Tag: Pakistan Prime Minister Shehbaz Sharif

Shehbaz To Visit China Next Week To Meet Xi Jinping

By LokMarg

Pakistan Prime Minister Shehbaz Sharif will visit China next week along with a high-level delegation, including Foreign Minister Bilawal Bhutto Zardari to meet Chinese President Xi Jinping, and hold delegation-level talks with Premier Li Keqiang.

This would be Shehbaz’s first visit to China since assuming office in April this year and follows his meeting with Xi in Uzbekistan in September.
“Prime Minister Muhammad Shehbaz Sharif will visit China on 1-2 November at the head of a high-level delegation, including Foreign Minister Bilawal Bhutto Zardari. The Prime Minister is undertaking the visit at the invitation of H.E. Li Keqiang, Premier of the State Council of the People’s Republic of China,” the Pakistan Foreign Ministry said in a statement.

It added that the Pakistan PM will be among the first leaders to visit China following the 20th National Congress of the Communist Party of China, where Xi secured his third term as the leader of the party.

“On behalf of the entire Pakistani nation, I congratulate President Xi Jinping on his reelection as CPC General Secretary for the 3rd term. It is a glowing tribute to his sagacious stewardship and unwavering devotion to serving the people of China,” the Pak PM said in a congratulatory tweet on Sunday.

The Pakistan Foreign Ministry said Sharif’s visit represents the continuity of frequent leadership-level exchanges between the two countries.

“The Prime Minister will meet with President Xi Jinping and hold delegation-level talks with Premier Li Keqiang. The two sides will review the All-Weather Strategic Cooperation Partnership and exchange views on regional and global developments,” the Pak foreign office said.

“The visit is also expected to advance the wide-ranging bilateral cooperation agenda with the conclusion of a number of MoUs/Agreements in diverse areas, and consolidate the momentum of CPEC cooperation in the wake of the 11th meeting of the CPEC Joint Cooperation Committee (JCC) on 27th October 2022,” it added.

Earlier this week, media reports said Pakistan and China are set to start three new corridors in addition to the multi-billion-dollar China-Pakistan Economic Corridor (CPEC).

The formal launch of the projects, which include health and digital corridors, could take place during Shehbaz Sharif’s China visit, according to The News International newspaper.

Citing unidentified sources, the Pakistan daily said the new corridors would become sources of strengthening Pakistan-China ties and would provide a new unshakable bond of the proximity of the two nations. (ANI)

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Pakistan's total debt

Pakistan A Sinking Ship, On Brink Of Default: Economist Steve Hanke

By LokMarg

Warning that Pakistan is on the brink of a “debt default”, renowned economist Steve Hanke said that Pakistan Prime Minister Shehbaz Sharif is failing to save the “sinking ship.”

“Its sovereign bonds have lost more than 60 pc of their value this year. I’m not surprised. PM Sharif’s government is failing to save the sinking ship,” he wrote on his official Twitter handle on Friday.

Moody’s Investors Service has downgraded the long-term deposit ratings to Caa1 from B3 of five Pakistani banks. The rating agency has also downgraded the five banks’ long-term foreign currency Counterparty Risk Ratings (CRRs) to Caa1 from B3.

The banks, which have been downgraded include Allied Bank Limited (ABL), Habib Bank Ltd. (HBL), MCB Bank Limited (MCB), National Bank of Pakistan (NBP), and United Bank Ltd. (UBL).

“As part of the same rating action, Moody’s lowered the Baseline Credit Assessments (BCAs) of ABL, MCB, and UBL to caa1 from b3, and as a result also downgraded their local-currency long-term CRRs to B3 from B2 and their long-term Counterparty Risk Assessments to B3(cr) from B2(cr). The BCAs of NBP and HBL were affirmed at caa1,” Moody’s said in a statement.

“The outlook on all banks’ deposit ratings remains negative,” it added. The downgrading of Pakistan banks reflects the government’s reduced capacity to support the banks, which has affected the banks whose ratings benefit from government support.

The reduced ratings also show the high credit linkages between the banks’ balance sheets and sovereign credit risk, which constrains the banks’ Baseline Credit Assessments at the level of the Caa1-rated government; and the lowering of Pakistan’s foreign currency ceiling to Caa1, which has affected the foreign currency CRRs of all rated banks.

Pakistan rejected Moody’s decision to downgrade its banks. The Shehbaz Sharif government said it was taken unilaterally and did not depict the true picture due to information gaps and contradictions.

Pakistan Finance Minister Ishaq Dar said he would give a “befitting” reply in a meeting with its officials if the agency did not reverse the downgrade.

“They (Moody’s officials) have to meet me. I told them if you don’t [reverse] this, I will give you a befitting response in our meeting next week,” he was quoted as saying by Dawn. (ANI)

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Pak To Summon Blome, Issues Demarche Over Biden’s Statement

By LokMarg

The Pakistan government is set to summon US Ambassador Donald Blome for an official demarche over American President Joe Biden’s statement regarding the country’s nuclear capability, Foreign Minister Bilawal Bhutto Zardari said.

