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ADB, Pakistan sign $250 million loan agreement for investment in infrastructure, services

ADB, Pakistan sign $250 million loan agreement for investment in infrastructure, services
In this handout photograph, taken and released by Asian Development Bank on June 21, 2024, ADB Country Director Yong Ye (right) and Pakistan’s Secretary Economic Affairs Division Kazim Niaz (left) sign the agreement for $250 million policy-based loan in Islamabad. (Photo courtesy: Facebook/ADB Pakistan)
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Updated 21 June 2024
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ADB, Pakistan sign $250 million loan agreement for investment in infrastructure, services

ADB, Pakistan sign $250 million loan agreement for investment in infrastructure, services
  • Loan to help drive investments in infrastructure, services through public-private partnerships
  • ADB has committed over $52 billion in public and private sector loans and grants since 1966
Updated 21 June 2024
KHURSHID AHMED   
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KARACHI: The Asian Development Bank (ADB) and Pakistan on Friday signed an agreement for a $250 million loan that would help drive sustainable investments in the country’s infrastructure and services sectors, the Pakistan chapter of the bank confirmed.
The ADB announced on June 5 that it had approved a $250 million policy-based loan to help drive investments in Pakistan’s infrastructure and services sector through public-private partnerships (PPPs).
“ADB Country Director for Pakistan Yong Ye and Secretary Economic Affairs Division of Pakistan Kazim Niaz today signed the agreement for $250 million policy-based loan,” ADB Pakistan wrote on social media platform X.
In its earlier press statement on June 5, ADB said its PPP program supports the implementation of government policies to create a fiscally affordable environment for public-private partnerships, apart from promoting economic growth. 
“The reforms will facilitate efficient infrastructure planning and promote sustainable development practices in infrastructure projects, such as climate risk screening and gender considerations in project feasibility assessments and PPP contracts,” ADB Director-General for Central and West Asia Yevgeniy Zhukov had said.
The regional development bank has committed over $52 billion to Pakistan, one of its founding members, since 1966 in public and private sector loans, grants, and other forms of financing to promote inclusive economic growth in the country.
In December 2023, the ADB approved three projects totaling $658.8 million to improve Pakistan’s domestic resource mobilization, rehabilitate schools damaged by the devastating August 2022 floods, and enhance agricultural productivity to improve food security.

Topics: Asian Development Bank (ADB)

Details in trial for murder of British-Pakistani girl shock UK

Details in trial for murder of British-Pakistani girl shock UK
Updated 01 November 2024
AFP
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Details in trial for murder of British-Pakistani girl shock UK

Details in trial for murder of British-Pakistani girl shock UK
  • Sara Sharif, 10, was found dead in bed with fractured bones, bites and burn marks
  • Her father, step-mother and uncle have been put on trial for murder since mid-October
Updated 01 November 2024
AFP

LONDON: The trial of three family members accused of murdering a 10-year-old British-Pakistani girl has shocked the UK, as details of the horrific abuse she endured have emerged in court.
Sara Sharif was found dead in bed — with fractured bones, bites and burn marks throughout her body — at her family’s home in Woking, southern England, in August 2023.
The discovery sparked an international manhunt for the relatives accused of the killing, after they had fled to Pakistan the previous day along with five of Sara’s siblings.
Her father, 42-year-old taxi driver Urfan Sharif, step-mother Beinash Batool, 30, and uncle Faisal Malik, 29, returned to Britain the following month and have been on trial since mid-October. They deny the charges.
London’s Old Bailey court has heard how Sara had 25 fractures, including the hyoid bone in the neck.
Pathologist and bone specialist Anthony Freemont told the jury he had concluded that was the result of “neck compression” most commonly caused by “manual strangulation.”
The youngster had dozens of bruises, including bite marks, while her DNA as well as that of her father and uncle were detected on a cricket bat and both ends of a belt.
Sara’s blood was found inside a carrier bag believed to have been put over her head, while blood and hairs were detected on a piece of brown tape.
Jurors heard Friday that Batool was the only defendant who had refused to provide dental impressions of her teeth.
The court had previously learned of WhatsApp messages she had sent her sister over several years in which she reported that Sharif had hit Sara for being “rude and rebellious.”

