Pakistan says consensus reached with Saudi Arabia on investment modalities for GCC free trade agreement

Pakistan says consensus reached with Saudi Arabia on investment modalities for GCC free trade agreement
Pakistani commuters drive their vehicles under a banner welcoming Saudi Arabian Crown Prince Mohammed bin Salman displayed on a bridge, ahead of his arrival, in Islamabad on February 15, 2019. (AFP/File)
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Updated 04 December 2023
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Pakistan says consensus reached with Saudi Arabia on investment modalities for GCC free trade agreement

Pakistan says consensus reached with Saudi Arabia on investment modalities for GCC free trade agreement
  • The statement came a day after Pakistani commerce minister’s visit to the Kingdom to hold parleys with GCC officials 
  • During the visit, technical teams from both sides held extensive discussions on remaining details of the investment chapter 

ISLAMABAD: Pakistan and Saudi Arabia have reached a consensus on investment modalities with regard to a proposed free trade agreement (FTA) with the Gulf Cooperation Council (GCC), the Pakistani information minister said on Sunday. 

The statement came a day after Pakistan’s Caretaker Commerce Minister Gohar Ejaz’s visit to the Kingdom for the finalization of investment-related chapter of the FTA between Pakistan and the six-nation GCC bloc. 

Pakistan and the GCC signed a framework agreement to discuss the FTA in August 2004 but only a few rounds of negotiations took place in subsequent years. However, the GCC and Pakistan resumed the discussions in 2021 after a significantly long period. 

Last year, both sides held technical-level talks to examine the possibility of signing the agreement that could help Pakistan boost its exports to the six-nation bloc, which includes Saudi Arabia, the United Arab Emirates, Bahrain, Oman, Qatar and Kuwait. 

“Pakistan and Saudi Arabia have reached a consensus on the investment modalities, paving the path for the ratification of a much-awaited free trade agreement with the Gulf Cooperation Council, a development that has been pending for the last 19 years,” Information Minister Murtaza Solangi said on X. 

“If approved, this will mark the first trade and investment agreement that the GCC has entered into with any country in the past 15 years.” 

On Saturday, the Pakistani commerce minister held parleys with the GCC’s chief negotiator to finalize investment-related part of the proposed agreement. 

“The technical teams from two sides held extensive discussions on the remaining details of the investment chapter, including investment protection and facilitation,” the Pakistani commerce ministry said in a statement. 

“They also discussed the potential impact of the FTA on bilateral trade and investment flows.” 

The FTA is expected to boost trade and investment between Pakistan and the GCC, besides creating jobs and opportunities for businesses in both regions. 

The development comes as Pakistan treads a tricky path to economic recovery after securing a crucial $3 billion bailout deal with the International Monetary Fund (IMF) in June. 

Currently, the South Asian country has free trade agreements with China, Malaysia, and Sri Lanka, but it still needs to increase exports to other trade destinations. 


Pakistan anti-terrorism court rejects Imran Khan’s bail plea in May 9 riots case

Pakistan anti-terrorism court rejects Imran Khan’s bail plea in May 9 riots case
Updated 01 December 2024
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Pakistan anti-terrorism court rejects Imran Khan’s bail plea in May 9 riots case

Pakistan anti-terrorism court rejects Imran Khan’s bail plea in May 9 riots case
  • Khan is facing charges of inciting attacks against military and government installations on May 9, 2023
  • Judge notes Khan was found guilty of offenses, says found “no merits” in former premier’s bail petition

ISLAMABAD: An Anti-Terrorism Court (ATC) in Pakistan’s eastern city of Lahore this week rejected former prime minister Imran Khan’s request for bail in a case relating to nationwide riots that broke out in May 2023 after his brief detention on graft charges. 
Supporters of Khan’s Pakistan Tehreek-e-Insaf (PTI) party attacked and damaged government and military installations on May 9, 2023, after his brief arrest that day. The attacks took place a little over a year after Khan fell out with Pakistan’s powerful military, blaming the institution for colluding with his rivals to oust him from office in a parliamentary vote in April 2022. The military rejects his allegations. 
Several cases against Khan and his party related to the May 9, 2023 violence were registered by the government, which also cracked down on his supporters allegedly involved in the riots. Khan’s party has distanced itself from the protests and accused the country’s intelligence agencies of framing his party for the violence. The military denies the accusations. 
The ATC on Wednesday dismissed Khan’s petitions seeking post-arrest bail in eight May 9, 2023 cases, including an attack on a senior military commander’s residence. The judge had reserved the verdict in another case relating to an alleged attack on a police vehicle, which Justice Manzer Ali Gill announced on Saturday.
“Resultantly I found no merits in the bail petition in hand,” he said. “Hence the post-arrest bail of Imran Ahmad Khan Niazi stands dismissed.”
The judge noted in his written statement that Khan was not “an ordinary man,” adding that none within the PTI leadership even thinks about denying his directives. Gill said that as per police, all attacks on May 9 took place against military installations, police officials and government buildings, and that too on the same day. 
The judge observed that the prosecution accused Khan of hatching a criminal conspiracy to attack government buildings and military installations. 
“The offenses fall within the prohibitory clause of Section 497 of the Code of Criminal Procedure,” the judge noted. “Petitioner was found guilty.”
Khan, who remains a popular figure in Pakistan despite several court cases against him, has led a campaign of unprecedented defiance against the country’s powerful military. He also accuses the military of rigging the February 2024 polls in collusion with the election commission and his chief political rivals to keep him away from power. 
The military rejects these allegations and insists it keeps away from politics.


