Pakistan election regulator delays Senate polls in northwest province amid oath-taking controversy

Update Pakistan election regulator delays Senate polls in northwest province amid oath-taking controversy
Lawmakers arrive at the Parliament House in Islamabad on March 3, 2024. (AFP/File)
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Updated 02 April 2024
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Pakistan election regulator delays Senate polls in northwest province amid oath-taking controversy

Pakistan election regulator delays Senate polls in northwest province amid oath-taking controversy
  • The decision was taken after the KP speaker refused to administer oath to opposition members on reserved seats
  • With the postponement of polling process in KP, the electoral contest is now taking place on 19 Senate seats

ISLAMABAD: Pakistan’s election regulatory body on Tuesday postponed Senate elections in the northwestern Khyber Pakhtunkhwa (KP) province, responding to a plea by the opposition which called for a postponement because nearly two dozen provincial lawmakers on reserved seats had not been administered the oath despite a court order.

Polling to elect members on 30 vacant seats in the upper house of the country’s bicameral parliament was scheduled to be held today, with the Election Commission of Pakistan (ECP) staff ready to hold the voting process in the KP assembly.

However, the Pakistan Peoples Party’s Ahmad Karim Kundi objected to it, saying in the plea to the ECP that 25 lawmakers belonging to his party on the reserved seats had not been sworn in by the assembly speaker despite a Peshawar High Court ruling last month. The opposition members in KP previously protested the speaker’s decision to ignore the court ruling, saying it was to prevent the lawmakers on the reserved seats from participating in the Senate elections.

After evaluating the opposition’s plea, the ECP decided to postpone the polling process.

“The Commission in exercise of powers under Article 218(3) of the Constitution read with Section 4(1), Section 8(c) and Section 128 of the Election Act, 2017 and all other enabling provisions of the Constitution and law in this behalf, postpones the poll to the Senate Election to the extent of Khyber Pakhtunkhwa till the administration of oath to the elected members against the reserved seats,” it said in its order.

The ECP had already notified unopposed candidates as winners on 18 seats, including seven each from Punjab and Balochistan on general seats, two on women seats, and two on seats reserved for scholars or technocrats.

With the postponement of election on 11 Senate seats from KP due to the incomplete electoral college, the polling process is now only taking place on 19 seats.

Pakistani senators are elected for a term of six years. They are responsible to discuss laws, provide their technical input and vote on legislations like other public representatives. Half of these senators retire every three years and new ones are elected to replace them.

The Senate consists of 100 members, of which 52 recently retired, necessitating polls on 48 vacant seats as four seats from the erstwhile Federally Administered Tribal Areas (FATA) have already been abolished due to their merger with the Khyber Pakhtunkhwa province.

The ECP printed ballot papers in four different colors for polling today, including white papers for general seats, green for technocrat seats, pink for women and yellow for minority seats.

A total of 59 candidates were prepared to contest the polls on 30 vacant seats before the postponement of voting in KP.

Senator elections in Pakistan usually take place days before the senators’ terms end, but they were delayed this time due to the ECP’s failure to hold timely general election.

General elections scheduled for November last year were held on Feb. 8 this year.

The chief minister of KP, Ali Amin Gandapur, said his party would protest the postponement of the Senate polling process in response to the latest political development.

Gandapur belongs to former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf that swept the last general elections in KP and formed the provincial administration.


Pakistan stocks bounce back strongly a day after ‘massacre’ at bourse

Pakistan stocks bounce back strongly a day after ‘massacre’ at bourse
Updated 23 sec ago
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Pakistan stocks bounce back strongly a day after ‘massacre’ at bourse

Pakistan stocks bounce back strongly a day after ‘massacre’ at bourse
  • The KSE-100 index gained 3238 points to close the weekend trading session at 109,513 points
  • Stock analysts attribute strong recovery of the market to easing pressure at local mutual funds

ISLAMABAD: The Pakistan Stock Market on Friday bounced back strongly and gained more than 3,000 points, stock analysts said, a day after it witnessed a “massacre” on the back of significant redemptions from local mutual funds and year-end profit-taking.
The benchmark KSE-100 index gained 3238.17 points to close the weekend trading session at 109,513.14 points. On Thursday, the index plummeted by 5,132 points, or 4.32 percent, to close at 106,274.97 points, compared to Wednesday’s close of 111,070.29 points.
Stock analysts attributed the strong recovery to easing pressure at local mutual funds.
“Likely easing redemption pressure at local mutual funds together with the opening up of attractive valuations encouraged value buyers to reenter the market,” Raza Jafri, head of equities at Intermarket Securities, told Arab News.
Thursday’s slump was led by Hub Power Company Limited, United Bank Limited, Oil and Gas Development Company, and ENGRO, cumulatively contributing a staggering 1,556 points to the index’s overall decline, according to Topline Securities.
The sharp sell-off was triggered by significant redemptions from local mutual funds, compounded by year-end profit-taking by institutions, that dragged the market into a “turmoil,” it added.
The decline came days after Pakistan’s central bank cut its key interest rate by 200 basis points to 13 percent, marking the fifth straight reduction since June.
Yousuf M. Farooq, head of research at Chase Securities, said the market had entered a corrective phase, following a significant rally over the past year.
“We believe that earnings will now drive market performance rather than valuation rerating,” he added.


