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Pakistan’s finance chief eyes ‘step-change’ US investment after Washington trade talks

Pakistan’s finance chief eyes ‘step-change’ US investment after Washington trade talks
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb meets US Secretary of Commerce Howard Lutnick (left) in Washington, DC, US, on July 18, 2025. (PID)
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Updated 36 min 3 sec ago

Pakistan’s finance chief eyes ‘step-change’ US investment after Washington trade talks

Pakistan’s finance chief eyes ‘step-change’ US investment after Washington trade talks
  • Minister Muhammad Aurangzeb hints at forthcoming ‘leadership-level’ announcement in coming days
  • Says both sides have identified investment areas including minerals, mining and artificial intelligence

KARACHI: Pakistan and the United States are exploring a shift in their economic engagement from a trade-focused relationship to one anchored in long-term investment, Finance Minister Muhammad Aurangzeb said in a video message after high-level talks in Washington on Friday.

The meeting between Aurangzeb, US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer followed a virtual discussion last month during which both sides agreed to push negotiations forward “at the earliest.”

The talks come after the US imposed a 29 percent “reciprocal tariff” on Pakistani exports under President Donald Trump’s trade measures announced in April, a move Islamabad said could undercut its fragile, export-led recovery.

“One thing we discussed was that we have to move beyond the immediate trade imperative for it to be brought into the next level and bring in a real step change,” Aurangzeb said after his interaction with US officials.

“So, the investment imperative will come forward, and areas have already been identified in terms of minerals and mining, in terms of AI [artificial intelligence], in terms of digital infrastructure [and] crypto,” he continued. “We feel that this will be a real game changer, God willing, in terms of the relationship and the economic relationship between Pakistan and the United States.”

The Pakistani finance chief said both sides were committed to resolving outstanding trade issues to move “toward the finishing line” and begin investment-related discussions “very quickly.”

He also hinted at forthcoming announcements “at the leadership level,” which he said would reflect all the hard work and efforts that have been put in both by Pakistan and on the US side.

“We begin with trade, and then it will very quickly be followed through with investment discussions between the two countries and real execution of the investment upside,” he said, calling the next phase a “real win-win for Pakistan and the United States.”

Pakistan’s finance ministry has said the US remains its largest trading partner while emphasizing Islamabad’s interest in expanding cooperation beyond textiles to other sectors.

The US is Pakistan’s top export destination, with shipments totaling $5.44 billion in the 2023-24 fiscal year.

From July 2024 to February 2025, exports rose 10 percent from a year earlier, according to official data.


Pakistan deputy PM to travel to US next week for UN meetings on Palestine, multilateralism

Pakistan deputy PM to travel to US next week for UN meetings on Palestine, multilateralism
Updated 56 sec ago

Pakistan deputy PM to travel to US next week for UN meetings on Palestine, multilateralism

Pakistan deputy PM to travel to US next week for UN meetings on Palestine, multilateralism
  • Pakistan is hosting a series of UN meetings after assuming the Security Council’s presidency this month
  • Ishaq Dar will chair an open debate on strengthening multilateralism and peaceful settlement of disputes

ISLAMABAD: Pakistan’s Deputy Prime Minister (DPM) and Foreign Minister (FM) Ishaq Dar will travel to the United States next week to chair UN Security Council meetings in New York focused on multilateralism and the Palestinian issue, the foreign office said in a statement on Saturday.

Pakistan assumed the rotating presidency of the UN Security Council earlier this month and is hosting a series of “signature events” — or high-level meetings organized by the Council president — to spotlight key diplomatic priorities.

Dar will chair an open debate on strengthening multilateralism and peaceful settlement of disputes, and preside over a quarterly debate on the situation in the Middle East, including the Palestinian question.

“The high-level debate aims at exploring ways to strengthen multilateralism, and at enhancing diplomacy and mediation for peaceful settlement of disputes,” the foreign office said.

Dar will also lead a briefing at the Council on enhancing cooperation between the United Nations and the Organization of Islamic Cooperation (OIC), as part of Pakistan’s broader effort to bolster institutional partnerships for international peace and security.

“To express Pakistan’s strong commitment, and unwavering support for the right to self-determination of the Palestinian people, the DPM/FM will also attend the high-level Conference on the ‘Peaceful Settlement of the Question of Palestine and the implementation of Two-State Solution,’” the statement added.

Pakistan has consistently supported Palestinian statehood and called for an end to Israeli occupation in various multilateral forums.

During his stay in New York, Dar is expected to hold bilateral meetings with UN officials and counterparts from other member states.

The foreign office said he will also travel to Washington for other official engagements.

