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T20 World Cup: Pakistan say have ‘advantage’ as conditions in Multan similar to Dubai

Pakistani cricketer plays a shot during a warm-up match against Bangladesh in Dubai, UAE, on September 30, 2024, ahead of the ICC Women’s T20 World Cup. (@TheRealPCB/X)
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Updated 43 min 52 sec ago
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T20 World Cup: Pakistan say have ‘advantage’ as conditions in Multan similar to Dubai

  • Pakistan women’s team placed in Group B with Australia, India, New Zealand and Sri Lanka 
  • Pakistan will play their first match against Sri Lanka on Thursday before facing India on Oct. 6
Updated 43 min 52 sec ago
Hasaan Ali Khan

ISLAMABAD: Pakistan women’s cricket team member Tuba Hassan on Tuesday hoped the green shirts will be able to take advantage of the conditions in Dubai, saying that they were quite similar to Multan, as the national squad gears up for the upcoming T20 World Cup in the United Arab Emirates. 

The ICC Women’s T20 World Cup is scheduled to be played in the UAE from Oct. 3-20. Pakistan has been placed in Group B with heavyweights Australia, India, New Zealand and Sri Lanka. The South Asian nation will play their first match against Sri Lanka on Thursday before facing off against arch-rivals India on Oct. 6. 

“The conditions in Multan and Dubai are almost the same,” Hassan said in a video message shared by the Pakistan Cricket Board (PCB). “We have this advantage.”

The South African women’s team beat Pakistan 2-1 in a three-match T20 series that took place in Pakistan last month. Despite the loss, cricketer Tasmia Rubab said she gained a lot of confidence after playing for Pakistan in the three-match series last month. 

The cricketer hoped she could muster the same confidence in the World Cup this month. 

“There are a lot of big teams in the World Cup against whom we will compete,” she said. 

Pakistan made a dismal start to their World Cup preparations, losing to Scotland and Bangladesh in both warm-up matches. On Saturday, Scotland defeated Pakistan by eight wickets while the green shirts lost to Bangladesh on Monday by 23 runs. 

Still, cricketer Najiha Alvi hoped the green shirts would put up a good performance against the other teams. 

“I hope we will perform well in the World Cup,” Alvi said. 

Pakistan squad: Fatima Sana (captain), Aliya Riaz, Diana Baig, Gull Feroza, Iram Javed, Muneeba Ali (wicket-keeper), Nashra Sundhu, Nida Dar, Omaima Sohail, Sadaf Shamas, Sadia Iqbal (subject to fitness), Sidra Amin, Syeda Aroob Shah, Tasmia Rubab and Tuba Hassan

Traveling reserve: Najiha Alvi (wicket-keeper)

Non-traveling reserves: Rameen Shamim and Umm-e-Hani

Topics: Pakistan cricket team Cricket Women T20 World Cup Dubai ICC T20 World Cup

Pakistan annual inflation slows to lowest in almost four years in September

Updated 9 min 38 sec ago
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Pakistan annual inflation slows to lowest in almost four years in September

  • Consumer prices rose 6.93% in September from a year ago, according to Bureau of Statistics 
  • CPI decreased by 0.5% in Sept. 2024 as compared to increase of 0.4% in previous month
Updated 9 min 38 sec ago
Aamir Saeed

ISLAMABAD: Pakistan’s inflation clocked in at 6.9% on a year-on-year basis in September 2024, the bureau of statistics said on Tuesday, slowing to the lowest rate in almost four years after the government slashed fuel prices and food costs eased.

Consumer prices rose 6.93% in September from a year ago, according to data released by Pakistan Bureau of Statistics. The reading in August 2024 stood at 9.6%.

On a month-on-month basis, CPI decreased by 0.5% in September 2024 as compared to an increase of 0.4% in the previous month and an increase of 2.0% in September 2023.

“CPI National for the month of September, 2024 decreased to 6.93% over September, 2023,” the statistics bureau said in a statement. “The Urban CPI decreased to 9.29% while Rural CPI decreased to 3.65%.”

“Due to aggressive monetary tightening, the State Bank of Pakistan (SBP) has achieved bringing inflation below the one-year target of 7% ahead of time,” Mohammed Sohail, CEO Topline Securities, said in a note.

Pakistan’s Finance Division announced on Monday it had slashed the price of petrol by Rs2.07 per liter till the next fortnight due to the fluctuating global prices of petroleum products.

Petroleum and electricity prices have been the key drivers of high inflation in Pakistan over the past two years. Inflation averaged close to 30% in FY23 and 23.4% in FY24, which ended on June 30, 2024.

The September inflation reading is lower than official expectations, as the finance ministry had expected inflation to decelerate in the next two months (September-October) and hover around 8-9%.

“Inflation is expected to remain within the range of 8% to 9% in September and October 2024,” the Ministry of Finance said in its ‘Monthly Economic Update and Outlook’ released last week. 

