Pakistan’s top commerce body eyes $3 billion exports to Bangladesh

Pakistan’s top commerce body eyes $3 billion exports to Bangladesh
A security personnel stands guard near the Karachi Port in Karachi on May 9, 2025. (AFP/File)
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Updated 12 min 50 sec ago

Pakistan’s top commerce body eyes $3 billion exports to Bangladesh

Pakistan’s top commerce body eyes $3 billion exports to Bangladesh
  • Pakistan sets up pavilion at international textile and chemicals exhibition in Dhaka
  • Pakistan has a current export volume to Bangladesh of $800 million, says FPCCI

ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday eyed increasing Islamabad’s exports to Bangladesh to $3 billion within a couple of years, as the two countries aim to reset ties after years of bitter relations.

The development came during the 48th DyeChem Bangladesh 2025 Expo in Dhaka, an international trade exhibition in the city for textile and chemical industries.

FPCCI Senior Vice President Saquib Fayyaz Magoon inaugurated the Pakistan Pavilion at the venue alongside Pakistan’s High Commissioner to Bangladesh Imran Haider.

“Saquib Fayyaz Magoon, SVP FPCCI, has stated that Pakistan’s exports to Bangladesh can be enhanced to $3 billion within a couple of years from the current export volume of approximately $800 million,” the FPCCI said in a statement.

“Whereas medium-term export potential to Bangladesh stands at $5–7 billion.”

The FPCCI described Bangladesh as a “global textile and apparel powerhouse,” saying it could serve as a key export market for textile chemicals and dyestuffs for Pakistan.

“The 48th DyeChem Bangladesh 2025 Expo provides a direct pathway to connect with a $47 billion textile and apparel industry that continues to grow year after year,” Magoon said, as per the FPCCI.

Haider, meanwhile, assured full support for Pakistani exporters.

Pakistan and Bangladesh have taken steps to rebuild ties in recent months, with Pakistan’s Deputy Prime Minister Ishaq Dar undertaking a landmark visit to Dhaka in August to reset relations.

Pakistan and Bangladesh were once one nation, but they split in 1971 as a result of a bloody civil war, which saw the part previously referred to as East Pakistan seceding to form the independent nation of Bangladesh. Ties between Pakistan and Bangladesh have warmed up since ex-PM Sheikh Hasina’s ouster as a result of a student-led uprising in August 2024.

Islamabad has attempted to forge closer ties with Bangladesh in recent months as relations remain frosty between Dhaka and New Delhi over India’s decision to grant asylum to Hasina after she fled the country. Both Pakistan and Bangladesh began sea trade last year and began expanding government-to-government commerce in February.


Pakistani, Iraqi air forces resolve to enhance joint exercises, training initiatives

Pakistani, Iraqi air forces resolve to enhance joint exercises, training initiatives
Updated 7 sec ago

Pakistani, Iraqi air forces resolve to enhance joint exercises, training initiatives

Pakistani, Iraqi air forces resolve to enhance joint exercises, training initiatives
  • Iraqi Air Force commander calls on PAF chief in Islamabad to discuss mutual cooperation
  • Iraqi commander seeks PAF’s help in building modernized training paradigm, says Pakistan military

ISLAMABAD: The Pakistan Air Force (PAF) chief and a senior commander of the Iraqi Air Force (IAF) resolved to enhance training initiatives and joint exercises between the two countries to improve interoperability, the Pakistani military’s media wing said on Thursday.

A high-level delegation led by Iraqi Air Force Commander Lt. Gen. Staff Pilot Mohanad Ghalib Mohammed Radi Al-Asadi met Air Chief Marshal Zaheer Ahmed Baber Sidhu at the Air Headquarters in Islamabad, the Inter-Services Public Relations (ISPR) said in a statement.

Both officials discussed various prospects for mutual cooperation between their air forces, placing special emphasis on joint training, capacity building and advancements in the aviation industry, the ISPR said.

“Both commanders concurred on conducting joint exercises and training initiatives aimed at bolstering interoperability and forging stronger operational synergy between the two air forces,” the military’s media wing said.

