UAE, Pakistan sign agreements in mining, railways, banking during Abu Dhabi crown prince’s visit

Special UAE, Pakistan sign agreements in mining, railways, banking during Abu Dhabi crown prince’s visit
Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan meeting with Pakistan Prime Minister Shehbaz Sharif in Islamabad, Pakistan, on February 27, 2025. (Photo courtesy: @CMShehbaz/X)
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Updated 28 February 2025
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UAE, Pakistan sign agreements in mining, railways, banking during Abu Dhabi crown prince’s visit

UAE, Pakistan sign agreements in mining, railways, banking during Abu Dhabi crown prince’s visit
  • Sheikh Khaled bin Mohamed bin Zayed Al Nahyan arrived on first official visit to Islamabad
  • Analyst advises seeking joint ventures in agriculture, pursuing mining, tourism investments

KARACHI: Pakistan and the United Arab Emirates signed key agreements to boost cooperation in mining, railways, banking and infrastructure sectors, the Prime Minister’s Office (PMO) said, as Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan arrived on his first official visit to Islamabad on Thursday. 
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. 
The crown prince’s visit came 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 loan.




Pakistan Prime Minister Shebaz Sharif receives Abu Dhabi Crown Prince and Chairman Abu Dhabi Executive Council Sheikh Khaled bin Zayed Al Nahyan at the Nur Khan Airbase in Rawalpindi on February 27, 2025. (PMO)

Sheikh Al Nahyan was accompanied by a high-level delegation of ministers, senior officials and business leaders during his day-long trip to Pakistan. He witnessed the signing of agreements between the two sides with Sharif.
“The MoUs/agreements were signed in the fields of Banking, Mining, Infrastructure development and Railways,” Sharif’s office said in a statement. 




Officials from UAE (left) and Pakistan (right) exchange MOUs as Prime Minister Shebaz Sharif and Abu Dhabi Crown Prince and Chairman Abu Dhabi Executive Council Sheikh Khaled bin Zayed Al Nahyan attend the ceremony at the Prime Minister Office in Islamabad on February 27, 2025. (PMO)

Sharif’s office said that the Pakistani prime minister informed the crown prince of his discussions on the Uzbekistan-Afghanistan-Pakistan Railway Line in Tashkent this week. 
“He further said that the project will benefit the ports of Gwadar and Abu Dhabi and would prove to be a game changer for the whole region,” the PMO said. 
Sharif praised the UAE’s support for Pakistan in various fields, the PMO said, adding that he appreciated UAE’s “keen interest” in expanding its investment portfolio in Pakistan.  




Abu Dhabi Crown Prince and Chairman Abu Dhabi Executive Council Sheikh Khaled bin Zayed Al Nahyan (first, left) and Pakistan Prime Minister Shehbaz Sharif (first, right) lead Pakistan and UAE delegation during a meeting at the Prime Minister Office in Islamabad on February 27, 2025. (PMO)

The crown prince had arrived in Islamabad on Thursday afternoon where he was received by the premier and President Asif Ali Zardari.
President Zardari later conferred Pakistan’s highest civilian award, the Nishan-e-Pakistan, on the Abu Dhabi crown prince in a ceremony attended by Sharif and top government officials. 
Sheikh Al Nahyan left after witnessing the signing of the agreements with Sharif. He was seen off by the Pakistani prime minister. 
Speaking to Arab News, an analyst and former government official described the visit as a “positive” development.
“If a high level official like the crown prince is visiting Pakistan that means they must be bringing something important in hand for our country,” Ashfaq Tola, Pakistan’s former state minister for resource mobilization, said.
He advised that Pakistan seek joint ventures with the UAE in its agro-based economy and encourage investment in Pakistan’s export-related sectors to improve the South Asian country’s forex earnings. He also said investors from the Gulf state could benefit from mining sector projects like the Reko Diq gold and copper reserves, along with the oil exploration and tourism sectors.

 


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.
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.
The UAE 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.

