EU-Pakistan Business Network to launch in May

SKARDU, Pakistan: In the mountainous region of Gilgit-Baltistan (GB) in northern Pakistan, valleys like Choundha transform into picturesque landscapes each spring, as cherry and apricot blossoms emerge amid lingering snow.
The fleeting natural spectacle draws tourists eager to witness the vibrant contrast of pink and white flowers against snow-covered fields.
Located at an altitude of approximately 2,500 meters, Choundha Valley is surrounded by towering peaks and verdant forests. The region is renowned for its breathtaking scenery and is considered one of the most spectacular areas in Pakistan.
“This is the first time I have seen this valley and also the first time I have fully explored Gilgit-Baltistan,” a female tourist from Lahore, who only identified herself as Sarah, said.
“Seeing the valley was really amazing,” she added. “It was such a beautiful experience. After seeing it, I really felt like I had finally seen real nature. Honestly, I don’t even have the words to fully explain what it was like and how incredible everything we saw was.”

GB, an administrative territory in northern Pakistan, is known for its mountain ranges, including the Karakoram and the western Himalayas. The region is home to five of the world’s 14 peaks exceeding 8,000 meters, including K2, the second-highest mountain globally.
The region’s diverse climate and fertile valleys support a variety of fruit orchards, making it a significant contributor to Pakistan’s fruit production.
The region’s harsh winters and short spring season make the rare overlap of snowfall and blossoms a visual treat.
“By sheer luck, we were able to see both cherry blossoms and snow-covered mountains today,” Muhammad Farqan, 36, said. “This particular spot only happens once in a while — when both snow and cherry blossoms appear together — and we were lucky enough to experience it. Being here lifted my spirits, everything felt vibrant and alive.”

Apricots hold particular importance in the region’s agricultural landscape. Traditional sun-drying methods are employed to produce dried apricots, a staple in local diets and a source of income for many families.
Additionally, apricot kernels are used to extract oil and the fruit is made into jams and juices.
Cherries, too, are harvested in abundance and are sold fresh during the summer or preserved for local consumption.
In recent years, cherry-based products such as jams and syrups have also gained popularity, contributing to household incomes, particularly among women engaged in small-scale food processing.
“Last night it was very cold in the Choundha Valley and there was snowfall, which made the view even more magical today,” said tourist Yogi Samyia. “I feel that this moment fulfilled the whole purpose of our trip and every penny we spent was absolutely worth it.”
For many, the surreal setting leaves a lasting impression.
“It’s truly breathtaking to see God’s creation and the beauty of nature in such a pure form,” said Fahad Ali, 28. “I just can’t stop looking. It has become one of the most memorable experiences of my life. I have traveled to many countries, but I have never seen anything like this.”

KARACHI: Pakistan’s Finance Minister Muhammad Aurangzeb on Tuesday requested expedited disbursements under the Saudi Oil Facility in a meeting with Sultan bin Abdulrahman Al-Murshid, the top official at the Saudi Fund for Development (SFD), on the sidelines of the IMF-World Bank Spring Meetings in Washington.
The facility, agreed earlier this year, enables Pakistan to defer up to $1.2 billion in oil import payments, offering critical support to its foreign reserves amid a fragile economic recovery.
The SFD, a state-owned Saudi institution, provides concessional loans and grants to developing countries and has been a long-time financier of infrastructure and energy projects in Pakistan.
“The Minister requested expedited disbursements under the Saudi Oil Facility and assured the provision of evidence of oil shipments,” the finance ministry said in a statement issued Wednesday.
Aurangzeb noted that Pakistan’s macroeconomic outlook had improved, pointing to Moody’s recent upgrade of the country’s credit rating to B- with a stable outlook.
Pakistan and Saudi Arabia signed 27 memorandums of understanding (MoUs) worth $2.2 billion in early October 2024 during the Saudi investment minister’s visit to Islamabad.
The number and value of these deals increased later that month during Prime Minister Shehbaz Sharif’s visit to Riyadh, reaching 34 MoUs with a total projected investment of $2.8 billion.
By December, seven of these had been converted into agreements valued at $560 million, with several already under implementation at both the government-to-government (G2G) and business-to-business (B2B) levels.
During his meeting with the top SFD official, the Pakistani finance chief recalled his participation in the Al-Ula Conference on Emerging Markets held in Saudi Arabia in February, where he met with senior Saudi officials, including the kingdom’s finance minister, to expand economic cooperation.
During their conversation, Aurangzeb reviewed the SFD’s ongoing development portfolio in Pakistan and expressed satisfaction with the pace of implementation.
He also sought the SFD’s financial support for the National Highway N-25 infrastructure project.