Documents vital for Chaman border crossing; Plea against the registrar who refused to hear the petition for Afghan refugees
In Brief
ECONOMY
Foreign direct investment in Pakistan shows meagre growth in October
On 20 November, the State Bank of Pakistan (SBP) reported a marginal year-on-year growth of seven per cent in foreign direct investment (FDI) for the July-October period of fiscal year 2024. However, in October alone, FDI declined by over 12 per cent to USD 122.5 million compared to the same month last year, signalling continued challenges in attracting foreign investment. Analysts suggest that political and economic uncertainties over the past 20 months have damaged Pakistan’s image abroad, making it difficult to convince foreign investors. The upcoming general elections on 8 February 2024 are expected to bring clarity and may impact investor sentiment. (“Foreign investment dips 12pc in October,” Dawn, 21 November 2023)
IMF Executive Board to approve first review of Pakistan’s USD three billion loan on 7 December
On 21 November, Dawn reported that the International Monetary Fund (IMF) Executive Board is tentatively scheduled to approve the Staff-Level Agreement (SLA) with Pakistan for the first review of the USD three billion Stand-By Arrangement (SBA) on 7 December. Following the approval, approximately USD 700 million is expected to be disbursed on 8 December. This will bring the total disbursements under the nine-month SBA to nearly USD 1.9 billion. The SLA was reached on 15 November, supporting Pakistan’s commitment to fiscal consolidation, energy sector reforms, market-determined exchange rates, and governance reforms. The IMF emphasised the importance of timely external support for Pakistan’s policy and reform efforts. (Khaleeq Kiani, “IMF board to approve staff-level agreement on Dec 7,” Dawn, 21 November 2023)
Pakistan’s power sector circular debt reaches PKR 2.537 trillion in Q1 2023-24
On 21 November, the Business Recorder reported that during the first quarter of the fiscal year 2023-24 (July-September), Pakistan’s power sector circular debt stock reportedly reached PKR 2.537 trillion, showing a ten per cent or PKR 75.7 billion growth per month. Despite recovery efforts through an anti-theft drive, the circular debt stock increased by PKR 227 billion during this period. The payables to power producers reached PKR 1.671 trillion during Q1, showing an addition of PKR 237 billion. The main reasons for the growth in circular debt are issues with K-Electric, AJ&K, subsidies, delays in QTA adjustments, higher interest payments, and dollar rates. (Mushtaq Ghumman, “Power sector circular debt swells despite recovery rate,” Business Recorder, 21 November 2023)
ON AFGHANISTAN
Plea against the registrar who refused to hear the petition for Afghan refugees
On 20 November, Supreme Court Judge Justice Yahya Afridi heard an appeal against a registrar who refused a petition hearing against deportation of Afghan refugees. The registrar stated that the petition was returned because it failed to point out questions of public importance. The petition demanded that the federal government halt the forceful deportation of Afghan refugees and restrain from harassing individuals with legal documents and who have a birthright to reside in Pakistan. Furthermore, the petition stated that it should allow UNHCR and other institutions to register and process asylum-seeking applications. (Nasir Iqbal, “SC to hear plea against registrar’s decision over Afghan deportations,” Dawn, 21 November 2023)
Documents vital for Chaman border crossing
On 20 November, interim Information Minister Jan Achakzai expressed his views on the partial suspension of Chaman border transit with Afghanistan due to protests. Achakzai complained that Pakistan has only received insecurity for their hospitality. The Senate also discussed the closure of the border and the protest where several leaders demanded that the people of Chaman be allowed to travel to Afghanistan. The other ministers stated that they could not allow such transit of 40,000 people daily without proper documents. The ministers stated that this stands vital as they plan to regularize the border with proper procedures. (Saleem Shahid, Amir Wasim, “No one can enter via Chaman without documents, says minister,” Dawn, 21 November 2023)
ENERGY/ENVIRONMENT
Sindh: Natural gas reserve discovery
On 20 November, The Express Tribune reported that Pakistan Petroleum Limited (PPL) found natural gas reserves in the Sajawal district of Sindh. This was first reported by Express News who reported on the drilling operation first conducted by PPL for 2,544 meters. The initial testing came out with promising results with the possible daily production of 236 barrels. This discovery will be a vital relief for the energy crisis facing Pakistan. The timing of the discovery also stands crucial with the country facing a hefty deficit and dependence on oil and gas imports. This will be a domestic solution for the country’s energy needs. (“Major natural gas reserves discovered in Sindh's Sajawal,” The Express Tribune, 20 November 2023)
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“International Children's Day in the name of the innocent and oppressed children of Gaza. Today the world is celebrating International Children's Day, while parents in Palestine are forced to bury their children in mass graves. More than 13,000 people, including 5,500 children, have been killed in Gaza since October 7 as a result of Israeli attacks. The laughter of innocent children has turned into screams due to Israeli terrorism. The world must stand up to end the bloodshed of children in Palestine.”
