ISLAMABAD: Pakistan stepped up lobbying as it vies for a seat on the United Nations Security Council (UNSC), reported state media on Wednesday, with the General Assembly set to meet tomorrow, on June 6, to elect five non-permanent members to the world body’s most significant and powerful institution.
The UNSC comprises 15 countries, five of which are permanent members with veto-wielding authority, including China, France, Russia, the United States and the United Kingdom. The council’s primary responsibility is the maintenance of international peace and security.
Pakistan’s previous terms as a non-permanent member arrived in 2012-13, 2003-04, 1993-94, 1983-84, 1976-77, 1968-69 and 1952-53.
“The UNGA is set to meet on Thursday to elect five non-permanent members of the Security Council,” the state-run Associated Press of Pakistan (APP) said on Wednesday. “Pakistan and other candidates have stepped up their lobbying activities for a seat.”
The report said the Asian seat was being vacated by Japan this year, adding the countries elected now would serve for two years from Jan 1, 2025, through the end of 2026. Other outgoing countries include Ecuador, Malta, Mozambique and Switzerland whose terms end on December 31, 2024.
The APP said the seven-term candidate Pakistan was likely to get elected unopposed following endorsement by the 53-member Asian group.
“If elected, Pakistan will devote its efforts to promoting the maintenance of international peace and security and the peaceful resolution of conflicts and disputes per the principles and purposes of the UN Charter,” the news agency quoted Pakistan’s Permanent Representative to the UN, Ambassador Munir Akram, as saying.
The voting for the non-permanent members is conducted by a secret ballot and candidates need to receive a two-third majority, or 128 votes, even if they run uncontested. Re-polls are conducted if the required number of polls are not secured by a country.
In the same contest, Somalia and Mauritius are candidates for the African seat, while Denmark and Greece are contesting for the Western European seat.
Panama is the sole candidate for the Latin American seat.
Pakistan’s diplomatic push for UNSC seat gains momentum ahead of tomorrow’s General Assembly meeting
https://arab.news/ptwzm
Pakistan’s diplomatic push for UNSC seat gains momentum ahead of tomorrow’s General Assembly meeting
- Ambassador Munir Akram says the South Asian state will devote its efforts to world peace and security if elected
- Pakistan is striving for the non-permanent Asian seat and has received endorsements from the 53-member group
Pakistan to press ahead with privatization after $441 million net loss in FY2024-25
- National Highway Authority and power distribution companies are major loss contributors
- The government says reforms agenda is shifting ‘from diagnosis to delivery’ after PIA sale
KARACHI: Pakistan is pressing ahead with plans to privatize state-owned enterprises (SOEs) after official data released on Friday showed the sector posted a net loss of PKR 122.9 billion ($441 million) in the year ended June 2025, with the government approving new transactions involving power utilities, an international airport and other major assets.
The Cabinet Committee on State-Owned Enterprises, chaired by Finance Minister Muhammad Aurangzeb, reviewed the Annual Consolidated Performance Report of SOEs for the fiscal year ended June 2025. The report was prepared by the Finance Division’s Central Monitoring Unit, which showed SOEs remain a significant drag on public finances.
“The Committee was informed that during FY 2024-25, aggregate revenues of SOEs stood at approximately PKR 12.4 trillion [$44.6 billion], reflecting a decline largely attributable to reduced profitability in the oil sector following lower international oil prices,” said an official statement circulated by the Finance Division.
“Aggregate profits of profit-making SOEs declined by 13 percent to PKR 709.9 billion [$2.55 billion] compared to PKR 820.7 billion [$2.95 billion in the preceding year], while aggregate losses of loss-making SOEs showed improvement, declining by around 2 percent to PKR 832.8 billion [$2.99 billion],” it added. “Despite this improvement, the net result was an overall net loss of PKR 122.9 billion [$441 million] for the SOE sector, compared to a net loss of PKR 30.6 billion [$110 million] in the previous year.”
It was highlighted that losses remain heavily concentrated in a small number of entities, particularly in the transport and power distribution sectors.
“National Highway Authority and several power distribution companies continued to be major loss contributors, reflecting structural issues, high depreciation, financing costs, and the public service nature of certain operations that are not commercially viable,” the statement said.
It added the cabinet committee directed that the findings of the report be shared with relevant ministries to inform reform measures and that progress on audits, governance reforms, debt rationalization and fiscal risk containment be reviewed regularly.
In a separate post on X, government finance adviser Khurram Schehzad said the SOE reform agenda was shifting “from diagnosis to delivery,” citing recent privatizations including First Women Bank, the shutdown of Utility Stores Corporation and progress on Pakistan International Airlines.
The Privatization Commission also held a meeting during the day, saying it would also move ahead with the privatization of power distribution companies while recommending that Islamabad International Airport be included in the privatization program under an open, competitive concession model.
It also decided to restart the sale process for House Building Finance Company Limited after terminating an earlier negotiated transaction that failed to meet valuation benchmarks.
Pakistan is implementing structural reforms under a $7-billion program agreed with the International Monetary Fund, which has urged Islamabad to rein in losses at state firms and reduce fiscal risks stemming from debt and guarantees.
