海角直播

Pakistan envoy identifies textiles, agriculture as key sectors to focus in exports to 海角直播

Pakistan envoy identifies textiles, agriculture as key sectors to focus in exports to 海角直播
Pakistan Ambassador to 海角直播 Ahmad Farooq holds a meeting with IT companies in Islamabad, Pakistan, on January 29, 2025. (Pakistan Embassy in 海角直播)
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Updated 31 January 2025

Pakistan envoy identifies textiles, agriculture as key sectors to focus in exports to 海角直播

Pakistan envoy identifies textiles, agriculture as key sectors to focus in exports to 海角直播
  • Pakistan and 海角直播 are close regional partners, and the Kingdom remains the largest source of remittances to the South Asian country
  • Ambassador Ahmad Farooq stresses need to improve vocational training of Pakistani workers to meet standards required for mega Saudi projects

KARACHI: Pakistan Ambassador to 海角直播 Ahmad Farooq on Wednesday identified textiles, agriculture and red meat as key sectors for Pakistani businesses to focus on in order to increase the country鈥檚 exports to the Kingdom.

Farooq identified the key sectors during his visit to the Karachi Chambers of Commerce and Industry (KCCI) on Wednesday, where he met with leading Pakistani businesspersons and industrialists, according to the KCCI.

The ambassador highlighted that Pakistan鈥檚 exports to the Kingdom had registered a 40 percent increase during 2023-24, with the information technology (IT) sector witnessing an impressive 50 percent growth.

Pakistan and 海角直播 last year signed 34 agreements worth nearly $3 billion, of which, memorandums of understanding (MoUs) worth $700 million have already entered the implementation stage, according to Farooq.

鈥淲e want large businesses to connect with local distributors in 海角直播 to facilitate exports,鈥 he was quoted as saying by the KCCI. 鈥淎 list of key exporters in these sectors should be shared with the [Pakistani] embassy so we can work together to strengthen trade relations.鈥

Farooq said Pakistani textile, agriculture and meat (beef and mutton) products had already seen a 鈥渞emarkable growth鈥 in the Saudi market, adding that the Kingdom offers vast opportunities for Pakistani businesses.

鈥淭he purpose of my visit is to discuss business opportunities with the Karachi business community and update them on how Pakistan鈥檚 embassy can support them in accessing the Saudi market,鈥 he added.

Speaking about the rising demand for skilled manpower, the Pakistani envoy said more than 3 million Pakistanis were currently living in the Kingdom, however, 97 percent of them were 鈥渂lue-collar workers.鈥

海角直播 is currently developing its public service sectors such as health, education, infrastructure, recreation and tourism as part of a strategic framework, Vision 2030, which aims to diversify the Kingdom鈥檚 economy beyond oil. The

Kingdom鈥檚 ambitious plan coincides with Pakistan鈥檚 efforts to boost trade and foreign investment to revive its fragile economy.

鈥淪audi authorities have advised us to improve vocational training for Pakistani workers to meet the standards required for upcoming projects,鈥 Ambassador Farooq said, stressing the need to enhance training programs to equip these workers with modern technical skills.

Pakistan and 海角直播 are close regional partners, and the Kingdom remains the largest source of remittances to the South Asian country, contributing $7.5 billion in the last fiscal year (July 2023-June 2024), according to KCCI President Jawed Bilwani.

海角直播 has also regularly provided Pakistan oil on deferred payments and offered direct financial support to help shore up Pakistan鈥檚 forex reserves.

KCCI Senior Vice President Zia-ul-Arfeen stressed the need to enhance joint ventures between the two countries, urging Islamabad to further improve the ease of doing business for foreign investors.

鈥淪audi investors should consider Pakistan for investments, particularly in the food sector,鈥 he added.


Pakistan unveils new EV policy with over $353 million in subsidies for electric bikes, rickshaws

Pakistan unveils new EV policy with over $353 million in subsidies for electric bikes, rickshaws
Updated 11 sec ago

Pakistan unveils new EV policy with over $353 million in subsidies for electric bikes, rickshaws

Pakistan unveils new EV policy with over $353 million in subsidies for electric bikes, rickshaws
  • The new policy for 2025-30 aims to cut $1 billion in fuel costs and 4.5 million tons of emissions
  • Pakistan currently has about 70,000 electric motorcycles, 5,200 electric cars and 450 electric buses

ISLAMABAD: The government on Thursday unveiled Pakistan鈥檚 new Electric Vehicle (EV) Policy 2025-30, announcing a five-year subsidy of over Rs100 billion ($353 million) for electric bikes and rickshaws.

