海角直播

Pakistan PM to visit 海角直播 today to bolster bilateral trade, investment ties

Update Pakistan PM to visit 海角直播 today to bolster bilateral trade, investment ties
Saudi Crown Prince Mohammed bin Salman receives Pakistan Prime Minister Shehbaz Sharif in Riyadh, 海角直播, on October 29, 2024. (Saudi Press Agency/REUTERS/File)
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Updated 05 June 2025

Pakistan PM to visit 海角直播 today to bolster bilateral trade, investment ties

Pakistan PM to visit 海角直播 today to bolster bilateral trade, investment ties
  • Shehbaz Sharif to meet Saudi Crown Prince Mohammed bin Salman during visit to Kingdom, says foreign office
  • Pakistan has tried to strengthen trade ties with 海角直播 recently, signing agreements worth billions of dollars

ISLAMABAD: Prime Minister Shehbaz Sharif will travel to 海角直播 today, Thursday, with a high-level delegation to strengthen trade, investment and bilateral relations with the Kingdom, the foreign office said, and to thank its leadership for de-escalating Pakistan鈥檚 military conflict with India.

Pakistan has tried to strengthen business-to-business (B2B) ties with the Kingdom, with both sides announcing during Sharif鈥檚 visit to Riyadh last October they had signed 34 memorandums of understanding and agreements worth $2.8 billion to enhance private sector collaboration and commercial partnerships.

海角直播 played a prominent role in defusing Pakistan鈥檚 military conflict with India last month. Both countries had fired missiles, carried out drone strikes, used fighter jets and artillery against each other before Washington brokered a ceasefire on May 10.

Pakistan鈥檚 foreign office said Sharif will meet Saudi Crown Prince Mohammed bin Salman during his visit to the Kingdom from June 5-6, which will coincide with the Eid Al-Adha Muslim festival.

鈥淒iscussions will focus on strengthening bilateral cooperation in key areas, including trade and investment, the welfare of the Muslim Ummah, and regional peace and security,鈥 the foreign office said.

鈥淭he Prime Minister will also express gratitude to the Saudi leadership for its constructive role in de-escalating the recent Pakistan-India conflict.鈥

The statement said Sharif鈥檚 visit reflects deep-rooted ties with 海角直播.

鈥淚t reaffirms the leadership鈥檚 commitment to deepening economic and diplomatic engagement, aligning with 海角直播鈥檚 Vision 2030 and Pakistan鈥檚 development priorities,鈥 the foreign office said.

The foreign office said Sharif鈥檚 visit is expected to 鈥渇urther solidify鈥 Pakistan-海角直播 relations and open new avenues for multifaceted collaboration.

Earlier on Wednesday, Deputy PM Ishaq Dar confirmed Sharif would visit the Kingdom to thank its leadership for its support to Pakistan during the India conflict.

鈥淭he prime minister will go tomorrow, and I will also go with him,鈥 Dar told reporters at a news briefing in Islamabad. 鈥淲e will go there to thank them for their solidarity and support.鈥

海角直播 presents a key export opportunity for Pakistani businesses, given its strong consumer demand and ambitious Vision 2030 economic reforms that emphasize diversification and foreign investments.

Pakistan has a 2.7 million-strong diaspora in 海角直播, which accounts for the highest remittance inflow, a crucial lifeline for the country鈥檚 economy.


Pakistan delegation in Washington says India laying foundations of first 鈥榥uclear water war鈥

Pakistan delegation in Washington says India laying foundations of first 鈥榥uclear water war鈥
Updated 05 June 2025

Pakistan delegation in Washington says India laying foundations of first 鈥榥uclear water war鈥

Pakistan delegation in Washington says India laying foundations of first 鈥榥uclear water war鈥
  • Nine-member delegation headed by former foreign minister Bilawal Bhutto-Zardari is visiting world capitals
  • Delegation is presenting Pakistan鈥檚 position following worst military confrontation with India in decades last month

ISLAMABAD: The head of a delegation visiting Washington DC to present Islamabad鈥檚 position following a recent military standoff with New Delhi said on Thursday India shutting down Pakistan鈥檚 water supply would be tantamount to laying the 鈥渇oundations for the first nuclear water war.鈥

Tensions between nuclear-armed neighbors Pakistan and India are high after they struck a ceasefire on May 10 following the most intense military confrontation in decades. Both countries accuse the other of supporting militancy on each other鈥檚 soil 鈥 a charge both capitals deny.

