Pakistani diplomat hails trade talks with Kabul as ‘successful’ amid ongoing security concerns

Special Pakistani diplomat hails trade talks with Kabul as ‘successful’ amid ongoing security concerns
Commerce Secretary Khurram Agha (left) meets Afghan Foreign Minister Maulvi Amir Khan Muttaqi (right) in Kabul on March 26, 2024, amid ongoing trade talks between the two countries. (Photo courtesy: Afghan Embassy Islamabad)
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Updated 28 March 2024
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Pakistani diplomat hails trade talks with Kabul as ‘successful’ amid ongoing security concerns

Pakistani diplomat hails trade talks with Kabul as ‘successful’ amid ongoing security concerns
  • The understanding between the two countries can allow Pakistani trade trucks to travel all the way to Central Asia
  • Pakistan and Afghanistan have also agreed to take steps to increase the quantum of trade in the coming months

PESHAWAR: Pakistan’s top diplomat in Kabul hailed the recent talks between the country’s commerce delegation and Afghan officials as “successful” on Wednesday, expressing hope it would give fresh impetus to bilateral trade between the two estranged neighbors.
Led by Commerce Ministry Secretary Khurram Agha, the Pakistani delegation arrived in Afghanistan’s capital on Monday to discuss trade-related issues. The visit occurred amid deteriorating bilateral relations following deadly several suicide attacks in Pakistan in the last couple of months that Islamabad attributes to the banned militant network, Tehreek-e-Taliban Pakistan (TTP), believed to be based in Afghanistan.
Faced with teething security challenges, Pakistan started expelling undocumented foreigners, predominantly Afghans, last November, as its officials accused Kabul of sheltering militants who target Pakistani civilians and security forces.
Discussing the recently concluded negotiations between the two countries, Pakistan’s Charge d’Affaires Ubaid-ur-Rehman Nizamani said the delegation’s visit aimed to strengthen trade ties with Afghanistan.
“I’m happy to report that this was a successful visit and both sides have agreed to work together for mutual benefit on a number of areas, he said in a video message.

“They will facilitate transit, they will facilitate bilateral trade and they will take all possible measures that create an environment for continuous and productive trade and economic relations between the two countries,” he continued.
The diplomatic tensions between the two countries over the last few months have led to economic losses, as key border crossing for trade and travel have remained intermittently closed, hitting trade-dependent business and industrial communities.
Flanked by Pakistan’s commerce secretary and the head of its mission in Kabul following the trade talks, Afghanistan’s Interim Minister for Industry and Commerce Nurudin Azizi said his side had held fruitful negotiations in a cordial environment with the visiting delegation.
“We discussed in detail with the Pakistani side specific issues related to heavy transport vehicles that will be resolved,” he informed. “We will achieve positive results as our discussions remained productive.”
Azizi hoped that issues related to trade, transportation and transit would get gradually resolved by the coming year, adding it would benefit both neighboring countries.
He said that Afghanistan expected to sign a formal agreement with Pakistan within six months, allowing Pakistani trucks to enter Afghanistan and travel to the Central Asian states and Afghan trucks to go all the way to the Pakistani port cities of Karachi and Gwadar.
Apart from discussing trade-related issues, the two sides also focused on movement of passengers, patients and businesspeople across their common border during these negotiations.
Azizi noted uninterrupted trade and business between Kabul and Islamabad would play a significant role creating a peaceful environment between the two countries and facilitate their economic development.
He said the two sides also pledged to enhance their existing trade volume, adding that both countries could become ideal markets for each other if they did not allow business to be affected by any geopolitical tensions.
The Afghan official said his country could export agricultural products to China and other countries via Pakistan ports and cities.


