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ISLAMABAD: United States President Donald Trump on Tuesday said that seven “brand new, beautiful” jets were shot down during a brief Pakistan-India aerial combat in May, saying his threat to halt trade with both countries helped end four-day military standoff.

The conflict, the most intense military confrontation between India and Pakistan in decades, erupted after an April 22 attack in Indian-administered Kashmir that killed 26 people. New Delhi blamed the assault on Pakistan, an allegation Islamabad denied and called for credible, global probe.

The hour-long India-Pakistan duel, which took place in darkness, involved some 110 aircraft, experts estimate, making it the world’s largest air battle in decades. Pakistani officials said they downed six India jets, including French-made Rafale. India acknowledged losses but did not specify a number.

Trump, who helped broker a ceasefire between the neighbors on May 10, said the threat of halting trade was “70 percent” responsible for ending conflicts involving Pakistan and India, Azerbaijan and Armenia, Thailand and Cambodia, Serbia and Kosovo, Israel and Iran, Egypt and Ethiopia, and Rwanda and Congo.

“If you look at India and Pakistan, they were going at it, seven planes were shot down, seven brand new, beautiful planes were shot down, and they were going at it, two big nuclear powers,” Trump said at a ceremony in Japan.

“And I said to Prime Minister [Narendra] Modi, and I said to the Prime Minister [Shehbaz Sharif], a very nice man, a very good man. And the Field Marshal [Asim Munir] over in Pakistan, I said, ‘Look, we’re not going to do any trade if you’re going to be fighting’.”

Trump has repeatedly taken credit for the May 10 ceasefire between India and Pakistan, which he announced on social media after Washington held talks with both sides. India, however, has disputed his claims that the truce resulted from his intervention or his threats to halt trade discussions.

Since the May ceasefire, Islamabad and Washington have expanded cooperation across multiple fronts, including counterterrorism, defense and mining and minerals.

The two sides have also deepened engagement on trade, technology and climate resilience, signaling a renewed effort to stabilize ties and promote long-term collaboration.

KARACHI: Nearly three-fourths of leading foreign investors in Pakistan view the country as a viable destination for future investment, a new survey showed on Tuesday, marking a cautious uptick in sentiment amid improved macroeconomic stability and a stronger currency.

The findings, published in the Overseas Investors Chamber of Commerce and Industry’s Perception and Investment Survey 2025, come as Islamabad seeks to rebuild investor confidence through the Special Investment Facilitation Council (SIFC), a hybrid civil-military body formed in 2023 to streamline decision-making, attract foreign investment and coordinate economic policy across federal and provincial levels.

The OICCI represents over 200 multinational firms. Its survey showed 73 percent of its members recommend Pakistan for foreign direct investment (FDI), up from 61 percent in 2023. The chamber attributed the shift to stabilizing inflation, which fell from 37 percent over two years ago to 4 percent in July 2025, a relatively stable rupee and improved credit ratings.

“The notable upward shift in investor sentiment demonstrates that economic stability and policy coordination are beginning to deliver results,” said OICCI President Yousaf Hussain.

“Initiatives like the SIFC have provided a structured mechanism for investment facilitation and inter-governmental alignment,” he added. “Going forward, deeper private-sector inclusion and continued reforms in taxation and regulatory efficiency will be key to sustaining this momentum.”

The survey found that foreign investors’ perception of business risk had shifted from high to medium, though many of them cited structural bottlenecks, including weak federal-provincial coordination, delayed tax refunds, high energy costs and lengthy commercial dispute resolution, as key constraints.

According to OICCI, 96 percent of members reported higher energy costs, 95 percent faced increased wage expenses and 91 percent cited rising raw material costs. Over half said commercial disputes take more than five years to resolve.

The chamber noted that Pakistan’s ability to sustain investor confidence will depend on consistent reforms and policy continuity.

It also urged the government to strengthen Pakistan’s global image, with 82 percent of respondents saying negative international coverage continued to affect investment decisions.

Foreign investors identified IT and digital services, renewable energy, agriculture, pharmaceuticals, and export-oriented manufacturing as the most promising sectors for future FDI.

“While investor confidence has improved, the survey also highlights critical areas needing immediate attention, particularly high business costs, complex taxation, and delays in contract enforcement,” OICCI CEO and Secretary General M. Abdul Aleem said.

Founded in 1860, the OICCI is Pakistan’s oldest business chamber and one of South Asia’s leading forums for multinational investors.