Pakistan, China, Bangladesh agree to enhance cooperation in trade, investment and maritime affairs

Pakistan, China, Bangladesh agree to enhance cooperation in trade, investment and maritime affairs
Chinese Vice Foreign Minister Sun Weidong (center), Bangladeshi Acting Foreign Secretary Ruhul Alam Siddique (left) and Pakistani Additional Secretary (Asia Pacific) Imran Ahmed Siddiqui pose for a picture at the inaugural meeting of Bangladesh-China-Pakistan trilateral mechanism held in Kunming, China, on June 19, 2025. (@ForeignOfficePk/X)
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Updated 20 June 2025

Pakistan, China, Bangladesh agree to enhance cooperation in trade, investment and maritime affairs

Pakistan, China, Bangladesh agree to enhance cooperation in trade, investment and maritime affairs
  • Pakistan and Bangladesh are both part of China’s multi-billion, ambitious Belt and Road Initiative project
  • All three sides hold trilateral vice foreign minister/foreign secretary meeting in Kunming, Yunnan on Thursday

ISLAMABAD: Senior officials of Pakistan, Bangladesh and China on Friday vowed to enhance trilateral cooperation in various sectors such as trade, investment, health, education, maritime affairs and others, the Chinese foreign ministry said. 

Pakistan and Bangladesh are both part of China’s ambitious Belt and Road Initiative (BRI) which aims to connect Asia, Africa and Europe. China envisions the BRI to be a global network of roads, railways, ports, energy pipelines and trade corridors that strengthens Beijing’s trade ties with other regions for the benefit of its economy. 

Pakistan and China are historic allies while strained ties between Islamabad and Dhaka have started to improve since the ouster of former Bangladesh PM Sheikh Hasina last year. The China-Pakistan-Bangladesh Trilateral Vice Foreign Minister/Foreign Secretary meeting was held in Kunming, Yunnan on Thursday, to discuss cooperation in various sectors between the three countries. 

The meeting was attended by Chinese Vice Foreign Minister Sun Weidong, Bangladeshi Acting Foreign Secretary Ruhul Alam Siddique and Pakistani Additional Secretary (Asia Pacific) Imran Ahmed Siddiqui. Pakistan’s Foreign Secretary Amna Baloch participated in the first phase of the meeting via video link.

“The three sides agreed to explore and implement cooperation projects in such areas as industry, trade, maritime affairs, water resources, climate change, agriculture, human resources, think tanks, health, education, culture, and youth,” the Chinese foreign ministry said. 

The statement said Pakistan, Bangladesh and China will establish a working group to follow up and implement the understandings reached during the meeting on Thursday. The three sides emphasized that China-Bangladesh-Pakistan cooperation adheres to true multilateralism and open regionalism, not directed at any third party, it added. 

Pakistan’s foreign office said Baloch conveyed Islamabad’s readiness to work with China and Bangladesh to enhance ties in trade and investment, agriculture, digital economy, environment protection, marine sciences, green infrastructure, culture, education and people-to-people exchanges. 

“The three sides agreed that trilateral cooperation would be guided by the principles of openness, inclusivity, good neighborliness, mutual respect and trust, while working toward win-win cooperation,” Pakistan’s foreign office said. 

Pakistan has recently eyed closer cooperation in trade and investment with regional allies as it grapples with a macroeconomic crisis that has drained its financial resources, significantly weakened its currency and triggered a balance of payments crisis for the South Asian country.

Prime Minister Shehbaz Sharif has repeatedly spoken about his government’s intention to enter “mutually beneficial” partnerships with allies as opposed to seeking loans from them.

In recent months Pakistan has signed memoranda of understanding with allies such as , China, United Arab Emirates, Azerbaijan, Turkiye and others worth billions of dollars.


