IMF says talks continuing virtually with Pakistan for fresh loan program

IMF says talks continuing virtually with Pakistan for fresh loan program
The seal for the International Monetary Fund is seen near the World Bank headquarters (R) in Washington, DC on January 10, 2022. (AFP/File)
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Updated 07 June 2024
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IMF says talks continuing virtually with Pakistan for fresh loan program

IMF says talks continuing virtually with Pakistan for fresh loan program
  • The IMF opened discussions with Pakistan on a new loan program after Islamabad completed in April a $3 billion program, which helped avert a debt default
  • Pakistan is likely to seek at least $6 billion under the new program and request additional financing from the IMF under the Resilience and Sustainability Trust

ISLAMABAD: The International Monetary Fund (IMF) said on Thursday its talks with Pakistan were continuing virtually for a fresh loan program to help the South Asian country stabilize its fragile $350 billion economy.

The IMF opened discussions with Pakistan on a new loan program after Islamabad completed in April a $3 billion program, which helped stave off a sovereign debt default.

An IMF team, led by mission chief Nathan Porter, arrived in Pakistan on May 13 and held discussions on the new bailout for more than week.

"We made significant progress toward reaching a staff-level agreement on a homegrown program that can be supported under a new Extended Fund Facility (EFF) with the Fund," IMF spokesperson Julie Kozack said at a press briefing. "Those discussions are continuing virtually."

Pakistan is likely to seek at least $6 billion under the new program and request additional financing from the IMF under the Resilience and Sustainability Trust.

The South Asian country narrowly averted a default in June 2023 and its $350 billion economy has slightly stabilized after the completion of the last IMF program, with inflation coming down to around 17 percent in April from a record high of 38 percent in May last year.

Pakistan is still dealing with a high fiscal shortfall and while it has controlled its external account deficit through import control mechanisms, it has come at the expense of stagnating growth, which is expected to be around 2 percent this year, compared to negative growth last year.

However, the IMF had warned ahead of the discussions that downside risks for the Pakistani economy remained exceptionally high.


Pakistan, Saudi military officials agree to deepen defense and security ties

Pakistan, Saudi military officials agree to deepen defense and security ties
Updated 4 sec ago
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Pakistan, Saudi military officials agree to deepen defense and security ties

Pakistan, Saudi military officials agree to deepen defense and security ties
  • General Sahir Shamshad Mirza is in Saudi Arabia for the Joint Military Cooperation Committee meeting
  • His discussions with Saudi officials focused on military exchange programs, ongoing training initiatives

KARACHI: Senior Pakistani and Saudi military officials have agreed to further consolidate bilateral defense and security cooperation during their meetings in the Kingdom, the Inter-Services Public Relations (ISPR) said in a statement on Saturday.
Pakistan’s Chairman Joint Chiefs of Staff Committee General Sahir Shamshad Mirza is currently visiting Saudi Arabia to attend the 8th round of the Pakistan-Saudi Joint Military Cooperation Committee (JMCC) meeting.
The Kingdom remains one of Pakistan’s key defense and security allies, with ties encompassing a range of activities, including counterterrorism collaboration.
“Both sides reviewed the ongoing cooperation between Armed Forces of Pakistan and Saudi Arabia, focusing on mutual exchange programs, training initiatives and other defense-related activities,” the ISPR said.

In this handout photo, released by the Saudi Ministry of Defense on February 14, 2025, Pakistan’s Chairman Joint Chiefs of Staff Committee General Sahir Shamshad Mirza reviews the Guard of Honor at the Armed Forces Headquarters in Riyadh, as he arrives to attend the 8th round of the Pakistan-Saudi Joint Military Cooperation Committee (JMCC) meeting. (Photo courtesy: Handout/MOD)

“The military leadership reaffirmed their commitment for further strengthening existing defense and security cooperation between the two brotherly countries,” it added.
During his visit, General Mirza held meetings with Major General Talal Bin Abdullah Al-Otaibi, Assistant Minister of Defense, and General Fayyadh bin Hamed Al-Ruwaili, Chief of General Staff of Saudi Arabia.

