Pak pavilion wins award at NY travel show
Pakistan Tourism Pavilion received the Best Partner Pavilion Award at the Travel & Adventure Show 2025, which kicked off in New York on Sunday, according to a statement. The Pakistan Tourism Development Corporation (PTDC) and the Trade Development Authority of Pakistan (TDAP) jointly set up the Pavilion in collaboration with the Consulate General of Pakistan, New York.
A total of 13 Pakistani companies, all provincial tourism departments and the PTDC set up their booths at the pavilion under the banner of the national tourism brand "Salam Pakistan".
The pavilion was inaugurated by Pakistan's Ambassador to US Rizwan Saeed Sheikh and Gilgit-Baltistan (G-B) Chief Minister Gulbar Khan. The event was attended by G-B Tourism Minister Ghulam Muhammad, and the Planning Minister Raja Nasir Ali Khan. The pavilion showcased Pakistan's breath-taking tourist destinations, rich cultural heritage, and a wide range of tourism services. A large number of visitors attended the pavilion on the first day of the show, expressing keen interest in mountaineering, adventure tourism, and religious tourism.
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Express Tribune
7 hours ago
- Express Tribune
PSX scales new peak despite profit-taking
Foreign funds would divert their liquidity into buying Pakistan's stocks. This would merely increases prices of shares and be profitable for those who already hold stocks. PHOTO: FILE The Pakistan Stock Exchange (PSX) extended its bullish run in the shortened four-day trading week, with the benchmark KSE-100 index hitting an all-time high of 147,005 points before closing at 146,492, up 1,109 points, or 0.8% week-on-week (WoW). The rally was fueled by robust corporate earnings, Moody's upgrade of Pakistan's sovereign rating to Caa1 and optimism about the declining circular debt in the power sector, though profit-taking capped gains by the week's end. On a day-on-day basis, bulls marched towards 150k on Monday with full excitement as the KSE-100 index breached 146k and ended the day at 146,930, up 1,547 points, in anticipation of a Pakistan-US trade deal. The bourse had a consolidation day on Tuesday where the KSE-100 floated in both directions and ultimately ended at 147,005 (+76 points) by keeping intact the 147k level as investors did some switching-cum-profit-taking. On Wednesday, profit-booking around 148k pushed the index to close negative at 146,529, down 476 points. After the break of the Independence Day, the PSX ended the last session of the week on a flat note, settling at 146,492, down 38 points. During the day, investors largely squared off weekly positions, which kept sentiment mixed and prevented the index from holding above the 147,000 mark. Arif Habib Limited (AHL), in its weekly review, noted that during the four-day trading week, shortened due to the Independence Day holiday, the KSE-100 index maintained its upward trajectory, reaching an all-time high of 147,005 points on Tuesday. The rally was fueled by healthy corporate earnings during the ongoing results season. Furthermore, Moody's upgraded Pakistan's sovereign rating to Caa1 from Caa2, citing improving external buffers, fiscal consolidation and reform progress under the IMF programme. In addition to this, the circular debt in the power sector declined to Rs1,614 billion as of June 2025, AHL said. In July, the auto industry recorded sales of 11,034 units, down 49% month-on-month (MoM) but up 28% year-on-year (YoY). Furthermore, oil production registered an uptick of 0.8% WoW, arriving at 59,604 barrels per day. Production at the Makori East and Nashpa increased during the week. Also, the Pakistani rupee appreciated marginally by 0.14% WoW, closing at 282.06 against the US dollar, it said. The sectors that contributed positively were banks (1,062 points), cement (531 points), auto parts (104 points), auto assemblers (67 points) and investment banks (62 points). Meanwhile, sector-wise negative contribution came from fertiliser (318 points), E&P (214 points), oil marketing companies (159 points), power (102 points) and refinery (43 points). Scrip-wise positive contribution came from Meezan Bank (354 points), Lucky Cement (289 points), HBL (253 points), Bank Alfalah (158 points) and Mari Petroleum (136 points). On the other hand, negative contributors were Fauji Fertiliser Company (313 points), Pakistan Petroleum (198 points), UBL (195 points), OGDC (171 points) and Hub Power (125 points). Average daily volumes arrived at 606 million shares, down 7.2% WoW, while the average traded value settled at $143.8 million, down 13.1%, AHL added. Wadee Zaman of JS Global mentioned that the KSE-100 extended its bullish streak during the outgoing week, touching the high of 147,534 points before slipping into the red on Friday. The index closed at 146,492 points, up 0.8% WoW. Investor sentiment was driven by Moody's upgrade of Pakistan's rating to Caa1 with the outlook changed to stable, reflecting the country's improving external position. On the economic front, he said, the power-sector circular debt dropped to Rs1.6 trillion by the end of June 2025, showing a notable reduction of 33% from last year's level of Rs2.4 trillion. It was largely attributed to the disbursement of Rs801 billion to power producers under the government's stock clearance drive. The Power Division is also expected to present its final proposal for the complete implementation of debt re-profiling with the Chinese independent power producers (IPPs), whose dues currently stand at Rs475 billion. Meanwhile, as per trade data, services' exports rose 9.2% YoY to $8.4 billion in FY25, Zaman said.