The move comes amid a steady rise in electric vehicle adoption in a market traditionally dominated by Japanese automakers. Pakistan鈥檚 urban areas exhibit some of the world鈥檚 highest levels of air pollution, with road transport being a major contributor.

Chinese and Korean EV brands are increasingly entering the local market, making these vehicles a more frequent sight in cities such as Islamabad, Lahore and Karachi.

鈥淭otal subsidy over five years will be over Rs100 billion and it will basically be focused on the two-and-three wheelers,鈥 Haroon Akhtar Khan, a close aide to Prime Minister Shehbaz Sharif, told a news conference. 鈥淲e will have subsidized financing for 116,053 electric bikes, 3,171 rickshaws.鈥

鈥淎 Rs9 billion [$31 million] subsidy will be allocated, and it is already there in the 2025-26 budget,鈥 he continued.

Khan added the government also allocated a 25 percent quota for women to increase their mobility.

He projected the initiative will help with the annual savings of Rs283 billion ($1 billion) in fuel costs and a reduction of 4.5 million tons of carbon emissions.

Khan said Pakistan鈥檚 new EV policy was aimed at disincentivizing internal combustion engine vehicles and promoting electric mobility to help cut greenhouse gas emissions that damage the earth鈥檚 ozone layer.

He informed Pakistan has around 70,000 electric motorcycles, 5,200 electric cars and 450 electric buses, adding the government issued 61 manufacturing licenses for electric two- and three-wheelers including motorcycles and rickshaws.

Khan also acknowledged the country lacks adequate EV charging infrastructure and faces challenges related to the absence of safety and quality standards.

He said the government aims for 30 percent of all new vehicles produced over the next five years to be electric.

鈥淪o, we are establishing new electric vehicle testing rules, safety and emission standards,鈥 he said.

鈥淲e have to make sure that if anybody is manufacturing an electric vehicle there are no emissions,鈥 he continued. 鈥淎nother thing is battery disposal. We don鈥檛 want to create any environmental problem that the battery is not disposed properly.鈥

The country previously approved an ambitious National Electric Vehicles Policy (NEVP) in 2019, aiming for electric vehicles to make up 30 percent of all passenger car and heavy-duty truck sales by 2030.

The policy set an even more ambitious target of making 90 percent of all vehicle sales electric by 2040.


Pakistan hosts Bangladeshi academic delegation under OIC鈥檚 scientific cooperation framework

Pakistan hosts Bangladeshi academic delegation under OIC鈥檚 scientific cooperation framework
Updated 19 June 2025

Pakistan hosts Bangladeshi academic delegation under OIC鈥檚 scientific cooperation framework

Pakistan hosts Bangladeshi academic delegation under OIC鈥檚 scientific cooperation framework
  • Vice chancellors of Bangladesh universities met counterparts from top 15 Pakistani universities
  • Once a single country, Pakistan and Bangladesh have begun slowly rebuilding diplomatic ties

ISLAMABAD: A seven-member delegation from Bangladeshi universities is currently visiting Pakistan to deepen academic and scientific cooperation between the two countries, the Organization of Islamic Cooperation鈥檚 coordinating body for scientific collaboration said on Thursday.

Pakistan and Bangladesh, once a single country before the bloody 1971 war, have slowly begun rebuilding ties after last year鈥檚 political upheaval in Dhaka, which saw the ouster of Prime Minister Sheikh Hasina Wajid, long viewed as critical of Islamabad and aligned with New Delhi.

She fled to India by helicopter after her administration鈥檚 downfall in August 2024, with Dhaka now seeking her extradition.

The ties between India and Bangladesh鈥檚 interim government have become frosty, creating space for Islamabad and Dhaka to re-engage after decades of limited contact.

鈥淭he forum brought together a seven-member Bangladeshi delegation comprising vice chancellors and senior representatives from leading universities, and vice chancellors from 15 top Pakistani universities, which are part of COMSTECH Consortium of Excellence,鈥 the OIC-COMSTECH said in a statement, adding that academics from Bangladesh are visiting Pakistan from June 16-21.

