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Pakistan deputy PM signs ECO clean energy charter at Iran summit

Pakistan deputy PM signs ECO clean energy charter at Iran summit
Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar (sitting on the right), signs the Economic Cooperation Organization’s (ECO) charter on clean energy at the 28th meeting of the ECO Council of Ministers in Mashhad, Iran on December 3, 2024. (PID)
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Updated 03 December 2024
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Pakistan deputy PM signs ECO clean energy charter at Iran summit

Pakistan deputy PM signs ECO clean energy charter at Iran summit
  • The ECO is an intergovernmental organization that promotes economic, technical, and cultural cooperation among members
  • Ishaq Dar also met Iranian FM in Mashhad, where the two leaders agreed to deepen bilateral cooperation in all spheres
Updated 03 December 2024
SAIMA SHABBIR
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ISLAMABAD: Pakistan’s deputy prime minister and foreign minister, Ishaq Dar, on Tuesday signed the Economic Cooperation Organization’s (ECO) charter on clean energy to enhance regional cooperation for transition to sustainable energy, the Pakistani foreign ministry said.
The ECO is a political and economic intergovernmental organization that promotes economic, technical, and cultural cooperation among member states. Founded in 1985 by Iran, Pakistan and Turkiye, the ECO aimed to succeed the Regional Cooperation for Development (RCD), which existed from 1964 to 1979.
The ECO’s objectives include contributing to the development of member states, removing trade barriers within the ECO region, developing intra-regional trade, promoting the ECO region’s integration with global markets and strengthening cultural and historical ties among member states.
Pakistan’s foreign ministry said the ECO clean energy charter would contribute to the global network of regional sustainable energy centers under the framework of the UN’s Sustainable Energy for All Initiative.
“The charter is a flagship initiative of ECO in the energy sector which will focus on research & development for innovative renewable clean energy sources to combat climate change [and] play a bridging role in enhancing regional cooperation for smooth transition to sustainable energy,” it said in a statement.
Dar signed the charter at the 28th meeting of the ECO Council of Ministers in Mashhad, Iran, where he also held a bilateral meeting with Iranian foreign minister Seyed Abbas Araghchi.
“During the meeting, they exchanged views on areas of mutual interest and the latest regional and global developments,” Pakistan’s state-run APP news agency reported. “Both countries agreed to deepen bilateral cooperation in all spheres.”
The meeting came weeks after Araghchi’s visit to Islamabad to hold consultations with Pakistani leaders on the Middle East situation following Israel’s invasion of Gaza and Lebanon, and to discuss bilateral ties.
Separately, Dar held meetings with ECO Secretary General Dr. Asad Majeed and Deputy Prime Minister of Kazakhstan Murat Nurtleu to discuss the latest regional and global developments, and platforms to boost inter-regional connectivity and trade cooperation among ECO members.

Topics: Pakistan Iran Ties Foreign minister Ishaq Dar Economic Cooperation Organization

BBC names Pakistan's Mahrang Baloch, Hadiqa Kiani among 100 most inspiring women in 2024

BBC names Pakistan's Mahrang Baloch, Hadiqa Kiani among 100 most inspiring women in 2024
Updated 12 min 58 sec ago
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BBC names Pakistan's Mahrang Baloch, Hadiqa Kiani among 100 most inspiring women in 2024

BBC names Pakistan's Mahrang Baloch, Hadiqa Kiani among 100 most inspiring women in 2024
  • Baloch, a medical doctor and activist, has led several demonstrations against alleged enforced disappearances in Pakistan
  • In response to the devastating 2022 floods in Pakistan, Kiani launched her Vaseela-e-Raah project to aid flood-affectees
Updated 12 min 58 sec ago
Arab News Pakistan

ISLAMABAD: The British Broadcasting Corporation (BBC) on Tuesday named two Pakistanis, Mahrang Baloch and Hadiqa Kiani, among a list of 100 most inspiring and influential women in 2024.

Women have had to dig deep and find new levels of resilience from facing deadly conflicts and humanitarian crises in Gaza, Lebanon, Ukraine and Sudan, to witnessing the polarisation in societies that followed a record number of elections around the world, according to the broadcaster.

