The <keyword id="3001" type="General" weightage="80" keywordseo="pakistan" source="Orion">Pakistan</keyword> government on Tuesday announced plans to reduce energy consumption nationwide whereby it proposes to close markets by 8:30 pm and wedding halls by 10 pm, in view of the rising circular debt in the energy sector.<br /><br />"The plan will change the overall lifestyle and habit pattern of the nation and save us Pkr 60 billion," Pakistan Defence Minister <keyword id="1998417" type="General" weightage="50" keywordseo="khawaja-asif" source="Orion">Khawaja Asif</keyword> was quoted as saying by Dawn newspaper during a press conference.<br /><br />Addressing the presser alongside other key ministers, Asif said that the production of fans run on electricity will be halted in Pakistan by July. "Inefficient fans use around 120-130 watts of electricity. Across the globe, fans are available that use 60-80 watts," he said.<br /><br />This development comes as a Pakistan media report said this policy is aimed at saving energy as the government resolves to reduce circular debt in the energy sector.<br /><br />The power division in Pakistan has said that the circular debt which stood at Pkr2.253 trillion by end of September last year had now reached Pkr2.437 trillion, the Dawn report said citing media reports.<br /><br />The Pakistan Defence Minister said that Prime Minister <keyword id="11977746" type="General" weightage="50" keywordseo="shehbaz-sharif" source="Orion">Shehbaz Sharif</keyword> has directed to decrease the usage of electricity used by all federal government departments by 30 per cent. <keyword id="2093498" type="General" weightage="50" keywordseo="pm-sharif" source="Orion">PM Sharif</keyword> also directed against unimportant usage of electricity in offices.<br /><br />This follows warnings from observers and experts about the alarm bells that Pakistan is dangerously close to default.<br />On Sunday, former finance minister <keyword id="1741315" type="General" weightage="50" keywordseo="miftah-ismail" source="Orion">Miftah Ismail</keyword> said "if Pakistan does default, God forbid - which, I believe can be avoided - it would take six months at the minimum to recover."<br /><br />"What would happen if such a thing happens to pass is that we will have to go back to the International Monetary Fund and other lenders, and will have to request them that we will pay any amount due to them this year in the year that follows," he said in an interview with The Express Tribune newspaper.<br /><br />The Pakistan Finance Ministry last week forecasted that inflation will stay high as it warned that the cash-strapped nation is staring at 'severe headwinds' in the current fiscal year, the Dawn newspaper reported.<br /><br />"For FY23, economic growth is likely to remain below the budgeted target due to devastation caused by floods. This combination of low growth, high inflation, and low levels of official foreign exchange reserves are the key challenges for policymakers," said the alert issued by Pakistan Finance Ministry in its Monthly Economic Update and Outlook.<br /><br />According to the economic outlook, Pakistan's overall fiscal deficit stood at 1.5 per cent of GDP during July-October 2022-23 as compared to 0.9 per cent of GDP last year.<br /><br />The Dawn report said the fiscal deterioration was because of higher expenditure growth on the back of higher markup payments while the government is facing the challenge of providing relief to people in flood-hit areas. (ANI)<br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/inflation-in-pakistan-climbed-to-24-5-in-dec/articleshow/96708021.cms">Inflation in Pakistan climbed to 24.5% in Dec</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ntpc-starts-blending-green-hydrogen-with-piped-natural-gas-in-surat/articleshow/96712471.cms"><strong>NTPC starts blending green hydrogen with piped natural gas in Surat</strong></a><br />

Markets to close by 8.30 pm, wedding halls by 10 pm in Pak's new energy conservation plan

<ul><li><strong>The government maintains that this is necessary in view of the ICJ's ruling in June last year, in which it had asked Pakistan to give <keyword id="4434811" type="PERSON" weightage="20" keywordseo="Jadhav-consular-access">Jadhav consular access</keyword> while hearing an appeal filed by India against the death sentence handed to him through a military court trial process. </strong></li><li><strong>However, the opposition parties describes the ordinance as an attempt to facilitate a reprieve for Jadhav, who they call an Indian spy working for Research and Analysis Wing (RAW), in a sneaky manner through a suspected secret deal. </strong></li><li><strong>Major opposition parties are geared up to strongly oppose the ordinance in the Senate, the upper house of parliament, calling it a matter of "national security". <br /></strong></li></ul>The <keyword id="6824371" type="UNKNOWN" weightage="20" keywordseo="imran-khan-government">Imran Khan government</keyword> is expected to table <keyword id="4533921" type="COMPANY" weightage="20" keywordseo="The-International-Court-of-Justice">the International Court of Justice</keyword> (ICJ) Review and Re-consideration Ordinance 2020 in the National Assembly on Monday, even as it faces intense heat from the opposition on the issue.