海角直播

Pakistan invites investments from 海角直播, China, US in $6 trillion minerals sector

Pakistan invites investments from 海角直播, China, US in $6 trillion minerals sector
Prime Minister Shehbaz Sharif is addressing Pakistan Minerals Investment Forum in Islamabad, Pakistan, on April 8, 2025. (PTV News/Screengrab)
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Updated 08 April 2025

Pakistan invites investments from 海角直播, China, US in $6 trillion minerals sector

Pakistan invites investments from 海角直播, China, US in $6 trillion minerals sector
  • Government officials, heads of private companies from various countries attend two-day mineral summit in Pakistani capital
  • PM says Pakistan won鈥檛 allow raw materials to be shipped out, invites investors to install industries to export finished products

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday invited 海角直播, China, the EU, United States and other countries to invest in Pakistan鈥檚 vast mineral sector, as the country seeks international financing for its natural reserves estimated to be worth $6 trillion.聽

Pakistan鈥檚 mineral sector, despite rich reserves including salt, copper, gold, and coal, contributes only 3.2 percent to the GDP and 0.1 percent to global mineral exports. Pakistan is hoping to tap the sector鈥檚 underutilized potential and is currently hosting the second annual Pakistan Minerals Investment Forum, with government officials and heads of private sector companies from 海角直播, China, the US and a host of other nations in attendance.聽

Pakistan is home to one of the world鈥檚 largest porphyry copper-gold mineral zones, while the Reko Diq mine in southwestern Balochistan has an estimated 5.9 billion tons of ore. Barrick Gold, which owns a 50 percent stake in the Reko Diq mines, considers them one of the world鈥檚 largest underdeveloped copper-gold areas, and their development is expected to have a significant impact on Pakistan鈥檚 struggling economy.聽

鈥淗ere we have our brothers from 海角直播, from Qatar, from UAE and other countries, and of course, ambassadors from Europe and North America and Far East, China,鈥 Sharif said in his address at the mineral summit.

鈥淚 think this is an opportunity which we must convert into reality, not through borrowing more loans, but coming up with feasibilities and solid evidence of partnership which will result into a win-win partnership.

鈥淭oday there is a dearth of rare earth material around the globe and I would like to invite, on my behalf, on behalf of my government and provincial governments, all potential investors in Pakistan and abroad 鈥 We can certainly convert this into an opportunity like never before.鈥

During a panel discussion at the forum, Abdulrahman AlBelushi, 海角直播鈥檚 deputy minister for mineral resources management, said the Kingdom wanted to achieve 鈥渘ew heights and new opportunities鈥 in the minerals sector in partnership with Pakistan.

鈥淎 lot of expertise is shared and aligned between these two nations,鈥 AlBelushi said.

鈥淸Attending the summit] we have the CEO of the Saudi Geological Survey, the CEO of the National Mineral Program, we have representatives from the Ministry of Investment, representatives from the Saudi Fund for Development and the EXIM Bank of 海角直播.鈥

Pakistan is also expected to unveil a new National Minerals Harmonization Framework 2025 at the minerals summit, with the PM highlighting future policy changes, including that the country would not allow raw materials to be shipped but investors would need to install industries in the country to export finished products.

鈥淔rom today onwards, it has to be a very integrated policy where you mine raw materials, have a downstream industry, convert them into finished and semi-finished goods, and then export them out,鈥 Sharif said.聽

The prime minister said Pakistan鈥檚 deposits of natural resources were worth trillions of dollars, which it needed to 鈥渉arvest鈥 to escape a prolonged economic crisis, which has pushed it to engage in 25 IMF bailout programs since joining the fund, with the most recent being a $7 billion loan approved in September 2024.


Pakistan monsoon death toll hits 242, with at least 116 children among the dead

Pakistan monsoon death toll hits 242, with at least 116 children among the dead
Updated 7 sec ago

Pakistan monsoon death toll hits 242, with at least 116 children among the dead

Pakistan monsoon death toll hits 242, with at least 116 children among the dead
  • Disaster agency warns of glacier lake floods and landslides in northern Pakistan amid continued heavy rainfall
  • Urban flooding, house collapses and flash floods reported nationwide as rains forecast to persist through July 25

ISLAMABAD: Pakistan鈥檚 meteorological department on Tuesday warned of glacier lake outburst floods (GLOFs), flash floods and landslides in the country鈥檚 mountainous northern regions, as the national death toll from monsoon-related incidents climbed to 242, including at least 116 children.

