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Egypt-Pakistan Forum concludes with deliberations on security, economic stability

The two-day summit of Egypt-Pakistan Forum which kicked off in Cairo to mark 70 years of diplomatic ties between the two countries, concluded on September 25.  (South Asian Strategic Stability Institute (SASSI) photo)
Updated 26 September 2018
Mohamed al Shamaa
Yasmin Issa
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Egypt-Pakistan Forum concludes with deliberations on security, economic stability

  • The purpose of the two-day summit was to introduce the Egyptian business community to the investment opportunities in Pakistan and areas of mutual cooperation
  • Security, commerce and trade ties between the two countries largely remained the key topics of discussion
Updated 26 September 2018
Mohamed al Shamaa Yasmin Issa

CAIRO: The Egypt-Pakistan Forum which kicked off in Cairo to mark 70 years of diplomatic ties between the two countries, concluded on September 25. 

The two-day summit was organized under the auspices of Egypt's Ministry of Trade and Industry and Embassy of Pakistan in Cairo, in cooperation with the South Asian Strategic Stability Institute (SASSI) in Islamabad.  

While the purpose of the summit was to introduce the Egyptian business community with the investment opportunities from Pakistan, the key topics of discussion largely remained security, commerce and trade ties between the two countries. 

The attendees discussed the experience of both Pakistan and Egypt in eliminating terrorism and achieving stability. Both the countries were confronted with terrorism at the same time and achieved economic revival. 

The security meeting was attended by Maj. Gen. Muhammad Samrez Salik, Director General of SASSI, Mohammed Al-Kashki, Egypt's Assistant Secretary of Defense for Foreign Relations, Maj. Gen. Jaffar Saeed and Air Vice Marshal Asad Ikram of Pakistan, Irina Basik, Middle East Researcher, Lt. Gen. Asif Yasin Malik, Advisor at the SASSI, Khalid Abdulrahman of the Pakistan Air Force (PAF) and Egyptian researcher Hassan Abdul Majid.

Pakistan's economy also came in focus on the second day of the conference, under the title "Industrial Revolution." The speakers included officers and representatives from not only Pakistan and Egypt but also China. Air vice Marshall Asad Ikram pointed at the positive response the markets were showing to the new opportunities. He further voiced his willingness to collaborate with Egypt. China's Dr. Wang Jinzhao talked about the industrial up gradation for china, Pakistan and Egypt in response to globalization. Dr Alaa Essa, the representative of the Egyptian federation of chamber of commerce and industry, highlighted Egypt’s strategic importance and what Egypt has to offer. He discussed the the potential for the land market, Egypt’s geostrategic location at the cross roads of trade and the potential to expand into the African continent.

The 3rd session titled "defense production and security: The challenge of smart defense and hybrid warfare" was moderated by Lt. Gen. Asif Yaasin Malik and the speakers included the Pakistani and Egyptian top military brass.   

Pakistan's Balochistan Provincial Minister for Information, Zahoor Ahmed Buledi,  stressed the importance of economic transformation in the new society and presented his country's experience in opening the field of information investment, which has become a great force in modern times.

Dr. Alaa Ezz, an economist from Egypt, Ali Issa, a member of the Egyptian Businessmen Association and Pakistani economist Osman Saifullah Khan also spoke at this session.

Chinese expert Jinzhao also spoke about the China Pakistan Economic Corridor (CPEC) project, which he said would bring an industrial revolution in Pakistan turning the country into a trade center in Central Asia. He hoped to replicate such projects between Pakistan and Egypt, as well as China and Egypt.

Among the meetings held on the second day of the forum was a session on the role of women as a key to progress and development. Moderated by Dr. Shabana Fiaz, Director of the Economics Unit at SASSI, the speakers included women representatives from Egypt and Pakistan including representative from Pakistan's Ministry of Commerce, and Yemna El-Sheridi, President of the Association of Businesswomen in Egypt. 

The two-day conference was organized in Cairo by the President of SASSI  Dr. Maria Sultan. Participation from the Egyptian side included Minister of Planning Dr.Hala Al-Saeed, as well as representatives from the Ministry of Commerce and Industry, the Ministry of Investment and International Cooperation, the Ministry of Petroleum and Information Technology, the Central Bank of Egypt, the Financial Supervision Authority and the Suez Canal Economic Zone. 

Participators from the Pakistani side included Minister of Planning, Development and Reforms, Khusro Bakhtiar, Minister of Information Zahoor Ahmed Buledi, along with a number of businessmen and representatives of investment companies in energy, oil and gas, and international cooperation.

