Toyota manufacturer shuts down Pakistan plant for two weeks amid supply chain disruptions 

This picture taken on October 31, 2022 shows the logo of Toyota Motor displayed at a car showroom in Tokyo. (AFP)
Short Url
Updated 31 January 2023
Follow

Toyota manufacturer shuts down Pakistan plant for two weeks amid supply chain disruptions 

  • The company says it has insufficient inventory levels and is unable to continue production 
  • Pakistan has banned import of goods, including industrial raw materials, amid dollar crunch 

ISLAMABAD: The Indus Motor Company (IMC), which manufactures Toyota vehicles in Pakistan, has “completely” shut down its plant for two weeks, amid supply chain disruptions due to a ban on the import of raw materials. 

The Pakistani government has banned the import of goods, including industrial raw materials, to stop dollar outflows as the South Asian country’s foreign exchange reserves have depleted to $3.6 billion. 

Commercial banks in Pakistan have been advised to facilitate imports of specified sectors, mainly energy and food. Consequently, they have stopped issuing letters of credit (LCs), leaving importers struggling to arrange the greenback for already placed orders. 

“The company and its vendors continue to face major hurdles in import of raw materials and receiving clearance of their consignments from commercial banks. This has disrupted the entire supply chain and the vendors are unable to supply raw materials and components to the company,” the IMC said in a disclosure to the Pakistan Stock Exchange Limited on Tuesday. 

“In view of the above, the company has decided to completely shut down its plant from 1st February, 2023 to 14th February, 2023. Moreover, the company has also decided to start its production on single shift basis from 15th February, 2023 until further notice.” 

Cash-strapped Pakistan has been desperately looking to secure external financing, amid a severe foreign liquidity crunch, currency devaluation and more than 24 percent inflation. 

The South Asian country is currently holding talks with the International Monetary Fund (IMF) for the resumption of its $7 billion loan program, which has been stalled since September last year. 

A successful review of the program will result in the release of a much-needed $1.2 billion to Islamabad to meet its international financing obligations. 


Sri Lankan artist immortalizes Pakistan’s Olympic hero Arshad Nadeem with special painting

Updated 11 sec ago
Follow

Sri Lankan artist immortalizes Pakistan’s Olympic hero Arshad Nadeem with special painting

  • Arshad Nadeem won Pakistan its first Olympic gold medal since 1992 in August with record-breaking javelin throw
  • Titled “The Throw,” Mueen Saheed’s painting features an abstract portrayal of Nadeem and his mother

ISLAMABAD: Sri Lankan artist Mueen Saheed has paid tribute to Pakistani Olympian Arshad Nadeem by dedicating a “special painting” to the sportsman, state-run media recently reported, as a mark of respect for bagging the gold medal for his country earlier this year. 
Nadeem made history at the Paris Olympics in August by setting a new record for the longest javelin throw in the global competition, winning Pakistan its first gold medal since 1992 with a record-breaking 92.97m javelin throw. 
Saheed last week concluded an art cultural tour in Pakistan where he showcased his artwork at three major exhibitions in Lahore and Islamabad.
“Renowned Sri Lankan artist, Mueen Saheed made a memorable addition to his tour of Pakistan by presenting a special painting dedicated to Arshad Nadeem, Pakistan’s celebrated Olympic gold medalist, to the Pakistan National Council of the Arts (PNCA),” the state-run Associated Press of Pakistan (APP) reported on Sunday. 
The painting, now a part of the PNCA’s prestigious permanent collection, pays homage to Nadeem’s remarkable achievements and his role in uniting fans across borders.
Titled “The Throw,” the painting features an abstract portrayal of Nadeem and his mother, veiled behind Saheed’s distinctive brushstrokes and use of small squares, the APP said. 
The presentation ceremony at the PNCA in Islamabad, part of the artist’s “Passages of Light” exhibition, was attended by key figures in the arts and culture sector, including PNCA Director General Muhammad Ayoub Jamali and Information Minister Attaullah Tarar. 
“Arshad Nadeem’s story is one of resilience and humility,” Saheed explained. “His victory at the Olympics and the moments of sportsmanship with his Indian counterpart, Neeraj Chopra, were powerful examples of unity in competition.”
Tarar praised Saheed’s gesture, noting the significance of honoring a national hero whose journey resonates beyond sports, inspiring audiences from Pakistan, India, and around the world, the state-run media said.