 


China’s BYD starts delivering vehicle in Pakistan, aim to roll out 100 units in 48 hours

China’s BYD starts delivering vehicle in Pakistan, aim to roll out 100 units in 48 hours
Updated 5 sec ago
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China’s BYD starts delivering vehicle in Pakistan, aim to roll out 100 units in 48 hours

China’s BYD starts delivering vehicle in Pakistan, aim to roll out 100 units in 48 hours
  • BYD partnered with Mega Motor Company last year to introduce electric vehicles in Pakistan
  • Both companies plan to establish 15 experience and care centers across Pakistan this year

KARACHI: China’s BYD, the world’s largest New Energy Vehicle (NEV) manufacturer, and Pakistan’s Mega Motor Company (MMC) started delivering vehicles in Karachi, Lahore and Islamabad on Friday, with plans to roll out 100 units within the first 48 hours, confirmed their official statement.
The milestone comes after BYD and MMC partnered last year to introduce electric vehicles (EVs) in Pakistan, aiming to accelerate the country’s transition toward sustainable mobility.
BYD, a global leader in battery-electric and plug-in hybrid vehicles, has expanded aggressively in Asia, Europe and Latin America. Mega Motor, a subsidiary of Pakistan’s Hub Power Company (HUBCO), is spearheading the local manufacturing, distribution and sales of BYD-branded vehicles.
“It is an honor to embark on this crucial development chapter in Pakistan,” said Lei Jian, BYD country head in Pakistan.
“BYD has long been dedicated to fulfilling people’s aspirations for a better life through technological innovation,” he continued. “We firmly believe that BYD’s new energy vehicles and technologies are destined to make even greater contributions to Pakistan’s green development journey.”

This handout photo, released by China’s BYD auto company on February 28, 2025, shows BYD Experience and Care Centers in Islamabad. (BYD Pakistan/Handout)

The companies have launched BYD Experience and Care Centers in Islamabad, Lahore and Karachi, offering customers access to their advanced automobiles. 
he initial rollout includes models such as SEAL and ATTO 3, with plans to establish 15 centers across Pakistan this year to expand accessibility.
“We are thrilled to begin vehicle deliveries across Pakistan,” said Danish Khaliq, VP Sales and Strategy at MMC. “This marks the beginning of an exciting journey for BYD and our customers, as we introduce world-class NEV technology to drive Pakistan toward a cleaner and more sustainable future.”
NEVs refer to alternative-fuel vehicles that rely on electric, hybrid, hydrogen, or other non-traditional power sources instead of conventional gasoline or diesel engines.


Pakistan PM forms committee to boost economic growth, seeks recommendations in two weeks

Pakistan PM forms committee to boost economic growth, seeks recommendations in two weeks
Updated 28 min 59 sec ago
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Pakistan PM forms committee to boost economic growth, seeks recommendations in two weeks

Pakistan PM forms committee to boost economic growth, seeks recommendations in two weeks
  • Shehbaz Sharif says the most effective way to improve the growth rate is to increase the country’s exports
  • The prime minister wants the leading business personalities and industrialists to be part of the committee

KARACHI: Prime Minister Shehbaz Sharif on Friday directed to form of a committee comprising industrialists and cabinet members to ensure sustainable economic growth, instructing it to offer recommendations within two weeks.
The move comes as Pakistan grapples with a fragile economy that has witnessed multiple boom-bust cycles over the past decades, forcing successive governments to seek external financial assistance, including repeated bailouts from the International Monetary Fund (IMF). Sharif’s administration is focusing on increasing exports and attracting investment to drive long-term growth.
The prime minister decided to set up the committee during a meeting with a delegation of prominent businessmen and industrialists, where he highlighted the government’s commitment to create a business-friendly environment.
“The prime minister has sought suggestions from business personalities and industrialists regarding sustainable improvement in the country’s growth rate,” said a statement released by his office after the meeting. “He has directed the formation of a committee comprising business figures, industrialists and government ministers.”
“This committee will provide recommendations to the government within two weeks to achieve sustainable growth,” it added.
Sharif emphasized that boosting exports was the most effective way to improve the growth rate, noting that his administration had been working to facilitate businesses and attract foreign direct investment.
He also pointed to the establishment of the Special Investment Facilitation Council (SIFC), which provides a one-window platform for investors, streamlining bureaucratic hurdles and offering incentives to businesses.
“The government is working on a priority basis to promote industry and business in the country,” he was quoted as saying during the meeting. “The business community and industrialists are the backbone of the country’s economy, and resolving their issues is our top priority.”
He highlighted recent improvements in macroeconomic indicators while acknowledging the need for further efforts to ensure the benefits of economic stability also begin to reach the public.


Pakistan signs deal with China for first astronaut mission to Tiangong space station

Pakistan signs deal with China for first astronaut mission to Tiangong space station
Updated 28 February 2025
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Pakistan signs deal with China for first astronaut mission to Tiangong space station

Pakistan signs deal with China for first astronaut mission to Tiangong space station
  • Both countries have deepened space cooperation, marked by satellite development and a lunar mission
  • Pakistani astronaut will train as a scientific payload specialist, conduct research aboard the space station

ISLAMABAD: In a landmark development, Pakistan’s space agency signed a cooperation agreement with China on Friday, setting the stage for the country’s first astronaut to embark on a mission to a Chinese space station, prompting Prime Minister Shehbaz Sharif to applaud the development.

