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Pakistan PM says UAE has agreed to extend $2 billion debt due this month

Pakistan PM says UAE has agreed to extend $2 billion debt due this month
Pakistan Prime Minister Shehbaz Sharif meets the UAE President Sheikh Mohamed bin Zayed Al Nahyan in Rahim Yar Khan, Punjab province on January 5, 2025. (Photo courtesy: PMO)
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Updated 07 January 2025
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Pakistan PM says UAE has agreed to extend $2 billion debt due this month

Pakistan PM says UAE has agreed to extend $2 billion debt due this month
  • Shehbaz Sharif met UAE President Sheikh Mohamed bin Zayed Al-Nahyan in southern Punjab on Sunday
  • UAE is Pakistan’s third-largest trading partner and a major source of foreign investment for Islamabad
Updated 07 January 2025
Hasaan Ali Khan
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ISLAMABAD: Prime Minister Shehbaz Sharif told the federal cabinet on Tuesday that the United Arab Emirates (UAE) has agreed to roll over $2 billion in debt for Pakistan due this month, days after he held a one-on-one meeting with the Gulf country’s President Sheikh Mohamed bin Zayed Al-Nahyan.
Sharif met the UAE president in Pakistan’s Rahim Yar Khan city on Sunday where they discussed a wide range of issues such as economic collaboration, regional stability, climate change, and the promotion of mutual interests on the global stage, Sharif’s office had said. 
The UAE has rolled over its $2 billion deposits with Pakistan’s central bank since 2023, helping the South Asian country shore up its foreign exchange reserves, strengthen its currency and secure financial bailouts from the International Monetary Fund (IMF). 
Speaking to members of his cabinet, Sharif told them that during his one-on-one meeting with the UAE president, Al-Nayhan told him that Pakistan’s payment of the $2 billion loan was due in January. 
“So, he said we [UAE] are happy that we are extending it,” Sharif said. “He proposed it himself and I thanked him.”
The Pakistani premier said he had requested Deputy Prime Minister Ishaq Dar to proceed with the UAE in this regard so that Islamabad can “take forward our matters related to investment with them.”
He said the UAE president had also spoken to him about enhancing bilateral ties and investment-related matters between the two countries. 
The UAE is Pakistan’s third-largest trading partner after China and the United States (US), and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the UAE foreign ministry. 
It is also home to more than a million Pakistani expatriates. Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
In January last year, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure, a Pakistani official said, amid Pakistani caretaker prime minister Anwaar-ul-Haq Kakar’s visit to Davos, Switzerland to attend 54th summit of the World Economic Forum (WEF).

Topics: Pakistan UAE ties

Pakistan to hire consultant in few weeks for regulatory framework on satellite-based Internet

Pakistan to hire consultant in few weeks for regulatory framework on satellite-based Internet
Updated 20 sec ago
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Pakistan to hire consultant in few weeks for regulatory framework on satellite-based Internet

Pakistan to hire consultant in few weeks for regulatory framework on satellite-based Internet
  • Pakistan, a country of more than 240 million, has witnessed up to 40 percent drop in Internet speeds in the last few months
  • The country is in talks with Elon Musk’s Starlink satellite Internet provider, plans to link up with 2Africa submarine cable
Updated 20 sec ago
SAIMA SHABBIR

ISLAMABAD: Pakistan will be hiring a consultant to finalize regulations regarding satellite-based Internet services in the country, its information technology (IT) ministry said on Monday.
The statement came after State Minister for IT Shaza Fatima Khawaja chaired a meeting in Islamabad to review progress on licensing of Starlink Services, owned by US billionaire Elon Musk, and regulatory frameworks for Low Earth Orbit (LEO) satellites.
Pakistan, a country of over 240 million, has witnessed up to 40 percent drop in Internet speeds in the last few months, according to the Wireless and Internet Service Providers Association of Pakistan (WISPAP).
The drop came as the federal government last year moved to implement a nationwide firewall to block malicious content and protect government networks from cyberattacks, with IT associations saying the slowdowns have resulted in significant losses.
“During the meeting, it was decided that consultant hiring will be completed in a few weeks, for regulations,” the Pakistani IT ministry said.
“The minister emphasized the need for aligning Pakistan’s policies with global standards to unlock satellite technology’s full potential for national growth.”
Pakistan suffered a total of $1.62 billion losses due to Internet outages and social media shutdowns in 2024, according to a report by global Internet monitor Top10VPN.com, surpassing losses in war-torn countries like Sudan and Myanmar.
The report, released on Jan. 2, said Pakistan experienced 9,735 hours of Internet disruptions that affected 82.9 million users, with elections and protests cited as the primary causes.
The IT state minister last month confirmed that Pakistan was in talks with Musk’s Starlink to bring satellite Internet services to the country.
“Discussions [at Monday’s meeting] focused on expediting these processes to ensure a robust regulatory framework for LEO satellites, enhancing connectivity, and driving technological innovation,” the IT ministry added.
Pakistan also plans to enhance its Internet speeds and connectivity by linking up with the 2Africa submarine cable later this year, according to the Pakistan Telecommunications Authority (PTA), which regulates Internet in the South Asian country.
2Africa, one of the world’s largest submarine cable systems, spans 45,000 kilometers and connects 46 locations across Africa, Europe and the Middle East, offering speeds of up to 180 Tbps.

