PM Khan asks Hafeez Shaikh to continue as finance minister after Senate defeat

This file photo shows Pakistan's finance minister Abdul Hafeez Sheikh, left, during his meeting with Prime Minister Imran Khan in Islamabad on May 20, 2020. (Photo courtesy: Imran Khan/Facebook)
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Updated 06 March 2021
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PM Khan asks Hafeez Shaikh to continue as finance minister after Senate defeat

  • The prime minister expresses his faith in Shaikh's professional abilities while praising him for shoring up the national economy
  • Shaikh can work in his current capacity until June, though the government may try again to get him elected to parliament

ISLAMABAD: Prime Minister Imran Khan has told his close aide Abdul Hafeez Shaikh to continue working as finance minister after Shaikh lost a general seat from the federal capital to a joint opposition candidate in the recent Senate elections, local media reported on Saturday.
In a one-on-one meeting after securing the vote of confidence from parliament earlier in the day, Khan said he had complete faith in Shaikh's professional abilities and applauded him for shoring up the ailing national economy.
The ruling Pakistan Tehreek-e-Insaf (PTI) administration relied heavily on its finance minister to bring down the current account deficit and keep the financial system on track during the coronavirus pandemic.
After the Islamabad High Court ruled in a case in December that no special assistant or advisor to prime minister could chair or participate in cabinet committee meetings, Khan exercised his constitutional authority to elevate Shaikh as a federal minister for a period of six months.
According to Article 91 (9) of the Constitution, the finance minister cannot be reappointed to the same position as an unelected individual, and his defeat in the Senate election implies he may only be able to serve in his current capacity until June.
According to The Express Tribune, however, the government is likely to make one more effort to get him elected to the upper house of parliament by de-seating an opposition member, Ishaq Dar, who was elected to the Senate from Punjab in 2018 but did not take oath to the office.


PM Sharif asks envoy to help Pakistani students in Bishkek amid mob violence

Updated 6 sec ago
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PM Sharif asks envoy to help Pakistani students in Bishkek amid mob violence

  • There have been a number of incidents of mob violence against foreign students in Bishkek since last evening, Pakistan embassy says
  • The matter boiled over due to sharing online of videos of a fight between Kyrgyz students and medical students from Egypt on May 13

ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday expressed his concern over mob violence around student hostels in the Kyrgyz capital of Bishkek and asked the Pakistani ambassador to help local students in the city.
There have been a number of incidents of mob violence against foreign students in Bishkek since last evening. The matter boiled over due to sharing online of videos of a fight between Kyrgyz students and medical students from Egypt on May 13, the Pakistani embassy said on Facebook, citing the Kyrgyz press. 
So far, a few hostels of medical universities in Bishkek and private residences of international students, including Pakistanis, have been attacked. The hostels are inhabited by students from India, Pakistan and Bangladesh, and there have been reports of minor injuries to a number of students from Pakistan.
“Deeply concerned over the situation of Pakistani students in Bishkek, Kyrgyzstan. I have directed Pakistan’s Ambassador to provide all necessary help and assistance,” Sharif said on X. “My office is also in touch with the Embassy and constantly monitoring the situation.”
Mumtaz Zahra Baloch, a spokeswoman for the Pakistani foreign office, said the Pakistani embassy had responded to hundreds of queries by students and their families. She said Pakistan’s envoy and his team were available on the emergency contact numbers: +996555554476 and +996507567667.
“In case the numbers do not connect because of phone traffic, please text/WhatsApp,” Baloch said on X.
The Pakistani embassy earlier said the violence appeared to be directed against all foreign students and not specific to Pakistanis, adding that it had been able to contact over 250 students and their family members in Pakistan.
It said this was an evolving situation and they would inform the Pakistani community in Kyrgyzstan and their relatives in Pakistan about any further developments.


