Economic uplift in focus as Pakistan prime minister addresses newly merged tribal belt

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Prime Minister Imran Khan meets with tribal elders in the Mohmand tribal district ahead of his public rally in the adjacent Bajaur tribal district on Friday. (Photo courtesy: PTI Media)
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Prime Minister Imran Khan is presented a turban upon his arrival in the Bajaur tribal district on Friday. Khan addressed a huge gathering in the area where he announced a number of development projects as well. (Photo courtesy: PTI Media)
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Prime Minister Imran Khan meets with tribal elders in the Mohmand tribal district ahead of his public rally in the adjacent Bajaur tribal district on Friday. (Photo courtesy: PTI Media)
Updated 16 March 2019
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Economic uplift in focus as Pakistan prime minister addresses newly merged tribal belt

  • Says time to compensate for the “unspeakable tragedy” suffered by the people of Pakistan’s long disenfranchised tribal regions
  • Says even ready to negotiate with Indian Prime Minister Narendra Modi for the benefit of Pakistan

PESHAWAR: Prime Minister Imran Khan said on Friday all four provinces of the country should give three percent of their share of the National Finance Commission award, a programme aimed at fixing financial imbalances among the centre and provinces, to the northwestern tribal belt, a region that has for decades suffered from a lack of national investment.
Last year, Pakistan’s parliament passed legislation to merge the country’s tribal regions along the Afghan border with Khyber Pakhtunkhwa (KP) province, a key step in ending the area’s colonial era governance system and giving equal rights and resources to its five million population.

Without provincial status, the tribals regions have remained backward and underdeveloped. Much of the area lacks clean water and has little to no health care, education, telecommunication and infrastructure facilities.

“Let me assure you that KP and Punjab will pay their due share [from the National Finance Commission Award] since [the ruling Pakistan Tehreek-e-Insaf party] is in power in both the provinces,” Prime Minister said in Bajaur at his first rally in the newly merged tribal areas. “But I want to tell Balochistan and Sindh that they should give a portion of their share as well to honour the sacrifices rendered by the tribal people for the country.”

The old system of colonial laws in the tribal regions denied basic legal rights to its people. Coupled with the lack of economic development, the regulations led to an enduring sense of neglect and disenfranchisement.

Due to their lawless, the tribal regions also became an easy haven for militants, gun runners and drug smugglers. The Pakistani military has carried out dozens of military operations to flush out militants in the last decade, causing mass internal displacement of tribal populations.

“Everyone knows that the tribal people faced unspeakable tragedies, and it is now time for them to see development [in their area],” he said. “Our government has approved Rs. 2 billion in loans for the tribal youth on zero markup and easy installments. The idea is to help these young people to establish their own businesses.”

Commenting on recent tensions with arch-rival India, Khan said Pakistan wanted peaceful coexistence with all its neighbours and had repeatedly asked New Delhi to come to the negotiating table and pushed to promote trade and commerce in the region.

Pakistan and India have fought three wars, two of them over the disputed Kashmir region that both administer in part but claim in full. Last month, the two countries almost went to war after India blamed Pakistan for a suicide attack in Indian-administered Kashmir in which at least 40 Indian troopers were killed.

“We want peace with all our neighbours because we want to move ahead in the world,” the prime minister said. “We don’t want war but no one should take that as our weakness. We want amicable resolution of the Kashmir issue since the entire world is watching how atrocities are perpetrated against the Kashmiri people,” Khan added.

“I’m ready to do anything for my country. I can even negotiate with [Indian Prime Minister] Narendra Modi for the benefit of Pakistan,” he said.

The prime minister also expressed optimism about ongoing talks between the US and Afghan Taliban to find a negotiated settlement to a 17-year-long war in Afghanistan.


79 foreign firms, including Middle Eastern investors, enter Pakistan in three years — SECP

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79 foreign firms, including Middle Eastern investors, enter Pakistan in three years — SECP

  • Foreign firms invested about $145 million across energy, logistics, IT and agriculture
  • Pakistani regulator says 19 companies exited market over the same three-year period

KARACHI: Middle Eastern energy and logistics companies including Saudi Aramco, Wafi Energy and DP World expanded their footprint in Pakistan, as 79 new foreign firms commenced operations in the country over the past three years, according to an official statement released on Tuesday.

The figures come as Pakistan seeks to rebuild investor confidence and attract foreign capital to shore up its economy after years of financial turbulence that saw foreign currency reserves shrink, the rupee weaken sharply and inflation surge. Islamabad has been pursuing structural reforms and courting overseas partners to stabilize growth and ease external financing pressures.

“79 new foreign companies commenced operations in Pakistan over the past three years, while foreign firms invested Rs 40.7 billion [$145 million] in key sectors during the same period,” the Securities and Exchange of Pakistan (SECP) said in a statement.

“A total of 61 foreign companies also carried out shareholding transactions involving local entities,” it added. “Of the 61 shareholding transactions, 29 involved transfers to other foreign companies, four to foreign individual investors, 20 to local individual investors, and eight to local corporate entities.”

According to the regulator, several transactions were linked to global corporate restructuring among multinational companies. Saudi Arabia’s Wafi Energy acquired Shell Pakistan’s operations, while Dubai-based PTA Global Holdings secured a majority stake in Lotte Chemical Pakistan.

Saudi Aramco purchased a 40 percent equity stake in Gas & Oil Pakistan Limited, and Switzerland’s Gunvor Group alongside Total Parco Limited acquired equal stakes in TotalEnergies Pakistan.

In logistics, UAE-based DP World entered into a joint venture with Pakistan’s National Logistics Corporation, while investments in the technology and telecommunications sectors included acquisitions and stake purchases involving regional and international firms.

The statement said 1,157 foreign companies are currently registered and operational in Pakistan, with 19 exits recorded over the past three years.