Top Pakistani ministers visit border ahead of anniversary of India stripping Kashmir’s autonomy 

Special adviser to Prime Minister Imran Khan on national security, Moeed Yusuf, Defense Minister Pervez Khattak and Foreign Minister Shah Mahmood Qureshi visit the Line of Control in Kashmir on August 3, 2020. (Photo courtesy: PID)
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Updated 03 August 2020
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Top Pakistani ministers visit border ahead of anniversary of India stripping Kashmir’s autonomy 

  • Last year on August 5, Indian Prime Minister revoked the special status of Jammu and Kashmir
  • Pakistan has announced it will observe 'Yaum-e-Istehsal' or Day of Exploitation on August 5 

ISLAMABAD: The Pakistan foreign minister, defence minister and national security advisor on Monday visited the Line of Control, the de facto border that separates the parts of the disputed Kashmir valley governed by Pakistan and India, ahead of the one year anniversary of India stripping the region of its autonomy.

On August 5, 2019, Indian Prime Minister Narendra Modi split the state of Jammu and Kashmir into two federally controlled territories and took away its special privileges. New Delhi troops flooded into the Muslim-majority Kashmir valley, where insurgents have fought since the 1990s. India detained thousands, imposed harsh movement restrictions and forced a communications blackout.

Many of those measures have since been eased, but the internet remains throttled and a subsequent COVID-19 lockdown - India has the world’s third-highest coronavirus infections and rising fast - has forced millions of Kashmiris to stay in their homes for 12 months.

“We are going there [to the Line of Control] to show solidarity with the oppressed Kashmiris,” foreign minister Shah Mahmood Qureshi told reporters before his departure for Chirikot sector in Azad Kashmir, the part of the Himalayan valley that Pakistan rules. “We want to assure the Kashmiris at the LoC that the Pakistani nation is with them.”

Last week, Pakistan announced it would observe 'Yaum-e-Istehsal', or Day of Exploitation, on August 5 to show solidarity with the people of Indian-administered Kashmir. Prime Minister Imran Khan is expected to visit Muzaffarabad on that day and address the Azad Jammu and Kashmir Assembly.

“We need to jointly deliver a message to the Kashmiris that we will not fail them,” Qureshi had said at a press conference, announcing the day of solidarity. “My Kashmiri brothers and sisters we can feel your difficulty, we realise the oppression that you have endured. But, remember you are not alone. Every Pakistani is standing by your side and is raising voice for your cause.” 


Pakistan plans broader privatization push, eyes power utilities this year

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Pakistan plans broader privatization push, eyes power utilities this year

  • Considerably high losses, inefficiencies and mounting subsidies in power sector have dented Pakistan’s public finances
  • Finance Minister Muhammad Aurangzeb says 26 state-owned entities have been handed over to Privatization Commission

ISLAMABAD: Pakistan is widening a sweeping privatization program following the sale of its national airline last year, with power distributors next in line and more state companies to be handed to the Privatization Commission, the finance minister said on Monday.

Pakistan’s government successfully divested a 75 percent stake in the Pakistan International Airlines (PIA) in December last year. The move was part of Islamabad’s broader privatization program, which aims to reduce fiscal losses inflicted by loss-making state-owned enterprises (SOEs) by either privatizing or restructuring them.

Pakistani officials have said the Privatization Commission plans to divest the country’s electricity distribution companies in two batches. The first phase will include the Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company, followed by Hyderabad Electric Supply Company and Sukkur Electric Power Company in the second batch. Considerably high losses, inefficiencies and mounting subsidies in the power sector have dented Pakistan’s public finances over the years, making it a central focus of Islamabad’s reform agenda.

Speaking at a news conference about Pakistan’s privatization program, Finance Minister Muhammad Aurangzeb said there are five power distribution companies to be privatized this year, out of which the sell-side advisers for three are Alvarez & Marsel. He said the Turkish Investment Bank has been entrusted with the task of being the sell-side advisers for the other two companies. 

“Overall, 26 SOEs have been handed over to the Privatization Commission,” Aurangzeb told reporters. “This decision is first made in the Cabinet Committee on SOEs, it then goes to the Cabinet Committee on Privatization, and then its overall approval is given by the prime minister and the cabinet.”

Aurangzeb vowed the government will take the privatization process forward with the same level of transparency as it had exhibited during the PIA sale last year. 

“And this will be taken forward with a lot of speed because we will not stop at 26 SOEs,” the finance minister said. “We will also gradually hand over other state institutions to the Privatization Commission,” he added. 

Speaking further about SOEs and their performances over the years, the minister said losses from the state entities decreased by about Rs74 billion [$264.6 million] over the last three years.

He said SOEs had reported losses of Rs905 billion [$3.24 billion] in 2023, Rs851 billion [$3.04 billion] in 2024 and Rs832 billion [$2.98 billion] in 2025.

Pakistan’s privatization push comes at the back of its efforts to ensure sustainable economic progress after a prolonged macroeconomic crisis that drained its foreign exchange reserves and triggered a balance of payments crisis.