China supports regional naval alliance plan

China pledges to strive for peace and stability in West Asia, including Persian Gulf, by promoting plans for a regional maritime alliance.

A question regarding Iran’s intention to create a naval alliance with Saudi Arabia, the United Arab Emirates, and other Persian Gulf nations that will also include India and Pakistan to protect regional stability was addressed by Wang Wenbin, the spokesperson for the Chinese Foreign Ministry.

Speaking at regular press briefing, Wang also noted that “upholding the peace and stability of the Persian Gulf region in the Middle East (West Asia) bears on the wellbeing of countries and people in the region.”

Rear Admiral Shahram Irani, the commander of the Iranian navy, had announced earlier that Iran will create new intra- and extra-regional partnerships to improve security.

“Today, regional countries have realized that the establishment of security in the region requires synergy and cooperation,” Irani stressed.

The Chinese spokesperson stressed the vital importance of peace and stability in the region at the news conference in order to preserve world peace, accelerate global economic growth, and maintain a steady supply of energy.

“China supports regional countries in resolving disputes and cultivating good-neighborliness and friendship through dialogue and consultation,” Wenbin added.

Beijing, he declared, will continue to contribute positively and constructively to the cause of regional peace and stability.

US authorities were not pleased with Admiral Irani’s announcement of the formation of a joint naval alliance.

Tim Hawkins, the spokesman for the 5th Fleet and Combined Maritime Forces, purportedly said that Iran’s participation in a regional naval alliance defies reason and that the Islamic Republic is the primary cause of maritime instability in the Persian Gulf region.

The parameters of the regional alliance are taking shape a year after the Israeli regime claimed that it, along with the United States and regional Arab allies, would form a Middle East NATO to fight Iran's dominance in the region.

American and Israeli military leaders touted the notion ahead of President Joe Biden’s July visit to West Asia.

The goal was to improve cooperation among allies in order to defend each other against envisioned Iranian threats.

Israel’s hopes for a coalition against Iran, however, have been dashed as a number of Persian Gulf Arab nations, led by Saudi Arabia, have started to change their allegiances and normalize ties with Iran.

Iran has recently made maritime breakthrough that can shake the US position in the world including the 86th Naval Fleet, which included the home-built Dena Destroyer, and came home last month after the first round of the world in a mission dubbed 360-Degree.

The flotilla sailed across the Indian, Pacific, and Atlantic oceans without needing assistance from land for the first time in Iran’s naval history.

It departed from Bandar Abbas, a port city on the Persian Gulf, on September 20, 2022. It finally anchored at Oman’s Salalah harbor on the 236th day of its journey. The flotilla traveled 63,000 kilometers and four times crossed the equator.

Last month, Admiral Farhad Fattahi, the commander of Iran’s 86th Naval Fleet, outlined achievements of the flotilla after a round-the-world voyage.

Admiral Fattahi emphasized that the first achievement of the voyage can be mentioned as the design, production and operationalization of the all-Iranian meteorological software, which was developed by Iranian youths in the army and yielded fruitful results.

“Secondly, we have proven that the Iranian products are totally trustworthy and reliable. It means that the Dena destroyer is an Iranian product that is 100% reliable,” he added.

The admiral continued, “Given the maritime diplomacy, one of the achievements is that the flotilla docked in the port of Rio de Janeiro to mark the 120th anniversary of the establishment of diplomatic relations between Iran and Brazil.”

“Another remarkable achievement is that Iran’s flag was waved in the world’s four major oceans, seven seas and seven strategic straits,” he noted.

The admiral also said that a unique phenomenon emerged in the cultural sphere as the flotilla’s commanders and staff were representatives of Iranian-Islamic cultural values.

Admiral Fattahi remarked that during the mission, we used the home-built Dena destroyer, whose capabilities grabbed the attention of other countries’ naval commanders and forces. This came as no surprise that all naval commanders expressed congratulations over building such a military feat.

