ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday launched Pakistan’s five-year homegrown National Economic Plan, targeting an annual investment goal of $10 billion as the country seeks to recover from a prolonged macroeconomic crisis.
Pakistan has faced a series of economic challenges in recent years, including a balance-of-payments crisis, dwindling foreign exchange reserves and a depreciating national currency. The new plan, titled “Uraan Pakistan,” or “Fly Pakistan,” aims to transition the country from its current macroeconomic stability to sustainable growth.
In July, Federal Minister for Planning Ahsan Iqbal announced the plan would be based on the 5Es framework — exports, energy, economic growth, education and equality — to foster stability and lay the groundwork for Pakistan’s future growth.
Speaking at the launch ceremony in Islamabad, Sharif emphasized that the government’s role was to promote business opportunities in the private sector and serve as a catalyst for economic progress.
“I want to tell you that our goal of investment will be $10 billion yearly,” Sharif said, urging the country’s affluent classes to also chip in and make sacrifices for the country.
Emphasizing the need to develop a strategy for an industrial and agricultural framework, he said the government must create a mechanism that drives people toward export-led growth.
“What we need is export-led growth,” he noted. “You have to create an environment for exports and also give incentives.”
The prime minister said the dollars needed to repay the country’s debt could only be earned through increased exports, urging people to withdraw money from banks amid declining interest rates to invest in the industrial and agricultural framework to boost exports and create productive employment.
He highlighted that Pakistan’s exports had grown by 11 percent, remittances by 24 percent and IT exports by 34 percent in the past five months.
Terming export-led growth as the pivot of “Uraan Pakistan,” he said tax reduction in the IT sector had helped the country strengthen digital economy.
Earlier, Finance Minister Muhammad Aurangzeb told the gathering that the economic plan stood on a handful of pillars.
“Firstly, our growth will be driven by exports to avoid the boom-bust cycles we have experienced in recent years,” he maintained. “Secondly, the private sector must take the lead in driving the country’s progress.”
Pakistan agreed to a 37-month, $7 billion bailout program from the International Monetary Fund (IMF) this year, promising the lender economic reforms in exchange. These reforms include increasing the tax base, regulating the energy sector and privatizing loss-making state-owned enterprises.
Aurangzeb hoped the five-year plan would put Pakistan on an upward economic trajectory in the next two to three years to ensure that this becomes the last IMF program the country would ever have to resorts to.
Pakistan is working actively to collaborate with regional allies in trade, defense, agriculture and other key sectors of the economy to attract foreign investment and brighten its economic prospects.
It has also enhanced bilateral trade and investment ties with close allies like Saudi Arabia, the United Arab Emirates, Russia, Central Asian states and other Gulf countries.
Last year, the country was on the verge of a sovereign debt default before Islamabad managed to clinch a last-gasp $3 billion IMF bailout to helped its economy stay afloat.
Pakistan’s finance minister has repeatedly said the country needs to undertake stringent economic reforms and develop itself as an export-led economy to achieve sustainable growth.
Pakistan unveils National Economic Plan with $10 billion annual investment target
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Pakistan unveils National Economic Plan with $10 billion annual investment target
- PM Sharif emphasizes to adopt mechanisms driving the country to export-led growth
- Pakistan has grappled with economic crises that brought it close to default last year
Young Maphaka makes debut as South Africa win toss and bat 1st in 2nd Test against Pakistan
- The 18 years and 270 days old broke Paul Adams’ South Africa record of youngest Test player
- South Africa made three changes after sealing its place in June’s World Test Championship final
CAPE TOWN: Kwena Maphaka became the youngest South African to make a Test debut as the Proteas won the toss and elected to bat in the second and final Test against Pakistan on Friday.
The 18 years and 270 days old Maphaka broke Paul Adams’ South Africa record of youngest Test player, who played his first Test against England in 1995 at the age of 18 years and 340 days.
South Africa made three changes after sealing its place in June’s World Test Championship final with a dramatic two-wicket win in the first Test at Centurion inside four days.
Australia, India and Sri Lanka all still in the race for the Lord’s WTC final against South Africa in June. Australia could advance to face South Africa if it wins the fifth Test against India in Sydney.
“It’s hot and we expect the wicket to break up,” South Africa captain Temba Bavuma said at the coin toss. “We’ve had time to wrap around what we’ve achieved, the preparations for this Test have been the priority … a chance to finish off with a good note.”
Fast bowler Mohammad Abbas brought Pakistan close to its first Test win in South Africa in 18 years with 6-54 in the second innings at Centurion but tailenders Kagiso Rabada and Marco Jansen shared a half century ninth-wicket stand and quashed the visitors hopes.
