Thursday, 25 August, 2022 I 26 Muharram, 1444 I Rs 15.00 I Vol XIII No 56 I 12 Pages I Islamabad Edition
Qatar Investment authorIty aIms to Invest $3b In PakIstan g
FDI TO Be MADe IN vARIOuS COMMeRCIAl SeCTORS, SAyS eMIRI DIWAN
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He Qatar Investment Authority (QIA) plans to invest $3 billion in Pakistan, Qatar’s emiri Diwan said on Wednesday, lending support to the cashstrapped economy.
Pakistan is in economic turmoil and faces a balance of payments crisis, with foreign reserves having dropped as low as $7.8bn, barely enough for more than a month of imports. The country is also contending with a widening current account deficit, depreciation of the rupee against the uS dollar and inflation that hit more than 24 per cent in July.
“The Qatar Investment Authority announced its aspiration to invest $3bn in various commercial and investment sectors in the Islamic Republic of Pakistan,” the emiri Diwan said, without giving details. The announcement was made during a visit to Doha by Prime Minister Shehbaz Sharif, who held official talks with Qatari emir Sheikh Tamim bin Hamad al-Thani on Wednesday after a meeting with the QIA on Tuesday. “His Highness stressed the importance of the brotherly and strategic relations between the two countries and their aspiration to enhance economic partnership by raising trade exchange and promoting investments through the Qatar Investment Authority,” the emiri Diwan said. The prime minister’s visit to Qatar precedes an International Monetary Fund meeting next week that is expected to approve more than $1bn in financing that has been stalled since the beginning of the year. PM Shehbaz on Tuesday invited QIA, Qatar’s $450bn sovereign wealth fund, to invest in Pakistan’s energy and aviation sectors. He had previously said he would highlight sectors including renewable energy, food security, industrial and infrastructure development, tourism and hospitality. Sources close to the premier have said he was expected to offer Qatar shares in stateowned enterprises including the loss-making Pakistan International Airlines and the Roosevelt Hotel in New york.
PM urges to accelerate relief operations in flood-affected areas ISLAMABAD staff report
Prime Minister Shehbaz Sharif on Wednesday directed the authorities to expedite rescue and relief operations in flood-affected areas, considering the prediction of more rains in those areas. The prime minister, who is currently on a state visit to Qatar, is monitoring the rescue and relief efforts in the country being taken for the flood-stricken people. He directed the National Disaster Management Authority (NDMA) and all the relevant ministries and departments to collab-
orate with one another as consecutive rain spells were deteriorating the flood-caused destruction. He said as the flash floods had inflicted huge losses on the people, it was the nation’s responsibility to support their countrymen. “The rehabilitation in the calamity-hit areas is a gigantic task. This is possible only through collective efforts,” the prime minister said and requested the local and international charity organizations to extend their support for the rehabilitation of the affected population.
Pakistan reiterates call for joint probe into ‘accidental firing’ of Indian supersonic missile ISLAMABAD staff report
Pakistan on Wednesday rejected India’s “purported closure” of the inquiry into “accidental firing” of a supersonic missile into the country on March 9, 2022, reiterating the demand for a joint probe into the incident. Indian Air Force on Tuesday said the government had sacked three officers involved in the firing. “A Court of Inquiry, set up to establish the facts of the case, including fixing responsibility for the incident, found that deviation from the Standard Operating Procedures by three officers led to the accidental firing of the missile,” it said in a statement. The BrahMos missile — a nuclear-capable, landattack cruise missile jointly developed by Russia and India — was fired earlier this year, prompting Pakistan to seek answers from New Delhi on the safety mechanisms in place to prevent accidental launches. In a statement today, Foreign Officer (FO) spokesperson Asim Iftikhar Ahmad said that it had seen India’s announcement of the findings regarding the incident and the decision to terminate the services of three officers reportedly found responsible for the reckless incident. “As expected, the measures taken by India in the aftermath of the incident and the subsequent findings and punishments handed by the so-called internal Court of Inquiry are totally unsatisfactory, deficient, and inadequate.” The spokesperson claimed that India had not only failed to respond to Pakistan’s demand for a joint inquiry but also evaded the questions raised by the country regarding the command and control system in place in India, the safety and security protocols, and the reason for its delayed admission of the Missile launch. “Systemic loopholes and technical lapses of serious nature in the handling of strategic weapons cannot be covered up beneath the veneer of individual human error,” he said, asserting that if the neighbouring had nothing to hide then it must accept Pakistan’s demand for a joint probe in the “spirit of transparency”. The FO spokesperson called India’s action over the March 9 firing “imprudent”, pointing out that it had jeopardized the peace and security environment of the entire region. “Pakistan’s demonstration of exemplary restraint is a testament to our systemic maturity and abiding commitment to peace as a responsible nuclear state,” he said. The FO reiterated that Pakistan wanted the Indian government to immediately provide specific responses to the queries raised after the incident and accede to its call for a joint probe.
Another long march: Imran tells nation to wait for his call HARIPUR/ISLAMABAD staff report
Pakistan Tehreek-e-Insaf chairman and former prime minister Imran Khan on Wednesday while reiterating his demand for early elections, urged the party workers and his supporters to await his call to steer the country out of the quagmire. “We have to free Pakistan from these thieves,” Imran declared while addressing a crowded public meeting in Haripur, Khyber-Pakhtunkhwa (KP) PTI Chairman Imran Khan asked of the entire nation to prepare and wait for his call, warning Prime Minister Shehbaz Sharif that his government would not be able to stop the sea of people when they will gather in Islamabad from all four provinces. Referring to the visit of Premier Shehbaz to Qatar, Imran Khan said that Shehbaz Sharif, along with 40 other “thieves”, had gone to Qatar for “begging”, adding but no one will give them money as everyone knows that they [in-
cumbent rulers] are thieves. The PTI chief maintained that fresh and fair elections are necessary for the political and economic stability in the country. Imran told the participants of the rally that 220 million people were being enslaved through a “regime change conspiracy.” Imran said that Pakistan was defamed for registering a case with terrorism charges against him. “The imported government has planned to arrest me as if I were a major terrorist.” He said that the Indian government never makes a decision where it sacrifices the lives of its citizens for someone else. “We lost lives of 80,000 Pakistanis for participating in the American war… We will not sacrifice our people for any country for the sake of our foreign policy.” The PTI chief said that when his government tried to buy cheap oil from Russia, they were removed from power via a conspiracy and an “imported government” was imposed upon the nation.
“The nation will never accept them and I will stand for the rights of my nation,” he added. The ousted premier said that PTI leader Shahbaz Gill left his job in the uS and came to Pakistan but he was sent to jail. “What did I say that cases were registered against me,” he questioned. He said that the PTI was not against institutions. “We have only one demand and that is to conduct free and transparent elections in the country.” He further said that he is preparing people from all over the country to protest, urging everyone to wait for his call. DYING DUE TO FLASHFLOODS: The former premier said that the people of Balochistan and Sindh are dying of flashfloods but the prime minister was making foreign tours with a “bagging bowl.” “Incumbent rulers have left people helpless in these difficult times,” he added. PTI RALLIES ScHEDULE: The former prime minister had announced to hold 17 public gatherings in a bid to build
pressure on the ruling coalition for announcing general elections as soon as possible. According to the schedule announced by PTI, the PTI chairman will address a rally in Karachi on August 26. The PTI will also hold power shows in
Sukkur on August 27, in Peshawar on August 28, in Jhelum and Attock on August 29 and on August 31 respectively. Moreover, PTI will hold massive public meetings in Sargodha and Gujarat on September 1 and September 2, respectively.