Pakistan forms Special Parliamentary Committee to nominate new chief justice

Update Pakistan forms Special Parliamentary Committee to nominate new chief justice
Pakistan’s National Assembly Speaker chairs a session in Islamabad, Pakistan, on October 21, 2024. (@NAofPakistan/X)
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Updated 22 October 2024
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Pakistan forms Special Parliamentary Committee to nominate new chief justice

Pakistan forms Special Parliamentary Committee to nominate new chief justice
  • Twelve-member committee includes eight members from treasury benches, four from the opposition
  • Development takes place with Pakistan’s incumbent Chief Justice Qazi Faez Isa set to retire on Friday, Oct. 25

ISLAMABAD: Pakistan’s National Assembly Speaker late Monday notified a 12-member Special Parliamentary Committee that will nominate the new chief justice, a notification from the National Assembly Secretariat stated, days before the incumbent top judge Justice Qazi Faez Isa is set to retire. 

The development takes place a day after the government passed a set of contentious constitutional amendments that have generated heated debate in the country, with opposition parties and prominent lawyers alleging the new law aims to curtail the judiciary’s independence. The government rejects these allegations, saying that the amendments are aimed at empowering Pakistan’s parliament and providing speedy justice to the country’s citizens. 

The most prominent amendment made by the ruling coalition government is the one that empowers the parliament to establish a 12-member parliamentary committee to nominate the country’s chief justice from a panel of the three most senior judges of the Supreme Court. Pakistan’s incumbent top judge, Justice Isa, is set to retire on Friday. 

“In terms of clause (3B) of Article 175A of the Constitution of the Islamic Republic of Pakistan, the Honourable Speaker National Assembly has been pleased to notify the Special Parliamentary Committee consisting of the following members as per nominations by the respective Parliamentary Leaders based on their strength in the Majlis-e-Shoora (Parliament) for the nomination of the Chief Justice of Pakistan under clause (3) of Article 175A of the Constitution,” a notification by the NA Secretariat read. 

The parliamentary committee comprises eight lawmakers from the National Assembly and four from the upper house of parliament, the Senate. Of these 12 members, eight are from the treasury benches while four are from the opposition. 

The committee includes the names of Defense Minister Khawaja Asif, Law Minister Azam Nazeer Tarar, Planning Minister Ahsan Iqbal, ruling party lawmaker Shaista Pervaiz, Pakistan Peoples Party lawmakers Raja Pervaiz Ashraf, Syed Naveed Qamar and Senator Farooq H Naek, and Muttahida Quami Movement-Pakistan’s (MQM-P) Rana Ansar. 

From the opposition benches, Pakistan Tehreek-e-Insaf (PTI) members Gohar Ali Khan and Senator Ali Zafar were notified to the committee. Sunni Ittehad Council (SIC) Chairman Sahibzada Hamid Raza and Jamiat Ulama-e-Pakistan Fazl’s Senator Kamran Murtaza were the other opposition lawmakers named to the committee. 

However, the PTI said it would not partake in the committee’s meeting on Tuesday in which it is expected to kick off the nomination process for the new chief justice. 

“[Party’s] political committee decided not to participate,” the PTI said in a message to reporters. 

TENSIONS WITH THE TOP COURT

Khan’s PTI has accused Justice Isa of being aligned with the government and says the amendment was passed to grant him an extension in office. The government has rejected these allegations. 

Under the previous law, Justice Isa would have been automatically replaced by the most senior judge behind him, currently Justice Mansoor Ali Shah, who has consistently issued verdicts deemed favorable to Khan and the PTI. 

Sharif’s government has passed the bill, which it says ensures the parliament will not remain a rubber stamp one, in the wake of its tensions with the judiciary that have been on the rise since the February national election. 

