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Pakistan, Russia ink 8 agreements related to health, education and trade in Moscow

Pakistan, Russia ink 8 agreements related to health, education and trade in Moscow
In this handout photograph released by Pakistan’s embassy in Moscow on December 4, 2024, Pakistani miniter for power, Sardar Awais Ahmed Khan Leghari, meets Russian minister for energy, Sergey Tsivilev, following the 9th Session of Pakistan-Russia Inter-Governmental Commission. (Photo Courtesy: X@PakinRussia)
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Updated 3 min 48 sec ago
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Pakistan, Russia ink 8 agreements related to health, education and trade in Moscow

Pakistan, Russia ink 8 agreements related to health, education and trade in Moscow
  • Pakistan’s energy minister leads delegation in 9th Inter-Government Commission meeting with Russia
  • Pakistan and Russia, once bitter rivals during Cold War era, have moved closer in recent months
Updated 3 min 48 sec ago
Aamir Saeed
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ISLAMABAD: Pakistan and Russia signed eight memorandums of understanding (MoUs) in the fields of health, trade and education on Wednesday, the energy ministry said, as Islamabad eyes foreign investment and enhanced cooperation to stabilize its fragile economy. 

The agreements were signed during the 9th Inter-Governmental Commission meeting in Moscow between Pakistan and Russia. The Pakistani side is being led by Federal Minister for Energy Sardar Awais Leghari as Islamabad and Moscow discuss different bilateral trade options.

“Federal Minister for Energy Sardar Owais Ahmed Leghari, who is in Moscow along with a delegation, signed eight agreements between Russia and Pakistan,” the ministry said. 

One of the eight agreements was between Pakistan’s COMSATS and Peshawar University with Russian educational institutions, the ministry said, while others related to the production of insulin and enhancing trade and industrial cooperation. 

Pakistan and Russia, once Cold War rivals, have warmed up to each other in recent years through regular business and trade interactions. As Islamabad seeks to enhance its role as a transit hub for landlocked economies in Central Asia, it has expressed interest in connecting with Russia through Central Asia for bilateral trade.

Islamabad’s ties with Russia also saw significant improvement last year after Pakistan started purchasing Russian crude oil at a discount. Geopolitical tensions triggered fuel prices to more than double in Pakistan last year, forcing the country to opt for cheaper sources of fuel. 

In 2023, Pakistan’s bilateral trade with Russia reached $1 billion. This was an increase from 2022, when Russia exported $505 million to Pakistan and Pakistan exported $75.8 million to Russia.

Topics: Pakistan Russia Ties

Five militants killed in operation in northwest Pakistan — army

Five militants killed in operation in northwest Pakistan — army
Updated 1 min 40 sec ago
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Five militants killed in operation in northwest Pakistan — army

Five militants killed in operation in northwest Pakistan — army
  • Pakistani security forces launch intelligence-based operation in Lakki Marwat district
  • Pakistan has suffered a surge in violence in its western provinces since November 2022
Updated 1 min 40 sec ago
Arab News Pakistan

ISLAMABAD: Pakistani security forces shot dead five militants in the country’s northwestern Khyber Pakhtunkhwa (KP) province in an intelligence-based operation, the military’s media wing said on Wednesday, as Islamabad battles surging militancy. 

The operation was conducted in KP’s restive Lakki Marwat district, where militants mostly from the Tehreek-e-Taliban Pakistan (TTP) have conducted attacks on security forces in the past. 

“During the conduct of operation, own troops effectively engaged khwarij location and resultantly, five khwarij were sent to hell, while two Khwarij also got injured,” the military’s media wing said, referring to the outlawed TTP. 

The military said that a sanitization operation was being conducted to eliminate any militants in the area. 

“Security forces of Pakistan are determined to wipe out the menace of terrorism from the country,” it said. 

Pakistan witnessed a spike in militant violence in its two western provinces, KP and Balochistan, since the Pakistani Taliban called off their fragile truce with the government in November 2022. The group has intensified its attacks in recent months.

Islamabad has blamed the surge in violence on militants operating out of neighboring Afghanistan. Kabul denies the allegation and says rising violence in Pakistan is a domestic issue of Islamabad.

Topics: militancy in Pakistan

Pakistan petroleum minister says no deal with Russia on importing crude oil next year

Pakistan petroleum minister says no deal with Russia on importing crude oil next year
Updated 53 min 57 sec ago
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Pakistan petroleum minister says no deal with Russia on importing crude oil next year

Pakistan petroleum minister says no deal with Russia on importing crude oil next year
  • Musadik Malik rejects news report of Pakistan restarting crude oil trade with Russia from January
  • Pakistan pursuing $8-$10 billion Saudi investment for a greenfield oil refinery, says petroleum minister
Updated 53 min 57 sec ago
Aamir Saeed

ISLAMABAD: Pakistan’s Petroleum Minister Musadik Malik on Wednesday clarified that Islamabad had not reached any agreement with Moscow to import crude oil from Russia at a discounted rate. 

The minister was rebutting a report in The News, a Pakistani English-language daily, which claimed that Islamabad and Moscow have agreed to restart their crude oil trade from January 2025.

