Pakistan’s deputy PM orders timely assistance for victims of Morocco boat tragedy

Pakistan Deputy Prime Minister and Foreign Minister Ishaq Dar gestures during a meeting at the Ministry of Foreign Affairs in Islamabad on January 18, 2025, on matters related to the recent boat tragedy off the coast of Morocco leading to several deaths. (Photo courtesy: MOFA)
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Updated 18 January 2025
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Pakistan’s deputy PM orders timely assistance for victims of Morocco boat tragedy

  • More than 40 Pakistanis are feared to have drowned while attempting to reach European shores
  • Pakistan has intensified efforts against human smugglers who facilitate journeys for illegal migrants

ISLAMABAD: Pakistan’s Deputy Prime Minister (DPM) Ishaq Dar on Saturday instructed the government to provide timely assistance to the victims of a recent boat tragedy off the coast of Morocco, where more than 40 nationals of his country are feared to have drowned while attempting to reach European shores.
Pakistan’s foreign office confirmed on Thursday that a migrant boat with 80 passengers on board, including several Pakistanis, had capsized near Morocco en route to Spain.
According to Moroccan authorities, 36 people were rescued on Wednesday from the vessel, which had departed Mauritania on January 2 with 86 migrants on board, including 66 Pakistanis, according to minority rights group Walking Borders.
The group’s CEO, Helena Maleno, said 44 of the 50 presumed dead were from Pakistan. The boat was reportedly heading toward Spain’s Canary Islands when it capsized.
Dar, who also serves as Pakistan’s foreign minister (FM), held a meeting in Islamabad earlier in the day to review the situation.
“The DPM/FM issued instructions for coordination of government response and asked the Ministries of Foreign Affairs and Interior to ensure provision of efficient and timely assistance to the Pakistani victims of the tragedy,” the foreign office said in a social media post.
Media reports claim almost all the Pakistanis who were on the boat were from cities in the eastern Punjab province.




Ahsan Shahzad, father of Suffian Ali, one of the victims of a migrant boat that capsized in West Africa’s Atlantic coastline, is consoled by relatives at his home in the village of Dhola, Lalamusa district, Pakistan on January 17, 2024. (AP)

The government has intensified its efforts in recent months against human smugglers who facilitate perilous journeys for illegal immigrants to Europe and has made several arrests.
Prime Minister Shehbaz Sharif has called for enhanced cooperation with international agencies, seeking swift action against human trafficking networks.




Ahsan Shahzad, shows a picture of his son, Suffian Ali, one of the victims of a migrant boat that capsized in West Africa’s Atlantic coastline, on his cell phone at his home in the village of Dhola, Lalamusa district, Pakistan on January 17, 2024. (AP)

He has also instructed the Federal Investigation Agency to compile a detailed report on migration-related incidents over the past year and implement an Integrated Border Management System (IBMS) to monitor and prevent illegal movement.
The incident near Morocco once again highlighted the perilous journeys many migrants, particularly Pakistanis, undertake due to conflict and economic instability in their home country.




Mohammad Akram, left, father of Abu Bakar, one of the victims of a migrant boat that capsized in West Africa’s Atlantic coastline, is consoled by relatives at his home, in Jura village, in the Lalamusa district in Pakistan on January 17, 2024. (AP)

In 2023, hundreds of migrants, including 262 Pakistanis, drowned when an overcrowded vessel sank in international waters off the southwestern Greek town of Pylos.
It was among the deadliest boat disasters ever recorded in the Mediterranean Sea.




Mohammad Akram shows a picture of his son Abu Bakar, one of the victims of a migrant boat that capsized in West Africa’s Atlantic coastline, on his cell phone at his home, in Jura village, in the Lalamusa district in Pakistan on January 17, 2024. (AP)

 


IFC launches $120 million fund to boost Pakistan agri-value chain, support farmers

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IFC launches $120 million fund to boost Pakistan agri-value chain, support farmers

  • Agriculture makes up 24 percent of Pakistan’s GDP, 40 percent of jobs
  • Funds will ensure steady fertilizer supply, sustain farmer programs

KARACHI: The International Finance Corporation (IFC) has launched a Rs33.6 billion ($120 million) fund to support financing from a foreign bank’s Pakistani subsidiary to a local fertilizer manufacturer to strengthen the country’s agri-value chain and support farmers, IFC said on Tuesday.

The funding will support long-term Pakistani rupee-denominated financing from Standard Chartered Bank Pakistan (SCBP) Limited to Engro Fertilizers Limited to strengthen Pakistan’s agri-value chain by mobilizing local capital, according to IFC.

It will help Engro Fertilizers make capital investments in maintenance of facilities and turnarounds, enabling uninterrupted supply of urea and other fertilizers to meet national demand as well as support farmer programs to complement its core mission of reliable production.

Ashruf Megahed, the IFC regional industry head for the Middle East and Central Asia, said the project will create new avenues for long-term local currency financing, supporting growth and enhancing financial resilience to manage risk in a sector critical to the nation’s economy.

“This investment reflects the strength of our partnership with Engro Fertilizers and Standard Chartered Bank and our shared commitment to provide innovative solutions to address challenges in a sustainable manner,” IFC quoted him as saying.

The investment, aimed at strengthening Pakistan’s agriculture sector and food security, is supported by a first-loss counter guarantee from the IFC-Canada Facility for Resilient Food Systems, according to the global finance corporation. It marks IFC’s first local currency investment in Pakistan.

“Engro has always strived to solve Pakistan’s most pressing issues meaningfully. Using local capital to strengthen local value chains reflects our commitment to the country and to our farmers — the backbone of Pakistan’s economy — through reliable fertilizer production,” Engro Fertilizers CEO Ali Rathore said.

“We are grateful to our partners, IFC and Standard Chartered Bank, for enabling us to advance this mission.”

Agriculture accounts for 24 percent of Pakistan’s gross domestic product (GDP) and 40 percent of employment, according to IFC. The investment will help address challenges such as inefficient supply chains, underfunded farmer programs, low literacy and rising input costs.

“At Standard Chartered, we are committed to financing solutions that enable sustainable growth and long-term resilience across Pakistan’s economy,” said SCB CEO Rehan Shaikh.

“This partnership with IFC and Engro Fertilizers reflects our shared vision of strengthening food security and supporting one of the country’s most critical value chains.”