Pakistan records 10.58 percent increase in exports to Afghanistan amid economic crisis 

Goods carrier trucks cross into Pakistan at the zero point Torkham border crossing between Afghanistan and Pakistan, in Nangarhar province on February 25, 2023. (Photo courtesy: AFP)
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Updated 28 February 2023
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Pakistan records 10.58 percent increase in exports to Afghanistan amid economic crisis 

  • The cash-strapped country’s exports to other countries witnessed a decrease of 7.40 percent in the last seven months 
  • Overall exports to Afghanistan recorded at $285.177mln from Jul till Jan, against exports of $257.888mln last year 

ISLAMABAD: Pakistan’s central bank has revealed that the country’s export of goods and services to Afghanistan saw an increase of 10.58 percent during the first seven months of the current fiscal year (2022-23), a Pakistani state-owned news agency reported on Tuesday, notwithstanding the current economic crisis that has severely affected the export sector. 

The cash-strapped country’s exports to other countries witnessed a decrease of 7.40 percent in the last seven months, from $17.742 billion to $16.429 billion, according to the State Bank of Pakistan (SBP). The situation was aggravated by the devastating floods in the country last year, that almost wiped out the entire cotton crop, the main raw material for the textile sector, in the southern province of Sindh. The floods also partially damaged the crop in the eastern province of Punjab, causing a huge setback to the country’s biggest foreign exchange earning sector. 

Exports also continue to suffer after the government imposed an import ban, including the import of several raw materials, until a lifeline bailout is agreed with the International Monetary Fund (IMF) to keep the economy afloat. As a result, several industries, including steel, textiles and pharmaceuticals, are barely functioning, forcing thousands of plants to close. 

Despite a decrease in exports to other countries, Pakistan steadily sold goods and services, predominately comprising rice, cement, medicines, surgical instruments, and fruit and vegetables, to the neighboring Afghanistan. 

“Pakistan’s export of goods and services to Afghanistan witnessed an increase of 10.58 percent during the first seven months of the current fiscal year (2022-23) as compared to the exports of the corresponding period of last year,” the Associated Press of Pakistan (APP) reported, citing central bank data. 

The report said overall exports to Afghanistan were recorded at $285.177 million from July 2022 to January 2023, against the exports of $257.888 million from July 2021 till January 2022. 

“On a year-to-year basis, the exports to Afghanistan also increased by 93.26 percent from $17.384 million in January 2022, against the exports of $33.598 million in January 2023,” it read. 

On a month-on-month basis, Pakistan’s exports to Afghanistan decreased by 12.24 percent during January 2023 as compared to the exports of $38.297 million in December 2022, the SBP data revealed. 

The report said that imports from Afghanistan into the country during the period under review were recorded at $13.389 million against $105.605 million last year, showing a decline of 87.32 percent from July 2022 till January 2023. 

On a year-on-year basis, imports from Afghanistan witnessed decreased by 99.10 percent, while on a month-on-month basis, imports from the neighboring country dropped by 92.13 percent in January. 

The overall imports into Pakistan witnessed a decrease of 20.91 percent, from $42.297 billion to US $33.451 billion, according to the data. 

Based on the trade figures, the trade of goods and services with Afghanistan witnessed an increase of 78.47 percent in surplus during July-January as compared to the corresponding period of the last year. 

The surplus during the period under review was recorded at $271.788 million against $152.283 million, showing a growth of 78.47 percent, the data revealed. 
 


Pakistan vows to preserve Indus Waters Treaty amid ceasefire with India

Updated 5 sec ago
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Pakistan vows to preserve Indus Waters Treaty amid ceasefire with India

  • India suspended the treaty, which ensures water for 80 percent of Pakistani farms, a day after an April 22 attack in Indian-administered Kashmir killed 26 tourists
  • Tensions between the two neighbors over the attack, Islamabad denies any complicity in, escalated and both launched air and ground strikes against the other this week