This combination of pictures created on September 13, 2023 shows undated handout photos released by Surrey Police in London on September 6, 2023, of Urfan Sharif (L), Beinash Batool, and Faisal Malik. Urfan Sharif, the British-Pakistani father of 10-year-old Sara Sharif, who was found dead at her home in England last month. (Photo courtesy: SURREY POLICE via AFP)

“She’s covered in bruises, literally beaten black,” one message stated.
“She’s got a jinn in her,” Batool had added, referring to genie-like supernatural beings from mythology.
Prosecutor William Emlyn Jones revealed Friday that four months before her death, Sharif had told Sara’s school that she would be homeschooled “with immediate effect.”
Around the same time the family relocated the short distance from the town of West Byfleet to Woking.
By then, teachers had noted bruising on her body, in June 2022 and March 2023.
Asked about the injuries, Sara had not wanted to answer and hid her head in her arms, the court has heard.
Giving evidence earlier in the trial, teacher Helen Simmons described her as a “happy child,” who at times would be “sassy.”
Simmons recounted how she twice saw bruises on her face, and when the girl had not given a consistent account of her injuries the school had made a referral to watchdog services.
That had prompted Batool to confront her at the school two weeks later and claim the marks had been made by a pen, jurors have heard.
Meanwhile neighbors regularly heard shouting, commotions and crying.
Rebecca Spencer, who lived below the family, said she would hear Batool “screaming.”
“I would hear the stepmother shout at Sara,” she testified.
Spencer also said she heard noises that sounded like someone “locked in a bedroom,” with “the constant rattling of the door” as they were “trying to get it open.”
Sitting in court behind plexiglass, the three defendants listened Friday morning with their heads bowed.
Sharif — a short, thin man with hard features — looked up to watch clips of their arrests at Gatwick Airport in September 2023 being shown to jurors.
In the footage from arresting officers’ body-cameras, Batool raised her hand and said: “I think you are looking for us.”
The day after fleeing Britain a month earlier, Sharif had called UK police from Pakistan to explain that he had “legally punish(ed) my daughter and she died.”
“I beat her, I didn’t want to kill her but I beat her too much,” he added, claiming she had been “naughty.”
Police found Sara’s body on a bunk bed covered with a sheet, alongside a note in which her father claimed he had not intended to kill her but wrote: “I lost it.”
The trial continues next week.

Topics: Sara Sharif Sara Sharif murder British Pakistani

Pakistan announces drafting of transshipment policy to boost role in global trade

Pakistan announces drafting of transshipment policy to boost role in global trade
Updated 01 November 2024
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Pakistan announces drafting of transshipment policy to boost role in global trade

Pakistan announces drafting of transshipment policy to boost role in global trade
  • International companies have shown interest in Pakistan’s maritime and transshipment potential
  • Abu Dhabi Ports has signed a deal to operate a Karachi container terminal, will invest $220 million
Updated 01 November 2024
Arab News Pakistan

ISLAMABAD: Pakistan is formulating a transshipment policy aimed at enhancing its role in regional and international trade, state media reported on Friday, as the country seeks to gain financial strength by embedding itself more firmly within the global economic system.
International transshipment nodes enable the transfer of cargo from one vessel to another, facilitating regional and international trade by efficiently directing its flow. The process can be lucrative for Pakistan, whose maritime minister announced the government’s decision to draft the policy during parliamentary proceedings.
Last year in June, Abu Dhabi Ports Group signed a 50-year concession agreement with Karachi Port Trust to operate a container terminal, committing to invest $220 million over the first decade.
Subsequently, APM Terminals, a subsidiary of Maersk, expressed interest in developing Pakistan’s first green transshipment terminal in Karachi earlier this year in May, reflecting growing international confidence in Pakistan’s maritime potential.
“Minister for Maritime Affairs Qaiser Ahmad Shaikh told the House during the Question Hour that this policy will provide clear guidelines and incentives for transshipment activities,” according to Radio Pakistan.
“He said it will also streamline transshipment operations at Pakistani ports, resulting in economic growth and job opportunities,” the report added.
Prime Minister Shehbaz Sharif has also actively promoted Pakistan’s ports to Central Asian nations, positioning them as conduits to global markets.
During his visit to Tajikistan in July, he emphasized his government’s commitment to enhancing regional connectivity and integration, highlighting the strategic importance of Pakistan’s ports for the region’s landlocked economies.
The maritime minister said a comprehensive transshipment policy was expected to further solidify Pakistan’s position as a pivotal trade and transit hub in South Asia.