<br /><br />The ordinance seeks to allow alleged <keyword id="4016237" type="PERSON" weightage="20" keywordseo="Indian-spy-Kulbhushan-Jadhav">Indian spy Kulbhushan Jadhav</keyword> the facility to file an appeal in a high court against his conviction. The government maintains that this is necessary in view of the ICJ's ruling in June last year, in which it had asked Pakistan to give Jadhav consular access while hearing an appeal filed by India against the death sentence handed to him through a military court trial process. <br /><br />However, the opposition parties describes the ordinance as an attempt to facilitate a reprieve for Jadhav, who they call an Indian spy working for Research and Analysis Wing (RAW), in a sneaky manner through a suspected secret deal. <br /><br />Major opposition parties are geared up to strongly oppose the ordinance in the Senate, the upper house of parliament, calling it a matter of "national security". <br /><br />Passing the ordinance in the lower house has become a major issue for the government as it has failed to present it at least twice in May, due to strong opposition.<br /><br />"We want to be on the right side of the history. The government faces compulsion; we don't have any compulsion," said opposition Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Asif. <br /><br />Asif reminded that Prime Minister <keyword id="14676" type="PERSON" weightage="20" keywordseo="Imran-Khan">Imran Khan</keyword> was quick to accuse former Prime Minister Nawaz Sharif of making a secret deal with Indian businessman Sajjan Jindal on Jadhav during his meeting with him in <keyword id="1958456" type="LOCATION" weightage="20" keywordseo="Murree">Murree</keyword>. <br /><br />"Purely political announcements were made by Imran Khan before coming in power in 2018. He did not realise the consequences of his accusations back then," he said. <br /><br />"In May 2017, Imran had told a political gathering at Ayub Stadium in Quetta that the execution of the convicted Indian spy had been withheld after Jindal visited Pakistan and met Nawaz Sharif," he said adding that Imran Khan had even asked the Joint Investigation Team (JIT) constituted to probe the Sharif family's foreign assets to also trace their business interests in India. <br /><br />On the other hand, the government will be taking the matter up in a cabinet meeting before the ordinance is sent to the National Assembly for approval.<br /><br />Federal Law Minister Dr. Farogh Naseem called on the opposition parties to avoid politics on the matter, insisting that "India will gain if an ordinance in line with the ICJ verdict is not passed". <br /><br />"This issue is highly sensitive and a matter of national importance. Promulgation of the ordinance is neither a National Reconciliation Ordinance (NRO) nor an appeal," he said. <br /><br />While the government has a compulsion to abide by the ICJ ruling, opposition parties are adamant at not allowing the measure easy transit through the legislature.<br /><br />Opposition parties do not have majority in the lower house but they have a clear majority in the upper house, and warn that if the government succeeds in passing the ordinance in the lower house, they will ensure the upper house rejects it.<br /><br />SEE ALSO: <br /><a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and AstraZeneca shows 'promising' results in early human trials</a><br /><a href="https://www.businessinsider.in/entertainment/news/dil-bechara-kissing-booth-2-and-other-movies-you-can-watch-on-netflix-amazon-prime-disneyhotstar-this-week/slidelist/77142498.cms">Dil Bechara, Kissing Booth 2 and other movies you can watch on Netflix, Amazon Prime, Disney+Hotstar this week</a><br /><a href="https://www.businessinsider.in/business/startups/news/work-from-home-effect-these-companies-are-shelling-out-for-employees-power-bills-internet-cost-and-more/articleshow/77139229.cms">WFH effect – These companies are paying for employees' power bills, internet cost and more</a><br />

Pakistan to reconsider Kulbhushan Jadhav Ordinance in the National Assembly on August 3

