Pakistan opens Badini terminal in Balochistan for trade with Afghanistan 

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Balochistan Chief Minister Jam Kamal and a senior military official hold a map of the newly-inaugurated Badini trade terminal between Afghanistan’s Zabul province and Qila Saifullah district of Pakistan on September 16, 2020. (Photo courtesy: Quetta Chambers of Commerce and Industries)
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Updated 22 September 2020
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Pakistan opens Badini terminal in Balochistan for trade with Afghanistan 

  • Badini provides shortest route for vehicles from Karachi and Punjab to Afghanistan’s Ghazni province and Kabul, official says
  • Before outbreak of coronavirus, trade between Pakistan and Afghanistan stood at roughly $1.2 billion per year

DERA ISMAIL KHAN/ PAKISTAN: Pakistan last week opened another terminal for trade with Afghanistan, the Badini terminal in Balochistan, an official said on Monday.
Chief Minister Jam Kamal Khan Alyani inaugurated the trade terminal in the border area of Badini on Wednesday, with Commander of Southern Command Lt Gen Mohammad Wasim Ashraf, Inspector General of Frontier Corps North Maj Gen Fayyaz Hussain Shah, provincial ministers, legislators and other officials attending the inauguration ceremony.




Balochistan Chief Minister Jam Kamal and other officials pray after inaugurating the Badini trade terminal between Afghanistan’s Zabul province and Qila Saifullah district of Pakistan on September 16, 2020. (Photo courtesy: Quetta Chambers of Commerce and Industries)

“This route has now been opened after our persistent efforts, which tends to create jobs and multiply trade opportunities for people living in border areas where there is no industry and agriculture,” Hajji Akhtar Kakar, member of the Quetta Chambers of Commerce and Industry and chairman Badini Committee, told Arab News on Monday. “It will also minimize traffic pressure on the Chaman border,” he added, referring to another border crossing. 




Balochistan Chief Minister Jam Kamal (center) and other officials pose for a photo after inaugurating the Badini trade terminal between Afghanistan’s Zabul province and Qila Saifullah district of Pakistan on September 16, 2020. (Photo courtesy: Quetta Chambers of Commerce and Industries)

“Comparatively, this is the shortest route for vehicles coming from Karachi and Punjab to reach Afghanistan’s Ghazni province and Kabul,” Kakar said. “We have rampant poverty here and most of the youngsters are jobless, so this is a viable option to create work for them.”
A branch of the National Bank of Pakistan and offices of relevant departments would also be set up near the terminal, Kakar said.
Liaquat Shahwani, spokesperson of the government of Balochistan, couldn’t be reached for comment. 




Elders pose for a photo after the inauguration ceremony of the Badini trade terminal between Afghanistan’s Zabul province and Qila Saifullah district of Pakistan on September 16, 2020. (Photo courtesy: Quetta Chambers of Commerce and Industries)

Before the outbreak of the coronavirus, trade between Pakistan and Afghanistan stood at roughly $1.2 billion per year, said Faiz Muhammad, executive member of the Sarhad Chamber of Commerce and Industry, adding that this could be increased to $3.5 billion annually.
Almost 50 percent of Pak-Afghan trade took place through Chaman and 40 percent via Torkham while trade potential via Ghulam Khan in North Waziristan district was yet to be evaluated, Muhammad added. 


