In veiled dig at West, China-led SCO calls for countering protectionist policies, sanctions

This handout photograph taken on October 16, 2024 and released by Pakistan's Press Information Department (PID) shows Pakistan's Prime Minister Shehbaz Sharif (C front) posing for a group picture with the heads of the delegate members during the Shanghai Cooperation Organisation (SCO) summit, in Islamabad. The SCO comprises China, India, Russia, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Belarus -- with 16 more countries affiliated as observers or "dialogue partners". (AFP)
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Updated 16 October 2024
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In veiled dig at West, China-led SCO calls for countering protectionist policies, sanctions

  • China and West have been at loggerheads over tariffs imposed on Chinese products
  • Shanghai Cooperation Organization says protectionist trade measures contrary to WTO rules

ISLAMABAD: A China-led 10-state regional group criticized what it called protectionist trade measures on Wednesday, part of an intensifying standoff between Beijing and Western countries over tariffs on Chinese products.

The Shanghai Cooperation Organization (SCO), a Eurasian security and political group, also hit out at “unilateral sanctions” as member states Iran and Russia face curbs on trade.

The criticism came in a joint statement, following a heads of government meeting of the SCO in Islamabad, signed by 10 countries, including China, Russia, Iran, India and host Pakistan.

The statement said that the 10 member states, represented by seven prime ministers, “consider it important to continue joint efforts to counter protectionist trade measures that are contrary to WTO rules.”

The United States and Canada have increased tariffs on Chinese products such as electric vehicles, aluminum and steel, and the European Union is set to follow suit. Beijing has termed the moves discriminatory, and responded with similar actions as the standoff intensifies.

The SCO also said that “unilateral application of sanctions” is against international law and has an impact on third countries.

Russia and Iran, both members of the SCO, face sanctions from the West. Both possess some of the world’s largest energy resources.

Sanctions have meant that smaller countries have shied away from trade with the two, even as larger more influential economies, such as China and India, continue to purchase energy from them.

Energy-starved Pakistan does not import gas or fuel from neighboring Iran despite its cost-effectiveness, and a gas pipeline between the two has stalled due to Islamabad fearing US sanctions.

’EXPAND BRI’

Earlier at the meeting, Pakistan’s Prime Minister Shehbaz Sharif called for the expansion of China’s Belt and Road Initiative (BRI).

“Flagship projects like the Belt and Road Initiative of President Xi Jinping ... should be expanded focusing on developing road, rail and digital infrastructure that enhances integration and cooperation across our region,” Sharif said in his speech as the chair of the meeting.

The BRI is a $1 trillion plan for global infrastructure and energy networks that China launched a decade ago to connect Asia with Africa and Europe through land and maritime routes.

More than 150 countries, including Russia, have signed up to participate in it.

Beijing’s rivals see the BRI as a tool for China to spread its geopolitical and economic influence.

Western countries, under the G7 platform, last year announced a $600 billion rival connectivity infrastructure development plan.

The China-Pakistan Economic Corridor (CPEC) is a part of the BRI and has seen Beijing pump in billions of dollars into the South Asian country for road networks, a strategic port and an airport. 


New warehouse fire breaks out in Karachi as factory blaze continues for second day

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New warehouse fire breaks out in Karachi as factory blaze continues for second day

  • Karachi hosts thousands of industrial units but struggles with outdated firefighting infrastructure
  • The new warehouse fire near Mauripur follows factory blaze in Landhi that injured five on Sunday