The warning comes amid ongoing heavy monsoon rains that have battered the country since late June, triggering urban flooding, house collapses and deadly flash floods.

At least 21 people, including 12 children, died in the past 24 hours alone, according to Pakistan鈥檚 National Disaster Management Authority (NDMA), with many of the fatalities reported from drowning, building collapses and fast-moving floodwaters.

The worst-hit province has been Punjab, Pakistan鈥檚 most populous region, where at least 135 people have died. Khyber Pakhtunkhwa (KP) reported 56 fatalities, followed by 24 in Sindh, 16 in Balochistan, six in the federal capital of Islamabad, three in Gilgit-Baltistan (GB) and two in Azad Jammu and Kashmir.

鈥淚n continuation to the GLOF alert issued dated July 15, the wet spell is likely to continue and can affect KP and GB in the current week,鈥 the Pakistan Meteorological Department (PMD) said in a public statement.

鈥淭he prevailing weather conditions increase the risk of GLOFs, flashfloods, and landslide events in vulnerable glaciated regions of GB and KP.鈥

Glacier lake outburst floods, sudden discharges of water from glacial lakes, are a growing threat in Pakistan鈥檚 north due to accelerated glacial melting driven by climate change. These floods can inundate entire valleys in minutes, destroying roads, homes and livelihoods.

The PMD also warned of landslides and mudslides in areas such as Murree, Galliyat, Azad Kashmir, and Gilgit-Baltistan, cautioning that roads could be blocked and essential connectivity disrupted.

Heavy rains are forecast to continue until July 25.

CLIMATE CHANGE EFFECTS

On Tuesday, urban flooding also hit the capital Islamabad, with viral videos showing cars swept away by torrents of water in Saidpur Village and the upscale Defense Housing Authority (DHA) neighborhood.

One video widely circulated on social media showed a vehicle submerged in floodwater, with a man inside calling for help.

Prime Minister Shehbaz Sharif expressed sorrow over reports of a father and daughter believed to have drowned in the DHA flooding and directed authorities to expedite rescue operations across flood-affected areas.

The monsoon season typically brings 70 to 80 percent of South Asia鈥檚 annual rainfall, arriving in June in India and slightly later in Pakistan. While vital for agriculture, the rains also wreak havoc in countries with fragile infrastructure, poor drainage and high vulnerability to climate shocks.

Pakistan, home to more than 7,000 glaciers, is consistently ranked among the countries most at risk from climate change, despite contributing less than 1 percent to global greenhouse gas emissions. It has seen increasingly erratic weather patterns in recent years, including record-breaking heatwaves, droughts, and severe storms.

In May, at least 32 people were killed in separate incidents of torrential rainfall and hailstorms across the country.

In 2022, catastrophic floods caused by a combination of unprecedented monsoon rains and glacial melt submerged nearly a third of Pakistan, killing more than 1,700 people and displacing over 8 million.

That disaster inflicted an estimated $30 billion in economic losses and prompted repeated UN calls for global climate reparations.


Bangladesh take second T20I for first series win over Pakistan

Bangladesh take second T20I for first series win over Pakistan
Updated 40 min 42 sec ago

Bangladesh take second T20I for first series win over Pakistan

Bangladesh take second T20I for first series win over Pakistan
  • Left-arm Bangladesh pacer Shoriful Islam picks up his best T20I bowling figures of 3-17
  • Pakistan lost five wickets for 15 runs and was bowled out for 125 while chasing target of 134

DHAKA: Bangladesh survived a late onslaught by Faheem Ashraf and Ahmed Daniyal to pull off a narrow eight-run victory in the second T20I match on Tuesday, winning a first-ever series in the format against Pakistan.

Ashraf hit an aggressive 32-ball 51 while debutant Daniyal smashed an 11-ball 17 but holed out off the second ball of the final over as Pakistan were all out for 125 in their chase of 134 to win in Dhaka.

Earlier, Jaker Ali struck a 48-ball 55 as Bangladesh 鈥 sent in to bat 鈥 were bowled out for 133 in 20 overs, with Salman Mirza taking 2-17 and Daniyal close behind on 2-23.

