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Pakistani PM announces old faces as key ministers in his new cabinet

(L-R) The collage of image created on March 12, 2024, shows Pakistan's new federal ministers Khawaja Asif, Ishaq Dar, Ahsan Iqbal and Azam Nazeer Tarar. (National Assembly and AFP)
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Updated 12 March 2024
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Pakistani PM announces old faces as key ministers in his new cabinet

  • PM Sharif appoints four-time former finance minister Ishaq Dar his foreign minister 
  • Reappoints Khawaja Asif to defense, Ahsan Iqbal to planning, Azam Nazeer Tarar to law
Updated 12 March 2024
SAIMA SHABBIR

ISLAMABAD: The Pakistani Prime Minister’s Office on Tuesday notified the list of new federal ministers, bringing in few new faces as premier Shehbaz Sharif seeks continuity in pushing through economic reforms under the watchful eye of international lenders.

Sharif appointed four-time former finance minister Ishaq Dar his foreign minister and reappointed Khawaja Asif to defense, Ahsan Iqbal to planning and Azam Nazeer Tarar to law. The only woman in the cabinet is Shaza Fatima Khawaja, who has been appointed minister for IT and telecommunications. 

Sharif, who was elected to his second term as prime minister last week, was at the helm when Pakistan and the IMF produced an $3 billion bailout loan accord in July. Now, he has appointed Muhammad Aurangzeb, the CEO of Pakistan’s largest bank, HBL, to look after the finance ministry, as the government’s first order of business will be negotiating a new IMF deal when the current one expires this month. 

“In terms of rule 3(4) of the Rules of Business, 1973, the Prime Minister has been pleased to allocate the portfolio / business of the Government to the Federal Ministers, as follows,” the prime minister’s office said in a notification, releasing the names of 18 new ministers. 

Dar, who will now take care of the foreign ministry, told Reuters he wanted to ramped up the role for economics in the nation’s diplomacy as the country tries to secure another International Monetary Fund (IMF) deal and shore up external financing from foreign capitals.

“Economic diplomacy is the need of the hour,” he said.

Dar will be assisted by Syed Tariq Fatemi, a Sharif family loyalist and former ambassador who served as Special Assistant on Foreign Affairs to Sharif in his last government and will take over the portfolio again. He was also an adviser on foreign affairs during the last government of Nawaz Sharif, the elder brother of the current PM. 

Fatemi has previously served as Pakistan’s ambassador to the United States and the European Union. He was also federal secretary, the highest rank in the country’s civil service.

“NO WASTE OF TIME”

Growing economic challenges will dominate the new government’s agenda. 

Aurangzeb, the new finance minister who has never held public office before, told Pakistan’s Dawn newspaper his primary focus would be to implement much-needed economic reforms and get a new IMF deal.

“No debates, no waste of time — just a steadfast commitment to implementation,” he said soon after taking oath. 

Inflation touched a high of 38 percent with record depreciation of the rupee currency under Sharif’s last government from April 2022 to August 2023, mainly due to structural reforms necessitated by the IMF bailout deal in 2023. Pakistan continues to be enmeshed in economic crisis with inflation remaining high, hovering around 28.8 percent, and economic growth slowing to around 2 percent.

Sharif’s first order of business, as he admitted on Monday in his first cabinet meeting, was taking tough decisions to steer the country out of financial crisis, including bagging a new bailout deal from the IMF. 

A new program will mean committing to steps needed to stay on a narrow path to recovery, but which will limit policy options to provide relief to a deeply frustrated population and cater to industries that are looking for government support to spur growth.

Ahsan Iqbal, a senior member of Sharif’s Pakistan Muslim League-Nawaz (PML-N) who returns to the planning ministry, said “job creation through entrepreneurial ecosystem with the support of new and modern infrastructure” would be his priority as a federal minister. 

An “economic turnaround” was vital through increased exports since Pakistan mostly relied on loans while preparing its budgets, he added. 

The information ministry went to an emerging PML-N leader, Attaullah Tarar, who said he would promote “positive and constructive journalism,” state-run APP reported. 

Other Sharif loyalist and senior PML-N members appointed federal ministers include Dr. Musadik Masood Malik, Rana Tanveer Hussain, Amir Muqam, Riaz Hussain Pirzada and Qaiser Ahmed Sheikh. 

