US seeks investment in Pakistan’s vast mineral reserves during top official’s visit

Pakistan Prime Minister Shehbaz Sharif in a meeting with a US delegation led by Eric Meyer (2nd right), senior Bureau Official for the State Department’s Bureau of South and Central Asian Affairs, in Islamabad on April 9, 2025. (Photo courtesy: PMO)
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Updated 10 April 2025
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US seeks investment in Pakistan’s vast mineral reserves during top official’s visit

  • Senior State Department official Eric Meyer was in Islamabad to attend international minerals summit
  • Despite rich reserves of salt, copper, gold and coal, Pakistan’s mineral sector contributes only 3.2 percent to GDP

ISLAMABAD: A senior US official has expressed interest in enhancing cooperation with Pakistan in the minerals sector, citing President Donald Trump’s vision of securing rare materials as a “strategic priority” that could benefit both countries, the US Embassy said on Wednesday.

The mission released the statement after Eric Meyer, a senior official from the US Department of State’s Bureau of South and Central Asian Affairs, attended an international minerals summit in Islamabad aimed at attracting foreign investment in the country’s mining sector. Apart from gold and copper, Pakistan is also rich in lithium used to make batteries, as well as other minerals.

The summit has drawn participation from major international companies, including Canada-based Barrick Gold, as well as government officials from the United States, Saudi Arabia, China, Turkiye, the United Kingdom, Turkiye, Azerbaijan, and other nations.

“President Trump has made it clear that securing diverse and reliable sources of these materials is a strategic priority,” the US Embassy quoted Meyer as saying. “Pakistan’s vast mineral potential — if responsibly and transparently developed — can benefit both our countries.” 

Despite rich reserves of salt, copper, gold and coal, Pakistan’s mineral sector contributes only 3.2 percent to GDP and 0.1 percent to global exports. The country is now aiming to tap into this underutilized potential. 

Pakistan is home to one of the world’s largest porphyry copper-gold mineral zones, while the Reko Diq mine in southwestern Balochistan has an estimated 5.9 billion tons of ore. 

Barrick Gold, which owns a 50 percent stake in the Reko Diq mines, considers them one of the world’s largest underdeveloped copper-gold areas, and their development is expected to have a significant impact on Pakistan’s struggling economy.

However, Balochistan is plagued by a decades-long insurgency, with ethnic Baloch separatists opposing any foreign investment which they say is an attempt by Islamabad to solidify its hold through external players on their regional resources.

They have been fighting for decades for a greater share of local resources, but some of their armed groups now say they will not settle for anything less than a separate homeland. 

One of the largest insurgent groups, the Baloch Liberation Army, claimed responsibility for the train hijacking, which resulted in the deaths of 23 soldiers, three railway employees and five passengers. At least 33 insurgents were also killed.

Addressing the minerals summit on Tuesday, Pakistan Army Chief Asim Munir said the military would “ensure a robust security framework, proactive measures to protect the interests and trust of partners and investors.” 

“You can count on Pakistan as a reliable partner.”


US vice president hopes Kashmir attack won’t spark wider conflict

Updated 02 May 2025
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US vice president hopes Kashmir attack won’t spark wider conflict

  • JD Vance says Pakistan should deal with militants that ‘sometimes operate’ in its territory
  • US has expressed support for India after the April 22 attack without directly blaming Pakistan

WASHINGTON: US Vice President JD Vance said on Thursday Washington hoped Pakistan would cooperate with India to hunt down Pakistan-based militants, and that India’s response to the recent Islamist militant attack in India-administered Kashmir does not lead to a broader regional conflict.
“Our hope here is that India responds to this terrorist attack in a way that doesn’t lead to a broader regional conflict,” Vance said in an interview on Fox News’ “Special Report with Bret Baier” show.
“And we hope, frankly, that Pakistan, to the extent that they’re responsible, cooperates with India to make sure that the terrorists sometimes operating in their territory are hunted down and dealt with,” Vance added.
Vance’s comments are the closest the US government has come since the April 22 attack — in which 26 people were killed — to potentially linking Pakistan to extremism in India.
Top US leaders, including President Donald Trump, have condemned the attack, calling it “terror” and “unconscionable,” while expressing support for India without directly blaming Pakistan.
India is an important US partner as Washington aims to counter China’s rising influence. Pakistan remains Washington’s ally even as its importance diminished after the 2021 US withdrawal from neighboring Afghanistan.
In recent days, Washington urged India and Pakistan to work with each other to de-escalate tensions and arrive at a “responsible solution.”
India has blamed Pakistan for the attack. Islamabad denies responsibility and is calling for a neutral probe.
The US State Department has said it was in touch with the nuclear-armed Asian neighbors at multiple levels and Secretary of State Marco Rubio held calls on Wednesday with Indian Foreign Minister Subrahmanyam Jaishankar and Pakistani Prime Minister Shehbaz Sharif.
Hindu nationalist Indian Prime Minister Narendra Modi vowed to punish those responsible and Jaishankar has told Rubio that the perpetrators should be brought to justice. Pakistan says military action by India was imminent.
Muslim-majority Kashmir is claimed in full by both Hindu-majority India and Islamic Pakistan, with each controlling only part of it and having fought wars over it.
After the attack, India suspended a treaty regulating water-sharing, and both countries closed airspace to each other’s airlines. They also exchanged fire across their border.


