US eyes investment in Pak critical minerals
Washington and Islamabad hailed a trade deal last month, which Pakistan said would result in lower tariffs and increased investment.
Pakistan's Commerce Minister Jam Kamal has said Islamabad will offer US businesses opportunities to invest in mining projects primarily in Balochistan through joint ventures with local companies, providing concessions such as lease grants.
The province is home to key mining projects, including Reko Diq, run by mining firm Barrick Gold, opens new tab and believed to be one of the world's largest gold and copper mines.
"We look forward to exploring new areas of economic cooperation, including critical minerals and hydrocarbons, and fostering dynamic business partnerships," Rubio said late on Wednesday.
"The United States deeply appreciates Pakistan's engagement on counterterrorism and trade."
Before President Donald Trump's administration, Islamabad's relationship with Washington had cooled in recent years, as the US drew closer to Pakistan's traditional adversary India to counter China's rise, among other factors.
Washington also resented Islamabad over Afghanistan, especially under former President Joe Biden's administration, which oversaw a chaotic withdrawal from Afghanistan and the takeover of the country by the Taliban insurgency that Washington accused Islamabad of backing. Pakistan denied the charge.
In recent months, Washington's ties with Islamabad have improved. Trump took credit for a ceasefire between India and Pakistan after the Asian neighbors engaged in hostilities in May following an April attack in IIOJK.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
14 hours ago
- Business Recorder
Chinese foreign minister Wang Yi to visit India from Monday, China's foreign ministry says
BEIJING: Chinese foreign minister Wang Yi will visit India from Monday to Wednesday, China's foreign ministry said in a statement on Saturday, for talks about a disputed border in the Himalayas. This is only the second such meeting since a deadly clash in 2020 between Indian and Chinese troops at the border. Relations between the two Asian giants have been thawing since an agreement last October on patrolling their Himalayan border, easing a five-year standoff that had hurt trade, investment and air travel. India's Modi to visit China for first time in 7 years as tensions with US rise Indian Prime Minister Narendra Modi is set to meet Chinese President Xi Jinping at the end of the month when he travels to China - his first visit in seven years - to attend the summit of the Shanghai Cooperation Organisation, a regional security bloc.
Business Recorder
17 hours ago
- Business Recorder
Marka-e-Haq 14th August Youm-e-Azaadi: Message from Admiral Naveed Ashraf Nishan-e-Imtiaz (Military) Tamgha-e-Basalat Chief of the Naval Staff
On the auspicious occasion of Pakistan's 78th Independence Day, we stand united and grateful on being blessed with an independent and rejuvenated homeland. This day is not merely a remembrance of the past but a powerful reaffirmation of our collective resolve to build a country that stands as beacon of peace, prosperity and justice for its citizens, embodying the profound vision of our founding fathers. Let us recall the untiring struggle, indomitable courage and countless lives dedicated to securing a separate homeland where our dreams and aspirations could be realized. It is this foundational spirit that continues to inspire us to strive for social equity, economic growth and shared prosperity, ensuring that every individual finds dignity and opportunity within our borders. The Independence Day is significant as the entire nation gelled together and remained steadfast in preserving our freedom against the nefarious designs of our perennial enemy. Today's celebrations remind us that freedom is preserved through sacrifices, unity and resilience. During Marka e Haq, Allah SWT bestowed us with a precious victory owing to the grit and fortitude of our valiant Armed Forces against a Machiavellian adversary. This remarkable success stands as a powerful testament to the unwavering resolve, resilience and enduring spirit of the entire Pakistani nation. By the grace of Allah SWT, during these testing times, Pakistan Navy vigilantly guarded our maritime frontiers and remained alert and poised to respond to any misadventure at sea. Our perpetual readiness and unshakeable resolve kept the enemy at bay and ensured protection of our vital maritime interests and unhindered flow of trade. May Allah SWT keep us in His protection and grant us the strength to ensure impregnable defence of our country and enrich the glorious legacy of our predecessors in protecting our motherland with dignity, honour and pride. May the green flag embedded with white crescent and star always fly high with our borders secured, seas guarded and air defended from enemy's malice and rancor. Amen. Copyright Business Recorder, 2025
Business Recorder
17 hours ago
- Business Recorder
Marka-e-Haq 14th August Youm-e-Azaadi: Message from M. Shehbaz Sharif. Prime Minister of the Islamic Republic of Pakistan
Today, with gratitude to Almighty Allah, I extend my heartfelt felicitations to the nation on completion of 78 years of independence of Pakistan. I pay tribute to Father of the Nation, Quaid-i-Azam Muhammad Ali Jinnah, and the Thinker of Pakistan, Allama Muhammad Iqbal, who along with other resolute leaders and workers of the Independence Movement united the nation under one vision, one mission and one goal. Their relentless efforts changed the course of the history with the establishment of an independent, ideological state, thus realizing a seemingly impossible dream into a reality. The past 78 years tell a tale of resilience, strong faith and a hope of a bright future when as a nation, we braved several difficult challenges. Despite this, Pakistan achieved a series of milestones of success and achievements in every field. From economy to sports and defence to information technology, Pakistanis with their unparalleled determination and courage have written exemplary chapters of knowledge and skills. Pakistan's great victory in Marka-e-Haq during the war imposed by India on 6-10th May 2025 has not only increased the significance of freedom, but has also enliven a new ambition and enthusiasm in the hearts of Pakistanis, which has amplified the joy and celebrations of the Independence Day. With the blessings of Almighty Allah, our brave armed forces in their fight against India revived their past glory and shattered the false pride of enemy by acting as a Bunyan-um-Marsoos - a solid fortified wall. The military capability, valour and faith of our brave soldiers and air warriors forced the enemy to kneel down. We pay tribute to the martyrs who sacrificed their lives for the sake of our freedom and offer prayers for the elevation of their ranks in eternal life. It was not merely a military conquest, but also the victory of the validation of a Two-Nation Theory, which is the foundation of our dear homeland. With same passion, we stand vigilant to defend and safeguard our national interests including water resources. While expressing our resolve to protect Pakistan's sovereignty, we as a peaceful nation, reiterate our belief in the principles of peaceful coexistence and resolving the regional and global issues through dialogue and diplomacy. India also needs to demonstrate the same will for the resolution of all disputes, including the Jammu and Kashmir dispute. Our government has given priority to the welfare of common man. A prominent step in this regard is a significant cut in the rates of electricity, which has provided an across the board relief to the general public and industries. As a Prime Minister, I particularly express my commitment that the government is utilizing all resources to make the country effectively meet the new economic, industrial and technological demands of the present era. Apart from these policies and programmes, the main source of strength behind the progress of Pakistan is our unity. Like military prowess, a strong and stable economy is also inevitable for an impregnable national defence and sovereignty, for which we all need to demonstrate the spirit of Marka-e-Haq and the Pakistan Movement. On this occasion, I want to extend my sincere invitation to all political parties and segments of the society to join hands with us in strengthening our resolve to safeguard national interests. In this way, we can unitedly and collectively make our nation successful and prosper to help realize the dream of our forefathers and martyrs, which they had envisioned in the form of establishment of Pakistan. Copyright Business Recorder, 2025
