
Dar, Iranian president discuss bilateral ties
In the meeting, Dar reaffirmed Pakistan's deep commitment to its historic and brotherly relations with Iran, underscoring the strong foundations of the relationship rooted in shared history, cultural heritage, faith, and mutual respect, according to an official statement issued here.
President Pezeshkian expressed appreciation for Pakistan's continued support and reiterated Iran's resolve to enhance bilateral cooperation in areas of mutual interest.
He also expressed optimism about holding meaningful discussions with Pakistani leadership aimed at further strengthening political and economic ties between the two neighbouring nations.
Meanwhile, Dr addressed the Pakistan-Iran Business Forum, in the presence of President of Iran and the high-level accompanying delegation.
Reaffirming the deep-rooted brotherly ties between Pakistan and Iran, the Dar underscored Pakistan's commitment to enhancing economic cooperation and regional connectivity. He welcomed the positive momentum toward finalizing the Pakistan-Iran Free Trade Agreement (FTA).
He emphasised that economic diplomacy is a cornerstone of Pakistan's foreign policy. The Pak-Iran FTA and platforms like the Business Forum are vital for strengthening bilateral trade and promoting collaboration across key sectors, including energy, agriculture, manufacturing, and technology.
Copyright Business Recorder, 2025
Hashtags

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


Business Recorder
7 hours ago
- Business Recorder
Pakistan risks wasting ‘golden opportunity' in US market: FPCCI
Despite securing the lowest tariff rates on exports to the United States in the region, Pakistan risks losing this competitive edge due to high energy costs and production inefficiencies, warned Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). The United States has lowered its reciprocal tariff rate on Pakistani goods to 19%, compared to the 20–25% imposed on regional competitors such as Bangladesh, Vietnam, and Sri Lanka. Meanwhile, archrival India faced a 50% tariff after US President Donald Trump issued an executive order imposing an additional 25% tariff on goods from India on Wednesday, adding to the 25% tariffs already announced. 'The US has imposed the lowest tariff in the region on Pakistani products,' said Atif Ikram Sheikh, urging authorities to 'take full advantage' of this situation, read a statement on Thursday. However, higher production costs in Pakistan, as compared to other countries in the region, can neutralise this benefit, he warned. 'Taxes, high electricity rates and gas prices for the industry are a major obstacle to taking advantage of low tariffs,' said Sheikh, urging the government to take immediate action to resolve these issues and reduce energy prices for the industrial sector. 'A significant increase in exports, especially textiles, to the US is possible amid a reduction in production costs,' he said. The US administration struck a deal with Pakistan, in which Washington would work with Islamabad to develop the South Asian nation's oil reserves. 'We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves,' Trump wrote on social media. Islamabad described the deal as a marker of a broader partnership with Washington. Finance Minister Muhammad Aurangzeb, who led the final round of talks, said there was a larger economic and strategic agreement. The US is Pakistan's biggest trade partner. 'This golden opportunity should be taken advantage of,' said President FPCCI. He said that investment in the export sector is essential, saying that Pakistan must create a conducive environment for FDI. 'Low tariffs, single-digit interest rates, sustainable policies and long-term planning are the solution to the problems,' he said.


