KARACHI: Pakistan’s newly appointed Minister for Planning Asad Umar on Saturday rejected US reservations on the nearly $70 billion China Pakistan Economic Corridor (CPEC) and said relations between ‘iron brothers’ Beijing and Islamabad would ‘never be frayed.’
Umar’s strong clarification came in response to remarks by US diplomat Alice Wells on Friday, who said the CPEC would further add to Pakistan’s debt burden. Wells is in charge of South Asia affairs at the US State Department.
“China is a close, time-tested friend, who stood with us during the most difficult situations. We are iron brothers and have to further strengthen the friendship and take CPEC forward to bring the relationship even closer,” Umar said at the Karachi Press Club.
“This does not mean that our friendship with China goes against anyone. All countries including the US are welcome to invest in Pakistan,” he said, and added: “We don’t want to create any situation where we become a part of the conflict between other countries.
Pakistan denied that the country was heavily in debt due to Chinese loans and said loans from China made up less than a quarter of total public debt.
“Our total public debt is $74 billion of which the Chinese debt amounts to $18 billion-- even less than one fourth of the total debt. And if I further break it down, the CPEC debt under this figure of public debt is $4.9 billion-- not even 10 percent of the total debt,” the minister said.
“As far as the money taken from China is concerned, it was taken at such a time when our trade deficit was dangerously high and our reserves were falling. We were unable to easily procure loans from other sources. This was the hallmark of China’s friendship with Pakistan that in such a time of crisis, it provided us loans from its commercial banks.”
Over the next three years, he said, debt servicing would witness about a third being spent on settling the commercial loans from China, and the commercial borrowing would be substituted by long-term, multi-lateral debt leading to a sharp decline in Chinese debt servicing.
Umar refuted Wells’ argument that the Chinese commercial loans were too expensive and had too short a payback period.
“The average maturity of public debts is 20 years. The interest on the loan is only 2.34 percent and that makes it a very cheap loan,” he said.
Umar did concede that China was making an investment in Pakistan and was not handing out aid.
“She (Alice Wells) is right-- it is basically an investment and Pakistan never said that this is aid. Pakistan’s stance is very clear that we want to move away from the dependence on aid.”
But following a systematic negation of Wells statements, Umar said it was untrue that China would be the sole benefactor of CPEC, while listing the many infrastructural and other advantages to Pakistan.
Pakistan rejects US warning on CPEC, reaffirms commitment to 'iron brother' China
Pakistan rejects US warning on CPEC, reaffirms commitment to 'iron brother' China
- Minister of planning was responding to a ‘warning’ against CPEC by US diplomat Alice Wells
- China’s share only $18 billion in Pakistan’s $74 billion total public debt, minister said
Pakistan, UAE logistics firm to begin shipping service next month
- The development comes amid Pakistan’s efforts to leverage its geopolitical position and enhance trade
- The service will promote economic growth and prosperity, and further accelerate regional development
ISLAMABAD: Pakistan’s National Logistics Corporation (NLC) and DP World, an Emirati multinational logistics company, are set to begin a shipping service between Karachi and Dubai next month, Pakistani state media reported this week.
Pakistan, which has been facing an economic crisis, wants to leverage its strategic geopolitical position and enhance trade with various countries in the region.
Pakistani policymakers consider the United Arab Emirates (UAE) an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
The shipping service between Karachi and Dubai’s Jebel Ali port is due to begin on Jan. 13, the state-run Radio Pakistan broadcaster reported.
“This shipping service marks a significant milestone in strengthening trade and regional connectivity,” the report read. “It will also promote economic growth and prosperity and will further accelerate the pace of development in the region.”
The UAE is Pakistan’s third-largest trading partner after China and the United States (US), and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the UAE foreign ministry. It is also home to more than a million Pakistani expatriates.
In January this year, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure, a Pakistani official said, amid Pakistan ‘s caretaker prime minister Anwaar-ul-Haq Kakar’s visit to Davos, Switzerland to attend 54th summit of the World Economic Forum (WEF).
The agreements cover the development of a dedicated freight corridor, multi-modal logistics park, and freight terminals, Syed Mazhar Ali Shah, the Pakistan Railways secretary, said at the time.
