Recent trade data for Pakistan reveals a monthly trade deficit increase of $0.6 billion, primarily driven by an $0.8 billion surge in imports.
However, on an annual basis, the trade deficit is gradually shrinking at a modest rate of 4 per cent.
This is not necessarily negative news, as import restrictions have been lifted as part of the İnternational Monetary Fund (IMF) programme while the economy is experiencing an uptick in demand.
The encouraging aspect lies in the positive signs displayed by the export sector. The Pakistani rupee (PKR) has depreciated by approximately 35 per cent year-on-year, falling from PKR 220/USD to PKR 280/USD.
Last year, exporters faced challenges in importing raw materials, machinery, and intermediate goods.
Consequently, the 14 per cent year-on-year growth in exports, rising from $2.4 billion to $2.7 billion, is a heartening development, provided this trajectory continues.
Recent measures by the State Bank of Pakistan (SBP) aimed at promoting exports, including competitive gas rates for exporters, reflect a positive intent.
While industries reliant on gas may require more regionally competitive energy rates, the direction is favorable.
Moreover, the alignment of open market and interbank exchange rates may encourage a shift from official channels.
To address Pakistan’s economic challenges, two key corrections are imperative, among many others: increasing tax revenues and enhancing value-added exports.
Depreciation of the currency alone cannot serve as the sole remedy for stimulating growth.
To achieve a comprehensive economic framework, it is essential to boost the exports-to-GDP ratio beyond the current 8 per cent.
This should encourage capitalists to prioritise exports and foreign direct investment (FDI) over property, fixed income, currency, and trading, ensuring sustained double-digit growth over the next five years.
On Wednesday, Shell Pakistan (SHEL.PSX) announced that its parent company’s subsidiary, Shell Petroleum Company, has entered into an agreement with Wafi Energy for the sale of its domestic operations.
The international branch of Shell (SHEL.L), known as Shell Petroleum Company, anticipates the completion of this sale by the fourth quarter of 2024, pending regulatory approvals.
Back in June, Shell Petroleum Company declared its intention to divest its 77 per cent ownership stake in Pakistan.
This decision follows a series of global operational updates by Shell and significant losses incurred by Shell Pakistan (SPL) in 2022.
These losses were primarily attributed to fluctuating exchange rates, the devaluation of the Pakistani rupee, delayed receivables, and the backdrop of a financial crisis and economic slowdown in the country.
According to Reuters, Wafi Energy, an entirely owned affiliate of Asyad Holding Group, a fuel retailer based in Saudi Arabia, is the acquiring party.
Shell Pakistan’s operations encompass more than 600 mobility sites, 10 fuel terminals, a lubricant oil blending plant, and a 26 per cent ownership interest in Pak-Arab Pipeline Company Limited.
In October, Pakistan witnessed a year-on-year headline inflation rate of 26.9 per cent, as reported by the Pakistan Bureau of Statistics (PBS) on Wednesday.
This figure represents a notable decrease from the previous month’s reading of 31.4 per cent in September. Additionally, the month-on-month inflation rate for October showed a 1.1 per cent increase.
When considering the average inflation from July to October, it amounted to 28.48 per cent, a contrast to the 25.48 per cent recorded during the same period the previous year.
In its most recent ‘Monthly Economic Update and Outlook’ report, the Ministry of Finance projected that consumer price index (CPI)-based inflation in Pakistan for October would fall within the range of 27 per cent to 29 per cent.
The ministry anticipated that inflation would exhibit a more contained trend compared to the elevated levels observed during the first quarter of fiscal year 2024.
The Pakistan Bureau of Statistics further distinguished between urban and rural inflation rates. In urban areas, the year-on-year CPI inflation increased to 25.5 per cent in October 2023, marking a decline from the 29.7 per cent observed in the previous month and the 24.6 per cent recorded in October 2022.
On a month-on-month basis, urban inflation experienced a 1.1 per cent increase in October 2023, compared to a 1.7 per cent increase in the previous month and a 4.5 per cent increase in October 2022.
Similarly, in rural areas, the year-on-year CPI inflation rose to 28.9 per cent in October 2023, which represented a decrease from the 33.9 per cent recorded in the previous month and the 29.5 per cent in October 2022.