Topics: South Asian Strategic Stability Institute SASSI Egypt-Pakistan Forum

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Pakistan PM vows to ‘break any hand’ threatening relations with Saudi Arabia

Updated 7 sec ago
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Pakistan PM vows to ‘break any hand’ threatening relations with Saudi Arabia

  • Statement comes after Imran Khan’s wife released a video message widely viewed as critical of the Kingdom
  • Pakistan and Saudi Arabia are close allies, with nearly 3 million Pakistanis living and working in the Kingdon
Updated 7 sec ago
Hasaan Ali Khan

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday vowed strict action against anyone attempting to undermine Pakistan’s close relations with Saudi Arabia, declaring that his government would “break any hand” threatening ties between the two nations.
Sharif’s statement appeared to reference recent remarks by Imran Khan’s wife, Bushra Bibi, who in a rare public message on Thursday assured state institutions that her jailed husband would not seek revenge against political opponents if he returned to power.
She also made remarks in her video message that were widely viewed as implying that the Saudi government had opposed Khan when he was prime minister from 2018-22.
“Such venom-spitting is an unforgivable crime,” Sharif said while addressing a ceremony on Friday. “I, as the prime minister of Pakistan, want to announce that the nation will break any hand trying to undermine the Pakistan-Saudi friendship.”
“This is not a joke,” he continued. “The allegation is beyond understanding. The biggest national interest is being slaughtered to serve the short-term political interest.”
He criticized the former first lady, whose husband’s PTI party is currently in opposition, saying that the Kingdom had never demanded anything in return from Pakistan for extending economic and diplomatic support but instead always “opened its doors.”
“I think there can be no greater enmity against Pakistan than this [issuing such comments],” he said, adding that Khan’s Pakistan Tehreek-e-Insaf (PTI) party was sacrificing the country’s interest for its political interests.
Sharif said “no one will be allowed to play” with Pakistan’s interests when it concerned “brotherly allies” such as Saudi Arabia.
Earlier, Defense Minister Khawaja Asif also addressed the issue in a press conference, highlighting that over 2.8 million Pakistanis were working in the Kingdom, sending billions of dollars in remittances back to their country every year.
“Our cordial and friendly relationship with Saudi Arabia should not be affected due to someone’s political gains,” he said. “Such a controversial statement is an effort to save PTI’s sinking ship.”
Khan was ousted from the prime minister’s office in a parliamentary vote of no-confidence in 2022, alleging that he was removed by his political rivals and the all-powerful military at the behest of the United States. All three parties deny the accusation.
The cricketer-turned-politician has been in prison since August last year, facing a slew of legal challenges. He denies any wrongdoing, claiming that all cases against him are politically motivated to keep him in jail.
His PTI party is set to kick off a “long march” to stage a protest in Islamabad on Nov. 24, aiming to pressure the government into releasing Khan from prison. Authorities have refused to grant permission to hold the gathering and imposed a ban on public assembly in the capital for two months.

Topics: Pakistan Saudi Arabia ties PM Shehbaz Sharif

Pakistani stocks break psychological 99,000 barrier on optimism over rates, reserves

Updated 22 November 2024
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Pakistani stocks break psychological 99,000 barrier on optimism over rates, reserves

  • An analyst attributes the intraday rally to broad-based gains across most economic sectors
  • The stock market has remained bullish since the government slashed policy rate in November
Updated 22 November 2024
Hasaan Ali Khan

ISLAMABAD: The Pakistan Stock Exchange (PSX) on Friday breached a major psychological barrier, surging past 99,000 points during intra-day trading before settling at 97,798.23, as analysts attributed the rally to investor optimism driven by falling lending rates and higher foreign exchange reserves.
The benchmark KSE-100 index climbed 2,057.40 points by 11:10 am, reaching 99,385.79 points from the previous close. However, the index closed at 97,798.23, marking an increase of 469.84 points or 0.48 percent.
Analyst Ahsan Mehanti of Arif Habib Corporation said bank levies on large deposits, surging global oil prices, and rupee stability were fueling investor optimism.
“Stocks remained bullish, led by scrips across the board, as investors weighed falling lending rates and the imposition of bank levies on large deposits following a drop in government bond yields,” he told Arab News. “Surging global crude oil prices, rupee stability, and higher forex reserves played a catalytic role in the record surge at the PSX.”
Last month, Pakistan’s external current account recorded a surplus of $349 million, marking the third consecutive month of surplus and the highest in this period. The current account reflects a nation’s transactions with the world, encompassing net trade in goods and services, net earnings on cross-border investments and net transfer payments.
A surplus indicates that a country is exporting more than it is importing, thereby strengthening its foreign exchange reserves.
A bullish trend has been observed in the stock market since Pakistan’s central bank cut its key policy rate by 250 basis points, bringing it to 15 percent earlier this month. Economic indicators have also steadily improved since securing a 37-month, $7 billion bailout from the International Monetary Fund (IMF) in September.
In the past, the country faced a prolonged economic crisis that drained its foreign exchange reserves and saw its currency weaken amid double-digit inflation. Last year, Pakistan narrowly avoided a sovereign default by clinching a last-minute $3 billion IMF bailout deal.

