Islamabad eyes stronger commerce links with Dhaka in pharma, auto and minerals

Islamabad eyes stronger commerce links with Dhaka in pharma, auto and minerals
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Islamabad eyes stronger commerce links with Dhaka in pharma, auto and minerals

Islamabad eyes stronger commerce links with Dhaka in pharma, auto and minerals
  • The development comes as Pakistan, Bangladesh move to reset ties scarred by the 1971 conflict but reshaped by shifting regional alliances
  • At a networking event in Dhaka, Pakistan PM’s aide on commerce vows to creating a conducive environment for businesses from both countries

ISLAMABAD: Pakistan is seeking to strengthen its commerce relations with Bangladesh in pharmaceuticals, automotive and mineral sectors, the Pakistani commerce ministry said on Tuesday, amid a thaw in bilateral ties between the two countries.

The development came after the Pakistan prime minister’s coordinator on commerce, Ihsaan Afzal Khan, attended a networking session between the Dhaka Chamber of Commerce and Industry (DCCI) and the Rawalpindi Chamber of Commerce and Industry (RCCI) in the Bangladeshi capital.

It follows a high-profile visit by Pakistani Deputy Prime Minister Ishaq Dar to Dhaka last month to reset Pakistan-Bangladesh relations, which were scarred by the bloody 1971 conflict but have been reshaped by shifting regional power balances in recent months.

During his meeting with DCCI President Taskeen Ahmed and others, Khan highlighted the uptick in commercial activity between Pakistan and Bangladesh, noting that business communities on both sides were increasingly exploring opportunities in pharmaceuticals, automotive and mineral sectors.

“Khan reaffirmed his commitment to creating a comprehensive and conducive environment for businesses from both countries,” the Pakistani commerce ministry said. “He stressed that enhanced cooperation between private sectors would unlock new avenues for bilateral trade and investment.”

During his visit to Dhaka, Dar met Chief Adviser Muhammad Yunus and apprised him of the key outcomes of his two-day visit, thanking for the “warm hospitality” extended to him and his delegation, according to the Pakistani foreign office.

Pakistan’s Commerce Minister Jam Kamal had also been in Dhaka around the same time, discussing trade and agricultural collaboration, while Pakistan’s foreign secretary Amna Baloch held in April the first bilateral consultations with Bangladesh in 15 years.

“The networking session [in Dhaka] was seen as an important step toward boosting business-to-business collaboration and deepening economic ties between Pakistan and Bangladesh,” the Pakistani commerce ministry said on Tuesday.


Hungary to provide 400 scholarships to Pakistanis under education cooperation — FO

Hungary to provide 400 scholarships to Pakistanis under education cooperation — FO
Updated 23 September 2025

Hungary to provide 400 scholarships to Pakistanis under education cooperation — FO

Hungary to provide 400 scholarships to Pakistanis under education cooperation — FO
  • Statement comes after Pakistani Deputy PM’s meeting with Hungarian FM at the UNGA
  • The two countries announced abolishing visas for diplomatic passport holders in April

ISLAMABAD: Hungary will grant 400 scholarships to Pakistani students under education cooperation between both countries, the Pakistani foreign office said on Tuesday.

The statement came after a meeting between Pakistan Deputy Prime Minister Ishaq Dar and Hungarian Foreign Minister Peter Szijjarto on the sidelines of the 80th United Nations General Assembly session in New York.

Both figures reaffirmed their commitment to further strengthening Pakistan-Hungary bilateral ties on the eve of 60th anniversary of the establishment of diplomatic relations, including by exploring new avenues of cooperation.

“DPM/FM thanked the Hungarian FM for the provision of 400 scholarships to Pakistani students,” the Pakistani foreign office said in a statement.

“The Hungarian FM expressed his government’s commitment to continue supporting education cooperation opportunities for Pakistani students in Hungary.”

During the meeting, both officials agreed to finalize abolition of visas for Pakistani diplomatic and official passport holders, mutual investments, civil aviation cooperation and initiation of direct flight operations between Pakistan and Hungary.

Dar told Szijjarto about the steps undertaken by the Pakistani government to facilitate Hungarian investments in Pakistan. The two leaders also discussed regional and international peace and security.

