黑料社区

Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy

Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy
Pakistan Finance Minister Muhammad Aurangzeb speaks during a meeting with Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki at the office of the Ministry of Finance in Islamabad on September 11, 2024. (Photo courtesy: Finance Ministry)
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Updated 12 September 2024

Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy

Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy
  • Last month, Pakistan said it had secured commitments from China, 黑料社区 and UAE to roll over debt for a year
  • Debt rollovers will be a boost for Islamabad as it awaits final approval of a $7 billion IMF loan program signed in July

ISLAMABAD: Minister for Finance and Revenue Muhammad Aurangzeb met Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki on Wednesday and discussed joint ventures and business collaborations as well as steps Islamabad is taking as it navigates a tough reforms agenda mandated by the International Monetary Fund (IMF).
Pakistan and 黑料社区 enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as the top source of remittances to the cash-strapped South Asian nation.
In February 2019, Pakistan and 黑料社区 inked investment deals totaling $21 billion during a visit by Saudi Crown Prince Mohammed bin Salman to Islamabad. The agreements included about $10 billion for an Aramco oil refinery and $1 billion for a petrochemical complex at the strategic Gwadar Port in Balochistan.
Both countries have been working in recent months to increase bilateral trade and investment, and the Kingdom in April this year reaffirmed its commitment to expedite an investment package worth $5 billion for Pakistan.
鈥淎urangzeb expressed deep appreciation for 黑料社区鈥檚 consistent economic support to Pakistan, while highlighting the renewed interest shown by Saudi investors in pursuing joint ventures and business collaborations with Pakistan鈥檚 private sector,鈥 Radio Pakistan said on Thursday.聽
鈥淎urangzeb noted the significant outcomes of the high-level business delegation鈥檚 visit from 黑料社区 to Pakistan in May, aimed at exploring investment opportunities, expanding bilateral cooperation, and scaling up partnerships across diverse sectors.鈥
The minister also outlined Pakistan鈥檚 鈥減ositive鈥 economic trajectory, citing key indicators such as currency stabilization, reduced inflation, a surge in remittances, prudent management of the current account deficit and foreign exchange reserves sufficient to cover two months of imports.
鈥淭he Minister emphasized that structural reforms are pivotal for ensuring sustainable economic growth and stability, forming a cornerstone of the government鈥檚 policy agenda,鈥 Radio Pakistan said.聽
The report said Al-Malki 鈥渃ommended鈥 the government of Pakistan鈥檚 efforts in implementing structural and institutional reforms and reiterated the Kingdom鈥檚 鈥渦nwavering commitment to contributing to Pakistan鈥檚 economic growth.鈥
鈥淭he Ambassador also acknowledged the immense potential for investment and business opportunities between the two countries,鈥 Radio Pakistan said. 鈥淗e indicated that a Saudi business delegation is expected to visit Pakistan in the coming months to further explore areas for joint ventures and collaborative investments.鈥
Aurangzeb has said in recent weeks Pakistan will focus on meeting its external financing needs by speaking with foreign governments and lenders to draw foreign investment as well as seeking loan rollovers. The government is also seeking to focus on more sustainable forms of external financing such as direct investment and climate financing.
Pakistan and the IMF reached an agreement for a new 37-month $7 billion loan program in July. The IMF has said the program is subject to approval from its executive board and obtaining 鈥渢imely confirmation of necessary financing assurances from Pakistan鈥檚 development and bilateral partners.鈥
Last month, Bloomberg reported Pakistan had secured commitments from China, 黑料社区 and the United Arab Emirates to roll over debt for a year, a boost for Islamabad as it awaits final approval of the IMF loan program.
Rollovers or disbursements on loans from Pakistan鈥檚 long-time allies, in addition to financing from the IMF, have helped Pakistan meet its external financing needs in the past.
Tough conditionalities placed by the IMF, such as raising tax on agricultural incomes and lifting electricity prices, have unleashed street protests and prompted concerns about poor and middle class Pakistanis grappling with rising inflation and the prospect of higher taxes.


