Interview by S. A. Chaudhry and Ali Hussain The Economic Affairs: The Organization of Islamic Cooperation (OIC) is the largest inter-governmental organization after the United Nations. Since its establishment in 1969, the OIC has played an important role to advocate the Islamic cause around the world. How do you assess the historic role of the Organization? Ambassador of the Kingdom of Saudi Arabia H.E. Nawaf Saeed Al Malkiy: The OIC is the second largest intergovernmental organization after the United Nations, with 57 member states and covering four continents. It is the collective voice of the Muslim world to ensure and protect their interests in the economic, social and political spheres. In addition, it has institution...
March 22, 2022 at 9:53 am | Economic Affairs
Interview by S. A. Chaudhry and Ali Hussain The Economic Affairs: The OIC is the largest intergovernmental organization after the UN. Since its establishment in 1969, the OIC has played an important role to advocate Islamic causes around the world. How do you assess this historic role of the Organization? H.E. Mustafa Yurdakul, Turkish Ambassador: The OIC was established in the aftermath of the arson of the Al-Aqsa Mosque, which is the third holy shrine of Muslims located in Al-Quds. Liberation of Palestine and Al-Quds has been the main cause of the organization. However, OIC's reason for being is not limited to this cause. Strengthening the bond of unity and solidarity among member states, uplifting Islamic values, protecting ...
March 22, 2022 at 9:44 am | Economic Affairs
Interview by S. A. Chaudhry and Ali Hussain The Economic Affairs: The OIC is the largest intergovernmental organization after the UN. Since its establishment in 1969, the OIC has played an important role to advocate Islamic cause around the world. How do you assess this historic role of the Organization? High Commissioner of Nigeria H.E. Mohammed Bello Abioye: The Organization of Islamic Cooperation is an International Organization founded in Rabat, Morocco in 1969. It consists of 57 member states, with collective population of over 1.8 billion. Today, the OIC is the second largest intergovernmental organization after the UN and the historic role of the organization has been well established in the areas of preserving Islamic, ...
March 22, 2022 at 9:39 am | Economic Affairs
By Dr. Hassan Daud Butt Govt is especially focusing on development of integrated tourism zones and infrastructure, particularly roads connectivity, motorways and highways to augment sector. Tourism is an organized, regular and multidimensional business activity, which has grown to the level of industry of worldwide importance. Tourism activities contribute towards economic growth and are internationally regarded as a vehicle for generating employment. Tourism has also been identified as a source of regional integration and balanced regional development that can contribute towards increased people-to-people interaction, improved trade and economic cooperation and linkages for the mutual benefit of economies. The economic be...
March 22, 2022 at 7:52 am | Economic Affairs
By Javed Hafeez Palestinian issue has been on the UN agenda for decades and remains unresolved to date. The historic land of Palestine, which has the unique distinction of being revered by the followers of three revealed religions, has been reduced to a zone of perpetual conflict. This is a great paradox of our times as these three religions had brought divine messages for love of humanity, peace and amity. Those divine messages have been violated with impunity, setting a wrong example for conduct of international relations. The Palestinian population has faced expulsion, occupation, unfulfilled pledges and dashed hopes. A large number of Palestinians continue to live in refugee camps, some of them in appalling conditions. The Pal...
March 22, 2022 at 7:41 am | Economic Affairs
By Salman Bashir At the critical and defining juncture the OIC has, once again, stepped in to lead the way for assisting, defining and influencing global opinion in favor of the Afghanistan and her people. On the joint initiative of Pakistan and Saudi Arabia, an extraordinary session of the Foreign Ministers of OIC states was held in Islamabad on 19 December 2021 to mobilize global assistance to mitigate the humanitarian crisis in Afghanistan. Besides the 57 member states, the Conference was attended by the representatives of the United Nations Secretary General, China, the U.S., the U.K., France, Russian Federation, Japan, Germany, Italy, European Union, Economic Cooperation Organization, League of Arab States, and the Gulf...
March 22, 2022 at 7:32 am | Economic Affairs
By Masood Khalid The growing assymetary in conventional strength of Pakistan & India, with Kashmir issue simmering in the backdrop, is a potential for a bigger conflict in the South Asia. Kashmir has been a source of at least three full-fledged wars between India and Pakistan and today it is a ticking bomb in nuclearized South Asia. When India and Pakistan became independent countries in 1947, there were over 500 princely states constituting the British Empire. The partition plan envisaged that the princely states will either join India or Pakistan, taking geographical, religious, cultural factors into account. By that token, Muslim majority Kashmir should have joined Pakistan. History, however, bears witness to the fact that ...
March 22, 2022 at 7:14 am | Economic Affairs
By Tehmina Janjua Causes of Islamophobia are complex and differ in various countries and regions. In the West, the roots of Islamophobia lie in an often contentious history between Christianity and Islam, which was aggravated by the colonial experience. Islamophobia is an existential issue for Muslim countries. Discrimination, hate speech and outright incitement to violence against Muslims have become entrenched and pervasive in many societies. This poses a direct threat to the Islamic identity of communities, and to the physical security and lives of Muslims. Islamophobia has become a matter of life and death for a large number of our co-religionists. The OIC has adopted a working definition of Islamophobia as a “contem...
