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Federal Cabinet approves oil purchase agreement with Saudi Arabia

The government of Pakistan will have to pay 3.80% margin along with the payment of fuel

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Federal Cabinet approves oil purchase agreement with Saudi Arabia
GNN Media: Representational Photo

Islamabad: The federal cabinet approved an oil purchase agreement with Saudi Arabia on a deferred payment. 

According to details, approval was given in the meeting of the federal cabinet through circulation summary. Circulation summary was sent to the Cabinet by the Economic Division.

Under the agreement, Saudi Arabia will lend Pakistan monthly fuel of 100 million dollars. Initially, the contract is for one year, which can be extended later.

The Ministry of Finance, SBP and FBR agreed on the draft of the Pak-Saudi agreement.

Deferred payments were promised during Prime Minister Imran Khan’s visit to Saudi Arabia.

The Saudi Crown Prince had promised to provide fuel to Pakistan on deferred payment for one year. Under the agreement, the government of Pakistan will have to pay 3.80% margin along with the payment of fuel.

 

Siddra Sumreen

Syeda Siddra has been working as a web journalist for over the past seven years. She earned her M.Phil degree in Mass Communication from the Lahore Leads University. Ms. Siddra has previously worked with other renowned channels and is now associated with GNN as Senior Content Writer.

Regional

Govt to control Inflation before 2023: FM Qureshi

Global economy has also been in crisis for the past two years due to coronavirus, says minister

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Govt to control Inflation before 2023: FM Qureshi

Multan: Foreign Minister (FM) Shah Mahmood Qureshi on Sunday said that inflation was a temporary phenomenon and Pakistan Tehreek-e-Insaf (PTI) government would control it before 2023.

He expressed these views while addressing a function at Government Primary School Awanpura Middle School Upgradation and talking to people during his visit to different Union Councils of his constituency NA-156.

He said that the government is not indifferent to people and well aware their hardships. He observed that government was striving hard to address public problems, saying that the global economy has also been in crisis for the past two years due to coronavirus. He however maintained that difficulties were temporary.

“We love dear homeland and would continue to live in the country. We know how to be loyal to the country. We have no flats, no accounts abroad and no one has a plan to go abroad. We are among the people and will remain with them,” FM Qureshi maintained. 

The foreign minister hoped that problems of masses would end soon. “We are fighting crises with determination. No matter how much the Opposition marches, there will be no in house change or end to the government. The opposition will face defeat. The democratic government of PTI will complete its term”, remarked FM Qureshi.

He expressed satisfaction and hinted that PTI government’s intentions were positive. “The present government has a credit for not having any corruption scandal”.

Expressing the challenges, Qureshi observed that the problems were much more, compared to available resources which could not be resolved overnight. “We understand the problems and concerns of the people and trying to resolve the issues”, he added.

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World

Mali ex-president Keita dies two years after coup ouster

Mali’s interim government issued a statement hailing the memory of the illustrious Keita

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Mali ex-president Keita dies two years after coup ouster

Bamako: Mali’s former president Ibrahim Boubacar Keita, who led the West African country from 2013 until he was ousted in a coup in 2020, died at the age of 76 in the capital Bamako on Sunday, his family said.

Looming over most of Keita’s presidency was the militant insurgency that has rocked the poor Sahel country since 2012, while his toppling marked the rise of the military junta which is now under regional sanctions for failing to restore civilian rule.

Mali’s interim government issued a statement hailing “the memory of the illustrious” Keita, adding that the former president died “after a long illness”.

Keita was forced out of office on August 18, 2020, by young military officers who staged an uprising at a base near Bamako before heading into the city, where they seized Keita and other leaders.

Foreign Minister Abdoulaye Diop said he was “saddened to learn of the death of former President Ibrahim Boubacar Keita”, adding that “it is with great emotion that I bow before his memory”.