 

Iran embassy opens in Riyadh

Iran opened its embassy in its old headquarters in the Diplomatic Quarter in Riyadh. Those who attended the opening ceremony included Deputy Minister of Foreign Affairs for Saudi Consular Affairs Ali Al-Youssef, Iranian Deputy Foreign Minister for Consular Affairs Ali Reza Bekdli, and the Iranian Chargé d’Affairs Hassan Zarnegar.

The embassy opening comes about three months after a bilateral agreement was reached between Saudi Arabia and Iran to resume bilateral relations, brokered by China. Last month, Iran appointed Alireza Enayati, a veteran diplomat, as its ambassador to Saudi Arabia.

The Iranian Foreign Ministry had announced on Monday that the country would re-open diplomatic missions in Saudi Arabia in the next two days. Nasser Kanaani, spokesman of the ministry, said in a statement earlier that the Iranian embassy in the Saudi capital Riyadh and consulate general and representative office to the Organization of Islamic Cooperation (OIC) in Jeddah would officially re-open on Tuesday and Wednesday.

Kanaani stated that the embassy in Riyadh and its consulate-general in Jeddah had already begun operating to help Iranian pilgrims heading to Saudi Arabia to perform Hajj, set to start by the end of June.

Under a Chinese-brokered deal reached in March, Saudi Arabia and Iran agreed to re-establish relations, which were severed in 2016 following an attack on the Saudi embassy in Tehran and consulate in Mashhad.

 

Nearly 80 students, mostly girls, poisoned in Afghanistan

Nearly 80 primary school students, mostly girls, are suspected to have been poisoned over the weekend and taken to hospital in Afghanistan’s Sangcharak district, Mohammad Rahmani, the head of the Education Department in the northern Sar-e-Pul province, told CNN.

The intelligence unit of the provincial police department said they are still investigating the matter, according to Rahmani, who said he spoke to police directly. So far officials are unclear on the culprit, the motive, and the potential type of poison possibly used against the school children, he added.

The investigation was prompted by accounts of 17 female students in one school on Saturday, and a day later, 60 others, mostly girls, at another school in a nearby village, Rahmani said.

“After reaching school in the morning, the students suddenly started feeling dizzy, headache, and nausea,” Rahmani said. The students were admitted to a local hospital, but 14 whose situation was more critical were transported to a hospital in the provincial capital, according to Rahmani.

A doctor at Sar-e-Pul hospital confirmed to CNN that some of the girls were admitted to hospital and he believes they were poisoned based on their symptoms.

The education of girls has become a divisive issue in Afghanistan since the Taliban takeover of the country in 2021, where the group proceeded to strip away hard won freedoms for women and exclude them from public life.

Some of its most striking restrictions have been around education, with girls barred from returning to secondary schools and universities, depriving an entire generation of academic opportunities.

Following international pressure, the Taliban kept primary schools open for girls until around the age of 12, Reuters reported.

Several poisoning attacks against schoolgirls took place during Afghanistan’s previous foreign-backed government. In 2012, more than 170 women and girls were hospitalized after drinking apparently poisoned well water at a school. Local health officials blamed the acts on extremists opposed to women’s education.

Focus on agriculture can pull Pakistan out of current economic malice

At present Pakistan faces myriad of problems, from rising food import bill to very limited availability of foreign exchange. While the industrial sector remains import dependent, focus on two of the large scale industries i.e. textiles and clothing and sugar and allied can yield multiple benefits: from huge earning of foreign exchange to creating extensive employment for low-skill workers. However, this requires commitment of the government, introduction of supporting policies and implementation of these policies in letter and spirit.

It is on record that 20% to 40% of agriculture produce goes stale before reaching the market. This on one hand deprives the farmers from modest return of their efforts and on the other hand creates shortages and use of paltry foreign exchange available to Pakistan. It is pertinent to point out that the Government of Pakistan (GoP) had come up with Warehouse Receipt Financing (WRF) program as back as in 2013. The lack of commitment on the part of the GoP as well as the financial institutions has failed in facilitating construction of modern grain storage silos in the country.

