Pak FM Bilawal Bhutto reaches US to reset dented Pak-US ties

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By Hamza Ameer
Islamabad, May 18 |
Pakistan Foreign Minister Bilawal Bhutto Zardari is in New York to hold a series of meetings with different officials of the Joe Biden administration to reset the dented ties between Pakistan and the United States.

Zardari’s visit to the US has already started to show positive vibes as US State Department spokesperson has said that Secretary of State Antony Blinken has assured Pakistan of strong US support for the efforts to rebuild Pakistan’s economy.

“The United States will continue to work bilaterally on ways to grow investment and trade opportunities to build a prosperous and stable Pakistan,” said the US State Department spokesperson.

“The US also welcomes the ongoing International Monetary Fund (IMF) deliberations with Pakistan,” the spokesperson added.

Betterment in Pak-US ties will definitely have a major impact on the IMF Extended Fund Facility (EFF), which Pakistan is desperately working to revive.

Zardari will have a one-on-one meeting with Blinken, which is likely to work as a major step towards a confidence building measure for Pak-US relations.

“We confirm that Secretary Blinken and Foreign Minister Zardari will meet one-on-one and cover a number of bilateral concerns in a follow-up to their May 6 telephonic conversation,” the spokesperson said.

It is pertinent to mention that US’ support for Pakistan comes at a time when former premier Imran Khan is staging massive public gatherings, claiming that he was ousted from power through a US-led ‘conspiracy’ for a regime change, implemented through his opposition political parties, which brought in the no-confidence motion against him in the Pakistani Parliament.

It is also believed that US’ public support to Pakistan will certainly boost Islamabad’s efforts to revive the IMF programme and could also show positive signs in the bullish market trends in the country as well.

Zardari is in New York on the invitation of Blinken to attend the UN ministerial meeting on ‘Global Food Security Call for Action’ and the Security Council’s open debate on maintenance of international peace, with a focus on conflict and food security.

“I will share Pakistan’s perspective on various issues with the international community in my UN engagements,” said Zardari.

“Zardari’s meeting with Blinken provides a useful opportunity for strengthening bilateral engagements with the US. Promoting national interest would be the foremost priority; trust and confidence with partners would be rebuilt; old friendships would be consolidated and new ones would be forged.

“Stability and continuity in policies would be provided while retaining the flexibility to adapt as required; focus would be on immediate neighbourhood as well as on balanced, objective, broad-based, and mutually beneficial relations with major powers,” said Hina Rabbani Khar, Minister of State for Foreign Affairs.

Source: IANS

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Weekly Fundamental Market Outlook

Weekly Fundamental Market Outlook

Indian share market posted its first weekly gain in Jun by rising 2.7%.

This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

 

Post Disclaimer by BhaskarLive.in

The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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