Under the agreements, DP World would carry out infrastructure improvement at Qasim International Container Terminal, Pakistan’s leading trade gateway, as part of the project. The Emirati firm also planned to develop an economic zone near the terminal.
Pakistani Taliban sanctuaries in Afghanistan a ‘red line,’ PM Sharif warns after airstrikes
- Afghan Taliban said 46 including women and children killed in Pakistani airstrikes in border province of Paktika
- Pakistan army, government have not yet officially confirmed strikes which media reported hit militant hideouts
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday urged the Taliban rulers in Afghanistan to take action against militants harboring in the neighboring country, days after Kabul said at least 46 people had been killed in Pakistani airstrikes in the eastern border province of Paktika.
The Pakistan army and government have not yet officially confirmed Tuesday’s airstrikes, which the Afghan Taliban said targeted “mostly civilians.”
Media widely reported on Wednesday Pakistani security forces had targeted multiple suspected hideouts of the Pakistani Taliban, also known as the Tehreek-e-Taliban Pakistan (TTP), dismantling a training facility and killing several insurgents.
Addressing the federal cabinet on Friday, Sharif did not confirm the latest airstrikes but said Pakistan was prepared to protect its sovereignty at “every cost.”
“I feel that this is a red line for us, if TTP operates from there [Afghanistan], it is not acceptable for us and we will defend Pakistan’s sovereignty at every cost,” the PM added. “But I would also like to once again urge the Afghan government to adopt a strategy for this issue, and we are ready to engage in discussions on this matter.”
Border tensions between the two countries have escalated since the Taliban government seized power in 2021, with Pakistan battling a resurgence of militant violence in its western border regions.
Islamabad has accused Kabul’s Taliban authorities of harboring militant fighters, allowing them to strike on Pakistani soil with impunity. Kabul has denied the allegations.
“If we get messages that you want to expand relations with us and on the other hand TTP is given a free hand, then this can’t happen, it’s not possible,” Sharif added.
At a weekly press briefing on Thursday, Foreign Office Spokesperson Mumtaz Zahra Baloch also declined to confirm Tuesday’s airstrikes but said Pakistan was committed to the security of its people, and its security and law enforcement personnel conducted operations based on “concrete intelligence” against terror groups operating in the border areas.
“I would like to add here that Pakistan believes in dialogue and diplomacy. We have always prioritized diplomacy in our relations with Afghanistan,” Baloch said. “Despite the presence of terror hideouts and sanctuaries, and the consistent threat they pose to Pakistan, we have always opted for diplomacy.”
Baloch reiterated Pakistan’s demand that Afghanistan prevent the use of its territory for terror attacks against Pakistan, calling on the neighbor to work with Islamabad to combat the threat posed by groups like the TTP.
“And any issues that either side has with regards to border management, trade and transit trade, security, terrorism, these issues remain high on our bilateral agenda,” Baloch added.
The banned TTP group said in a statement on Wednesday the strikes had hit “the homes of defenseless refugees” on Tuesday evening, killing at least 50 civilians, including 27 women and children.
Deadly air strikes by Pakistan’s military in the border regions of Afghanistan in March that the Taliban authorities said killed eight civilians had prompted skirmishes on the frontier.
Saudi Tourism Authority signs up as title partner for Pakistan’s top tourism expo next month
- Fourth edition of Pakistan Travel Mart to be held in Karachi from Jan. 31 to Feb. 2, followed by roadshow in Islamabad
- Saudi Arabia will feature a dedicated pavilion offering visitors a glimpse into its rich heritage and tourism destinations
KARACHI: The Saudi Tourism Authority will be the title partner for Pakistan’s premier tourism expo set to take place in the commercial capital of Karachi next month, the organizers of the event said on Thursday.
The fourth edition of Pakistan Travel Mart, a leading travel trade show, will bring together key stakeholders and partners from both Pakistan and around the world at the Karachi Expo Center from Jan. 31 to Feb. 2, followed by a roadshow in Islamabad on Feb. 4-5.
