#PAKISTANI PRIME MINISTER SHAHID KHAQAN ABBASI

[emergingpakistan]

Miftah Ismail

Miftah Ismail (born 23 July 1965) is a Pakistani politician and political economist who served as Pakistan's Minister of Finance from 19 April 2022 to 27 September 2022. While only serving 5 months in office, he had to undertake hard economic challenges in office when the country was struggling economically. He also served on previous government from April 2018 to May 2018. Prior to that, he served as the Federal Adviser on Finance, Revenue and Economic Affairs, chairman of the Pakistan Board of Investment and an economist with the International Monetary Fund. Early life and career He was born on 23 July 1965 in Karachi, Sindh. Ismail received his B.S. degree from Duquesne University in business studies in 1985, followed by a Ph.D degree in public finance and political economy from the Wharton School, University of Pennsylvania, in 1990. Ismail worked with the International Monetary Fund as an economist based in Washington, D.C. in the early 1990s. He returned to Pakistan to work for his family business, Ismail Industries Limited, in 1993. The business includes the manufacturing of confectionery (candies), biscuits, potato chips, and plastics and has an annual revenue of about 200 million dollars. 

Political career Ismail joined the Pakistan Muslim League (N) in 2011 and served as the head and vice-chairman of Punjab Board of Investment and Trade from 2012 to 2013. During the 2013 Pakistani general election, Ismail served as a member of the election strategy team and the manifesto committee of Pakistan Muslim League (N).[6] In October 2013, Ismail became a member of the Board of Directors of Pakistan International Airlines. In November 2013, he joined the Board of Directors of Sui Southern Gas Company. Both of these positions he retained until 4 January 2014, when he was appointed as the head of Federal Board of Investment and was added as a junior member of the Prime Minister Sharif's cabinet. Under his leadership the Board of Investment underwent massive restructuring including winding up of its regional offices. During his tenure at the Board of Investment, the government of Pakistan formulated a new automobile sector policy that has attracted a lot of new investment in the automobile sector. Ismail has served as adjunct faculty at the Institute of Business Administration and also as chairman of the board at Karachi American School.  After being appointed as one of the key finance advisers to the Prime Minister Shahid Khaqan Abbasi in December 2017, he stated that one of his top priorities is to help broaden the extremely narrow tax base in Pakistan which would strengthen the overall economy. He said that he would help design an economic policy that gives opportunity to the wealthy Pakistanis abroad to bring back their wealth. In other words, the government was ready to initiate an 'offshore tax amnesty scheme' soon. On 27 April 2018, Ismail took oath as Federal Minister for Finance, Revenue and Economic Affairs in Shahid Khaqan Abbasi's cabinet, where he served until 31 May 2018. He took again oath as Finance minister on 19 April 2022 and resigned on 27 September 2022 to pave way for Ishaq Dar the next finance minister. Courtesy : Wikipedia

[streetheart-serendipity]

✨ . Work by @jodibona For @unwhite_it Paying tribute to Malala Yousafzai aka Malala. . She is a Pakistani activist for female education and the youngest Nobel Prize laureate. She is known for human rights advocacy, especially the education of women and children in her native Swat Valley in Khyber Pakhtunkhwa, northwest Pakistan, where the local Pakistani Taliban had at times banned girls from attending school. Her advocacy has grown into an international movement, and according to former Pakistani Prime Minister Shahid Khaqan Abbasi, she has become "the most prominent citizen" of the country. . . . . . . . _____________________________________________ #graffiti_n_wallart #mural #instastreetart #instagraffiti #graffiti #be_one_urbanart #instaart #instagood #graffitiart #arteurbano #total_urbanart #contemporaryart #art #wall #painting #mixmedia #artwork #tv_streetart #urbanvibescommunity #urbanart #streetart #globalstreetart #streetartphotography #streetarteverywhere #streetartchat #jj_urbanart #artlovers #streetartmouanssartoux (à Mouans-Sartoux) https://www.instagram.com/p/CJ3DFvNgpfS/?igshid=1sklnvv2ddsf3

