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Friday, 6 October, 2023 I 19 Rabi ul Awwal, 1445
FM REAFFIRMS PAKISTAN’S COMMITMENT TO FURTHER STRENGTHEN BILATERAL TIES WITH AFGHANISTAN
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TIBET, CHINA
MEETS MONGOLIA’S DY PM, AGREES TO ENHANCE COOPERATION IN MINING, AGRI, TEXTILE SECTORS
STAFF REPORT
NTERIM Foreign Minister Jalil Abbas Jilani on Thursday met Afghan counterpart Amir Khan Muttaqi in Tibet and discussed the challenges confronting regional peace and stability. FM Jilani is in China on a two-day visit to participate in the third Trans-Himalayan Forum for International Cooperation, being held in Nyingchi, Tibet autonomous region, from October 4-5. The Trans-Himalaya Forum, established in 2018, aims at fostering collaboration among regional nations on geographical connectivity, environmental conservation, ecological preservation, and the strengthening of cultural ties. According to a statement released by the Foreign Office on X on Thursday, Jilani met Afghan Foreign Minister Muttaqi. During the meeting, Jilani reaffirmed Pakistan’s commitment to further strengthen bilateral ties with Afghanistan. He also underscored that challenges confronting regional peace and stability should be addressed in a “collaborative spirit through collective strategies”. The meeting comes two days after Pakistan gave an ultimatum to all undocumented immigrants, including Afghan nationals, to leave Pakistan by October 31, or risk imprisonment and deportation to their respective countries. The decision was taken in an apex committee meeting headed by Prime Minister Anwaarul Haq Kakar and attended by the army chief, among others. The committee also decided
that movement across the border would be subject to passports and visas, while electronic Afghan identity cards (or e-tazkiras) would only be accepted until Oct 31. After the passage of the deadline, the authorities will kickstart an operation targeting illegal properties and businesses owned by immigrants or those being run in collaboration with Pakistani nationals. The move had drawn a response from Afghan authorities, with Afghan Taliban spokesman Zabihullah Mujahid terming it “unacceptable” while urging authorities to revisit the policy. Also, at least two people were killed and a child sustained injuries a day earlier when an Afghan sentry opened fire on pedestrians at the Pak-Afghan Chaman Border in Balochistan. MEETING WITH MONGOLIA’S DY PM: Earlier, Caretaker Foreign Minister Jalil Abbas Jilani met Mongolia’s Deputy Prime Minister Sainbuyan Amarsaikhan and held a discussion with him on bilateral relations, reported on Thursday. Both leaders agreed to deepen trade and economic cooperation in the mining,
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agriculture and textile sectors. PAK-NORWAY BILATERAL CONSULTATIONS: On the other hand, the 12th round of bilateral political consultations between Pakistan and Norway was
held at the Ministry of Foreign Affairs. The Pakistani delegation was led by Additional Secretary (Europe) Muhammad Salim and the Norwegian delegation was led by Director General for Regional Affairs Vebjorn Dysvik. The two sides reviewed the progress made after the last bilateral political consultation held in 2021. They also agreed to further strengthen cooperation in areas including investment, climate change, renewable energy and higher education. The Norwegian delegation was also briefed about the recently established Special Investment Facilitation Council (SIFC) by the Government of Pakistan. The delegation was invited to explore investment opportunities under the SIFC.
Operation against illegal immigrants not targeted against particular nationality: FO ISLAMABAD: Pakistan has categorically stated that ongoing operation against illegal immigrants is not targeted against any particular nationality. Responding to questions at weekly news briefing in Islamabad on Thursday, Foreign Office Spokesperson Mumtaz Zahra Baloch said the ongoing action envisages repatriation of individuals who have either overstayed their visas or do not have the valid documents to stay. She said Pakistan is all within parameters of its sovereign domestic laws to take action in this context. She clarified this operation has nothing to do with 1.4 million Afghan refugees that Pakistan has been hosting since decades with exemplary generosity and hospitality despite its own constrained economic situation. The spokesperson said Pakistan’s national policy on Afghan refugees remains unchanged and their safe and honorable repatriation is a separate matter on which it continues to engage with Afghanistan to create conducive environment for their safe return. STAFF REPORT
PM emphasizes importance of disaster resilient infrastructure, policy framework ISLAMABAD
STAFF REPORT
Caretaker Prime Minister Anwaar-ul-Haq Kakar on Thursday Inaugurated the newly established state-ofthe-art National Emergencies Operation Center (NEOC) established at the National Disaster Management Authority (NDMA) Headquarters, to help in coordinated efforts to manage the natural disasters in the future. The NEOC would also help in disaster risk reduction and mitigation of damages. Lauding the establishment of NEOC, Anwaarul Haq Kakar emphasized the importance of disaster re-
silient infrastructure and policy framework. He said that despite being one of the least contributors of carbon emissions globally, Pakistan was one of the top countries affected by climate change. “Climate change is a real challenge that will keep haunting our future generations unless we take such concrete steps”, he reiterated. The prime minister also praised the coordinated efforts of all state institutions during the devastating floods of 2022, especially NDMA. “Nearly one third of the population of the country was affected by floods in 2022 and USD 30 billion was estimated to be the economic losses. He said that the world needed to step forward and
help developing countries like Pakistan to cope up the adverse effects of climate change”, he said. He also praised the role of NCOC both in COVID-19 and 2022 floods. In a briefing, Prime Minister Kakar was told that NEOC would serve as hub of all technological inputs related to climate change, disasters management and predictive modeling for national emergencies. First of its kind in Pakistan and the region, this is Pakistan’s indigenously conceptualized capability, which will evolve capacity to predict future disasters with credence and accuracy about likely locations, time of impact and damage intensity.
