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Business Recorder
17 hours ago
- Business
- Business Recorder
COAS, Trump discuss trade, crypto
ISLAMABAD: Chief of Army Staff of Pakistan, Field Marshal Syed Asim Munir, met with former US President Donald J. Trump at the White House in a high-level engagement that began with a luncheon in the Cabinet Room and continued with a visit to the Oval Office. According to Inter-Services Public Relations (ISPR), President Trump was accompanied by Secretary of State Senator Marco Rubio, and Steve Witkoff, the US Special Representative for Middle Eastern Affairs. Field Marshal Asim Munir was joined in by Pakistan's National Security Advisor. During the meeting, the Chief of Army Staff conveyed the deep appreciation of the Government and people of Pakistan for President Trump's constructive and result-oriented role in facilitating a ceasefire between Pakistan and India in the recent regional crisis. Trump praises Field Marshal over ceasefire with India The COAS acknowledged President Trump's statesmanship and his ability to comprehend and address the multifaceted challenges faced by the global community. President Trump, in turn, lauded Pakistan's ongoing efforts for regional peace and stability and appreciated the robust counter-terrorism cooperation between the two states. Both sides reaffirmed their commitment to continued collaboration in the field of counter-terrorism. Discussions also encompassed avenues for expanding bilateral cooperation in multiple domains including trade, economic development, mines and minerals, artificial intelligence, energy, cryptocurrency, and emerging technologies. President Trump expressed keen interest in forging a mutually beneficial trade partnership with Pakistan based on long-term strategic convergence and shared interests. A detailed exchange of views also took place on the prevailing tensions between Iran and Israel, with both leaders emphasizing the importance of resolution of the conflict. President Trump commended Field Marshal Asim Munir's leadership and decisiveness during a period of complex regional dynamics. In a gesture reflecting the warmth of bilateral ties, Field Marshal Syed Asim Munir extended an invitation to President Trump, on behalf of the Government of Pakistan, to undertake an official visit to Pakistan at a mutually convenient date. Although initially scheduled for one hour, the meeting extended for over two hours, underscoring the depth and cordiality of the dialogue. Reuters adds: Army chief Field Marshal Asim Munir and US President Donald Trump discussed trade, economic development, and cryptocurrency during their meeting at the White House, the Pakistan army said. 'President Trump expressed keen interest in forging a mutually beneficial trade partnership with Pakistan based on long-term strategic convergence and shared interests,' the army said in a statement on Thursday. Munir and Trump also exchanged views on prevailing tensions between Israel and Iran, the statement added. Reuters adds: Separatist and jihadist militants on the Pakistan-Iran border could take advantage of any collapse of authority in Iran, fears that army chief pressed in a meeting this week with the US President Donald Trump. Anti-Iranian and anti-Pakistan outfits operate on both sides of the 560-mile (900km) long border. As Israel bombs Iran's nuclear program, its officials have repeatedly indicated that they are seeking to destabilize the Iranian government or see it toppled. As well as worrying about chaos spilling over from Iran, Pakistan is concerned about the precedent set by Israel of attacking the nuclear installations of another country. Nuclear-armed rivals Pakistan and India fought a four-day conflict in May. Following a Wednesday lunch at the White House with army chief, Field Marshal Asim Munir, Trump said: 'They're not happy about anything', referring to Pakistan's views on the Israel-Iran conflict. Pakistan's military said on Thursday that the two had discussed Iran, 'with both leaders emphasizing the importance of resolution of the conflict'. Pakistan has condemned Israel's attack on Iran as a violation of international law. 'This is for us a very serious issue what is happening in our brotherly country of Iran,' Shafqat Ali Khan, spokesman for Ministry of Foreign Affairs, said on Thursday. 'It imperils the entire regional security structures, it impacts us deeply.' Some of the militant groups on the border have welcomed the upheaval. Jaish al-Adl (JaA), an Iranian jihadist group formed from Baloch and Sunni Muslim minorities and which operates from Pakistan, said Israel's conflict with Iran was a great opportunity. 'Jaish al-Adl extends the hand of brotherhood and friendship to all the people of Iran and calls on all people, especially the people of Balochistan, as well as the armed forces, to join the ranks of the Resistance,' the group said in a statement on June 13. Conversely, Pakistan fears that separatist militants from its own Baloch minority, which are based in Iran, will also seek to step up attacks. 