In this handout photo, released by the Saudi Ministry of Defense on February 14, 2025, Pakistan’s Chairman Joint Chiefs of Staff Committee General Sahir Shamshad Mirza (left) reviews the Guard of Honor at the Armed Forces Headquarters in Riyadh, as he arrives to attend the 8th round of the Pakistan-Saudi Joint Military Cooperation Committee (JMCC) meeting. (Photo courtesy: Handout/MOD)

Their discussions covered strategic and security issues, the evolving regional environment and bilateral defense collaboration.
The JMCC meeting, which Mirza and Al-Ruwaili co-chaired, serves as a key platform for defense dialogue and coordination between the two nations.

In this handout photo, released by the Saudi Ministry of Defense on February 14, 2025, Saudi military officials welcome Pakistan’s Chairman Joint Chiefs of Staff Committee General Sahir Shamshad Mirza at the Armed Forces Headquarters in Riyadh, as he arrives to attend the 8th round of the Pakistan-Saudi Joint Military Cooperation Committee (JMCC) meeting. (Photo courtesy: Handout/MOD)

The ISPR said Saudi military officials praised the professionalism of Pakistan’s armed forces and acknowledged their sacrifices in the fight against militancy.
Upon his arrival at the Armed Forces Headquarters in Saudi Arabia, General Mirza was given a Guard of Honor by a smartly turned-out military contingent, reflecting the strong defense ties between the two nations.

In this handout photo, released by the Saudi Ministry of Defense on February 14, 2025, Saudi and Pakistani military officials gesture for a group photograph following the 8th round of the Pakistan-Saudi Joint Military Cooperation Committee (JMCC) meeting at the Armed Forces Headquarters in Riyadh. (Photo courtesy: Handout/MOD)

 


Pakistan’s interior minister calls for global unity against militant violence in meeting with US envoy

Pakistan’s interior minister calls for global unity against militant violence in meeting with US envoy
Updated 15 February 2025
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Pakistan’s interior minister calls for global unity against militant violence in meeting with US envoy

Pakistan’s interior minister calls for global unity against militant violence in meeting with US envoy
  • Mohsin Naqvi expresses optimism that Pakistan-US ties will strengthen under President Donald Trump
  • His recent meetings with US lawmakers focused on combating militancy, strengthening bilateral ties

ISLAMABAD: Pakistan’s Interior Minister Mohsin Naqvi on Saturday described militant violence as an international challenge, calling for global solidarity to combat the threat during a meeting with US Chargé d’Affaires Natalie Baker.
Baker assumed the role at the US Embassy in Islamabad in January, following the departure of Ambassador Donald Blome. The position is a temporary appointment, with her responsibilities including engagement with Pakistani officials on bilateral issues until a new envoy is confirmed.
“Terrorism is an international issue, and the global community must work together to address it,” Naqvi said during the meeting.
He also recalled his recent official visit to the United States, which took place earlier this month. The trip focused on bilateral cooperation, counterterrorism strategies and security concerns.
“The meetings with US Congress members were extremely positive,” the minister said. “Discussions focused on developing a joint strategy to combat terrorism and further strengthening bilateral relations.”
Pakistan and the US have historically cooperated on counterterrorism efforts, with both sides benefiting from intelligence-sharing support.
More recently, the US has repeatedly expressed support for Pakistan’s security concerns, particularly as Islamabad blames rising militant violence on cross-border attacks from Afghanistan — an allegation denied by authorities in Kabul.
Naqvi expressed optimism that Pakistan-US relations would strengthen under President Donald Trump’s administration.
He also invited Baker to attend Islamabad’s upcoming spring festival celebrations.


