ISLAMABAD: The Pakistan Navy seized 1.3 tons of narcotics valued at approximately $26 million during a targeted operation in the North Arabian Sea aimed at disrupting “illicit maritime activities” on Thursday, the navy said in a press release.
Pakistan Navy, in collaboration with other law enforcement agencies, frequently carries out such narcotics seizure operations in the country’s territorial waters.
“Operation Himalayan Spirit” was conducted by Pakistan’s PNS Zulfiqar, which is part of the navy’s combined task force to curb illegal activities at sea. It was assisted by PMSS Kolachi along with the US Navy and US Coast Guard ships that were conducting operations in nearby waters.
“Pakistan Navy ship PNS Zulfiqar while participating in Focused Operation Himalayan Spirit successfully interdicted a vessel carrying 1.3 tons of hashish in the North Arabian Sea,” the navy said.
The operation was supported by aerial surveillance from a Pakistan Navy aircraft and the USS Abraham Lincoln Carrier Strike Group, the press release said, adding that information regarding suspicious boats was regularly exchanged among all units involved in the operation.
Pakistan’s navy described the operation’s success testament to the country’s commitment to ensure peace and security at the “world’s critical maritime choke points.”
In June, the Pakistan Navy seized 389 kilograms of highly valuable drugs during an anti-narcotics operation in the Arabian Sea.
Last year in May, it seized over 4,000 kilograms of hashish worth over $65 million with the country’s Anti-Narcotics Force.
Pakistan Navy seizes 1.3 tons of hashish worth $26 million in Arabia Sea operation
https://arab.news/2f822
Pakistan Navy seizes 1.3 tons of hashish worth $26 million in Arabia Sea operation
- “Operation Himalayan Spirit” conducted by Pakistan and US navy coast guards and ships
- Navy says operation testament to its commitment to safeguard critical maritime choke points
Pakistan’s UAE envoy, exhibitors praise GITEX Dubai as ‘great show’ for tech firms
- Eighty Pakistani IT, tech firms are taking part in GITEX in Dubai, considered one of the biggest tech exhibitions worldwide
- Pakistani exhibitors praise encouraging response received at GITEX 2024, stress importance of global networking in IT sector
ISLAMABAD: Pakistan’s Ambassador to the United Arab Emirates Faisal Niaz Tirmizi and several exhibitors taking part in the ongoing GITEX exhibition in Dubai praised the international tech show, saying that several lucrative agreements were signed by Pakistani IT companies during the five-day event.
The annual Gulf Information Technology Exhibition (GITEX) is considered one of the world’s largest tech shows, connecting industry leaders with major tech and innovation startups, as well as government officials, expert investors and corporate buyers.
This year’s five-day exhibition commenced on Oct. 14 and will end on Oct. 18. The event holds particular significance for Pakistan as it aims to showcase its growing prowess in IT as it eyes lucrative markets in the Middle East.
“It is a great show for Pakistan as many MoUs, deals and agreements were signed and many new opportunities were given to Pakistani companies,” Tirmizi told Arab News.
When asked about the deals signed by Pakistani tech companies, Tirmizi said the exact number would be known when the event concludes on Friday.
“This is the biggest trade show,” the Pakistani envoy said, adding that 6000 companies from countries around the world were participating in the event.
“Pakistan was recognized as Tech Destination of the Year and we also had a Pakistan evening which was an official evening of GITEX 2024,” he said.
Tirmizi said this exhibition provided the best opportunity for Pakistani companies to showcase their products, talent, manpower, and skills to the UAE, the region and even the world.
‘PAKISTAN’S SIGNIFICANT BRANDING’
Sajjad Mustafa Syed, the chairman of the Pakistan Software Houses Association (P@SHA), described GITEX as a “game-changer” for Pakistan IT startups and companies. He said a total of 80 Pakistani companies are participating in the event.
“The slogan of Tech Destination Pakistan was well received by the audience and several Pakistani companies signed multimillion-dollar contracts at the conference,” Syed told Arab News.
Muhammad Zohaib Khan, the founder of A2Z Creatorz, a website and mobile app development company, said such exhibitions have tremendous potential, stressing the importance of networking with buyers in the IT sector.
