Brownstein to lobby for Pakistan


New Delhi, Nov 18 | The Pakistani government has brought on a team of lobbyists from Brownstein Hyatt Farber Schreck, including former Senator Mark Begich, to represent its interests in Washington amid the ongoing humanitarian fallout of the U.S withdrawal from Afghanistan, Politico reported.

Brownstein’s contract with the Pakistani Embassy is worth $100,000 per month, to be paid quarterly, the report said.

It comes as Pakistan has continued to engage with US, Russia and China in the wake of the pullout of US troops from Afghanistan and the Taliban’s subsequent takeover, the Politico report said.

Representatives from those countries, or the extended troika, met last week in Islamabad to discuss what they described in a joint statement as a “severe humanitarian and economic situation in Afghanistan”.

The extended Troika also met with Taliban leaders on the sidelines of those talks, where they called on the Taliban to allow “unhindered humanitarian access” and pushed for the restoration of rights for women and girls.

In a statement, Brownstein spokesperson Lara Day said that the firm will work to “forge stronger Pakistan-US bilateral relations” following the withdrawal, which she contended is “essential to regional peace and stability, strong counterterrorism efforts, and promotion of economic growth and trade”.

Day noted that Pakistan is also “at the crossroads of developments in and between Iran and China, making it strategically important to both the US and European partners”, the report added.

Source: IANS

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Share Market Closing Bell: Market ends marginally lower amid volatility

Share Market Closing Bell: Market ends marginally lower amid volatility

Dalal Street witnessed tug of war between bulls and bears as Sensex settled at 54208.53 losing 109 points or 0.20 percent and Nifty ended at 16240.30 with loss of 19 points. Bank nifty closed the session at 34163.70 levels with loss of 138 point after erasing early session gain.

BSE Midcap and BSE Small cap indices turned flat after rising around half a percent each. On the sectorial front, Nifty Pharma and FMCG have contributed a percent each on a closing basis. On the flip side Nifty Realty, Nifty PSE ended with losses of 1.75 percent and 1.73 respectively. In Nifty stocks, TATACONSUM, CIPLA and ADANI PORT were the top gainers while POWERGRID, BPCL and TECHM were the prime laggards.

In the daily chart Nifty has ended with a bearish candle. However 16200 levels are protected throughout the day. Index might face high volatility on weekly expiry day. Riding against the trend may not be beneficial for short term traders. According to volume profile 16100 and 16000 may act as immediate support.

Indicators such as MACD and RSI are still struggling to overcome from oversold zone in the daily time frame. From the time cycle prospect Index would remain highly volatile till 27th May of this month. Bollinger band indicates 16650 would remain strong resistance in coming days. On the other hand, Bank nifty has support at 33400 levels while resistance at 35000 levels.

Om Mehra
Research Associate
Choice Broking

Source: Choice India


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