黑料社区

黑料社区 offers 15%聽investment in Pakistan鈥檚 Reko Diq mining venture

黑料社区 offers 15%聽investment in Pakistan鈥檚 Reko Diq mining venture
Empty trailers to house workers at the site of the gold and copper mine exploration project of Tethyan Copper Company (TCC) are seen in Reko Diq in Pakistan's province of Balochistan in this undated 2010 photo. (Reuters/File)
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Updated 14 September 2024

黑料社区 offers 15%聽investment in Pakistan鈥檚 Reko Diq mining venture

黑料社区 offers 15%聽investment in Pakistan鈥檚 Reko Diq mining venture
  • Reko Diq in Pakistan鈥檚 southwest is considered one of the world鈥檚 largest undeveloped copper and gold resources
  • State-owned media says Pakistan expects up to $5 billion of Saudi investment in mining, agriculture by June 2025

ISLAMABAD: 黑料社区 has offered a 15 percent investment in the Reko Diq copper and gold mine project in Pakistan鈥檚 southwestern Balochistan province, according to Pakistani state-owned media on Saturday.
Reko Diq is considered one of the world鈥檚 largest undeveloped copper and gold resources, primarily operated by Canada鈥檚 Barrick Gold, which holds a 50 percent stake in it.
The remaining stake is owned by three federal state-owned enterprises and the Balochistan provincial government, though Pakistan has also invited 黑料社区 to invest in the project.
鈥満诹仙缜 has offered fifteen percent investment in Reko Diq Mining project,鈥 the Radio Pakistan said in one of its reports. 鈥淭he Kingdom has also offered grants to build road infrastructure around the Reko Diq project.鈥
鈥淪pecial Investment Facilitation Council (SIFC) has approved the structure of the offer but the final decision has been left to the Cabinet Committee on Intergovernmental Transactions,鈥 it added.
Pakistan set up the SIFC, a civil-military hybrid body, last year in June with the sole purpose of reviving the frail national economy, dented by low foreign exchange reserves, currency depreciation and record inflation.
Barrick Gold鈥檚 top official, Mark Bristow, has also acknowledged the Saudi interest in the project, saying his company would not dilute its equity.
However, he added that Barrick Gold would not oppose any decision by the Pakistan government to sell part of its stake to Saudia Arabia.
Radio Pakistan said the government in Islamabad expects up to $5 billion investment in the mining and agriculture sector by June next year.


EU imposes measures to curb ethanol imports from Pakistan

EU imposes measures to curb ethanol imports from Pakistan
Updated 20 June 2025

EU imposes measures to curb ethanol imports from Pakistan

EU imposes measures to curb ethanol imports from Pakistan
  • Pakistan became the EU鈥檚 top source of non-fuel ethanol in 2024, supplying over a quarter of total imports
  • EU ethanol producers welcomed the new two-year measure, though many had hoped for a three-year term

PARIS: The European Commission has ended tariff preferences for non-fuel ethanol imports from Pakistan, answering EU ethanol makers鈥 calls that a surge in cheap imports from the Asian country was pressuring prices and disturbing markets.

Last year, ethanol imports from Pakistan accounted for more than a quarter of all non-fuel ethanol imports, making Pakistan the largest source of imports to the EU, the Commission said in its decision published in the EU鈥檚 Official Journal on Friday.

The rise in total ethanol imports has been lasting for several years with EU customs data showing imports of non-fuel ethanol into the EU nearly doubling between 2021 and 2024 to reach 726,000 metric tons in 2024, from about 376,000 tons in 2021, it said.

Of this, Pakistani ethanol imports jumped by almost 300 percent to 393,590 tons between 2021 and 2022 and were still 244 percent above 2021 imports in 2023.

Meanwhile, EU non-fuel ethanol output dropped. Last year it was 8 percent lower than in 2021, it said.

The data and information available showed a coincidence in time between the evolution of imports from Pakistan and the serious disturbance to Union markets, the Commission said.

