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were expelled or withdrawn in tit-for- Mumtaz Zahra Baloch said Pakistan's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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