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OIC meetings

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ISLAMABAD: Chairman of Parliamentary Committee on Kashmir Syed Fakhar Imam Saturday said it was a good decision of the Pakistan government not to attend the meeting of Organization of Islamic Cooperation (OIC).

Talking to the Media he said Pakistan being the founder member of the OIC had a pivotal role for the Muslim Ummah which it should continue playing in future. He said the government should focus on de-escalating the tense situation created by the Indian leadership. Prime Minister Imran Khan already showed statesmanship in the face of Indian aggression and again and again reiterated his offer of peace, which was being lauded by the international community.
Even Indian scholars and writers were writing columns and editorials in the favor of Prime Minister Imran Khan, he added. Fakhar Imam said in the international arena no country could control others. The relations among the countries relations were based on mutual interests, he added. Replying to a question, he said Pakistan had an opportunity in the current situation and should highlight the Kashmir issue more effectively at all international forums through strong diplomacy. He said India become a narrow-minded state and its leadership boasted of it before the international community.
He said India was perpetrating barbarism in the occupied Kashmir. The people of Kashmir had faced Indian brutalities for many decades but after the martyrdom of Burhan Wani, their indigenous independence movement was continuing with full force, he added. He said all political parties of the country were on the same page on the issue of Kashmir as they were united against the Indian aggression. To another query, he said it was unfortunate that the Muslim countries had failed to utilize their resources for developing human resources.

 

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Some 11,400 BMW vehicles yet to be inspected for safety

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SEJONG: Some 11,400 BMW vehicles have yet to be inspected for safety as of Friday, with about 7,900 of them having received reservations to undergo checks, the transport ministry said.
The German automaker recalled 106,317 BMW cars after a string of cases of engines catching fire. There have been 40 such cases in South Korea so far this year.
The ministry said 11,471 BMW cars, or 10.8 percent of the vehicles subject to the recall, have not yet undergone inspections, but 7,937 of them have inspection reservations at service centers.
The government on Tuesday ordered cars that have not been inspected at certified service centers be barred from the road.
Ministry officials said they are in the process of locating and alerting the remaining owners of BMWs that they need to have their vehicles checked as soon as possible.

 

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PSX: Political and Economic anxiety lets bears reign the first trading day at the bourse

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Bourse in the red

SANA MAHMOOD

KARACHI: Benchmark KSE-100 Index went one percent down to close at 42,019 as the bourse closed red experiencing the dullest day since mid 2015.

Rs.4b worth 88.9m shares changed hands today. Value of the shares of 115 companies that traded today advanced, 228 declined while 17 remained stagnant.

Today’s top five traders of shares were: Chakwal Spinning, 5.6m shares (-7.74pc); TRG Pak Ltd., 5.6m shares (+0.35pc); Nishat (Chun.), 4.6m shares (+4.99pc); K-Electric Ltd., 4.6m shares (-1.99pc); Bal.Glass, 3.9m shares (+2.93pc).

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IMF delegates postpone Islamabad visit after terror attacks

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ISLAMABAD: A delegation of the International Monetary Fund (IMF) has postponed its visit to Islamabad due to recent terror incidents in the country.

The delegation was scheduled to visit Pakistan next week to meet the Pakistani officials in Islamabad first after several years due to improved security in the country.

These talks were previously being held in the UAE.

The sources from the IMF, as well as the finance ministry, have confirmed reports about the postponement of the meeting after the recent spate of terrorism in the country.

“The talks with the IMF were planned under Article-IV of the monetary fund to review the status of Pakistan’s economy, as the country needs IMF certification of good health to keep borrowing from foreign capital markets and multilateral lenders due to its inability to attract non-debt creating foreign inflows,” an official from the IMF said.

It was supposed to be the first high-level interaction between Pakistan and the IMF after the expiry of the $6.2 billion bailout package that ended in September last year.

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