Over the years the GoP has been increasing quantum of lending to farmers and the indicative target for the current financial year is PKR1.8 trillion. The lending is being done under two heads: for the purchase of inputs and for the development. The most shocking part is that some of the financial institutions prefer to pay the penalty, rather than extending credit to farmers. This has resulted in exclusion of small farmers from the formal banking system.

Financial institutions have been lending to farmers against ownership documents of their land. Despite multiple land reforms, bulk of the land is still owned by the feudal lords. Small land holders or those who have no land ownership documents have remained out of the formal banking system. WRF system was conceived as an alternative system for financial inclusion. Under this scheme farmers could use their produce as collateral and secure funds from the financial institution.

If the GoP is serious it has to take on board State Bank of Pakistan, Securities & Exchange Commission of Pakistan, commercial banks and Naymat Collateral Management Company to undertake construction of grain storage silos on war footings.

The most disappoint fact is that the country produces over 25 million tons wheat, the federal and provincial governments are the major buyers but virtually no wheat storage silos are present. Bulk of the produce is kept in warehouses not fit for the storage of staple food grain. The result is over 20% of the produce goes stale before reaching the market.

I was amazed to hear from some religious clerics that construction and management of warehouses is not Shariah compliant, the basic objection is it facilitates hording. They are unable in distinguishing between ‘safekeeping’ and ‘hording’.

Pakistan earns bulk of its foreign exchange from export of textiles and clothing. Without any exaggeration the country is capable of producing 20 million bales of medium staple fiber. However over the last few years cotton production has reduced to around 6 million bales. An output of 10 million bales can be attained by: using certified quality seed, stopping cultivation of sugarcane in sugar belt and using certified quality of pesticides/insecticides. This would also help in boosting production of ‘cotton seed oil’ – an edible oil as well as oilcakes for feeding cows and buffaloes.

The third important crop is sugarcane which not only produces sugar but also exports ethanol and molasses in huge quantities. Cultivation of superior quality sugarcane varieties can help in boosting production of sugar, molasses and ethanol.

It is necessary to remind the policy planners, if they still don’t know, that ethanol is used for the production of bio-fuels. At one time the GoP had started sale of E-10 - petrol containing 10% ethanol. Only the policy planners know why this project was abandoned?

Maize is yet another crop that can help in containing food import bill. Maize yields oil, flour and oilcake (used in the production of chicken feed). Now cultivation of two crops is a norm and in certain areas third crop is cultivated.

It may be pertinent to mention that maize yield in Pakistan is substantially low and the prime reason is high price of DAP fertilizer.

This takes to another key industry, fertilizer industry. Over the years the industry has help in saving precious foreign exchange. Now it has the capacity to export one million tons of urea. At times the country has to import urea, which is due to the bad policy of stopping gas supply to fertilizer plants during winter.

The GoP must also facilitate running of power plants on furnace oil. The plea taken by the GoP for not running power plants on furnace oil is most absurd – it contains high percentage of sulphur. The GoP must immediately arrange fund for installing sulphur at local refineries. It would yield two benefits: use of furnace in local power plants as well as its export - extra foreign exchange will be earned from the export of sulphur.

 

 

 

 

 

 

 

FINEX 2023 inaugurated in Tehran

The 15th International Exhibition of Financial Industries (Exchange, Bank and Insurance) – Iran FINEX 2023- kicked off at Tehran Permanent International Fairground on Tuesday, IRIB reported.

The opening ceremony of the exhibition was attended by senior officials including Head of Iran International Exhibitions Company Ahmadreza Alaei and Head of Securities and Exchange Organization (SEO) Majid Eshqi.

Speaking at the ceremony, Alaei said: “The country's financial industry is growing and we are witnessing creativity in this field.”

According to the official, some 136 companies are participating in this four-day event.

Also addressing the opening ceremony, Eshqi said the exhibition is a great opportunity for people to increase their knowledge about financial markets.