KARACHI: A fire broke out at an oil warehouse near Karachi’s Mauripur truck terminal on Monday, rescue officials said, as firefighters continued battling a separate blaze that erupted a day earlier at the city’s Landhi Export Processing Zone and has yet to be fully extinguished.
Karachi, Pakistan’s financial hub, is home to thousands of industrial units but suffers from outdated firefighting infrastructure and lax safety enforcement.
“Fire and rescue teams were dispatched with one ambulance and two fire brigade trucks immediately upon receiving the alert,” Rescue 1122 said in a statement. “Efforts are under way to bring the blaze under control.”
Meanwhile, firefighting operations at the Landhi zone, which began on Sunday, entered their second day, with flames still active inside some of the affected factories.
Authorities said the fire has been partially contained but full extinguishment and cooling may take additional time.
At least five people were injured on Sunday after part of a building collapsed at the industrial site, which houses multiple textile factories, officials confirmed.
The injured were moved to a nearby hospital.
A total of 11 fire brigade trucks and a snorkel were involved in efforts to control the blaze, which were hindered by thick smoke and water shortages in the city of over 20 million.
Hundreds of fire incidents are reported every year in Karachi.
Last November, a shopping mall blaze killed a dozen people.
In April 2023, four firefighters died responding to a garment factory fire, and in 2021, a chemical factory blaze claimed 10 lives.
The deadliest such incident in the city’s history occurred in 2012, when 260 workers were killed in a garment factory fire.


Inside Islamabad’s thriving farmers market, where nature meets community

Updated 09 June 2025
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Inside Islamabad’s thriving farmers market, where nature meets community

  • 79 approved sellers selected through rigorous vetting process that includes soil and water testing, on-site visits to farms
  • Many vendors have been displaying at 12-year-old market for years, new entrepreneurs have also found their footing 

ISLAMABAD: Every Saturday morning, a quiet corner of Pakistan’s capital comes alive with the earthy scent of fresh produce, the hum of friendly chatter and the unmistakable feel of community. 

This is the Islamabad Farmers Market, now more than a decade old and having grown from a humble initiative into a thriving hub of sustainability, entrepreneurship, and local connection.

Launched in 2013 with just six vendors, the market now hosts 79 approved seller, each selected through a rigorous vetting process that includes soil and water testing as well as on-site visits to farms. 

The aim? To keep the food chain clean, ethical, and transparent.

“The main goal was to eliminate the middleman and help small-scale farmers and producers connect directly with customers,” said Ali Raza, a representative of the market. “Today, we have created a trusted space for clean, organic, and ethical products.”

Each stall at the market tells a different story. Beneath canopies strung with fairy lights and shaded by leafy trees, you’ll find everything from heirloom tomatoes and farm-fresh eggs to artisan sourdough and wild honey from the mountains.

Among the market’s earliest supporters is Naghma, a 70-year-old anthropologist and environmentalist who only gave her first name. 

A regular since its inception, she now sells her homemade hummus and baba ghanoush, an Arab eggplant dip, prepared with hand-ground tahini, alongside a variety of other organic spreads.

“I come here every Saturday with three bags and go back with five or six,” she laughed. “I buy all my raw materials here.”

For Naghma, organic eating is more than a preference, it’s a lifelong passion rooted in gardening and the rhythms of the seasons.

“I follow seasons because organic by definition is seasonal,” she said. “So, I make French Boursin cheese. My products, I call them ‘Les Deli De Naghma,’ so there’s a definite French touch.”

The Farmers Market has also become a vital platform for small-scale growers not just from Islamabad, but also more remote northern areas of the country such as northern Gilgit-Baltistan.

Sherazam, the founder of Hunza Organic, is one such vendor who has been displaying at the market for over a decade. On his table: ruby-red dried cherries, sun-cured apricot oil, and jars of thick wild honey, all harvested by hand and brought straight from the mountains.

“Our clientele knows that our products are pure. Many others also source their raw materials from us,” he told Arab News.

Sherazam said his business model was deeply community-driven.

“In Hunza, everyone farms. The women in my village produce these items, and we handle the packaging in Islamabad,” he added.

“RELIABLE, FRESH, FAMILY-FRIENDLY“

New entrepreneurs are also finding their footing at the Islamabad Farmer’s market. 

Waleed Noor Malik, representing “Guy Knows Food,” a popular kimchi brand, said the market had helped launch their business and acted as an accelerator. 

“We started selling kimchi here because we couldn’t find a brand in Pakistan that matched our taste,” he said. “Sampling at the market really helps build our brand. People try it here and often follow up on social media.”

Engineer-turned-farmer, who manages 300 beehives and a young olive orchard near Taxila, shared a similar experience. His small-batch raw honey and extra virgin olive oil are bottled with care and sold directly to those who seek quality over mass production.

