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Saudi Crown Prince wins hearts in Pakistan

News Network
February 19, 2019

Feb 19: Dubai The historic two-day official visit of Saudi Crown Prince Mohammad Bin Salman concluded with a strong message about the ‘bright future of Pakistan.

“Crown Prince Mohammad Bin Salman won the hearts of the people of Pakistan when he said “consider me Pakistan’s ambassador to Saudi Arabia” in response to my asking him to treat the 2.5 mn Pakistani’s working in KSA as his own,” Prime Minister Imran Khan summed up his feelings in his tweet.

Crown Prince Mohammad was seen off on Monday by Premier Imran and Pakistan Army Chief General Qamar Javed Bajwa at the Nur Khan Airbase. But before leaving, they held a candid but important press conference.

Imran thanked the Crown Prince for his visit hoping that he would stay longer next time “so I can show you the beauty of Pakistan and the northern areas.” He also thanked Prince Mohammad for his announcement of releasing more than 2,000 Pakistani prisoners from Saudi jails with immediate effect. “I want to thank you on behalf of the people of Pakistan” for announcing the release of Pakistani prisoners,” he said. He also thanked the crown prince for the agreements worth $20 billion that were signed on the first day of his visit in Islamabad.

We believe in Pakistan’s future and that it has a huge opportunity. In 2030, Pakistan will be next to two huge economies.

- Mohammad Bin Salman

“I woke up this morning and when I looked at my mobile phone, I realised ─ after your statement last night saying that you would be Pakistan’s ambassador in Saudi Arabia ─ that if you stand in elections here, you would get more votes than me,” Imran said on a lighter note, addressing the Crown Prince who was standing at a podium to his right. “You are extremely popular,” he added.

Crown Prince Mohammad told the press conference: “We believe in Pakistan’s future and that it has a huge opportunity. In 2030, Pakistan will be next to two huge economies. One, China will be the largest economy in 2030, and two, India will be the third-largest economy so Pakistan will definitely benefit from these neighbours,” he said.

Huge Potential

“We saw the Pakistani economy grow by 5 per cent in 2018 so we believe that Pakistan has huge potential, it could be one of top 20 economies in the future,” he reiterated.

“If the efforts of the leadership, the people of Pakistan, and their allies come together, definitely it can reach that one day,” he added.

Saudi Arabia has always been a 'friend in need' to Pakistan. For Pakistanis, this is a great day.

- Imran Khan

“So because of that, we believe in Pakistan and we want to be part of that journey and we want to risk our money, risk our efforts, to start from day one,” he explained.

“What we did today, it’s the beginning and we hope in the close future we do more and more partnering with Pakistan,” he said.

Pakistan is a very important country

After receiving a very warm welcome upon his arrival in Islamabad on Sunday, Crown Prince Mohammad engaged in various activities lined up for the day.

Speaking at the official reception at the Prime Minister’s House in Islamabad, Prince Mohammad said Pakistan will be a very, very important country in the future and that his country had been waiting for a leadership like that of Prime Minister Imran Khan to partner with Islamabad in various areas.

“Whatever we did was the beginning and I hope in the near future we do more,” he said.

That was evident in Saudi Arabia’s announcement of a whopping $20 billion investment to help Pakistan tide over its economic problems.

The credit for that change goes to Pakistan Prime Minister Imran Khan, who unlike his predecessors, sought investment instead of charity. The Saudi investment is not a charity as it will benefit both the countries.

The investment will be mainly in minerals, tourism, petrochemicals, agriculture, food processing and other key sectors.

The crown prince said Pakistan is a “dear country” to all Saudis and that the two countries “have walked together in tough and good times”.

Prime Minister Imran in his speech welcomed the Saudi crown prince and his delegation to the country, saying the Kingdom has always been a “friend in need” to Pakistan.

“For Pakistanis, this is a great day,” he said, adding that Saudi Arabia had always been there when Pakistan needed friends.