[whileiamdying]

Malala Yousafzai (Urdu: ملالہ یوسفزئی‎; Pashto: ملاله یوسفزۍ‎ [məˈlaːlə jusəf ˈzəj]; born 12 July 1997), also known mononymouslyas Malala, is a Pakistani activist for female education and the youngest Nobel Prize laureate. She is known for human rights advocacy, especially the education of women and children in her native Swat Valley in Khyber Pakhtunkhwa, northwest Pakistan, where the local Taliban had at times banned girls from attending school. Her advocacy has grown into an international movement, and according to former Pakistani Prime Minister Shahid Khaqan Abbasi, she has become "the most prominent citizen" of the country.

Yousafzai was born to a Pashtun family in Mingora, Khyber Pakhtunkhwa, Pakistan. Her family came to run a chain of schools in the region. Considering Muhammad Ali Jinnah and Benazir Bhutto as her role models, she was particularly inspired by her father's thoughts and humanitarian work. In early 2009, when she was 11–12, she wrote a blog under a pseudonym for the BBC Urdudetailing her life during the Taliban occupation of Swat. The following summer, journalist Adam B. Ellick made a New York Timesdocumentary about her life as the Pakistani military intervened in the region. She rose in prominence, giving interviews in print and on television, and she was nominated for the International Children's Peace Prize by activist Desmond Tutu.

On 9 October 2012, while on a bus in the Swat District, after taking an exam, Yousafzai and two other girls were shot by a Talibangunman in an assassination attempt in retaliation for her activism; the gunman fled the scene. Yousafzai was hit in the head with a bullet and remained unconscious and in critical condition at the Rawalpindi Institute of Cardiology, but her condition later improved enough for her to be transferred to the Queen Elizabeth Hospital in Birmingham, UK. The attempt on her life sparked an international outpouring of support for Yousafzai. Deutsche Welle reported in January 2013 that Yousafzai may have become "the most famous teenager in the world". Weeks after the attempted murder, a group of fifty leading Muslim clerics in Pakistan issued a fatwā against those who tried to kill her.[9] The Taliban was internationally denounced by governments, human rights organizations and feminist groups. Taliban officials responded to condemnation by further denouncing Yousafzai, indicating plans for a possible second assassination attempt, which was justified as a religious obligation. Their statements resulted in further international condemnation.

Following her recovery, Yousafzai became a prominent activist for the right to education. Based in Birmingham, she co-founded the Malala Fund, a non-profit organisation with Shiza Shahid, and in 2013 co-authored I Am Malala, an international best seller. In 2012, she was the recipient of Pakistan's first National Youth Peace Prize and the 2013 Sakharov Prize. In 2014, she was the co-recipient of the 2014 Nobel Peace Prize, along with Kailash Satyarthi of India. Aged 17 at the time, she was the youngest-ever Nobel Prize laureate. In 2015, Yousafzai was a subject of the Oscar-shortlisted documentary He Named Me Malala. The 2013, 2014 and 2015 issues of Time magazine featured her as one of the most influential people globally. In 2017, she was awarded honorary Canadian citizenship and became the youngest person to address the House of Commons of Canada. Yousafzai attended Edgbaston High School in England from 2013 to 2017, and is currently studying for a bachelor's degree in Philosophy, Politics and Economics at Lady Margaret Hall, Oxford.

[cathnews]

Pakistan's Mother Teresa to have a state funeral

Pakistan’s Mother Teresa to have a state funeral

The government of Pakistan will hold a state funeral on 19 August for “Pakistan’s Mother Teresa” – a German nun who devoted her life to eradicating Hansen’s disease (leprosy). Sister Ruth Katharina Martha Pfau, who was a member of the Daughters of the Heart of Mary died last week at the age of 87. She was often called the “Mother Teresa of Pakistan” for her treatment and care of people suffering…

[livesanskrit]