India firm favorites in geopolitically-charged Asia Cup but Pakistan hope to surprise

India firm favorites in geopolitically-charged Asia Cup but Pakistan hope to surprise
Updated 08 September 2025

India firm favorites in geopolitically-charged Asia Cup but Pakistan hope to surprise

India firm favorites in geopolitically-charged Asia Cup but Pakistan hope to surprise
  • Asia Cup tournament looked in limbo after four days of military conflict between arch-rivals India and Pakistan in May 
  • Eight-nation cup is taking place in United Arab Emirates from Sept. 9-28, despite boycott calls from ex-Indian cricketers

Reigning 20-overs world champions India look overwhelming favorites to retain their Asia Cup title with Suryakumar Yadav leading a crack squad that can sweep aside rivals and any geopolitical distraction in the tournament beginning on Tuesday.

The Sept. 9-28 tournament had looked in limbo after four days of military conflict between tournament hosts India and bitter neighbors Pakistan in May this year.

The eight-team competition was subsequently moved to the United Arab Emirates but the geopolitical undercurrents were palpable with several former India cricketers demanding a boycott of matches against Pakistan.

With New Delhi backing the Indian cricket board’s stance of playing Pakistan in multi-team events only, the Asian Cricket Council, which organizes the Asia Cup, is confident its flagship tournament would prove a success.

With an eye on the T20 World Cup next year, India gave an indication of how seriously they view the tournament when they picked pace spearhead Jasprit Bumrah.

The 31-year-old is played sparingly to manage his all-format workload and India will hope to benefit from the wily seamer’s craft both in the powerplay and the death overs.

Test captain Shubman Gill has been recalled to reinforce a batting lineup teeming with serious power-hitters like Abhishek Sharma and Tilak Varma, currently the top-two T20 batters in official rankings, as well as skipper Suryakumar.

Arch-rivals Pakistan will enter the tournament low on experience but high on confidence after winning a tri-series, also involving Afghanistan and hosts UAE, on Sunday.

“We wanted to prepare in a way that helps us for the Asia Cup and we’ve done that,” Pakistan captain Salman Agha said.

“We’ve been doing really well since the Bangladesh home series. Finally, we’re in very good shape and fully prepared for the Asia Cup.”

Having ignored former captains Babar Azam and Mohammad Rizwan, Pakistan will need sustained contribution from their batters against tougher opposition.

Afghanistan lost to Pakistan in Sunday’s final in Sharjah but skipper Rashid Khan counts their familiarity with conditions as a major gain.

“It’s important for us to learn from these conditions ahead of the Asia Cup,” Rashid, who will lead Afghanistan’s spin-heavy attack, said.

“Over the last eight-nine months, we haven’t played much T20 cricket together and a series like this gives us positive energy.

“I think it’s going to be a great and exciting Asia Cup for us.”

Under Litton Das, a new-look Bangladesh will be itching to prove their mettle having lost the likes of stalwarts Shakib Al Hasan, Mushfiqur Rahim and Tamim Iqbal to retirement.

Afghanistan play Hong Kong in the tournament opener in Abu Dhabi on Tuesday. 


Pakistani capital steps up inspections after 11 dengue cases reported in a day

Pakistani capital steps up inspections after 11 dengue cases reported in a day
Updated 08 September 2025

Pakistani capital steps up inspections after 11 dengue cases reported in a day

Pakistani capital steps up inspections after 11 dengue cases reported in a day
  • Seven new dengue cases were detected in rural areas while four have been reported from urban areas, says state media 
  • Administration seals several sites after observing violations of dengue preventive SOPs, takes individuals into custody

ISLAMABAD: The district administration of Pakistan’s capital Islamabad sprang into action and carried out dengue inspection and prevention steps as the city reported 11 cases of the disease during the last 24 hours, state-run media reported on Monday. 

Dengue is an illness that spreads through vectors, carried by the bite of an infected mosquito. There is currently no cure or vaccine for dengue fever and in its most severe form, it can lead to fatalities. People affected by dengue go through intense flu-like symptoms including high fever, intense headache, muscle and joint pain, and nausea and vomiting, typically persisting for approximately a week.