The latest escalation, in which the two countries鈥 militaries traded missile, drones and artillery fire, was sparked after India accused Pakistan of supporting militants who attacked dozens of tourists in Indian-administered Kashmir on April 22, killing 26. Islamabad denies involvement. Following the attack, Delhi unilaterally 鈥減ut in abeyance鈥 the Indus Waters Treaty of 1960, which governs usage of the Indus river system. The accord has not been revived despite the rivals agreeing on a ceasefire on May 10.

鈥淚n the age of climate challenges that are to come, water scarcity and water wars, or anyway, used to be a theory,鈥 Bilawal Bhutto Zardari, a former foreign minister who is heading the Pakistani delegation, said at an event at the Middle East Institute in Washington.

鈥淚ndia鈥檚 shutting off Pakistan鈥檚 water supply is laying the foundations for the first nuclear water war.鈥

Bilawal Bhutto-Zardari, head of Pakistan鈥檚 diplomatic mission, speaks on Pakistan-US relations during a dialogue at the Middle East Institute in Washington, D.C. on June 5, 2025. (Photo courtesy: Bilawal House)

Islamabad had said after India suspended the Indus Waters Treaty that it considered any attempt to stop or divert the flow of water belonging to Pakistan to be an 鈥渁ct of war.鈥

About 80% of Pakistani farms depend on the Indus system, as do nearly all hydropower projects serving the country of some 250 million.

鈥淚t is an existential crisis for us,鈥 Bhutto Zardari said in DC. 鈥淎ny country on the planet, no matter their size, their strength, or their ability, would fight for their survival and fight for their water. India must abide by the Indus Waters Treaty.鈥

He urged Washington and other countries not to allow India to violate the treaty or fulfil its threat of stopping Pakistan鈥檚 rightful share of Indus waters.

鈥淵ou cannot allow this precedent to be set in the Pakistan context, because we鈥檒l fight the first war, but it won鈥檛 be the last,鈥 Bhutto Zardari warned.

鈥淚f India is allowed to cut off our water, that means that every upper riparian with hostilities to a lower riparian now has a carte blanche.鈥

Prime Minister Shehbaz Sharif announced the nine-member diplomatic group last month, headed by Pakistan Peoples Party Chairman Bilawal Bhutto Zardari, who has been leading a team to visits in New York, Washington DC, London and Brussels since June 2. Another delegation, led by Special Assistant to the Prime Minister Syed Tariq Fatemi, has visited Moscow.

Earlier on Thursday, Bhutto Zardari鈥檚 delegation met members of the US Congressional Pakistan Caucus in Washington, including Republican party leaders Jack Bergman and Ryan Zinke and Democratic leaders Tom Suozzi and Ilhan Omar, among others.

鈥淧akistan remains committed to peace, but sadly, India consistently resists dialogue,鈥 Bhutto Zardari told the American lawmakers, according to a statement released by Bilawal House, his official residence.

Pakistan and India, bitter rivals, have fought two out of three wars over the disputed territory of Kashmir that they both claim in full but govern only parts of.


Pakistan commits to provide basic, tactical-level training to Belarusian fighter pilots

Pakistan commits to provide basic, tactical-level training to Belarusian fighter pilots
Updated 05 June 2025

Pakistan commits to provide basic, tactical-level training to Belarusian fighter pilots

Pakistan commits to provide basic, tactical-level training to Belarusian fighter pilots
  • Belarus Air Force delegation meets Pakistan Air Force chief in Islamabad, says Pakistan military
  • Trainings to include high-level exchange programs to foster professional development, it says

ISLAMABAD: Pakistan Air Force Chief Air Marshal Zaheer Ahmed Babar Sidhu on Thursday said the PAF was ready to support the Belarus Air Force (BAF) with basic to tactical level training, the military鈥檚 media wing said, as both sides discussed military and air cooperation.

