Kazakhstan to join TAPI Gas Pipeline Project
Kazakhstan is set to officially announce its participation in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, heralding a new chapter in regional energy cooperation.
This development was shared by the Ambassador of Kazakhstan during a meeting with Pakistan's Federal Minister for Science and Technology, Khalid Hussain Magsi, held in Islamabad on Tuesday.
The high-level meeting focused on strengthening bilateral ties in key areas, including education, scientific research, and technological collaboration.
Both sides expressed a firm commitment to deepening strategic cooperation between Kazakhstan and Pakistan.
Khalid Hussain Magsi revealed that both nations are in the process of finalising several Memorandums of Understanding (MoUs) aimed at boosting collaboration in the education sector.
He welcomed Kazakhstan's interest in enhancing institutional linkages, particularly the proposal to establish a joint research centre at the National University of Sciences and Technology (NUST) in Islamabad.
The Kazakh ambassador underscored the importance of creating a conducive business environment and proposed collaborative measures to curb smuggling.
He emphasised that Kazakhstan views Pakistan as a key regional partner in achieving shared goals of economic connectivity and scientific advancement.
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Express Tribune
5 hours ago
- Express Tribune
A terror tag and a diplomatic turn
Just days before President Donald Trump's inauguration for the second term, a senior Pakistani diplomat briefed a group of people including experts and journalists in Islamabad. His focus was on the Pakistan-US relationship under Trump's administration. The bottom line was: Pakistan should be prepared for a tough challenge. According to the diplomat, Trump's team was surrounded by people who had little sympathy for Pakistan. Experts and those who understand Trump as well as the nature of Pakistan-US ties echoed similar sentiments. There was consensus that despite the unpredictable nature of Trump, there was little or no room for better prospects of Pakistan-US ties. On the contrary, everyone agreed that the relationship between the US and India would only deepen under President Trump's second term. But when President Trump delivered a maiden address to the US Congress, he praised Pakistan. This was some achievement given that until then he spared no one. He launched a diatribe both against friends and foes. Pakistan was the only exception, which Trump mentioned in a positive way. His praise stemmed from Pakistan's assistance in arresting one of the key masterminds of the Abbey Gate bombing in Kabul in August 2021. Muhammad Sharifullah, one of the ISIS-Khorasan operatives and according to the US was one of the facilitators of Kabul Airport attack, was apprehended on the intelligence provided by the CIA and swiftly handed over to the US. That cooperation not only earned Pakistan praise from Trump but also opened a channel of communication that would eventually lead to Field Marshal Syed Asim Munir being invited to launch at the White House in an unprecedented turn of events. When Trump applauded Pakistan at the US Congress, people were still sceptical that this bonhomie would be short-lived as Trump cannot be trusted. Questions were raised about what Pakistan had offered or was going to offer to the US in return for this cozying up approach of the US? Many people also wonder whether Pakistan would get anything in return. But what happened over the past few weeks following high-level exchanges and frequent interactions between the two countries was that Trump's praise was not mere rhetoric but now reflecting a shift in the US policy. The substantive outcome of Pakistan helping Trump to advance his domestic agenda by arresting Abbey Gate bombing facilitator was the US State Department's move to declare Balochistan Liberation Army and its suicide squad Majeed Brigade as terrorist outfit. The designation of BLA and the Majeed Brigade, as Foreign Terrorist Organisations (FTO), was a major victory for Pakistan. Islamabad had long sought its listing but with little success. The US declared Tehreek-e-Taliban Pakistan (TTP) as a terrorist outfit but successive US administrations refrained from taking a similar stance against groups active in Balochistan. One of the reasons included that such groups including BLA and Majeed Brigade were targeting not just the Pakistani interests but also primarily the Chinese interests in the resource-rich Balochistan province. This in many ways probably served the agendas of those who don't want China's Belt and Road Initiative (BRI) to succeed. That was the reason the US decision was extraordinary. The United States not only listed BLA and Majeed Brigade but also seems to be ready to extend cooperation to Pakistan to fight them. The two countries held counterterrorism dialogue, a regular feature, in Islamabad recently. The noticeable change was that for the first time BLA made it to the joint statement. Both delegations underscored the 'critical importance' of developing effective approaches to terrorist threats, singling out the BLA alongside transnational outfits. Washington lauded Islamabad's 'continued successes' in containing entities that threaten regional and global peace. Therefore, listing of BLA and Majeed Brigade is a development that carries legal, political, diplomatic, and operational implications for Pakistan, the US, and even India. First, any BLA or Majeed Brigade funds or property in the US jurisdiction are now frozen. Members and affiliates are barred from entering the US. Providing material support to the group is now a serious US federal crime, even for individuals outside the US if they have US connections. The designation makes it harder for BLA to raise funds internationally through charities, front companies, or sympathetic diaspora groups. The FTO tag makes it riskier for members to travel abroad or seek asylum in countries aligned with US counterterrorism policies. The US can now more actively share intelligence with Pakistan and allies to track, disrupt, or eliminate the group's cells. Diaspora-based sympathisers in the West could face monitoring and prosecution. If BLA finds safe havens in neighbouring states including Afghanistan, the US listing pressures those governments to take action or face reputational costs. While the designation won't end the insurgency, it can weaken its external support structure, especially for high-profile suicide attacks like those by the Majeed Brigade. Second, Pakistan has long stated that BLA is a foreign-backed terrorist group responsible for attacks in Balochistan. The US designation is an international endorsement of that position. Third, India has openly supported Baloch separatists. The US move signals that Washington is not aligning with New Delhi on this issue. Fourth, this listing highlights a warming security relationship between Pakistan and the US. Fifth, quietly, this could create discomfort in New Delhi if US counterterrorism measures start exposing any Indian contacts with Baloch separatists. It is not said publicly but the US move could also be linked to its keen interest in the untapped mines and minerals resources available in abundance in Balochistan. But security is a major challenge. Some view the US interest in mines and minerals with suspicion. The view, nevertheless, in official Pakistani circles is that the US investment in Balochistan could stabilise the situation and it may lay the bases for long-term cooperation between the two countries. The listing of BLA and Majeed Brigade is being seen in that context.


Business Recorder
9 hours ago
- Business Recorder
US-India trade talks scheduled for August called off, source says
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Express Tribune
13 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.