Supreme Court dismisses petition challenging extension in tenure of army chief

Supreme Court dismisses petition challenging extension in tenure of army chief
Updated 24 sec ago
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Supreme Court dismisses petition challenging extension in tenure of army chief

Supreme Court dismisses petition challenging extension in tenure of army chief
  • Pakistan earlier this month passed bills to extend the tenures of heads of the armed forces to five years from three
  • Rights advocates say measures by PM Sharif’s coalition could be aimed at shoring up support from powerful military figures

ISLAMABAD: The Constitutional Bench of the Pakistan Supreme Court on Tuesday dismissed a petition challenging the extension of the tenure of Army Chief Gen. Asim Munir, state news agency APP said. 

Pakistan’s parliament earlier this month passed bills to extend the terms of the heads of the armed forces to five years from three, a move that has been opposed by rights activists as well as the opposition Pakistan Tehreek-e-Insaf (PTI) party of jailed ex-Prime Minister Imran Khan.

The PTI believes extending the term of commanders including the army chief would deal another blow to the embattled Khan and his party, which blames the military for his downfall. The army denies involvement. 

“The petition was dismissed after the petitioner Mahmood Akhtar Naqvi failed to appear before the court and defend his argument in spite of repeated notices,” APP said. “Also, the new legislation fixing the tenure of all three service chiefs paved the way for the dismissal of the petition.”

The office of the army chief is considered to be the most powerful in the country, with the military having ruled Pakistan for almost half of its 75-year history. Even when not directly in power, the army is considered to be the invisible guiding hand in politics and holds considerable sway in internal security, foreign policy, and economic affairs, among other domains. 

The coalition government led by Prime Minister Shehbaz Sharif has defended the passage of the new bills that extend the tenures of the army, navy and air force chiefs, saying the move would check against services chiefs granting themselves extensions and “formalize” the duration of their service. The government says the bills are aimed at building continuity and avoiding the political turmoil that usually surrounds the appointment of the army chief every three years. 

Rights activists and democracy advocates say the measures by the Sharif-led coalition, which is opposed to Khan and took power after an election in February, could be aimed at shoring up support from powerful military figures.

Under the new law, Gen.l Munir, who took office in November 2022 with a timeline to retire in 2025, will serve until 2027 irrespective of a retirement age of 64 for a general.

Khan, who has been in jail since August last year, has been at odds with generals he blames for his 2022 ousting, after he fell out with then-army chief Qamar Javed Bajwa. The military denies it interferes in politics. 

Khan’s party-backed candidates won the most seats in February’s election but fell short of a majority, clearing the way for his opponents led by Sharif to form a government.

Khan’s supporters have since been agitating in parliament and on the streets, alleging that the election was rigged to keep them out of power, which the election commission denies. The PTI says the ruling alliance does not enjoy legitimacy, an accusation the government rejects.

The passage of the new bills on extension in service tenure follows controversial amendments made to the constitution last month, granting lawmakers the authority to nominate the chief justice of Pakistan, who previously used to be automatically appointed according to the principle of seniority.

The amendments allowed the government to bypass the senior-most judge of the Supreme Court, Justice Mansoor Ali Shah, and appoint Justice Yahya Afridi as the country’s top judge.

The opposition and the legal fraternity have opposed the amendments, arguing that they are aimed at granting more power to the executive in making judicial appointments and curtailing the independence of the judiciary. The government denies this.


All schools to reopen in Pakistan’s Punjab province as air quality improves

All schools to reopen in Pakistan’s Punjab province as air quality improves
Updated 37 min 9 sec ago
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All schools to reopen in Pakistan’s Punjab province as air quality improves

All schools to reopen in Pakistan’s Punjab province as air quality improves
  • Lahore’s air quality index fell to 158 on Tuesday, which IQAir categorizes as unhealthy, after crossing 2,000 last week
  • Record air pollution has triggered mass hospitalizations, school closures and lockdown orders in Punjab province

ISLAMABAD: Air quality improved in Pakistan’s Punjab province on Tuesday, prompting authorities in the worst-affected Lahore and Multan cities to reopen schools from Wednesday after over ten days of being closed due to record-high pollution levels.