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a9dd4a3ed1ed8ea188b456a-799/tillerson-says-will-give-trump-several-options-on-iran-nuclear-deal.jpg" alt="U.S. Secretary of State Rex Tillerson (R) meets with Pakistan's Foreign Minister Khawaja Muhammad Asif at the State Department in Washington, U.S., October 4, 2017. REUTERS/Yuri Gripas" data-mce-source="Thomson Reuters" data-mce-caption="Secretary of State Rex Tillerson meets with Pakistan's Foreign Minister Khawaja Muhammad Asif in Washington" /><p class="source"><span>Thomson Reuters</span></p><p class="caption">Secretary of State Rex Tillerson with Pakistani Foreign Minister Khawaja Muhammad Asif at the State Department in Washington, October 4, 2017.</p></div><p></p></div></div></p><p>ISLAMABAD (Reuters) - As US influence in Islamabad wanes, Pakistan's former adversary Russia is building military, diplomatic and economic ties that could upend historic alliances in the region and open up a fast-growing gas market for Moscow's energy companies.</p><p>Russia's embrace of Pakistan comes at a time when relations between the United States and its historical ally are unraveling over the war in Afghanistan, a remarkable turnaround from the 1980s, when Pakistan helped funnel weapons and US spies across the border to aid Afghan fighters battling Soviet troops.</p><p>Though the Moscow-Islamabad rapprochement is in its infancy, and it is neighbor China that is filling the growing void left by the United States in Pakistan, a slew of energy deals and growing military cooperation promise to spark life into the Russia-Pakistan relationship that was dead for many decades.</p><p>"It is an opening," Khurram Dastgir Khan, Pakistan's <keyword id="6354810" type="ORGANIZATION" weightage="100" keywordseo="Defense">defense</keyword> minister, told Reuters. "Both countries have to work through the past to open the door to the future."</p><p>The cozier diplomatic ties have so far focused on Afghanistan, where Russia has cultivated ties to the Afghan Taliban militants who are fighting US troops and have historic links to Islamabad. Moscow says it is encouraging peace negotiations.</p><p>Both Russia and Pakistan are also alarmed by the presence of Islamic State (IS) inside Afghanistan, with Moscow concerned the group's fighters could spread towards central Asia and closer to home. In Pakistan, IS has already carried out major attacks.</p><p>"We have common ground on most issues at diplomatic levels," Pakistan's Prime Minister Shahid Khaqan Abbasi told Reuters. "It's a relationship that will grow substantially in the future."</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a71978424d50524008b4797-1500/gwadar port pakistan.jpg" alt="gwadar port pakistan" data-mce-source="Drazen Jorgic/Reuters" data-mce-caption="A general view of Gwadar port in Gwadar, Pakistan October 4, 2017. Picture taken October 4, 2017. REUTERS/Drazen Jorgic" /><p class="source"><span>Drazen Jorgic/Reuters</span></p><p class="caption">A general view of Gwadar port in Gwadar, Pakistan, October 4, 2017.</p></div><p></p></div></div></p><p>During a trip to Moscow last month by Pakistan's foreign minister, Khawaja Asif, the two countries announced plans to establish a commission on military cooperation to combat the threat of IS in the region.</p><p>They also agreed to continue annual military training exercises that began in 2016 and followed the sale of four Russian attack helicopters to Pakistan, as well as the purchase of Russian engines for the Pakistan Air Force's JF-17 fighter jets that Pakistan's military assembles on its own soil.</p><p>The detente has been watched with suspicion by Pakistan's neighbor and arch-foe India, which broadly stood in the Soviet camp during the Cold War era. In the last two decades, the close Russia-India relationship has been underpinned by huge arms sales by Moscow to a country it calls a "strategic partner."</p><p>"If the Russians start backing the Pakistanis in a big way at the political level, then it creates a problem for us," said Sushant Sareen, a leading expert on India's relations to Pakistan and Afghanistan with New Delhi-based Observer Research Foundation.</p><p>India's foreign ministry did not respond to a request for comment on Russia's ties with Pakistan, but has previously said that its own relations with Moscow have stood the test of time, and that the two nations are building up defense and energy relations, including collaboration on nuclear reactors in India.</p><h2>Pivoting east</h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a9ad5c15124c9947325cafd-800/moscow-sees-extended-us-sanctions-over-ukraine-as-unlawful.jpg" alt="Russian President Vladimir Putin delivers a speech during a rally to support his bid in the upcoming presidential election at Luzhniki Stadium in Moscow, Russia March 3, 2018. REUTERS/Maxim Shemetov" data-mce-source="Thomson Reuters" data-mce-caption="Russian President Putin delivers a speech during a rally to support his bid in the upcoming presidential election at Luzhniki Stadium in Moscow" /><p class="source"><span>Thomson Reuters</span></p><p class="caption">Russian President Vladimir Putin at a rally to support his bid in the upcoming presidential election at Luzhniki Stadium in Moscow, March 3, 2018.