Pakistan suspends authorization of exchange companies for violating rules amid forex crunch

A security guard stands outside a currency exchange shop in Rawalpindi, Pakistan on July 15, 2023. (AFP/File)
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Updated 14 October 2023
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Pakistan suspends authorization of exchange companies for violating rules amid forex crunch

  • The development comes amid a forex crunch that has prompted authorities to crackdown on currency smugglers and hoarders
  • Pakistan is trying to navigate a tricky path to economic recovery in the wake of a $3-billion IMF bailout program, approved in July

ISLAMABAD: Pakistan’s central bank has suspended the authorization of multiple currency exchange companies over regulatory violations, it said on Saturday, amid a foreign exchange crunch in the South Asian country. 

The companies whose authorization has been suspended include International Exchange Company, World Wide Exchange Company, World Exchange Company, Universal Exchange Company and United Exchange Company. 

The development comes as authorities in the South Asian country continue to crack down on currency hoarders, smugglers and money exchanges involved in regulatory violations to stabilize the country’s foreign reserves. 

“All the aforementioned Exchange Companies – B Category, their head offices and all branches have been debarred from undertaking any kind of business activity during the suspension period,” the State Bank of Pakistan (SBP) said in a statement. 

Pakistan is trying to navigate a tricky path to economic recovery under a caretaker government in the wake of a $3-billion International Monetary Fund (IMF) bailout program, approved in July, that helped the South Asian country avert a sovereign debt default. 

The central bank said on Friday it had met an end-September deadline for a forward book target of $4.2 billion agreed with the IMF, and was comfortably placed to meet others on net international reserves and net domestic assets. 

Since January 2023, the bank’s foreign exchange reserves have improved from a low of $3.1 billion to $7.6 billion by the end of September, according to the SBP. The build-up of reserves was largely supported by non-debt creating inflows amid favorable market conditions. 

“At the same time, SBP’s forward foreign exchange liabilities have declined and the forward book target of $4.2 billion for end-September 2023 agreed with the IMF has already been met by a wide margin,” the central bank added. 


Fire-grilled fish sajji is a sensation in Pakistan’s Sanghar city and beyond

Updated 11 sec ago
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Fire-grilled fish sajji is a sensation in Pakistan’s Sanghar city and beyond

  • Lamb or chicken sajji is popular in Sindh, Balochistan provinces but humble food stall has reimaged recipe with rohu fish 
  • Social media influencers and word of mouth popularity have helped put shop’s unique fish sajji on culinary map of Pakistan

SANGHAR: The glow of a crackling fire flickered from the humble food stall as dusk fell earlier this month over the small town of Sanghar in Pakistan’s southern Sindh province.

With no proper structure to speak of, the shop of Abdul Jabbar Mallah has little more than skewers, some chairs and the expertise of chefs who have honed their craft over decades, popularizing a type of slow-cooked fish sajji that draws customers from Sanghar and beyond. 

Sajji is usually made of lamb or chicken marinated in simple spices and slow roasted over an open flame to preserve natural flavors. Here in Sanghar, the classic recipe has been reimagined with rohu fish, a freshwater carp prized for its tender meat.

“It has been more than 20 to 25 years since I’ve been doing this work,” Mallah told Arab News last week as he skewered fish on wooden rods which he stuck into the ground in a circle around a fire to roast for two hours.

“The specialty of this sajji is that it is made from freshwater [fish]. Second thing is that no oil is used, it is dry, it is made without water, without oil. So, when people sit down to eat, even a two-kilogram piece of fish can be eaten by one person.”

The spices, a harmonious mix of coriander, white cumin and black pepper, add to the dish’s distinct flavor, with Mallah saying he avoided using city-bought spices when preparing the fish, which retails for $4.5 a kilogram. The smallest order is 2kg.

“This is why its taste is unique. People love eating local fish in local spices,” he said.

Mallah humbly acknowledged it was not him who invented the dish but his mentors, Ata Muhammad and Rajab Ali.

“My masters used to make it, and I learned from them,” he said, recounting famous clients like Pir Pagaro, an influential spiritual leader of the region whose forces fought against the British and who later played a role in Pakistani politics. Jam Sadiq Ali, a former Sindh chief minister in the early 1990s, was another top client who also ordered Mallah’s fish sajji for his son’s wedding.

Today, the popularity of Mallah’s innovatio has spread beyond the confines of Sanghar. Though the chef has been cooking fish for over two decades, visits by food and travel vloggers in recent years have made his sajji a culinary magnet for customers from around the country. 

That’s why an out-of-town guest had requested to try the fish, said Imran Khan Khilji, a local trader visiting Mallah’s stall.

