One killed, 44 injured in oil tanker explosion in southwestern Pakistan

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Updated 29 April 2025
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One killed, 44 injured in oil tanker explosion in southwestern Pakistan

One killed, 44 injured in oil tanker explosion in southwestern Pakistan
  • Oil tanker exploded after it caught fire due to welding work nearby, say police
  • Twenty-one injured being shifted to Karachi for treatment, says health official

QUETTA: One person was killed while 44 others were injured in southwestern Pakistan this week when an oil tanker exploded after catching fire, a government official confirmed on Tuesday.
The incident took place at an oil depot in Balochistan province’s Nushki city on Monday afternoon when a tanker filled with fuel caught fire due to welding work nearby, police said. In footage widely shared on social media platforms, dozens of people can be seen fleeing the tanker as it explodes, with thick black smoke and flames leaping into the sky. 
Nushki Deputy Commissioner Amjad Soomro told Arab News 44 people standing close to the burning oil tanker were injured after it exploded. Nushki police said the driver of the tanker drove the burning vehicle from the oil depot and parked it in an open field. 
“The driver who drove the burning tanker out from an oil depot was killed on the spot,” Soomro told Arab News.
Waseem Baig, the spokesperson for the provincial health department, said 35 people were admitted to the Civil and Bolan Medical hospitals on Monday for burn injuries.
“Twenty-one injured of the Nushki oil tanker explosion are being shifted to Karachi due to severe burn wounds via the army’s C-130 airplane,” Baig said. 
Balochistan Chief Minister Sarfraz Bugti expressed grief over the incident, directing authorities to provide immediate and quality medical care to the injured, as per Pakistani newspaper Dawn.
“A complete and transparent investigation into the Nushki incident has been ordered,” Bugti was quoted as saying by Dawn. 
Oil tanker explosions can be caused by several factors such as collisions, overheating of the engine or overfilling which can build unnecessary pressure on the tank. 
In 2017, 212 people were killed in Pakistan when a tanker carrying 40,000 liters of fuel overturned after trying to make a sharp turn while traveling from Pakistan’s Karachi city to Lahore on a highway.


Builders say without tax cuts in budget, capital flight to Gulf, Western real estate to continue 

Builders say without tax cuts in budget, capital flight to Gulf, Western real estate to continue 
Updated 19 sec ago
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Builders say without tax cuts in budget, capital flight to Gulf, Western real estate to continue 

Builders say without tax cuts in budget, capital flight to Gulf, Western real estate to continue 
  • Association of Builders says capital flight to reach $30 billion by 2028 unless taxes on construction industry rationalized 
  • Capital flight driven by high transaction taxes, economic uncertainty, more favorable taxes, higher returns in foreign markets

KARACHI: The flight of capital from Pakistan to the UAE, Saudi Arabia, the UK and other investor-friendly nations could rise to $30 billion in the next five years if the government failed to rationalize taxes on the construction industry in the FY26 budget next month, builders and developers said this week.

The outflow of capital from Pakistan is driven by factors like high transaction taxes, economic uncertainty, and the perception of a more favorable tax environment and higher returns in international markets. This trend is particularly pronounced in the UAE, where Pakistani investors have made significant investments in real estate. 

Pakistan’s tax policy on real estate has been criticized for being high compared to regional and international benchmarks while countries like the UAE offer lower tax rates and more attractive returns on real estate investments. Political and economic instability in Pakistan have also discouraged investment and led to capital flight as investors seek safer, more stable markets. 

Pakistan’s construction industry, with its 10 million skilled and unskilled employees, is the second biggest employer after agriculture but its contribution to the gross domestic product has declined more than six percent to 2.6 percent in the last four years.

“Unfortunately, due to the prevailing economic conditions in Pakistan, a lot of builders and developers have already transferred their money out of Pakistan and are constructing projects in UAE, Saudi Arabia and other countries,” Mohammad Hassan Bakhshi, chairman Association of Builders and Developers of Pakistan (ABAD), told Arab News in an interview in Karachi.

In Pakistan, housing is a heavily-taxed industry, with taxes ranging from as much as 40 percent property transfer tax to 60 percent levy on builders and developers earning more than Rs 150 billion ($532 million).

These taxes are “too high,” the ABAD chairman said, suggesting that the property transfer tax be reduced to five or six percent.

By 2022, Pakistanis had invested $12 billion in the UAE, which was expected to increase to $25 billion this year and $30 billion by 2030, said Bakhshi, citing data from the Federal Board of Revenue, the state tax collector.