Send from Sansgreet Android App. Sanskrit greetings app from team @livesanskrit . It's the first Android app for sending @sanskrit greetings. Download app from https://livesanskrit.com/sansgreet Malala Yousafzai. Malala Yousafzai (born 12 July 1997), often referred to mononymously as Malala, is a Pakistani activist for female education and the youngest Nobel Prize laureate. She is known for human rights advocacy, especially the education of women and children in her native Swat Valley in Khyber Pakhtunkhwa, northwest Pakistan, where the local Tehrik-i-Taliban Pakistan had at times banned girls from attending school. Her advocacy has grown into an international movement, and according to former Pakistani Prime Minister Shahid Khaqan Abbasi, she has become "the most prominent citizen" of the country. #sansgreet #sanskritgreetings #greetingsinsanskrit #sanskritquotes #sanskritthoughts #emergingsanskrit #sanskrittrends #trendsinsanskrit #livesanskrit #sanskritlanguage #sanskritlove #sanskritdailyquotes #sanskritdailythoughts #sanskrit #resanskrit #malalayousafzai #malala #malaladay #malalayousafzaiquotes #activist #pakistan #pakistani #pakistaniactivist #activist #nobelprize #khyber #pakhtunkhwa #malafund #celebratingsanskrit #bbcurdu #pakistanterrorism https://www.instagram.com/p/Cf6K0UxLaC1/?igshid=NGJjMDIxMWI=

[fastworldnews1]

Shahbaz Sharif NCA probe: Govt embarrassing itself, says Shahid Khaqan Abbasi

Former prime minister Shahid Khaqan Abbasi on Tuesday lashed out at the government, saying that it had embarrassed itself in front of the world with the British National Crime Agency (NCA)'s probe against PML-N President Shahbaz Sharif.

In a hard-hitting press conference, flanked by Rana Sanaullah and Ahsan Iqbal, Abbasi said the government's claims that it was not involved or pursuing money laundering cases against Shahbaz had been exposed.

He said that the Assets Recovery Unit (ARU) and, as per the PML-N's sources, even Federal Investigation Agency (FIA) officials, used to go to London to meet NCA officials.

"The standard set by this government, when it comes to lying, is totally unique," he said. "The prime minister of this country, in his own office, creates an Asset Recovery Unit that has no legal basis. And what has that ARU done?" he questioned.

He referred to the papers in his hand, saying that they were official documents submitted by the NCA at the UK court.

Referring to the NCA probe against the PML-N president and his son Suleman, Abbasi said that normally in money laundering cases, financial transactions only six years back were traced.

"In this case, however, the probe stretched to cover financial transactions covering a period of over 20 years," he noted. "This inquiry was also not limited to just one country; it took place in Pakistan, the UK and the UAE."

The former prime minister said that money sent by Shahbaz from Pakistan to his UK bank account was legal money.

He said Shahbaz and Suleman had both given their consent to the NCA to probe their accounts. "Time and again, the NCA told the court that it has the complete support and cooperation of the Pakistani government and its agencies," he said.

Abbasi alleged that DG NAB Lahore, the ARU, FIA and other agencies were involved in framing allegations against the PML-N president. "And now, the prime minister of this country says his government had nothing to do with the probe," he said.

PML-N leader Ahsan Iqbal said that the government could not, till this day, find evidence of former prime ministers Nawaz Sharif and Shahid Khaqan Abbasi's involvement in corruption.

"Each case has slammed shut on their faces," he said, referring to the government. "You could not even prove corruption worth Rs32 in a Rs3,200bn project," he added.

Iqbal said that the government is failing the masses as it is busy registering fake cases against the Opposition. "However, your failure is becoming a matter of life and death for the public," he said.

Iqbal said the government itself was inviting trouble from the Financial Action Task Force (FATF) as the prime minister was repeatedly saying at international forums that political leaders in the country are involved in money laundering.

"This he does only to promote his politics of hatred and revenge," he said.

Shahbaz, Suleman's accounts ordered unfrozen

After 21 months of investigation and review of 20 years of financial affairs, a British court has ordered the unfreezing of the Opposition leader's bank accounts and those belonging to his son, Suleman Sharif.