'There's a fear of ungoverned spaces, which would be fertile ground for terrorist groups,' said Maleeha Lodhi, a former ambassador to Washington. Pakistan has unstable borders with Taliban-run Afghanistan and arch-rival India. It does not want to add another volatile frontier on its long border with Iran. The Iran-Pakistan border region is populated with Baloch who have long complained about discrimination and launched separatist movements. On Pakistan's side, the region is a province called Balochistan and in Iran it is Sistan-Baluchistan. Until Israel's bombing of Iran, Tehran was closer to Pakistan's arch-rival India. Pakistan and Iran had even traded air strikes last year, accusing each other of harbouring Baloch militants. But the attack on Iran has upended alliances, as India has not condemned Israel's bombing campaign. China has also said that it is deeply concerned about the security situation in Balochistan, with the area being a focus of Beijing's multi-billion dollar infrastructure investment program in Pakistan, centred on the new Chinese-run port of Gwadar. Baloch militant groups in Pakistan have previously targeted Chinese personnel and projects. On Iranian side of the border, Tehran has at different times accused Pakistan, Gulf nations, Israel and the United States of backing the anti-Iran Baloch groups. Simbal Khan, an analyst based in Islamabad, said the different Baloch groups could morph into a 'greater Balochistan' movement which seeks to carve out a new nation from the Baloch areas of Pakistan and Iran. 'They're all going to fight together if this blows up,' said Khan. Copyright Business Recorder, 2025


The Star
2 days ago
- Politics
- The Star
Pakistan's army chief to meet Trump after conflict with India defused
FILE PHOTO: Chief of Army Staff of Pakistan Asim Munir holds a microphone during his visit at the Tilla Field Firing Ranges (TFFR) to witness the Exercise Hammer Strike, a high-intensity field training exercise conducted by the Pakistan Army's Mangla Strike Corps, in Mangla, Pakistan May 1, 2025. Inter-Services Public Relations (ISPR)/Handout via REUTERS/File photo WASHINGTON/ISLAMABAD (Reuters) -U.S. President Donald Trump is scheduled to have lunch with Pakistani armed forces chief Asim Munir at the White House on Wednesday, according to Trump's official schedule. The rare one-on-one meeting between a Pakistani military chief and a U.S. president could rile India after the worst fighting between the nuclear-armed rivals in South Asia for decades, which Trump took responsibility for helping defuse. Pakistan's foreign ministry and the military's media wing did not reply to requests for comment on the White House meeting and it was not immediately clear what would be discussed at the lunch, which was closed to the press. Trump said last month India and Pakistan agreed to a ceasefire after talks mediated by Washington, and that the hostilities ended after he urged the countries to focus on trade instead of war. However, Indian Prime Minister Narendra Modi told Trump late on Tuesday that the ceasefire was achieved through talks between the two militaries and not U.S. mediation, according to India's most senior diplomat. Pakistan has thanked Washington for its role in the mediation efforts last month. The military has ruled Pakistan for at least three decades since independence in 1947 and has wielded extraordinary influence even with a civilian government in office. (Reporting by Susan Heavey in Washington and Charlotte Greenfield in Islamabad; editing by Mark Heinrich)

Straits Times
2 days ago
- Politics
- Straits Times
Pakistan's army chief to meet Trump after conflict with India defused
FILE PHOTO: Chief of Army Staff of Pakistan Asim Munir holds a microphone during his visit at the Tilla Field Firing Ranges (TFFR) to witness the Exercise Hammer Strike, a high-intensity field training exercise conducted by the Pakistan Army's Mangla Strike Corps, in Mangla, Pakistan May 1, 2025. Inter-Services Public Relations (ISPR)/Handout via REUTERS/File photo WASHINGTON/ISLAMABAD - U.S. President Donald Trump is scheduled to have lunch with Pakistani armed forces chief Asim Munir at the White House on Wednesday, according to Trump's official schedule. The rare one-on-one meeting between a Pakistani military chief and a U.S. president could rile India after the worst fighting between the nuclear-armed rivals in South Asia for decades, which Trump took responsibility for helping defuse. Pakistan's foreign ministry and the military's media wing did not reply to requests for comment on the White House meeting and it was not immediately clear what would be discussed at the lunch, which was closed to the press. Trump said last month India and Pakistan agreed to a ceasefire after talks mediated by Washington, and that the hostilities ended after he urged the countries to focus on trade instead of war. However, Indian Prime Minister Narendra Modi told Trump late on Tuesday that the ceasefire was achieved through talks between the two militaries and not U.S. mediation, according to India's most senior diplomat. Pakistan has thanked Washington for its role in the mediation efforts last month. The military has ruled Pakistan for at least three decades since independence in 1947 and has wielded extraordinary influence even with a civilian government in office. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
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First Post
10-06-2025
- Business
- First Post
Can debt-ridden Pakistan afford to hike its defence budget?
