Page 118 - Pakistan

Pak Army chief played role in securing funds from Saudi, UAE: PM Sharif

Pakistan's Prime Minister Shehbaz Sharif on Saturday disclosed that Army Chief General Asim Munir played a role in securing funds from Saudi Arabia and the UAE -- a pre-condition by the IMF to seal a bailout deal with the cash-strapped nation. Addressing a ceremony here, Sharif also expressed hope that now the IMF will not delay in reaching an agreement for USD 1.1 billion sought by Pakistan. "Chief of Army Staff General Asim Munir has contributed to the government's efforts to secure funds from Saudi Arabia and the UAE," Sharif said. Debt-ridden Pakistan and the IMF have failed to reach a staff-level agreement on the much-needed USD 1.1 billion bailout package aimed at preventing the country from going bankrupt. The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations. Earlier, the Pakistani Army had announced that Gen.

Petrol price in Pakistan likely to go up by Rs 10-14 per litre: Report

The increase can jump to 14 PKR per litre if govt also adjusts the exchange rate losses, unlike the previous review when the authorities didn't pass on the impact of rupee devaluation to the masses

Like Lanka and Pak, Bhutan to face huge losses if it sides with China: Rpt

While owing to its hegemonic desires, China claims the entirety of the plateau, India maintains the dignity of historical treaties

Army chief Munir calls for shunning debate of Naya' and Purana' Pakistan

Army chief General Asim Munir on Friday urged lawmakers to focus on "our Pakistan" instead of debating over 'Naya' or 'Purana' Pakistan and extended Army's full support to them in the country's journey toward development and success. His remarks came as the military's top brass briefed the lawmakers on the prevailing security situation, days after the county decided to launch a fresh operation against militants. According to a National Assembly Secretariat, the agenda of the in-camera meeting was the current issues of National Security. General Munir and his senior officers came to Parliament for the briefing session which was presided over by the National Assembly Speaker, Raja Pervaiz Ashraf. Foreign Minister Bilawal Bhutto-Zardari after attending the briefing told the media that national security was the focus of the session. No statement was issued after the briefing which was held after the top civil and military leadership last week reaffirmed their commitment to thwart ...

UAE assures Pakistan of $1-billion loan to revive IMF relief deal

Pakistan is tackling a major economic crisis as it awaits a much-needed $1.1 billion tranche of funding from the Washington-based International Monetary Fund

Pakistan says UAE assures $1 billion loan to help revive IMF deal

Pakistan is going through one of its biggest economic crisis ever as multiple delays in its loan program created a dollar shortage, import restrictions and reduced forex

National Fishworkers Forum urges India, Pak PMs to release 750+ prisoners

The National Fishworkers Forum on Thursday urged Prime Minister Narendra Modi and his Pakistani counterpart Shehbaz Sharif to release over 750 prisoners (fisher folks)

India can meet security challenges posed by Pakistan, China: Jaishankar

Forces who indulged in cross-border terrorism against India for decades now know this is a "different India" which will give them a reply, External Affairs Minister S Jaishankar has said, emphasising that today the country can meet its national security challenges posed by Pakistan and China. Addressing the Indian community in Uganda on Wednesday, Jaishankar spoke about the transformation of the country into a new India. Speaking about the challenges India faces on its borders, Jaishankar said: "Today, people see a different India that is willing to stand up and India which will meet its national security challenges whether it is Uri or whether it is Balakot." He was referring to the 2016 Uri attack by Jaish-e-Mohammed insurgents from Pakistan against an Indian Army brigade headquarters and the 2019 Balakot airstrike conducted by Indian warplanes in Balakot, Pakistan against a terrorist training camp. "Today, the forces which indulged in cross-border terrorism against India for ...

IMF slashes Pakistan's growth rate to 0.5% for FY23 amid high inflation

The IMF has lowered its forecast for Pakistan's economic growth rate from 2 per cent to just 0.5 per cent for the current fiscal year, amid high inflation and a growing unemployment rate in the cash-strapped country. This showed an unambiguous deterioration of economic fundamentals over the last six months since October when the IMF forecast the country's gross domestic product to grow by 3.5 per cent against 6 per cent for 2022 ago and inflation at 20 per cent against 12.1 per cent. The revision in Pakistan's growth prospects is in line with similar 0.4 per cent and 0.6 per cent projected last week by the World Bank and the Asian Development Bank, respectively. They also projected inflation at 29.5 per cent and 27.5 per cent respectively for the current year, the Dawn newspaper reported on Wednesday. In its flagship World Economic Outlook (WEO), the IMF has also estimated the unemployment rate in Pakistan to rise to 7 per cent against 6.2 per cent last year. For fiscal 2024, ...