The decision was taken by the court after UK's top anti-corruption body NCA concluded there was no evidence of money laundering, fraud and criminal conduct against the two, according to evidence seen by The News exclusively.

The Westminster Magistrates Court’s Judge Nicholas Rimmer set aside the two accounts freezing orders (AFO) against Shahbaz Sharif and his son related to a December 2019 case filed by the NCA at the Pakistani government's request.

The bank accounts of Shahbaz Sharif and Suleiman Shahbaz were freezed in December 2019 on court's order. The National Accountability Bureau East Recovery Unit shared the evidence with the British agency.

During the investigation, the accounts of the Shahbaz Sharif and Sharif family in the UK and UAE were investigated.

https://ift.tt/2XVQw0g

[hassanzohaib]

Booming Real Estate Sector In Pakistan

Residential property demand surged in Pakistan in 2010, and the interest of real estate developers in al jalil garden housing scheme and investors soared. As prices surpass PKR 10 million, new home complexes generally target the upper-middle class. The Government of Pakistan announced a cut in mortgage interest rates in 2012 to support the immobilizing sector.

📷

Growing Real Estate Sector And The Laws

The real estate sector is growing day by day, So does the revenue created by the sector.

In the previous fiscal year, the tax served by Pakistan's Profitability in the real estate sector, primarily unpaid taxes, was just Rs23 billion, or less than 0.1 % of the national economy's breadth. To deal with the competitive conditions created by a sick tax bearer management and a tax evasion system, Pakistan Tehreek-e-Insaf (PTI) has decided to contact the head of the Federal Board Of Revenue (FBR) from the private division.

Collection of Taxes Under An Amnesty Program

In the previous fiscal year 2017-18, Rs 23 billion was paid in the real estate sector, where there is a lot of black money. Involved Taxes collected under an amnesty scheme for districts declared after the Pakistan Muslim League's rule. Many well-known Pakistani figures are involved in real estate, which may be one of the key reasons for the failure of tax policy.

The significant tax imposed on the real estate industry has highlighted the challenges that PTI governance will face in bringing the sector into compliance. The law allows the government to appoint a ruthless procedure to appoint the FBR chairman from the private district. As a result, officials from the PTI aim to nominate a new chairperson from the private sector, with current Chairperson Ruksana Yasmeen possibly being requested to continue until a new appointment is made.

The collection of taxes on the fair market value of assets has become a difficult task. The PML-N established fair market prices for federal tax collection at the time when they established their administration. Prime Minister Shahid Khaqan Abbasi had taken a spirit and established a concept that the government purchases property issued at a lower value than the market price. However, the FBR has yet to announce the program's outcome and has taken no steps toward the appointment director-general for immovable properties.

Values Of Real Estate

According to real estate, the values that are documented are 30% of market price, owing to the extremely low deputy collector's amount for stamp duty collection. Wrong tax policies implemented by the government are being blamed for storing black money in the real estate sector. Currently, the authority generates three sorts of steps, which include:

● For tax purposes, property valuation rates are used.

● The second is the FBR-set rates.

● Last but not least, there are rates for provincial deputy collectors.

According to industry experts, the fundamental reason for the low tax collection in the real estate sector is that all large housing societies conduct business without recording transactions. FBR has also been unsuccessful in collecting taxes from builders and developers. The tax revenue generated from these sectors was only Rs 232.7 million, compared to Rs 190.3 million the previous year.

According to FPCCI (Federation of Pakistan Chambers of Commerce and Industry), real estate plays a key part in the country's economic growth. "The building sector has risen by 9%, showing strength, but this powerful industry requires assistance from the immobility industry," stated the company in a 2017 statement.

Lahore is one of Pakistan's greatest and most progressive cities to live and invest in. That is why investors usually regard Lahore to be comparable to casual purchasers in Lahore just because of the benefits and trustworthiness of this town. The question, therefore, comes to mind that you should invest in a Lahore housing company?