Pakistan’s finance chief announces plans to float Panda bonds in Chinese market this year

Updated 3 min 37 sec ago
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Pakistan’s finance chief announces plans to float Panda bonds in Chinese market this year

  • Panda bonds are issued by foreign governments through Chinese financial markets
  • Pakistan aims to raise about $200 million from Chinese investors by issuing these bonds

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Wednesday Pakistan plans to issue Panda bonds this year to leverage the Chinese capital market and strengthen its economy.
Panda bonds are issued by foreign governments, companies or institutions through China’s interbank bond market or stock exchanges, with approval from Chinese regulators. Investors typically include Chinese banks, insurance companies, asset managers and institutional investors looking for yuan-denominated, low-risk assets.
Pakistan’s plan to launch these bonds can help diversify its funding sources, reduce reliance on Western markets and boost foreign exchange reserves, especially by attracting investment from Chinese institutions.
The Pakistani finance chief, who is currently in China to attend the four-day Boao Forum for Asia Annual Conference 2025, shared the administration’s plan to issue Panda bonds in an interview with CGTN English, a local news channel.
“I have been advocating and I am very keen that Pakistan, taking advantage of the second largest and the deepest capital market in the world, that we go for an inaugural Panda bond and we issue that,” Aurangzeb said.
“Because Pakistan has done previously many issues in US dollar and the Euro but we haven’t done that in the context of the Chinese capital market,” he added. “So, we are very hopeful that during this calendar year, we will do that.”
Aurangzeb announced in January the government wanted to raise about $200 million from Chinese investors through the issuance of the Panda bonds.
The development followed an upgrade in Pakistan’s sovereign rating by three major credit agencies, with the government aiming to get into the “single-B” category to return to global bond markets to raise funds.
The developments came after the country’s macroeconomic indicators considerably improved following a prolonged economic crisis that brought Pakistan to the verge of a sovereign debt default about two years ago, building massive inflationary pressure in the economy and forcing the government to raise interest rates above 20 percent.
 


Fitness enthusiasts challenge themselves with pre-iftar hikes in Pakistani capital

Updated 19 sec ago
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Fitness enthusiasts challenge themselves with pre-iftar hikes in Pakistani capital

  • Hikers set out hour before sunset, break fast on trails on Margalla Hills National Park
  • Participants say pre-iftar hikes help boost fat burning, maintain weight in Ramadan

ISLAMABAD: Zainab Tahir struggled to catch her breath as the steep incline of the hiking trail at Islamabad’s picturesque Margalla Hills tested her endurance. Hiking can put one through physical exertion, especially when they do it on an empty stomach. 

An hour before the sun sets and the call to prayer blares out from various mosques located in Pakistan’s capital city, a group of fitness enthusiasts take to the hiking trails in Margalla Hills National Park. 

Islamabad Run With Us (IRU), which describes itself as Pakistan’s “pioneering running community,” is behind the pre-iftar hiking initiative. 

“When you engage in pre-iftar [physical] activities during Ramadan, it gives you extra energy, an extra boost,” Qasim Naz, who founded IRU in 2016, told Arab News on hiking trail number three. 

“And when someone joins in on an activity once or twice, they figure out it’s not that hard and they can sustain it comfortably.”

Participants hike up the mountain at the Margalla Hills National Park in Islamabad on March 25, 2025, during an Arab News’ Ramadan special coverage of a pre-iftar hiking trend in Pakistani capital. (Photo courtesy: Handout/IRU)

Naz stresses that staying active during the holy month is essential. The IRU organizes five activities a week, which include two runs and three hikes.

“Either we can maintain our weight, or if our goal is weight loss, we can achieve it by being in a calorie deficit while eating a healthy diet and exercising,” Naz explained.

Tahir, 22, meanwhile said she was committed to reaching the top of hiking trail before sunset. This was the second time she was hiking with IRU. 

She agreed with Naz that group activities are “much easier” to sustain. 

“I think it is important to go at your own pace and it’s so much easier with the group,” Tahir, a content creator, told Arab News. 

“If you go alone, it’s kind of more difficult and you are like really slow but if you go with the group you can maintain that pace and I think it’s much easier that way.”

Mahwish Ashraf, a journalist associated with a foreign diplomatic mission in Islamabad, shared how she struggled the first time she went on a pre-iftar hike with IRU. 

“The first time I was hiking, I returned from in between, I couldn’t complete it,” she admitted. “So, this is my second time hiking with the IRU, and gladly, I’m at the main point, the meeting point.”

