Brazilian tourist killed during paragliding accident in Pakistan’s northern Gilgit-Baltistan region

The file photograph posted on October 21, 2019, shows a paraglider is airborne in Pakistan's Gilgit-Baltistan region. (GB Paragliding & Hang Gliding Association/File)
Short Url
Updated 04 July 2024
Follow

Brazilian tourist killed during paragliding accident in Pakistan’s northern Gilgit-Baltistan region

  • Brazilian tourist Raineri Rodrigo Chadded was part of seven-member team of foreigners trekking to K2 base camp
  • Hundreds of tourists visit Gilgit-Baltistan every year, which is home to some of the highest peaks in the world

KHAPLU, GILGIT-BALTISTAN: A Brazilian tourist was killed in a paragliding incident in Pakistan’s Gilgit-Baltistan region on Thursday, officials confirmed, making him the fourth foreigner to have died in the country’s northern mountainous area in less than two months. 

Gilgit-Baltistan, a sparsely populated region administered by Pakistan as an autonomous territory, is home to some of the highest peaks in the world and a major tourist destination. Hundreds of tourists visit the region each year for expeditions on various peaks, paragliding and other sports activities. 

Last month, two Japanese climbers went missing while attempting to summit the 7,027-meter Spantik Peak in the area’s Nagar district. The body of one of the climbers was found by Pakistani authorities, who subsequently called off the search for the other missing climber. On Wednesday, officials confirmed another Japanese climber had died as he descended the same Spantik Peak after summiting it. 

“The accident occurred today in the Shigar district’s Askole area,” Wali Ur Rehman, the district’s deputy commissioner, told Arab News via text message. “The paraglider has been identified as Raineri Rodrigo Chadded.”

Akhtar Shigri, a district official responsible for matters relating to foreigners, said Chadded was part of a seven-member team who were on their way to the K2 base camp.

He said of the other six foreigners, two were from France, one was from Bulgaria, two from the United States and one from Switzerland. 

Shigri said all members of the team left Shigar headquarters on Wednesday for the K2 base camp but Chadded opted to paraglide from Askoli to Jhula camp. 

“He fell while paragliding and was killed in the Askoli area,” Shigri told Arab News, adding that authorities were shifting his body.

Pakistan is home to five of the world’s tallest mountains that loom above 8,000 meters, including the K2 and Nanga Parbat mountains, known for their treacherous climbs. This year over 2,000 foreign climbers and trekkers have applied for permits for mountaineering expeditions and trekking in Gilgit Baltistan. 

Sajid Hussain, deputy secretary for the GB Tourism Department, said the government could not stop deaths from taking place in the northern area.

“However, for the last few years, we have been strictly directing tour companies to opt for all safety measures in this field,” Hussain told Arab News.

He said only one climber lost his life whilst attempting to summit the K2 last year. 

Hussain said the ratio of climbers and trekkers dying in the northern region was very low, considering the number of foreigners that visit the area, due to strict safety measures adopted by authorities here. 

“We are doing our level best to facilitate climbers and trekkers,” he said. “All tour companies have been directed to ensure the implementation of life insurance for climbers and trekkers, so that we can promptly kick off the rescue mission via Askari aviation in case of emergency.”


PM Sharif arrives in Karachi on day-long visit to meet business community

Updated 07 July 2024
Follow

PM Sharif arrives in Karachi on day-long visit to meet business community

  • Pakistan’s prime minister to be briefed on ways to improve country’s national income during day-long visit, says PM Office
  • Sharif to inspect port operations, meet delegation of businessmen from Pakistan’s import and export sectors

ISLAMABAD: Prime Minister Shehbaz Sharif arrived in Pakistan’s commercial and industrial hub Karachi on a day-long visit on Sunday to meet members of the business community and review port operations, his office confirmed in a statement. 

Karachi is Pakistan’s largest financial and industrial hub and home to over 20 million people. The city has a vibrant business community and several industrial sites, as well as a port that connects it to various continents for trade and helps Pakistan earn a significant amount of revenue.

However, the city’s deteriorating law and order situation and poor infrastructure have frustrated the business community, who have regularly sought interventions from the government to resolve some of the metropolis’ teething issues. 

“Prime Minister Shehbaz Sharif has arrived on a one-day trip to Karachi,” the Prime Minister’s Office (PMO) said in a statement, adding that he is expected to review port operations and take important decisions during the visit. 

“He is also expected to meet a delegation of businessmen from the export and import sectors.”

The PMO statement said Sharif will be briefed on increasing the country’s national income, facilities for the business community and reforms in the export and import sector. 

“Important decisions will be taken in this regard,” it said. 