Imran said Pakistan and Saudi Arabia were now taking their relationship to a new level, where investment agreements would be mutually beneficial for the countries.

Khan told the Crown Prince that if it hadn’t been for security concerns, “you would have seen thousands and thousands of people on the streets welcoming you.”

Imran’s request

He requested the Crown Prince to allow Pakistani Haj pilgrims to complete immigration at the three major Pakistani airports before leaving for Saudi Arabia for their convenience.

Prime Minister Imran requested the Saudi authorities to look into the hardships of Pakistani labourers working in the Kingdom.

In response, the Crown Prince told Prime Minister Khan he could consider him the ambassador of Pakistan in Saudi Arabia.

“We cannot say no to Pakistan ... whatever we can do, we will deliver that,” he said.

Saudi Pakistan Supreme Council

Bilateral ties also received a significant boost with the launch of the Saudi-Pakistan Supreme Coordination Council. Chaired by Imran and Prince Mohammad, the council is a high-level institutional mechanism to fast-track decisions in critical aspects of cooperation, and to monitor its implementation in three key areas: political and security, economic, social and culture.

Seven MoUs signed

Seven Memoranda of Understanding were signed at a ceremony witnessed by Crown Prince Mohammad and Prime Minister Imran at the Prime Minister’s House,

The agreements signed include:

Technical cooperation programme between the Saudi Standards, Metrology And Quality Organisation (SASO) and Pakistan Standards and Quality Control Authority (PSQCA).

Cooperation agreement between Saudi and Pakistani governments in the field of sports.

Financing agreement for the import of Saudi goods between the Saudi Fund for Development and Pakistan.

Framework MoU regarding Saudi funds’ participation in the financing of power generation projects between the Saudi Fund for Development and Pakistan.

MoU between the governments of Saudi Arabia and Pakistan to explore investment opportunities in refining and petrochemical sectors.

MoU between the governments of Saudi Arabia and Pakistan in the field of mineral resource sector.

MoU between the government of Saudi Arabia and Pakistan on the development of renewable energy projects.

Prime Minister Khan also held a one-on-one meeting with the Saudi crown prince at PM House. It was followed by the inaugural session of the Saudi-Pak This is not charity

In response to the Saudi investment of $20 billion in different projects in Pakistan, , Saudi State Minister for Foreign Affairs Adel Al Jubeir said on Monday: “This is not charity, but investment for the benefit of the two countries.”

“We are developing a roadmap with set targets ahead in areas including counter-terrorism, economy, people-to-people contacts and culture to further deepen our relations,” the Saudi Minister said in a joint press conference with Pakistani Foreign Minister Shah Mehmood Qureshi.

Working Groups

Foreign Minister Qureshi said 10 joint working groups had been formed under the Saudi-Pak Supreme Coordination Council, which would meet every three months. He said the Council would coordinate in areas including security, defence, intelligence sharing and energy and the leadership would oversee the implementation of projects.

What analysts say

Senior officials and analysts praised the visit. They said it presents a “historic opportunity” to expand collaboration in all sectors.

Dr. Huma Baqai, expert on International Relations, said the high-profile visit is manifestation of the strength of the relationship and it would go a long way in building strategic and economic relations that have been the hallmark of two brotherly countries.

Economist Mirza Ikhtiar Baig said Pakistan is facing several economic challenges and Saudi investment in development projects in the country would send across a positive message to the world about Pakistan.

Saudi Arabia was investing in long-term projects, which showed that Middle East countries have sighted Pakistan to be a developed country in the near future, he said.

The economist said the main focus of Pakistan is to strengthen trade, agriculture, tourism and other relations with Saudi Arabia. Riyadh is interested to establish an oil refinery in Gwadar.