The interior ministry has gone to media mogul Syed Mohsin Raza Naqvi, a former chief minister of Punjab and chairman of the Pakistan Cricket Board. Prior to being appointed CM from Jan 2023 to Feb 2024, he had no political experience but is widely believed to be close to Pakistani President Asif Ali Zardari and Army Chief Gen. Asim Munir. 

During Naqvi’s term as CM, opposition parties such as the Pakistan Tehreek-e-Insaf of jailed ex-PM Imran Khan complained of a state-backed crackdown against the party in Punjab, which the administration denies. His appointment as interior minister has raised widespread fears that the crackdown against political rivals may continue under the new government.

Pakistan’s general elections last month resulted in a split mandate, prompting Sharif’s Pakistan Muslim League-Nawaz (PML-N) and President Asif Ali Zardari’s Pakistan Peoples Party (PPP) to form a coalition government. The PPP has, however, declined to join the federal cabinet.

Topics: Pakistan PM Shehbaz Sharif Arab News Pakistan

Pakistan to privatize all state-owned entities except ‘strategically important’ ones— PM Sharif

Updated 9 sec ago
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Pakistan to privatize all state-owned entities except ‘strategically important’ ones— PM Sharif

  • Finance Minister Aurangzeb last week said there is “no such thing as strategic” public entities
  • PM Sharif urges privatization process of state-owned enterprises to be broadcast live for transparency
Updated 9 sec ago
KHURSHID AHMED   

KARACHI: Prime Minister Shehbaz Sharif announced on Tuesday that his government would privatize all state-owned enterprises (SOEs) except for those deemed “strategically important” or essential ones, state-owned media reported, as Islamabad looks to overhaul its public entities to improve their performance. 

The announcement is in direct conflict with Finance Minister Muhammad Aurangzeb’s statement from Sunday in which he said that all public entities would be handed over to the private sector. The minister had said he and Deputy Prime Minister Ishaq Dar were on the same page that “there is no such thing as a strategic SOE.” 

Former finance minister Dar had chaired a meeting of the Cabinet Committee on Privatization on May 10 in which he had said the government’s business would only be limited to essential or strategic SOEs. Dar said while priority would be accorded to loss-making entities, even SOEs who were earning profits would be considered for privatization. 

PM Sharif chaired a high-level meeting on matters related to the Ministry of Privatization and Privatization Commission on Tuesday, the state-run Radio Pakistan reported. 

“Prime Minister Shehbaz Sharif has announced to privatize all government-owned enterprises with the exception of strategically important state-owned enterprises,” Radio Pakistan said. “The Prime Minister directed all federal ministries to take necessary action in this regard and cooperate with the Privatization Commission.”

The report did not specify which SOEs he deemed strategically important ones. 

Pakistan agreed to overhaul its public entities under a $3 billion financial bailout agreement it signed with the International Monetary Fund (IMF) last year, a deal that helped it avert a sovereign debt default in 2023. The IMF has said Pakistan’s SOEs whose losses are burning a hole in government finances would need stronger governance. Pakistan is currently negotiating with the international lender for a larger, longer program for which it must implement an ambitious reforms agenda, including the privatization of debt-ridden SOEs.

Among the main entities Pakistan is pushing to privatize is its national flag carrier, the Pakistan International Airlines (PIA). The government is putting on the block a stake ranging from 51 percent to 100 percent.

Sharif instructed authorities to ensure transparency in the privatization process of all state-owned entities, including the PIA. 

“He directed to televise live Pakistan International Airlines Company Limited’s privatization including bidding and other important steps,” Radio Pakistan said. “The process of privatization of other institutions will also be broadcast live.”
The prime minister was informed that the pre-qualification process for PIA’s privatization would be completed by the end of May. He was told loss-making SOEs would be privatized on priority and that a “pre-qualified panel of experts” is being appointed in Pakistan’s Privatization Commission to speed up the process. 
Separately, Aurangzeb chaired a meeting of the Cabinet Committee on State-Owned Enterprises on Monday which was attended by ministers of maritime affairs, economic affairs, housing and works, the governor of Pakistan’s central bank and other officials. The meeting was held to evaluate the performance of the country’s public entities and review the progress of the government’s privatization agenda. 
Aurangzeb directed concerned ministries and divisions to submit proposals for the categorization of their respective public entities by May 20. The step is aimed at reviewing the rationale for retaining any commercial functions within the public sector, the finance ministry said. 