Lahore’s air quality index (AQI) fell to 158 late on Tuesday, which Swedish group IQAir categorizes as unhealthy, after crossing 2,000 in some locations last week.

On Monday, the Punjab government had said schools would reopen across Punjab province, except for in the Lahore and Multan divisions.

“The ambient air quality has improved in Punjab, due to rain in upper parts of Punjab, change in wind direction and speed,” a notification said.

“Therefore, all the educational institutions in the whole province, including Lahore and Multan Division, shall be opened w.e.f. 20-11-2024 (Wednesday).”

The notification said school opening timings could not be before 845am, as smog is thickest in the early morning hours, and all students and staff had to wear face masks.

“There shall be a complete ban on outdoor sports and outdoor co-curricular activities till further orders,” the notification added. “All educational institutions shall introduce class wise school closing timing to avoid traffic congestions.”

Record-high air pollution levels have triggered hundreds of hospitalizations, junior and high school closures and stay-at-home orders in several districts of Punjab, including the provincial capital of Lahore, which has been enveloped in a thick, toxic smog since last month.

Schools and government offices were closed earlier this month in many districts of Punjab, with the closures affecting the education of more than 20 million students, according to associations representing private and government schools.

Authorities in 18 districts of Punjab also closed all public parks, zoos and museums, historical places, and playgrounds for ten days last week. 

A court in Lahore ordered the government to shut all markets after 8pm, while authorities have already banned barbecuing food without filters and ordered wedding halls to close by 10pm.

Last week, the UN children’s agency said the health of 11 million children in Punjab province was in danger because of air pollution.


Pakistan, ADB sign ‘landmark’ $500 million climate loan agreement

Pakistan, ADB sign ‘landmark’ $500 million climate loan agreement
Updated 19 November 2024
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Pakistan, ADB sign ‘landmark’ $500 million climate loan agreement

Pakistan, ADB sign ‘landmark’ $500 million climate loan agreement
  • Program is aimed at strengthening Pakistan’s capacity for climate change adaptation and disaster risk management
  • Finance minister said last month Pakistan is also targeting around $1 billion in a formal request for climate cash from IMF 

ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Tuesday signed a “landmark” $500 million dollar loan agreement under the ‘Climate and Disaster Resilience Enhancement Program,’ state broadcaster Radio Pakistan reported. 

Pakistan is one of the most vulnerable countries to climate change, according to the Global Climate Risk Index.

Finance Minister Muhammad Aurangzeb said last month Pakistan was targeting around $1 billion in a formal request for funding from an IMF facility that helps low and middle income countries mitigate climate risk. The IMF already agreed to a $7 billion bailout for Pakistan in September but has additional funding available via its Resilience and Sustainability Trust (RST), created in 2022 to provide long-term concessional cash for climate-related spending such as adaptation and transitioning to cleaner energy.

“The signing of the [ADB] agreement underscores Pakistan’s commitment to prioritize climate change initiatives and scaling up disaster risk financing using a risk-layered approach,” Radio Pakistan said, quoting Pakistan’s Minister for Economic Affairs, Ahad Cheema. 

The program is aimed at strengthening Pakistan’s capacity for climate change adaptation and disaster risk management and will address the country’s vulnerabilities to natural disasters and climate impacts.

“The core objective of the program is to enhance institutional frameworks for disaster risk management by improving disaster risk mapping, response coordination, and gender-sensitive public investments,” Radio Pakistan added. 

Pakistani Prime Minister Shehbaz Sharif, who spoke at a number of events at the UN COP29 climate summit last week, used the forum to highlight the need to increase climate finance for vulnerable, developing countries. He said developing countries would need an estimated $6.8 trillion by 2030 to implement less than half of their current nationally determined contributions (NDCs) or national action plans for reducing emissions and adapting to climate impacts defined by the Paris Agreement.

