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Pakistan signs agreement with UAE firm for expertise to drive foreign investment

Pakistan signs agreement with UAE firm for expertise to drive foreign investment
In this picture taken on January 11, 2022, a foreign currency dealer counts US dollar notes at a shop in Karachi. (AFP/File)
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Updated 13 July 2024
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Pakistan signs agreement with UAE firm for expertise to drive foreign investment

Pakistan signs agreement with UAE firm for expertise to drive foreign investment
  • Islamabad established the SIFC, a civil-military hybrid forum, in June last year to attract investment
  • The UAE consultancy firm will provide expertise over a period of 18 months focusing on a number of areas
Updated 13 July 2024
Arab News Pakistan
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ISLAMABAD: Pakistan’s Special Investment Facilitation Council (SIFC) has signed an agreement with an Emirati consultancy firm, AT Kearney Middle East Limited, for the promotion of foreign investment in the country’s diverse sectors, Pakistani state media reported on Saturday.
Islamabad established the SIFC, a civil-military hybrid forum, in June last year to attract foreign direct investment in agriculture, mining, information technology, defense production and energy sectors.
A team of AT Kearney and Pakistan’s Public-Private Partnership Authority officials held a detailed meeting with the SIFC national coordinator to discuss the roadmap for collaboration, the Radio Pakistan broadcaster reported.
“The UAE company will provide expertise over a period of eighteen months focusing on a number of key areas to drive foreign investment,” the report read.
“The agreement includes strategies for attracting investment in key sectors and conducting pre-feasibility studies for selected projects.”
The development comes amid a push for foreign investment by Pakistan, which has been facing low foreign exchange reserves, currency devaluation and high inflation.
The South Asian country is making desperate attempts to boost foreign investment and has reached a $7 billion loan deal with the International Monetary Fund (IMF) to support its $350 billion fragile economy.

Topics: AT Kearney Middle East Limited

Four security personnel killed in two separate attacks in northwest Pakistan

Four security personnel killed in two separate attacks in northwest Pakistan
Updated 35 sec ago
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Four security personnel killed in two separate attacks in northwest Pakistan

Four security personnel killed in two separate attacks in northwest Pakistan
  • Khyber Pakhtunkhwa has witnessed attacks on police and security personnel, along with polio vaccination teams
  • The two attacks took place in Karak and North Waziristan districts, close to Pakistan’s border with Afghanistan
Updated 35 sec ago
REHMAT MEHSUD

PESHAWAR: Almost a week after police protested against militant attacks in northwestern Khyber Pakhtunkhwa (KP) province, four security personnel were killed in a targeted attack and a gunbattle with armed factions in the region on Thursday, confirmed police officials.
The first incident occurred in Karak, a southern district of the province, where unidentified assailants on a motorbike gunned down an official of the paramilitary Levies Force, an ill-equipped outfit, earlier in the day.
“Unidentified gunmen shot dead the Levies Force official in the center of the district after he left his home for duty,” Shaukat Khan, a police spokesperson in Karak district, told Arab News over the phone.
He informed that a police contingent arrived at the crime scene to gather evidence and trace the killers.
In another incident, three security personnel lost their lives in an exchange of fire with militants in North Waziristan’s Boya village near the border with Afghanistan.
“We have information of an exchange of fire near Boya in which three security personnel lost their lives,” Murad Khan, an official deployed at the police control room in the area, told Arab News.
KP, which borders Afghanistan, has witnessed numerous attacks on police, security personnel and anti-polio vaccination teams in recent months, along with kidnappings of civil and military officials.
Only a week ago, police in the volatile district of Lakki Marwat called off their days-long protest, condemning a spike in militant attacks and targeted killings of police officials.
Last week, unidentified gunmen opened fire on police guards escorting a polio vaccination team, killing one of them.
The Pakistan Army has a heavy presence across the province, where it has been battling militants from Al Qaeda, the Pakistani Taliban and other groups for nearly two decades.
There have been protests in several districts of KP since July, when Pakistan’s cabinet announced a new military operation amid a surge in terror attacks across the country.
People in KP have rejected plans for an armed operation and demand that civilian agencies like the police and the counter-terrorism department be better equipped.
No group has claimed responsibility for the latest attacks so far, but officials in Islamabad say militants associated with the banned Tehreek-e-Taliban Pakistan (TTP) are primarily responsible for violence against the police and security personnel.
Islamabad has even blamed Kabul’s Afghan Taliban rulers for “facilitating” anti-Pakistan militants, a charge Kabul denies.