“We came here especially because of this guest,” he said, pointing to a friend sitting next to him. “He has come to attend a wedding, and we said, ‘Let’s treat you to a delicacy of Sanghar’.”

Shehzad Jatt, a teacher, said he had been waiting nearly two hours to enjoy the sajji.

“This is Sanghar’s special dish, and they make it excellently,” Jatt said as he sat with a group of friends at Mallah’s shop, watching rows of sajji roasting in the chilly December night. 

“I’ve had fish at many places, but the fish from Sanghar is something else. The way the sajji fish is made here, I’ve never seen such a sajji anywhere else. Once you try it, you’ll know that the taste is unique.”

And Mallah is committed to preserving the flavors and the legacy of his mentors.

“The fish sajji that is prepared here in Sanghar, no one else makes it. Whoever tries to make it, it lasts only a few days, but after that, their shop doesn’t run because, by the grace of god, we have such a unique taste,” the chef said as he skewered a fresh batch of fish onto rods with his bony fingers.

“Allah has blessed our hands with flavor and people eat it and keep coming back.”
 


Pakistan’s missile program is ‘emerging threat’, top US official says

Updated 27 min 53 sec ago
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Pakistan’s missile program is ‘emerging threat’, top US official says

  • Pakistan refuses to address why it is developing more powerful rocket engines, senior US officials say
  • US has imposed new sanctions on Pakistan’s missile program

WASHINGTON: A senior White House official on Thursday said nuclear-armed Pakistan is developing long-range ballistic missile capabilities that eventually could allow it to strike targets well beyond South Asia, making it an “emerging threat” to the United States.

Deputy National Security Adviser Jon Finer’s surprise revelation underscored how far the once-close ties between Washington and Islamabad have deteriorated since the 2021 US troop withdrawal from Afghanistan.

It also raised questions about whether Pakistan has shifted the objectives of nuclear weapons and ballistic missile programs long intended to counter those of India, the victor in three major wars they have fought since 1947.

Speaking to the Carnegie Endowment for International Peace, Finer said Pakistan has pursued “increasingly sophisticated missile technology, from long-range ballistic missile systems to equipment, that would enable the testing of significantly larger rocket motors.”

If those trends continue, Finer said, “Pakistan will have the capability to strike targets well beyond South Asia, including in the United States.”

The number of nuclear-armed states with missiles that can reach the US homeland “is very small and they tend to be adversarial,” he continued, naming Russia, North Korea and China.

“So, candidly, it’s hard for us to see Pakistan’s actions as anything other than an emerging threat to the United States,” Finer said.

His speech came a day after Washington announced a new round of sanctions related to Pakistan’s ballistic missile development program, including for the first time against the state-run defense agency that oversees the program.

The Pakistani embassy did not immediately respond to a request for comment.

Islamabad casts its nuclear weapons and ballistic missile programs as deterrents against Indian aggression and intended to maintain regional stability.

Two senior administration officials, speaking on condition of anonymity, said that the US concerns with Pakistan’s missile program have been long-standing and stemmed from the sizes of the rocket engines being developed.

The threat posed to the United States is up to a decade away, said one official.

Finer’s comments, the officials said, were intended to press Pakistani officials to address why they are developing more powerful rocket engines, something they have refused to do.

“They don’t acknowledge our concerns. They tell us we are biased,” said the second US official, adding that Pakistani officials have wrongly implied that US sanctions on their missile program are intended “to handicap their ability to defend against India.”

Finer included himself among senior US officials who he said repeatedly have raised concerns about the missile program with top Pakistani officials to no avail.

Washington and Islamabad, he noted, had been “long-time partners” on development, counter-terrorism and security.

“That makes us question even more why Pakistan will be motivated to develop a capability that could be used against us.”

Pakistan has been critical of warm ties US President Joe Biden has forged with its long-time foe India, and maintains close ties with China. Some Chinese entities have been slapped with US sanctions for supplying Islamabad’s ballistic missile program.

It conducted its first nuclear weapons test in 1998 — more than 20 years after India’s first test blast — and has built an extensive arsenal of ballistic missiles capable of lofting nuclear warheads.

The Bulletin of the American Scientists research organization estimates that Pakistan has a stockpile of about 170 warheads.

US-Pakistani relations have undergone major ups and downs, including close Cold War ties that saw them support Afghan rebels against the 1979-89 Soviet occupation of Afghanistan.

Pakistan also was a key partner in the US fight against Al-Qaeda following the Sept. 11, 2001, attacks on the United States, and has been a major non-NATO ally since 2004.

But ties also have been hurt by coups staged by the Pakistani military, its support for the Taliban’s 1996-2001 rule and its nuclear weapons program.

Several experts said Finer’s speech came as a major surprise.

