A day after his arrest, ex-PM Khan's party wins local government by-election in Pakistan's northwest

Activists of opposition party Pakistan Tehreek-e-Insaf (PTI) take part of anti-government rally demanding early election in Karachi on October 28, 2022. (AFP/File)
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Updated 07 August 2023
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A day after his arrest, ex-PM Khan's party wins local government by-election in Pakistan's northwest

  • Khan’s PTI candidate beats rival JUI-F [arty’s candidate by a lead of over 7,000 votes 
  • The ex-prime minister was arrested following his conviction on graft allegations on Saturday 

ISLAMABAD: A day after former Prime Minister Imran Khan was convicted and arrested in a case involving the sale of state gifts, his Pakistan Tehreek-e-Insaf (PTI) party managed to win a local government by-election in Pakistan’s northwestern Peshawar city by a huge margin. 

A local Islamabad court on Saturday sentenced Khan, who was ousted in a parliamentary no-trust vote last year, to three years imprisonment in the case, which has come to be popularly known as the Toshakhana (state repository) case. 

Polling for two vacant seats for the Tehsil chairman in Peshawar’s Mathra and Havelian Abbottabad was held in the northwestern Khyber Pakhtunkhwa (KP) province on Sunday from 8:00 a.m. to 5:00 p.m. PTI’s candidate Inamullah emerged as the victor on the Mathra Tehsil chairman seat, beating his rival Rafiullah of the Jamiat Ulema-e-Islam (Fazl) JUI-F by a lead of over 7,000 votes. 

“PTI’s sweeping victory at the Mathra Mayoral Election in Peshawar today only further solidifies the truth: the people of Pakistan stand with @ImranKhanPTI,” PTI’s Vice Chairman Shah Mahmood Qureshi wrote on Twitter. 

 

 

Critics say efforts to put Khan behind bars are politically motivated and have intensified ahead of elections due to be held later this year. Khan’s popularity and a large support base pose a threat to the ruling coalition and its backers in Pakistan’s powerful military that has held sway over the country’s politics since independence from Britain in 1947.

According to unofficial results by the returning officer (RO), Inamullah secured 20,333 votes while Rafiullah bagged 13,564 votes. Jamaat-e-Islami’s Iftikhar Ahmad got the third-highest votes, bagging 9,546 votes. 


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.