Police: Chinese national killed by son of Pakistani business partner

Policemen standing around the car used by Chen Zhu when an assailant opened fire, killing him and injuring his friend in Karachi on Feb. 5. (Photo by Dawn)
Updated 06 May 2018
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Police: Chinese national killed by son of Pakistani business partner

KARACHI: The managing director of a Chinese shipping company was killed by a contract killer hired by the son of his Pakistani partner, a police officer told Arab News on Sunday.

Chen Zhu, 45, was murdered in Neelum Colony near the Zamzama area in the upscale Defense Housing Authority neighborhood on Feb. 5, the officer said.
Police identified the deceased as the managing director of Cosco Saeed Karachi Shipping Private Ltd.
Superintendent Tauqeer Naeem said Chen and his friend Ye Fan were shopping in Neelum Colony when an assailant opened fire on them, killing Chen and injuring Ye.
On Saturday, police produced two individuals, Saqib Ahmed and Rehan Hashim, before a local court, saying they had killed the Chinese national. Police demanded the physical remand of the accused for further interrogation.
Raja Umar Khattab, a counterterrorism officer in Karachi, said Ahmed and Hashim were interrogated along with several other employees.
“They were making contradictory statements. When we probed them further, they confessed that they’d killed Chen,” Khattab told Arab News.
Ahmed, who was marketing director at the shipping company, is the son of Chen’s Pakistani partner Shakeel Ahmed, Khattab said.
When Chen came from Jakarta to become managing director, he found financial irregularities, prompting him to investigate the matter, police interrogators were told by the accused and other staff members.
Chen pointed out that Saqib’s job as marketing director violated the company rule forbidding the employment of two people from the same family. 
Chen fired Saqib, which led the latter to hire a contract killer. Police identified the killer from CCTV footage, but he is yet to be arrested.
The police officer said the murder was not an attempt to sabotage the China-Pakistan Economic Corridor (CPEC).
On May 5, the Counterterrorism Department (CTD) said it had foiled an attempt to target CPEC-related projects by arresting two alleged terrorists associated with a separatist Sindhi nationalist outfit.
CTD official Chaudhry Arif told Arab News that they had carried out attacks against Chinese nationals associated with a CPEC project in December 2016.


Pakistan cuts fuel prices at year-end amid push for economic reform

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Pakistan cuts fuel prices at year-end amid push for economic reform

  • Petrol price has been cut by Rs 10.28, diesel by Rs 8.57 per liter from Jan. 1
  • Relief comes as inflation eases but household purchasing power remains weak

KARACHI: Pakistan cut prices of petrol and high-speed diesel at the turn of the year, with a government notification on Wednesday announcing relief of up to Rs 10.28 per liter as Islamabad presses ahead with economic reforms following recent macroeconomic stabilization.

The price cuts come as inflation has eased in recent months after a prolonged slowdown, though households continue to complain of limited purchasing power following years of high prices, currency weakness and sluggish growth.

“The Government has revised the prices of the petroleum products based on recommendations of OGRA,” the Ministry of Energy said in a notification, referring to the Oil and Gas Regulatory Authority.

Under the revised rates, the price of high-speed diesel was cut by Rs 8.57 per liter to Rs 257.08, while petrol prices were reduced by Rs 10.28 per liter to Rs 253.17, effective from Jan. 1 for the next fortnight.

Fuel prices in Pakistan are reviewed every two weeks and are influenced by global oil market trends, currency movements and changes in domestic taxation. The pricing mechanism passes changes in import costs on to consumers, helping sustain the country’s fuel supply chain.

Petrol is primarily used for private transport, motorcycles, rickshaws and small vehicles, while diesel powers heavy transport used to move goods across the South Asian country.

While Pakistan has seen signs of macroeconomic stabilization, including a slowdown in inflation, many consumers say their purchasing power remains strained after years of economic stress.

Last year, the country was hit by devastating monsoon floods once again that damaged farmlands in the eastern province of Punjab — Pakistan’s breadbasket — pushing up food prices nationwide.