Topics: Karachi port

Pakistan Football Federation announces contract completion with coach Stephen Constantine

Pakistan Football Federation announces contract completion with coach Stephen Constantine
Updated 01 November 2024
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Pakistan Football Federation announces contract completion with coach Stephen Constantine

Pakistan Football Federation announces contract completion with coach Stephen Constantine
  • Constantine led Pakistan to its first-ever victory in the first round of the FIFA World Cup 2026 qualifiers
  • The seasoned football coach’s achievements include leading India to its highest FIFA ranking in 2017
Updated 01 November 2024
Arab News Pakistan

ISLAMABAD: The Pakistan Football Federation (PFF) on Friday announced the completion of its contract with Stephen Constantine, a seasoned football coach with extensive international experience and head coach of the Pakistan Men’s Football Team.
Appointed by the PFF Normalization Committee as head coach in September last year, Constantine led Pakistan to a historic milestone with its first-ever victory in the first round of the FIFA World Cup 2026 qualifiers, securing a 1-0 win over Cambodia at Islamabad’s Jinnah Stadium.
“I want to express my heartfelt gratitude to the PFF for entrusting me with the incredible opportunity to lead the Pakistan national team through some of its most historic achievements,” Constantine said.
“The unforgettable scenes at Jinnah Sports Stadium on October 17, 2023, when our 1-0 victory over Cambodia secured Pakistan’s first-ever qualification for the FIFA World Cup Qualifiers, will forever be etched in memory.”
The veteran football coach also paid tribute to his staff, calling them “phenomenal.” He noted that few would ever understand the level of commitment and sacrifice they poured into the journey, commending their dedication.
“To the players, you achieved something unparalleled for Pakistan football, and you did it with heart and style,” he added. “You made history, and you reignited hope for 250 million people who believe in Pakistan football once more.”
Constantine has managed national teams across multiple continents, including Nepal, India, Malawi, Sudan, and Rwanda. His notable achievements include leading India to its highest FIFA ranking in 2017. Although he may not be widely recognized in mainstream football circles, his contributions to developing football in emerging nations have earned him respect within the global coaching community.
Haroon Malik, chairman of the PFF Normalization Committee, said the Pakistani football community would forever remember the World Cup qualifier match victory achieved after the players were trained by Constantine. Malik remarked that the international coach’s invaluable contributions to Pakistani football had left an indelible mark in history.

Topics: Pakistan Football Federation (PFF) Stephen Constantine

One dead, several injured as political chants start clash at Pakistan cricket match

One dead, several injured as political chants start clash at Pakistan cricket match
Updated 01 November 2024
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One dead, several injured as political chants start clash at Pakistan cricket match

One dead, several injured as political chants start clash at Pakistan cricket match
  • Incident led to chaotic scenes of fighting on the field, as fans used bats, pipes to attack each other
  • Police say two of its senior officials were also injured during the brawl and given first aid on site
Updated 01 November 2024
WASIM SAJJAD

PESHAWAR: At least one person died and several others, including two police officers, were injured in a violent clash during a cricket league final in Pakistan’s northwestern Bajaur tribal district amid high political tension on Friday, police confirmed to Arab News.
The brawl erupted when spectators at the Bajaur Cricket League (BCL) began chanting rival slogans in a packed stadium of over 20,000 people.
The incident occurred as Team 804, named after the prisoner identification number assigned to former Prime Minister Imran Khan following his arrest in August last year, faced off against Salarzai Zalmi in Khar.
Both teams were backed by local politicians from opposing camps, sparking an outcry from fans when, according to local media reports, a player from Team 804 was declared out by the umpire.
“Over 20,000 spectators were present in the ground who chanted political slogans against each other, which triggered the clash,” Bajaur Police Spokesperson Muhammad Israr told Arab News over the phone. “One person died of a heart attack during the incident, and while many sustained minor injuries, only a few required hospital treatment.”
Local news channels broadcast footage showing chaotic scenes of fighting on the field, with some people injured in the scuffle. As the violence intensified, fans used cricket bats and pipes to attack each other.
Local media reported the man who died had also sustained injuries and could not survive.
The police official said his department was gathering evidence and would lodge a report of the incident afterward.
“Two deputy superintendents of police were slightly injured and given first aid on site,” he added.
Cricket is a national passion in Pakistan, often fueling strong emotions among fans while their teams compete.
The incident in Bajaur, a restive region that has seen militant violence in the past, reflected how easily sports and politics can blend in the country to create a combustible mix.

