Pakistan

China seeks ‘new fields’ of cooperation with Pakistan military

Published

12 months ago

Farwa

Pakistan Naval chief Amjad Khan Niazi is visiting Beijing.
Ties between Pakistan, China militaries stretch back years.
Chinese FM recently concluded two-day Pakistan visit.

BEIJING: China’s defence minister on Monday told Pakistan’s navy chief that their militaries including their navies should “expand into new fields of cooperation” to bolster the capability of the two neighbours in safeguarding security in the region.

Ties between the two militaries stretch back years, with their navies and air forces holding bilateral exercises in each other’s territory.

China’s Defence Minister Li Shangfu told Pakistan’s Chief of Naval Staff Amjad Khan Niazi, who was visiting Beijing, that the two countries’ military relationship was a key part of bilateral ties.

“The two militaries should expand into new areas of exchanges, create new high points of cooperation to continuously enhance their ability to deal with all sorts of risks and challenges, and jointly maintain the security interests of the two countries and of the region,” said Li, according to a statement on China’s Ministry of National Defense website.

Niazi’s visit comes after Zhang Youxia, vice chairman of China’s Central Military Commission, said in late April that the Chinese military is willing to build a closer China-Pakistan community with a shared future in the new era

“Chinese military is willing to work with the Pakistani military to further deepen and expand practical cooperation, continuously push mil-to-mil relationship to a higher level, and jointly safeguard the common interests of the two countries, as well as the regional peace and stability,” General Zhang said during a meeting with Chief of Army Staff General Asim Munir.

He stressed that no matter how the international situation changes, China always puts Pakistan in priority in its neighborhood diplomacy, and firmly supports Pakistan in safeguarding its sovereignty, territorial integrity, development interests and national dignity.

Recently, Chinese Foreign Minister Qin Gang was in Pakistan on his first visit to the country during which he held meetings with civil and military leaders.

During the meeting with COAS Munir, Qin Gang underscored the importance of the longstanding strategic relationship between the brotherly nations and expressed his satisfaction over the progress made on the CPEC while reiterating China’s commitment to its timely completion.

He also lauded Pakistan’s efforts in maintaining regional peace and stability, especially the support of the Pakistan Armed Forces for the provision of security to Chinese Nationals and projects in Pakistan.

Both the army chief and FM Gang discussed the evolving security situation in the region.

Business

There are US$13,280.5 million in foreign exchange reserves in Pakistan.

Published

5 mins ago

Farwa

According to a representative for the central bank, as of April 19, 2024, the nation’s total liquid foreign reserves were valued at US$ 13,280.5 million. A loss of US$ 74 million left the State Bank of Pakistan’s foreign reserves at US$ 7,981.2 million.

Commercial banks have $5,299.3 million in reserves for Pakistan.

In the week that concluded on April 12, the State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $14.4 million to $8.055 billion.

“In a weekly statement, SBP stated that it has repaid US$ 1 billion in principal and interest on Pakistan’s International Bond, which matures this week.”

But to $13.374 billion, the nation’s total reserves decreased by $68 million. In the same way, commercial banks’ reserves dropped to $5.319 billion, a reduction of $82 million.

Business

NIMA seminar to increase Pakistan’s ship recycling industry’s capacity

Published

8 mins ago

Farwa

According to a release, important players from a range of maritime industries attended the conference to discuss issues facing the shipping sector.

It further stated that the symposium cleared the path for the resurgence of a sustainable future in ship recycling.

Participants in the conference included representatives of the Gadani Ship Breaking Labour Union, PSBA, KS&EW, KPT, PMSA, GEMS, and the federal and Balochistani governments.

Furthermore, global perspectives and ideas were offered by international specialists such as Rabia Razzaque from UN-ILO and Professor Raphael Baumler from the World Maritime University.

The seminar emphasized Pakistan’s capacity to emerge as a pioneer in the field of environmentally friendly ship recycling.

In order to protect the environment and the safety of employees, the participants emphasized the importance of following international standards and regulations.

During his speech, Chief Guest Senator Nisar Ahmed Khoro emphasized the importance of the maritime industry’s resurgence and the crucial necessity for coordinated efforts from all parties involved.

A new age of economic prosperity, worker safety, and environmental responsibility for Pakistan’s maritime industry was called for as he urged the stakeholders to work together on a comprehensive SENSREC program.

Vice Admiral Ahmed Saeed (Retd), the president of NIMA, emphasized the significance of environmental stewardship and safety in ship recycling procedures.

Business

Inflows into the Roshan Digital Account surged to $7.660 billion on March 24.

Published

14 mins ago

Farwa

According to the data, remittance inflows for the month of March totaled US$ 182 million, whereas they were US$ 141 million in February and US$ 142 million in January 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own Non-Resident Pakistan Origin Cards (POCs), can now engage in banking, payment, and investing activities in Pakistan with the help of these accounts, which offer cutting-edge banking solutions.

According to a statement from the State Bank of Pakistan, the number of accounts registered under the program increased by 11,091 from 668,701 accounts in February 2024 to 679,792 accounts in March 2024.

As of March 2024, the central bank reported that foreign nationals of Pakistan have invested US $312 million in Naya Pakistan Certificates, US $528 million in Naya Pakistan Islamic Certificates, and US $31 million in Roshan Equity Investment.

It is important to note that former prime minister Imran Khan introduced the Roshan Digital Account initiative in September 2020 with the goal of giving Pakistanis living abroad access to digital banking services for the first time.