The slowing inflation figure also gives impetus to a further cut in the key policy rate.

In September, the central bank announced its most aggressive cut in the key policy rate since April 2020, reducing it by 200bps to bring it down to 17.5% amid slowing inflation and declining international oil prices.

“With continued disinflation expected, mainly on the back of high base effect, falling global commodities, this gives SBP room to keep lowering the policy rate, as real interest rates are nearly 1090bps positive,” Shahid Ali Habib, CEO Arif Habib Limited, said in a note.

The IMF last month approved a $7 billion loan program that includes tough measures such as higher taxes on farm incomes and electricity prices. The prospect of such moves has worried poor and middle-class Pakistanis. But inflation has started moving on a downward trend, albeit from a high base.

Topics: Pakistan inflation in Pakistan Pakistan economy Arab News Pakistan

Over 80 Pakistani firms to participate in major Gulf tech show this month

Updated 2 min 4 sec ago
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Over 80 Pakistani firms to participate in major Gulf tech show this month

  • Gitex Global is considered one of the world’s largest IT events 
  • This year’s event slated to be held at Dubai World Trade Center 
Updated 2 min 4 sec ago
Hasaan Ali Khan

ISLAMABAD: More than 80 Pakistani companies will be showcasing their products and services at the Gulf Information Technology Exhibition (Gitex) 2024, slated to be held this month in the United Arab Emirates, state-run media reported on Tuesday.

Gitex Global is considered one of the world’s largest tech shows, connecting industry leaders from big tech and innovative startups, as well as government officials, expert investors and corporate buyers. This year’s event will be held from Oct. 14-18 in Dubai. 

“The Pakistan Software Export Board and Trade Development Authority of Pakistan will be attending the event with more than 80 leading companies and start-ups participating,” Radio Pakistan said on Tuesday. 

Last year, representatives of Pakistani IT firms described the Gitex event as a “great” platform for Pakistani companies to connect with global firms and sign agreements and partnership deals. 

Last year’s 43rd edition of the Gitex event, focusing on AI innovations, featured over 6,000 exhibitors and at least 180,000 tech executives from 170 countries.

Topics: Pakistan Dubai Ties

International Maritime Organization launches major ship recycling project in Pakistan

Updated 01 October 2024
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International Maritime Organization launches major ship recycling project in Pakistan

  • Safe and Environmentally Sound Recycling of Ships and Decent Work Project holds first workshop in Karachi
  • Pakistan is among top five ship recycling nations in the world, new project builds on ongoing project in Bangladesh
Updated 01 October 2024
Arab News Pakistan

ISLAMABAD: The International Maritime Organization has launched a new project to promote sustainable ship recycling in Pakistan, one of the top five ship recycling nations in the world. 

The Safe and Environmentally Sound Recycling of Ships and Decent Work (SENSREC-DW) Project held its first workshop in Karachi last month, following IMO Secretary-General Arsenio Dominguez’s first official visit to the South Asian country. 

“The new project is a collaboration between the IMO and the International Labour Organization (ILO), aimed at enhancing safety and environmental responsibility in the ship recycling industry, while upholding global labor rights standards,” the IMO said in a statement. 

The primary focus of the workshop, which gathered approximately 150 people representing stakeholders from various sectors, was how to ensure compliance with international standards outlined in the Hong Kong Convention, the Basel Convention and ILO treaties, and strategies for improving working conditions, especially in developing countries, given the high risks associated with shipbreaking activities. 

Participants outlined specific objectives and activities for the project, emphasizing the need for capacity building and training programs tailored to local contexts. They took part in a technical visit to ship recycling yards in Gadani, Baluchistan, to learn from the field and observe some of the key challenges faced by the industry. 

“The outcomes of their discussions will guide the implementation of initiatives designed to promote decent work and sustainable practices in ship recycling facilities across Pakistan,” the IMO said. 

The Hong Kong Convention, adopted in 2009, is designed to ensure that ships are recycled without posing risks to human health or the environment. It mandates that ships carry an Inventory of Hazardous Materials and that recycling facilities develop a specific Ship Recycling Plan for each vessel. The Convention is set to enter into force on June 26, 2025 and aims to enhance safety standards across the global ship recycling industry. 

SENSREC-DW builds on the ongoing SENSEREC project in Bangladesh, first launched in 2015. 

Topics: International Maritime Organization Imo SENSREC-DW ILO Ship recycling Arab News Pakistan

First Pakistan-Russia Trade and Investment Forum kicks off in Moscow

Updated 23 min 6 sec ago
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First Pakistan-Russia Trade and Investment Forum kicks off in Moscow

  • Over 70 Pakistani businesspersons, 100 Russian companies are taking part in event 
  • Ties between Pakistan and Russia, once Cold War rivals, have warmed up in recent years 
Updated 23 min 6 sec ago
SAIMA SHABBIR

ISLAMABAD: Pakistan’s Privatization Minister Abdul Aleem Khan has said Islamabad is seeking enhanced cooperation with Russia in several avenues, as the first ever trade and investment forum between the two countries kicked off in Moscow on Tuesday. 