In July, Pakistan’s top court ruled that the country’s election commission was wrong to have sidelined Khan’s party in the election campaign by forcing its lawmakers to stand as independents due to a technical violation. It also awarded Khan’s party a handful of non-elected reserved parliamentary seats for women and religious minorities, which would give Khan’s party a majority in parliament, angering the government. 

Khan, who was ousted from office after a parliamentary vote in April 2022, remains popular among the masses. He has since waged an unprecedented campaign of defiance against the country’s powerful military, which is thought to be aligned with the government. Khan has been languishing in prison since August 2023 after being convicted on several charges ranging from corruption to treason that he says are politically motivated. 


Saudi EXIM Bank signs $15m deal with Pakistan’s Bank Alfalah to boost trade

Saudi EXIM Bank signs $15m deal with Pakistan’s Bank Alfalah to boost trade
Updated 21 January 2025
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Saudi EXIM Bank signs $15m deal with Pakistan’s Bank Alfalah to boost trade

Saudi EXIM Bank signs $15m deal with Pakistan’s Bank Alfalah to boost trade
  • Agreement designed to enhance Kingdom’s exporters access to Pakistani markets
  • In October, businesses from both countries signed agreements worth $2.8 billion

RIYADH: The Saudi Export-Import Bank and Pakistan’s Bank Alfalah have inked a $15 million financing agreement, designed to enhance Kingdom’s exporters access to Pakistani markets and foster stronger trade and economic ties.

The new credit line deal seeks to increase the flow and competitiveness of the Kingdom’s non-oil exports as well as unveil new trade horizons between the two countries, the Saudi Press Agency reported.

This falls in line with Pakistan’s efforts to strengthen trade and investment ties with the Kingdom, with the Saudi government reaffirming its commitment in September to fast-track a $5 billion investment package for the Asian country.

This also aligns with Saudi EXIM’s goal of diversifying the Kingdom’s economy by offering financing and insurance products for non-oil exports in support of Vision 2030.

“The agreement comes within the bank’s efforts to strengthen strategic relations with international banks and financial institutions to provide financing solutions that contribute to the development of Saudi non-oil exports and enhance their competitiveness in Pakistani markets, by encouraging importers from Pakistan to import Saudi products and services, which opens up broad prospects for the development of trade and investment between the two countries, and creates more promising trade and investment opportunities,” said General Director of the Finance Department at Saudi EXIM Bank Abdul Latif bin Saud Al-Ghaith.

The Group Head of Corporate, Investment Banking, and International Business at Bank Alfalah, Farooq Ahmed Khan, said: “The agreement between Saudi EXIM Bank and Bank Alfalah Ltd. is a milestone in strengthening trade relations between the Kingdom and Pakistan.”

He added: “The financing line will enable Pakistani companies to access high-quality products in the Kingdom and will also enhance the volume of trade exchange between the two countries. 

“We at Bank Alfalah are proud to play a pivotal role in promoting trade and investment opportunities that are in line with the shared vision to strengthen and grow the economies of both countries.”

In October, Saudi businessmen expressed hope for successful collaborations in Pakistan, saying the country’s economic stability and improved regulatory framework had made it an attractive investment destination, following the signing of over two dozen deals between companies from both nations.


Pakistan condoles loss of lives as Turkiye ski resort fire kills 66

Pakistan condoles loss of lives as Turkiye ski resort fire kills 66
Updated 21 January 2025
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Pakistan condoles loss of lives as Turkiye ski resort fire kills 66

Pakistan condoles loss of lives as Turkiye ski resort fire kills 66
  • Fire erupted overnight in hotel of Turkiye’s Kartalkaya ski resort
  • Pakistan stands shoulder-to-shoulder with Turkiye, says foreign office

ISLAMABAD: Pakistan’s foreign office on Tuesday condoled over the loss of lives caused by a deadly fire at a ski resort in Turkiye that killed at least 66 people and wounded over 50 others. 

The blaze erupted overnight in the restaurant of the hotel in the famous Kartalkaya ski resort in Bolu province on Monday. 

