Saudi ambassador honors Pakistani policewoman for heroic rescue, offers royal invitation to kingdom

Saudi ambassador honors Pakistani policewoman for heroic rescue, offers royal invitation to kingdom
In this handout photo, taken and released by Embassy of Saudi Arabia, Saudi ambassador to Pakistan Nawaf bin Saeed Al-Malki gestures for a photo with Syeda Shehrbano Naqvi, an assistant superintendent with Punjab police, at the Saudi embassy in Islamabad on March 1, 2024. (Photo courtesy: X/@KSAembassyPK)
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Updated 01 March 2024
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Saudi ambassador honors Pakistani policewoman for heroic rescue, offers royal invitation to kingdom

Saudi ambassador honors Pakistani policewoman for heroic rescue, offers royal invitation to kingdom
  • ASP Shehrbano Naqvi safely extracted a woman from an enraged blasphemy mob in Lahore last month
  • She received widespread acclaim from the general public and was also praised by Pakistan’s army chief

ISLAMABAD: The Saudi ambassador to Pakistan, Nawaf bin Saeed Al-Malki, praised a female Pakistani police officer for her timely intervention that saved a woman surrounded by an enraged blasphemy mob in the eastern city of Lahore, extending a royal invitation to her for a visit to the kingdom.
Assistant Superintendent of Police (ASP) Shehrbano Naqvi received widespread acclaim from politicians, officials and the general public after a social media video showed her rescuing a woman wearing a dress with Arabic inscriptions, which some people mistook for verses from the Holy Qur’an.
Naqvi, who safely extracted the woman from the crowd, later clarified that the dress bore no sacred inscriptions, featuring only the Arabic word “halwa.”
According to the Associated Press of Pakistan (APP) news agency, during a meeting at the embassy, the Saudi envoy commended Naqvi’s selfless devotion that defused the volatile situation.
He also extended an invitation to her to visit the kingdom.
“The Saudi Ambassador to Pakistan praised the bravery of the police officer and assured her that the Saudi government would cover the expenses of her and her family’s trip to Saudi Arabia as honored guests,” reported the APP.
Independent Urdu, quoting an embassy spokesperson, revealed that Naqvi, along with her family, would be visiting Riyadh as royal guests before performing Hajj.
Prior to her meeting with the Saudi diplomat, Pakistan’s army chief General Asim Munir also invited Naqvi to his office to commend her dedication.
In the past, blasphemy charges have triggered mob lynchings in the country, with politicians assassinated, lawyers murdered and students killed over unverified accusations.


Pakistan consumer inflation to remain stable in February — finance ministry

Pakistan consumer inflation to remain stable in February — finance ministry
Updated 6 sec ago
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Pakistan consumer inflation to remain stable in February — finance ministry

Pakistan consumer inflation to remain stable in February — finance ministry
  • Inflation anticipated to remain within range of 2.0-3.0% for February, prospects of a slight increase to 3.0-4.0% by March 
  • Inflation has eased since last year with CPI coming in at 2.4% in January compared to 24% in the same period last year

ISLAMABAD: Pakistan’s consumer inflation was expected to remain stable in February and maintain a downward trajectory compared to the previous year, the finance ministry said in its monthly economic outlook report on Thursday.

“Inflation is anticipated to remain within the range of 2.0-3.0% for February 2025, however, there are prospects of a slight increase to 3.0-4.0% by March 2025,” the report said.

Inflation has eased since last year with CPI coming in at 2.4% in January compared to 24% in the same period last year.

Authorities have credited the downward trend to economic stabilization under a $7 billion International Monetary Fund program secured last summer.

An IMF mission is due to arrive in Islamabad next week for the first review of the global lender’s facility.

“The primary surplus is expected to improve further in the coming months,” the ministry said, pointing to one of the benchmarks identified by the IMF.

The report also said that foreign remittances, a crucial lifeline for Pakistan’s economy, were expected to rise.

“Workers’ remittances recorded robust inflows of $20.8 billion during July-Jan FY2025, marking a 31.7% increase over $15.8 billion last year,” the ministry said.


