ISLAMABAD: Minister for Finance and Revenue Muhammad Aurangzeb met Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki on Wednesday and discussed joint ventures and business collaborations as well as steps Islamabad is taking as it navigates a tough reforms agenda mandated by the International Monetary Fund (IMF).
Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as the top source of remittances to the cash-strapped South Asian nation.
In February 2019, Pakistan and Saudi Arabia inked investment deals totaling $21 billion during a visit by Saudi Crown Prince Mohammed bin Salman to Islamabad. The agreements included about $10 billion for an Aramco oil refinery and $1 billion for a petrochemical complex at the strategic Gwadar Port in Balochistan.
Both countries have been working in recent months to increase bilateral trade and investment, and the Kingdom in April this year reaffirmed its commitment to expedite an investment package worth $5 billion for Pakistan.
“Aurangzeb expressed deep appreciation for Saudi Arabia’s consistent economic support to Pakistan, while highlighting the renewed interest shown by Saudi investors in pursuing joint ventures and business collaborations with Pakistan’s private sector,” Radio Pakistan said on Thursday.
“Aurangzeb noted the significant outcomes of the high-level business delegation’s visit from Saudi Arabia to Pakistan in May, aimed at exploring investment opportunities, expanding bilateral cooperation, and scaling up partnerships across diverse sectors.”
The minister also outlined Pakistan’s “positive” economic trajectory, citing key indicators such as currency stabilization, reduced inflation, a surge in remittances, prudent management of the current account deficit and foreign exchange reserves sufficient to cover two months of imports.
“The Minister emphasized that structural reforms are pivotal for ensuring sustainable economic growth and stability, forming a cornerstone of the government’s policy agenda,” Radio Pakistan said.
The report said Al-Malki “commended” the government of Pakistan’s efforts in implementing structural and institutional reforms and reiterated the Kingdom’s “unwavering commitment to contributing to Pakistan’s economic growth.”
“The Ambassador also acknowledged the immense potential for investment and business opportunities between the two countries,” Radio Pakistan said. “He indicated that a Saudi business delegation is expected to visit Pakistan in the coming months to further explore areas for joint ventures and collaborative investments.”
Aurangzeb has said in recent weeks Pakistan will focus on meeting its external financing needs by speaking with foreign governments and lenders to draw foreign investment as well as seeking loan rollovers. The government is also seeking to focus on more sustainable forms of external financing such as direct investment and climate financing.
Pakistan and the IMF reached an agreement for a new 37-month $7 billion loan program in July. The IMF has said the program is subject to approval from its executive board and obtaining “timely confirmation of necessary financing assurances from Pakistan’s development and bilateral partners.”
Last month, Bloomberg reported Pakistan had secured commitments from China, Saudi Arabia and the United Arab Emirates to roll over debt for a year, a boost for Islamabad as it awaits final approval of the IMF loan program.
Rollovers or disbursements on loans from Pakistan’s long-time allies, in addition to financing from the IMF, have helped Pakistan meet its external financing needs in the past.
Tough conditionalities placed by the IMF, such as raising tax on agricultural incomes and lifting electricity prices, have unleashed street protests and prompted concerns about poor and middle class Pakistanis grappling with rising inflation and the prospect of higher taxes.
Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy
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Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy
- Last month, Pakistan said it had secured commitments from China, Saudi Arabia and UAE to roll over debt for a year
- Debt rollovers will be a boost for Islamabad as it awaits final approval of a $7 billion IMF loan program signed in July
Government to deploy army in Islamabad from Saturday to ensure security of SCO Summit
- The Shanghai Cooperation Organization Summit is scheduled to be held on October 15 and 16
- The decision comes at a time when Islamabad and nearby areas have witnessed political protests
ISLAMABAD: The government has decided to deploy the army in the federal capital starting tomorrow, Saturday, to ensure the city’s safety ahead of the Shanghai Cooperation Organization (SCO) Summit on October 15 and 16, with foreign dignitaries arriving from various countries, as per an official notification released on Friday.
The is an important Eurasian political, economic and security alliance founded in 2001 by China, Russia and several Central Asian nations. Over the years, it expanded to include countries like India and Pakistan, making it a significant regional bloc.
Pakistan is hosting the SCO Council of Heads of Government summit in Islamabad under its rotating chairmanship of the organization, with the participants expected to discuss issues related to trade, economic cooperation, security, and regional stability.
Among other international leaders, Pakistan also extended invitation to Indian Prime Minister Narendra Modi, though the delegation from New Delhi will be spearheaded by External Affairs Minister Subrahmanyam Jaishankar.
“Pursuant to the request made by the Office of the Chief Commissioner, ICT [Islamabad Capital Territory] ... the Federal Government, in exercise of the powers conferred under Article 245 of Constitution, 1973, and under Sections 4 & 5 of Anti-Terrorism Act, 1997, is pleased to authorize deployment of requisite strength of Pakistan Army in aid of civil power from 5th to 17th October, 2024, in ICT, for maintaining law and order situation with respect to 23rd meeting of SCO Council of Heads of Government and visits of VVIP delegation for the said meeting,” the interior ministry announced in an order.