Pakistan and China have deepened their space cooperation, marked by joint satellite development and a planned lunar mission. Last month, the two nations signed a memorandum of understanding for the South Asian nation’s first lunar rover to be included in China’s Chang’e 8 mission in 2028.

The rover, developed by Pakistan’s Space & Upper Atmosphere Research Commission (SUPARCO), will land at the lunar south pole, carrying scientific instruments designed by Pakistani, Chinese and European scientists. Pakistani scientists will operate the rover from Earth, conducting surface mapping, soil analysis and radiation studies.

Pakistan previously made its mark in lunar exploration in 2024, when its first lunar satellite, ICUBE-Q, developed by students at the Institute of Space Technology (IST) in collaboration with Shanghai Jiao Tong University, was deployed aboard China’s Chang’e 6 mission to capture lunar images and collect magnetic field data.

SUPARCO has now signed a deal with the China Manned Space Agency (CMSA) to train and send a Pakistani astronaut to Tiangong, China’s space station, in an initiative expected to boost Pakistan’s presence in space research.

“It’s a great opportunity and a wonderful event where we have just witnessed the signing ceremony between Pakistan and China on extending our cooperation to promote space cooperation and getting ready to train our first Pakistani astronaut on a space flight to the Chinese space station,” Sharif said at the ceremony.

“This is yet another wonderful gesture from the Chinese government to further deepen our cooperation in this field and many other fields over the last many decades,” he added.

Sharif thanked Chinese President Xi Jinping for supporting Pakistan, saying the two countries’ collaboration had transformed his country’s economy.

An official SUPARCO statement detailed the agreement, confirming two Pakistani astronauts will initially undergo training at the Astronaut Center of China, with one ultimately selected as a scientific payload specialist to conduct research aboard the Chinese space station. The astronaut selection process will be completed by 2026, with a planned spaceflight in an upcoming mission.

The mission will focus on scientific experiments across multiple disciplines, including biological and medical sciences, aerospace, applied physics, fluid mechanics, space radiation, ecology, material sciences, microgravity studies and astronomy.

“The China Space Station is equipped with state-of-the-art experimental racks and external adaptors, facilitating multi-domain research,” the statement said, adding that findings from the experiments are expected to contribute to medical research, environmental monitoring and space technology with potential benefits for life on Earth.


Russian delegation in Pakistan to discuss ‘economic cooperation’ — embassy

Russian delegation in Pakistan to discuss ‘economic cooperation’ — embassy
Updated 28 February 2025
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Russian delegation in Pakistan to discuss ‘economic cooperation’ — embassy

Russian delegation in Pakistan to discuss ‘economic cooperation’ — embassy
  • Pakistan, Russia have strengthened ties in recent years through increased dialogue, trade
  • In 2023, Islamabad began purchasing discounted Russian oil banned from European markets

ISLAMABAD: A Russian delegation arrived in Pakistan today, Friday, for a day-long visit to discuss economic cooperation, the Russian embassy in Islamabad said.

The visit comes days after state media reported Russian Ambassador to Pakistan Albert P. Khorev had announced cooperation with Islamabad this year in the energy and industrial sectors, including the modernization of a state-owned steel mill.

Pakistan and Russia, once Cold War rivals, have strengthened ties in recent years through increased dialogue and trade. In 2023, Islamabad began purchasing discounted Russian crude oil banned from European markets due to Russia’s war in Ukraine and also received its first shipment of liquefied petroleum gas from Moscow. 

“It is a trade delegation that came to discuss economic cooperation between Russia and Pakistan,” Russian Embassy Public Relations Officer Igor Kolesenkove told Arab News. “More details will be revealed later.”

He did not respond to questions on whether Pakistan Steel Mills would be on the talks’ agenda. 

A team of technical experts from Russia visited Pakistan in January to assess Pakistan Steel Mills, one of several state-owned firms Islamabad aims to privatize to revive loss-making entities and deliver reforms under a $7 billion International Monetary Fund bailout.

During a meeting earlier this month between Ambassador Khorev and Interior Minister Mohsin Naqvi, both countries agreed to activate a bilateral anti-terrorism dialogue and discussed enhancing cooperation in counter-terrorism and anti-narcotics efforts, with Pakistani officers invited to participate in anti-narcotics training programs in Moscow and Siberia.

