Tag: Pakistan

Pakistan submits draft report on terror funding to FATF ahead of plenary: Report
5Sep mmBy Mike TrudellNo Comments
World

Pakistan submits draft report on terror funding to FATF ahead of plenary: Report

Pakistan has submitted its initial draft report to the joint group of Financial Action Task Force (FATF), showing compliance of the remaining 13 points out of 27 action points pertaining to terror funding.The first draft was sent to the FATF on August 6. Sources said that Pakistan would share its updated version of the progress report to the FATF in the first week of September."A face to face virtual meeting of FATF review group is scheduled to take place from September 14 to 21 where Pakistani authorities will be given an opportunity to defend their position with full force," a top official said.“In the FATF plenary meet, it would be decided whether Pakistan will be continued to be kept in the grey list or get promoted or demoted to blacklist after verifying the compliance on the majority...
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Retired Brigadier Shuja Hassan Appointed as CEO of Pakistan Steel Mills
31Aug mmBy Joe RodriguezNo Comments
Asia

Retired Brigadier Shuja Hassan Appointed as CEO of Pakistan Steel Mills

Pakistan’s federal government in a notification has appointed retired Brigadier Shuja Hassan as the Chief Executive Officer of Pakistan Steel Mills (PSM).According to the notification, Retired Brigadier Shuja Hassan has been appointed for one year and the appointment is subject to termination by both the parties on one month's notice.The qualification of the priority candidate is MSc (Hons) War Studies 2002, MSc (Hons) Defence and Strategic Studies2006. The experience of the candidate includes Experience in Army only Internal Posting Transfer in GHQ Corps HQ and Brigade HQ and Regimental Units.The government’s Pakistan Steel Mills (PSM) “disposed off” plan appears to be in the doldrums after recent seemingly strong observations of the Supreme Court of Pakistan.The Ministry of Industries an...
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Pakistan FM Qureshi faces criticism for slamming Saudi Arabia over Kashmir
28Aug mmBy Mike TrudellNo Comments
World

Pakistan FM Qureshi faces criticism for slamming Saudi Arabia over Kashmir

Pakistan's Foreign Minister Shah Mehmood Qureshi is facing heat over his remarks against Saudi Arabia for refusing to interfere on Kashmir issue.The differences in their relations surfaced when Pakistan was made to pay back USD 1 billion to Saudi Arabia. This reflected the fact that Islamabad is gradually losing the support of other Muslim countries.Recently two Pakistani journalists -- Rauf Klasra and Amir Mateem -- held a discussion on the sudden policy shift of Saudi Arabia towards Pakistan."Sometimes Qureshi speaks emotionally. He gets carried away," Mateem said.“As Pakistan, which is in a financial crisis, is dependent on Saudi Arabia, Qureshi should have been cautious of making any statements”, he said, adding: "As we are very much dependent on Saudi Arabia, we should complain only t...
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Pakistan’s Defence Housing Authority Bahawalpur, three business groups sign MoUs
26Aug mmBy Mike TrudellNo Comments
Asia

Pakistan’s Defence Housing Authority Bahawalpur, three business groups sign MoUs

Pakistan’s Defence Housing Authority (DHA) Bahawalpur has signed MoUs with three renowned business groups in order to build premier and smart residencies for the people of Bahawalpur city.MoUs were signed with PACE Pakistan (Pvt) Ltd, for construction of modern shopping mall and affordable housing units in DHA Bahawalpur; Delta Centauri Real Estate Development, for establishment of theme park and signature villas; and SOLIS Energy Solutions, for provision of green and clean energy solution including smart metering.At the occasion, General Officer Commanding 35 Div, Major General Muhammad Ejaz Mirza said that the MoUs will add customer confidence and “will surely add further colors to the canvas of DHA Bahawalpur”.Welcoming the guests, Project Director DHA, Brig Muhammad Usman said that 21s...
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Saudi Arabia defers to renew pact to supply oil to Pakistan on deferred payments
26Aug mmBy Michael SmithNo Comments
USA

Saudi Arabia defers to renew pact to supply oil to Pakistan on deferred payments

Saudi Arabia is yet to renew an agreement worth $3.2 billion with Pakistan that allows oil supplies on deferred payments after that pact expired two months back and decision about its renewal remains pending with Riyadh.According to media reports, the $3.2 billion Saudi oil facility was part of the $6.2-billion Saudi Arabian package announced in November 2018 to ease Pakistan’s external sector woes.“Pakistan has already prematurely returned $1 billion Saudi loan - four months ahead of its repayment period. Pakistan could also return $2 billion remaining Saudi cash loan, subject to availability of similar facility from China. The agreement over $3 billion cash support and $3.2 billion oil facility per annum had the provision of renewal for two more years…Saudi Arabia has not provided the oi...
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Pakistan promoting anti-India propaganda to distract its citizens from mishandling of COVID-19, economy: Expert
24Aug mmBy Mike TrudellNo Comments
Asia

