Pakistan receives $3bn in funds from Saudi Arabia

The State Bank of Pakistan on Saturday received a much-awaited $3 billion deposit from Saudi Fund for Development.

Taking to official Twitter handle, Adviser to Prime Minister on Finance and Revenue Shaukat Tarin announced: “Good news, $3 billion Saudi deposit received by SBP.”

The PM's aide acknowledged the support provided by Saudi Arabia and wrote: “I want to thank Crown Prince Mohammed Bin Salman and Kingdom of Saudi Arabia for the kind gesture.”
On November 29, the central bank of Pakistan and the Saudi Fund for Development signed a deposit agreement for funds worth $3 billion.

According to a joint statement, under this deposit agreement, SFD shall park $3 billion in the SBP. “The deposit amount under the agreement shall become part of SBP’s foreign exchange reserves,” it had said.

The central bank had stated that the deposit would help support Pakistan’s foreign currency reserves and “contribute towards resolving the adverse effects of the COVID-19 pandemic.”

The deposit agreement was signed by SFD Chief Executive Officer H E Sultan Bin AbdulRahman Al-Marshad and the SBP Governor Dr Reza Baqir at the State Bank of Pakistan in Karachi.

On October 27, the Saudi Fund for Development agreed to deposit $3 billion in the SBP to help support its foreign reserves.

The fund had stated that an official directive was issued to supply $1.2 billion to finance Pakistan’s oil products trade during the year.

According to the central bank, Pakistan’s total liquid foreign reserves stood at $22.498.8 billion on November 26, 2021. The break-up of the figures shows that foreign reserves held by the SBP were standing at $16.010.3 billion and net foreign reserves held by commercial banks were standing at $6.488.5 billion.

During the week ended on November 26, 2021, the SBP's reserves decreased by $244 million or 1.5%.

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Initial report of Sialkot lynching incident sent to PM Imran

The concerned authorities on Saturday have forwarded an initial report on the incident pertaining to the killing of Sri Lankan manager Priyantha Kumara in Sialkot to Prime Minister (PM) Imran Khan and Chief Minister of Punjab (CM) Usman Buzdar.

According to the report, the incident was reported to the police at 11:26 am. A sticker regarding religion was placed on a machine in factory which, the manager directed to remove in the wake of foreigners’ visit, the report stated.

Allegedly, the workers didn’t act on the order due to which, the manager came forward and remove it by himself. The factory owners and administration fled the scene after lynching the Sri Lankan manager, the report mentioned.

On the other hand, the postmortem report of Priyantha Kumara showed that most of his body was burnt while his bones were also broken due to severe torture.

Earlier in the day, the security personnel arrested second prime suspect who incited the mob to torture Sri Lankan manager to death in Sialkot over alleged blasphemy.

Suspect Talha was shifted to some unknown place for interrogation. So far, police officers arrested over 100 people with the help of CCTV for killing the manager.

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Initial report of Sialkot lynching incident sent to PM Imran

The concerned authorities on Saturday have forwarded an initial report on the incident pertaining to the killing of Sri Lankan manager Priyantha Kumara in Sialkot to Prime Minister (PM) Imran Khan and Chief Minister of Punjab (CM) Usman Buzdar.

According to the report, the incident was reported to the police at 11:26 am. A sticker regarding religion was placed on a machine in factory which, the manager directed to remove in the wake of foreigners’ visit, the report stated.

Allegedly, the workers didn’t act on the order due to which, the manager came forward and remove it by himself. The factory owners and administration fled the scene after lynching the Sri Lankan manager, the report mentioned.

On the other hand, the postmortem report of Priyantha Kumara showed that most of his body was burnt while his bones were also broken due to severe torture.

Earlier in the day, the security personnel arrested second prime suspect who incited the mob to torture Sri Lankan manager to death in Sialkot over alleged blasphemy.

Suspect Talha was shifted to some unknown place for interrogation. So far, police officers arrested over 100 people with the help of CCTV for killing the manager.

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Sialakot incident: Information Minister slams apathy towards mob violence

While condemning the Sialkot incident that shook the nation, Federal Minister of Information Fawad Chaudhry Saturday said that "time bombs that we planted in society will continue to explode if not defused".

