ISLAMABAD: Matthew Miller, the spokesperson for the US Department of State, said on Tuesday Washington would not advise any country, including Pakistan, of “considering business deals” with Iran, warning of “ramifications” such as sanctions.
The Pakistan-Iran gas pipeline, known as the Peace Pipeline, is a long-term project between Tehran and Islamabad, which has faced delays and funding challenges for over two decades. The pipeline would transport natural gas from Iran to neighboring Pakistan.
Pakistan said in March it would seek a US sanctions waiver for the pipeline, to which the US responded publicly, saying it did not support the project and cautioned about the risk of sanctions in doing business with Tehran.
Widespread media reports this week suggested Iran had slapped Pakistan with a final notice to finish its part of a cross-border gas pipeline or face international arbitration and possibly billions of dollars in fines.
“We will continue to enforce our sanctions against Iran. And as a matter of course, we also advise anyone considering business deals with Iran to be aware of the potential ramifications of those deals,” Matthew told reporters in response to a question about Pakistan’s push to complete the pipeline and seek a US sanctions waiver.
“At the same time, helping Pakistan address its energy shortage is a priority for the United States, and we continue to discuss energy security with the Government of Pakistan.”
The pipeline deal, signed in 2010, envisaged the supply of 750 million to a billion cubic feet per day of natural gas for 25 years from Iran’s South Pars gas field to Pakistan to meet its rising energy needs. The pipeline was to stretch over 1,900 kilometers (1,180 miles) — 1,150 km within Iran and 781 km within Pakistan.
Tehran says it has already invested $2 billion to construct the pipeline on its side of the border, making it ready to export. Pakistan, however, did not begin construction and shortly after the deal said the project was off the table for the time being, citing international sanctions on Iran as the reason.
Iran’s oil minister at the time responded by saying that Iran carried out its commitments and expected Pakistan to honor its own, adding that Pakistan needed to pick up the pace of work.
In 2014, Pakistan asked for a 10-year extension to build the pipeline, which expires in September this year. Iran can take Pakistan to international court and fine the country. Local media has reported Pakistan can be fined up to $18 billion for not holding up its half of the agreement.
Faced with a potential fine, Pakistan’s government earlier this year gave the go ahead in principle to commence plans to build an 80 km segment of the pipeline. In March, Pakistan announced it would seek the sanctions’ waiver.
Washington’s support is crucial for Pakistan as the country seeks approval from the IMF executive board for a 37-month $7 billion bailout program signed in July.
Pakistan, whose domestic and industrial users rely on natural gas for heating and energy needs, is in dire need for cheap gas with its own reserves dwindling fast and LNG deals making supplies expensive amidst already high inflation.
Iran has the world’s second-largest gas reserves after Russia, according to BP’s Statistical Review of World Energy, but sanctions by the West, political turmoil and construction delays have slowed its development as an exporter.
Originally, the Pakistan-Iran deal also involved extending the pipeline to India, but Delhi later dropped out of the project.
“I fully support the efforts by the US government to prevent this pipeline from happening,” US Assistant Secretary of State Donald Lu said as he gave testimony at a Congressional hearing earlier this year. “We are working toward that goal.”
US warns Pakistan of ‘ramifications’ of business deals with Iran amid gas pipeline dispute
https://arab.news/bzwuj
US warns Pakistan of ‘ramifications’ of business deals with Iran amid gas pipeline dispute
- Iran has slapped Pakistan with final notice to finish its part of cross-border gas pipeline or face international arbitration
- Pakistan said in March it would seek US sanctions waiver for the gas pipeline but Washington says it does not support the project
Pakistan government open to talks with Imran Khan’s party, refuses to allow Nov. 24 protest
- Interior Minister Mohsin Naqvi says negotiations cannot take place amid ‘threats’ from PTI
- He says it is not possible to allow a rally in Islamabad ahead of a Belarusian delegation visit
ISLAMABAD: Pakistan’s Interior Minister Mohsin Naqvi on Thursday suggested the government was open to talks with former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party but ruled out allowing its planned protest in Islamabad on November 24, ahead of a high-level visit by a Belarusian delegation.
The PTI has announced a “long march” to Islamabad on November 24, primarily demanding the release of Khan, who has been imprisoned since August last year on charges the party contends are politically motivated.
Additionally, the party’s protest is also meant to raise its voice against alleged rigging in the February 8 general elections while calling for measures to ensure judicial independence, which it believes has been undermined by the 26th constitutional amendment.
On Monday, Islamabad’s district magistrate imposed a two-month-long ban on gatherings of more than five people in the capital, invoking Section 144 of the Code of Criminal Procedure. This provision allows the government to prohibit political assemblies, rallies, demonstrations, sit-ins and other activities for a specified period.
