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Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy

Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy
Pakistan Finance Minister Muhammad Aurangzeb speaks during a meeting with Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki at the office of the Ministry of Finance in Islamabad on September 11, 2024. (Photo courtesy: Finance Ministry)
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Updated 12 September 2024

Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy

Pakistani finance minister discusses joint ventures, business collaborations with Saudi envoy
  • Last month, Pakistan said it had secured commitments from China, 海角直播 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

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 海角直播 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 海角直播 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.
鈥淎urangzeb expressed deep appreciation for 海角直播鈥檚 consistent economic support to Pakistan, while highlighting the renewed interest shown by Saudi investors in pursuing joint ventures and business collaborations with Pakistan鈥檚 private sector,鈥 Radio Pakistan said on Thursday.聽
鈥淎urangzeb noted the significant outcomes of the high-level business delegation鈥檚 visit from 海角直播 to Pakistan in May, aimed at exploring investment opportunities, expanding bilateral cooperation, and scaling up partnerships across diverse sectors.鈥
The minister also outlined Pakistan鈥檚 鈥減ositive鈥 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.
鈥淭he Minister emphasized that structural reforms are pivotal for ensuring sustainable economic growth and stability, forming a cornerstone of the government鈥檚 policy agenda,鈥 Radio Pakistan said.聽
The report said Al-Malki 鈥渃ommended鈥 the government of Pakistan鈥檚 efforts in implementing structural and institutional reforms and reiterated the Kingdom鈥檚 鈥渦nwavering commitment to contributing to Pakistan鈥檚 economic growth.鈥
鈥淭he Ambassador also acknowledged the immense potential for investment and business opportunities between the two countries,鈥 Radio Pakistan said. 鈥淗e 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.鈥
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 鈥渢imely confirmation of necessary financing assurances from Pakistan鈥檚 development and bilateral partners.鈥
Last month, Bloomberg reported Pakistan had secured commitments from China, 海角直播 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鈥檚 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.


Pakistan court jails Imran Khan aides for up to 10 years for May 2023 riots

Pakistan court jails Imran Khan aides for up to 10 years for May 2023 riots
Updated 5 sec ago

Pakistan court jails Imran Khan aides for up to 10 years for May 2023 riots

Pakistan court jails Imran Khan aides for up to 10 years for May 2023 riots
  • Senior Khan aides Omar Ayub Khan, Shibli Faraz, Zartaj Gul Wazir handed 10-year prison sentences
  • Former information minister Chaudhry Fawad Hussain, Zain Qureshi among 34 acquitted by court

ISLAMABAD: An anti-terrorism court (ATC) in Pakistan鈥檚 eastern city of Faisalabad sentenced senior aides of former prime minister Imran Khan for up to 10 years in prison on Monday for being involved in the attack on a federal minister鈥檚 house during the May 9, 2023, riots, Khan鈥檚 Pakistan Tehreek-e-Insaf (PTI) party said in a statement.

Angry Khan supporters took to the streets on May 9, 2023, when the former prime minister was first briefly arrested by the country鈥檚 anti-corruption agency, NAB, in a land bribery case popularly called the Al-Qadir trust case. The government says supporters of Khan鈥檚 PTI had attacked important state buildings and damaged vehicles during the riots and ransacked military facilities. Khan and his aides deny instigating supporters to attack government and military installations. 

According to the PTI, the ATC sentenced 75 people out of a total of 109 accused, acquitting 34. Fifty-nine were issued 10-year prison sentences, including senior Khan aides Omar Ayub Khan, Shibli Faraz, Zartaj Gul Wazir, and others for attacking the residence of Minister for Provincial Coordination Rana Sanaullah in Faisalabad during the May 9 riots, the party said. 

鈥淯nder the guise of May 9, innumerable injustices have been inflicted upon ordinary citizens, families and leadership of PTI, harassed, lives shattered, and individuals subjected to unspeakable torment,鈥 the PTI said in a message to the media. 

