ISLAMABAD: Pakistan’s plans to send its first astronaut into space by 2022 have been placed on temporary hold, Science and Technology Minister, Fawad Chaudhry, told Arab News on Saturday.
Currently, Pakistan has four remote sensing and communications satellites in total– two ground stations and two in orbit. In July 2018, Pakistan launched two satellites with the help of China, and the same year, Chaudhry announced Pakistan was planning on sending its first astronaut on a manned mission by 2022. A contract was subsequently inked between Pakistan’s Space and Upper Atmosphere Research Commission (Suparco) and a Chinese company.
“I think we will not be able to pursue the schedule [of sending astronaut to space] due to COVID-19 and it may be delayed by a year,” Chaudhry told Arab News in an exclusive interview, and added the candidate selection process in collaboration with China had also been delayed.
“The selection process of [choosing a suitable] astronaut was scheduled to begin this year but unfortunately due to the pandemic, the selection process has to be postponed... it was to be initiated with the partnership with China which itself has been badly affected by the coronavirus,” he said.
The science minister’s revelation came just hours before the US attempts to make history with the launch of a newly designed spacecraft by SpaceX and NASA on Saturday.
In March 2019, Suparco disclosed to Arab News that it was exploring options to collaborate with the UAE. The spokesman of Pakistan’s national space agency said huge funds and special skills were required to lift off Pakistan’s ambitious space program and that collaborating would help both the Emirates and Pakistan in space-related activities.
But no such agreement has yet been reached between military-run Suparco and the UAE.
“No agreement has been signed yet with the UAE,” Chaudhry conceded but said Pakistan wanted to work closely with the country on its space program.
“I have requested the Prime Minister’s office to bring Suparco under the fold of the ministry of science and technology so we can pursue that diligently. I hope that decision of bringing it back to the civil side will help improve the collaboration in this direction much more effectively,” Chaudhry added.
Detailing his foreign outreach plans to address Pakistan’s space challenges, he said: “We have already very close cooperation with China in the space program and I think we would like to strengthen this relationship further. But we would also like to strengthen our relationship with NASA, UAE, and other countries including private companies.”
Chaudhry stressed: “I would also like to encourage Pakistan’s private sector to come and invest in satellites because the private sector can contribute a lot, especially in the field of various types of space satellite monitoring applications which have a huge opportunity.”
“It’s a very expensive game, I would say,” he continued. “It needs loads of funding but right now we are focusing on sending solar satellites and the funding for necessary projects is available.”
He said Pakistan was not in a space race when asked whether he was concerned India would beat Pakistan in reaching the stars. Neighboring rival India is aiming to consign its own astronauts in 2022 for the country’s first human mission to space.
“We are not competing with anyone in the space program,” Chaudhry said.
Pakistan deferring plans to send astronaut to space by 2022 — Fawad Chaudhry
https://arab.news/n4tzq
Pakistan deferring plans to send astronaut to space by 2022 — Fawad Chaudhry
- Journey to space plans on hold due to coronavirus fallout and lack of funding
- No agreement signed with UAE but collaboration on the cards for space program
Pakistan stocks tumble 2.3% as Middle East conflict rattles investors
- KSE-100 posts weekly loss of 6.3% as geopolitical tensions trigger sell-off
- Foreign investors dump $25.5 million in equities amid global energy supply fears
ISLAMABAD: Pakistan’s benchmark stock index fell 2.3% on Friday as investors sold shares ahead of the weekend amid growing fears that the escalating conflict involving Iran could disrupt global energy supplies and trade routes.
The KSE-100 index closed down 3,714.57 points at 157,496.10, after touching an intraday high of 161,435.83 and a low of 157,072.64, according to the Pakistan Stock Exchange (PSX) data. Trading volume stood at about 196 million shares with a value of roughly Rs18.8 billion ($67 million).
The decline capped a volatile week for Pakistani equities, with the benchmark index falling 6.3% week-on-week as geopolitical tensions between Iran, the United States and Israel unsettled investors and triggered risk-off sentiment across regional markets.
“KSE-100 Index declined by -6.3% on a week-on-week basis, and this decline can be attributed to the Middle East conflict (US-Israel vs. Iran), where investors sold their positions in the backdrop of increasing risk to global energy supply and trade routes,” brokerage house Topline Securities said in its weekly review.
Topline said foreign corporate investors were among the largest sellers during the week, offloading equities worth $25.5 million, while mutual funds sold shares worth $54.5 million amid investor redemptions.
Banks, insurance companies and local corporates partly cushioned the sell-off, buying equities worth $36 million, $15.7 million and $14.3 million respectively during the week, according to the review.
Other economic developments during the week included Pakistan’s consumer price inflation for February rising to 6.98% from 5.80% in January and the country’s trade deficit widening to $2.98 billion for the month, up 8% from the previous month and 25% year-on-year.
Average daily trading volumes during the week stood at around 658 million shares, with average daily value reaching about Rs36.2 billion ($130 million), Topline said.
