Pakistani security personnel guard a checkpoint in Quetta, Balochistan, after a blast in Mastung district that killed dozens of people. EPA
Pakistani security personnel guard a checkpoint in Quetta, Balochistan, after a blast in Mastung district that killed dozens of people. EPA
Pakistani security personnel guard a checkpoint in Quetta, Balochistan, after a blast in Mastung district that killed dozens of people. EPA
Pakistani security personnel guard a checkpoint in Quetta, Balochistan, after a blast in Mastung district that killed dozens of people. EPA

Pakistan security forces suffer highest casualty rate in eight years, report reveals


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A total of 386 personnel from Pakistan's security forces lost their lives in the first nine months of this year, the highest number of deaths in eight years, a report by the Pakistani think tank Centre for Research and Security Studies (CRSS) has found.

The report said security personnel accounted for 36 per cent of the 1,087 deaths resulting from violence in the nine-month period. They include 137 members of the Pakistan Army and 208 police officers.

The years 2015 and 2016 were previously considered to be the deadliest for Pakistan's security personnel, with 339 and 293 deaths respectively.

The report said Pakistan was grappling with “proxy terrorism” that was primarily affecting the regions of Khyber Pakhtunkhwa and Balochistan. In 2019, the two provinces accounted for 72 per cent of deaths due to violence. However, this figure has surged to nearly 92 per cent for the first nine months of 2023.

As many as 60 people lost their lives in a suicide bombing at an event commemorating the birth anniversary of the Prophet Mohammed in Balochistan's Mastung district on Friday.

On the same day, five people were killed and more than 10 were wounded in another attack by two suicide bombers at a police station mosque in Khyber Pakhtunkhwa’s Hangu district. Although no group has claimed responsibility for the bombings, security officials suspect the involvement of ISIS, which has launched similar attacks in the past.

This escalation in violence in Pakistan can be attributed to two primary factors: the Afghan Taliban’s return to power in Kabul in the year 2021 and the collapse of a ceasefire agreement between the government and the banned Tahrik-e-Taliban (TTP) last November.

Before the collapse of talks between the Pakistani government and the proscribed group last year, thousands of TTP members had already moved from their sanctuaries in Afghanistan into Pakistan, a development considered to be one of the reasons behind the increasing rate of militant attacks in the country.

The TTP on Sunday claimed responsibility for an attack on a police post in Punjab that killed one officer and injured three others.

The attack occurred in the Easa Khel area of Mianwali district, close to Khyber Pakhtunkhwa province, a spokesman for the Punjab Counter-Terrorism Department said.

Liaqat Ali said a group of 10 to 12 militants attacked the Kundal police post after midnight. A subsequent exchange of gunfire continued for hours, in which two of the attackers were killed and a third was wounded but escaped with the others, he said.

Pakistan’s Army Chief Gen Asim Munir, who visited Balochistan's main city of Quetta on September 30 after the Mastung attack, said terrorism was being sponsored by external state actors and there would be no let-up in operations against terrorists.

AUSTRALIA SQUAD

Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Glenn Maxwell, Ben McDermott, Kane Richardson, Steve Smith, Billy Stanlake, Mitchell Starc, Ashton Turner, Andrew Tye, David Warner, Adam Zampa

Schedule:

Pakistan v Sri Lanka:
28 Sep-2 Oct, 1st Test, Abu Dhabi
6-10 Oct, 2nd Test (day-night), Dubai
13 Oct, 1st ODI, Dubai
16 Oct, 2nd ODI, Abu Dhabi
18 Oct, 3rd ODI, Abu Dhabi
20 Oct, 4th ODI, Sharjah
23 Oct, 5th ODI, Sharjah
26 Oct, 1st T20I, Abu Dhabi
27 Oct, 2nd T20I, Abu Dhabi
29 Oct, 3rd T20I, Lahore

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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Director: Scott Cooper

Starring: Jeremy Allen White, Odessa Young, Jeremy Strong

Rating: 4/5

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List of officials:

Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.

Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.

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.”

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Updated: October 02, 2023, 1:21 PM