&w=3840&q=100)
US invites Pakistan Army Chief Munir for Army Day celebrations on June 14
Washington likely to raise terror concerns and China-Pakistan ties during General Munir's visit for US Army's 250th anniversary
Himanshu Thakur New Delhi
Pakistan's Chief of Army Staff (CAOS), General Syed Asim Munir, has been invited by the United States to attend the 250th anniversary of the US Army on June 14, the same day as US President Donald Trump's 79th birthday. General Munir is expected to arrive in Washington, DC on June 12, according to a report by CNN-News18.
The visit, while ceremonial on the surface, carries deeper strategic implications. The US is expected to use the occasion to press Pakistan to act against terrorist groups operating against India, especially in the wake of recent tensions triggered by Operation Sindoor, India's retaliatory strike following the Pahalgam terror attack on April 22.
Strategic overtones and China concerns
Although framed as part of a broader military celebration, the invitation to Munir is viewed as part of Washington's recalibration of its regional strategy. The US is reportedly concerned about Pakistan's deepening economic and military ties with China, particularly through the China-Pakistan Economic Corridor (CPEC) and Belt and Road Initiative (BRI).
Economic backdrop
On May 14, the International Monetary Fund (IMF) disbursed a $1.023 billion tranche under the Extended Fund Facility, following a broader understanding between New Delhi and Islamabad after Operation Sindoor.
Pakistan's Finance Minister Muhammad Aurangzeb presented the national budget for FY 2025–26 on June 10, with a notable 20 per cent increase in defence spending to PKR 2.55 trillion ($9 billion). The budget reflects heightened security concerns following the cross-border conflict with India.
The total budget outlay stands at PKR 17.573 trillion ($62 billion), marking a 6.9 per cent decrease from the previous year. Notably, military pensions worth PKR 563 billion ($1.99 billion) remain outside the formal defence allocation.
Pakistan's public debt reached PKR 76,000 billion in the first nine months of the fiscal year, with projected GDP growth of just 2.7 per cent, far behind the regional average of 5.8 per cent reported by the Asian Development Bank for 2024.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


NDTV
36 minutes ago
- NDTV
2 Lakh Cyber Attacks On India's Power System During Op Sindoor: Minister
There have been two lakh cyber attacks on the power sector in India during 'Operation Sindoor'. In the first such confirmation of massive cyber attacks during India-Pakistan clashes, the government today said all the attacks were foiled and the power system is working perfectly. "Two lakh cyber attacks on the power system have taken place. All these attacks have been thwarted," said Union Power Minister Manohar Lal Khattar. He was addressing a press conference on the completion of 11 years of the BJP-led Central government. To a question by NDTV, the minister said that cyber attacks started after India launched 'Operation Sindoor' - in retaliation for the Pahalgam terror attack - and continued for 8 to 10 days. In Jammu and Kashmir, most of the official sites, including power, were targeted, and some are still struggling to be restored. The cyber attacks have affected public services and the official functioning of various departments. On May 7, India woke up to the news of "focused, measured and non-escalatory" strikes of the Armed Forces on the terrorist infrastructure in Pakistan and Pakistan-occupied Kashmir. Nine terror launchpads were targeted within 25 minutes in the operation. The mission was named 'Operation Sindoor' - a codename to avenge the widows of the April 22 attack, wherein 26 civilians - all men - were killed in cold blood by terrorists linked to an offshoot of Lashkar-e-Taiba. The precision terror strikes on terror launch pads were met with Pakistani aggression. The Pakistani military tried to target several cities in India using drones and other munitions, which were "repulsed" by the Indian forces. After four days of fighting, India and Pakistan reached an agreement to stop firing on May 10. Within hours, however, the deal was breached by Pakistan. It was responded to with a stern warning by the Armed Forces the next day: "India would retaliate fiercely to any violation in future".


Time of India
38 minutes ago
- Time of India
Auto sector pushes 3-step plan to cut China dependence for rare earth magnets
Squeezed for supplies, automakers have made a three-pronged suggestion to improve supplies of rare earth magnets over the next three years to reduce dependence on China. The Indian auto industry made a presentation to the ministry of heavy industries last week detailing strategies to attain self-sufficiency in supply chains . It suggested incentives for Indian companies to start local assembly of rare earth magnets, recycling of used magnets and outreach to resource-rich countries such as Australia, Vietnam, Chile, and Peru to secure supplies. Over a longer 3-10 years phase, they have proposed incentives to be introduced for large industrial players to set up manufacturing units for rare earth magnets with backward integration for raw material. Auto parts makers are likely to run out of stock of rare earth magnets early next month, which is likely to affect production of about a dozen critical components that go into electric vehicle motors as well as vehicle speed detection and automatic gear shifting systems. China announced export controls on medium and heavy rare earth-related items with a view to 'safeguarding national security' on April 4 in response to US President Donald Trump's tariffs. China accounts for about 70% of global rare earth metals mining and nearly 90% of production. 'The goal should be to ensure that India develops not only downstream capabilities but also upstream processing infrastructure', automakers said in the presentation, a copy of which was reviewed by ET. 'Financial and policy support must be provided to encourage public private partnership,' to build a complete domestic value chain, it said. This would include incentives for encouraging local mining and production of heavy rare earth magnets. However, till the time local mining, ore magnet production arrangements are done, the government must undertake measures to arrange for import from non-China based sources like Vietnam, Brazil, Russia, among others. In the near-term, though, the industry has said that the Indian government engages with counterparts in Beijing to relax export restrictions and help in expediting export control licenses so that automobile production in the country is not disrupted. 'While those making electric vehicles will be particularly impacted, the restriction eventually will affect all companies as these magnets are used in several key components including in electric power steering, parts for engine cooling and sensing exhaust gas concentration, engine spark ignition, among others,' said a senior industry executive on condition of anonymity, While some parts makers in Europe recently got approvals to source rare earth magnets, their Indian arms are yet to get a go-ahead from the Chinese ministry of commerce. The issue is complicated by the tense business and political relationship between India and China, experts said. As many as 35 Indian component makers import rare earth magnets from China. In its latest report CareEdge Ratings said delays in rare earth elements (REE) shipments for Indian auto OEMs may impact electric, Internal Combustion Engine (ICE) and hybrid vehicle production starting July 2025, particularly higher-end models that depend on REE-based technologies. 'Automakers might need to shift focus to mid-range or base models to address supply disruption. However, China's recent decision to temporarily allow REE exports to top US automakers offers hope for resolving the impasse for Indian companies as well', the ratings agency said in a note Thursday.
&w=3840&q=100)

Business Standard
an hour ago
- Business Standard
Tangled trade ties: US-China agreement offers little hope of breakthrough
For other trading partners, the US-China deal, as it currently stands, suggests that tariffs would settle at significantly higher levels than before the announcement of the so-called reciprocal tariff Business Standard Editorial Comment Mumbai Listen to This Article United States (US) President Donald Trump on Wednesday said that he was willing to extend the July 9 deadline to complete the ongoing trade negotiations. In a state of heightened trade and economic incertitude, this will only provide marginal relief to the US' trading partners. However, this, in part, reflects the US administration's acceptance of the fact that negotiating trade agreements with individual countries is a complex and time-consuming exercise. America is reported to be negotiating trade agreements with 15 large trading partners. India is also in the process of finalising a trade agreement with the US, though it is