ISLAMABAD: Pakistan and China have resolved to undertake high-quality of development of a second phase of the China-Pakistan Economic Corridor, or CPEC 2.0, that would focus on industrialization, Pakistan’s foreign ministry said on Thursday.
The statement came after a 5th meeting of the CPEC Joint Working Group on International Cooperation and Coordination (JWG-ICC) was held in Beijing. It was co-chaired by Pakistan’s Foreign Secretary Amna Baloch and Chinese Vice Foreign Minister Sun Weidong.
China and Pakistan enjoy a close strategic partnership, with the latter’s location on the Arabian Sea providing Beijing an overland route toward the Gulf of Aden and onto the Suez Canal, and enabling Chinese ships to avoid the potential chokepoint of the Malacca Strait.
During the delegation level talks, the two sides reviewed with satisfaction the progress made since the 4th meeting of the JWG-ICC held in Islamabad in January 2024, according to the Pakistani foreign ministry.
“Both sides reaffirmed their commitment to the high quality development of CPEC 2.0, with its emphasis on industrialization and Special Economic Zones (SEZs) as well as on clean energy, agriculture and livelihood projects,” it said in a statement.
“The meeting also acknowledged the pivotal role of CPEC in promoting regional connectivity, win-win cooperation and common prosperity, including through partnerships with other countries.”
Since its initiation in 2013, CPEC has seen tens of billions of dollars funneled into massive transport, energy and infrastructure projects in Pakistan. But the undertaking has been hit by Islamabad struggling to keep up its financial obligations as well as attacks on Chinese targets by militants.
During a visit to China in June last year, Pakistan Prime Minister Shehbaz Sharif had announced both countries had mutually decided to enhance economic cooperation that would enter its next phase with five new corridors.
The Chinese vice foreign minister said 2.0 would focus on growth, livelihood and innovation, and reinforce Pakistan’s national development framework centered on ‘5 Es,’ representing exports, e-Pakistan, energy, environment and equity.
Foreign Secretary Baloch described CPEC as the cornerstone of China-Pakistan economic cooperation as well as a “shining symbol” of the enduring friendship between the two countries.
Both sides expressed resolve to deepen cooperation in the fields of media, cultural exchanges and people-to-people linkages to accelerate the building of a “China-Pakistan Community of Shared Future in the New Era.”
Separately, both countries also held a 4th round of Pakistan-China Bilateral Political Consultations (BPC), at which they reaffirmed commitment to further deepening their partnership.
The two sides also exchanged views on a range of regional and international issues and agreed to further enhance their mutual coordination and consultations, according to the Pakistani foreign ministry.
“Both sides agreed to further deepen their mutual partnerships in sectors such as information technology, agriculture and clean energy, driven by the concept of win-win cooperation and pursuit of people centric, inclusive development,” it said.
“The two sides underscored the need to strengthen their mutual coordination at the multilateral forums, including at the United Nations Security Council.”
Later, the foreign secretary also held a meeting with Executive Vice Foreign Minister Ma Zhaoxu and exchanged views on Pakistan-China relations as well as regional and international issues of common interest.
Pakistan, China reaffirm commitment to ‘CPEC 2.0’ focusing on industrialization
https://arab.news/vjxf9
Pakistan, China reaffirm commitment to ‘CPEC 2.0’ focusing on industrialization
- Since 2013, CPEC has seen tens of billions of dollars funneled into massive transport, energy and infrastructure projects in Pakistan
- CPEC 2.0 will focus on industrialization and special economic zones as well as on clean energy, agriculture and livelihood projects
Pakistan central bank says UAE has confirmed rollover of $2 billion deposits
- The development comes ahead of a review of Pakistan’s $7 billion IMF program, expected in Feb.
- The UAE has rolled over deposits with Pakistan since 2023, helping it shore up its foreign reserves
ISLAMABAD: The United Arab Emirates (UAE) has confirmed a rollover of $2 billion deposits with Pakistan, the Pakistani central bank said on Thursday.
The Gulf country has rolled over the deposits with Pakistan’s central bank since 2023, helping the South Asian country shore up its foreign exchange reserves, strengthen its currency and secure financial bailouts from the International Monetary Fund (IMF).
Pakistan’s $350 billion economy has struggled for decades with boom-and-bust cycles and the South Asian country secured a $7 billion, 37-month loan program from the IMF in Sept. last year. The next review of the program is expected in February.
“UAE has confirmed rollover of its two deposits of $1.0 billion each placed with State Bank of Pakistan for another one year, which were maturing in January 2025,” the Pakistani central bank said in a statement.
The development comes more than a week after Prime Minister Shehbaz Sharif met UAE President Sheikh Mohamed bin Zayed Al-Nahyan in the Pakistani city of Rahim Yar Khan. Sharif later told his cabinet that the UAE president had agreed to roll over the $2 billion loan, which was due to mature this month.
The UAE is Pakistan’s third-largest trading partner after China and the United States (US), and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the UAE foreign ministry. It is also home to more than a million Pakistani expatriates, who are one of the major sources of remittances to the South Asian country.