Al-Asadi conveyed the Iraqi Air Force’s desire to restructure its entire training system, spanning from basic to advanced operational and tactical levels, the ISPR said. He sought PAF’s support in building a modernized training paradigm of the IAF.

“The Iraqi commander also highlighted the aspiration of his force to benefit from exchange postings of PAF pilots, underscoring the immense value Iraqi aviators attach to learning directly from PAF’s combat-proven professionals,” the ISPR said.

The statement said the IAF chief wanted to establish a similar ecosystem in Iraq to the National Aerospace Science & Technology Park, bringing academia, industry and military needs under one umbrella.

Pakistan has sought closer defense and military cooperation with several countries, especially in the air force domain, since its brief military skirmish with India in May.

Pakistan’s government claimed PAF pilots shot down six Indian fighter jets. While Indian officials acknowledged its jets were shot down, they denied that six of them were downed by Pakistan.


Pakistan warns monsoon rains to continue for next 2-3 days as floodwaters move south

Pakistan warns monsoon rains to continue for next 2-3 days as floodwaters move south
Updated 45 min 29 sec ago

Pakistan warns monsoon rains to continue for next 2-3 days as floodwaters move south

Pakistan warns monsoon rains to continue for next 2-3 days as floodwaters move south
  • Pakistan disaster authority says 2.4 million people in Punjab, 150,000 in Sindh moved to safer locations
  • Nationwide, nearly 1,000 people have been killed in Pakistan since monsoon season began from June 26

ISLAMABAD: Pakistan’s National Disaster Management Authority (NDMA) warned on Thursday that the last spell of monsoon rains is expected to continue for the next two to three days amid high water levels at Guddu Barrage in Sindh, as swollen rivers from Punjab move south.

Punjab, home to more than half of Pakistan’s 240 million people and its main farming belt, has been devastated since late August when record monsoon rains swelled the Ravi, Chenab and Sutlej rivers simultaneously in a historic first. Punjab officials say 79 people have died and nearly two million acres of farmland submerged in the province’s worst flooding in four decades.

Pakistani authorities had cautioned that the last spell of monsoon rains is expected to last in the country till Sept. 10. The Punjab disaster authority said the Chenab River was still carrying heavy volumes on Thursday afternoon, with more than 150,000 cubic feet per second flowing through Trimmu, one of its major control points, and above 90,000 at Qadirabad further downstream.

The Sutlej River was also running high, pushing over 120,000 cubic feet per second through its headworks at Sulemanki and Islam, while the Ravi had stabilized at lower levels. Officials said the overall pattern showed that enormous volumes of water were continuing to drain southward from Punjab into the Indus.

“We have arrived at the last days and at the last spell of monsoon 2025,” NDMA Chairman Gen. Inam Haider Malik said during a televised media briefing.

“And in the next two to three days, we believe this last spell of rains, which in the last two days has shifted from Sindh to Balochistan and coastal areas, is slowly now losing steam,” he added.

Malik noted that the water level was flowing from the rivers Chenab, Ravi and Sutlej in layers to the Guddu Barrage in Sindh and at Panjnad, the confluence of the five rivers in southern Punjab.

Guddu is one of the two main barrages that channel Indus waters into central and southern Sindh, protecting densely populated areas further downstream.

The NDMA chairman said rescue operations were continuing across the country, adding that 2.4 million people in Punjab have been shifted from dangerous to safe locations.

He said over 5,000 villages in Punjab that have been inundated will take time to recover. He said it will take around three to four weeks for the water in these areas to dry, after which they will become accessible. In Sindh, Malik said 150,000 people have been relocated to safer places.

Earlier, the Flood Forecasting Division said River Indus at Guddu barrage is expected to attain very high flood level during the next 48 hours, adding that River Indus at Sukur is expected to attain a high flood level after 48 hours.

By Thursday afternoon, Guddu Barrage itself was carrying more than 505,000 cusecs, with gauges upstream at Chachran showing levels steady at nearly 298 feet, officials said.

Sindh Chief Minister Murad Ali Shah said in a statement Sukkur Barrage had safely handled over 1.1 million cusecs of water in recent days. He said reinforcement works were under way at 45 vulnerable points across the province.