“The objective is to retain only the essential functions within the public sector & to assign the remaining functions to the private sector,” it said. “At the same time the entities which remain in public sector have to be more competitive, accountable, and responsive to the needs of citizens.”

Participants agreed to foster transparency, efficiency, and sustainable growth within the SOEs, reflecting the government’s dedication to ensuring the optimal utilization of public resources, the ministry said. 

Topics: Pakistan PIA privatization Arab News Pakistan

Pakistan face dangerous Ireland in T20I series decider today

Updated 49 min 11 sec ago
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Pakistan face dangerous Ireland in T20I series decider today

  • Buoyed by stellar performances from Rizwan, Fakhar Zaman, Pakistan beat Ireland on Sunday to level series 1-1
  • After Ireland series, Pakistan will head to England for four-match T20 series as preparation before T20 World Cup
Updated 49 min 11 sec ago
Shahjahan Khurram

ISLAMABAD: Pakistan will face a dangerous Ireland cricket team today, Tuesday, in the third and final T20 match of the series between the two teams in Dublin, as both sides look to gain momentum with less than a month to go before the World Cup kicks off in June. 

The visitors were shocked by minnows Ireland last week when they lost in the series opener on Friday. However, the South Asian country bounced back in the second T20I on Friday, beating Ireland by seven wickets in a match that saw stellar performances from Mohammad Rizwan, Fakhar Zaman, Shaheen Shah Afridi and a late blitz from Azam Khan. 

“The third and last T-20 between Pakistan and Ireland will be played at Dublin today,” state-run Radio Pakistan reported. “The match will start at 7:00 p.m. Pakistan Standard Time.”

Pakistan and Ireland are both in Group A of the upcoming ICC Men’s T20 World Cup 2024 in the West Indies and the USA. They will face each other in the tournament on 16 June, Sunday, in Florida. Ireland have given Pakistan a tough time in the series, losing the second match after taking early breakthroughs and handing skipper Babar Azam’s side an impressive 194-run target. 

Pakistan’s bowling attack, considered its main strength which features the likes of Shaheen Shah Afridi, Naseem Shah and Mohammad Amir, has been in the spotlight for conceding too many runs and failing to trouble the Irish batters much. 

Separately, Cricket Ireland on Monday officially confirmed a first men’s tour of Pakistan in August and September in 2025. The series will see both countries play three T20Is and three ODIs against each other. It was part of the Future Tours Programme (FTP) of the ICC scheduled for September 2025.

The decision was finalized after Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi met Cricket Ireland Chairman Brain MacNeice. A statement released by the PCB, however, did not mention any dates and venues for the schedule of the series. It follows in the wake of Ireland Women touring Pakistan, who also played three ODIs and three T20Is in November 2022.

The Pakistan men’s team will head to England for a four-match T20I series after the third T20I against Ireland. Following the England series, with matches scheduled at Headingley (22 May), Birmingham (25 May), Cardiff (28 May), and The Oval, London (30 May), both England and Pakistan will head to the US for the ICC Men’s T20 World Cup 2024. 

England will face Scotland in Barbados on June 4 in their opening match, while Pakistan will launch their campaign against the United States (US) in Dallas on June 6. Pakistan will take on arch-rivals India on June 9 in New York which is set to be one of the most anticipated clashes of the T20 World Cup.

Squads:

Ireland: Paul Stirling (captain), Mark Adair, Ross Adair, Andrew Balbirnie, Curtis Campher, Gareth Delany, George Dockrell, Graham Hume, Barry McCarthy, Neil Rock, Harry Tector, Lorcan Tucker, Ben White, Craig Young

Pakistan: Babar Azam (captain), Abrar Ahmed, Azam Khan, Fakhar Zaman, Haris Rauf, Hasan Ali, Iftikhar Ahmed, Imad Wasim, Mohammad Abbas Afridi, Mohammad Amir (unavailable for first T20I), Mohammad Rizwan, Muhammad Irfan Khan, Naseem Shah, Saim Ayub, Salman Ali Agha, Shadab Khan, Shaheen Shah Afridi and Usman Khan
 

Topics: Pakistan Cricket Ireland Arab News Pakistan

US study group urges Washington to address growing threats from Pakistan, Afghanistan

Updated 14 May 2024
AFP
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US study group urges Washington to address growing threats from Pakistan, Afghanistan

  • Study group led by US policymakers say extremist groups gaining strength in ways that threaten America, allied interests
  • Group calls on US to work with Pakistan again on fighting militants, securing long-term access to Pakistani airspace 
Updated 14 May 2024
AFP

Washington: The United States must move on from the “trauma” of two decades of war and step up counterterrorism efforts to face growing threats from Afghanistan and Pakistan, a study said Tuesday.

