Pakistan president asks election body to ‘immediately’ issue schedule for Punjab and KP polls

The file shows Pakistan's President Dr. Arif Alvi attending a gathering at the Parliament House in Islamabad, Pakistan, on January 05, 2022. (Photo courtesy: @PresOfPakistan/Twitter)
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Updated 08 February 2023
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Pakistan president asks election body to ‘immediately’ issue schedule for Punjab and KP polls

  • Ex-Khan’s PTI party dissolved both provincial assemblies last month while seeking snap polls in the country
  • Pakistan’s law minister hinted at the possibility of delaying provincial polls amid political, economic uncertainty

ISLAMABAD: President Arif Alvi asked Pakistan’s election regulatory authority on Wednesday to “immediately” announce the schedule for provincial polls in Punjab and Khyber Pakhtunkhwa to quell any speculation about their likely postponement.

The president said it in a letter to chief election commissioner Sikandar Sultan Raja only a few weeks after the dissolution of Punjab and Khyber Pakhtunkhwa assemblies on the instruction of former prime minister Imran Khan who wanted to build pressure on the government to call early elections across Pakistan.

Some government functionaries, including law minister Azam Nazir Tarar, hinted at the possibility of delaying the provincial elections amid growing economic and political uncertainty, though they need to be held within 90 days of the dissolution of assemblies under the constitution.

The president, a Khan ally, said in the letter he was under oath “to preserve, protect and defend the Constitution” while pointing out that some of the strongest democracies in the world had even allowed voting amid conflicts and civil wars.

“I am of the firm view that there are no such circumstances as may furnish any justification for delaying or postponing of elections,” he said, adding any such step was likely to cause serious setbacks to democracy in the long run.

“It will thus be in the fitness of things and in accordance with Constitution and law i.e. Election Act, 2017, to immediately announce the date of polls by issuing election schedule and put an end to such dangerous speculative propaganda for these and future general elections,” he added.

Pakistan witnessed several delays in local government elections in Sindh province in the wake of the devastating monsoon floods last year. The election commission denied Sindh administration’s repeated requests to postpone the polls in Karachi and Hyderabad in January before the last phase of local elections was held.

Prior to that, local government polls were also delayed in the federal capital by the election authority following a request by the government.


Pakistan stocks remain under pressure on uncertainty over US tariffs

Updated 17 sec ago
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Pakistan stocks remain under pressure on uncertainty over US tariffs

  • Benchmark KSE-100 index experienced significant intraday pressure on Wednesday, plunging as much as 2,640 points during the session 
  • Global markets took a pummeling on Wednesday as President Donald Trump’s eye-watering 104% tariffs on China came into effect

ISLAMABAD: Pakistan’s benchmark KSE-100 index experienced significant intraday pressure on Wednesday, shedding as much as 2,640 points during the session before settling at 114,153 points on uncertainty over US tariff measures.
Global markets took a pummeling on Wednesday as President Donald Trump’s eye-watering 104% tariffs on China came into effect, and a savage selloff in US bonds sparked fears that foreign funds were fleeing US assets.
This week has brought crisis-era volatility to markets, wiping off trillions of dollars in value from stocks and hitting commodities and emerging markets with force.
“The Pakistan Stock Exchange remained under significant pressure today, as mounting uncertainty over potential US tariff measures reverberated across global financial markets,” Pakistani brokerage house Topline Securities said in its daily market review.
“In line with the negative trend witnessed in international equities, the local bourse experienced heightened volatility throughout the session.”
After plunging as much as 2,640 points during intraday trading on Wednesday, some recovery was seen in the latter half of the day and the index closed at 114,153 points, marking a net decline of 1,379 points or 1.19%.
On Tuesday, Pakistan stocks had closed at 118,938, gaining 623 points (0.54%), a day after the exchange fell to an intraday low of 8,687 points, the largest intraday point-wise drop in PSX history.
Major stock indexes plunged on Monday after Trump announced tariffs on goods imported from the rest of the world, saying a 10% tariff on all nations and much higher rates of up to 50% on individual countries will boost the US economy and protect jobs.
The Trump administration has also imposed a 29% tariff on Pakistan.