Topics: Pakistan Army Karak

ICC team discusses security arrangements with Karachi police ahead of Champions Trophy

ICC team discusses security arrangements with Karachi police ahead of Champions Trophy
Updated 7 min 49 sec ago
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ICC team discusses security arrangements with Karachi police ahead of Champions Trophy

ICC team discusses security arrangements with Karachi police ahead of Champions Trophy
  • ICC delegation is on four-day visit to Pakistan ahead of tournament from Feb.19 to Mar. 9, 2025
  • Pakistan is continuing with final preparations to host their first multi-team event since 2008
Updated 7 min 49 sec ago
NAIMAT KHAN

KARACHI: A delegation from the International Cricket Council (ICC) on Thursday visited a special unit of the Sindh police in Karachi to discuss security arrangements for the 2025 ICC Champions Trophy, which will be hosted by Pakistan from February 19 to March 9 next year.
In addition to Karachi where it reviewed security arrangements at the National Stadium on Wednesday, the ICC team, which is on a four-day visit to Pakistan, will visit key cricket venues in Islamabad, Rawalpindi, and Lahore to ensure they are in top condition to host the tournament next year. The delegation’s visit follows a previous inspection conducted by a three-member ICC team in April of this year.
On Thursday, the ICC delegation headed by Security Head of ICC Recce Team, David Masker, visited the Special Security Unit (SSU) Headquarters in Karachi.
“The visit aimed to strengthen collaboration between law enforcement agencies and the ICC to ensure a safe and secure environment for players, officials, and fans during the prestigious event,” the SSU said in a statement. 
Commandant SSU Anwar Khetran briefed the ICC on security arrangements to be implemented during matches scheduled at the National Bank Stadium in Karachi. 
“He emphasized the importance of a coordinated approach to security, which includes crowd management, emergency response plans, and collaboration with various stakeholders,” the statement added. 
DIG Security & Emergency Services Division Dr. Maqsood Ahmed also met with delegation and “encouraged all stakeholders to maintain high performance standards and to communicate any resource needs to management promptly, ensuring that all necessary support is in place for a successful tournament.”
The ICC delegation, according to the statement, reaffirmed the Council’s commitment to working closely with local authorities to enhance security measures for the event.
The ICC delegation is scheduled to depart for Dubai on September 21 as Pakistan continues final preparations to host their first multi-team event since 2008.
Last week, ICC Chief Executive Geoff Allardice confirmed there were currently no plans to relocate the ICC Champions Trophy 2025 from Pakistan.

Topics: ICC in Pakistan Champions Trophy 2025

‘Particularly worried’ about penetration of militants from Afghanistan into Pakistan — UN chief 

‘Particularly worried’ about penetration of militants from Afghanistan into Pakistan — UN chief 
Updated 36 min 11 sec ago
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‘Particularly worried’ about penetration of militants from Afghanistan into Pakistan — UN chief 

‘Particularly worried’ about penetration of militants from Afghanistan into Pakistan — UN chief 
  • Pakistan has seen rise in attacks in recent weeks which it blames on militants operating from Afghanistan
  • Afghan Taliban say they do not allow Afghanistan’s territory to be used by militants against other nations 
Updated 36 min 11 sec ago
Arab News Pakistan

ISLAMABAD: UN Secretary-General António Guterres said on Wednesday the international body was “particularly worried” about the penetration of militants from Afghanistan into Pakistan, calling on Kabul not to allow its soil to be used by terror groups.
Pakistan has seen a rise in militant attacks in recent weeks, with many of them taking place in the northwestern Khyber Pakhtunkhwa province bordering Afghanistan where Islamabad says groups like the outlawed Pakistani Taliban, or TTP, are hiding and from where they daily target security forces convoys and check posts, and carry out targeted killings and kidnappings of law enforcers and government officials. 
Militants, particularly from separatist groups, have also repeatedly struck in the southwestern Balochistan province, which borders Afghanistan and Iran.
“We are particularly worried… when we look into the neighboring countries, we are particularly worried with the fact that there is a penetration of terrorists from Afghanistan into Pakistan and that that is creating, of course, many innocent victims and being a threat to Pakistani security,” Guterres told reporters in response to a question about what the UN planned to do about militants using safe havens in Afghanistan to launch attacks in Pakistan. 
“So, one of the things that is absolutely essential is that Afghanistan controls its territory and doesn’t allow terrorist groups from any other country to operate from Afghanistan.”
Islamabad says militants mainly associated with the banned Tehreek-e-Taliban Pakistan (TTP) frequently launch attacks from Afghanistan and has even blamed Kabul’s Afghan Taliban rulers of facilitating anti-Pakistan militants. Kabul denies the charges.
Over 80 policemen have been killed in ambushes and target killings in Khyber Pakhtunkhwa in 2024, according to police figures.

Topics: Pakistan Afghanistan

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Shan Foods, Pakistan’s top spice mix maker, eyes Middle East expansion

Shan Foods, Pakistan’s top spice mix maker, eyes Middle East expansion
Updated 55 min 16 sec ago
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Shan Foods, Pakistan’s top spice mix maker, eyes Middle East expansion

Shan Foods, Pakistan’s top spice mix maker, eyes Middle East expansion
  • Co-chairperson of one of Pakistan’s largest producers of packaged spices speaks to Arab News in exclusive interview
  • Says Middle East “key focus area” for company, claims business in the region has grown exponentially in 20 years
Updated 55 min 16 sec ago
NAIMAT KHAN

