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Pakistan sees Saudi fast-food giant Al Baik’s entry boosting jobs, bilateral trade

Pakistan sees Saudi fast-food giant Al Baik’s entry boosting jobs, bilateral trade
Customers place orders at the Al Baik restaurant in Jeddah, Saudi Arabia, on January 10, 2021. (AlBaik/Facebook)
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Updated 09 February 2025
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Pakistan sees Saudi fast-food giant Al Baik’s entry boosting jobs, bilateral trade

Pakistan sees Saudi fast-food giant Al Baik’s entry boosting jobs, bilateral trade
  • The commerce minister meets Saudi business leaders in Jeddah, inviting them to invest in Pakistan
  • Jam Kamal says both sides have seen a 22% increase in trade volume that now stands at $700 million
Updated 09 February 2025
Muhammad Ibrahim
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ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan expressed hope on Saturday the investment of Saudi fast-food chain Al Baik in Pakistan would help generate employment opportunities, as he met Saudi businessmen in Jeddah to explore ways to enhance bilateral trade.
Al Baik, a popular Saudi brand specializing in fried chicken, has a strong following among Pakistani travelers to the Kingdom. The company signed a memorandum of understanding last year to enter the Pakistani market, capitalizing on its existing popularity.
Pakistan and Saudi Arabia have witnessed a 22% increase in bilateral trade volume that currently stands at $700 million. Saudi Arabia also remains Pakistan’s largest source of remittances, with $7.4 billion sent by expatriate workers last year.
During the visit, the commerce minister met Al Baik’s owner, Rami Abu Ghazaleh, who confirmed the company’s decision to open outlets in Pakistan, indicating that the agreement had reached its final stages.
“Al Baik’s arrival in Pakistan will create employment opportunities,” Khan said, according to an official statement. “Pakistan offers a favorable business environment and invites Saudi investors to explore opportunities.”




Pakistan Minister of Commerce Jam Kamal Khan (R) gestures with Rami Abu Ghazalah, CEO and co-owner of Saudi fast food chain AlBaik, during a visit to an outlet in Jeddah on February 7, 2025. (X/@jam_kamal)

Khan also highlighted the significant role played by Pakistani workers in Saudi Arabia’s economy and discussed his country’s new policy of granting visa-free entry with a 90-day stay for the nationals of Gulf Cooperation Council countries, facilitating greater business and labor mobility between the two states.
Beyond Al Baik, the minister engaged with other Saudi business leaders as well who showed interest in investing in Pakistan’s energy, information technology, agriculture and construction sectors.
He also invited them to attend upcoming trade events in his country.
Pakistan has been working to strengthen business-to-business (B2B) ties with Saudi Arabia.
During Prime Minister Shehbaz Sharif’s visit to Riyadh last October, both sides signed 34 agreements worth $2.8 billion to enhance private sector collaboration and commercial partnerships. Pakistani officials have since been following up on the commitments made between the two sides.

Topics: Albaik Saudi investment in Pakistan Pakistan Saudi Ties

Pakistan to hold Mar. 23 military parade on 'limited scale' due to Ramadan

Pakistan to hold Mar. 23 military parade on 'limited scale' due to Ramadan
Updated 2 min 30 sec ago
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Pakistan to hold Mar. 23 military parade on 'limited scale' due to Ramadan

Pakistan to hold Mar. 23 military parade on 'limited scale' due to Ramadan
  • Parade will mark 85th anniversary of Pakistan’s republic day celebrated each year on Mar. 23 to celebrate adoption of Lahore Resolution
  • Pakistan honors foreign dignitaries, national heroes with top civilian awards, features tanks, missiles, UAVs, and air defense systems at parade
Updated 2 min 30 sec ago
Arab News Pakistan