Left-arm Bangladesh pacer Shoriful Islam picked up his best T20I figures of 3-17 on a slow-paced Mirpur pitch as Pakistan lost their first five wickets for just 15 runs by the fifth over.

Ashraf cracked four sixes and as many boundaries to raise hopes of a comeback win, but spinner Rishad Hossain bowled him in the penultimate over.

Ashraf and Abbas Afridi, who scored a 13-ball 19, had revived the innings from 47-7 with a 41-run stand, but Bangladesh had the last laugh.

Bangladesh won the first match at the same venue by seven wickets and took an unassailable 2-0 lead with the final match on Thursday, also in Dhaka.

This was Bangladesh鈥檚 first T20I series win over Pakistan in four tries.

Pakistan lost opener Saim Ayub to a run out for one in the first over before Islam dismissed Fakhar Zaman (8) and Mohammad Haris (0) to hit Pakistan hard at the top.

Bangladesh skipper Litton Das praised a team effort.

鈥淚t鈥檚 wonderful to win back-to-back series,鈥 said Litton, who also led the team to a 2-1 T20I series in Sri Lanka last week. 鈥淭his shows good improvement in our standards.鈥

Pakistan captain Salman Agha rued his side鈥檚 batting lapses.

鈥淲e thought 134 would be gettable but we lost too many wickets early on and that鈥檚 something we must address quickly,鈥 said Agha.

Earlier, Jaker smashed five sixes and a boundary for his third T20I half century.

Bangladesh had lost four wickets for 28 by the sixth over before Jaker and Mahedi Hasan revived the innings with a 53-run stand for the fifth wicket.

Mahedi scored a 25-ball 33 with two sixes and as many boundaries.


UN backs peaceful dispute resolution as Pakistan slams India over water treaty suspension聽

UN backs peaceful dispute resolution as Pakistan slams India over water treaty suspension聽
Updated 22 July 2025

UN backs peaceful dispute resolution as Pakistan slams India over water treaty suspension聽

UN backs peaceful dispute resolution as Pakistan slams India over water treaty suspension聽
  • Pakistan鈥檚 deputy PM criticizes India for 鈥渋llegally鈥 suspending 65-year-old water-sharing treaty
  • UN Security Council unanimously adopts resolution on mechanisms to resolve global conflicts

ISLAMABAD: The United Nations Security Council on Tuesday unanimously adopted a resolution calling on member states to use peaceful means, including negotiation, mediation and judicial settlement, to resolve disputes, as Pakistan accused India of undermining a landmark water-sharing agreement.

Signed in 1960 with World Bank mediation, the Indus Waters Treaty governs the distribution of the Indus River and its tributaries between India and Pakistan, two nuclear-armed neighbors with a history of conflict. Despite strained bilateral relations over the decades, the treaty has been regarded as one of the most resilient diplomatic frameworks in South Asia.

Speaking at the UNSC鈥檚 open debate, Pakistan鈥檚 Deputy Prime Minister and Foreign Minister Ishaq Dar said the 65-year-old Indus Waters Treaty remained a 鈥渘oteworthy example of dialog and diplomacy working for peacefully arriving at a water-sharing arrangement between two neighbors.鈥

鈥淭he treaty has withstood periods of trials and tribulations in bilateral relations,鈥 Dar said.

鈥淚t is most unfortunate and regrettable that India has chosen to illegally and unilaterally hold this treaty in abeyance on baseless grounds with the intention of withholding the flow of water to 240 million people of Pakistan, who rely on it for their livelihood and survival.鈥

Dar鈥檚 remarks came as the Security Council adopted a resolution reaffirming the importance of peaceful dispute resolution mechanisms, with all 15 of the Council鈥檚 members voting in favor.

The resolution encourages states to make full use of existing mechanisms such as 鈥渘egotiation, mediation, arbitration, judicial settlement or other peaceful means,鈥 in accordance with the UN Charter.

India decided to hold the IWT treaty 鈥渋n abeyance鈥 after a militant attack in Indian-administered Kashmir killed 26 people in April. New Delhi blamed Pakistan for being behind the attack and announced a slew of punitive measures, including suspending the water sharing pact. 

Pakistan denies involvement in the assault and has called for an independent international investigation.