“Deputy Prime Minister/Foreign Minister, Senator Mohammad Ishaq Dar’s visit to New York and Washington exemplifies Pakistan’s growing role and importance in the multilateral arena as well as its expanding multifaceted relations with the US,” the statement said.


New-look Pakistan and Bangladesh face off in T20 series

New-look Pakistan and Bangladesh face off in T20 series
Updated 24 min 17 sec ago

New-look Pakistan and Bangladesh face off in T20 series

New-look Pakistan and Bangladesh face off in T20 series
  • Pakistan skipper says squad shaping up well for next World Cup despite missing key players
  • Bangladesh will enter the series on Sunday after securing a 2-1 T20 win in Sri Lanka last week

DHAKA: Pakistan captain Salman Agha is confident his new-look side is shaping up well toward next year’s World Cup as they take on Bangladesh in a Twenty20 series starting in Dhaka from Sunday.

Agha has been leading the short format side with star batsmen Babar Azam and Mohammad Rizwan out since last year.

Pace spearhead Shaheen Shah Afridi has been rested for the three-match series and seam bowlers Haris Rauf, Naseem Shah and Mohammad Wasim are also missing because of injuries.

Agha said the missing players could still be considered for the T20 World Cup in India and Sri Lanka next year.

“We have changed the way we want to play but we are confident of our build-up and direction,” said Agha on Saturday.

“We are going for this series with ample preparations as Bangladesh can be a challenging team in their home conditions.”

New Zealander Mike Hesson is Pakistan’s new white-ball coach. His first assignment was a 3-0 series win at home against Bangladesh 3-0 last month.

With leg-spinner Shadab Khan also injured, Pakistan have picked two uncapped fast bowlers in Salman Mirza and Ahmed Daniyal.

Bangladesh won a T20 series 2-1 in Sri Lanka last week.

“What happened in Sri Lanka is in the past,” said captain Litton Das.

“We have to face a new challenge starting tomorrow. We are ready for this challenge.

“We have the mentality to beat any team, but we have to play well on the particular day and not entirely bank on home conditions.”

Bangladesh have kept the same squad that went to Sri Lanka

The second and third matches are on Tuesday and Thursday, also in Dhaka.


Nine militants killed, three officers wounded in security operation in northwest Pakistan

Nine militants killed, three officers wounded in security operation in northwest Pakistan
Updated 19 July 2025

Nine militants killed, three officers wounded in security operation in northwest Pakistan

Nine militants killed, three officers wounded in security operation in northwest Pakistan
  • The joint raid by police and security forces carried out in Hangu led to a two-hour firefight
  • District police chief was among the injured, with all officials out of danger and recovering

PESHAWAR: A joint operation by police and security forces killed nine militants in Hangu district of northwestern Khyber Pakhtunkhwa province on Saturday, police said, after a fierce gunbattle that left three senior officials, including the district police chief and a military officer, wounded.

The operation, launched around 1 PM based on actionable intelligence about militant presence in the area, resulted in a two-hour-long firefight before the area was cleared, according to police.

Hangu has long experienced sectarian and militant unrest, including deadly suicide bombings targeting civilian areas and mosques, and Saturday’s raid marked the latest in a series of operations aimed at curbing militant violence in the province.

Hangu police spokesperson Saqib Khan told Arab News reinforcements were quickly deployed to support frontline units and block any escape routes.

“During the intense exchange of fire, DPO [District Police Officer] Khalid Khan, a police inspector Nabi Khan and a senior military official sustained injuries,” he said. “Fortunately, all three are out of danger and receiving proper medical care.”

Khyber Pakhtunkhwa’s Inspector General of Police (IGP) Zulfiqar Hameed commended the bravery of the officers and said he had spoken to the injured district police chief.

“He is in high spirits and recovering well,” the IGP noted in a statement.

Following the operation, Chief Minister Ali Amin Gandapur paid tribute to the DPO and his team for their “exemplary courage and bravery.”

“DPO Khalid Khan and his team thwarted the nefarious designs of the terrorists with exceptional valor and determination,” a statement quoted Gandapur as saying.

He directed authorities to ensure the best possible medical care for the injured personnel.

“DPO Khalid Khan led from the front and confronted the terrorists head-on, displaying remarkable bravery,” he added. “We are proud of such fearless and courageous police officers and personnel.”

Gandapur reaffirmed the entire nation stood firmly behind its security forces in the fight against militant violence.