'BBC 100 Women' acknowledged the toll this year took on women by celebrating those who pushed for change as the world changed around them. The list also remained committed to exploring the impact of the climate emergency, highlighting climate pioneers who worked to help their communities tackle its impacts.

Baloch, a Pakistani medical doctor and political activist, was among hundreds of women across Pakistan taking part in demonstrations against alleged enforced disappearances in the southwestern Balochistan province. In late 2023, she led a 1,600-kilometer march to Islamabad to demand information on whereabouts of their family members, and was twice arrested during the journey.

"The medical doctor has since then become a prominent activist, under the banner of her own human rights group Baloch Yakjehti (Unity) Committee," the BBC wrote. "Her work in the field of human rights was recognised in the TIME100 Next 2024 list of emerging leaders."

Protesters from Pakistan's most impoverished Balochistan province, which has been the scene of a long-running insurgency, say their loved ones have been taken and killed by Pakistani security forces, amid a counterinsurgency operation. The authorities deny the accusations.

Pakistani singer and songwriter Kiani, known for her contributions to humanitarian causes, was the other Pakistani on the list. Rising to fame in the 1990s, she became a celebrated force in South Asian female pop music as well as a United Nations Development Programme (UNDP) goodwill ambassador.

"In response to the devastating 2022 floods in Pakistan, Kiani launched her Vaseela-e-Raah project, dedicated to aiding victims in the regions of Balochistan and South Punjab," the broadcaster said.

"She urged the public to assist displaced families and last year, the project announced it had built 370 homes and other facilities in the affected areas."

The BBC's list of 100 inspiring and influential women from around the world also included stranded astronaut Sunita Williams, rape survivor Gisèle Pelicot, actress Sharon Stone, Olympic athletes Rebeca Andrade and Allyson Felix, singer Raye, Nobel Peace Prize laureate Nadia Murad, visual artist Tracey Emin, climate campaigner Adenike Oladosu and writer Cristina Rivera Garza.

Topics: Pakistani women

Pakistan stocks rally continues as market crosses record 104,000 points

Pakistan stocks rally continues as market crosses record 104,000 points
Updated 03 December 2024
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Pakistan stocks rally continues as market crosses record 104,000 points

Pakistan stocks rally continues as market crosses record 104,000 points
  • The benchmark KSE-100 index gained 1,284 points, or 1.24 percent, to close at 104,559 points on Tuesday
  • The development came amid slowing annual inflation, narrowing trade deficit and increasing exports
Updated 03 December 2024
KASHIF IMRAN

ISLAMABAD: The Pakistan Stock Exchange (PSX) on Tuesday continued its momentum and surged by more than 1,000 points to close at another record high, with stock analysts attributing it to upbeat economic data and a possible policy rate cut.
The benchmark KSE-100 index gained 1,284 points, or 1.24 percent, to close at 104,559 points on Tuesday afternoon, compared to the previous day close of 103,274 points.
The development came as Pakistan’s annual consumer inflation slowed to 4.9 percent in November, amid a narrowing trade deficit and increasing exports.
“Upbeat data on $8.65 billion trade deficit narrowing by 7.4 percent, and $13.69bn exports, up by 12.57 percent, for Jul-Nov 2024 played a catalyst role in record surge at PSX,” Ahsan Mehanti, chief executive officer (CEO) of Arif Habib Corporation, told Arab News.
Consumer inflation cooled from 7.2 percent in October, a sharp drop from a multi-decade high of nearly 40 percent in May 2023. The South Asian country also slashed interest rates by 250 basis points earlier in November to help revive a sluggish economy amid a big drop in the rate of inflation.
Mehanti said the bullish trend was led by scrips across the board as investors eyed big policy rate cut next week.
The PSX breached the 100,000-mark for the first time ever on November 28 to close at 100,082 points.

