KARACHI: The World Bank’s Board of Executive Directors approved $149.7 million in financing for Pakistan to support two projects related to the country’s digital economy and improved flood resilience, according to a statement issued by the international financial institution on Saturday.
The allocated funding of $78 million for the Digital Economy Enhancement Project is expected to enhance financial management through technology-driven solutions and data-driven decision-making. The investment in digital economy is also likely to streamline public services, increase transparency and foster economic growth.
Simultaneously, the $71.7 million allocation for the Sindh Barrages Improvement Project is likely to ensure greater flood resilience, a critical issue for Pakistan that is highly vulnerable to climate change.
“The catastrophic floods that hit Pakistan in 2022 were a tragic reminder of the importance to build resilience to such disasters, including by strengthening barrages and their management,” World Bank Country Director for Pakistan Najy Benhassine said in a statement.
“Also, supporting the growing digital economy in Pakistan is key for economic and social development, broadening connectivity and access to government and financial services for citizens and entrepreneurs, particularly women,” he added.
The World Bank statement highlighted the digital economy project aims to develop digital authentication and data-sharing platforms. The initiative will enable Pakistan to respond more effectively and efficiently to economic and environmental shocks.
Additionally, it will enhance the delivery of e-government services to citizens and firms, supporting regulatory reforms in the sector. These reforms will facilitate increased private sector participation while strengthening personal data protection and online safety.
The project also seeks to promote financial inclusion by enabling women in particular to open bank accounts or apply remotely for credit through a smartphone application. It will also contribute to addressing barriers such as limited mobility and digital literacy.
“The digital economy and demand for digital government services have been growing across the country, increasing the need for connectivity, digital payments and secure and trusted digital transactions,” the project team leader, Shan Rehman, said. “The project takes a whole-of-government approach to digital transformation and will help ensure that digital platforms are inclusive and trusted.”
About the other project, the bank said having safe and effective barrages to convey flood waters downstream was a crucial part of building climate resilience in Sindh.
It informed that its financing would contribute to strengthening the provincial Barrage Management Unit’s technical capacities, promoting women’s participation in emergency preparedness and implementing extensive citizen engagement and stakeholder participation.
“Barrages such as the ones supported by SBIP [Sindh Barrages Irrigation Department] are critical for the livelihoods and climate-resilience of the Sindh Province,” said Francois Onimus, who is spearheading the endeavor. “The project will increase the resilience of the canal systems that are fed from these barrages, reducing the adverse impacts of extreme floods and drought events.”
World Bank approves $149.7 million for Pakistan’s digital and flood resilience projects
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World Bank approves $149.7 million for Pakistan’s digital and flood resilience projects
- The bank has allocated $78 million to improve digital economy and $71.7 million to improve the barrage system in Sindh
- Pakistan has been working to find technology-driven financial solutions and strengthen itself against climate-induced disasters
Government says eight entities interested in Pakistan’s debt-ridden airlines amid privatization drive
- The deadline for submitting expressions of interest to participate in PIA’s divestment ended at 4 PM on Friday
- The Privatization Commission is now carrying out the pre-qualification process in line with the laid-out criteria
KARACHI: The Ministry of Privatization on Friday named eight business entities that have expressed interest in acquiring stakes in the state-owned Pakistan International Airlines (PIA) that has faced significant financial difficulties and repeatedly urged the government for bailouts in recent years.
Pakistan agreed to overhaul its public sector entities under a $3 billion short-term loan package it signed with the International Monetary Fund (IMF) last year to avert a sovereign debt default.
The IMF recommended the government privatize the state-owned enterprises (SOEs) whose losses were burning a hole in the country’s finances amid its already precarious economic situation.
According to the ministry, the deadline for submitting expressions of interest to participate in PIA’s divestment process ended at 4 PM today.
