Pakistan’s finance chief discusses trade, investment with Saudi counterpart in Washington

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb this week met British envoy Hamish Faulkner in Portugal where the two sides discussed bilateral investment opportunities in energy, minerals and infrastructure, the finance ministry said. 

The meeting between Aurangzeb and Faulkner, the British Under-Secretary for Middle East, Afghanistan and Pakistan, took place as cash-strapped Pakistan seeks investments from regional and other foreign allies to shore up its $350 billion economy.

The Pakistani government launched a hybrid civil-military government body, the Special Investment Facilitation Council (SIFC) in June 2023 to attract foreign investment from allies and other nations. The SIFC seeks to target investment in key economic sectors such as energy, mines and minerals, infrastructure, agriculture and livestock, among others. 

Aurangzeb is in Portugal where he attended the funeral ceremony of the late Prince Karim Aga Khan IV, the spiritual leader of the Ismaili community, on Saturday. 

“During the meeting, matters of mutual interest were discussed especially investment opportunities in the energy, minerals and infrastructure sectors in Pakistan,” the Ministry of Finance said. 

The Finance Minister expressed his desire to make relations between the two countries more sustainable, saying that warm ties between Pakistan and the UK were based on mutual trust and partnership. 

Earlier this month, a delegation of American investors led by Gentry Beach, a Texas hedge fund manager and businessman close to US President Donald Trump, arrived in Pakistan. 

Beach met Pakistani officials and spoke to media during his two-day visit to the country. He expressed his desire to invest in the country’s energy, minerals, real estate and infrastructure sectors. 

Pakistan and the UK have a long and multifaceted relationship, with the latter hosting a large Pakistani diaspora community. 

Pakistan is also a member of the Commonwealth, a voluntary association of 56 countries out of which the vast majority are former British territories.

LAHORE: Glenn Phillips warmed up for the Champions Trophy with his first one-day international century as New Zealand beat Pakistan by 78 runs in the opening game of the tri-nation cricket series on Saturday.
Phillips smashed an unbeaten 106 off 74 balls, including six boundaries and seven sixes, at a newly renovated Gaddafi Stadium. The No. 6 batter propelled New Zealand to 330-6 in its 50 overs on a flat wicket with Daryl Mitchell (81) and Kane Williamson (58) also getting the feel of the wickets for the upcoming Champions Trophy with half centuries.
In reply, Fakhar Zaman, playing his first international in more than seven months because of illness, made a belligerent 84 off 69 but the rest of the top-order batters struggled against spin.
Pakistan was bowled out for 252 in 47.5 overs.
Phillips capped a perfect day by trapping Zaman leg before wicket with his off-spin and also took a brilliant diving catch to dismiss Babar Azam early in Pakistan’s run chase.

Babar struggled in his new role as opener in ODIs for the first time since 2015 and scored a painstaking 10 runs off 23 balls.
New Zealand captain Mitchell Santner (3-41) clipped the top-order with his left-arm spin while Bracewell took 2-41.
New Zealand, which is already sweating on the fitness of fast bowler Lockie Ferguson, had another injury scare when the ball hit Rachin Ravindra in the face as he misjudged a catch of Khushdil Shah in the outfield and had to leave the field.
Fast bowler Matt Henry chipped in with 3-55.

No. 10 batter Abrar Ahmed hit an unbeaten 25 that included three successive boundaries off Henry.
Phillips unleashed his power-hitting against Pakistan’s two premier fast bowlers – Shaheen Shah Afridi and Naseem Shah — in the last five overs that cost the home team 84 runs.
Pakistan, which lost the toss, had kept New Zealand in check at 246-5 before Phillips cut loose against the two pacers.
Williamson, playing his first ODI since November 2023, took his time to settle down. He reached the slowest ODI half century of his career in 82 balls before he edged Afridi after sharing a 95-run stand with Mitchell.
Mitchell survived a close run-out at the non-striker’s end before he had scored when Babar couldn’t hit the stumps from close range, but settled in well to score nearly a run-a-ball before chipping a catch to mid-wicket against a low full toss from Ahmed (2-41).

Pakistan suffered a major blow in the latter half of the innings when Haris Rauf (1-23) had to leave the field due to side strain after he fell in his follow-through during his seventh over. He took no further part in the match.
Phillips switched gears when he smashed three sixes against Agha, who filled in for Rauf, and then hit an audacious reverse scoop against Afridi which went for a flat six over third man.
Phillips reached his hundred in an expensive 25-run last over of Afridi, who ended up with 3-88 in 10 overs. Michael Bracewell hit 31 in 23 balls.

Gaddafi Stadium is one of the three venues to be upgraded for the Champions Trophy.
Karachi and Rawalpindi will also host Champions Trophy matches in Pakistan.
Lahore hosts the second game of the tri-nation series between South Africa and New Zealand on Monday. Karachi then hosts the remaining two games, including the final on Feb. 14.