“Big builders and developers of Pakistan have already shifted or are in process of shifting their capital, their investment,” and entrepreneurship skills to Saudi Arabia, Dubai, the US and UK, the ABAD chief added. 

Pakistan’s construction industry has Rs 90 trillion ($319 billion) cash capitalization, 10 times bigger than Pakistan Stock Exchange’s Rs 10 trillion ($35 billion). The size of Pakistan’s total budget for FY26 is expected to be Rs 17 trillion, according to local media reports.

“OPTIMISTIC”

Pakistan, the world’s fifth most populous nation, is facing a 12 million housing shortage that industry stakeholders say can be turned into an opportunity by the government to create economic activity and spur growth.

Arshad Mehmood Awan, an Islamabad-based real estate professional and CEO of Homy Properties, said the government could reduce the shortage of residential units by launching affordable housing projects and making bank loans accessible online in the new budget.

“Regarding housing finance, we are expecting the government to devise a strategy, a plan that would enable the common man to easily avail housing finance from banks,” Awan told Arab News.

Arif Habib, the chairman of Arif Habib Group, said he was “optimistic” about the new budget, saying premier Shehbaz Sharif had formed a task force to develop proposals for the housing market.

The government, he said, had decided to withdraw excise duty and was considering reducing some advanced taxes as well.

“Then the most important aspect of this real estate market is the mortgage financing availability,” Habib told Arab News in an interview, saying the government’s task force was recommending proposals to encourage mortgage financing given that inflation had eased to a record low.

“In the past, because of the high inflation, people didn’t have enough disposable income to buy real estate,” Habib said. 

“But now I believe, with the positive sentiment in the country, the Pakistani diaspora would also be attracted to the Pakistani market because they prefer to buy houses here for their families and for their future. So I believe after the budget, this [real estate] sector will also be active.”

More than half of the 10 million overseas Pakistanis who are expected to remit a record $38 billion this year wanted to invest in the country’s real estate sector, ABAD’s Bakhshi added. 


PM Sharif to attend Pakistan-Turkiye-Azerbaijan trilateral summit today

PM Sharif to attend Pakistan-Turkiye-Azerbaijan trilateral summit today
Updated 28 May 2025
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PM Sharif to attend Pakistan-Turkiye-Azerbaijan trilateral summit today

PM Sharif to attend Pakistan-Turkiye-Azerbaijan trilateral summit today
  • Pakistani PM is on regional diplomacy tour to Iran, Turkiye, Azerbaijan and Tajikistan 
  • Turkiye, Azerbaijan openly pledged support for Pakistan during latest India conflict 

ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif is in Azerbaijan on the third stopover of a five-day regional diplomacy tour that also saw him visit Iran and Turkiye, and will today, Wednesday, attend a Pakistan-Turkiye-Azerbaijan trilateral summit, the foreign office said. 

Turkiye and Azerbaijan had openly pledged support for Pakistan during its latest military confrontation with archrival India earlier this month while Iran had urged restraint and also offered to mediate. 

“Sharif will attend the Pakistan-Turkiye-Azerbaijan Trilateral Meeting,” the foreign office said, releasing the PM’s schedule. 

“The Prime Minister, along with the Presidents of Turkiye and Azerbaijan, will also attend a ceremony to mark Azerbaijan’s Independence Day, which the Prime Minister will also address.”

Pakistan and Azerbaijan have strengthened ties in recent years through defense and energy cooperation and Baku has supported Islamabad’s position on the Kashmir dispute with India at international forums.

Islamabad has also offered Azerbaijan access to its seaports to facilitate trade with global markets and promoted regional connectivity initiatives linking Central Asia to South Asia.

On Tuesday, Sharif met the president of Azerbaijan, Ilham Aliyev, and thanked his country for its “steadfast support” during the standoff with India, the worst conflict in decades between the nuclear-armed neighbors.

The four-day military escalation saw Pakistan and India launch missiles and drones deep into each other’s territories and exchange gunfire on their de facto border, the Line of Control, until a ceasefire was announced on May 10. Nearly 70 people combined were killed on both sides of the border. 

Before Azerbaijan, Sharif went to Iran where he held meetings with President Masoud Pezeshkian and Supreme Leader Ayatollah Ali Khamenei. 

At a joint press stakeout with the Iranian president, Sharif made a peace offer to India, saying Pakistan was ready for talks on contentious issues including Kashmir, water-sharing and countering terrorism.