The decision comes at a time when Islamabad and the nearby city of Rawalpindi have witnessed protests by various political actors in recent months.
The police also attempted to prevent a protest by former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party near the parliament building on Friday, blocking highways and suspending cellphone services in the capital.
The government maintained it was not the time for protests, as state guests were visiting Islamabad, making it crucial to ensure their safety.
The interior ministry also said in its order that the exact area of deployment, along with the number of additional troops if required, would be worked out by the capital territory administration in consultation with relevant stakeholders.
Pakistan government to host all-parties conference on Palestine on October 7
- The conference will mark one year since Israel began its military campaign in Gaza, killing over 40,000 people
- The event comes at a time when the conflict in Gaza has spread to Lebanon and threatens to engulf the region
ISLAMABAD: Prime Minister Shehbaz Sharif’s administration on Friday decided to hold an all-parties conference on Palestine on October 7, marking one year since the beginning of Israel’s ongoing war in the Gaza Strip, with a key coalition member welcoming the decision.
Pakistan has condemned the conflict in Gaza on various international forums, highlighting the toll of over 40,000 Palestinian lives, mostly women and children, while calling for an immediate ceasefire and accountability for Israel’s “war crimes.”
Pakistan, which does not recognize Israel, has long supported the Palestinian cause, dating back to its own independence in 1947.
All-parties conferences in Pakistan have been convened in the past to address critical issues that require the country’s political leaders to rise above their differences and show national solidarity.
“I welcome the Government’s decision for the President and Prime Minister to host an all parties conference on Palestine on 7th October,” Bilawal Bhutto-Zardari, whose Pakistan Peoples Party’s support proved vital for Sharif while forming the government, said in a social media post.
“One year since occupation forces began their ruthless massacre in Gaza the war theater has expanded to include Lebanon and threatens to engulf the entire region,” he added. “The whole country must speak with one voice against the imperialists Zionist agenda.”
According to local media reports, the decision was taken after Bhutto-Zardari met with the prime minister along with the chief of the Jamaat-e-Islami party, Hafiz Naeem-ur-Rehman, to discuss the situation in Palestine.
Rehman recently led anti-government protests after the presentation of the last budget in which the Sharif administration imposed additional taxes.
“Oct. 7 will be observed as the Palestine Solidarity Day as it is on this day last year that Israel began the latest wave of atrocities against the people of Palestine,” reported Dunya TV.
‘History has been made’: Sirbaz Khan becomes first Pakistani to summit world’s 14 tallest peaks
- The Pakistani climber has summitted 11 of the 14 highest mountains without using supplemental oxygen
- His fellow climbers praise him for his skill and say his name is etched in history and will inspire everyone
KHAPLU, Gilgit-Baltistan: Renowned Pakistani climber Sirbaz Khan made history on Friday by becoming the first Pakistani to summit all 14 of the world’s highest peaks, with his successful ascent of Shishapangma, standing at 8,027 meters, as confirmed by Pakistan’s Alpine Club and Imagine Nepal.
The 14 peaks, often referred to as the “eight-thousanders,” are over 8,000 meters high and are considered the ultimate test in high-altitude mountaineering. Khan, who was born and raised in Hunza, embarked on this journey in 2017 with the ascent of Nanga Parbat, one of the deadliest mountains in the world.
Over the years, he has climbed formidable peaks, including K2, Everest and Annapurna, solidifying his reputation as one of the world’s elite mountaineers. He also completed 11 of these summits without supplemental oxygen, demonstrating his remarkable endurance and skill.
“Sirbaz Khan has become the first Pakistani mountaineer to conquer all 14 of the world’s peaks above 8,000 meters, in an incredible display of courage and determination,” Karrar Haidri, the general secretary for the Alpine Club of Pakistan, told Arab News in a text message. “This extraordinary accomplishment demonstrates his unwavering passion and dedication to the sport of mountaineering.”
Haidri said Khan had faced the most extreme conditions during his mountaineering career.
“Faced with freezing temperatures, treacherous avalanches, oxygen-depleted altitudes, and the constant threat of crevasses, he has repeatedly demonstrated his resilience and strength,” he added. “His success not only represents personal triumph but also serves as an inspiration to mountaineers worldwide.”
Khan’s achievement was also acknowledged by Imagine Nepal, the tour company that organized the expedition, in a social media post.
“In an extraordinary achievement, 11 climbers from Imagine Nepal reached the true summit of Mt. Shishapangma (8,027m) at 4:06 p.m. CST [Central Standard Time] on 04 October 2024,” it wrote on Facebook.
“Mr. Sirbaz Khan has earned his place in history by summiting all 14 of the highest peaks, making him the first Pakistani climber to achieve this feat,” the company added.