EU MEPs approve extension of Pakistan’s GSP status till 2027 g
SIXTY DEVELOPING COUNTRIES TO ENJOY REDUCED DUTIES ON EXPORTS UNDER GSP STATUS PROFIT
GHULAM ABBAS
Members of the European Parliament (MEPs) have voted in favour of extending Pakistan’s Generalised System of Preferences (GSP) status, along with other developing countries, for an additional four years, maintaining it until the year 2027. Dr. Gohar Ejaz, Federal Minister of Commerce and Industry, broke the news via Twitter on Thursday, expressing his satisfaction with the MEPs’ decision to continue the Generalised Scheme of Preferences (GSP) until 2027. He also highlighted that the European Council is expected to grant final approval for this extension in the near future. The Generalised Scheme of Preferences (GSP) is a trade arrangement that allows developing countries to pay lower or zero tariffs on their exports to developed countries. The scheme has been in place since 1971. For countries meeting specific economic vulnerability criteria and ratifying and implementing 27 international conventions on human and labour rights, environmental standards, and good governance, the EU entirely waives customs duties on select products. This policy covers over 60 countries and benefits around two billion people. The aim of GSP programs is to promote economic development in these developing nations by providing them with improved access to international markets. For Pakistan, the GSP+ arrangement provides generous tariff preferences, primarily involving zero duties on approximately two-thirds of product categories. It aims to promote sustainable development and good governance. MEPs are individuals elected by the citizens of the European Union member states to represent them in the European Parliament, which is one of the EU’s legislative bodies. The matter of Pakistan’s GSP status extension had been deliberated upon by the European Parliament’s Committee on International Trade (INTA). The extension of these trade privileges, which offer Pakistan preferential access to EU markets, still awaits the approval of the European Council. Pakistan remained hopeful about the outcome, as no objections emerged within the EU committee during the scheduled meetings on September 18th and 19th. In his tweet, Dr. Ejaz underscored Pakistan’s commitment to the GSP scheme, emphasising its role in advancing the well-being of all involved parties. He extended his gratitude to the EU Parliament for honouring its commitment to facilitating trade from developing nations. While the proposal to extend Pakistan’s GSP status may seem straightforward, it is vital to note that Pakistan’s continuation under the GSP+ arrangement is subject to regular reviews conducted by the EU, occurring every two years. The findings of the most recent review remain undisclosed, introducing an element of uncertainty into Pakistan’s hopes for an extension.
Rs3.126tr added to Pakistan’s total debt in first two months of FY23-24: SBP PROFIT
SHAHZAD PARACHA
The Federal government’s total debt surged by Rs 3.126 trillion to Rs 63.966 trillion between Jul-Aug, of the current fiscal. According to the State Bank of Pakistan’s (SBP) monthly public debt report, the central government domestic debt has increased by Rs 982 billion from Rs 38.809 trillion to Rs 39.792 trillion during the first
two months of the current fiscal year. Out of total domestic debt, long term debt increased to Rs 30.013 trillion from Rs 29.588 trillion, whereas the short term debt increased to Rs 9.633 trillion from Rs 9.335 trillion during the same time period. According to a report, the government raised Rs 564 billion and Rs 85 billion through the floating of GOP Ijara Sukuk and Pakistan Investment Bonds (PIBs) respectively. In addition, the government has also raised Rs 295
billion through Market Treasury Bills during the first two months of the current fiscal year. The public debt against the treasury bills, increased to Rs 9,564 billion from Rs 9,269 billion up to Aug 2023. Meanwhile, the debt stock against the Naya Pakistan Certificates surged from Rs 142.7 billion to Rs 145.5 billion till August 2023. The data shows that the external debt was increased by Rs 2143.7 billion to Rs 24.174 trillion from 22.031 trillion during the
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first two months of the current fiscal year. According to the SBP, the external debt surged mainly due to depreciation of local currency against Pakistani rupee. Apparently, the main contributing factor in increasing the size of external debt in terms of PKR was free fall of local currency against the US due to smuggling and ban on imports by successive governments. According to the SBP data, the local currency fell by Rs19 against USD during the
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first two months of the current fiscal year. The State Bank calculated Rs 286.39/USD on June 30, 2023 which was depreciated to Rs 305.61/USD in Aug 2023. Report states that the federal govt has borrowed $2.18 billion from external sources excluding IMF tranche which was received during the period. Overall, the total debt was increased from $ 76.92 billion to $79.10 billion during the first two months of the current fiscal year.