Other aides of the former prime minister slapped with 10-year imprisonment sentences include Sheikh Rashid Shafiq, nephew of former railways minister Sheikh Rashid Ahmed, Rai Murtaza Iqbal, Kanwal Shauzab, Rai Hassan Nawaz, Ahmad Chattha, Ansar Iqbal, Bilal Ijaz, Ashraf Sohna, Mehr Javed, Shakeel Niazi and others.

Former information minister Chaudhry Fawad Hussain and Zain Qureshi, son of senior Khan aide Shah Mahmood Qureshi, were among those acquitted of the charges. 

Earlier this month, a court in Pakistan鈥檚 eastern city of Lahore sentenced over a dozen members of the PTI to as many as 10 years in prison for their involvement in the May 9, 2023, riots. These included Yasmin Rashid, Ejaz Chaudhry, Mahmood-ur-Rashid and Umar Sarfaraz Cheema. PTI leaders Alia Hamza and Sanam Javed were also sentenced to five years in prison. 

Earlier, an ATC in Pakistan鈥檚 eastern Sargodha city sentenced Khan aides Ahmed Chattha, Bilal Ejaz and Punjab Assembly Opposition Leader Ahmed Khan Bachar to 10 years in prison on July 22 for their involvement in the 2023 riots as well.

It was followed by the sentencing of 108 PTI members on July 31, including Omar Ayub Khan, Faraz, Hamid Raza and Wazir to 10 years in prison by an anti-terrorism court in Faisalabad on July 31.

Pakistan鈥檚 Information Minister Attaullah Tarar has welcomed the court鈥檚 ruling, accusing PTI supporters of setting fire to government buildings, damaging military property and injuring law enforcement personnel during the May 9, 2023, unrest.

Khan, who remains popular despite being ousted from office after a parliamentary vote in April 2022, says the cases against him are politically motivated to keep him and his PTI away from power. The government denies these allegations and says Khan鈥檚 party carries out violent protests to derail the government鈥檚 efforts to ensure sustainable economic progress. 

Pakistan鈥檚 top court last week granted bail to Khan in eight cases linked to the 2023 riots. He has been in jail since August 2023 when a court sentenced him to three years in prison for illegally selling state gifts while he was the premier. The sentence barred the opposition leader from contesting in 2024 general elections. 


Pakistan slams India鈥檚 bypassing of Indus Waters Treaty in flood warning

Pakistan slams India鈥檚 bypassing of Indus Waters Treaty in flood warning
Updated 30 min 51 sec ago

Pakistan slams India鈥檚 bypassing of Indus Waters Treaty in flood warning

Pakistan slams India鈥檚 bypassing of Indus Waters Treaty in flood warning
  • India sent flood warning on River Tawi via diplomatic note instead of Indus Waters Commission
  • Treaty was suspended by New Delhi in April after blaming Pakistan for attack in Indian-administered Kashmir聽

ISLAMABAD: Pakistan on Monday accused India of violating the Indus Waters Treaty (IWT) by sending a flood warning through diplomatic channels instead of the treaty鈥檚 official mechanism, saying the move was a 鈥渟erious violation of international law.鈥

The statement came a day after the Indian High Commission in Islamabad warned of high flood levels in the River Tawi in Indian-administered Kashmir, despite New Delhi announcing in April that it had suspended the decades-old treaty. 

鈥淥n 24 August 2025, India communicated flood warnings through diplomatic channels, rather than through the Indus Waters Commission as required under the Indus Waters Treaty,鈥 the Foreign Office said, adding that India鈥檚 declaration to hold the treaty in abeyance could have 鈥渟ignificant negative consequences for peace and stability in South Asia.鈥

The River Tawi, which joins Pakistan鈥檚 Chenab River, runs through the border districts of Gujrat and Sialkot. 

Following the Indian alert, the Provincial Disaster Management Authority (PDMA) in Punjab issued a flood warning, directing district administrations to activate monitoring and early warning systems.