Belarus President Lukashenko to arrive in Pakistan today amid Islamabad protest

Updated 11 min 14 sec ago
Follow

Belarus President Lukashenko to arrive in Pakistan today amid Islamabad protest

  • Thousands of ex-PM Khan supporters expected to arrive in Pakistan’s capital for anti-government protest
  • Pakistan, Belarus expected to sign several agreements during Aleksandr Lukashenko’s three-day visit to Pakistan

ISLAMABAD: Belarus President Aleksandr Lukashenko is scheduled to arrive in Pakistan on a three-day visit today, Monday, as thousands of supporters of former prime minister Imran Khan march toward the capital for an anti-government march. 
Pakistan’s state media said last week that Lukashenko was expected to hold talks with Prime Minister Shehbaz Sharif on bilateral cooperation while several agreements would be signed between the two countries. 
His visit comes at a time when thousands of supporters of jailed ex-PM Khan’s Pakistan Tehreek-e-Insaf (PTI) party are headed toward Islamabad for a protest “long march.” Khan’s party is demanding his release from prison, independence of the judiciary and protesting against alleged rigging in the February national elections. 
“President of the Republic of Belarus Aleksandr Lukashenko will undertake three-day visit to Pakistan from today,” state broadcaster Radio Pakistan reported. 
As a 68-member delegation from Belarus arrived in Pakistan’s capital on Sunday ahead of Lukashenko’s visit, Pakistan’s government described the PTI’s protest as a “deliberate conspiracy” against the country’s “honor,” vowing stern action against any persons found violating the law. 
The government last week took measures to enhance security in Islamabad, sealing off key highways and motorways leading to the capital from surrounding areas with shipping containers. 
Security in the capital has also been beefed up with the deployment of paramilitary forces and police while the government has suspended Internet services in areas deemed sensitive for security. 
PTI CARAVAN
Meanwhile, the PTI convoy led by Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur left Peshawar around 1:30 p.m. on Sunday and reached Swabi in the evening, where it was joined by protesters from across the province.
The caravan then proceeded to Ghazi Barotha near Punjab, where it expects resistance from federal authorities.
Hajji Fazal Elahi, a PTI provincial lawmaker, told Arab News the party workers were determined to reach D-Chowk, the protest venue in Islamabad.
“There are hurdles as the government has placed barriers in different places. We will try our best to remove them, but if we don’t succeed, we’ll spend the night here,” he said, referring to Ghazi Barotha.
“We will go to D-Chowk and cross all the barriers, even if it takes a day or two,” he added.


Pakistan says protests cost $684 million daily as Imran Khan’s supporters march on Islamabad

Updated 25 November 2024
Follow

Pakistan says protests cost $684 million daily as Imran Khan’s supporters march on Islamabad

  • Finance Ministry’s estimates exclude losses from IT, telecom sectors and provincial economies
  • Imran Khan has called for protests demanding his release, with demonstrations also held abroad

ISLAMABAD: Pakistan’s Ministry of Finance has prepared a report estimating economic losses of Rs190 billion ($684 million) per day due to political protests, Federal Finance Minister Muhammad Aurangzeb said on Sunday, as supporters of jailed former prime minister Imran Khan march toward Islamabad to demand his release.
The protest, led by Khan’s Pakistan Tehreek-e-Insaf (PTI) party, has effectively cut off the federal capital from other cities, with authorities using shipping containers to seal all entry and exit points and announcing the closure of all educational institutions in Islamabad.
The disruption has also impacted small businesses, with slow Internet and telecom services further compounding the economic losses.
“Protests result in a daily loss of Rs190 billion,” the finance minister said in a statement circulated by his office, warning of repercussions for the national economy.
According to the ministry’s report, the GDP suffers a daily loss of Rs144 billion, accounting for the largest share of the economic impact. Additionally, a decline in exports results in a daily loss of Rs26 billion, while disruptions in foreign direct investment contribute Rs3 billion to the daily losses.
Losses in the IT and telecom sectors are significant but separate from these figures.
“The federal government’s daily loss is Rs190 billion, while provincial losses are even higher,” Aurangzeb noted, without providing detailed provincial breakdowns.
Khan, who has been incarcerated for over a year on charges he claims are politically motivated, has urged his followers to rally both in Pakistan and abroad.
PTI supporters in countries such as the United Kingdom, France, Sweden, Spain and Japan have also organized demonstrations, calling for the former prime minister’s release.
As tensions persist, the government remains firm in its resolve to maintain public order, with Finance Minister Aurangzeb stressing that the ongoing unrest is severely undermining the country’s economic recovery efforts.


Pakistan urges climate justice at COP29, highlights gaps in global commitments

Updated 24 November 2024
Follow

Pakistan urges climate justice at COP29, highlights gaps in global commitments

  • It highlights mismatch between developed nations’ pledges and developing countries’ needs
  • Romina Alam says Pakistan is forced into debt to manage the fallout of climate disasters