ISLAMABAD: The Pakistan Day military parade will be held this year on Mar. 23 on a “limited scale” due to the holy month of Ramadan, state-run media reported on Thursday, with contingents of the country’s three armed forces set to participate in the spectacle. 
The parade will be held on the 85th anniversary of Pakistan’s republic day, marked each year to celebrate the adoption of the Lahore Resolution by the Muslim League party, which called for the creation of an independent state for the Muslims of India on Mar. 23, 1940.
While last year the event was held at the Parade Avenue in Pakistan’s capital Islamabad, this year it is scheduled to take place within the premises of the Aiwan-e-Sadr or the official residence of Pakistan’s president. President Asif Ali Zardari will be the chief guest on the occasion, state broadcaster Radio Pakistan said. 
“Pakistan Day Parade will be held on Sunday on a limited scale with traditional enthusiasm,” it said. “The decision to hold the parade on a limited scale was made due to the month of Ramadan,” Radio Pakistan said. 
Pakistan Air Force (PAF) fighter jets will also conduct a fly past, a ceremonial or honorific flight by an aircraft or group of aircraft, during the occasion. 
“Foreign ambassadors and other distinguished guests have also been invited to the event,” the state media reported. 
Pakistan honors foreign dignitaries and national heroes on the occasion with top civilian awards. The parade also features mechanized columns including tanks, armored personnel carriers, rocket launchers, air defense system, guns, UAVs, short-and-long-range Pakistani missiles such as Ra’ad, Nasr, Babur, Shaheen, Ghauri and Ababeel every year. 
This year the military parade takes place as Pakistan grapples with surging militancy, especially in its southwestern Balochistan province bordering Iran and Afghanistan. Separatist militants last Tuesday bombed a section of the railway track and stormed the Peshawar-bound Jaffar Express train carrying over 400 passengers in the mountainous Bolan region. 
The crisis was resolved the following day when the armed forces carried out a successful operation to rescue the hostages, killing all 33 militants in the process. A final count showed 23 soldiers, three railway employees and five passengers had died in the attack.
Violence persisted in the region days later as a blast killed five, including three paramilitary soldiers, in the province’s Nushki district on Sunday. 
Both attacks were claimed by the Baloch Liberation Army (BLA), an ethnic separatist militant outfit in the province. The BLA is the largest and strongest of several ethnic Baloch insurgent groups which have been fighting for decades to win a larger share of the natural resources of mineral-rich Balochistan, which is also home to major China-led projects including a port and gold and copper mines.
 

Topics: Pakistan Day Parade Republic Day PAF

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Pakistan stocks hit new high in intraday trading on investor confidence, IMF review optimism 

Pakistan stocks hit new high in intraday trading on investor confidence, IMF review optimism 
Updated 20 min 43 sec ago
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Pakistan stocks hit new high in intraday trading on investor confidence, IMF review optimism 

Pakistan stocks hit new high in intraday trading on investor confidence, IMF review optimism 
  • Benchmark KSE-100 index climbed 1,215.46 points, or 1.03 percent, to reach 119,189.48 
  • Index eventually settled at 118,769.77, up by 795.75 or 0.67 percent, from the previous close 
Updated 20 min 43 sec ago
Hasaan Ali Khan

ISLAMABAD: The Pakistan Stock Exchange (PSX) crossed the 119,000-point threshold in intraday trading for the first time, largely driven by aggressive buying from local mutual funds and confidence over a positive review of an International Monetary Fund bailout program, a top brokerage house said.

The benchmark KSE-100 index climbed 1,215.46 points, or 1.03 percent, to reach 119,189.48 from the last close of 117,974.02 at 9:43am. The index settled at 118,769.77, up by 795.75 or 0.67 percent, from the previous close. 

“This strong upward movement was largely driven by aggressive buying from local mutual funds, as investor confidence remained high on expectations of an imminent IMF review, which might be completed earlier than expected,” Topline Securities said in its daily market review.

Market activity remained robust, with 666 million shares traded, amounting to a turnover of Rs38.5 billion. Cnergyico Pk Ltd. oil refining company led the volume charts, with 163.9 million shares changing hands.

“The positive trajectory in the Pakistan Stock Exchange signifies the increasing trust of traders and investors in the government’s economic policies,” Prime Minister Shehbaz Sharif said in statement.

“The government is providing all necessary facilities on a priority basis to ensure a conducive environment for business and investment in the country.”

Earlier this month, an International Monetary Fund (IMF) team concluded its first review of Pakistan’s economic reforms under a $7 billion loan program, describing Pakistan’s progress as “strong,” though the mission departed without finalizing a staff-level agreement.

Topics: Pakistan Stock Exchange

BankIslami unveils ‘Aik,’ Pakistan’s first fully digital Islamic banking solution 

BankIslami unveils ‘Aik,’ Pakistan’s first fully digital Islamic banking solution 
Updated 20 March 2025
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BankIslami unveils ‘Aik,’ Pakistan’s first fully digital Islamic banking solution 

BankIslami unveils ‘Aik,’ Pakistan’s first fully digital Islamic banking solution 
  • ‘Aik’ is designed to seamlessly integrate essential banking features, offers Qibla direction tool
  • The bank says it is spearheading digital transformation of Islamic finance for tech-savvy clientele
Updated 20 March 2025
Ismail Dilawar