Topics: Pakistan internet Starlink satellites

Qaddafi Stadium renovation nears completion ahead of next month’s Champions Trophy in Pakistan

Qaddafi Stadium renovation nears completion ahead of next month’s Champions Trophy in Pakistan
Updated 12 min 45 sec ago
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Qaddafi Stadium renovation nears completion ahead of next month’s Champions Trophy in Pakistan

Qaddafi Stadium renovation nears completion ahead of next month’s Champions Trophy in Pakistan
  • The stadium will feature over 34,000 seats, brand-new scoreboards and state-of-the-art floodlights
  • The ICC Champions Trophy is set to begin on Feb. 19 in Karachi with Pakistan taking on New Zealand
Updated 12 min 45 sec ago
Arab News Pakistan

ISLAMABAD: The renovation of Qaddafi Stadium in Pakistan’s eastern Lahore city is close to completion, with all major structural work finished and final touches being applied ahead of the upcoming ICC Champions Trophy, Pakistani state media reported this week.
The Pakistan Cricket Board (PCB) has been renovating stadiums in Lahore and Karachi in preparation for the 2025 Champions Trophy scheduled to take place in February across three venues: Lahore, Karachi, and Rawalpindi. This will be the first ICC tournament held in Pakistan since the 1996 World Cup.
Pakistani fans have long expressed dissatisfaction with the country’s stadiums, particularly the National Bank Stadium in Karachi, citing a lack of basic facilities and a subpar viewing experience for spectators. In May last year, PCB Chairman Mohsin Naqvi directed officials to immediately hire an international consultant to upgrade Qaddafi Stadium in Lahore, National Bank Stadium in Karachi and Rawalpindi Cricket Stadium.
The PCB chairman visited Qaddafi Stadium on Monday to assess the progress of the renovation project and inspected construction of floors of the main building and top tiers of general enclosures, the Associated Press of Pakistan (APP) news agency reported.
“The up-gradation of Qaddafi stadium is all but complete as 100 percent grey structure work has been completed while finishing work is being undertaken at a rapid pace,” the report said, citing the PCB chairman.
Qaddafi Stadium is set to transform into a world-class facility, featuring over 34,000 seats, brand-new scoreboards on both sides and state-of-the-art floodlights, ensuring exceptional visibility for both players and spectators after sunset, according to the report.
Naqvi praised workers for keeping the project’s completion on track despite the challenging winter conditions and dense fog.
“We are committed to delivering a fully renovated and modernized Qaddafi Stadium before the ICC Champions Trophy,” he said. “It will stand as a symbol of excellence and pride for Pakistan cricket.”
The ICC Champions Trophy 2025 will take place from February 19 till March 9, with matches hosted across Pakistan and Dubai in a hybrid model.
The tournament’s structure follows a compromised decision after India refused to play in Pakistan, citing “security concerns.” Exercising its rights as the host nation, Pakistan designated Dubai as the neutral venue for India’s matches, ensuring all teams’ participation.
In Pakistan, Karachi, Lahore and Rawalpindi will host three group-stage games each. Lahore is also set to host the second semifinal. Dubai will host all three of India’s group matches and the first semifinal, should India qualify.
The tournament opener on Feb. 19 will feature Pakistan taking on New Zealand in Karachi, while India will face Bangladesh in Dubai on Feb. 20.
This will be the ninth edition of the ICC Champions Trophy, after an eight-year hiatus. The last tournament took place in England in 2017. The event will feature top eight teams in world cricket competing for one of the sport’s most prestigious titles.

