Pakistan PM ends ‘monumental’ Belarus visit as both sides sign defense, trade and environmental pacts

Pakistan PM ends ‘monumental’ Belarus visit as both sides sign defense, trade and environmental pacts
Prime Minister Shehbaz Sharif waves as he boards an airplane at the at Minsk International Airport on April 11, 2025. (PMO)
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Updated 11 April 2025
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Pakistan PM ends ‘monumental’ Belarus visit as both sides sign defense, trade and environmental pacts

Pakistan PM ends ‘monumental’ Belarus visit as both sides sign defense, trade and environmental pacts
  • Shehbaz Sharif says Belarus will welcome over 150,000 skilled Pakistani workers for ‘nation-building’
  • He also calls for a direct air link between both countries along with deeper mining and agricultural ties

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday concluded what he called a “monumental” two-day visit to Belarus, during which both countries signed a series of agreements and memorandums of understanding (MoUs) aimed at boosting cooperation in defense, commerce, environmental protection and other key sectors.

Sharif held talks with Belarusian President Aleksandr Lukashenko in Minsk to review bilateral ties, as delegation-level talks were also held between the two sides encompassing discussions on bilateral cooperation as well as regional and international issues.

According to state media, Pakistan and Belarus signed a cooperation accord between their interior ministries along with a roadmap for military-technical collaboration between 2025 and 2027.

Agreements were also inked on defense cooperation, environmental protection, postal services, trade development, business support and coordination between trade bodies, the Associated Press of Pakistan said.

“A monumental day in Pakistan-Belarus ties,” Sharif said in a post on social media while sharing details of his visit.

“Highlights of our talks included the agreement to send over 150,000 highly skilled Pakistani workers to contribute to nation-building efforts in Belarus; enhanced cooperation in agriculture and food security; and potential joint ventures in the manufacturing of electric buses and agricultural machinery — steps that will help transform our enduring bond of friendship into a lasting partnership.”

Pakistan has in recent months intensified efforts to expand economic cooperation with a number of countries in and around the region, aiming to leverage its location as a transit hub for trade and earn foreign exchange.

Addressing a ceremony in Minsk, Sharif said Belarus was a leader in equipment manufacturing for the mining sector and Pakistan stood to gain from closer industrial cooperation.

“There is no reason why we shouldn’t benefit from your experience,” he continued, pointing to Pakistan’s vast mineral resources.

He also emphasized the value of establishing a direct air link between the two countries and thanked Lukashenko for his willingness to welcome skilled Pakistani labor.

Sharif also spoke of strengthening Pakistan’s agriculture sector with mutual cooperation, saying 65 percent of the country’s population lived in rural areas.

“We need your expertise,” he said. “We need to have joint ventures between Belarus and Pakistani companies to manufacture agricultural equipment in Pakistan so we can offer to the farmers at very economical rates, both companies from Belarus and Pakistan, they will have win-win situation.”

In recent years, trade between Belarus and Pakistan has ranged from $50 to 65 million annually, though recent official visits have raised hopes for increased commercial exchange.

Later, Sharif met with Belarusian parliamentary leaders and agreed to deepen inter-legislative cooperation.

“Prime Minister Shehbaz Sharif has concluded his two-day official visit to Belarus and left for home,” the Government of Pakistan said in a social media post toward the end of the day. “He was seen off at Minsk International Airport by Prime Minister Alexander Turchin, Foreign Minister Maksim Ryzhenkov and officials of the Pakistani embassy.”


India and Pakistan urged to have ‘maximum restraint’ after Kashmir attack

India and Pakistan urged to have ‘maximum restraint’ after Kashmir attack
Updated 27 sec ago
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India and Pakistan urged to have ‘maximum restraint’ after Kashmir attack

India and Pakistan urged to have ‘maximum restraint’ after Kashmir attack
  • Relations have plunged to their lowest level in years after gunmen carried out the worst attack on civilians in Indian-administered Kashmir
  • Kashmir has been divided between India and Pakistan since independence in 1947, with both claiming the territory in full but governing in part