“It’s not easy to compete with bulk commercial sellers, but here, people appreciate authenticity,” he said.

Raza, the curator of the market, said many of its vendors had started small, with just a few pots or a home kitchen and now had full storefronts.

“Many people in and around Islamabad, from Chak Shehzad and Barakahu, were producing and running small-scale farms but they didn’t have a platform to sell their fruits and vegetables. So, the main aim was to provide them with a platform,” he added. 

Much of the market’s success hinges on its rigorous commitment to quality. Vendors undergo lengthy screening processes, including environmental checks and farm inspections.

“We look for the soil test, water test, and then we do a site visit,” said Raza. “We make sure that no insecticides, pesticides, or urea are used.”

This transparency has earned the market a loyal following. Dr. Shanza Khan, a dentist and long-time visitor, summed it up simply: 

“The vendors are reliable, and their products are fresh. It’s a very family-friendly environment.”

More than a market, this is clearly a community garden in motion, where each bag of microgreens or bottle of honey is part of a larger story of connection and care for the land. And with the launch of an online platform, the market has extended its reach beyond Saturdays, giving customers access to their favorite organic products throughout the week. For vendors, this means steadier sales and greater visibility in a growing wellness economy.

Another attraction lies at the far end of the market, where food and coffee stalls beckon with the smell of sourdough sandwiches, artisanal cheese, and specialty brews. Some mornings, live music plays in the background, or a spontaneous art therapy session spills onto the grassy space beside the Dino Park. Children run through the park’s dino sculptures while parents sip cappuccinos under the trees.

Mahnoor Omer, a lawyer and regular visitor, has made coming here a weekly ritual. 

“Coffee, sourdough, cheese sandwiches, and sometimes, spontaneous catch-ups with friends,” she said, smiling. 

“It’s a great outlet for home-based growers and vendors from northern areas to bring their produce straight to our kitchens.”


Pakistan National Assembly speaker meets Saudi crown prince, urges deeper ties at Hajj luncheon

Updated 09 June 2025
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Pakistan National Assembly speaker meets Saudi crown prince, urges deeper ties at Hajj luncheon

  • Pakistan National Assembly speaker meets Saudi crown prince, urges deeper ties at Hajj luncheon
  • The Crown Prince reaffirmed his commitment to addressing challenges facing the Muslim world

ISLAMABAD: Pakistan’s National Assembly Speaker Sardar Ayaz Sadiq met Saudi Crown Prince Mohammed bin Salman on Sunday at a luncheon hosted for Muslim leaders visiting the Kingdom for Hajj, expressing hope for even stronger ties between the two countries, according to an official statement.
The meeting underscored a longstanding relationship rooted in economic, diplomatic and military cooperation.
Saudi Arabia has repeatedly come to Pakistan’s aid during financial crises, including through multibillion-dollar deposits in Pakistan’s central bank and deferred oil payment facilities in the past. Such support has helped Islamabad shore up its foreign currency reserves and even unlock International Monetary Fund (IMF) bailout programs during periods of acute external financing pressure.
“Saudi Arabia has always stood by Pakistan in times of adversity,” Sadiq said during the meeting, thanking the crown prince for Riyadh’s consistent backing.
“We hope that ties between Pakistan and Saudi Arabia will grow even stronger,” he added.
According to the National Assembly, Crown Prince Mohammed bin Salman reiterated his commitment to addressing challenges facing the Muslim world.
The speaker’s meeting follows a two-day trip to the Kingdom last week by Prime Minister Shehbaz Sharif, who performed Umrah alongside Army Chief Field Marshal Syed Asim Munir and other senior officials.
During the visit, Sharif thanked Saudi leadership for its role during last month’s military standoff between Pakistan and India and praised Riyadh’s efforts to promote regional and global stability.
Pakistan and Saudi Arabia have also been expanding their economic ties.
In October last year, the two countries signed business-to-business agreements and memoranda of understanding worth $2.8 billion aimed at boosting trade and investment.


