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Zalmay Khalilzad asks Islamabad to have fresh accord with Kabul

KARACHI: A day after the military’s chief spokesperson assailed the Afghan Taliban for not honouring their pledges in the Doha Agreement, one of the architects of that accord suggested that Pakistan should consider entering into a similar deal with Kabul. Zalmay Khalilzad, who served as special representative to Afghanistan during the first Trump administration, tweeted on Wednesday that it was “a misunderstanding… to think that the agreement covered Afghanistan-Pakistan issues”. In a post on his X account, he also attached the text of the agreement, which — among other things — contained a commitment to prevent the soil of Afghanistan being used by any group or individual against the security of the United States and its allies. However, he posited that “a similar agreement between Afghanistan and Pakistan… would serve the interests of both countries”. Expanding on the idea, Mr Khalilzad said that the accord should be one “in which both countries commit to not allow any indi...
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Pakistan, Saudi in talks on JF-17 jets-for-loans deal: Reuters report

Pakistan and Saudi Arabia are in talks to convert about $2 billion of Saudi loans into a JF-17 fighter jet deal, two Pakistani sources said, deepening military cooperation months after the two nations signed a mutual defence pact last year. The talks underscore how the two allies are moving to operationalise defence cooperation at a time of acute financial strain and as Saudi Arabia is reshaping its security partnerships to hedge against uncertainty about US commitments in the Middle East. The mutual defence deal was signed following Israel’s strikes on what it said were Hamas targets in Doha, an attack that shook the Gulf region. One of the sources said the discussions were limited to the provision of JF-17 Thunder fighter jets, the light combat aircraft jointly developed by Pakistan and China and produced in Pakistan, while the second said the jets were the primary option among others under discussion. The first source said the total deal was worth $4bn, with an additional $2bn...
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‘He’s not that happy with me’: Trump mocks India’s Modi while recalling meeting

US President Donald Trump on Wednesday jibed at Indian Prime Minister Narendra Modi while recounting a meeting between the two, where the Indian PM had asked to meet the US president. While addressing the House GOP (Grand Old Party) Members’ Retreat, Trump recounted a meeting with Modi, stating that Modi had ordered 68 Apache attack helicopters from the US and had waited five years. “Prime Minister Modi came to see me. [He said] ‘Sir, may I see you, please?’ Yes,” Trump recalled. “I have a very good relationship with him. He’s not that happy with me because, you know, they’re paying a lot of tariffs now, because they’re not doing the oil,” he added, referring to India halting imports of Russian oil. Trump also noted that the US is “getting rich because of tariffs”. Meanwhile, India’s opposition Congress party took to X and uploaded a caricature of the scene, showing a timid Modi. In a separate post in Hindi, Congress claimed that Modi went to the US uninvited to meet Trump a...
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Trump says Venezuela ‘turning over’ up to 50m barrels of oil to US

US President Donald Trump said on Tuesday that Venezuela’s interim government will deliver up to 50 million barrels of oil to the United States, and that the proceeds “will be controlled by me” as president. The development is a strong sign that the Venezuelan government is responding to Trump’s demand that they open up to US oil companies or risk more military intervention. Trump has said he wants interim President Delcy Rodriguez to give the US and private companies “total access” to Venezuela’s oil industry. Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that it has been unable to ship due to a blockade on exports imposed by Trump since mid-December. The blockade was part of rising US pressure on the government of Venezuelan President Nicolas Maduro that culminated in US forces launching a “large-scale strike” in the country and kidnapping him this weekend. Top Venezuelan officials have accused the US of trying to steal the country’s vast oil r...
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Bangladesh pacer Mustafizur Rahman registers for PSL following IPL snub

Bangladesh fast bowler Mustafizur Rahman has registered for the Pakistan Super League (PSL) draft following his release from the Kolkata Knight Riders (KKR) squad for the Indian Premier League (IPL). The 30-year-old left-arm pacer, known for his variations and death-over bowling, was acquired by Kolkata for INR 9.20 crore in the IPL mini-auction held in December. He was the only Bangladesh player signed for the season. On Saturday, Kolkata announced his release after receiving instructions from the Board of Control for Cricket in India (BCCI). BCCI secretary Devajit Saikia cited “recent developments” as the reason, without providing further details. The decision comes amid strained relations between India and Bangladesh, linked to reports of attacks on minority communities in Bangladesh. In response, Bangladesh has banned IPL broadcasts in the country and the Bangladesh Cricket Board has requested the ICC to shift its T20 World Cup matches from India to Sri Lanka. Mustafizur, ...
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Using stablecoins to upgrade remittances

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Pakistan is the world’s 5th largest remittance destination. The question is how much further it can climb. Remittance flows are Pakistan’s most reliable source of hard dollars. Last year alone, we received more than $38 billion , the highest in our history. In many years, these flows have been steadier than exports, foreign direct investment, or debt inflows combined. As imports continue to gnaw at dollar reserves, these inflows are even more critical. So how do we increase remittance flows? By acting on a simple fact: people send more when it is easier and cheaper. Remittances could be converted into dollar stablecoins, bridged into the Pakistani CBDC’s network, exchanged at market rates, and redeemed into rupees via Raast One promising way is to use crypto-based settlement technology as the rails or plumbing. It’s like upgrading from dial-up internet to broadband: transfers become near-instant, run 24/7, and fees can fall below one per cent. More of each dollar arrives home...
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The flaws of coercive sustainability

The new federal agricultural financing scheme, Zarkhez-e , is being touted by the authorities as a major government-backed intervention aimed at expanding collateral-free credit to small, subsistence farmers. However, many bankers insist that it risks becoming a repeat of the yellow cab scheme from the 1990s as it imposes “directed lending” on commercial banks in a weak legal and recovery environment. “It is a model that has repeatedly failed in Pakistan and sits uneasily with market principles the country has committed to adhere to under the IMF [International Monetary Fund] programme,” argued the head of retail banking at a mid-sized bank who requested anonymity. Zarkhez-e , also branded as Asaan Digital Zarai Qarza , aimed at expanding collateral-free agricultural lending for smallholders and tenants across the country, was launched by the State Bank (SBP) in October last year. Introduced under the National Subsistence Farmers Support Initiative, the project seeks to provide clean...
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