ISLAMABAD: Pakistan's Prime Minister Shehbaz Sharif appointed new heads for the key petroleum and privatization portfolios on Friday, both departments seen as central to the country's recovery from an economic crisis.
Former junior finance minister Ali Pervaiz Malik was appointed as petroleum minister in a broader cabinet reshuffle.
His key task will be spearheading a major transaction in the Reko Diq copper and gold project.
Barrick Gold, which owns 50% of the project, is also in talks with railway authorities to revamp Port Qasim's coal terminal for copper transport, CEO Mark Bristow told Pakistan's Dawn News in January.
Muhammad Ali, formerly the special assistant to the prime minister on the power sector, has taken over as adviser for privatization. This follows Pakistan's failed attempt at offloading a 60% stake in debt-ridden airline PIA, which only received a single offer, well below the asking price.
Privatizing PIA and other state-owned enterprises is crucial for raising funds and reforming these entities under the ongoing $7 billion International Monetary Fund bailout program, set up to address an economic crisis stoked by surging inflation and a trade deficit caused by ballooning energy imports.
Bilal Azhar Kayani will take over as Pakistan's Minister for Railways.
The ministry is in talks with China to upgrade and reconstruct Pakistan's railway network, and develop the Gwadar port, under China's $65 billion investment in Pakistan, part of Beijing's Belt and Road Initiative.
Pakistan names new petroleum, privatization chiefs in cabinet reshuffle
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Pakistan names new petroleum, privatization chiefs in cabinet reshuffle
- New privatization minister’s appointment follows Pakistan's failed attempt at offloading 60% PIA stakes
- A new railway chief has also been appointed, with talks underway with China to upgrade the railway network
Pakistan says EU notes progress on rights commitments during GSP+ compliance discussions
- The review formed part of a wide-ranging EU-Pakistan Joint Commission meeting held in Brussels
- The two sides also covered irregular migration, climate cooperation and safe Afghan refugee return
ISLAMABAD: The European Union reviewed Pakistan’s compliance with its preferential GSP+ trade scheme this week and welcomed progress on key human rights commitments, according to a statement on Saturday, as Islamabad seeks to protect access to European markets vital for its export-led growth strategy.
The EU’s Generalized Scheme of Preferences Plus (GSP+) grants duty-free access to most European markets for eligible developing countries in return for their commitment to implement 27 international conventions covering human rights, labor standards, environmental protection and good governance. Pakistan, which has benefited from the scheme since 2014, is one of the biggest beneficiaries, with the EU its second-largest trading partner and a destination for roughly a third of its exports.
Pakistan’s GSP+ status has come under scrutiny in the past after, in April 2021, the European Parliament adopted a resolution calling for an immediate review, citing concerns over violence against religious minorities, curbs on media freedom and broader human rights issues. The move followed widespread anti-France protests in Pakistan over the publication of anti-Islamic caricatures, which EU legislators said raised questions about Islamabad’s commitment to fundamental freedoms.
“Both sides reviewed Pakistan’s progress on the implementation of the 27 international conventions as required under the GSP+ framework,” the foreign office said in a statement circulated in Islamabad. “The EU welcomed progress made in bringing Pakistan’s application of the death penalty in line with international standards and encouraged further steps in this regard.”
“It also recognised important first steps against torture, as well as the creation of a Commission on Minorities,” it added.
IRREGULAR MIGRATION, CLIMATE COOPERATION
The discussions took place during the 15th meeting of the EU–Pakistan Joint Commission, held in Brussels on Dec. 17, where officials also addressed irregular migration, including cooperation on the return and readmission of migrants without legal status, and legal mobility pathways under the bloc’s broader migration framework.
The foreign office statement came just a day after Greek authorities said they rescued more than 500 migrants from a fishing boat in the Mediterranean, adding that the group included several Pakistani nationals, highlighting continued migration pressures despite tighter controls.
Climate cooperation was another focus, with both sides reviewing ongoing collaboration on climate resilience, disaster risk reduction and sustainable development, areas of growing importance for Pakistan after repeated climate-related shocks.
The meeting also touched on the situation of Afghan refugees.
The statement said the EU welcomed the ongoing discussions between Pakistan and the UN refugee agency “to identify and compile a list of vulnerable cases, to ensure their adequate protection.”
“The EU appreciated that Pakistan is hosting millions of Afghan nationals for over four decades,” it continued. “They emphasised that any return must be safe, dignified and in line with international standards.”
The two sides agreed to continue engagement under the EU–Pakistan Strategic Engagement Plan, a framework guiding cooperation on political dialogue, trade, development, security and people-to-people exchanges, with the next joint commission meeting scheduled to be held in Islamabad next year.