There are obviously some trust worthy and revenue yielding societies to invest in orbit. The most sound with easy five year installments is given below al jalil garden.

al jalil garden payment plan ( Easy Five Year Installments)

Al Jalil developers project is an important name for Pakistan's building and development sector. Al Jalil Garden Lahore Project is a world-class living experiment named after famous developers and an outstanding location. Not only is Al Jalil Garden an ideal location for both domestic and business reasons, but both alternatives are also bright.

The location of every house is important because the location of Al Jalil Garden Lahore is first and foremost because it is located right in front of the Faizpur interchange, just a few minutes drive from Mall Road and other key points in Lahore that prove it to be one of the finest housing projects.

Bottom Line

As our Real estate sector is booming you may invest to get benefitted from this, and make sure you invest in a trustworthy and sound Society. Where the chances of returns are greater. unhindered since these projects are under the label of

● Trustworthy

● future chaos-free

● completely developed

● and guaranteed investors

● better money-back plan

[indianarrative1]

Things are getting out of control in Pakistan as Imran Khan and his Tehreek-e-Insaf government is using the National Accountability Bureau (NAB) to detain critics of the government, the country’s leading Opposition parties have alleged after a latest, damning report by the Human Rights Watch (HRW) agency.

Today afternoon saw massive violence outside the NAB office in Lahore as Maryam Nawaz Sharif, daughter of former prime minister of Pakistan Nawaz Sharif, arrived for an appearance before the authorities in a corruption case. The Pakistan Muslim League-Nawaz (PML-N) leader posted several videos on social media showing Lahore policemen pelting stones at her car, saying it was a huge “shame” as the government is openly targeting her.

PML-N and the Pakistan Peoples Party (PPP) have been demanding sacking of NAB Chairman, retired Justice Javed Iqbal, as the agency has become a political tool. The New York-based Human Rights Watch has also urged the Pakistani authorities to follow up a recent Supreme Court decision and investigate, prosecute NAB officials responsible for unlawful arrests and other abuses in the country.

On July 20, Pakistan’s Supreme Court, in an 87-page decision, ruled that the NAB had violated the rights to fair trial and due process in the arrest of two Opposition politicians, Khawaja Saad Rafique and Khawaja Salman Rafique, whom the NAB detained for 15 months without reasonable grounds. The court granted the men bail and criticized the NAB for showing “utter disregard to the law, fair play, equity and propriety,” ruling that the “case was a classic example of trampling of fundamental rights (and) unlawful deprivation of freedom.”

“The Pakistani Supreme Court judgment is just the latest indictment of the NAB’s unlawful behavior,” said Brad Adams, Asia director at Human Rights Watch. “Pakistani authorities should stop using a dictatorship-era body, possessing draconian and arbitrary powers, to intimidate and harass opponents.”

Pakistan’s parliament should carry out urgent reforms to make the anti-corruption body independent, Human Rights Watch said.

In its decision, the Supreme Court also expressed concern about the use of the NAB as an instrument to target government opponents. The court cited a February report by the European Commission that criticized the NAB for bias, noting that “very few cases of the ruling party ministers and politicians have been pursued since the 2018 elections, which is considered to be a reflection of NAB’s partiality.”

NAB was created under an ordinance promulgated by the military dictator General Pervez Musharraf in 1999. The ordinance gave NAB unchecked powers of arrest, investigation, and prosecution. The authorities may detain people arrested under the accountability ordinance for up to 90 days without charge. In its decision, the Supreme Court commented on NAB’s arbitrary use of powers of arrest, noting that an arrest has to be justified… The power of arrest should not be deployed as a tool of oppression and harassment.”

NAB arrested Mir Shakil-ur-Rehman, editor-in-chief of the Jang group, the largest media group in Pakistan, in Lahore on March 12 on charges relating to a 34-year-old property transaction. He has remained in the agency’s custody ever since.

In another example of harassment, the NAB court summoned the former president and opposition leader Asif Ali Zardari, to appear in person to record a statement, denying his request to record a statement through a video link because of his ill-health and Covid-19. Zardari previously spent 11 years in prison, more than half in NAB custody, without a conviction.