In a series of tweets on Saturday, Fawad slammed the apathy towards such incidents and warned that it will lead to a bigger tragedy.
"I've been thinking what to write to condemn the Sialkot incident since yesterday, words have become useless. Such incidents only affect us for 48 hours, after which everything returns to normal.

"Until the next such incident occurs, our conscience remains buried; this apathy is an indication of a bigger storm. Blood has been spilled in the countries due to people's dead conscience," he remarked.

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Sialakot incident: Information Minister slams apathy towards mob violence

While condemning the Sialkot incident that shook the nation, Federal Minister of Information Fawad Chaudhry Saturday said that "time bombs that we planted in society will continue to explode if not defused".

In a series of tweets on Saturday, Fawad slammed the apathy towards such incidents and warned that it will lead to a bigger tragedy.
"I've been thinking what to write to condemn the Sialkot incident since yesterday, words have become useless. Such incidents only affect us for 48 hours, after which everything returns to normal.

"Until the next such incident occurs, our conscience remains buried; this apathy is an indication of a bigger storm. Blood has been spilled in the countries due to people's dead conscience," he remarked.

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Islamabad court grants two-day transit remand for Agha Siraj Durrani

Accountability court on Saturday has approved two-day transit remand of Sindh Assembly Speaker Agha Siraj Durrani in assets beyond income case.

According to details, the Pakistan Peoples Party (PPP) leader was produced before the National Accountability Bureau (NAB) court.

On December 3, 2021, NAB had arrested Agha Siraj Durrani from the premises of Supreme Court (SC) and shifted him to NAB Rawalpindi office where he underwent medical checkup.

A three-member bench headed by Justice Umar Ata Bandial heard the matter and directed the speaker to surrender before the NAB and face the proceedings.

Durrani’s lawyer requested the court to grant his client bail so that he can surrender before the relevant trial court.

SC rejected the plea and directed him to first comply with the order of the Sindh High Court (SHC) and surrender before NAB, after which his case would be heard next week

“We have to proceed with the case as per the law,” Justice Bandial stated.

The court later adjourned the case till next week.

Earlier, NAB officers had raided the residence of the speaker following rejection of his bail from SHC but they failed to arrest him due to resistance from his guard.

It is pertinent to mention that the NAB had approved an inquiry against Durrani and others over various allegations of corruption in July, 2018. The speaker has been alleged of accumulating assets worth Rs1.6 billion through illegal sources.

NAB said the assets of Agha Siraj Durrani were valued at Rs479.4 million but he showed them to be worth Rs151.6 million.

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Islamabad court grants two-day transit remand for Agha Siraj Durrani

Accountability court on Saturday has approved two-day transit remand of Sindh Assembly Speaker Agha Siraj Durrani in assets beyond income case.

According to details, the Pakistan Peoples Party (PPP) leader was produced before the National Accountability Bureau (NAB) court.

On December 3, 2021, NAB had arrested Agha Siraj Durrani from the premises of Supreme Court (SC) and shifted him to NAB Rawalpindi office where he underwent medical checkup.

A three-member bench headed by Justice Umar Ata Bandial heard the matter and directed the speaker to surrender before the NAB and face the proceedings.

Durrani’s lawyer requested the court to grant his client bail so that he can surrender before the relevant trial court.

SC rejected the plea and directed him to first comply with the order of the Sindh High Court (SHC) and surrender before NAB, after which his case would be heard next week

“We have to proceed with the case as per the law,” Justice Bandial stated.

The court later adjourned the case till next week.

Earlier, NAB officers had raided the residence of the speaker following rejection of his bail from SHC but they failed to arrest him due to resistance from his guard.

It is pertinent to mention that the NAB had approved an inquiry against Durrani and others over various allegations of corruption in July, 2018. The speaker has been alleged of accumulating assets worth Rs1.6 billion through illegal sources.

NAB said the assets of Agha Siraj Durrani were valued at Rs479.4 million but he showed them to be worth Rs151.6 million.

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