ISLAMABAD: The King Salman Humanitarian Aid and Relief Center (KSrelief) is set to sign several agreements and memorandums of understanding (MoUs) with various organizations in Islamabad on Tuesday, Pakistani state media reported.
The Saudi charity organization has one of the largest humanitarian budgets available to any aid agency across the world, which has allowed its officials to undertake a wide variety of projects in more than 80 countries. Pakistan is the fifth largest beneficiary of its aid and humanitarian activities and has greatly benefited from its assistance since 2022 monsoon floods.
The event at which the agreements are to be signed will be attended by Saudi Arabia’s ambassador to Pakistan, Nawaf bin Said Al-Malki, along with Pakistani government officials as well as representatives of international and local humanitarian organizations, the APP news agency reported on Monday, citing the Saudi Press Attaché Dr. Naif Al-Otaibi.
“These agreements will encompass aid and construction projects in multiple underprivileged regions of Pakistan, in alignment with KSrelief’s comprehensive aid plans,” he was quoted as saying by the APP.
Established in 2015, KSrelief aims for high humanitarian goals in its operations to provide assistance to the needy and disaster victims anywhere in the world, according to Dr. Naif.
These tasks are carried out by the United Nations (UN) bodies and international and local non-profit organizations under the right monitoring procedures and modern methods of rapid transition.
“These aid projects cover all areas of relief and humanitarian work, including food security, camp management, shelter, initial rehabilitation, conservation, education, water and environmental reform, nutrition, health, humanitarian aid support, including logistics services, and emergency communications,” he was quoted as saying.
IFC chief says it is doubling down on Pakistan, eyeing large infrastructure financing
The IFC had exposure of $2.1 billion in Pakistan during fiscal year 2024, ending in June
It marked the IFC’s record investment in the South Asian country’s $350 billion economy
Updated 12 sec ago
Reuters
ISLAMABAD: The World Bank’s private investment arm is increasing equity investments and eyeing large-scale infrastructure financing in Pakistan, in an investment plan that could unlock $2 billion annually over a decade, the institution’s chief told Reuters on Friday.
International Finance Corporation chief Makhtar Diop’s maiden visit to Pakistan follows the World Bank’s plans to allocate up to $20 billion for Pakistan under a Country Partnership Framework announced in January, with the IFC also slotted to invest the same amount.
“Between now and maybe October we will be able to progress enough on a couple of transactions that will signal that this is a country ready to receive large-scale financing for critical and important infrastructure,” said Makhtar Diop, the corporation’s managing director.
Diop said a $2 billion annual investment “is not a large number” for Pakistan, which needs infrastructure development in international airports, energy, water and ports.
Cash-strapped Pakistan is currently under a $7 billion International Monetary Fund bailout program and navigating a tricky path to recovery.
The South Asian nation narrowly averted a sovereign debt default, with reserves not sufficient enough to meet a month’s worth of controlled imports.
The IFC had an exposure of $2.1 billion in Pakistan during the fiscal year 2024, ending in June, marking its record investment in the South Asian country’s $350 billion economy.
Pakistan’s economy grew by a meagre 0.92 percent in the first quarter of the fiscal year.
Diop said the IFC is looking into agriculture, infrastructure, the “very important” financial sector, and the digital sector.
Pakistan is looking to generate revenue by speeding up a privatization push, but efforts to privatise the national flag carrier, Pakistan International Airlines, and outsource the capital’s airport have fallen flat.
In line with the IFC’s global push, Diop said equity-based transactions were to be expected in Pakistan too.
“Debt will still be a very important part in our business, but our equity will increase in the world, but also in Pakistan. It means we are believing really in Pakistan because we can take equity for a long, long time,” he said.
ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar will travel to New York to attend a United Nations Security Council (UNSC) meeting on global governance and multilateralism next week, the foreign office announced on Friday.
The meeting will be chaired by Chinese Foreign Minister Wang Yi, as China holds the council’s rotating presidency for the month. The deliberations come at a time of growing concerns about multilateralism, particularly after United States President Donald Trump’s return to the White House.
During his previous term, Trump withdrew the US from key international agreements, challenged traditional alliances and took a more unilateral approach to foreign policy. His new administration’s stance on global governance and international institutions remains under close watch by world leaders.
“The Deputy Prime Minister and Foreign Minister of Pakistan, Senator Mohammad Ishaq Dar, will travel to New York to participate in the high-level meeting of the United Nations Security Council (UNSC) on ‘Practicing Multilateralism: Reforming and Improving Global Governance,’ scheduled to be held from 18th February 2025,” foreign office spokesperson Shafqat Ali Khan said on Friday.
