Imran Khan’s vows on economy ‘rhetoric, not reality,’ say economists

Imran Khan. (AP)
Updated 20 August 2018
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Imran Khan’s vows on economy ‘rhetoric, not reality,’ say economists

  • Economists say new PM needs a pragmatic approach to successfully revive the country’s ailing economy
  • Khan calls on public to support government’s crackdown on corruption

KARACHI: Economists and business leaders have accused Pakistan’s new Prime Minister Imran Khan of failing to deliver a pragmatic policy to tackle the country’s mounting economic woes.
Commenting on Khan’s first address as prime minister on Sunday, Dr. Ikram-ul-Haq, a senior economist, said: “He only touched on some of the areas that are worrying. The PTI as party in waiting has failed to produce a concrete policy and plans to handle the economic challenges.”
Khan described the country’s economic problems as the most pressing in its history, and promised to transform its Federal Board of Revenue (FBR) and introduce incentives to attract foreign investment.
Pakistan’s current account deficit has surged by more than 40 percent in the past year to $18 billion by the end of the last fiscal year.
“In the history of Pakistan, economic conditions have never been as bad as today,” the prime minister said.
However, Haq told Arab News: “So far, there is only a desire to revive the economy, but an actual agenda backed by pragmatic analysis and research is missing.
“From rhetoric to reality will be the challenge in the coming days.
“The monstrous debt, and huge fiscal and current account deficits are symptoms of an ailing economy,” Haq said.
Mohammed Sohail, CEO of Topline Securities, said: “Considering the external accounts problems, it would be challenging for a new economic team to put the PTI’s economic agenda to work.”
Khan has said that reforming the FBR, Pakistan’s tax collection authority, is his top priority, but has failed to offer details or an action plan.
“The FBR desperately needs reforms from top to bottom. Corruption is rampant and nobody is there to question,” Dr. Ashfaque Hassan, senior economist and former adviser to Ministry of Finance, told Arab News.
“The government will have to bring in someone from outside the FBR as chairman to achieve the reforms it mentioned.” 
Low export levels are a major reason for the growing trade deficit, with the prime minister announcing plans for a committee to address the deficiency.
“A committee was also formed by former prime minister Shahid Khaqan Abbasi. The current economic team is good and they need to increase exports by any means,” Ghazanfar Bilour, president of the Federation of Pakistan Chamber of Commerce and Industry, said.
“We have been constantly calling for return of our export refunds, which exporters desperately need, and relief to our export-based industry. Our input cost is too high and renders us uncompetitive on the international market.” 
Khan also said the government will encourage small businesses to ensure an economic uplift. The move was hailed by small traders and manufacturers, who called for concrete steps to be taken.
“The cottage industry is Pakistan is on the verge of collapse due to lack of cheap inputs such as electricity and other raw material,” Mahmood Hamid, president of the All Pakistan Organization of Small Traders and Cottage Industries, said. 
“If translated into reality, the PM’s plans will alleviate poverty from the country since this sector is one of the biggest jobs providers,” he said.
Khan is also leading an austerity drive to cut down expenditure. 
“Pakistan’s prime minister has 524 workers and 80 cars, of which 33 are bullet proof. The price of each car is more than 50 million Pakistan rupees ($500,000),” he said, promising to cut the number of employees and government vehicles.
Khan called for public support in his government’s fight against corruption. “You should stand by me. Either the country will survive or the corrupt people will,” he said.


Authorities face calls to declare a hate crime in Vermont shooting of 3 men of Palestinian descent

Updated 4 min 25 sec ago
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Authorities face calls to declare a hate crime in Vermont shooting of 3 men of Palestinian descent