KARACHI: An Islamic commercial bank in Pakistan announced on Wednesday it had launched the country’s first digital Islamic banking solution designed to deliver seamless Shariah-compliant financial services nationwide.
BankIslami Pakistan Limited was incorporated in Pakistan in 2004 and commenced operations in April 2006 as the first Islamic bank in the country to receive a license from the State Bank of Pakistan (SBP) under the 2003 Islamic Banking Policy.
It announced the launch of “Aik” in a statement, saying it would help lead the way in the digital transformation of Islamic finance in Pakistan.
“Aik translates to ‘one’ — a symbol of simplicity, unity and our shared vision for an ethical, Riba-free financial future,” Ashfaque Ahmad, the project lead, was quoted as saying in the statement.
“This platform fulfills a critical need in Pakistan’s banking landscape for a fully digital solution that aligns with Islamic principles without compromising convenience and accessibility,” he added.
The statement said the platform integrates essential banking features, including digital account opening with biometric authentication, instant money transfers, secure bill payments, mobile top-ups and an internationally accessible debit card, with other functionalities such as a Qibla direction tool.
Available for download on Google Play and the Apple App Store, Aik allows users to register using their CNIC and instantly access a secure, fully digital Islamic banking experience.
As one of Pakistan’s leading Islamic financial institutions, BankIslami currently operates over 540 branches and offers a comprehensive suite of Shariah-compliant products.
With the launch of Aik, the bank said it was spearheading the digital transformation of Islamic finance for a tech-savvy clientele in the country.

Pakistan to investigate alleged visit of journalists to Israel, says ‘no question’ of recognizing Tel Aviv

Pakistan to investigate alleged visit of journalists to Israel, says ‘no question’ of recognizing Tel Aviv
Updated 30 min 11 sec ago
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Pakistan to investigate alleged visit of journalists to Israel, says ‘no question’ of recognizing Tel Aviv

Pakistan to investigate alleged visit of journalists to Israel, says ‘no question’ of recognizing Tel Aviv
  • Israeli newspaper reported this week 10-member Pakistani delegation visited Israel for a week
  • Foreign office says has no knowledge of delegation members and what passports they were traveling on
Updated 30 min 11 sec ago
SAIMA SHABBIR

ISLAMABAD: The Pakistani Foreign Office said on Thursday there was no change in the country’s position that it did not recognize Israel, adding that officials were gathering information on an alleged visit to the Middle Eastern country by a local delegation of journalists and influencers. 

A media report by the Israeli newspaper Israel Hayom said on Wednesday a 10-member Pakistani delegation of journalists, intellectuals and influencers had visited Israel for a week.

Pakistan does not recognize the state of Israel, and its passport explicitly states that it cannot be used for travel to the country. Islamabad has repeatedly called for an independent Palestinian state based on “internationally agreed parameters” and pre-1967 borders with Al-Quds Al-Sharif as its capital. 

“As far as Pakistan’s position is concerned, it’s very unambiguous,” Pakistan foreign office spokesperson Shafqat Ali Khan told reporters at a weekly media briefing in Islamabad.

“There is no question of a change in Pakistan’s position on the question of recognition of Israel or on the question of Palestine or Israel or on the question of Palestine or the Arab-Israel problems.”

Responding to a question on the reported visit of the Pakistani delegation, the spokesperson said the trip had nothing to do with the foreign ministry or government.

“We are gathering information and when we have a clearer picture, we will be able to comment on that,” he added. 

“We don’t know who was there [Israel] and what kind of passport they were carrying, maybe they were dual nationalities.”

The Hayon newspaper report said the ten Pakistani journalists and researchers, including two women, arrived in Israel last Monday and carried passports declaring their invalidity for travel to Israel. 

“Despite this, they bravely accepted an invitation from Sharaka, an organization working to strengthen relations between Israel and South Asian countries,” the report said. 

“To protect the delegation members, their passports were not stamped, and publication of their visit was delayed until they returned safely home.”

RESUMPTION OF GAZA WAR

Commenting on Israel resuming its bombing campaign and ground operations in Gaza, the FO spokesman said Pakistan “unequivocally condemned” the assault in the occupied West Bank and Gaza, calling it a “blatant violation of the ceasefire agreement [signed in January].”

Tuesday’s first day of resumed airstrikes killed more than 400 Palestinians, one of the deadliest days of the war. At least 510 Palestinians have been killed in the past three days, more than half of them women and children, Khalil Al-Deqran, the spokesperson of Gaza’s health ministry told Reuters.

The surprise bombardment has threatened to fully reignite the 17-month-old war, with Israeli officials saying the operation was expected to expand.

