At OIC’s Cameroon moot, Pakistan calls for securing immediate ceasefire in Gaza

Participants attend two-day OIC Council of Foreign Ministers (CFM) meeting in Cameroon on August 30, 2024. (@sesric/X)
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Updated 30 August 2024
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At OIC’s Cameroon moot, Pakistan calls for securing immediate ceasefire in Gaza

  • Foreign Secretary Syrus Sajjad Qazi says the OIC’s raison d’être dictates ‘determined action’ to respond to Israel’s ongoing military campaign
  • The diplomat calls for unrestricted humanitarian aid to Gaza, prevention of the spread of the war to Middle East, while holding Israel accountable

ISLAMABAD: Pakistan’s Foreign Secretary Muhammad Syrus Sajjad Qazi called for securing an immediate ceasefire in Gaza as he addressed a meeting of foreign ministers of the Organization of Islamic Cooperation (OIC) member states in Cameroon, Pakistan’s foreign office said on Friday.

Qazi led the Pakistan delegation to the two-day OIC Council of Foreign Ministers (CFM) meeting on Aug. 29-30, where he highlighted the ongoing Israeli military actions in Gaza and the West Bank as well as conflicts across the world, fueled by endemic poverty, terrorist and extremist groups and external interventions.

Pakistan’s top diplomat said the raison d’être of the OIC dictated “determined action” to respond to Israel’s ongoing military campaign against the Palestinian people and the depredations against Islam’s most sacred sites and symbols, noting that the war on Gaza had killed over 40,000 Palestinians and displaced nearly 2 million others.

“We must urgently secure an immediate and unconditional ceasefire in Gaza and the West Bank; ensure unrestricted humanitarian aid to Gaza; prevent the spread of the conflict to the entire Middle East, while holding Israel accountable for its criminal assassinations and violation of the sovereignty and territorial integrity of Iran, Lebanon and other States,” Qazi was quoted as saying by the Pakistani foreign office.

Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state based on “internationally agreed parameters” and the pre-1967 borders with Al-Quds Al-Sharif as its capital.

Since the beginning of Israel’s war on Gaza in October last year, the South Asian country has repeatedly raised the issue at the United Nations and demanded international powers and multilateral bodies stop Israeli military actions. Pakistan has also dispatched several aid consignments for the Palestinians.

The two-day event was held in Cameroon’s capital city of Yaoundé, where the top Pakistani diplomat also spoke about challenges facing the Muslim world, including rising Islamophobia.

He said Islamophobia had emerged as a global crisis, marked by frequent desecration of the Holy Qur’an, attacks on mosques, stereotyping of Muslims and acts of discrimination and violence against them.

“We must work within the OIC, including through the OIC Secretary General’s Special Envoy on Islamophobia, to reach out to the United Nations to develop an Action Plan to Combat Islamophobia,” Qazi urged.


Pakistan approves new energy market system allowing consumers to choose electricity suppliers

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Pakistan approves new energy market system allowing consumers to choose electricity suppliers

  • Cabinet Committee on Energy has approved an independent entity to transition to multi-player electricity market
  • The initiative is expected to help address issues like circular debt, power theft and transmission losses in Pakistan

ISLAMABAD: The Cabinet Committee on Energy on Wednesday approved the formation of an independent entity to reform Pakistan’s energy market by enabling consumers to purchase power from multiple suppliers, moving away from the current government-controlled system, where it is the sole buyer of electricity.
Pakistan’s energy sector has long struggled with financial strain due to circular debt, power theft and transmission losses, which have led to blackouts and high electricity costs.
The development of the independent market is viewed as a critical step toward addressing these issues by fostering competition, improving transparency and attracting foreign investment, ultimately easing the financial burden on the government and consumers alike.
The committee gave principal approval for the creation of the Independent System and Market Operator (ISMO) during a meeting chaired by Prime Minister Shehbaz Sharif, though the decision still requires endorsement by the federal cabinet for implementation.
“ISMO will gradually replace the government as the sole buyer of electricity and transition the energy market into a multi-player independent market,” the PM Office said in a statement issued after the meeting. “Consumers will be able to purchase electricity from suppliers other than just distribution companies under this system.”
“This initiative will help establish an efficient, transparent and competitive electricity market in Pakistan,” it added.
The creation of ISMO is also expected to reduce circular debt and stabilize electricity prices.
“The ISMO board will include experts from the energy sector to ensure smooth operations,” the statement informed.
Addressing the meeting, the prime minister emphasized the need to expedite efforts to reduce theft and losses in the electricity sector.
“We are taking priority-based measures to reform Pakistan’s energy sector,” Sharif added.


