ISLAMABAD: Pakistan will organize a single-country trade exhibition in Jeddah from Feb. 5-7 next year, an official of the Trade Development Authority of Pakistan (TDAP) said on Sunday, in which products from around 100 companies will be showcased as Islamabad eyes the Saudi market to boost its exports.
Islamabad and Riyadh have been working in recent months to increase bilateral trade and investment, and the Kingdom this year reaffirmed its commitment to expedite an investment package worth $5 billion for Pakistan.
Pakistani and Saudi businesses had signed 27 agreements and memorandums of understanding (MoUs) worth $2.2 billion in October. During Prime Minister Shehbaz Sharif’s visit to the Kingdom last month, the two countries agreed to enhance that figure to $2.8 billion.
“Pakistan will organize a single-country exhibition from Feb. 5-7, 2025, in Jeddah, Saudi Arabia, with the aim of increasing exports to the Kingdom,” Faisal Awan, TDAP’s deputy manager, told Arab News.
The TDAP will organize the exhibition, which Awan said would feature 100 Pakistani companies so they can “showcase their products directly to Saudi buyers in their own country.”
The official said TDAP has already published advertisements inviting Pakistani companies to showcase their products, setting Nov. 25 as the deadline to apply.
“We have invited companies from all sectors including engineering, agro products, textile and garments and services,” Awan added.
TDAP has also invited manufacturers from various sectors such as engineering, home appliances, machinery, pharmaceuticals, surgical instruments, cables and agro products such as fruits, vegetables, rice, meat, seafood, spices and processed foods, according to the advertisement seen by Arab News.
The invitation also extends to the textile and garments sector that offers knitwear, ready-made garments, home textiles, yarns, linen and fabrics, as well as the services sector which covers telecom, computer and information services.
“So far, we have received an excellent response with over 50 applications submitted in just over a week,” Awan said.
The TDAP is providing a subsidy of around 80 percent on the rates for stalls at the exhibition, Awan shared. He said the authority is charging only Rs 200,000 ($720) for each stall while the actual cost is around Rs 1.2 million ($4,319).
“Other arrangements such as visa, air tickets and accommodation must be handled by the company itself,” he said.
Awan said that while every market has its dynamics, Pakistan has a lot of expectations from the Saudi market due to the increasing business collaborations between the two countries in recent months.
“Since we have had a lot of delegations coming and going from Saudi Arabia in recent months, our expectations are very high,” Awan said. “And we aim to secure orders in the millions of dollars.”
The TDAP official said leads generated during the exhibition would be expected to materialize in the next five to six months.
Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as the top source of remittances to the cash-strapped South Asian nation.
Islamabad has eyed increasing collaboration in economic and trade sectors as it grapples with a prolonged economic crisis that drained its resources, triggered double-digit inflation in the country and weakened its currency over the past two years.
In 2023, Pakistan formed the Special Investment Facilitation Council (SIFC), a hybrid civil-military body tasked with fast-tracking decisions related to foreign investment.
The SIFC aims to attract investment in minerals, agriculture, livestock, energy, tourism and other vital sectors of Pakistan’s economy, mostly from Gulf countries.
Pakistan to organize single-country trade exhibition in Jeddah in February — official
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Pakistan to organize single-country trade exhibition in Jeddah in February — official
- Around 100 Pakistani companies to participate in three-day exhibition from Feb. 5-7, says official
- Companies offering agro products, engineering, textile, garments and services invited to take part in exhibition
Pakistan ‘concerned’ over deadly attack in Indian-administered Kashmir, Delhi vows ‘loud and clear’ response
- Twenty-six people were killed and 17 were injured when suspected militants opened fire at tourists in Jammu and Kashmir territory
- Such attacks have historically strained ties between India and Pakistan, two nuclear-armed rivals with a long-standing dispute over Kashmir
ISLAMABAD: Pakistan said on Wednesday it was “concerned” after 26 people were gunned down at a tourist site in Indian-administered Kashmir in the region’s deadliest attack on non-combatants in decades, with New Delhi vowing a “loud and clear” response.
The shooting occurred Tuesday afternoon in Pahalgam, a popular resort town in the Anantnag district, where armed men emerged from forest cover and opened fire on crowds of mostly domestic tourists. A little-known militant group, the “Kashmir Resistance,” claimed responsibility for the attack in a social media message, saying more than 85,000 “outsiders” had been settled in the region after arriving as tourists, vowing violence against such settlers.