The IWT ensures water supply for 80 percent of Pakistani farms. Pakistan has previously warned that the treaty contains no provision for unilateral withdrawal and any attempt to block or stop river water flowing into the country would be considered 鈥渁n act of war.鈥

In May, weeks after the April attack, the most intense India鈥揚akistan military confrontation in decades ensued, involving a series of drone, artillery and missile strikes before a ceasefire was brokered by the US on May 10.


Pakistan grants first digital-only license to non-life insurer in regulatory first

Pakistan grants first digital-only license to non-life insurer in regulatory first
Updated 22 July 2025

Pakistan grants first digital-only license to non-life insurer in regulatory first

Pakistan grants first digital-only license to non-life insurer in regulatory first
  • The license will enable Digi Insurance to sell general products like motor, health and travel coverage
  • The approval marks a milestone for an insurance industry aiming to expand inclusion, accessibility

KARACHI: Pakistan鈥檚 top financial regulator has issued the country鈥檚 first-ever digital-only license to a non-life insurer, allowing Karachi-based Digi Insurance Limited to operate entirely without a physical branch network, the Securities and Exchange Commission of Pakistan (SECP) said on Tuesday.

The license enables Digi Insurance to sell general insurance products 鈥 such as motor, health and travel coverage 鈥 through a fully digital platform, with no in-person interaction or branch infrastructure required.

The approval marks a regulatory milestone for Pakistan鈥檚 insurance industry as it seeks to modernize and improve accessibility.

鈥淭his development reflects SECP鈥檚 broader objective of enabling financial inclusion through responsible innovation and encouraging customer-centric, tech-enabled insurance solutions,鈥 the commission said in a statement.

The SECP said the approval was granted under a revised regulatory framework aimed at supporting new business models and encouraging the use of technology in insurance distribution, policy issuance and claims processing.

The Pakistani financial regulator said it expects the move to promote competition, expand access to underserved markets and encourage further innovation across the sector.

It also maintained digital models offer a scalable, cost-effective alternative that could help close Pakistan鈥檚 insurance gap.
 


Pak-Qatar Asset Management reports 117% growth in assets for FY2025

Pak-Qatar Asset Management reports 117% growth in assets for FY2025
Updated 22 July 2025

Pak-Qatar Asset Management reports 117% growth in assets for FY2025

Pak-Qatar Asset Management reports 117% growth in assets for FY2025
  • Company says asset growth driven by investor trust, demand for Shariah products
  • It plans to expand its offerings, strengthen position in local Islamic finance market

KARACHI: Pak-Qatar Asset Management Company (PQAMC) said on Tuesday its assets under management (AUM) rose by 117% in the financial year ending June 30, citing growing demand for Shariah-compliant investment products in Pakistan.

The company is part of the Pak-Qatar Group, a joint venture backed by Qatari and Pakistani investors focused on the development and promotion of Islamic finance. It said the surge in AUM, which refers to the total market value of client investments it oversees, was driven by consistent fund performance, increasing investor confidence and a broader client base across both retail and institutional segments.

The growth reinforces the company鈥檚 position among the fastest-expanding Islamic asset managers in the country.

鈥淲e are humbled by the trust placed in us by our investors, which has enabled us to achieve this tremendous growth,鈥 its chief executive officer, Farhan Shaukat, said in a statement. 鈥淭his success is a testament to our unwavering focus on delivering sustainable and Shariah-compliant investment avenues that meet the evolving financial aspirations of our clients.鈥

Following its recent performance, the company said it aims to further strengthen its position by offering innovative Islamic investment solutions tailored to a range of financial goals. It maintained its strategy remains anchored in ethical wealth creation, sound governance and disciplined portfolio management in accordance with Islamic principles.

The company has expanded its reach in recent years by diversifying its product offerings and investing in client education around Islamic financial planning. It now manages a growing suite of funds catering to both conservative and growth-oriented investors seeking faith-based alternatives in a volatile economic environment.

The company鈥檚 performance comes amid increasing interest in Islamic finance across Pakistan鈥檚 investment landscape, with regulatory support and shifting investor preferences driving demand for Shariah-aligned mutual funds and retirement products.

The company said it would continue to build on its momentum by enhancing digital accessibility, improving client engagement and launching new funds in response to market trends and participant needs.