Business Recorder
12 hours ago
- Business Recorder
Dar in UK for AI, digital tech talks
ISLAMABAD: Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar, arrives in the UK for his official visit from 17-19 August to meet Deputy Prime Minister Angela Rayner, Parliamentary Under-Secretary of State for Pakistan, Hamish Falconer, Lord Wajid Khan, and Commonwealth Secretary-General, Shirley Ayorkor Botchwey. 'Focus of the visit is on strengthening Pakistan-UK ties, boosting cooperation in digital technology, artificial intelligence & entrepreneurship, and enhanced cooperation with the Commonwealth,' Foreign Office (FO) Spokesperson said on Saturday. British MPs, Kashmiri leaders, and representatives of Pakistani Diaspora would also call on the DPM/FM. Dar highlights Pakistan's potential in fintech, digital banking At the Pakistan High Commission in London, the DPM/FM would inaugurate pilot project by Punjab Land Record Authority and One Window Operation by IMPASS. 'Barring my long pre-scheduled official engagements with the Deputy Prime Minister of UK, Rt Hon Angela Rayner; Secretary General Commonwealth, Rt Hon Shirley Ayorkor Botchwey; Hamish Faulkner, Minister of State, UK Foreign Office; and members of the House of Commons and the House of Lords during my two-days visit to the UK, I will not be holding the planned community interaction with the British Pakistani diaspora,' he said. This decision has been taken in solidarity and respect for those who are grieving, and to ensure that our full attention remains on the national relief and recovery efforts. My sincere regrets to all the organizers of the community event. Dar is deeply saddened by the tragic loss of life and destruction caused by the recent cloudbursts and flash floods in Khyber Pakhtunkhwa and the northern parts of Pakistan. 'Our hearts go out to the families who have lost loved ones, to those who are injured, and many whose homes and livelihoods have been swept away,' he stated this in a statement on Saturday. The government of Pakistan is mobilising all available resources to provide relief and conduct rescue operations. Federal and provincial agencies, the armed forces, and local administrations are working tirelessly to reach affected communities and ensure the safety of our citizens, he added. Prime Minister has chaired an emergency meeting, and the government is in close coordination to address immediate needs and plan for the long-term recovery of the impacted areas. Dar urged all Pakistanis, at home and abroad, to keep the affected families in their prayers and to contribute in whatever way they can to the ongoing relief work. InshaAllah, together, we will overcome this difficult hour. Copyright Business Recorder, 2025
Business Recorder
12 hours ago
- Business Recorder
UAP railway line: ‘Suez Canal' of Asia?
