Page 10 - Pakistan Link - April 21, 2023
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P10 - PAKISTAN  LINK - APRIL 21, 2023                                                                                                       PAKISTAN

       ISLAMABAD: Pakistan's foreign min-                                                                                     nization to rival Western institutions.
       ister will attend an international con-  Bilawal to Visit India to Attend SCO Meeting                                      "Our participation in the meeting
       ference in India next month, the first                                                                                 reflects Pakistan's commitment to the
       official visit by one of Islamabad's top                                                                               SCO  Charter  and  processes  and  the
       diplomats since 2016.                                                                                                  importance  that  Pakistan  accords  to
          Bilawal Bhutto Zardari will go to                                                                                   the region in its foreign policy priori-
       the  Shanghai  Cooperation  Organiza-                                                                                  ties," Baloch said. - AFP
       tion  (SCO)  Council  of  Foreign  Min-                                                                                    AP  adds:  Pakistan's  top  diplo-
       isters gathering in Goa from May 4-5,                                                                                  mat Bilawal Bhutto Zardari will trav-
       ministry spokeswoman Mumtaz Zahra                                                                                      el to India next month for a meeting
       Baloch told a briefing Thursday.                                                                                       of a regional grouping known as the
          Islamabad  suspended  trade  and                                                                                    Shanghai Cooperation Organization,
       diplomatic  ties  with  India  in  2019                                                                                the  foreign  ministry  spokesperson
       when New Delhi imposed direct rule                                                                                     said Thursday.
       on the part of Muslim-majority Kash-                                                                                       Pakistan  hasn't  sent  a  high-level
       mir  it  controls  and  enforced  a  heavy                                                                             delegation to visit its rival and neigh-
       security lockdown.                                                                                                     bor, India, for many years.
          Both countries withdrew their top                                                                                       Speaking  at  a  media  conference
       diplomats  and  several  consular  staff                                                                               in the capital Islamabad, spokesperson
       were expelled or withdrawn in tit-for-                                                                                 Mumtaz Zahra Baloch said Pakistan's
       tat measures.                                                                                                          foreign  minister  was  invited  for  the
          Although it is not clear if Bhutto                                                                                  May 4 meeting by his Indian counter-
       will  have  any  bilateral  meetings  with                                                                             part Subrahmanyam Jaishankar. India's
       Indian officials on the sidelines of the                                                                               foreign  minister  is  the  current  chair-
       SCO  meeting,  analysts  said  the  visit                                                                              man of the Asian group of powers that
       was significant.                                                                                                       was founded in 2001 by Moscow and
          "Broader   confidence-building                                                                                      Beijing.
       measures are required to engage eco- Bilawal Bhutto Zardari will go to the Shanghai Cooperation Organization (SCO) Council of Foreign Ministers gath-  Pakistan  and  India  have  a  his-
       nomically  with  India,  but  this  is  an  ering in Goa from May 4-5, ministry spokeswoman Mumtaz Zahra Baloch told a briefing Thursday  tory  of  bitter  relations,  mainly  over
       important milestone in the history of                                                                                  Kashmir,  a  disputed  Himalayan  re-
       Pakistan-India  relations,"  said  Qamar  partition of the Indian subcontinent in   The most recent visit to India by  Delhi.  gion which is split between them but
       Cheema, an Islamabad-based analyst.  1947.                  a high-ranking Pakistan diplomat was   India currently holds the rotating  claimed  by  both  in  its  entirety.  They
          Relations  between  the  nuclear-  Their  conflict  over  Kashmir  has  in 2016, when Sartaj Aziz -- then the  presidency of the SCO, which was es- have  fought  two  wars  over  Kashmir
       armed nations have been chilly at best  resulted in three full-fledged wars and  senior  adviser  to  the  prime  minister  tablished in 2001 and is considered a  since gaining independence from Brit-
       ever since they were created out of the  numerous minor skirmishes.  on  foreign  affairs  --  travelled  to  New  political, economic and security orga- ish colonial rule in 1947.

                           Pakistan Makes Its First                                               Inflation Crimps Eid Festivities

                Purchase of Discounted Russian Oil                                                          for Karachi Orphans



