Malaysian PM to arrive in Pakistan on Wednesday with trade, connectivity on agenda

Malaysian PM to arrive in Pakistan on Wednesday with trade, connectivity on agenda
An undated file photo of Malaysian Prime Minister Dato’ Seri Anwar Ibrahim. (REUTERS/FILE)
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Updated 30 September 2024
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Malaysian PM to arrive in Pakistan on Wednesday with trade, connectivity on agenda

Malaysian PM to arrive in Pakistan on Wednesday with trade, connectivity on agenda
  • Pakistan, Malaysia enjoy a strong bilateral relationship, rooted in shared Islamic values and historical ties
  • Islamabad says the visit provides an important opportunity to further strengthen Pakistan-Malaysia relations

ISLAMABAD: Malaysian Prime Minister Dato’ Seri Anwar Ibrahim will arrive in Pakistan on Wednesday on a three-day visit to strengthen ties in trade, connectivity, energy and other sectors, the Pakistani foreign office said on Monday.

Pakistan and Malaysia enjoy a strong bilateral relationship, rooted in shared Islamic values and historical ties. Since 1957, they’ve fostered economic cooperation, defense collaborations, and cultural exchange. The Pakistan-Malaysia Free Trade Agreement of 2008 boosted trade and investment, while regular high-level visits have solidified their partnership, underpinned by mutual respect and trust.

The Malaysian prime minister will be undertaking the visit from October 2-4 on the invitation of his Pakistani counterpart Shehbaz Sharif, according to the Pakistan foreign office. He will be accompanied by a high-level delegation comprising Malaysian ministers, deputy ministers and senior officials.

“Prime Minister Dato’ Seri Anwar Ibrahim will hold meetings with Prime Minister Muhammad Shehbaz Sharif,” the Pakistani foreign office said in a statement.

“The two sides will discuss a wide-ranging agenda to further strengthen Pakistan-Malaysia ties in diverse fields including trade, connectivity, energy, agriculture, halal industry, tourism, cultural exchanges and people-to-people contacts.”

During the visit, the Pakistani foreign office said, both sides will also discuss regional and global developments. “This visit provides an important opportunity to further strengthen Pakistan-Malaysia relations,” it added.

Bilateral trade between both countries was recorded at $1.5 billion in 2023-24. The major exports of Pakistan to Malaysia include rice, condensate oil, onions, potatoes, home textiles, corn, seafood, and meat, palm oil and its products, petroleum, LNG, computers and laptops, nonwoven wadding, and fiberboard, according to the High Commission of Pakistan in Malaysia.

Tourism between both countries has gained momentum over the past few years and Malaysia currently ranks among the top tourist source countries to Pakistan. Around 160,000 Pakistani nationals were residing in Malaysia and over 3,800 students from Pakistan were also enrolled in Malaysian higher education institutes, making the country the third largest source of international students in Malaysia.

Pakistan is also one of the major workforce source countries for Malaysia in various key sectors including plantation, construction, manufacturing, agriculture and services, it added.


Pakistani forces kill six militants in restive northwest — military

Pakistani forces kill six militants in restive northwest — military
Updated 16 sec ago
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Pakistani forces kill six militants in restive northwest — military

Pakistani forces kill six militants in restive northwest — military
  • The militants were killed in two separate incidents near Pakistan’s border with Afghanistan
  • Pakistan blames surge in militancy on militants operating out of Afghanistan, Kabul denies it

ISLAMABAD: Pakistani security forces have killed six militants in two separate engagements in the country’s northwestern Khyber Pakhtunkhwa (KP) province, the Pakistani military said on Monday.
A militant was killed in an exchange of fire during an intelligence-based operation in North Waziristan’s Dosali area, according to the Inter-Services Public Relations (ISPR), the military’s media wing.
In the second incident, Pakistani forces intercepted a group of militants while infiltrating the country’s border with Afghanistan in the South Waziristan district. Five militants were killed as a result.
“Pakistan has consistently been asking Interim Afghan Government to ensure effective border management on their side of the border,” the ISPR said in a statement.
“Interim Afghan Government is expected to fulfil its obligations and deny the use of Afghan soil by Khwarij [militants] for perpetuating acts of terrorism against Pakistan.”
Khyber Pakhtunkhwa, which borders Afghanistan, has witnessed a number of attacks by the Tehreek-e-Taliban Pakistan (TTP) and other militant groups that targeted security forces convoys and check posts, besides targeted killings and kidnappings of law enforcers and government officials in recent months.
Pakistan has frequently accused neighboring Afghanistan of sheltering and supporting militant groups, urging the Taliban administration in Kabul to prevent its territory from being used by armed factions to launch cross-border attacks.
Afghan officials, however, deny involvement, insisting Pakistan’s security issues are an internal matter of Islamabad.
 


