US to slash Pakistan’s defence aid to $ 150 million

Agencies
August 2, 2018

Washington, Aug 2: Amidst tensions in bilateral ties, the US Congress has passed a defence spending bill capping its security-related aid to Pakistan at USD 150 million, significantly below the historic level of more than USD one billion per year.

The National Defense Authorisation Act-2019 (NDAA-19), however, removes certain conditions – like action against Haqqani Network orthe Lashkar-e-Taiba (LeT) -- as was the case in the past few years for disbursement of US aid to Pakistan.

The Senate passed the conference report on NDAA-19 by 87 to 10 votes yesterday afternoon. The House of Representatives had passed the conference report last week. It now heads to the White House for President Donald Trump's assent.

"The legislation reduces the total amount of funds provided for reimbursement to Pakistan to USD 150 million. This is a significant reduction from the USD 700 million that was authorised through Coalition Support Fund (CSF) last year," Anish Goel, who was part of Barack Obama's White House National Security Council, told PTI.

However, in doing so, the legislation gets rid of the certification requirements for Pakistan's action against the Haqqani Network and it also gets rid of the authority to reimburse Pakistan for counter-terrorism, he said.

"Hence, the Pentagon no longer has any tools to put pressure on Pakistan to undertake counter-terrorism activities or action against the Haqqani Network," Goel, who till recently was a senior staffer in the Senate Armed Services Committee, said.

During the previous Obama administration, Pakistan used to get nearly 1.2 billion aid from the US under the Enhanced Partnership with Pakistan Act of 2009 also known as the Kerry-Lugar-Berman Act.

US President Donald Trump since assuming office has been tough on Pakistan over its inaction against terror groups. Trump in August last year unveiled his new South Asia policy and asked Pakistan to do more against such groups.

The US in January suspended more than USD 1.15 billion security assistance to Pakistan, accusing it of harbouring terror groups like the Afghan Taliban and the Haqqani Network within its border and showing unwillingness to take "decisive actions" against them.

The US has also voiced its disapproval of growing Chinese involvement in Pakistan, adding to tensions in bilateral ties. US Secretary of State Mike Pompeo on Monday had cautioned the IMF against a possible fresh bailout for Pakistan's new government to pay off Chinese lenders who have invested in the strategic China-Pakistan Economic Corridor.

Joshua White, who was also a part of Obama's White House National Security Council team and worked on Pakistan, said this year's defense legislation significantly reduces the amount of security assistance that Pakistan can theoretically receive outside of traditional Foreign Military Financing.

"It makes Pakistan ineligible for Coalition Support Funds (CSF), but adds Pakistan to a list of countries that can receive a related form of assistance designed to help partner nations bolster border security," White told PTI and observed, "This legislation is a mixed blessing for Pakistan."

"On one hand, these new border security funds will be capped at USD 150 million per year, significantly below historical levels of CSF. On the other hand, the legislation does away with the onerous reporting requirements and certifications that have, in practice, made it difficult for Pakistan to receive such funds," he said.

The former White House official noted that it is important to consider this legislation in the current political context.

The Trump administration has effectively frozen security assistance to Pakistan, and this new legislation will do nothing in the short-term to change that, he said.

"It does, however, mean that if the administration decides to resume some form of modest security assistance in the future, it will be authorised by the Congress to do so without having to produce detailed reports and make difficult certifications regarding Pakistan's support vis-a-vis the Haqqani Network and other threats to the United States," White said.

"Over the longer term, that could prove to be a win for Pakistan," he said, while noting that in theory, the new funding authority does not permit counter-terrorism assistance, but only assistance related to border security.

"In practice, these terms are so malleable that I do not expect that the Pentagon would find itself very limited as to the kind of support it could provide," White said.

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News Network
July 4,2020

Maryland, Jul 4: The total number of coronavirus cases worldwide has touched 11 million, according to the latest data by the Johns Hopkins University on Saturday.
More than 523,613 people have died globally due to the infection, according to the data compiled by the university.

Though the virus is believed to have emerged from the Chinese city of Wuhan, the United States is the worst-hit country from COVID-19, which was declared as a pandemic by the WHO on March 11.

At least 129,275 people have died in the US from the coronavirus, according to Johns Hopkins University's latest tally.
There are at least 2,786,178 cases of the disease in the country. The US has the highest number of cases in the world.

The second worst-hit country is Brazil, which has reported 1,496,858 lakh cases. The country's death toll stands at 61,884.

The countries around the world including the US, India, Denmark, and Italy have started the process of lifting the lockdown by easing restrictions despite the number of cases continues to rise.