                                                                  to Pakistan.
                                                                      Islamabad imported 154,000 bpd
                                                                  of oil in 2022, around steady with the
                                                                  previous year, data from analytics firm
                                                                  Kpler showed.
                                                                      The  crude  was  predominantly
                                                                  supplied  by  the  world's  top  exporter
                                                                  Saudi  Arabia  followed  by  the  United
                                                                  Arab Emirates. The 100,000 bpd from
                                                                  Russia in theory greatly reduces Paki-
                                                                  stan's need for Middle Eastern fuel.
                                                                      Asked  about  the  impact  of  the
                                                                  Russian imports on local pricing, Ma-
                                                                  lik  said  that  would  be  apparent  once
                                                                  the  crude  had  been  refined  and  was  Edhi, who was helping to embroider the clothes, said she had to dip into sav-
                                                                  ready to sell.                ings to cover the cost of the Eid gifts, as this year no donations of readymade
                                                                      The  US  dollar  historically  has  garments or unstitched cloth had come in, unlike previous years
       An overcrowded gas station in Pakistan                     been the currency of oil trade, but the
                                                                  Ukraine war has eroded its dominance  KARACHI:  Women  pedal  sewing  ymade  garments  or  unstitched  cloth
       ISLAMABAD  -  Pakistan  has  placed  ments.                as Russia avoids receiving a currency it  machines, deftly lining up seams and  had come in, unlike previous years.
       its  first  order  for  discounted  Russian   Under the deal, Pakistan will buy  has been largely blocked from using by  pleats  as  they  assemble  brightly  col-  "We purchased some readymade
       crude oil under a deal struck between  only crude, not refined fuels, Minister  Western sanctions.  ored dresses for young girls at an or- items  and  unstitched  cloth,  jewelry,
       Islamabad and Moscow, the country's  Musadik  Malik  told  Reuters  late  on   Pakistan's economic crisis mean- phanage  in  Pakistan,  in  preparation  bangles, shoes and other things from
       petroleum  minister  said,  with  one  Wednesday.  Imports  are  expected  to  while means it is desperately short of  for Eid al-Fitr, which ends the Muslim  our own funds."
       cargo to dock at the port of Karachi in  reach  100,000  barrels  per  day  (bpd)  hard currency.  fasting month of Ramadan.  The  crisis  drove  inflation  to  a
       May.                          if  the  first  transaction  goes  through   Malik  declined  to  say  whether   Yet  as  an  economic  crisis  forces  record high of 35% in March, follow-
          Pakistan's purchase gives Russia a  smoothly, he said.  Chinese  yuan  and  the  UAE  dirham  people to tighten their belts, fewer find  ing  a  depreciating  rupee  currency,
       new outlet, adding to Moscow's grow-  "Our  orders  are  in,  we  have  would  be  used  for  transactions.  He  themselves able to afford charity dona- a  rollback  in  subsidies  and  higher
       ing sales to India and China, as it redi- placed that already," he said, confirm- also  did  not  comment  on  the  rate  of  tions for the approaching festival, usu- tariffs,  while  food  inflation  rose  to
       rects oil from Western markets because  ing source-based information that the  imports.  ally a time of generosity.    more than 47%.
       of the Ukraine conflict.      country would not buy refined prod-  "I  will  not  disclose  anything   "But  Bhabi  purchased  us  un-  "Slowly, the hardships are increas-
          As  a  long-standing  Western  ally  ucts.              about  the  commercial  side  of  the  stitched cloth which we will wear af- ing,"  said  philanthropist  Faisal  Edhi,
       and the arch-rival of neighboring In-  A source in Moscow who is famil- deal," he said.  ter stitching here," she added, refer- the  head  of  Pakistan's  largest  char-
       dia, which historically is closer to Mos- iar with the negotiations told Reuters   Pakistan's Refinery Limited (PRL)  ring by an affectionate name to Saba  ity  operation,  the  Edhi  Foundation,
       cow, analysts say the crude deal would  that the final deal was reached in re- will  initially  refine  the  Russian  crude  Edhi, who is in charge of the network  which runs  the  orphanages, home  to
       have been difficult for Pakistan to ac- cent days.         in  a  trial  run,  followed  by  Pak-Arab  of orphanages across the South Asian  more than 8,000 children.
       cept, but its financing needs are great.  The Russian government did not  Refinery Limited (PARCO) and other  nation.      The  three  truckloads  of  donated
          Discounted  crude  offers  respite  respond to a request for comment.  refineries, Malik said.  "It  is  good,"  added  Laiba,  who  items, such as old clothes, shoes and
       as  Pakistan  faces  an  acute  balance  of   Major Russian oil companies have   As part of sanctions on Moscow,  goes by one name. She is one of about  other household effects that the Edhi
       payments crisis, risking a default on its  discussed the possible supply of oil to  Western nations have imposed a $60 a  30 residents of the home who said they  centers  in  Karachi  usually  received
       debt obligations. The foreign exchange  Pakistan over recent months, two trad- barrel price cap on purchases of Rus- were glad to get new shoes and clothes,  every week have dwindled to just one
       reserves  held  by  the  central  bank  are  ing sources familiar with the talks said,  sian oil to try to limit Russia's revenues  despite the rising cost of living.  now, he added.
       scarcely enough to cover four weeks of  but declined to disclose the names of  for fighting in Ukraine.  Edhi,  who  was  helping  to  em-  "We will stand with our country
       controlled imports.           possible suppliers. One of the sources,   India  and  China,  however,  have  broider the clothes, said she had to dip  at  this  moment  of  distress,s  and  we
          Energy imports make up the ma- speaking  on  condition  of  anonymity,  paid prices above the cap, according to  into savings to cover the cost of the Eid  will try to fulfill needs with our limited
       jority  of  the  country's  external  pay- said Russia plans to supply Urals crude   (Continued on page 23)  gifts, as this year no donations of read- resources," he said. - Reuters
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