Saudi Arabia top contributor as Pakistan worker remittances grow 29% year-on-year

Updated 09 October 2024
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Saudi Arabia top contributor as Pakistan worker remittances grow 29% year-on-year

  • Highest inflow of $681.3 million was recorded from Saudi Arabia, followed by UAE, UK, US
  • Remittances bring billions of dollars annually from overseas Pakistanis and are vital to economy

KARACHI: Pakistan recorded year-on-year growth of 29 percent in workers’ remittances with inflows of $2.8 billion in September, the central bank said on Wednesday, with the highest contributions from Saudi Arabia and the United Arab Emirates. 
Remittances bring billions of dollars annually from overseas Pakistanis and are vital to Pakistan’s struggling economy. These inflows bolster foreign exchange reserves, stabilize the balance of payments, and support the Pakistani currency. 
“Remittances inflows during September 2024 were mainly sourced from Saudi Arabia ($681.3 million), United Arab Emirates ($560.3 million), United Kingdom ($423.6 million) and United States of America ($274.9 million),” the central bank said.
In the first quarter of the fiscal year 2025 (Q1-FY25), Pakistan received $8.8 billion in remittances, representing a significant growth of 38.8 percent compared to the same quarter last year (Q1-FY24), central bank data showed. 
The State Bank of Pakistan (SBP) on Tuesday announced a three-time increase in monetary incentives for exchange companies to bring more remittances into the country. 
The bank increased incentives to Rs4 per US dollar for exchange companies on home remittances effective Oct. 1. According to the circular, ECs will be paid on a fixed component with a base rate of Rs2 for each US dollar of home remittances surrendered to SBP-designated banks. On the variable component, ECs will be paid Rs3 for each incremental US dollar surrendered to encourage growth in home remittances up to 5 percent or $25 million (whichever is lower) than the previous year. Further, Rs4 per US dollar will be paid against incremental remittances above 5 percent or over $25m, compared to the previous year.


Root surpasses Cook’s 12,472 test runs as England reaches 232-2 in first test against Pakistan

Updated 09 October 2024
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Root surpasses Cook’s 12,472 test runs as England reaches 232-2 in first test against Pakistan

  • Root is now fifth on the all-time list of test run-scorers behind Sachin Tendulkar’s leading 15,921
  • England lost Zak Crawley’s wicket in the first half-hour when he chipped a catch of Shaheen Afridi

MULTAN: Joe Root became England’s highest-run scorer in tests as the tourists continued to score at a rapid pace on the third day of the first test against Pakistan on Wednesday.
Root surpassed Alastair Cook’s 12,472 runs with a straight-driven boundary before lunch to reach 72 at the break and guided England to a brisk 232-2 in 45 overs.
Root is now fifth on the all-time list of test run-scorers behind Sachin Tendulkar’s leading 15,921.
Ben Duckett recovered from a thumb injury which denied him opening England’s first innings on Tuesday afternoon and was unbeaten on 80 off 67 balls as the tourists smashed 136 runs in the first session after resuming on 96-1.
England still trails Pakistan by 324 runs after the home team was bowled out for 556 on a placid wicket of Multan Cricket Stadium.
England lost the wicket of Zak Crawley (78) inside the first half-hour when he chipped a catch of Shaheen Shah Afridi (1-44) after adding 14 runs to his overnight score of 64. Jamal pounced on the opportunity on second attempt at short mid-wicket as Crawley tried to whip the fast bowler on the on-side.
But England continued to exhibit its ‘Bazball’ approach against both pace and spin on a benign wicket. Duckett and Root decoded the mystery spin of Abrar Ahmed with lot of aggression on an unresponsive wicket for the bowlers as the leg-spinner has so far conceded 79 runs off his 12 overs.
In an England-dominated session, Pakistan also lost two of its reviews when it went for a shocking caught behind referral against Duckett soon after the left-hander had completed his half century, but the television replays suggested the bat was nowhere near the ball.
Captain Shan Masood then went for a second referral against Root off the same bowler, but the TV replays showed the ball was missing the leg stump.


Shehroze Kashif becomes youngest Pakistani to summit all 14 of the world’s tallest peaks

Updated 09 October 2024
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Shehroze Kashif becomes youngest Pakistani to summit all 14 of the world’s tallest peaks

  • Kashif fulfilled his dream by summiting the 8,027-meter-high Shishapangma in Tibet on Wednesday
  • The 22-year-old climbed Broad Peak in Pakistan, his first 8,000-meter mountain, when he was just 14