SOUTHERN PUNJAB

Meanwhile, rescue operations remain focused in southern Punjab’s Jalalpur Pirwala, a tehsil near the city of Multan where the Chenab and Sutlej converge and floodwaters have inundated entire villages.

“With the help of the Pakistan Army, relief goods are being delivered to the affected areas,” said PDMA Director General Irfan Ali Kathia.

He said 706,000 people had been affected in Jalalpur Pirwala, 362,000 moved to safer places and more than 311,000 livestock relocated.

“Rescue operations will continue until all victims are moved to safe places,” he added.

Punjab Information Minister Azma Bukhari said 3,628 people had been evacuated from Multan in the past three days, and that water levels at key headworks, including Muhammad Wala and Sher Shah Bridge, were “no longer critical.”

Punjab Relief Commissioner Nabil Javed said more than 4.3 million people across the province had been affected and 2.26 million moved to safe places.

He said 396 relief camps, 490 medical camps and 412 veterinary camps were operating, and 1.7 million animals had been relocated.

The Pakistan Meteorological Department forecast no significant rain until at least Sept. 15, giving flooded areas in Punjab time to drain.

But officials have cautioned that swollen rivers would continue pushing south into Sindh for days, requiring close monitoring of dykes and barrages.

Nationwide, nearly 1,000 people have been killed in Pakistan since the monsoon season began on June 26.


Experts raise alarm as Shanghai Electric terminates $1.8 billion deal to acquire Pakistan’s K-Electric

Experts raise alarm as Shanghai Electric terminates $1.8 billion deal to acquire Pakistan’s K-Electric
Updated 11 September 2025

Experts raise alarm as Shanghai Electric terminates $1.8 billion deal to acquire Pakistan’s K-Electric

Experts raise alarm as Shanghai Electric terminates $1.8 billion deal to acquire Pakistan’s K-Electric
  • Chinese power company cites K-Electric’s failure to meet conditions, changes in Pakistan’s business environment for terminating deal
  • Analysts say the development reflects “several bottlenecks and red tape” foreign investors have to suffer to acquire assets in Pakistan

KARACHI: Experts expressed concern on Thursday over Shanghai Electric Power Company’s (SEPC) decision to terminate its $1.8 billion deal to acquire majority shares in Pakistan’s K-Electric (KE), citing the power utility company’s failure to meet conditions and Pakistan’s changing business environment.

SEPC has been in talks to acquire a stake in KE since 2016, delayed due to regulatory approvals and liquidity constraints as a consequence of mounting circular debt plaguing the country’s power sector. The government of Pakistan owns a 24.4 percent stake in KE, which powers the country’s largest city and commercial hub of Karachi.

As per the agreement, SEPC was to acquire 66.4 percent or 18.3 billion shares in KE, which is Pakistan’s largest private utility company, for $1.77 billion and an additional $27 million incentive payment, depending on KE’s operating performance.

SEPC’s decision to terminate the agreement was taken by its board during its Sept. 9 meeting and was notified to shareholders on the Shanghai Stock Exchange (SSE) the following day. The decision remains subject to review by shareholders.

“The counterparty has consistently failed to meet the closing conditions precedent, and changes in Pakistan’s business environment have resulted in this transaction no longer being aligned with the company’s international development strategy,” the SEPC said in its filing at the SSE.

“After careful research and analysis, and in order to safeguard the interests of the company and all shareholders, the company has decided to terminate this major asset purchase,” it added.

KE spokesperson Imran Rana, meanwhile, refused to comment on the development when approached by Arab News. Zafar Yab Khan, a spokesman at the energy ministry’s Power Division, said only KE could comment on the matter since it was a “privatized entity.”

KE, whose shares were one of the most traded ones on the Pakistan Stock Exchange (PSX) in recent days, declined in price by 3.6 percent to Rs5.54 per share since Sept. 10.

Recalling Pakistan’s changing regulatory landscape, SEPC said KE’s profitability and equity value had been significantly reduced in July 2018 after Pakistan’s National Electric Power Regulatory Authority (NEPRA) announced a “reconsidered” multi-year electricity price mechanism.

