Coronavirus outbreak: IMF warns of

negative impact on Pak economy

Listen

ISLAMABAD: The IMF mission has expressed concerns over coronavirus impact on
Pakistan’s economy as spillover effect of slowing down of Chinese economy might
negatively affect Islamabad’s GDP growth endeavours for the current fiscal year.
However, Pakistani authorities rejected any negative impact on its economy in totality
and argued that there would be no negative impact so the GDP growth target of 3.3
percent and inflation hovering around 11 to 12 percent must remain intact.

The IMF projected Pakistan’s GDP growth at 2.4 percent and inflation around 11 to
12 percent for the current fiscal year.

The IMF team also kick-started exact costing exercise to ascertain financing
requirements for achieving Sustainable Development Goals (SDGs) related to
education, health, water and sanitation as well as provision of electricity till 2030. The
initial rough estimates suggest that Pakistan requires additional 7 percent of GDP
equivalent resources to meet ambitious targets under SDGs every year till 2030 to
fulfill its commitment.

However, Pakistan and the IMF mission kick-started policy level talks to finalise
policy prescription on fiscal, monetary, external and energy sectors and evolving
consensus which could pave the way for striking staff level agreement with Pakistan
and the IMF visiting mission.

Regarding coronavirus impact on Pakistan’s economy, the IMF mission raised this
issue before Pakistani authorities fearing that it might result into further slowdown of
the economy in the current fiscal year.

Pakistani authorities argued that there was need to understand linkages between
Pakistan and Chinese economies before ascertaining its real impact.

China’s economic size stood at over $14 trillion having 16 percent share in global
economy. The China’s GDP possessed contribution of agriculture sector to the tune of
8 percent, industry 40 percent and services sector by 52 percent. The Wuhan, the
capital of Hubei province, that remained the worst hit area of coronavirus, possessed
around 4.5 percent share in China’s overall GDP growth with contribution of industry
46 percent, service 43 percent and agriculture 11 percent. The major industries located
in this area are related to automotive, textile, steel, iron, petrochemicals, electronics,
food processing and manufacturing having major destinations of exports included
USA, South Korea, Netherlands, India, Germany, Japan, UK, Singapore and Brazil.

Its major imports are from Japan, South Korea, Taiwan, US, Germany, Australia,
Malaysia, Saudi Arabia and Brazil.

Now Pakistan’s share of export to China stood at $937 million or 7.6 percent while
import from China was $4.9 billion (22.0 percent) during July-December period of the
current financial year 2020. The major exports to China included food $216 million or
23.1 percent, raw material (7.1 percent; 67 million) and Textile (59.9 percent; $561
million).

The impact on Pak economy dependent on time length of handling coronavirus and its
intensity of spreading in surroundings.

The import from China has already slowdown traditionally during severe winter
season every year because the government closed down the Pak-China border on Nov
30 and opened on 1st week of April, because heavy snow made transportation
impossible, so slow down in China will not negatively impact Pakistan immediately
as traders have sufficient stocks of Chinese products, if the impact continues after
April.

Our textile industry and exports may increase as Hubei’s textile is going to slow down
and our textile industry may get more orders from global market.

It is expected that Chinese currency Yuan will depreciate 3 to 5 percent, import bill of
Pakistan may decline $200 million to $300 million.

There is projection that commodity prices will decline e.g. crude oil and Palm oil/soya
bean oil, these are our major import items, so their decline will have favorable impact
on our trade balance and ease out inflation/domestic prices, they further argued.
 Wheat crisis had resulted due to government's negligence, said Prime Minister
Imran Khan on Saturday, promising that an investigation would be conducted in the
matter and he would not spare the ones involved.

The prime minister was speaking during the inauguration ceremony of the distribution
of Sehat Insaf Card across all the districts of Punjab. He admitted that the wheat,
sugar crisis had been caused due to the government's negligence.

"This was our [government] negligence, I admit this," he said. "I am telling you this
today, we are conducting an investigation into this [wheat, sugar crisis] and we are
slowly getting to know who is involved. I promise you, whoever is involved in the
wheat, sugar crisis, we will not leave that person," he added.

The prime minister said that his government was getting to know who had "made
money off people through artificial inflation". He said that the government was
making a system which will identify in the future about any product that is about to be
short in supply.

"We will then import that product or be ready for it," he said.

How the wheat crisis unfolded across Pakistan

Wheat prices across the country sky rocketed last month after fears of a looming
shortage of wheat and sugar hit markets. The government had said it was doing all it
could to contain the crisis, amid allegations from the opposition that the government
was ill-equipped to deal with the issue.

The News had reported that the wheat crisis originated in Sindh and then spread to
other provinces. The report further said that corruption probes against officials in the
Sindh government discouraged many in the province from the procurement of wheat
that would otherwise have increased existing surplus wheat stock. At one point, the
reserve stock was as low as 0.2 million tons.
 The problem was exacerbated by a decision to export 200,000 to 400,000 tons of
wheat, keeping in view surplus stocks on the basis of estimates presented by Ministry
of National Food Security and Research, but the actual exports of wheat crossed
640,000 tons.

FD
Fakhar Durrani
February 7, 2020

 Home
 Today's Paper
 Top Story

Will coronavirus affect CPEC and Pak

economy?
Listen
ISLAMABAD: Can coronavirus outbreak create havoc in Pakistan and hamper the
ongoing progress on the China Pakistan Economic Corridor (CPEC) projects? The
question has put Pakistani authorities in a catch-22 situation.

Thousands of Chinese nationals working on CPEC projects left for China last month
to celebrate the New Year and might not be returning anytime soon without proper
screening. Their return can possibly cause the coronavirus outbreak in Pakistan as
some of the Chinesemight be potential carrier of latent and/or active coronavirus. If
they don’t return soon, the progress on CPEC projects will be halted.

Pakistani officials believe the coronavirus will have no repercussions on the CPEC
projects and China will not send any of its national to Pakistan without completing the
14-day quarantine period. However, former chairman Parliamentary Committee on
CPEC believes the delay in Chinese workers return will slow down the CPEC projects
and subsequently hamper the country’s economy.
At present the number of Chinese nationals working on different CPEC projects in
Pakistan is around 10,000 to 15,000. Besides CPEC, thousands of other Chinese are
residing in Pakistan for business purposes or working on some other projects. A
majority of them had left for China to celebrate the Chinese New Year with their
families, official sources confirmed.

Their early return to Pakistan will pose a serious threat as some circles have expressed
doubts that there are chances some of the Chinese workers might be carrying latent
and/or active coronavirus. The host country (Pakistan) not only lacks the screening
kits for such a large number but it has no adequate facilities for the treatment of this
pandemic. Hence raising many questions whether China will send back its workers to
resume the ongoing projects or will it delay their return until they finish the
mandatory 14-day quarantine period in China.