BYD comes on board to ‘electrify’ Pakistan Super League’s 10th edition

Updated 10 min 31 sec ago
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BYD comes on board to ‘electrify’ Pakistan Super League’s 10th edition

  • BYD Pakistan is partnering with 10th edition of Pakistan’s premier PSL cricket league as an official mobility partner
  • BYD Pakistan has partnered with Mega Motor Company to enter and expand the electric vehicle market in Pakistan

ISLAMABAD: BYD Pakistan, the operations of the Chinese New Energy Vehicle (NEV) manufacturer BYD, has joined hands with the 10th edition of Pakistan’s premier PSL cricket league as an official mobility partner, a press release said this week. 
This year’s season of PSL will take place across four cities in Pakistan from April 11 to May 18. 
“This electrifying partnership unites the nation’s most thrilling sporting event and the high-tech global NEV leader in the automotive industry — highlighting a shared commitment to innovation, excellence, and sustainability,” a joint press release said.
“As part of the sponsorship, BYD’s latest NEVs will be showcased during various matches across the country, offering cricket enthusiasts an opportunity to witness cutting-edge automotive technology.”
BYD Pakistan has partnered with Mega Motor Company (MMC), a subsidiary of Hub Power Company (HUBCO), to enter and expand the electric vehicle market in Pakistan.
Speaking at the signing ceremony of the BYD and PSL agreement, Mega Motor Company’s GM Marketing, Syed Haider Mujtaba, said partnering with HBL PSL X gave the firm the opportunity to connect with millions of cricket fans while showcasing BYD’s new EVs. 
“This collaboration reflects our commitment to promoting sustainable mobility and eco-friendly transportation solutions in Pakistan,” he added. 
The Pakistan Super League, also known as HBL PSL for sponsorship reasons, is a professional Twenty20 cricket league in Pakistan organized by the Pakistan Cricket Board. 
Founded by the PCB in 2015, the league features six city-based franchise teams. The current champions are Islamabad United.


Pakistan says US companies seek to invest in country’s untapped minerals sector

Updated 23 min 3 sec ago
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Pakistan says US companies seek to invest in country’s untapped minerals sector

  • Senior US official Eric Meyer conveyed that interest directly to Pakistani PM Shehbaz Sharif during ongoing Islamabad visit 
  • Meyer is in Pakistan to attend an international summit aimed at attracting foreign investment in country’s mining sector

ISLAMABAD: US companies are seeking to invest in Pakistan’s largely untapped minerals sector that boasts one of the world’s largest copper and gold deposits, the Pakistani government said Wednesday.
Eric Meyer, Senior Bureau Official for the State Department’s Bureau of South and Central Asian Affairs, conveyed that interest directly to Pakistani Prime Minister Shehbaz Sharif during meeting in Islamabad, according to a government statement.
The meeting came a day after Meyer attended the Pakistan Minerals Investment Forum, an international summit aimed at attracting foreign investment in the country’s mining sector. Apart from gold and copper, Pakistan is also rich in lithium used to make batteries, as well as other minerals.
The summit has drawn participation from major international companies, including Canada-based Barrick Gold, as well as government officials from the United States, Saudi Arabia, China, Turkiye, the United Kingdom, Azerbaijan, and other nations.
Pakistan’s massive copper and gold deposits are located in Reko Diq, a district in restive Balochistan, which has witnessed a surge in attacks by Baloch separatists in recent years. Pakistan’s powerful army chief Gen. Asim Munir had told foreign companies and investors at the summit that the military would ensure their security.
The statement said Meyer “acknowledged the potential of Pakistan’s mineral sector,” adding that American companies are interested in exploring investment opportunities.
He reaffirmed Washington’s interest in expanding bilateral cooperation, including in such sectors as trade, investment, and counterterrorism, the statement said. Sharif said Pakistan’s minerals sector offered “immense opportunities” and encouraged US companies to take advantage of the investment potential.
Sharif expressed Islamabad’s desire to strengthen ties with the Trump administration. Meyer’s visit marks the first by a Trump administration official since the US imposed a 29 percent tariff on Pakistani exports as part of his trade war.
Sharif’s office said in a statement later Wednesday that the Pakistani prime minister will dispatch a high-level delegation to Washington to negotiate with Trump administration officials over the tariffs issue and to discuss how to enhance bilateral trade.


