Pakistan, Russia reaffirm to boost ties
Foreign Minister Senator Ishaq Dar reaffirmed Pakistan's strong commitment to its ties with Russia.
He was talking to Deputy Foreign Minister of Russia, Sergei Ryabkov, who called on him Thursday.
It was agreed to pursue a long-term, multi-dimensional partnership spanning trade, energy, security, culture, education and people-to-people exchanges, said a news release by the DPM's Office.
The two countries have been steadily building trust since the end of Cold War. Russia is one of the biggest exporters of oil, gas, gold and wheat in the world. Pakistan badly needs all these items.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
a day ago
- Business Recorder
Vladimir Putin approves big revamp of Russia's navy, Kremlin aide says
MOSCOW: Russian President Vladimir Putin has approved a new naval strategy which aims to fully restore Russia's position as one of the world's leading maritime powers, Kremlin aide Nikolai Patrushev said in an interview published on Monday. Russia has the world's third most powerful navy after China and the United States, according to most public rankings, though the navy has suffered a series of high-profile losses in the Ukraine war. Patrushev, a former KGB officer who served with Putin in the northern Russian city of St Petersburg during Soviet times, said the new naval strategy - entitled 'The Strategy for the Development of the Russian Navy up to 2050' - had been approved by Putin in late May. 'Russia's position as one of the world's greatest maritime powers is gradually recovering,' Patrushev told the Argumenti i Fakti newspaper in an interview. 'It is impossible to carry out such work without a long—term vision of the scenarios for the development of the situation in the oceans, the evolution of challenges and threats, and, of course, without defining the goals and objectives facing the Russian Navy,' Patrushev said. Putin says Ukraine wants ceasefire to rearm and mobilise Patrushev gave no further details about the strategy, though Russia has ramped up spending on defence and security to Cold War levels as a percentage of gross domestic product. A US Department of Defence report said in 2021 that China had the largest navy in the world and that Beijing's overall battleforce is expected to grow to 460 ships by 2030. Open source data suggests Russia has 79 submarines, including 14 nuclear powered ballistic missile submarines, as well as 222 warships. It's main fleet is the Northern Fleet headquartered in Severomorsk on the Barents Sea.
Business Recorder
3 days ago
- Business Recorder
London stocks advance after US jobs data quells slowdown worries
LONDON: British equities rose in broad-based gains on Friday after a US jobs report allayed concerns of an economic slowdown in the world's biggest economy, with both UK blue-chips and midcaps clocking weekly advances. Global risk assets ticked higher after data showed US job growth slowed in May amid uncertainty around US President Donald Trump's tariffs, but solid wage growth should keep the economic expansion on track. 'The US jobs report data for May suggests the economy is holding up and far from recessionary,' said Janet Mui, head of market analysis at wealth manager RBC Brewin Dolphin. The blue-chip FTSE 100 gained 0.3%, while the more domestically-oriented FTSE 250 ended 0.4% higher. Both indexes clocked firm weekly gains. On the day, heavyweight banks were among the top gainers, with Standard Chartered up 2.9%, HSBC up 1% and Barclays climbing 1.9%. Precious metal miners, the best performing FTSE 350 sector this week, lagged on Friday, clocking a 1.8% decline. Aerospace and defence shares - which jumped earlier this week after Prime Minister Keir Starmer pledged the largest sustained increase in British defence spending since the end of the Cold War - gave some of those gains back, to fall 0.8%. The week has been a volatile one for global markets as investors grappled with ever-changing global trade dynamics. Trump doubled tariffs on steel and aluminium imports, though the UK received an exemption. Trump and Chinese leader Xi Jinping also confronted weeks of brewing trade tensions in a rare leader-to-leader call on Thursday that left key issues to further talks. Back in the UK, Finance Minister Rachel Reeves is scheduled to hold her first multi-year spending review on June 11 and is expected to divvy up more than 2 trillion pounds ($2.7 trillion) of public money between her ministerial colleagues.
