Tag: China

  • Pakistan may be ‘one of the most dangerous nations in the world’, says US President

    Pakistan may be ‘one of the most dangerous nations in the world’, says US President

    President of the United States of America (USA), Joe Biden, has said that Pakistan may be “one of the most dangerous nations in the world” as the country has “nuclear weapons without any cohesion”.

    The remark came during the US president’s address at a democratic congressional campaign committee reception.

    What did the US President say?

    “Did anybody think we’d be in a situation where China is trying to figure out its role relative to Russia and relative to India and relative to Pakistan,” the American President asked during his speech at the reception.

    Talking about his Chinese counterpart Xi Jinping, the US president termed him as a man who knew what he wanted but had an “enormous” array of problems.

    “How do we handle that? How do we handle that relative to what’s going on in Russia? And what I think is maybe one of the most dangerous nations in the world: Pakistan. Nuclear weapons without any cohesion,” Biden said, adding that despite a lot going on, the US has a hunk of opportunities to change the dynamic in the second quarter of the 21st century.

    Reactions to the US President’s statement:

    Prime Minister (PM) Shehbaz Sharif reacting to US President’s statement said that Pakistan rejects the remarks reportedly made by the US President, which are factually incorrect and misleading.

    “Over the past decades, Pakistan has proven to be a most responsible nuclear state, wherein its nuclear programme is managed through a technically sound and foolproof command and control system,” read an official statement from the prime minister’s office.

    “The real threat to international peace and security is posed by ultra-nationalism, violation of human rights in regions that are struggling against illegal occupation, violation of global norms by some states, repeated nuclear security incidents, and arms race among leading nuclear weapon states and introduction of new security constructs that disturb the regional balance.”

    “Pakistan and the US have a long history of a friendly and mutually beneficial relationship. At a time, when the world is confronted by huge global challenges, it is critically important that genuine and durable efforts are made to recognize the real potential of the Pakistan-US relationship while avoiding unnecessary comments. It is our sincere desire to cooperate with the US to promote regional peace and security.”

    “Let no one have any doubts. Pakistan is a responsible nuclear state and we are proud that our nuclear assets have the best safeguards as per IAEA requirements,” tweeted the premier.

    “We take these safety measures with the utmost seriousness,” said the prime minister.

    Pakistan Muslim League-Nawaz (PML-N) supreme leader Nawaz Sharif said that Pakistan is a responsible nuclear state that is perfectly capable of safeguarding its national interest whilst respecting international law and practices.

    “Our nuclear program is in no way a threat to any country,” he said on Twitter. “Like all independent states, Pakistan reserves the right to protect its autonomy, sovereign statehood, and territorial integrity.”

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan said he had two questions regarding the US president’s statement. “On what info has Biden reached this unwarranted conclusion on our nuclear capability when, having been PM, I know we have one of the most secure nuclear command & control systems?

    “Unlike the US which has been involved in wars across the world, when has Pakistan shown aggression esp post-nuclearisation,” he asked.

    Khan claimed that Biden’s statement showed the “total failure of the imported government’s foreign policy and its claims of a reset of relations with the US”.

    “Is this the ‘reset’? This government has broken all records for incompetence,” Imran tweeted, adding that he feared the incumbent government would end up compromising national security.

    The ruling PML-N has held PTI responsible for Biden’s statement, saying, the lobbying firm hired by the Imran Khan-led party is doing what it was paid to do.

    “Make no mistake about it, this is a direct attack on the national security of Pakistan.”

    Minister for Power Khurram Dastgir Khan — a senior member of Prime Minister Shehbaz Sharif’s cabinet — has termed the US president’s statement about Pakistan’s nuclear programme “baseless”.

    While answering a question about President Joe Biden’s comments regarding Pakistan during a press conference today, the former defence minister said, “Pakistan’s nuclear command and control system is absolutely safe which has been confirmed by international organisations many times”.