At the start of his regional visit, Sharif met Turkish President Tayyip Erdogan in Istanbul and thanked him for Ankara’s strong backing during the conflict with India. 

The two leaders also discussed expanding cooperation in defense production, energy, IT, agriculture and infrastructure and agreed to pursue a bilateral trade target of $5 billion, building on commitments made during the 7th High-Level Strategic Cooperation Council held in Islamabad earlier this year.


Pakistan and Bangladesh begin T20I series today

Pakistan and Bangladesh begin T20I series today
Updated 28 May 2025
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Pakistan and Bangladesh begin T20I series today

Pakistan and Bangladesh begin T20I series today
  • 2009 world champions Pakistan have endured significant downturn in last 12 months, crashed out in first round of World Cup in 2024
  • Bangladesh, ranked ninth, have won just four of last 12 T20Is, lost series against lower-ranked US last year and UAE earlier this month

ISLAMABAD: Pakistan are all set to take on Bangladesh in a three-match T20I series commencing from today, Wednesday, the Pakistan Cricket Board (PCB) said in a statement. 

The second T20I will be held on Friday, May 30, while the third and final T20I of the series is scheduled on June 1.

Salman Ali Agha will lead Pakistan, while Litton Das will captain Bangladesh. All three T20Is will be played at Lahore’s Qaddafi Stadium, which will host its first T20I series after going through a complete renovation earlier this year.

“The boys are doing well as a unit. A lot of our players are coming off strong performances in the HBL PSL X, which is one of the most competitive T20 tournaments in the world. That form and momentum are something we are hoping to carry into this series,” Agha was quoted as saying in a PCB statement. 

“Bangladesh are a quality side with talented players and we are expecting a good challenge from them. I believe fans are in for some thrilling cricket over the next few days.”

Das, the Bangladesh captain, said his team was “focused and understands the challenge Pakistan poses, especially in their home conditions.”

“This series is a great opportunity for every player to step up. We are trying a few combinations in the build-up to the T20 World Cup next year and this tour is a valuable part of that process,” the PCB statement quoted Das as saying. 

The 2009 world champions Pakistan have endured a significant downturn in the last 12 months and crashed out in the first round of the World Cup in 2024.

They have won only three of their last 13 T20Is, two against minnows Zimbabwe, and slumped to eighth in the T20I rankings.

With a new head coach in New Zealand’s Mike Hesson they are looking to younger players with the World Cup in India and Sri Lanka just eight months away.

Star batsmen Babar Azam and Mohammad Rizwan, and pace spearhead Shaheen Shah Afridi, have all been axed.

Salman Agha will lead the side, having lost a series in New Zealand 4-1 two months ago.

Bangladesh, ranked ninth, are in the same boat.

They have won just four of their last 12 T20Is and lost series against lower-ranked United States (2024) and United Arab Emirates earlier this month.

They also have a new coach in West Indian Phil Simmons, who will be missing senior players including Tamim Iqbal, Shakib Al Hasan, Mohammad Mahmudullah and Mushfiqur Rahim, all either fully retired or from the T20Is.

Frontline fast bowlers Taskin Ahmed and Mustafizur Rahman are nursing injuries while new pace sensation Nahid Rana withdrew from the tour over security fears following the cross-border conflict between India and Pakistan.

With inputs from AFP


On 27th anniversary of acquiring nukes, Pakistan reaffirms pledge of defensive use only

On 27th anniversary of acquiring nukes, Pakistan reaffirms pledge of defensive use only
Updated 28 May 2025
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On 27th anniversary of acquiring nukes, Pakistan reaffirms pledge of defensive use only

On 27th anniversary of acquiring nukes, Pakistan reaffirms pledge of defensive use only
  • Pakistan began program to obtain nuclear weapons after 1971 war led to division of the country and creation of Bangladesh
  • Pakistan conducted nuclear tests in May 1998, officially becoming a nuclear-weapon state shortly after India conducted its own tests

ISLAMABAD: Pakistan is celebrating Youm-e-Takbeer today, Wednesday, to commemorate the 27th anniversary of the day it acquired nuclear weapons, reaffirming its pledge to use the capability for defensive purposes only.

Pakistan began a program to obtain nuclear weapons after the 1971 war which led to the division of the country and the creation of Bangladesh, then East Pakistan. The army sees its nuclear weapons as essential to offset the conventional superiority of its much bigger neighbor, India. India sees its own nuclear weapons as a deterrent against Pakistan and China, which defeated it in a border war in 1962.