In January last year, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure, a Pakistani official said, amid Pakistani caretaker prime minister Anwaar-ul-Haq Kakar’s visit to Davos, Switzerland to attend 54th summit of the World Economic Forum (WEF).
Pakistan’s foreign exchange reserves stood at $16.45 billion as of January 10, with SBP-held reserves at $11.73 billion, according to the central bank.
In the past, Pakistan has also secured external financing, a key condition for IMF bailouts, from longtime allies Saudi Arabia and China.
Pakistani airline says ad showing plane flying toward Eiffel Tower never meant to evoke 9/11
- The illustration showed a plane superimposed over the French flag and tilted toward the landmark, with the words ‘Paris, we’re coming today’
- The advert was posted on X by Pakistan International Airlines, or PIA, on Jan. 10, the day that the company resumed flights to European Union
ISLAMABAD: Pakistan’s national airline said Thursday that an advertisement showing a plane heading toward the Eiffel Tower was never intended to evoke the memories of the Sept. 11 attacks.
The illustration, not in video format, shows a plane superimposed over the French flag and tilted toward the Paris landmark, with the words “Paris, we’re coming today.”
The ad was posted on X by Pakistan International Airlines, or PIA, on Jan. 10, the day that the company resumed flights to European Union countries after a four-year ban by the bloc’s aviation safety agency.
Many social media users immediately decried the ad, and Pakistan’s prime minister called for an inquiry. On Tuesday, Deputy Prime Minister Ishaq Dar described the ad as an act of “stupidity.”
PIA spokesman Abdullah Hafeez said Thursday that the ad, which hasn’t been deleted and has more than 21.2 million views, was only ever meant to celebrate that the airline was resuming flights to Europe, and never intended to harm 9/11 survivors or victims’ families.
Hafeez told The Associated Press that he was surprised over the criticism. But he said that “we apologize to those who feel the advertisement hurt them.
“We want to make it clear that we had no intention to hurt the feelings of anyone,” Hafeez said.
He said that the Eifel Tower was shown in the ad because it’s one of the best places in the world.
Curbs on PIA had been imposed in 2020 after 97 people died when a PIA plane crashed in Karachi in southern Pakistan. Then Aviation Minister Ghulam Sarwar Khan said that an investigation into the crash found that nearly a third of
Pakistani pilots had cheated on their pilot’s exams. A government investigation later concluded that the crash was caused by pilot error.
The ban caused a loss of nearly $150 million a year in revenue for PIA, officials say.
Pakistan has some connections to the Sept. 11 attacks. One of the 9/11 masterminds, Khalid Sheikh Mohammed, was detained in the country in 2003. In 2011, Osama bin Laden was killed in a US special forces raid in Pakistan.
‘Tremendous response’: Pakistani companies say several MoUs signed with Saudi firms at minerals summit
- Future Minerals Forum, world’s premier platform for minerals, was held in Riyadh from Jan.14-16
- Pakistan in recent months has intensified efforts to attract foreign investment in its mining sector
ISLAMABAD: Pakistani companies signed several agreements and joint ventures with Saudi firms during this week’s three-day Future Minerals Forum (FMF) summit in Riyadh, members of the delegation confirmed on Thursday, praising the “tremendous response” that the Pakistan Pavilion received at the Kingdom’s capital.
The Future Minerals Forum (FMF), the world’s premier platform for minerals, was held in Riyadh from Jan. 14-16. It brought together governments, international organizations and key stakeholders to collectively shape the future of the global minerals industry. With 14,000 participants from 178 countries, including 75 government representatives, FMF says it serves as a catalyst for global collaboration.
Pakistan’s Petroleum Minister Dr. Musadik Malik led a delegation of Pakistani companies and businesspersons at the summit. Pakistan set up a pavilion at the FMF where 12 leading companies, including the Pakistan Petroleum Limited (PPL), Mari Petroleum Company, Oil & Gas Development Company Limited (OGDCL), Bolan Mining Enterprises, HTMA Mining and Wah Nobel Group, showcased their potential in the country’s mining sector.
“Pakistan Pavilion received a tremendous response during three days at FMF and many deals, joint ventures, and MoUs were signed with different Saudi firms,” Syed Mahmood ul Hassan, the general manager of Pakistan’s premier natural gas supplier PPL, and focal person of the country’s pavilion at the FMF summit, told Arab News over the phone from Riyadh.
He said around 35 Saudi firms from across the Kingdom actively engaged with Pakistani companies at the forum.
“About four MoUs have been signed by us and it has been very helpful in seeking collaboration, joint ventures and investments,” Hassan said. “We hope that in the future we will continue to materialize whatever talks we have conducted.”
Arslan Younus, business development manager at Wah Nobel Group, a Pakistani company engaged in producing a wide range of commercial explosives, detonators and drilling and blasting accessories, said the company signed four MoUs with Saudi firms during the FMF Summit.
“We have signed four MOUs with Saudi mining companies to offer our drilling and blasting services for their upcoming mining and mineral projects in the Kingdom,” he told Arab News.