“In response to the Invitation of Expression of Interest (EoI), for Divestment of Pakistan International Airlines Corporation Limited (PIACL), published advertisement in leading national and international newspapers on 2nd & 3rd April, 2024, Privatization Commission has received Statement of Qualifications from (1) Fly Jinnah, (2) Air Blue Limited, (3) Arif Habib
Corporation Limited, (4) Sardar Ashraf D. Baluch – SHANXI CIG Co. Ltd. (China), (5) Gerry’s International (Private) Limited, (6) Consortium Lead by Y.B. Holdings (Private) Limited, (7) Consortium Lead by Pak Ethanol and (8) Consortium Lead by Blue World City,” it announced.
“Privatization Commission will now carry out the pre-qualification process in line with the criteria laid down in the RSOQs [Requests for Statement of Qualification], under the PC Ordinance 2000 and rules & regulations framed thereunder,” it continued. “Accordingly, the pre-qualified parties will be invited for the next stage of bidding process.”
The privatization of SOEs is proving to be a challenging process. Prime Minister Shehbaz Sharif stated earlier this week his government would not sell public entities it deemed “strategically important.”
Prior to this, the newly appointed Deputy Prime Minister Ishaq Dar, while chairing a meeting of the Cabinet Committee on Privatization, affirmed the government would continue to retain essential or strategic SOEs.
Contrasting these views, Finance Minister Muhammad Aurangzeb, who is negotiating with the IMF for a fresh loan, declared that there was “no such thing as a strategic” public entity, indicating his intent to keep the privatization process comprehensive.
Shaheen Shah Afridi quells team discord rumors, says Pakistan eyeing T20 World Cup victory
- Afridi briefly served as Pakistan’s T20I captain following the team’s underperformance in last year’s ODI World Cup
- The leadership change at the helm followed contentious statements, triggering debate about solidarity within the team
ISLAMABAD: Pakistani speedster Shaheen Shah Afridi on Friday dismissed concerns about unity within the national cricket team ahead of the Twenty20 World Cup, saying there was no discord within the squad where every player was focusing on winning the big tournament next month.
Afridi was appointed as the T20I captain after Babar Azam announced his decision to step down following the team’s underperformance in last year’s Asia Cup, hosted by Pakistan and Sri Lanka, as well as the ODI World Cup played in India. However, his tenure was brief and ended in March 2024, following Pakistan’s 4-1 defeat in the T20I series against New Zealand.
Azam was brought back to lead the national team, but the leadership change was surrounded by contentious statements that triggered a debate about the lack of solidarity within the team.
“If there are ever small misunderstandings, these happen in every family,” he said during his appearance on the Pakistan Cricket Board’s podcast focusing on his career and the team’s ongoing dynamics. “And when there are brothers, they also sometimes have disagreements over little things. But thankfully, there is nothing like that in this team.”
“Our effort is always to play with unity,” he continued. “This is not the time where there can be argument or discord. This is a time when everyone has to be involved in one process, moving together with unity toward achieving the same goal.”
Afridi said he had fully recovered from his injury last year.
He maintained it was the team’s “job to play cricket and bring joy to our nation.”
“We are also tired of telling people that we will win the World Cup,” he said with a smile. “But God willing, this time we will make this happen.”
Pakistan’s state minister for IT says 5G launch preparations underway to boost digital economy
- Shaza Fatima Khawaja says the move will create employment opportunities for Pakistan’s youth
- The country last completed the auction for 3G and 4G networks about ten years ago in April 2014
KARACHI: Pakistan State Minister for IT and Telecommunication Shaza Fatima Khawaja has announced that preparations are underway to launch 5G spectrum services to promote the digital economy in the country, state-run Radio Pakistan reported on Friday.
Last year, Pakistan’s federal cabinet greenlighted the much-anticipated auction of 5G spectrum services in the country. Pakistan last completed the auction for 3G and the more advanced 4G networks— the first of its kind in the country— in April 2014.
“The launch of 5G will facilitate the country’s youth and create enormous employment opportunities in the IT sector,” the report quoted the state minister as saying while addressing a ceremony in Islamabad in connection with the World Telecommunication and Information Society Day.