Last year, Russian Deputy Prime Minister Alexei Overchuk visited Pakistan to discuss trade, energy, connectivity, and defense ties. 


‘Don’t care’: Hosts’ exit deflates Champions Trophy buzz in Pakistan

‘Don’t care’: Hosts’ exit deflates Champions Trophy buzz in Pakistan
Updated 28 February 2025
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‘Don’t care’: Hosts’ exit deflates Champions Trophy buzz in Pakistan

‘Don’t care’: Hosts’ exit deflates Champions Trophy buzz in Pakistan
  • The South Asian country has been gradually returning to hosting international teams after years of militancy marked it a no-go zone
  • Security in cities has vastly improved in recent years, including in Karachi, Lahore and Rawalpindi, where the matches are being held

KARACHI: Champions Trophy fever in Pakistan has plummeted after the hosts crashed out of the first major cricket event in the country in three decades without winning a game.
“It feels like attending a wedding where you don’t know the bride or groom,” said Kashan Khan, a medical student who watched Pakistan get beaten by New Zealand by 60 runs in the opening match in Karachi last week.
The defending champions then lost to great rivals India by six wickets to seal their fate, before their dead-rubber last group game against Bangladesh on Thursday was washed out.
“Pakistan’s poor performance has drained my enthusiasm. I don’t care about watching other teams now,” added Khan.
Pakistan’s failure to advance beyond the group phase or even win a game was a huge letdown in a country that has been gradually returning to hosting international teams after years of militancy saw it marked as a no-go zone.
Security in cities has vastly improved in recent years, including in Karachi, Lahore and Rawalpindi, where the matches are being held.
But disheartened fans have begun abandoning the tournament.
Outside Rawalpindi Stadium ticket-holders were seen trying to sell their unwanted seats ahead of Pakistan’s match against Bangladesh, but there were no takers.
“I had three tickets but no one wanted to buy them,” said Farooq Ali.
“I even tried giving them away for free, but my friends weren’t interested.”
For many, the final on March 9 holds little appeal, particularly given its location is still undecided.
Arch-rivals India, with which Pakistan has fought several wars, refused to visit its neighbor and are playing all their matches in Dubai.
In painful contrast to Pakistan’s woes, India are into the semifinals and if they reach the title decider, the final will be moved from Lahore to Dubai.
“If Pakistan isn’t playing in it, why should we care?” asked Amna Mashadi, who watched the tournament on television.
Pakistan’s latest flop dealt a severe blow not just to supporters, but also to the financial ecosystem surrounding the eight-nation event.
With Pakistan out, TV viewership has nose-dived, advertising revenues have shrunk and sponsors are demanding reductions in their campaign costs.
Pakistan’s stated-owned PTV and Ten Sports bought the joint broadcast shares of the 15 matches, each paying 1.2 billion rupees ($4.25 million).
Sources with knowledge of the broadcast deal told AFP that the two broadcasters have already lost close to 180 million rupees in two rained off matches in Rawalpindi.
Broadcasters are bracing for losses as they search for takers for the usually prime advertising spots in the semifinals and final.
“Sports advertising is always a gamble,” said a senior employee at a Pakistani company, one of the tournament’s top advertisers.
“Sponsorship deals cover the whole tournament, so pulling out isn’t an option.
“But when the national team exits early, consumers go away and the sale of the product suffers.”
Shopkeeper Mohammad Rizwan — he coincidentally has the same name as the Pakistan captain — had anticipated selling 60,000 cricket shirts of the home team.
Instead he only sold about a third of that.
“The demand for Pakistan shirts was overwhelming and in the week leading up to the event, I doubled my order,” Rizwan told AFP.
“But as soon as the team started losing, the demand plummeted. Now, I have huge unsold stock in my warehouse.
“It’s a massive loss.”
Renowned television and film actor Adnan Siddiqui fears that Pakistan’s underwhelming performance might push young fans away from the sport altogether.
“I grew up watching cricket late at night or early in the morning,” Siddiqui told AFP.
“But after these defeats, my son has lost interest completely. The real loss here is of the next generation of players and fans.”
Siddiqui flew to watch the India-Pakistan match in Dubai on Sunday and returned heartbroken.
“We used to beat India frequently but now they are well ahead of us in terms of skill and bravery. Our team looked scared.”
Despite the gloom some remain hopeful.
“This is a low point but the sun will rise again,” said Khalil Khan, a club-level cricket coach in Karachi.
“Cricket is the only sport that puts Pakistan on the global map and I’m sure our team will bring joy again in the future.”