Younus said these agreements were signed with the Saudi Gold Refinery, the Kingdom’s largest mining company, the Saudi Mining Company, a Saudi incubation firm and AMAK mining company.
With numerous projects emerging in the Kingdom, particularly under Saudi Vision 2030 in the mining and mineral sectors, Younus expressed hope for more collaborations.
“Now we are entering the Saudi market through joint ventures and are optimistic about establishing strong collaborations,” he said.
Saudi Arabia’s Mining Minister Bandar Alkhorayef told Reuters on Wednesday that mining company Manara Minerals was looking at investing in Pakistan’s Reko Diq mine, saying that the Saudi Development Fund could contribute over $100 million to Pakistan’s mining infrastructure.
Located in the country’s southwest, Reko Diq is considered one of the world’s largest underdeveloped copper-gold areas by global mining company Barrick Gold Corp.
Saudi Arabia has offered Pakistan a 15 percent investment stake in the copper and gold mine project, Pakistan’s state media reported in September 2024.
Muhammad Yousaf, the focal person for mines and minerals at the Trade Development Authority of Pakistan, said the South Asian country offered highly attractive investment opportunities for Saudi investors, which is why leading Pakistani companies participated in the summit to capitalize on the opportunities offered by Riyadh.
“All of these companies are big names in mines and minerals exploration,” Yousaf told Arab News.
He said the Pakistani delegation had “very good discussions” with Saudi company Manara Minerals, hoping the investment would realize “soon.”
Pakistan Navy hands over command of multi-nation task force to New Zealand
- Combined Task Force 150 conducts maritime security operations outside the Arabian Gulf
- Pakistan Navy says intercepted narcotics with street value exceeding $50 million in six months
ISLAMABAD: Pakistan’s navy handed over command of the Combined Task Force (CTF) 150 multi-nation task force to New Zealand on Thursday, the navy said in a statement, after heading it for six months during which it boosted cooperation with regional allies and intercepted narcotics worth millions of dollars.
CTF 150 was established in February 2002 and is one of five operational task forces under the Combined Maritime Forces, the largest multi-nation naval alliance in the world. CTF 150 conducts maritime security operations outside the Arabian Gulf against threats from non-state actors.
Pakistan Navy Commodore Asum Sohail Malik turned over command to Royal New Zealand Navy Commodore Rodger Ward during a change of command ceremony at the Naval Support Activity in Bahrain. Pakistan had taken command of CTF 150 in July 2024.
The navy said during Pakistan’s tenure as head of the CTF 150, the task force conducted numerous maritime security operations. Pakistan Navy and Pakistan Maritime Security Agency ships independently interdicted three narcotics-laden dhows, the navy’s media wing said.
“Collectively, Pakistan Navy and CMF intercepted approximately 10 tons of narcotics, with a street value exceeding 50 million US dollars over the last six months,” Pakistan Navy said in a statement.
It said that under Pakistan Navy’s leadership, CTF 150 also actively fostered regional collaboration, securing the participation of ships from Kenya Navy and Royal Navy of Oman in CTF 150 operations.
The incoming Commander of the CTF 150, Commodore Ward, expressed his gratitude to Pakistan Navy for its exemplary leadership and operational successes during its tenure.
The new CTF 150 commander has an extensive background in maritime operations, with deployments to Malaysia, the Solomon Islands, Afghanistan, and Iraq, the CMF said in a statement.
This will mark the second time New Zealand has taken command of CTF 150.
Pakistan polio program says 73 cases reported in 2024
- Seventy-third polio case of 2024 reported from Pakistan’s southern Thatta district
- Pakistan is scheduled to hold first nationwide vaccination drive of 2025 from Feb. 3
KARACHI: Pakistan’s anti-polio program on Thursday confirmed detecting another poliovirus case from last year, saying that the total tally of cases reported in 2024 have now climbed to 73.
Polio is a paralyzing disease that has no cure. Multiple doses of the oral polio vaccine and completion of the routine vaccination schedule for all children under the age of five is essential to provide children high immunity against the disease.
The Regional Reference Laboratory for Polio Eradication at the National Institute of Health confirmed that the 73rd case has been reported in a child from Pakistan’s southern Thatta district.
“The onset of this case was on December 10, 2024,” the Pakistan Polio Eradication Programme said in a statement. “This is the first polio case from Thatta for 2024.”
Giving a breakdown of the cases reported in 2024, the program said 27 cases were reported from Balochistan, 22 from Khyber Pakhtunkhwa, 22 from Sindh, and one each from Punjab and Islamabad.
Pakistan, along with neighboring Afghanistan, remains the last polio-endemic country in the world. In the early 1990s, Pakistan reported around 20,000 cases annually but in 2018 the number dropped to eight cases. Six cases were reported in 2023 and only one in 2021.
Pakistan’s polio eradication efforts have met several challenges in recent years, including attacks by militants and misinformation by religious hard-liners.
The Pakistan polio program is scheduled to hold the country’s first nationwide vaccination drive of this year from Feb. 3 till Feb. 9.
“It is crucial for parents to ensure vaccination for all their children under the age of five to keep them protected,” it said.