Addressing the media in Islamabad, the interior minister said the government was fully prepared to stop the protest, with Punjab police, Rangers and Frontier Constabulary (FC) troops assisting the Islamabad police in operational duties.
“Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur and Barrister Gohar Khan met Imran Khan twice in the past two days,” Naqvi said, amid speculation that the PTI leaders discussed the option of negotiating with the government. “If they wish to initiate talks [with the government], they should do it. If they want to hold talks, they should tell us.”
The minister added, however, that no talks were possible if the PTI headed to Islamabad and “wielded sticks against us” on November 24.
“Let me tell you one thing: negotiations don’t take place with threats, though I personally feel talks should take place between everyone,” he said.
In response to a question, Naqvi clarified that no talks were currently underway with Khan, who is facing a new case related to violence at a PTI rally that took place in September while the ex-premier was in jail.
Highlighting the upcoming visit of Belarus President Alexander Lukashenko and his 10 cabinet ministers to Pakistan on a three-day visit next week, Naqvi said no permission could be granted for any rally or protest in the federal capital.
He added that a decision on whether to suspend mobile signals in Islamabad ahead of the protest would be finalized by Friday night.
Just a day earlier, it emerged that Pakistan’s interior ministry had authorized the deployment of paramilitary Punjab Rangers and FC forces in Islamabad since November 7 to maintain law and order.
Pakistan’s parliament also passed a law earlier this year to regulate public gatherings in Islamabad, specifying timings for rallies and designating specific areas. The law prescribes three-year jail terms for participants in illegal assemblies and 10-year imprisonment for repeat offenders.
Pakistani stocks surge past 97,000 as investor confidence grows on economic reforms
- Analysts attribute rally to strong economic data, rising optimism over government reforms
- Stock market has remained bullish since the government slashed policy rate in November
ISLAMABAD: The Pakistan Stock Exchange (PSX) on Thursday gained 1,700 points, surging past the 97,000 mark during intra-day trading for the first time, with analysts attributing the rally to strong economic data and rising investor optimism over government reforms.
The benchmark KSE-100 index rose by 1,781.94 points, or 1.86 percent, to close at 97,328.39. It touched an unprecedented peak of 97,437.15 during intra-day trading.
Analyst Ahsan Mehanti of Arif Habib Corporation said surging foreign exchange reserves and speculations over the government’s decisions on economic reforms and privatization “played a catalyst role in the record surge at the PSX.”
“Stocks are bullish, led by scrips across the board as investors weigh a drop in government bond yields and robust economic data for current account surplus, remittances, exports and foreign direct investments,” Mehanti told Arab News.
In October, Pakistan’s external current account recorded a surplus of $349 million, marking the third consecutive month of surplus and the highest in this period. The current account reflects a nation’s transactions with the world, encompassing net trade in goods and services, net earnings on cross-border investments and net transfer payments.
A surplus indicates that a country is exporting more than it is importing, thereby strengthening its foreign exchange reserves.
A bullish trend has been observed in the stock market since Pakistan’s central bank cut its key policy rate by 250 basis points, bringing it to 15 percent earlier this month. Economic indicators have also steadily improved since securing a 37-month, $7 billion bailout from the International Monetary Fund (IMF) in September.
In the past, the country faced a prolonged economic crisis that drained its foreign exchange reserves and saw its currency weaken amid double-digit inflation. Last year, Pakistan narrowly avoided a sovereign default by clinching a last-minute $3 billion IMF bailout deal.
Saudi mission in Pakistan condemns militant attack that killed 12 soldiers this week
- The embassy extends condolences to victims’ families and the Pakistani people in a statement
- The statement reiterates the kingdom’s position ‘rejecting all forms of violence and terrorism’
ISLAMABAD: The Saudi embassy in Pakistan on Thursday condemned a militant attack on a joint security checkpoint in the northwestern Khyber Pakhtunkhwa province that killed 10 army soldiers and two Frontier Constabulary (FC) personnel, extending condolences to the victims’ families and the Pakistani people.
The attack, which occurred on Tuesday, targeted a joint army and paramilitary check post in the Mali Khel area of Bannu District, where militants detonated an explosive-laden vehicle after troops repelled their attempt to storm the post, according to the Pakistan military. Six militants were killed during the exchange of gunfire that followed.
“The Embassy expresses the Kingdom of Saudi Arabia’s condemnation of the attack on a joint checkpoint in the city of Bannu in the Khyber Pakhtunkhwa province of Pakistan, which resulted in the death and injury of a number of people,” the Saudi diplomatic mission in Islamabad said in a statement.