Khan is leading a delegation of over 70 businesspersons from various sectors in the first ever Pakistan-Russia Trade & Investment Forum in Moscow. According to the state-owned Pakistan Television News, over 100 Russian companies are taking part in the forum as well. 

Speaking at the forum, Khan said the current volume of trade between the two countries does not reflect the true potential of Pakistan and Russia. The minister said today is the “start of new bilateral relations with Russia,” according to PTV News. 

“He said this forum will open new avenues of trade and investment between the two countries,” PTV said, adding that Islamabad attaches “huge importance” to its ties with Moscow. 

According to the PTV, Russian Deputy Trade and Investment Minister Alexey Gruzdev said interactions between the business delegations of both countries will have a positive impact on their bilateral ties. 

Pakistan and Russia, once Cold War rivals, have warmed up to each other in recent years through regular business and trade interactions. As Islamabad seeks to enhance its role as a transit hub for landlocked economies in Central Asia, it has expressed interest in connecting with Russia through Central Asia for bilateral trade.

Islamabad’s ties with Russia also saw significant improvement last year after Pakistan started purchasing Russian crude oil at a discount. Geopolitical tensions triggered fuel prices to more than double in Pakistan last year, forcing the country to opt for cheaper sources of fuel. 

Pakistan also received its first shipment of liquified petroleum gas from Russia in September 2023, marking Islamabad’s second major Russian energy purchase.

Russia’s Deputy Prime Minister Alexei Overchuk arrived in Islamabad last month for a brief visit to the country, seeking to expand trade and investment ties with Pakistan. 

Topics: Pakistan Russia Ties Abdul Aleem Khan Russia

Chinese premier to visit Pakistan on Oct. 14 — Deputy PM Dar

Updated 3 min 12 sec ago
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Chinese premier to visit Pakistan on Oct. 14 — Deputy PM Dar

  • Visit to take place ahead of SCO’s Council of Heads of Government summit in Islamabad on Oct. 15-16
  • Malaysian Prime Minister Ibrahim is also scheduled to visit Pakistan on Wednesday with high-level delegation
Updated 3 min 12 sec ago
Arab News Pakistan

ISLAMABAD: China’s premier Li Qiang will undertake a bilateral visit to Pakistan on Oct. 14, Deputy Prime Minister Ishaq Dar confirmed this week, saying that a series of upcoming international visits hosted by the South Asian country will prove Islamabad is not isolated at the global stage.

China is a major ally and investor in Pakistan that has pledged over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC) project. The CPEC is a part of the Belt and Road Initiative, a massive China-led infrastructure project that aims to stretch around the globe.

The Chinese prime minister’s visit comes ahead of the Shanghai Cooperation Organization Council of Heads of Government Meeting in Islamabad on Oct.15-16. Founded by China and Russia in 2001, the SCO is a prominent Eurasian entity focused on political, economic, international security and defense matters.

“In the next two weeks, three important international visits are taking place in Pakistan,” Dar told ARY News channel in an interview on Monday. “Malaysia’s prime minister is coming to Pakistan on Oct. 2 with his delegation after which China’s prime minister will arrive in Pakistan on Oct. 14, which is a bilateral visit.”

Chinese investment and financial support since 2013 have been key for Pakistan’s struggling economy, including the rolling over of loans so that Islamabad is able to meet external financing needs at a time its foreign reserves are low.

Though time-tested allies, relations between the two neighbors have undergone a slight strain over the past couple of years due to recent security challenges. Separatist and religiously motivated militants have attacked Chinese projects in Pakistan and killed Chinese personnel. China has repeatedly asked Pakistan to guarantee the security of its citizens in the country. Islamabad has in turn sought to ease Beijing’s fears, vowing to provide fool-proof security to its citizens living and working in the country. 

Separately, Qiang’s visit to Pakistan will be preceded by Malaysian Prime Minister Dato’ Seri Anwar Ibrahim’s visit to Islamabad. The Malaysian premier will arrive in the South Asian country on Wednesday for a three-day visit to strengthen ties in trade, connectivity, energy and other sectors between the two nations. 

The recent string of international visits to Pakistan highlights the government’s attempts to attract foreign investment in key sectors of the economy. Pakistan’s Prime Minister Shehbaz Sharif has repeatedly assured bilateral and regional partners that Islamabad prefers seeking mutually beneficial partnerships rather than loans. 

Crisis-wracked Pakistan sees international investments as key to avert a prolonged macroeconomic crisis that has weakened the country’s national currency, drained its resources and lowered its foreign exchange reserves to alarming levels. 

Topics: Pakistan China Ties Ishaq Dar China premier's visit to Pakistan Li Qiang Premier Li Qiang SCO Summit Arab News Pakistan

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