The home team, which has six successive Test wins, opted to go with the express pace of Maphaka in place of Dane Paterson, who was dropped after picking up his second successive five-wicket haul at Centurion.
Corbin Bosch was left out after making a stunning Test debut in the first Test where he took a wicket with his first ball and then made a scintillating unbeaten half century in the first innings which gave South Africa a match-winning lead of 90 runs.
Left-arm spinner Keshav Maharaj has recovered from a groin injury and replaced Bosch. Opening batter Tony de Zorzi had a thigh strain and was replaced by Wiaan Mulder as the all-rounder recovered from a finger injury and returned to the playing XI.
Pakistan, which has won just two of its last nine Test matches in this WTC cycle, once again went without a specialist spinner. It rested fast bowler Naseem Shah and brought in left-arm fast bowler Mir Hamza.
“A bit less grass than usual, but we would have had a bowl,” Pakistan captain Shan Masood said.
Father of murdered 10-year-old Sara Sharif attacked in UK prison — report
- Urfan Sharif suffered slashes to his face and body which are ‘non-life threatening,’ police say
- Sharif, Sara’s stepmother Beinash Batool were jailed for 40 and 33 years for killing 10-year-old
ISLAMABAD: Incarcerated Urfan Sharif, who was jailed last month for the murder of his 10-year-old daughter Sara Sharif in the United Kingdom, has been attacked at Belmarsh prison in southeast London, British media reported on Friday.
Sara was found dead in August 2023 at her home in Woking, a town southwest of London, after what prosecutors said was a campaign of “serious and repeated violence.” She suffered injuries including burns, multiple broken bones and bite marks.
Sharif and Sara’s stepmother fled to Pakistan immediately after the 10-year-old’s murder, before being arrested in September 2023 at London’s Gatwick airport after flying in from Dubai.
The 43-year-old father is understood to have suffered slashes to his face and body that require stitches, British broadcaster Sky News reported.
“Police are investigating an assault on a prisoner at HMP [His Majesty’s Prison] Belmarsh on 1 January,” Sky News quoted a prison service spokesperson as saying.
“It would be inappropriate to comment further while they investigate.”
The 43-year-old suffered “non-life-threatening injuries,” a Metropolitan Police spokesman told the broadcaster.
Sharif, his 30-year-old wife, Beinash Batool, who was Sara’s stepmother, were respectively jailed in Dec. for 40 and 33 years for years of horrific “torture” and “despicable” abuse that culminated in the 10-year-old’s murder.
Sara’s uncle, Faisal Malik, 29, was found not guilty of murder, but guilty of causing or allowing her death and awarded 16 years in prison.
Pakistan arrests human trafficker for involvement in 2023 Greece boat tragedy
- Over 250 Pakistanis drowned when overcrowded vessel sank off the Greek coastal town of Pylos in June 2023
- The issue of illegal migration to Europe gained significant attention in Pakistan after a similar incident last month
ISLAMABAD: Pakistan’s Federal Investigation Agency (FIA) on Friday confirmed the arrest of a human trafficker who was allegedly involved in a boat capsize off Greece that killed more than 250 Pakistanis in 2023.
Hundreds of migrants, including 262 Pakistanis, had drowned when an overcrowded vessel traveling from Libya capsized and sank in international waters off the southwestern Greek coastal town of Pylos in June 2023. It was one of the deadliest boat disasters ever recorded in the Mediterranean Sea.
The incident highlighted the perilous journeys many migrants undertake, often driven by economic hardship, as young individuals seek better financial prospects by attempting dangerous crossings to Europe. More recently, another boat carrying illegal migrants capsized on Dec. 14 near the Greek island of Gavdos, killing at least five Pakistanis.
The issue of illegal immigration to Europe and its consequences gained significant attention in Pakistan after last month’s incident, with Prime Minister Shehbaz Sharif ordering “intensified efforts” against human traffickers.
“Intelligence-based operation is underway against elements involved in illegally sending citizens to Europe via sea,” FIA spokesperson Abdul Ghafoor said. “An agent involved in [trafficking along] the Afghan land route was arrested based on intelligence reports.”
The suspect, Afsar Khan, who was arrested from the Haripur district in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, belongs to Afghanistan and is the brother of a “notorious” human trafficking agent, Qari Jan Muhammad, according to the FIA spokesperson.
The suspect was responsible for illegally trafficking Pakistanis via sea from Libya to Europe in 2023 and the FIA had found evidence relating to the crime on his phone.