“The Embassy reiterates the Kingdom’s position rejecting all forms of violence and terrorism,” it added. “The Embassy extends its deepest condolences and sincere sympathy to the families of the victims, the government and the people of Pakistan, and wishes the injured a speedy recovery.”
Pakistan’s northwestern Khyber Pakhtunkhwa province has experienced a resurgence of militant violence in recent months, with a growing number of attacks on security forces and infrastructure despite the country’s efforts to combat militancy.
The region has long been a hotspot for insurgent activity, with militants frequently targeting military and paramilitary personnel.
Saudi Arabia has consistently expressed its support for Pakistan’s fight against extremist violence, emphasizing the importance of international cooperation to tackle militancy and ensure regional stability.
Imran Khan remanded to police for five days in case involving violence at Rawalpindi rally
- Main charges include terrorism, vandalism, destruction of property, attempted murder
- Khan, jailed since August 2023, claims all charges against him are politically motivated
ISLAMABAD: A Pakistani lower court has remanded former prime minister Imran Khan to Rawalpindi police for interrogation for five days in a case pertaining to violence at a rally organized by his Pakistan Tehreek-e-Insaf (PTI) party in September, the party said on Thursday.
Khan was arrested in the rally case on Wednesday night, hours after the Islamabad High Court had granted him bail in another case that has popularly come to be called the new Toshakhana case, filed in July and involving a jewelry set worth over €380,000 gifted to the former first lady by a foreign dignitary when Khan was prime minister from 2018-2022. The couple was accused of undervaluing the gift and buying it at a lesser price from the state repository. Both deny wrongdoing.
Khan has been in jail since August last year following his conviction in four cases, two of which have been suspended, including an original one relating to state gifts, and he was acquitted in the rest.
“An anti-terrorism court granted a five-day physical remand to Rawalpindi police in the first information report (FIR) registered on Sep. 28,” the PTI party said in a statement. “The FIR surfaced last night and Rawalpindi police declared the arrest shortly afterwards.”
The PTI party added that arresting a suspect in a case registered in September right after he was granted bail in another case was an “absolute mockery of the law.”
The police report of the case lists terrorism, attempted murder, vandalism, destruction of public and state property, and interference in government operations as the main charges. It says participants of the PTI rally created unrest, obstructed public access by burning tires and caused difficulties for citizens.
It also charged PTI leaders and supporters with raising anti-government slogans, hurling stones at the police and attacking them with iron rods during the protest. PTI rallygoers damaged several police vehicles and one police officer was injured, the report adds.
Khan was in prison when the Sept. 28 rally took place. The former premier denies any wrongdoing and alleges all the cases registered against him since he was removed from power in 2022 were politically motivated to keep him in jail.
His PTI party is staging a “long march” to the capital city, Islamabad, on Nov. 24, aiming to pressurise the government to release him.
Pakistan urges action after UN labels Israel’s war in Gaza consistent with genocide
- The UN report pointed at high civilian casualties, Israel’s use of starvation as a weapon of war
- Pakistan welcomes the report’s condemnation of Israel’s smear campaign against UN agencies
ISLAMABAD: Pakistan on Thursday urged the international community to hold Israel accountable for its conduct in Gaza, citing a recent United Nations report describing it as consistent with genocide.
The UN Special Committee to Investigate Israeli Practices, established in 1968, released its latest findings on Nov. 14. The report highlights mass civilian casualties and widespread destruction in Gaza, pointing out the intentional imposition of life-threatening conditions on Palestinians, including starvation as a weapon of war.
It also called for immediate international intervention to address the humanitarian crisis and ensure accountability for violations of international law.
“We welcome the last, latest report of the UN Special Committee to Investigate Israeli Practices released last week,” foreign office spokesperson Mumtaz Zahra Baloch said during her weekly news briefing. “The report describes Israel’s warfare practices in Gaza as acts of genocide and documents millions of civilian casualties and grievous conditions intentionally imposed on Palestinians.”
“Pakistan welcomes the committee’s condemnation of the ongoing smear campaign and attacks against UNRWA [United Nations Relief and Works Agency] and the United Nations, and supports its call on all member states to uphold their legal obligations to prevent and stop Israeli violations of international law and holding it accountable,” she added.
The UN report was released in the context of intensified violence in Gaza, where Israeli airstrikes and a crippling blockade have led to a deepening humanitarian catastrophe. According to the document, the systematic targeting of civilian infrastructure and essential supplies has compounded the suffering of millions of Palestinians.
Pakistan has consistently advocated for Palestinian rights and the two-state solution. It also expressed “deep regret” over the United States’ veto of a ceasefire resolution a day earlier, noting that Washington cast the “sole negative vote” among UNSC permanent members.