Pakistan is expected to raise its defence budget for the 2025-26 fiscal year. The country's Planning Minister, Ahsan Iqbal, confirmed the move over the weekend, citing tensions with India as the reason. This comes as Islamabad's total public debt has reached a staggering PKR 76 trillion (around $269 billion), as per its economic survey 2024-25. However, the country's defence spending remains dwarfed by India's read more Chief of Army Staff of Pakistan Asim Munir holds a microphone during his visit at the Tilla Field Firing Ranges (TFFR) to witness the Exercise Hammer Strike, a high-intensity field training exercise conducted by the Pakistan Army's Mangla Strike Corps, in Mangla, Pakistan May 1, 2025. Inter-Services Public Relations (ISPR) via Reuters Pakistan is increasing its defence budget amid recent tensions with India. The country's Planning Minister, Ahsan Iqbal, said on the weekend that the government will hike its defence budget for the 2025-26 fiscal year. The move comes even as Pakistan remains debt-ridden and the country faces economic instability and high inflation. As Pakistan increases its defence budget, we take a look at how it compares with India's. Pakistan to raise defence budget Pakistan's Planning Minister Ahsan Iqbal confirmed on Saturday (June 7) that the government will increase the defence budget. 'It is our national duty to provide the armed forces with whatever they need in this budget to bolster their capacity and defend our country in the future. It has been proven that we have a dangerous neighbour (India) who attacked us in the night, but we gave them a befitting response,' he was quoted as saying by Pakistan's Dawn. STORY CONTINUES BELOW THIS AD Iqbal said the country must 'remain ready to respond if they attack again'. The likely step comes amid Pakistan's economic woes. The country's economic survey 2024-25 revealed that Islamabad paid $7.8 billion in external debt service payments in the previous financial year. A boy plays with a soccer ball next to a smouldering pile of rubbish, ahead of the World Environment Day, in Karachi, Pakistan, June 4, 2025. Reuters The country is spending more than 1.9 per cent of its gross domestic product (GDP) on debt service payments, according to the survey. Pakistan's total public debt has reached a staggering PKR 76 trillion (around $269 billion), almost double since 2020-21. Of this, Islamabad owes $87.4 billion to other countries and multilateral agencies. Pakistan has to pay China $15 billion – the largest amount among bilateral lenders. This is followed by Japan at $3 billion and France at over $1 billion. The Shehbaz Sharif government's decision to hike the military budget comes amid significant damage to Pakistani airbases and air defence systems in the strikes by India under Operation Sindoor in the wake of the Pahalgam terror attack. Pakistan's military budget Pakistan will unveil its annual budget for the coming fiscal year today (June 10), reported to be a PKR 17.6 trillion budget. According to Reuters, analysts predict a rise of about 20 per cent in the country's defence budget. Pakistan had increased its defence budget by 16.4 per cent last year. Pakistan allocated PKR 2.1 trillion for defence in the FY 2024-25, including $2 billion for equipment and other assets. The country's military expenditure stood at $10.2 billion for 2024-25, data by Stockholm International Peace Research Institute (SIPRI) revealed. STORY CONTINUES BELOW THIS AD To counter India's technologically advanced forces, Islamabad has focused its defence spending on maintaining nuclear capabilities and expanding its missile systems. Pakistan has an edge over India only in mobile rocket systems, 600 over New Delhi's 264, as per an Economic Times (ET) report. India, Pak comparison India has a bigger military than Pakistan and notably higher defence spending. For the 2025-26 fiscal year, India set aside $78.7 billion for defence spending, a 9.5 per cent rise from the previous year. India's military spending for 2024-25 was at $86.1 billion, as per SIPRI data. This makes the country the fifth-largest military spender in the world. The world's most populated country's defence budget has grown in the past decade. In 2013, India's military spending was at $41 billion. This nearly doubled to $80 billion by 2024, as per data from Macrotrends. India is seeking to enhance its defence capabilities by expanding the domestic production of weapon systems to reduce dependence on foreign suppliers. It has also enhanced its air power by making key purchases such as Rafale fighter jets. STORY CONTINUES BELOW THIS AD When it comes to manpower, India has 14.5 lakh active military personnel, as compared to its rival neighbour's 654,000. India boasts 730 combat-ready aircraft, while Pakistan has 452 military aircraft. India's military has 4,201 tanks and roughly 149,000 armoured vehicles, with Pakistan possessing only 2,627 tanks and 17,500 armoured units. India's naval power is also superior to Pakistan's. The Indian Navy operates 293 vessels, including two aircraft carriers, 18 submarines, and 13 destroyers. Pakistan, on the other hand, has 121 vessels but does not have aircraft carriers or destroyers. With inputs from agencies

Straits Times
21-05-2025
- Politics
- Straits Times
Beloved strongman: Support for Pakistan army chief surges after India conflict