March 22, 2022 at 7:06 am | Economic Affairs
By Zafar Mirza On economic loss, one credible estimate put the cost to the global economy at $82 trillion over five years due to the global pandemic. The devastating effect of the global pandemic due to SARS-CoV-2 on human health and national economies will be felt for decades to come. Everybody on earth has been directly or indirectly affected, close to 437 million tested positive (we would never know the real number which would run into billions) and nearly 6 million could not survive the severity of the disease and passed away. On economic loss, one credible estimate put the cost to the global economy at $82 trillion over five years. Though it can never be said with certainty but hopefully after the omicron-wave the wor...
March 22, 2022 at 6:57 am | Economic Affairs
By Naghmana A. Hashmi Detecting corruption and finding the right policy initiatives is, however, not always easy or inexpensive. There is a growing worldwide concern and increasing realization that irrespective of the cause, scope and scale of corruption. It has serious negative effects on the economic growth of a country and the protection of the basic human rights. Corruption erodes trust, weakens democracy and hampers economic development further exacerbating inequality, poverty, social division and the environmental crisis. Many now feel that corruption should receive priority attention in a country's development agenda. Countries of the OIC are also very apprehensive about this problem and are in agreement that corrup...
March 22, 2022 at 6:41 am | Economic Affairs
By Prof. Dr. M. Iqbal Choudhary Over the years, COMSTECH has pursued a number of initiatives and projects for Science & Technology Capacity Building in OIC member states. The Organization of Islamic Cooperation (OIC) represents the aspirations of the nearly 2 billion Muslims of the world in the political as well as social and intellectual spheres. The OIC operates through its various bodies, each focusing on some specific domain where they harness the collective energy of the Muslim nations for general improvement of the member states and their peoples. While a multitude of problems confront the Muslim countries in general, none is probably as crucial to our dreams of development and economic and social betterment than...
March 22, 2022 at 6:30 am | Economic Affairs
Islamabad: March 15, 2022(Press Release)The Embassy of Japan held two Japanese Calendars Exhibitions 2022 in Islamabad in cooperation with the MEXT Alumni Association of Pakistan (MAAP), the Quaid-e-Azam University and the National Skills University.The exhibition at the Quaid-e-Azam University was inaugurated by H.E. WADA Mitsuhiro, Ambassador of Japan to Pakistan together with the Vice-Chancellor of the Quaid-e-Azam University Dr. Muhammad Ali and other guests on March 15th. Another exhibition was inaugurated by Mr. IWASAKI Ryuji, Cousellor, the head of Cultural Section together with the Vice Chancellor of the National Skills University Dr. Muhammad Mukhatar and other guests on March 8th. Dr. Zabta Khan Shinwari, the President of the MAA...
March 15, 2022 at 7:01 pm | Economic Affairs
By Naghmana A. Hashmi, Commenting on the role and contribution of women in the development of a nation, founder of Pakistan Mr. Jinnah, reminded the people that, “No nation can ever be worthy of its existence or can rise to the height of glory that cannot take its women along with the men. No struggle can ever succeed without women participating side by side with men. There are two powers in the world; one is the sword and the other is the pen. There is a great competition and rivalry between the two. There is however a third power stronger than both, that of the women.” Chairman Mao had very aptly said that, ‘women hold half the sky’. Two important policy decisions taken by Chairman Mao just after the establishment of New Ch...
March 9, 2022 at 11:30 am | Economic Affairs
By Prof. Engr. Zamir Ahmed Awan Prime Minister of Pakistan Mr. Imran Khan is scheduled to arrive Russia tonight. It will be a significant breakthrough in the diplomatic efforts of both countries and a big achievement. The rapidly changing geopolitics has compelled both nations to work together to face the emerging challenges, and this will be in the best interest of both countries, as well as for regional and global peace and stability. Both countries are facing similar challenges and identical issues, therefore, it is natural to work together in close liaison. Common interests and shared views, as well as a convergence of interests, has brought two nations closer and the warmth of their relations has been very visible in r...
February 23, 2022 at 5:07 pm | Economic Affairs
The government of Japan has been very instrumental in providing aid to Pakistan, as it became one of the members of Aid to Pakistan Consortium providing financial assistance to carry out its development programs since 1961. Japan-Pakistan diplomatic and economic relations have steadily progressed since 1952. It was the year when the two formally established diplomatic relations in the backdrop of the World War-2, as Pakistan got independence in 1947 and Japan had suffered a major setback of its economic downturn. But the history of such relations dates back to pre-partition days when the first ever Trading Company from Japan started its business activities in 1918 and first Japan bank opened its branch in 1925 in Karachi. The...
February 23, 2022 at 10:00 am | Economic Affairs
I have the honor to extend my heartiest felicitations on His Majesty’s Birthday and National Day of Japan. I also wish His Majesty, the Emperor of Japan continued health, wellbeing and happiness. The people of Pakistan hold His Majesty and Her Majesty, the Empress in highest esteem and have a lot of affection and goodwill for the people of Japan. Friendly relations between Pakistan and Japan are historical and time tested. It is a relationship based on mutual respect and understanding, with the peoples of both nations having a strong feeling of friendship and affection for each other. Despite relatively limited bilateral interactions in 2020 and 2021 due to the Covid-19 pandemi...
February 23, 2022 at 9:54 am | Economic Affairs
Pakistan Rupee Exchange Rate