'We have to take sides': Pakistani billionaire from Kyiv calls for support for Ukraine

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Updated 09 March 2022
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'We have to take sides': Pakistani billionaire from Kyiv calls for support for Ukraine

  • Mohammad Zahoor set up a conglomerate operating in real estate and the steel industry in Ukraine
  • He gained the title of ‘Pakistani Press Prince of Kyiv” after buying the English daily Kyiv Post in 2009

ISLAMABAD: A Ukrainian businessman of Pakistani origin, a major figure in the Eastern European country’s media and steel industries, has called for international support for Kyiv as Russia’s invasion of Ukraine entered its 13th day.

Born in the Pakistani megapolis of Karachi in 1955, Mohammad Zahoor was 19 when he first traveled to Ukraine, then a part of the Soviet Union, to study metallurgy on a Pakistan Steel Mills scholarship. After completing his master’s degree, he returned to Pakistan to work in the steel sector.

Years later, as the Union of Soviet Socialist Republics fell apart and Ukraine became an independent state in 1991, Zahoor went back to participate in the country’s transition into a capitalist economy. He invested in the steel sector and established ISTIL Group, a conglomerate operating in real estate, manufacturing, and coal enrichment.

The businessman also became involved in Ukraine’s media and entertainment scene, buying the Kyiv Post, the oldest English-language newspaper in Ukraine, in 2009, which he owned for nearly a decade, and which earned him the title of “Pakistani Press Prince of Kyiv.” In 2018, he sold the paper to Syrian Adnan Kivan for $3.5 million.

Married to Kamaliya, a Ukrainian pop star and former Mrs. World beauty pageant titleholder, Zahoor left Kyiv with the couple’s two daughters after the Russian invasion, with his wife joining a few days later. The family is currently staying in London.




Muhammad Zahoor (2nd row, left) with his wife and children at a ceremony where his wife, Kamaliya (2nd row right), receives person of the year award for her singing and charity work in Kyiv, Ukraine in 2019. (Photo courtesy: Muhammad Zahoor)

In an interview to Arab News last week, the tycoon called on world powers to side with Ukraine, where the number of refugees fleeing to neighboring countries has surged past two million.

“This is time, actually, for us not to keep quiet, we have to take sides,” Zahoor said in a Zoom interview. “I am openly taking the side of Ukraine … this is the time actually for everyone to speak up for Ukraine, otherwise every big country is going to swallow its next-door neighbor.”

“It’s more than ten days that civilians are [being] bombarded, the nuclear plant has been targeted,” Zahoor said, referring to Ukraine’s Zaporizhzhia plant, the largest in Europe, which was seized by Russia last week.

“I think we are in the worst crisis in the world since the Second World War,” he added, saying a nuclear accident “in the middle of Europe” could be worse than the 1986 Chernobyl disaster, considered the worst nuclear accident in history both in terms of cost and casualties.




Muhammad Zahoor (right) receives a donation for his wife’s charity to build a pediatric cardio center in Kyiv, Ukraine on December 9, 2018. (Photo courtesy: Muhammad Zahoor)

He lamented that European powers, as well as the United States and Britain, had not done enough to come to Ukraine’s aid, saying Ukrainian President Volodymyr Zelensky had been calling for intervention much before the Russian invasion.

“I think Europe has done much little than they should have done,” he said. “Not only EU, but America and UK as well.”

The EU, the United States, Britain and others have hit Russia with a wide range of sanctions after its invasion of Ukraine, and also imposed asset freezes, travel bans and other restrictions on numerous Russian individuals, including President Vladimir Putin himself.




Muhammad Zahoor, who later became a billionaire through steel business in Ukraine, during his days in Moscow, Russia in 1990. (Photo courtesy: Muhammad Zahoor)

On Tuesday, the United States and Britain moved to ban Russian oil imports, a decision that is expected to worsen disruptions in the global energy market as Russia is the second-largest exporter of crude.