Former Foreign Secretary Najam-ud-Din Sheikh said the Saudi relationship with Pakistan is considered to be exemplary and exceptional. He said Pakistan supported Saudi’s role and provided all out assistance to the Kingdom at political, military and diplomatic levels. Former Ambassador Fauzia Nasreen also praised the visit. She said heavy investment in development projects would be a message to the world that Pakistan is a haven for foreign investors.

Prisoner release

Prince Mohammad Bin Salman ordered the immediate release of 2107 Pakistani prisoners from jails in Saudi Arabia. Pakistan Federal Minister for Information and Broadcasting Chaudhry Fawad Hussain said Crown Prince Salman ordered the release of prisoners following a request from Prime Minister Imran Khan. He said cases of other Pakistani prisoners would also be reviewed.

The minister tweeted: “As a sequel to Prime Minister of Pakistan request, His Royal Highness the Crown Prince of Kingdom of Saudi Arabia Mohammad Bin Salman has ordered the immediate release of 2107 Pakistani prisoners from Saudi jails. Saudi Crown Prince arrived in Islamabad on a two-day official visit on Sunday.

Oil refinery

The biggest Saudi investment will be to set up an oil refinery in port city Gwadar. The oil refinery and petrochemical complex with an investment of around $11 billion would open new energy vistas in Pakistan. The Minister for Petroleum Ghulam Sarwar Khan signed Memoranda of Understanding (MoUs) with his Saudi counterpart to set up a $10 billion oil refinery, $ 1 billion petrochemical complex, installation of two Re-gassified Liquefied Petroleum Gas (RLNG) plants at an estimated cost of $4 billion and $2 billion investment in mineral development sector, an official source told APP.

“The petrochemical complex and refinery will help bring down the country’s oil import bill by $ 1.2 billion annually,” he said, adding Pakistan’s annual oil consumption was around 26 million tons (MT), out of which 13.5 MT was met through local production of eight existing oil refineries. “Around 50 per cent crude oil is imported to meet energy needs.”

Highest Civil Award for Crown Prince

President Dr Arif Alvi conferred the Pakistan’s highest civil award “Nishan-e-Pakistan” on Saudi Crown Prince Mohammed Bin Salman during a ceremony at the Aiwan-e-Sad in Islamabad.

The ceremony was attended by Prime Minister Imran Khan, federal ministers, three Services Chiefs, Chairman Joint Chiefs of the Staff Committee, members of the Saudi delegation and senior civil and military officials.

The country’s highest civil award was conferred on the Saudi Crown Prince in recognition of his efforts and contributions towards enhancing bilateral brotherly and traditional ties between the two countries.

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News Network
April 11,2024

vietnamfraud.jpg

Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh city in southern Vietnam in the country's largest financial fraud case ever, state media Thanh Nien said.

It's a rare verdict - she is one of very few women in Vietnam to be sentenced to death for a white collar crime, i.e. looting one of the country's largest banks over a period of 11 years.

The decision is a reflection of the dizzying scale of the fraud. Truong My Lan was convicted of taking out $44bn (£35bn) in loans from the Saigon Commercial Bank. The verdict requires her to return $27bn, a sum prosecutors said may never be recovered. Some believe the death penalty is the court's way of trying to encourage her to return some of the missing billions.

The habitually secretive communist authorities were uncharacteristically forthright about this case, going into minute detail for the media. They said 2,700 people were summoned to testify, while 10 state prosecutors and around 200 lawyers were involved.

The evidence was in 104 boxes weighing a total of six tonnes. Eighty-five defendants were tried with Truong My Lan, who denied the charges.

"There has never been a show trial like this, I think, in the communist era," says David Brown, a retired US state department official with long experience in Vietnam. "There has certainly been nothing on this scale."

The trial was the most dramatic chapter so far in the "Blazing Furnaces" anti-corruption campaign led by the Communist Party Secretary-General, Nguyen Phu Trong.

A conservative ideologue steeped in Marxist theory, Nguyen Phu Trong believes that popular anger over untamed corruption poses an existential threat to the Communist Party's monopoly on power. He began the campaign in earnest in 2016 after out-manoeuvring the then pro-business prime minister to retain the top job in the party.

