Pakistani PM meets Chinese executives in bid to increase cooperation in space, satellite technology

Pakistan's Prime Minister, Shehbaz Sharif (left) meets a delegation of GalaxySpace in Islamabad, Pakistan, on April 22, 2025. (PID)
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Updated 22 April 2025
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Pakistani PM meets Chinese executives in bid to increase cooperation in space, satellite technology

  • GalaxySpace manufactures low-cost, mass-production low earth orbit satellites for commercial space sector
  • Pakistan, China have deepened space cooperation through joint satellite development, planned lunar mission in 2028

ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif on Tuesday met executives from Chinese space technology company GalaxySpace and discussed increasing cooperation in the fields of space and satellite technology and telecommunications.

Pakistan and China have deepened their space cooperation in recent months through the joint development of satellites and are planning a lunar mission in 2028. China has been key in advancing Pakistan’s space program, supporting satellite launches like PakSat-MM1 and PakSat-1R, and offering technical training through collaboration between the China National Space Administration (CNSA) and the Pakistan Space and Upper Atmosphere Research Commission (SUPARCO). 

On Tuesday, Sharif received a delegation from GalaxySpace, which specializes in developing and manufacturing low-cost, mass-production low earth orbit (LEO) satellites for the commercial space sector, with the aim of delivering high-speed broadband connectivity to remote and underserved regions around the world. The firm is often likened to US company SpaceX’s Starlink.

“GalaxySpace delegation expresses keen interest in investing in Pakistan’s space technology industry and joint ventures with Pakistani space technology institutions and private telecom companies,” Sharif’s office said in a statement after he met with the company’s chairman Xu Ming.

Sharif said Pakistan was looking to increase cooperation with China in space and satellite technology, telecommunications and the development of satellite Internet.

“Pakistan is giving utmost importance to the space technology sector,” the statement quoted Sharif as saying. 

In February this year, Pakistan and China signed an MoU for Pakistan’s first lunar rover to be included in Beijing’s Chang’E 8 mission, which is a robotic exploration of the lunar south pole expected to launch in 2028. Pakistani scientists will operate the rover from Earth to map the lunar terrain, examine soil composition, assess radiation and plasma conditions and test emerging technologies to support long-term human presence on the moon.

Pakistan’s space agency has also signed an agreement with China for Pakistan’s first astronaut to embark on a mission to a Chinese space station.

In May 2024, Pakistan launched its first lunar satellite aboard China’s Chang’e-6 probe, which successfully landed on the moon’s far side, which is not visible from Earth. The mission returned in June, making China the first nation to bring back samples from this remote lunar region.


Pakistan stocks hit another all-time high as optimism prevails over worker remittances

Updated 20 January 2026
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Pakistan stocks hit another all-time high as optimism prevails over worker remittances

  • Pakistan recorded an inflow of $3.6 billion in Dec., with officials expecting remittances to exceed $40 billion this fiscal year
  • ENGROH, PPL, SAZEW, OGDC and PSO collectively added 661 points as the benchmark KSE-100 index rose by 860 points

ISLAMABAD: The Pakistan Stock Exchange (PSX) hit a another all-time high as it crossed 188,000 points on Tuesday, amid hopes of strong remittance inflows and budget relief linked to the International Monetary Fund (IMF) talks.

Pakistan recorded an inflow of $3.6 billion in December, with Saudi Arabia emerging as the largest contributor. Pakistani officials expect remittances to exceed $40 billion this fiscal year.

On Tuesday, the benchmark KSE-100 index gained 860.09 points, or 0.46 percent, to close at 188,621.78 points, up from the previous close of 187,761.69 points, according to PSX data.

Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News the market witnessed bullish activity amid speculation of the earnings season.

“FM (finance minister) expectations for $41 billion remittances in FY26, and expectations over renegotiation of IMF deal for relief in federal budget played a catalyst role in the record close at PSX,” he said.

Pakistan is currently navigating a long path to economic recovery under a $7 billion Extended Fund Facility (EFF) approved in Sept. 2024, which has seen Islamabad take several reforms, including privatization of loss-making state entities.

Meanwhile, Pakistani market research firm Topline Securities said in its daily review that the upward momentum at PSX was driven by buying from local mutual funds.

“Additionally, SAZEW [Sazgar Engineering Works Limited] notified that it will commence bookings for its CKD [Completely Knocked Down models] — ‘TANK-500 Hi4-T 4x4 2.0L Turbo AT PHEV and HEV’ — starting Monday, January 26, 2026,” Topline Securities Senior Equity Trader Naveed Nadeem said.

CKD means the cars are assembled locally from imported parts.

Engro Holdings Limited (ENGROH), Pakistan Petroleum Limited (PPL), SAZEW, Oil & Gas Development Company Limited (OGDC), and Pakistan State Oil (PSO) collectively added 661 points to the index, according to the research firm.

It said a total of 1,222 million shares were traded at a value of $227.86 million (Rs63.8 billion) on Tuesday, with Hascol Petroleum Limited topping the volume chart by trading 113 million shares.