Four Pakistanis killed by Iranian border guards in remote southwestern region — officials

In this file photo, taken on February 25, 2020, Pakistani and Iranian flags flutter on the closed Pakistan-Iran border in Taftan. (AFP/File)
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Updated 30 May 2024
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Four Pakistanis killed by Iranian border guards in remote southwestern region — officials

  • The incident happened in Balochistan after a vehicle carrying a group of Pakistanis was targeted
  • Pakistani officials say it is unclear why the Iranian border security guards decided to open fire

QUETTA: Iranian border guards opened fire at a vehicle carrying a group of Pakistanis, killing four people and wounding two others in a remote area in the southwest, Pakistani officials said Thursday.
The incident happened near the border village of Mashkel in Balochistan province on Wednesday, local police said. Government administrator Sahibzada Asfand said it was unclear why the Iranian forces opened fire.
Local police say the bodies of the four men had been handed over to their families.
There was no immediate comment from Tehran or Pakistan’s Foreign Ministry.
Security forces on both sides often arrest smugglers and insurgents who operate in the region. Pakistan in tit-for-tat strikes in January targeted alleged militant hideouts inside Iran, killing at least nine people in retaliation for a similar attack by Iran.


Pakistan stocks hit record high on budget, IMF optimism

Updated 20 June 2024
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Pakistan stocks hit record high on budget, IMF optimism

  • Pakistan released tax-heavy budget last week which investors believe will strengthen case for new IMF bailout
  • Market breached 78,000 level for first time during intraday trade as it reopened after five-day break on Thursday

KARACHI: Pakistan’s benchmark share index rose 2.8 percent to a new record high on Thursday, driven by expectations last week’s budget will strengthen the case for a new bailout from the International Monetary Fund.

The government’s budget was welcomed by investors as it avoided an anticipated increase in capital gains tax, despite an ambitious tax revenue target.

The market extended its post-budget rally on Thursday when it reopened after a five-day break, which included a public holiday, and breached the key 78,000 level for the first time during intraday trade.

Foreign portfolio investment in the market is at the highest in almost ten years, with inflows of $83 million as of June 14, data compiled by Topline Securities and JS Global Capital showed.

Sohail Mohammed, CEO of Topline Securities, said that a statement from credit rating agency Fitch that the budget would strengthen the prospects for an IMF deal would help to bring more foreign inflows.

The benchmark share index is up 26.2 percent year to date and has almost doubled since Pakistan signed a nine-month standby arrangement with the IMF last summer.

“Pakistani equity investors are driving the PSX higher, continuing to unlock valuations on better sentiment, which is a trend that began when Pakistan signed its last IMF deal last summer,” said Amreen Soorani, head of research at JS Global Capital.

“The trend paused briefly on anticipation of stricter capital gains taxes, which did not materialize,” she said, adding that the index is trading at a four times price to earnings ratio despite the recent rally and offers attractive dividend yields.

The financial sector was up 4.4 percent, with banks like UBL, HBL, MCB, Bank Alfalah, Habib Metropolitan Bank, Allied Bank, up more than 4 percent.

Adnaan Sheikh, assistant vice president of research at Pak Kuwait Investment Company, said that foreign investor interest and the central bank’s decision to cut its key rate by 150 basis points last week — its first rate cut in nearly four years — had pushed the market up.

Apart from the capital gains tax, analysts said the budget and other revenue measures were in line with expectations and key to sealing a new IMF program. This will include a challenging tax target of a near-40 percent jump from the current year and a sharp drop in the fiscal deficit to 5.9 percent of GDP from 7.4 percent for the current year.

Sheikh said the strict budgetary measures to secure new IMF funding will be likely to attract more foreign investors to the market, in addition to the current inflows.

Pakistan’s lower house of parliament is set to meet later on Thursday to debate the budget that the government presented last week. 


PM Sharif hopes Pakistan’s disaster authority acts as ‘safety wall’ against climate change effects

Updated 20 June 2024
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PM Sharif hopes Pakistan’s disaster authority acts as ‘safety wall’ against climate change effects

  • Sharif visits National Emergencies Operation Center that can anticipate disasters up to three months in advance
  • Pakistan is ranked fifth most vulnerable country to climate change globally, has suffered 10,000 deaths from 1999 to 2018

ISLAMABAD: Prime Minister Shehbaz Sharif hoped Pakistan’s disaster management authority would act as a “safety wall” against climate change effects, as he visited the revamped National Emergencies Operation Center (NEOC), a center that can predict climate disasters in advance, on Thursday. 