“The meeting has been convened by China under its rotating presidency of the Security Council for the month of February 2025. It will be chaired by H.E. Wang Yi, the Foreign Minister of China,” he added.
Dar is also expected to hold bilateral meetings with foreign ministers from other states as well as senior UN officials on the sidelines of the event.
While it is customary for Pakistan’s top leadership, particularly its prime ministers, to attend the UN General Assembly session in New York every September, visits to participate in other meetings at the world body are relatively rare.
Pakistan was elected as a non-permanent member of the UNSC for the 2025-2026 term in June 2024 with 182 out of 193 votes.
It officially began its two-year tenure on January 1, 2025.
KARACHI: Prime Minister Shehbaz Sharif on Friday urged the International Finance Corporation (IFC) to enhance its support in key sectors during a high-level delegation visit, weeks after the World Bank pledged $40 billion in assistance to the South Asian country.
The IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.
The World Bank last month announced a decade-long Country Partnership Framework (CPF) for Pakistan, marking the unprecedented commitment, including $20 billion in sovereign lending through the International Development Association and the International Bank for Reconstruction and Development. The IFC will mobilize an additional $20 billion to spur private sector investments in Pakistan.
“The Prime Minister lauded IFC’s role in fostering private sector investments and expanding its portfolio in Pakistan,” said a statement circulated by Sharif’s office after the meeting with IFC Managing Director Makhtar Diop, who is leading the delegation. “He encouraged IFC to enhance its support under key areas including infrastructure and logistics, outsourcing of large airports, agriculture, information technology, mining, climate resilience, health care, and water & sanitation.”
Pakistan Prime Minister Shehbaz Sharif speaks during a meeting with the International Finance Corporation Managing Director Makhtar Diop in Islamabad on February 14, 2025. (PMO)
“He also encouraged IFC to enhance collaboration with the private sector arms of other multilateral institutions for maximizing private sector participation in the development process and achieving greater impact,” the statement added.
The prime minister emphasized the need for export-led growth and called for the digitization of Pakistan’s economic ecosystem. He also highlighted ongoing digitization efforts within the Federal Board of Revenue (FBR) to streamline financial and economic processes.
Diop agreed with Sharif, according to the statement, by stressing the need for increased private sector investment in Pakistan’s road and power sector infrastructure, particularly transmission lines, airport services and wheat storage facilities such as silos to strengthen exports.
He also underscored the importance of private investment in water, health care and sanitation, with necessary social safeguards, to ensure sustainable economic growth.
The IFC official commended Pakistan’s engagement with the International Monetary Fund (IMF) and ongoing economic reforms. He noted that the government’s efforts to create an enabling environment for private sector operations had boosted investor confidence. He assured Sharif of the IFC’s continued support, aligned with Pakistan’s development priorities.
Earlier in the day, Diop and his team met with Finance Minister Muhammad Aurangzeb, who briefed them on Pakistan’s macroeconomic stability in terms of both debt and equity, as well as key structural reforms undertaken by the government, according to the finance ministry.
The World Bank’s lending program for Pakistan, set to commence in 2026, will focus on six core outcomes: improving education quality, tackling child stunting, boosting climate resilience, enhancing energy efficiency, fostering inclusive development, and increasing private investment.
KARACHI: The Pakistan Air Force (PAF) demonstrated the long-range operational capabilities of its indigenous JF-17 fighter jets during an international exercise in Saudi Arabia, the military’s media wing said on Friday, as the PAF contingent returned home.
The PAF participated in Exercise Spears of Victory-2025, held at King Abdul Aziz Air Base, alongside air forces from Saudi Arabia, Bahrain, France, Greece, Qatar, the United Arab Emirates, the United Kingdom and the United States.
The drills, which began earlier this month, aimed to enhance interoperability through realistic air combat scenarios.
“For this international deployment, PAF fighters executed a non-stop flight from their home base in Pakistan to Saudi Arabia and back, conducting in-flight air-to-air refueling, demonstrating long-range operational capabilities of the JF-17 Block-III aircraft,” the Inter-Services Public Relations (ISPR) said in a statement.
The PAF contingent included JF-17 Block-III fighter jets, combat pilots and technical ground crew, who actively participated in the exercise. The JF-17 Block-III displayed its combat performance against advanced fighter jets, earning recognition for its technological strengths and operational potential.
The PAF’s participation highlights its commitment to staying at the forefront of aerial warfare through joint exercises and modern combat training, ISPR added.