Pakistan calls for sustainable interventions, strengthening health systems on World AIDS Day

Pakistan calls for sustainable interventions, strengthening health systems on World AIDS Day
Updated 01 December 2024
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Pakistan calls for sustainable interventions, strengthening health systems on World AIDS Day

Pakistan calls for sustainable interventions, strengthening health systems on World AIDS Day
  • Around 88.4 million people in total have been affected HIV worldwide, says World Health Organization
  • Pakistan PM Shehbaz Sharif resolves to expand access to essential health care services to all Pakistani citizens

ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif called for strengthening health systems throughout the country and for sustainable interventions as the international community marks World AIDS Day today, Sunday.
Every year on Dec. 1, the international community marks World AIDS Day to unite people in the fight against HIV and AIDS. The day is marked to show strength and solidarity against Human Immunodeficiency Virus (HIV) and acquired immunodeficiency syndrome (AIDS), and to remember the lives lost to the disease. 
HIV attacks and destroys the infection-fighting CD4 cells (CD4 T lymphocyte) of the immune system while AIDS is its most advanced form. People with HIV who are not on medication and do not have consistent control of their HIV can transmit it through sexual intercourse, sharing of needles, pregnancy and breastfeeding. If HIV is controlled, the risk of transmission is close to zero.
“By working together, we will continue to strengthen our health systems and expand access to essential services for our citizens,” Sharif said in a statement. 
The Pakistani premier noted that HIV/AIDS remains a global health challenge and a significant socio-economic issue that threatens livelihoods, disrupts families and deepens inequalities.
“Despite our collective efforts, the HIV epidemic in Pakistan continues to grow, underscoring the need for bold, innovative, and sustainable interventions,” Sharif noted. “It is only through the strategy rooted in equality and inclusion that we can halt the spread of HIV.”
According to the World Health Organization (WHO), 88.4 million people have been infected with the HIV virus since the beginning of the epidemic and about 42.3 million people have died of HIV in total. 
Globally, 39.9 million people were living with HIV at the end of 2023. An estimated 0.6 percent of adults aged 15–49 years worldwide are living with HIV, although the burden of the epidemic continues to vary considerably between countries and regions.


Pakistan deputy PM rejects accusations Imran Khan supporters were shot dead in protests

Pakistan deputy PM rejects accusations Imran Khan supporters were shot dead in protests
Updated 01 December 2024
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Pakistan deputy PM rejects accusations Imran Khan supporters were shot dead in protests

Pakistan deputy PM rejects accusations Imran Khan supporters were shot dead in protests
  • Khan’s party shares death certificates allegedly of three supporters which says they were killed by gunshots
  • Ishaq Dar urges PTI to provide “graves” and “dead bodies” to prove claims, accuses protesters of being violent

ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar this week denied allegations the government had shot dead Imran Khan’s supporters in recent protests, as the former premier’s party alleged three of them were shot dead by law enforcers.
The PTI says at least 20 of its supporters were killed in this week’s clashes with law enforcers as thousands of Khan supporters marched toward Pakistan’s federal capital demanding Khan’s release from prison. The government rejects this and says four paramilitary personnel and a cop were killed by protesters.
On Saturday, the party shared the death certificates of three of its alleged supporters, Sardar Ali, Anees Shahzad Satii and Malik Mubeen, which said they were killed by gunshots. The certificates were prepared by the Pakistan Institute of Medical Sciences (PIMS) and Federal Government Services Hospital in Islamabad. 
“Deputy Prime Minister and Foreign Minister Ishaq Dar on Saturday strongly refuted allegations of state brutality and indiscriminate firing by law enforcement authorities during recent clashes with protesters,” the state-run Associated Press of Pakistan reported.
Dar described claims that Khan supporters suffered gunshot wounds and were subjected to unwarranted violence as “malicious” and “absolutely false,” urging them to provide evidence such as “graves and dead bodies” to substantiate the accusations.
The deputy premier said protesters came to the capital armed with heavy ammunition and tear gas canisters.
“The mob was determined to create chaos and ready to kill,” he was quoted as saying by the APP. “Our security and law enforcement agencies exercised maximum restraint with patience despite deaths within their ranks.”
The protest was called off after security forces raided the D-Chowk protest site in complete darkness soon after midnight on Wednesday, firing rubber bullets and tear gas, according to police and government officials who deny using live ammunition during the operation.
Rawalpindi police said this week that over 170 cops were injured in the protests and that police have arrested over 1,150 for clashing with law enforcers.


Pakistan to lock horns with Zimbabwe in first T20I in Bulawayo today

Pakistan to lock horns with Zimbabwe in first T20I in Bulawayo today
Updated 01 December 2024
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Pakistan to lock horns with Zimbabwe in first T20I in Bulawayo today

Pakistan to lock horns with Zimbabwe in first T20I in Bulawayo today
  • Pakistan beat Zimbabwe in a three-match ODI series 2-1 last month 
  • Salman Agha to lead Pakistan as Pakistan rest regular skipper Rizwan

ISLAMABAD: Pakistan will lock horns with Zimbabwe in the first of a three-match T20I series in Bulawayo today, Sunday, state-run media said, after completing a 2-1 ODI series victory over the hosts this week.
After losing the first ODI against Zimbabwe last month, Pakistan beat the hosts by convincing margins in the second and third ODIs in Bulawayo.
Skipper Salman Agha will lead his side in the T20 fixture against Zimbabwe on Sunday, with the next two matches to follow on Dec. 3 and 5.
“The first T20I match between Pakistan and Zimbabwe will start at 1:30 p.m. local time on Sunday,” the Pakistan Cricket Board (PCB) said in a statement on Saturday.
Pakistan announced late Friday that they were adding Saim Ayub, Aamer Jamal and Abrar Ahmed from the ODI squad into the T20I series following impressive showings over the past week.
The green shirts have rested Babar Azam, Naseem Shah and Shaheen Afridi from the tour while white-ball captain Mohammad Rizwan is also not part of the T20Is, with Agha taking his place as captain.
The match is scheduled to begin at 4:30 p.m. Pakistan Standard Time.


Pakistan hikes petrol price by Rs3.72 per liter for next fortnight

Pakistan hikes petrol price by Rs3.72 per liter for next fortnight
Updated 01 December 2024
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Pakistan hikes petrol price by Rs3.72 per liter for next fortnight

Pakistan hikes petrol price by Rs3.72 per liter for next fortnight
  • Government increases price after variations in petroleum products’ prices in international market, says Finance Division 
  • Pakistan revises petroleum prices every fortnight, which is also a key factor in increasing or reducing inflation in the country

ISLAMABAD: Pakistan has increased the price of petrol for the next fortnight by Rs3.72 per liter due to varying prices of petroleum products in the international market, the Finance Division said this week. 
Pakistan revises petroleum prices every fortnight. Petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers in Pakistan while any increase in the price of diesel is considered highly inflationary as it is mostly used to power heavy transport vehicles and particularly adds to the prices of vegetables and other eatables.
The price of petrol has increased from Rs248.38 per liter to Rs252.10 per liter after the Rs3.72 hike, the Finance Division said. 
“The Oil and Gas Regulatory Authority (OGRA) has worked out the consumer prices of petroleum products, based on the price variation in the international market,” it said on Saturday. 
According to the notification, the price of high-speed diesel has seen an increase of Rs3.29 per liter, raising its price to Rs258.43 per liter. 
Meanwhile, the price of kerosene oil has been reduced by Rs. 0.62 per liter, which means it is now being sold for Rs164.98. The price of light diesel oil has also seen a reduction of Rs0.48 per liter, lowering it to Rs151.73. 
Fuel prices in energy-starved Pakistan are instrumental in contributing to inflation. The South Asian country saw inflation reach a record high of 38 percent in May 2023. 
Pakistan’s finance ministry said this week that inflation, which was clocked at 7.2 percent in October, is expected to slow to 5.8-6.8 percent in November.