鈥淭he Commission considers that there is evidence of a serious disturbance in the Union market for non-fuel ethanol, characterised by a significant increase in imports at significantly lower prices compared to Union producers and a decline in Union production,鈥 it said.

EU ethanol makers welcomed the move, set to last two years, although they had hoped for three-year duration and said the fact it did not include ethanol used in fuel raised concerns over potential circumvention.


Pakistan reports new polio case in northwest, raising 2025 tally to 12

Pakistan reports new polio case in northwest, raising 2025 tally to 12
Updated 20 June 2025

Pakistan reports new polio case in northwest, raising 2025 tally to 12

Pakistan reports new polio case in northwest, raising 2025 tally to 12
  • Pakistan and Afghanistan remain the only countries where polio is still endemic
  • Pakistan reported 74 cases in 2024, raising alarm over a possible resurgence

KARACHI: Pakistan鈥檚 polio eradication program on Friday said a new wild poliovirus case had been detected in the country鈥檚 northwestern Khyber Pakhtunkhwa province, bringing the total tally of 2025 cases to 12.

Polio is a paralyzing disease with no cure, making prevention through vaccination critical. Multiple doses of the oral polio vaccine, along with the completion of the routine immunization schedule for all children, are essential to build strong immunity against the virus.

The country conducted three nationwide vaccination campaigns in February, April and May, aiming to immunize around 45 million children across Pakistan with the support of over 400,000 frontline workers including 225,000 women vaccinators.

鈥淭he Regional Reference Laboratory for Polio Eradication at the National Institute of Health, Islamabad, has confirmed a new case of wild poliovirus in District Bannu, South Khyber Pakhtunkhwa,鈥 the body said in a statement.

鈥淭he 33-month-old male child from Union Council Shamsikhel, District Bannu is the sixth case of polio reported from Khyber Pakhtunkhwa this year.鈥

Pakistan has reported 12 polio cases so far this year, including six from Khyber Pakhtunkhwa, four from the southern Sindh province and one each from the populous Punjab province and the northern Gilgit-Baltistan region.

Pakistan, one of the last two countries where polio remains endemic along with Afghanistan, has made significant progress in curbing the virus, with annual cases dropping from around 20,000 in the early 1990s to just eight in 2018.

However, the country reported an alarmingly high number of 74 cases in 2024, after six in 2023 and only one in 2021.

Health Minister Mustafa Kamal on Thursday claimed that Pakistan has recorded a 99 percent decline in polio cases, as he urged global vaccine organization Gavi to invest more in efforts to 鈥渢rain and retain鈥 vaccinators.

Pakistan launched its polio eradication program in 1994, but its efforts have repeatedly been hindered by widespread vaccine misinformation and resistance from hard-line religious groups who claim immunization campaigns are a Western conspiracy to sterilize Muslim children or a front for espionage.

Militant groups have also targeted polio workers and police officials providing them security, often with deadly attacks that have hampered vaccination drives, particularly in the country鈥檚 remote and conflict-prone regions.


Pakistan beat France 3-2 in penalty shootouts to reach FIH Hockey Nations Cup final

Pakistan beat France 3-2 in penalty shootouts to reach FIH Hockey Nations Cup final
Updated 20 June 2025

Pakistan beat France 3-2 in penalty shootouts to reach FIH Hockey Nations Cup final

Pakistan beat France 3-2 in penalty shootouts to reach FIH Hockey Nations Cup final
  • PM Shehbaz Sharif congratulates team on their win, paying tribute to players and the management
  • Pakistan boasts proud hockey legacy by winning three Olympic gold medals and four World Cup titles

ISLAMABAD: Pakistan鈥檚 national hockey team advanced to the FIH Men鈥檚 Nations Cup final in Malaysia after defeating France 3-2 in penalty shootouts, the International Hockey Federation said on Friday.

The FIH Men鈥檚 Nations Cup is being played in Kuala Lumpur from June 15 to 21 at the National Hockey Stadium that brought together eight top-ranked teams competing with each other.

鈥淧akistan edge France to make it to their first FIH Hockey Men鈥檚 Nations Cup final,鈥 International Hockey Federation said in a post on X.