Top New York firm plans to open local office amid Pakistan’s privatization drive – finance ministry

Updated 09 April 2025
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Top New York firm plans to open local office amid Pakistan’s privatization drive – finance ministry

  • Alvarez & Marsal delegation meets finance minister to discuss privatization, establishment of a sovereign wealth fund
  • Pakistan aims to privatize over 50 state-owned companies within the next four years to reduce its financial burden

KARACHI: A global professional services firm from New York is considering opening an office in Pakistan to assist the government with privatizing state-owned enterprises (SOEs) before 2030, as part of efforts to overhaul public entities and improve their performance, the finance ministry said on Wednesday.
Alvarez & Marsal (A&M), founded in 1983 and operating in over 30 countries, is renowned for its expertise in corporate restructuring and turnaround management. It is offering its services to the government as Pakistan plans to privatize over 50 SOEs within the next four years due to their significant impact on the national exchequer.
The A&M delegation, led by Division Executive Peter Briggs, Managing Director Abdalla ElEbiary and Global Head of Sovereign Advisory Reza Baqir — the former governor of Pakistan’s central bank — met with Finance Minister Muhammad Aurangzeb in Islamabad to discuss the firm’s role in Pakistan’s privatization process and the establishment of a sovereign wealth fund.
“During the meeting, Briggs emphasized A&M’s strong commitment to investing in Pakistan,” the finance ministry said in a statement.
“He mentioned that the firm is considering opening an office in Pakistan as part of its broader commitment to assist the government in its privatization efforts and to attract potential global investors to the country.”
So far, the company has not issued a statement on the meeting. However, the ministry said Briggs highlighted the firm’s long-term strategy to expand in the region, noting that Pakistan’s growing market presents investment and growth opportunities.
Aurangzeb thanked the delegation for their company’s contribution to the privatization of power distribution companies and highlighted the government’s commitment to the process, with 24 SOEs already in the privatization pipeline.
In February, Pakistan signed a financial advisory agreement with A&M to privatize three major power distribution companies. This agreement was part of the government’s broader effort to reform the power sector, which has long faced issues like circular debt, operational inefficiencies and power theft.
The divestment of state-run power companies is a key component of Pakistan’s economic reform agenda, as outlined in the IMF’s current $7 billion loan program.
Last year, a Pakistan cabinet committee responsible for the Privatization Program 2024–29 approved the privatization of 24 entities. However, it decided that the inclusion of other state entities would be determined after a review to assess their categorization as strategic or essential enterprises.
 


Over 6,000 Afghan nationals repatriated from Punjab in mass deportation campaign

Updated 09 April 2025
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Over 6,000 Afghan nationals repatriated from Punjab in mass deportation campaign

  • Islamabad asked around 800,000 Afghans holding citizen cards to leave Pakistan last month
  • Officials said this week over 13,500 Afghan nationals have been repatriated since April 1

ISLAMABAD: Pakistan has repatriated over 6,000 Afghan refugees from the eastern Punjab province as Islamabad intensifies its mass deportation campaign to send illegal foreigners and Afghan Citizen Card (ACC) holders back to their home countries, a senior police official said on Wednesday.
Last month, Pakistan set a deadline for approximately 800,000 Afghan nationals holding ACCs, a registration card issued by Islamabad, to leave the country by Mar. 31. Pakistani officials said earlier this week over 13,500 Afghan nationals had been repatriated since April 1.
“A total of 6,132 illegal immigrants have been deported from Lahore and across the province,” Inspector General of Punjab Police, Dr. Usman Anwar, said in a statement. “During the campaign, over 8,227 illegal immigrants have been sent to holding centers.”
He added that 2,095 illegal foreigners were currently being held at 46 holding centers set up across the province, including five in Lahore.
Highlighting that Pakistan was merely following an international deportation policy in accordance with international laws, Anwar said the data for around 89,000 illegal foreigners, including ACC holders was available.
He said the federal government and sensitive agencies were monitoring the mass deportation campaign, adding that security was on high alert throughout the province.
Anwar maintained that human rights were being upheld during the evacuation process, urging his deputies to accelerate the deportation of illegal foreigners.
According to United Nations data, Pakistan has hosted over 2.8 million Afghan nationals fleeing decades of war and instability. Of these, around 1.3 million are formally registered as refugees with Proof of Registration cards that grants them legal protection.
Pakistan decided in 2023 to deport Afghan nationals following a rise in suicide attacks, particularly in the northwestern Khyber Pakhtunkhwa province. Islamabad accused Afghan nationals of being involved in these attacks and blamed the Taliban-led government in Afghanistan for sheltering anti-Pakistan militants. Kabul denied the allegations, saying Pakistan’s security issues are its internal matter.
International rights groups accuse Pakistani police and authorities of harassing and intimidating Afghan refugees during the forced expulsion drive. However, Pakistani officials deny these allegations, saying Afghan nationals are being sent back to their homeland with dignity.