Business Standard

Page 2 - Shehbaz Sharif

Pakistan to get $5 bn over 3 years for petroleum, gas exploration: Sharif

Pakistan is expected to get an investment of USD 5 billion over the next three years from local and international firms for the exploration and development of petroleum and gas reserves that will save the cash-strapped country's valuable foreign exchange and provide relief to the common man bearing the brunt of high fuel prices. The announcement was made in a meeting presided over by Prime Minister Shehbaz Sharif on Saturday during a meeting with a delegation of oil and gas exploration and production sector companies. According to the state-run Associated Press of Pakistan, the meeting was informed that during three years, around 240 places would be excavated with an investment of USD 5 billion to explore petroleum and gas in Pakistan. The meeting was informed that currently, Pakistan's domestic production stood at 70,998 barrels and 3,131 MMSCFD (million standard cubic feet) gas per day. The prime minister invited petroleum and gas exploration and production companies to also find

Pakistan to get $5 bn over 3 years for petroleum, gas exploration: Sharif
Updated On : 07 Jul 2024 | 12:32 PM IST

Pakistan PM Sharif to decide fate of social media platforms during Muharram

Pakistan Prime Minister Shehbaz Sharif would decide the fate of social media platforms such as YouTube, WhatsApp, Facebook, Instagram and TikTok during the Muharram festival as the Punjab government sought a ban on them, citing the need to control hate material. Shiite Muslims hold large gatherings during the festival to observe the martyrdom of the grandson of the prophet of Islam. The Muslims generally observe his martyrdom as a symbol of resistance to tyranny, and the Shiite Muslims take out rallies during the first ten days of Muharram which culminate into huge processions on the 9th and 10th of the month. The Sunni Muslims have a historic theological rivalry with the Shiites, and extremist Sunni groups brand them as heretics and target them through bombings, with Pakistan witnessing numerous such attacks in the past. To disrupt communication among the militants, governments in Pakistan traditionally undertake elaborate security measures during Muharram, including suspension of

Pakistan PM Sharif to decide fate of social media platforms during Muharram
Updated On : 06 Jul 2024 | 12:22 PM IST

Pakistan seeks small, modern arms from US for 'Operation Azm-i-Istehkam'

Pakistan's ambassador to the US has urged the US to provide small arms and modern equipment to his country to ensure the success of Operation Azm-i-Istehkam, Islamabad's newly approved counter-terrorism initiative. The decision to launch the 'Azm-e-Istehkam' operation was taken on June 22 at the apex committee meeting of the National Action Plan, a strategy approved in 2014 to eliminate militancy from the country. The federal government recently approved the reinvigorated national counter-terrorism drive. Pakistan has launched Azm-i-Istehkam () to oppose and dismantle terrorist networks. For that, we need sophisticated small arms and communication equipment, Ambassador Masood Khan was quoted as saying by the Dawn newspaper. He made these remarks while addressing US policymakers, scholars, intelligentsia, and corporate leaders at a Washington think tank, the Wilson Centre, earlier this week. Khan elaborated that 'Azm-i-Istehkam' comprises three components: doctrinal, societal, and

Pakistan seeks small, modern arms from US for 'Operation Azm-i-Istehkam'
Updated On : 29 Jun 2024 | 2:55 PM IST

Pak PM assures Bilawal Bhutto-led PPP of addressing its Budget concerns

Prime Minister Shehbaz Sharif has assured Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari that the government would take steps to address the key ally's reservations on multiple issues by forming a committee after tensions rose among ruling coalition partners over the budget. A delegation of the PPP headed by Bilawal on Thursday met Prime Minister Sharif to sort out differences over the budget which was presented in Parliament last week. Finance Minister Muhammad Aurangzeb presented the federal budget on June 12 but the PPP, which is the major ally of the government, was not happy as it was not consulted when the budget was being prepared. As the Pakistan Muslim League-Nawaz (PML-N) government lacks a majority, there is a genuine concern that the government may not be able to get the budget passed in Parliament if not supported by the PPP. Geo News reported that Sharif assured Bilawal Bhutto of taking steps to address the key concerns. The Dawn newspaper quoting sourc

Pak PM assures Bilawal Bhutto-led PPP of addressing its Budget concerns
Updated On : 21 Jun 2024 | 2:57 PM IST