“This is big news for us,” Adeeba Khalid Jadoon, Chief Marketing Officer of PTM, said as she announced the Saudi partnership. “We are really delighted to have Saudi Arabia as a destination and the Saudi Tourism Authority as our title partner.”
Speaking to Arab News, Jadoon described the partnership as a “breakthrough” that would strengthen bilateral ties between the two countries.
“The way Saudi Arabia has transformed the tourism landscape, no other country has done that,” she said. “And I think it’s doing exceptionally well when it comes to tourism development, projection of it as a tourism destination.”
Jadoon also praised the “fusion of tradition and modernity” in Saudi Arabia’s tourism offerings.
“There is NEOM, which is completely built on a 100 percent technology foundation, very sleek design, very sleek concept,” she said referring to a futuristic region being built in the desert.
NEOM, a Red Sea urban and industrial development nearly the size of Belgium that is meant to eventually house 9 million people, is central to Saudi Arabia’s Vision 2030.
“And if you go toward the AlUla site, it’s a cultural preservation site for the travelers. So, in Saudi Arabia you will find every everyone will find everything for them to experience,” Jadoon added, referring to an ancient Arabian oasis city located in Medina Province, which has become a top tourist site in recent years.
Sophia Al Khawar, Head of Trade and Acting Country Head at the Saudi Tourism Authority, highlighted the wide range of offerings that would be available to Pakistani travelers at the event:
“There are new products for Pakistan. We are supporting you with MICE [Meetings, incentives, conferences, and exhibitions]. We are supporting you with destination weddings, solo travel for women. Saudi has something for everyone ... We host eight World Heritage sites. We have the biggest rave festival of the world. The most sustainable traveling there is, is there.”
Saudi Arabia will feature a dedicated pavilion at PTM 2025, providing attendees with an immersive experience of the Kingdom’s tourism offerings.
“If you wanted to know more about Saudi and what we’re offering you, you have to visit it at the PTM because everybody would get a good glimpse. So, see you at PTM and then see you in Saudi,” Khawar added.
For the first time, PTM will introduce a dedicated Tech Hall, bridging technology and travel to enhance consumer experiences, organizers said. Supported by industry partners like the Pakistan Software Export Board (PSEB) and the Pakistan Software Houses Association (P@SHA), the Tech District will feature technology companies, innovative platforms, and startups within the travel and tourism sector.
This year’s PTM will also feature a Learning Enclave, an interactive space showcasing insights from both local and international travel, tourism, and hospitality experts. The enclave will host talks, panel discussions, case studies, and immersive demonstrations, “transforming traditional learning spaces into dynamic environments designed to maximize engagement and knowledge-sharing,” a press release said.
On death anniversary, Pakistani leaders remember Benazir Bhutto, first woman PM in Muslim world
- Bhutto was daughter of ex-PM Zulfikar Ali Bhutto who was hanged during reign of former military ruler Gen. Zia-ul-Haq
- Year before assassination in 2007, Bhutto signed landmark deal with rival Nawaz Sharif to prevent army interventions
ISLAMABAD: Prime Minister Shehbaz Sharif and other Pakistani leaders on Friday paid tribute to Benazir Bhutto, the first woman prime minister in the Muslim world who was assassinated 17 years ago in a gun and bomb attack after a rally in the city of Rawalpindi.
Bhutto, born on Jun. 21, 1953, was elected premier for the first time in 1988 at the age of 35. She was deposed in 1990, re-elected in 1993, and ousted again in 1996 amid charges of corruption and mismanagement, which she denied as being politically motivated.
Bhutto only entered politics after her father was hanged in 1979 during military ruler Gen. Zia-ul-Haq’s reign. Throughout her political career, she had a complex and often adversarial relationship with the now ruling Sharif family, but despite the differences signed a ‘Charter of Democracy’ in 2006 with three-time former PM Nawaz Sharif, with a pledge to strengthen democratic institutions and prevent military interventions in Pakistan in the future. She was assassinated a year and a half later.