“For a senior US official to publicly link concerns about proliferation in Pakistan to a future direct threat to the US homeland — this is a mighty dramatic development,” said Michael Kugelman of the Wilson Center think tank. 


Imran Khan gives Pakistan government until Dec. 22 to meet demands or face civil disobedience

Updated 19 December 2024
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Imran Khan gives Pakistan government until Dec. 22 to meet demands or face civil disobedience

  • Demands include release of political prisoners, judicial commissions to investigate violence at protests
  • Khan has been in jail since August 2023 on charges he says are motivated to keep him away from politics

ISLAMABAD: Former Prime Minister Imran Khan on Thursday said he would call on overseas Pakistanis, a large support base for the jailed leader, to stop sending remittances if the government did not implement his party’s demands by Dec. 22.

On Dec. 5, Khan, jailed since August 2023 on charges he says are politically motivated to keep him away from power, said in a message to supporters he was setting up a five-member negotiations committee to hold talks with the federal government for the release of political prisoners. He also demanded judicial commissions to investigate protests on May 9 last year and Nov. 26 this year in which the government says supporters of Khan’s Pakistan Tehreek-e-Insaf (PTI) party partook in violence and caused vandalism.

“These are both legitimate demands, and if the government does not implement them by Sunday, the first phase of the civil disobedience movement, ‘boycott of remittances,’ will be launched,” Khan said in a message posted on his X. 

“In this regard, we will appeal to Pakistanis living abroad that the situation in Pakistan is evident to you; democracy, the judiciary, and the media has been stifled, and a period of oppression and fascism is ongoing. Therefore, we urge you to start the boycott of remittances.”

Inflow of remittances clocked in at $30.3 billion in fiscal year 2023-24, 10.7 percent higher on a year-on-year basis compared to $27.3 billion in FY23, according to data released by the State Bank of Pakistan.

Khan said the PTI’s offer for negotiations was being projected as a sign of “surrender.” 

“The offer for talks and delaying the civil disobedience movement was made in the broader national interest,” Khan said. 

“If the government shows no interest, we will not force negotiations upon them. Our offer should never be seen as a sign of our weakness. If the government still wants to prevent the civil disobedience movement, they must contact us regarding our two demands or convince us that these demands are unconstitutional and cannot be addressed.”

Pressure on Khan’s PTI party, already at loggerheads with the government and military, has increased since last month when thousands of its supporters stormed Islamabad, demanding Khan’s release. 

The government says protesters killed four security officers in clashes while the PTI says at least 12 of its supporters died and “hundreds” were injured and arrested as security agencies used live ammunition rounds to disperse protesters, which authorities deny. The Prime Minister Shehbaz Sharif’s coalition government says it will take legal action against the rioters and bring to justice suspects behind what it has described as a “malicious campaign” to spread fake online news, images and video content against the state and security forces.

Previously, the government and military have accused Khan supporters of attacking and damaging government and military buildings, including the military’s GHQ headquarters in Rawalpindi, after his brief arrest on May 9, 2023. The PTI says at least ten of its supporters were killed as security forces opened fire at protesters. 

Hundreds of PTI supporters and dozens of leaders were subsequently arrested while police registered cases against the party’s top leaders, including Khan. The army is also holding military trials of over a 100 people arrested in connection with the May riots.

On Thursday, former foreign minister Shah Mahmood Qureshi and Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, key aides of Khan, were among 14 members of his party indicted in a case involving an attack last year on the military’s headquarters (GHQ).

Khan was himself indicted last Thursday on charges of inciting his supporters to attack GHQ on May 9.


Former foreign minister, serving chief minister among 14 indicted for attack on Pakistan army headquarter

Updated 19 December 2024
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Former foreign minister, serving chief minister among 14 indicted for attack on Pakistan army headquarter

  • Imran Khan supporters accused of attacking GHQ, other military installations on May 9, 2023, following his brief arrest in land graft case
  • Hundreds of PTI supporters and dozens of leaders were subsequently arrested while police registered cases against PTI party top leaders

ISLAMABAD: Former foreign minister Shah Mahmood Qureshi and Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, key aides of jailed ex-premier Imran Khan, were among 14 members of his party indicted on Thursday in a case involving an attack last year on the military’s headquarters (GHQ).

The move comes after Khan was himself also indicted on Thursday on charges of inciting his supporters to attack GHQ on May 9, 2023, when Khan was arrested by the national anti-corruption agency in a land graft case. The arrest sparked a wave of protests by Khan supporters across the country, with rioters attacking important state buildings and ransacking military facilities, including the GHQ in the garrison city of Rawalpindi and the residence of the army’s top commander in the eastern city of Lahore. 