While addressing the news conference, Bilawal said, “We will call their ambassador and issue a demarche, but I don’t think this was an official function […] it wasn’t an address to the parliament or an interview,” according to Dawn
This statement came after US President Biden, at a Democratic congressional campaign committee reception, said that Pakistan may be “one of the most dangerous nations in the world” as the country has “nuclear weapons without any cohesion”, according to the statement released by the White House.

“And what I think is maybe one of the most dangerous nations in the world: Pakistan. Nuclear weapons without any cohesion,” the White House quoted Biden as saying.

The remarks on Pakistan were made while Biden was talking about US foreign policy with regard to China and Vladimir Putin’s Russia. Biden concluded by saying he considered Pakistan to be the most dangerous country in the world.

“This is a guy (Xi Jinping) who understands what he wants but has an enormous, enormous array of problems. How do we handle that? How do we handle that relative to what’s going on in Russia? And what I think is maybe one of the most dangerous nations in the world: Pakistan. Nuclear weapons without any cohesion,” said Biden, as quoted in a White House press release of his remarks at the Democratic party event.

Addressing the conference at the Bilawal House in Karachi today, the foreign minister said that Pakistan’s nuclear assets “meet each and every international standard in accordance with the IAEA (International Atomic Energy Agency) as far as security and safety is concerned”.

“I am surprised by the remarks of President Biden […] I believe this is exactly the sort of misunderstanding that is created when there is a lack of engagement.”

Bilawal said that Pakistan had embarked on a “journey of engagement” and just marked the 75th anniversary of bilateral engagements with the US, according to Dawn.

“If this was such a concern, I imagine it would’ve been raised in that meeting with me, I believe that we have just started our journey of engagement and we will have many more opportunities to engage with the US and address any concerns and misconceptions they might have to this specific question,” Bilawal said as quoted by Dawn.

Although, Bilawal said that he doesn’t believe it negatively impacts the relations between Pakistan and the US. but still, Biden’s remarks could be seen as a setback to the Shehbaz Sharif government’s bid to improve ties with the US. (ANI)

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Flood Relief Efforts In Pakistan

Corruption Plagues Flood Relief Efforts In Pakistan

By LokMarg

A UN official has expressed concerns regarding the use of flood assistance in Pakistan, amid the country’s continuing struggle to procure sufficient aid to recover from losses from the unprecedented disaster.

Although the UN is working extensively to procure aid for Pakistan, reports emerged last month that less than a quarter of the USD 160 million has actually been dedicated to on-the-ground relief efforts.
UN Humanitarian Coordinator Julien Harneis earlier said of the total amount pledged, only USD 38.35 million has been converted into assistance.

“We are still in the early days; not enough has been delivered and we need to speed up the response. UN and NGOs have some reserve monies in hand, those are being redirected to respond to emergencies, but there is a limit to how much we can do. So use against scale, we need money quickly that can be converted into assistance,” Haneis told newsmen last month, as saying quoted by Dawn.

Responding to possible reports of discrepancy in relief aid in Pakistan, the US State Department on Tuesday said this is something it takes very seriously, not only in Pakistan but anywhere around the world where American taxpayer dollars are implicated.

“This is something we take very seriously, not only in Pakistan but anywhere around the world where American taxpayer dollars are implicated and when there is an urgent humanitarian interest at stake, which is clearly the case, in terms of the response to the flooding in Pakistan,” US State Department Spokesperson Ned Price said in response to a question over reports of corruption in Pakistan in US relief aid items.

Price noted that US aid partners work with local organizations that have extensive knowledge about the affected areas and their populations.

“We also are required to provide regular program updates on the progress of activities and any security concerns, and we require them – our partners – to immediately report any potential diversions, seizures, or losses immediately. So this is something we take very seriously,” he said.

Speaking over steps taken to monitor and to ensure that adequate tracking mechanisms in this context, Price said, “First, USAID staff – they make regular trips to monitor our programs in the field. We have what’s called a DART – a Disaster Assistance Response Team – and their members travel to more than 10 flood-affected districts in Balochistan, in Sindh province.”

The US provided nearly USD 56.5 million in flood relief and humanitarian assistance to Pakistan this year as well as an additional USD 10 million in food security assistance, according to State Department.

Pakistan has seen massive floods which have wreaked havoc in the country leading to a great loss of lives and infrastructure. As of September 30, government estimates have recorded nearly 1,700 deaths and more than 12,800 injuries since mid-June. (ANI)

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Dangerous Nations: Biden’s Candid Comment On Pakistan

By LokMarg

In perhaps the most candid statement made against it, US President Joe Biden described Pakistan as “one of the most dangerous nations” in the world which holds “nuclear weapons without any cohesion.”

The US President made these remarks at a Democratic Congressional Campaign Committee Reception in Los Angeles (California), during which he berated both China and Russia.
The remarks on Pakistan were made while Biden was talking about US foreign policy with regard to China and Vladimir Putin’s Russia. Biden concluded by saying he considered Pakistan to be the most dangerous country in the world.