Shehbaz Sharif vows to end Pak's dependency on foreign aid and IMF bailouts

Prime Minister Shehbaz Sharif has pledged to end Pakistan's dependency on foreign aid and IMF bailouts and surpass neighbouring nations in economic activity, as he outlined a series of bold reforms to reduce the cash-strapped government's expenses and revive the economy. Sharif addressed the nation on Saturday and expressed hope that the next deal with the International Monetary Fund (IMF) for a bailout package would be the last in Pakistan's history. The Pakistan government is currently in talks with the IMF for a loan estimated to be between USD 6 billion to USD 8 billion, as it strives to avert a default in a slow-paced economy. Sharif emphasised that every penny would be spent on the progress of the nation and its people. He expressed commitment to reduce expenses and, within five years, provide education and skills to the youth. Inshallah, this will be the last IMF programme in Pakistan's history. We will stand on our feet and surpass our neighbouring countries in economic ..

Shehbaz Sharif vows to end Pak's dependency on foreign aid and IMF bailouts
Updated On : 16 Jun 2024 | 1:42 PM IST

No CPEC 2.0? China gives Pakistan cold shoulder on new major investments

Ahead of Pakistani PM Shehbaz Sharif's China trip, officials in Islamabad had claimed that an upgraded version of CPEC would be formally launched in Beijing

No CPEC 2.0? China gives Pakistan cold shoulder on new major investments
Updated On : 11 Jun 2024 | 7:37 PM IST

Taiwan slams China and Pakistan on misinterpretation of UN resolution 2758

According to Focus Taiwan, MOFA issued a press release Monday stating that resolution 2758 only addresses the issue of China's representation in the United Nations and does not mention Taiwan at all

Taiwan slams China and Pakistan on misinterpretation of UN resolution 2758
Updated On : 11 Jun 2024 | 8:40 AM IST

PM Sharif vows to eliminate terrorism after 7 soldiers killed in attack

Pakistan Prime Minister Shehbaz Sharif on Monday pledged to "relentlessly eliminate terrorism" from the country after seven soldiers, including a Captain, were killed in a terrorist attack in the restive Khyber Pakhtunkhwa province a day earlier. The incident occurred when the convoy of security personnel heading towards Kachi Qamar, Sarband Post of the Lakki Marwat district, came under attack by the terrorists. The terrorists blasted an improvised explosive device (IED) initially and later opened fire on the convoy. "Deeply saddened by the martyrdom of Pak Army personnel, including a Captain in a targeted attack in Lakki Marwat District," Sharif said in a post on X. "The sacrifices of our brave soldiers and citizens is a debt on us that we must repay by relentlessly eliminating terrorism from our nation," he said, condoling the deaths. According to the security officials, Lakki Marwat is a hotbed of the Tehreek-e-Taliban Pakistan (TTP) terrorists. Pakistan has been facing a resu

PM Sharif vows to eliminate terrorism after 7 soldiers killed in attack
Updated On : 10 Jun 2024 | 1:10 PM IST

Will send 1K students to China for agriculture training: Pakistan PM Sharif

Pakistan's Prime Minister Shehbaz Sharif has announced sending as many as 1,000 students of the country to China for advanced training in the agriculture sector as it strives to increase output, according to a media report on Sunday. The premier, who concluded his five-day official visit to China, made the announcement during a visit to Yangling Agricultural Demonstration Base in Xi'an city on Saturday, Radio Pakistan reported. The 72-year-old also invited China's North West Agriculture and Forestry University to open a campus in Pakistan. He directed the Pakistan ambassador to China and relevant authorities to finalise the matters with the Chinese authorities in this regard, Geo News reported. The prime minister toured various parts of the facility and was shown Pakistani products at the Pakistan Pavilion, the report said. Sharif also visited the modern plant production factory where he oversaw a demonstration of the vertical method of agriculture, it said. Pakistan is striving to

Will send 1K students to China for agriculture training: Pakistan PM Sharif
Updated On : 09 Jun 2024 | 2:13 PM IST

Pak PM, Chinese prez agree to upgrade CPEC, boost development in 2nd phase

The two leaders also affirmed their consensus on CPEC's upgradation and advancing the mega project's development in its second phase, according to Dawn

Pak PM, Chinese prez agree to upgrade CPEC, boost development in 2nd phase
Updated On : 08 Jun 2024 | 8:47 AM IST