Set up in October last year, the NEOC is equipped with the latest tools and technologies, including real-time satellite feeds, to anticipate disasters up to three months in advance. Established at the National Disaster Management Authority (NDMA), its multidisciplinary team of experts harnesses the power of geographic information system (GIS), remote sensing, climatology, meteorology, seismology, hydrology, and data sciences to monitor and analyze global and local hazards.

Pakistan is ranked the fifth most vulnerable country to climate change globally, with nearly 10,000 deaths and $3.8 billion in economic losses between 1999 and 2018, according to the Global Climate Risk Index. 

Climate-induced rains and subsequent flooding in the 2022 monsoons submerged a third of the South Asian country, killing around 1,700 people and affecting more than 33 million — almost the entire population of Canada. The country is also beset by frequent heat waves and droughts.

“Due to climate change, Pakistan is in the red zone and among the top ten vulnerable countries,” Sharif said during a visit to the center with federal ministers and secretaries. 

“I have no doubt that the NDMA, in coordination with provincial PDMAs, will become a safety wall for Pakistan.”

The Pakistani prime minister asked NDMA to ensure close coordination with provinces and the Gilgit-Baltistan and Azad Kashmir regions. 

“This is not an expenditure,” Sharif said. “This is an investment to save our future investments,” he remarked.”

Pakistan’s weather patterns have changed in recent years, forcing cities to strengthen their infrastructure and farmers to adapt their practices.

Analysts and government officials say Pakistan in recent years failed to achieve goals for economic growth because of man-made disasters, which have repeatedly hit the country in the form of droughts, heatwaves and heavy rains, which badly damaged the road network, bridges, power system and other infrastructure.
 


Unheard Nusrat Fateh Ali Khan album discovered 34 years later, set for release in September

Updated 20 June 2024
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Unheard Nusrat Fateh Ali Khan album discovered 34 years later, set for release in September

  • The Pakistani maestro died in 1997 at the age of 48, but he continues to have a wide fan base across the world
  • The lost album was discovered as Peter Gabriel’s Real World Records was relocating archives three years ago

ISLAMABAD: A new album of unheard melodies by Pakistan’s music icon Nusrat Fateh Ali Khan, recorded 34 years ago, will be released on September 20, according to a statement from Real World Records issued on Wednesday.

Founded in 1989 by Peter Gabriel, the company recorded Khan’s fusion music, which blends the mystical qawwali style of the East with Western instruments and sensibilities, following a collaborative decision between the two musicians.

The Pakistani maestro’s lost album — named ‘Chain of Light’ — was discovered in the Real World Records’ tape archives.

It was produced after the label signed him in 1989 and released a series of universally acclaimed albums with him throughout the 1990s.

“I’ve had the privilege to work with a ton of different musicians from all over the world in my time, but perhaps the greatest singer of them all was Nusrat Fateh Ali Khan,” Peter Gabriel said in a statement released by the company.

“What he could do and make you feel with his voice was quite extraordinary and we were very proud to have played a role in getting him to a much wider global audience,” he added. “It was a real delight when we found out this tape had been in our library. This album really shows him at his peak. It’s a wonderful record.”

Buried deep in a warehouse storage space, the label unearthed the album while relocating its archive in 2021.

Khan tragically passed away in 1997 at the age of 48. Almost 30 years later, however, his legacy continues to attract new generations of fans, evident in the six million average monthly Spotify listeners and YouTube videos of his music racking up over 1 billion views.

Reflecting on the album’s significance, producer Michael Brook, who collaborated with Khan on the popular “Mustt Mustt” album, noted that the Pakistani singer’s voice profoundly touched listeners.

“It is a once in a lifetime experience,” he said. “Like the immanent light of the record’s title, these songs are transformative and transcendent in a way that crosses languages and cultures. It draws the listener in, no matter their expectations.”

He said he was happy that Khan’s voice had returned.