Pakistan, UAE to sign key agreements as Abu Dhabi crown prince arrives for first official visit

Pakistan, UAE to sign key agreements as Abu Dhabi crown prince arrives for first official visit
Updated 21 min 13 sec ago
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Pakistan, UAE to sign key agreements as Abu Dhabi crown prince arrives for first official visit

Pakistan, UAE to sign key agreements as Abu Dhabi crown prince arrives for first official visit
  • Sheikh Khaled bin Mohamed bin Zayed Al Nahyan will visit Islamabad with senior officials and businessmen
  • UAE is Pakistan’s third-largest trading partner after China and US and a major source of foreign investment

KARACHI: Pakistan and the United Arab Emirates are expected to sign several memoranda of understanding (MoUs) as Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan arrives on his first official visit to the South Asian country today, Thursday, state media said.

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 Gulf country’s foreign ministry.

Sheikh Al Nahyan will be accompanied by a high-level delegation of ministers, senior officials, and business leaders during his visit to Islamabad.

“At the invitation of PM @CMShehbaz, Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, will embark on his first official visit to Pakistan on Thursday,” state-owned Radio Pakistan said in a social media post on Thursday.

The foreign office announced on Wednesday several agreements and memoranda of understanding would be signed during the visit “to bolster the existing robust framework for long-term collaboration in multifaceted sectors.”
 
The foreign office said the crown prince will engage in wide-ranging interactions with the Pakistani leadership to “exchange views on matters of mutual interest, reinforce historical bonds, and promote economic as well as investment cooperation.”

Pakistan and the UAE have stepped up efforts in recent years to strengthen economic relations. Last year the two countries signed multiple agreements exceeding $3 billion for cooperation in railways, economic zones, and infrastructure development.

The crown prince’s visit comes as Pakistan pursues economic diplomacy with several Gulf and Central Asian nations and treads a tricky path to economic recovery while being bolstered by a $7 billion IMF bailout program. 

Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.

It is also home to more than a million Pakistani expatriates, making it the second-largest Pakistani expatriate community worldwide and a major source of foreign workers’ remittances.


$2.2 million lost daily as 600 Iranian trucks stuck at Pakistan border, senate body told

$2.2 million lost daily as 600 Iranian trucks stuck at Pakistan border, senate body told
Updated 27 min 36 sec ago
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$2.2 million lost daily as 600 Iranian trucks stuck at Pakistan border, senate body told

$2.2 million lost daily as 600 Iranian trucks stuck at Pakistan border, senate body told
  • Pakistan has mandated Iranian transporters to provide bank guarantee equivalent to value of duties, taxes on goods
  • Due to new rules, around 600 Iranian trucks stuck at Pakistan border, costing traders about $100 per day per truck

ISLAMABAD: A representative from Tehran told a Pakistani parliamentary panel this week an estimated daily economic loss of $2.2 million was being caused by Iranian trucks stuck on the border with Pakistan over the past six months due to new customs rules, a press release said. 
Pakistan last year made it compulsory for Iranian transporters to provide a bank guarantee equivalent to the customs duties and taxes imposed on goods being delivered to the National Logistics Corporation (NLC) Dry Port Quetta via Taftan, a border crossing with Iran. Tehran does not demand similar guarantees from Islamabad.
“One of the most pressing issues discussed was the ongoing crisis at the Pakistan-Iran border, where over 600 trucks carrying trade goods have been stuck due to customs officials demanding court orders,” the Senate Standing Committee on Finance said in a press release after its meeting. 
The Iranian representative at the meeting said each truck carried goods worth approximately $11,000 and the delay was costing traders about $100 per day per truck, which ultimately raised the price of goods for consumers. 
“The drop in the number of trucks crossing the border in the past six months has led to an estimated daily economic loss of $2.2 million,” the statement quoted the Iranian official as saying. 
The senate committee would now write a letter to Prime Minister Shehbaz Sharif urging him to take up the matter at the next cabinet meeting.
“This issue has reached a critical point. It is not only a matter of economic losses but also a matter of national pride. The situation is deeply concerning for the country as a whole,”  said Saleem Mandiwalla, the chairman of the committee. 
Pakistan imports from Iran stood at $943.29 million during 2023, according to the United Nations COMTRADE database on international trade. Official figures for current annual trade were not available but local media outlet Business Recorder, citing Iran’s ambassador to Pakistan, last year reported bilateral trade worth over $2 billion.
Earlier this month, Pakistan and Iran signed a memorandum of understanding aimed at increasing bilateral trade volume to $10 billion.
Pakistan and Iran have had a history of rocky relations despite a number of commercial pacts, with Islamabad being historically closer to Saudi Arabia and the United States.
Their highest-profile agreement is a stalled gas supply deal signed in 2010 to build a pipeline from Iran’s South Fars gas field to Pakistan’s southern provinces of Balochistan and Sindh.
Despite Pakistan’s dire need of gas, Islamabad has yet to begin construction of its part of the pipeline, citing fears over US sanctions — a concern Tehran has rejected.
Pakistan said it would seek waivers from the US, but Washington has said it does not support the project and warned of the risk of sanctions in doing business with Tehran.
Despite facing possible contract breach penalties running into the billions of dollars, Islamabad last year gave the go-ahead for construction of an 80-km (50-mile) stretch of the pipeline.