The report said that the deal between the two sides was reached during the recent 9th Inter-Governmental Commission meeting in Moscow. As per the deal, the Pakistan Refinery Limited (PRL) would import one cargo each month under the government-to-government arrangement, the report said. 

“The reports of importing crude from Russia on the discounted rate are false,” Malik told reporters at an informal briefing. “No deal is reached with Russia regarding import of the crude oil.”

Meanwhile, in a letter addressed to the Pakistan Stock Exchange (PSX), the PRL also rejected the news report. 

“We would like to clarify that no such agreement has been made,” it said. “We remain committed to transparency and will keep our stakeholders informed of any developments directly through our official channels.”

Separately, Malik said the government was pursuing an investment from Saudi Arabia for around $8-$10 billion for a greenfield refinery project, adding that a feasibility report for it would be available by the end of this month.

“We will receive the draft of the feasibility report by December 24,” he said. “This greenfield refinery project will fetch an investment of $8-$10 billion.”

The minister said that multiple Saudi companies were taking an interest in Pakistan’s mining sector.

He spoke about Pakistan and Saudi Arabia signing agreements in October worth $2.8 billion for investments in different sectors including energy, information technology and food.

“We have signed 34 MoUs and seven agreements with Saudi Arabia worth $2.8 billion in a recent period of the government,” Malik said. 

He said that the Pakistan Refinery Limited (PRL) and a Saudi company were close to signing another agreement of $1.7 billion. 

Talking about the much-stalled Iran-Pakistan gas pipeline project, Malik said the government would try to get sanctions waived from the US to complete it. 

“We will try to get exemption on the US sanctions to complete the IP gas pipeline project,” he said. “It is not in the interest of the country to talk further on it.”

The countries signed an agreement to construct the pipeline from Iran’s South Fars gas field to Pakistan’s Balochistan and Sindh provinces in 2010, but work on Pakistan’s portion has been held up due to fears of US sanctions.

The 1,900 kilometer (1,180 mile) pipeline was meant to supply 750 million to one billion cubic feet per day of natural gas for 25 years to meet Pakistan’s rising energy needs.

Malik said no additional cargo of Liquified Natural Gas (LNG) was being imported from Qatar for the winter season as a surplus quantity of the commodity was already available for consumption.

“We have held up five additional cargos of the LNG for now, and five other cargos could also be delayed for the next year,” the minister said.

Topics: Pakistan Russia Ties discounted Russian crude oil

Pakistan conducts ‘Winter Freeze’ simulation exercise to prepare for smog, earthquake disasters

Pakistan conducts ‘Winter Freeze’ simulation exercise to prepare for smog, earthquake disasters
Updated 04 December 2024
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Pakistan conducts ‘Winter Freeze’ simulation exercise to prepare for smog, earthquake disasters

Pakistan conducts ‘Winter Freeze’ simulation exercise to prepare for smog, earthquake disasters
  • Simulation exercise involved scenarios such as severe blizzard, smog and earthquakes
  • Law enforcement agencies, disaster management authorities partake in two-day exercise
Updated 04 December 2024
SAIMA SHABBIR

ISLAMABAD: Pakistan’s National Disaster Management Authority (NDMA) concluded a two-day “Winter Freeze” simulation exercise (SimEx) on Wednesday to strengthen the country’s disaster preparedness and response mechanism against winter-related disasters such as cold weather, smog and earthquakes. 

Simulation exercises are used to test and improve a community’s preparedness for disasters and help it prepare contingency plans. 

Pakistan is ranked as the 5th most vulnerable country to climate change, according to the Global Climate Risk Index. In 2022, devastating floods affected over 33 million people and caused economic losses exceeding $30 billion, highlighting the country’s high susceptibility to extreme weather events.

“The National Disaster Management Authority (NDMA) conducted a National Simulation Exercise (SimEx), titled ‘Winter Freeze’ from 3rd to 4th December 2024 at NDMA HQs,” the NDMA said. 

It said the simulation included a series of challenging scenarios such as a severe blizzard hitting Pakistan’s northern areas that triggered snowstorms, road blockages and power outages and caused tourists to be stranded in different parts of the country.

“The exercise also simulated a major earthquake in northern Balochistan and southern Khyber Pakhtunkhwa, testing the effectiveness of rescue operations, medical response and mobilization of humanitarian response in remote areas,” the authority said. 

Heavy smog covered parts of Pakistan’s Punjab province in October and November while the country has suffered from devastating earthquakes, floods and other disasters in the past. 

The simulation also addressed severe smog conditions in Punjab, particularly in Lahore, focusing on the health impacts, emergency medical responses and measures to prevent the dangers of air pollution, the NDMA added. 

The provincial disaster management authorities, the Gilgit-Baltistan Disaster Management Authority (GBDMA), law enforcement bodies and representatives of humanitarian organizations participated in the exercise. 

“Participants acknowledged the platform provided by NDMA for preparedness and timely measures to deal with disasters and also gave their feedback and suggestions so that possible future disasters can be avoided,” the NDMA said.