The study group, led by former senior US policymakers, made clear it was not advocating a return to America’s longest war which ended when President Joe Biden pulled troops from Afghanistan in 2021 and the Taliban regained control.

But it said that, after the overwhelming focus on counterterrorism following the September 11, 2001 attacks, the pendulum “appears to have swung in the opposite direction” as the United States focuses on competition with China, Russia’s invasion of Ukraine and Israel’s war on Hamas. 

“Both decision-makers and many who have labored within the national security agencies show signs of something like collective trauma resulting from a 20-year-long counterterrorism effort,” said the study group, convened in 2022 under the US Institute of Peace.

“The tragic end of US involvement in Afghanistan has also made it a toxic issue, reinforcing inclinations to keep the region off the policy agenda and the public’s radar,” it said.

But it said that extremist movements are “gaining strength in ways that threaten US and allied interests” and have found a “range of new opportunities for regrouping, plotting and collaborating” in Afghanistan.

It pointed to the Daesh, Taliban rivals who have nonetheless found a haven in Afghanistan and were implicated in a major attack in March in Moscow, and the Tehreek-e-Taliban Pakistan, which has been waging an armed campaign against Islamabad.

The report called on the United States to be “less restrictive” on the use of force against threats in Afghanistan — not a return to conventional war but pursuing military action against direct threats identified to the United States.

It also called for the United States to consider “shows of force” such as flying drones to pressure Taliban leaders to sever persistent ties with Al-Qaeda.

Noting a drop in US intelligence and capabilities since the withdrawal, the study called for the United States again to work with Pakistan, including on fighting militants and securing long-term US access to Pakistani airspace.

Pakistan became a top US aid recipient during the Afghanistan war but US officials long believed that Islamabad was playing a double-game and keeping the Taliban alive.

The Biden administration has shown little interest in engaging Pakistan, an inclination not helped by the tumultuous politics inside the world’s fifth most populous country.

“You’ve got a lot of people currently serving at the highest levels of the US government who have a strong distaste for Pakistan based on experience during the 20 years in Afghanistan,” said Laurel Miller, co-chair of the study group, who served as the US special representative for Afghanistan and Pakistan and now heads The Asia Foundation.

“There’s a strong feeling of Pakistan having been disingenuous, to say the least, with the United States,” she told AFP.

“But there are certain immutable realities, which include that Pakistan is next door to Afghanistan, which currently is a sanctuary for terrorist groups,” she said.

“So I think there’s just no choice other than to have a kind of relationship with Pakistan that enables the US to protect its own interests in the region.”

She said that US policy on Pakistan was also affected by the “zero-sum view” of India, a growing partner of Washington which has long criticized US ties with its neighbor and historic adversary.

The study called for the United States to make clear to Pakistan “serious negative repercussions” if militants based in the country again attack India.

The report’s other co-chair was Michael Nagata, a retired army lieutenant general with experience in counterterrorism.

Other members of the group included Anne Patterson and Michael McKinley, former US ambassadors to Pakistan and Afghanistan respectively, and prominent scholars.

Topics: Pakistan US Ties

Pakistan vows to foster efficiency, sustainable growth in public entities amid privatization push

Updated 14 May 2024
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Pakistan vows to foster efficiency, sustainable growth in public entities amid privatization push

  • Finance minister chairs cabinet committee meeting to review privatization agenda of public entities
  • Pakistan agreed to overhaul loss-making entities in exchange for a financial bailout from IMF last year
Updated 14 May 2024
KHURSHID AHMED   

KARACHI: Key ministers of the government, including Finance Minister Muhammad Aurangzeb this week vowed to ensure efficiency and sustainable growth in Pakistan’s public entities as Islamabad moves to privatize state-owned enterprises (SOEs) that have accumulated losses worth billions over the years. 