Express Tribune
8 hours ago
- Express Tribune
PSX maintains bullish trend
The Pakistan Stock Exchange (PSX) extended its upward momentum during intra-day trading on Thursday, with the benchmark KSE-100 Index gaining 823.10 points, current index at 145,911.59 — up 0.57% from the previous close of 145,088.49. The index touched an intraday high of 146,053.43 and a low of 145,250.17. Total trading volume stood at 171.85 million shares, while the market value reached PKR 20.41 billion. The market remained largely stable during the session, indicating sustained buying interest and institutional support. Read: PSX maintains record-shattering streak Earlier on Wednesday, PSX remained unstoppable on Wednesday as the KSE-100 index surged past 145,000 points, marking a new milestone in its record-shattering drive. The momentum was largely driven by banks and optimism about a positive outcome of the recent Pakistan-US trade agreement. Arif Habib Corp MD Ahsan Mehanti observed that stocks reached a new all-time high amid an upbeat economic outlook. "Strong rupee, rising global oil prices and government measures for incentivising remittances and power sector reforms fuelled the bullish close at the PSX, he noted. KTrade Securities analyst Ahmed Sheraz commented that the stock market continued its bullish streak, with the KSE-100 index gaining 2,051 points day-on-day to close at a new all-time high of 145,088. Banks remained key drivers of the rally. JS Global analyst Muhammad Hasan Ather said that investor optimism was fuelled by corporate earnings, improving economic indicators and expectations of supportive government policies. Gains were broad-based, led by banking, energy and fast-moving consumer goods sectors, he said.


Business Recorder
8 hours ago
- Business Recorder
Auto sector woes: What's good for Australia may not be good for Pakistan
As a lingering post-colonial inferiority complex continues to shape our national thinking, many still look to the West as a shining example – a blueprint for modernity. But what works for their today may not be what Pakistan needs for its tomorrow. As our policy-makers inch closer to opening used car imports and scaling back support for the local industry, decisions that could trigger rapid deindustrialisation and the quiet, seemingly permanent closure of Pakistan's automotive sector, they would do well to pause. On the surface, it may appear that 'even Australia did it.' But scratch deeper, and the differences couldn't be starker. In 2010, Australia had an 80-year-old automobile industry that was producing a around 239,443 vehicles annually to fulfil local demand. Pakistan's auto policy: fueling imports, killing industry But something else happened that year too. The Australian government liberalised the sector by reducing tariffs to just 5%, expecting global efficiency and higher exports. The result: swift deindustrialisation. Multinational brands found it cheaper to shut local operations and import from their foreign plants. By 2017 all local plants had closed. Yet interestingly, global brands like Toyota continued to dominate. It was number one in 2017, and still the market leader in 2024. And the market size? Still hovering around 1.2 million vehicles, 7 years later. The difference? A decade ago, those cars were built by Australians, using locally made components made with cutting-edge technology. Today, they're all imported. If a mature, exporting industry couldn't survive liberalisation, what hope does a nascent Pakistani industry have? But Australia liberalised its auto sector from a position of strength. It was a post-industrial, high-income economy characterised by high-value exports, strong services and mining sectors, and clear alternatives to cushion the shock. Pakistan, by contrast, is still in the early stages of industrial maturity. The direction we're being nudged toward seems driven by abstract ideas of 'efficiency' and 'resource reallocation.' In theory, this sounds great. In practice, it's dangerously vague. Where exactly are these so-called 'more efficient' destinations for capital? Has anyone mapped them? Is the investment already sunk into the automotive sector ready to be reallocated? Have the 2.5 million people directly or indirectly employed in the ecosystem been offered meaningful alternatives? Or are policymakers once again making decisions in haste, without regard for the industrial ecosystem they're about to dismantle? Australia's withdrawal was strategic, a pivot to areas better suited to its demographic and economic structure. But what is Pakistan pivoting to? With a population of 240 million, Pakistan has no shortage of labour or talent. Nor does it benefit from a surplus of high-value service exports. So why spend scarce foreign reserves importing fully built-up vehicles, when it can use that same capital to feed its own manufacturing base, grow the domestic parts industry, and build a more self-reliant, value-adding automotive ecosystem? By 2010, Australia had completed its industrial learning curve. It had built the technical foundations that the automotive value chain naturally fosters – process engineering, supply chain integration, metallurgy, systems design. Pakistan, on the other hand, is still climbing that curve. Shutting it down now would be like dropping out of university before the first exam and calling yourself overqualified. Policy mimicry without context is a shortcut to structural ruin. Are we really choosing our future – or merely imitating someone else's past? It's time we learn to read our own map. The article does not necessarily reflect the opinion of Business Recorder or its owners.