Express Tribune
4 days ago
- Express Tribune
Dar-led body to oversee funding strategies for dams
Listen to article Prime Minister Shehbaz Sharif on Thursday termed India's unilateral suspension of the Indus Waters Treaty (IWT) as "a blatant violation and act of water aggression" and warned that Pakistan will give a befitting response under the decisions taken in the April 24 National Security Committee (NSC) meeting. Chairing a high-level meeting on water resources at the Prime Minister's House, he vowed that, just as Pakistan achieved victory in the recent war, it would also triumph on the water front. Emphasising the urgency of enhancing water storage, PM Shehbaz Sharif ordered the establishment of a high-powered committee under Deputy PM Ishaq Dar to oversee funding strategies for new dam projects. The committee will include all provincial chief ministers, the Prime Minister of AJK, and relevant federal ministers, and is directed to submit its recommendations within 72 hours. "We will prioritize the construction of non-controversial reservoirs. Wherever there is unanimity, we must act without delay. These dams are not political - they are a national necessity," the Prime Minister said. He made it clear that any project with cross-provincial consensus will be fast-tracked and completed on a priority basis. A detailed briefing was given during the meeting on Pakistan's water infrastructure. Officials informed the participants that the construction of the Diamer-Bhasha dam is underway and expected to be completed by 2032, while the Mohmand dam is likely to be completed by 2027. Currently, Pakistan has 11 dams with a total storage capacity of 15.318 million acre-feet. Under the Public Sector Development Programme (PSDP), 32 small and large dams are under construction, while 79 projects are underway under annual development programs. "This is a battle of justice, and like every battle we have fought with unity, we will defeat India's water aggression with resolve and wisdom," said the prime minister. He emphasised that living nations confront challenges head-on and make strategic, lasting decisions to protect their future generations. PM Shehbaz Sharif said that the Indian threats to weaponise water by attempting to violate the 1960 Indus Waters Treaty are increasing each day. He highlighted that the treaty, a binding international agreement, does not allow any party to unilaterally withdraw, and India's claims are politically and legally hollow. All provincial chief ministers, along with the leadership of AJK and Gilgit-Baltistan, strongly condemned India's water threats and unanimously reaffirmed their support for the federal government's position. The Prime Minister lauded this united stance, calling it "a reflection of our collective national resolve to protect Pakistan's water security". PM Shehbaz also pointed to the serious problem of silting in existing reservoirs like Tarbela and Mangla, which has drastically reduced their water retention capacities. He said bold decisions must be taken now, or history will judge today's leadership harshly. "We owe it to our 240 million people to act decisively. This is not about politics — it's about survival. The future generations must remember this leadership with respect for the choices we make today," he declared. PM Shehbaz congratulated the Finance Minister, Economic Affairs Minister, and relevant secretaries for successfully securing loans from the World Bank and Asian Development Bank despite strong Indian lobbying. "India tried to sabotage our projects at the ADB for three days, but failed. Our diplomatic victory is a testament to Pakistan's principled stand and growing credibility," he noted. Concluding the meeting, the Prime Minister reaffirmed his unwavering belief in the collective strength of Pakistan's national, provincial, and military leadership. "Just as our brave armed forces stood firm in the battlefield, we must now stand united in securing every drop of water for our people," he said. The meeting was attended by Deputy Prime Minister Ishaq Dar, Field Marshal COAS General Asim Munir, Defense Minister Khawaja Asif, Planning Minister Ahsan Iqbal, Law Minister Azam Nazir Tarar, Information Minister Attaullah Tarar, Power Minister Owais Leghari, Water Resources Minister Muneeb Wattoo, and other key federal cabinet members. Punjab Chief Minister Maryam Nawaz, Sindh Chief Minister Murad Ali Shah, KP Chief Minister Ali Amin Gandapur, Balochistan Chief Minister Sarfraz Bugti, AJK PM Anwarul Haq, and GB Chief Minister Gulbar Khan were also present, along with senior civil and military officials.