ISLAMABAD: Pakistan’s top climate change official on Sunday voiced concern over the widening gap between global climate commitments and the needs of vulnerable nations as COP29 ended in Azerbaijan.
Addressing the closing plenary, Romina Khurshid Alam, Prime Minister’s Coordinator on Climate Change, emphasized Pakistan’s acute vulnerability to phenomenon, citing devastating floods, glacial melt, extreme heatwaves and droughts that have affected millions and strained the country’s resources.
“Climate justice is not charity; it is a moral obligation,” she said during her statement, criticizing the mismatch between developed nations’ pledges and the requirements of developing countries to implement their climate plans.
The Pakistani official welcomed the adoption of the Baku Climate Unity Pact, though she expressed “mixed feelings” about the outcomes.
“We note critical gaps in the decisions adopted here,” she said. “Global solidarity is important, but the goals set by developed countries fall short of addressing the needs of developing nations to implement their NDCs [Nationally Determined Contributions] and National Adaptation Plans.”
Alam highlighted the inequity in the international climate finance system, pointing out that countries like Pakistan are being forced into debt to manage the fallout of climate disasters.
“The climate crisis is turning into a debt crisis because the means of implementation are not clear,” she added.
The Pakistani official urged all parties to return to the negotiating table with renewed determination ahead of COP30.
“Multilateralism remains the cornerstone of Pakistan’s climate diplomacy, and we hope for greater equity and commitment in addressing outstanding critical issues,” she added.
Pakistan is ranked as the 5th most vulnerable country to climate change, according to the Global Climate Risk Index. Apart from floods, droughts and heatwaves, the country’s eastern cities in Punjab have also witnessed unprecedented smog, taking the AQI level as high as 2,000.


Imran Khan’s party decries ‘crackdown’ as caravan nears Punjab amid government’s protest ban

Updated 24 November 2024
Follow

Imran Khan’s party decries ‘crackdown’ as caravan nears Punjab amid government’s protest ban

  • Government says it will not allow anyone to disrupt public order amid Belarusian delegation visit to Pakistan
  • PTI caravan from KP expect resistance from federal authorities near Punjab, plans to camp overnight if needed

ISLAMABAD/GHAZI BAROTHA: Sporadic clashes erupted near Islamabad on Sunday as jailed ex-premier Imran Khan’s supporters from nearby Rawalpindi tried to enter the capital in response to a protest call, while their party leaders criticized what they described as a government “crackdown” to block the demonstration.
Khan’s Pakistan Tehreek-e-Insaf (PTI) has launched a “long march” to Islamabad, seeking the release of its founding leader after more than a year of his incarceration on charges it claims are politically motivated.
The party is also protesting alleged rigging in February’s general elections and raising concerns about judicial independence, which it says has been undermined by recent constitutional amendments, a claim the government denies.
Speaking to Arab News, Sayed Zulfikar Bukhari, a senior PTI leader and close aide to Khan, expressed dismay at the government’s response, saying his party only wanted to hold a peaceful protest.
“There is a heavy crackdown in Rawalpindi, as they [the law enforcement officials] have shot rubber bullets, teargas and also picked up people,” he said.
“We just want to do a peaceful protest,” he added. “We will continue [the demonstration] for days to come because we have the right to peaceful assembly and protest.”
Arab News reached out to police officials for comment but did not receive a response.
SECURITY MEASURES
Interior Minister Mohsin Naqvi toured Islamabad, Rawalpindi and Attock by air on Sunday to review security arrangements, expressing satisfaction with the measures and reiterating that the government would take every step to maintain law and order in Islamabad.
“The government has made every possible effort to protect the lives and property of citizens,” Naqvi said, warning that “troublemakers will be dealt with strictly according to the law.”
He added that police, paramilitary Frontier Corps and Rangers were performing their duties with vigilance.
The government has described PTI’s protest as a “deliberate conspiracy” against the country’s “honor,” citing its timing as a 68-member Belarusian delegation arrived in Islamabad for bilateral economic talks.
President Aleksandr Lukashenko is scheduled to arrive in the federal capital on Monday, with officials characterizing the PTI march as an attempt to sabotage Pakistan’s economic recovery.
Naqvi underscored earlier in the day that no one would be allowed to disrupt public order in the federal capital during the visit.
PTI CARAVAN
Meanwhile, the PTI convoy led by Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur left Peshawar around 1:30 p.m. and reached Swabi in the evening, where it was joined by protesters from across the province.
The caravan then proceeded to Ghazi Barotha near Punjab, where it expects resistance from federal authorities.
Hajji Fazal Elahi, a PTI provincial lawmaker, told Arab News the party workers were determined to reach D-Chowk, the protest venue in Islamabad.
“There are hurdles as the government has placed barriers in different places. We will try our best to remove them, but if we don’t succeed, we’ll spend the night here,” he said, referring to Ghazi Barotha.
“We will go to D-Chowk and cross all the barriers, even if it takes a day or two,” he added.
Elahi also acknowledged challenges due to “insufficient machinery” for clearing blockades, adding that the group was prepared to camp at their current location if necessary.
PTI leaders remain defiant, with Gandapur vowing to reach the federal capital “at any cost.”
The party has hinted at an indefinite sit-in in Islamabad, pledging not to return until their demands are met by the government.