Szijjarto’s visit to Pakistan along with a business delegation in April saw the signing of the agreement to abolish visa requirements for diplomatic passport holders, along with two memorandums of understanding in the fields of culture and archaeology.

The visit came Islamabad’s push to attract investment from European countries in its priority sectors to achieve sustainable growth after pursuing multiple agreements with regional allies, including Gulf countries.


Islamabad urges ASEAN members to invest in Pakistan’s special economic zones under CPEC

Islamabad urges ASEAN members to invest in Pakistan’s special economic zones under CPEC
Updated 23 September 2025

Islamabad urges ASEAN members to invest in Pakistan’s special economic zones under CPEC

Islamabad urges ASEAN members to invest in Pakistan’s special economic zones under CPEC
  • Founded in 1967, Association of Southeast Asian Nations represents one of the world’s fastest-growing markets
  • Commerce minister urges ASEAN members to export to Pakistan, add value here and then re-export their products

ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal Khan on Tuesday invited Association of Southeast Asian Nations (ASEAN) member states to invest in Pakistan’s special economic zones under the China-Pakistan Economic Corridor (CPEC), amid Islamabad’s attempts to achieve economic stability.

Founded in 1967, ASEAN represents one of the world’s fastest-growing markets. Pakistan became a sectoral dialogue partner of ASEAN in 1993 and is seeking to upgrade to full dialogue partner status, despite the current moratorium on new partners.

Commerce Minister Khan on Tuesday hosted envoys of Indonesia, Malaysia, Philippines, Thailand, Brunei Darussalam, Vietnam and Myanmar in Islamabad, where he reaffirmed Pakistan’s commitment to expand trade, investment and people-to-people links with Southeast Asia.

He urged Southeast Asian firms to invest in Pakistan’s special economic zones, citing improved macroeconomic stability, single-digit inflation and a conducive business climate, according to the commerce ministry.

“Pakistan welcomes you to export to Pakistan, add value here, and then re-export your products,” Khan told ASEAN envoys, calling for stronger multilateral trade links.

CPEC, part of President Xi Jinping’s ambitious Belt and Road Initiative, is a $65 billion network of roads, railways, pipelines and ports in Pakistan that aims to build land and maritime trade routes linking Asia with Africa and Europe via the Arabian Sea.

Pakistan, currently bolstered by a $7 billion International Monetary Fund (IMF) program, is making rigorous efforts to establish itself as a pivotal trade and transit by leveraging its strategic geographical position.

“Pakistan seeks not only to increase bilateral trade but also to build comprehensive, long-term partnerships in technology, skills, and infrastructure,” Khan told the envoys.

“Through technology transfer, value addition in agriculture, and a skilled human resource base, we can take our trade from the current level to its true potential.”

The ASEAN envoys welcomed Pakistan’s outreach and said the region sees a “great potential” in expanding commercial cooperation, according to the commerce ministry.

“Meeting marked a renewed push by Pakistan to anchor itself more firmly in the ASEAN economic landscape, with both sides agreeing to chart a roadmap for increasing trade, investment, and institutional cooperation in the months ahead,” it said.

 


Riyadh endows buses to Islamabad’s Islamic university, reaffirming long-standing support

Riyadh endows buses to Islamabad’s Islamic university, reaffirming long-standing support
Updated 23 September 2025

Riyadh endows buses to Islamabad’s Islamic university, reaffirming long-standing support

Riyadh endows buses to Islamabad’s Islamic university, reaffirming long-standing support
  • Kingdom has backed IIUI since its founding in 1980, funding blocks, labs, buses and a mosque
  • The latest endowment underscores Riyadh’s continued support for students, closer bilateral ties

ISLAMABAD: has presented four buses to the International Islamic University Islamabad (IIUI) to help transport students and staff around the federal capital, the institution said on Tuesday.

The gift from the Saudi government was handed over by its ambassador, Nawaf bin Said Al-Malki, at the university’s new campus.

Addressing the inauguration ceremony, the envoy said Pakistan and enjoyed “exemplary” ties that were “acknowledged worldwide,” adding that the IIUI held a “special place” in the Kingdom’s heart.

“The inauguration was an expression of interest in the growth and development of the university, particularly in facilitating its students through improved transport facilities,” the university said in a statement.

It added the Saudi envoy was also given a briefing on the university’s transport facilities.