 The two parties had to re-evaluate and adjust the transaction price. In 2019, after completing supplementary due diligence on various professional aspects and adjusting the financial model, SEPC submitted an updated non-binding offer to KE, which it did not accept.

“Since 2020, the company has been conducting supplementary technical, financial, and tax due diligence in accordance with project needs and continuously monitoring project progress,” the SEPC said.

‘OPPORTUNITY LOST’

Khaqan Najeeb, Pakistan’s former finance adviser, said the government’s priority should be to strengthen the country’s regulatory frameworks, streamline approvals, and build confidence in dispute resolution.

Improving these fundamentals will matter far more in the long run than any one transaction, he told Arab News.

“Large investment decisions being scrapped naturally raise concerns about a country’s ability to attract and retain foreign investment,” Najeeb said.

Najeeb said that while individual cases might have their own dynamics, they highlight the broader issue that “investors look not just at opportunities, but also at predictability and clarity in local processes.”

Muhammad Saad Ali, an energy analyst at Lucky Investments Ltd., said Chinese investors pulling out from Pakistan was a “negative for FDI (foreign direct investment) as [it] shows the several bottlenecks and red tape foreign direct investors have to bear to acquire an asset in Pakistan.”

Pakistan’s government has been actively trying to secure FDI over the past several months. However, it has only managed to attract $3 billion in the last two decades, according to Pakistan’s central bank.

“(It is a) lost opportunity for Pakistan as it could have learnt a lot from a power behemoth from China,” Ali said.

Ali noted the SEPC decision would also dampen the hopes of KE’s minority shareholders, “who have been hoping for this acquisition to unlock value in the stock.”


Pakistan says has filled 179,210 Hajj slots in 2026 after last year’s shortfall

Pakistan says has filled 179,210 Hajj slots in 2026 after last year’s shortfall
Updated 41 min 4 sec ago

Pakistan says has filled 179,210 Hajj slots in 2026 after last year’s shortfall

Pakistan says has filled 179,210 Hajj slots in 2026 after last year’s shortfall
  • Pakistan has allocated quota of 120,000 Hajj pilgrims for government scheme, rest for private tour operators
  • Around 63,000 Pakistani pilgrims were unable to perform the pilgrimage under the private scheme last year

ISLAMABAD: Pakistan has filled its entire quota of 179,210 Hajj pilgrims under both the government and private schemes, the religious affairs minister said on Thursday, disclosing that negotiations are underway with Saudi companies to finalize transport and accommodation arrangements.

Similar to last year, Pakistan has been allocated a quota of 179,210 pilgrims for Hajj 2026. Out of these, around 120,000 seats have been allocated under the government scheme and the rest to private tour operators.

“We have now completed the Hajj applications with the entire quota utilized and the first installment of dues also submitted,” Religious Affairs Minister Sardar Muhammad Yousuf told Arab News.

The minister was speaking to Arab News at the sidelines of a pre-launch event for a Hajj and Umrah exhibition in Islamabad, which will take place from Oct. 24-26 in Islamabad.

“All preparations have been finalized and a procurement committee has been formed to sign agreements with Saudi companies for transportation, accommodation, and other arrangements,” Yousuf said. “And their work has already started.”

The minister said many people were still inquiring about the government scheme quota, saying they were unable to apply in time. Yousuf said the ministry would accommodate them on a case-by-case basis, provided any pilgrims drop out.

He added that the private sector has also completed its quota of 60,000 Hajj pilgrims.

“Thus, next year Pakistan will fully utilize its total quota of 179,210 pilgrims,” the minister said.

Last year, around 63,000 Pakistani pilgrims were unable to perform Hajj under the private scheme due to delays in payments and mismanagement by private Hajj operators.

As a result, Islamabad was forced to surrender these slots to .

Yousaf said the government had taken serious action over the matter, saying this led to a reduction in the Hajj pilgrims’ quota for private tour operators this year.

He said earlier, the quota for Hajj pilgrims under government and private schemes was kept allocated at 50 percent each. The quota for private tour operators now has been slashed to 33 percent while the government has been allocated a share of 67 percent.

“Through this, the cabinet has sent a warning that since performance was unsatisfactory, their [private Hajj operators] quota has been reduced by 30,000— from almost 90,000 to 60,000,” Yousuf said.