The pre-coronavirus progress on CPEC projects during the present regime is not as
ideal as it was during the previous government’s era. The projects were slowed down
during the first year of present government due to lack of coordination from Pakistani
side. However, proper work on these projects resumed after the November 2019 JCC
meeting. The possibility of prolong outbreak of coronavirus will once again hinder the
CPEC projects, official documents and background discussions with informed sources
reveal.

Till 2018, China has already injected a sum of $27 billion in Pakistan for different
CPEC projects. Furthermore, an amount of $19 billion was to be spent in Pakistan till
June 2021 which seems impossible now as the present government has delayed the
projects, informed a well-placed source associated with CPEC projects.

During the PML-N regime the progress on CPEC projects was not only satisfactory
but many projects were completed before time.

Total number of Chinese citizens working on CPEC and other projects

According to Mushahid Hussain Sayed, 2017 was the peak time when maximum
projects were being carried out under the CPEC. The total number of Chinese
nationals working on CPEC projects in 2017 was 19,583. According to official
sources, currently around 10,000 to 15,000 Chinese are working on the CPEC
projects. The number of Chinese nationals is reduced because some of the projects
have been completed.

Similarly, according to Securities and Exchange Commission of Pakistan (SECP)

official data, a total of 2,022 companies with Chinese subscribers or shareholders are
registered with the regulatory body as of December 31, 2019. Similarly, 167 Chinese
companies are also registered with SECP.

However, the total number of Chinese residing in Pakistan is far more than the official
data as many are working on private projects as well as doing business in the country.
January 25, 2025 was the Chinese New Year and thousands of Chinese citizens
working in Pakistan left for China. This scribe contacted DIG Immigration Nasir
Mehmood Satti to know the exact number of Chinese left for China in January 2020.
However, he refused to comment on the issue.

Progress on CPEC projects

Official documents and background discussion with the Pakistani officials associated
with CPEC proves that the progress on CPEC projects during the previous regime was
not only satisfactory but almost every early harvest project was completed in time.
However, the progress on the projects started getting late during the PML-N era as
some have either been halted or are facing unprecedented delay.

During the 7th Joint Cooperation Committee on CPEC held on Nov 21, 2017, it was
decided that Joint Working Group (JWG) on energy will carry out joint studies on the
current power status, future load forecast as well as the potential power market in
Pakistan. However, according to official sources, no significant progress has been
made on this count. Although the study was being carried out during the previous
regime but this recommendation of the last JCC of PML-N government hasn’t been
implemented in letter and spirit yet.

Similarly, Pakistani side in 2017 agreed to facilitate the early resolution of EPC
provincial sales tax issues so that the power generation projects are not adversely
affected. However, the tax related issues still exist.

Fate of ML-1

It was decided in 5th Joint Working Group meeting on transport infrastructure

convened on Sept 23, 2017 in Karachi that the work on phase-1 of ML-1 would be
started early 2018 and all requisite arrangements including preliminary design review
signing commercial contract etc would be completed through proactive approach. But
the ML-1 project is yet to be started even after passage of two years.

Pakistan had proposed extension of ML-1 to Torkham. Both sides had agreed to
discuss the extension at technical level on completion of the feasibility study being
carried out. The study was completed during the PML-N tenure but the actual issue
was the modus operandi which is still unresolved, informed the source.

Progress on CPEC projects in Gwadar

There were several projects related to Gwadar — the heart of CPEC but unfortunately
the speed of the work on these projects is very slow. According to Gwadar
Development Authority officials, the work on East Bay Expressway (19 kilometer)
was started in October 2017 and the due date of this project was October 2020.
However, it is still under construction. The project director of East Bay Expressway
Imam Bux Bizenjo says almost 70 percent work on this project has been completed.
The project was delayed due to technical issues as three bridges have been added. It
will now be completed in April 2021, he said.

Similarly, the other projects including 5 MGD Desalination plant, 300MW Coal Fired
Power Plant, Gwadar Free Zone, 30MW captive power plant were approved by the
last JCC of PML-N government held in November 2017. Interestingly, no significant
progress has been made on these projects. The proposal of 5 MGD desalination plant
was submitted to Balochistan chief secretary on Nov 20, 2017 who was supposed to
reply on Nov 27, 2017. However, no significant progress has been made. According
to Gwadar Development Authority (GDA) officials the projects were delayed due to
technical issues.

There is no update on Gwadar Port Breakwater as well as Gwadar Port Dredging. The
sources inform that both the projects are with the Chinese authorities. There should be
significant progress on these projects, said the official sources.

Four Road Infrastructure projects proposed by Pakistan in 2017

The Pakistani side had proposed four road infrastructure projects including Mirpur-
Muzzafarabad Mansehra 200km project of road infrastructure, Gilgit-Shandoor-
Chitral 359km, Nokundi-Mashakhel-Panjgur Road 290km, Keti Bandar Sea Port
Development Project. The 7th JCC had given go ahead for conducting the technical
feasibility study of these projects.

The officials associated with CPEC informed that the none-seriousness of the present
government can only be imagined with this one example that during the first JCC
meeting of PTI government even the minister had no preparation or proper
background of CPEC projects.

How Mushahid sees progress on CPEC projects

The present government squandered its first year and did not take the CPEC projects
seriously. However, the two visits of Imran Khan during 2019 helped him understand
the importance of these projects.

When asked how many projects have been completed under CPEC and if there is any
megaproject in the pipeline, Mushahid said early harvest projects ranging from three
to five years have more or less been completed. These projects were related to energy
and road infrastructure. The upcoming mega projects which will be started very soon
include ML-1. This project is basically dualization and upgradation of 1872
kilometers railway track from Peshawar to Karachi.

The project was supposed to be inaugurated during the previous regime however due
to some technical hitches it was delayed. The Asian Development Bank (ADB) had
offered the financing of Pakistan Railways upgradation. The previous government had
proposed that both the ADB and Chinese government should finance the railway
upgradation. However, Chinese didn’t like this idea.

Upcoming CPEC projects

“Though Minister for Railways Sheikh Rashid Ahmed claims that both the sides have
reached an agreement vis-à-vis ML-1 projects but according to my information the
financing issues are still unresolved. It isn’t decided yet whether the financing of
Pakistan Railways upgradation should be done in dollar or RMB,” commented
Senator Mushahid Hussain.

Pakistan’s priorities have changed during the PTI-led government. The Chinese
government will now spend $1 billion under the socio-economic programme in
Pakistan in coming years. The Chinese will now carry out different programmes in
least developed areas of Balochistan and Khyber Pakhtunkhwa under the socio-
economic programme in six fields including education, health, water, irrigation,
technical and vocational education and poverty alleviation.

Another upcoming mega project is the $250 grant for Gwadar Airport whereas the
third mega project in the pipeline is the establishment of special economic zones.