Sidhu met a high-level defense delegation led by BAF and Air Defense Commander Major General Andrei Yulianovich Lukyanovich, the Pakistani military鈥檚 media wing said.

鈥淒uring the meeting, Chief of the Air Staff [..] assured that PAF is committed to extending full support for the basic to tactical-level training of pilots and maintenance crews for capacity building of BAF,鈥 the Inter-Services Public Relations (ISPR), the military鈥檚 media wing, said in a statement.

鈥淭his includes the initiation of high-level exchange programs aimed at fostering professional development between the two air forces.鈥

Lukyanovich expressed a strong interest in learning from the PAF鈥檚 extensive operational experience in wartime operations and conveyed the BAF鈥檚 eagerness to draw lessons from the PAF鈥檚 combat-tested doctrines and training programs, the ISPR said.

The PAF says it shot down six Indian Air Force jets on the night of May 6 while repelling Indian air attacks. India鈥檚 defense chief recently admitted the country lost fighter jets to Pakistan. However, he denied six jets were shot down.

The meeting takes place a day after Pakistan Prime Minister Shehbaz Sharif met Belarusian Defense Minister Lt. Gen. Victor Khrenin in Islamabad, where the two discussed bilateral defense and technology ties.

Sharif visited Belarus in April during which both countries signed a roadmap for military-technical cooperation from 2025 to 2027, along with multiple agreements in trade, defense and industrial collaboration.


Pakistan accelerates push to operationalize regulatory framework for digital assets

Pakistan accelerates push to operationalize regulatory framework for digital assets
Updated 05 June 2025

Pakistan accelerates push to operationalize regulatory framework for digital assets

Pakistan accelerates push to operationalize regulatory framework for digital assets
  • Finance Minister Muhammad Aurangzeb chairs key meeting on Pakistan鈥檚 digital assets legislation
  • Pakistan state minister for crypto meets US lawmakers to strengthen digital assets cooperation

KARACHI: Pakistan鈥檚 Finance Minister Muhammad Aurangzeb on Thursday stressed operationalizing a framework to harness blockchain and crypto technologies鈥 economic potential and to fast-track their approval process, the Finance Division said amid Islamabad鈥檚 push to adopt digital assets.

Islamabad established the Pakistan Crypto Council (PCC) in March to help guide national policy on blockchain, digital currencies and crypto-related investments. This was followed by the government鈥檚 announcement of a Strategic Bitcoin Reserve (SBR) at the Bitcoin 2025 Conference in Las Vegas, making Pakistan one of the first Asian countries to integrate Bitcoin into its sovereign asset strategy. The government also plans to establish an autonomous regulatory body to oversee the country鈥檚 digital finance and crypto ecosystem.

Aurangzeb chaired a meeting at the Finance Division to review progress on the development of a comprehensive regulatory framework for digital and virtual assets in the country. The law ministry tabled a draft of the proposed legal framework during the meeting, which was developed through close collaboration with members of the PCC, key stakeholders and technical experts.

鈥淒uring the meeting, the draft was thoroughly reviewed and refined,鈥 the Finance Division said. 鈥淚t was collectively agreed that in-principle approval process will be fast-tracked to ensure timely enactment and effective implementation.鈥

The draft legislation outlines a regulatory structure for digital and virtual assets, encompassing governance mechanisms, licensing protocols and investor protection provisions, the statement said. The proposed framework seeks to position Pakistan as a forward-looking participant in the digital asset ecosystem, it added.

鈥楤EST IDEAS鈥

Separately, Pakistan鈥檚 State Minister for Crypto and Blockchain Bilal Bin Saqib met over a dozen key American officials and lawmakers in Washington to strengthen cooperation in digital assets, blockchain regulation, and financial innovation, his office said.

Saqib met Senator Cynthia Lummis, co-author of the Lummis-Gillibrand Responsible Financial Innovation Act and co-sponsor of the BITCOIN Act, which seeks to designate Bitcoin as a strategic reserve asset.

Saqib鈥檚 office said Lummis has been a leading advocate for 鈥渢houghtful and comprehensive鈥 crypto legislation in the US.

