Pakistan’s ex-finance minister held over $16bn Qatar gas deal

Pakistan's former finance minister Miftah Ismail speaks with Reuters in Islamabad. (Reuters/File)
Updated 08 August 2019

Pakistan’s ex-finance minister held over $16bn Qatar gas deal

  • Ismail is also being investigated for allegedly granting a 15-year contract for an LNG terminal in Karachi to a “favored” company

ISLAMABAD: Pakistan’s former Finance Minister Miftah Ismail was arrested on Wednesday following investigations by the country’s anti-corruption watchdog into a multibillion-dollar liquefied natural gas (LNG) import contract with Qatar.

Ismail was as an adviser to former Prime Minister Nawaz Sharif in 2017 and was later appointed federal minister for finance for a month. He is considered to be a close aide of Shahid Khaqan Abbasi, the opposition Pakistan Muslim League-Nawaz (PML-N) vice president and former premier who finalized the $16 billion deal with Qatar during his time as petroleum minister.

The deal with Qatar was agreed in 2015 for a period of 15 years.

Abbasi is already held by the National Accountability Bureau (NAB) in connection with the LNG case, which the anti-corruption agency claims caused a loss of $2 billion to the Pakistan treasury.

“My client is innocent as there is no evidence of corruption or embezzlement in the LNG deal against him,” Haider Waheed, the lawyer representing Ismail, told Arab News after his client’s pre-arrest bail was rejected.

Waheed accused the NAB of “political victimization,” saying the LNG deal was finalized before Ismail took charge of his office in the PML-N government. “This is a long legal battle now and we will continue challenging the NAB’s abuse of power,” he said.

FASTFACT

Anti-corruption watchdog faces claims of ‘political victimization.’

Ismail is also being investigated for allegedly granting a 15-year contract for an LNG terminal in Karachi to a “favored” company. He denies the allegation.

Sheikh Imran ul-Haque, former managing director of Pakistan State Oil, was also arrested on Wednesday in the LNG case.

Pakistan, a country of 208 million people, is running out of domestic gas and has turned to LNG imports to alleviate chronic energy shortages that have hindered its economy and led to a decade of electricity blackouts. 

The country imports 500 million cubic feet per day of LNG from Qatar under a 15-year agreement at 13.37 percent of Brent crude price. Under the government-to-government agreement, the price can only be reviewed after 10 years of the contract.

In Pakistan, the NAB’s anti-corruption campaign has become a topic of fierce political debate, and its focus on Prime Minister Imran Khan’s political foes has prompted accusations of a one-sided purge. The government denies targeting political opponents.

Khan won power last year vowing to root out corruption among the country’s political elite and views the investigations into veteran opposition politicians as long overdue.

“This is the worst kind of political victimization by Imran Khan’s government,” Senator Mushahidullah Khan told Arab News. “This government is trying to hide its inefficiency and incompetence by jailing opposition leaders who have served this country with dignity.”

Khan rejected allegations of corruption and kickbacks in the LNG deal, saying that gas imports had helped the country revive a crumbling industry and create millions of jobs.

“Instead of thanking us for ending hours-long blackouts, the government is putting our leaders in jail for nothing,” he said.


Interpol warns of ‘alarming’ cybercrime rate during pandemic

Updated 04 August 2020

Interpol warns of ‘alarming’ cybercrime rate during pandemic

  • Cybercriminals are increasingly using disruptive malware against critical infrastructure and health care institutions
  • There was also an increase in the spread of fake news and misinformation which sometimes itself conceals malware

LYON: Global police body Interpol warned Monday of an “alarming” rate of cybercrime during the coronavirus pandemic, with criminals taking advantage of people working from home to target major institutions.
An assessment by the Lyon-based organization found a “significant target shift” by criminals from individuals and small businesses to major corporations, governments and critical infrastructure.
“Cybercriminals are developing and boosting their attacks at an alarming pace, exploiting the fear and uncertainty caused by the unstable social and economic situation created by COVID-19,” said Interpol Secretary General Juergen Stock.
“The increased online dependency for people around the world is also creating new opportunities, with many businesses and individuals not ensuring their cyberdefenses are up to date,” he added.
The report said cybercriminals were sending COVID-19 themed phishing emails — which seek to obtain confidential data from users — often impersonating government and health authorities.
Cybercriminals are increasingly using disruptive malware against critical infrastructure and health care institutions, it added.
In the first two weeks of April 2020, there was a rise in ramsomware attacks, in which users have to pay money to get their computer to work again.
There was also an increase in the spread of fake news and misinformation which sometimes itself conceals malware, said Interpol.
From January to April, some 907,000 spam messages, 737 incidents related to malware and 48,000 malicious URLs — all related to COVID-19 were detected by one of Interpol’s private sector partners, it said.
The agency warned the trend was set to continue and a “further increase in cybercrime is highly likely in the near future.”
“Vulnerabilities related to working from home and the potential for increased financial benefit will see cybercriminals continue to ramp up their activities and develop more advanced and sophisticated” methods, it said.
Once a COVID-19 vaccine becomes available, Interpol said, “it is highly probable that there will be another spike in phishing related to these medical products as well as network intrusion and cyberattacks to steal data.”