 

This aerial view shows the Margalla Hills National Park in Islamabad on March 25, 2025, during an Arab News’ Ramadan special coverage of a pre-iftar hiking trend in Pakistani capital. (Photo courtesy: Handout/IRU)

Eraj Khan, a commercial specialist visiting from Australia to spend Ramadan with his family, said pre-iftar hikes give one “lots of energy.” 

“For fat burning, it’s a great activity,” Khan said. “Especially because the last two hours of fasting are the hardest, most people feel really hungry. But so far, I’m loving it.”

As the clock continued to tick and evening settled in, the hikers began to pick up their pace. For Tahir, reaching the top of the trail before sunset was a victory in itself. 

She had pushed past exhaustion, embraced the challenge and proved to herself that she was capable of more than she thought she could achieve.

And according to her, hiking with the group made all the difference. 

“The energy of the group keeps you going,” she said. “Even when you feel like stopping, you see everyone else moving forward, and you push through.”


Pakistan unveils ‘fastest’ EV charging station in Islamabad 

Updated 26 March 2025
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Pakistan unveils ‘fastest’ EV charging station in Islamabad 

  • 120KW EV charging station can recharge electric vehicles within 30-60 minutes
  • Government approved national EV policy in 2019, setting target of 30 percent EVs by 2030

ISLAMABAD: Power Minister Sardar Awais Leghari has inaugurated the country’s fastest Electric Vehicle (EV) charging station in Islamabad, the state broadcaster reported this week, as Pakistan moves to enact reforms of the energy sector designed to boost demand.

The government approved the National Electric Vehicles Policy (NEVP) in 2019, setting a target of 30 percent EVs by 2030. 

“EVs are the future of Pakistan and the government is committed to promoting green energy,” Radio Pakistan quoted Leghari as saying on Tuesday as he inaugurated a 120kW EV charging station, which enables faster charging than standard residential chargers (3-7 kW), allowing EVs to recharge typically within 30-60 minutes.

Leghari also said the cost of electric charging units had been reduced from Rs71 to Rs39 [$0.14], which was expected to lower transportation expenses, positively impacting goods delivery and essential commodity prices.

Earlier this year, Pakistan announced a 45 percent reduction in power tariffs for electric vehicle charging stations. The government is also planning financing schemes for e-bikes and the conversion of two and three-wheeled petrol vehicles.

According to a report submitted to the government by power ministry adviser Ammar Habib Khan and seen by Reuters, there are currently more than 30 million two- and three-wheeled vehicles in Pakistan, which consume more than $5 billion worth of petroleum annually. The ministry plans to convert 1 million two-wheelers to electric bikes in a first phase, at an estimated net cost of 40,000 rupees per bike, according to the report, saving around $165 million in fuel import costs annually.

BYD Pakistan, a partnership between China’s BYD and Pakistani car group Mega Motors, told Reuters in September that up to 50 percent of all vehicles bought in Pakistan by 2030 will be electrified in some form in line with global targets.

In January, China’s ADM Group revealed plans to invest $250 million in setting up an electric vehicle manufacturing plant in Pakistan.


Punjab set to launch Pakistan’s first carbon credit project at Lahore dumping site

Updated 26 March 2025
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Punjab set to launch Pakistan’s first carbon credit project at Lahore dumping site

  • Mehmood Booti dumpsite near Lahore’s Ring Road has amassed 13 million tons of waste, causing environmental hazards
  • Official says project includes capturing methane, treating waste and transforming site into urban forest and solar park

ISLAMABAD: The government in Pakistan’s eastern Punjab province is set to launch the country’s first-ever carbon credit project “soon” at a decades-old dumping site in Lahore, aiming to reduce pollution and mitigate climate risks, an official confirmed on Wednesday.