鈥淓xcellent goals in the second half followed by amazing goalkeeping in the shootout,鈥 it continued, 鈥淭his is Pakistan鈥檚 first FIH final in more than a decade.鈥

Prime Minister Shehbaz Sharif praised and congratulated the Pakistan hockey team on their victory, paying tribute to the players and team management.

鈥淭he national hockey team delivered an outstanding performance throughout the tournament,鈥 he added. 鈥淭he team has made the nation proud and won our hearts.鈥

Sharif said he would also pray for Pakistan鈥檚 victory in the final scheduled for June 21, expressing hope that the country will soon regain its lost glory in the field of hockey.

Pakistan will play the winner of the second semifinal between New Zealand and South Korea.

Hockey is Pakistan鈥檚 national sport.

The national team boasts a proud legacy with three Olympic gold medals in 1960, 1968 and 1984 along with four World Cup titles in 1971, 1978, 1982 and 1994.

Hockey in Pakistan has faced a sharp decline in recent decades due to administrative challenges, underinvestment and inadequate infrastructure.

Renewed efforts are underway to revive the game with increased government support, youth development initiatives and greater international engagement aimed at restoring Pakistan鈥檚 former glory in the sport.


Pakistan PM orders expansion of national shipping fleet to cut $4 billion trade cost

Pakistan PM orders expansion of national shipping fleet to cut $4 billion trade cost
Updated 20 June 2025

Pakistan PM orders expansion of national shipping fleet to cut $4 billion trade cost

Pakistan PM orders expansion of national shipping fleet to cut $4 billion trade cost
  • Shehbaz Sharif directs national shipping authority to submit plan to reduce freight burden
  • Pakistan depends on foreign carriers due to a very limited fleet of government vessels

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed authorities to lease new ships to expand the Pakistan National Shipping Corporation鈥檚 (PNSC) fleet, aiming to reduce the $4 billion annual foreign exchange burden on sea-based trade.

The directive comes as Pakistan looks to bolster its maritime trade capacity and reduce reliance on foreign shipping lines, which officials say significantly contributes to the country鈥檚 widening trade deficit and puts pressure on foreign exchange reserves.

Pakistan鈥檚 sea trade plays a vital role in its economy, with over 90 percent of the country鈥檚 imports and exports transported by sea.

鈥淭he prime minister directed that ships be acquired on lease to expand the fleet of the PNSC,鈥 the PM Office said in a statement following a meeting on PNSC affairs chaired by Sharif.

鈥淗e noted that due to the limited number of ships in the PNSC fleet, the national exchequer incurs a loss of $4 billion annually in foreign exchange on sea-based trade.鈥

Sharif instructed authorities to present a strategy within two weeks for the PNSC to eliminate this burden on the national treasury on account of freight charges.

The development comes as Pakistan plans to enhance its maritime trade with other countries, including the East African Community, and establish direct sea links with Kenya, Uganda, Tanzania, Rwanda, Somalia, Burundi, South Sudan and the Democratic Republic of Congo.

In February, Pakistan and Bangladesh also decided to begin passenger and cargo shipping services between the two countries.

The PNSC inducted two $60 million Aframax oil tankers in 2019 to strengthen its oil transportation fleet.

Pakistan also regularly collaborates with its counterparts from various parts of the world to ensure illicit activities such as smuggling, drug trafficking, and piracy are kept in check.


Pakistan PM urges diplomacy to end Iran-Israel conflict in call with US secretary of state

Pakistan PM urges diplomacy to end Iran-Israel conflict in call with US secretary of state
Updated 20 June 2025

Pakistan PM urges diplomacy to end Iran-Israel conflict in call with US secretary of state

Pakistan PM urges diplomacy to end Iran-Israel conflict in call with US secretary of state
  • Sharif says Pakistan is ready to play a 鈥榗onstructive role鈥 as Rubio acknowledges Islamabad鈥檚 鈥榚xcellent ties with Iran鈥
  • The prime minister also reaffirms Pakistan鈥檚 willingness to engage in talks with India on all outstanding issues

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday emphasized the importance of 鈥渄ialogue and diplomacy鈥 to defuse the escalating military conflict between Iran and Israel during a phone call with US Secretary of State Marco Rubio, in which both sides discussed a broad range of issues.