 The campaign has seen two presidents and two deputy prime ministers forced to resign, and hundreds of officials disciplined or jailed. Now one of the country's richest women has joined their ranks.

Truong My Lan comes from a Sino-Vietnamese family in Ho Chi Minh City, formerly Saigon. It has long been the commercial engine of the Vietnamese economy, dating well back to its days as the anti-communist capital of South Vietnam, with a large, ethnic Chinese community.

She started as a market stall vendor, selling cosmetics with her mother, but began buying land and property after the Communist Party ushered in a period of economic reform, known as Doi Moi, in 1986. By the 1990s, she owned a large portfolio of hotels and restaurants.

Although Vietnam is best known outside the country for its fast-growing manufacturing sector, as an alternative supply chain to China, most wealthy Vietnamese made their money developing and speculating in property.

All land is officially state-owned. Getting access to it often relies on personal relationships with state officials. Corruption escalated as the economy grew, and became endemic.

By 2011, Truong My Lan was a well-known business figure in Ho Chi Minh City, and she was allowed to arrange the merger of three smaller, cash-strapped banks into a larger entity: Saigon Commercial Bank.

Vietnamese law prohibits any individual from holding more than 5% of the shares in any bank. But prosecutors say that through hundreds of shell companies and people acting as her proxies, Truong My Lan actually owned more than 90% of Saigon Commercial.

They accused her of using that power to appoint her own people as managers, and then ordering them to approve hundreds of loans to the network of shell companies she controlled.

The amounts taken out are staggering. Her loans made up 93% of all the bank's lending.

According to prosecutors, over a period of three years from February 2019, she ordered her driver to withdraw 108 trillion Vietnamese dong, more than $4bn (£2.3bn) in cash from the bank, and store it in her basement.

That much cash, even if all of it was in Vietnam's largest denomination banknotes, would weigh two tonnes.

She was also accused of bribing generously to ensure her loans were never scrutinised. One of those who was tried used to be a chief inspector at the central bank, who was accused of accepting a $5m bribe.

The mass of officially sanctioned publicity about the case channelled public anger over corruption against Truong My Lan, whose fatigued, unmade-up appearance in court was in stark contrast to the glamorous publicity photos people had seen of her in the past.

But questions are also being asked about why she was able to keep on with the alleged fraud for so long.

"I am puzzled," says Le Hong Hiep who runs the Vietnam Studies Programme at the ISEAS - Yusof Ishak Institute in Singapore.

"Because it wasn't a secret. It was well known in the market that Truong My Lan and her Van Thinh Phat group were using SCB as their own piggy bank to fund the mass acquisition of real estate in the most prime locations.

"It was obvious that she had to get the money from somewhere. But then it is such a common practice. SCB is not the only bank that is used like this. So perhaps the government lost sight because there are so many similar cases in the market."

David Brown believes she was protected by powerful figures who have dominated business and politics in Ho Chi Minh City for decades. And he sees a bigger factor in play in the way this trial is being run: a bid to reassert the authority of the Communist Party over the free-wheeling business culture of the south.

"What Nguyen Phu Trong and his allies in the party are trying to do is to regain control of Saigon, or at least stop it from slipping away.

"Up until 2016 the party in Hanoi pretty much let this Sino-Vietnamese mafia run the place. They would make all the right noises that local communist leaders are supposed to make, but at the same time they were milking the city for a substantial cut of the money that was being made down there."

At 79 years old, party chief Nguyen Phu Trong is in shaky health, and will almost certainly have to retire at the next Communist Party Congress in 2026, when new leaders will be chosen.

He has been one of the longest-serving and most consequential secretary-generals, restoring the authority of the party's conservative wing to a level not seen since the reforms of the 1980s. He clearly does not want to risk permitting enough openness to undermine the party's hold on political power.

