Pakistan’s national flag carrier posts first profit in 21 years amid privatization push

ISLAMABAD: Pakistan’s envoy to the United Arab Emirates (UAE) on Tuesday said the administration in Islamabad was following an agenda to ensure economic progress, as he hosted a reception to mark his country’s national day.
Pakistan annually commemorates its national day on March 23, marking the anniversary of the 1940 Lahore Resolution that called for a separate homeland for the Muslims of the Indian Subcontinent.
Ambassador Faisal Niaz Tirmizi highlighted the Pakistani government’s socio-economic initiatives during the event in Abu Dhabi, which was attended by diplomats and senior Emirati officials, including Sheikh Nahayan bin Mabarak Al Nahyan, the UAE’s Minister of Tolerance and Coexistence.
“[Ambassador Tirmizi] invited attention toward a range of opportunities in Pakistan that remained pivotal in promoting socio-economic development in [his] country,” said an official statement issued by the Pakistan Embassy in Abu Dhabi following the event.
“These included a healthy youth bulge; growing women participation in public life; the potential of agriculture; rich socio-cultural heritage; tourism potential; and the fastest-growing IT sector,” the statement added. “He underscored that the government was pursuing a progressive agenda aimed at making tangible progress toward achieving economic growth and Sustainable Development Goals.”
In his address, the Pakistani envoy also called for an immediate end to hostilities in Gaza and reiterated Islamabad’s support for the peaceful resolution of the Palestine and Kashmir disputes in accordance with United Nations Security Council resolutions.
The ambassador acknowledged the UAE’s impressive economic transformation over the past five decades and paid tribute to the leadership of the late Sheikh Zayed bin Sultan Al Nahyan, whose vision, he said, was being proudly carried forward by President Sheikh Mohammed bin Zayed Al Nahyan.
Tirmizi also praised the growing political and economic partnership between Pakistan and the UAE while highlighting regular high-level exchanges and institutional cooperation between them along with the presence of a 1.7 million-strong Pakistani diaspora in the Gulf state.

ISLAMABAD: A South Africa-based Pakistani entrepreneur is investing in a coal-to-gasification plant at the Thar coalfields in southern Sindh province to generate cleaner energy and reduce Pakistan’s reliance on imported fuels, state media reported on Tuesday.
The announcement follows Pakistan’s high-profile mining summit in Islamabad, which brought together investors, policymakers and industry leaders from around the world to explore the country’s vast untapped mineral wealth.
Businesswoman Tabassum Pardesi’s investment signals a renewed effort to harness Pakistan’s Thar coal reserves through gasification technology, which converts coal into synthetic gas for industrial use. The initiative can reduce energy costs, alleviate the country’s growing fuel import bill and provide a domestic alternative to costly liquefied natural gas.
“Tabassum ... is now spearheading a landmark investment initiative to establish a coal-to-gasification plant at the Thar coalfields,” the Associated Press of Pakistan (APP) said in its report.
“The venture, in collaboration with leading South African mining conglomerates, aims to generate cleaner energy, reduce Pakistan’s reliance on imported fuels, and unlock long-term economic opportunities for the region.”
It highlighted that Pardesi, who is known for co-founding the South African Skywise Airlines, has submitted a proposal for the project to the Pakistani authorities and also initiated a “strategic lobbying” campaign during the minerals summit.
The report said her goal was to secure high-level public-private partnerships, streamline regulatory pathways and ensure alignment with Pakistan’s national energy and climate resilience goals.
Pakistan aims for a low-carbon future, targeting 60 percent renewable energy and 30 percent electric vehicle sales by 2030. It plans a 15 percent emissions reduction, increasing to 35 percent with international support.
“Pakistan has the potential to become a global mining powerhouse,” APP quoted Pardesi as saying. “With its abundant natural resources and a youthful workforce, all we need is visionary execution and international collaboration — and I’m here to help make that happen.”
The Thar desert is home to the world’s largest lignite coal reserves, estimated at 175 billion tons, equivalent to 50 billion tons of oil and 2,000 trillion cubic feet of gas. Pakistan’s mineral sector contributes only 3.2 percent to GDP and 0.1 percent to global mineral exports despite rich mineral resources including salt, copper, gold and coal.