ISLAMABAD: As Pakistan gears up to host its first-ever Council of Heads of Government meeting of the Shanghai Cooperation Organization (SCO) in Islamabad, analysts warn that hopes for a breakthrough in ties with arch-rival India remain slim despite the participation of a delegation from the neighboring country.
The summit, scheduled for October 15-16, is considered significant as Indian External Affairs Minister Subrahmanyam Jaishankar will attend the gathering, marking the first visit by a senior Indian official to Pakistan in nearly a decade. However, no bilateral talks are expected due to ongoing tensions over Kashmir. The last high-level interaction between the two nations took place during the SCO meeting in Goa in May 2023, where strained relations persisted.
“They are coming here not for Pakistan but for the SCO meeting, and given the past and the recent history of our relationship, I don’t think we can expect a significant softening, especially when it’s a minister-level official, not a leader of the country,” Dr. Nafees Zakaria, who served foreign ministry spokesman, told Arab News this week while responding a question about the Indian delegation.
The summit comes amid heightened security concerns, following the killing of two Chinese nationals in a suicide bombing in Karachi earlier this month, as well as a general rise in militant attacks across the country.
Asked about his expectations from the regional summit, Zakaria expressed a desire for the SCO to take concrete steps toward promoting peace in the region.
“It would be a significant milestone if these countries could agree on a security arrangement, making the security of this region a shared and collective responsibility,” he said.
REGIONAL INTEGRATION
Speaking to Arab News, Dr. Talat Shabbir, Director of the China-Pakistan Study Center at the Institute of Strategic Studies Islamabad, emphasized the significance of the summit, noting the participating states would focus on trade, connectivity and security.
He stressed that member nations need to set aside their territorial disputes in order to enhance business opportunities and strengthen regional economies for the benefit of their populations.
“We increase our business, we enhance our connectivity, we enhance our economy, and we have to think for the good of the general population of our country, of the region,” he said while also highlighting the political benefits for Pakistan in hosting the multilateral forum.
“There is propaganda against Pakistan that it is being isolated by the world powers, but [this meeting] will prove it’s not true,” he continued. “Had it been isolated, a number of heads of state would not have come to our country.”
Dr. Khaqan Najeeb, former adviser to Pakistan’s finance ministry, said the upcoming SCO meeting could foster regional cooperation on economic issues while addressing shared challenges like security and trade barriers.
“The summit can help Pakistan bolster its economic standing by demonstrating its intent to integrate more deeply into regional and global markets,” he said. “Any enhanced trade agreements with SCO member states could open new markets for Pakistani goods.”
Another analyst, Shakeel Ramay, who writes on regional economic developments, agreed, noting the SCO presents multiple opportunities for Pakistan to tackle its economic and energy challenges.
“Pakistan can benefit from the vast market, as SCO member states constitute 40 percent of the world’s population and have a combined GDP of around $24 trillion,” he told Arab News. “They control 20 percent of the world’s oil and 44 percent of its gas reserves.”
He further added: “With the inclusion of Saudi Arabia and other aspirants, the market size, energy resource share and economic potential will be further enhanced.”
Pakistan has announced that the prime ministers of China and Russia, the vice president of Iran, India’s external affairs minister, along with other heads of government and representatives from multilateral organizations, will attend the regional summit.
To ensure the safety of approximately 900 delegates, stringent security measures have been implemented, with over 10,000 police, paramilitary and army personnel deployed.
Additionally, the federal government has declared public holidays in Islamabad and Rawalpindi on the two days of the summit.
No signs of thaw in India-Pakistan relations as Islamabad prepares to host SCO summit
https://arab.news/5n6xt
No signs of thaw in India-Pakistan relations as Islamabad prepares to host SCO summit
- Analysts believe high-level participation from regional states will dispel the perception of Pakistan’s diplomatic isolation
- Summit is also expected to bolster Pakistan’s economic standing, reflecting an intent to integrate into regional market
Pakistan says repaid over $13.06 billion domestic debt early in last 14 months
- Finance adviser says repayment shows “decisive shift” toward fiscal discipline, responsible economic management
- Says Pakistan’s total public debt has declined from over $286.6 billion in June 2025 to $284.7 billion in November 2025
KARACHI: Pakistan has repaid Rs3,650 billion [$13.06 billion] in domestic debt before time during the last 14 months, Adviser to the Finance Minister Khurram Schehzad said on Thursday, adding that the achievement reflected a shift in the country’s approach toward fiscal discipline.
Schehzad said Pakistan has been repaying its debt before maturity, owed to the market as well as the State Bank of Pakistan (SBP), since December 2024. He said the government had repaid the central bank Rs300 billion [$1.08 billion] in its latest repayment on Thursday.
“This landmark achievement reflects a decisive shift toward fiscal discipline, credibility, and responsible economic management,” Schehzad wrote on social media platform X.
Giving a breakdown of what he said was Pakistan’s “early debt retirement journey,” the finance official said Pakistan retired Rs1,000 billion [$3.576 billion] in December 2024, Rs500 billion [$1.78 billion] in June 2025, Rs1,160 billion [$4.150 billion] in August 2025, Rs200 billion [$715 million] in October 2025, Rs494 billion [$1.76 billion] in December 2025 and $1.08 billion in January 2026.
He said with the latest debt repaid today, the July to January period of fiscal year 2026 alone recorded Rs2,150 billion [$7.69 billion] in early retirement, which was 44 percent higher than the debt retired in FY25.
He said of the total early repayments, the government has repaid 65 percent of the central bank’s debt, 30 percent of the treasury bills debt and five percent of the Pakistan Investment Bonds (PIBs) debt.
The official said Pakistan’s total public debt has declined from over Rs 80.5 trillion [$286.6 billion] in June 2025 to Rs80 trillion [$284.7 billion] in November 2025.
“Crucially, Pakistan’s debt-to-GDP ratio, around 74 percent in FY22, has declined to around 70 percent, reflecting a broader strengthening of fiscal fundamentals alongside disciplined debt management,” Schehzad wrote.
Pakistan’s government has said the country’s fragile economy is on an upward trajectory. The South Asian country has been trying to navigate a tricky path to economic recovery under a $7 billion loan from the International Monetary Fund.