“This exhibition will be a golden opportunity to increase financial knowledge for the general public and economic operators. Financial literacy is one of the important components of the new era,” he said.

“Many positive things have happened over the past two years and this exhibition is a great opportunity for the people and companies active in the capital market to present their developments and creativity,” Eshqi noted.

“For the first time and in order to measure the state of financial literacy in the country, the Securities and Exchange Organization has established a capital market Consumer Opinion Center (COC),” he added.

According to the SEO head, the COC has been established mainly with the aim of increasing the general public and stock market shareholders’ financial literacy.

The slogan of this year's exhibition is "Propelling financial industry, growth of production and containment of inflation".

Raising awareness about financial markets and their services, increasing financial literacy, promoting indirect shareholding, developing and promotion of new services in insurance and financial markets, digitization of payment, as well as electronic banking, are among the most important goals of this exhibition.

 

Iran adds 15 ships to its merchant fleet

Iran has added 15 ships to its trade maritime fleet in the Caspian Sea amid growing trade ties with Russia and other countries located to the north of Iran.

According to Mehr News Agency, the head of Iran’s Ports and Maritime Organization (PMO) has said that expanding Iran’s northern fleet of commercial vessels has become a priority for the country’s Transport and Urban Development Ministry, of which the PMO is a subsidiary.

“Given that the volume of trade with neighboring countries to the north is growing, the first priority for the ministry is to expand the fleet and to increase the capacity in the Caspian Sea,” Ali-Akbar Safaei said on Saturday.

Safaei said Iran’s Caspian Sea merchant fleet will further expand in the near future with the arrival of new ships from the Volga River.

The announcement comes amid growing shipping activity in the Caspian Sea as Russia and other countries have ramped up their exports and imports via Iran and its southern ports.

Media reports and statements by Iranian authorities show there has been a major surge in trade via the International North-South Transport Corridor (INSTC), a route that connects the Persian Gulf and the Indian Ocean to countries to the north of Iran via the Iranian road and rail transportation network.

Iran has created new infrastructure, including modern port operation systems, in its northern ports to both facilitate cargo transit via the INSTC and to increase its own exports to Russia and other countries.

Last month, Iran and Russia signed a contract to build a key railway along the Caspian Sea that would significantly boost trade via INSTC’s western branch.

 

 

Iran will reopen embassy in Saudi Arabia on Tuesday

The Iranian Foreign Ministry announced on Monday that the country would re-open diplomatic missions in Saudi Arabia in the next two days.

Nasser Kanaani, spokesman of the ministry, said in a statement that the Iranian embassy in the Saudi capital Riyadh and consulate general and representative office to the Organization of Islamic Cooperation (OIC) in Jeddah will officially re-open on Tuesday and Wednesday.

The decision was part of the process to finish implementing the agreements, reached between Saudi Arabia and Iran to resume bilateral relations, according to a statement published on the ministry’s website. Iran has appointed Alireza Enayati, a veteran diplomat, as its ambassador to Saudi Arabia.

Meanwhile, a diplomatic source in Riyadh said that the reopening of the Iranian embassy will take place on Tuesday at 6:00 pm in the presence of new Ambassador Enayati. “To implement the agreement...Iran’s embassy in Riyadh, our Consulate-General in Jeddah and the office of our permanent representative to the Organization of Islamic Cooperation will be officially re-opened on Tuesday and Wednesday,” Kanaani said earlier.

Kanaani added that the embassy in Riyadh and its consulate-general in Jeddah had already begun operating to help Iranian pilgrims heading to Saudi Arabia to perform Hajj, set to start by the end of June. The announcement comes after Tehran named Alireza Enayati as its ambassador to Saudi Arabia last month.

Under a Chinese-brokered deal reached in March, Saudi Arabia and Iran agreed to re-establish relations, which were severed in 2016 following an attack on the Saudi embassy in Tehran and consulate in Mashhad.