Kashmir is divided between India and Pakistan since 1947, which they both claim fully but rule in part, and has been plagued by years of insurgent violence that New Delhi says is supported by Islamabad. Pakistan denies the accusations, saying it only provides diplomatic support to Kashmiris in their struggle for self-determination.
Such attacks have historically strained ties between India and Pakistan. In 2019, a suicide bombing in Pulwama killed 40 Indian paramilitary personnel and triggered cross-border air strikes, pushing the neighbors to the brink of war.
“We are concerned at the loss of tourists’ lives in an attack in Anantnag district,” the Pakistani foreign office said in a statement. “We extend our condolences to the near ones of the deceased and wish the injured a speedy recovery.”
Indian Prime Minister Narendra Modi, who cut short a state visit to Saudi Arabia after the attack, called it an “heinous act” and pledged justice against the perpetrators.
“Those responsible and behind such an act will very soon hear our response, loud and clear,” Indian Defense Minister Rajnath Singh said in a speech in New Delhi on Wednesday.
“We won’t just reach those people who carried out the attack. We will also reach out to those who planned this from behind the scenes on our land,” he said in what was widely seen as a veiled reference to Pakistan.
“India’s government will take every step that may be necessary and appropriate,” he added.
On Wednesday, India’s army also reported killing two gunmen in a separate incident near the Line of Control, the de facto border separating the Pakistani and Indian sides of Kashmir, in Baramulla district, describing it as a foiled infiltration attempt.
A violent separatist insurgency has simmered in the Indian-administered part of Kashmir since the late 1980s, although militant violence had declined in recent years.
PARTITION AND ACCESSION
After partition of the subcontinent in 1947, Kashmir was expected to go to Pakistan, as other Muslim majority regions did. Its Hindu ruler wanted to stay independent but, faced with an invasion by Muslim tribesmen from Pakistan, acceded to India in October 1947 in return for help against the invaders.
GEOGRAPHY AND DEMOGRAPHICS
Kashmir ended up divided among Hindu-majority India, which governs the Kashmir Valley, Jammu, and Ladakh; Muslim-majority Pakistan, which controls Azad Kashmir (“Free Kashmir“) and the Northern Areas, and China, which holds Aksai Chin.
Indian-administered Kashmir has a population of around 7 million, of whom nearly 70 percent are Muslim.
ARTICLE 370
This provision of the Indian constitution which provided for partial autonomy for Jammu & Kashmir was drafted in 1947 by the then prime minister of the state, Sheikh Abdullah, and accepted by India’s first prime minister Jawaharlal Nehru. Although intended as temporary, it was included in India’s Constitution in 1949 by the constituent assembly.
REVOKING OF SPECIAL STATUS
In August 2019, Prime Minister Narendra Modi’s government revoked Kashmir’s semi-autonomous status in a move it said would better integrate the region with the rest of the country. The state was reorganized into two federally administered union territories- Jammu and Kashmir, and Ladakh. Pakistan strongly objected, downgrading diplomatic ties with India and cutting off trade.
WARS AND MILITARY STANDOFFS
India and Pakistan have fought three wars since independence, two of them over Kashmir, in 1947 and 1965. A third in 1971 led to the creation of Bangladesh. In 1999, the they clashed again in the Kargil region in what was described as an undeclared war. A UN-brokered ceasefire line, the Line of Control, now divides the region.
THE INSURGENCY
Many Muslims in Indian Kashmir have long resented what they see as heavy-handed rule by India. In 1989, an insurgency by Muslim separatists began. India poured troops into the region and tens of thousands of people have been killed.
India accuses Pakistan of arming and training militants, which Islamabad denies, saying it offers only moral and diplomatic support.
RECENT YEARS
Modi says his 2019 decision brought normalcy to Kashmir after decades of bloodshed. Violence has tapered off in recent years, according to Indian officials, with fewer large-scale attacks and rising tourist arrivals. Targeted killings of civilians and security forces, however, continued to be reported.
2024 ELECTIONS
In 2024, Jammu and Kashmir held its first local elections since the 2019 revocation of autonomy. Several newly elected lawmakers urged a partial restoration of Article 370. Key regional parties had boycotted or criticized the polls, saying the winners would not get any real political power.
With inputs from Reuters
GAVI, Unicef supply 31 refrigerated trucks to strengthen Pakistani children’s access to vaccines
- Five trucks to be allocated to each Pakistani province, says Health Minister Syed Mustafa Kamal
- Harsh weather, difficult terrains and limited health care facilities complicate delivery of vaccines
ISLAMABAD: The United Nations International Children’s Emergency Fund (UNICEF) and global vaccine alliance Gavi have donated 31 refrigerated trucks to Pakistan, the country’s health ministry confirmed on Wednesday, in their bid to improve vaccine access for children in remote areas.