Topics: Bajaur

Pakistan’s national airline sale stalls as bid falls short of government expectations

Pakistan’s national airline sale stalls as bid falls short of government expectations
Updated 01 November 2024
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Pakistan’s national airline sale stalls as bid falls short of government expectations

Pakistan’s national airline sale stalls as bid falls short of government expectations
  • Sole bidder Blue World City declines to meet government’s minimum price of $305 million
  • PIA employees’ union labels the stalled sale an ‘embarrassment’ for Pakistani authorities
Updated 01 November 2024
Aamir Saeed

ISLAMABAD: Pakistan’s Privatization Ministry said on Friday the national airline’s privatization has stalled after months of efforts, as the sole bid came in “too low” compared to government expectations, which the airline employees’ union and an economist called a “major embarrassment” for the authorities.
The national flag carrier received a Rs10 billion ($36 million) bid from real estate development company Blue World City a day earlier for 60 percent Pakistan International Airlines (PIA) stakes during a televised auction, far below the minimum price of Rs85 billion ($305 million) set by the government.
The country plans to sell more than 51 percent of its stake in the loss-making national air carrier as part of economic reforms Islamabad agreed to with the International Monetary Fund (IMF) for a critical 37-month, $7 billion bailout deal approved in September.
Pakistan’s government pre-qualified six groups in June, but only the real estate development company met a Tuesday deadline to submit final documents to participate in the auction.
“The airline’s sale process has stalled for now, but the Privatization Commission Board will review the bid offer in its next meeting,” Dr. Ahsan Ishaq, a spokesperson for the Privatization Ministry, told Arab News, without specifying a date for the meeting.
“Finally, the matter will go to the federal cabinet for approval, but obviously, the bid is too low compared to government expectations,” he added. “Therefore, it may not receive formal assent.”
The state-owned Pakistan Television broadcast the bidding process live, with Blue World City as the sole bidder.
The $36 million bid was read out in front of government officials and financial advisers, which the PIA employees’ union later described as a “major embarrassment” for the authorities.
“The government should add at least twenty planes to the PIA fleet on dry lease to make it a profitable airline instead of selling it for peanuts,” said Hidayatullah, president of the PIA employees’ union, who goes by a single name, while speaking to Arab News.
“We will not allow the privatization of this national asset, and we will launch a nationwide protest if the government goes ahead with this bid,” he said.
During the bidding event, Blue World City Chairman Saad Nazir refused to match the government’s minimum price of Rs85 billion, saying, as per his company’s assessment, the offer made was “the best decision.”
The government’s initial plan was to finalize the PIA sale on the country’s Independence Day, August 14, but the plan was delayed following requests from bidders who were awaiting the airline’s latest audited accounts, aircraft lease agreements and clarity on flights to Europe, which are currently banned.
The auction was postponed twice, first to September and then to October, but neither event materialized.
Dr. Vaqar Ahmed, a senior economist, said the government had failed to “hunt potential investors” for PIA ahead of the formal auction and did not organize roadshows to market the airline’s assets to attract major investors.
“Major foreign investors have already expressed serious reservations about difficulties in repatriating their profits from investments in various sectors,” he told Arab News. “Therefore, they were apprehensive about joining the bidding process.”
“The government should have initiated measures to address the concerns of major investors and businesses ahead of formally launching the auction process for PIA to attract a fair price for the airline,” he continued.
Official data available to Arab News shows that there are 88 commercially operated state-owned enterprises in Pakistan, with collective losses amounting to Rs730.258 billion ($2.61 billion) in the fiscal year 2022.
In its five-year privatization plan ending in 2029, the government approved 24 state-owned enterprises for sale, including PIA.
With a fleet of 34 aircraft comprising 17 Airbus A320s, 12 Boeing B777s, and 5 ATRs, PIA loses market share to Middle Eastern carriers, who dominate with 60 percent due to the absence of direct flights to key destinations.
The carrier has air service pacts with 87 countries and landing slots at significant destinations such as London Heathrow.
The reorganization plan will separate aviation-related operations from non-core components, thereby freeing the operating subsidiary from a large portion of legacy debt.

Topics: Pakistan International Airlines (PIA) PIA privatization

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