IIUI President Prof. Dr. Ahmed Saad Alahmed thanked the Saudi government for the endowment, saying the support would help strengthen bilateral ties and benefit students and staff.

has supported IIUI in substantial ways over the years, from funding infrastructure, laboratories and transport to covering salary shortfalls.

The assistance has included purpose-built facilities such as academic blocks, computer labs, buses for students and even the construction of the King Salman Mosque and cultural center on campus.

Founded in 1980 as an “international” university, IIUI was designed to draw scholars from across the Muslim world, and many of its early rectors, vice presidents and deans came from the Middle East.

and Egypt in particular have regularly seconded academics to lead or teach in the faculties of Shariah, Islamic Studies and Arabic, ensuring the institution reflects both Pakistan’s needs and a broader Islamic outlook.

Beyond IIUI, has long been one of Pakistan’s key donors through financial aid, oil on deferred payments and development assistance.

Riyadh has funded major infrastructure, health and education projects while providing humanitarian relief during natural disasters and crises, and frequently donates transport, medical equipment and other resources to support socio-economic development.


On Saudi National Day, Islamabad reaffirms commitment to strengthening partnership with Riyadh

On Saudi National Day, Islamabad reaffirms commitment to strengthening partnership with Riyadh
Updated 23 September 2025

On Saudi National Day, Islamabad reaffirms commitment to strengthening partnership with Riyadh

On Saudi National Day, Islamabad reaffirms commitment to strengthening partnership with Riyadh
  • Pakistan, have close religious, cultural, diplomatic and strategic ties, with over two million Pakistanis working in the Kingdom
  • The two countries recently signed a landmark defense pact, which aims to enhance joint deterrence and deepen decades of security cooperation

KARACHI: Pakistan on Tuesday reaffirmed commitment to strengthening its longstanding partnership with as the Kingdom marked its 95th National Day, with a special ceremony scheduled to be held in Islamabad.

Pakistan and have close religious, cultural, diplomatic and strategic ties, particularly in trade and defense. The Kingdom is home to over two million Pakistani expatriates, who are the largest source of remittances to the South Asian country.

This year, the Saudi National Day, which is celebrated each year on Sept. 23 to commemorate the proclamation of the Kingdom of in 1932 by King Abdulaziz, follows the signing of a ‘Strategic Mutual Defense Agreement’ between Pakistan and the Kingdom.

Under the pact, aggression against one country would be treated as an attack on both. The deal, sealed during Prime Minister Shehbaz Sharif’s state visit to the Kingdom this month, is meant to enhance joint deterrence and deepen decades of military and security cooperation.

“The Pakistani people cannot forget the economic cooperation of , which supported our economy. Millions of Pakistanis consider their second home, and are actively involved in its construction and development.

The services of Pakistani diaspora in are the cause of cordial relations, prosperity and progress between the two brotherly countries,” PM Sharif said in his message on the day.

“Today, on the occasion of ’s National Day, I reiterate my resolve on behalf of Pakistan that we are determined to further strengthen this long-lasting partnership. May Allah Almighty always bless the Kingdom of with progress and glory. Long live the Pak-Saudi brotherhood, long live the Kingdom of .”

To mark the Saudi National Day, Pakistan’s capital Islamabad has been decorated with Saudi flags and pictures of Crown Prince Mohammed bin Salman with PM Sharif and Army Chief Field Marshal Asim Munir, with buildings adorned with green lights symbolizing the color of the Saudi flag.

This is the first time Pakistan will be holding the Saudi National Day ceremony at the spacious Convention Center building in Islamabad on Tuesday evening, which is likely to be attended by top Pakistani government functionaries, officials of the Saudi embassy and other dignitaries.

In his message, President Asif Ali Zardari felicitated King Salman bin Abdulaziz, Crown Prince Mohammed and the people of on their National Day.

“This day is a reminder of how, in a relatively short span of time, has set remarkable examples of progress and stability under its wise and determined leadership,” he said.

The bond between Pakistan and is rooted in trust, devotion and brotherhood, according to the president.

“For the people of Pakistan, our spiritual connection with the Kingdom is deepened by the presence of Islam’s two holiest sites— the Holy Ka’aba and the Masjid-e-Nabawi. This sacred link lends an enduring strength and uniqueness to our friendship,” he said.