The visiting delegation termed their ongoing visit as 鈥渉istorical, highly productive and promising鈥 for academic collaboration between Bangladesh and Pakistan.

Vice chancellors from Pakistani and Bangladeshi universities held discussions aimed at deepening academic and scientific cooperation, it added.

The meetings focused on expanding collaboration in key areas including student and faculty exchange programs, scholarship opportunities, joint research initiatives apart from sharing academic expertise.

The participants of the meeting also agreed that each university would appoint a focal person to ensure effective follow-up on commitments made during the visit.

Bangladesh High Commissioner to Pakistan Iqbal Hussain Khan, the chief guest at the event, praised COMSTECH for offering scholarships, organizing the visit and facilitating meaningful academic exchanges between higher education institutions of the two countries.

In May, Pakistan鈥檚 Foreign Minister Ishaq Dar agreed to strengthen bilateral relationship with Bangladesh and maintain high-level contacts with its leadership.

Pakistan鈥檚 government launched a new program in December 2024 through which it will provide fully funded scholarships to 300 Bangladeshi students.

Prime Minister Shehbaz Sharif met Bangladesh Chief Adviser Dr. Muhammad Yunus in New York last year at a ceremony hosted by the Bangladeshi leader to mark the completion of 50 years of Bangladesh鈥檚 membership in the United Nations.

Both sides had agreed to forge stronger ties and enhance bilateral cooperation in various fields during their meeting.


Five groups submit qualification documents in Pakistan鈥檚 renewed push to privatize PIA

Five groups submit qualification documents in Pakistan鈥檚 renewed push to privatize PIA
Updated 19 June 2025

Five groups submit qualification documents in Pakistan鈥檚 renewed push to privatize PIA

Five groups submit qualification documents in Pakistan鈥檚 renewed push to privatize PIA
  • Eight interested parties, including private firms and a military-backed group, initially submitted expressions of interest
  • Pakistan鈥檚 Privatization Commission will evaluate the qualification documents before advancing to the next stage

KARACHI: Pakistan has received qualification documents from five investor groups seeking to acquire a controlling stake in its loss-making national carrier, the Privatization Commission said on Thursday, as the government advances a long-delayed divestment plan.

The privatization of state-owned entities has been mandated by the International Monetary Fund (IMF) as Pakistan works to implement structural reforms and stabilize its economy, which has recently shown signs of macroeconomic improvement.

Pakistan International Airlines (PIA), in particular, has survived for years on government bailouts, placing further strain on the country鈥檚 already cash-strapped finances.

The government invited expressions of interest in April for a stake ranging from 51 percent to 100 percent in Pakistan International Airlines Corporation Limited (PIACL), along with management control. The final deadline for submitting Statements of Qualification (SOQs) was today.

鈥淭he Privatization Commission received Expression of Interest (EOI) from ... eight interested parties,鈥 the official statement said, adding that 鈥渇ive interested parties submitted SOQs by the deadline today.鈥

Among the groups that submitted documents are a consortium comprising Lucky Cement, Hub Power Holdings, Kohat Cement, and Metro Ventures; a consortium led by Arif Habib Corporation with Fatima Fertilizer, City Schools and Lake City Holdings; Air Blue Limited; Fauji Fertilizer Company Limited, which is a military-backed firm; and a consortium including Serene Air, Augment Securities, Bahria Foundation, Mega C&S Holding and Equitas.

The government had previously attempted to privatize PIA in 2024 but called off the process after receiving a single bid of Rs10 billion ($36 million) from Blue World City 鈥 far below the Rs85 billion ($305 million) floor price.

The sale was scrapped, citing the airline鈥檚 weak financial position and unattractive terms for buyers.

PIA has long been a fiscal liability, with operational earnings repeatedly offset by heavy debt servicing. However, following restructuring, it reported an operating profit of Rs9.3 billion ($33.1 million) in April, its first in 21 years.

