Pakistan president to visit China today in efforts to boost economic, trade cooperation

Pakistan president to visit China today in efforts to boost economic, trade cooperation
This file photo, taken on February 4, 2025, shows Pakistan President Asif Ali Zardari departing for an official visit to China, at Nur Khan Airbase in Rawalpindi. (Handout/PPP/File)
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Updated 14 min 45 sec ago

Pakistan president to visit China today in efforts to boost economic, trade cooperation

Pakistan president to visit China today in efforts to boost economic, trade cooperation
  • Asif Ali Zardari to visit Chengdu, Shanghai and Uygur region from Sept. 12-21, says foreign office
  • Pakistan signed investment, joint venture agreements with China worth $8.5 billion last week 

ISLAMABAD: Pakistan President Asif Ali Zardari will embark on a 10-day visit to China today, Friday, to hold discussions with the Chinese leadership on enhancing bilateral economic and trade cooperation, the foreign office said.

The visit will take place days after Prime Minister Shehbaz Sharif’s official trip to China last week, where Islamabad signed investment agreements and joint ventures worth $8.5 billion with Beijing.

Zardari's trip from Sept. 12-21 would include visits to Chengdu and Shanghai cities, and the Xinjiang Uygur Autonomous Region where he will meet Chinese provincial leaders, the foreign office said.

“The discussions will encompass Pakistan-China bilateral relations, with a particular focus on economic and trade cooperation, CPEC and future connectivity initiatives,” the statement said.

Pakistan views China as an important investment partner and strategic ally, which has funneled billions of dollars into the country under the China-Pakistan Economic Corridor (CPEC) energy and infrastructure project for over a decade.

The foreign office said Zardari’s visit would reaffirm both countries’ support over core interests, advance economic and trade ties and underscore their commitment to regional peace.

China is its largest trading partner, with bilateral trade topping $25 billion in recent years. Chinese firms have invested heavily in Pakistan in power, transport, infrastructure and telecoms projects under the multi-billion-dollar CPEC.


Coach says Pakistan must ‘focus on job’ in highly charged India clash in Dubai

Coach says Pakistan must ‘focus on job’ in highly charged India clash in Dubai
Updated 4 min 38 sec ago

Coach says Pakistan must ‘focus on job’ in highly charged India clash in Dubai

Coach says Pakistan must ‘focus on job’ in highly charged India clash in Dubai
  • The match is the first time the neighbours will have met in cricket since a brief but deadly standoff in May
  • The eight-nation Twenty20 tournament began on Tuesday with Afghanistan beating Hong Kong by 94 runs

DUBAI: Coach Mike Hesson has told his Pakistan team to “focus on the job” in Sunday's highly charged Asia Cup clash with arch-rivals India.

The match in Dubai is the first time that the neighbours will have met in cricket since a brief but deadly border conflict in May and emotions will be running high.

The New Zealander Hesson said Thursday: “I guess, from my perspective, just like any time you enter a match, whether it be a final of a world event or whatever, it’s about keeping everybody focused on the job at hand and that'll be no different on the weekend.”

The eight-nation Twenty20 tournament began on Tuesday with Afghanistan beating Hong Kong by 94 runs. India crushed hosts the United Arab Emirates by nine wickets on Wednesday.

Pakistan begin their campaign against Oman on Friday, but all the talk is already of world champions India two days later.

“We know that India are obviously hugely confident and rightfully so in terms of how well they've played,” Hesson said of the Asia Cup holders, who skittled UAE for just 57 in 13.1 overs.

India cruised to victory in just 4.3 overs.

Since winning the World Cup last year they have won 18 of their 21 T20Is.

Hesson is excited to be part of a blockbuster, which will be watched by a packed stadium in Dubai and hundreds of millions of television viewers.

“Look, I’ve certainly watched many games from afar, so certainly being on the other side of the fence, I guess, being right and amongst such a highly charged event is going to be exciting,” he added.

Pakistan enter the Asia Cup with a tri-series win in the UAE also involving Afghanistan and UAE, and confidence is growing.

“We're very much focused on improving as a team, sort of day by day, and not getting too far ahead of ourselves,” said Hesson.

India, Pakistan, Oman and UAE are in Group A while Sri Lanka, Afghanistan, Hong Kong and Bangladesh form Group B.

The top two teams from each Group will qualify for the Super Four stage. The top two teams will then play the September 28 final in Dubai.


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

Pakistan’s top commerce body eyes $3 billion exports to Bangladesh
Updated 11 September 2025

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 11 September 2025

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 11 September 2025

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.”