Page 9 - Shehbaz Sharif

India to virtually host SCO summit today, Pak PM Shehbaz, Xi to take part

The meeting of the SCO Heads of State will be chaired by Prime Minister Narendra Modi. The major issues that are expected to be on the agenda include terrorism, regional security and prosperity

Pak should break addiction to IMF bailouts, use crisis as an opportunity

The IMF's bailout package - the 23rd for Pakistan since its independence in 1947 - was suspended in November 2022 because the government had not acted on the IMF's conditions for the loan

Pakistan, IMF discussing $2.5 bn on 'short-term standby arrangement'

Cash-strapped Pakistan and the IMF are discussing a new short-term standby arrangement (SBA) worth about USD 2.5 billion to get the country through the political transition to the newly-elected government in the second quarter of the current fiscal year, according to a media report on Wednesday. Pakistan's ninth review by the International Monetary Fund (IMF) under the 2019 Extended Fund Facility (EFF) for the release of a USD 1.2 billion tranche is still pending with the programme's expiry on June 30. A new short-term six to nine months standby arrangement (SBA) is being discussed by Pakistan and the IMF worth about USD 2.5bn, the remaining part of the EEF expiring on June 30, the Dawn newspaper reported. Pakistan Prime Minister Shehbaz Sharif on Tuesday discussed the IMF programme with IMF Managing Director Kristalina Georgieva and expressed hope that coordination on the points of the bailout programme would lead to a decision from the global lender in a day or two, a statement

Pak PM Sharif asks IMF chief for early release of stalled bailout fund

Pakistan Prime Minister Shehbaz Sharif held a phone call with IMF Managing Director Kristalina Georgieva on Tuesday during which he expressed hope that the global lender would announce a decision on the release of the bailout fund within a day or two. Pakistan's ninth review by the International Monetary Fund under the 2019 Extended Fund Facility (EFF) for the release of a USD 1.2 billion tranche is still pending with fewer than 10 days remaining until the programme's expiry on June 30. Sharif discussed the IMF programme with Georgieva and expressed hope that coordination on the points of the bailout program would lead to a decision from the global lender in a day or two, a statement by the PM Office said. Pakistan signed a USD 6.5 billion package with the Washington-based IMF in 2019. The plan was derailed several times and the full reimbursement is still pending due to insistence by the donor that Pakistan should complete all formalities. The prime minister also reiterated his .

IMF chief asks Pak PM to resolve policy differences before getting loan

IMF Managing Director Kristalina Georgieva has urged Pakistan's Prime Minister Shehbaz Sharif to resolve policy differences at the global lender's staff level prior to getting a much-needed loan to stabilise the cash-strapped country's economy, according to a media report. Georgieva said this during her meeting with Prime Minister Shehbaz Sharif that took place on Thursday on the sidelines of the New Global Financial Pact summit in Paris, The Express Tribune reported on Thursday. "Prime Minister Sharif met IMF MD Kristalina Georgieva. During the meeting she emphasised and insisted that all the policy matters should be resolved at the IMF staff level," the report said. The International Monetary Fund (IMF) signed a deal in 2019 to provide USD 6 billion to Pakistan on the fulfilment of certain conditions. The plan was derailed several times and the full reimbursement is still pending due to insistence by the donor that Pakistan should complete all formalities. During the meeting, ..

Pakistan enters election mode, poll body starts making arrangements

As per law, the last date of registration, exclusion and verification of voters is July 13

300 Pakistanis dead as boat capsizes in Greece: Here's what happened

Between 400 and 750 people were believed to have been aboard the vessel, when it sank about 80 km off the southern Greek town of Pylos

Shehbaz Sharif asks Nawaz to return Pakistan, become PM for fourth time

It is pertinent to mention that Nawaz Sharif has been in self-imposed exile in London since November 2019 owing to health reasons

Pak PML-N chooses Shehbaz Sharif as party president; Maryam Nawaz his VP

The ruling Pakistan Muslim League-Nawaz (PML-N) on Friday picked Prime Minister Shehbaz Sharif as the party's president while Maryam Nawaz was chosen as the senior vice president. The decision was taken in a meeting of the PML-N general council, which also chose several office bearers, including Ahsan Iqbal as secretary general. Among other party leaders, Marriyum Aurangzeb was picked as the secretary of information, Ataullah Tarar as the deputy secretary, and Ishaq Dar as the secretary of finance and overseas affairs. The elections were uncontested, apparently indicating a show of unity within the PML-N, but actually an indication of the iron grip by the Sharif family members who virtually hand-picked every office holder of the party. Shehbaz was elevated in 2018 to hold the reins of the party after his elder brother as well as former premier Nawaz Sharif was first disqualified as prime minister and later barred by the country's apex court to lead the party as the president. It i

$30 billion loss to Pakistan due to floods, rains: PM Shehbaz Sharif

Sharif reiterated that the ninth review with the IMF will be completed during the current month of July as he held an hour-long telephonic conversation with the fund's chief