Speaking to Arab News, Shahbaz Khan, the Pakistani climber’s brother, said the whole family was celebrating the moment.
“We are gathered to attend the marriage ceremony of our cousin,” he said. “All of our relatives are here and celebrating Sirbaz’s achievement.”
He said everyone was praying for his safe descent from the treacherous mountain, adding the next step would be to warmly receive him upon his arrival in Pakistan.
Khan also started receiving congratulations from fellow climbers soon after the news of his success began to spread.
“I salute your monumental achievement,” Shehroz Kashif, a young climber who has already conquered 13 of the world’s tallest peaks, said in a Facebook post. “Becoming the first Pakistani to summit all 14 8,000ers is a testament to your unwavering determination, resilience, and mountaineering prowess.”
“Your name etched in history inspires a nation,” he added.
Kashif noted that he will be following in Khan’s footsteps “in a few days,” as he prepares to summit the last of the 14 peaks on his list in Tibet.
Pakistan’s prominent female mountain climber Naila Kiani also applauded the development on social media.
“First Pakistani to summit all 14 X 8,000m peaks,” she said without naming Khan. “History has been made.”
Pakistan issues dengue prevention advisory as outbreak expected in 10 cities this month
- Karachi, Lahore, Peshawar, Rawalpindi, Islamabad, Hyderabad, Faisalabad, Sialkot, Larkana, Multan at risk
- Dengue fever is endemic to Pakistan, which experiences year-round transmission with seasonal peaks
ISLAMABAD: Pakistan’s government-run National Institute of Health (NIH) on Friday issued a dengue prevention advisory after the Pakistan Meteorological Department (PMD) warned at least 10 Pakistani cities could face an outbreak in October.
Over 21,000 dengue cases were reported in Pakistan last year while 8,909 cases have been reported so far this year, the NIH said.
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, which in its most severe form 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.
“It is imperative to work on prevention while staying vigilant for detection of cases and ensuring preparedness to launch response activities for curtailing the transmission of dengue fever,” the NIH said, urging the strengthening of disease surveillance and awareness campaigns by authorities and personal protection by members of the public. It also called on hospitals to improve preparedness.
“Based on the analysis, the environment has become conducive from mid of September 2024 for dengue onset and it is predicted that it may outbreak in October 2024, particularly in ten major cities of Pakistan i.e., Karachi, Lahore, Peshawar, Rawalpindi, Islamabad, Hyderabad, Faisalabad, Sialkot, Larkana and Multan as well as in post monsoon rainfall affected areas of Pakistan,” the PMD said in an advisory last week.
“It is advised to all stakeholders to take preemptive measures for the dengue outbreak in the districts. National Health agencies and Dengue control centers are advised to keep themselves updated on the PMD website.”
The PMD said dengue outbreaks occurred in the post-monsoon season, which usually falls between Sept. 20 and Dec. 5 if conditions are favorable. It added that the active period for dengue attacks was two hours after sunrise and two hours before sunset, while breeding stopped once the temperature fell below 16°C.
Dengue fever is endemic to Pakistan, which experiences year-round transmission with seasonal peaks.
Indian external affairs minister to visit Pakistan for SCO summit amid strained relations
- Subrahmanyam Jaishankar visit comes at a time when Pakistan has criticized Indian elections in Kashmir
- The last high-level visit between the two countries took place in 2023 when Bilawal Bhutto went to Goa
ISLAMABAD: Indian authorities announced on Friday their External Affairs Minister Subrahmanyam Jaishankar will visit Pakistan amid frosty relations between the two countries to attend the Shanghai Cooperation Organization (SCO) summit scheduled for this month.
This will be the first visit by an Indian external affairs minister to Pakistan in nearly a decade, though it is unclear whether he will meet Pakistani officials on the sidelines of the event.
Relations between India and Pakistan hit a major low in 2019 when New Delhi revoked Article 370, which granted special autonomy to Muslim-majority state of Kashmir.
Jaishankar’s visit comes at a time when India has held elections in the disputed Himalayan region, a process criticized by Pakistan as illegitimate and an attempt to normalize its control over the territory.
“The external affairs minister will lead a delegation to Pakistan to participate in the SCO summit which will be held in Islamabad on October 15 and 16,” Indian external affairs ministry spokesman Randhir Jaiswal announced during a news conference.
The South Asian neighbors have fought three wars, including two over control of the disputed Kashmir region in the Himalayas. New Delhi accuses Islamabad of aiding and abetting Islamist militants fighting Indian rule in the region, a charge Pakistan denies.
The last high-level visit between the two countries took place in May 2023 when Bilawal Bhutto-Zardari, Pakistan’s foreign minister at the time, attended the SCO foreign ministers’ meeting in India’s coastal state of Goa.
While Bhutto-Zardari did not meet any Indian leaders, he and Jaishankar used the forum to trade blame for their frosty ties.
- With input from Reuters