On a month-on-month basis, rural inflation increased by 1.1 per cent in October 2023, in contrast to a 2.5 per cent increase in the previous month and a 5.0 per cent increase in October 2022.
South Africa defeated New Zealand by a massive margin of 190 runs. Pakistani fans were praying for Africa’s win because Pakistan’s cricket team is now dependent on the wins and losses of other teams. South Africa’s win over New Zealand can help Pakistan to reach Semi-Finals
Pakistan fans are thanking South Africa and their captain Timba Bavuma. A storm of memes is seen on social media after Africa’s win over New Zealand.
In the 32nd match of the ICC World Cup, South Africa defeated New Zealand by a huge margin of 190 runs after a one-sided contest, paving the way to reach the semi-finals with their sixth win in the event.
Captain Tamba Bavuma and opening batsman Quinton de Kock started the innings on behalf of South Africa, but Bavuma could not give his team a big partnership in front of the Kiwis bowlers and got out for 24 off Boult.
After the first wicket fell on 38 runs, Quinton de Kock and Vander Dussen put on a brilliant batting partnership of 200 runs, both also scoring centuries. Vander Dussen scored 133 runs while de Kock was dismissed for 114 runs. David Miller played a brilliant innings of 53 runs off 30 balls. Henrik Klaasen scored 15 runs off seven balls and Markram remained unbeaten on six runs. South Africa scored 357 runs for four wickets in the allotted 50 overs.
For New Zealand, Tim Southee took two wickets while Trent Boult and James Neesham got one wicket each.
Chasing South Africa’s target of 358 runs, Kiwi batsmen could not stay on the wicket. South African bowlers bowled brilliantly, picking one wicket after another.
Glenn Phillips 60, Will Young 33, and Daryl Mitchell 24 were the standout batsmen. Chasing the target, the entire New Zealand team was bowled out for 167 runs in 35.3 overs.
On behalf of South Africa, Keshav Maharaj took four wickets while Marco Jansen took three, Coetzee two, and Rabada took one wicket.
South Africa’s win over New Zealand has helped the struggling Pakistan team to get a shot at reaching the semi-finals, but it is still a difficult journey for Babar XI.
It was highly anticipated that King Charles will issue a strong apology for the harrowing atrocities of colonialism in the region during his visit to Kenya. Local rights groups were pressing for reparations but instead came a strongly-worded regret. “The wrongdoings of the past are a cause of the greatest sorrow and the deepest regret,” Charles said during a state banquet.
The British King acknowledged the painful struggle of Kenyans as he said, “There were abhorrent and unjustifiable acts of violence committed against Kenyans as they waged… a painful struggle for independence and sovereignty and for that, there can be no excuse.”
The crimes committed by the British colonial forces date back to the time when Kenyans were forced out of their tea lands as the British took over. Their lands are still producing more than 50 percent of tea for the British. Not just that, in the Mau Mau uprising during 1952-1960 a total of 90,000 people were brutally killed and 1,60,000 were detained.
Exactly a decade ago, UK Government announced payments of almost 20 million pounds to more than 5,000 people in what is known as a “a process of reconciliation”. This visit was paramount as Kenya is celebrating its 60th independence anniversary. “It matters greatly to me that I should deepen my own understanding of these wrongs, and that I meet some of those whose lives and communities were so grievously affected,” the King remarked.
While some are greatly disappointed at the lack of a formal apology speculated to be delivered ahead of the visit, President William Ruto has appreciated the courage of the British monarch for shedding light on “uncomfortable truths that reside in the darker regions of our shared experience”.
British royalty speaks publicly on the advice of the cabinet and Rishi Sunak has already rejected the call for an apology.
The government of Pakistan launched a crackdown against illegal foreigners on October 3 while a deadline of November 1 was announced for the immigrants to voluntarily leave the country or face deportation. The program has been given the name of IFRP-The Illegal Foreigners Repatriation Plan.
The interim federal Minister for Interior, Sarfraz Bugti, categorically announced that that there will be, “No compromise” after the deadline.
Stats reveal that 90,000 Afghans have left the country and a number of families are driving back home via Torkham and Chaman borders to avoid the hassle of the deadline.