Zahoor said the war could have consequences for Russia similar to the Soviet-Afghan war in 1979-89, which drastically weakened the Russian military and economy. The defeat in Afghanistan was one of the major blows that caused the Soviet Union to fall apart.

“Ukraine is going to be the next Afghanistan for Russia,” Zahoor said. “I don’t know how many years they are going to be in Ukraine but once they are out, they will be broken into pieces.”


Pakistan announces four-day holiday on Eid Al-Adha

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Pakistan announces four-day holiday on Eid Al-Adha

  • Eid Al-Adha is one of two important Islamic festivals, in which Muslims sacrifice animals and share their meat among family, friends and the poor
  • Believers observe the annual festival to commemorate the willingness of Prophet Ibrahim (Peace Be Upon Him) to sacrifice his son on God’s command

ISLAMABAD: Pakistan has announced a four-day holiday on Eid Al-Adha starting from June 6, the Cabinet Division said on Monday.

Eid Al-Adha is one of the two most important festivals of the Islamic calendar. The other, Eid Al-Fitr, occurs at the end of Ramadan, the holy month of fasting.

Muslims mark the Eid Al-Adha holiday by slaughtering animals such as sheep and goats, and the meat is shared among family and friends and donated to the poor.

“The prime minister has been pleased to declare 6th, 7th, 8th and 9th June, 2025, (Friday, Saturday, Sunday and Monday) as public holidays on the occasion of Eid Al-Adha,” the Cabinet Division said.

Last week, Pakistan’s moon sighting committee announced that the crescent marking the beginning of the Islamic month of Dhul Hijjah was not sighted due to unclear skies and the Eid Al-Adha festival would commence from June 7.

Eid Al-Adha is observed on the 10th day of Dhul Hijjah to commemorate the willingness of Prophet Ibrahim (Peace Be Upon Him) to sacrifice his son on God’s command.

Dhul Hijjah is the twelfth and final month of the Islamic calendar, a sacred period during which the Hajj pilgrimage takes place. This year, the annual Hajj pilgrimage will commence on June 4.


Pakistan’s Air Sial launches inaugural flight to UAE

Updated 02 June 2025
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Pakistan’s Air Sial launches inaugural flight to UAE

  • Flight took off from Islamabad around 11:34am with 137 passengers aboard
  • The Pakistani airline already operates flights to cities in Saudi Arabia and Oman

ISLAMABAD: Air Sial, a Pakistani private airline, has launched its first flight to the United Arab Emirates, it said on Monday, in a significant development for the Pakistani aviation industry.

Inaugurated in 2020 by the Sialkot Chambers of Commerce and Industry, the airline initially aimed to improve air travel to and from Pakistan’s Sialkot city, a major industrial hub in the eastern Punjab province.
Over the years, Air Sial has expanded its operations not just countrywide, but to countries in the Gulf region and uses a fleet of modern Airbus A320 aircraft.

“Pakistan Airports Authority successfully facilitated and supervised the launch of Air Sial’s inaugural international flight (PF784) from Islamabad International Airport to Dubai,” Air Sial said on Monday, adding the flight departed around 11:34am with 137 passengers aboard.

Air Sial’s domestic network includes major cities like Karachi, Lahore, Islamabad, Sialkot, Quetta and Multan.

The airline entered the international market in March 2023 with the launch of its inaugural flight to Jeddah, Saudi Arabia. It also flies to Riyadh, Madinah and Dammam.

Air Sial extended its international reach the same year in June by launching direct flights from Pakistan to Oman.

Late last month, the state-run Pakistan International Airlines (PIA) also resumed direct flights between Dubai and Pakistan’s mountainous Skardu district in a bid to boost tourism.


