Arabian Sea
KARACHI/ISLAMABAD: In an intelligence based counter-narcotics operation, Pakistan Navy and ANF seized approximately 782 Kgs of narcotics at Arabian Sea.
The apprehended drugs were stowed in hidden compartments of a fishing boat that was successfully intercepted by a Pakistan Navy Ship.
The estimated value of seized narcotics is US$235 million in international market. Pakistan Navy, however, did not mention the value of seized drugs in Pakistani currency.
The seized drugs were subsequently handed over to ANF for further legal proceedings.
The successful execution of Anti-Narcotics Operation is a demonstration of
Pakistan Navy’s resolve to deter, dissuade and disrupt all illegal activities in the
maritime zones of Pakistan.
IFC doubles its investment in Pakistan
Meanwhile, the International Finance Corporation (IFC) doubled its investment in Pakistan to $1.5 billion in short and long-term investment. The IFC, a subsidiary of the World Bank, announced this in a press statement issued today.
The IFC’s commitment marked a doubling of its investments from the previous year amidst a backdrop of economic challenges in the country.
IFC’s projects in Pakistan now focus on providing much-needed jobs and increasing productivity in the private sector. The projects also enhance gender inclusion, and addressing the impacts of climate change.
Zeeshan Sheikh, IFC Country Manager for Pakistan and Afghanistan, said, “Our investment and advisory programs over the last fiscal year showcased IFC’s commitment towards helping realize the significant potential of Pakistan’s private sector.”
He further stated, “Moving forward, we want to increase our focus on facilitating access to finance, particularly for MSMEs. It includes sustainable & digital infrastructure and export-oriented industries that create jobs, driving the country’s economic growth.”
In the past year, IFC directed its investments towards agriculture and healthcare. In the agribusiness sector, IFC provided working capital to support local farmers and distributors.
dditionally, IFC supported Alliance Healthcare in expanding its Northwest Teaching Hospital and Northwest General Hospital. It made it the leading private healthcare provider in Khyber Pakhtunkhwa province.