Topics: Pakistan Stock Exchange Pakistan Stock Exchange (PSX) Pakistan Stock Market

Pakistan denies ‘hiccups’ in IMF program, reaffirms commitment to reforms agenda

Pakistan denies ‘hiccups’ in IMF program, reaffirms commitment to reforms agenda
Updated 03 December 2024
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Pakistan denies ‘hiccups’ in IMF program, reaffirms commitment to reforms agenda

Pakistan denies ‘hiccups’ in IMF program, reaffirms commitment to reforms agenda
  • Statement comes on the heels of local media report that there were “hiccups” in the implementation of IMF program
  • IMF is pushing Pakistan to continue prudent fiscal and monetary policies, mobilize revenue from untapped tax bases
Updated 03 December 2024
SAIMA SHABBIR

ISLAMABAD: Pakistan’s finance ministry on Tuesday denied any “hiccups” in the implementation of a $7 billion IMF bailout program, saying it was progressing “smoothly” and the country was committed to a macroeconomics reforms agenda attached to the loan. 
The finance ministry statement came a day after a major Pakistani newspaper, the Express Tribune, reported that Finance Minister Muhammad Aurangzeb had said in a briefing to the National Assembly Standing Committee on Finance that there were “hiccups” in the implementation of the IMF program. 
The bailout is attached to tough economic reforms, including prudent fiscal and monetary policies, and mobilizing revenue from untapped tax bases.
Pakistan’s $350 billion economy has struggled for decades with boom-and-bust cycles, needing 23 IMF bailouts since 1958.
“The IMF program is proceeding smoothly, with no disruptions, as the government of Pakistan remains fully committed to meeting all the conditionalities and ensuring the successful completion of the 37-month program in close coordination with the IMF staff,” the finance ministry statement said, adding that Aurangzeb had “consistently emphasized upon the government’s continued commitment to macroeconomic reforms.”
Referring to the local media report on the recent briefing to the National Assembly Standing Committee on Finance, the ministry said Aurangzeb had reiterated there that adhering to the IMF program was critical for achieving lasting macroeconomic stability.
“Any speculation regarding “hiccups” in the program’s implementation is based on one’s subjective interpretations and lacks credible evidence,” the finance ministry added. 
“The government remains focused on maintaining economic stability and fulfilling all obligations under the IMF program with diligence and transparency, aiming to lay the foundation for stronger, sustainable, and inclusive growth.”
The IMF, which approved the new bailout in September, has said the program will require “sound policies and reforms” to strengthen macroeconomic stability and address structural challenges alongside “continued strong financial support from Pakistan’s development and bilateral partners.”
The IMF said in its statement on approving the loan that Pakistan had taken key steps to restore economic stability with consistent policy implementation under the 2023-24 standby arrangement.
It added that growth had rebounded to 2.4 percent and inflation has receded significantly, falling to single digits, amid appropriately tight fiscal and monetary policies.
A contained current account and calm foreign exchange market conditions have allowed the rebuilding of reserve buffers, and the central bank of Pakistan has been able to reduce interest rates by 700 bps since June in four consecutive cuts.
Despite this progress, Pakistan’s vulnerabilities and structural challenges remain formidable and the tax base remains too narrow.
The South Asian country is the IMF’s fifth-largest debtor, owing the Fund $6.28 billion as of July 11, according to the lender’s data.

Topics: Pakistan IMF Talks

Pakistan win Blind T20 World Cup, coinciding with International Day Of Persons With Disabilities

Pakistan win Blind T20 World Cup, coinciding with International Day Of Persons With Disabilities
Updated 03 December 2024
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Pakistan win Blind T20 World Cup, coinciding with International Day Of Persons With Disabilities

Pakistan win Blind T20 World Cup, coinciding with International Day Of Persons With Disabilities
  • Pakistan’s blind cricket team defeats Bangladesh by 10 wickets
  • This is Pakistan’s first win since inception of the series in 2012
Updated 03 December 2024
Muhammad Ibrahim

ISLAMABAD: Pakistan’s blind cricket team on Tuesday won the Blind T20 World Cup, defeating Bangladesh by 10 wickets in a victory that coincided with the annual International Day Of Persons With Disabilities.
This is the first time Pakistan has won the Blind T20 World Cup since the inception of the series in 2012, with India winning the previous three editions.
“Congratulations to the Pakistan blind cricket team for clinching the Blind Cricket T20 World Cup title with a 10-wicket win over Bangladesh in the final at Multan Cricket Stadium,” the Pakistan Cricket Board said on X.