China more important than IMF? Why Pak PM postponed Budget to visit Beijing

Presenting the Budget is critical for Pakistan to finalise a fresh IMF deal

China more important than IMF? Why Pak PM postponed Budget to visit Beijing
Updated On : 07 Jun 2024 | 6:27 PM IST

Pak PM in Beijing for talks with Xi to seek more investments, boost ties

Visiting Pakistan Prime Minister Shehbaz Sharif has reached Beijing for talks with Chinese President Xi Jinping and other leaders to elevate all-weather bilateral ties and prospects of more aid and investments to bail out his cash-strapped country from the current economic crisis. Sharif, on a five-day official visit to China since June 4, toured the southern high-tech city of Shenzhen on Wednesday and addressed the investors meeting. During his stay here, Sharif will meet Xi, Premier Li Qiang and other leaders, Pakistan's state-run APP news agency reported. He will also attend a Pakistan-China Friendship and Business event and have meetings with the CEOs of leading Chinese companies working on the ChinaPakistan Economic Corridor (CPEC) projects. Several MoUs between the two countries on cooperation in various fields are likely to be signed, the report said. Cash-strapped Pakistan's economy is facing severe headwinds, and it has formally requested the International Monetary Fund (

Pak PM in Beijing for talks with Xi to seek more investments, boost ties
Updated On : 06 Jun 2024 | 11:33 AM IST

PM Sharif calls Sino-Pak relations 'unshakable' during China visit

Prime Minister Shehbaz Sharif on Tuesday emphasised that Pakistan's all-weather relationship with China was "unshakable" as he embarked on a five-day official visit to Beijing to further bolster bilateral ties and to launch the second phase of the multi-billion dollar CPEC projects in his country. Sharif will be in China from June 4 to 8 at the invitation of Chinese President Xi Jinping. The 72-year-old leader embarked on his first visit to China after he took over as prime minister for the second term after his Pakistan Muslim League-Nawaz (PML-N) party-led coalition government assumed power in March. During his visit, Sharif will hold talks with Chinese President Xi and jointly draw a blueprint for the growth of China-Pakistan relations, Chinese Foreign Ministry spokesperson Mao Ning said in Beijing last week. During Sharif's visit, the two countries are expected to launch the second phase of the USD 60 billion China-Pakistan Economic Corridor (CPEC). The CPEC, which connects Gw

PM Sharif calls Sino-Pak relations 'unshakable' during China visit
Updated On : 05 Jun 2024 | 5:17 AM IST

Shehbaz Sharif in China: Why Pakistan's hopes for 'CPEC 2.0' may be dashed

Pakistani Prime Minister Shehbaz Sharif's visit to China will see the formal launching of the second phase of the China-Pakistan Economic Corridor, Pakistani media had reported last month

Shehbaz Sharif in China: Why Pakistan's hopes for 'CPEC 2.0' may be dashed
Updated On : 03 Jun 2024 | 7:41 PM IST

Objective view emerging in Pak: MEA on Sharif's comments on Lahore pact

Days after former Pakistani prime minister Nawaz Sharif admitted that Islamabad had violated the Lahore pact, India on Thursday said an objective view is emerging on the issue in the neighbouring country. Sharif on Tuesday said Islamabad had "violated" an agreement with India signed by him and former prime minister Atal Bihari Vajpayee in 1999, in an apparent reference to the Kargil misadventure by General Pervez Musharraf. "You are aware of our position on the issue. I need not have to reiterate that. We note that there is an objective view emerging in Pakistan as well on this matter," Ministry of External Affairs spokesperson Randhir Jaiswal said. He was replying to a question on the matter at his weekly media briefing. After a historic summit in Lahore, then Indian Prime Minister Vajpayee and Sharif signed the Lahore Declaration on February 21, 1999. The agreement that talked about a vision of peace and stability between the two neighbouring countries signalled a breakthrough.

