COAS' meeting with US president a 'success'

Defense Minister Khawaja Asif on Thursday hailed the meeting between Army Chief Field Marshal Syed Asim Munir and US President in White House the other day, as a significant diplomatic success of Pakistan.
Talking to reporters outside the Parliament House, the minister highlighted that this was the first time an army chief had been invited for lunch with the US president, underscoring the importance of the meeting.
Khawaja Asif emphasised that the discussions on international and regional issues showcased Pakistan's potential in resolving key problems, particularly in the context of Pak-India tensions.

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Business Recorder

4 hours ago

• Business Recorder

Field Marshal underscores potential for broader US-Pakistan ties

Chief of Army Staff (COAS), Field Marshal Syed Asim Munir has underscored the immense potential for a broader, multidimensional relationship with the US built upon mutual respect, shared strategic interests, and economic interdependence. During his official visit to the United States, the COAS held a comprehensive and candid exchange with senior scholars, analysts, policy experts, and representatives of leading international media outlets in Washington D.C, said the Inter-Services Public Relations (ISPR) in a press release today. 'The interaction with prominent U.S. think tanks and representatives of the strategic affairs institutions, provided an opportunity to articulate Pakistan's principled stance on key regional and global issues, and to deepen understanding of Pakistan's strategic outlook,' ISPR said. The discussion further included an evaluation of the long-standing Pakistan and the US partnership and the COAS underlined the historical convergences between the two nations, particularly 'in areas such as counter-terrorism, regional security, and economic development'. Moreover, the Field Marshal alluded to the details and analysis of the Maarka e Haq, Operation Bunyanum Marsoos and elaborated on Pakistan's perspective on terrorism, noting the malign influence of certain regional actors in sponsoring and perpetuating terrorism as a tool of hybrid warfare. COAS, Trump discuss trade, crypto The COAS also emphasized that Pakistan has been on the front lines of the global war against terrorism, having rendered immense sacrifices both human and economic in pursuit of a safer and more secure world. He shed light on Pakistan's remarkable untapped potential, particularly in the domains of information technology, agriculture, and its vast and underexploited reserves in the mining and mineral sectors. The army chief invited international partners to explore collaborative opportunities in these sectors to unlock shared prosperity. On Thursday, US President Donald Trump in a meeting with the COAS lauded Pakistan's ongoing efforts for regional peace and stability, and appreciated the robust counter-terrorism cooperation between the two states. During the meeting, the army chief conveyed the deep appreciation of Pakistan for President Trump's constructive and result-oriented role in facilitating a ceasefire between Pakistan and India in the recent regional crisis. 'The COAS acknowledged President Trump's statesmanship and his ability to comprehend and address the multifaceted challenges faced by the global community,' said the statement. The two sides also discussed avenues for expanding bilateral cooperation in multiple domains including trade, economic development, mines and minerals, artificial intelligence, energy, cryptocurrency, and emerging technologies.

Business Recorder

12 hours ago

• Business Recorder

THE RUPEE PKR: marginal decline

KARACHI: The Pakistani rupee posted marginal decline against the US dollar, depreciating 0.03% during trading in the interbank market on Thursday. At close, the local currency settled at 283.64, a loss of Re0.09 against the greenback. On Wednesday, the local unit closed at 283.55. Internationally, the US dollar firmed on Thursday, buoyed by safe-haven demand due to the looming threat of a broader conflict in the Middle East and possible US involvement, while investors weighed Federal Reserve Chair Jerome Powell's cautionary tone on inflation. After a muted start in Asia hours, the US dollar advanced across the board, weighing heavily on risk sensitive currencies after a report said US officials are preparing for the possibility of a strike on Iran in the coming days. The Australian dollar fell as much as 0.5% but was last down 0.3% at $0.6489, while the New Zealand dollar slipped 0.5% to $0.5998. Emerging market currencies also struggled, with the South Korean won 1% weaker. Rapidly rising geopolitical tensions have led to the dollar swiftly reclaiming its safe-haven status, making inroads against the yen, euro and the Swiss franc. Iran and Israel traded further air attacks on Thursday, with the conflict entering its seventh day. Concerns over potential U.S. involvement have also grown, as President Donald Trump kept the world guessing about whether the United States will join Israel's bombardment of Iranian nuclear sites. The conflict has heightened fears of broader regional instability, compounded by the spillover effects of the Gaza war. Oil prices, a key indicator of currency parity, rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and US. President Donald Trump's stance on the conflict kept investors on edge. Brent crude futures rose $1.60, or 2.1%, to $78.29 a barrel by 1030 ET. U.S. West Texas Intermediate crude for Julywas up $1.64, or 2.1%, at $78.34. Brent had surged to its highest in nearly five months at $78.50 on June 13, when Israel began its attacks. Open-market movement In the open market, the PKR lost 27 paise for buying and 11 paise for selling against USD, closing at 284.13 and 285.69, respectively. Against Euro, the PKR gained 64 paise for buying and 88 paise for selling, closing at 324.57 and 327.45, respectively. Against UAE Dirham, the PKR lost 15 paise for buying and 10 paise for selling, closing at 77.28 and 78.02, respectively. Against Saudi Riyal, the PKR lost 15 paise for buying and 9 paise for selling, closing at 75.55 and 76.25, respectively. ======================== Open Bid Rs 284.13 Open Offer Rs 285.69 ======================== Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday ======================== Open Bid Rs 283.64 Open Offer Rs 283.84 ======================== RUPEE IN LAHORE: The Pak rupee stayed stable against the US while gaining impressively against the British pound. According to local market sources, the Pak rupee closed at Rs 285.25 and Rs 285.70 against the US dollar compared to the previous closing of Rs 284.50 and Rs 285.50, respectively. However, regarding the British pound, the Pak rupee witnessed a closing at Rs 379.75 and Rs 383.10 against the previous closing of Rs 382.50 and Rs 387.60 respectively. Copyright Business Recorder, 2025

Express Tribune

12 hours ago

• Express Tribune

COAS' meeting with US president a 'success'

Defense Minister Khawaja Asif on Thursday hailed the meeting between Army Chief Field Marshal Syed Asim Munir and US President in White House the other day, as a significant diplomatic success of Pakistan. Talking to reporters outside the Parliament House, the minister highlighted that this was the first time an army chief had been invited for lunch with the US president, underscoring the importance of the meeting. Khawaja Asif emphasised that the discussions on international and regional issues showcased Pakistan's potential in resolving key problems, particularly in the context of Pak-India tensions.