ISLAMABAD: Pakistan Privatization and Communications Minister Abdul Aleem Khan stressed launching direct flights to Belarus and enhancing trade with the eastern European country, state-run media reported this week, as its president arrived in Islamabad for a three-day trip to hold talks on bilateral trade and investment.
Belarus President Aleksandr Lukashenko arrived in Pakistan on Monday following the arrival of his 68-member delegation, as Islamabad pushes for foreign investment from allies old and new in a bid to shore up its $350 billion economy while navigating a tough reforms agenda mandated by the IMF.
Khan met Belarusian Transport Minister Alexei Lyakhnovich with senior communication in the presence of sector officials from both countries on Monday to discuss the importance of enhancing connectivity through roads and railways, the Associated Press of Pakistan said.
“Federal Minister for Communications, Privatization and Board of Investment Abdul Aleem Khan on Monday emphasized Pakistan’s commitment to enhancing connectivity through the launch of direct flights to Moscow and Belarus, alongside the development of trade corridors linking China, Afghanistan, Central Asia, and Belarus,” the APP reported.
The Belarusian transport minister described cross-border trade as “pivotal” for strengthening the economy and promoting bilateral relations, adding it was a significant step toward collaboration between both countries.
The pending construction of different motorways and highways also came under discussion with both sides agreeing to take steps in this regard, APP said.
Emphasizing the communication sector’s importance, Khan said Pakistan wanted a trade corridor to Central Asia along the Karakoram Highway and China-Pakistan Economic Corridor lines to promote business activities.
“We want to further enhance G2G and B2B activities with Belarus in the future for which both the countries will make serious efforts,” Khan said.
“Like Azerbaijan and Turkiye, we also want to make Belarus an investment partner with our country as Pakistan is rich in natural resources and blessings of Allah Almighty while positive results can be achieved with our skilled workforce.”
On Tuesday, Lukashenko arrived at the Prime Minister House where he was welcomed by PM Shehbaz Sharif and presented with a guard of honor.
Pakistan and Belarus, the world’s 74th-largest economy by GDP, celebrated thirty years of the establishment of diplomatic relations this year. Pakistan was one of the first countries to recognize Belarus after the dissolution of the Soviet Union in 1991 and maintained an embassy in Minsk.
The prime minister of Belarus was in Islamabad earlier this year where he met his counterpart as well as the chief of the Pakistan army, among other key leaders.
In September, Pakistan and Belarus discussed different options for a joint venture to establish a tractor plant in the country and reached a consensus on collaborating on a foot-and-mouth disease vaccine to protect cattle, as well as on the capacity building of agricultural engineers in machinery design.
They also agreed to enhance cooperation in the sectors of livestock and seeds and work together on the mechanization of agriculture and on increasing market access for agricultural and livestock products. Belarus also wants to set up a veterinary medicine plant in Pakistan.
The First Pakistan-Belarus Joint Economic Commission (JEC) was held in 2015 in which the two countries agreed to initiate joint ventures in the textile, pharmaceutical and lighting solution industries and share technological expertise.
In recent months, there has been a flurry of visits, investment talks and economic activity between Pakistan and Central Asian states, including meetings with leaders from Uzbekistan and Azerbaijan.
Pakistan eyes enhanced trade and connectivity with Belarus amid investment push
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Pakistan eyes enhanced trade and connectivity with Belarus amid investment push
- Belarus President Aleksandr Lukashenko is in Pakistan on three-day visit for investment, trade talks
- Islamabad is pushing for foreign investment from allies in a bid to shore up $350 billion economy
Pakistan stocks soar to record high amid budget buzz, IMF tranche
- Pakistan this week received second tranche of special drawing rights worth $1,023 million from IMF under EFF program
- Pakistan’s federal budget for next fiscal year to be finalized within next four weeks, budget talks with IMF from May 14-23
ISLAMABAD: Bulls took charge of the local bourse today, Thursday, as the Pakistan Stock Exchange surged to new heights, fueled by optimism surrounding upcoming budget announcements and the release of a $1 billion tranche by the IMF, analysts said.
Pakistan on Wednesday received the second tranche of special drawing rights worth 760 million ($1,023 million) from the IMF under an extended fund facility (EFF) program. The IMF last week approved a fresh $1.4 billion loan to Pakistan under its climate resilience fund and also approved the first review of its $7 billion program, freeing about $1 billion in cash.
Pakistan’s federal budget for the next fiscal year, starting July, will be finalized within the next four weeks, with scheduled budget talks with the IMF to take place from May 14-23, according to the finance ministry.