Objective view emerging in Pak: MEA on Sharif's comments on Lahore pact
Updated On : 30 May 2024 | 8:11 PM IST

Long march in Pak for reopening Iran border crossing amid severe shortages

The marchers plan to escalate their demonstration upon reaching Quetta

Long march in Pak for reopening Iran border crossing amid severe shortages
Updated On : 30 May 2024 | 6:58 AM IST

Ex-Pak PM Nawaz Sharif set to be re-elected as PML-N president after 6 yrs

Three-time former prime minister Nawaz Sharif is set to be re-elected as the President of the ruling Pakistan Muslim League-Nawaz (PML-N) party here on Tuesday, six years after losing the post following a Supreme Court ruling in the Panama Papers case. The Dawn newspaper reported that the General Council meeting is set to take place at a local hotel. It is likely that the 74-year-old veteran politician, who returned to Pakistan in October last year after a four-year self-imposed exile in the UK, will be elected unopposed even though as many as 11 party members have received the nomination papers for the top post, the report said. The PML-N had earlier announced convening the general council meeting on May 11 but it was postponed to coincide with the celebration of 26 years of Pakistan becoming a nuclear power, the report said. PML-N Punjab president Rana Sanaullah, while addressing a press conference, hinted that the elder Sharif would be elected without a contest. Responding to a

Ex-Pak PM Nawaz Sharif set to be re-elected as PML-N president after 6 yrs
Updated On : 28 May 2024 | 12:08 PM IST

1998 nuke tests ensured 'credible minimum deterrence', says Pak PM Sharif

Commemorating the 26th anniversary of Pakistan's first successful nuclear tests, Prime Minister Shehbaz Sharif on Tuesday said it encapsulates the arduous yet remarkable path of the country towards establishing a "credible minimum deterrence. Pakistan conducted six nuclear tests on May 28, 1998, inside a deeply dug tunnel in the remote Chaghi mountain of Balochistan province, as a tit-for-tat response to India's nuclear tests in the same month at the Indian Army's Pokhran Test Range. Pakistan's nuclear tests, state-run Radio Pakistan, said was conducted in response to the regional security dynamics and one that ensured that Pakistan's defence capabilities were robust and credible. Pakistan became the seventh nuclear nation in the world and the first Muslim state in 1998 having the nuclear arsenal in its defence stockpile to exercise deterrence. Designated as Youm-e-Takbeer, translated as the day of greatness' or the day of God's greatness', and observed annually with national zeal

1998 nuke tests ensured 'credible minimum deterrence', says Pak PM Sharif
Updated On : 28 May 2024 | 11:58 AM IST

Pak PM Sharif to visit China next month for launch of 2nd phase of CPEC

Pakistan Prime Minister Shehbaz Sharif will visit China in the first week of next month to join the formal launching of the second phase of the USD 60 billion China-Pakistan Economic Corridor, according to a media report on Saturday. A source in the Prime Minister's Office told the Dawn newspaper that Prime Minister Sharif was scheduled to leave for China on June 4, but the date of the visit could slightly be changed. The CPEC, which connects Gwadar Port in Pakistan's Balochistan with China's Xinjiang province, is opposed by India as it is being laid through Pakistan-occupied Kashmir (PoK). Infrastructure and energy projects were part of the CPEC's first phase. In CPEC-II, both countries will focus on agriculture, Main Line-I of Pakistan Railways, businessmen-to-businessmen deals and realignment of the Karakoram Highway (KKH) etc. While presiding over a meeting of representatives of Chinese companies on Friday, the prime minister said that Pakistan wanted to benefit from Chinese ..

Pak PM Sharif to visit China next month for launch of 2nd phase of CPEC
Updated On : 25 May 2024 | 11:40 AM IST

Pakistan's former PM Imran Khan, other leaders acquitted in vandalism cases

In a relief to beleaguered Imran Khan, a district and sessions court in Pakistan on Monday acquitted the jailed former prime minister and other leaders of his Pakistan Tehreek-e-Insaf party in two vandalism cases. The court's verdict in the two cases related to the vandalism during the March 2022 long march came during the hearing of acquittal pleas filed by the 71-year-old PTI founder and other politicians, Geo News reported. Other leaders of the party who were acquitted included Zartaj Gul, Ali Nawaz Awan, Faisal Javed, Shah Mahmood Qureshi, Qasim Suri, Raja Khurram Nawaz, Shireen Mazari, Saifullah Niazi, Asad Umar and Awami Muslim League chief Sheikh Rashid Ahmad. The cases against Khan and other politicians were registered in the Kohsar and Karachi Company police stations for violation of Section 144 imposed by authorities following the arrest of the former prime minister in an alleged corruption case. Speaking with journalists here, Khan's lawyer Naeem Panjotha said the cases

Pakistan's former PM Imran Khan, other leaders acquitted in vandalism cases
Updated On : 20 May 2024 | 2:58 PM IST