A letter from the Indian High Commission in Islamabad on Sunday, seen by Arab News, stated: 鈥淩iver and site Name: Tawi, Jammu. Date/Time: 24th August 2025, 10.00 Hrs, flood data: high flood.鈥

India suspended the IWT in April after blaming Pakistan for an attack in Indian-administered Kashmir that killed 26 people, mostly tourists. Pakistan denied involvement and demanded an international probe.

Under the treaty, signed in 1960, Pakistan has rights to the western rivers 鈥 Indus, Jhelum, and Chenab 鈥 while India controls the eastern rivers 鈥 Ravi, Beas, and Sutlej 鈥 but can use the western rivers for limited purposes provided it does not significantly alter their flow.

Pakistan had reacted strongly to India鈥檚 suspension of the IWT, warning that any attempt to stop or divert its guaranteed share of waters would be considered 鈥渁n act of war.鈥

The latest exchange comes as Pakistan reels from deadly monsoon rains, with nearly 800 people killed since June 26 due to heavy showers and subsequent flash floods and landslides.


海角直播鈥檚 Flyadeal launches flight operations to Pakistan鈥檚 Peshawar, Islamabad

海角直播鈥檚 Flyadeal launches flight operations to Pakistan鈥檚 Peshawar, Islamabad
Updated 42 min 37 sec ago

海角直播鈥檚 Flyadeal launches flight operations to Pakistan鈥檚 Peshawar, Islamabad

海角直播鈥檚 Flyadeal launches flight operations to Pakistan鈥檚 Peshawar, Islamabad
  • Flyadeal to operate two weekly flights from Riyadh to Peshawar every Monday and Wednesday, says civil aviation authority聽
  • Says services to Peshawar and Islamabad will strengthen connectivity, facilitate passenger convenience and boost bilateral ties

KARACHI: 海角直播鈥檚 low-cost airline Flyadeal has expanded its operations in Pakistan with inaugural flights to Peshawar and Islamabad cities recently, the Pakistan Civil Aviation Authority (PCAA) said in a statement on Monday. 

Jeddah-based Flyadeal, a sister company of Saudia Airlines, launched operations in Pakistan with an inaugural flight to the southern port city of Karachi on Feb. 1. On Sunday, the airline鈥檚 inaugural flight to Pakistan鈥檚 capital arrived at the Islamabad International Airport from Riyadh with 65 passengers on board, while the return flight left with 172 passengers. 

On Monday, the airline expanded its operations in the country further by operating its first flight to Peshawar. The flight arrived in the northwestern city鈥檚 Bacha Khan International Airport from Riyadh. 

鈥淔lyadeal will now operate two weekly flights from Riyadh to Peshawar every Monday and Wednesday,鈥 the PCAA said. 

Meanwhile, the airline will operate a weekly flight to Islamabad on Sundays, the statement added. 

鈥淭he Pakistan Airports Authority (PAA) welcomed Flyadeal鈥檚 entry into Pakistan鈥檚 aviation market, noting that the new services to Peshawar and Islamabad will strengthen connectivity, facilitate passenger convenience, and further boost ties between Pakistan and 海角直播,鈥 the PCAA said. 

Flyadeal鈥檚 move to expand operations to Pakistan comes as 海角直播 seeks to boost its tourism sector under the Vision 2030 program, which aims to attract over 150 million domestic and international tourists annually to the Kingdom by the end of the decade.

Every year, thousands of Pakistanis travel to the Kingdom and back for tourism and religious reasons. 海角直播 is home to over 2.5 million Pakistani expatriates who live and work in the Kingdom.


Pakistan dispatches 21st consignment of relief items for Gaza

Pakistan dispatches 21st consignment of relief items for Gaza
Updated 25 min 53 sec ago

Pakistan dispatches 21st consignment of relief items for Gaza

Pakistan dispatches 21st consignment of relief items for Gaza
  • Latest relief consignment comprises 100 tons of ration bags, cooked meals and fruit tin packs
  • Israel鈥檚 military operations in Gaza have killed over 62,000 Palestinians since October 7, 2023

ISLAMABAD: Pakistan鈥檚 government dispatched its 21st consignment of relief items from the eastern city of Lahore on Monday, the National Disaster Management Authority (NDMA) said in a statement, reaffirming solidarity with the people of Palestine amid Israel鈥檚 military operations. 