The benchmark index witnessed a remarkable intraday rally, climbing as much as 1,453 points before closing with an impressive gain of 1,425 points at 119,961, marking a 1.20% increase and setting a new all-time high.
“Refinery stocks ended the day in the green amid sector-specific developments,” brokerage house Topline Securities said in a daily market review.
“The government is working to finalize a binding legal framework between oil marketing companies and refineries, with key clauses like take-or-pay aimed at resolving ongoing disputes over product upliftment and HSD imports — a move expected to bring greater clarity and stability to the supply chain.”
Market participation also picked up, with total traded volume reaching 695 million shares and a traded value of Rs39.01 billion. Pakistan Refinery Limited topped the volume chart with 50.8 million shares traded.
Samiullah Tariq, head of research and development at Pak Kuwait Investment Company Ltd, said the market was positive due to recent inflows from the IMF, noting the “expectations of further inflows on the back of the IMF Board approval.”
Thursday’s bullish momentum also comes as the market continues to recover from upheaval brought by the most intense military row between Pakistan and India in years last week. The two nuclear-armed nations agreed to a US-brokered ceasefire on Saturday.
Imran Khan spokesman rejects Pakistan media report party accepted PM’s offer for talks
- News report claims Khan instructed party’s chairman to hold talks with government in private for “meaningful outcomes”
- Khan aide Sayed Zulfikar Bokhari describes report as “fake news,” says government did not make any offer for talks
KARACHI: Former premier Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party spokesperson on Thursday rejected a news report that claimed he had given the green signal for fresh negotiations with the government, describing it as “fake news.”
Pakistani English language newspaper “The News” reported on Thursday that Khan had accepted Prime Minister Shehbaz Sharif’s offer to hold negotiations and instructed the party’s chairman, Gohar Ali Khan, to proceed with talks. The report said Khan had expressed “a strong preference” that the talks be conducted away from the TV cameras to ensure “meaningful outcomes.”
The PTI and the Pakistan Muslim League-Nawaz (PML-N) government have been at loggerheads ever since Khan was ousted from the prime minister’s office via a parliamentary vote in April 2022. The former premier has been in jail since August 2023 on a slew of charges he says are politically motivated. His party has led anti-government protests and marches that have led to clashes with law enforcement personnel.
“There is no such statement made by Imran Khan,” Sayed Zulfikar Bokhari, Khan’s adviser on international affairs and a former federal minister, told Arab News. “It is fake news. Neither has any offer been made to sit with Shehbaz Sharif or vice versa.”
Meanwhile, Gohar declined to comment on the development. Information Minister Attaullah Tarar and the government’s legal spokesperson, Aqeel Malik, did not respond to Arab News’ request for a comment.
Attempts to break the political deadlock in the country via a dialogue between the PTI and the government began in December 2024. However, talks collapsed after the PTI in January presented its demands, which included the formation of judicial commissions to probe the party’s anti-government protests in May 2023 and November 2024.
The violent protest rallies, including the one on May 9, 2023, saw people carrying PTI flags rampage through military offices and installations. A second anti-government protest in November 2024 was held by the party to demand Khan’s release from prison. The government says four troops were killed in clashes with Khan supporters. The PTI denies the charges and claimed its supporters were shot by law enforcers.
The PTI gave the government seven days to form the judicial commissions, after the expiry of which the party unilaterally withdrew from talks in January.
Pakistan says ceasefire with India extended till May 18, Trump says both ‘very happy’
- Deputy PM Ishaq Dar says Pakistan seeks “composite dialogue” with India to resolve outstanding issues
- Speaking to troops during Gulf tour, Trump said on Thursday hostilities between Pakistan and India were “settled”
ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar said on Thursday the militaries of India and Pakistan had agreed to extend last week’s ceasefire till Sunday, May 18, while President Donald Trump said both nations were “very happy” with the truce brokered by his administration last week.
Pakistan and India agreed to a ceasefire on Saturday after four days of the worst fighting since 1999 between the two nuclear-armed neighbors, who attacked each other with missiles, drones, fighter jets, and artillery fire. Tensions began when India alleged Pakistan was involved in an attack in Indian-administered Kashmir that killed 26 tourists last month. Islamabad denied involvement and called for an international probe into the incident.
Tensions came to a head last Wednesday when India fired missiles into Pakistan, claiming it had struck “terrorist camps.” Pakistan said civilians had been killed and vowed retribution, saying it had downed five Indian jets. The worst of the fighting happened on Saturday when India attacked Pakistani air bases and Pakistan launched retaliatory strikes on military facilities and storage units. As the conflict spiraled alarmingly, US President Trump announced Washington had brokered a ceasefire on Saturday.