Children in Pakistan’s remote areas face considerable challenges in accessing vaccines. Many parts of the country, such as mountainous terrains in the north, desert areas in the south and conflict-affected zones lack proper road infrastructure and reliable transportation for vaccines.
Refrigerated trucks, also known as cold chain vehicles, store vaccines in specific cold temperatures to ensure they do not lose their effectiveness. These trucks were provided through a collaborative effort between the Pakistani government, UNICEF and Gavi, the health ministry said.
“UNICEF officially handed over 31 refrigerated trucks to the Federal Directorate of Immunization (FDI) in Islamabad today,” the Ministry of National Health Services Regulations and Coordination said.
Health Minister Syed Mustafa Kamal and UNICEF’s representative in Pakistan, Abdullah Fadil, took part in a ceremony during which the trucks were handed over to Pakistan.
The ministry quoted Kamal as saying that five refrigerated trucks would be allocated to each province of the country.
“These new refrigerated vehicles will significantly strengthen access to life-saving vaccines for children across Pakistan, including the remote regions of Gilgit-Baltistan and other hard-to-reach areas,” he said.
Kamal also spoke about Pakistan’s ongoing national anti-polio drive, which began on Apr. 21 and will run for seven days. Over 450,000 frontline workers are taking part in the drive.
The health minister expressed concern over parents’ growing refusals for polio drops and directed authorities to file a police report against vaccine refusers.
“Every child has the right to be protected from preventable diseases,” UNICEF’s Fadil was quoted as saying. “By safeguarding vaccine potency through a strengthened cold chain, we are making strides toward a healthier Pakistan where every child is fully immunized.”
The health ministry said UNICEF, with support from Gavi, was also providing technical assistance to improve vaccine micro plans, cold chain system strengthening and real-time monitoring.
This latest initiative builds upon ongoing support for vaccine access in Pakistan, which included the delivery of 23 refrigerated vehicles in 2021 and seven pick-up trucks earlier this year.
Pakistan central bank to launch ‘green taxonomy’ guidelines by June — finance minister
- Guidelines will pave the way for launching instruments like green bonds, green sukuk, country’s first panda bond
- Pakistan is making efforts to mobilize private sector capital for environmentally sustainable development
KARACHI: The State Bank of Pakistan is finalizing a green taxonomy framework set for launch in June, the finance minister said this week, paving the way for innovative instruments such as green bonds, green sukuks, and the country’s inaugural panda bond.
In May 2021, Pakistan issued its first $500 million green bond to fund a hydroelectric project. Last month, the country launched its first-ever rupee-denominated green bond as part of efforts to mobilize private sector capital for environmentally sustainable development.
Pakistan’s Nationally Determined Contributions 2021 (NDCs) set a cumulative and ambitious conditional target of an overall 50 percent reduction in its projected emissions by 2030, with 15 percent from the country’s own resources, and 35 percent subject to provision of international finance amounting to $101 billion just for energy transition. To reach the target, Pakistan aims to shift to 60 percent renewable energy (RE), and 30 percent EVs by 2030 and completely ban imported coal, while expanding nature-based solutions. A green finance scheme in the country can significantly support the achievement of these targets.
“Now the State Bank is in the process of finalizing the green taxonomy guidelines,” Finance Minister Muhammad Aurangzeb said during a talk at The Atlantic Council. “In the June timeframe, they will come out with the green taxonomy framework.”
Recalling Pakistan’s first green bond by the Water and Power Development Authority in 2021, he said a second step under the green taxonomy framework would be launch green sukuk, a Shariah-compliant Islamic bond where the proceeds are used to finance or refinance green projects that contribute to environmental sustainability, such as renewable energy, infrastructure development, and biodiversity preservation.
“The second is some of the green sukuks that we have issued locally now through the ministry of finance and the State Bank,” he said. “
“And the last thing I just want to mention here is we are quite hopeful that during this calendar year, we can print the first, inaugural panda bond that is going to also be green in nature, because the proceeds of those bonds are going to be linked with the SDG [UN’s Sustainable Development Goals] projects. So a lot is happening in that space.”
A panda bond is a Chinese Yuan (RMB)-denominated bond issued by a non-Chinese entity within China’s domestic bond market. This type of bond allows foreign entities, including governments and corporations, to access Chinese capital markets and tap into the liquidity of the Chinese financial system. Essentially, it is a way for non-Chinese issuers to raise funds in China without having to go through the standard international bond issuance process.