On Dec. 27, Pakistani authorities arrested a woman along with two other human smugglers allegedly involved in last month’s boat tragedy.
“No one is allowed to play with lives of innocent people,” the FIA said, citing its top official in KP.
On Thursday, the FIA also issued red notices through Interpol for 20 foreign-based human traffickers involved in the 2023 Greek boat tragedy.
Pakistan province makes arrangements for safe travel to violence-hit Kurram district
- More than 130 people have died in the remote district since Nov. 21 in clashes over land, sectarian disputes
- On Wednesday, a council of tribal elders brokered a peace deal between warring tribes after weeks of efforts
ISLAMABAD: The government in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province is making arrangements to facilitate people in safely traveling to a remote district where sectarian violence has killed more than 130 people in recent weeks, a government spokesperson said on Friday.
Kurram, a northwestern district of around 600,000 people in KP, has been rocked by tribal and sectarian clashes since Nov. 21 when gunmen attacked a convoy of Shia passengers, killing 52.
The attack sparked further violence and road closures in the district and its capital Parachinar, restricting access to medicine, food and fuel in the area as casualties surged to 136.
A grand jirga, or council of political and tribal elders formed by the KP government, on Wednesday brokered a peace agreement between the warring Shia and Sunni tribes after weeks of efforts.
“Travel and security arrangements are being made for the convoy [of passengers] leaving on Saturday,” Muhammad Ali Saif, who speaks for the KP government, said in a statement.
The clashes had resulted in the closure of the only road connecting Parachinar with the provincial capital of Peshawar. Local media reported that the convoy would leave on Saturday amid stringent security by police and Frontier Constabulary (FC).
Under the peace agreement, both sides have agreed on the demolition of bunkers and the handover of heavy weapons to the authorities.
“Both sides will give a coordinated plan of action within 15 days for the collection of weapons,” Saif said. “The bunkers already existing in the area will be dismantled within a month.”
After the demolition of bunkers, according to the official, any party that launches an attack will be considered a “terrorist” and action will be taken against it.
Another point of the peace agreement said that a fine of Rs10 million ($35,933) would be imposed on those who violate the terms of the deal by using weapons against each other. It said that families who had been displaced due to the clashes in recent weeks would be rehabilitated.
Land disputes in the volatile district would be settled on a priority basis with the cooperation of local tribes and the district administration, according to the peace agreement. Opening of banned outfits’ offices would be prohibited in the district, while social media accounts spreading hate would be discouraged via collective efforts backed by the government.
CNN names Pakistan’s scenic Gilgit-Baltistan among best places to visit in 2025
- GB, a sparsely populated region, is home to five of the 14 tallest peaks in the world, including K2
- The region is frequented by thousands of foreigners each year, tour operators also arrange trips
ISLAMABAD: US-based broadcaster CNN has curated a list of 25 destinations that are particularly worth visiting in 2025, naming Pakistan’s scenic Gilgit-Baltistan (GB) region among them.
GB, a sparsely populated northern region administered by Pakistan as an autonomous territory, is home to some of the tallest peaks in the world and a major tourist destination.
Thousands of tourists and foreign climbers visit the region each year for expeditions on various peaks, paragliding and other sports activities.
“The Gilgit-Baltistan region in the Karokoram Mountains isn’t the easiest place to get to — flight schedules can be unreliable, roads can be blocked off seasonally — but it has more tantalizing peaks than a lemon meringue pie,” CNN Travel said this week.
“It’s home to five of the 14 ‘eight-thousander’ peaks recognized as the world’s highest. That includes K2, the world’s second-tallest mountain but No. 1 in terms of difficulty and danger.”
In terms of tourism and infrastructure, hiking in this region makes the Himalayas look like a traipse in Central Park, but GB is a place where going alone is not an option, according to CNN Travel.
While 2024 saw a surge in mountaineering expeditions in GB, nine mountaineers died last year in their attempts to summit various peaks in the South Asian country, according to the Alpine Club of Pakistan, which arranges various expeditions. Of these climbers, five were from Japan, one from Russia, one from Brazil and two from Pakistan.
GB, however, is accessible through trips organized by reputable global tour operators, including G Adventures and Wild Frontiers, according to CNN Travel.
“Intrepid offers a 10-day, fully supported hike through the region known as ‘Little Tibet’ starting at around $3,000,” it said.
Other top destinations on the CNN Travel list include Almaty in Kazakhstan, India’s Andaman and Nicobar Islands, Bolivia, Chemnitz in Germany, Morocco’s Rabat, Vancouver Island in Canada, and Turkiye’s Kaçkar Mountains.