Hundreds of supporters and dozens of leaders of Khan Pakistan Tehreek-e-Insaf (PTI) party were subsequently arrested while police registered cases against the party’s top leaders, including Khan.

Following Thursday’s indictment, Qureshi spoke to reporters outside Adiala Jail, saying he was being “targeted for political revenge.” 

“I was in Karachi on May 9, not Rawalpindi,” Qureshi told reporters. “I say take mine and the prosecutor’s oaths on May 9 under Section 16 of the Anti-Terrorism Act.”

Besides Qureshi and Gandapur, Senate opposition leader Shibli Faraz, Shehryar Afridi, Kanwal Shauzab, Latasab Satti, Umar Tanveer Butt, Taimur Masood, Saad Ali Khan, Sikandar Zeb, Zohaib Afridi, Fahad Masood and Raja Nasir Mahfouz are other PTI members indicted today. 

On Monday, former human rights minister Shireen Mazari and eight others were also arraigned in the GHQ case, in which a total of 113 PTI leaders and supporters have so far been indicted.

Following Thursday’s indictment, Gandapur, Afridi and Shauzab filed applications under Section 265-D of the Criminal Procedure Code, which deals with framing charges against an accused. A hearing on the applications has been scheduled for tomorrow, Friday, at the Anti-Terrorism Court (ATC) in Adiala Jail. 

Should Gandapur appear in court tomorrow, his arrest warrant will be canceled, Pakistan’s Dawn newspaper quoted the judge as saying. 

After Monday’s indictments against Mazari and eight others, the PTI had said in a statement to reporters:

“It’s good that things are going toward indictment … As the case goes to trial, then it will come out whether these accused people are actually involved, and they will get a way to fight these false charges through the legal and judicial system. Up until now, people were just being kept in custody and things were lingering on for a year and a half.”

Nearly 2,000 people were arrested following the May 9 protests and at least eight were killed. The government had called in the army to help restore order.

Though Khan was released on bail within days of the May 9 arrest, he was later rearrested in August 2023 after he was handed a three-year prison sentence in another corruption case. He has been in jail since then.

His party was barred from Pakistan’s election on Feb. 8, 2024, but the would-be candidates stood as independents.

Despite the ban and Khan’s imprisonment for convictions on charges ranging from leaking state secrets to corruption, millions of the former cricketer’s supporters voted for him. Independent candidates from his party won the highest number of seats but not enough to form a government on their own. Khan cannot be part of any government while he remains in prison.

Khan and his party say all legal cases against him are based on made-up charges to keep him out of politics at the behest of the army after he had fallen out with the military’s generals. The army denies the accusation.


Pakistani PM condemns Israeli military actions at special D-8 session on Middle East conflict

Updated 19 December 2024
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Pakistani PM condemns Israeli military actions at special D-8 session on Middle East conflict

  • Shehbaz Sharif announces support for mediation efforts by Qatar and Egypt, calls for funding for war-torn regions
  • More than 45,000 people including women and children have been killed during the 14-month war in Palestine

ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif on Thursday condemned Israel’s “unrelenting atrocities” in Gaza, the West Bank, Lebanon and Syria, applauding countries like Egypt and Qatar for leading international mediation efforts to end the war in the Middle East.

Sharif was speaking at a special session called during the Eleventh Summit of the D-8 group of developing nations, which is taking place in Cairo this week. 

Health officials in the Gaza Strip have said the death toll from the 14-month war between Israel and Hamas has topped 45,000 people, with more than half of the fatalities being women and children. The Israeli military says it has killed more than 17,000 militants, without providing evidence.

Israel has since launched attacks on Lebanon as well, killing over 3,000 after accusing Hezbollah of targeting its military. This month, it took control of Syria’s buffer zone and bombed key military and strategic assets after the overthrow of the Bashar Assad regime by opposition forces. 

“Israel’s deliberate and inhumane targeting of the people of Gaza and Lebanon, with intensifying savagery has resulted in a relentless massacre that blatantly violates international law, UN resolutions and ICJ directives,” Sharif said in an address to the special session, referring to Israeli aggression in Gaza, the West Bank, Lebanon and Syria. 

“Pakistan supports all international mediation efforts for an immediate ceasefire and for that, we deeply appreciate the efforts of Qatar and Egypt,” the PM added, calling for the provision of funding and aid for the rehabilitation and reconstruction of Gaza, the West Bank, Lebanon and other war-torn areas.

Since the beginning of Israel’s war on Gaza, Pakistan has repeatedly raised the issue at the United Nations, the Organization of Islamic Cooperation and other multilateral platforms and demanded international powers and bodies stop Israeli military actions. 

Islamabad does not have diplomatic relations with Israel and has for decades called for an independent Palestinian state with Al-Quds Al-Sharif as its capital.