With this treasure...: Asim Munir's 'rare earth' boast after oil deal with US
"Pakistan has a rare earth treasure; with this treasure, Pakistan's debt will also be reduced, and Pakistan will soon be counted among the most prosperous societies," Jang quoted Munir saying in his column.As Trump edges closer to Islamabad after his fallout with New Delhi over Russian oil purchases and its reluctance to acknowledge what he calls his role in the ceasefire deal following Operation Sindoor, The Washington Post reported that the US President's new-found interest in Pakistan is "less about oil than about access to minerals and rare earths," even as Islamabad received its first-ever crude oil shipment from the US under the trade deal.Trump's sudden policy shift in South Asia, driven by efforts to deepen military ties with Pakistan and develop its oil fields, comes at a time when US-India relations have suffered a setback following Washington's decision to levy 50 per cent tariffs on Indian goods.The column further put forth what Munir described as his counterbalancing act and expressed confidence in not "sacrificing one friend for the other."The last time Pakistan claimed to have discovered a 'massive oil reserve,' it soon turned out to be a hoax. In 2019, then-Prime Minister Imran Khan announced a 'possible massive find' offshore. However, the dream of unearthing 'Asia's largest oil and gas reserve' was short-lived, as the Petroleum Division later dismissed the claims, saying the drilling did not yield the expected results, according to a report in Pakistan's Dawn newspaper.- EndsTune InTrending Reel
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