Pakistan seeks Saudi, UAE and Kuwaiti mediation to de-escalate tensions with India

Updated 41 min 58 sec ago
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Pakistan seeks Saudi, UAE and Kuwaiti mediation to de-escalate tensions with India

  • PM Sharif says it’s inconceivable Pakistan will jeopardize its achievements by backing militant attacks
  • He maintains that his country will never take any action that could ‘imperil regional peace and security’

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday sought the assistance of Saudi Arabia, the United Arab Emirates (UAE) and Kuwait in de-escalating tensions with India over an attack that killed 26 tourists in the disputed Kashmir region, his office said.
New Delhi has accused Pakistan of backing one of the deadliest attacks in Indian-administered Kashmir in decades, though Islamabad has denied the allegation and suggested a neutral and credible international probe. The two nuclear-armed neighbors have also exchanged gunfire, traded diplomatic barbs, expelled each other’s citizens and closed their border as part of a series of punitive and reciprocal measures.
Sharif met with Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki, UAE Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi and Kuwaiti Ambassador Nasser Abdulrahman Jasser during the day amid growing concerns of a wider regional conflict following potential Indian actions in response to the Pahalgam attack.
Sharif shared Pakistan’s perspective on recent developments in South Asia following the Kashmir incident, highlighting that his country has made significant sacrifices in its counter-terrorism efforts over the years, not only to safeguard itself but also to contribute to global security. He also rejected the “baseless Indian accusations” linking Islamabad to the April 22 attack.
“The prime minister said it was inconceivable for Pakistan to act in an irresponsible manner to jeopardize its achievements and derail the country from the path of economic progress,” the PM Office said in a statement. “He urged brotherly countries, including Saudi Arabia, to impress upon India to de-escalate and defuse tensions. He reaffirmed Pakistan’s desire for peace and stability in South Asia.”
During his conversation with the Middle Eastern envoys, the Pakistan premier reiterated his call for a transparent and neutral international investigation into the April 22 incident.

Pakistan Prime Minister Shehbaz Sharif meets UAE Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi at the Prime Minister Office in Islamabad on May 2, 2025. (Photo courtesy: Handout/PMO)

He highlighted how Pakistan has been the biggest victim of militant violence and suffered 90,000 casualties with over $152 billion in economic losses.
Sharif said Pakistan would never take any action that could “imperil regional peace and security,” highlighting that his government was focused on consolidating the hard-earned economic gains of the past fifteen months that were achieved with the support of friendly countries like Saudi Arabia and the UAE.

PM Sharif meets Kuwaiti ambassador, Nasser Abdulrahman Jasser, at the Prime Minister Office in Islamabad on May 2, 2025. (Photo courtesy: Handout/PMO)

The Saudi, UAE and Kuwaiti ambassadors thanked Sharif for sharing Pakistan’s stance and reaffirmed their support for maintaining regional peace and security, the PM Office added.
Since last week, top Pakistani leaders have also reached out to senior officials in China, Iran, Egypt and other countries regarding the recent South Asian developments.
The disputed Himalayan region of Kashmir is split between India and Pakistan and claimed by both in its entirety. The two countries have fought two wars and one limited conflict over the territory.
The United Nations has urged the two arch-rivals to talk to each other, while China, which shares a border with both India and Pakistan, and other countries have called on both sides to “exercise restraint.”


Pakistan stocks rebound as investor confidence steadies amid calls to ease India tensions

Updated 02 May 2025
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Pakistan stocks rebound as investor confidence steadies amid calls to ease India tensions

  • Tensions with India flared after New Delhi accused Pakistan of backing the April 22 Kashmir attack that killed 26
  • Analysts say weekend diplomacy and regional signals will determine if Friday’s market gains hold next week

ISLAMABAD: The Pakistan Stock Exchange (PSX) bounced back strongly on Friday as investor confidence returned amid calls from the United States and the United Nations for de-escalation of India-Pakistan tensions over Kashmir, traders and analysts said, with the market gaining more than 2,500 points during the intraday trade.
Relations between the neighbors have plummeted after India accused Pakistan of backing an attack in Kashmir that killed 26 tourists on April 22. Islamabad denies the accusation.
The benchmark KSE-100 index gained 2,787.36 points, or 2.5 percent and closed at 114,113.93 on Friday, compared to the previous day’s close of 111,326.57 points.
Stock analysts attributed the bullish sentiment to calls from the UN, US and other countries to de-escalate tensions between the two countries and offers to mediate the crisis.
“Stocks showed sharp recovery after the US and the UN urged Pakistan and India to defuse tensions,” Ahsan Mehanti, CEO of Arif Habib Group, told Arab News.
“Reports of 0.3 percent year-on-year Consumer Price Index (CPI) inflation for April 25 likely to further ease SBP [State Bank of Pakistan] policy and expected receipt of IMF tranche [of $1 billion] this month played catalyst role in record bullish activity at PSX.”
Pakistan is currently navigating an economic recovery program under a $7 billion International Monetary Fund (IMF) program.
But tensions with India over Kashmir saw the Pakistani stock market shedding over 3,500 points on Wednesday. The US State Department said it was in contact with India and Pakistan, while State Secretary Marco Rubio on Wednesday held telephonic conversations with Prime Minister Shehbaz Sharif and Indian Foreign Minister Subrahmanyam Jaishankar in a bid to ease tensions.
The UN has urged the arch-rivals to talk, while China, which shares its border with both India and Pakistan, this week repeated its call on both sides to “exercise restraint.”
Saudi Arabia has said Riyadh is trying to “prevent an escalation,” while Iran has offered to mediate the crisis.
“The developments over the weekend are likely to be closely watched and will dictate whether today’s bounce spills over into next week also,” Raza Jafri, head of research at Intermarket Securities, told Arab News.