Topics: Qaddafi Stadium Mohsin Naqvi Pakistan Cricket Board (PCB) ICC Champions Trophy 2025

Pakistan to abolish 150,000 government posts this year to implement rightsizing reforms

Pakistan to abolish 150,000 government posts this year to implement rightsizing reforms
Updated 50 min 38 sec ago
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Pakistan to abolish 150,000 government posts this year to implement rightsizing reforms

Pakistan to abolish 150,000 government posts this year to implement rightsizing reforms
  • The development comes amid Pakistan’s efforts to revive its $350 billion economy since avoiding a default in 2023
  • The Pakistani government’s rightsizing process involves 43 ministries and 400 departments affiliated with them
Updated 50 min 38 sec ago
SAIMA SHABBIR

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb on Tuesday said the federal government planned to abolish nearly 150,000 vacant government posts by June to implement its rightsizing reforms, which aim to reduce expenditures and enhance efficiency of public departments.
Pakistan’s federal government established an austerity committee in Feb. 2024 to cut its expenditures and implement institutional rightsizing reforms.
On Dec. 24, the committee proposed the closure and merger of various departments in the Ministries of Science and Technology, Commerce, Housing and Works, and National Food Security.
The committee also suggested the federal cabinet to reduce staff in these ministries by 30 percent, aiming to save the national exchequer around Rs42.1 billion ($151 million) annually.
“For the rightsizing of federal government, entire process, including recommendations and implementation for all 43 ministries and their 400 attached departments, will be completed before June 30,” Aurangzeb said at a press conference in Islamabad.
“Sixty percent of vacant regular posts, approximately 150,000, will be abolished or declared redundant, resulting in a significant financial impact.”
The development comes amid Pakistan’s efforts to revive its $350 billion economy since avoiding a default in June 2023. The South Asian country last year secured a new $7 billion loan from the International Monetary Fund (IMF) and has been actively pursuing trade and investment opportunities to put the economy on the path of recovery.
Sharing six-month performance of the austerity committee, he said general non-core services, including gardening, cleaning and plumbing, were outsourced by government departments to improve efficiency, while contingency posts were reduced to some extent.
“In the first phase, decisions were made concerning six ministries, including Kashmir Affairs and Gilgit-Baltistan, SAFRON (State and Frontier Regions), IT and Telecom, Industries and Production, National Health Services, and the Capital Administration and Development Division (CAD),” he said.
The committee decided to abolish CAD and merge the Ministries of Kashmir Affairs and Gilgit-Baltistan with SAFRON, according to the finance minister. This reduced 80 entities associated with these ministries to 40.
In the second phase, he said, the Ministries of Science and Technology, Commerce, Housing and Works, and National Food Security were reviewed.
“Out of the 60 entities within these ministries, 25 will be dissolved, 20 will be reduced, and nine will be merged,” Aurangzeb said, promising to ensure implementation of the austerity committee’s decisions.
“In the third phase, recommendations regarding five ministries, Federal Education and Professional Training, Information and Broadcasting, National Heritage and Culture, Finance Division, and Power Division, will be submitted to the federal cabinet for approval.”

Topics: Finance Minister Muhammad Aurangzeb Arab News Pakistan

Hundreds protest power outages in Pakistan’s north for fifth consecutive day

Hundreds protest power outages in Pakistan’s north for fifth consecutive day
Updated 07 January 2025
AFP
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Hundreds protest power outages in Pakistan’s north for fifth consecutive day

Hundreds protest power outages in Pakistan’s north for fifth consecutive day
  • Routine load-shedding is widespread across fuel-deprived Pakistan, but residents of mountainous Gilgit-Baltistan region endure prolonged blackouts
  • Senior government official in the region says negotiations are ongoing with the protesters, who demand under-construction power projects be expedited
Updated 07 January 2025
AFP