Pakistan province aims to collect weapons to stem clashes, tribesmen may resist

Pakistan province aims to collect weapons to stem clashes, tribesmen may resist
Updated 5 min 40 sec ago
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Pakistan province aims to collect weapons to stem clashes, tribesmen may resist

Pakistan province aims to collect weapons to stem clashes, tribesmen may resist
  • Kurram, a tribal district near the border with Afghanistan, has been a flashpoint for sectarian tensions for decades
  • Last month’s clashes between Sunni and Shiite tribes have triggered a humanitarian crisis with reports of starvation

PESHAWAR: Provincial authorities in northwestern Pakistan said on Friday they planned to collect heavy weapons to stop sectarian clashes that have killed hundreds, but tribesmen in the historically lawless region said they would not give up their arms.
Kurram, a tribal district of around 600,000 near the border with Afghanistan where federal and provincial authorities have traditionally exerted limited control, has been a flashpoint for sectarian tensions for decades.
Fresh clashes between Sunni and Shiite Muslims erupted last month, triggering a humanitarian crisis with reports of starvation, lack of medicine and oxygen shortages following the blocking of the main highway connecting Kurram’s main city of Parachinar to the provincial capital Peshawar.
Mohammad Ali Saif, spokesman for the Khyber Pakhtunkhwa provincial government, said authorities had decided to dismantle private bunkers — observation posts used in the fighting by both sides — and collect heavy weapons from tribesmen in Kurram to stop the violence.
However, local tribesmen have refused to surrender their weapons, citing concerns about their safety.
“Our weapons are for self-defense, not against the state,” said Jalal Hussain Bangash, a local tribal leader.
Another tribal elder, Zakir Hussain, warned that disarmament would leave the Shiite community vulnerable to attacks. “The government is ignoring ground realities in Kurram,” he said.
“We don’t have medicine in medical stores and edibles in the markets. Previously we would use Afghanistan when the road was closed, but now the Afghan border is also closed for us after the Taliban took over the country.”
Mehdi Hussain, a doctor at the District Headquarters Hospital in Parachinar, told Reuters that more than 80 people, including children, had died in recent weeks due to the lack of medical supplies.
The provincial government and Edhi Foundation have started sending medicines to the region via helicopters.


Pakistan PM orders action against officials aiding human traffickers after Greek boat tragedy

Pakistan PM orders action against officials aiding human traffickers after Greek boat tragedy
Updated 59 min 56 sec ago
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Pakistan PM orders action against officials aiding human traffickers after Greek boat tragedy

Pakistan PM orders action against officials aiding human traffickers after Greek boat tragedy
  • Five Pakistani nationals drowned last week after a boat carrying migrants capsized off Greece
  • Four districts of eastern Punjab province identified as ‘most vulnerable’ to human traffickers

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed action against government officials who were facilitating human traffickers, his office said, following the death of five Pakistani nationals in a migrant boat capsize off Greece.
The boat tragedy, which occurred last week, underscored the perilous journeys many migrants undertake due to conflicts around the world. In the case of Pakistani nationals, the movement is mostly driven by economic reasons, with many young individuals attempting to reach European shores in search of better financial prospects.
Sharif presided over a meeting on Friday to discuss the measures the government needed to take to prevent human trafficking, which he said had brought disgrace to Pakistan worldwide.
“PM directs identification of Federal Investigation Agency officials involved in facilitating human traffickers and strict action against them,” Sharif’s office said in a statement.
The participants were briefed on the Dec. 14 boat incident off Greece and the steps taken to combat human trafficking, including parliamentary efforts to improve legislation on the issue.
The prime minister was informed that only five Pakistanis had been identified so far, while the identities of the others were still being verified, according to his office. The Pakistani embassy in Athens was in constant contact with Greek authorities regarding the migrant boat incident.
“For information and assistance regarding boat accident, Pakistan Embassy in Athens can be contacted on helpline +30-6943850188 and Ministry of Foreign Affairs Crisis Management Unit number 0519207887,” the statement read.
Sharif directed government authorities improve coordination to prevent human trafficking, highlighting that the Gujranwala, Gujrat, Sialkot and Mandi Bahauddin districts of Pakistan’s eastern Punjab province were the “most vulnerable” to traffickers.
He ordered action against officials who conducted a delayed investigation into those responsible for a 2023 boat capsizing incident in Greece that involved hundreds of migrants, including 262 Pakistanis, according to the statement.
The migrants drowned when an overcrowded vessel capsized in international waters off the southwestern Greek coastal town of Pylos. It was one of the deadliest boat disasters ever recorded in the Mediterranean Sea.
Sharif directed authorities complete the ongoing investigation into human traffickers at the earliest and submit a report in this regard.