In a thrilling finale, Bangladesh managed to post a modest total of 139 runs after losing seven wickets, while Arif Hussain stood out as the star performer for Bangladesh, delivering 54 runs.
On the bowling front for Pakistan, Babar Ali claimed three crucial wickets while his teammates Motiullah and Mohammad Salman each took one wicket. Pakistan then successfully chased down the target in 11 overs without losing a single wicket.
The opening pair of Nisar Ali and Mohammad Safdar forged an unbeaten partnership that saw Ali score an impressive 72 runs and Safdar 47 runs, leading the host nation to a resounding 10-wicket victory.
In the inaugural Blind T20 World Cup held in India in 2012, the hosts triumphed over Pakistan with a 29-run victory. The second edition, hosted in 2017, saw India winning by 9 wickets against Pakistan. In the most recent edition in 2022, India bested Bangladesh in the final to claim the trophy once again.
However, India did not participate in the fourth edition as their government denied the team permission to travel to Pakistan where the series was held.

 

Topics: Pakistan Blind cricket team Pakistan Blind Cricket Council International Day Of Persons With Disabilities 2024

Pakistan province forms grand jirga to broker truce after 133 killed in sectarian feuding

Pakistan province forms grand jirga to broker truce after 133 killed in sectarian feuding
Updated 03 December 2024
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Pakistan province forms grand jirga to broker truce after 133 killed in sectarian feuding

Pakistan province forms grand jirga to broker truce after 133 killed in sectarian feuding
  • 133 people killed, 177 injured in sporadic clashes in Kurram district since Nov. 21 with two failed attempts at a ceasefire
  • Grand jirga has participation of former lawmakers from tribal districts with representation from Sunni and Shiite sects
Updated 03 December 2024
REHMAT MEHSUD

PESHAWAR: The government in Pakistan’s northwestern Khyber Pakhtunkhwa province has formed a grand council of elders to broker a ceasefire in the region’s Kurram district where over 130 people have been killed in sectarian clashes since last month and two earlier deals to stymie the fighting have failed, members of the new council said on Tuesday.
Pakistan is a Sunni-majority country, but Kurram has a large Shiite population, and the communities have clashed for decades. At least 133 people have been killed and 177 injured in sporadic clashes since Nov. 21, with two failed attempts at a ceasefire.
On Monday, the provincial cabinet approved what it called a “comprehensive action plan” aimed at “restoring durable peace and stability” in Kurram. The plan involves a new grand jirga comprising former parliamentarians and senators from tribal districts with representation from both the Sunni and Shiite sects, ex-senator Saleh Shah, a member of the council, told Arab News.
“We are fully empowered by the provincial government to move the peace efforts forward to settle the Kurram saga once and for all,” Shah said on Tuesday. “Because of the representation of members of both the sects in the jirga, I’m very much optimistic that we can settle the Kurram issue ... Since the day the jirga was formed, we are getting positive signals for a breakthrough.”
The latest fighting broke out last Thursday when two separate convoys of Shiite Muslims traveling under police escort were ambushed, killing more than 40. Since then days of fighting with light and heavy weapons have brought the region to a standstill, with major roads closed and mobile phone services cut as the death toll surged.
Shah said the jirga had already had its first meeting, and also met with KP chief minister Ali Amin Gandapur and Governor Faisal Karim Kundi. Meetings were now also planned with the Peshawar corps commander, the prime minister, the president and the army chief to discuss the overall security situation of the area.
The jirga will head to Kurram district after the apex committee meeting, attended by the prime minister, his cabinet and all three services chiefs, which was scheduled to be held on Dec. 5, Shah said. 
“The jirga members have the capacity to arrest peace in Kurram as we have seen many ups and downs in the region,” Shah said. “We are active in politics on the ground in KP and the tribal areas and we have the ability to set things on track.”
Another member of the Jirga, Sajjid Hussain Turi, a former minister for overseas Pakistanis, said the northwestern tribal areas in general and the Kurram district in particular were experiencing a “complete collapse of law and order.”
“I’m sure the newly-formed jirga can deliver in helping the government to identify pathways leading to eternal peace in Kurram,” he said. “All members of the jirga are well-experienced and political heavyweights to tackle challenges effectively.
“Our main purpose is to give a permanent solution to the people of Kurram. Second, we want to give peace to our children, otherwise we have spent our youth in incessant wars and fighting.”

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