ISLAMABAD: Pakistan’s Planning Minister Ahsan Iqbal on Wednesday expressed optimism the next phase of the China-Pakistan Economic Corridor (CPEC) would bring advanced manufacturing technologies to the country that would help strengthen its industrial base and create more employment opportunities.
CPEC, a collection of multibillion-dollar infrastructure projects in Pakistan funded by China, is a major part of Beijing’s Belt and Road Initiative, aimed at increasing trade and stimulating economic growth across Asia and beyond.
The first phase of the corridor project primarily concentrated on addressing Pakistan’s energy shortage and included the construction of roads and railways to improve connectivity.
The second phase, often referred to as CPEC 2.0, aims to develop special economic zones, improve transportation networks and the promote industrial cooperation between China and Pakistan to foster economic development.
“CPEC 2.0 represents a broader and more ambitious scope,” Iqbal said while addressing an event in Islamabad. “This new phase will bring advanced manufacturing technologies to Pakistan, enhance our industrial base and create numerous job opportunities for our youth.”
Iqbal said the focus in the next CPEC stage was going to shift beyond infrastructure development to industrial relocation, agricultural modernization, cooperation in science and technology, job creation and enhancing the socioeconomic well-being of people.
He maintained Pakistan wanted to improve food security and uplift farmers’ livelihood through CPEC 2.0, adding it would ensure a sustainable and prosperous future for the agriculture sector by adopting modern production techniques and technologies.
He also noted that China-Pakistan cooperation in the fields of science and technology would drive innovation, fostering a knowledge-based economy in the latter country that would be able to compete globally.
“With the help of China, we will have 200,000 youth trained annually in information technology-related skills that will provide Pakistan the human resource that is necessary to leverage the full potential of our youth to make Pakistan an information powerhouse,” he added.
The minister hoped that CPEC 2.0 would help attract foreign direct investment in export-oriented industries, making Pakistan a reliable destination for exports.
“Our future lies in how fast we go from $30 billion to $100 billion export and creating a sound macroeconomic platform,” he added.
Iqbal explained the trust of international investors depended on four prerequisites that every successful economy had to achieve.
“These are establishing peace, ensuring political stability, safeguarding the continuity of economic policies and demonstrating continuous commitment to reform,” he added.
The minister said the development of Gwadar Port and Free Trade Zone under CPEC 2.0 could further promote regional connectivity and economic integration.
He reiterated the next CPEC stage would herald a shift from a government-to-government model to a business-to-business framework, inviting greater private sector participation and involvement.
Pakistan eyes advanced manufacturing technologies in next stage of corridor project with China
https://arab.news/jjjzq
Pakistan eyes advanced manufacturing technologies in next stage of corridor project with China
- Pakistan’s planning minister says China will help train 200,000 Pakistani youth annually in IT skills
- Ahsan Iqbal says Pakistan’s future depends on increasing exports from $30 billion to $100 billion
Islamabad to host first annual Overseas Pakistanis Convention today
- Convention aims to recognize overseas Pakistanis’ contributions to economy, says state media
- Pakistan expects to receive more than $35 billion in foreign remittances this year through June
ISLAMABAD: Islamabad will host its first-ever Overseas Pakistanis Convention today, Sunday, to recognize expatriates’ contribution to the national economy and address their issues, state-run media reported.
Remittances sent by overseas Pakistanis are crucial for the South Asian country as it navigates a tricky path to recovery from a macroeconomic crisis that has drained its revenue. Pakistan expects to receive more than $35 billion in remittances this year through June, with overseas Pakistanis remitting a record $1.3 billion in February.
The three-day convention will be held in Pakistan’s capital from Apr. 13-15.
“It [convention] is aimed at recognizing the contributions of overseas Pakistanis to the national economy,” state broadcaster Radio Pakistan reported.
It said the government will grant the status of “state guests” to overseas Pakistanis attending the convention, adding that special arrangements are being made to welcome them at the country’s airports.
“The Overseas Pakistanis Convention will provide a platform where overseas Pakistanis, government representatives, and national institutions will come together under one roof,” it said.
Various government departments have set up help desks to provide information, guidance and services to overseas Pakistanis at a single location, it said.
“This reflects the Government’s strong commitment to listening to, understanding and promptly addressing the problems of overseas Pakistanis,” the state broadcaster said.
Minister for Overseas Pakistanis Chaudhry Salik Hussain expressed the government’s determination to work for the welfare of overseas Pakistanis and address their problems in a video message.
“Remittances sent by overseas Pakistanis support hundreds of thousands of Pakistanis,” Hussain said. “The significant increase in remittances in recent months reflects that you have trust in the Pakistani government.”