Topics: Pakistan Stock Exchange Pakistan Stock Market Pakistan Stock Exchange (PSX)

US vows to be ‘steadfast partner’ after deadly attack in Pakistan’s Kurram district

Updated 22 November 2024
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US vows to be ‘steadfast partner’ after deadly attack in Pakistan’s Kurram district

  • American diplomatic mission says Pakistanis deserve to live free from harm, danger and threat
  • It offers condolences to victims’ families after 41 people were killed by unknown gunmen this week
Updated 22 November 2024
NAIMAT KHAN

KARACHI: The United States on Friday condemned a deadly attack in Pakistan’s Kurram district that killed 41 people this week, reaffirming its commitment to stand with Pakistan in ensuring the safety of its citizens against such militant attacks.
Unidentified gunmen targeted vehicles carrying Shiite community members in the Kurram district of Khyber Pakhtunkhwa province on Thursday, in one of the deadliest sectarian attacks in recent years. The assault, which also left many critically injured, occurred in a region already plagued by deadly clashes in recent months.
“The United States will remain a steadfast partner as Pakistan works to ensure the safety and security of all its citizens,” Jonathan Lalley, the spokesperson of the US diplomatic mission in Pakistan, said in a statement. “We stand in solidarity with Pakistan and the people of Khyber Pakhtunkhwa in this difficult time.”
Lalley expressed condolences to the victims’ families and called for a full recovery for the injured.
“The Pakistani people deserve to live free from harm, danger, and threat, and to feel protected and secure in their daily lives,” he added.
No group has claimed responsibility for the attack, which followed the reopening of a key highway in the region after it was closed for weeks due to sectarian violence.
Kurram, a volatile district near the Afghan border, has been a flashpoint for sectarian clashes between Sunni and Shiite communities, adding to the challenges of maintaining security in the area.
The US-Pakistan forged a counterterrorism partnership in the aftermath of the September 11, 2001, attacks, to address regional security challenges. Over the years, however, the relationship faced friction, while the US-led international forces were in Afghanistan.
Despite the tensions, both countries reaffirmed their commitment to security cooperation and counterterrorism efforts, especially in the wake of the US military withdrawal from Afghanistan in 2021.
The commitment to security partnership reflects a shared goal of combating extremism and ensuring regional stability.
 

Topics: Pakistan US Ties militancy in Pakistan kurram district parachinar

Pakistan, Malaysia agree to enhance military cooperation with focus on air force training

Updated 22 November 2024
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Pakistan, Malaysia agree to enhance military cooperation with focus on air force training

  • Malaysian air chief praises PAF’s advancements in indigenization on his first Pakistan visit
  • His Pakistani counterpart reaffirms commitment to training Malaysian Air Force personnel
Updated 22 November 2024
Arab News Pakistan

ISLAMABAD: Pakistan and Malaysia have agreed to deepen bilateral military cooperation, with a particular emphasis on joint training and air power collaboration, Pakistan’s military said on Friday.
The understanding was reached during a meeting between Pakistan Air Force (PAF) Chief Air Chief Marshal Zaheer Ahmed Baber Sidhu and Royal Malaysian Air Force Chief General Tan Sri Dato’ Sri Mohd Asghar Khan bin Goriman Khan at Air Headquarters in Islamabad.
“The [Pakistan] Air Chief reaffirmed his commitment to enhancing military partnership between the two Air Forces through joint training initiatives, particularly within the realm of air power,” the Inter-Services Public Relations (ISPR) said in a statement. “These initiatives will encompass provisioning of both basic and tactical level training for personnel of the Malaysian Air Force.”
The Malaysian air chief, making his first visit to Pakistan, praised the PAF’s advancements in indigenization and technological innovation. He also expressed interest in bolstering ties through enhanced collaboration in training, maintenance and operational excellence.
The meeting included discussions on defense cooperation, joint exercises and technology sharing, ISPR said, highlighting the robust defense relationship between the two nations.
During his visit, the Malaysian official toured the National Aerospace Science & Technology Park Silicon and the PAF Cyber Command, where he was briefed on Pakistan’s advanced operational capabilities.
He also lauded the innovative projects displayed at the ongoing International Defense Exhibition IDEAS-2024 in Karachi.
Earlier, the Malaysian air chief was presented with a guard of honor upon his arrival, ISPR added.