Pakistan tested nuclear weapons in May 1998, shortly after India announced it had done so.

“Youm-e-Takbeer commemorates the momentous occasion in 1998 when Pakistan emerged as a nuclear power— restoring the strategic balance in South Asia and asserting its sovereign right to self-defense,” the army said in a statement. 

“This historic achievement epitomizes the nation’s resolve, unity, and unwavering pursuit of a dignified and peaceful existence.

“The Armed Forces of Pakistan reiterate their unflinching resolve to defend the motherland against all threats across the full spectrum of conflict. As responsible custodians of the nation’s strategic assets, we reaffirm that our nuclear capability remains solely for defensive purposes and stands as a guarantor of peace.”

The military added that the day underscored Pakistan’s “steadfast commitment” to preserving its sovereignty and territorial integrity and affirmed its doctrine of credible minimum deterrence, rooted in the principle of maintaining peace and strategic stability in the region.

Both India and Pakistan faced international sanctions as a result of testing nukes in 1998, although India has since won effective recognition as a nuclear power following an accord negotiated with the United States. Neither Pakistan, nor India, have signed the nuclear Non-Proliferation Treaty (NPT).

The Bulletin of the Atomic Scientists estimates Pakistan’s arsenal at about 170 warheads. These can be delivered by aircraft, or by missiles, which both countries have been developing and testing. 

The nuclear program is controlled by the army and run by the Strategic Plans Division.

Pakistan and India’s nuclear capabilities make any conflict between them especially dangerous and raise global alarm, as happened earlier this month when they launched missiles and drones deep into each other’s territories and exchanged gunfire on their de facto border, the Line of Control, until a ceasefire was announced on May 10. Nearly 70 people combined were killed on both sides of the border. 

It was the worst conflict in decades between the neighbors.

Pakistan has fought three full-scale wars with India, including two over the disputed Kashmir region.


Turkiye detains 13 people in probe of fintech Papara, which acquired Pakistan’s SadaPay

Turkiye detains 13 people in probe of fintech Papara, which acquired Pakistan’s SadaPay
Updated 27 May 2025
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Turkiye detains 13 people in probe of fintech Papara, which acquired Pakistan’s SadaPay

Turkiye detains 13 people in probe of fintech Papara, which acquired Pakistan’s SadaPay
  • Papara is suspected of money laundering, illegal betting and establishing a criminal organization
  • Papara expanded by acquiring Pakistan-based SadaPay and Spain-based Rebellion Pay in 2023

ISTANBUL: Turkish authorities detained 13 people as part of an investigation into fintech company Papara over suspected money laundering, illegal betting and establishing a criminal organization, Interior Minister Ali Yerlikaya said on Tuesday.

Yerlikaya said authorities determined that the company, which provides online money transfers, foreign-exchange transactions and bill-payment services for its 21 million users, was allowing users to open accounts to transfer illegal betting income.

A report by state broadcaster TRT Haber said the detentions included Papara’s founder and chairman, Ahmet Faruk Karsli.

As part of the probe, the Savings Deposit Insurance Fund (TMSF) was appointed as a trustee to Papara by a court decision, following reports from the central bank, the Financial Crimes Investigation Board (MASAK), and other relevant institutions.

The central bank, which regulates payment firms, said on Tuesday it would implement daily limits to transactions made on the platform.

“In this process, which will be carried out in coordination with the relevant institutions, temporary daily limits will be applied to payment transactions at the institution,” the central bank said in a statement.

It also sought to reassure users, noting that “within the scope of the law, the funds of payment service users in payment and electronic money institutions are secured in protection accounts at banks.”

Yerlikaya said 10 companies, bank accounts and assets of the detained individuals were seized as part of the investigation.

A report by the financial crimes unit found that more than 26,000 accounts were used for illegal online betting, involving transactions worth 12.9 billion lira ($330 million), he added.

Papara, one of Turkiye’s fastest-growing fintech companies, did not immediately respond to a request for comment.

The company was founded in 2015 and received an electronic money institution license from the banking regulator BDDK the following year. It expanded abroad by acquiring Pakistan-based SadaPay and Spain-based Rebellion Pay in 2023.

According to its website, Papara had 21 million users as of last year. PPR Holding owns Papara, and Trade Registry data shows Karsli held about 90 percent of the company as of May 2024.