NEW DELHI: The United Nations urged India and Pakistan to show “maximum restraint” as the nuclear-armed rivals imposed tit-for-tat diplomatic measures over a deadly shooting in Kashmir.
Relations have plunged to their lowest level in years, with India accusing Pakistan of supporting “cross-border terrorism” after gunmen carried out the worst attack on civilians in contested Muslim-majority Kashmir for a quarter of a century.
“We very much appeal to both the governments... to exercise maximum restraint, and to ensure that the situation and the developments we’ve seen do not deteriorate any further,” UN spokesman Stephane Dujarric told reporters in New York on Thursday.
“Any issues between Pakistan and India, we believe, can be and should be resolved peacefully through meaningful mutual engagement.”
Indian Prime Minister Narendra Modi on Thursday vowed to hunt down the gunmen responsible for killing 26 civilians at the popular tourist site of Pahalgam, after Indian police identified two of the three fugitive gunmen as Pakistani.
“I say to the whole world: India will identify, track and punish every terrorist and their backer,” Modi said, in his first speech since Tuesday’s attack in the Himalayan region.
“We will pursue them to the ends of the Earth.”
Denying any involvement, Islamabad called attempts to link Pakistan to the Pahalgam attack “frivolous” and vowed to respond to any Indian action.
“Any threat to Pakistan’s sovereignty and to the security of its people will be met with firm reciprocal measures in all domains,” a Pakistani statement said, after Pakistan Prime Minister Shehbaz Sharif held a National Security Committee meeting with top military chiefs.
Kashmir has been divided between India and Pakistan since their independence in 1947, with both claiming the territory in full but governing separate portions of it.
Rebel groups have waged an insurgency in Indian-controlled Kashmir since 1989, demanding independence or a merger with Pakistan.
India’s air force and navy both carried out military exercises Thursday.
Indian police say the three gunmen are members of the Pakistan-based Lashkar-e-Taiba group, a UN-designated terrorist organization.
They offered a two million rupee ($23,500) bounty for information leading to each man’s arrest.
A day after the attack, New Delhi suspended a water-sharing treaty, announced the closure of the main land border crossing with Pakistan, downgraded diplomatic ties, and withdrew visas for Pakistanis.
In response, Islamabad on Thursday ordered the expulsion of Indian diplomats and military advisers, canceling visas for Indian nationals — with the exception of Sikh pilgrims — and closing the main border crossing from its side.
Pakistan also warned any attempt by India to stop the supply of water from the Indus River would be an “act of war.”
Pahalgam marks a dramatic shift in recent Kashmiri rebel attacks, which typically target Indian security forces.
Experts say that a military response may still be in the pipeline, with some speculating that it may come within days while others say weeks.
In 2019, a suicide attack killed 41 Indian troops in Kashmir and triggered Indian air strikes inside Pakistan, bringing the countries to the brink of all-out war.
“Whatever little land these terrorists have, it’s time to reduce it to dust,” Modi said on Thursday, after holding two minutes of silence in memory of those killed, all but one of whom was Indian.
India has taken its time to respond to past attacks.
The worst attack in recent years in Indian-run Kashmir was at Pulwama in 2019, when insurgents rammed a car packed with explosives into a police convoy, killing 40 and wounding 35.
Indian fighter jets carried out air strikes on Pakistani territory 12 days later.
Tuesday’s assault occurred as tourists enjoyed tranquil mountain views at the popular site at Pahalgam, when gunmen burst out of forests and raked crowds with automatic weapons.
Survivors told Indian media the gunmen targeted men and spared those who could give the Islamic declaration of faith.
Indian security forces have launched a vast manhunt for the attackers, with large numbers of people detained.
The attack has enraged Hindu nationalist groups, and students from Kashmir at institutions across India have reported experiencing harassment and intimidation.


Pakistan seeks ADB’s credit guarantee for yuan-denominated Panda bond issue

Pakistan seeks ADB’s credit guarantee for yuan-denominated Panda bond issue
Updated 21 min 30 sec ago
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Pakistan seeks ADB’s credit guarantee for yuan-denominated Panda bond issue

Pakistan seeks ADB’s credit guarantee for yuan-denominated Panda bond issue
  • The development follows upgrades in Pakistan’s sovereign ratings by major credit rating agencies
  • Islamabad plans to launch yuan-denominated Panda bonds in June to raise roughly $200 million