</p></div><p></p></div></div></p><p>Russian overtures to Pakistan offer a badly needed diplomatic lifeline for the South Asian nation as it faces growing friction with Western powers over its alleged links to militants.</p><p>At US urging, and with backing from Britain, France and Germany, a global financial watchdog, the Financial Action Task Force (FATF), last month decided to place Pakistan back on its watchlist of countries with inadequate terrorist-financing controls, potentially hurting Pakistan's fragile economy.</p><p>The US move, which Islamabad angrily dismissed as an effort to "embarrass" Pakistan, followed Washington's announcement in January to suspend $2 billion in military assistance.</p><p>Asif, Pakistan's foreign minister, said his nation made a historical error by "tilting 100 percent" to the West and was now eager build alliances closer to home with the likes of China, Russia and Turkey.</p><p>"We want to correct the imbalance of our foreign policy over 70 years," Asif told Reuters. "We are not divorcing that relationship (with the West). But we want to have a balance in our relationships, we want to be closer to our friends in our region."</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a86b1815124c919676465b2-800/pakistan-to-send-troops-to-saudi-arabia-to-train-and-advise.jpg" alt="FILE PHOTO - Army personnel drive up to their base beside the ski resort in Malam Jabba, Pakistan February 7, 2017. Picture taken February 7, 2017. REUTERS/Caren Firouz" data-mce-source="Thomson Reuters" data-mce-caption="FILE PHOTO - Army personnel drive up to their base beside the ski resort in Malam Jabba" /><p class="source"><span>Thomson Reuters</span></p><p class="caption">Army personnel drive up to their base beside the ski resort in Malam Jabba, Pakistan February 7, 2017.</p></div><p></p></div></div></p><p>Defence minister Khan said Pakistan's military, which has historically been heavily reliant on US weapons and aircraft, may have no choice but to ramp up purchases from the likes of Russia.</p><p>The cooling relationship with Washington is already pushing Islamabad closer to China, which is investing about $60 billion in infrastructure in Pakistan. But analysts say Pakistan is wary of becoming overly dependent diplomatically on Beijing.</p><p>Pakistan is among several nations that have been courted by Moscow after falling out with Washington, including the Philippines and Qatar, but Russia's long-term aims for the Pakistan relationship are unclear, according to Petr Topychkanov, a senior researcher at the Stockholm International Peace Research Institute.</p><p>"It's not very transparent, even in Russia," he said. "There is no serious public debate, there is no detailed explanation to the Russian public about what Russia wants in Pakistan."</p><p>Russia's foreign ministry did not immediately respond to a request for comment about Moscow's increasingly close relations with Pakistan.</p><h2>Energy deals</h2><p>Russia and Pakistan are negotiating potential energy deals worth in excess of $10 billion, according to Pakistani energy officials.</p><p>Asif said four to five huge power projects "will cement our relationship further."</p><p>Russia last month appointed an honorary council in the Pakistan's northern Khyber Pukhtunkhwa province, where its companies are in talks to build an oil refinery and a power station.</p><p>But the biggest deals focus on gas supply and infrastructure to Pakistan, one of the world's fastest growing liquefied natural gas (LNG) import markets.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a3021758229f250008b4c3e-1778/pakistan protest trump.jpg" alt="Pakistan Protest Trump" data-mce-source="AP Photo/Muhammad Sajjad" data-mce-caption="Pakistanis rally against America in Peshawar, Pakistan, Wednesday, Aug. 30, 2017." /><p class="source"><span>AP Photo/Muhammad Sajjad</span></p><p class="caption">Pakistanis rally against the US in Peshawar, Pakistan, August 30, 2017.</p></div><p></p></div></div></p><p>"On a strategic basis, Russia is coming in very fast on the energy side," said a senior Pakistani energy official.</p><p>In October, Pakistan and Russia signed an inter-governmental agreement (IGA) on energy, paving the way for Russian state-giant Gazprom to enter negotiations to supply LNG to Pakistan.</p><p>The talks are expected to conclude within three months and Gazprom is considered "one of the front-runners" to clinch a long-term supply deal, according to the Pakistani official.</p><p>Based on two monthly LNG cargo deliveries, that deal would be worth about $9 billion over 15 years, he added.