However, the problem is these special economic zones will come under the umbrella
of Board of Investment. The government’s seriousness towards the special economic
zones can be gauged by only this factor that it has changed three chairmen so far. The
government appointed Naeem Zamindar then Haroon Sharif and now Zubair Gilani
who happens to be Imran Khan’s friend. “I personally doubt the capabilities of this
government and BOI. To attract maximum investments by Chinese in the industrial
sector Pakistan needs better marketing skills,” he said.

About the total number of Chinese nationals working on different CPEC projects,
Mushahid said in 2017 when the CPEC projects were on peak there were 19,583
Chinese workers in Pakistan. Since Sahiwal Coal-Fired Power Plants, Port Qasim and
road infrastructure projects have been completed so it is true the total number of
Chinese workers at present will be around 12,000 to 15,000.

Mushahid’s views on impact of coronavirus on CPEC and Pakistan’s economy

Mushahid agrees that Chinese economy will be slowed down during the first two
quarters of 2020 because of the coronavirus outbreak. He believes the timeline of new
projects under CPEC will be affected because of the coronavirus as many workers had
left for China to celebrate the New Year. The delay in CPEC’s new projects and
ongoing one will slightly affect Pakistan’s economy.

Chinese are very strict as far as the coronavirus is concerned. They will not allow any
Chinese national to travel to Pakistan or any other country without completing the
mandatory 14-day quarantine. This is a fact that Pakistan lacks proper facilities for the
treatment of coronavirus therefore China will make sure that all its workers should
undergo proper screening before leaving for Pakistan.

Dr Ishrat’s views on Coronavirus and CPEC

Adviser to Prime Minister on Institutional Reforms and Austerity Dr Ishrat Hussain

however doesn’t agree that the coronavirus will have any impact on the CPEC
projects or disturb Pakistan’s economy. According to him it is too early to predict that
the coronavirus will halt the ongoing projects under CPEC.

“Most of the projects under CPEC are energy related which have already been
completed. Whereas the road infrastructure projects have also been finalised. We have
surplus energy therefore I don’t think that any delay in the CPEC projects due to
coronavirus will hamper the country’s economy unless the coronavirus outbreak stays
long in China. If the pandemic is not controlled timely then there might be some
impact on the CPEC projects as well as Pakistan’s economy,” commented Dr Ishrat.

Pakistani skilled labour is well trained now and handling many projects under the
CPEC. Therefore, a short absence of the Chinese workers will not halt the projects. It
is yet not confirmed how many Chinese citizens working on CPEC projects left
Pakistan to celebrate the New Year. Hence it will be premature to comment on this
issue, said Dr Ishrat Hussain.

FO spokesperson’s point of view on the Coronavirus outbreak in China

Foreign Office Spokesperson Aisha Farooqui when contacted Monday said Chinese
government has already extended the New Year holidays till the mid of February due
to coronavirus. The official correspondence with the Chinese government as of
Monday was not resumed due to holidays.

About the return of thousands of Chinese workers who left Pakistan last month to
celebrate New Year with their families, the spokesperson said that Chinese as well as
Pakistani government is taking measures. “We have this realisation that the Chinese
workers who went to China for holidays will have to return Pakistan. However, no
Chinese citizen can leave China without a health certificate and proper screening,”
commented the FO spokesperson.

She said Pakistan is with its time tested friend China at this critical moment. “This is
an international crisis and everyone should support China to combat this outbreak,”
said Aisha Farooqui.
EmailClick to email this to a friend
More
For three days last week, Pakistan was riveted by a surprise legal crisis over an
extension in the term of its Chief of Army Staff General Qamar Javed Bajwa. It was a
last-minute showdown — just before General Bajwa’s term was set to expire on
November 28 — between the federal government, which had ordered the extension,
and the Supreme Court, which on November 26 took notice of a petition challenging
it and suspended the extension.

This case was unprecedented — no such hearing over an extension for an army chief
has ever been held in Pakistan, despite a history of army chiefs’ tenures being
extended. The case also has wider, significant implications about the state of civil-
military-judiciary relations in Pakistan.

PAKISTAN’S MOST POWERFUL MAN

Many consider Pakistan’s chief of army staff to be the most powerful man in the
country. In August, more than three months before General Bajwa’s three-year term
was set to end, Prime Minister Imran Khan’s government — citing an emergency in
the “regional security situation” — issued him a three-year extension beyond
November. The regional security issues at play were India’s revocation of Kashmir’s
autonomy and Pakistan’s ongoing help in the U.S.-Afghan peace process. But many
argued at the time that by granting Bajwa an extension, Khan was ensuring smooth
sailing for his government for another three years — given the ways in which the
army, under Bajwa, had paved, or perhaps primed, the path for Khan to become prime
minister last year.
The chief justice and Supreme Court took the federal government and its attorney
general to task last week, pushing the decision down to the wire: the day the army
chief was set to retire. The court argued that the government had botched the
bureaucratic process for Bajwa’s extension (alternately referring to it also as his
reappointment, or the limiting of retirement), but it also emerged during the
proceedings that there was no legal basis — not in the constitution, nor in the army
rules — for this extension, and certainly nothing that specified that the duration
needed to be three years. It appeared the government had simply followed previous
practice: Army chiefs either granted themselves extensions when they were in power,
or civilian leaders did so. Most recently this occurred in 2010, when President Zardari
extended the term of then-army chief General Ashfaq Kayani.
Search Results
Featured snippet from the web
Joint Chiefs of Staff Committee (JCSC)

Position Name Service

Chief of Air Staff Air Chief Marshal Mujahid Anwar Khan Pakistan Air Force

Chief of Army Staff General Qamar Javed Bajwa Pakistan Army

Chief of Naval Staff Admiral Zafar Mahmood Abbasi Pakistan Navy

The first chief justice was Sir Abdul Rashid.[9][10] The current chief justice is Gulzar Ahmed; incumbent
since 21 December 2019.