The district administration carried out 365 inspections across the city in the last 24 hours to identify mosquito larvae, state-run Associated Press of Pakistan (APP) said. Three sites tested positive while 10 tested negative. 

“The district administration of Islamabad has released its latest dengue surveillance report, confirming 11 new cases across different union councils in the last 24 hours,” APP said in a report. 

It added that seven of the new dengue cases were detected in rural areas, while four were reported from urban localities. The report quoted a district administration spokesperson as saying that areas with confirmed larva presence were immediately treated to curb mosquito breeding. 

The spokesperson said enforcement actions against violations of dengue preventive standard operating procedures (SOPs) were carried out across the capital. These included inspection of various residential and commercial properties by magistrates and assistant commissioners, who checked for water accumulation and non-compliance with preventive measures. 

“Several sites were sealed after violations were confirmed,” the report said. “In some cases, individuals were taken into custody for negligence in implementing dengue control measures.”

Islamabad Deputy Commissioner Ifran Nawaz Memon advised residents to ensure stagnant water is not left uncovered in their homes, workplaces or surroundings as it provides a breeding ground for mosquitoes. The report said inspections are being conducted in high-risk zones including construction sites, junkyards, water storage areas and commercial outlets.

“Furthermore, awareness campaigns are also being carried out to inform citizens about preventive practices, including covering water containers, using mosquito repellents, and ensuring proper waste disposal,” the report said. 

Dengue fever is endemic to Pakistan, which experiences year-round transmission with seasonal peaks. This year’s first dengue-related death was reported in the country’s southern Sindh province on Jun. 3.

The development takes place exactly a week after the World Health Organization (WHO) warned Pakistan’s flood-hit Punjab province has been witnessing an increase in vector-borne diseases. 

Punjab authorities have relocated thousands to relief camps across the province, where the WHO says unsafe drinking water and mosquitoes pose the main epidemic risks, making displaced people vulnerable to diarrhea, typhoid, malaria, dengue and skin infections.

“Although no major outbreak has been reported so far, an upsurge has been detected for vector-borne diseases such as malaria and dengue, water-borne diseases like acute watery diarrhea, and skin diseases like scabies and eye infections,” Dr. Jose Ignacio Martin Galan, head of communications at the WHO Pakistan Country Office, told Arab News on Sept. 1.


Pakistan’s central bank expected to hold rates in September meeting – survey

Pakistan’s central bank expected to hold rates in September meeting – survey
Updated 08 September 2025

Pakistan’s central bank expected to hold rates in September meeting – survey

Pakistan’s central bank expected to hold rates in September meeting – survey
  • 72% of respondents in Topline poll expect no change in policy rate
  • Central bank has cut 11 percentage points since June 2024 but held steady since May

ISLAMABAD: Pakistan’s central bank is expected to keep its key interest rate unchanged at 11 percent when its monetary policy committee meets on Sept. 15, a Topline Securities survey showed this month, with 72 percent of respondents forecasting no move.

The State Bank of Pakistan (SBP) began cutting its policy rate from a record 22 percent in June 2024, delivering a total of 10 percentage points of easing by January 2025. It paused at 12 percent in March, cut further in May to 11 percent, and has held the rate steady through June, July and August amid inflation concerns and flood-related risks.

The policy rate is the main tool used by the SBP to control inflation. A higher rate makes borrowing more expensive and slows demand, while lower rates can spur growth but risk fueling price increases.

“Looking at current market conditions and inflation outlook, we believe the SBP will maintain the policy rate at 11 percent in the upcoming monetary policy,” Topline Securities said in its report.

Still, 28% of respondents in the survey predicted another reduction, ranging from a modest 25 basis points (0.25 percentage points) to a full 100 basis points.