</p><p>There is also growing confidence that a gas pipeline due to be built by Russia, stretching 1,100 km (680 miles) from Lahore to the port city of Karachi, will go ahead.</p><p>US sanctions against Russian state conglomerate Rostec, as well as a dispute over North-South pipeline transport fees, have held up the $2 billion project since it was signed in 2015.</p><p>The North-South pipeline would be the biggest infrastructure deal by Russia since early 1970s, when Soviet engineers constructed the Pakistan Steel Mills industrial complex.</p><p>A Russian company, according to defense minister Khan, is eying up a deal to take over the disused Soviet-built steel mills.</p><p>(Reporting by Drazen Jorgic; additional reporting by Oksana Kobzeva in Moscow and Sanjeev Miglani in New Delhi; editing by Alex Richardson)</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/pakistan-tested-submarine-launched-nuclear-capable-missile-india-babur-2017-1">Pakistan says it has fired its first submarine-launched nuclear-capable missile</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/U5OOjO1U-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

Pakistan's relationship with the US is getting frosty - and it's warming up to Russia

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a4c3182396e378e078b46e1-770/nikki haley.jpg" alt="nikki haley united nations" data-mce-source="Drew Angerer/Getty Images" data-mce-caption="US ambassador to the United Nations Nikki Haley speaks during a brief press availability at United Nations headquarters, January 2, 2018 in New York City. She discussed protests in Iran and the North Korea nuclear threat." /><p class="source"><span>Drew Angerer/Getty Images</span></p><p class="caption">US ambassador to the United Nations Nikki Haley speaks during a brief press availability at United Nations headquarters, January 2, 2018 in New York City. She discussed protests in Iran and the North Korea nuclear threat.</p></div><p></p></div></div></strong></p><ul><li><strong>US Ambassador to the United Nations Nikki Haley accused Pakistan of "playing a double game" with the US, and said the US would withhold $255 million in aid to the country.</strong></li><li><strong>Her comments follow a <a href="http://www.businessinsider.com/trump-threatens-to-cut-aid-to-pakistan-2018-1">series of tweets from President Donald Trump on Monday</a>, in which he accused the country of taking US aid while providing "safe haven" to terrorists.</strong></li><li><strong>The US Ambassador to Pakistan was called in following Trump's tweets.</strong></li></ul><hr /><p>US Ambassador to the United Nations Nikki Haley accused Pakistan of "playing a double game" with the US "for years," and pledged to withhold $255 million in aid to the country.</p><p>Trump blasted Pakistan in a <a href="http://www.businessinsider.com/trump-threatens-to-cut-aid-to-pakistan-2018-1">series of tweets on Monday</a>, accusing the country of taking US aid while providing "safe haven" to terrorists.</p><p>"The United States has foolishly given Pakistan more than 33 billion dollars in aid over the last 15 years, and they have given us nothing but lies &amp; deceit, thinking of our leaders as fools," <a href="https://twitter.com/realDonaldTrump/status/947802588174577664" target="_blank" rel="noopener">Trump wrote</a>. "They give safe haven to the terrorists we hunt in Afghanistan, with little help. No more!"</p><p>Washington had been considering cutting aid to Pakistan that it had already delayed since August, according to <a href="https://www.nytimes.com/2017/12/29/us/politics/pakistan-american-aid-255-million.html?_r=0">The New York Times</a>.</p><p>Haley seemed to echo Trump's statements, vowing that the US will cut its financial assistance to country for what she said were "clear reasons."</p><p>"They work with us at times, and they also harbor the terrorists that attack our troops in Afghanistan," she told reporters at the UN on Tuesday.</p><p>"That game is not acceptable to this administration. We expect far more cooperation from Pakistan in the fight against terrorism," she added.</p><p>The Pakistani government has not yet issued a formal response to Haley's statements.</p><h2>Tensions have been rising</h2><p>On Monday, US Ambassador to Pakistan David Hale was <a href="http://www.businessinsider.com/r-pakistan-summons-us-ambassador-after-trumps-angry-tweet-2018-1">summoned by the Pakistani government in response to Trump's tweet</a>, according to local media.</p><p>According to Reuters, Pakistani Prime Minister Shahid Khaqan Abbasi held a security meeting with the country's top civilian and military chiefs on Tuesday. Following the security meeting, Foreign Minister Khawaja Asif said he would pay for Trump to audit Pakistan to verify his claim that Pakistan received $33 billion in US aid over the past 15 years.