“There was significant branding of Pakistan as a tech destination at Gitex Dubai and many regional and global companies took interest in Pakistani companies where many deals have been signed,” Khan, who is an ex-chairman of P@SHA, told Arab News.
Muhammad Ali Tahir, marketing manager of TMC (TallyMarks Consulting), a system integrator company, said his organization secured a powerful partnership on Wednesday with Obrela, a renowned global provider of cybersecurity services, under its subsidiary Integrians Cybersecurity Solutions (ICS).
“As the exclusive service provider for Obrela’s services in Pakistan, ICS will offer comprehensive cybersecurity solutions, building a fortress for businesses to innovate fearlessly,” Tahir told Arab News.
“By combining our expertise in enterprise business solutions with Obrela’s unstoppable cyber defense, we will ensure resilient protection every step of the way,” he added.
Shahid Ismail, chief executive officer of Premier Cables, one of the leading manufacturers of fiber-optic cables, said this was the 15th consecutive year his company has participated in GITEX.
“We secured supply orders from Etisalat through this platform a few years ago and have been supplying them with fiber-optic cables ever since,” he told Arab News.
“So far, we have supplied them with up to 17,000 km of fiber-optic cables, and today at GITEX, we received a new order from Etisalat.”
Pakistan’s finmin resolves to continue macroeconomic reforms in meeting with US envoy
- Muhammad Aurangzeb resolves to continue “broad-based reforms” in energy, taxation and other sectors
- Donald Blome reaffirms Washington’s commitment to promote “high-quality” US investment for Pakistan’s growth
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb on Thursday reiterated Islamabad’s resolve to implement broad-based reforms in various economic areas such as energy and taxation, state-run media reported, in his meeting with US Ambassador Donald Blome.
Facing a prolonged economic crisis, Pakistan’s government has undertaken economic reforms in line with conditions imposed by the International Monetary Fund (IMF) in exchange for its critical aid. These reforms include terminating agreements with independent power producers and taking measures to enhance the tax net.
Islamabad views Washington as an important economic partner and ally. It has relied on American aid in the past and Washington’s huge influence with the IMF for frequent economic bailouts.
“Minister for Finance and Revenue, Senator Muhammad Aurangzeb has reiterated the government’s resolve to carry on with broad-based reforms on taxation, energy and SOE [state-owned enterprises],” state broadcaster Radio Pakistan said.
Aurangzeb issued the comments whilst meeting US Ambassador Donald Blome, who had called on him in Islamabad. The Pakistani finance minister spoke about raising the tax-to-GDP ratio to 13.5 percent, saying that authorities plan to plug leakages and bring untaxed sectors into the tax net.
He said the government had approved a “comprehensive transformation plan” for the Federal Board of Revenue (FBR), the country’s central revenue authority.
“The Minister called the macroeconomic reforms “work in progress” and pointed to more serious challenges of climate change and child stunting,” Radio Pakistan said. “Which threatened to perpetuate inequalities and disrupt the pace of economic growth and stability in Pakistan over the medium to long term.”
The state media said Blome appreciated Pakistan’s efforts for improving macroeconomic stability and lauded the government for initiating “challenging and bold reforms, particularly in the taxation and energy sectors.”
“He reaffirmed his commitment to enhancing bilateral cooperation in technical and development initiatives, and promoting high-quality US investment for economic growth of Pakistan,” Radio Pakistan said.
Pakistan to send trained nurses to Saudi Arabia
- Saudi Arabia urgently requires nurses in various fields including cardiac care, emergency and critical care, says Pakistani official
- The last date to apply for the advertised nursing jobs is October 20 while walk-in interviews to be held on October 21
ISLAMABAD: Pakistan’s Overseas Employment Corporation (OEC) will be sending qualified and trained nurses to Saudi Arabia on an urgent basis, state media reported on Thursday citing an official of the Ministry of Overseas Pakistanis.
The kingdom requires nursing staff in various fields, including cardiac care, emergency, medical care, obstetrics, pediatrics, critical care, hemodialysis, neonatal care, oncology, surgical care, and intensive care units. According to a ministry official, the demand for Pakistani workforce has been increasing in Arab countries.
“OEC an attached department of the Ministry of Overseas Pakistanis and Human Resource Development would export the female nurses workforce to the Kingdom of Saudi Arabia on an urgent basis,” state-run Associated Press of Pakistan (APP) reported.