- Senator Sherry Rehman
“Choreographing interviews, manufacturing political loyalties, staging jalsas of ladlas. Handlers have turned the country into a bizarre drama whose end will certainly be tragic. This is an embarrassingly mediocre way to manage a country of 240 million people.”
-Ammar Ali Jan
“Whispers in Islamabad..Project Nawaz has failed spectacularly. The 80s man failed to have any effect on the seething public mood. Propping him up led to even more resentment. Its purely People vs Power now.”
- Hammad Azhar
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Dr Zafar Khan, ‘America’s ICS for Pakistan’
The Express Tribune, 21 November 2023
“It is recommended that the US help Pakistan develop the rudimentary infrastructure with the possible transfer of technologies in mitigating issues on non-traditional security imperatives based on the logic of “helping Pakistan helping itself.” The non-traditional security analysts would always argue that development of these imperatives could ease the pressure on the core traditional security issues Pakistan confronts.”
Arif Hasan, ‘Palestine conflict’
Dawn, 21 November 2023
“The relationship between the pro-Israeli governments and their people has snapped. It is more than likely that there is a new world of conflict, and at the same time of hope, emerging on the globe…THANKS to social media, a lot of information has been provided to the world regarding the background, causes, and the terrible casualties in the Israeli war on Hamas, which has brought about global condemnation.”
Abbas Moosvi, ‘Rethinking Pakistan’s cities’
The Express Tribune, 20 November 2023
“Despite one of the most rapid rates of urbanisation in South Asia, Pakistan’s cities remain inhospitable to ordinary working people. Runaway sprawl, an absence of high quality transit services, increasingly unaffordable housing options and scattered governance arrangements have led to places like Karachi, Lahore, Peshawar, Quetta and Islamabad failing to capitalise upon the vast sociocultural and economic potential present within them. In order to redress this, ruling elites must realise the futility of rigid ‘planning’ initiatives and allow ordinary citizens a participatory role in the evolution of their living and working spaces. Administrative measures are only useful if they are geared to promoting higher levels of freedom.”
Shahzad Sharjeel, ‘Godspeed Afghans’
Dawn, 21 November 2023
“THERE is no getting away from them. Love them, do not love them, cannot ignore them? From the attacks across the Khyber Pass by the marauders of yore, to Bacha Khan’s burial in Jalalabad, to Irfan Pathan’s dance celebrating the Afghan cricket team’s victory, they are part and parcel of our geo-emotional ecology. A part we seem eager to parcel out to a broader set of actors responsible for the situation. Unlike Iran, Pakistan did not restrict Afghan refugees to special zones for political expedience. The ummah vs the nation-state narrative made the naturalisation policy, passport, visa, etc, look like mere formalities.”
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“The deportation of refugees is a decision we return to again and again.”
- An opinion in Dawn, “Violence on borderlands”
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