“Israel’s airstrikes and raids are a flagrant violation of the ceasefire agreement; international humanitarian law; the UN Charter, and hampers the confidence and faith in the global community and international law,” Khan added.

“We also call on the international community to increase its efforts to end Israel’s genocidal campaign against the innocent people of Palestine. We call for accountability of Israeli crimes committed in this brutal war, as a crucial step toward restoring international legitimacy.”

Topics: Gaza Israel

FO rejects Indian minister’s claim Pakistan ‘occupied’ Kashmir after 1948 ‘invasion’

FO rejects Indian minister’s claim Pakistan ‘occupied’ Kashmir after 1948 ‘invasion’
Updated 20 March 2025
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FO rejects Indian minister’s claim Pakistan ‘occupied’ Kashmir after 1948 ‘invasion’

FO rejects Indian minister’s claim Pakistan ‘occupied’ Kashmir after 1948 ‘invasion’
  • Pakistan says Jammu and Kashmir an “internationally recognized disputed territory” whose final status is to be determined by its people
  • Urges Kabul government to take “visible and verifiable” action against militants harboring in Afghanistan and launching regular cross-border attacks
Updated 20 March 2025
Arab News Pakistan

ISLAMABAD: The foreign office on Thursday rejected Indian External Affairs Minister Subrahmanyam Jaishankar’s remarks that Pakistan was “occupying” a part of Kashmir after “invading” it in 1948, saying the region was an “internationally recognized disputed territory.”

The Muslim-majority Himalayan region of Kashmir has remained a flashpoint between Pakistan and India since their independence from British rule in 1947. Both countries administer parts of the region but claim it in full, having fought three wars over the territory. The part governed by Pakistan is called Azad Kashmir while the Indian part is called Jammu and Kashmir.

Addressing an event in New Delhi this week, Jaishankar called the “occupation” of some parts of Kashmir by Pakistan “the longest standing illegal occupation” of territory by another country after the Second World War. He said Indian had taken the “invasion” to the UN, which had declared it a “dispute,” putting the “attacker and the victim ... on par.”

During a weekly press briefing on Thursday, Foreign Office Spokesperson Ambassador Shafqat Ali Khan said Pakistan was “alarmed” by the increasing frequency of such statements about Kashmir by Indian leaders.

“It was India that took the Jammu and Kashmir issue to the United Nations in 1948,” he told journalists. “Today, it has no right to blame the Security Council and its erstwhile members for the resolutions that were subsequently adopted.

“Repetition of baseless claims cannot deny the fact that Jammu and Kashmir is an internationally recognized disputed territory whose final status is to be determined by its people through a UN-supervised plebiscite, as stipulated in the relevant UN Security Council resolutions,” Khan added.

The spokesperson said Pakistan believed in peaceful co-existence and lasting peace in South Asia would require the resolution of the Kashmir dispute in line with UN resolutions and the aspirations of the Kashmiri people.

He accused India of blocking peace efforts through its “rigid approach and hegemonic ambitions.”

“The anti-Pakistan narrative emanating from India vitiates the bilateral environment and impedes the prospects for peace and cooperation,” the FO spokesman added. “It must stop.”

AFGHANISTAN

During the briefing, Khan also urged the Kabul government to take “visible and verifiable” action against the Pakistani Taliban, Baloch separatist militants and Daesh insurgents that Islamabad says are harboring in neighboring Afghanistan and launching cross-border attacks from there.

His remarks come after a surge in militant attacks in the northwestern Khyber Pakhtunkhwa (KP) and southwestern Balochistan provinces in recent months. 

Last week, an unprecedented train hijacking by the Balochistan Liberation Army (BLA) in Pakistan’s southwest killed 31 people, including troops. This was followed by a suicide attack in Nushki that killed five on Sunday. Pakistan said the attacks were carried out by militants who were in touch with “handlers” in Afghanistan.

The Tehreek-e-Taliban Pakistan (TTP) and other militant groups have also intensified their attacks in KP province, frequently targeting security force convoys and check posts, as well as carrying out targeted killings and kidnappings of security and government officials.

“Indeed, the terrorist threat against Pakistan from terrorist entities including TTP, BLA, and Daesh is our foremost concern,” Khan said in reply to a question during his weekly press briefing.

“We continue to impress upon interim [Afghan] authorities to take visible and verifiable action against them.”

Pakistani government and military officials have variously accused neighboring India and Afghanistan of fueling militancy in Khyber Pakhtunkhwa and Balochistan, claims both New Delhi and Kabul deny.
 

Topics: Pakistan Indian foreign minister Afghanistan Tehreek e Taliban Pakistan

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