PROFILE: Dr. Mehmood Khan, Pakistan’s first scientist to be granted Saudi citizenship

Updated 07 July 2024
Follow

PROFILE: Dr. Mehmood Khan, Pakistan’s first scientist to be granted Saudi citizenship

  • Dr. Khan has served in key positions in corporate, medical and scientific fields in a career spanning three decades
  • Saudi Arabia has opened its citizenship to highly skilled professionals to attract and retain exceptional global talent

ISLAMABAD: Pakistani scientist Dr. Mehmood Khan this week became a member of a distinguished list of doctors, researchers, innovators and entrepreneurs from around the world who were granted Saudi citizenship, according to a list published by financial news portal Argaam.

An American national, Dr. Khan is currently the chief executive officer of the Hevolution Foundation, a non-profit organization that aims to increase the number of aging-related treatments, compress the timeline of drug development, and increase accessibility to therapeutics that extend a human lifespan.

A global non-profit organization headquartered in Riyadh with a North American hub, and an annual budget of up to $1 billion, Hevolution Foundation is the second largest geroscience funder with plans to open offices in other international locations. Geroscience is a field of biomedical research that seeks to understand how aging processes drive chronic diseases.

Dr. Khan was awarded Saudi citizenship after the kingdom opened its citizenship to highly skilled professionals as part of its Vision 2030, aiming to attract and retain exceptional global talent to enhance the kingdom’s economic and social development. A royal decree to this effect was issued in November 2021, allowing people belonging to specialized fields such as science, medicine, culture, sports and technology to apply for citizenship.

Dr. Khan, who earned his medical degree from the University of Liverpool Medical School in England, was also mentioned in the list of all the high achievers who received Saudi citizenship this week in Argaam. 

“So I grew up in England, actually haven’t had a chance to grow up in Pakistan,” Dr. Khan said during an interview in 2015 at OPEN Silicon Valley, an international organization of Pakistani entrepreneurs. “Proud to be Pakistani [though].” 

He advised budding corporate leaders and those aspiring to make a name for themselves in the medical field to take risks in life and pursue their passion. 

“Do take risks. Do not be afraid to take risks and do the best you can but pursue your passion,” he said. 

The Pakistani-American scientist has an impressive profile, having served in senior corporate and medical positions in a career spanning three decades. 

Dr. Khan has served as the chief executive officer at Life Biosciences Inc, vice chairman and chief scientific officer of global research and development at PepsiCo. from 2007-2019, and as the president of global research and development at renowned Japanese company, Takeda Pharmaceuticals, from 2003-2008.

He has served as director of the diabetes, endocrine and nutritional trials unit at the prestigious Mayo Clinic and Mayo Medical School from 2001-2003.

Dr. Khan is a fellow of the Royal College of Physicians and a fellow of the American College of Endocrinology as well.

He was the chairman of the US-Pakistan Business Council from 2016-2019 and continues to remain a board member of Reckitt Benckiser, a globally renowned British multinational consumer goods company.

Dr. Khan advised people aspiring to achieve senior positions in the corporate and medical fields to “reinvent” themselves.

“You cannot be the same that you were 30 years ago,” Dr. Khan told OPEN Silicon Valley. “If I was still doing what I learned 30 years ago, I couldn’t even practice medicine, let alone do what I do today.”


Two soldiers, six suspected militants killed in Indian-administered Kashmir— police 

Updated 07 July 2024
Follow

Two soldiers, six suspected militants killed in Indian-administered Kashmir— police 

  • Separate gunbattles are latest incidents in an uptick of attacks in disputed territory
  • India and Pakistan both claim Kashmir in full, have fought three wars for its control

NEW DELHI, India: Two soldiers and six suspected militants were killed in two separate gunbattles in Indian-administered Kashmir, police said Sunday.

Kashmir police Inspector General Vidhi Kumar Birdi told AFP that authorities in the disputed territory had “carried out two different operations” in villages in the Kulgam district.

Birdi said two members of the security forces had been killed, with clashes continuing in Modergram and Frisal Chinnigam villages.

“We have retrieved the bodies of two terrorists from Modergram, and four others from Frisal Chinnigam,” said Birdi.

This is the latest incident in an uptick of attacks in the disputed territory.

India and Pakistan both claim Muslim-majority Kashmir in full and have fought three wars for control of the Himalayan region.

Rebel groups have waged an insurgency since 1989, demanding independence for the territory or its merger with Pakistan.

The conflict has killed tens of thousands of civilians, soldiers and rebels.

In June, nine Indian Hindu pilgrims were killed and dozens wounded when a gunman opened fire on a bus carrying them from a shrine in the southern Reasi area.

It was one of the deadliest attacks in years and the first on Hindu pilgrims in Kashmir since 2017, when gunmen killed seven people in another ambush on a bus.


Competition commission approves Saudi group Asyad’s acquisition of Shell Pakistan 

Updated 07 July 2024
Follow

Competition commission approves Saudi group Asyad’s acquisition of Shell Pakistan 

  • Shell’s parent company announced exit from Pakistan last year after selling 77.42 percent of shares to Asyad’s affiliate Wafi Energy
  • Competition Commission of Pakistan chairman says acquisition to elevate service standards in country’s retail fuel supply chain 

ISLAMABAD: The Competition Commission of Pakistan (CCP) on Saturday approved Saudi Group Asyad Holding’s acquisition of Shell Pakistan through UAE-based Wafi Energy Holding Limited, saying the move would boost the country’s retail oil sector. 