The phone call came amid continuing hostilities between Iran and Israel, which began after Israeli airstrikes on Iranian nuclear and military facilities last Friday, leading to the killing of several top commanders and nuclear scientists.

Iran responded with retaliatory missile strikes, causing significant damage inside Israel and raising fears of a broader regional conflict.

Israel鈥檚 attack came while Iran was engaged in negotiations with the United States over its nuclear program. Subsequently, Washington supported Israel鈥檚 action, saying Iran could not be allowed to develop nuclear weapons.

There has also been speculation the US could become more directly involved in the Israel-Iran conflict, though President Donald Trump鈥檚 administration has not announced how it plans to deal with the situation in the coming days.

鈥淭he situation in the Middle East, particularly the Iran-Israel crisis, was ... discussed [during the phone call], where the Prime Minister emphasized on the need to find a peaceful resolution to this grave crisis, through dialogue and diplomacy,鈥 Sharif鈥檚 office said in a statement circulated after his conversation with Rubio.

鈥淗e stated that Pakistan was ready to play a constructive role in any effort for peace in the current situation, which was deeply worrying, not only for the region, but for the entire world,鈥 the statement added.

Earlier this week, President Trump hosted Pakistan鈥檚 army chief, Field Marshal Syed Asim Munir, at the White House, where the unfolding Middle East crisis was also discussed.

The prime minister also referred to the 鈥渕ost cordial and productive鈥 discussion between them in the conversation.

DIALOGUE WITH INDIA

During the call, Sharif also thanked Rubio for the US role in helping Pakistan and India reach a ceasefire understanding last month after a brief but intense four-day military standoff between the nuclear-armed rivals.

He appreciated President Trump鈥檚 鈥渂old leadership鈥 and Rubio鈥檚 鈥減roactive diplomacy,鈥 which he said had played a 鈥減ivotal role鈥 in averting a major flareup.

He also maintained Trump鈥檚 recent positive remarks about Pakistan had created space for a more durable peace in South Asia, which, he noted, would only be possible through 鈥渕eaningful dialogue鈥 with India.

The Pakistani leader reaffirmed Islamabad鈥檚 鈥渨illingness for talks with India on all outstanding issues, including Jammu & Kashmir, the Indus Waters Treaty, trade and counterterrorism.鈥

Rubio, for his part, appreciated Pakistan鈥檚 resolve to uphold the ceasefire understanding with India and encouraged Islamabad to continue playing a role in regional stability, including through its 鈥渆xcellent ties with Iran.鈥

The two officials agreed that both countries must translate their talks into 鈥渢angible actions across all areas.鈥

COUNTERTERRORISM COOPERATION

They also discussed deepening security cooperation between their governments. Sharif reiterated Pakistan鈥檚 commitment to combating militant violence, particularly threats posed by the Tehreek-e-Taliban Pakistan (TTP), the Balochistan Liberation Army (BLA) and other armed factions carrying out recent attacks in his country.

Washington and Islamabad have a history of intelligence-sharing and military cooperation in counterterrorism operations, particularly during the US-led war in Afghanistan.

Rubio acknowledged Pakistan鈥檚 efforts and assured continued American cooperation to counter 鈥渁ll such threats.鈥

Sharif pointed to other areas of potential collaboration, including trade, investment, energy, mining, rare earth metals and information technology while emphasizing the need to advance mutually beneficial cooperation across these sectors.

The Pakistani premier also stressed the importance of maintaining the positive momentum in bilateral ties through regular high-level engagement.

He reiterated his invitation to President Trump to visit Pakistan and expressed hope to meet him at the earliest opportunity.

Sharif also extended a formal invitation to Rubio, as the US secretary of state said he looked forward to enhancing cooperation across 鈥渁ll areas of shared interest.鈥