ISLAMABAD: Pakistan is committed to upholding a ceasefire with India but it will take “all appropriate steps” to preserve the Indus Waters Treaty (IWT), the Pakistani Foreign Office said on Sunday, saying the treaty is critical for Pakistan’s water security and economy.
Pakistan and India engaged in a military conflict and attacked the other with fighter aircraft, missiles, drones and artillery fire, following weeks of tensions between the two over an attack in the disputed Kashmir region that India blamed on Pakistan, Islamabad denies it.
The incursions that targeted several cities for four days killed nearly 60 people on both sides as major world powers scrambled for a ceasefire between the nuclear-armed arch-foes. On Saturday, US President Donald Trump announced a ceasefire that has largely held, except for some violations in Kashmir.
However, tensions remain high since Saturday’s announcement by Indian Foreign Secretary Vikram Misri that the 1960 World Bank-brokered treaty would remain in abeyance, signaling deeper diplomatic rifts despite the temporary cessation of hostilities between the two neighbors.
“We are committed on ceasefire but the IWT is of critical importance for Pakistan’s water security and economy,” Pakistani Foreign Office spokesperson Shafqat Ali Khan told Arab News.
“Naturally, we will take all appropriate steps to preserve its sanctity and smooth implementation.”
India suspended the treaty, which ensures water for 80 percent of Pakistani farms, a day after the April 22 attack in Indian-administered Kashmir’s Pahalgam that killed 26 tourists. Islamabad has called for a credible, international probe into the attack and described the Indian move to suspend the treaty as “act of war.”
The IWT grants Pakistan rights to the western rivers — Indus, Jhelum, and Chenab — for irrigation, drinking, and non-consumptive uses like hydropower, while India controls the eastern rivers — Ravi, Beas, and Sutlej — for unrestricted use but must not significantly alter their flow. India can use the western rivers for limited purposes such as power generation and irrigation, without storing or diverting large volumes, according to the agreement.
“The fact is that there have been fundamental changes in the circumstances in which the Indus Waters Treaty was concluded,” Indian Foreign Secretary Misri was quoted as saying by NDTV on Thursday.
He said there is now a need to “reassess the obligations under that treaty.”
Khan, the Pakistani Foreign Office spokesperson, said India is in no position to unilaterally hold the treaty in abeyance in the absence of any relevant legal provisions in the agreement.
“Water is a vital national interest of Pakistan, a lifeline for its 240 million people and its availability will be safeguarded at all costs,” he said, reiterating Islamabad’s position that any attempt to stop or divert the flow of its water would be “responded with full force across the complete spectrum of national power.”
Pakistan’s Federal Minister for Kashmir Affairs Amir Muqam said any attempt to stop Pakistan’s share of water could lead to dangerous escalation between the two nuclear-armed neighbors.
“Stopping or reducing our share is absolutely not acceptable and can lead to further and dangerous escalation,” he told Arab News. “The revival of the Indus Waters Treaty in its current form remains a top priority on the agenda in any negotiations between the two countries.”
Muqam further stated that India must revive the IWT in its original form to maintain long-term peace in the region.
“There can be no compromise on it as it is a matter of life and death for us and there is no question of it that they [Indians] stop our water and we will remain silent,” the minister added.
Pakistan and India have a history of bitter relations, having fought two of their three wars over Kashmir, a region split between them, since gaining independence from the former British colonial rule in 1947.


Peshawar Zalmi pledge Rs50 million for Pakistani pilots for ‘heroic response’ to India strikes

Updated 52 min 36 sec ago
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Peshawar Zalmi pledge Rs50 million for Pakistani pilots for ‘heroic response’ to India strikes

  • The announcement comes as Pakistanis mark a ‘Day of Gratitude’ to recognize the nation’s reply to India’s fighter jet, missile, drone and artillery strikes
  • A ceasefire, brokered by the US, appeared to hold between the two arch-rivals on Sunday after four days of fighting killed nearly 60 people on both sides

ISLAMABAD: Pakistan Super League (PSL) franchise Peshawar Zalmi have pledged Rs50 million ($177,809) for Pakistani pilots for their “heroic response” to India’s missile and drone strikes on Pakistan this week, the franchise said on Sunday, in a gesture of national solidarity.
The announcement came as Pakistanis marked a “Day of Gratitude,” announced by Prime Minister Shehbaz Sharif, on Sunday to recognize the nation’s “befitting response” to India’s fighter jet, missile, drone and artillery strikes.
Hours after India’s missile strikes on multiple Pakistani cities on Wednesday, Pakistan said it had downed five Indian fighter jets, a claim partly corroborated by Indian government sources who confirmed at least three.
Javed Afridi, the Peshawar Zalmi chairman, said the recent events posed a serious threat to national security and public safety, but the “swift, precise and heroic response” of Pakistan’s air defenders averted any major damage.
“Their unwavering courage, dedication, and sacrifice are the heartbeat of our national pride. Today, we honor them not just with words, but through meaningful action,” Afridi was quoted as saying by his franchise.
“This contribution is more than a gesture — it is a powerful symbol of national solidarity and deep respect for the heroes who shield our skies with unshakable resolve.”
The statement came as a ceasefire, brokered by the United States (US), appeared to hold between the two nuclear-armed arch-rivals on Sunday. Four days of fighting between the two nations killed nearly 60 people and sent thousands fleeing, in the worst violence since India and Pakistan’s last open conflict in 1999.
The cross-border incursions forced both countries to postpone their respective Twenty-20 cricket leagues to ensure safety of local and international players as well as the spectators.
Cricket authorities of both countries have been in discussions to announce rescheduled dates and venues for the matches that had yet to be played.


Pope Leo XIV welcomes India-Pakistan ceasefire in first Sunday message 

Updated 11 May 2025
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Pope Leo XIV welcomes India-Pakistan ceasefire in first Sunday message 

  • New pope calls for lasting, “authentic” peace in Ukraine and a ceasefire in Gaza
  • Pakistan struck Indian military bases with missiles on Saturday, widening fears of war

VATICAN CITY: Pope Leo XIV appealed to the world’s major powers for “no more war” in his first Sunday message to crowds in St. Peter’s Square since his election as pontiff.

The new pope, elected on May 8, called for an “authentic and lasting peace” in Ukraine and a ceasefire in Gaza and release of all Israeli hostages.