Shell Petroleum Company announced its exit from Pakistan in June 2023 with the sale of 77.42 percent shareholding in the local business to Wafi Energy. The move came after Shell made several announcements about its global operations and after Shell Pakistan suffered losses in 2022 due to exchange rates, the devaluation of the Pakistani rupee, and overdue receivables. 

Wafi Energy is a wholly-owned affiliate of Asyad Holding Group, a fuel retailer in Saudi Arabia. Shell Pakistan’s operations include more than 600 mobility sites, 10 fuel terminals, a lubricant oil blending plant and a 26 percent shareholding in Pak-Arab Pipeline Company Limited.

“The Competition Commission of Pakistan (CCP) has approved the acquisition under Section 11 of the Competition Act, 2010, thus solidifying the said transaction to boost the retail oil sector in Pakistan,” the CCP said in a press release. 

The CCP said Shell Pakistan maintains a “substantial business footprint” in the retail supply of motor fuels and lubricants across Pakistan. It also noted that Wafi Energy specializes in managing and operating fuel stations in Saudi Arabia.

The commission said its first assessment phase identified retail fuel, vehicle lubricants and industrial lubricants as the relevant product markets. 

“It was also revealed that Shell Pakistan has distinct shares in all three relevant markets but that will remain unchanged post-transaction,” the CCP said. 

“The analysis further confirmed that Wafi Energy Holding Limited will not gain a dominant position in the relevant markets even after attaining the direct control of Shell Pakistan.”

 While signing the order, CCP Chairman Dr. Kabir Ahmed Sidhu said the move is expected to boost competition by elevating service standards in the retail fuel supply chain and contribute immensely to flourishing Pakistani markets.
 


Pakistan’s upcoming IMF bailout will ‘not be our last’ if tax revenues don’t rise— finmin 

Updated 07 July 2024
Follow

Pakistan’s upcoming IMF bailout will ‘not be our last’ if tax revenues don’t rise— finmin 

  • Finance Minister Aurangzeb last month passed tax-heavy budget, earning the ire of opposition and government’s allies
  • Pakistan is in talks with International Monetary Fund for fresh bailout program that it hopes will be between $6-8 billion

ISLAMABAD: Pakistan will keep seeking financial assistance packages from the International Monetary Fund (IMF) if it does not significantly boost its tax revenues, Finance Minister Muhammad Aurangzeb said on Monday. 

Aurangzeb’s comments come days after Pakistan’s president signed the federal budget for the current fiscal year, which has been criticized by the opposition, trade bodies and even the government’s allies, for its ambitious tax targets. 

The tax-heavy budget aims to raise Rs13 trillion ($46.6bn) by July 2025, a roughly 40 percent increase from the current financial year. Financial experts say the budget is aimed at satisfying the IMF, which has repeatedly asked Islamabad to bring tax reforms to ensure growth in its fragile economy. 

Speaking to British newspaper Financial Times, Aurangzeb said he was “relatively confident” of reaching a staff-level agreement with the IMF this month for a loan his government has estimated to be between $6-$8bn. 

“But it will not be our last fund program if we don’t bring our tax revenues up,” the minister said. 

Pakistan hopes the IMF bailout package will stabilize its economy, one of the worst-performing ones in Asia, that has been troubled by double-digit inflation, slow growth and low foreign reserves.

Pakistan’s economic indicators have recorded an improvement over the past few months, with inflation dropping down to 12.6 percent in June from the record-breaking 38 percent in May 2023. Pakistan’s stock market has registered high growth in recent weeks while the central bank’s foreign reserves have risen to over $9 billion. 

“The direction of travel is positive, and investors are showing confidence in the stock market,” Aurangzeb said. 

However, he acknowledged Pakistan’s tax collection authority, the Federal Bureau of Revenue (FBR), was viewed negatively by the masses. 

“People don’t want to deal with the tax authority because of corruption, because of harassment, because of people asking for speed money, facilitation money,” Aurangzeb noted. “That’s not sustainable.”

The finance minister lamented how Pakistan’s economy was reliant on imports, stating that Islamabad had to borrow to pay off existing or accumulating debt. 

“We need to create the capacity to repay loans,” Aurangzeb said. “As long as this economy stays import-based, what happens is the moment it heats up . . . we run out of dollars [and] we have to go back to the lender of last resort on our knees.”

Since April, Prime Minister Shehbaz Sharif has visited Saudi Arabia, UAE and China to attract foreign investment in Pakistan’s key sectors. His government has repeatedly assured Pakistan’s allies it seeks not loans but “mutually beneficial” partnerships. 

“It’s about time we get real,” Aurangzeb said, pointing to Gulf investors’ demands for equity and board seats. “The ball is in our court to provide bankable, investable projects.”