Pakistan and Japan hold counterterrorism consultations in Tokyo

Pakistan and Japan hold counterterrorism consultations in Tokyo
Updated 27 February 2025
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Pakistan and Japan hold counterterrorism consultations in Tokyo

Pakistan and Japan hold counterterrorism consultations in Tokyo
  • The two sides discuss capacity-building initiatives and technology-based security solutions
  • Japan is also Pakistan’s development partner, providing loans, grants and technical assistance

ISLAMABAD: Pakistan and Japan held counterterrorism consultations in Tokyo on Wednesday, focusing on technology use and capacity-building initiatives, according to a statement by the foreign office in Islamabad.
Pakistan and Japan share a multifaceted relationship, with their partnership spanning various sectors, including political collaboration, economic exchange and development assistance.
Their counterterrorism cooperation is primarily centered on intelligence-sharing, capacity-building and financial measures rather than direct military collaboration.
“The 4th Round of Pakistan-Japan Counter-Terrorism Consultations was convened in Tokyo on 26 February 2025,” the foreign office said. “During the discussion, the two sides assessed evolving terrorist threats at national and regional level and reiterated their resolve to combat terrorism in all forms and manifestations.”
“Both sides explored areas for greater bilateral cooperation, including capacity-building initiatives and solutions based on emerging technologies,” it added.
During the discussions, the Pakistani side briefed its counterparts on recent policy measures and enforcement actions, highlighting progress in countering terrorism financing, dismantling militant networks and enhancing border security.
Japan has not faced any major threat from militant groups in recent years, but its citizens have been targeted abroad, including in Pakistan. In April last year, five Japanese autoworkers narrowly survived when their van was targeted by a suicide bomber in Karachi.
Despite such security concerns, trade and investment remain a cornerstone of Pakistan-Japan relations. Additionally, Japan continues to be a significant development partner, providing substantial loans, grants and technical assistance to support Pakistan’s infrastructure and social projects.


IMF team to visit Pakistan next week for $7 bln bailout review

IMF team to visit Pakistan next week for $7 bln bailout review
Updated 27 February 2025
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IMF team to visit Pakistan next week for $7 bln bailout review

IMF team to visit Pakistan next week for $7 bln bailout review
  • IMF team usually spends around two weeks to review fiscal reforms and policy
  • Separate IMF team is visiting Pakistan to discuss around $1 billion in climate financing 

ISLAMABAD: A mission from the International Monetary Fund (IMF) will arrive in Pakistan next week, finance minister Muhammad Aurangzeb said on Wednesday, with a first review of a $7 billion bailout program due in March.

Islamabad secured the $7 billion Extended Fund Facility (EFF) last summer as part of an economic recovery plan.

Pakistan’s economy had stabilized and now needs to focus on an export led growth, the finance minister said.

The IMF team usually spends around two weeks to review fiscal reforms and policy.

A separate IMF team is visiting Pakistan to discuss around $1 billion in climate financing on top of the EFF.

That disbursement will take place under the IMF’s Resilience and Sustainability Trust, created in 2022 to provide long-term concessional cash for climate-related spending, such as adaptation and transitioning to cleaner energy.