Clinical New Zealand thump Pakistan to win tri-nations series final
O’Rourke’s 4-43 helped New Zealand bowl out Pakistan for 242 before securing a five-wicket win
Victory boosts their confidence ahead of Wednesday’s Champions Trophy opener against Pakistan
Updated 14 February 2025
AFP
KARACHI: Pace bowler Will O’Rourke claimed four wickets while Daryl Mitchell and Tom Latham hit half centuries as New Zealand defeated Pakistan by five wickets to clinch the tri-nations series final on Friday.
O’Rourke’s 4-43 helped the tourists dismiss Pakistan for 242 in 49.3 overs before Mitchell’s 58-ball 57 anchored the chase as the Black Caps finished on 243-5 in 45.2 overs at Karachi’s National Stadium.
The victory gives the New Zealanders a timely boost ahead of the Champions Trophy opener against the same opponents at this venue on Wednesday.
New Zealand lost opener Will Young in pacer Naseem Shah’s first over for five before Devon Conway (48) and Kane Williamson (34) steadied the chase with a second wicket stand of 71.
New Zealand’s Michael Bracewell, center, and Glenn Phillips, right, shake hand with Pakistan’s players after winning the tri-series ODI cricket final match against Pakistan, in Karachi on February 14, 2025. (AP)
Williamson lost his wicket while charging down the wicket against spinner Salman Agha while Naseem returned for his second spell to dismiss Conway.
At 108-3 the tourists’ chase wobbled but Mitchell found an able ally in Latham (56) as the two added 87 for the fourth wicket.
When Mitchell fell caught and bowled off spinner Abrar Ahmed the tourists needed just 48 runs which Latham and Glenn Phillips (20 not out) reduced to ten.
New Zealand’s Daryl Mitchell, left, and Tom Latham run between the wickets during the tri-series ODI cricket final match between Pakistan and New Zealand, in Karachi on February 14, 2025. (AP)
Mitchell hit six boundaries in his knock while Latham’s 64-ball innings featured five fours.
Naseem was the pick of an otherwise ineffective Pakistan bowling attack with 2-43 off eight overs.
Earlier, spinners Mitchell Santner (2-20) and Michael Bracewell (2-38) backed up O’Rourke to ensure Pakistan did not post a big total.
Skipper Mohammad Rizwan top-scored with a 76-ball 46, while Salman Agha hit 45 off 65 balls as slow and variable bounce on the National Stadium pitch proved tough for batting.
New Zealand’s Glenn Phillips, center, shakes hand with Pakistan’s Mohammad Rizwan, second right, after winning the tri-series ODI cricket final match against Pakistan, in Karachi on February 14, 2025. (AP)
Pakistan lost opener Fakhar Zaman to O’Rourke in the fourth over for 10 and then Saud Shakeel for eight.
Babar Azam looked good for his 29 runs, hitting four boundaries and a six, and reached 6,000 runs scored in one-day internationals when he was on 10.
He was playing his 123rd innings, the joint fastest to reach the 6,000-run milestone with South African Hashim Amla.
Pakistan’s Salman Ali Agha, left, walks off the field after his dismissal during the tri-series ODI cricket final match between Pakistan and New Zealand, in Karachi on February 14, 2025. (AP)
Azam fell to a miscued shot off Nathan Smith, leaving Pakistan struggling at 54-3.
Rizwan and Agha, who shared a match-winning 260-run partnership against South Africa on Wednesday, then revived the innings with an 88-run stand.
New Zealand’s Will O’ Rourke, center, celebrates with teammates after taking the wicket of Pakistan’s Fakhar Zaman during the tri-series ODI cricket final match between Pakistan and New Zealand, in Karachi on February 14, 2025. (AP)
Rizwan hit four boundaries and a six but he and Agha fell within 19 runs of each other to end any hope of a challenging total.
Tayyab Tahir hit a 33-ball 38, also with four boundaries and a six, while Faheem Ashraf (22) and Naseem (19) added 39 invaluable runs to get Pakistan past 240.
Pakistan’s Babar Azam plays a shot during the tri-series ODI cricket final match between Pakistan and New Zealand, in Karachi on February 14, 2025. (AP)
Brief scores:
Pakistan 242 all out in 49.3 overs (Mohammad Rizwan 46, Salman Agha 45; W. O’Rourke 4-43) v New Zealand 243-5 in 45.2 overs (D. Mitchell 57, T. Latham 56; Naseem Shah 2-43)
Result: New Zealand won by five wickets
Toss: Pakistan