KARACHI: Shan Foods (Private) Limited, one of Pakistan’s largest producers of packaged spice mixes, says Saudi Arabia and the Middle East are a “key focus area” for expansion, a top official at the company said this week, adding that it had already captured 65 percent of the market in the United Arab Emirates.
Shan Foods has a presence in more than 75 countries currently. It was founded in 1981 by Sikander Sultan who along with his wife started making spice mixes at home. The spices became popular and formed a loyal fan-base both at home and with Pakistanis who had moved to Arab countries, Europe, US and Canada.
“So, it [Middle East] is one of our key focus areas, it’s a key focus market for us because there is a huge South Asian population that lives in Saudi Arabia and then the Arab consumers are also familiar with our food and the kind of food that we eat,” Sammer Sultan, the co-chairperson of Shan Foods, said in an interview to Arab News. 
“They’re very exposed to it. So, it’s definitely one of the core areas of focus for us, and we want to grow our business there. UAE specifically is one of our biggest regions already in terms of our sales values.”
When asked about the size of Shan Foods in the Middle Eastern market, she replied:
“It would be difficult for me to give you a number like that, but we’ve had exponential growth. If I were to compare from 20 years ago, it’s probably 100x by now. So, what we were selling maybe 20 years ago, we’re selling 100 times that now. So it’s been phenomenal.”
PARTNERSHIP WITH SYMRISE
Shan Foods last year partnered with Symrise AG, a German manufacturer of food flavorings, to establish Symrise’s first-ever production facility in Pakistan, aiming to localize Shan’s supply chain and strengthen its position within the local and global food industries. 
Since 2005, Symrise has seen double-digit growth year on year with its partners across the Middle East and Pakistan region.
Sultan said the joint venture would not only facilitate Shan Foods and Symrise but also benefit businesses and consumers within the larger framework.
“The whole objective of import substitution is that you are trying to bring in something that is locally available instead of trying to import it to the country,” she said, pointing out that many of Shan Foods’ raw materials were currently sourced from abroad.
“We are not fully local in the sense that a lot of our inputs are coming in from abroad and that’s the process that we are working collaboratively with Symrise to figure out, how do we localize all our supply to Pakistan,” Sultan added. 
“That is something that ties in with Shaan’s sustainability goals as well because we also want to localize the top 10 raw materials that we’re using in our spices because, you see, logistics, wars, there’s so many factors that come into play when the global supply chain gets affected.”
Also, with rising inflation and cost pressures on businesses, localizing key raw materials decreased prices and benefited consumers, Sultan said.
“They get to pay a lower price,” she explained, “or at least every year the price doesn’t go up as much because we are localizing the raw materials and input.”

Topics: Shan Foods

Pakistan condemns Israel’s use of communications devices to commit ‘terrorism’ in Lebanon

Pakistan condemns Israel’s use of communications devices to commit ‘terrorism’ in Lebanon
Updated 19 September 2024
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Pakistan condemns Israel’s use of communications devices to commit ‘terrorism’ in Lebanon

Pakistan condemns Israel’s use of communications devices to commit ‘terrorism’ in Lebanon
  • On Wednesday, hand-held radios used by Hezbollah detonated across Lebanon’s south, with 20 people killed
  • Wednesday’s blasts came a day after pagers used by Hezbollah members exploded simultaneously, killing 12
Updated 19 September 2024
SAIMA SHABBIR

ISLAMABAD: Pakistan on Thursday “strongly” condemned and called “reprehensible” the use of electronic devices by Israel to attack Lebanon amid spiraling tensions following mass assaults on Hezbollah communications devices this week.
On Wednesday, hand-held radios used by Hezbollah detonated across Lebanon’s south, with 20 killed, according to Lebanon’s health ministry. Wednesday’s blasts came just a day after pagers exploded simultaneously, killing least 12 and leaving nearly 3,000 others injured on Tuesday. 
Hezbollah has vowed to retaliate against Israel, which has declined to comment on the explosions, believed to have been carried out by its spy agency Mossad.
“Pakistan strongly condemns this week’s attacks in Lebanon carried through detonation of electronic equipments,” Foreign Office Spokeswoman Mumtaz Zahra Baloch told reporters.
“Use of cyber and electronic means to commit terrorism in foreign countries is reprehensible.”
She said the attacks showed “Israel’s alarming adventurism in the region,” which was endangering regional peace and security.
“Pakistan reaffirms its support for Lebanon’s sovereignty and territorial integrity and calls upon the international community to take urgent steps to hold Israel to account on its act of international terrorism and violations of international law,” Baloch added.
This week’s operations, which have appeared to throw Hezbollah into disarray, played out alongside Israel’s 11-month-old war in Gaza and heightened fears of an escalation on its Lebanese border and the risk of a full-blown regional war. 
“We are opening a new phase in the war. It requires courage, determination and perseverance from us,” Israeli Defense Minister Yoav Gallant said in remarks at an air force base.
The US, which has denied any involvement in the blasts, says it is pursuing intensive diplomacy to avert an escalation of the conflict. 
The United Nations Security Council will meet on Friday about the pager blasts after a request by Arab states.

Topics: pager explosions lebanon blasts Israeli war on Gaza

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