Pakistan says Israel鈥檚 plan to take control of Gaza 鈥榝lagrant鈥 violation of international law

Pakistan says Israel鈥檚 plan to take control of Gaza 鈥榝lagrant鈥 violation of international law
Updated 5 sec ago

Pakistan says Israel鈥檚 plan to take control of Gaza 鈥榝lagrant鈥 violation of international law

Pakistan says Israel鈥檚 plan to take control of Gaza 鈥榝lagrant鈥 violation of international law
  • Israel鈥檚 cabinet this week approved a plan to take control of Gaza, drawing outrage from Muslim states worldwide
  • Deputy PM Ishaq Dar, Turkish FM express 鈥済rave concern鈥 at humanitarian situation in Gaza, says Pakistan鈥檚 foreign office聽

ISLAMABAD: Pakistan鈥檚 Deputy Prime Minister Ishaq Dar on Sunday condemned Israel鈥檚 plan to take control of Gaza city, saying it was a 鈥渇lagrant violation鈥 of international law. 

After a security cabinet meeting on Friday, Israeli PM Benjamin Netanyahu鈥檚 office confirmed a plan to take over Gaza had been approved. A statement said the Israeli Defense Forces would prepare to take control of Gaza while providing humanitarian aid to the civilian population outside the combat zones.

The move drew a sharp reaction from several countries around the world, including Pakistan, while UN human rights chief Volker Turk this week called on Israel to immediately halt its plan. 

鈥淭he DPM/FM condemned the Israeli plan for a complete military takeover, calling it a flagrant violation of international law and UNSC resolutions,鈥 the Pakistani foreign office said in a statement. 

Dar, who also serves as Pakistan鈥檚 foreign minister, was speaking to his Turkish counterpart Hakan Fidan over the telephone on Saturday night. 

Both leaders reviewed the Pakistan鈥揟眉rkiye bilateral cooperation and exchanged views on current regional and international developments, the foreign office said. 

The two diplomats expressed 鈥済rave concern鈥 at the humanitarian situation in Gaza, the Pakistani foreign office added. 

鈥淗e [Dar] also stressed the urgent need for providing unimpeded humanitarian assistance, and an end to Israeli impunity,鈥 the statement concluded. 

Israeli restrictions on the entry of supplies into Gaza since Israel began its military operations there nearly two years ago have led to shortages of food and essential supplies, including medicine and fuel, which hospitals require to power their generators.

Israel鈥檚 offensives have killed more than 61,000 Palestinians since Oct. 7, 2023, according to Hamas-run Gaza鈥檚 health ministry, whose figures the United Nations says are reliable.


Pakistan army chief meets senior American political, military leadership during US visit

Pakistan army chief meets senior American political, military leadership during US visit
Updated 59 min 2 sec ago

Pakistan army chief meets senior American political, military leadership during US visit

Pakistan army chief meets senior American political, military leadership during US visit
  • Syed Asim Munir attends retirement ceremony of former CENTCOM chief General Michael E. Kurilla
  • Pakistan鈥檚 powerful military plays a central role in shaping the country鈥檚 foreign and security policies

ISLAMABAD: Pakistan鈥檚 army chief Field Marshal Syed Asim Munir has engaged with senior American military and political leadership during his ongoing visit to the United States, the military鈥檚 media wing said on Sunday, as Islamabad seeks closer defense and security ties with Washington. 

The development takes place as Pakistan eyes greater collaboration with the US under President Donald Trump. After years of strained relations, mainly over counter鈥憈errorism disagreements, both nations appear keen to rebuild military and economic ties under the new American administration.

鈥淔ield Marshal Syed Asim Munir, NI (M), Chief of Army Staff (COAS), is undertaking an official visit to the United States,鈥 the Inter-Services Public Relations (ISPR), the military鈥檚 media wing, said in a statement.

鈥淒uring the visit, he has engaged in high-level interactions with senior political and military leadership, as well as members of the Pakistani diaspora.鈥

In Tampa, the Pakistan army chief attended the retirement ceremony of outgoing United States Central Command (CENTCOM) Commander General Michael E. Kurilla, and the change of command ceremony that marked the assumption of command by Admiral Brad Cooper, his successor, the military鈥檚 media wing said.

Munir lauded General Kurilla鈥檚 leadership and his contributions to strengthening bilateral military cooperation between Pakistan and the US.

He extended his best wishes to Admiral Cooper, expressing confidence in continued collaboration to address shared security challenges, the ISPR added. 

The Pakistani army chief also met US Chairman Joint Chiefs of Staff General Dan Caine, where matters of mutual professional interest were discussed, the military鈥檚 media wing said.

鈥淥n the sidelines, COAS interacted with Chiefs of Defense from friendly nations,鈥 the statement added, without mentioning the names of the countries. 

