ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb this week reiterated Islamabad’s commitment to provide foolproof security to Chinese nationals, the Finance Division said, amid a surge in attacks on Chinese citizens in the South Asian country.
Pakistani separatist and religiously motivated militants have mounted attacks on Chinese projects in the country in recent years. A suicide blast claimed by the separatist Balochistan Liberation Army (BLA) killed two Chinese nationals in Karachi this month, while five Chinese workers were killed in a suicide bombing in March in northwest Pakistan.
The attacks have forced Beijing, a major ally and investor in Pakistan, to call on Islamabad to ensure security for its citizens. Pakistan has sought to ease Chinese fears, vowing to provide fool-proof security to Chinese nationals working in the country.
On Saturday, Aurangzeb met China’s Vice Minister of Finance, Liao Min, during the 2024 annual meetings of the International Monetary Fund (IMF) and World Bank in Washington where both sides spoke on a range of issues, including economic cooperation and security for Chinese nationals.
“Committed to providing foolproof security to Chinese workers,” the Finance Division said about Aurangzeb’s commitments to the Chinese official. “Shared that the majority of Chinese companies are interested in expanding their investments and increasing employment opportunities in Pakistan.”
The two officials also touched upon economic cooperation between Islamabad and Beijing, with the statement saying Pakistan aims to launch an inaugural Panda bond in the Chinese market to “diversify” its financing base.
A Panda bond issuance would be Pakistan’s first foray into China’s capital markets.
Aurangzeb thanked the Chinese official for Beijing’s help in enabling Pakistan to secure a $7 billion bailout program this year, the Finance Division said.
“Both sides emphasized the need for online payment settlements and integration of the two countries’ payment systems,” the statement added.
Chinese economic assistance has been crucial for Pakistan in recent years, with Beijing pledging over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC) project.
CPEC is a part of the Belt and Road Initiative, a massive China-led infrastructure project that aims to stretch around the globe.
Pakistan reiterates commitment to provide foolproof security to Chinese nationals
https://arab.news/jp9ga
Pakistan reiterates commitment to provide foolproof security to Chinese nationals
- Finance Minister Muhammad Aurangzeb meets China’s Vice Minister for Finance Liao Min in Washington
- Separatist and religiously motivated militants in Pakistan have increasingly targeted Chinese interests in country
Pakistan launches landmark trade route linking China to UAE via Khunjerab Pass
- Consignment from China is expected to reach the UAE in 10 days as compared to 30 days via sea-route
- Traders welcome the development, hoping the arrangement will turn Pakistan into a major hub of trade
KHAPLU, Gilgit-Baltistan: In a first, Pakistan’s National Logistics Corporation (NLC) has launched its maiden multimodal Transports Internationaux Routiers (TIR) transportation, linking China to the United Arab Emirates via the Khunjerab Pass, in a move hailed as a “good omen” for Pakistan’s trade and logistics sectors.
The TIR system, an international customs transit framework, streamlines cross-border trade by enabling goods to move through multiple countries with minimal customs interference.
At over 4,600 meters above sea level, the Khunjerab Pass connects Pakistan’s Gilgit-Baltistan region with China’s Xinjiang province, serving as a strategic gateway for trade between South Asia and Europe.
The pass, situated in the Karakoram Range, has only facilitated bilateral trade in the past, with China primarily importing textiles, agricultural products and daily commodities, while exporting plants and herbs.
“This achievement signifies a major leap forward in the operationalization of the China-Pakistan Economic Corridor (CPEC), utilizing the shortest and most efficient route from China to the Gulf region via Pakistan,” the NLC said in a statement.
“This milestone also reflects a significant step toward ensuring year-round functionality of the Khunjerab Pass, a vital gateway for regional trade,” it added.
The NLC said the journey commenced with one of its trucks, laden with electronic equipment, departing from Kashgar, China, en route to the Jebel Ali Port in Dubai. The first stop was at NLC Dry Port in Sost, where a ceremony marked the historic occasion, it added.
“The cargo container, after being transported via NLC trucks from Kashgar to Karachi, will embark on the sea leg of its journey to its final destination at Jebel Ali Port,” the statement informed.
The consignment from China is expected to reach the UAE in 10 days as compared to 30 days via sea-route.
Traders and local business leaders associated with the Khunjerab Pass welcomed the launch.
“This is a good omen for Pakistan’s economy,” Imran Ali, a former president of the Gilgit-Baltistan Chambers of Commerce, told Arab News over the phone, adding it would particularly benefit the traders in the region and the local community.
“Pakistan will become a major trade hub as China gets access to the Middle East through this route,” he continued. “The economic activities in Gilgit-Baltistan and Gwadar will get a boost and unemployment will end in the region.”