The main task for nearly 200 countries at the COP29 summit, taking place from Nov. 11-22, is to broker a deal that ensures up to trillions of dollars in financing for climate projects worldwide.


Pakistan Stock Exchange crosses 96,000 to hit record intraday high

Pakistan Stock Exchange crosses 96,000 to hit record intraday high
Updated 19 November 2024
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Pakistan Stock Exchange crosses 96,000 to hit record intraday high

Pakistan Stock Exchange crosses 96,000 to hit record intraday high
  • Higher remittances, exports, foreign investment credited for bullish activity, analysts say
  • Stock Exchange witnessing bullish trend since government slashed policy rate this month

ISLAMABAD: The Pakistan Stock Exchange on Tuesday surged past 96,000 points to hit a record high in intraday trading, with analysts attributing the rally to a current account surplus in October due to higher remittances, exports and foreign direct investment.

The benchmark KSE-100 index climbed to a record 935.66 points or 0.98 percent to stand at 95,931.33 from the previous close of 94,995.67 points. It touched the 96,036.48 mark for the first time at 2:44pm PST. 

Ahsan Mehanti at the Arif Habib Corporation told Arab News potential investors had weighed surging foreign reserves as well as government decisions over reforms for loss-making state-owned enterprises, independent power producers and energy pricing.

“Stocks bullish on reports of current account surplus of $349 million in Oct. 2024 on higher remittances, exports and FDI rising by 32pc to $904m for Jul-Oct. 2024,” he said. “The next triggers could be easing political noise amid protest calls by opposition.”

Pakistan’s external current account recorded a surplus of $349 million in October 2024, 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 at 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. It’s economic indicators have also steadily improved since securing a 37-month, $7 billion bailout from the International Monetary Fund (IMF) in September.

Before this, the country went through 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-gasp $3 billion IMF bailout deal. 


Pakistan dispatches aid consignment to Syria amid Israeli strikes 

Pakistan dispatches aid consignment to Syria amid Israeli strikes 
Updated 19 November 2024
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Pakistan dispatches aid consignment to Syria amid Israeli strikes 

Pakistan dispatches aid consignment to Syria amid Israeli strikes 
  • Israel has been hitting what it calls Iran-linked targets in Syria for years but has ramped up such raids since Oct. 7, 2023
  • Before latest dispatch, Pakistan has sent 12 aid consignments to Palestine, six shipments to Lebanon, one to Syria

ISLAMABAD: Pakistan’s National Disaster Management Authority (NDMA) on Tuesday dispatched a consignment of aid for Syria where Israel has been carrying out strikes as part of its military actions in the Middle East.

Israel has been hitting what it calls Iran-linked targets in Syria for years but has ramped up such raids since the Oct. 7, 2023, attack by Hamas on Israel, leading Israel to launch a military campaign in which more than 43,000 Palestinians have been killed in Gaza and more than 3,500 people in Lebanon.

Israel launched its campaign in Gaza after a Hamas-led assault on southern Israeli communities in which some 1,200 people were killed and another 250 taken hostage, according to Israeli tallies.

“On Tuesday, 20th consignment of aid was dispatched from Karachi to Syria,” the NDMA said in a statement. 

“This aid shipment, sent by NDMA in collaboration with Al-Khidmat Foundation [NGO], comprised approximately 17 tons of supplies, including rice buckets, powdered milk, tin food, family packs, sleeping bags, medical support kits and generator. The aid was dispatched via chartered flight from Jinnah International Airport, Karachi, to Damascus, Syria.”

Before Tuesday’s dispatch, the government of Pakistan had sent 12 aid consignments to Palestine, six to Lebanon, and one to Syria. 

Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state based on “internationally agreed parameters” and the pre-1967 borders with Al-Quds Al-Sharif as its capital.

Since the beginning of the war in October last year, Pakistan has repeatedly called for a ceasefire in Gaza and raised the issue at the United Nations, the Organization of Islamic Cooperation (OIC) and other international forums, urging an end to Israeli military actions.