Television footage showed the roof and upper floors of the building engulfed in flames as witnesses and reports indicated that the hotel’s fire detection system had failed to activate. 

As per reports, 234 guests were staying at the hotel when it caught fire.

“The government and people of Pakistan are deeply saddened by the devastating fire at a hotel in the Kartalkaya ski resort in Bolu, Türkiye this morning,” the foreign office said.

“Pakistan extends its heartfelt condolences to the Government and people of Türkiye, particularly to the families who have lost their loved ones.”

The foreign office said Pakistan stands shoulder-to-shoulder with Turkiye, reaffirming its solidarity with the nation. 

According to the state-owned Anadolu Agency, Turkish Justice Minister Yılmaz Tunç said four people, including the business owner, were detained over the fire incident.

He said six public prosecutors were assigned to the probe, adding that a team of experts were looking into the cause of the fire.

Kartalkaya, which lies about 295 kilometers east of Istanbul, is one of Turkiye’s premier winter tourism destinations that attracts thousands of visitors every winter.


Pakistan contacting UAE to extradite real estate tycoon accused of graft— state media

Pakistan contacting UAE to extradite real estate tycoon accused of graft— state media
Updated 21 January 2025
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Pakistan contacting UAE to extradite real estate tycoon accused of graft— state media

Pakistan contacting UAE to extradite real estate tycoon accused of graft— state media
  • State media alleges Malik Riaz Hussain has illegally occupied lands owned by state, private persons
  • Hussain, who is co-accused in land graft case involving former PM Imran Khan, denies wrongdoing

ISLAMABAD: Pakistan’s government is reaching out to the United Arab Emirates (UAE) to extradite real estate tycoon Malik Riaz Hussain, the co-accused and proclaimed offender in a land graft case involving former prime minister Imran Khan, on charges of building housing societies on lands he does not legally own, state-run media reported on Tuesday. 

Hussain, currently residing in the UAE, is one of Pakistan’s richest and most powerful businessmen and biggest private employers. He is known for being the chairman of Bahria Town Limited, which calls itself Asia’s largest private estate developer.

The development takes place after a Pakistani court last Friday sentenced Khan to 14 years in prison and his wife, Bushra Khan, to seven years in jail. Both were accused of receiving land as a gift from Hussain during Khan’s premiership from 2018 to 2022 in exchange for illegal favors. 

Khan says he and his wife were merely trustees and did not benefit from the land transaction. Hussain has also denied being involved in any wrongdoing related to the case. 

“The Government of Pakistan is reaching out to the Government of United Arab Emirates for the extradition of Malik Riaz through legal channels,” state broadcaster Radio Pakistan reported. 

Radio Pakistan said Pakistan’s anti-corruption watchdog is conducting an inquiry against Hussain and his accomplices for fraud, deceptive practices and cheating the public at large.

It said the National Accountability Bureau (NAB) has credible information that Hussain and his accomplices not only illegally possessed and occupied state-owned land but also land belonging to private persons in Karachi, Takht Parri, Rawalpindi and New Murree areas. 

The state broadcaster said Hussain is developing housing societies on these lands 
without obtaining regulatory permissions, accusing him of committing fraud against the state and public amounting to billions of rupees. 

It mentioned that Riaz has recently launched a project to construct luxury apartments in Dubai, warning the public against investing in it. 

“The general public at large is hereby advised and warned to refrain from investing in the stated project,” it said.

“If the general public at large invests in the stated project, their actions would tantamount to money laundering, for which they may face criminal and legal proceedings.”

Hussain has not responded to the latest allegations against him. However, in May 2024, the real estate tycoon took to social media platform X to condemn a raid by NAB at his company’s offices in Pakistan. 

Hussain vowed not to give in to “bullying.” The post, however, was a cryptic one as the real estate developer did not state specifically who was pressurizing him.