KARACHI: Pakistan has sought support of the Asian Development Bank (ADB) for the issuance of its yuan-denominated Panda bond, the Pakistani finance ministry said on Thursday.
The statement came after Pakistan Finance Minister Muhammad Aurangzeb’s meeting with ADB President Masato Kanda in Washington D.C., wherein the two sides discussed their Country Partnership Strategy 2026-2030 and budgetary support.
Pakistan plans to launch yuan-denominated Panda bonds in June to enhance its presence in Chinese capital markets and raise approximately $200 million from Chinese investors, following upgrades in its sovereign ratings by major credit agencies.
Islamabad is being advised on the issuance of Panda bonds by the China International Capital Corporation, a partially state-owned financial services company. However, the latest figure shared in Jan. is lower than the $300 million targeted by Pakistan last year.
“The minister requested ADB’s support for a partial credit guarantee for the issuance of Pakistan’s Panda bond,” the Pakistani finance ministry said.
The development comes more than a week after global ratings agency Fitch upgraded Pakistan’s foreign currency credit rating to ‘B-’ from ‘CCC+’, citing increased confidence in the country’s progress on narrowing its budget deficits.
The upgrade also reflects confidence that the country would implement structural reforms, supporting its International Monetary Fund (IMF) program performance and funding availability, according to Fitch.
Pakistan’s economy had been teetering on the brink of default ever since inflation rose to a record high in May 2023 and reserves started shrinking, but has seen some respite thanks in part to a $7 billion bailout program from the IMF.
Aurangzeb and the ADB president also discussed the Bank’s Country Partnership Strategy 2026-2030 for Pakistan and agreed to fast-track the project’s execution, according to the Pakistani finance ministry.
“He also expressed hope that budgetary support from ADB would materialize this year and assured the participation of Pakistan’s delegation in the CAREC (Central Asia Regional Economic Cooperation Program) meeting scheduled for November 2025,” it added.
Pakistan is a founding member of the ADB. Since 1966, the bank has committed over $52 billion in public and private sector loans, grants, and other forms of financing to promote inclusive economic growth in Pakistan and improve the country’s infrastructure, energy and food security, transport networks, and social services.


Pakistan says inflation likely to remain between 1.5-2 percent in April

Pakistan says inflation likely to remain between 1.5-2 percent in April
Updated 25 April 2025
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Pakistan says inflation likely to remain between 1.5-2 percent in April

Pakistan says inflation likely to remain between 1.5-2 percent in April
  • Pakistan’s inflation rate fell to 1.5 percent in February after central bank’s aggressive policy rate cuts
  • Exports, remittances expected to maintain upward trend in the coming months, says Finance Division

ISLAMABAD: The rate of inflation in Pakistan is likely to remain between 1.5 to 2 percent in April, the government’s Finance Division said on Thursday in its monthly economic outlook, stating that the country’s macroeconomic indicators have shown “signs of overall stabilization.”

Pakistan’s economy has improved in recent months, supported by declining inflation which fell to 1.5 percent in February. The central bank has reduced its policy rate to 12 percent after a series of cuts totaling 1,000 basis points since June 2024.

In its outlook for the month of April, the Finance Division said inflation has reduced to its “lowest level,” creating space for a more supportive monetary policy in upcoming months.

“Inflation is projected to remain between 1.5-2.0 percent in April, with a possible rise to 3.0-4.0 percent by May 2025,” the report said. 

The report said that Consumer Price Index (CPI) inflation eased to 0.7 percent year-on-year in March 2025, down from 1.5 percent in February and 20.7 percent in March 2024. Month-on-month, it rose by 0.9 percent, following a 0.8 percent decline in February and a 1.7 percent increase in March 2024.

The monthly outlook report also noted that the current account registered a higher surplus, driven by remittances and export growth, while reserves improved and the exchange rate remained stable. 

“Revenue mobilization and restrained current spending have contributed to a narrower fiscal deficit and a surplus primary balance,” it said. 

The report also noted improvements in high-frequency indicators, such as rising automobile output, raw material imports and a more “accommodative monetary stance.”

“Improved weather conditions and increased water availability are likely to support higher crop yields and better farming conditions contributing to overall economic growth,” it said. 

The report also said exports and remittances are expected to maintain their upward trend in the coming months, keeping the current account within a “manageable range.”