    He said that the US president’s doubts about Pakistan’s nukes are “completely wrong and the statement is baseless”.

    Meanwhile, ex-minister Fawad Chaudhry demanded that Biden should immediately retract his statement, asserting that Pakistan’s leadership may be weak but its people were not.

  • China wants to import donkeys from Pakistan

    China has expressed interest in importing donkeys and dogs from Pakistan, information provided to the Senate Standing Committee on Commerce has said.

    Senator Zeeshan Khanzada presided over the Senate Standing Committee on Commerce meeting on Monday in Islamabad.

    China plans to import dogs and donkeys from Pakistan, according to senators Dinesh Kumar and Abdul Qadir. China, according to Kumar, is a significant export market.

    Senator Qadir told the committee that the Chinese ambassador said his country wants to export beef because of a spike in local demand and a decrease in supply.

    Senator Muhammad Afridi suggested that animals be imported from Afghanistan and then exported to different countries as they are available on cheap rates there, but there are no purchasers.

    However, in response to this recommendation, the relevant officials stated that temporarily banning the import of animals from Afghanistan owing to the spread of lumpy skin disease.

    However, in response to this recommendation, the relevant officials stated that the import of animals from the country is banned due to lumpy skin disease.

  • Pakistan seeks rollover of SAFE deposits worth $2 billion from China in March 2023

    Pakistan seeks rollover of SAFE deposits worth $2 billion from China in March 2023

    Pakistan seeks the rollover of $2 billion in State Administration of Foreign Exchange (SAFE) China deposits in March 2023. Federal Minister for Finance and Revenue Ishaq Dar, received a visit from Nong Rong, the People’s Republic of China’s ambassador, at the Finance Division.

    According to APP, Dar emphasised the long-standing friendship and kinship ties between Pakistan and China.

    The finance minister also thanked the Chinese leadership for their assistance in refinancing a syndicate facility worth RMB 15 billion ($2.24 billion) for Pakistan. He also asked the ambassador to help facilitate the rollover of $2 billion in SAFE China deposits in March 2023.

    Dar informed the ambassador of the costs to the overall economy as well as the harm done to Pakistan’s infrastructure, agriculture, lives, and property by the severe floods. He expressed gratitude to the Chinese government for providing the government and people of Pakistan with unwavering support during this difficult time.

    In reference to the CPEC, the finance minister stated that the economic corridor will be crucial in advancing Pakistan’s economy and fortifying bilateral ties between the two nations. He further pledged his unwavering support for the aid in realising the success of CPEC.

    The minister received Nong Rong’s congratulations on taking up his new duties. The envoy underlined China’s continuous support for Pakistan and emphasised how China is a rock for the Pakistani people in this time of need.

    “Since the devastating floods occurred in Pakistan, among all countries, China has announced over 644 million RMB (around 90 million dollars), the biggest amount of assistance to Pakistan,” said Nong Rong, in a tweet.

  • US to give $10m to Pakistan for food security

    US to give $10m to Pakistan for food security

    United States (US) Secretary of State, Antony Blinken, has said that the US government is pleased to announce another $10 million for Pakistan’s food security programme.

    Foreign Minister Bilawal Bhutto-Zardari met Blinken at the State Department in Washington DC on Monday.

    Holding a joint press conference following the meeting, Bilawal said that diplomacy between the State Department and the foreign ministry of Pakistan is back once again.

    “It is indeed true that diplomacy is back between the US State Department and the foreign ministry of Pakistan,” he stressed.

    Blinken said this is a very difficult time for Pakistan after floods wreacked havoc in the country. Floods will have long-term repercussions if the situation is not handled immediately, he warned.

    The US top official said, “We are meeting when Pakistan’s one-third [area] is under water. We have a sense of urgency and sense of determination. We’re looking ahead to rebuild.”

    He stated that the US stands with the people of Pakistan at this crucial time and added that 17 planes carrying aid for flood victims had already left the country. Pakistan will also receive an additional $10 million for its food security programme, he noted.