Pakistan agreed to overhaul its public entities under a $3 billion financial bailout agreement it signed with the International Monetary Fund (IMF) last year, a deal that helped it avert a sovereign debt default in 2023. The IMF has said Pakistan’s SOEs whose losses are burning a hole in government finances would need stronger governance. Pakistan is currently negotiating with the international lender for a larger, longer program for which it must implement an ambitious reforms agenda, including the privatization of debt-ridden SOEs.

Among the main entities Pakistan is pushing to privatize is its national flag carrier, Pakistan International Airlines (PIA). The government is putting on the block a stake ranging from 51 percent to 100 percent.

Aurangzeb chaired a meeting of the Cabinet Committee on State-Owned Enterprises on Monday which was attended by ministers of maritime affairs, economic affairs, housing and works, the governor of Pakistan’s central bank and other officials. The meeting was held to evaluate the performance of the country’s public entities and review the progress of the government’s privatization agenda. 

“The meeting concluded with a commitment to fostering transparency, efficiency, and sustainable growth within the State-Owned Enterprises, reflecting the government’s dedication to ensuring the optimal utilization of public resources,” the finance ministry said. 

Aurangzeb directed concerned ministries and divisions to submit proposals for the categorization of their respective public entities by May 20. The step is aimed at reviewing the rationale for retaining any commercial functions within the public sector, the ministry said. 

“The objective is to retain only the essential functions within the public sector & to assign the remaining functions to the private sector,” it said. “At the same time the entities which remain in public sector have to be more competitive, accountable, and responsive to the needs of citizens.”

The finance minister noted that there were gaps in the governance and financial management of some companies which needed to be addressed. He directed the vacancies on the Board of Directors (BoD) of some companies to be filled and for others to have their accounts audited. 

“The Chairman emphasized that continued losses & fiscal haemorrhage had to be stopped as a national priority,” the finance ministry said. “Therefore SOEs restructuring & privatization agenda needed to be expedited in order to improve the efficiency of these entities.”
 
Prime Minister Shehbaz Sharif has assured the business community that the privatization process would be a transparent one and has warned the country’s bureaucracy that the government would not tolerate any delays in it. 

Topics: Pakistan SOEs IMF PIA

Pakistani fintech JazzCash partners with UAE’s du Pay for cross-border payments

Updated 14 May 2024
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Pakistani fintech JazzCash partners with UAE’s du Pay for cross-border payments

  • du Pay, licensed by the UAE central bank, offers international money transfers, mobile top-ups, bill payments and salary deposits
  • JazzCash says both firms will explore new avenues of cooperation, leveraging their strengths to expand JazzCash’s footprint in UAE
Updated 14 May 2024
Arab News Pakistan

KARACHI: JazzCash, a leading Pakistani fintech organization, on Monday announced its partnership with Emirati financial services provider, du Pay, for cross-border payments.

The signing of a memorandum of understanding (MoU) marked the “first-ever” collaboration between a Pakistani fintech organization and du Pay to simplify the transfer of payments from the United Arab Emirates (UAE) to Pakistan, according to JazzCash.

The Gulf nation hosts a vast Pakistani expatriate community and holds the distinction of being the second-largest contributor of remittances to Pakistan after Saudi Arabia, with $548 million transferred to Pakistan in March alone.

Aamir Ibrahim, CEO of Jazz, the parent company of JazzCash, said remittances from Pakistani expats were vital to Pakistan and this collaboration would help ensure these contributions had a lasting impact on Pakistan’s economic stability.

“We are committed to using technology to enhance financial inclusion,” Ibrahim was quoted as saying in a JazzCash statement. “Our partnership with du Pay simplifies payments for Pakistanis everywhere, emphasising our role in boosting economic growth.”

du Pay, licensed by the UAE central bank, offers a diverse suite of services, including international money transfers, peer-to-peer (P2P) transfers, mobile top-ups, bill payments, and salary deposits through an IBAN, according to the statement.

As strategic allies, both firms will be exploring new avenues of cooperation, leveraging their strengths to drive innovation and expand JazzCash’s footprint in the UAE markets.

“As a leading digital telco, we are committed to delivering exceptional services and solutions to our customers, and we believe this partnership between du Pay and JazzCash, a leading mobile money operator in Pakistan, will ensure streamlined customer experience with great benefits,” said Fahad Al Hassawi, CEO of du.

“du Pay will offer a simplified and secure digital service that will advance financial inclusion and positively impact the lives of Pakistani nationals.”

Topics: Pakistan UAE ties JazzCash Du du Pay remittances

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