Pakistan says it has agreed $1 billion loan with two Middle Eastern banks

Pakistan says it has agreed $1 billion loan with two Middle Eastern banks
Updated 21 January 2025
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Pakistan says it has agreed $1 billion loan with two Middle Eastern banks

Pakistan says it has agreed $1 billion loan with two Middle Eastern banks
  • Loans are short-term with 6 to 7 percent interest rate, says Muhammad Aurangzeb
  • Pakistan aims to boost finances after securing $7 billion IMF bailout in September

DAVOS, Switzerland: Pakistan has agreed terms for a $1 billion loan with two Middle Eastern banks at a 6%-7% interest rate, its Finance Minister Muhammad Aurangzeb told Reuters on Tuesday, as the South Asian country looks for more financing.

“With two institutions we have now gone forward in signing up the term sheet — one bilateral and one for trade (finance),” Aurangzeb said during an interview on the sidelines of the World Economic Forum annual meeting in Davos.

The loans were short-term — or up to one year, Aurangzeb added.

Pakistan aims to boost its finances after securing a $7 billion International Monetary Fund (IMF) bailout in September 2024, with the first review set for late February.

“We have the first formal review of the EFF coming through toward (the) end of February,” Aurangzeb said. “I do think we are in good stead for that review.”

IMF extended fund facilities (EFFs) provide financial assistance to countries facing serious medium-term balance of payments problems resulting from structural weaknesses that require time to address.


Pakistan invites Cambodian businesses to invest in agriculture, tourism, textile sectors

Pakistan invites Cambodian businesses to invest in agriculture, tourism, textile sectors
Updated 21 January 2025
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Pakistan invites Cambodian businesses to invest in agriculture, tourism, textile sectors

Pakistan invites Cambodian businesses to invest in agriculture, tourism, textile sectors
  • Commerce Minister Jam Kamal attends inaugural Pakistan-Cambodia Joint Trade Committee in Phnom Penh
  • Pakistan and Cambodia’s bilateral trade of goods and services valued at $45.5 million, says commerce ministry

ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal Khan on Tuesday invited Cambodian businesses to explore investment opportunities in the country’s agriculture, textiles, pharmaceuticals and tourism sectors, his ministry said, as Islamabad eyes foreign investment to ward off a prolonged economic crisis. 

The development took place as both sides took part in the inaugural session of the Pakistan-Cambodia Joint Trade Committee (JTC) in Phnom Penh. 

Khan arrived in Cambodia on Jan. 19 for a three-day official visit to the country to engage in bilateral trade talks amid Islamabad’s push to seek closer trade ties as it targets sustainable economic growth. 

“Pakistan’s Minister for Commerce highlighted Pakistan’s strategic location, growing economy and investment-friendly policies, inviting Cambodian businesses to explore opportunities in agriculture, textiles, pharmaceuticals and tourism,” Pakistan’s Commerce Ministry said. 

The minister stressed Pakistan’s efforts to improve ease of doing business and its potential as a gateway to key markets in South Asia, Central Asia and the Middle East.

The ministry further said Khan and Cambodian Commerce Minister Cham Nimul discussed mutual interests such as trade, health, banking, agriculture, aviation and customs. 

She appreciated the first JTC meeting between the two sides and expressed interest in visiting Pakistan for the second JTC meeting after Khan extended her a formal invitation. 

Nimul called for exploring joint ventures to leverage regional opportunities, highlighting Cambodia’s market access within the Association of Southeast Asian Nations (ASEAN) region, Pakistan’s commerce ministry said. 

“Both countries also expressed interest in MoUs for aviation, banking, and customs cooperation,” the statement said. 

“With bilateral trade currently valued at $45.5 million, both sides acknowledged significant untapped potential and committed to building stronger ties.”

The ministry said both sides will appoint focal persons to expedite negotiations for signing MoUs aimed at enhancing cooperation. 

Additionally, Pakistan and Cambodia also agreed to share trade-related information, organize trade delegations and facilitate their respective business communities.