1. Raja Muhammad Sarwar Shaheed

Unit and Service: 2/1 Punjab Regiment, Pakistan Army

Rank: Captain

Conflict: Indo-Pak War

2. Tufail Muhammad Shaheed

Unit and Service: Punjab Regiment, Pakistan Army

Rank: Major

Conflict: 1958 Indo-Pak Border Skirmish

 3. Raja Aziz Bhatti Shaheed

Unit and Service: 17 Punjab Regiment, Pakistan Army

Rank: Major

Conflict: 1965 Indo-Pak War

4. Rashid Minhas Shaheed

Unit and Service: No. 2 Fighter Conversion Unit, Pakistan Air Force

Rank: Pilot Officer

Conflict: Bangladesh Liberation War 1971

5. Rana Shabbir Sharif Shaheed

Unit and Service: 6 Frontier Force Regiment, Pakistan Army

Rank: Major

Conflict: Bangladesh Liberation War 1971

6. Muhammad Hussain Janjua Shaheed

Unit and Service: 20 Lancers (Armoured Corps), Pakistan Army

Rank: Sawar

Conflict: Bangladesh Liberation War 1971

 7. Muhammad Akram Shaheed

Unit and Service: 4 Frontier Force Regiment, Pakistan Army

Rank: Major

Conflict: Bangladesh Liberation War 1971

8. Muhammad Mahfuz Shaheed

Unit and Service: 15 Punjab Regiment, Pakistan Army

Rank: Lance Naik

Conflict: 1971 Indo-Pak War

9. Karnal Sher Khan Shaheed

Unit and Service: Sindh Regiment/12 Northern Light Infantry, Pakistan Army

Rank: Captain

Conflict: 1999 Indo-Pak Kargil Conflict

10. Lalak Jan Shaheed

Unit and Service: 12 Northern Light Infantry, Pakistan Army

Rank: Hawaldar

Conflict: 1999 Indo-Pak Kargil Conflict

 11. Saif Ali Janjua Shaheed

Unit and Service: Azad Kashmir Regiment(Haider Dil) Battalion, Pakistan Army

Rank: Naik

Conflict: Indo-Pakistani War of 1947

In the latest reports, Pakistan's Total Exports recorded 1.8 USD bn in Sep 2019.
Total Imports recorded 3.8 USD bn in Sep 2019, which registered an increase of 0.8 %
year on year. Pakistan's Trade Balance recorded a deficit of 2.1 USD bn in Jan 2020.
Previous: 27.3 Nov 2019
Min: -19.2 Sep 2015
Last: 7.6 Dec 2019
Range: Dec 1988 - Dec 2019 Updated on 17 J.
Imports of Pakistan  Pakistan's imports Theseare also highly concentrated in few items
namely, machinery, petroleum and petroleum products, chemicals, transport equipment, edible
oil, iron and steel, fertilizer and tea. imports accounted for 73% of total imports during 2006-
07

Check out this alphabetical list of every independent nation and its capital
(Taiwan is also included):

1. Afghanistan: Kabul
2. Albania: Tirana
3. Algeria: Algiers
4. Andorra: Andorra la Vella
5. Angola: Luanda
6. Antigua and Barbuda: Saint John's
7. Argentina: Buenos Aires
8. Armenia: Yerevan
9. Australia: Canberra
10. Austria: Vienna
11. Azerbaijan: Baku
12. The Bahamas: Nassau
13. Bahrain: Manama
14. Bangladesh: Dhaka
15. Barbados: Bridgetown
16. Belarus: Minsk
17. Belgium: Brussels
18. Belize: Belmopan
19. Benin: Porto-Novo
20. Bhutan: Thimphu
21. Bolivia: La Paz (administrative); Sucre (judicial)
22. Bosnia and Herzegovina: Sarajevo
23.Botswana: Gaborone
24. Brazil: Brasilia
25. Brunei: Bandar Seri Begawan
26. Bulgaria: Sofia
27. Burkina Faso: Ouagadougou
28. Burundi: Gitega (changed from Bujumbura in December 2018)
29. Cambodia: Phnom Penh
30. Cameroon: Yaounde
31. Canada: Ottawa
32.Cape Verde: Praia
33.Central African Republic: Bangui
34. Chad: N'Djamena
35. Chile: Santiago
36. China: Beijing
37. Colombia: Bogota
38. Comoros: Moroni
39. Congo, Republic of the: Brazzaville
40. Congo, Democratic Republic of the: Kinshasa
41. Costa Rica: San Jose
42. Cote d'Ivoire: Yamoussoukro (official); Abidjan (de facto)
43. Croatia: Zagreb
44. Cuba: Havana
45.Cyprus: Nicosia
46. Czech Republic: Prague
47. Denmark: Copenhagen
48. Djibouti: Djibouti
49. Dominica: Roseau
50. Dominican Republic: Santo Domingo
51. East Timor (Timor-Leste): Dili
52. Ecuador: Quito
53. Egypt: Cairo
54.El Salvador: San Salvador
55. Equatorial Guinea: Malabo
56.Eritrea: Asmara
57. Estonia: Tallinn
58. Ethiopia: Addis Ababa
59.Fiji: Suva
60. Finland: Helsinki
61. France: Paris
62. Gabon: Libreville
63. The Gambia: Banjul
64. Georgia: Tbilisi
65.Germany: Berlin
66. Ghana: Accra
67. Greece: Athens
68. Grenada: Saint George's
69. Guatemala: Guatemala City
70. Guinea: Conakry
71. Guinea-Bissau: Bissau
72. Guyana: Georgetown
73. Haiti: Port-au-Prince
74. Honduras: Tegucigalpa
75. Hungary: Budapest
76. Iceland: Reykjavik
77. India: New Delhi
78.Indonesia: Jakarta
79. Iran: Tehran
80. Iraq: Baghdad
81. Ireland: Dublin
82. Israel: Jerusalem*
83. Italy: Rome
84. Jamaica: Kingston
85. Japan: Tokyo
86. Jordan: Amman
87.Kazakhstan: Astana
88. Kenya: Nairobi
89. Kiribati: Tarawa Atoll
90. Korea, North: Pyongyang
91. Korea, South: Seoul
92. Kosovo: Pristina
93. Kuwait: Kuwait City
94. Kyrgyzstan: Bishkek
95.Laos: Vientiane
96. Latvia: Riga
97. Lebanon: Beirut
98. Lesotho: Maseru
99. Liberia: Monrovia
100. Libya: Tripoli
101. Liechtenstein: Vaduz
102. Lithuania: Vilnius
103. Luxembourg: Luxembourg
104. Macedonia: Skopje
105. Madagascar: Antananarivo
106. Malawi: Lilongwe
107. Malaysia: Kuala Lumpur
108. Maldives: Male
109. Mali: Bamako
110. Malta: Valletta
111. Marshall Islands: Majuro
112. Mauritania: Nouakchott
113. Mauritius: Port Louis
114. Mexico: Mexico City
115. Micronesia, Federated States of: Palikir
116. Moldova: Chisinau
117. Monaco: Monaco
118. Mongolia: Ulaanbaatar
119. Montenegro: Podgorica
120. Morocco: Rabat
121. Mozambique: Maputo
122. Myanmar (Burma): Rangoon (Yangon); Naypyidaw or Nay Pyi Taw
(administrative)
123. Namibia: Windhoek
124. Nauru: no official capital; government offices in Yaren District
125. Nepal: Kathmandu
126. Netherlands: Amsterdam; The Hague (seat of government)
127. New Zealand: Wellington
128. Nicaragua: Managua
129. Niger: Niamey
130. Nigeria: Abuja
131. Norway: Oslo
132. Oman: Muscat
133. Pakistan: Islamabad
134. Palau: Melekeok
135. Panama: Panama City
136. Papua New Guinea: Port Moresby
137. Paraguay: Asuncion
138. Peru: Lima
139. Philippines: Manila
140. Poland: Warsaw
141. Portugal: Lisbon
142. Qatar: Doha
143. Romania: Bucharest
144. Russia: Moscow
145. Rwanda: Kigali
146. Saint Kitts and Nevis: Basseterre
147. Saint Lucia: Castries
148. Saint Vincent and the Grenadines: Kingstown
149. Samoa: Apia
150. San Marino: San Marino
151. Sao Tome and Principe: Sao Tome
152. Saudi Arabia: Riyadh
153. Senegal: Dakar
154. Serbia: Belgrade
155. Seychelles: Victoria
156. Sierra Leone: Freetown
157. Singapore: Singapore
158. Slovakia: Bratislava
159. Slovenia: Ljubljana
160. Solomon Islands: Honiara
161. Somalia: Mogadishu
162. South Africa: Pretoria (administrative); Cape Town (legislative);
Bloemfontein (judiciary)
163. South Sudan: Juba
164. Spain: Madrid
165. Sri Lanka: Colombo; Sri Jayewardenepura Kotte (legislative)
166. Sudan: Khartoum
167. Suriname: Paramaribo
168. Swaziland: Mbabane
169. Sweden: Stockholm
170. Switzerland: Bern
171. Syria: Damascus
172. Taiwan: Taipei
173. Tajikistan: Dushanbe
174. Tanzania: Dar es Salaam; Dodoma (legislative)
175. Thailand: Bangkok
 176. Togo: Lome
177. Tonga: Nuku'alofa
178. Trinidad and Tobago: Port-of-Spain
179. Tunisia: Tunis
180. Turkey: Ankara
181. Turkmenistan: Ashgabat
182. Tuvalu: Vaiaku village, Funafuti province
183. Uganda: Kampala
184. Ukraine: Kyiv
185. United Arab Emirates: Abu Dhabi
186. United Kingdom: London
187. United States of America: Washington, D.C.
188. Uruguay: Montevideo
189. Uzbekistan: Tashkent
190. Vanuatu: Port-Vila
191. Vatican City (Holy See): Vatican City
192. Venezuela: Caracas
193. Vietnam: Hanoi
194. Yemen: Sanaa
195. Zambia: Lusaka
196. Zimbabwe: Harare

