Taliban officials say Pakistan airstrikes in Afghanistan kill 46

ISLAMABAD: Pakistan’s foreign office said on Monday the country had a “sovereign right” to secure and regulate its borders, as the United Nations High Commissioner for Refugees (UNHCR) identified around 110,000 Afghans who faced the risk of persecution at home if deported. 

Facing economic and security crises, Pakistan launched a repatriation drive targeting “illegal” foreigners in November 2023, with approximately 1.3 million Afghan refugees, both undocumented and those with Afghan Citizen Card holders, deported since. 

Pakistan has vowed to continue with the deportations until all “illegal” foreigners have been expelled. As of October 2023, there were over 4 million Afghans, registered and illegals, residing in Pakistan.

According to the latest UNHCR Resettlement Factsheet, some 110,000 refugees and asylum-seekers have high-risk profiles with increased international protection needs and vulnerabilities that could qualify them for resettlement in a third country. The agency has said all returns should be voluntary, dignified, and sustainable.

Speaking to Arab News on Monday, foreign office spokesperson Shafqat Ali Khan said the illegal foreign repatriation plan (IFRP) was consistent with both Pakistan’s obligations under international law and its domestic legal framework. 

“The right to secure and regulate our borders is a sovereign right and an internationally recognized practice, which is by no means unique to Pakistan,” he said, adding that IFRP was neither an “indiscriminate nor an arbitrary measure,” and that Afghans would always be welcome to visit Pakistan through a proper visa regime, whether for business, tourism, or education.

Khan said Pakistan had urged all concerned nations to expedite the repatriation process for Afghans awaiting resettlement in third countries.

“On Afghan nationals awaiting evacuation to a third country, we are in touch with those countries and urged them to expedite the process of evacuation,” the FO spokesman said. 

“We are engaged with relevant UN bodies for the protection of people in vulnerable situations, and our legal safeguards and remedies remain functional and effective to address any complaints.”

UNHCR Pakistan spokesperson Qaiser Khan Afridi said approximately 600,000 Afghans had entered Pakistan following the Taliban’s takeover of Kabul and the withdrawal of US and allied forces in August 2021, with about 490,000 seeking asylum through UNHCR due to the absence of a national refugee law.

“We conducted a verification exercise a year ago and ... around 110,000 have high-risk profiles and qualify for resettlement in a third country,” Afridi told Arab News.

He said these were people who could not return to Afghanistan due to “vulnerabilities and safety concerns.”

“There are journalists, human rights activists, religious minorities, ethnic minorities, musicians, singers, or some people who have worked in previous governments, or they are female only families,” the UNHCR official added.

“We spoke with the Pakistani government, urging them not to send these people back to Afghanistan as their lives are at risk,” Afridi said, adding that the UN agency had also requested that the Pakistan government establish a mechanism to allow these individuals to live in the country temporarily.

According to the foreign office, over 44,000 Afghans approved for relocation to Western countries were still in Pakistan, awaiting resettlement.

The resettlement program has been active since the 1980s, with over 20,000 vulnerable refugees sent to third countries since.

ISLAMABAD: Despite oil trading low at $60, the Organization of the Petroleum Exporting Countries and their allies — collectively known as OPEC+ — is expected this week to continue to further open the taps, a development that analysts believe is “broadly positive” for Pakistan’s macroeconomic outlook and the equity market.

In past months, Saudi Arabia, Russia and six other OPEC+ members have surprised markets by announcing a sharp increase in oil production for May and June despite the low prices. 

This week the cartel will hold two meetings, one online on Wednesday with all OPEC+ members to discuss the group’s common strategy, and one on Sunday with just the eight member states, known as the “V8,” that have made the largest cuts in recent years.

“During the group’s upcoming meeting on June 1, members are likely to approve a production increase that is three times larger than the previously planned hike of 137k barrels per day,” Pakistani brokerage house Topline Securities said in an analysis, saying the “aggressive” output hike had put Pakistan in a “sweet spot.”

“We believe this development is broadly positive for Pakistan’s macroeconomic outlook, with positive spillover for equity market, which is trading below historical valuation multiples.”

Topline said companies reliant on Re-gasified Liquefied Natural Gas such as Tariq Glass Industries, Ghani Glass Limited, and Descon Oxychem Limited were set to gain from declining feedstock prices and poised for margin expansion in the coming quarters. 

“On the other hand, exploration and production companies may face earnings pressure due to weaker oil prices but improved cash recoveries and enhanced liquidity could support their cash flow generation,” Topline said. 

“Overall, we maintain a bullish stance on the equity market, supported by improving macro fundamentals. However, a key risk remains the upcoming federal budget, particularly the possibility of adverse tax measures on capital gains or corporate profits, could temper investor sentiment.”

Analysts expect the V8 to up production by 411,000 barrels a day for July — the same as in May and June — whereas the initial plan called for an increase of just 137,000 barrels.

This could further weigh down prices already slumping to lows last seen during the pandemic, which hit global demand.

OPEC+ have justified their change in strategy by citing “current healthy market fundamentals, as reflected in the low oil inventories.”

With inputs from AFP