FILE PHOTO: Members of the Pakistani Hindu community hold flags and placards showing the picture of Chief of Army Staff of Pakistan Asim Munir, as they chant slogans during a rally in support of the Pakistan Army, in Karachi, Pakistan May 10, 2025. REUTERS/Shakil Adil/File Photo FILE PHOTO: Chief of Army Staff of Pakistan Asim Munir holds a microphone during his visit at the Tilla Field Firing Ranges (TFFR) to witness the Exercise Hammer Strike, a high-intensity field training exercise conducted by the Pakistan Army's Mangla Strike Corps, in Mangla, Pakistan May 1, 2025. Inter-Services Public Relations (ISPR)/Handout via REUTERS/File Photo FILE PHOTO: People carry posters showing the pictures of Chief of Army Staff of Pakistan Asim Munir, (R) along with Ahmed Sharif Chaudhry, Director General of Inter-Service Public Relations wing of Pakistan Armed Forces, as they take part in a rally in support of Pakistan Army, a day after the ceasefire announcement between India and Pakistan, in Lahore, Pakistan, May 11, 2025. REUTERS/Mohsin Raza /File Photo ISLAMABAD - Pakistan's army chief General Asim Munir is the most powerful man in the country, but his popular support has surged after the worst conflict in decades with arch-rival India, shattering criticism of interference in politics and harshly cracking down on opponents. A grateful government has given him a rare promotion to Field Marshal "in recognition of the strategic brilliance and courageous leadership that ensured national security and decisively defeated the enemy". The military has ruled Pakistan for at least three decades since independence in 1947 and wielded extraordinary influence even with a civilian government in office. But it, and its hardline chief, have rarely received the widespread outpouring of affection seen this month that analysts say has reinforced the military's dominance in the nuclear-armed nation. "Long live General Asim Munir!" read placards held aloft in rallies in recent days in towns across Pakistan. His picture was put up on lamp posts and bridges, with some banners saying: "You are our saviour!" A survey conducted after the conflict by Gallup Pakistan, a local pollster, found that 93% of respondents felt their opinion of the military had improved. Munir's most bitter domestic foe, jailed former Prime Minister Imran Khan, also congratulated the military after this month's clashes with India, claimed by both nations as a victory. "It's my country, it's my army," Khan said in a post on X last week. "I pay tribute to the Pakistan Air Force and all our military personnel for their professionalism and outstanding performance." Yousuf Nazar, a political commentator, said of Munir: ."He has emerged as Pakistan's strongman with his military's reputation restored as a formidable force." Six months after he took charge in November 2022, Munir was faced with the most serious challenge to the military's hegemony when Khan's supporters attacked and ransacked military installations. Munir later faced sharp domestic criticism for the jailing of Khan and cracking down on supporters of his Pakistan Tehreek-e-Insaf party, as well as what critics alleged was rigging the general election last year to favour a rival party. But the conflict with India has turned that around, said Ayesha Siddiqa, author of Military Inc, a book on the Pakistan military. "It has made the general stronger than any other previous generals. He is a hero now," she said, adding that the contest between the neighbours will be headed by two hardliners, India's Hindu nationalist Prime Minister Narendra Modi and Pakistan's Munir, a devout Muslim. "It's an Islamist general versus a religious strongman," she said. The military did not respond to questions sent by Reuters. FUNDAMENTAL DIFFERENCE The spark for the latest fighting between the neighbours was an April 22 attack in Indian Kashmir that killed 26 people, most of them tourists. New Delhi blamed the incident on "terrorists" backed by Pakistan, a charge denied by Islamabad. On May 7, the Indian military carried out air strikes on what it called "terrorist infrastructure" in Pakistan, in response to the attack in Kashmir. Pakistan claimed to have downed at least 5-6 Indian fighter jets and carried out air strikes on Indian military bases. India has indicated that it suffered some losses and inflicted major damage on key Pakistani air bases and air defence systems. Munir, who has memorised the Muslim holy book, the Koran, has publicly underlined what he has said are fundamental differences between Islamic Pakistan and predominantly Hindu India. "Our religion is different. Our customs are different. Our traditions are different," he said in a speech in Islamabad a week before the attack in Indian Kashmir. The Indian army "with all their wherewithal" cannot "intimidate" Pakistan, he said, peppering his comments with verses from the Koran. "Pakistan needs to be a hard state." Pakistan's counter-strike against India was named by him as "Bunyan Marsoos", after a Koranic verse, which means Iron Wall, according to the military. It was launched on May 10 to coincide with dawn prayers, considered an auspicious time for Muslims. Munir, the son of a schoolteacher, is an infantry officer and a former head of both the powerful Inter-Services Intelligence and Military Intelligence. He remains army chief until November 2027 and could be appointed for another five-year term at that point. Husain Haqqani, a former Pakistani ambassador to the United States, said that even before the latest conflict, Munir was more hawkish on India than his predecessor as army chief, who had taken a more pragmatic and less ideological approach, seeking to improve relations. "Conflicts with India remind Pakistanis of the fragility of their country and they rally to their army as the entity that will save the country," said Haqqani. "The recent show of strength and standing up to India has helped General Munir solidify his position within the country." REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.