Breakdown of the Afghan Population in Pakistan
The government has recognized that a total of three million Afghans are residing all over the country out of which 1.7 million are unregistered and undocumented. The rest are the ones who have Proof of Registration with UNHCR or hold Afghan Citizen Card. As per UNHCR, the population of Afghan refugees has grown to 3.7 million while only 1.3 million are officially registered. There was a particular rise in the influx of the population after the exodus of American and NATO forces from Afghanistan. Breaking down the figures, it’s observed that as of June 2023, Khyber-Pakhtunkhwa hosts 52.6 percent (735,800) of Pakistan’s undocumented Afghan population, Balochistan accounts for 24.1 percent (321,677), Punjab has 14.3 percent (191,053), Sindh houses 5.5 percent (73,789), Islamabad accommodates 3.1 percent (41,520), and Azad Jammu and Kashmir hosts 0.3 percent (4,352).
Government’s Repatriation plan
After November 1, raids will be conducted to bring all to “holding centres” and carry out the deportation plan. The government’s deportation plan as laid out by the caretaker Interior Minister is divided into three phases. The plan was laid out in detail in an interview with journalist Shehzad Iqbal on Geo TV. He clearly mentioned that this plan is for “all the Afghans” present in Pakistan and goes on to explain the varying types of them.
In phase one, refugees without any evidence of authorisation or travel documents will be brought to the deportation centres and will be sent to the borders to go back to Afghanistan.
The second phase includes the immigrants who have infiltrated the system of citizenship via illegal means. In the words of the interim minister, they have “breached” the system of NADRA.
The last phase includes the repatriation of the ones who hold documents or are registered with UNHCR. The Government will track them down eventually as “geo-mapping” is completed, claimed the Minister. Meanwhile, they can fully avail the opportunity of open borders to leave peacefully. The holding centers will serve as a temporary home for those to be deported by the Government in a matter of days. Centers are reportedly established in all the provinces and state machinery has been activated to get the task done in time.
Government’s Crackdown
Even though the Government is pledging to take action after November 1, there are multiple reports of raids being made in different cities before the deadline. For instance, one raid in Islamabad Marriot made it to the headlines as the Government arrested UK, asylum seekers. They have been waiting for two years in Pakistan withheld by the UK government in hopes of immigrating to UK, since the Taliban’s takeover. British High Commission has sped up the process after the raid.
Stance of the Pakistan’s government
The motives of the Pakistani government are clear. “In the 24 blasts that took place in the year 2023, 14 were carried out by Afgan nationals,” claimed the Interior Minister. He also claims Afghan nationals are involved in the rising crime ratio of the country. The government strongly denies allegations that the move is reactionary.
Status of Afghans in Pakistan’s society and economy
Afghan nationals residing in the country have a significant contribution to the economy. Most of them started out with small jobs involving physical labour but are now well-established. One such account is narrated by the spokesman of Anjuman-e-Tajiran Balochistan Haji Allah Dad Tareen who sees Pakistan as his home country as younger generations have been born and raised here and they made a living from scratch. “We did not have much economic stability in Quetta before the Afghan Civil War when the people came here, they had lands, agriculture, livestock back at home which were all sold and they invested their money in Pakistan to make a living. This is how the past forty years passed and their young generation belongs to Pakistan, completely. They were born here, they’ve grown up and got educated and completely assimilated in the society just like other locals have,” he said. It is one of many examples. According to Humayun Khan, an economic expert, the PTI Government under Imran Khan offered citizenship to these Afghan Nationals because they realized that if these Afghans went back, this would cause a “revenue drain” on Pakistan’s economy.
Reception of the Repatriation Program
The decision has invited mixed reactions from civil society, activists, journalists, politicians, and netizens from different walks of life.
Afghan government’s spokesman Zabiullah Mujahid called the decision “unacceptable”.
He also denounced the involvement of Afghans in the terrorist attacks in Pakistan. This indicates an impending rift between the two states.
In an interview for the Human Rights Commission of Pakistan, Hina Jillani, with journalist Rabia Mehmood, called the decision “Irrational, unreasonable, unauthorized and unlawful.”