An important fact to note is that the executive, judicial, and legislative branches
of the State of Israel are all located in Jerusalem, making it the capital;
nonetheless, almost all countries maintain their embassies in Tel Aviv. President
Donald Trump moved the U.S. embassy to Jerusalem in 2018 and others may
follow, possibly just to "curry favor" with the United States for aid in their own
crises, Eric Olson told the Washington Post.

While the listing above is an authoritative listing of the independent countries of

the world, it is important to note that there are also more than 80 territories,
colonies, and dependencies of independent countries, which often have their own
capital cities as well.

Automated Teller Machine

The Indian army suffered 11,479 casualties in the 1965 war (including ceasefire violations) with
2862 killed and 8617 wounded. According to Indian records 5800 Pakistanis were
killed. Pakistani territory occupied by India during the war was approximately 1920 sq. km
while Pakistan occupied about 540 sq.

The essay on Kashmir Issue and dispute discusses the recognition of this world problem by
UNO and the three parties to it Kashmir Issue: An Outline: (1) Introduction: the beginning of an
issue (2) U.N's efforts to resolve it (3) lndo-pak stance on this problem (4) Present situation in
Kashmir (5) A nuclear zone and the Kashmir dispute (6) Conclusion: Various solutions to the
problem of Kashmir. According to the original plan of June 3, 1947, the States forming the then
Indian State were advised b the British crown: "to accede to India or to Pakistan, bearing in
mind the geographical situation of their respective states, the composition of their population
and the wishes of their people." But the Maharaja of Kashmir acceded to India against the
wishes of his people, composition of the population of Kashmir i.e. 77% Muslims at that time
and the geographical conditions. A war was imposed by India in the valley and the Pakistan
forces supported the Kashmiri fighters struggling for their cause. Pakistani forces and the tribes-
men gained almost one-third of the area until a cease fire was imposed by U.N.O In 1948, when
Pakistan involved into the war, India went to U.N.O for help and United Nations passed a
resolution that a plebiscite will be held in the state of Jammu and Kashmir. It means that the
people of that region were to decide either to choose Pakistan or India for allegiance. But
unwillingness of India for the plebiscite delayed the solution of this dispute. India and Pakistan
have different angles to look at the problem. Pakistan believes that seventy seven percent of the
Kashmiris were Muslim at the time of partition. And the geographical conditions favour that
Kashmir should be a part of Pakistan. Pakistan terms the accession of Kashmir to India as
invalid because the Maharaja had a "Standstill Agreement" with Pakistan. The agreement does
not allow for any accession. But the Indians believe it as their 'integral part' because the
Maharaja had a legal accession to India. The present situation of Kashmir is getting worse with
dozens of casualties every day. The Kashmiris want their right of self-determination while
Pakistan has been supporting the Kashmir cause since 1948 on all forums of the world. The
long resisted frustration has turned the Kashmiris to violence at times; however, primarily they
remained a peace loving nation. However, at times incidents of kidnapping or killing of Indian
occupying forces is reported which shows their frustration. The terms between India and
Pakistan have been hostile and they have fought 3 full wars wasting billions of Dollars of their
poor tax payers. Any ignition to the problem of Kashmir may lead the two states at warring
condition which would, in turn, be catastrophic. A strong resolve must be shown by both the
neighbouring countries in resolving the problem of Kashmir with graveness and temperance.
Otherwise, a nuclear war may break out in South East Asia. There are various models of the
solution to Kashmir issue. We may think of the model applied to Cyprus by Turkey and Greece.
There is yet another option to make Kashmir an arms free trading zone. It can even be freed
and made an independent republic but the wishes of the people of Kashmir must bear due
weightage. Our world is our home and ours is the only planet in the universe where life exists.
We must learn to live happily with our neighbours; however, it is possible only if we settle all our
disputes.