</p><div>"He can hire a US based Audit firm on our expense to verify this figure &amp; let the world know who is lying &amp; deceiving," Asif <a href="https://twitter.com/KhawajaMAsif/status/948201021356085248">tweeted</a>.</div><p>Meanwhile, hundreds took to the streets in Karachi to protest Trump's rhetoric, <a href="http://edition.cnn.com/2018/01/02/asia/pakistan-trump/index.html">according to CNN</a>, burning US flags and chanting anti-US slogans. A similar protest was held in Lahore, CNN said, citing AFP.</p><p>Relations between the US and Pakistan have been strained for several years, with the US criticizing Islamabad's alleged support for Haqqani militants, who are allied with the Afghan Taliban.</p><p>Pakistan denied claims that it does not do its part in the war on terror. The Pakistani government said Tuesday that "tens of thousands" Pakistanis, including some security personnel have died fighting terrorism, and said putting a "monetary value" on their lives would trivialize their sacrifices.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/navy-seal-explains-end-shower-cold-water-2017-3">A Navy SEAL explains why you should end a shower with cold water</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/jnbxzv7N-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

Nikki Haley accuses Pakistan of playing 'double game' with the US, vows to withhold $255 million in aid

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/58ea5d798af57896638b4cd1-2400/ap17097567004485.jpg" alt="rex tillerson donald trump" data-mce-source="AP Photo/Alex Brandon" data-mce-caption="President Donald Trump and Secretary of State Rex Tillerson during a bilateral meeting." /><p class="source"><span>AP Photo/Alex Brandon</span></p><p class="caption">President Donald Trump and Secretary of State Rex Tillerson during a bilateral meeting.</p></div><p></p></div></div></p><p>President Donald Trump told Secretary of State Rex Tillerson that American businesses were being unfairly penalized by federal laws prohibiting the bribing of foreign officials, according to a profile of Tillerson by <a href="https://www.newyorker.com/magazine/2017/10/16/rex-tillerson-at-the-breaking-point">The New Yorker's Dexter Filkins</a>. </p><p>Tillerson, who had initially called the meeting with Trump to introduce the president to a prospective deputy, was taken aback by Trump's position.</p><p>"Tillerson told Trump that America didn't need to pay bribes - that we could bring the world up to our own standards," a source with knowledge of the meeting told The New Yorker.</p><p>Tillerson then relayed an anecdote to Trump from his time as the CEO of Exxon Mobil, when he met with a senior Yemeni official to discuss a deal. During the meeting, Yemen's oil minister reportedly handed him a business card, with the account number to a Swiss bank account written on the back.</p><p>"5 million dollars," the Yemeni official reportedly told him.</p><p>"I don't do that," Tillerson responded, per The New Yorker. "Exxon doesn't do that."</p><p>Tillerson told the Yemenis that they'd have to play the deal by the book if they wanted Exxon's business. A month later, they acquiesced.</p><p><span>Abolishing federal laws barring foreign bribes has been something of a pet issue for Trump, whose family real estate company has been involved in deals around the globe. </span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/59d4fe7e5124c9f25eb660dc-800/tillerson-says-will-give-trump-several-options-on-iran-nuclear-deal.jpg" alt="U.S. Secretary of State Rex Tillerson (R) meets with Pakistan's Foreign Minister Khawaja Muhammad Asif at the State Department in Washington, U.S., October 4, 2017. REUTERS/Yuri Gripas" data-mce-source="Thomson Reuters" data-mce-caption="Secretary of State Rex Tillerson meets with Pakistan's Foreign Minister Khawaja Muhammad Asif in Washington" /><p class="source"><span>Thomson Reuters</span></p><p class="caption">Secretary of State Rex Tillerson meets with Pakistan's Foreign Minister Khawaja Muhammad Asif in Washington</p></div><p></p></div></div></span></p><p>In 2012, Trump <a href="https://www.cnbc.com/video/2012/05/15/trump-dimons-woes-zuckerbergs-prenuptial.html?play=1">told CNBC</a> that The Foreign Corrupt Practices Act, which bars US companies from using bribes for a competitive advantage, is a "horrible <keyword id="6355470" type="CITY" weightage="60" keywordseo="Law">law</keyword>" that stifles American businesses working abroad.</p><p>"It puts us at a huge disadvantage," he said.