BURLINGTON, USA: Vigils for three college students of Palestinian descent who were shot in Vermont over the weekend prompted calls for authorities to recognize the violence as a hate crime, and for unity among the Jewish and Arab communities.
Jason J. Eaton, 48, was arrested and held without bail on three counts of attempted murder. A not guilty plea was entered on his behalf on Monday.
The US Department of Justice, along with Vermont authorities, are still investigating whether Saturday’s gunfire on a Burlington street was a hate crime amid an increase in threats against Jewish, Muslim and Arab communities across the US since the Israel-Hamas war began, Attorney General Merrick Garland said. “There is understandable fear in communities across the country,” he said.
One vigil was held Monday night at Brown University in Rhode Island, where one of the victims, Hisham Awartani, is a student. Participants shouted at school president Christina Paxson as she addressed the crowd, demanding that Brown divest from investments that support Israel, according to media reports.
Robert Leikend, New England regional director for the American Jewish Committee, called for unity and finding common ground between the Jewish and Arab communities, saying in a statement Monday night that “hate should not beget more hate.”
He said a vigil after Eaton’s arrest “featured anti-Israel and antisemitic statements from some participants.” He didn’t name the location.
“The anger is understandable. The finger-pointing is not,” he said.
The vigil at Brown was closed to media. NBC News reported that Awartani said in a statement read by a professor that as much as he appreciates the love and support of the community, “I am but one casualty in a much wider conflict.”
The statement read, “Had I been shot in the West Bank, where I grew up, the medical services which saved my life here would have likely been withheld by the Israeli army. The soldier who would have shot me would go home and never be convicted.”
Awartani, Kinnan Abdalhamid and Tahseen Ali Ahmad, all age 20, were spending their Thanksgiving break in Burlington, and were out for a walk while visiting one of the victims’ relatives when they were confronted by a white man with a handgun, police said. The victims were speaking in a mix of English and Arabic and two of them were also wearing the black-and-white Palestinian keffiyeh scarves when they were shot, Police Chief Jon Murad said.
Abdalhamid told police he ran away, jumped a fence, and hid behind a house. He eventually knocked on another door, begging the woman who answered to call 911. At that point, he sat down, felt pain, and saw blood, according to an affidavit.
Two of the students were struck in their torsos, while one was hit in the lower body, Murad said. All three were being treated at the University of Vermont Medical Center, and one faces a long recovery because of a spinal injury, a family member said.
One of the students has been released from the hospital, according to media reports.
“I’ve been with them almost constantly since Saturday evening. I’ve been listening to them talk to one another and try to process the events, and I’m blown away by their resilience, by their good humor in the face of these difficult times,” said Rich Price, Awartani’s uncle.
The three have been friends since first grade at Ramallah Friends School, a private school in the West Bank, and all are “remarkable, distinguished students,” said Rania Ma’ayeh, head of the school.
Awartani is studying mathematics and archaeology at Brown; Abdalhamid is a pre-med student at Haverford College in Pennsylvania; and Ali Ahmad is studying mathematics and IT at Trinity College in Connecticut, Ma’ayeh said. Awartani and Abdalhamid are US citizens while Ali Ahmad is studying on a student visa, Ma’ayeh said.
Abdalhamid’s uncle Radi Tamimi, said at a news conference Monday his nephew grew up in the West Bank and “we always thought that that could be more of a risk in terms of his safety and sending him here would be a right decision.
“We feel somehow betrayed in that decision here and we’re just trying to come to terms with everything,” he said.
Eaton moved to Burlington over the summer from Syracuse, New York, and legally purchased the gun used in the shooting, Murad told reporters. According to a police affidavit, federal agents found the gun in Eaton’s apartment on Sunday. Eaton came to the door holding his hands, palms up, and told the officers he’d been waiting for them.
Eaton’s mother, Mary Reed, told the Daily Beast that Eaton, who had held various jobs as a farmer, ski instructor and researcher, had struggled with mental health issues, including depression. But she said he was in “such a good mood” when she saw him on Thanksgiving.
Syracuse police said Eaton’s name appeared in 37 police reports from 2007 until 2021, but never as a suspect. The cases ranged from domestic violence to larceny, and Eaton was listed as either a complainant or victim in 21 reports, according to Lt. Matthew Malinowski, the department’s public information officer.
Sarah George, state’s attorney, said that law enforcement officials do not yet have evidence to support a hate crime charge, which under Vermont law must be proven beyond a reasonable doubt. But, she said, “I do want to be clear that there is no question that this was a hateful act.”
Demonstrations have been widespread and tensions in the US have escalated as the death toll rises in the Israel-Hamas war. A fragile cease-fire between Israel and Hamas was set to continue for two more days past Monday as 11 more hostages were handed over to the Red Cross in Gaza under what was originally a four-day truce deal.

Ukraine says wife of spymaster Budanov was poisoned

Updated 28 November 2023
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Ukraine says wife of spymaster Budanov was poisoned

  • “Yes, I can confirm the information, unfortunately, it is true,” GUR spokesperson Andriy Yusov told Reuters
  • The 37-year-old has himself been the target of several attempts on his life, including a botched car bombing

KYIV: The wife of Ukraine’s military spy chief has been poisoned with heavy metals and is undergoing treatment in a hospital, a spokesperson for the agency said on Tuesday.
Marianna Budanova is the wife of Kyrylo Budanov, who heads Ukrainian military intelligence agency GUR, which has been prominently involved in clandestine operations against Russian forces since Russia’s February 2022 invasion of Ukraine.
“Yes, I can confirm the information, unfortunately, it is true,” GUR spokesperson Andriy Yusov told Reuters, without clarifying when the poisoning took place.
The BBC’s Ukrainian service cited Yusov as saying that several GUR officials had also experienced milder symptoms of poisoning.
Budanov’s public profile has risen in Ukraine and the West, where he is portrayed as a behind-the-scenes mastermind of operations to strike back at Russia. In Russian media he is a hate figure.
The 37-year-old has himself been the target of several attempts on his life, including a botched car bombing.
If confirmed as deliberate, the purported poisoning of his wife would represent the most serious targeting of a high-profile Ukrainian leadership figure’s family member during the 21-month-long war.
The poisoning was first reported by Ukrainian media outlets.
One publication, Babel, cited an unidentified source who said Budanova had been in hospital, and was finishing a course of treatment for the effects of the poisoning.
Another outlet, Ukrainska Pravda, cited an unidentified source who said the poison was likely administered through food.
Moscow has previously blamed Ukrainian secret services for the murders of a pro-war Russian blogger and a pro-war journalist on Russian soil. Ukraine denies involvement in those deaths.
Separately, Russian media has reported that a court in Moscow had arrested Budanov in absentia in April on terrorism charges.