    “That has an immediate impact. But unless we’re able together to deal with the challenge, it will have a long-term impact as well,” said Blinken.

    “I also urged our colleagues to engage China on some of the important issues of debt relief and restructuring so that Pakistan can more quickly recover from the floods,” Blinken said.

    China is a key economic and political partner of Pakistan, pushing ahead with a $54 billion “economic corridor” that will build infrastructure and give Beijing an outlet to the Indian Ocean, although Chinese interests have also faced attacks from separatists.

    During the press conference, Bilawal also invited Blinken to visit Pakistan.

  • PM Shehbaz uses international platform to plead for action against climate change

    PM Shehbaz uses international platform to plead for action against climate change

    Prime Minister (PM) Shehbaz Sharif talked about the ongoing climate change devastation that has been caused by unprecedented floods across Pakistan at Shangai Cooperation Organisation (SCO) summit in Samarkand, Uzbekistan.

    In his speech, the premier stressed that his country’s contribution to the global carbon commission is only 1 per cent. “Our carbon emission is less than one per cent. Yet nature had this in store for us,” Shehbaz Sharif said.

    Moreover, he urged the world to formulate a well-thought-out and sustainable plan to prevent devastating episodes of climate change destruction in the future. “We are going to stand on our own feet but will this be the last time a country is going to fall victim to this devastation”, he asked, as he appealed to the SCO to “build a wall” against the menace of climate change.

    He concluded his speech by reaffirming Pakistan’s “strong and unwavering commitment” to advancing the objectives of the SCO.

    At the international forum, the premier urged the leaders not to ignore Afghanistan at this time.

    He stated that the world would have to work together to support all “good initiatives” in Afghanistan. “It will be a big mistake if we ignore Afghanistan this time around”, he warned.

    Moreover, PM Shehbaz asked the international community to support efforts to build a sustainable Afghan economy. “Unfreezing Afghanistan’s financial assets remains a crucial need in this regard”, he stressed.

    PM Shehbaz meets Chinese President Xi Jinping

    On Friday, PM Shehbaz met Chinese President Xi Jinping at SCO in Uzbekistan.

    In an official statement, the Chinese foreign ministry said that during the meeting, Xi pointed out that China and Pakistan are close neighbours “linked by mountains and rivers and with a shared future”.

    The two countries have all along stood with each other through thick and thin. No matter how the international situation evolves, China and Pakistan are always each other’s trustworthy strategic partners, the statement added.

    President Xi stressed that the two sides must continue to firmly support each other, foster stronger synergy between their development strategies, and harness the role of the Joint Cooperation Committee of the China-Pakistan Economic Corridor (CPEC) to ensure smooth construction and operation of major projects.

    On Thursday, Defence Minister Khawaja Asif said that PM Shehbaz had “very successful” talks with Russian President Putin and Chinese President Xi.

    “Both of them have officially invited Shehbaz Sharif to visit their countries. The prime minister has accepted both invitations. There will be a visit to China in November 2022,” the minister confirmed in a tweet.

    Earlier, it was reported that PM Shehbaz would meet Xi Jinping, the Chinese President. However, no plans have been announced of a meeting between the Pakistani Prime Minister and his Indian counterpart Narendra Modi, who is also attending the SCO.

    Shehbaz Sharif was also scheduled to meet Kazakhstan President Kassym-Jomart Tokayev later in the day.

    On Thursday, the prime minister met with Russian President Vladimir Putin, Turkish President Recep Tayyip Erdogan and Iran’s Ebrahim Raisi. He also met with the president of Tajikistan and Kagystan.

    Shehbaz Sharif declared his meetings with the world leaders on Thursday as “productive”.

    “It was a long but productive day in Samarkand. In my meetings with leaders of friendly countries, we agreed on enhancing trade and investment. I explained the flood ravages due to climate change. Food and energy shortages present a real challenge to our shared development agenda,” he tweeted.