鈥淭he SOQs submitted by the parties will be evaluated by the Privatization Commission against the prequalification criteria,鈥 the official statement informed. 鈥淭he prequalified parties will proceed to the next stage where they will be given access to the virtual data room to undertake buy-side due diligence.鈥


Pakistan draws five potential buyers for national air carrier

Pakistan draws five potential buyers for national air carrier
Updated 19 June 2025

Pakistan draws five potential buyers for national air carrier

Pakistan draws five potential buyers for national air carrier
  • The interested parties include business groups and a military-backed firm
  • The sale is seen as a test of Pakistan鈥檚 ability to shed loss-making state firms

ISLAMABAD: In its efforts to sell its struggling national airline, Pakistan has received expressions of interest from five parties, including business groups and a military-backed firm, the Privatization Ministry said on Thursday.
The bids were submitted ahead of a June 19 deadline to acquire up to 100 percent of Pakistan International Airlines, which has accumulated over $2.5 billion in losses in roughly a decade.
Still, following a major restructuring, it posted its first operating profit in 21 years in the year through June 2024.
The sale is seen as a test of Pakistan鈥檚 ability to shed loss-making state firms and meet conditions of a $7 billion International Monetary Fund bailout. It would be the country鈥檚 first major privatization in nearly two decades.
Eight parties submitted their expressions of interest, but only five of them provided documents of qualification, the ministry said in a statement.


Pakistan calls for Israel鈥檚 accountability for Iran war after army chief鈥檚 meeting with US president

Pakistan calls for Israel鈥檚 accountability for Iran war after army chief鈥檚 meeting with US president
Updated 19 June 2025

Pakistan calls for Israel鈥檚 accountability for Iran war after army chief鈥檚 meeting with US president

Pakistan calls for Israel鈥檚 accountability for Iran war after army chief鈥檚 meeting with US president
  • The foreign office condemns Tel Aviv鈥檚 鈥榰njustified and illegitimate aggression鈥 during weekly foreign office briefing
  • It says Islamabad has always advocated for diplomatic solutions, will support meaningful efforts toward de-escalation

ISLAMABAD: Pakistan鈥檚 foreign office on Thursday called on the international community to end Israel鈥檚 ongoing war against Iran, condemning Tel Aviv for launching an 鈥渦njustified and illegitimate鈥 attack and demanding its accountability.

The statement came hours after Pakistan鈥檚 army chief, Field Marshal Syed Asim Munir, attended a luncheon at the White House hosted by US President Donald Trump, a rare engagement that lasted longer than scheduled.

Trump, who has publicly backed Israeli Prime Minister Benjamin Netanyahu and stated Iran will not be allowed to acquire nuclear weapons, confirmed that the Israel-Iran conflict was discussed during his meeting with Munir.

While he did not share further details, Pakistan has maintained its longstanding position that Israel鈥檚 war with Iran threatens to destabilize the region.

鈥淧akistan strongly condemns unjustified and illegitimate aggression by Israel against the Islamic Republic of Iran,鈥 foreign office spokesperson Ambassador Shafqat Ali Khan said at the outset of his weekly press briefing.

鈥淧akistan stands in resolute solidarity with the people of Iran and unequivocally denounces these blatant provocations, which constitute a grave danger and a serious threat to the peace, security, and stability of the entire region and beyond, with serious implications,鈥 he added. 鈥淭he international community and the United Nations bear the responsibility to uphold international law, stop this aggression immediately and hold the aggressor accountable for its actions.鈥

Khan pointed to a joint statement released earlier this week by 20 countries, including Pakistan, calling for an immediate halt to hostilities in the Middle East and urging de-escalation.

The statement underscored the urgent need to establish 鈥渁 Middle East Zone Free of Nuclear Weapons and Other Weapons of Mass Destruction,鈥 applying to all states in the region without exception.

It further called on all Middle Eastern countries to join the Nuclear Non-Proliferation Treaty (NPT).

Asked whether the United States sought any 鈥渟pecial favor鈥 from Pakistan during the army chief鈥檚 meeting with Trump, Khan said both nations share 鈥渟trong and multifaceted relations鈥 with 鈥渁 full agenda of interaction and cooperation.鈥

鈥淪o, I don鈥檛 know how to characterize or define a special favor,鈥 he remarked.

The spokesperson reiterated that Pakistan has consistently advocated for diplomatic solutions to international conflicts and would support any meaningful initiative in that direction.