Page 57 - Pakistan

Pakistani Taliban announces 3-day cease-fire on Eid al-Adha holiday

A key Pakistani militant group behind scores of gun and bomb attacks on Sunday announced a rare cease-fire with security forces during the Muslim holiday of Eid al-Adha. Eid al-Adha will be celebrated in Pakistan on Monday amid a surge in violence. The cease-fire announcement would allow worshippers to attend Eid prayers at mosques and open areas without fear of attacks by militants. Tehreek-e-Taliban Pakistan, which is a separate group from but a close ally of the Afghan Taliban, said in a statement it decided to announce a cease-fire on the demand from the Pakistani people. TTP said its fighters would defend themselves if acted by security forces. TTP has been emboldened since the Afghan Taliban seized power in neighboring Afghanistan in August 2021, when the US and NATO troops were in the final stages of their pullout from the country after 20 years. This is the second time that TTP has announced a cease-fire, after 2021. That cease-fire ended in 2022. Since then, the Pakistan

'People want Imran Khan to be kept in jail for 5 yrs for progress of Pak'

Federal Planning and Development Minister Ahsan Iqbal expressed concern that the 71-year-old Pakistan Tehreek-e-Insaf (PTI) release could lead to renewed protests and unrest

Shehbaz Sharif vows to end Pak's dependency on foreign aid and IMF bailouts

Prime Minister Shehbaz Sharif has pledged to end Pakistan's dependency on foreign aid and IMF bailouts and surpass neighbouring nations in economic activity, as he outlined a series of bold reforms to reduce the cash-strapped government's expenses and revive the economy. Sharif addressed the nation on Saturday and expressed hope that the next deal with the International Monetary Fund (IMF) for a bailout package would be the last in Pakistan's history. The Pakistan government is currently in talks with the IMF for a loan estimated to be between USD 6 billion to USD 8 billion, as it strives to avert a default in a slow-paced economy. Sharif emphasised that every penny would be spent on the progress of the nation and its people. He expressed commitment to reduce expenses and, within five years, provide education and skills to the youth. Inshallah, this will be the last IMF programme in Pakistan's history. We will stand on our feet and surpass our neighbouring countries in economic ..

Cyber attack hits Pakistani UN Mission; email, YouTube channel breached

Pakistan's Permanent Mission to the UN was targeted by a cyber attack, infiltrating its official email account and the YouTube channel, a media report said on Saturday. The cyber attack occurred on Friday, at 4 pm US time, The Express Tribune newspaper reported. The breach targeted the email ID used by the Permanent Mission's information wing, the report said. The mission's YouTube channel was also compromised, and the attackers altered its name, banners, and content, the report said, quoting sources. The Pakistani UN mission requested all emails and videos put on its channels be ignored until they regain control of their accounts. No group/entity has taken responsibility for the cyber attack.

Agreement with IMF for fresh loan expected next month: Pak Finance Minister

Pakistan's finance minister Mohammad Aurangzeb on Thursday said an agreement to secure a fresh loan to address the country's economic woes is expected to be reached with the International Monetary Fund next month. Aurangzeb, while addressing a post-budget press conference here, a day after unveiling the Rs 18,877 billion budget, announced that negotiations with the IMF were underway and going in the right direction. I don't want to say anything in finality other than the fact that it's (IMF talks) moving positively, he said and expressed hope that a staff-level agreement (SLA) is expected in July too. He, however, declined to talk further on the topic of SLA. The budget, which many believe is designed to meet IMF requirements for securing another USD 6 billion to USD 8 billion loans under the medium-term Extended Fund Facility (EFF), marks a 25 per cent increase over the outgoing fiscal year's outlay. The government has proposed historically-high additional taxes through various .