The Mehmood Booti dumpsite, a 42.98-acre landfill near Lahore’s Ring Road area, has been accumulating waste since 1997. Over the years, it has amassed 13 million tons of waste, leading to severe environmental hazards including toxic groundwater contamination, hazardous air pollution, and methane emissions. 

Lahore, the capital of Pakistan’s eastern province of Punjab, has repeatedly ranked among the world’s most polluted cities in international air quality indices, with smog causing severe health issues for residents every winter. 

Carbon credit projects are initiatives that reduce, remove or prevent the emission of greenhouse gases. These projects generate carbon credits, which can be sold to companies or individuals looking to offset their carbon footprint.

“RUDA [Ravi Urban Development Authority] is taking a historic step toward environmental sustainability by rehabilitating the Mehmood Booti dumpsite,” Alishba Tajwar, deputy director of communication and environment at RUDA, told Arab News.

“And is all set to launch Pakistan’s First-Ever Carbon Credit Project at the site very soon after testing as most of the work has been completed.”

The official said the rehabilitation project included initiatives such as capturing methane, leachate treatment [which treats leachate, a contaminated liquid that drains from landfills or waste sites] and transforming the site into an urban forest and solar park.

“This project not only addresses severe environmental challenges posed by the 13 million tons of waste accumulated over decades but also introduces innovative solutions to repurpose waste into hydrogen energy,” Tajwar said. 

Pakistan is among the countries most at risk from climate change, as per the Global Climate Risk Index. Extreme weather events like floods, droughts, cyclones, torrential rainstorms, and heat waves have been occurring more frequently and with greater intensity across the country in recent years. 

She said the initiative aims to reduce pollution, cut carbon emissions by one million tons over 15 years and align Pakistan with global sustainability goals.

She said methane emissions from the dumpsite will be captured and converted into usable energy, adding that the carbon credit mechanism in the rehabilitation project followed a structured process that enables monetization of emission reductions through global carbon markets.

The RUDA official said this project represented a Rs5 billion ($17.86 million) investment, making it one of Pakistan’s most ambitious environmental initiatives.

“With an expected issuance of 100,000 tons of carbon credits per year, it will generate Rs2 billion ($7.14 million) in revenue annually, reinforcing Pakistan’s climate finance strategy,” Tajwar said. 

She said captured methane will either be converted into energy or flared using advanced gas recovery technology, significantly lowering greenhouse gas emissions.

Tajwar said the project involved collecting solid waste, treating it to extract usable gases and converting those gases into hydrogen.

“This hydrogen can then be utilized for various energy needs, including electricity generation, industrial uses, and even fuel for hydrogen-powered vehicles,” she explained. 

‘POSITIVE IMPACT’

Environmental experts termed this initiative as a much-needed step to reduce pollution and address environmental challenges faced by Lahore residents.

Asif Mahmood, a Lahore-based environment expert, said this was an environmentally friendly project initially proposed by the interim government in 2023 to transform the site into a solar park.

“In 2019, dangerous methane gas clouds were observed emerging from the site, affecting not only the surrounding area but also the entire city,” he told Arab News.

Mahmood said rehabilitation work at the site had already made a noticeable difference, with one of the most evident improvements being the elimination of the foul odor that previously affected surrounding areas for several kilometers.

Asif Ali Sial, a Lahore-based environment lawyer, said the project will have a positive impact by providing relief to the city’s residents from solid waste pollution.

“A series of garbage piles at the site has been causing significant harm to residents and the environment,” he said. 

“Therefore, this project will have a positive impact on the city’s surroundings and overall environmental quality.”


Pakistani stocks, currency appreciate in response to Islamabad-IMF staff-level agreement 

Updated 26 March 2025
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Pakistani stocks, currency appreciate in response to Islamabad-IMF staff-level agreement 

  • IMF on Tuesday announced reaching staff-level agreement with Islamabad on first review under Extended Fund Facility
  • Stocks close at 117,772 points, gaining 1 percent while the rupee inches 0.1 percent up to close at Rs280.2 against the greenback 

KARACHI: Pakistan’s stocks and currency markets on Wednesday reacted positively to Islamabad’s staff-level agreement (SLA) with the International Monetary Fund (IMF), with financial analysts noting that the agreement has eased market sentiments.