It said walk-in interviews of the nurses will be conducted in the eastern city of Lahore on Oct. 21.
The overseas ministry official said Saudi Arabia was seeking women nurses with at least one year of experience and a Bachelor of Science degree in nursing with 16 years of education. The nurses should have a PNMC [Pakistan Nursing and Midwifery Council] registration, intensive care unit and emergency room experience.
He also said that the nurses should not be over 45 years of age.
A delegation from Saudi Arabia would conduct in-person interviews for the nurses in Pakistan that would focus on work experience, handling patients and fluency in written and spoken English.
Candidates should bring their original degrees, national ID cards, two passport-size photos and a passport depending on its availability, the official said.
Interested applicants could apply via the OEC’s website https://oec.gov.pk/, UAN 0311-0011-632 or email at [email protected].
The last date to apply for the posts is Oct. 20.
Pakistan out for 221, England need 297 to win second Test
- Spinners Shoaib Bashir, Jack Leach share seven wickets to dismiss Pakistan for 221
- Pakistan dismiss Ben Duckett for 0 to strike early blow as England attempt chase
MULTAN: Spinners Shoaib Bashir and Jack Leach shared seven wickets to bowl Pakistan out for 221 on the third day in Multan, setting England a target of 297 to win the second Test.
Bashir finished with 4-66 while Leach grabbed 3-67 but Pakistan were lifted from a precarious 134-5 by Salman Agha (63) and Sajid Khan (22) with a 65-run ninth-wicket stand.
The hosts made 366 in their first knock.
Pakistan off-spinner Sajid took 7-111, his second five-wicket haul, to bowl England out for 291 on a pitch — also used for the first Test — offering sharp turn.
Structural impediments pose challenges to Pakistan’s macroeconomic stability — central bank
- Central bank’s annual report cites low savings, falling investment, energy sector woes as structural impediments
- Average rate of inflation expected to fall below projected range of 11.5 – 13.5% in FY25, says SBP report
ISLAMABAD: Pakistan’s central bank on Thursday said structural impediments such as low savings, falling investment and an unfavorable business environment continue to pose challenges to its macroeconomic stability.
The State Bank of Pakistan released its annual report on the state of the country’s economy on Thursday, observing that Pakistan’s macroeconomic conditions had improved due to the government’s stabilization policies, successful engagement with the International Monetary Fund (IMF), reduced uncertainty, and favorable global economic environment.
After suffering from a prolonged economic crisis, Pakistani authorities have reported that the country’s foreign exchange reserves have improved while its stock market has seen record gains this year. Inflation in the country has also dropped to 6.9% in September this year from a staggering 38 percent in May 2023.
“Notwithstanding these positive developments, the report highlights that a host of structural impediments continue to pose challenges to sustaining macroeconomic stability,” the SBP said in a press release.
“Falling investment amid low savings, unfavorable business environment, lack of research & development, and low productivity, alongside climate change risks continue to constrain the economy’s growth potential,” it added.
The report pointed out that longstanding inefficiencies in the energy sector have resulted in the accumulation of circular debt. noting that the government has started to address energy sector challenges through “substantial price adjustments.”
However, the report said that there is a need to broaden these efforts by introducing sectoral policy and regulatory reforms.
“These reforms are also necessary to address the issue of inefficiencies in the State-owned Enterprises (SOEs) that continue to be a drain on fiscal resources, which are already constrained by low tax-to-GDP ratio,” the report pointed out.
The SBP also noted that it had kept a tight monetary policy that remained unchanged mostly throughout the outgoing fiscal year at 22 percent. It spoke of the reforms introduced by the SBP in foreign exchange companies and the government’s administrative actions to bring order in foreign exchange and commodity markets.
“The government continued the fiscal consolidation, with the primary balance posting a surplus for the first time in 17 years,” it said.
The SBP said the government’s fiscal consolidation efforts and the lagged impact of its tight monetary policy stance are anticipated to further weaken inflationary pressures in FY25.
“In addition, the continued fiscal consolidation is also expected to support further decline in inflation,” the report said.
“Further, the recent outturns suggest the average inflation to fall below the earlier projected range of 11.5 – 13.5% in FY25.”