Pak PM hopes to strike IMF deal as 'all conditions met' despite hardship

Pakistan Prime Minister Shehbaz Sharif on Friday hoped the IMF would resume the stalled USD 6.7 billion bailout programme as his country has already met all prior conditions set by the global lender despite economic hardships. The premier's remarks came as Finance Minister Ishaq Dar presented a PKR 14 trillion budget for the fiscal year 2023-24, which the government claims to have shared with the International Monetary Fund (IMF). The budget needs to satisfy the IMF to secure the release of more bailout money for the cash-strapped Pakistan, which is due to hold a general election by November. "The ninth review will be complete soon," Sharif said during his address to the federal cabinet of the coalition government, which presented its second budget. Referring to the devastating floods triggered by climate change, he said it inflicted losses worth over USD 30 billion on the country's economy. He added that the Ukraine crisis also pushed the prices of commodities in the internation

Pakistan PM Sharif tells FinMin to follow IMF parameters in budget: Report

Pakistan Prime Minister Shehbaz Sharif has directed the finance ministry to ensure that the budget is in line with the parameters set by the IMF, amid ongoing negotiations with the global lender for a bailout package for the cash-strapped country, according to a media report on Wednesday. The country's budget is likely to be presented on Friday. A week back, Sharif held a telephone conversation with International Monetary Fund (IMF) Managing Director Kristalina Georgieva and urged her to revive the USD 6.5 billion deal that was initially signed in 2019 and is set to expire by the end of this month. Geo News, citing an informed source, said Sharif, during a meeting with Finance Minister Ishaq Dar on Tuesday, expressed optimism that the government would reach an agreement with the IMF. The source also dismissed speculation that the government would present a populist election-year budget and said, "Pakistan can't afford any budget that violates the set basics of the IMF." The prime

Pak PM calls for providing relief to poor, middle class in budget 2023-24

Cash-strapped Pakistan's Prime Minister Shehbaz Sharif has directed the authorities to take major steps in the budget for the welfare of poor and middle class, in an effort to make it people-friendly ahead of general elections which are expected in October. "Despite economic challenges, special measures should be taken for the protection of vulnerable sections of society," he said while chairing a meeting on Monday to finalise measures to provide relief to the poor and middle classes of society. Pakistan, currently in the throes of a major political as well as economic crisis, is grappling with high external debt, a weak local currency and dwindling foreign exchange reserves. The inflation level rose by a whopping 36.4 per cent in the year in April, driven mainly by food prices. This is the highest in South Asia, and up from 35.4 per cent in March, according to the country's statistics bureau. The budget 2023-24 is expected to be presented in the parliament on June 9 and the ...

Pakistan deploys troops to halt unrest from ex-PM Imran Khan's arrest

Pakistan police arrested Fawad Chaudhry, Khan's deputy and vice president of his Pakistan Tehreek-e-Insaf party, outside the Supreme Court in Islamabad

Imran Khan's supporters attack house of Pakistan PM Shehbaz Sharif

Over 500 miscreants from Pakistan Tehreek-e-Insaf (PTI) party reached the Model Town Lahore residence of the prime minister in the early hours of Wednesday and set ablaze vehicles parked over there

Pakistan PM Shehbaz Sharif says protesters to be dealt with 'iron fist'

Pakistan Prime Minister Shehbaz Sharif on Wednesday condemned the deadly protests by the supporters of former premier Imran Khan after his arrest in a corruption case and warned to deal with demonstrators with an iron fist. The prime minister made a brief address to the nation after the country was rocked by deadly violence during the last two days which saw attacks on military installations and state properties. Attack on public property is an act of terrorism and enmity towards the country, the prime minister said, adding that those taking the law into their own hands would be dealt with an iron fist. They will be given an exemplary punishment, he said. The premier said the protection of the State and ideology of Pakistan is more precious to us than our lives and we will not allow anyone to conspire against it and vowed to defeat the "nefarious designs of enemies.

Pak's anti-graft body declares PM, son innocent in a money laundering case

In a major relief for Pakistan Prime Minister Shehbaz Sharif and his son Hamza, the National Accountability Bureau has declared the father-son duo were innocent in a money laundering case after it conducted a re-investigation, a media report said on Wednesday. The case was filed by the anti-corruption agency in 2020, which alleged that Shehbaz and his family members were involved in money laundering and illegal transfer of funds through fake accounts. The supplementary report was submitted to the accountability court and presented during the hearing conducted by Accountability Court judge Qamar-ul-Zaman, Samaa TV reported on its website. During Wednesday's hearing, Hamza Shehbaz filed a petition seeking an exemption from attendance on medical grounds, which was approved by the court. The supplementary report, submitted on Monday, stated that the 71-year-old prime minister, his wife Nusrat Shehbaz, son Hamza Shehbaz, and other accused were found to have no involvement in the matter

Elections in country will take place on same day: Pakistan's Shehbaz Sharif

Prime Minister Shehbaz Sharif here on Saturday said elections in Pakistan will take place on the same day, Dawn reported

Bilawal Bhutto Zardari in India today: A look at the legacy of his family

SCO Foreign Ministers' meeting: A Pakistani foreign minister will attend a meeting in India after 12 years, but Bhutto Zardari comes with a long political legacy

Pakistan planning to hold provincial, national elections at the same time

Khan wants to hold snap elections but the ruling coalition planned to complete the government's term, which would mean national elections in October