Pakistan calls for new equilibrium in ties with US based on trust, ground realities
- Pakistan’s planning minister meets US congressional delegation in Islamabad to discuss bilateral ties, strategic partnership
- Ahsan Iqbal highlights need for US to understand Pakistan’s socioeconomic challenges after two US-led wars in the region
ISLAMABAD: Pakistan’s Planning Minister Ahsan Iqbal this week called for establishing a new equilibrium in ties with the United States (US) based on mutual trust, ground realities and development, state-run Associated Press of Pakistan (APP) said.
Ties between Islamabad and Washington, once close allies during the Cold War era and after the Sept. 11, 2001 attacks, have remained strained in recent years. American officials suspected Pakistan supported the Afghan Taliban in regaining Kabul in August 2021 after 20 years of war, damaging ties with Islamabad. Pakistan denies the allegations strongly.
The latest statement came from Iqbal while he met a US congressional delegation led by Jack Bergman, US representative from Michigan’s first congressional district, along with other representatives Thomas Richard Suozzi, Jonathan L. Jackson and other senior US officials in Islamabad.
“In the realities of new geopolitics, there is a need to establish a new equilibrium in Pak-US relations based on ground realities, mutual trust and development-focused partnership,” APP reported Iqbal as saying on Saturday.
The state media said that the meeting between the two sides focused on strengthening Pakistan-US bilateral relations, particularly in the realm of development cooperation and future collaboration across various sectors.
“Ahsan Iqbal highlighted the need to have an understanding of Pakistan’s socio-economic challenges in the aftermaths of the two US-led wars in the region,” the APP said.
Citing his own academic experience in the US, Iqbal acknowledged the transformative impact of American higher education in shaping global leaders and innovators.
The minister called for the establishment of campuses of top-tier American universities in Pakistan, assuring his government would fully facilitate the move.
The American delegation thanked Iqbal for the warm welcome accorded to them, the APP said, adding that they acknowledged Pakistan’s “immense potential” across various sectors and stressed the need to engage the private sector to unlock investment opportunities and build investor confidence.
“The delegation reaffirmed their commitment to strengthening the strategic relationship between the two countries and enhancing collaboration in key areas,” the APP said.
Pakistan and Washington have recently moved closer after Islamabad aided Washington in apprehending a highly wanted Daesh operative last month. Both countries have since spoken regularly about the need to collaborate in counter-terrorism operations.
Pakistani envoy says bilateral trade with UAE crossed $10.9 billion in FY24
- Remittances from UAE expected to surge to $7 billion this fiscal year, says Pakistan’s Ambassador to UAE Faisal Tirmizi
- Says numbers reflect strong economic partnership between nations, Pakistani diaspora’s efforts to support UAE’s economy
ISLAMABAD: Pakistan’s bilateral trade with the United Arab Emirates (UAE) surpassed $10.9 billion during the fiscal year 2023-24, the country’s envoy to the Gulf country said this week, noting that the figure represented the strong economic partnership both nations enjoyed.
Pakistan and UAE have both moved closer in recent months to establish a stronger economic partnership. In January 2024, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure.
The UAE is Pakistan’s third-largest trading partner after China and the United States and a major source of foreign investment valued at over $10 billion in the last 20 years, according to the UAE’s foreign ministry.
“Pakistan’s Ambassador to the UAE Faisal Tirmizi revealed that bilateral trade between Pakistan and the UAE exceeded $10.9 billion in the fiscal year 2023–24, including both goods and services,” UAE’s state-run news agency WAM reported on Friday.
Tirmizi also disclosed that remittances from the Pakistani community in the UAE reached $6.7 billion in 2024, adding that they are expected to surpass $7 billion in 2025.
Tirmizi revealed that goods trade between the two countries during the fiscal year 2023–24 reached $8.41 billion, with Pakistan’s exports rising by 41.06% to $2.08 billion while imports from the UAE declined by 14.45% to $6.33 billion, resulting in a 28.28% reduction in the trade deficit.
In the services sector, he said total trade stood at $2.56 billion, marking a 20.54% year-on-year increase.
Tirmizi noted that during the period July 2024 to January 2025, goods trade rose by 21.63%, with Pakistan’s exports growing by 7.53%, indicating sustained momentum in economic engagement.
“These figures reflect not only the strength of our economic partnership but also the vital role played by the Pakistani diaspora in supporting the national economy,” Tirmizi said.
The Pakistani envoy said there are nearly 19 Emirati companies currently operating in Pakistan, adding that the UAE has invested significantly in Pakistan’s key sectors such as communications, services, tourism, information technology, oil and gas, housing, banking, and real estate.
He pointed out that leading UAE companies Abu Dhabi Ports Company and DP World’s had signed agreements related to port operations, including the development of Karachi Port Trust (KPT) and related railway infrastructure projects.
“These investments demonstrate the UAE’s deep and long-term commitment to Pakistan’s growth and connectivity,” he added.