Pakistan posts highest current account surplus in 11 months, sees 95% improvement

Updated 18 May 2024
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Pakistan posts highest current account surplus in 11 months, sees 95% improvement

  • Experts attribute improved current account situation to growth in remittances and increase in exports
  • Pakistan’s IT exports also shot up in April, with local firms branching out in the Middle Eastern market

KARACHI: Pakistan recorded its highest current account surplus in April after a span of nine months, driven by increased remittances and exports that collectively improved the current account situation by 95 percent in the ongoing fiscal year, according to data released by the central bank on Friday.
The country posted a monthly current account surplus of $491 million last month, the highest since June 2023. During the first 10 months of the current fiscal year (10MFY24), the country’s deficit decreased by 95 percent on a year-on-year basis to $202 million. This was in marked contrast to a deficit of $3.92 billion recorded in the corresponding period last year, as per the data released by the State Bank of Pakistan (SBP).
“Pakistan’s current account improvement was mainly driven by an increase in remittances, month-on-month export growth, along with a decline in imports,” Tahir Abbas, head of research at Arif Habib Limited, told Arab News.
Pakistan received $2.8 billion of workers’ remittances in April 2024, which is 27.9 percent higher on an annual basis. The total inflow of remittance stood at $23.8 billion in the 10-month period of FY24.
“The remittance inflows are mainly due to the upcoming Eid Al-Adha,” Abbas said, referring to a Muslim festivity that follows the Hajj pilgrimage in Makkah. “This is the major contributor to the overall current account improvement.”
The central bank statistics show the monthly information technology (IT) exports from Pakistan increased by 62 percent on an annual and one percent on a monthly basis in the month of April to $310 million.
“This is the highest ever export number in a single month, with the previous highest of $306 million recorded in March 2024,” Topline Securities, a Karachi-based brokerage firm, said in its report issued on Friday.
The monthly IT exports in April are higher than the last 12-month average of $245 million, the brokerage firm added.
The growth in IT exports is due to the expansion of local companies in the Gulf market, especially Saudi Arabia, a relaxation of the permissible retention limit by the SBP from 35 percent to 50 percent in the exporters’ specialized foreign currency accounts, allowing them greater control over their earnings, and stability in the national currency, according to Topline Security.
All of these factors have encouraged IT exporters to bring a higher portion of profits back to the country, it added.
The cumulative IT exports in the first 10 months of the fiscal year increased by 21 percent on an annual basis, reaching $2.59 billion, compared to $2.14 billion recorded in the corresponding period last year. The net IT export number in April is also higher than last 12-month average of $214 million.
The central bank released data on foreign direct investment (FDI) as well that hit $359 million, up 172 percent on a yearly and 39 percent on a monthly basis in April.
This is the highest monthly inflow in nearly four and a half years. The major FDI inflow of $177 million came from China. During the first 10-month period of the ongoing fiscal, the net FDI inflow increased by eight percent on an annual basis to $1.45 billion compared to an inflow of $1.35 million in the corresponding period last year.


Punjab administration orders shortened school hours due to looming heatwaves

Updated 17 May 2024
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Punjab administration orders shortened school hours due to looming heatwaves

  • A notification orders schools to ensure all fans are in working condition and water coolers available
  • Provincial government has also announced summer vacation for all schools from June 1 to August 14

ISLAMABAD: The provincial administration of Punjab announced on Friday it would cut short the usual timings of all public and private schools for the rest of the month amid rising temperatures and warnings from the Meteorological Department of impending heatwaves in the coming weeks.

Just a day earlier, the Met Department warned that a major heatwave was set to engulf much of the country next week, with daytime temperatures expected to rise four to six degrees Celsius above the average.

It also predicted dust storms and heavy rains in various parts of Pakistan, including Punjab.

“In the wake of severe weather, it is hereby notified that following School timings shall be observed in all Public and Private Schools in the Province of Punjab with effect from 18th May to 31st May, 2024,” said a notification circulated by the provincial education department, showing 7 AM as the starting time and 11:30 AM as the finishing hour.

It instructed the schools to end classes at 10:30 AM on Friday and Saturday.