Pakistan plans to set up 35 special economic zones to facilitate businesses, industry

Pakistan plans to set up 35 special economic zones to facilitate businesses, industry
Updated 20 December 2024
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Pakistan plans to set up 35 special economic zones to facilitate businesses, industry

Pakistan plans to set up 35 special economic zones to facilitate businesses, industry
  • Pakistani officials say over 200 B2B agreements reached with several Chinese companies, signed MoUs worth $70 million
  • PM Shehbaz Sharif calls for accelerating work on regulatory reforms to provide a conducive environment for businesses

ISLAMABAD: Pakistan plans to establish 35 special economic zones (SEZs) to facilitate businesses and industry, officials said on Friday, amid Islamabad’s efforts to boost foreign investment.
The statement came at a meeting of Board of Investment (BOI) officials, presided over by Prime Minister Shehbaz Sharif, to review progress of various ongoing projects, according to Sharif’s office.
Officials briefed the prime minister that they had conducted a survey of the 35 SEZs under the Geographical Information System (GIS) and had extensive data to accelerate the progress of projects in these zones.
More than 200 business-to-business (B2B) agreements have been reached with several Chinese companies and memorandums of understanding (MoUs) worth $70 million have been signed, they added.
“Work on regulatory reforms should be accelerated to provide a conducive environment for business in the country,” Sharif was quoted as saying by his office.
“An effective and comprehensive roadmap should be created for the completion of B2B agreements with international investors and the implementation of signed memorandums of understanding.”
Pakistan, which has been facing an economic crisis, has been making attempts to boost foreign direct investment in a bid to support its $350 billion fragile economy, with Islamabad seeing a flurry of high-level exchanges with China, Saudi Arabia, Japan, Tajikistan, Azerbaijan, Qatar and other countries in recent months.
During the BOI meeting, PM Sharif instructed officials to set investment targets that could be achieved at the earliest.
“Effective marketing of investment opportunities in Pakistan is essential to attract foreign investors,” he said. “Construction of business facilitation centers, organization of road shows and other such measures are very important to bring foreign investment to the country.


Pakistan announces tariff cuts on imports under Azerbaijan trade deal

Pakistan announces tariff cuts on imports under Azerbaijan trade deal
Updated 20 December 2024
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Pakistan announces tariff cuts on imports under Azerbaijan trade deal

Pakistan announces tariff cuts on imports under Azerbaijan trade deal
  • Imports from Azerbaijan exempted from all kinds of customs and regulatory duties from Dec. 16
  • Pakistan and Azerbaijan signed trade agreement in July during President Aliyev’s visit to Islamabad

KARACHI: Pakistan’s Federal Board of Revenue (FBR) has waived off customs and regulatory duties on imports from Azerbaijan under the Pakistan-Azerbaijan Preferential Trade Agreement, the finance ministry said in a notification this month.

During Azerbaijan President Ilham Aliyev’s two-day visit to Pakistan in July, both nations agreed to enhance the volume of bilateral trade to $2 billion, vowing to strengthen ties and increase cooperation in mutually beneficial economic projects. They also signed the Pakistan-Azerbaijan Preferential Trade Agreement to boost economic cooperation through the reduction of tariffs on goods like Pakistani sports equipment, leather, and pharmaceuticals as well as Azerbaijani oil and gas products.

“The federal government is pleased to exempt with effect from Dec. 16, 2024, the import into Pakistan from Azerbaijan of the goods specified,” the finance ministry said in a notification. adding that imports from Azerbaijan would be exempted from all kinds of tariffs including customs duty, additional customs duty and regulatory duty. 

“Provided that where the rates of customs duty, additional customs duty, and regulatory duty [...] are higher than specified rates, the lower rates [...] shall apply,” it added.

The tariff concessions cover items including shelled hazelnuts or filberts, apricots, vegetable saps and extracts, non-stemmed tobacco, polyethylene, propylene copolymers, casing, tubing, drill pipes and refined copper wire with a maximum cross-sectional dimension exceeding 6 mm.

In recent weeks, there has been a flurry of visits, investment talks and economic activity between officials from Pakistan and the Central Asian nations as well as other transcontinental and landlocked countries like Azerbaijan as Islamabad seeks to consolidate the South Asian nation’s role as a pivotal trade and transit hub.