Topline warned that the devastation of the 2010–2011 floods — Pakistan’s worst on record, which submerged a fifth of the country and cut rice production by about 30 percent — showed how climate disasters can fuel food inflation. 

“The area under cultivation of wheat, rice and cotton fell between 3 and 18 percent,” the brokerage noted, adding that this year’s ongoing floods could trigger similar supply shocks.

Market signals also reflect expectations of stability. The 6-month KIBOR — a key interbank lending rate — and yields on short-term government securities have shown little change since the last SBP meeting, suggesting traders see no imminent shift.

Topline projects average inflation of 6–7 percent in fiscal year 2026 and expects gradual cuts later, bringing the policy rate to around 10 percent by mid-2026 once flood-related pressures subside.

Pakistan remains under a $7 billion International Monetary Fund program that emphasizes maintaining prudent monetary policy alongside reforms to stabilize the currency and strengthen transparency.


Pakistan enables instant digital payments for stock trades in market reform push

Pakistan enables instant digital payments for stock trades in market reform push
Updated 08 September 2025

Pakistan enables instant digital payments for stock trades in market reform push

Pakistan enables instant digital payments for stock trades in market reform push
  • Integration of instant payment system aims to speed up fund transfers for investors
  • Move seen as part of Pakistan’s drive to modernize and expand its stock market

KARACHI: Pakistan’s Central Depository Company (CDC) has integrated JS Global Capital Limited into its RAAST Aggregator platform, allowing investors to transfer funds instantly for stock trading in what officials said on Monday marked a milestone in efforts to modernize the country’s capital markets.

Authorities hope linking the State Bank’s RAAST instant payment system to the stock market will cut settlement delays, lower barriers for small investors and build trust in a market often plagued by low liquidity and limited participation. Pakistan’s stock exchange is one of Asia’s oldest but remains thinly traded, with only around 250,000–300,000 active retail investors in a country of 240 million. Its market capitalization hovers around $27 billion, far smaller than regional peers.

“This partnership with JS Global Capital Limited reflects CDC’s ongoing commitment to digital transformation in the capital market,” CDC Chief Executive Officer Badiuddin Akber said at a signing ceremony in Karachi.

“By making fund transfers instant, secure, and more convenient, we are helping investors trade with greater confidence and efficiency. We believe such integrations are not just about technology, they are about building investor trust and laying the foundation for a stronger, more transparent capital market ecosystem.”

The RAAST system, launched by the State Bank in 2021 with World Bank support, has already processed hundreds of millions of payments for individuals and merchants. Each investor sub-account is assigned a unique Investment ID in IBAN format, and once registered with a bank, funds are transferred directly into a broker’s client account within minutes, giving investors immediate access to trading capital.

JS Global Capital Limited CEO Muhammad Khalilullah Usmani said the integration would help strengthen client confidence.

“Joining CDC’s RAAST Aggregator is a step forward in our strategy to provide best-in-class services to investors,” he said. “This integration not only simplifies the fund transfer process but also strengthens investor trust by ensuring speed and reliability.”

Pakistan has been under pressure from international lenders, including the International Monetary Fund, to strengthen transparency, digitalization and governance in financial markets as part of wider economic reforms. CDC said its latest move builds on other initiatives such as its Asaan Connect digital onboarding platform, aimed at making it easier for new investors to enter the market and boosting overall efficiency.


Pakistan flood threat shifts downstream to Sindh as Punjab toll hits 60

Pakistan flood threat shifts downstream to Sindh as Punjab toll hits 60
Updated 08 September 2025

Pakistan flood threat shifts downstream to Sindh as Punjab toll hits 60

Pakistan flood threat shifts downstream to Sindh as Punjab toll hits 60
  • Floodwaters moving into Sindh set to impact 320,000 people this week, minister says
  • Punjab evacuates over 2.1 million people, 1.84 million acres under cultivation destroyed

ISLAMABAD: Pakistan’s flood crisis moved downstream on Monday, with Sindh province warning that more than 300,000 people could be hit this week as surging river waters sweep south from neighboring Punjab.