‘Ghar Se Ghar Tak’: Pakistan Hajj pilgrims to be facilitated through designated administrators

Updated 02 June 2025
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‘Ghar Se Ghar Tak’: Pakistan Hajj pilgrims to be facilitated through designated administrators

  • Pilgrims around the world travel to “Mashair,” sacred sites in Makkah, from 8 to 13 Dhul Hijjah to perform religious rituals
  • “Nazims” will travel with Pakistani pilgrims from Mina to Arafat, Muzdalifah to Jamarah and back to Makkah, says state media

ISLAMABAD: Pakistan’s government has introduced an ambitious plan for the first time through which a designated “nazim” or administrator will assist a group of 188 Pakistani Hajj pilgrims during the peak days of the pilgrimage as they travel from Mina to Muzdalifah and back to Makkah, state-run media reported on Monday. 

“Mashair days” is a term used to refer to the dates from 8 to 13 Dhul Hijjah, the last month of the Islamic lunar calendar. These are the peak Hajj days when pilgrims from all parts of the world move between Mina, Arafat, Muzdalifah, and then return to Mina, performing religious rituals at sacred sites in Makkah. 

Pakistan’s Coordinator Facilitation Makkah Sajjad Haider Yaldram said that as per the government’s ‘Ghar Se Ghar Tak’ (Home to Home) plan, each nazim or Hajj administrator will assist a group of 188 Pakistani Hajj pilgrims throughout the Mashair days this year.

“The nazim will accompany the group from Mina to Arafat, Muzdalifah to Jamarah and back to Makkah,” Yaldram was quoted as saying by the state-run Associated Press of Pakistan. 

Each nazim will be assisted by two assistants, along with three personnel from the Saudi Tawafa company Al-Rajhi during these days. 

He said the Punjab Information Technology Board has also developed an online mobile application, “Pak Moavin,” which enables real-time monitoring of all Hajj support staff personnel from their place of deployment. 

Speaking about the “Pak Hajj 2025” app, he said it provides essential information, including the personal details of pilgrims, group information, building locations and other services. 

“We have received great feedback from pilgrims about the app,” Yaldram said. “It’s a source of satisfaction and motivation for us. All the information is centralized, notifications are integrated, and maps help locate missing pilgrims.”

This year, Hajj rituals will commence on June 4, with the Day of Arafah on June 5, and Eid Al-Adha to be observed on June 6 in Saudi Arabia.


Pakistan inflation inches up 3.5% year-on-year in May 2025

Updated 02 June 2025
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Pakistan inflation inches up 3.5% year-on-year in May 2025

  • Inflation has cooled significantly, easing from 37.97% in May 2023
  • Federal budget for fiscal year 2025-26 will be released on June 10

KARACHI: Pakistan’s annual inflation rate rose to 3.5% in May, higher than the April 2025 reading of 0.3%, data from the statistics bureau showed on Monday.

On a month-on-month basis, inflation decreased by 0.2% in May 2025, as compared to a decrease of 0.8% in the previous month and a decrease of 3.2% in May 2024. The CPI inflation average during 11MFY25 stood at 4.61%, compared to 24.52% in 11MFY24.

Inflation has cooled significantly, easing from 37.97% in May 2023.

The CPI reading is higher than the government’s expectations. In its monthly economic report released last week, the finance ministry expected inflation to ease to between 1.5% and 2% year-on-year in May, before picking up to 3%-4% in June.

“CPI inflation General, increased to 3.5% on year-on-year basis in May 2025 as compared to 0.3% of the previous month and 11.8% in May 2024,” the Pakistan Bureau of Statistics (PBS) said in its monthly report.

“On month-on-month basis, it decreased by 0.2% in May 2025 as compared to a decrease of 0.8% in the previous month and a decrease of 3.2% in May 2024.”

Food items, whose prices recorded an increase, included Eggs (24.38%), Chicken (8.63%), Condiments and Spices (5.50%), Sugar (4.07%), Gur (3.66%), Milk Powder (2.80%), Potatoes (1.64%), Butter (1.31%), Fresh Fruits (1.21%), Pulse Gram (1.09%), Beverages (0.87%), Meat (0.82%), Sweetmeat (0.79%) and Pulse Moong (0.53%).