The 21st consignment, consisting of 100 tons of relief goods, was sent via a special flight from Lahore鈥檚 Allama Iqbal International Airport, the NDMA said. It added that the consignment comprises 100 tons of ration bags, cooked meals and fruit tin packs.

鈥淪o far, a total of 2,027 tons of aid has been sent through 21 consignments,鈥 the NDMA said. 

Federal Minister for Overseas Pakistanis Chaudhry Salik Hussain, officials and senior NDMA members attended the aid dispatch ceremony at the airport. The minister appreciated the efforts of the NDMA and other welfare organizations for ensuring the timely dispatch of the aid.

鈥淗e reaffirmed that Pakistan stands with the people of Palestine in this difficult time and will continue to make every possible effort to meet their needs,鈥 the NDMA said. 

Pakistan鈥檚 19th consignment of relief items for the people of Gaza arrived at Egypt鈥檚 EL Arish International Airport on Sunday. Pakistan has been repeatedly dispatching humanitarian relief items to Gaza, which has been reeling from food shortages and starvation, according to the global hunger monitor Integrated Food Security Phase Classification (IPC). 

Last Friday, the IPC warned that northern Gaza is suffering from famine, adding that it is projected to spread to central and southern areas of the territory by the end of September.

Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state based on 鈥渋nternationally agreed parameters鈥 and the pre-1967 borders with Al-Quds Al-Sharif as its capital.

Since the beginning of Israel鈥檚 war on Gaza in October 2023, Pakistan has repeatedly raised the issue of Palestinian civilian deaths in Gaza at the United Nations, the Organization of Islamic Cooperation (OIC) and other multilateral platforms and demanded international powers and bodies stop Israeli military actions in Gaza. Israel鈥檚 military offensives have killed more than 62,000 Palestinians in Gaza, most of them civilians, since October 2023, as per figures from the health ministry in Gaza.

Islamabad also called on the international community to force Israel to allow uninterrupted access to humanitarian supplies for the people of Gaza. 


Militants attack security camp in northwest Pakistan, killing 3 officers, wounding 17

Militants attack security camp in northwest Pakistan, killing 3 officers, wounding 17
Updated 25 August 2025

Militants attack security camp in northwest Pakistan, killing 3 officers, wounding 17

Militants attack security camp in northwest Pakistan, killing 3 officers, wounding 17
  • Seventeen security personnel wounded in assault in northwestern Hangu district, police say聽
  • Latest attack comes weeks after military launched operation in northwestern Bajaur district

PESHAWAR, Pakistan: Militants attacked a security forces camp in northwestern Pakistan on Monday, sparking an hours-long gunbattle that left at least three officers and one assailant dead, police said.

Seventeen security personnel were wounded in the assault in Hangu, a district in Khyber Pakhtunkhwa province, according to local police official Nazar Mohammad. He said security forces quickly responded and launched a search operation in the nearby mountains to track down the attackers who fled.

Interior Minister Mohsin Naqvi paid tribute to the slain officers in a statement and directed authorities to provide the best possible medical treatment to the wounded.

No group immediately claimed responsibility, but the Pakistani Taliban, known as Tehreek-e-Taliban Pakistan or TTP, have claimed responsibility for similar attacks in the past.

Pakistan has witnessed a surge in such attacks in recent months.

The latest attack in Hangu comes weeks after Pakistan鈥檚 military launched a 鈥渢argeted operation鈥 against TTP in another northwestern district, Bajaur displacing nearly 100,000 residents. So far, authorities have not released any details about the ongoing operation. Pakistan carried out an operation in Bajaur against TTP in 2009 as well.