Multan Sultans pledge donations to Palestinian charities for every six and wicket
- In a PSL contest on Saturday, Quetta Gladiators defeated Peshawar Zalmi by 80 runs
- Karachi Kings also chased down Multan Sultans’ total of 234/3, securing a four-wicket victory
KARACHI: Multan Sultans, a franchise in the Pakistan Super League (PSL), have announced a charitable initiative to support the Palestinian cause during the ongoing season, saying the team will donate Rs100,000 ($356) to Palestinian charities for every six hit and every wicket taken by their players.
The PSL, Pakistan’s premier T20 cricket league, enjoys immense popularity nationwide, drawing massive crowds and viewership.
The league has become a significant platform for cricketing talent and social initiatives.
“We [Multan Sultans] have decided that in this [Pakistan Super League] season, we will support charity [foundations] in Palestine,” Ali Khan Tareen, the franchise owner, said in a video message.
“We have decided, on behalf of our batters, that whenever any player from Multan Sultans hits a six, we will donate Rs100,000 to Palestinian charities,” he added. “Our bowlers also wanted to be a part of this [initiative], so we have decided that we will donate Rs100,000 to Palestinian charities, especially those working for children, on every wicket.”
The PSL, which kicked off in a star-studded ceremony in Rawalpindi on Friday, has once again captivated fans with thrilling matches and meaningful off-field initiatives.
On Saturday, Quetta Gladiators delivered a commanding performance, defeating Peshawar Zalmi by 80 runs. Quetta posted a formidable total of 216/3, with Saud Shakeel scoring 59 runs. In response, Zalmi were bowled out for 136, with Abrar Ahmed taking 4 wickets for 42 runs.
In another high-scoring encounter, Karachi Kings chased down Multan Sultans’ total of 234/3, securing a four-wicket victory. James Vince led the charge for Karachi with a blistering 101 off 43 balls.
Pakistan confirms killing of eight nationals in Iran, urges regional counterterrorism strategy
- Baloch separatists have claimed responsibility for killing the victims, who reportedly worked as auto mechanics
- Pakistani authorities say they are aware of the incident and are in contact with relevant Iranian officials
ISLAMABAD: Pakistan confirmed late Saturday night the killings of eight of its nationals in Iran’s Sistan-Baluchestan province, with Prime Minister Shehbaz Sharif emphasizing the need for all regional countries to come together to devise and enforce a coordinated counterterrorism strategy to eliminate militant violence.
The news of the killings first emerged in local media in the evening, though the country’s foreign ministry and federal authorities did not issue immediate statements.
However, the foreign office later confirmed the development in response to media queries.
“We are aware of this tragic incident and are in touch with Iranian authorities,” said spokesperson Ambassador Shafqat Ali Khan. “We will comment once facts are established and confirmed details are available.”
Khan added that Pakistan’s embassy in Tehran and consulate in Zahedan had been in constant contact with the relevant Iranian authorities over the incident.
In a separate statement, Prime Minister Shehbaz Sharif expressed grief over the killing of the eight Pakistani nationals and voiced concern over the attack on Iranian soil.
“Terrorism is a scourge that is devastating for all countries in the region,” he said. “All regional states must implement a coordinated strategy to root out terrorism.”
Sharif urged the Iranian government to swiftly apprehend the perpetrators and ensure they are held accountable.
“The Iranian government must bring those responsible to justice and share the reasons behind this heinous act with the public,” he continued.
The prime minister also directed Pakistan’s foreign ministry to remain in contact with the victims’ families and instructed the embassy in Tehran to ensure the safe repatriation of the bodies.
Earlier in the day, Afghanistan’s Khaama Press News Agency reported the attack took place in the early hours of the day in a village in Mehrestan district, located near the Iran-Pakistan border. The outlet said the victims were auto mechanics.
However, the separatist Balochistan National Army (BNA) claimed responsibility for the attack later in the day, alleging that the slain workers were members of Pakistan’s premier spy agency.
Pakistan’s southwestern Balochistan province, which borders Iran and Afghanistan, has faced a low-level insurgency for nearly two decades. Baloch separatist groups accuse the central government of exploiting the region’s natural resources, such as gold and copper, without benefiting the local population.
Islamabad denies the allegations, saying it is committed to improving the lives of Baloch residents through various development projects.
Thousands of Pakistanis, mostly from economically disadvantaged regions, frequently cross into Iran to take up informal work in sectors such as vehicle repair, construction and agriculture.
In January last year, nine Pakistani laborers were killed and three critically injured in a similar attack in Saravan city, also located in Iran’s southeastern border region.
The victims in that case had also been working at an auto repair shop.
Last year’s killings took place at a time when Pakistan and Iran were trying to mend diplomatic ties following tit-for-tat missile and drone strikes.