Pak may borrow $23 bn in next fiscal year to finance development plans

Pakistan has planned to borrow a minimum of USD 23 billion in the next fiscal year, including the rollover of a bilateral debt of USD 12 billion, to finance its development plans and meet its external financing requirement which will keep the cash-strapped country's foreign and economic policies dependent on global financial institutions like the IMF, according to a media report on Thursday. Budget documents for fiscal year 2024-25 showed that Pakistan would borrow at least USD 23.2 billion, or Rs 5.9 trillion, which did not include any loan from the International Monetary Fund (IMF), The Express Tribune newspaper reported, adding that the International Monetary Fund's loan will be for balance of payments support. Out of the USD 23 billion, the government has included USD 20 billion in budget documents. It has not made the rollover of USD 3 billion by the United Arab Emirates (UAE) part of federal books as it is also meant for balance of payments support. Details showed that Pakista

Fresh encounter in J-K, 4 terrorists hiding in upper Doda: Police. Updates

The latest encounter in Doda on Wednesday marked the third incident in Jammu and Kashmir this week. Earlier, two terror attacks took place in Doda and Kathua on Tuesday

Pakistan govt announces nearly 15% hike in defence Budget for 2024-25

Pakistan on Wednesday announced a nearly 15 per cent hike in its defence spending and allocated Rs 2,122 billion in the 2024-25 budget, marking a significant increase from last year amidst strenuous efforts to secure a fresh loan from the IMF to meet the cash-strapped nation's external liabilities. Finance Minister Muhammad Aurangzeb presented the budget in the National Assembly, the lower house of parliament, the first budget of the Pakistan Muslim League (Nawaz) (PML-N) and Pakistan Peoples Party (PPP) coalition government which came to power after the February 8 general elections. Last year, the government allocated Rs 1,804 billion for defence, which was higher than the Rs 1,523 billion allocated the previous year. Aurangzeb said the government set a 3.6 per cent GDP growth target for the next year -- higher than the 3.5 per cent set for the outgoing year. The country however missed that target and could only achieve 2.38 per cent growth. He said the total volume of the budget

News updates: US Fed leaves interest rates unchanged at 5.25%-5.5% again

From the oath-taking ceremonies scheduled in Odisha and Andhra Pradesh to Pakistan's annual budget, catch all the latest updates from around the world here

Congress questions PM Modi's 'silence' on terror attacks in J-K's Reasi

The Congress on Wednesday said the BJP's chest-thumping and "hollow" claims of return of peace and normalcy in Jammu and Kashmir have been thoroughly exposed by the three terror attacks in the region in the past three days. Congress leader and in-charge of media and publicity department Pawan Khera also questioned the silence of Prime Minister Narendra Modi on the matter, claiming he has time to respond to Pakistani leaders, but no time to condemn the brutal terror attacks. "BJP's loudmouth chest-thumping and hollow claims of return of peace and normalcy in Jammu and Kashmir have been thoroughly exposed. The fact that BJP did not even bother to fight elections in Kashmir valley is a testament to the fact that their 'Naya Kashmir' policy is an abject failure," Khera said in a statement. His remarks come amid a rise in terror incidents in the twin border districts of Rajouri and Poonch. Khera claimed that in the past 10 years, "loud chest-thumping" by the Modi government has made ...

Pakistan's donkey population rises to 5.9 million in FY23-24: Survey

Pakistan's population of donkeys has increased by 1.72 per cent to reach 5.9 million during the fiscal year 2023-24, according to the latest official data on the livestock in the agrarian country. The Pakistan Economic Survey (PES) 2023-24, which highlights the key economic achievements in the outgoing fiscal year, was launched on Tuesday. It showed the donkey population has been increasing. The data shows that the population of the "beasts of burden" was 5.5 million in 2019-2020, 5.6 million in 2020-21, 5.7 million in 2021-22, and 5.8 million in 2022-23, while it jumped to 5.9 million in 2023-24. However, horses and mules, the close cousins of donkeys, were less fortunate, and there has been no change in their numbers for the last five years, which remained at 0.4 million and 0.2 million, respectively. Donkeys may be the last hope for many Pakistanis, especially those living in the countryside, where the rural economy is closely associated with the animals. The survey unveiled by

Minnow or never: How Karl Marx can solve world cricket's income inequality

Wigmore believes German philosopher Karl Marx's Communist ideology of "Equitable distribution of wealth" is the antidote to cricket's travails