“This is a guy (Xi Jinping) who understands what he wants but has an enormous, enormous array of problems. How do we handle that? How do we handle that relative to what’s going on in Russia? And what I think is maybe one of the most dangerous nations in the world: Pakistan. Nuclear weapons without any cohesion,” said Biden, as quoted in a White House press release of his remarks at the Democratic party event.

Biden’s remarks could be seen as a setback to the Shehbaz Sharif government’s bid to improve ties with the US.

At the event, Biden said there were enormous opportunities for the US to change the dynamic in the second quarter of the 21st century.

“So, folks, there’s a lot going on. A lot going on. But there are also enormous opportunities for the United States to change the dynamic in the second quarter of the 21st century,” the US president said.

These comments come two days after the release of the US National Security Strategy. The 48-page document makes no reference to Pakistan.

On Wednesday, the Biden administration released the Congress-mandated key policy document, underlining the threat posed to the US by both China and Russia.

The National Security Strategy states that China and Russia who earlier this year announced a “no-limits partnership” are increasingly aligned with each other but the challenges they pose are distinct.

“We will prioritize maintaining an enduring competitive edge over the PRC while constraining a still profoundly dangerous Russia,” it adds.

The policy document contends that competition with China is most pronounced in the Indo-Pacific, but it is also increasingly global.

The US Security Strategy highlighted that the next ten years will be a decisive decade of competition with China.

On the Russia-Ukraine conflict, the document says Moscow’s “imperialist foreign policy” culminated “in a full-scale invasion of Ukraine in an attempt to topple its government and bring it under Russian control.” (ANI)

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Shehbaz

Putin Laughs As Shehbaz Struggles With Headphones During Bilateral Meet

By LokMarg

Pakistan Prime Minister Shehbaz Sharif became a laughing stock among social media users after he was seen struggling with headphones during bilateral talks with Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Samarkand, Uzbekistan.

The video shared by the Russian state-owned news agency RIA shows Putin laughing as Shehbaz struggles with the headphones.
The video was also shared by former Pakistan Prime Minister Imran Khan’s party Pakistan Tehreek-e-Insaf’s (PTI).

It also showed that Shehbaz was asking an aide for help, however even after the aide’s assistance, his headphones dropped once again.

A PTI member said that Shehbaz is a “constant embarrassment” for Pakistan.

Another picture shared by Qasim Khan Suri, former Deputy Speaker of the National Assembly and Balochistan’s Provincial President of PTI took a dig at Shehbaz’s delegation comprising Foreign Minister Bilawal Bhutto-Zardari, Finance Minister Miftah Ismail and Defence Minister Khawaja Asif who were “sitting idly like a beggar.”

He made the statement after Shehbaz tweeted, “It was a long but productive day in Samarkand. In my meetings with leaders of our friendly countries, we agreed on enhancing trade & investment. I explained the flood ravages due to climate change. Food & energy shortages present a real challenge to our shared development agenda.”

In response, Suri tweeted, “But in the picture, one party is writing a note and the other is sitting idly like a beggar.”

PM Shehbaz is on a two-day visit to Uzbekistan to attend the SCO summit. Both leaders discuss the Pakistan Stream gas project, reported Geo News.

Putin said on Thursday that pipeline gas supplies to Pakistan are possible, and that part of the necessary infrastructure is already in place, Russian state-owned news agency RIA reported.

President Putin and Pakistani Prime Minister Shehbaz Sharif met today on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Samarkand, Uzbekistan.

The high-level meeting came after the prime minister reached the Uzbekistan capital to attend the annual meeting of the SCO’s Council of Heads of State (CHS) during a two-day visit — from September 15 to 16.

After the meeting with Putin, the prime minister held a bilateral meeting with Tajikistan’s President Emomali Rahmon, reported Geo News.

The two leaders held wide-ranging talks covering all aspects of mutually beneficial bilateral cooperation, including regional and international issues.

The prime minister thanked Tajikistan for its support to the flood affectees in Pakistan and shared details of the devastation caused by the massive floods, induced by climate change, reported Geo News.

Later, the prime minister held a bilateral meeting with the President of Uzbekistan Shavkat Mirziyoyev. The two leaders exchanged views on Pakistan-Uzbekistan relations and regional and international issues.

During the meeting, the leaders discussed trade, economic relations, and regional connectivity through rail, road and seaports.

The PM underscored the significance of enhancing political ties and fast-tracking trade and economic cooperation by fully operationalising the Uzbekistan-Pakistan Transit Trade Agreement (UPTTA) and Preferential Trade Agreement (PTA), reported Geo News.

The two leaders agreed to early convening of the Inter-Governmental Commission to formulate specific proposals and projects to further deepen and broaden Pakistan-Uzbekistan cooperation across the entire spectrum.

After that, the prime minister also met President Sadyr Zhaparov to discuss views on growing bilateral relations.

During the meeting, PM Shehbaz stressed the importance of urgent global action to address the threat of climate change and the need for support from countries like Pakistan that had virtually no contribution to carbon emissions.

PM Shehbaz expressed gratitude to the country for hosting more than 11,000 Pakistani students in medical universities, hoping that the Kyrgyz government will continue to facilitate them and ensure their safety and security during the period of their educational stay in the country. (ANI)

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