PSL X: Babar’s 50 helps Peshawar Zalmi cruise to 7-wicket win over Lahore Qalandars

PSL X: Babar’s 50 helps Peshawar Zalmi cruise to 7-wicket win over Lahore Qalandars
Updated 24 April 2025
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PSL X: Babar’s 50 helps Peshawar Zalmi cruise to 7-wicket win over Lahore Qalandars

PSL X: Babar’s 50 helps Peshawar Zalmi cruise to 7-wicket win over Lahore Qalandars
  • Babar Azam scores unbeaten 56 runs from 42 balls while Hussain Talat smashes 51 runs
  • With two wins under their belt, Zalmi next face Quetta Gladiators on Sunday, April 27

ISLAMABAD: Spurred on by a stellar half-century by skipper Babar Azam, Peshawar Zalmi beat Lahore Qalandars by seven wickets to register their second victory of the HBL Pakistan Super League (PSL) X edition in Lahore on Thursday. 
Zalmi were set a modest total of 130 runs after Azam’s side bowled out the Qalandars for a modest 129 runs in 19.2 overs. Alzarri Joseph was the pick of the Zalmi bowlers with 3/15 figures while Luke Wood and Hussain Talat returned figures of 2/25 and 2/18, respectively.
The “Yellow Storm” ran into difficult earlier on during their chase, losing opener Saim Ayub for just 2 runs while star batter Tom Kohler-Cadmore fell for a duck. Azam kept his cool, scoring 56 runs from 42 balls and building partnerships with Mohammad Haris (20 off 16) and Hussain Talat (51 off 37) to see his team to the end.
“Not an ideal start for our home leg,” the Qalandars wrote on social media platform X. “Overwhelmed with the support of our home crowd, we will come back stronger!“


Qalandars skipper Shaheen Shah Afridi found his form with the ball, clocking in speeds of over 140 kilometers per hour frequently. The left-arm pacer was able to return figures of 2/22 from his four overs while speedster Haris Rauf finished with figures of 1/39 from 3.4 overs. 
Zalmi now have two wins from five matches in the HBL PSL 10 edition so far, beating the Multan Sultans by 120 runs earlier in the tournament to register the largest win in PSL history. They are now placed at number four on the PSL points table, tied with four points with Lahore Qalandars. 
Azam’s side will next take on Quetta Gladiators in the tournament on Apr. 27.


Sindh CM, Islamic Development Bank discuss housing, women empowerment projects

Sindh CM, Islamic Development Bank discuss housing, women empowerment projects
Updated 24 April 2025
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Sindh CM, Islamic Development Bank discuss housing, women empowerment projects

Sindh CM, Islamic Development Bank discuss housing, women empowerment projects
  • IsDB is financing $200 million for reconstruction of houses for those affected by catastrophic 2022 floods
  • Bank agrees to provide more support for water, sanitation, and hygiene projects in Sindh, says state media

ISLAMABAD: The chief minister of Pakistan’s southern Sindh province discussed housing for flood affectees and women empowerment projects with a high-level delegation of the Islamic Development Bank (IsDB), state-run media reported on Thursday.
The IsDB is financing $200 million for the reconstruction of houses for those affected by the catastrophic 2022 floods. Torrential rains and melting glaciers triggered flash floods across the country that killed over 1,700 people and caused damages worth $33 billion, according to Pakistan’s estimates.
Sindh Chief Minister Syed Murad Ali Shah met an IsDB delegation led by its Regional Director, Dr. Walid Abdelwahab, to discuss the Sindh Flood Emergency Housing Reconstruction Project (SFEHRP) and the Sindh Integrated Health and Women Empowerment Project. Both projects involve collaboration with the World Bank, the state-run Associated Press of Pakistan (APP) said.
“The chief minister welcomed Dr. Abdelwahab and expressed gratitude for the IsDB’s support in rebuilding homes for the flood-affected population,” APP reported.
Shah said the Sindh government, in partnership with international collaborators and NGOs, is actively implementing Water, Sanitation, and Hygiene (WASH) projects in various districts to improve public health, particularly in flood-affected and underserved communities.
“In response to the chief minister’s request, the IsDB agreed to provide additional support for the WASH project,” the report said.
Shah stressed that the SFEHRP and WASH projects have been designed to enable owner-driven, multi-hazard-resilient reconstruction of core housing units following the 2022 floods.
The Sindh Integrated Health and Women Empowerment Project is a $280 million initiative that includes financing of $50 million from the IsDB, $30 million from the Sindh government, and $200 million from foreign fund assistance (FFA).
Shah explained that the project aims to enhance the utilization and quality of reproductive, maternal, newborn, child, adolescent, and nutrition (RMNCAH+N) services for poor and vulnerable populations, particularly adolescents and women, in targeted areas of the province.
“The process to hire a third-party firm to oversee the skill development of 6,000 eligible women has begun in consultation with the IsDB,” the APP said.
As part of the program, 124 government dispensaries will be rehabilitated and upgraded, with diagnostic and preliminary design reports already completed, the state-run media said.