In December 2018, Mian Javed Ahmed, a professor at University of Sargodha, died in NAB’s custody. Dr. Mujahid Kamran, the former vice-chancellor of the Punjab University, who was arrested by the NAB on allegations of illegal appointments at the university, described NAB detention centers as “torture cells.”

“Pakistani authorities should uphold the government’s human rights obligations,” HRW’s Adams said. “Pakistan’s parliament should amend or repeal the NAB ordinance to ensure that the principles of fair trial, due process, and transparency are not compromised on the pretext of accountability.”

Earlier this year, Shahid Khaqan Abbasi, the former PM of Pakistan, had called NAB a terrorist organization.

Protest rallies are also being organized all over Pakistan against the arrest of Jang/Geo Media Group editor-in-chief, Mir Shakil-ur-Rahman, who has been behind bars since March 12.

“There was a nexus between the Pakistan Tehreek-e-Insaf (PTI) government and National Accountability Bureau (NAB) and both had joined hands to target the governmental opponents and independent media. Speakers in the rally said that the arrest of Mir Shakil-ur-Rahman in a 34-year-old property case clearly pointed to victimization,” The News International reported on one such rally held in Peshawar yesterday.

[acharya123himal]

Corona infection to former Pakistani PM

Corona infection to former Pakistani PM

[ad_1]

26 June, Kathmandu. Former Pakistani Prime Minister Shahid Khaqan Abbasi has been diagnosed with Corona Virus (CoVID-19). On Monday, his family and party confirmed that he had contracted the corona virus. Abbasi became the Prime Minister of Pakistan for 10 months from 2017 to 2018 after Nawaz Sharif was disqualified from assuming office. He is in isolation after being infected with the…

[livesanskrit]

Send from Sansgreet Android App. Sanskrit greetings app from team @livesanskrit . It's the first Android app for sending @sanskrit greetings. Download app from https://livesanskrit.com/sansgreet Malala Yousafzai. Malala Yousafzai (born 12 July 1997), often referred to mononymously as Malala, is a Pakistani activist for female education and the youngest Nobel Prize laureate. She is known for human rights advocacy, especially the education of women and children in her native Swat Valley in Khyber Pakhtunkhwa, northwest Pakistan, where the local Tehrik-i-Taliban Pakistan had at times banned girls from attending school. Her advocacy has grown into an international movement, and according to former Pakistani Prime Minister Shahid Khaqan Abbasi, she has become "the most prominent citizen" of the country. #sansgreet #sanskritgreetings #greetingsinsanskrit #sanskritquotes #sanskritthoughts #emergingsanskrit #sanskrittrends #trendsinsanskrit #livesanskrit #sanskritlanguage #sanskritlove #sanskritdailyquotes #sanskritdailythoughts #sanskrit #resanskrit #malalayousafzai #malala #malaladay #malalayousafzaiquotes #activist #pakistan #pakistani #pakistaniactivist #activist #nobelprize #khyber #pakhtunkhwa #malafund #nobelpeaceprize #bbcurdu #pakistanterrorism https://www.instagram.com/p/CRMXx-RLvzX/?utm_medium=tumblr

[statedept]

Secretary Tillerson met with Pakistani Prime Minister Shahid Khaqan Abbasi today in Islamabad, #Pakistan. The two leaders discussed U.S.-Pakistan bilateral cooperation, expanding economic ties between the two countries, and Pakistan’s critical role in the success of the U.S. strategy in South Asia.

[jordanianroyals]

13/12/2017: King Abdullah II held talks on the sidelines of the Organization of Islamic Organization summit meeting in Istanbul, with Malaysian Prime Minister Najib Abdul Razak and Pakistani Prime Minister Shahid Khaqan Abbasi that focused on the repercussions of the US decision to recognize Jerusalem as the capital of Israel.

The King urged the international community as well as the United States to shoulder their responsibilities to reach a comprehensive solution to the Palestinian-Israeli conflict leading to security and stability in the region and the establishment of an independent Palestinian state with East Jerusalem as its capital. (Source: Petra)

His Majesty said that failure to reach a solution to the Palestinian-Isralei conflict will undermine security and stability in the region and the world and lead to more extremism and violence.

