Bhargav Reddy – APAC Assistance Operations Assistant
Major Issues In SOUTH ASIA
Tuesday, 26 March 2019
Pakistan Peoples Party leads a protest march. The Pakistan Peoples Party has launched a protest march against the government from Karachi today. The symbolic march will commence from Karachi’s Cantonment Railway Station and proceed to Larkana where they will have a political rally. The party has planned several political events along the way. The protest march comes after the party leaders, Bilawal and Asif Ali Zardari were called-in for questioning by the National Accountability Bureau in corruption cases against them. Clients are advised to avoid all political and religious event in Pakistan.
China transfer USD 2.2 billion. China has transferred USD 2.2 billion in new loans to the State Bank of Pakistan as part of the economic assistant package. Pakistan’s debt to China has been mounting primarily from infrastructure projects under the China-Pakistan Economic Corridor (CPEC) and the total debt is reportedly more than USD 60 billion. The CPEC has been under attack by regional separatist groups in Baluchistan and the Chinese troops have been reportedly deployed to protect the projects from insurgent attacks. The new loan is likely to help Pakistan with the depleted foreign exchange reserves.
Iranian vessel caught with heroin. An Iranian vessel was detained by the Sri Lankan Navy this week off the southern coast of the country. The vessel was escorted to Colombo harbor. Authorities recovered more than 100 kg of heroin worth more than USD 1 billion. Authorities have detained nine Iranians nationals. The vessel reportedly arrived from Pakistan when it was detected and detained in the southern seas. Investigators suspect that the vessel is linked to the underworld kingpin Makandure Madush who was detained in Dubai recently