The state minister highlighted the government was liaising with optic fiber companies and working to bolster the volume of their exports, capitalizing on the country’s potential in this sector.
She said that five billion rupees had also been allocated for the skill development of youth.
Khawaja added that the incumbent coalition government was working to expand the exports of around 35 companies engaged in manufacturing mobile phones.
Pakistan throws weight behind full UN membership for Palestine, urges Security Council action
- UNGA last week overwhelmingly backed Palestinian bid to become full member by recognizing it was qualified to join
- Palestinian push for full UN membership comes seven months into war between Israel and Hamas in the Gaza Strip
KARACHI: Pakistan has expressed support for a “historic” call by the United Nations General Assembly (UNGA) to admit the state of Palestine as a full member, the Foreign Office (FO) in Islamabad said on Friday, urging the UN Security Council to decide the matter “favorably.”
The UNGA last week overwhelmingly backed a Palestinian bid to become a full UN member by recognizing it was qualified to join and recommending the UNSC “reconsider the matter favorably.” The vote by the 193-member General Assembly was a global survey of support for the Palestinian bid to become a full UN member — a move that would effectively recognize a Palestinian state — after the United States vetoed it in the UN Security Council last month.
“Pakistan supports the historic call made by the UN general assembly made at the 10th emergency session to admit the state of Palestine as a full member,” FO spokesperson Mumtaz Zahra Baloch told reporters at a weekly press briefing.
“The resolution determined that the state of Palestine is qualified for membership of the UN and recommended the security council to decide the matter favorably.”
Baloch said the UNSC had been provided another opportunity to lift its objections to the admission of Palestine to the UN and “restore the credibility of the assurances that have been given in support of the two-state solution.”
The Palestinian push for full UN membership comes seven months into a war between Israel and Palestinian group Hamas in the Gaza Strip, and as Israel is expanding settlements in the occupied West Bank, which the UN considers illegal.
Palestinian health authorities say Israel’s ground and air campaign in Gaza has killed more than 35,000 people, mostly civilians after the war broke on Oct 7 when Hamas fighters stormed across the border into Israel.
Pakistan does not recognize the state of Israel and calls for an independent Palestinian state based on internationally agreed parameters and the pre-1967 borders with Al-Quds Al-Sharif as its capital.
Suspected militants bomb second girls school in a month in northwest Pakistan
- The attack damaged part of the facility in South Waziristan, however, no one was injured in its wake
- Though nobody claimed responsibility for the bombing, suspicion is likely to fall on the Pakistani Taliban
PESHAWAR: Suspected militants blew up another school for girls in a former stronghold of the Pakistani Taliban in Pakistan’s northwestern Khyber Pakhtunkhwa province, police and residents said on Friday.
The attack happened in the South Waziristan district that borders Afghanistan. It was the second one this month after another school was badly damaged in the region, according to district police Spokesman Habib Islam.
The overnight attack damaged one room of the facility, however, no one was hurt in its wake.
“A loud bang was heard in the night and police found early morning that a newly built girls’ school in Karikot, a village close to district headquarters of Wana City, was damaged in the explosion,” Islam told Arab News.
No one immediately claimed responsibility for bombing the school, but suspicion was likely to fall on the Pakistani Taliban, who have targeted girls’ schools in the province in the past.
A police officer from Wana said the management of the damaged school had received several threats in the past.
Jalal Wazir, general secretary of the Wana Welfare Association, regretted the bombing and said education was of “paramount importance” to beat illiteracy in the region.
“We can’t compete in today’s world if our girls are left uneducated,” Wazir said. “We will work to promote women education because if you educate a single girl, you educate an entire family.”
On May 9, unidentified militants had blown up a girls’ school on the outskirts of Miran Shah city in the neighboring North Waziristan district, prompting Prime Minister Shehbaz Sharif to direct authorities to immediately rebuild the damaged facility.
In May last year, two girls’ schools were blown up in the Mir Ali area of the North Waziristan district.
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.