Pakistan promoting anti-India propaganda to distract its citizens from mishandling of COVID-19, economy: Expert

Despite a significantly improved security situation and dip in terror attacks in Jammu and Kashmir, following the abrogation of Article 370 on August 5 last year, Pakistan continues its propaganda and anti-Indian vitriol, according to The National Interest.Michael Rubin, a resident scholar at the American Enterprise Institute, in an article explains how Pakistan Prime Minister Imran Khan has issued a directive to the press for describing Kashmir, Pakistani journalists, risk their employment if they do not use their government's nomenclature regarding Kashmir and forcing them to wear black solidarity armbands. The journalists are forced to term India's actions in Kashmir as "demographic apartheid" and "military siege" instead of "lockdown." Distracting its people from mishandling of COVID-1...
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Cannot mediate in Pakistan-India water dispute: World Bank
24Aug mmBy Mike TrudellNo Comments
World

Cannot mediate in Pakistan-India water dispute: World Bank

In the long outstanding water dispute between India and Pakistan, the World Bank has refused to take an independent decision on appointment of a neutral expert or court of arbitration saying the two countries will have to bilaterally choose one option.The World Bank’s former Country Director of Pakistan, Patchamuthu Illangovan said, “Both India and Pakistan should come together as to which option to take forward.”Pakistan had made a request for appointment of a Court of Arbitration (COA) while India had sought a neutral expert to resolve their dispute on two hydroelectric projectsHowever, Illango said because of two conflicting positions under the 1960 Indus Waters Treaty, the World Bank was facilitating the two governments to find ways in resolving differences and move forward.“There is n...
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Pakistan’s NA committee slams ‘non-serious’ attitude to meeting FATF conditions
15Aug mmBy Joe RodriguezNo Comments
Asia

Pakistan’s NA committee slams ‘non-serious’ attitude to meeting FATF conditions

Pakistan’s National Assembly’s Standing Committee on Finance and Revenue has slammed the government as it lags behind in its compliance with 27-point action plan and 40 recommendations of the Financial Action Task Force (FATF).The government faced heat from the National Assembly’s Standing Committee on Finance and Revenue led by MNA Faiz Ullah of the PTI for wasting precious time of the nation without making tangible progress.With deadlines looming next month, Pakistan’s compliance with 27-point action plan and 40 recommendations of the Financial Action Task Force (FATF) stands at 14 and 10 respectively.While the committee decided to refer three proposed bills — Anti Money Laundering, Limited Liability Partnership and Companies Bill — relating to the FATF to another parliamentary meeting o...
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Pakistan jolts all-weather ally China, warns its app TikTok, blocks Bigo Live
31Jul mmBy Joe RodriguezNo Comments
Asia, Singapore

Pakistan jolts all-weather ally China, warns its app TikTok, blocks Bigo Live

Pakistan has given a big jolt to the business ambition of Chinese tech firms in the country by issuing a “final warning” to video-sharing app TikTok over obscene and immoral content and blocking the Bigo Live streaming application.Such moves from Pakistan is unexpected for China, since it was Beijing which has invested billions of dollars in the country.The Pakistani establishment's unhappiness with theses Chinese social media applications is not overtly linked to security or geopolitical issues like India that banned 59 Chinese apps on security grounds.The United States is also seriously mulling a ban on TikTok, alleging that it's a front for data mining and all user data is shared with the Chinese government. TikTok is under scrutiny in Australia too for similar reasons.So even if there ...
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Pakistan saw highest inflation in the world during 2020: SBP
20Jul mmBy Mike TrudellNo Comments
Asia

Pakistan saw highest inflation in the world during 2020: SBP

The State Bank of Pakistan (SBP) has said that fiscal year 2020 was the worst year for Pakistani citizens as they witnessed highest inflation in the world forcing policy makers to increase interest rate.“Pakistan witnessed highest inflation not only in comparison with the developed economies but also with emerging economies,” said the Inflation Monitor for April issued by SBP.The Bank pushed up its interest rates to cool down the inflationary pressure during the fiscal year but high rates proved counterproductive as they further increased inflation while the private sector stopped borrowing costly money hampering industrial growth and services.January witnessed 12-year high inflation at 14.6 per cent. In response to the rising prices, the SBP rose the interest rates to 13.25pc.However, wit...
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