Pakistan foils bid to smuggle donkey hides worth Rs80 million to China

Updated 02 May 2025
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Pakistan foils bid to smuggle donkey hides worth Rs80 million to China

  • Pakistan is frequently listed as one of the countries with highest number of donkey populations worldwide
  • The animal’s meat and hide, used in the Ejiao traditional medicinal remedy, are quite popular in China

KARACHI: Pakistan Customs has foiled an attempt to smuggle donkey hides, worth around Rs80 million ($283,862), to China, a customs spokesperson said on Friday.
The staff deployed on the Risk Management Profiling System of the Karachi customs collectorate detected a container number SEGU-3154225 cleared from the South Asia Pakistan Port (SAPT) terminal in Karachi, whose export documents showed 285 packages of leather products were being sent to China by Messrs. Wow Trading.
The container was allowed to be loaded on a ship after the export collectorate issued a permit, but customs authorities conducted a detailed inspection after being informed by the Anti-Smuggling Organization (ASO) staff and found the prohibited donkey hides in the container.
“[The inspection] resulted in the recovery of 14,000 kilograms of prohibited donkey hides, declared under the guise of leather products, in the container, the export of which is prohibited under the export policy of the Government of Pakistan,” Irfan Ali, a customs spokesperson, said in a statement.
“A case has been registered against the exporter under the relevant provisions of the Customs Act. Further investigation is underway.”
Pakistan is frequently listed as one of the countries with the highest number of donkey populations worldwide, with Islamabad reporting its donkey population had increased to 5.9 million during the fiscal year 2023-24 from 5.5 million in 2019-2020, according to the Pakistan Economic Survey (PES) 2023-24.
The animal’s meat and hides are quite popular in China. Gelatin derived from donkey hides is highly sought after in China for its use in Ejiao, a traditional medicinal remedy. Several Chinese eateries sell donkey meat and burgers for consumption.
The seizure of donkey hides comes amid a Pakistani government crackdown on smuggling of various goods.
“Karachi Customs Enforcement Collector Moinuddin Wani appreciated and praised the performance of the officers and staff of the enforcement collectorate for this successful operation,” Ali added.


Threat of war with India empties scenic Pakistani valley of summer tourists

Updated 02 May 2025
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Threat of war with India empties scenic Pakistani valley of summer tourists

  • Gunmen last week killed 26 people in the Indian-administered Kashmir’s resort town of Pahalgam
  • The attack has fueled tensions after India blamed Pakistan for the attack, Islamabad denies charge

MUZAFFARABAD: Neelum Valley in northern Pakistan attracts some 300,000 tourists each summer who marvel at its natural beauty. But the threat of war with nearby India has emptied its hotels.
Gunmen last week killed 26 people in the Indian-administered Kashmir’s resort town of Pahalgam, fueling tensions between the nuclear-armed nations after India blamed Pakistan for the attack, a charge Pakistan denies.
Neelum Valley is less than 3 kilometers (1.8 miles) from the Line of Control, the de facto border that divides the disputed region of Kashmir, making it vulnerable to any military activity.
Hotel owner Rafaqat Hussain said Thursday the crisis has hit the tourism industry hard.
“Most tourists have left and returned to their cities because there is a risk of war,” he said.
Authorities in the Indian-controlled part of Kashmir temporarily shuttered dozens of tourist resorts following the attack as a precaution.
No such order has come from Pakistani authorities. Bazaars in the Pakistani border town of Chakothi were open for business, although people were concerned.
“First of all, our prayer is for peace, as war always affects civilians first,” shop owner Bashir Mughal told The Associated Press, saying he would fight alongside the army in the event of conflict.
Pakistan used to help residents build bunkers near their homes during periods of intense cross-border firing. But the population has grown and some homes lack shelters.
“Local casualties could be devastating if war breaks out,” Mughal warned.
Saiqa Naseer, also from Chakothi, shuddered at the childhood memories of frequent firing across the border.
“Now, as a mother, I find myself facing the same fears,” she said.
She remembered Indian shells striking the picturesque valley when the two countries came close to war in 2019. She has a bunker at her home.
“If war comes, we will stay here. We won’t run away,” she said.