Macky Sall, president of neighbouring Senegal, said in a Tweet he was “saddened” by the news, while Niger’s ex-president Mahamadou Issoufou, a former comrade of Keita’s in the Socialist International, hailed him as “a cultured man, a great patriot and a pan-Africanist”.

Politicians and other public figures went to Keita’s home southwest of Bamako to offer their condolences, with police guarding the entrances, according to AFP journalists at the scene.

The government statement said funeral plans would be announced at a later date.

– Protests, coups –

In the weeks before the 2020 coup, Keita had been struggling with protests fuelled by his handling of the jihadist insurgency and failure to turn around Mali’s floundering economy.

Snail-paced political reforms, decrepit public services and schools, and a widely shared perception of government corruption also fed anti-Keita sentiment, driving tens of thousands of protesters into the streets.

Seized by the putschists, the junta that emerged from the rebellion — under pressure from the West African bloc ECOWAS — released Keita weeks later and returned him to his residence in Bamako, under surveillance.

He suffered a mini-stroke the following month and was sent to the United Arab Emirates for treatment. He had been based at his Bamako home since staying out of public life.

The ruling junta would stage another coup in May 2021, toppling a civilian transitional government.

The junta had vowed to hold elections next month to transition the country back to civilian rule. But at the end of the last year, the junta revised its timetable, saying it could stay in power for up to five years.

In response, ECOWAS agreed to sanction Mali earlier this month, imposing a trade embargo and shutting borders, in a decision backed by the United States, the European Union and former colonial power France.

Landlocked Mali, one of the world’s poorest countries, is already feeling the effects of the sanctions, prompting thousands to protest in Bamako on Friday.

– Political veteran –

The son of a civil servant, Keita was born in the southern industrial city of Koutiala, the declining heartland of cotton production.

After studying literature in Mali, Senegal and France, Keita became an adviser for the EU’s overseas development fund before heading a development project in northern Mali.

He then rose through the ranks under Alpha Oumar Konare, the country’s first democratically elected president.

As a socialist prime minister between 1994 and 2000, he quelled a series of crippling strikes, earning a reputation as a firm leader and helping to set up his landslide election in 2013.

Keita was then re-elected in the 2018 elections, beating opposition leader Soumaila Cisse, who died in December 2020 of Covid.

Cisse’s kidnapping by jihadists in March 2020 further illustrated Keita’s inability to stop the violence, with rising public outrage culminating in the coup months later.

Source: AFP

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Regional

PML-N asks for ‘deal’ for four people: Shahbaz Gill

Special assistant claims Shehbaz Sharif will soon find himself behind the bars

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PML-N asks for ‘deal’ for four people: Shahbaz Gill

Faisalabad: Special Assistant to PM on Political Communication Shahbaz Gill on Sunday claimed that Opposition Leader in National Assembly and former chief minister Shehbaz Sharif has asked for a deal for four people.

Addressing a press conference in Faisalabad on Sunday, Shahbaz Gill said that the PMLN was demanding that Shehbaz Sharif, his son Hamza Shehbaz Sharif, and Maryam Nawaz be allowed to leave the country. The fourth person, according to Gill, is Nawaz Sharif who is already in London.

Shahbaz Gill also said that the PMLN wants former premier Shahid Khaqan Abbasi to stay in Pakistan and lead the PMLN politics. He said that the government would not give a deal to the Sharifs.

He compared the Sharifs’ demand for a deal with deals served at restaurants. “You are confronted by Imran Khan. We won’t allow you a boiled potato or a corncob and you are asking for a chicken piece. You won’t get a deal … You can only curse and get cursed.”

Shahbaz Gill also said that the law would take its due course and Shehbaz Sharif will soon find himself behind the bars. He said Nawaz Sharif will land in jail when he return to Pakistan.

On the other hand, Minister for Information Fawad Chaudhry in a separate media briefing also spoke about the Sharif family, claiming that there is a "race" underway among four leading members.

"When the four big leaders went to meet 'someone', they said that 'Nawaz Sharif did not do right by the country, why don't you consider us?'," the minister claimed further.

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