</p><p>In February, Trump's administration killed a rule that forces energy companies listed on US stock exchanges to disclose their payments to foreign officials. Congress got rid of the rule, but kept the amendment - which means the Securities and Exchange Commission has to come up with a new disclosure policy, <a href="https://www.cnbc.com/2017/02/14/trump-and-gop-killed-energy-corruption-rule-for-no-good-reason-advocates-say.html">reports CNBC</a>. </p><p>Jay Clayton, the SEC chairman, has <a href="http://www2.nycbar.org/pdf/report/uploads/FCPAImpactonInternationalBusinessTransactions.pdf">expressed skepticism</a> about the law in the past as well, leading some to believe he will be lenient with enforcement. </p><p><span>Attorney General Jeff Sessions, however, <a href="https://www.nytimes.com/2017/04/24/us/politics/jeff-sessions-anti-bribery.html?_r=0">said in April</a> that the Justice Department would continue to enforce the FCPA, "and other anti-corruption laws."</span></p><p>The relationship between Trump and Tillerson is strained amid reports that Tillerson <a href="http://www.businessinsider.com/rex-tillerson-donald-trump-moron-is-secretary-of-state-resigning-2017-10">called Trump a "moron"</a> in a meeting. Tillerson called a press conference on Wednesday denying the report and expressed his commitment to remaining at the State Department, <a href="http://www.businessinsider.com/state-department-spokesperson-tillerson-trump-moron-2017-10">amid widespread rumors</a> that he had to be talked out of resigning earlier this year.</p><p class="tagline">Get the latest ExxonMobil stock price<a href="http://markets.businessinsider.com/stock/XOM-Quote"> here.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/salamander-change-american-politics-gerrymandering-electoral-districts-obama-election-governor-politics-2017-6">The Supreme Court will hear a landmark case on gerrymandering - here's how the political tactic changed the US forever</a></h3>        <div>            <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/RJruBsEN-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script>        </div>    </div>

After Trump took office, he told Tillerson that American businesses were being unfairly penalized by laws prohibiting them from bribing foreign officials

<img class="gwt-Image" src="/photo/54581749.cms" />The Indian Army said it carried out surgical strikes in Pakistan and destroyed seven terror hubs across the Line of Control (LOC), just two kilometres across the de-facto border.<br />
<br />
Pakistan defence minister Khawaja Asif said two Pakistan soldiers were killed and nine were injured. There was no casualty report from the Indian side.<br />
<br />
During a news briefing, Indian Army's Director General of Military Operations (DGMO), Lt General Ranbir Singh said the surgical strikes on the terror camps were based on “very specific and credible information that some terrorist units had positioned themselves to infiltrate".<br />
<br />
Here's what happened:<br />
<br />
- The surgical strikes were carried out just two kilometres across the LOC.<br />
<br />
- The Indian forces were paradropped and the operations went on for four hours between 12.30 am and 4.30 am.&#xa0;<br />
<br />
- DGMO&#xa0;Lt Gen Singh said he spoke with his Pakistani counterpart and shared the concerns with him.&#xa0;“We told him that we conducted surgical strikes last night,” said the DGMO.<br />
<br />
- Pakistan Prime Minister Nawaz Sharif said India should not take its peaceful intent as weakness and condemned the surgical strike.<br />
<br />
- The surgical strikes were carried out on September 28, but the Pakistani media has denied the same, saying India was fabricating the truth.<br />
<br />
- Pakistan’s s ISPR said, “Notion of surgical strike linked to alleged terrorists bases is illusion deliberately generated by India to create false effects. This was not a surgical strike, we are alert for any eventuality. Pakistan has made it clear that if there is a surgical strike on Pakistani soil, same will be strongly responded.”<br />
<br />
- India maintained despite Pakistan’s commitment not to allow its territory for terrorism, there was no action on it.&#xa0;“This is reflected in the terror attacks in Poonch and Uri on the 11th and the 18th September, respectively,” said Lt Gen Singh.<br />
<br />
- Meanwhile, the Indian government has called for an all-party meet. Dr Nirmal Singh, Deputy Chief Minister of Jammu and Kashmir, said, “Pakistan was behaving like a terrorist state; befitting reply was needed. These strikes boosted the morale of our army.”<br />
<br />
- Following the news, the Indian financial markets tanked beyond 500 points.<br />
<br />
- Sensex lost over 500 points and ICICI Bank, Adani Ports, Axis Bank , Sun Pharma and GAIL are the top Sensex losers. India VIX spikes 17.09%.&#xa0;Nifty50 slipped below 8,700 level.<br />
<br />
-Villages in Punjab, which are 10 kilometres from International Border with Pakistan, are being evacuated as additional BSF troops are moving in.<br />
<br />
- Baloch Leader says Mazdak Dilshad Baloch says, “We support such strikes and want Indian Army to conduct surgical strikes in Balochistan as well.”