Hina Jilani, chair @HRCP87 emphasised in @NewWaveGlobal_ discussion that Pak interim govt has no mandate to set policy on expulsion of Afghan refugees/asylumseekers a decision which is irrational, unreasonable, unauthorised & unlawful by Pk state. pic.twitter.com/HdlNTpD0Q8
Women’s Democratic Front exposed that the government is deporting the ones holding registration cards and is not allowing them to take their cattle and cash along with them.
The news that even the registered card holding refugees are being deported and are not being allowed to take their belongings especially cattle & cash is unjust and cruel. This further dispossesses an already marginalised people.
— Women Democratic Front ناری جمھوری محاذ (@wdf_pk) October 30, 2023
Moniza Kakar, a human rights lawyer vocal about the pleas of Afghan refugees, along with Aurat March Karachi, organized a peaceful protest to call out the government on the forceful deportation of the Afghan Refugees.
Participated in a protest organized by #AuratMarch against Pakistan’s unjust mass deportation of Afghan refugees. It was heartening to see a diverse group of civil society members from Karachi come together to raise their voices against this unjust policy. #RefugeeRightspic.twitter.com/4FsY8AAJhi
Shafiq Ahmed, an advocate on Twitter, highlighted the issue of forceful expulsion of a huge population to a land they have fled from.
A refugee shall not be deported to a State where his life or liberty would be threatend for reasons of race , colour, religion, political belief or membership of a particular social group.#RefugeesRights#AfghanRefugees#StopDeportingAfghanRefugees
In Geo TV’s show Report Card, journalist Mazhar Abbas questioned the capacity of NADRA to have complete information about all the illegal aliens countering the claims of Caretaker Interior Minister Bugti to have done complete geo-mapping.
Renowned Journalist Azaz Syed is critical of the decision and called it “emotional” in its spirit because many such attempts have been done before by UNHCR but it has turned out that they take the money and come back making use of the porous border.
پاکستان میں افغان مہاجرین کی وطن وآپسی پر بے جا جذباتی پن کا مظاہرہ کیا جارہا ہے۔ کاش ہم ہوش کے ناخن لیں۔ کینیڈا میں سلمی ا زاہد نامی پاکستانی نے 15 سال میں وہاں محنت کرکے اپنا مقام بنایا اور پارلیمینٹ کی رکن بنیں ہم اپنے ہم وطنوں کے لیے بیرون ممالک میں حقوق مانگتے ہیں مگر… pic.twitter.com/HHRRYDirr9
Irshad Bhatti, congratulated the Government and military leadership on this historic decision.
The government, however, has kept the decision intact and maintained that they are ready for the fallout if any because such hard decisions come with all the positives and negatives.
Hyderabad chapter of Aurat March refused to protest against the repatriation plan while the march was criticised by civil rights activist including Anis Haroon, retired Justice Majida Razvi and many others stating, “How long Sindh would bear the burden of illegal immigrants when it owns 37 percent of the rural population [that] lives below the poverty line?”
Bugti wants the move to be perceived as Pakistan’s change of image from a soft state to a “hardened” one. He asserted that Pakistani government is determined to send these foreigners to their homelands in a step-wise manner.
On Tuesday, Israeli air strikes targeted the Jabalia refugee camp in northern Gaza — the largest refugee camp in Gaza sheltering children, women, and men.
Several Israeli airstrikes targeted apartment buildings in Gaza’s largest refugee camp, #Jabalia.
At least 50 people were killed, including 19 family members of an Al Jazeera employee. Over 150 were injured with numbers expected to rise. pic.twitter.com/NuejstLtrp
An IDF spokesman confirmed to Wolf Blitzer on CNN that an Israeli strike hit the Jabalia refugee camp, killing hundreds of civilians.
“There was a very senior Hamas commander in that area,” Israeli army spokesperson Richard Hecht told CNN. “We’re looking into it and we’ll be coming out with more data as we learn what happened there.”
An IDF spokesman confirms to Wolf Blitzer on CNN that it was an Israeli strike that hit the Jabalia refugee camp, killing hundreds of civilians. pic.twitter.com/NTIl8dhr41
As per reports, at least 50 have been killed so far while 400 have been injured.
