Pervez Musharraf: Former Pakistan president dies after long illness


  • English
  • Arabic

Pakistan's former military ruler Pervez Musharraf has died in Dubai, aged 79, after a long illness, the army said on Sunday.

Senior military chiefs "express heartfelt condolences on sad demise of General Pervez Musharraf", a brief statement released by the military's media wing said. "May Allah bless the departed soul and give strength to bereaved family."

Mr Musharraf, a four-star general who ruled Pakistan for nearly a decade after assuming power in 1999, spent his final years in self-imposed exile.

He passed away on Sunday morning, a representative for Pakistan's embassy in the UAE confirmed.

His body will be repatriated from Dubai on Monday, Pakistan's Geo TV reported.

Pakistani Prime Minister Shehbaz Sharif offered his condolences to Mr Musharraf's family in a short statement.

"May the departed soul rest in peace," he wrote on Twitter.

Leaders of the Pakistani Senate have also expressed their "deep sorrow and grief", while UAE rulers also sent their sympathies.

President Sheikh Mohamed sent a cable of condolences to President Arif Alvi over the death of Mr Musharraf.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, also sent his condolences.

In India, former diplomat and MP Shashi Tharoor said Mr Musharraf had been vital in stabilising relations between the two countries, which have fought four conflicts since their partition in 1947.

"Once an implacable foe of India, he became a real force for peace 2002-2007. I met him annually in those days at the UN and found him smart, engaging & clear in his strategic thinking. RIP," Mr Tharoor wrote on twitter.

Mr Musharraf held the presidency from 2001 until 2008, when he resigned in order to avoid impeachment after suspending the constitution and imposing a state of emergency in 2007.

He survived several assassination attempts during his time in office.

His family revealed in 2018 that he had been diagnosed with Amyloidosis, a rare disease that is caused by a build-up of an abnormal protein called amyloid in organs and tissues. He had travelled to Dubai two years earlier to seek medical treatment.

  • Pakistani Prime Minister Nawaz Sharif, left, flanked by army chief General Pervez Musharraf, on his way to address the army at Keil, close to the Line of Control, which divides Pakistan and Indian parts of Kashmir. AFP
    Pakistani Prime Minister Nawaz Sharif, left, flanked by army chief General Pervez Musharraf, on his way to address the army at Keil, close to the Line of Control, which divides Pakistan and Indian parts of Kashmir. AFP
  • Mr Musharraf addresses the nation on state television on October 17, 1999, saying that army rule would last no longer than necessary but without giving a clear timeframe. Reuters
    Mr Musharraf addresses the nation on state television on October 17, 1999, saying that army rule would last no longer than necessary but without giving a clear timeframe. Reuters
  • King Fahd Bin Abdul Aziz Al-Saud, right, and Crown Prince Abdullah, centre, of Saudi Arabia meet with Mr Musharraf in Riyadh on October 25, 1999. Reuters
    King Fahd Bin Abdul Aziz Al-Saud, right, and Crown Prince Abdullah, centre, of Saudi Arabia meet with Mr Musharraf in Riyadh on October 25, 1999. Reuters
  • Mr Musharraf with President Sheikh Zayed in Abu Dhabi on October 27, 1999. AFP
    Mr Musharraf with President Sheikh Zayed in Abu Dhabi on October 27, 1999. AFP
  • Mr Musharraf shakes hands with Pakistan's cricket team captain Wasim Akram in Lahore on December 24, 1999. AFP
    Mr Musharraf shakes hands with Pakistan's cricket team captain Wasim Akram in Lahore on December 24, 1999. AFP
  • Mr Musharraf is greeted by Cuban leader Fidel Castro at Havana's Palace of the Revolution on April 12, 2000. Reuters
    Mr Musharraf is greeted by Cuban leader Fidel Castro at Havana's Palace of the Revolution on April 12, 2000. Reuters
  • United Nations Secretary General Kofi Annan, left, meets with Mr Musharraf at the United Nations Millennium Summit in New York on September 7, 2000. Reuters
    United Nations Secretary General Kofi Annan, left, meets with Mr Musharraf at the United Nations Millennium Summit in New York on September 7, 2000. Reuters
  • Mr Musharraf reviews the Bedouin guard of honour on his arrival at Amman airport on January 8, 2001. Reuters
    Mr Musharraf reviews the Bedouin guard of honour on his arrival at Amman airport on January 8, 2001. Reuters
  • Lebanese Prime Minister Rafik Al Hariri reviews the honour guard with Mr Musharraf upon his arrival at Beirut airport on January 9, 2001. Reuters
    Lebanese Prime Minister Rafik Al Hariri reviews the honour guard with Mr Musharraf upon his arrival at Beirut airport on January 9, 2001. Reuters
  • Oman's ruler Sultan Qaboos with Mr Musharraf in Islamabad on April 22, 2001. Reuters
    Oman's ruler Sultan Qaboos with Mr Musharraf in Islamabad on April 22, 2001. Reuters
  • Mr Musharraf inspects an honour guard in Islamabad after taking the oath of office as Pakistan's new president on June 20, 2001, increasing his official stature ahead of his July 14 summit in India. Reuters
    Mr Musharraf inspects an honour guard in Islamabad after taking the oath of office as Pakistan's new president on June 20, 2001, increasing his official stature ahead of his July 14 summit in India. Reuters
  • Mr Musharraf receives a gift from President Sheikh Khalifa in Abu Dhabi on January 24, 2007. AFP
    Mr Musharraf receives a gift from President Sheikh Khalifa in Abu Dhabi on January 24, 2007. AFP
  • Mr Musharraf briefs media and supporters during a press conference in Dubai on March 24, 2013. Getty Images
    Mr Musharraf briefs media and supporters during a press conference in Dubai on March 24, 2013. Getty Images