Pakistan army says officer, three soldiers killed in anti-militant operations in northwest

Pakistan army says officer, three soldiers killed in anti-militant operations in northwest
Updated 15 February 2025
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Pakistan army says officer, three soldiers killed in anti-militant operations in northwest

Pakistan army says officer, three soldiers killed in anti-militant operations in northwest
  • Security forces killed 15 Pakistani Taliban in two separate operations in Dera Ismail Khan and North Waziristan
  • The militants were involved in numerous violet activities in the area and were wanted by law enforcement agencies

ISLAMABAD: An officer and three soldiers were killed on Saturday as security forces launched two separate operations against militants in Pakistan’s northwest, the military’s media wing, Inter-Services Public Relations (ISPR), said in a statement.
The intelligence-based operations took place in Hathala, Dera Ismail Khan District, and Miran Shah, North Waziristan District. Both the areas, along with the rest of Khyber Pakhtunkhwa province, have seen a surge in militant violence since the collapse of a fragile ceasefire agreement between the government and the banned Tehreek-e-Taliban Pakistan (TTP) in late 2022.
Pakistan brands TTP fighters as “khwarij,” a historical reference to an extremist sect in early Islam known for rebelling against authority, declaring other Muslims as apostates, and justifying their killing.
“An intelligence-based operation was conducted by the Security Forces in general area Hathala, Dera Ismail Khan District, on reported presence of Khwarij,” the ISPR said. “During the conduct of operation, own troops effectively engaged the khwarij location and resultantly, nine khwarij including Kharji ring leaders HVT [high-value targets] Farman [alias] Saqib, Kharji Amanullah [alias] Toori, Kharji Saeed [alias] Liaqat, and Kharji Bilal were sent to hell.”
The statement added all these militants were involved in numerous violet activities and were wanted by law enforcement agencies.
“In another operation conducted in general area Miran Shah, North Waziristan District, six khwarij were effectively neutralized by the security forces,” the statement continued.
“However, during intense fire exchange, Lt. Muhammad Hassaan Arshaf (age: 21 years, resident of District Lahore) leading his troops from the front, fought gallantly and embraced Shahadat along with his three men,” it added.
The military said sanitization operations were underway to clear any remaining militants, reiterating its determination to eliminate militancy from the region.
The Pakistani military has intensified operations against TTP hideouts, vowing to wipe out the group, which Islamabad accuses of carrying out cross-border attacks from Afghanistan. The Taliban-led government in Kabul, however, denies providing safe havens to Pakistani militants.


Pakistan Senate passes tougher laws to curb human smuggling, illegal migration

Pakistan Senate passes tougher laws to curb human smuggling, illegal migration
Updated 15 February 2025
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Pakistan Senate passes tougher laws to curb human smuggling, illegal migration

Pakistan Senate passes tougher laws to curb human smuggling, illegal migration
  • Hundreds of Pakistanis have lost lives in boat capsizing incidents since 2023, while trying to reach Europe
  • Despite intense crackdown leading to arrests, such tragedies continue, necessitating more stringent laws

KARACHI: Pakistan’s Senate on Friday approved amendments to three key laws aimed at combating human trafficking and illegal migration, following a series of deadly migrant boat tragedies that have claimed hundreds of lives.
The legislation— covering human trafficking, migrant smuggling and emigration— seeks to strengthen penalties for offenders, including those involved in smuggling young girls and trafficking beggars to Gulf states.
Pakistan has intensified its crackdown on human smugglers after multiple boat tragedies. In January, the Federal Investigation Agency (FIA) issued Interpol red notices for 20 suspected foreign-based traffickers, though migrant deaths continue as people attempt to cross treacherous waters on rickety boats to reach European shores.
The three bills, unanimously passed after clearance by the relevant Senate standing committees, aim to further strengthen the legal framework to tackle the crisis. The Prevention of Trafficking in Persons (Amendment) Bill expands the definition of trafficking to include organized begging, following concerns raised by Pakistan’s diplomatic missions in the Gulf Cooperation Council (GCC) states, Iraq and Malaysia.
“The agents and gangs who are involved in this practice easily dodge prosecution as beggary is not a crime in any law entrusted to FIA,” reads the statement of objects and reasons of the bill, which has amended multiple sections of a 2018 law to prevent human trafficking. “The sensitivity of issue demands urgent need of making beggary a crime.”
In the past, several Pakistanis reportedly traveled abroad for Hajj, Umrah or personal visits but engaged in begging, tarnishing the country’s image.
The bill also increases penalties for traffickers, raising prison sentences from a minimum of three years to up to 14 years for offenses involving women and children. Fines for trafficking crimes now range from Rs1 million ($3,581) to Rs2 million ($7,162).
Similarly, the Prevention of Smuggling of Migrants (Amendment) Bill stiffens penalties for offenders, increasing the maximum prison term from five years to 10 years and raising fines from Rs1 million to Rs10 million ($35,810).
It also targets individuals who harbor undocumented foreigners in Pakistan, increasing their prison term from three years to five years and doubling fines to Rs2 million.
The third approved bill revises the 1979 Emigration Ordinance to eliminate leniency for human smugglers. Courts will no longer have the discretion to impose only fines on those found guilty, making jail sentences mandatory for offenders.
“To curb the menace of unlawful emigration and create deterrence among perpetrators and prevent repetition of offenses, it is inevitable to amend the Court’s discretion, which currently has the option to award either imprisonment or a fine,” the bill said.
The three bills come at a time when two migrant boat tragedies involving dozens of Pakistanis — one near Morocco and the other off the coast of Libya — have been reported since the beginning of the year. Prior to these incidents, an overcrowded vessel carrying over 250 Pakistanis capsized in June 2023 near Greece.
There has also been a rise in deportations of Pakistanis from Gulf nations. In November 2024, authorities added 4,300 individuals involved in organized begging to the Exit Control List (ECL).
According to official statements, hundreds of Pakistanis have been deported in recent months due to visa irregularities, insufficient travel funds, procedural lapses and involvement in crimes or begging.