Punjab, the country’s most populous province and agricultural heartland, has borne the brunt of the disaster since late August. Officials there say 60 people have died, millions displaced and vast tracts of farmland destroyed after weeks of monsoon rains and controlled water releases from Indian dams, which authorities there carry out to manage reservoir levels during heavy rains.

Floodwaters are now racing down the Indus basin, fed by Punjab’s three eastern rivers — the Chenab, Ravi and Sutlej — which have been swollen by weeks of heavy rains and dam releases in India. As the torrents merge into the Indus, Pakistan’s longest river, the surge is expected to hit Sindh this week, threatening towns and farmland along the river’s southern course before it empties into the Arabian Sea.

“The protection of people’s lives and property is the Sindh government’s top priority, and the provincial government stands with the people at all times,” Sindh information minister Sharjeel Inam Memon said in a statement.

He said 133,887 people and 380,363 animals had already been shifted to safe locations, while the most dangerous flood situation was at Panjnad, where the Chenab and Sutlej rivers meet, and at Trimmu, a key headworks on the Chenab in central Punjab.

President Asif Ali Zardari, whose Pakistan Peoples Party governs Sindh, also urged institutions to remain on high alert.

“Provincial, district and local government institutions should be on alert to deal with possible flood situation,” his office said.

PUNJAB DEVASTATION

Speaking to reporters on Monday, Punjab’s information minister Azma Bokhari said the province had shifted 2.147 million people and 1.55 million animals to safer places, with more than 4.2 million people in total affected since the latest spell of monsoon rains and flooding began in late August.

“Overall, 4,335 areas have been affected [by floods] and from this, you can estimate its severity,” she said.

Bokhari added that the province’s farmland had been hit hard, with about 1.84 million acres under cultivation destroyed, including rice, sugarcane, cotton and vegetables.

Punjab Relief Commissioner Nabeel Javed said the scale of the disaster had forced authorities to set up 412 relief camps, 492 medical camps and 432 veterinary camps across flood-hit districts. 

Javed added that Mangla Dam was now 88 percent full and Tarbela at 100 percent, while India’s Bhakra, Pong and Thein dams across the Sutlej and Ravi were between 90 and 99 percent full.

“Unfortunately, 60 people have died in this flood,” he said, adding that Chief Minister Maryam Nawaz had directed officials to compensate citizens for losses.

Rescue 1122 said operations were continuing in Multan, a major city in southern Punjab that sits near the confluence of the Chenab and Sutlej rivers and lies directly in the path of floodwaters moving toward Sindh. In Multan alone, more than 10,800 people have been rescued so far, including 2,343 in the past 24 hours, while the district administration has already carried out advance evacuation of 350,000 people and 300,000 animals, according to Rescue Punjab spokesperson Farooq Ahmed.

He said residents of Muzaffargarh, a district squeezed between the Indus and Chenab rivers, and Alipur Jatoi, a tehsil of Muzaffargarh lying on the Indus floodplain, had also been urged to evacuate from high-risk riverbank communities before the surge moves downstream.

The Provincial Disaster Management Authority (PDMA) reported extremely high flows across Punjab’s rivers on Monday, including 543,579 cusecs at Trimmu Headworks on the Chenab and 564,604 cusecs at Panjnad on the Sutlej.

The agency warned of more “severe thunderstorm rains” across Punjab in the next 24 hours after Jhelum recorded 96mm of rainfall, Jhang 77mm and Noorpur Thal 70mm. It cautioned of flash flooding in Dera Ghazi Khan until Sept. 9.

The National Disaster Management Authority (NDMA) said the nationwide death toll from rains and floods since June 26 when the monsoon season began had reached 910.

The Pakistan Meteorological Department forecast further urban and coastal flooding through Sept. 10 as the monsoon’s 10th spell continues.