Page 8 - Pakistan Government

Pakistan's FM Aurangzeb sees 'encouraging' reply from China debt talks

Pakistan is seeing a period of stability after securing a new $7 billion loan program from the IMF

Pakistan central bank announces $30 billion foreign debt repayments in FY25

Pakistan's central bank has said the country is scheduled to repay a total of USD 30.35 billion in maturing foreign debt and interest payment in this financial year even as the foreign debt repayments and interest payments are rising every passing year, a media repot said on Monday. The payments over the 12 months from August 2024 to July 2025 include those significant loans which bilateral creditors roll over every year, reported the Express Tribune quoting a JS Global report, which, in turn, cited data from the State Bank of Pakistan (SBP). The report showed that Pakistan is to repay maturing foreign debt worth USD 26.48 billion and pay another USD 3.86 billion on account of interest expense in the period. Pakistan's repayments and interest payments are fully secured under the latest USD 7 billion IMF Extended Fund Facility (EFF) through the loan period of 37 months. In terms of debt-to-GDP ratio, however, the foreign debt has dropped to 20.2 per cent in August 2024 from 27.6 per

Protests in Pakistan after govt raises taxes by 40% under IMF bailout

Prime Minister Shehbaz Sharif, whose coalition government has only been in power for seven months, is urging patience in a country that can no longer keep up

Bidding for Pakistan's national airline delayed to Oct 31: Officials

Pakistan's government has previously said it would sell between 51-100 per cent of the loss-making airline as part of reforms urged by the International Monetary Fund (IMF)

Pakistan cuts 150K jobs, dissolves six ministries as part of IMF deal

In an effort to minimise administrative expenditures, cash-strapped Pakistan on Sunday announced to abolish about 150,000 government posts, close six ministries, and merge two others, as part of reforms agreed upon with the IMF under USD 7 billion loan deal. The International Monetary Fund on September 26 finally gave a nod to the assistance package and also released over USD 1 billion as the first tranche after Pakistan committed to cut expenditures, increase tax-to GDP ratio, tax non-traditional sectors like agriculture and real estate, limit subsidies and transfer some fiscal responsibilities to provinces. Addressing the media on his return from the US, Minister for Finance Muhammad Aurangzeb said that a programme had been finalised with the IMF, which would be the last programme for Pakistan. We need to implement our policies to prove that it will be the last programme, he said, and emphasised that in order to join the G20, the economy must be formalised. The minister said ...

Pakistan government plans to privatise several institutions or shut them

Earlier on August 22, the federal cabinet approved the privatization of two departments under the Petroleum Division, ARY News reported

Pakistani HC disposes of petition regarding Imran Khan's military trial

The 71-year-old former cricketer-turned-politician had petitioned the Islamabad High Court against his trial being handed over to the military authorities

Election Commission failed to perform its duties in Feb 8 elections: Pak SC

Order also expressed 'some doubts about whether the commission has the power to reject the certificate of intra-party elections' which resulted in all kinds of legal and political implications for PTI

Pakistan accepts IMF's condition to not establish new SEZs: Report

Pakistan has accepted the IMF condition that it would not establish any new special economic or export processing zone in the country as it waits for the approval of a USD 7 billion bailout package from the international money lender, a media report said on Wednesday. The Washington-based lender's condition will impact the government's plans to establish an export processing zone (EPZ) on a piece of land belonging to the closed Pakistan Steel Mills, The Express Tribune newspaper reported. The report quoted government sources as saying that the IMF had asked Pakistan that it would not create any new special economic zone (SEZ) or EPZ and tax incentives already availed by the existing zones will not be extended after expiry. While the condition will be applicable to both federal and provincial governments, Khyber Pakhtunkhwa has refused to accept it, the report said. The IMF's conditions underscore how deeply it has captured Pakistan's economic and industrial policies, which could ..

Will not compromise with govt, says ex-Pak PM Imran after 400 days in jail

The government ministers say Khan's freedom is linked with his unconditional apology for the riots in which the PTI workers allegedly attacked state and military installations

Pak HC temporarily bars trial court from issuing verdict against Imran Khan

A high court in Pakistan Monday temporarily barred a trial court from issuing its verdict in an alleged case of corruption against jailed former premier Imran Khan and his wife, Bushra Bibi. An anti-corruption court has been hearing the Al-Qadir Trust case against the former first couple which is based on the charges that Khan caused a loss of over Rs 50 billion to the national exchequer. A two-judge bench of the Islamabad High Court (IHC), comprising Justices Mian Gul Hassan Aurangzeb and Babar Sattar, heard Khan's petition requesting the submission of records from the National Accountability Bureau's (NAB) previous decision to close the case. Barrister Salman Safdar, representing Khan, highlighted that the case originally included eight accused, of which six were currently at large. "A total of 35 witnesses have testified so far, with the cross-examination of the final witness in progress," Safdar informed the court. After arguments, the bench restrained the trial court from ...