He said the ministry would review performances of private tour operators this year and future quotas would be decided accordingly.

Yousuf spoke about the Munazzam system adopted by Pakistan, which refers to clustering private Hajj operators into larger groups to meet ’s regulatory requirements.

“Last year there were 41 clusters which have now been reduced to 25 this year,” he said.

Under the Kingdom’s rules, only companies handling a minimum of 2,000 pilgrims can directly operate Hajj services. Since most Pakistani private Hajj operators are small and don’t individually meet this threshold, they are grouped together into clusters called Munazzam.

‘STRICT ACTION’ AGAINST BEGGARS

Yousuf said the government is working hard to reduce Hajj expenses, adding that the early completion of procedures would help to achieve this.

Under the government scheme, pilgrims can choose between a long Hajj package (38-42 days) and a short package (20-25 days). Costs range between Rs1,150,000 and Rs1,250,000 ($4,050–4,236).

Applicants were required to deposit the first installment of Rs500,000 [$1764] or Rs550,000 [$1941], depending on the package. The remaining dues will be collected in November.

Yousuf said the ministry has established a separate wing to take control of Umrah operations, according to the Hajj and Umrah (Regulation) Act, 2024.

“I met with the tour operators this morning as we are going to implement this act soon, and work is already underway as modalities are being finalized and registration of the Umrah tour operators is underway,” he said.

Yousuf acknowledged that previously, some Umrah pilgrims went to perform the pilgrimage but were found begging and involved in similar activities, bringing a bad name to Pakistan.

He said the Saudi government has been very strict about begging and sent letters to all countries, urging them to strengthen their systems to prevent the illegal practice.

“It was a mafia-like network, and we have now strictly prohibited it and strict action will be taken against anyone found involved in such practices,” Yousuf said.


Pakistan police arrest suspect, launch probe into triple murder of Karachi women

Pakistan police arrest suspect, launch probe into triple murder of Karachi women
Updated 11 September 2025

Pakistan police arrest suspect, launch probe into triple murder of Karachi women

Pakistan police arrest suspect, launch probe into triple murder of Karachi women
  • Police say initial investigations reveal maternal uncle stabbed women to death over domestic dispute
  • Sindh Home Minister expresses sorrow over the triple murder, vows to punish culprit behind the killings

KARACHI: Pakistani police said they had arrested a suspect who had brutally stabbed to death three women and injured two others on Thursday, launching a probe into the murders.

According to details shared by police, the murders took place in Karachi’s Bhittai Abad Colony in the city’s Gulistan-e-Jauhar area. The murdered women have been identified as Aashi, Tania, and Nina, while the three persons injured in the incident were identified as Ajay Ram, Priya, and Nandini.

Senior Superintendent of Police Dr. Abdul Khalique Pirzada said preliminary investigations revealed the murder took place due to a domestic dispute and were committed by Ram, who was the uncle of two of the victims. Police said the bodies were sent to the Jinnah Hospital for post-mortem, while the injured have also been shifted there for treatment.

“According to initial investigations, the injured child and woman stated that their maternal uncle, Ajay Ram, attacked the women with a knife, killing them,” a spokesperson of the Malir Cantonment Police, under whose jurisdiction the murders were committed, said in a statement.

According to Pirzada, Ram was taken into police custody in an injured condition as he tried to take his life after carrying out the killings. He is being treated at the hospital as well.

“Malir Cantt Police are carrying out further legal proceedings as per law,” the spokesperson said.

Meanwhile, Sindh Home Minister Zia ul Hasan Lanjar sought a detailed report of the incident from Pirzada, expressing sorrow over the incident.

“The motives behind the incident should be brought to light immediately,” Lanjar was quoted as saying, according to the Sindh Home Department.

He directed police to carry out a transparent inquiry into the incident.

Domestic violence remains a prevalent issue in Pakistan, where many cases go unreported due to social stigma attached with it and a lack of resources for victims.

The Sindh Suhai Sath Organization, a local non-government organization, reported in October 2024 that 165 women were killed in Pakistan’s southern Sindh province in 2023, with the actual number of such cases likely to be much higher.