“We take pride in the fact that in recent days our ties have reached new milestones. The fresh partnership forged in the fields of defense and security is not only a reflection of our mutual trust but also a vital step toward peace and stability in the region.”

Pakistan Interior Minister Mohsin Naqvi conveyed his warm greetings and goodwill to the Saudi leadership and the people of the Kingdom, acknowledging the deep-rooted historical and spiritual ties shared between the two brotherly nations, Pakistan’s state-run APP news agency reported.

“Under the dynamic leadership of Crown Prince Mohammed bin Salman, has achieved remarkable milestones of progress,” Naqvi said, emphasizing that the Kingdom’s achievements are a source of pride and encouragement for Pakistan,” he was quoted as saying.

On Monday, Sindh Chief Minister Murad Ali Shah attended a Saudi National Day ceremony in Karachi, where he met Consul General Mohammed N. M. Al-Subaie and congratulated him on the occasion.

“Pakistan- relations are an example in themselves for the world,” Shah was quoted as saying by his office. “The recent [defense] agreement will prove to be a milestone in security of the Muslim world.”


World Bank warns Pakistan’s poverty has climbed to 25.3 percent after years of decline

World Bank warns Pakistan’s poverty has climbed to 25.3 percent after years of decline
Updated 23 September 2025

World Bank warns Pakistan’s poverty has climbed to 25.3 percent after years of decline

World Bank warns Pakistan’s poverty has climbed to 25.3 percent after years of decline
  • Poverty fell from 64.3 percent in 2001-02 to 21.9 percent in 2018-19 before rising again
  • World Bank cites COVID-19, floods, inflation and weak policies as drivers

ISLAMABAD: Pakistan’s gains in poverty reduction have reversed in recent years, with the national poverty rate climbing to 25.3 percent in 2023-24 after falling steadily for nearly two decades, the World Bank said on Tuesday.

The findings were released in a new assessment, Reclaiming Momentum Towards Prosperity: Pakistan’s Poverty, Equity and Resilience Assessment, the first comprehensive review of poverty and welfare trends since the early 2000s.

Drawing on two decades of household surveys and projections, the report warns that Pakistan’s earlier progress has stalled, eroded by economic shocks and weak policy.

“After a steady decline from 64.3 percent in 2001-02 to 21.9 percent in 2018-19, the national poverty rate began to increase in 2020,” said Christina Wieser, a senior economist and one of the report’s lead authors. “Since 2021, poverty has begun to rise, exacerbated by COVID-19, the 2022 floods, inflation and faltering policies and reached 25.3 percent in 2023-24.”

She stressed the need for bold, sustained and people-centered reforms to reduce poverty, strengthen resilience and protect vulnerable populations, adding: “Reforms that expand access to quality services, protect households from shocks and create better jobs, especially for the bottom 40 percent are essential to break cycles of poverty and deliver durable, inclusive growth.”

The World Bank in June raised its global poverty threshold to $4.20 a day, under which about 44.7 percent of Pakistanis fall.

Bolormaa Amgaabazar, the Bank’s country director for Pakistan, said this figure was not directly comparable to the national estimate of 25.3 percent, as the two are based on different benchmarks.

“They are not comparable,” he said. “The 45 percent is based on the upper middle-income poverty line that is the global poverty line, and the 25.3 percent is based on the national poverty line and projections based on that.”

Amgaabazar urged Pakistan to protect earlier poverty gains while accelerating reforms.

“By focusing on results — investing in people, places and access to opportunities, building resilience against shocks, prioritizing fiscal management and developing better data systems for decision-making — Pakistan can put poverty reduction back on track,” he said.

The report found that much of Pakistan’s poverty reduction over the past 20 years was driven by households moving from farm work into low-paying service jobs, but slow structural change has limited diversification, job creation and income growth.

The World Bank outlined four pathways to restore progress, including investing in human capital and local services, building household resilience through stronger safety nets, adopting progressive fiscal measures such as phasing out subsidies in favor of targeted spending and improving data systems to guide policy.

Pakistan has received over $48.3 billion in World Bank assistance since joining in 1950.

The Bank’s current portfolio in the country includes 54 projects with total commitments of $15.7 billion.