On August 5, India decided to take a long-considered move using article

370 of its constitution to change the status of the state of Jammu and
Kashmir. Although this has long been a part of the platform of Prime
Minister Narenda Modi’s Bharatiya Janata Party (BJP), the overwhelming
majority of parliamentarians across all parties supported the decision—with
351 votes for and 72 against. Even the general secretary of the opposition
Congress Party expressed his approval. This has been a move long in the
making, with the backing of a wide swath of Indian political actors. But, the
question remains, why now?
New Delhi made this move in an effort to stabilize Jammu and Kashmir and
integrate it more fully with the Indian state. The Modi government’s decision
is aimed at promoting local governance and encouraging investment in a
state that has lagged behind for decades. The lack of effective local
governance has hampered the development of the entire state of Jammu
and Kashmir, including Ladakh, Jammu, and tourism dependant areas like
Sonamarg and Gulmarg.
Although much criticized, New Delhi’s stepped-up security and
communications restrictions implemented along with the August 5 decision
were lifted in 136 of 197 police station areas. Many schools have also
reopened. Jammu and Kashmir will gradually return to normal, barring any
terrorist activity or violence.
India believes that the accession of Jammu and Kashmir is final, and any
unfinished business regarding partition of the greater Kashmir region only
concerns areas occupied by Pakistan. Reorganizing Jammu and Kashmir
made no territorial changes, but sought to more closely integrate the state
with the rest of India. Therefore, for India, the dispute between India and
Pakistan remains unchanged.
The advancement of U.S.-Taliban talks, and the imminence of a deal, has
demonstrated to India that the U.S. is serious about withdrawing from
Afghanistan. India fears that this could lead to history repeating itself. When
another superpower, the Soviet Union, left Afghanistan some 30 years ago,
intense terrorism in Kashmir immediately followed, as those who fought the
Soviets turned to India.
To India, Islamabad’s objections to the move ring hollow. Over the years,
Pakistan has unilaterally changed the status of other territories it occupies
in the greater Kashmir region, namely Azad Kashmir and Gilgit-Baltistan.
Just last year, Pakistan changed the structure of Azad Kashmir’s
government. India protested the change. But, unlike Pakistani Prime
Minister Khan’s warning of a heightened risk of war and terrorism following
the August 5 decision, India did not resort to threats over Azad Kashmir.
Islamabad now has a choice. It can continue to support terrorism in
Kashmir, which has not only devastated the region, but also severely hurt
Pakistan’s economy. Or it can choose to cease such support and focus on
its internal economic problems. Once the threat of terrorism is removed,
there will surely be room for dialogue.
 By rooting out terrorism, Pakistan can focus on economic development and
more effectively leverage its immense resources to boost its economy. This
could encourage economic linkages across the region, leading to greater
regional stability in the long run.
What are the consequences for India, Pakistan and the region?

Jilani: India’s unilateral decision to revoke Article 370 of its constitution has
severely hampered the chances of a renewal of the peace process
between New Delhi and Islamabad. From Pakistan's perspective the Indian
action constitutes a grave violation of the U.N. Security Council resolutions
on Kashmir and bilateral Pakistan-India agreements, such as the 1972
Shimla Agreement and the Lahore Declaration.
Prime Minister Narenda Modi’s government’s decision will have far
reaching consequences for Pakistan-India relations and regional peace and
security. Islamabad says that increased repression and human rights
violations by Indian forces in Indian Occupied Kashmir will breed violence,
fuel indigenous uprising, and further generate tension with Pakistan. Yet,
since August 5, India has mobilized hundreds of thousands of troops,
detained thousands of Kashmiris, and imposed a curfew resulting in food
and medicine shortages. In Islamabad’s eyes, the disputed region of
Jammu and Kashmir has become a garrison area.
With the illegal steps taken by the Indian government—imposition of
curfew, arrests of political leaders and blockade of communications—the
situation has reached a tipping point. Intensifying violence in Indian-
occupied Kashmir poses serious challenges for Pakistan and the region.
These challenges include:
 For Pakistan, Kashmir remains the core issue and Islamabad cannot
envision a dialogue with India that excludes the Kashmir issue.
 Islamabad rejects India’s claim that Kashmir is an internal matter, pointing
to past and present international and bilateral calls for a peaceful resolution
through dialogue. India’s move violates multiple U.N. Security Council
resolutions and is unacceptable to Pakistan and the international
community.
 The faint hope for a reasonable settlement based on the four-point
formula—which became the basis of back-channel negotiations during the
2004-08 peace process and envisaged self-governance for Kashmiris,
demilitarization, travel across the Line of Control and a monitoring
mechanism, while also protecting the vital interests of the two countries—
has been extinguished.
 Pakistan fears India could stage a false flag in either Jammu and Kashmir
or mainland India and blame it on Pakistan in order to divert attention from
the volatile situation in Kashmir.
 The possibility of direct Indian intervention in Azad Kashmir or subversion
inside Pakistan cannot be ruled out. In case India directly intervenes in
Pakistan or in Azad Kashmir or Gilgit-Baltistan (both of which are part of
what the U.N. calls Pakistan-administered Kashmir), it could result in war
between the nuclear powers with incalculable implications for both
countries and the region.
 The outcome of the current Indian actions could result in more refugees
from India into Pakistan.
 The latest Indian action will complicate the resolution of other long-standing
disputes over issues like the Siachen Glacier and Sir Creek.
 The Indian decision will adversely impact people-to-people contacts and
trade relations between the two countries.
 Tension between India and Pakistan will have a negative impact on
regional security. The South Asian Association for Regional Cooperation
process is already suspended due to India-Pakistan tensions. India’s move
is a further blow to regional cooperation.
Irrespective of India’s actions, the fact is that Kashmir is an internationally
recognized disputed territory and will remain so until the legitimate
aspirations of the Kashmiris are fulfilled. India’s repression in Kashmir is
unlikely to change this reality.
As Pakistan expects more Turkish investment, Turkey aims to diversify its economic cooperations.

Turkish President Recep Tayyip Erdogan arrived in Pakistan’s capital Islamabad

Thursday for his two-day visit.

Accompanied by a big crowd of Turkish businessmen, Erdogan’s visit aims to

transform the historic brotherly relations between two countries into a strong concrete
economic alliance.

The high-level delegations comprising of cabinet members and senior government

officials and leading businessmen will be exploring new opportunities and finalising
several agreements.

Erdogan and his Pakistani counterpart President Imran Khan co-chaired the sixth
session of the Pakistan-Turkey High-Level Strategic Cooperation Council.

Khan said the council meeting is one of the most important symbols of the friendship
between two nations.

“We have deliberated our relationship in detail during the council meeting,” Khan
said, adding that the 13 memorandums of understanding (MOU) signed by both
parties is an indication of “how important the relations between us are".

Turkey will continue supporting Pakistan's fight against terrorism, president tells Pakistan's
parliament in historic speech on February 14, 2020. (AA)
Ranging from tourism to security, the MoUs also include the cooperation between
Pakistan state-owned PTV, Radio Pakistan and Turkey’s state broadcaster Turkish
Radio and Television (TRT).

The Pak-Turk Military Consultative Group was established in 1988 aiming to

strengthen military relations between the two countries. However, as ties improved,
the scope of cooperation expanded and took on a new name, the High-Level Strategic
Cooperation Council (HLSCC).

Facing US sanctions on its army in the 1990s, Pakistan sought Turkish help to
upgrade and modernise its military equipment including its F-16s.
Over the past two years, the two countries have signed mega defence pacts, making
Turkey the second-largest arms supplier to Pakistan after China.