Leo also welcomed the recent ceasefire between India and Pakistan, and said he was praying to God to grant the world the “miracle of peace.”

“No more war!” the pope said, repeating a frequent call of the late Pope Francis and noting the recent 80th anniversary of the end of the Second World War, which killed some 60 million people.

Leo said today’s world was living through “the dramatic scenario of a Third World War being fought piecemeal,” again repeating a phrase coined by Francis.

The new pope said he carries in his heart the “suffering of the beloved people of Ukraine.” He appealed for negotiations to reach an “authentic, just and lasting peace.”

He also said he was “profoundly saddened” by the war in Gaza, calling for an immediate ceasefire, humanitarian aid and release of the remaining hostages held by the militant group Hamas.

Leo said he was glad to hear of the recent India-Pakistan ceasefire and hoped negotiations would lead to a lasting accord between the nuclear armed neighbors.

He added: “But there are so many other conflicts in the world!“


Azad Kashmir says India’s cross-border shelling killed 31 in last four days

Updated 11 May 2025
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Azad Kashmir says India’s cross-border shelling killed 31 in last four days

  • Eleven people were killed in district Kotli while six each were killed in districts Bhimber and Poonch
  • India and Pakistan agreed to an uneasy ceasefire brokered by the United States on Saturday evening

ISLAMABAD: At least 31 people were killed and 123 injured in the last four days due to cross-border firing by Indian forces, Pakistan-administered Kashmir’s disaster management authority said on Sunday. 

Indian and Pakistani troops have exchanged heavy fire along the Line of Control (LoC), the de facto border dividing the disputed Himalayan Kashmir territory between India and Pakistan, since tensions escalated last month. 

Tensions surged between the nuclear-armed neighbors this week when India fired missiles at what it said were “terrorist” camps in Pakistan, killing several people. New Delhi blamed Islamabad for an Apr. 22 attack at a tourist resort in Indian-administered Kashmir that killed 26, charges that Islamabad denied. Pakistan said Indian strikes on Wednesday killed several civilians, vowing retaliation. 

Pakistan’s military launched retaliatory strikes against India on Saturday morning in response to what it said were drone and missile strikes on Pakistani air bases during the wee hours of Friday. Both countries have since then agreed to a ceasefire brokered by the United States and encouraged by other countries. 

“Thirty-one people were killed in Azad Kashmir’s ten districts during the last four days during the India-Pakistan war,” Azad Kashmir’s State Disaster Management Authority said in a situation report. 

Giving a breakdown of the figures, the report said 11 people were killed in Kotli district while six each died in districts Bhimber and Poonch. Three people were killed in Muzaffarabad district while two were killed in Neelum. 

The report said 287 houses and 21 shops were damaged due to shelling in the past four days while 22 cattle were killed. 

Within hours of the ceasefire announcement on Saturday, India accused Islamabad of violating it by targeting Srinagar city in Indian-administered Kashmir.

Pakistan’s Information Minister Ata Tarar denied the allegation, saying people in his country were celebrating the end of the conflict and the government remained committed to the agreement.

The foreign office of Pakistan also maintained the country remained committed to the “faithful implementation” of the ceasefire.


Pakistani health tech platform raises $6 million to expand across GCC

Updated 11 May 2025
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Pakistani health tech platform raises $6 million to expand across GCC

  • Founded in 2020, MedIQ says it provides convenient on-demand and cashless walk-in services to its customers
  • MedIQ says will use funding to strengthen technology stack, scale operations in Kingdom’s health tech market

ISLAMABAD: Pakistan-based health tech platform MedIQ recently announced it has raised $6 million in a series A funding round led by Saudi Arabia’s venture capital Rasmal Ventures and the Kingdom’s investment company, Joa Capital. 

MedIQ was founded by Dr. Saira Siddiqui, a doctor who holds a PhD in Health Economics from the University of Yorkshire, in 2020 in Pakistan’s capital Islamabad. 

The startup aims to redefine health care through a digitally enabled hybrid ecosystem and is currently operating in Pakistan, Saudi Arabia, the United Arab Emirates (UAE) and Canada.

“This over-subscribed round signals strong investor confidence in our accelerated market traction, validates our excellence in engineering to support in becoming the leading health tech player in MENA, and reinforces the great experience our customers have with MedIQ Solutions,” the platform said in a LinkedIn post on May 4. 

“With fresh capital, a focused team, and a purpose-driven founder, MedIQ is now primed to scale across the GCC to become a regional leader,” it added. 

The company, which expanded into Saudi Arabia in 2023, said it will use the funding to strengthen its technology stack, scale operations in the Kingdom’s health tech market and support entry into Qatar and neighboring Gulf markets.

In an interview with Arab News in 2023, Dr. Siddiqui expressed her desire to see the platform expand across GCC countries. 

Siddiqui had said women were the bulk users of MedIQ’s products as it is usually hard for them to visit hospitals without male companions in Pakistan and the Middle East. 

“According to the figures which we have, about 74 percent of our users are women and [the] women having children or dependents such as older parents,” she had said.