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Agencies
March 25,2020

Beijing:  Around 5,000 people have signed up for the phase I clinical trial of recombinant novel coronavirus vaccine in Chinese city Wuhan where the virus first emerged late last year.

The recruitment for participants ended this week with nearly 5,000 volunteers signing up for the trial, state-run Beijing News reported on Wednesday.

A single-centre, open and dose-escalation phase I clinical trial for recombinant novel coronavirus vaccine (adenoviral vector) will be tested in healthy adults aged between 18 and 60 years, according to the ChiCTR (China Clinical Trial Register).

The trial, led by experts from the Academy of Military Medical Sciences, gained its approval on March 16 and the research is expected to last half a year.

Requiring at least 108 participants, the trial will be conducted in Wuhan, capital of Hubei province, the region worst-affected by the virus in the country, state-run China Daily reported.

Participants will experience 14-day quarantine restrictions after being vaccinated and their health condition will be recorded every day.

Chinese scientists are hastening the development of COVID-19 vaccines through five approaches --- inactivated vaccines, genetic engineering subunit vaccines, adenovirus vector vaccines, nucleic acid vaccines and vaccines using attenuated influenza virus as vectors.

So far, most teams are expected to complete preclinical research in April and some are moving forward faster, Wang Junzhi, an academician with the Chinese Academy of Engineering said.

Wang noted that research and development of COVID-19 vaccines in China is not slower than foreign counterparts and has been carried out in a scientific, standardised and orderly way.

China has stepped up the process to finalise vaccines to counter COVID-19 after Kaiser Permanente research facility in Seattle and Washington stole the march and began human trials.

China lifted tough restrictions on the Hubei province on Wednesday after a months-long lockdown as the country reported no new domestic cases.

But there were another 47 imported infections from overseas, the National Health Commission said. In total, 474 imported infections have been diagnosed in China -- mostly Chinese nationals returning home.

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News Network
June 2,2020

Jun 2: A new female billionaire has emerged from one of Asia's most-expensive breakups.

Du Weimin, the chairman of Shenzhen Kangtai Biological Products Co., transferred 161.3 million shares of the vaccine maker to his ex-wife, Yuan Liping, according to a May 29 filing, immediately catapulting her into the ranks of the world's richest.

The stock was worth $3.2 billion as of Monday's close.

Yuan, 49 this year, owns the shares directly, but signed an agreement delegating the voting rights to her ex-husband, the filing shows. The Canadian citizen, who resides in Shenzhen, served as a director of Kangtai between May 2011 and August 2018. She's now the vice general manager of subsidiary Beijing Minhai Biotechnology Co. Yuan holds a bachelor's degree in economics from Beijing's University of International Business and Economics.

Kangtai shares have more than doubled in the past year and have continued their ascent since February, when the company announced a plan to develop a vaccine to fight the coronavirus. They slipped for a second day Tuesday following news of the divorce terms, losing 3.1% as of 9:43 a.m. in Hong Kong and bringing the company's market value to $12.9 billion.

Du's net worth has now dropped to about $3.1 billion from $6.5 billion before the split, excluding his pledged shares.

The 56-year-old was born into a farming family in China's Jiangxi province. After studying chemistry in college, he began working in a clinic in 1987 and became a sales manager for a biotech company in 1995, according to the prospectus of Kangtai's 2017 initial public offering. In 2009, Kangtai acquired Minhai, the company Du founded in 2004, and he became the chairman of the combined entity.

China's rapidly growing economy has been an engine for the country's richest, and Du is not the only tycoon who's had to pay a steep price for a divorce. In 2012, Wu Yajun, at one point the nation's richest woman, transferred a stake worth about $2.3 billion to her ex-husband, Cai Kui, who co-founded developer Longfor Group Holdings Ltd. In 2016, tech billionaire Zhou Yahui gave $1.1 billion of shares in his online gaming company, Beijing Kunlun Tech Co., to ex-wife Li Qiong after a civil court settlement.

Sometimes, a goodbye can be time-consuming too. South Korean tycoon Chey Tae-won's wife filed a lawsuit in December asking for a 42.3% stake in SK Holdings Co. valued at $1.2 billion. That would make her the second-largest shareholder of the company should she win the case, which is still ongoing.

The most expensive divorce in history is that of Jeff and MacKenzie Bezos. The Amazon.com Inc. founder gave 4% of the online retailer to Mackenzie, who now has a $48 billion fortune and is the world's fourth-richest woman.

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