He also met Senator Ted Cruz, Congressman Troy Downing, who is a member of the House Financial Services Subcommittee on Digital Assets, Congressman Ryan Zinke, Congressman Rick McCormick, and Congressman Derrick Van Orden.

Saqib鈥檚 office said these lawmakers were engaged in shaping policy frameworks related to emerging technologies in the US.

鈥淲e came to learn, to listen, and to contribute,鈥 Bilal said. 鈥淧akistan is actively studying how global leaders are approaching regulation, innovation, and financial inclusion 鈥 not to copy, but to adapt the best ideas for our own unique landscape.鈥

Pakistan鈥檚 broader digital asset strategy includes allocating 2,000 megawatts of surplus power to support Bitcoin mining and AI-driven data zones, aiming to turn untapped energy into economic productivity, job creation and digital infrastructure growth.

As regulatory frameworks continue to evolve globally, Pakistan says it is taking proactive steps to integrate private sector innovation with state policy and international partnerships, positioning itself as a key player in the next phase of the global digital economy.


In meeting with US lawmakers, Pakistani delegation says Delhi resisting dialogue with Islamabad

In meeting with US lawmakers, Pakistani delegation says Delhi resisting dialogue with Islamabad
Updated 05 June 2025

In meeting with US lawmakers, Pakistani delegation says Delhi resisting dialogue with Islamabad

In meeting with US lawmakers, Pakistani delegation says Delhi resisting dialogue with Islamabad
  • Pakistan鈥檚 PM set up delegation last month, tasking it to present Islamabad鈥檚 perspective on recent India conflict
  • Pakistani delegation criticizes India鈥檚 suspension of water-sharing agreement, says endangers future of entire region

KARACHI: A Pakistani delegation led by former foreign minister Bilawal Bhutto Zardari met a group of American lawmakers on Thursday, telling them that India is consistently resisting dialogue to resolve bilateral issues.

Prime Minister Shehbaz Sharif set up the delegation last month, tasking it to present Pakistan鈥檚 point of view regarding the country鈥檚 conflict with India last month. India and Pakistan last month engaged in four days of fighting, striking each other with missiles, drones, artillery and fighter jets before Washington brokered a ceasefire on May 10.

Bhutto Zardari鈥檚 delegation has held a series of meetings with top international diplomats since arriving in New York on Monday, urging the global community to help India and Pakistan enter a comprehensive dialogue to peacefully resolve their differences.

On Thursday the delegation met members of the US Congressional Pakistan Caucus in Washington. These included Republican party leaders Jack Bergman and Ryan Zinke and Democratic leaders Tom Suozzi and Ilhan Omar, among others.

鈥淧akistan remains committed to peace, but sadly, India consistently resists dialogue,鈥 Bhutto Zardari was quoted as saying by Bilawal House, his official residence.

The former foreign minister criticized India鈥檚 decision to hold in abeyance the Indus Waters Treaty, a decades-old water-sharing agreement with Pakistan.

鈥淚ndia has weaponized water, endangering the future of not only Pakistan but the entire region,鈥 he said.

He warned that if Indian hostility is not curbed in time, it could 鈥渟eriously jeopardize regional peace.鈥 The Pakistani politician reaffirmed his country鈥檚 desire for constructive engagement based on mutual respect and peaceful resolution of disputes, the statement said.

鈥淭he members of Congress welcomed the delegation, listened carefully to Pakistan鈥檚 concerns, and expressed willingness to strengthen bilateral engagement and regional stability,鈥 the statement concluded.

Tensions between the arch-rivals began on April 22 when militants attacked a resort in Indian-administered Kashmir鈥檚 Pahalgam area, killing 26 tourists.

India blamed Pakistan for supporting militants involved in the attack, a charge Pakistan vehemently denied and called for a transparent, international probe into the incident.

Pakistan and India, bitter rivals, have fought two out of three wars over the disputed territory of Kashmir that they both claim in full but govern only parts of.

India accuses Pakistan of supporting militants in the part of Kashmir it administers. Islamabad denies the allegation and says it extends only diplomatic and moral support to the people of Kashmir.