Pakistan Navy test-fires ship-launched ballistic missile ranging 350 kilometers

Pakistan Navy test-fires ship-launched ballistic missile ranging 350 kilometers
Updated 1 min 58 sec ago
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Pakistan Navy test-fires ship-launched ballistic missile ranging 350 kilometers

Pakistan Navy test-fires ship-launched ballistic missile ranging 350 kilometers
  • The missile is capable of striking land and sea targets with ‘high precision’
  • Pakistan, India consider their missile programs as deterrent against each other

KARACHI: Pakistan Navy has successfully test-fired a ship-launched ballistic missile having a range of 350 km and capable of striking both land and sea targets, it said on Monday.
Pakistan sees its missile development as a deterrent against nuclear-armed arch-foe India. Both countries have fought multiple wars since their independence from Britain in 1947.
The two South Asian neighbors have long been developing missiles of varying ranges in a bid to ensure deterrence against possible attacks from each other, with analysts often warning these developments could push the region into an arms race.
“Pakistan Navy conducted a successful flight test of an indigenously developed ship-launched ballistic missile,” the Directorate General of Public Relations (DGPR) of Pakistan Navy said in a statement.
“The weapon system with 350km range is capable of engaging land and sea targets with high precision.”
https://www.youtube.com/watch?v=ikldB3jieWo
The flight test of the weapon system, equipped with a state-of-the-art navigation system and maneuverability features, was witnessed by Chief of Naval Staff Admiral Naveed Ashraf, senior naval officers, scientists and engineers.
President Asif Ali Zardari, Prime Minister Shehbaz Sharif, Chairman Joint Chiefs of Staff Committee General Sahir Shamshad Mirza, Chief of Army Staff General Asim Munir and Chief of Air Staff Air Marshal Zaheer Ahmad Babar Sidhu congratulated the participating navy units and scientists on the development.
 
 


Qatar investment team due in Pakistan this month, PM Sharif says after Doha visit

Qatar investment team due in Pakistan this month, PM Sharif says after Doha visit
Updated 04 November 2024
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Qatar investment team due in Pakistan this month, PM Sharif says after Doha visit

Qatar investment team due in Pakistan this month, PM Sharif says after Doha visit
  • The statement comes days after Sharif visited Qatar seeking to bolster economic cooperation between both nations
  • Before arriving in Doha, Sharif attended the Future Investment Initiative in Riyadh and met the Saudi Crown Prince

ISLAMABAD: Prime Minister Shehbaz Sharif said on Monday a team of the Qatar Investment Authority (QIA) will visit Pakistan this month to set up an information technology (IT) park in the South Asian country.
The statement came days after Sharif visited Qatar while seeking to bolster economic cooperation amid Pakistan’s efforts to boost foreign investment to stabilize its frail $350 billion economy.
Before arriving in Doha, Sharif attended the Future Investment Initiative in Riyadh, Saudi Arabia, where he discussed trade and investment with Saudi Crown Prince Mohammed bin Salman.
Speaking at a meeting of his cabinet, Sharif said a QIA team will visit Pakistan this month, while its chief of Asia-Pacific & Africa Investments, Faisal Bin Thani Al Thani, will also arrive in Islamabad by the end of this month.
“Qatar emir said the same thing. They also suggested setting up an IT park here [in Pakistan],” Sharif told his cabinet members in televised comments.
During his visit, Sharif led delegation-level talks with the Qatari emir before holding a separate meeting with him to discuss a wide array of issues.
“The leaders reviewed the entire spectrum of Pakistan-Qatar relations, exploring potential avenues for enhanced cooperation in trade, potential areas of investment, energy, and culture,” Sharif’s office said last week.
He also met a delegation of the Qatar Businessmen Association (QBA) and invited them to invest in Pakistan’s energy, infrastructure and technology sectors.
The developments came amid Pakistan’s attempts to increase trade and foreign investment after it narrowly escaped a default last year by securing a last-gasp $3 billion financial assistance package from the International Monetary Fund (IMF).
The South Asian country has since sought to promote closer economic ties with regional and international allies to bolster its fragile economy, which has been suffering from a prolonged macroeconomic crisis.
 