The Suez Canal changed the geopolitical and geo-economic landscape of the world. Before the Suez Canal, South Africa was vital as a pit stop for every ship going to Europe - Asia route. After the Suez Canal, South Africa's prominence fell in favour of Egypt. Today, Iran is in shoes of South Africa, and after construction of Uzbekistan-Afghanistan-Pakistan (UAP) Railway Line, Pakistan can become Egypt for Central Asia. UAP promises to cut five days journey to the Arabian Sea as compared to the current Iranian route taken by Central Asian Republics. But there is a fine print, a technical hitch you may say, which can prevent this. Every time a train crosses a border, it literally falls off the tracks. That's the fate of cargo when two mismatched gauges meet—a phenomenon called 'break of gauge.' For the Uzbekistan-Afghanistan-Pakistan (UAP) Railway, gauge choice isn't a dry technicality: it's the very fulcrum of who wins the next Great Game in Central Asia. When two rail networks of different widths collide, freight must be unloaded from one set of wagons and shifted onto another. That process adds labour, equipment and handling time at every border crossing. For a single container, transshipment can tack on 12–24 hours and 10–20 percent extra cost before it even rolls on to the next country. Today's proposed trans-Afghan link threads through three incompatible systems: Uzbekistan's 1520 mm Russian gauge, Iran's 1435 mm standard gauge in western Afghanistan and Pakistan's 1676 mm broad gauge. At each frontier lies a breakpoint where goods stall and wallets bleed. In the 19th-century Great Game, break of gauge was weaponized to define imperial spheres of influence. Afghanistan, determined to remain neutral, refused rail construction altogether—so neither Britain nor Russia could rush troops or supplies across Herat or Kandahar. The result was freedom from invasion, but also from the trade boom rails brought elsewhere. Fast-forward to today: Iran has laid standard-gauge track into Herat and is pressing Kabul to adopt 1435 mm nationwide (including UAP railway line). From Bandar Abbas and Chabahar, Iranian exports could slide uninterrupted over Afghan steel all the way to Central Asia. Gwadar and Karachi would be sidelined. With no break of gauge, Iranian goods will undercut Pakistani exporters by virtue of lower handling fees and faster delivery. Afghan and Uzbek/Central Asian markets—hungry for textiles, machinery and staples—would shift their sourcing to Tehran. A standard gauge in Afghanistan for UAP railway line would be most detrimental to Pakistani interests as unloading/loading of cargo from trains would be done twice at TWO break of gauge points, i.e. between Pakistan-Afghanistan and Afghanistan-Uzbekistan border crossing points. This would make our trading goods uncompetitive to Iran and Pakistan's historical trading links would fray, and our ports' promise as regional gateways would dim. Some propose instead a full Russian-gauge corridor from Peshawar through Kandahar to Tashkent. That vision courts seamless freight to Moscow and beyond. But we must ask: did Pakistan invest in UAP railway line to feed Russia, or to empower our exporters in Punjab and Sindh for Central Asia and Afghanistan? Ambitions of a Russia-Europe freight pipeline risk burying Pakistan's immediate interests under distant geopolitical dreams. China and Turkey already dominate Eurasian corridors—our few wagons would be lost in the avalanche of cargo from the north. By contrast, extending Pakistan's broad gauge straight through Afghanistan creates a single uninterrupted artery from Karachi's port terminals to Uzbekistan's markets. No off-loads at Quetta or Mazar-i-Sharif; no extra crew shifts at Kabul; just one continuous steel ribbon to Termez (Uzbekistan). Broad gauge also carries heavier axle loads—up to 25 tonnes per axle, versus 22 tonnes on standard gauge—boosting per-train payloads by 10–15 percent. Eliminating break-of-gauge can cut per-ton freight costs by at least 20 percent, according to World Bank estimates for similar corridors. Those savings translate into cheaper fertiliser for Punjab farmers, cheaper cotton for our industry and more competitive textiles for European buyers. Rail corridors aren't just tracks—they are instruments of influence. A broad-gauge UAP railway positions Pakistan as the indispensable gateway to Central Asia, deepens Islamabad's diplomatic clout, and anchors Kabul within our economic orbit. It strengthens our ambition of integrated regional prosperity, linking Gwadar, Karachi and Lahore to Central Asia. Gauge choice is never just steel and sleepers—it's a statement of intent. Enforcing broad gauge railway line cements Pakistan's role as the region's commercial hub, preserves our competitive edge and ensures that UAP rail serves Pakistani trade interests first. As the Great Game enters its 21st-century chapter, let's not let another strategic detail, or hitch, derail our future. Let's make this Suez Canal work for us, instead of serving others. Copyright Business Recorder, 2025
