ISLAMABAD: Maulana Fazlur Rehman, leader of a prominent Pakistani religious party, has met Afghanistan’s interim interior minister Sirajuddin Haqqani and discussed with him internal and external stability of both countries, Rehman’s party said on Friday.
Rehman, who heads the Jamiat Ulema Islam (JUI) party, has been on a visit to Afghanistan since Jan. 7 to hold talks with Taliban officials at a time when ties between Pakistan and Afghanistan are at their lowest ebb due to the rising number of militant attacks in Pakistan.
The Pakistani cleric advocated for strong bilateral relations between both countries against the backdrop of his country’s decision to deport large numbers of “illegal immigrants,” mostly Afghans, in the wake of a surge in deadly attacks, including suicide bombings.
In his meeting with Haqqani, the JUI leader was apprised of the internal security situation of Afghanistan, his party said in a statement.
“The purpose of our visit is to bring internal and external stability in the two countries,” Rehman was quoted as telling the Afghan interior minister. “An increase in trade between the two countries will lead to peace and prosperity.”
The Afghan interior minister expressed his country’s desire to have cordial ties with Pakistan.
“[We] want to move forward through cooperation and talks between Pakistan and Afghanistan on border issues,” Haqqani was quoted as saying.
While the JUI leader, along with a delegation, held talks in Kabul, the Pakistani government distanced itself from the visit.
“Maulana Fazlur Rehman has gone to Afghanistan in a private capacity,” Mumtaz Zahra Baloch, a spokesperson of the Pakistan foreign office, said at a weekly press briefing on Thursday. “The government is not supporting his visit in any way.”
Asked if Islamabad intended to hold talks with the Pakistani Taliban, she said Pakistan was not “interested in dialogue with the TTP (Tehreek-e-Taliban Pakistan) which has carried out several attacks in the country.”
The militant group, which is said to have sanctuaries in Afghanistan, is separate from but a close ally of the Afghan Taliban.
Over the last one year, Pakistan has repeatedly asked the Afghan Taliban to prevent the TTP from using their soil to carry out attacks against Pakistan. Kabul denies the use of its territory by any militant group.
Pakistani religious party leader discusses internal, external stability with Afghan interior minister
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Pakistani religious party leader discusses internal, external stability with Afghan interior minister
- Maulana Fazlur Rehman is on a visit to Afghanistan since Sunday where he has met top Taliban leaders
- Pakistan has chosen to distance itself from the visit, says Rehman undertook it in a ‘personal capacity’
Pakistan’s Engro executes $475 million Islamic financing deal to expand telecom infrastructure
- Islamic banking accounts for over a fifth of Pakistan’s banking assets amid a shift toward Shariah-compliant finance
- The deal brings more than 10,000 telecom towers under Engro’s control, enabling their shared use by multiple operators
KARACHI: Pakistan’s largest conglomerate Engro Corp. has completed a Rs133 billion ($475 million) Islamic financing deal to acquire telecom tower company Deodar, expanding its telecom infrastructure business as the country seeks to strengthen digital connectivity, the company said on Friday.
The transaction, structured entirely through Shariah-compliant financing, brings more than 10,000 telecom towers under Engro’s control and marks one of the largest Islamic financing deals in Pakistan’s infrastructure sector.
Engro, which has major interests in energy, fertilizers, food and petrochemicals, said the acquisition would allow it to scale shared telecom infrastructure, under which a single tower can host multiple mobile network operators, lowering costs and reducing duplication as Pakistan prepares for next-generation digital services.
“My congratulations to the Dawood family and Engro, the Islamic bankers and conventional banks through their Islamic windows on being able to put together a deal of this size,” State Bank of Pakistan Governor Jameel Ahmed said at a ceremony marking the transaction, referring to the company and its chairman. “This is a great achievement which has been supported by the banks.”
The deal was supported by a group of local banks, including United Bank Limited and Meezan Bank, Engro said, highlighting the increasing role of Islamic financing in funding long-term investment in Pakistan.
Islamic banking, which operates without interest and is based on profit-and-loss sharing structures, accounts for more than a fifth of Pakistan’s banking assets, and authorities have said they aim to transition the financial system toward Shariah compliance over the coming years.
The acquisition of Deodar, which was originally carved out of mobile operator Jazz, also aligns with government efforts to digitize the economy by expanding broadband access and supporting digital payments, e-commerce and online public services, though progress has remained uneven due to infrastructure and regulatory challenges.