India seeks global condemnation of Pak's delivery of weapons to terrorists

"The international community should condemn such behaviour and hold such states accountable for their misdeeds," Ruchira Kamboj said

Bomb targeting Pakistani police vehicle kills 4, wounds 15, says official

A roadside bomb targeting a police vehicle in volatile southwestern Pakistan on Monday killed at least four people and wounded 15 others, mostly civilian pedestrians, a government spokesperson said. The attack happened in Quetta, the capital of Baluchistan province, said Babar Yousafzai, a spokesman for the provincial government. He said the dead included two officers and two civilians. No one immediately claimed responsibility for the attack, but suspicion fell on the Pakistani Taliban, who have stepped up attacks across the country since November when they ended a monthslong cease-fire with the government. Pakistan has also been battling an insurgency in Baluchistan for more than a decade, with separatists in the province demanding complete autonomy or a larger share of the province's gas and mineral resources. In a statement, provincial chief minister Abdul Qudoos Bizenjo condemned the attack and ordered authorities to provide the best possible medical care to the wounded. The

Remittances sent by Pakistani expats reach $2.5 bn in March: central bank

Pakistani expatriates sent home USD 2.5 billion in remittances in March, a seven-month high, the State Bank of Pakistan said on Monday, as the cash-strapped country tried to avert a major economic crisis. The data from the central bank showed that the inflow of workers' remittances was 27 per cent higher compared to February. However, it was 11 per cent lower compared to March 2022, Geo News reported. Pakistan, currently tackling a major economic crisis, is grappling with high external debt, a weak local currency and dwindling foreign exchange reserves. According to the report, historical trends suggest that Pakistanis living abroad sent record-high remittances ahead of Eid festivals each year. According to the report, inflows remained comparatively high as non-resident Pakistanis used legal channels to send funds to their family, given the shrinking gap between rates in the interbank and the open market. Pakistani expatriates in Saudi Arabia topped the list of remittances by send

Shehbaz govt to table Pak SC bill in joint session of parliament today

The bill was aimed at curtailing the powers of the chief justice of Pakistan (CJP) -- including the suo motu and the formation of benches

PTI leader Imran Khan to present white paper against Pak govt's performance

According to sources, Khan will via a video link address, issue a white paper on the country's economic situation

Toshakhana case: Lahore High Court to hear Imran Khan's plea on April 12

A Pakistani court on Saturday fixed April 12 as the date for the much-awaited hearing on the Toshakhana corruption case against ousted prime minister Imran Khan. A five-member bench of the Lahore High Court headed by Justice Shahid Bilal Hassan will hear the plea, according to the Dawn newspaper. The petition, filed through Senator Barrister Syed Ali Zafar, pleads that the cognisance and exercise of jurisdiction by the Election Commission of Pakistan (ECP) based on an alleged incorrect statement of assets and the subsequent disqualification was unlawful and contrary to the Constitution, the report said. The court will resume the hearing on April 12 and allow both parties in the ongoing case to present their arguments, it said.

LIVE: Delhi reports 535 fresh Covid cases & 0 death in the last 24 hours

Catch live updates from across the globe here

IMF deal well on track, assures Pakistan Finance Minister Ishaq Dar

Pakistan's Finance Minister Ishaq Dar on Saturday assured a jittery nation that the much-delayed ninth review of the USD 7 billion IMF programme was well on track, a day after he cancelled his visit to Washington for the spring meetings of the IMF and World Bank. Cash-strapped Pakistan and the IMF have failed to reach a staff-level agreement on the much-needed USD 1.1 billion bailout package aimed at preventing the country from going bankrupt. The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations. The only hitch for the IMF deal to go through was the confirmation of a USD 1 billion commitment from a friendly country, Dar said in his address to the nation. In the past two weeks, one of our friendly countries has again given them (the IMF) the confirmation [of its commitment to help Pakistan] with USD 2 billion. We are now only awaiting the confirmation of a USD

Comparison should be done with someone better: SP chief Akhilesh reacts

Samajwadi Party chief Akhilesh Yadav on Saturday took a jibe at Uttar Pradesh Chief Minister Yogi Adityanath over his remarks on how India was faring better than Pakistan, saying comparison should always be done with someone better. In a tweet in Hindi, Yadav said, "Reference: UP chief minister is talking about being better than Pakistan. The golden rule of comparison: Comparison should always be done with someone who is better than you." On Friday, Adityanath said while India under Prime Minister Narendra Modi's leadership was providing free ration to over 80 crore people, the people in the neighbouring country were struggling to get two meals a day. "All Indians are getting benefits of development schemes without any discrimination. The nation is scaling new heights of prosperity. Efforts are being made to create the best security environment in the nation," he said. Without naming anyone, Adityanath added that some people wanted India to become like Pakistan.

Pak President Alvi returns to Parl Bill curtailing chief justice's powers

Pakistan President Arif Alvi on Saturday returned to Parliament for reconsideration a bill aimed at clipping the powers of the chief justice, citing that the proposed legislation is beyond the jurisdiction of the legislative body and can be assailed as a "colourable legislation". Pakistan is witnessing a rift between the judiciary and the government after a three-member bench of the Supreme Court headed by Chief Justice Uma Ata Bandial on Tuesday fixed May 14 as the new date for elections to the Punjab Assembly and quashed the Election Commission's decision to extend the date of the poll from April 10 to October 8. The apex court's verdict was criticised by the coalition government led by Prime Minister Shehbaz Sharif of the Pakistan Muslim League-Nawaz (PML-N) party, which has refused to accept it. The government also is keen to curb the suo moto (on its own) powers of the Chief Justice of Pakistan (CJP), Bandial. The Supreme Court (Practice and Procedure) Bill, 2023 was approved

Pakistan issues 2,856 visas to Sikh pilgrims for Baisakhi from April 9-18

During the visit, the pilgrims would go to Dera Sahib, Panja Sahib, Nankana Sahib and Kartarpur Sahib. They would enter Pakistan on April 9 and return to India on April 18