His Majesty also affirmed the importance of intensifying efforts and coordination among Islamic states to protect Jerusalem and its historical identity as well as Islamic and Christian holy sites in the city. Jerusalem, he said, is key to peace, security and stability in the region due to its importance for Arabs and Muslims, highlighting the need to support the Palestinians to enable them to regain their legitimate rights in establishing an independent state on the Palestinian national soil with East Jerusalem as its capital.

The meetings were attended by the prime minister, the foreign minister and the director of the King's Office.

[riyadhvision]

Saudi King Salman reviews regional issues with Pakistani prime minister

Prime minister Shahid Abbasi being greeted by King Salman.

:: Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received at his palace here today Pakistan’s Prime Minister Shahid Khaqan Abbasi.

The Custodian of the Two Holy Mosques hosted a luncheon in honor of Pakistan’s Prime Minister Shahid Khaqan Abbasi.

The audience was attended by Prince Faisal bin Bandar bin Abdulaziz,…

[itsahadrazastuff-blog]

The Future of Foreign Investment in Pakistan: Highs and Lows!

In this regard, the appointment of Ali Jehangir Siddiqui as Pakistan’s Ambassador for foreign investments in June 2019 is one of the steps Pakistan has taken in revamping its foreign strategies. A Cornell University graduate with his roots in business, Ali Jehangir Siddiqui has served as a special assistant to the Prime Minister of Pakistan in 2017. The very next year, Siddiqui was appointed at Pakistan’s ambassador to the US. Pakistan’s Fight With The Current Economic Downfall

Foreign investments are directly linked with the economic growth of a country. The more profound the foreign investments a country receives, the more sustainable the economy is. Through foreign investments countries are able to globalize, improve their economic growth and find expansion in domestic and foreign markets. Moreover, foreign investments create job opportunities and create value chains.

  The State Of Foreign Investment In Pakistan

Pakistan lags in attracting sufficient foreign investment—besides that from China. To make matters worse, local investors are dubious of the justice system in the country as well as its law and order conditions. Due to these reasons, profound amount of funds are sent out annually from the country. Financial experts consider this as one of the reasons for economic instability in Pakistan.

Last year, the findings of a suo moto case revealed a whopping $15.253 billion had been sent out of the country to foreign regions during the fiscal year of 2016-17. After this report, the then Chief Justice formed a committee of experts to retrieve the funds from abroad.

Because of this profound drain of the country’s assets there’s been a downfall in the currency exchange rates—as seen by the surge in US dollar and Pound rates against the Pakistani rupee. Moreover, this has severely impacted the country’s reserves of foreign exchange. The negative impacts of this outflow of funds from the country can be seen in the economic lurch the country is facing along with the constant foreign currency strains. In addition to that, inflation is at an all-time high because of the excessive wealth of the country transferred to foreign accounts.

Pakistan’s Fight With The Current Economic Downfall

Even with these issues, Pakistan can grow to give competition to the markets in the region. Pakistan receives foreign direct investments (FDI) in oil and gas, construction and energy sectors. Moreover, government has taken several initiatives to attract foreign investments, such as more privatization, tax incentives, equality with local and foreign investors, etc. Furthermore, the government of Pakistan is improvising its economic reforms to further improve economic development and investment situation in the country.

In this regard, the appointment of Ali Jehangir Siddiqui as Pakistan’s Ambassador for foreign investments in June 2019 is one of the steps Pakistan has taken in revamping its foreign strategies. A Cornell University graduate with his roots in business, Ali Jehangir Siddiqui has served as a special assistant to the Prime Minister of Pakistan in 2017. The very next year, Siddiqui was appointed at Pakistan’s ambassador to the US.

During his tenure as the special secretary and ambassador, Ali arranged meetings of the then Prime Minister, Shahid Khaqan Abbasi with foreign dignitaries in the World Economic Forum. For his notable services, Ali was honored by the title of a Young Global Leader by the World Economic Forum in 2014.