KHAPLU: Hundreds of people blocked a highway on Tuesday in Pakistan’s mountainous northern region in protest against power outages lasting longer than 20 hours, as temperatures plunged to minus 15 degrees Celsius.
Routine load-shedding is widespread across fuel-deprived Pakistan, but residents of the mountainous, snow-covered regions in Gilgit-Baltistan endure prolonged blackouts.
“We have been facing the worst kind of power cuts, we get only one or two hours of electricity during the whole day,” Baba Jan, a political activist who organized the protest, told AFP.
Around 1,000 people have joined the demonstration in the picturesque valley of Hunza since Friday, blocking a section of the 1,300-kilometer (808-mile) Karakoram Highway and preventing dozens of freight trucks from crossing into China.
People in the region usually rely on wood to keep warm as both gas and fuel-operated generators are too expensive.
“People from all walks of life including the tourists are suffering in extremely cold weather due to the absence of electricity,” Zahoor Ali, another protest organizer told AFP.
The highway is part of the China-Pakistan Economic Corridor (CPEC) in which China has invested billions of dollars, connecting the northern border to the southern coastal city of Gwadar.
“The Karakoram Highway at Ali Abad in Hunza is completely blocked for traffic... business between Pakistan and China is suspended for days owing to the blockade,” local trader Javaid Hussain told AFP.
“For the smooth running of business between Pakistan and China, the government should take steps to end the power crisis in the region.”
Pressure on the electricity grid increases during peak winter and summer seasons, leading to planned load-shedding as the government grapples with an energy supply crisis, exacerbated by political instability and economic stagnation.
Owing to its remoteness, Gilgit-Baltistan is not connected to the national grid and fails to generate enough power from dozens of hydro plants while thermal plants have proven costly.
Kamal Khan, a senior government official in the region, told AFP by phone that negotiations were ongoing with the protesters, who have demanded that under-construction power projects be expedited and thermal generator plants activated.
“Their demands are genuine and we agreed to fulfil all of their demands except the running of thermal generators... because they are very expensive,” he said.
Public protests against rising electricity prices and load-shedding have increased over the years in the country.
Meanwhile, prices have soared to more than double their 2021 rate as the government attempts to comply with demands from the International Monetary Fund to raise revenue.

Topics: Gilgit Baltistan protest Gilgit-Baltistan region

Pakistan police arrest man for killing citizen for Umrah tickets

Pakistan police arrest man for killing citizen for Umrah tickets
Updated 07 January 2025
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Pakistan police arrest man for killing citizen for Umrah tickets

Pakistan police arrest man for killing citizen for Umrah tickets
  • The shooter was hired by his neighbor to kill his brother-in-law in Lahore last week over a property dispute, police say
  • The suspect already has a criminal record and is a proclaimed offender in a kidnapping and sexual assault case in Sheikhupura
Updated 07 January 2025
NAIMAT KHAN

KARACHI: Police have arrested a man for killing a citizen in the eastern Pakistani city of Lahore last week in return for two Umrah tickets and a motorbike, a senior police officer said on Tuesday.
The suspect, Hafiz Usman, was hired by his neighbor, Imtiaz, to kill Muhammad Riaz, Imtiaz’s brother-in-law, according to Deputy Superintendent of Police (DSP) Amir Malik.
Imtiaz had a property dispute with his wife and brother-in-law and he lured Usman into killing Riaz.
“Exploiting Usman’s religious inclinations, Imtiaz offered to send him on an Umrah pilgrimage instead of paying him in cash for committing the murder,” DSP Malik told Arab News.
“As part of the deal, the shooter was supposed to get two Umrah tickets and a motorcycle. Motivated by this offer, Usman killed Muhammad Riaz on January 1.”
Imtiaz had transferred a house to his wife’s name, who had refused to return the property after a domestic disagreement and sought her brother Riaz’s counsel. The disagreement escalated and Imtiaz’s wife left him to stay at her brother’s house, according to the police officer.
Usman already has a criminal record and is a proclaimed offender in a kidnapping and sexual assault case in the Sheikhupura district.
DSP Malik said they managed to arrest the suspect with the help of surveillance footage from Lahore Safe City Project cameras and call data records.
“Efforts are underway to arrest Imtiaz and any other suspects,” he added.
In Nov. last year, police arrested a woman who had stolen 20 tolas of gold, worth Rs5.6 million ($20,250), from her neighbor’s home in the southern port city of Karachi and had gone to perform Umrah pilgrimage, according to local media.
The police later arrested the woman and recovered three tolas of gold and Rs1.5 million ($5,363).

Topics: Lahore police

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