Most notably, in 2018, Pakistan purchased $1.5 billion worth of 30 Turkish-made T-

129 attack helicopters.

As the military ties grew, both countries enhanced their economic partnership in
various fields. Therefore, seven joint groups work under the council to improve ties in
trade and investment, the energy sector, banking and finance, transport and
communication, tourism and culture and education and political coordination.

It marks the fourth visit by Erdogan to Pakistan as Turkey’s prime minister and
president.

However, despite the increasingly close relationship between the two countries,
Islamabad is expecting “much more” out of the visit compared to previous encounters,
according to Abdul Razzak Dawood, the advisor for Commerce, Textile, Industry and
Production and Investment of Pakistan.

“What I am expecting is that we already have the presence of Turkish companies here.
But that’s not enough. We want these numbers double, even triple,” Dawood said.

The current trade volume between the two countries is $900 million.

The Pakistani adviser continued: “We want to increase cooperation with Turkish
companies to benefit from their expertise in different sectors, mainly construction,
tourism, engineering, food processing, chemicals, and information technology.”

Turkey also supports Pakistan in the Financial Action Task Force (FATF), which, if it
blacklists Pakistan, could significantly limit Islamabad’s economic ability and isolate
the country.

The ongoing landmark projects are aimed to boost the trade volume between Turkey
and Pakistan.
In April 2019, Turkey, Iran and Pakistan signed the International Road Transport
agreement. The deal will open a direct Istanbul-Tehran-Islamabad trade corridor with
smooth customs control, linking Turkey, Central Asia and Europe.

Moreover, Pakistan’s Imran Khan recently said he will invite Turkey to involve
China-Pakistan Economic Corridor in a bid to stretch the implementation of
megaprojects across the countries.

Turkey’s new consulate, under construction in Karachi, the largest city and main port
of Pakistan, will be Turkey’s largest consulate anywhere in the world.

As Pakistan expects more investment, Turkey aims to diversify its economic ties
across the countries. This mutual desire to boost economic cooperation has the
potential to bring a new dimension to geopolitics in Asia.

Prime Minister Imran Khan, ever since coming in power, has talked about austerity and
saving national resources. Time and time again, he has vowed to make the corrupt pay
for looting the country. His goals of retrieving money from the looters might have
remained a long-shot, but personally, he is trying everything.

As per a press release from the government, Prime Minister Imran Khan will be
traveling to Davos, in the Swiss Alps, to attend the World Economic Forum (WEF)
meeting. Davos is one of Switzerland’s biggest famous ski resorts but it is noted for
hosting the WEF meetings.
It is an annual meeting where political leaders and business elites come together to
discuss economic issues and solutions to the world. In January 2020, PM Imran Khan
will be representing Pakistan at Davos.

However, the catch here is that PM Khan is once again, proving his austere
ways. The press release states that Khan’s trip to Davos will only cost $68,000. This
reduced cost is unprecedented and a huge welcoming change.
“Saving is part of the prime minister’s ongoing robust drive in which he
has also directed to minimize the expenditures upon his upcoming
WEF participation,” reads the press release.
To see the massiveness of this decreased cost, let us compare how previous Pakistani
leaders planned their Davos trip out.

Comparison of Khan with other PMs

When Ex-PM Nawaz Sharif visited Davos for the WEF meeting, he spent $762,000 on
the trip. Yes, that is 10 crores more than what PM Imran Khan will be spending. Not just
Nawaz, but his old-age friend Shahid Khaqan Abbasi also spent $561,000 on his visit to
Davos. On the other hand, the PM from PPP, Yousuf Raza Gillani also spent $459,000
in the same event’s participation.

Comparing these figures to the one that PM Khan will be spending, it is a mammoth
difference and shows how much money was wasted by previous premiers of Pakistan.

Moreover, this is not the first time PM Imran Khan has shown his austere quality. In July
2019, PM Khan visited USA spending only $67,000 on his visit. In comparison,
Ex-President Asif Zardari’s trip cost $752,000 in 2009 and Nawaz Sharif’s visit cost
$550,000 in 2013.
These things prove for a fact that when the previous leaders were in power, they did not
pay any heed to the dents they put in the national exchequer. Living in the most lavish
of hotels, eating fancy food and spending so much money on the people they took with
them, it was all paid by the general public.

Prime Minister Imran Khan, ever since coming in power, has talked about austerity and
saving national resources. Time and time again, he has vowed to make the corrupt pay
for looting the country. His goals of retrieving money from the looters might have
remained a long-shot, but personally, he is trying everything.

As per a press release from the government, Prime Minister Imran Khan will be
traveling to Davos, in the Swiss Alps, to attend the World Economic Forum (WEF)
meeting. Davos is one of Switzerland’s biggest famous ski resorts but it is noted for
hosting the WEF meetings.

It is an annual meeting where political leaders and business elites come together to
discuss economic issues and solutions to the world. In January 2020, PM Imran Khan
will be representing Pakistan at Davos.

However, the catch here is that PM Khan is once again, proving his austere
ways. The press release states that Khan’s trip to Davos will only cost $68,000. This
reduced cost is unprecedented and a huge welcoming change.
“Saving is part of the prime minister’s ongoing robust drive in which he
has also directed to minimize the expenditures upon his upcoming
WEF participation,” reads the press release.
To see the massiveness of this decreased cost, let us compare how previous Pakistani
leaders planned their Davos trip out.

Comparison of Khan with other PMs

When Ex-PM Nawaz Sharif visited Davos for the WEF meeting, he spent $762,000 on
the trip. Yes, that is 10 crores more than what PM Imran Khan will be spending. Not just
Nawaz, but his old-age friend Shahid Khaqan Abbasi also spent $561,000 on his visit to
Davos. On the other hand, the PM from PPP, Yousuf Raza Gillani also spent $459,000
in the same event’s participation.

Comparing these figures to the one that PM Khan will be spending, it is a mammoth
difference and shows how much money was wasted by previous premiers of Pakistan.

Moreover, this is not the first time PM Imran Khan has shown his austere quality. In July
2019, PM Khan visited USA spending only $67,000 on his visit. In comparison,
Ex-President Asif Zardari’s trip cost $752,000 in 2009 and Nawaz Sharif’s visit cost
$550,000 in 2013.
These things prove for a fact that when the previous leaders were in power, they did not
pay any heed to the dents they put in the national exchequer. Living in the most lavish
of hotels, eating fancy food and spending so much money on the people they took with
them, it was all paid by the general public.

However, PM Khan’s heartwarming gestures of austerity are definitely endorsed and

appreciated. Even though many might not agree with how he is running the country, at
least he is trying to save our tax money.

Bank AL Habib Limited (BAHL) is a place to learn, share ideas, develop one’s talent and find
meaning and realize one’s passion. In a short span of 25 years, BAHL has the distinction of
being one of the top banks in Pakistan, which is just the right place that offers opportunities of
growth, progress and developing a successful career!