Pakistan is highly vulnerable to climate change, experiencing significant impacts like rising temperatures, changing precipitation patterns, and increased extreme weather events. These changes threaten water, food, and energy security, impacting agriculture, coastal areas, and ecosystems, according to a report from the Ministry of Climate Change and Environmental Coordination. The country is also grappling with sea-level rise, glacial melting, and increased droughts.
EU-Pakistan Business Network to launch in May
- First high-level EU-Pakistan Business Forum to strengthen economic and business ties, unlock investment and trade to be held in May
- Pakistan is largest beneficiary of the EU’s GSP+ trade scheme, Pakistan businesses have increased exports to EU market by 108 percent since 2014
ISLAMABAD: The first high-level EU-Pakistan Business Forum (EU-PKBF), designed to strengthen economic and business ties and unlock investment and trade will be held in May, the EU press office said on Wednesday, adding that the platform would also mark the official launch of the EU-Pakistan Business Network.
Pakistan has become the largest beneficiary of the EU’s GSP+ trade scheme in recent years, with its businesses increasing their exports to the EU market by 108 percent since the launch of the trade scheme in 2014. In October 2023, the EU unanimously voted to extend GSP+ status until 2027 for developing countries, including Pakistan.
“The Forum will also mark the official launch of the EU-Pakistan Business Network, a dynamic initiative aimed at bringing together all EU businesses active in Pakistan allowing to channel their collective voice,” the EU said, saying the EU-PKBF would be held from May 14-15.
The forum will include business-to-government sessions with high-level government officials and offer business-to-business opportunities.
“Finally, in view of Pakistan benefiting from the EU’s Global Gateway offer: the EU’s largest investment program outside of the EU that aims to leverage 300 billion EUR of investment until 2027, the Forum will facilitate Business-2-Financial Institutions matchmaking and unveil new projects and investment opportunities.”
The business forum will see participation from high-level policymakers such as Prime Minister Shehbaz Sharif and the ministers of finance and commerce as well as EU and Pakistani business leaders and investors, who will get a “common space to exchange on opportunities and challenges of doing business in Pakistan, including in the sectors of textiles and apparel, agriculture and agri-business, pharmaceuticals and health care equipment, and renewable energy/connectivity.”
Pakistan reports 7th polio case of 2025 as two killed in attack on vaccine team
- Pakistan on Monday began a week-long anti-polio drive aimed at vaccinating over 45 million children
- Two security officials deployed to protect a polio team killed in gun attack in Mastung in Balochistan
PESHAWAR: Pakistan’s polio eradication program said on Wednesday a new case of the virus had been confirmed in the northwestern Khyber Pakhtunkhwa province, bringing the total count for 2025 to seven, as a nationwide campaign to inoculate millions of children continued.
Pakistan on Monday began a week-long drive aimed at vaccinating over 45 million children against polio. The country, which reported 74 polio cases in 2024, has planned three major vaccination campaigns in the first half of the year. This week’s drive is the second one for 2025 while a third will begin May 26.
“The Regional Reference Laboratory for Polio Eradication at the National Institute of Health Islamabad has confirmed a polio case from District Torghar, Khyber Pakhtunkhwa,” the lab said in a statement, saying this was the second case from KP this year and the seventh from across Pakistan.
Pakistan and neighboring Afghanistan are the last polio-endemic countries in the world. In the early 1990s, Pakistan reported around 20,000 cases annually but in 2018 the number dropped to eight cases. Six cases were reported in 2023 and only one in 2021.
But Pakistan’s polio program, launched in 1994, has faced persistent challenges including vaccine misinformation and resistance from some religious hard-liners who claim immunization is a foreign conspiracy to sterilize Muslim children or a guise for Western espionage.
Militant groups have also repeatedly targeted and killed polio vaccination workers, including last week when gunmen attacked a vehicle and abducted two polio workers in Khyber Pakhtunkhwa province. On Monday, one militant was killed when gunmen opened fire on a police party escorting a polio team on the outskirts of Wana, the main town in KP’s South Waziristan district.
On Wednesday, two security officials deployed to protect a polio vaccine team were killed in a gun attack in the Teri area of Mastung in the southwestern Balochistan province.
“Such incidents cannot diminish the resolve of the government of Pakistan to completely eradicate polio from the country,” Prime Minister Shehbaz Sharif said in a statement.
“The people should not be disappointed but should protect their future by administering polio drops to their children. The anti-polio campaign will continue with full vigor under any circumstances.”