Ukraine says Russian shells hit private homes, four killed

Updated 28 November 2023
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Ukraine says Russian shells hit private homes, four killed

  • “A 63-year-old man was killed. Two women, aged 65 and 63, were injured,” Dnipropetrovsk region governor Serhiy Lysak said

KYIV: Russian shells struck a residential building and private houses on Tuesday, killing four and injuring at least five people, local Ukrainian officials said.
A five-story building was hit in the morning in the southern town of Nikopol, Dnipropetrovsk region governor Serhiy Lysak said.
“A 63-year-old man was killed. Two women, aged 65 and 63, were injured. There may be people under the rubble,” he said on Telegram messenger.
In a separate attack in the afternoon, Russian shelling destroyed at least five private houses in a northern settlement just on the border with Russia, Sumy regional prosecutors reported.
Two bodies have been recovered from the rubble, and a 7-year-old girl died in hospital after a car she was in came under fire, the prosecutors said on Telegram. Three people have been injured.
Russia has denied deliberately targeting civilians although many have been killed in its frequent air strikes.


Sri Lanka eyes Saudi investment to modernize tourism sector

Updated 28 November 2023
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Sri Lanka eyes Saudi investment to modernize tourism sector

  • Tourism is a key industry for Sri Lanka, accounting for 12 percent of GDP in 2019
  • Officials also discussed possibility of Saudia Airlines launching direct flight to Colombo

COLOMBO: Sri Lanka is looking for Saudi investment to modernize its tourism and other sectors, top officials in Colombo have said following an official visit of Saudi Economy and Planning Minister Faisal Al-Ibrahim. 

Al-Ibrahim was in the Sri Lankan capital on Monday, where he met President Ranil Wickremesinghe and Foreign Minister Ali Sabry to discuss ways to strengthen economic ties. 

“President Ranil Wickremesinghe … further highlighted that the tourism and agriculture sectors were areas open to greater investment, as the country is committed to modernizing these domains,” the presidential secretariat said in a statement. 

Tourism and agriculture are key industries for Sri Lanka, accounting for about 12 percent and 7 percent of its 2019 GDP respectively. The country has been working to revive its crisis-hit economy following a severe financial crisis that drove the country to bankruptcy last year. 

Al-Ibrahim said that he was honored to meet Wickremesinghe. 

“We discussed both countries’ ambitions and transformation journeys as well as strengthening our bilateral economic ties and trade and investment growth opportunities,” Al-Ibrahim wrote on X, the social media platform formerly known as Twitter. 

During Al-Ibrahim’s meeting with Sabry, the two officials discussed Saudi investment, as well as manpower and tourism cooperation, the foreign minister said.  

“We also discussed (ways) to improve the tourism traffic between the two countries and further strengthen people-to-people contact. We also discussed the possibility of Saudia Airlines commencing direct flights to Colombo,” Sabry told Arab News. 

“We decided to explore possibilities of Saudi investment in Sri Lanka and opportunities for the Sri Lankans for further skilled employment opportunities in Saudi Arabia in its planned construction boom,” he said, alluding to the Kingdom’s various megaprojects under Vision 2030.  

“All in all, we had a very productive discussion and agreed to have a clear plan to continue our cooperation.” 

Saudi Arabia and Sri Lanka have expanded ties in the past year. They agreed to broaden their political consultation following their first joint committee meeting in May and earlier this year launched a new employment scheme aimed at boosting Colombo’s manpower exports to the Kingdom.


Finland closes Russian border for 2 weeks to stop asylum seekers

Updated 28 November 2023
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Finland closes Russian border for 2 weeks to stop asylum seekers

  • Some 900 asylum seekers from nations including Kenya, Morocco, Pakistan, Somalia, Syria and Yemen have entered Finland from Russia in November

HELSINKI: Finland will close its entire border with Russia to travelers for the next two weeks in a bid to halt a flow of asylum seekers to the Nordic nation, the government said on Tuesday.
Finland last week shut all but one of its remaining border posts to travelers from Russia, keeping open only the northernmost crossing located in the Arctic. But this too would now close, allowing only goods transport, the government said.
Some 900 asylum seekers from nations including Kenya, Morocco, Pakistan, Somalia, Syria and Yemen have entered Finland from Russia in November, an increase from less than one per day previously, according to the Finnish Border Guard.
The decision means only freight traffic can pass between the two countries.