The fragile ceasefire has been holding so far with only reports of a few violations on the first day.
“Now it [ceasefire] has been extended till [May] 18, so obviously, now ultimately, things will go to the dialogue,” Dar said in televised comments to parliament. “For now, these are military-to-military communications, so obviously, then political dialogue will take place. The resolution of all issues lies there.”
Dar said the two nations needed to re-engage in a composite dialogue, which was a structured process initiated in 1997 to address a wide range of bilateral concerns, including peace and security, Kashmir, water, and economic cooperation.
As tensions surged between India and Pakistan last month, both announced a raft of punitive measures against each other, including New Delhi unilaterally suspending the 1960 Indus Waters treaty, which governs the sharing of river waters.
India’s foreign minister said on Thursday the treaty with Pakistan would remain suspended until Islamabad ends “cross-border terrorism.”
“For us, this is a no-go area,” Dar told lawmakers. “We had announced it on April 24 as well that it [treaty suspension] will be treated as an act of war.”
India and Pakistan, both bitter rivals who possess nuclear weapons, have fought three wars since 1947 after gaining independence from British colonial India. The root cause of their conflict is the disputed Himalayan Kashmir region, which they both claim in full but administer only parts of.
Speaking to troops at a base in Qatar during a Middle East tour, Trump said on Thursday hostilities between Pakistan and India were settled.
“And Pakistan was very happy with that [ceasefire] and India was very happy with that and I think they’re on the way,” Trump said.
“We got that settled where everybody was very happy. I’ll tell you that it looked like it was really going to be escalating out of control.”
Pakistan says US decision to lift Syria sanctions ‘pivotal step’ for regional stability
- US President Donald Trump this week announced lifting Syria sanctions “to give them a chance at greatness”
ISLAMABAD: Pakistan’s foreign office on Thursday welcomed US President Donald Trump’s decision to lift sanctions on Syria, describing the decision as a “pivotal step” toward regional stability and the country’s economic recovery.
In a speech given in Riyadh amidst Trump’s trip to the Middle East this week, the US president said he “will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness.”
The surprise announcement marked a significant shift in Washington’s policy toward Syria, where sanctions targeted ousted President Bashar Assad’s government during several years of war. US imposed the sanctions on Syria over its alleged crackdown on dissent and reported human rights abuses.
“Pakistan welcomes the United States’ decision to lift sanctions from Syria, marking a pivotal step toward regional stability and economic recovery,” the Ministry of Foreign Affairs (MoFA) said in a statement.
The foreign office said Islamabad has consistently advocated for constructive engagement and dialogue. It added that the easing of sanctions is expected to facilitate economic growth, improve access to essential services and support the rebuilding efforts of the Syrian authorities.
“We commend the commitment of all countries, in particular the US, Turkiye, Saudi Arabia, and Qatar, working constructively toward a peaceful Syria,” it added.
The foreign office said Islamabad supports a Syrian-led and Syrian-owned resolution, and remains steadfast in its support for the country’s unity, sovereignty and territorial integrity.
Syria’s new government has sought to rebuild its ties with regional countries and international financial institutions after Assad’s ouster. The United Kingdom has also removed its sanctions on 12 Syrian government entities, including the ministries of defense and interior, and the General Intelligence Directorate.
UAE to build 20-bed hospital in Sindh under agreement with provincial government
- The hospital will be constructed in Qambar in the northwestern part of the province
- UAE has also built similar health care facilities in places like Sukkur and Larkana
KARACHI: The United Arab Emirates and Pakistan’s provincial government of Sindh signed a memorandum of understanding (MoU) on Thursday to establish a modern 20-bed hospital in Qambar, located in the northwestern part of the province, according to an official statement.
The UAE has undertaken several health care and development projects in Sindh in recent years, including the expansion of Sheikh Zayed Hospital for Women in Larkana and a pledged women and children’s hospital in Sukkur.
The new facility in Qambar adds to a growing portfolio of UAE-backed efforts aimed at improving public services and infrastructure in underserved areas of the province.
“The United Arab Emirates will establish a 20-bed hospital equipped with modern medical facilities in Qambar,” the Chief Minister’s spokesperson said.
“The facility will be named Sheikh Zayed Hospital,” the statement added.
Chief Minister Murad Ali Shah, who attended the signing ceremony held at his official residence, thanked the UAE authorities for the initiative and said it would help improve health care access in an underserved part of the province.
Pakistan and the UAE have longstanding ties, with the Gulf country supporting multiple infrastructure and humanitarian projects across Pakistan in recent years.
The UAE is also home to a large Pakistani community, which is one of the biggest sources of remittances to the South Asian country