Topics: National Disaster Management Authority of Pakistan (NDMA) pakistan climate change Pakistan Smog

China Pakistan’s biggest lender, Saudi Arabia at second place — World Bank

China Pakistan’s biggest lender, Saudi Arabia at second place — World Bank
Updated 04 December 2024
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China Pakistan’s biggest lender, Saudi Arabia at second place — World Bank

China Pakistan’s biggest lender, Saudi Arabia at second place — World Bank
  • China’s share of Pakistan’s total external liabilities stands at 22 percent, Saudi Arabia’s at 7 percent
  • Islamabad has eyed trade, investment with Riyadh and Beijing to ward off economic crisis
Updated 04 December 2024
Shahjahan Khurram

ISLAMABAD: China remains Pakistan’s biggest lender with its debt comprising 22 percent of Islamabad’s total external liabilities, followed by Saudi Arabia with its share of debt comprising seven percent, the World Bank said in its latest report this week. 
According to the annual International Debt Report 2024 released by the World Bank on Tuesday, Pakistan’s total debt in the report showed that Islamabad’s total external debt stood at $130.847 billion at the end of 2023. China remains Pakistan’s top bilateral creditor with its debt comprising 22 percent of Pakistan’s total external liabilities or $28.786 billion.

Saudi Arabia comes in second place with its debt comprising 7 percent of Pakistan’s total external liabilities or $9.16 billion. 

The South Asian region saw the biggest yearly increase in interest payments in 2023, the report said. 
“The increase was most noticeable in Bangladesh and India, whose interest payments increased by more than 90 percent in 2023,” the World Bank’s report said. “Pakistan made the second-largest interest payments in the region.”

The World Bank’s share of debt comprises 18 percent of Pakistan’s total external liabilities, the Asian Development Bank’s comprises 15 percent while other multilateral creditors’ debt comprises 13 percent of Islamabad’s external debts. 

Other bilateral lenders’ share comprises 8 percent of Islamabad’s total external liabilities while bondholders comprise 8 percent as well. 

Pakistan considers China and Saudi Arabia close regional allies that have invested in the South Asian country for trade and investment purposes. Beijing has invested billions in Pakistan for an infrastructure project that Islamabad hopes will modernize its economy and improve its infrastructure considerably. 

Pakistan and Saudi Arabia also enjoy close economic ties. The Kingdom and Islamabad in October signed agreements, including investments in agriculture, semiconductor manufacturing, and energy, worth $2.8 billion.

Pakistan has increasingly eyed closer cooperation with the two countries, with a keen focus on enhanced trade and investment, as it attempts to break free of a macroeconomic crisis that has drained its resources and weakened its national currency. 

Islamabad last year avoided a sovereign default by clinching a last-gasp $3 billion loan deal from the International Monetary Fund (IMF). After a fresh 37-month bailout program and declining inflation this year, Pakistan’s economy has registered some gains, with its stock market enjoying a bullish trend for days.

Topics: Pakistan China Ties Pakistan Saudi Arabia ties foreign debt Pakistan economy

Pakistan calls for independent commission on minorities, activating mosques as community centers

Pakistan calls for independent commission on minorities, activating mosques as community centers
Updated 04 December 2024
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Pakistan calls for independent commission on minorities, activating mosques as community centers

Pakistan calls for independent commission on minorities, activating mosques as community centers
  • Non-Muslims constitute about three percent of Pakistan’s estimated population of 240 million
  • Pakistan’s minorities regularly come under attack by militant groups, complain of discrimination
Updated 04 December 2024
SAIMA SHABBIR

ISLAMABAD: Pakistan on Wednesday called for granting financial and administrative autonomy to the National Commission for Minorities and said an interfaith harmony policy should be launched to activate mosques as community centers to promote religious tolerance. 
Non-Muslims constitute about three percent of Pakistan’s estimated population of 240 million people. Pakistan’s minority communities complain of facing discrimination in nearly all walks of life and regularly come under attack by militant groups. They have also sometimes been accused of blasphemy, which is punishable by death in the South Asian nation.
On Wednesday, the Prime Minister’s Adviser on Political Affairs and Federal Minister for Inter-Provincial Coordination, Rana Sanaullah, chaired a meeting in Islamabad to review the National Commission for Minorities Bill 2024. Law Minister Azam Nazeer Tarar proposed at the meeting to make the National Commission for Minorities “independent and autonomous from ministerial pressure.”
“The subcommittee also proposed granting financial and administrative autonomy to the commission. The commission will consist of 13 members, 9 of whom will be from minority communities,” the ministry of religious affairs said in a statement. 
“The committee directed the Ministry of Law and Justice to finalize the National Commission for Minorities Bill 2024 within three days.”
A new interfaith harmony policy for promoting religious tolerance was also reviewed. 
“Sanaullah emphasized the significant importance of mosques in Islam and suggested that the interfaith harmony policy should include a proposal to activate mosques as community centers,” the statement said. 
“The committee directed the Ministry of Religious Affairs and Interfaith Harmony to present the interfaith harmony policy and the policy for promoting religious tolerance to the federal cabinet meeting for final approval, incorporating the subcommittee’s amendments related to both policies.”

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