Washington says Pakistan needs to address barriers to American exports, companies

Washington says Pakistan needs to address barriers to American exports, companies
Updated 05 June 2025

Washington says Pakistan needs to address barriers to American exports, companies

Washington says Pakistan needs to address barriers to American exports, companies
  • Islamabad, Washington last week kicked off negotiations after President Trump announced tariffs on countries, including Pakistan
  • Talks expected to 鈥渟ail through鈥 but Pakistan鈥檚 textile industry may take a hit if they fail, warns financial analyst Shankar Talreja

KARACHI: Pakistan鈥檚 government needs to address its tariff and non-tariff barriers against American exports and companies, a spokesperson at the US consulate general in Karachi said on Thursday as both nations seek to forge closer trade ties through negotiations.

Reva Gupta, the spokesperson at the US consulate general in Karachi, made the comments a week after Pakistan and the US started what the official described as 鈥渄ynamic鈥 negotiations with Finance Minister Muhammad Aurangzeb on Washington鈥檚 imposition of tariffs.

The talks take place as US President Donald Trump imposed steep tariffs on a number of countries earlier this year, a move widely viewed as a setback for the global economy still recovering from the coronavirus pandemic. Pakistan faces a potential 29 percent tariff, currently under a 90-day pause announced in April, on its exports to the US due to a $3 billion trade surplus with the world鈥檚 biggest economy.

鈥淚n our bilateral engagements with Pakistan, we always message the need to jointly tackle challenges to our trade relationship, including the need for Pakistan to address its longstanding tariff and non-tariff barriers against US exports and companies,鈥 Gupta told Arab News.

The tariffs could be a setback to Islamabad鈥檚 hectic efforts aimed at navigating a tricky path to economic recovery. Pakistan hopes to achieve sustainable economic growth driven by exports.

The US is Pakistan鈥檚 largest export destination. American exports to Pakistan were valued at $2.1 billion in 2024, up 4.4 percent ($90.9 million) from 2023, according to US government data. The import of goods from Pakistan to the US totaled $5.1 billion in 2024, up 4.9 percent ($238.7 million) from 2023.

鈥淭he United States and Pakistan share a robust economic relationship going back decades, of which trade and investment are key elements,鈥 Gupta said. 鈥淭hat the United States remains Pakistan鈥檚 largest export market globally is a testament to this strong partnership鈥.

Gupta, however, referred to US Trade Representative鈥檚 (USTR) National Trade Estimate Report which highlights significant foreign barriers to US exports in various countries, including Pakistan.

 The USTR details tariff and non-tariff hurdles ranging from Pakistan charging higher tariffs to US businesses to the closure of Internet services, imposing a ban on US beef imports and 鈥減erceived politicization鈥 of the anti-graft National Accountability Bureau body.

鈥淯S companies have cited concerns that Pakistan has been imposing high tariff rates and, in some cases, additional duties, on products such as automobiles and finished goods,鈥 the report said.

Qamar Sarwar Abbasi, a spokesperson of Pakistan鈥檚 finance ministry, did not respond to Arab News鈥 request for comment.

Some prominent American companies operating in Pakistan include Pepsi-Cola, General Electric International, Procter and Gamble, Pfizer and DuPont, according to the International Trade Administration, a US government agency.

Experts have warned the tariffs could harm Pakistan鈥檚 competitiveness in the global market, especially if regional exporters such as China, Bangladesh and Vietnam redirect more goods to Europe, intensifying competition in alternative markets.

鈥楲IKELY TO SAIL THROUGH鈥

However, economist Shankar Talreja, who is also the director of research at Topline Securities Ltd. brokerage form, said talks between Washington and Islamabad are likely to 鈥渟ail through.鈥

鈥淧ak-US trade talks are likely to sail through as Pakistan exports are primarily based on labor-intensive industry such as textile,鈥 Talreja told Arab News.

He said Pakistan is likely to increase its import of agricultural commodities such as cotton and petroleum products from the US to fill the trade deficit.

But if talks fail, Pakistani textile exports may be adversely affected, he said.

鈥淚f talks are not successful, Pakistan textile exports may get hurt in future assuming other countries will successfully negotiate with the US,鈥 the analyst warned.

The textile industry attracts the largest amount of foreign exchange for Pakistan, fetching $17 billion for the cash-strapped nation in FY2024.