    During the meeting with Putin, the Russian president said that pipeline gas supplies to Pakistan are possible, and that part of the necessary infrastructure is already in place.

    After the meeting with Putin, the premier also held a bilateral meeting with Tajikistan’s President Emomali Rahmon.

    The two leaders held wide-ranging talks covering all aspects of mutually beneficial bilateral cooperation, including regional and international issues.

    Shehbaz Sharif thanked Tajikistan for its support to flood affectees in Pakistan and shared details of the devastation caused by the massive floods.

    Since becoming a full member of SCO in 2017, Pakistan has been actively contributing and participating in the activities of the organisation.

  • Indian PM Modi to attend regional summit along with PM Shehbaz

    Indian Prime Minister (PM) Narendra Modi and Pakistani Premier Shehbaz Sharif will take part in Shanghai Cooperation Organisation (SCO) summit which is due to take place on September 15 and 16 in Samarkand, Uzbekistan.

    New Delhi has not yet specified whether Modi would hold bilateral talks with his Pakistani counterpart, Russian President Vladimir Putin or Chinese President Xi Jinping.

    Earlier, in the SCO foreign ministers’ meeting, all of the ministers reiterated that the heads of SCO states would attend the summit.

    Foreign Minister (FM) Bilawal Bhutto, who had attended the meeting in Tashkent, said that a bilateral meeting between the Pakistani and Indian leaders is not scheduled.

    “There are no plans of any meetings between Indian and Pakistani prime ministers in September”, Bilawal revealed, adding that both India and Pakistan are part of the SCO and the two countries are only engaged in the context of the broad-based activities of the organisation.

    The foreign minister had said: “India is our neighbouring country. While one can decide on a lot of things, one cannot choose its neighbours, therefore, we should get used to living with them.”

    Other than this, it has been reported that Russian Putin and Chinese Xi would meet at the summit. China has refused to condemn Moscow’s invasion of Ukraine and has ramped up purchases of Russian oil.

  • PM Shehbaz likely to meet Narendra Modi at SCO summit

    PM Shehbaz likely to meet Narendra Modi at SCO summit

    Prime Minister (PM) Shehbaz Sharif is expected to have a meeting with his Indian counterpart Narendra Modi at the Shanghai Cooperation Organisation (SCO) summit, reports The News.

    The summit is scheduled to be held on September 15 and 16 in Samarkand, Uzbekistan.

    PM Shehbaz is likely to meet the country heads of China, Russia and Iran as well.

    Foreign Minister (FM) Bilawal Bhutto-Zardari attended  a meeting of the SCO FMs on July 28.

  • Pakistan to overcome $4 billion external financing gap soon: SBP

    Pakistan to overcome $4 billion external financing gap soon: SBP

    In the midst of intense pressure on foreign currency reserves, Pakistan will soon close its $4 billion shortfall in external finance with the assistance of friendly nations under IMF conditions, according to Acting Governor of the State Bank of Pakistan (SBP) Dr Murtaza Syed.

    He also acknowledged that inflation will continue to be higher for the ensuing 11 to 12 months, which is why the central bank was aiming for an average inflation target of 18 to 20 per cent for the current fiscal year 2022–2023

    According to The News, acting SBP Governor Dr. Murtaza Syed stated that Pakistan has already met its gross external financing requirements of $34 to $35 billion.

    However, Islamabad is also attempting to secure confirmation of $4 billion in inflows from friendly nations like Saudi Arabia, the UAE, and Qatar. According to him, these extra dollar inflows will be used to boost foreign currency reserves and build a safety net in case of a crisis-like circumstance.

    He resisted providing a specific timeline but assured that the $4 billion finance deficit will be closed quickly. He argued that urgent attempts were being made by the government and IMF high-ups to secure confirmation from their respective nations.

