Pakistan’s oil regulator announces crackdown against ‘illegal hoarders’ amid fuel shortage

This picture taken on January 30, 2023 shows resident Saleem Qureshi (C) filling petrol in his motorcycle at a gasoline station in Pakistan's port city of Karachi. (Photo courtesy: AFP)
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Updated 08 February 2023
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Pakistan’s oil regulator announces crackdown against ‘illegal hoarders’ amid fuel shortage

  • State minister for petroleum warns of suspending licenses of companies found hoarding oil
  • Dealers reject hoarding allegations, say 70 percent of total fuel stations are short of supply

ISLAMABAD: Pakistan’s oil regulator announced a crackdown against the alleged illegal hoarding of petrol and diesel in the country’s most populous Punjab province on Wednesday, where consumers are facing a shortage of petroleum products for a week now. 

Long queues of cars have been seen outside petrol stations in various parts of Punjab over the past week. Some petrol stations have also started rationing petrol and diesel to accommodate the maximum number of consumers, citing a shortage of commodities from oil companies. 

Cash-strapped Pakistan has been actively seeking an International Monetary Fund (IMF) bailout package for the past couple of months now. The country’s reserves, which have dipped to a little over $3 billion, are just enough for 18 days of imports. 

Oil dealers say the shortage of petroleum products has been caused partly due to the State Bank of Pakistan’s (SBP) unannounced restrictions on imports. The Oil and Gas Regulatory Authority (OGRA) says it has identified at least 19 illegal fuel storages in Punjab and advised the provincial chief secretary to take “strict action against illegal hoarders.”

In a statement, OGRA said it had compiled the list, which was “identified through market intelligence to avoid deliberate shortage in the province. The authority added that it had disseminated its enforcement teams to check storages and ensure the smooth supply of petroleum products in the province.

State Minister for Petroleum Dr. Musadik Malik told reporters that Pakistan had petrol reserves of at least 20 days and diesel reserves of 29 days. However, he said despite Pakistan having adequate reserves of both, people were still experiencing shortage of petroleum products.

“There are some people in this country who are involved in hoarding [petroleum products],” Malik said. “This means they are stealing your rights, the rights of your children, the rights of those who are sick, those who have to go to their places of business and offices and those children who have to go to schools and colleges, they are stealing their rights,” he said. 

Malik warned the alleged hoarders to stop. “You won’t be able to hoard, you won’t be able to steal people’s rights. This is our resolve,” he added. “And if you continue to do so, we will suspend your licenses [to sell petroleum products],” he added. 

Pakistan Petroleum Dealers Association (PPDA) said around seventy percent of Punjab’s petrol pumps, except for the state-owned Pakistan State Oil (PSO) were facing a shortage of petrol and diesel.

“There is no question of hoarding as the petrol stations have genuinely run out of their stocks due to short supplies from the companies,” Abdul Sami Khan, chairman of the PPDA, told Arab News. 

Khan said the dealers were not at fault as oil companies were not supplying with an adequate amount of the products. 

“The small companies are conveying to their dealers that they may not be able to supply them the product after 10 days as their stocks are running out,” he said, urging OGRA to investigate the issue instead of raiding petrol stations. 

“We have no hope that this issue [the petrol shortage] will be resolved anytime soon,” he said, advising the government to start rationing the product to ensure its maximum supply across the country.


Pakistan seeks Beijing’s support for completion of 1,800MW hydropower projects

Updated 10 May 2024
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Pakistan seeks Beijing’s support for completion of 1,800MW hydropower projects

  • The Kohala and Azad Pattan hydropower projects have reportedly been delayed for past several months
  • Beijing is investing more than $65 billion in energy and infrastructure projects in Pakistan as part of CPEC

ISLAMABAD: Pakistan’s Planning Minister Ahsan Iqbal has sought Chinese support for early completion of two hydropower projects, Pakistani state media reported on Thursday, amid the minister’s visit to China.
The 1,124 megawatts (MW) Kohala and 700MW Azad Pattan hydropower projects have been delayed for the past several months, according to media reports.
In his meeting with National Energy Administration of China’s Chairman Zhang Jianghua, Iqbal said his government intended to diversify energy mix toward clean and renewable energy.
“In that context, Minister for Planning sought Chinese continued cooperation for the early implementation of the Azad Pattan and Kohala Hydro Power Projects,” the state-run Radio Pakistan broadcaster reported.
Beijing is investing over $65 billion in energy and infrastructure projects in Pakistan as part of the China-Pakistan Economic Corridor (CPEC), a major segment of Beijing’s Belt and Road infrastructure initiative, which will connect China to the Arabian Sea and help Islamabad expand and modernize its economy through a network of roads, railways, pipelines and ports in Pakistan.
During the meeting, the two sides also discussed new initiatives to improve energy management system, aimed at reducing theft and line losses, according to the report.
“We intend to reform energy sector to be efficient and affordable in order to provide electricity to consumers and businesses at cheaper rates by cutting line losses and power theft,” Iqbal was quoted as saying.
The meeting was part of Iqbal’s engagements in Beijing to prepare for the next round of Joint Coordination Committee meeting as well as for the preparation of an upcoming visit of Prime Minister Shehbaz Sharif to China.
Earlier, the minister met officials of top Chinese companies, including Power China, TBEA Co. Ltd., and Electric Power Planning and Engineering Institute, that specialize in power transmission and distribution.


