Tri-nation ODI cricket series kicks off tomorrow at renovated Pakistan stadiums

ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar on Wednesday spoke to his counterpart in the United Arab Emirates (UAE), Sheikh Abdullah bin Zayed Al Nahyan, and expressed concern about a proposal by US President Donald Trump to displace Palestinians from Gaza, the foreign office in Islamabad said.

Trump has recently announced plans to resettle Gaza’s Palestinian residents and redevelop the enclave and said they should not have the right to return. Under Trump’s scheme, Gaza’s about 2.2 million Palestinians would be resettled and the United States would take control and ownership of the coastal territory, redeveloping it into the “Riviera of the Middle East.” Palestinians fear that Trump’s plan would enforce another Nakba, or Catastrophe, when they experienced mass expulsions in 1948 with the creation of Israel.

“The two leaders discussed the grave humanitarian situation in Gaza and expressed concerns at the proposal to displace or relocate the Palestinian people from their ancestral homeland,” the foreign office said after Dar’s call with his UAE counterpart.

The Pakistani deputy PM reiterated Pakistan’s “unwavering” support for Palestinian rights, and the foreign office said both leaders agreed to stay in close contact to achieve a “just, comprehensive, and lasting solution to the Palestinian issue.”

Israel began its latest assault on Gaza after a Hamas-led attack on Israel on October 7, 2023, that killed about 1,200 people, while some 250 were taken hostage, according to Israeli tallies.

More than 48,000 Palestinians have been killed in Israeli air and ground operations since, Gaza health authorities say, and much of the enclave has been obliterated. 

The Gaza war has been paused since Jan. 19 under the ceasefire agreement between Israel and Hamas that was brokered by Qatar and Egypt with support from the United States.

Palestinian territories – encompassing the Gaza Strip and West Bank, including East Jerusalem – have been occupied by Israel since 1967.

Pakistan does not recognize Israel and has consistently called for an independent Palestinian state based on “internationally agreed parameters.”

ISLAMABAD: Pakistan has signed a financial advisory agreement with a consortium led by Dubai-based Alvarez & Marsal Middle East Limited to help privatize three major power distribution companies (DISCOs), the Privatization Commission said on Tuesday.

The agreement is part of the government’s broader privatization drive to reform the power sector that has been plagued by circular debt, operational inefficiencies and power theft.

The government has been working to divest state-run power companies as part of its wider economic reform agenda, recommended under its $7 billion loan program with the International Monetary Fund.

“This strategic initiative aligns with the government’s commitment to improving efficiency, reducing losses and ensuring long-term sustainability in the power distribution sector,” the Privatization Commission said in a statement.

Alvarez & Marsal Middle East Limited, a professional services firm specializing in business performance improvement and turnaround management, will provide financial advisory services for the privatization of Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO).

It will conduct due diligence, market analysis, investor outreach and transaction structuring to facilitate private sector participation in the bidding process.

Pakistan has long struggled with power sector challenges, with state-run distribution companies suffering massive financial losses due to inefficiencies, revenue shortfalls and delays in tariff adjustments.

The signing ceremony was attended by senior officials from the Privatization Commission and representatives of the A&M-led consortium.