    Denying that the scenario was similar to Sri Lanka, he praised Bangladesh and claimed that nation performed properly, chose to return to the IMF, and also increased utility costs while maintaining enough levels of foreign exchange reserves.

    Speaking of increasing inflation, he believed that supply interruptions abroad had set the way for a global super cycle of commodities, leaving Pakistan with no choice but to concentrate on agriculture productivity in order to secure food security.

    According to Murtaza Syed, people would have to deal with this challenging moment because there is no immediate magic wand to manage increased inflation. He said that while it is a challenging time, there is no alternative way to prevent the country from entering a more challenging situation if nothing was done.

    According to the official, the SBP has loosened the cash margin requirements for opening L/Cs for imports and offers incentives to individuals who do so. According to him, the IMF opposed trade restrictions and took action to prevent the depletion of foreign exchange reserves.

    The current pressure on foreign reserves is now anticipated to end within the next two months. He also promoted energy saving as a way to ease the burden of high import costs.

    The senior official believed that as long as the economy’s structural issues persisted, Pakistan will continue to see boom and bust cycles. He gave a recent example in which the nation’s GDP increased by 6 per cent, indicating that the overheating of the economy led to imbalances known as the budget deficit and current account deficit. Although a recession is not imminent, he continued, the economy must be managed carefully.

  • ‘Pakistan is not going to default’: Miftah Ismail

    ‘Pakistan is not going to default’: Miftah Ismail

    The pressure on the Pakistani rupee will “vanish” in a few weeks, according to Finance Minister Miftah Ismail, who also stated that Pakistan is not going to default.

    He predicted that dollar inflows into Pakistan will exceed dollar outflows soon, creating a “stable exchange rate”. Additionally, he said that within three months, imports will “organically” decline, and exports will soar as a result of the government’s impending strategic plan.

    “It’s no fun going to the world, to the International Monetary Fund (IMF), to the Chinese, to the Saudis, asking for money,” said Miftah Ismail in an interview with Mosharraf Zaidi, CEO of advisory services firm Tabadlab.

    According to Miftah, the IMF loan influx will be completed within weeks.

    “The only thing is that from August 1 to August 15, the directors of the IMF are on vacation. That’s why the meeting is starting a little later than I’d prefer,” he added.

    The finance minister defended the government’s policy of limiting imports to stop the dollar from leaving the country during the discussion. “Nobody is happy with the surgery, but sometimes it’s necessary,” he added.

    Without mentioning the country, Miftah stated that Pakistani authorities had requested a “friendly country” to shore up foreign exchange reserves through dollar-denominated deposits but it turned down Islamabad’s request, saying the latter never returned the deposits.

    The friendly nation subsequently expressed interest in purchasing shares of publicly traded government-owned companies under a buyback arrangement, giving Islamabad the option — but not the obligation — to repurchase the same ownership at a 5 per cent higher price.

    In addition to stating that “there’s not even (a question of) price discovery,” the minister stated that the country “tried to help Pakistan and is giving a great deal”.

    =Earlier today, the Pakistani rupee again fell to a record low versus the US dollar. During intraday trading on Wednesday at 1:00pm, the US dollar reached Rs239.

  • China’s population expected to start reducing before 2025

    China’s population expected to start reducing before 2025

    China’s population is expected to start to shrink before 2025 as the country’s birth data showed that the number of new births in 2021 was the lowest in decades in several provinces. Currently, China is the most populous country with nearly 1.4 billion residents.

    The head of population and family affairs at the National Health Commission said that China’s population is expected to start to shrink in 2021-2025.

    In recent years, the population of the country has slowed significantly. According to the state-backed Global Times, the number of births in central Hunan province fell below 500,000 for the first time in nearly 60 years.

    The change in China’s laws last year that allowed women to have three children has not helped the country in any way. Many Chinese women have argued that the change comes too late and they are facing problems like insufficient job security and gender equality.

    According to a United Nations (UN) report, India will become the world’s most populous country next year, i.e 2023, beating China.