But he is trapped in a contradiction. Under his leadership the party has set an ambitious goal of reaching rich country status by 2045, with a technology and knowledge-based economy. This is what is driving the ever-closer partnership with the United States.

Yet faster growth in Vietnam almost inevitably means more corruption. Fight corruption too much, and you risk extinguishing a lot of economic activity. Already there are complaints that bureaucracy has slowed down, as officials shy away from decisions which might implicate them in a corruption case.

"That's the paradox," says Le Hong Hiep. "Their growth model has been reliant on corrupt practices for so long. Corruption has been the grease that that kept the machinery working. If they stop the grease, things may not work any more."

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News Network
April 13,2024

Mangaluru, Apr 13: Prime Minister Narendra Modi is all set to campaign for the upcoming and much awaited Lok Sabha election in coastal Karnataka by holding a mega roadshow in Mangaluru. 

Meanwhile, the organisers have announced a slight delay in the commencement of Modi's scheduled roadshow on April 14 in Mangaluru.

Addressing the media BJP principal secretary and Karnataka MLA V Sunil Kumar said: Originally the roadshow was scheduled to begin at 5 pm., but it will start at 7:30 pm."

As planned, the Roadshow will kick off from Narayan Guru Circle, where Prime Minister Modi will pay floral tribute to Sri Narayan Guru idol. From there, the Roadshow will proceed and conclude at Navabharat Circle. 

Mr Kumar urged people traveling to Mangaluru to see Mr Modi's visit by 7 p.m. and stand behind the barricades. The roadshow is estimated to conclude at 8:30 pm.

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News Network
April 14,2024

indiancanda.jpg

New Delhi: A 24-year-old student from India was shot dead inside a car in Canada's South Vancouver, the local police have said. The Vancouver Police in a statement said Chirag Antil, 24, was found dead inside a vehicle in the area after neighbours reported hearing gunshots.

"Officers were called to East 55th Avenue and Main Street around 11 pm on April 12 after residents heard the sound of gunshots. Chirag Antil, 24, was found deceased inside a vehicle in the area. No arrests have been made, and the investigation remains ongoing," the police said.

Chirag Antil's brother Ronit told reporters that Chirag seemed happy when they spoke on the phone in morning. Chirag later took out his Audi to go somewhere. That was when he was shot dead.

The Congress students' wing National Students' Union of India chief Varun Choudhary in a post on X tagging the Ministry of External Affairs requested for assistance to the student's family.

"Urgent attention regarding the murder of Chirag Antil, an Indian student in Vancouver, Canada. We urge the Ministry of External Affairs to closely monitor the progress of the investigation and ensure that justice is swiftly served," Mr Choudhary said.

"Additionally, we request the ministry to extend all necessary support and assistance to the family of the deceased during this difficult time," he said.

Chirag Antil's family is raising money through the crowdfunding platform GoFundMe to repatriate his body to India, local media reported.

Haryana resident Romit Antil, the brother of Chirag Antil, told CityNews that he was a kind-hearted person.

"My brother and I had a great relationship. We used to talk every day, day and night. I spoke to him last before the accident happened. He was kind of happy, he never had any issues or fights with anyone, ever. He was an extremely polite person," Romit Antil told CityNews.

Chirag Antil came to Vancouver in September 2022. He just finished MBA at University Canada West, and recently got his work permit.

Here are 5 facts about Chirag Antil

1.    Chirag Antil was a resident of Sonipat, Haryana.
2.    He was the youngest son of Mahavir Antil, a retired employee of the Sugar Mill Department of the Haryana Government.
3.    Chirag moved to Vancouver in 2022 to pursue higher studies at the University Canada West (UCW), in British Columbia.
4.    After completing his MBA, he started working at a company in Canada after getting a work permit.
5.    Chirag's brother Ronit shared in an interview that his younger sibling was a "kind-hearted" person. "I spoke to him last before the accident happened," he said and added that Chirag sounded "happy".

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