Weakening the military is weakening the nation: Pak Army chief Gen Munir

Pakistan's Army chief General Asim Munir has said that any attempt to undermine the nation's powerful military is equivalent to weakening the country. Addressing the Azadi Parade at the Pakistan Military Academy on the eve of the country's 78th Independence Day, he also underscored the importance of maintaining national unity amidst efforts by foreign powers using digital terrorism' to create a gulf between state institutions and the people of Pakistan. "We emerge as a strong nation after trial and tribulations. To weaken Pakistan's armed forces is tantamount to weakening the country itself," Geo News quoted him as saying. Asserting that the nation's unwavering trust in the Pakistan Army is the military's most valuable asset, he said, Neither any negative force has ever been able to weaken this relationship of trust and love nor can it do so in future. Historically, we as a nation have always emerged stronger after every hardship," he said, adding that mutual trust between the coun

74% Pakistanis unable to meet expenses, 10% doing two jobs: Report

Survey of Pakistan with roughly 240 mn population, also highlighted that more than half of those who are just managing to cover expenses, are unable to save any money after meeting their basic needs

Imran Khan being given substandard food in jail, allege party leaders

On Sunday, Khan refused to apologise for May 9 riots that erupted after his arrest last year, claiming that it was Army that owed him an apology since he was abducted by paramilitary rangers

British journalist deported from Pak after seeking meeting with Imran Khan

A 73-year-old British-American author and journalist, who sought an interview with Pakistan's jailed former premier Imran Khan, has been deported after his tourist visa was revoked, a media report said on Thursday. Charles Glass, an author, journalist, broadcaster, and publisher who specialises in the Middle East, was told by law enforcement agencies on Wednesday that his visa had been cancelled and he had five hours to leave the country, the Dawn newspaper reported. Glass has served prominent media organisations such as Newsweek, ABC TV, and The Telegraph, among others, and currently works as a freelance journalist. He had been trying to secure a meeting with Khan. Sources told the paper that Glass, who was recently spotted outside Adiala jail in Rawalpindi alongside Khan's sister Aleema, was at the residence of Islamabad-based senior journalist Zahid Hussain when they were visited by a large police contingent. Around noon on Wednesday, a team led by an assistant superintendent of

Pakistan's 'Beep' messaging app launch raises citizen concerns: Here's why

Previously referred to as a "WhatsApp killer," the Beep Pakistan app is being touted by the critics as part of a broader government strategy to control online discourse and limit access to informatio

Baloch nation raises voice: Thousands join Quetta rally against Pakistan

The protestors allege that Pakistani defence forces are trying to stop them from participating in nationwide gatherings

Human Rights Watch urges restraint as Pak forces crackdown on Balochs

Pakistani security forces have reportedly detained several peaceful protesters from Hub Chowki and Karachi who were demonstrating against "brutality" by the administration

Pak's Karachi ranked 2nd-riskiest city for tourists, only behind Caracas

Karachi has been ranked as the second-riskiest city for tourists, with a rating of 93.12 out of 100, according to a July 11 Forbes Adviser list, reported Dawn.The July 11 Forbes Adviser list of three of the riskiest cities highlighted that Karachi was second just behind Venezuela's Caracas, which had a score of 100, while Myanmar's Yangon ranked third with a score of 91.67 out of 100.According to the ranking, the city had the highest personal security risk, reflecting risk from crime, violence, terrorist threats, natural disasters, and economic vulnerabilities.It added that Karachi had the second-worst (level 3, reconsider travel) travel safety rating from the US State Department, as reported by Dawn.Moreover, Karachi has the fourth-highest infrastructure security risk, reflecting the availability and quality of city infrastructure, according to the report.To uncover the most and least risky cities for tourists, Forbes Adviser said that it compared 60 international cities across seven

China is past in terms of investments in Pakistan, US is future: Official

Days of China investing in Pakistan is now a thing of the past, a senior administration official has told the lawmakers noting that the United States is the future. China is the past in terms of investments in Pakistan, we are the future, Assistant Secretary of State for South and Central Asia Donald Lu told lawmakers during a Congressional hearing on Tuesday. Lu was responding to questions from the Congressmen, who expressed concerns over the Chinese investment in Pakistan and other countries in South and Central Asia, including Sri Lanka and Maldives. I would argue the Chinese plan is to have a military base in every country and every infrastructure project is made with high interest Chinese loans and low paid Chinese workers. We just see this model all throughout the region, he said. The Chinese bring in their own workers. They don't actually train local workers to do their enterprises. They extract minerals, literally take gold and copper from the ground and just ship it back f