Pakistan central bank cuts key rate by 250 bps to 15%

Pakistan central bank cuts key rate by 250 bps to 15%
Updated 04 November 2024
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Pakistan central bank cuts key rate by 250 bps to 15%

Pakistan central bank cuts key rate by 250 bps to 15%
  • Monday’s move follows cuts of 150 bps in June, 100 in July and 200 in September
  • It takes the total policy rate cuts in the country to 700 bps in under five months

KARACHI: Pakistan’s central bank cut its key policy rate by 250 basis points to 15 percent on Monday, it said in a statement, for a fourth straight reduction since June, as the country keeps up efforts to revive a sluggish economy with inflation easing.
Most respondents in a Reuters poll last week expected a cut of 200 bps after inflation moved down sharply from a multi-decade high of nearly 40 percent in May 2023, saying reductions were needed to bolster growth.
Average consumer price index inflation in the South Asian country is 8.7 percent in the current financial year, which started in July, the statistics bureau says. The International Monetary Fund (IMF) expects inflation to average 9.5 percent for the year ending June.
Monday’s move follows cuts of 150 bps in June, 100 bps in July, and 200 in September that have taken the rate from an all-time high of 22 percent, set in June 2023 and left unchanged for a year. It takes the total cuts to 700 bps in under five months.
October inflation came in at 7.2 percent, slightly above the government’s expectation of 6 percent to 7 percent. The finance ministry expects inflation to slow further to 5.5 percent to 6.5 percent in November.
However, inflation could pick up again in 2025, driven by electricity and gas price increases after a new $7-billion IMF bailout, and the potential impact of taxes on the retail, wholesale and the farm sector announced in the June budget to take effect in January 2025, some analysts say.
 


Personal physician of Pakistan’s Imran Khan gives ‘okay’ report after examination allowed — party

Personal physician of Pakistan’s Imran Khan gives ‘okay’ report after examination allowed — party
Updated 04 November 2024
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Personal physician of Pakistan’s Imran Khan gives ‘okay’ report after examination allowed — party

Personal physician of Pakistan’s Imran Khan gives ‘okay’ report after examination allowed — party
  • Dr. Asim Yousaf examines ex-prime minister’s health with a team of doctors from PIMS Hospital
  • Khan has been in jail since August last year and faces more than 200 legal cases since his ouster

ISLAMABAD: Former prime minister Imran Khan’s personal physician has given a positive assessment of his health after all his reports turned out to be “okay,” Khan’s Pakistan Tehreek-e-Insaf (PTI) party said on Monday.
Dr. Asim Yousaf, the ex-premier’s personal physician, along with a team of doctors from the Pakistan Institute of Medical Sciences (PIMS) was allowed to examine Khan’s health, following weeks of claims made by the PTI regarding “mistreatment” being meted out to the ex-premier, who has been in jail since August last year.
The party claims also prompted Khan’s ex-wife, Jemima Goldsmith, to express concerns about his condition. Consequently, a team of doctors was allowed to visit Khan in jail who found him in good health.
“The personal physician of Imran Khan, Dr. Asim Yousaf was allowed in, to examine the former PM, along with another team of doctors from Pakistan Institute of Medical Sciences hospital Islamabad, with an okay report on his physical health,” the PTI said in a statement.
The former premier had petitioned the Islamabad High Court in October to grant permission for regular medical examination by his personal physicians.
Khan, who served as prime minister from 2018 to 2022, has been entangled in more than 200 legal cases since he was ousted, in what he says is a campaign to keep him from returning to power. Pakistani authorities deny the allegation.
In April, the former cricket star and his wife had their 14-year prison sentences for graft suspended by a high court.
Khan then had a 10-year sentence for treason overturned last month but remains in Adiala jail, south of the capital Islamabad, over an illegal marriage conviction.
He had been cleared for release before that trio of sentences in the days running up to Pakistan’s February 8 general elections.