Our people come from diverse backgrounds. They bring unique perspectives to our collaborative
environment, where every employee is a valuable resource who needs to be nurtured and
respected. Employees’ happiness quotient is very important to us, that is why constant
communication is maintained to gauge their happiness. We believe that when talent is merged
with the right opportunity in an organization, amazing things can happen.

This is what makes Bank AL Habib a place of opportunity, where your skills can help you to
make your banking career with us.
Executive leadership[edit]

 Abbas D. Habib, Chairman

 Mansoor Ali Khan, CEO
 Qumail R. Habib, Executive Director 2018
Former Chairmen and Chief Executives of Bank AL Habib Limited include: Hamid D. Habib,
Chairman (till 2000), Rashid D. Habib, CEO & Managing Director (till 1994) and Ali Reza D. Habib,
Chairman (till 2016). Bilawal Bukhari King
The bank has a network of 737 branches (inclusive of Islamic, Conventional & Sub-branches) and
three offshore banking units in Bahrain, Turkey and EPZ.

Bank AL Habib Limited is a Pakistani commercial bank owned by Dawood Habib family. It is based
in Karachi, Pakistan. It has a network of 750. Bank Al Habib is planning to add 200 more branches
by the end of 2020.[3]
Bank Al Habib has wholesale branches in Bahrain, Seychelles and Malaysia and offices in UAE,
Istanbul, Beijing, and Kenya. By the end of September 2018, the assets of the bank grew up to Rs.
750 billion.
Habib Group's involvement in banking services dates back to 1930s. They launched HBL Pakistan,
which was nationalized in 1971 and is still one of the largest banks in Pakistan; since 2002 it has
been jointly owned by the government and the Aga Khan Fund for Economic Development.
After the privatization scheme announced in 1991 by the Pakistani Government, Habib Group were
the first to be granted permission to start a private bank, the Bank AL Habib Limited.

History[edit]
The original Habib Bank began modestly in Bombay in 1941 when it commenced operations with a
fixed capital of 25,000 rupees. Impressed by its initial performance, Quaid-e-Azam Muhammad Ali
Jinnah asked the Habib Bank to move its operations to Karachi after the independence of Pakistan.
It was nationalized in 1974.
Under the privatization policy of Government of Pakistan, the Dawood Habib Group was granted
permission to set up a commercial bank. Bank AL Habib was incorporated as a Public Limited
Company in October 1991 and started banking operations in 1992. (Late) Hamid D. Habib, grandson
of the founder a Habib Group, was the first Chairman of Bank AL Habib Limited. He was a Director
in Habib Bank Limited from 1954 and its Chairman from 1971 until nationalization. After the death of
Hamid D. Habib in May 2000, Ali Raza D. Habib, who was Director on the Board, was appointed the
Chairman of the Bank.
Rashid D. Habib, who was the Managing Director of Habib Bank Limited from 1953 till its
nationalisation, was appointed as the Managing Director & Chief Executive of Bank AL Habib
Limited until he died in 1994. After his death, Abbas D. Habib who was the Joint Managing Director
and closely associated with the bank since its inception 1991, was appointed as the Managing
Director and Chief Executive of the Bank. In 2016, he was appointed as Chairman.[citation needed]
In 2005, Bank AL Habib began offering internet banking, with accounts and records visible online. In
2006, Bank AL Habib became partners with MasterCard, allowing them to issue credit cards for the
first time.

Services[edit]
The bank maintains correspondent relations with American Express Bank, USA; Banco di Roma,
Italy; Commerzbank and Dresdner Bank, Germany; The Royal Bank of Canada, Canada; and The
Hongkong and Shanghai Banking Corporation, Hong Kong.
The bank follows the internet banking code NetBanking and security is entrusted by Verisign. This
was launched with a contract made with TPS Pakistan. The bank supports the MNET Switch as a
result of MoU signed between MNET and 1-Link.
Bank AL Habib is one of the eleven partners of 1-Link system, an inter-bank ATM sharing system
which allows customers to transact on ATM of any partner bank. Bank AL Habib is the third largest
ATM service provider in Pakistan,[citation needed] having 196 ATMs while having the largest number of
ATMs in the city of Karachi.
In affiliation with the Arab Financial Services, the bank offers two types of MasterCard.
The bank has a major ownership stake in AL Habib Capital Markets (Pvt) Ltd, a brokerage house
working under the logo of Bank AL Habib.
The bank was selected as one of the top 200 Best Under A Billion companies by Forbes Asia in their
annual review of 2005.
The Asian Banker "Strongest Bank Balance Sheet in Pakistan, 2013".
 SBP Policy Rate

13.25% p.a.

SBP Overnight
Reverse
Repo (Ceiling)
Rate

13.75% p.a.

SBP Overnight
Repo (Floor) Rate

11.75% p.a.

PM says ‘Digital Pakistan’ is an

important initiative for country’s youth
By BR Web Desk on December 5, 2019

 Imran says e-governance will help eradicate corruption from the society.
 ‘Digital Pakistan' focuses on access and connectivity, digital infrastructure, digital skills,
innovation and entrepreneurship.
 Prime minister says those finding easy ways and shortcuts to achieve things in life never
succeed.
 (Karachi) Prime minister Imran Khan has said that ‘Digital Pakistan' is need of the hour and
it is an important initiative for the youth of the country. He said, “We will also bring e-
governance to Pakistan that will help address issues of the masses."
 He expressed these views while addressing launching ceremony of ‘Digital Pakistan Vision
Project' in Islamabad on Thursday.
 He maintained that e-governance will help eradicate corruption from the society. He said the
vision sets Pakistan's digital ambition and has been designed for the government and the
private sector to work towards a digitally progressive and inclusive country.
 Imran said, “The vision brings together multiple initiatives that the government has already
kicked off, and identifies additional focus areas that it will initiate in the coming months."
 “Its strategic pillars include access and connectivity, digital infrastructure, digital skills and
literacy, innovation and entrepreneurship."
 He said forward-looking policy and a broader legal framework will set us on the path to
becoming a truly ‘Digital Pakistan'.
 He added, “Developments [in the digital arena] are taking place at a fast pace, and in the
times to come everything would be done through a mobile phone."
 The vision sets Pakistan's digital ambition and has been designed both for the government
and the private sector to work towards a digitally progressive and inclusive Pakistan.
 He said e-governance will revolutionize our lives and the government is determined to work
on digitalization of the country.
 The prime minister said, “When international organizations, including the Moodys, World
Bank and IMF appreciated the economic progress of the country, it means that the economy
has really improved."
 The PM pointed out that the government has improved the economy of the country but still
there are many challenges that need to be addressed.
 He said that those who take right decisions succeed in life. He added that those finding easy
ways and shortcuts to achieve things in life never succeed.