KHAPLU, Gilgit-Baltistan: Pakistan’s Shehroze Kashif has become the youngest high-altitude climber from his country to scale all 14 of the world’s tallest peaks following his successful ascent of Shishapangma in Tibet, the Alpine Club of Pakistan confirmed on Wednesday.
The 14 peaks, often referred to as the “eight-thousanders,” are over 8,000 meters high and are considered the ultimate test in mountain climbing.
The 22-year-old Pakistani mountaineer began his career at the age of 11 and summited Broad Peak in his own country, which stands at 8,047 meters, when he was barely 14.
“On October 9, 2024, at 3:30 am PST, Shehroze Kashif successfully reached the summit of Shishapangma (8,027 meters), completing his journey of climbing all 14 of the world’s 8,000-meter peaks,” Karrar Haidri, the general secretary of the Alpine Club of Pakistan, announced in a statement.
“This remarkable achievement makes him the youngest Pakistani to conquer these formidable summits,” he continued, adding: “Once again, Shehroze has proudly raised the Pakistani flag on one of the world’s highest peaks, marking a historic moment for him and the nation.”
Seven Summit Treks, a Nepalese tour company that arranged the expedition, also confirmed the achievement, listing Kashif in its list of summiteers.
“A team of international climbers and Sherpas (29 Total) from Seven Summit Treks reached the summit of Shisha Pangma today,” it said in a Facebook post. “This remarkable achievement marks a significant milestone for 12 climbers, completing their 14 Peaks challenge and entering the exclusive 8000ers club of mountaineers who have successfully climbed the world’s highest peaks.”
Speaking to Arab News, Salman Kashif, the father of the Pakistani mountaineer, said his family was celebrating the moment after his son successfully completed “Mission 14.”
“As a parent, Shehroze’s achievement is a huge, happy moment as today he has fulfilled his dream of summiting all 14 peaks above eight thousand meters,” he said over the phone.
“When he was stuck on Nanga Parbat last year, we thought he might give up climbing,” he continued. “However, his passion remained high since he had set himself a goal. That’s why he decided to climb the remaining peaks.”
Kashif’s father described his son as “a city boy who loved mountains” and started climbing at a young age.
“All of my family members were awake last night,” he added. “There is a celebratory atmosphere at our house now. People and relatives are visiting to congratulate us.”
He noted everyone at home was excited.
“We will warmly receive Shehroze and celebrate his achievement once he returns.”


Saudi investment minister due in Pakistan today to finalize $2 billion business proposals

Updated 5 min 27 sec ago
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Saudi investment minister due in Pakistan today to finalize $2 billion business proposals

  • Saudi Arabia’s investment minister is scheduled to visit Pakistan from October 9 to 11 ahead of the SCO Summit
  • Pakistan’s deputy PM says Saudi Arabia has been ‘rock solid’ in helping Pakistan navigate economic challenges

ISLAMABAD: A high-level Saudi delegation, led by the Kingdom’s Investment Minister Khalid bin Abdulaziz Al-Falih, will arrive in Pakistan today, Wednesday, for a three-day visit during which $2 billion in business-to-business investment proposals are expected to be finalized.
Pakistan’s foreign office confirmed Al-Falih’s visit from October 9 to 11 earlier this week, noting that he would be accompanied by a high-level delegation. The visit by the Saudi minister and his team comes ahead of the Shanghai Cooperation Organization (SCO) Summit next week and aims to enhance economic collaboration between the two countries.
Addressing his cabinet a day earlier, Prime Minister Shehbaz Sharif confirmed the anticipated signing of $2 billion worth of agreements with the incoming Saudi delegation. Deputy Prime Minister Ishaq Dar also spoke about it at a ceremony in the federal capital.
“The Saudi Minister for Investment will arrive on Wednesday to finalize various business-to-business (B2B) investment proposals, which are estimated to exceed $2 billion,” Dar said on Tuesday.
“In recent times, Saudi Arabia has remained rock solid in helping us navigate difficult economic challenges,” he continued, adding the Kingdom’s support had been critical in enabling Pakistan to stand on its own feet.
“The two countries are on a path to forge ever closer strategic cooperation between people of the two countries,” he said.
Dar emphasized the need for both countries to maintain the current momentum in their bilateral relations to achieve the vision of their leaders, where both nations grow together into stronger and more prosperous states.
“On behalf of the people and the government of Pakistan, I extend my deep and sincere gratitude to the Kingdom of Saudi Arabia for its continued support and assistance to Pakistan in good times as well as in difficult phases,” he said.
Pakistan and Saudi Arabia have been working closely in recent months to increase bilateral trade and investment deals, with Crown Prince Mohamed bin Salman reaffirming the Kingdom’s commitment earlier this year to expedite a $5 billion investment package for the South Asian country.
Pakistan has been seeking closer cooperation in trade, defense, energy and other sectors with regional allies as it aims to recover from a prolonged economic crisis that has drained its foreign exchange reserves and weakened its currency.