Wounded Gazans to cross Rafah border
Rafah border will reportedly open today to allow wounded Palestinians into Egypt for treatment in hospitals.
On Tuesday, AFP news reported that a large number of ambulances had gathered at Rafah and that according to Egyptian medical officials, “Medical teams will be present at the crossing to examine the cases … and determine the hospitals they will be sent to.”
Additionally, a field hospital will be built to treat wounded Palestinians in Sheikh Zuweid — about 15 kilometres from Rafah.
The Rafah crossing is likely to open today for a first group of foreign nationals.
UK teams are ready to assist British nationals as soon as they are able to leave.
It’s vital that lifesaving humanitarian aid can enter Gaza as quickly as possible.
Palestinian telecoms company has said that, “All communications and Internet services” with Gaza has been cut off. Paltel said there is a “complete interruption” of the services with the Gaza Strip.
It said the interruption was caused by “International routes that were previously reconnected being cut off again”.
Houthi attack on Israel
Yemen’s Houthi militants have claimed to have launched a “large number” of ballistic missiles and drones targeting Israel, and warning of more attacks.
Previously, on Tuesday morning, Israel military claimed to have destroyed an unidentified “aerial target” over the Red Sea.
“There was no threat or risk to civilians,” they said.
Chief Justice of Pakistan, Justice Qazi Faez Isa gave an unexpected but strongly worded statement during the hearing of the Faizabad sit-in case, stating that he doesn’t recognize the late military dictator General Zia-ul-Haq as president, as per Neo News.
During the hearing of the Faizabad sit-in case, Justice Faiz Isa, addressing Ijaz-ul-Haq’s lawyer, said that he does not consider Zia-ul-Haq the President of Pakistan.
When the Attorney General revealed that Ijaz-ul-Haq’s lawyer had been asked to provide a written reply with an affidavit to withdraw the statement, the lawyer of countered the Attorney General’s statement, denying that he had been asked to retract the statement.
Ijaz-ul-Haq’s lawyer informed the court that his client had merely stated that his name should be removed from the verdict, to which Chief Justice Justice Faiz Isa remarked that Ijaz-ul-Haq’s name was only mentioned in the report by intelligence agencies, and it was not included in the verdict.
During the same conversation, when Chief Justice Justice Faiz Isa mentioned that Ijaz-ul-Haq is the son of former army chief Zia-ul-Haq, his lawyer replied that his father was also the President of Pakistan. In response, the Chief Justice stated, “I do not consider Zia-ul-Haq the President of Pakistan. No one can become the President by the force of arms. Do not call Zia the President again in this court.”
The lawyer of Ijaz-ul-Haq, the son of former military ruler Zia-ul-Haq, asserted that it is documented in the constitution that Zia-ul-Haq was the president. Chief Justice Justice Faiz Isa responded by remarking that Zia-ul-Haq had written in the constitution that he was the president for five years.
Earlier today, the Supreme Court of Pakistan issued summons for the chairman of the Pakistan Electronic Media Regulatory Authority (PEMRA) following allegations of “media coercion” during the 2017 Faizabad sit-in.
The summon was initiated by a three-member bench of the apex court, led by Chief Justice of Pakistan (CJP) Qazi Faez Isa, and including Justice Aminuddin Khan, and Justice Athar Minallah.
The hearing, part of a series of nine review petitions against the Supreme Court’s February 6, 2019 verdict on the Faizabad sit-in case, was marked by significant developments.
Authored by Justice Isa years before he took oath as the chief justice of Pakistan (CJP), the searing judgement had instructed the defence ministry and the tri-services chiefs to penalise personnel under their command who were found to have violated their oath.
The Palestinian flag was hoisted in the stadium during the match between Pakistan and Bangladesh on October 31 in the ongoing ICC ODI World Cup in India.
According to the Indian news website India TV, the police detained four people for waving the flag in the match played in Kolkata yesterday.
“Out of the persons detained from the Eden Gardens Stadium, two belong to Jharkhand and two are residents of Kolkata itself,” Indian police said, adding that two persons have been detained from Gate No. 6 while the other two persons have been detained from Block G1.
Kolkata police said, “A preliminary investigation has revealed that the four persons, who are in their 20s, were protesting against Israel.”
