At the airport, Raisi and his delegation were met by Punjab Chief Minister Maryam Nawaz.

As Iranian President Ebrahim Raisi is visiting the city, Punjab has also declared today as a public holiday in Lahore to prevent traffic problems for the general people.

After the elections on February 8, a new administration was sworn in, and this is the first foreign head of state to visit.

A day earlier, the foreign office announced that Iranian President Raisi had arrived in Islamabad for a three-day formal visit.

At his arrival in Islamabad, President Raisi received a hearty welcome. He met with Army Chief Gen. Asim Munir, President Asif Ali Zardari, and Prime Minister Shehbaz Sharif on the first day of his tour. Also paying the visiting president a visit were the speaker of the National Assembly and the chairman of the Senate.

In an additional move to strengthen cooperation in a range of areas, including trade, science and technology, agriculture, health, culture, and judicial concerns, Pakistan and Iran signed eight accords on Monday.

Amidst the Iranian President Ebrahim Raisi’s formal three-day visit to Pakistan, the two nations signed these documents.

Officials from both sides signed the paperwork in front of President Raisi and Prime Minister Muhammad Shehbaz Sharif.

Establishing the Rimdan-Gabd Joint Free/Special Zone is the subject of an agreement between the two nations. Iranian advisor to the president and secretary of the Supreme Council of Free Trade, Industry, and Special Economic Zones, Hojjatollah Abdolmaleki, signed the pact with Secretary Board of Investment Ambreen Iftikhar.

The signing of a historic partnership agreement by Saudi Arabia, Pakistan, and Uzbekistan with the goal of fostering commerce and investment amongst the three nations is a noteworthy achievement.

It is anticipated that the agreement will strengthen regional economic cooperation and open up new markets for investors and companies.

As per the agreement, a strategic collaboration would be established by Saudi Arabia, Pakistan, Uzbekistan, K-Trade Securities, and Ansher Capital to facilitate cross-border investment.

The biggest investment bank in Uzbekistan, Ansher Capital, will collaborate closely with KASB Securities Limited (KASB), a top stock and commodity brokerage company in Pakistan, to offer investors corporate financing and financial advising services.

It is anticipated that the alliance will broaden the market and draw in foreign capital, especially in vital industries like agriculture, infrastructure, and energy.

Both companies will be actively involved in offering traders and investors in Saudi Arabia, Pakistan, and Uzbekistan professional advice and assistance as they navigate the markets.

Along with fostering economic integration and raising trade volumes, the pact is anticipated to improve trade relations amongst the three nations.

Businesses will be able to access new markets and investment opportunities thanks to the collaboration, which will boost the economy and create jobs.

The collaboration deal is the most recent in a line of steps meant to encourage investment and economic cooperation between Saudi Arabia, Pakistan, and Uzbekistan.

The three nations have been collaborating closely to advance investment and trade, and it is anticipated that this pact will deepen their economic bonds even more.

Details indicate that because of the widespread fuel smuggling in the domestic market, the large diesel supplies that have caused the main unit to close have not been released.

In correspondence addressed to the Petroleum Division and the Oil and Gas Regulatory Authority (OGRA), the Attock Refinery stated, “We have closed down our main crude distillation unit, which has a capacity of 32,400 barrels per day.”

As a result of fuel being smuggled into the nation, the refinery claimed that the oil marketing corporations were not purchasing fuel from them.

Further reading: The nation faces yet another fuel scarcity.

According to the letter, the main unit of Attock Refinery has been shut down and is currently running at 33 percent capacity due to the build-up of a massive stock of diesel.

According to the letter, the refinery may close entirely if the oil marketing corporations don’t buy fuel.

Leading the way in Pakistan’s petroleum refining industry is Attock Refinery Limited (ARL). With 53,400 barrels per day (bpd) of name plate capacity, it is now a modern, state-of-the-art refinery.