“Today, we commemorate the 17th anniversary of the martyrdom of Shaheed Mohtarma Benazir Bhutto,” PM Shehbaz Sharif, who is Nawaz’s younger brother, said in a post on X. “A champion of democracy, and a staunch advocate of the power of dialogue and reconciliation in the political process, Mohtarma Benazir Bhutto remains an icon of courage and resilience.”
President Asif Ali Zardari, Bhutto’s widower, urged the nation to draw inspiration from the late premier and work to realize her “dream of a peaceful, progressive, and democratic Pakistan.”
“On this day, we honor a leader who embodied the very spirit of hope, resilience, and unwavering commitment to the ideals of democracy and justice,” he was quoted as saying by Radio Pakistan.
“Mohtarma Benazir Bhutto was a trailblazer who dreamt of a Pakistan where the rights of all citizens, irrespective of color, class and creed, would be protected.”
Powerful families from the Bhuttos and Sharifs of Pakistan to the Gandhis of India and the Bandaranaike family of Sri Lanka have dominated politics in this diverse region since independence from British colonial rule. But none have escaped tragedy at the hands of rebels, militants or ambitious military leaders.
It was Zulfikar Ali Bhutto who founded the troubled Bhutto dynasty, becoming the country’s first popularly elected prime minister before being toppled by the army in 1977 and later hanged. Both his sons died in mysterious circumstances.
Before her assassination on Dec. 27, 2007, Bhutto survived another suicide attack on her motorcade that killed nearly 150 people as she returned to Pakistan after eight years in exile in October 2007.
Bhutto’s Oxford-educated son Bilawal Bhutto Zardari, 36, is now leading her Pakistan Peoples Party, founded by her father, and was foreign minister in the last administration of Shehbaz Sharif.
Pakistan has been ruled by military regimes for almost half its history since independence from Britain in 1947. Both former premier Imran Khan and the elder Sharif, Nawaz, have alleged that they were ousted by the military after they fell out with the generals. The army says it does not interfere in politics.
Pakistani ministry, Saudi Airlines ink agreement to facilitate Hajj pilgrims — state media
- Saudi Arabia has allotted Pakistan a Hajj quota of 179,210 pilgrims, to be divided between government and private schemes
- Saudi Airlines will provide travel services for 35,000 Pakistani government-sponsored Hajj pilgrims under the new agreement
ISLAMABAD: Pakistan’s religious affairs ministry has signed an agreement with Saudi Airlines to facilitate travel of Pakistani Hajj pilgrims, Pakistani state media reported on Thursday.
Saudi Arabia has allotted Pakistan a Hajj quota of 179,210 pilgrims, to be divided equally between government and private schemes.
Under the agreement with the Pakistani religious affairs ministry, Saudi Airlines will provide travel services for 35,000 Pakistani government-sponsored Hajj pilgrims, the state-run APP news agency reported.
“The agreement was formalized during a ceremony attended by Sultan Al-Harbi, Country Manager of Saudi Airlines in Pakistan, and Dr. Syed Ata-ur-Rehman, Additional Secretary of the Ministry of Religious Affairs and Interfaith Harmony,” the report read.
“This collaboration follows a previous agreement between the Ministry of Religious Affairs and Pakistan International Airlines (PIA), which also pledged travel arrangements for 35,000 pilgrims as part of this year’s Hajj operations.”
The religious affairs ministry has also signed an agreement with the Pakistan’s National Testing Service (NTS), which will hold exams for the selection of supervisors and assistants for next year’s pilgrimage, the ministry said this month.
Pakistan selects hundreds of assistants and doctors from federal and provincial government departments via a competitive process every year to facilitate local pilgrims in performing the rituals of the annual pilgrimage in Saudi Arabia. The ministry said it would “soon” announce the selection through an advertisement.
The Pakistani government approved a new Hajj policy in November.
The cost of next year’s Hajj under the government scheme is expected to range between Rs1,075,000 to Rs1,175,000, while an additional cost for the sacrifice of animals during the pilgrimage will be Rs55,000, according to the ministry.
The first installment of Hajj dues, amounting to Rs200,000, have to be deposited at the time of the application, while the second installment of Rs400,000 will be paid within ten days of the balloting and if your name is picked in the lucky draw. The remaining amount can be paid by Feb. 10 next year.