Pakistan missed GDP growth target; achieves 2.38% in FY24: Economic Survey

Pakistan has missed the growth target for the financial year 2023-24 and achieved 2.38 per cent GDP growth against the target of 3.5 per cent, the cash-strapped government acknowledged on Tuesday. The Economic Survey of Pakistan 2023-24, a pre-budget document detailing the country's major socio-economic achievements during the outgoing fiscal year, was launched by Finance Minister Muhammad Aurangzeb at a press conference. The real GDP posted a growth of 2.38 per cent in FY 2024, showed the document, adding that due to prudent policy management and the gradual economic recovery, the negative growth in FY 2023 turned to positive in FY 2024. The growth remained below the estimated target of 3.5 per cent for the outgoing year and the government failed to achieve it, mainly due to underperformance of industries and services sectors. The minister said that agriculture outperformed every other sector by posting 6.25 per cent growth against a target of 3.5 per cent. However, the industria

World Bank approves $1 bn loan for China-backed hydropower project in Pak

The World Bank has approved an additional loan of USD 1 billion for cash-strapped Pakistan to support the China-backed Dasu hydropower project in the restive Khyber Pakhtunkhwa province. According to a report in the Express Tribune newspaper, this constitutes the third major financing by the global lender for the project, which earlier secured USD 588.4 million for preparatory works and an additional USD 700 million for constructing the transmission line to transmit electricity from the project. The Dasu hydropower project, situated approximately 300 km north of Islamabad in the unruly Khyber Pakhtunkhwa province, is being developed by China Gezhouba with funding from the global lender and has endured at least two deadly terrorist attacks targeting Chinese nationals involved in its construction. The World Bank in a press release on Monday said it has approved USD 1 billion additional financing for the DASU Hydropower Stage I (DHP I) Project. "This financing will support the expansi

Modi 3.0: Jaishankar to prioritise China border issue, Pak terror solution

Ahead of assuming charge on Tuesday after being sworn in as the country's foreign minister for the second time on Sunday, he noted that both the neighbouring countries present unique challenges

Pak allocates Rs 3.79 trn for national development plan to boost growth

Pakistan has approved an ambitious national development plan worth Rs 3.79 trillion (USD 13.6 billion) for the next fiscal year as authorities in the cash-strapped country try to use expansionary public investment to boost growth. The decision, taken at the high-level meeting of the National Economic Council (NEC) on Monday, comes just two days before the unveiling of the budget 2024-25 on Wednesday. Prime Minister Shehbaz Sharif chaired the meeting while chief ministers of all four provinces participated in the four-hour-long meeting, the Dawn newspaper reported. The meeting approved a more than 47 per cent increase in the federal Public Sector Development Programme (PSDP) to Rs 1.4 trillion compared to the current year's Rs 950 billion. The Rs 1.4 trillion total federal PSDP would also include foreign financing of Rs 316 billion. The federal development programme goes up by 58 per cent or Rs 1.5 trillion if other Rs 100 billion public-private partnership (PPP) projects are ...

Taiwan slams China and Pakistan on misinterpretation of UN resolution 2758

According to Focus Taiwan, MOFA issued a press release Monday stating that resolution 2758 only addresses the issue of China's representation in the United Nations and does not mention Taiwan at all

Pakistan cuts benchmark interest rate for first time in four years

The State Bank of Pakistan reduced the target rate by 150 basis points to 20.50 per cent, compared to a median estimate for a 100 basis point cut. Only two economists predicted the decision

Pakistan's Budget aims to set stage for new bailout deal with IMF

Pakistan is in talks with the IMF for a loan estimated to be anything between $6 billion to $8 billion to avert a default for an economy

PM Sharif vows to eliminate terrorism after 7 soldiers killed in attack

Pakistan Prime Minister Shehbaz Sharif on Monday pledged to "relentlessly eliminate terrorism" from the country after seven soldiers, including a Captain, were killed in a terrorist attack in the restive Khyber Pakhtunkhwa province a day earlier. The incident occurred when the convoy of security personnel heading towards Kachi Qamar, Sarband Post of the Lakki Marwat district, came under attack by the terrorists. The terrorists blasted an improvised explosive device (IED) initially and later opened fire on the convoy. "Deeply saddened by the martyrdom of Pak Army personnel, including a Captain in a targeted attack in Lakki Marwat District," Sharif said in a post on X. "The sacrifices of our brave soldiers and citizens is a debt on us that we must repay by relentlessly eliminating terrorism from our nation," he said, condoling the deaths. According to the security officials, Lakki Marwat is a hotbed of the Tehreek-e-Taliban Pakistan (TTP) terrorists. Pakistan has been facing a resu