Ali—a business-minded individual—invested in American Express Bank (JS Bank now) to serve his country and support its economic growth. JS Bank controls financial services in Pakistan, including asset management, company research, commercial banking, Islamic banking, micro finance, stock brokerage and insurance investment banking. The institution is working

JS Bank’s accreditation of the Green Climate Fund (GCF) will help the private sector organizations in reducing the emissions of greenhouse gases (GHG) by investing in climate-resilient and low-emission programs. This program allows JS Bank to apply for funds up to USD 250 million for a project. This is definitely the pathway for more local and foreign investments in the country.

Pakistan’s Economy And The Future

Though foreign investments may be scarce, there’s a hope for a bright future under the present government. However, the present government needs to ensure sociopolitical stability within the region as well as create a fair business environment to attract international as well as domestic investors. This will need drastic measures to improve the legal framework in the country to protect the rights of the investors. Moreover, refining institutions that are related to investment and business is vital in attracting foreign investments.

Nature has gifted Pakistan with a crucial geopolitical location crucial for all trade routes within the region. While Pakistan is busy with its mega infrastructure project with China, it needs to consider involving other nations in similar projects. Opening trade routes and improving its bilateral relationship with its neighboring countries will help encourage stability and peace in the entire region.

Pakistan has a profound population of young people in the workforce. Providing them quality education and training is pivotal in building a supreme workforce of the future.

Moreover, Pakistan needs to focus on research and development in the country. This will lead to the creation of many products and job opportunities, decreasing its dependency on imported goods.

In short, in order to attract more foreign investments in the country, Pakistan needs to focus on its economic stability.  

[prayagraj]

Former #Pakistani #PM #Abbasi arrested on corruption charges #Pakistan's anti-corruption agency arrested former #PrimeMinister #ShahidKhaqanAbbasi on Thursday, a spokesman for the agency, the National Accountability Board (#NAB), said.  He gave no details on the grounds for the #arrest but a copy of the arrest #warrant shared by Abbasi's PML-N party indicated that he was accused of "#corruption and #corrupt practices."  Abbasi, who served for less than a year following the resignation of former Prime Minister #NawazSharif in 2017, was arrested while on his way to a news conference in the eastern city of Lahore.  "They said they were from the NAB and took away Shahid Khaqan Abbasi with them," Ahsan Iqbal, a senior PML-N parliamentarian told a television station.  Last year, the NAB ordered an inquiry into both Abbasi and Sharif over a liquefied natural gas terminal project. Sharif is serving a seven-year sentence after being convicted in a separate corruption case.  https://www.instagram.com/p/B0D34sAAGk7/?igshid=7d4k090rsdcu

[usabreakingnews-blog]

Ruth Pfau: State funeral for Pakistan's 'Mother Teresa' A state funeral has been held in Pakistan for a German doctor and nun who devoted her life to battling leprosy. Ruth Pfau, who lived in Pakistan for more than 50 years, set up 150 leprosy clinics across the country. Her efforts meant that in 1996 the disease was declared to have been brought under control. A member of staff at Dr Pfau's national leprosy centre, Yasmeen Morris, said her death was "a big loss to humanity". She said: "It is very hard to find a person like her in today's era. "Today, everyone thinks about themselves, but she never thought about herself. She led a very simple life and she loved humanity." She was laid to rest after a funeral service at St Patrick's Cathedral in Karachi, where the coffin was draped in the Pakistani flag and covered with rose petals. After her death, Prime Minister Shahid Khaqan Abbasi said Dr Pfau "may have been born in Germany, but her heart was always in Pakistan". "Dr Ruth came to Pakistan here at the dawn of a young nation, looking to make lives better for those afflicted by disease, and in doing so, found herself a home," he said. Dr Pfau witnessed leprosy in Pakistan for the first time while working as a medical missionary in the 1960s. She set up 150 clinics across the country which treated tens of thousands of patients. She received numerous honours for her work, including the Hilal-e-Imtiaz, Hilal-e-Pakistan and the German Staufer Medal.