Muhammad Iqbal, president of the Gilgit-Baltistan Importers and Exporters Association, agreed with him.
“The launching of TIR between China and the Middle East through Pakistan will change the fate of the country,” he told Arab News. “The country will make more revenue and the economic conditions of traders and locals will improve.”
According to the Gilgit-Baltistan Collectorate of Customs, a record revenue of Rs9.5 billion ($34.87 million) was collected from the Sost Dry Port during the first two quarters of the fiscal year 2024-25, compared to Rs6.5 billion ($23.4 million) during the same period last year.
Additionally, the anti-smuggling team confiscated goods worth Rs600 million ($2.16 million).
Rain washes out first session on Day 3 of first test between South Africa and Pakistan
- South Africa wants a victory for a place in next year’s World Test Championship final
- The host team claimed a 90-run lead after Markram and Bosch scored half centuries
CENTURION, South Africa: Rain delayed the start of the third day’s play in the first cricket test between South Africa and Pakistan with no play possible before lunch on Saturday.
The entire first session was washed out at SuperSport Park with Pakistan scheduled to resume its second innings at 88-3 – still trailing South Africa by two runs.
South Africa has plenty of time left to press its bid for a place in next year’s World Test Championship (WTC) final.
The home team needs to win one of the two test matches against Pakistan for a guaranteed place in next June’s WTC final at Lord’s.
South Africa claimed a 90-run first innings lead on the back of half centuries from Aiden Markram and debutant Corbin Bosch, who smashed an unbeaten 81 on a dream debut.
Bosch's scintillating knock, which featured 15 fours, was the highest score by a No. 9 batter on debut in test history.
Pakistan had been bowled out for 211 as Bosch claimed a wicket with his first ball and finished with impressive figures of 4-63.
Paceman Dane Paterson took 5-61 on a wicket where both teams have packed their line-ups with four fast bowlers each, going into the game without a specialist spinner.
Afghanistan says its forces targeted ‘several points’ in Pakistan in retaliation for this week’s airstrikes
- The skirmishes mark the latest spike in hostilities on the frontier between Afghanistan and Pakistan
- A Pakistani defense source says fighting along the border led to ‘heavy casualties’ on the Afghan side
KARACHI: Afghan Taliban forces targeted “several points” in neighboring Pakistan in retaliation for Pakistani airstrikes this week, Afghanistan’s defense ministry said on Saturday, marking the latest surge in hostilities along the disputed frontier between the two nations.
The Durand Line, established as the boundary between Afghanistan and British India in 1893, has been a persistent source of contention, with no Afghan government ever recognizing it as an international border. Tensions along this frontier further escalated since the Taliban takeover of Kabul in 2021, further straining relations between the two countries.
The Afghan defense ministry statement did not mention Pakistan, but said the strikes were conducted “beyond the assumptive lines,” an expression used by the authorities in Kabul to refer to the country’s border with Pakistan.
A Pakistani security source acknowledged the attack, saying the skirmishes had injured three soldiers and resulted in “heavy casualties” on the Afghan side.
“Several points beyond the assumptive lines where the attacks in Afghanistan were organized and coordinated from wicked elements’ hideaways, centers and supporters; were targeted in retaliation from the southern side of the country,” the Afghan defense ministry said on X.
The Pakistani security source said around 20-25 members of “Fitna Al-Khwarij,” a reference to the banned Tehreek-e-Taliban Pakistan (TTP), attempted to infiltrate Pakistan’s border in Kurram and North Waziristan districts while “using border posts of the Afghan Taliban.”
The TTP leadership is reportedly based in Afghanistan. Pakistan has frequently accused the Taliban government of facilitating attacks by the militant network against its security forces and civilians, urging Kabul to prevent its territory from being used by such armed factions.
The Afghan Taliban, however, deny these allegations, asserting that Pakistan’s security problems are internal matters that require attention from the Islamabad government.
“Upon failure of the infiltration attempt, TTP members and the Afghan Taliban [forces] opened fire on Pakistani posts using heavy weapons early morning on Dec. 28,” the Pakistani security source said. “Pakistani forces retaliated to this unprovoked fire and there were reports of deaths of more than 15 TTP members and Afghan Taliban forces.”
The border skirmish followed Pakistan’s reported airstrikes in an eastern town of Afghanistan, which targeted alleged TTP hideouts, amid allegations by Pakistani officials of cross-border militant attacks.
Afghan authorities claimed the victims of the strikes included residents from Pakistan’s border regions, who were uprooted during military operations against TTP fighters in recent years, with the United Nations (UN) expressing concern over civilian casualties and urging an investigation.
