Author: Gediz Makhdoom

The ambitious USD$60 billion China-Pakistan Economic Corridor, which stretches almost 3000km from the port of Gwadar in Pakistan’s rugged southwestern province of Balochistan to Kashgar in the western Chinese region of Xinjiang, was launched 10 years ago this July. Labelled a “game changer” by its backers, the 30-year project includes the development of Gwadar, laying gas and oil pipelines from Gwadar to China, the building of small dams and hydroelectric power stations, the upgrade and construction of roads and railroads and the development of numerous other projects, including a metro system in Lahore. Once complete, the Corridor would be the jewel in…

Minister for Inter-Provincial Coordination Ehsanur Rehman Mazari on Saturday confirmed that Prime Minister Shehbaz Sharif had constituted a committee to deliberate on the Pakistan cricket team’s participation in the World Cup in India later this year. “I received the letter about its formation last night,” he told Dawn.com over the phone, adding that Special Assistant to Prime Minister Tariq Fatemi had been appointed as the committee’s coordinator. He further said that committee members would make recommendations regarding the Pakistan team’s visit to India for the World Cup, but the final decision on the matter “will be taken at the Prime Minister’s House”.…

ISLAMABAD: The International Monetary Fund (IMF) Executive Board has issued meetings scheduled till June 29, but Pakistan is not on the agenda as the 9th review under the Extended Fund Facility (EFF) programme remains pending. The current IMF programme of $6.5 billion is scheduled to end on June 30, 2023, with around $2.6 billion remaining undisbursed. According to the IMF Executive Board calendar available on its website, next meetings are scheduled for 20, 21, 22, 26, 27, 28 and then again on June 29, 2023; however, Pakistan is not on the agenda though it could be added in the event…

Crises-hit Pakistan has failed to secure liquified natural gas (LNG) from the spot market in its first attempt in about a year, as no supplier seems to budge to the cash-strapped nation’s offer, Bloomberg reported Tuesday. Traders, on the condition of anonymity, told the publication that Pakistan LNG Limited’s (PLL) bid to purchase six shipments for October to December closed Tuesday with no companies responding to the offer. Many overseas banks were not accepting letters of credit (LCs) from Pakistani financial institutions to procure LNG shipments, making suppliers reluctant to offer cargoes, the publication reported last week. The $350 billion economy…

Pakistan and Germany have agreed to enhance cooperation in the areas of film, art and culture. The understanding came at a meeting between Minister for Information and Broadcasting Marriyum Aurangzeb and German Ambassador Alfred Grannas in Islamabad. The Information Minister apprised the Germany Ambassador of Pakistan’s film and culture policy and the incentives being given under it. Marriyum Aurangzeb said we want to show the beautiful culture and civilization of Pakistan to the whole world through screen tourism. She said the foreign filmmakers should avail special concessions for filmmaking in Pakistan. The Information Minister was confident that the establishment of…

Central Asia’s six stock exchanges have been experiencing something of a boom, according to Kazakh media outlet Kursiv. Trading has been driven by the covid rebound and the increasing importance of the five ‘stans’ as manufacturing and transit economies due to sanctions imposed on Russia’s economy by the West, the publication said. The total capitalisation of the companies traded on Central Asia’s stock exchanges now exceeds $100bn, it pointed out. Kursiv also gave the following information on the bourses: Kazakhstan Stock Exhange (KASE): Established in 1993 as an interbank currency exchange, it has 85 issuers. The share market has a capitalisation of KZT 22.3…

MOSCOW — A slick new video that has gone viral on Russian social media platforms shows a taxi driver, a security guard and a fitness coach at work. “Did you really dream of being this kind of defender?” the footage released by the Russian defense ministry says. The video, set to dramatic music, then depicts armed men in full combat gear walking across a battlefield in thick fog. “You’re a real man! Be one!” says the ad, encouraging Russians to sign a contract with the defense ministry. Moscow has launched an aggressive military recruitment campaign complete with videos and ubiquitous billboards…

WASHINGTON: Pakistan urged the United States on Thursday to restore military financing and sales suspended by the Trump administration as a senior US official acknowledged the importance of this bilateral relationship in a key strategic region. “It is important that the US restores — for Pakistan — Foreign Military Financing and Foreign Military Sales, suspended by the previous administration,” Masood Khan, Pakistan’s envoy in Washington, said at a seminar in Washington. US Principal Deputy Assistant Secretary of State for South and Central Asia, Elizabeth Horst, however, focused on the need to help rebuild the troubled Pakistani economy and urged Islamabad to work…

Counter-strike fear is looming in Pakistan after the Poonch terror attack and it has become the talk of the town. Former Pakistani diplomat Abdul Basit said India may carry out another surgical strike in the aftermath of the terror attack in the Poonch district of Jammu and Kashmir, but ruled out any such possibility ahead of the G20 Summit. Basit said that fear of a retaliatory strike has become the talk of the town in Pakistan. “Now people in Pakistan are talking about another surgical strike or air strike by India. I do not think that now they will do…

Four German Proetten started on the LPGA Tour in Arizona – none made it into the weekend. At the top there is a trio of leaders. At the LPGA Drive On Championship of the LPGA Tour, four German women were on the list of participants: Isi Gabsa, Esther Henseleit, Polly Mack and Aline Krauter. However, the quartet could not keep up with the pace of the opponents, which is why none of them made it into the weekend. A trio at the top and an albatross are the highlights at Superstition Mountain Golf Club so far. Competition too strong for the German women Isi Gabsa barely missed…