Pakistan envoy urges Hajj pilgrims to demonstrate discipline during stay in Saudi Arabia

Updated 10 May 2024
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Pakistan envoy urges Hajj pilgrims to demonstrate discipline during stay in Saudi Arabia

  • Pakistan on Thursday launched its pre-Hajj flight operation which will continue till June 9
  • Ambassador Ahmed Farooq thanks Saudi Arabia for ‘best’ arrangements for Hajj pilgrims

ISLAMABAD: Pakistan’s Ambassador to Saudi Arabia, Ahmed Farooq, on Friday urged Pakistani Hajj pilgrims to demonstrate discipline during their stay in Saudi Arabia and thanked the Kingdom for ensuring “best” arrangements for the devotees, the Pakistani religious affairs ministry said.
The statement came amid Pakistan’s ongoing pre-Hajj flight operation to ferry pilgrims to the Kingdom for the annual pilgrimage. Several Hajj flights left Pakistan for the Kingdom on Thursday.
Ambassador Farooq and Pakistan’s Hajj Director-General Abdul Wahab Soomro warmly welcomed the Pakistani pilgrims upon arrival in the holy city of Madinah.
“Pilgrims should demonstrate best discipline to increase the prestige of the country,” the Pakistani religious affairs ministry quoted the ambassador as saying.
“We are grateful to the Saudi government for making the best arrangements for Hajj pilgrims.”
Soomro said the pre-Hajj flight operation was ongoing successfully and feedback about different facilities would be sought from pilgrims through the Pak Hajj app.
Hajj is one of the five pillars of Islam, and requires every adult Muslim to undertake the journey to the holy Islamic sites in Makkah at least once in their lifetime, if they are financially and physically able.
Pakistan has a Hajj quota of 179,210 pilgrims this year, according to the Pakistani religious affairs ministry. Of them, 63,805 pilgrims will be performing the pilgrimage under the government scheme, while the rest would be accommodated by private tour operators.
This year’s pilgrimage is expected to run from June 14 till June 19.


Pakistan and Ireland go toe-to-toe in inaugural T20I series today

Updated 10 May 2024
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Pakistan and Ireland go toe-to-toe in inaugural T20I series today

  • Both Pakistan and Ireland are in the same group of the T20 World Cup
  • Mohammad Amir expected to be available for second and third T20Is

ISLAMABAD: The Pakistan cricket team will kick off its Europe tour today, Friday, with the first of three Twenty20 Internationals (T20Is) against Ireland at the Castle Avenue, the Pakistan Cricket Board (PCB) said.
This marks the first time Ireland will host Pakistan for a T20I series. The two sides have previously met only once in the ICC Men’s T20 World Cup 2009 where Pakistan won by 39 runs with Kamran Akmal receiving the player of the match award for his 51-ball 57 and two stumpings.
Interestingly, both Pakistan and Ireland are in the same group for the ICC Men’s T20 World Cup 2024 and will face each other in Florida on June 16. Apart from the two sides, India, USA, and Canada are also in the same group, with the top two teams advancing to the second stage.
“Our preparations for the ICC Men’s T20 World Cup 2024 began with the home series against New Zealand and now it’s all about putting the final touches on those preparations. We have clarity on our game plans, strategies and combinations. It’s about bringing everything together before we arrive in the United States,” the PCB quoted Pakistan head coach Azhar Mahmood as saying.
“We’ve only played Ireland once, so they will be a relatively new opponent for us. However, any team in T20 cricket can be dangerous as the match can swing in one over. The three T20Is will provide us with good information about their players and how they approach T20 cricket.”
The remaining two matches will also take place at the same venue in Ireland on Sunday and Tuesday, before Pakistan head to Headingley, Leeds on Wednesday for a series of four T20Is against England.
Following the England series, with matches scheduled at Headingley (22 May), Birmingham (25 May), Cardiff (28 May), and The Oval, London (30 May), both England and Pakistan will head to the ICC Men’s T20 World Cup 2024, according to the PCB.
England will face Scotland in Barbados on June 4 in their opening match, while Pakistan will launch their campaign against the United States (US) in Dallas on June 6.
Meanwhile, fast bowler Mohammad Amir will miss the first T20I due to delays in the issuance of his visa. He is expected to join the side on Friday.
Squads
Ireland: Paul Stirling (captain), Mark Adair, Ross Adair, Andrew Balbirnie, Curtis Campher, Gareth Delany, George Dockrell, Graham Hume, Barry McCarthy, Neil Rock, Harry Tector, Lorcan Tucker, Ben White, Craig Young
Pakistan: Babar Azam (captain), Abrar Ahmed, Azam Khan, Fakhar Zaman, Haris Rauf, Hasan Ali, Iftikhar Ahmed, Imad Wasim, Mohammad Abbas Afridi, Mohammad Amir (unavailable for first T20I), Mohammad Rizwan, Muhammad Irfan Khan, Naseem Shah, Saim Ayub, Salman Ali Agha, Shadab Khan, Shaheen Shah Afridi and Usman Khan


Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom

Updated 10 May 2024
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Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom

  • ABHI, which also serves customers in UAE, was selected as one of Gulf country’s Future 100 companies last year 
  • Saudi tech company says partnership to empower Kingdom’s citizens, embolden private sector and foster economic growth

KARACHI: Alraedah Digital Solutions, a leading Saudi technology company, announced on Thursday it was entering into a strategic partnership with Pakistani fintech ABHI to launch “innovative” financial services in the Kingdom. 
Alraedah Digital Solutions, the digital arm of Alraedah Digital Group, focuses on innovation and digital transformation to empower businesses and individuals through cutting-edge solutions in finance and technology. 
ABHI is a Pakistani fintech company that provides innovative finance solutions to businesses and their employees. Last year, it was selected as one of the Future 100 companies of the United Arab Emirates. 
Founded in 2021, ABHI has been serving customers in Pakistan, UAE, and Bangladesh through its credit-bridging products. These include Earned Wage Access, Invoice Factoring, SME Working Capital & Revenue Based Financing, and Payroll Solutions. 
“Under the terms of the agreement, Alraedah will leverage ABHI’s robust capabilities to launch a set of innovative financial services in KSA,” the Saudi company said in a press release. 
The statement said as per the terms of the agreement, ABHI will gain access to Alraedah’s knowledge and understanding of the local Saudi market. This would enable it to collaboratively launch innovative financing products in Saudi Arabia.
“Alraedah will enable access to $200 million over the course of three years to develop products that apply ABHI’s proprietary technology, localized for the Saudi market,” the press release said. 
The Pakistani fintech says it has a client base of over 1,000 esteemed companies and actively promotes financial empowerment and provides stability to over 750,000 employees across the region.
“With our innovative financial solutions and Alraedah’s deep local expertise, we are poised to empower Saudi citizens, embolden the private sector, and foster a more vibrant, thriving economy,” Omair Ansari, co-founder and CEO of ABHI, was quoted as saying. 
Paul Melotto, CEO of Alraedah Digital Solutions, said both companies aim to redefine access to financial services and empower individuals and businesses across the region.
“Together, we aim to redefine access to financial services and empower individuals and businesses across the region,” he said.


Suspected militants bomb school for girls in northwestern Pakistan

Updated 09 May 2024
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Suspected militants bomb school for girls in northwestern Pakistan

  • No one harmed as militants blow up girls school in North Waziristan district, say police
  • Pakistan witnessed attacks on girls’ schools until 2019 by militants opposed to female education

DERA ISMAIL KHAN, Pakistan: Militants detonated a bomb at a girls school in a former stronghold of the Pakistani Taliban in the country’s volatile northwest, badly damaging the structure, police said Thursday. No one was harmed in the overnight attack.

There was no immediate claim of responsibility for the attack late Wednesday that targeted the only girls school in Shawa, a town in the North Waziristan district in the Khyber Pakhtunkhwa province bordering Afghanistan, local police chief Amjad Wazir said.

UNICEF condemned the bombing as “despicable and cowardly act that could jeopardize the future of many young and talented girls.”

According to the police chief, the attackers first beat up the school guard before setting off the explosives at the private Aafia Islamic Girls Model School, which has 150 students.

Suspicion is likely to fall on Islamic militants and specifically the Pakistani Taliban, who have targeted girls schools in the province in the past, saying that women should not be educated.

In a statement, Abdullah Fadil, the UNICEF representative in Pakistan, said the “destruction of a girls’ school in a remote and underserved area is a heinous crime detrimental to national progress.” He cited Prime Minister Shehbaz Sharif statement on Wednesday declaring an education emergency and pledging to work toward enrolling 26 million out-of-school children.

Pakistan witnessed multiple attacks on girls schools until 2019, especially in the Swat Valley and elsewhere in the northwest where the Pakistani Taliban long controlled the former tribal regions. In 2012, the insurgents attacked Malala Yousafzai, a teenage student and advocate for the education of girls who went on to win the Nobel Peace Prize.

The Pakistani Taliban, known as Tehreek-e-Taliban Pakistan or TTP, were evicted from Swat and other regions in recent years. The TTP are a separate group but a close ally of the Afghan Taliban, who seized power in Afghanistan in 2021.

The Taliban takeover in neighboring Afghanistan has emboldened the Pakistani Taliban.