Non-food items that witnessed an increase in rates were Cotton Cloth (3.20%), Motor Vehicles (1.86%), Postal Services (1.74%), Major Tools & Equipment (1.23%), Readymade Garments (1.02%), Tailoring (0.95%) and Cleaning & Laundry (0.65%).

The latest CPI reading was also higher than projections made by several brokerage houses.

JS Global projected Pakistan’s headline inflation to inch up to 2.7% in May.

“Pakistan’s CPI is expected to clock in at 2.7% for May. The base effect is now fading, signaling a return to normalized price trends. This is likely to take 11MFY25 average inflation to 4.7%, down from 11MFY24 average of 24.9%,” JS Global had said in a report.

Last month, the State Bank of Pakistan cut the key interest rate by 100 basis points (bps) to 11%, the lowest policy rate since March 2022 (9.75%). The central bank has cut the rate by 1,100 bps since June from an all-time high of 22%.


CASA-1000 power line project with Pakistan to be completed next year — Tajikistan minister

Updated 02 June 2025
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CASA-1000 power line project with Pakistan to be completed next year — Tajikistan minister

  • $1.2 billion project aimed to allow export of Central Asian electricity to Afghanistan, Pakistan by 2020
  • Project was launched in 2016 but has been stalled for years by turmoil and violence in Afghanistan

ISLAMABAD: Tajikistan’s Deputy Minister for Energy Jamshed Shoimzoda has said a $1.2 billion Western-backed project to build a power line between Central Asia and South Asia would be completed by December next year, state news agency APP reported on Monday. 

The CASA-1000 project, launched in 2016, aims to allow Tajikistan and Kyrgyzstan, former Soviet republics with an extensive network of hydroelectric power plants, to sell excess energy to Pakistan and Afghanistan in the summer months. The project, initially meant to allow the export of electricity to Afghanistan and Pakistan by 2020, has been stalled for years by turmoil in Afghanistan. 

Tajikistan and Kyrgyzstan generate most of their energy from hydropower plants built on the rivers that flow into Kazakhstan, Turkmenistan and Uzbekistan. Tajikistan and Kyrgyzstan limit water release during summer due to lower power demand, angering their neighbors who need water for irrigation. The five countries have failed to reach an agreement after decades of negotiations. 

The new power line could smooth flows as power demand in Pakistan peaks during the summer months.

“Major energy project, CASA-1000 between Pakistan and Tajikistan, will be completed by December 2026, which will start providing 1000 MW of electricity to Pakistan,” Shoimzoda said in an interview to APP.

“This grand project will take time to be operational by January 2027, after which bilateral cooperation in the energy sector between the two countries will be further promoted and there will be a new beginning of clean and green energy projects in both countries.”

Tajikistan aims to completely switch to green energy and zero emission by 2027.

“The transmission capacity of the CASA-1000 energy project will be 1,300 megawatts, which will be an energy link between Tajikistan, Pakistan, and Afghanistan to provide clean energy not only to regional countries but also fill the need of Pakistan’s industrial sector,” Shoimzoda said. 

“Massive infrastructural projects will be beneficial for all of its stakeholders by fulfilling energy needs and strengthening regional connectivity.”

Shoimzoda said Tajikistan has the capacity to export 10 billion kilowatt of energy annually, which would benefit all countries in the region, including Pakistan. Tajikistan also currently has the capacity to generate 500 billion KW of electricity, the highest among regional countries in hydel power.

The minister said Tajikistan was already providing electricity to other regional countries, including Afghanistan, and in the future would create a regional energy hub, to “usher in a new era of sustainable energy production and economic prosperity in the region.”

The United States was initially involved in financing the 1,200-km-long line as part of its New Silk Road initiative to integrate Afghanistan with Central Asia. Other project sponsors have included the World Bank, Islamic Development Bank, the UK Department for International Development, and the European Bank for Reconstruction and Development.