Senior Chinese Communist Party leader to arrive in Pakistan, co-chair CPEC progress talks

Updated 43 min 32 sec ago
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Senior Chinese Communist Party leader to arrive in Pakistan, co-chair CPEC progress talks

  • Senior Chinese Communist Party leader to arrive in Pakistan, co-chair CPEC progress talks
  • Work underway to implement agreements signed during Prime Minister Sharif’s recent visit to China, says information minister

ISLAMABAD: A top leader of the Chinese Communist Party, Liu Jianchao, is scheduled to arrive in Islamabad today, Thursday, to co-chair the 3rd Meeting of the Pakistan-China Joint Consultative Mechanism (JCM) to discuss progress on the China-Pakistan Economic Corridor (CPEC) project, Information Minister Ataullah Tarar confirmed. 

The JCM for political parties on CPEC, established in 2019, functions as a regular consultation platform between the Communist Party of China and Pakistani political parties.

The inaugural meeting occurred in Beijing in March 2019, and the second meeting, held in August 2020, took place virtually.

Beijing is investing over $65 billion in energy and infrastructure projects in Pakistan as part of CPEC, a key element of its Belt and Road initiative. This will connect China to the Arabian Sea and help modernize Pakistan’s economy through a network of roads, railways, pipelines, and ports.

“A high-level Chinese delegation is arriving in Pakistan today (Thursday) and during the visit, the Chinese delegation will talk about upgrading CPEC,” Tarar told reporters during a news conference.

The visit by the Chinese delegation takes place days after Prime Minister Shehbaz Sharif traveled to China on a five-day official trip. Sharif met Chinese political and business leaders. 

Speaking about Sharif’s visit to China, Tarar said “historical agreements” were signed on the occasion.

“The work on these agreements, especially those signed in information technology, has already begun and the results will soon be visible,” he shared. 

Pakistan and China have agreed to advance CPEC into its second phase, expanding beyond infrastructure and energy to broader economic and social development, including rural revitalization, agricultural modernization, industrialization, and green development. 

This phase also emphasizes establishing Special Economic Zones to promote industrial growth and job creation.

Liu, who was invited to visit Pakistan by Deputy Prime Minister Ishaq Dar, will also hold meetings with Pakistan’s top political and military leadership during his stay in the country.

When asked about social media rumors that claimed Pakistan and China’s ties were deteriorating, the minister brushed them aside by saying that “many powers” are unable to accept the two countries’ friendship. 

“The visit of the Chinese delegation to Pakistan is a proof of trust between the two countries,” he added.


Pakistan launches post-Hajj flight operation, plans to bring back 1,200 pilgrims today

Updated 20 June 2024
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Pakistan launches post-Hajj flight operation, plans to bring back 1,200 pilgrims today

  • Religious affairs ministry asks pilgrims to get Zamzam water from designated spots at relevant airports
  • The flight operation will continue until July 21 to bring back 70,000 pilgrims on government Hajj scheme

ISLAMABAD: Pakistan launched the post-Hajj flight operation on Thursday, bringing back the first batch of 150 pilgrims from Saudi Arabia, with the religious affairs ministry saying that nearly 1,200 devotees would return via seven special flights to four different cities by the end of the day.
Transporting large numbers of pilgrims to and from Saudi Arabia during the Hajj season presents a significant logistical challenge, prompting the government to launch special flights, ensuring safe and timely travel for pilgrims.
The first post-Hajj flight operated between Jeddah and Multan, with six additional flights scheduled to return pilgrims to Karachi, Lahore and Islamabad later in the day.
The religious affairs ministry announced that 720 Pakistani pilgrims in Saudi Arabia will also travel to Madinah today. These pilgrims arrived in the kingdom shortly before Hajj began and were taken directly to Makkah, not having enough time to visit the Prophet’s Mosque before.
“The Hajj flight operation from Jeddah for the return of pilgrims will continue until July 9,” the ministry said in a statement. “The last Hajj flight from Madinah will arrive back in the homeland on July 21. The return of 70,000 government Hajj pilgrims will also be completed on July 21.”
In a separate statement, the ministry also announced the arrangements for distributing Zamzam water among pilgrims availing the government scheme.
“The ministry has made all airlines responsible through an agreement to facilitate pilgrims at designated points to collect Zamzam water,” it said.
The statement urged the pilgrims to collect the water from relevant airports and book it with their luggage.
Pilgrims often bring Zamzam water back from Hajj because it is considered sacred within Islam. The water comes from the Zamzam well located within the Grand Mosque in Makkah.
It is also believed to have unique properties and blessings, ensuring spiritual benefits and healing.