Pakistan wins top honors at UK air show after JF-17 deployment post-India clash

Pakistan wins top honors at UK air show after JF-17 deployment post-India clash
Updated 19 July 2025

Pakistan wins top honors at UK air show after JF-17 deployment post-India clash

Pakistan wins top honors at UK air show after JF-17 deployment post-India clash
  • The Royal International Air Tattoo is among the world’s most prestigious military aviation events
  • Pakistan’s air chief says keeping the national flag high has always been the air force’s hallmark

KARACHI: Pakistan Air Force has won two prestigious awards at the Royal International Air Tattoo (RIAT) in the United Kingdom, said an official statement on Saturday, where its newly deployed JF-17 Thunder Block-III fighter jets made their debut amid heightened interest following a recent military standoff with India.

The JF-17 Block-III was awarded the coveted “Spirit of the Meet” Trophy, a rare honor given to the aircraft that best embodies the ethos and excitement of the global event. Pakistan’s C-130H Hercules, painted in a custom livery themed “Eyes in the Skies,” also received the “Concours d’Elegance” Trophy for best-maintained and most aesthetically presented aircraft, according to Pakistan’s military.

The awards come just days after Pakistan deployed these aircraft to the RIAT, one of the world’s most prestigious military air shows, as part of a broader push to display its airpower and modernization drive.

“Winning these prestigious awards is a testament to our professionalism, technical expertise and relentless pursuit of excellence,” said Air Chief Marshal Zaheer Ahmed Baber Sidhu, who congratulated the PAF contingent on its performance, according to the military’s media wing, Inter-Services Public Relations (ISPR).

“Keeping the nation’s flag high has always been the hallmark of Pakistan Air Force,” he added.

The JF-17 Block-III is a 4.5-generation, multi-role fighter equipped with a long-range beyond-visual-range missile capability. Co-developed by Pakistan and China, the aircraft is central to Pakistan’s indigenous defense strategy.

It also played a vital role in the intense, four-day military standoff with India in May when Pakistan shot down advanced Indian fighter jets.

The aircraft flew from Pakistan to Royal Air Force Base Fairford in southern England earlier this week, successfully conducting air-to-air refueling mid-flight — a maneuver the military described as evidence of the PAF’s growing long-range operational capabilities.

“PAF’s outstanding performance at RIAT-2025 not only cements its standing among leading global air forces but also serves as a source of immense pride for the entire Pakistani nation,” the ISPR said.

Pakistan has previously won honors at RIAT in 2006, 2016, and 2018, reinforcing what the statement described as a consistent record of aviation excellence.


Relief operations underway as Pakistan rain death toll nears 200

Relief operations underway as Pakistan rain death toll nears 200
Updated 19 July 2025

Relief operations underway as Pakistan rain death toll nears 200

Relief operations underway as Pakistan rain death toll nears 200
  • The downpours have also damaged nearly 700 homes across the South Asian country
  • Punjab deputy commissioners to remain in field until rainwater drainage is completed

ISLAMABAD: Authorities were conducting relief operations in several areas across Pakistan after this week’s torrential rains appeared to largely subside, with the death toll from rain-related incidents nearing 200 since late June.

Pakistan’s most populous Punjab province has been the hardest hit with 114 deaths, followed by 40 in Khyber Pakhtunkhwa (KP), 21 in Sindh, 16 in Balochistan and one each in Islamabad and Azad Kashmir since June 26, according to the National Disaster Management Authority (NDMA).

Authorities rescued four special persons who were stranded in floodwaters, while 18 others were evacuated to safety in Kacha Rokhri area in Punjab’s Minawali district, the ruling Pakistan Muslim League-Nawaz party said on X, citing authorities.

“Immediate cleaning of landslide-affected roads in different areas of Chakwal has started. Administration, rescue and heavy machinery are present on the spot,” the party said.

“Deputy commissioners have been instructed to remain in the field until rainwater drainage is completed.”

The downpours have also damaged nearly 700 homes across the South Asian country, according to the disaster management authorities. Rations, blankets and tents are being distributed by local administrations in affected areas.

“Scattered thunderstorm/rain with isolated heavy falls is expected over Sindh, East Balochistan and South Punjab,” the NDMA said in its weather outlook for Saturday and Sunday.

Monsoon season brings South Asia 70 to 80 percent of its annual rainfall, arriving in early June in India and late June in Pakistan, and lasting through until September.

The annual rains are vital for agriculture and food security, and the livelihoods of millions of farmers. But increasingly erratic and extreme weather patterns are turning the rains into a destructive force.

In 2022, record-breaking monsoon rains combined with glacial melt submerged nearly a third of Pakistan, killing more than 1,700 people and displacing over 8 million. In May, at least 32 people were killed in severe storms, including strong hailstorms.