Pakistan president says no need for world to fear China’s rise

Pakistan president says no need for world to fear China’s rise
Updated 15 February 2025
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Pakistan president says no need for world to fear China’s rise

Pakistan president says no need for world to fear China’s rise
  • President Asif Ali Zardari’s statement dispels the notion that China’s ambitious foreign infrastructure push has saddled poor nations with ‘hidden debt’
  • China is a major ally and investor in Pakistan that has pledged over $65 billion in investment in road, infrastructure and development projects under CPEC

ISLAMABAD: Pakistan President Asif Ali Zardari has praised China’s remarkable growth and called it a positive development, saying there is no need for the world to fear it.
Zardari, who visited China on a five-day visit earlier this month, said this during an interview with Chinese broadcaster CCTV that was shared on YouTube on Saturday.
The statement dispelled the notion that China’s ambitious foreign infrastructure push has saddled poor nations with “hidden debt” worth hundreds of billions of dollars, which has raised concerns among some regional and global powers that Beijing’s growing naval presence, together with its so-called “debt-trap” diplomacy, could provide it significant advantages far from its shores.
China is a major ally and investor in Pakistan that has pledged over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC), a part of the Belt and Road Initiative that is a massive China-led infrastructure project that aims to stretch around the globe.
“China has never been an occupier,” President Zardari said, when asked about China’s modernization and why he was not afraid of the development that might be threatening to some other countries.
“Why am I not? Because, A, I’m your neighbor, and I’ve been your neighbor since centuries. So why should one neighbor, which knows that the Chinese are not the kind who want to interfere in other countries, be scared. And I would never be scared of China.”
Since the launch of President Xi Jinping’s Belt and Road Initiative (BRI) investment drive, Beijing has invested hundreds of billions of dollars to build roads, bridges, ports and hospitals in some 163 nations, including many countries across Africa and Central Asia, according to a study by AidData, an international development research lab.
Nearly 70 percent of this money has been lent under opaque deals to state banks or joint ventures between Chinese businesses and local partners in countries that were already deeply indebted to Beijing.
But China and Pakistan enjoy a close strategic partnership, with the latter’s location on the Arabian Sea providing Beijing an overland route toward the Gulf of Aden and onto the Suez Canal, and enabling Chinese ships to avoid the potential chokepoint of the Malacca Strait.
President Zardari, who discussed CPEC’s acceleration, cooperation in science and technology, renewable energy and other sectors during his visit to China this month, termed Beijing’s development program a “good thing.”
“The world can’t compete [with China]. It’s all about new technologies, the rise of China, which is a good thing,” he told the Chinese broadcaster.
“Pakistan is a very independent country. We have our independent role, but at the same time, we will look toward China and go along with China first.”