India carries out surgical strikes on terror launch pads in Pakistan. Here’s how it happened

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="http://static3.businessinsider.com/image/52b9638569bedd3d628be076-1200-800/rtx12tz1.jpg" border="0" alt="pakistan" /><p class="source"><span>REUTERS/Akhtar Soomro </span></p><p class="caption">A Pakistani flag flies on a mast as paramilitary Frontier Corps soldiers talk while guarding at Karachi's District Malir prison, August 23, 2013.</p></div><p></p></div></div>ISLAMABAD (Reuters) - China has committed $6.5 billion to finance the construction of a major nuclear power project in Pakistan's port city of Karachi as it seeks to strengthen ties with its strategic partner, Pakistani officials said.</p>
<p>Pakistani Prime Minister Nawaz Sharif broke ground on the $9.59 billion project last month but officials have provided few details of how they plan to finance it.</p>
<p>Financing documents seen by Reuters showed China National Nuclear Cooperation (CNNC) has promised to grant a loan of at least $6.5 billion to finance the project which will have two reactors with a capacity of 1,100 megawatts each.</p>
<p>Two members of the government's energy team and three sources close to the deal confirmed this. CNNC was not available for comment.</p>
<p>"China has complete confidence in Pakistan's capacity to run a nuclear power plant with all checks in place," said Ansar Parvez, chairman of the Pakistan Atomic Energy Commission which runs the civilian nuclear program.</p>
<p>Parvez declined to give more details of the funding but said it would be completed by 2019 and each of the two reactors would be larger than the combined power of all nuclear reactors now operating in Pakistan.</p>
<p>As part of the deal, China has also waived a $250,000 insurance premium on the loan, said two sources in the Energy Ministry with knowledge of the project. They declined to be identified as they are not authorized to speak to the media about the financing.</p>
<p>Pakistan and China, both nuclear-armed nations, consider each other close friends and their ties have been underpinned by common wariness of India and a desire to hedge against U.S. influence in South Asia.</p>
<p>Pakistan sees nuclear energy as key to its efforts to solve power shortages that have crippled its economy. Pakistan generates about 11,000 MW of power while total demand is about 15,000 MW.</p>
<p>Blackouts lasting more than half a day in some areas have infuriated many Pakistanis and sparked violent protests, undermining an economy already beset by high unemployment, widespread poverty, crime and sectarian and insurgent violence.</p>
<p>Under its long-term energy plan, Pakistan hopes to produce more than 40,000 MW of electricity through nuclear plants by 2050.</p>
<p>The United States sealed a nuclear supply deal with India in 2008, irking both China and Pakistan.</p>
<p>Pakistan wants a similar agreement with the United States but it is reluctant, largely because Pakistani nuclear scientist Abdul Qadeer Khan admitted in 2004 to transferring nuclear secrets to North Korea, Iran and Iraq.</p>
<p>"There should be no double standards in terms of civilian nuclear deals," Parvez said. "Pakistan has energy needs and the building of two new reactors should convince everyone that India's embargos and restrictions won't stop us."</p>
<h3>PROLIFERATION FEARS</h3>
<p>Pakistan carried out its first nuclear tests in 1998, soon after India conducted tests. Both refuse to join the Nuclear Non-proliferation Treaty, which would oblige them to scrap atomic weapons.</p>
<p>China has already helped supply two nuclear reactors at the Chashma nuclear power complex in Pakistan's Punjab region, while another two are also under construction with Chinese assistance.</p>
<p>China's nuclear cooperation with Pakistan has caused unease in Washington, Delhi and other capitals due to fears about commitment to nuclear non-proliferation rules.</p>
<p>China says its nuclear ties with Pakistan are entirely peaceful and come under International Atomic Energy Agency safeguards. It has not given details of the project's financing but state media has put its total value at $9.59 billion.</p>
<p>"Bilateral cooperation in the energy sector is to help ameliorate Pakistan's energy shortages," Chinese Foreign Ministry spokeswoman Hua Chunying said on Monday. "This accords with the interests of the Pakistani people."</p>
<p>Three prominent physicists recently raised questions about the safety, design and cost of the new reactors inKarachi, sparking a national debate.</p>
<p>"There is no official information about preparedness for a nuclear accident in Karachi that is available publicly," said Zia Mian, a Pakistani-American physicist who directs the Project on Peace and Security in South Asia atPrinceton University.</p>
<p>"The only real obstacle that may exist to the new reactors being built is if the citizens of Karachi decide they do not want to live with the risks these reactors create."</p>
<p>But Pakistan's new energy minister has dismissed the critics.</p>
<p>"Every 1,000 megawatts of electricity produced through nuclear energy saves you $1 billion in oil imports,"Khawaja Asif, the minister for water and power, told Reuters.</p>
<p>"If critics can give me alternatives and other platforms to raise money for low-cost, clean power, I'm willing to listen."</p>
<p>(Additional reporting by Ben Blanchard and Aizhu Chen in Beijing; Editing by Maria Golovnina and Robert Birsel)</p>

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