The former president was hospitalised in June last year, when his family said his recovery from the condition was "not possible".

Mr Musharraf assumed power after ousting then prime minister Nawaz Sharif, who later backed Mr Musharraf's potential return to Pakistan when his health deteriorated.

He was a key US ally in the "war on terror" following the 9/11 attacks and allowed Washington access to Pakistani airspace and supply lines to fight the Taliban despite domestic opposition.

“General Musharraf faced many challenges but of them the three crises he navigated with much prudence were the aftermath of 9/11, the year-long Indian military mobilisation on the border with Pakistan and the AQ Khan affair," said Maleeha Lodhi, who served as Pakistan's ambassador to the US between 1999 and 2002.

Abdul Qadeer Khan, better known as AQ Khan, was known as the "father of Pakistan's atomic bomb" and was dismissed from his role as a senior government scientific adviser by Mr Musharraf after the US accused him of selling nuclear secrets to Iran and North Korea.

In 2019, Mr Musharraf was found guilty of high treason and sentenced to death in absentia for his imposition of emergency rule in 2007.

The sentence was quashed a month later after being deemed unconstitutional by Lahore's high court.

"He is called a military dictator, but there has never been a stronger democratic system than that under him," said Fawad Chaudhry, a former aide to Mr Musharraf and a senior leader of the Tehreeik-e-Insaf party.

"Pervez Musharraf led Pakistan at a very difficult time, and Pakistanis believe the era of his reign was one of the best in Pakistan's history," he said in a video message.

"He gave Pakistan a free media and he stressed on diversity of opinion in Pakistan. Pervez Musharraf, we will miss you."

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EShaffra%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2023%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDIFC%20Innovation%20Hub%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Emetaverse-as-a-Service%20(MaaS)%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3Ecurrently%20closing%20%241.5%20million%20seed%20round%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-seed%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%20Abu%20Dhabi%20and%20different%20PCs%20and%20angel%20investors%20from%20Saudi%20Arabia%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3Enine%3C%2Fp%3E%0A
Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M3%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%2FUSB-4%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206E%2C%20Bluetooth%205.3%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Midnight%2C%20silver%2C%20space%20grey%2C%20starlight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%2F35W%20dual-port%2F70w%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%2C%202%20Apple%20stickers%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C599%3C%2Fp%3E%0A
Company profile

Name: Tratok Portal

Founded: 2017

Based: UAE

Sector: Travel & tourism

Size: 36 employees

Funding: Privately funded

FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Updated: February 06, 2023, 4:25 AM