Topics: Pakistan Malaysia ties pakistan air force Pakistan air force chief  Zaheer Ahmed Babar

Pakistan government doubles down on preventing Imran Khan’s Nov. 24 protest

Updated 22 November 2024
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Pakistan government doubles down on preventing Imran Khan’s Nov. 24 protest

  • Interior Minister Mohsin Naqvi warns no talks if Khan’s PTI proceeds with the protest
  • Ex-premier’s party plans a ‘long march’ to Islamabad, seeking his release from prison
Updated 22 November 2024
Hasaan Ali Khan

ISLAMABAD: Pakistan’s Interior Minister Mohsin Naqvi on Friday vowed to implement the Islamabad High Court’s (IHC) order, refusing to allow former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party to stage the Nov. 24 protest in the federal capital demanding his release.
The PTI has announced a “long march” to Islamabad, primarily to pressurize the government to end Khan’s imprisoned that has lasted for over a year on what his party contends are politically motivated charges. The protest also aims to raise PTI’s voice against alleged rigging in the February 8 general elections while calling for measures to ensure judicial independence, which the party says has been undermined by the 26th constitutional amendment.
Only a day earlier, the IHC directed the government to form a committee to engage in talks with the PTI, emphasizing the need to avoid disruptions during the three-day visit of Belarusian President Aleksandr Lukashenko to discuss bilateral economic cooperation. The court expressed hope that the PTI would allow “meaningful communication” with the administration while acknowledging that the maintenance of law and order would be the government’s priority if there was no breakthrough between the two sides.
Addressing the media in Islamabad alongside the capital city’s chief commissioner and police chief, the interior minister highlighted that no rally, march or protest would be allowed in the federal capital owing to the Belarusian president’s visit to the country, as per the IHC order.
“No one will be allowed to stage a rally or protest in Islamabad in compliance with the high court order,” Naqvi said. “After the IHC order, we will implement it 100 percent at any cost. We are bound by the law to implement it.”
Regarding the IHC directions to hold talks with the PTI party leadership, the minister said he would speak to Prime Minister Shehbaz Sharif in the evening to constitute a committee “but definitely if they stage a protest, this [negotiation] will get difficult.”
Islamabad’s district magistrate has already imposed a two-month ban on the gathering of more than five people in the capital using Section 144 of the Criminal Procedure Code (CrPC), which allows the government to prohibit various forms of political assembly, gatherings, sit-ins, rallies, demonstrations and other activities for a specified period.
In response to a question about whether the government was in touch with Adiala Jail, where ex-premier Khan is currently incarcerated, Naqvi said he has no contact with anyone there.
The interior minister also highlighted that the capital city’s administration did not receive any application from the PTI to stage a protest.
He made it clear that people violating the court orders would be responsible if there was any loss of life during the Nov. 24 protest.
Naqvi also said that he agreed with the residents of Islamabad that shops, roads, businesses and mobile signals should not be shut down but noted there was no other way of dealing with such protests.
“If they want to come and protest [in Islamabad], I’ll be the one who will say that no talks should take place,” he concluded. “If they want to hold talks, they should do it in a proper manner. This is no way that on one side they protest and on the other call for talks.”
Earlier this week, Pakistan’s interior ministry had authorized the deployment of paramilitary Punjab Rangers and Frontier Corps troops in Islamabad to maintain law and order.
Pakistan’s parliament also passed a law earlier this year to regulate public gatherings in Islamabad, specifying timings for rallies and designating specific areas. The law prescribes three-year jail terms for participants in illegal assemblies and 10-year imprisonment for repeat offenders.
 

Topics: PTI protest Interior Minister Mohsin Naqvi Mohsin Naqvi Imran Khan

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