The notification also instructed the school authorities to ensure that all fans were in working condition, water coolers were available and no student was made to sit in uncovered and open spaces like lawns in summer season.

Another notification also announced that all the schools in the province will remain closed from June 1 to August 14 for summer vacation.

“All schools in the province shall reopen with effect from Thursday 15th August, 2024,” it added.

In recent years, Pakistan has experienced extreme weather patterns, including unprecedented rains, flash floods, droughts and heatwaves.

Experts attribute these erratic weather patterns to climate change, placing Pakistan among the ten countries most vulnerable to its impacts.


Pakistan’s army chief vows full support for hockey team after silver medal win in Malaysia

Updated 17 May 2024
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Pakistan’s army chief vows full support for hockey team after silver medal win in Malaysia

  • The national hockey team reached the Sultan Azlan Shah Cup final for the first time in 13 years
  • The Pakistani players were also hosted and praised by Prime Minister Shehbaz Sharif this week

ISLAMABAD: Pakistan’s army chief General Asim Munir vowed on Friday to fully support the national hockey team while meeting with its players and applauding them for winning a silver medal in the recent Sultan Azlan Shah Cup in Malaysia.

A day earlier, Prime Minister Shehbaz Sharif also hosted the Green Shirts in Islamabad in recognition of their outstanding performance at the tournament, where they reached the finals for the first time in 13 years.

Sharif praised the team’s performance and reiterated his administration’s commitment to promoting sports, particularly hockey, in the country.

The army chief also praised the squad during the interaction with its players in Rawalpindi.

“The hockey team has brought immense pride to the nation, and we are committed to providing them with comprehensive support to ensure their continued success,” he was quoted as saying in a statement released by the military’s media wing, ISPR.

He also extended his best wishes to the players for their future endeavors.

Cricket has generally overshadowed other sports in Pakistan, including hockey, in terms of popularity and media attention.

This is despite the fact that hockey is the country’s national sport and has a rich history of international success. Yet, it has not received the same level of sustained interest or investment as cricket, with the disparity impacting its development and visibility within the country.


England captain Buttler buoyed by return of ‘superstar’ Archer ahead of Pakistan series

Updated 17 May 2024
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England captain Buttler buoyed by return of ‘superstar’ Archer ahead of Pakistan series

  • Injuries have blighted Jofra Archer and he has not played top-level cricket for the past year
  • Buttler says he relies on Archer who has a trick up his sleeve in every cricket tournament

LONDON: England white-ball captain Jos Buttler is glad to see “proper superstar” Jofra Archer back in action following the fast bowler’s wicket-taking return to action for Sussex’s 2nd XI.

Injuries have blighted Archer’s international career and he has not played top-level cricket for the past year.

England, however, have recalled Archer for the defense of their T20 World Cup title in the United States and the West Indies next month, with the paceman also selected for the upcoming warm-up series against Pakistan.

Archer continued his build-up to the four-game series against Pakistan by turning out for Sussex’s second string on Friday.

He was parachuted into the match on day four, taking the new ball and returning figures of 1-11 in six sharp overs in Kent’s second innings at Beckenham.

The 29-year-old, previously playing domestic cricket in his native Barbados, hit home opener Ekansh Singh on the helmet and then had him caught in the slips.

Archer will join the England squad in Leeds ahead of the first Twenty20 international against Pakistan at Headingley on Wednesday.

Buttler, who returned early from the Indian Premier League to oversee England’s World Cup preparations, told Britain’s Press Association news agency: “It’s a huge encouragement for him to be back and see him ready to play.

“Everyone knows what he is capable of and the attitude he possesses. As a captain he is someone you can always turn to in a game because he always has a trick up his sleeve.

“It’s great to be able to call on him but it’s important to manage expectations. He has been out of it for a while now so we will need to look after him and realize that it might just take him a little while to be the Jofra of 2019.”

Dynamic batsman Buttler added: “He is a proper superstar but we do have to be smart with him. It’s a jump in intensity from what he’s doing now to international cricket and you can’t really replicate it.”