ISLAMABAD // The controversies surrounding Abdul Qadeer Khan, the Pakistani scientist who confessed to having run the world's largest nuclear proliferation network, refuse to go away.
The latest episode in the saga of the disgraced scientist, hailed in Pakistan as the "father of the atomic bomb", concerns a letter Mr Khan wrote to his family in 2003, details of which were made public in the British Sunday Times newspaper last week.
However, it remained unclear why the letter, which he wrote before he was put under house arrest, was published now and whether it was done at Mr Khan's own prompting.
The four-page letter is a scathing indictment of the Pakistani military's top brass, as Mr Khan alleges that generals made money out of proliferation activities and treated Mr Khan as an expendable pawn.
The scientist also alleges that Benazir Bhutto, the former prime minister assassinated in December 2007, asked him to provide nuclear information to North Korea through a military general.
A "retired Pakistani general took $3 million through me from the North Koreans and asked me to give some drawings and machines", Mr Khan wrote.
Mr Khan has publicly refused to comment on the letter and the government has refrained from commenting. Pakistan has long maintained that Mr Khan acted alone in his proliferation activities and did not receive any state support.
"We have said consistently that we have real concerns about Mr AQ Khan. We believe that he remains a risk for proliferation," a US state department spokesman said last week.
In the letter, addressed to his wife, Henny, the scientist accuses the Pakistani military of using him as a scapegoat.
"They might try to get rid of me to cover up all the things they got done by me," the letter reads.
In the letter, he also wrote that the Chinese had warned him that the military would discard him after he completed his nuclear work.
A metallurgist by training, Mr Khan confessed to his involvement in nuclear proliferation in an emotional public apology that was televised in February 2004. He was pardoned by Pervez Musharraf, the president, but was immediately placed under house arrest.
Known for relishing media attention, Mr Khan poses a unique dilemma for the Pakistani security establishment.
There have been concerns that his public interviews would compromise national security and put the government and military in embarrassing and awkward situation
Mr Khan's popularity cuts across a vast swath of public opinion as he is adored by nationalists, right-wing Islamists and opposition political parties that find continued restrictions on his movements a convenient cudgel with which to beat the government. "Love him or hate him, the problem with Khan is that he is a loose cannon and seems bent on trying to settle scores with Musharraf personally or the nuclear establishment generally through the media", wrote columnist Cyril Almeida in Dawn, the country's most prestigious daily, on Friday.
Almeida suggested that a concerted public campaign is needed to put Mr Khan's role in the "correct perspective".
"Unmask the 'father of the bomb' and diminish, accurately, his role and he may choose to stay quiet himself. After all, if one thing is certain it is that Khan is a man with a big ego. Hack away at his standing in the domestic public eye, and he may choose to live out his days in quiet retirement. And that way maybe the country can get on with debating the more serious issues," Almeida wrote.
But this may prove easier said than done.
An orchestrated public campaign, led first by the Pakistani government in the 1980s and later financed by Mr Khan himself, has cemented his standing in the national psyche as the man solely responsible for making Pakistan a nuclear power.
At a time when the country remains gripped by conspiracy theories that the West is bent upon denuclearising Pakistan, any attempts by the government to muzzle Mr Khan would probably prove to be hugely unpopular.
foreign.desk@thenational.ae
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
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.”
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Inside%20Out%202
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EKelsey%20Mann%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%C2%A0Amy%20Poehler%2C%20Maya%20Hawke%2C%20Ayo%20Edebiri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4.5%2F5%3C%2Fp%3E%0A
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A