Pakistan to unveil economic survey today as National Assembly clears federal budget schedule

Updated 09 June 2025
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Pakistan to unveil economic survey today as National Assembly clears federal budget schedule

  • The economic survey outlines key socio-economic achievements and shortfalls of an outgoing fiscal year
  • The federal budget is scheduled for a vote on June 26, a day before supplementary grants are finalized

KARACHI: Pakistan’s finance chief, Muhammad Aurangzeb, will present the Economic Survey 2024-25 today, Monday, a day after the National Assembly approved the schedule for the upcoming federal budget, according to the state media.

Traditionally released a day before the budget announcement, the economic survey outlines key socio-economic achievements and shortfalls of an outgoing fiscal year. It serves as a snapshot of the country’s economic performance across sectors such as agriculture, industry, services, energy, information technology and telecom, health, education and transport.

The annual document also reviews trends in major economic indicators including inflation, trade and payments, public debt, population, employment, climate change and social protection. Invitations for the launch ceremony at the Pakistan Secretariat in Islamabad were circulated by the finance ministry on Sunday.

“Finance Minister Muhammad Aurangzeb will release the Economic Survey 2024-25 at a ceremony to be held in Islamabad on Monday,” the Radio Pakistan reported.

Meanwhile, the state-run Associated Press of Pakistan (APP) news agency said Speaker of the National Assembly Sardar Ayaz Sadiq had approved the schedule for the upcoming budget sessions for the 2025–26 fiscal year.

According to the schedule, the federal budget will be presented on June 10, followed by a two-day recess. A general debate will begin on June 13 and continue through June 21, with time allocated for all parliamentary parties in line with Assembly rules.

No sitting will be held on June 22. Charged expenditures for the next fiscal year will be taken up on June 23, followed by discussions and voting on Demands for Grants and Cut Motions on June 24 and 25.

The Finance Bill 2025 is scheduled for a vote on June 26, and supplementary grants and related matters will be finalized on June 27.

The federal budget will be announced as Pakistan navigates a fragile economic recovery under a $7 billion International Monetary Fund (IMF) program.

The country’s annual inflation rate rose to 3.5% in May, though officials say the macroeconomic outlook has improved on the back of a stronger current account balance and increased remittances.

Planning Minister Ahsan Iqbal recently said the government had earmarked Rs1 trillion ($3.5 billion) for development projects in the upcoming budget.

Authorities have pledged to maintain macroeconomic stability, advance structural reforms and ensure growth translates into inclusive progress.


Pakistan to unveil Economic Survey 2024-25 on Monday

Updated 09 June 2025
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Pakistan to unveil Economic Survey 2024-25 on Monday

  • The survey will include details about performance and trends of various sectors in outgoing fiscal year
  • The survey will be followed by federal budget, which is expected to lay out targets for macroeconomic stability

ISLAMABAD: Pakistan will unveil its Economic Survey 2024-25 tomorrow, Monday, and detail major socio-economic achievements of the outgoing fiscal year, Pakistani state media reported.

The survey will include details about performance and economic trends of various sectors, including agriculture, industry, services, energy, information technology and telecommunications, capital markets, health, education and transport.

Annual trends of major economic indicators regarding inflation, trade and payments, public debt, population, employment, climate change, and social protection will also be part of the survey.

“Finance Minister Muhammad Aurangzeb will release the Economic Survey-2024-25 at a ceremony to be held in Islamabad,” the Radio Pakistan broadcaster reported.

The survey will be followed by the presentation of the national budget. The earlier dates for the announcement of Economic Survey 2024-25 and federal Budget 2025-26 were June 1 and June 2, respectively, but the government extended the dates to June 6 and June 7.

Pakistan is currently bolstered by a $7 billion International Monetary Fund (IMF) program and is navigating a long path to economic recovery. The country’s annual inflation rate rose to 3.5 percent in May, though its macroeconomic outlook has improved in recent months, supported by a stronger current account balance and increased remittances.

The Pakistani government says it remains committed to maintaining macroeconomic stability, accelerating structural reforms, and ensuring that economic growth translates into real and inclusive progress for all citizens.

Earlier this month, Planning Minister Ahsan Iqbal announced the government has allocated Rs1 trillion ($3.5 billion) for development projects in the upcoming budget for fiscal year 2025-26.