Munir鈥檚 engagements included an interaction with the Pakistani diaspora in the US, during which the army chief urged them to 鈥渞emain confident in Pakistan鈥檚 bright future and to actively contribute to attracting investments.鈥

鈥淭he diaspora reaffirmed their commitment to supporting Pakistan鈥檚 progress and development,鈥 the ISPR said. 

Munir鈥檚 visit to the US signifies growing closeness between Pakistan and the US. This is the Pakistan army chief鈥檚 second visit to the country since June, when Trump hosted him for an unprecedented lunch at the White House. 

Both leaders discussed the tensions in the Middle East, particularly the then Iran-Israel military conflict. 

Under Trump鈥檚 renewed outreach, Washington has praised Pakistan鈥檚 leadership and reinstated military cooperation previously curtailed over Afghanistan-related concerns. Islamabad, in turn, seeks to balance its longstanding partnership with China, including arms supply and defense infrastructure, with growing engagement with the US. 

Both countries last week finalized a trade deal according to which the US will charge a 19 percent tariff on imports from Pakistan, compared to a 29 percent reciprocal tariff announced in April that had raised alarm in Islamabad.

Separately, Trump highlighted a partnership with Pakistan to develop the country鈥檚 oil reserves. 

Pakistan鈥檚 powerful military, which has ruled the country directly for nearly half of its history and holds sway in political matters even when not in power, plays a central role in shaping its foreign and security policies.


Over 60,000 expected to attend 鈥楨mirates Loves Pakistan鈥 celebrations in Dubai today

Over 60,000 expected to attend 鈥楨mirates Loves Pakistan鈥 celebrations in Dubai today
Updated 10 August 2025

Over 60,000 expected to attend 鈥楨mirates Loves Pakistan鈥 celebrations in Dubai today

Over 60,000 expected to attend 鈥楨mirates Loves Pakistan鈥 celebrations in Dubai today
  • Public event to mark Pakistan鈥檚 78th Independence Day will be held at Dubai Exhibition Center in Expo City
  • Singers Sahir Ali Bagga, Sufi singer Natasha Baig and storyteller Yousuf Bashir Quresh to perform at event

ISLAMABAD: At least 60,000 participants are expected to attend a public celebration event marking Pakistan鈥檚 78th Independence Day in Dubai today, Sunday, the UAE鈥檚 official news agency said. 

The event titled 鈥楨mirates Loves Pakistan鈥 will be held at the Dubai Exhibition Center in Expo City and will be attended by Sheikh Nahyan bin Mubarak Al Nahyan, the UAE鈥檚 minister of tolerance and coexistence, alongside Faisal Niaz Tirmizi, Pakistan鈥檚 ambassador to the UAE, WAM reported. 

Diplomats, economic representatives and 鈥渘otable social figures鈥 from the Pakistani community in the country will also be at the event, which WAM said is being organized by 鈥楨mirates Loves Pakistan鈥 鈥 a platform dedicated to sharing content that highlights the success stories and contributions of the Pakistani community in the UAE, in collaboration with the Pakistan Association in Dubai, with support from Dubai Police.

鈥淭he occasion will feature activities reflecting the cultural heritage, arts, and folklore of Pakistan, as well as acknowledging the historical relations and diplomatic ties between the two nations,鈥 WAM said in a report on Saturday. 

鈥淭he event, expected to draw approximately 60,000 attendees, will include a ceremony to acknowledge distinguished members of the Pakistani community in the UAE, accompanied by cultural performances, artistic exhibitions, musical presentations, and traditional folklore activities,鈥 it added.

The program will also include events to highlight Pakistan鈥檚 traditions, the contributions of the Pakistani community to the UAE鈥檚 sustainable development, and a recognition of their achievements, it added. 

The event will also include live performances by Pakistani singing powerhouses Sahir Ali Bagga, Sufi rock sensation Natasha Baig, and renowned storyteller Yousuf Bashir Qureshi.

Pakistan marks its Independence Day each year on August 14 to celebrate the day it secured independence from British rule in India. Pakistan embassies across the world hold special events marking the significance of independence while special programs are held across the country to mark the occasion. 

The UAE is Pakistan鈥檚 third-largest trading partner after China and the US, and is considered a critical market due to its geographic proximity and logistical advantages.

The Gulf state is also Pakistan鈥檚 second-largest source of foreign remittances, after 黑料社区, with over 1.8 million Pakistani expatriates living and working there.