The Pakistan military, however, pledged to dismantle “terrorist networks” to safeguard its citizens, without acknowledging the airstrikes.
Pakistan weekly inflation increases for third week in a row
- Pakistan’s annual consumer inflation slowed to 4.9 percent in November, lower than the government’s forecast
- Major increase observed in prices of chicken, tomatoes, sugar, vegetable ghee, liquefied petroleum gas and soap
ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), has risen to 5.08 percent in Pakistan on a year-on-year basis, the country’s statistics bureau said this week, with an increase observed in prices of edible items.
The SPI, which comprises 51 essential items collected from 50 markets in 17 cities, is computed on a weekly basis to assess the price movement of essential commodities at shorter interval of time so as to review the price situation in the country.
The SPI for the week ending on Dec. 26 increased by 0.80 percent as compared to the previous week, according to the Pakistan Bureau of Statistics (PBS). This is the third time short-term has increased in the South Asian country. Weekly inflation last decreased by 0.34 percent in Pakistan in the week ending on Dec. 5.
“During the week, out of 51 items, prices of 17 (33.33 percent) items increased, 10 (19.61 percent) items decreased and 24 (47.06 percent) items remained stable,” it said in a report.
Major increase was observed in prices of chicken (22.47 percent), tomatoes (20.75 percent), sugar (2.19 percent), vegetable ghee 1 kilogram (1.17 percent), firewood (0.95 percent), cooking oil 5 liter (0.74 percent), cooked beef and mustard oil (0.69 percent) each, liquefied petroleum gas (0.18 percent) and washing soap (0.09 percent).
The items that recorded a decrease in prices included onions (8.13 percent), potatoes (2.38 percent), bananas (0.68 percent), rice (0.50 percent) and eggs (0.30 percent).
Pakistan’s annual consumer inflation slowed to 4.9 percent in November, lower than the government’s forecast, according to the PBS. The finance ministry had projected inflation would slow to 5.8 percent-6.8 percent in November and ease to 5.6 percent-6.5 percent in December.
Consumer inflation cooled from 7.2 percent in October, a sharp drop from a multi-decade high of nearly 40 percent in May 2023.
Head of coalition party slams ‘foreign interference’ in Pakistani politics, vows to defend nuclear program
- Bhutto-Zardari’s statement comes days after the US imposed sanctions on entities related to nuclear-armed Pakistan’s missile program
- It also follows Trump nominee Richard Grenell’s call for the US administration to push for ex-PM Imran Khan’s release from Pakistan jail
ISLAMABAD: Bilawal Bhutto-Zardari, chairman of a main party in the ruling coalition, on Friday criticized “foreign interference” in Pakistan’s politics, saying that its real target was the South Asian country’s nuclear program.
Bhutto-Zardari’s statement came days after US President-elect Donald Trump’s special envoy nominee Richard Grenell urged President Joe Biden’s administration to use its last days in power to push for former prime minister Imran Khan’s release from prison so he could run for office in Pakistan.
Grenell has been in the news in Pakistan in recent weeks over social media posts calling for the release of Khan. His comments came more than a week after the US State Department imposed sanctions on four entities related to nuclear-armed Pakistan’s long-range ballistic-missile program, including on the state-owned defense agency that oversees the program.
Speaking at his Pakistan Peoples Party rally in Larkana, Bhutto-Zardari said Pakistan was currently facing internal issues, economic crisis and a surge in militancy as well as several difficulties on the external front, which required unity of all political stakeholders.
“No one is worried about Pakistan’s democracy, human rights or about a prisoner in Pakistan,” he said, without naming anyone.
“Imran [Khan] is only an excuse, but the target is Pakistan’s atomic program.”
Bhutto-Zardari said Pakistan’s opponents were looking at the country’s nuclear capability with an “evil eye.”
“They wish that no Muslim country should have such [nuclear] power and they are trying to deprive you of this power some way or the other,” he said.
“As long as the Pakistan Peoples Party is there, we will not let anyone make a compromise on our atomic power.”
Speaking to reporters on Thursday, Pakistan’s Foreign Office Spokesperson Mumtaz Zahra Baloch declined to comment on Grenell’s statement, while Pakistan’s Defense Minister Khawaja Asif this week alleged that Western voices backed by Israel were demanding Khan’s release from prison as part of an “anti-Pakistan campaign.”
Pakistan has been gripped by political unrest and uncertainty since Khan’s ouster from power through a parliamentary no-confidence vote in April 2022. He blames his removal from the PM’s office on his political rivals led by PM Shehbaz Sharif and the all-powerful military. Both reject the charge.
Khan has been in jail since August last year on a slew of cases he says are politically motivated to keep him away from power.