The IMF announced on Tuesday it had reached a staff-level agreement on the first review under Pakistan’s Extended Fund Facility (EFF) and on a new arrangement under the Resilience and Sustainability Facility (RSF). 

Subject to approval from the IMF’s Executive Board, the SLA will ensure “Pakistan will have access to about $1.0 billion (SDR 760 million) under the EFF, bringing total disbursements under the program to about $2.0 billion,” the global lender said. 
The benchmark KSE-100 Index at the Pakistan Stock Exchange (PSX) rallied to an intraday high of 118,220 points on Wednesday, gaining 1.4 percent or 1,588 points from the previous close. The stocks closed at 117,772 points with a 1 percent total increase. 
“Definitely, the IMF agreement on Pakistan’s first review and climate financing was a major trigger for the market,” Sana Tawfik, the head of research at Arif Habib Ltd. brokerage company, told Arab News.

The current IMF review is critical for debt-ridden Pakistan, which has been grappling with a balance of payment crisis and has so far recorded a $691 million surplus this year in eight months till February, compared with its $1.7 billion deficit a year earlier. 

Pakistan is carrying out IMF-backed structural reforms and expects to expand its economy by 3.6 percent this fiscal year.

“We are committed to structural reforms for sustainable long-term growth and prosperity,” Pakistan’s finance adviser Khurram Schehzad told Arab News. 

Pakistan’s stock index rose 89 percent to 78,445 points in FY24, according to data from the Pakistan Stock Exchange.

Tawfik said she expected the index to increase to a record 123,000 points by June this year, once Pakistan receives the IMF’s first tranche under review.

“The overall market sentiments are IMF-driven,” Tawfik noted.

STABLE RUPEE OUTLOOK

Pakistan’s national currency also appreciated on Wednesday, inching 0.1 percent up to close at Rs280.2 against the US dollar in the interbank market. 

After depreciating about 0.7 percent this year since July, the rupee has stabilized in the range of Rs280-281 against the dollar.

“The rupee would have taken a hit had this agreement not been made,” Owais ul Haq, a foreign exchange dealer at Arif Habib Ltd., told Arab News. 

Haq said he expected the rupee to remain stable at the Rs280-281 mark, adding that anything below this rate would hurt exporters.

A healthy inflow of remittances stabilizes the supply of dollars in the country, helping the rupee stay stable against the greenback.

Pakistan expects to receive more than $35 billion in remittances this year through June, as overseas Pakistan remitted a record $1.3 billion in February, primarily due to “seasonal factors” such as Ramadan and Eid.

“I see a stable outlook for the rupee going forward,” Haq said. 

Muhammad Zafar Paracha, secretary general at the Exchange Companies Association of Pakistan, agreed the IMF agreement would help the rupee stay stable against the dollar.

“The investors were feeling a bit jittery, but this IMF agreement has eased market sentiments,” he said. 

“The rupee has shown some appreciation in the interbank and open market and will strengthen more in the days to come,” he added. 

Addressing the federal cabinet on Wednesday, Prime Minister Shehbaz Sharif said Pakistan’s agreement with the IMF would help it ensure long-term economic stability.

Sharif noted that Pakistan was able to increase its tax-to-GDP ratio to 10.6 percent, exceeding the IMF’s target of 10.2 percent. 

“This is the highest tax collection ratio in the last four years,” he said.

The prime minister said that the IMF required his government to collect Rs12.9 trillion in taxes this year but then agreed to revise its target to Rs12.1 trillion rupees.

Pakistani authorities fixed the tax collection target to Rs12.33 trillion and were able to increase collection by 26 percent, he said, describing it as a “quantum jump.”