Pakistan receives over 71,000 Hajj applications in first submission round

Pakistan receives over 71,000 Hajj applications in first submission round
Updated 10 August 2025

Pakistan receives over 71,000 Hajj applications in first submission round

Pakistan receives over 71,000 Hajj applications in first submission round
  • Next application window runs August 11-16, will include unregistered intending pilgrims
  • Overseas Pakistanis can also apply through a close relative at any designated bank branch

ISLAMABAD: Pakistan鈥檚 Ministry of Religious Affairs has received more than 71,000 applications in the first phase of Hajj form submissions, state-run Associated Press of Pakistan (APP) reported on Saturday, citing a senior official.

Pakistan has a Hajj quota of 179,210 pilgrims for 2026, with 129,210 seats allocated for the government scheme and the rest for private tour operators.

Under the government scheme, pilgrims can choose between a long package of 38 to 42 days or a short package of 20 to 25 days, with costs estimated between Rs1.15 million and Rs1.25 million ($4,050-$4,236).

鈥淭he next phase will run from August 11 to 16, during which applications will be accepted along with the first installment of expenses,鈥 the ministry鈥檚 spokesperson, Muhammad Umar Butt, said, according to APP. 鈥淚n this stage, unregistered intending pilgrims will also be eligible to apply.鈥

The report said overseas Pakistanis can also apply through a close relative at any designated bank branch and will be required to provide medical fitness certificates upon arrival in Pakistan.

The official also said the ministry would stop accepting applications immediately once the allocated quota is filled.

黑料社区 approved the same overall quota for Pakistan in 2025, but a significant portion of the private allocation went unused due to delays by tour operators in meeting payment and registration deadlines, while the government fulfilled its share of over 88,000 pilgrims.

Private operators blamed the shortfall on technical issues, including payment processing and communication problems.


Tribal elders in Pakistan鈥檚 northwest urge Afghanistan talks for peace, reopening of trade routes

Tribal elders in Pakistan鈥檚 northwest urge Afghanistan talks for peace, reopening of trade routes
Updated 09 August 2025

Tribal elders in Pakistan鈥檚 northwest urge Afghanistan talks for peace, reopening of trade routes

Tribal elders in Pakistan鈥檚 northwest urge Afghanistan talks for peace, reopening of trade routes
  • KP administration has been hosting regional jirgas amid escalating militant violence in the province
  • The latest one brought together tribal elders from Kurram, a region known for violent tribal clashes

PESHAWAR: Tribal elders from Pakistan鈥檚 northwestern Kurram region on Saturday called for negotiations with Afghanistan and the opening of cross-border trade routes during a consultative gathering arranged by the Khyber Pakhtunkhwa provincial administration to discuss the overall security situation in the region.

Chief Minister Ali Amin Khan Gandapur has launched a series of regional jirgas, or tribal councils, to deliberate on issues affecting the province, particularly its tribal districts, amid a surge of militant violence and counter-operations by security forces. The gatherings bring together tribal elders, local lawmakers and officials to find a way out of the current security situation in the area.

The last in the series brought together influential figures from Upper, Central and Lower Kurram, a former semi-autonomous tribal area bordering Afghanistan with a long history of violent conflicts that have claimed hundreds of lives. Last year alone, tribal clashes along sectarian lines in the district persisted for months, killing more than 100 people and displacing many more.

鈥淔or a permanent solution to the problem, a powerful council comprising federal and provincial governments, security agencies and local tribal elders should be formed to hold negotiations with Afghanistan, because Kurram鈥檚 peace is linked to Afghanistan,鈥 the jirga said in its recommendations.

鈥淭rade routes should be opened with Afghanistan to provide employment to the area鈥檚 residents,鈥 it added.

Much of the country鈥檚 northwestern tribal belt has a narrow economic base, historically dependent on cross-border movement. Traditionally, residents of the areas crisscrossed between what is now Pakistan and Afghanistan, with tribal communities spread across both sides of the frontier.

Past efforts to launch livelihood projects in the area have also had limited impact.

Participants of Saturday鈥檚 jirga expressed appreciation for the provincial government鈥檚 efforts to restore stability in Kurram.

They said the residents of the district were united for peace and pledged to assist the government in any way necessary to maintain it.

鈥淧eace is our basic need,鈥 the jirga statement said. 鈥淚f there is peace, there will be development.鈥

It added the people of Kurram opposed 鈥渁ll forms of terrorism鈥 and stood by the government in efforts to counter it.

The gathering was also attended by provincial and national legislators from the district along with administrative and law enforcement officials.