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World Bank approves $350 million for Pakistan’s fiscal strengthening, economic competitiveness

World Bank approves $350 million for Pakistan’s fiscal strengthening, economic competitiveness
A man walks past the World Bank building in Washington, DC on April 21, 2022. (AFP/File)
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Updated 20 December 2023
Khurshid Ahmed
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World Bank approves $350 million for Pakistan’s fiscal strengthening, economic competitiveness

World Bank approves $350 million for Pakistan’s fiscal strengthening, economic competitiveness
  • The financing under the RISE-II operations will enhance debt transparency and make power sector more viable
  • World Bank officials say Pakistan must tackle longstanding structural distortions in economy after national polls
Updated 20 December 2023
Khurshid Ahmed
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KARACHI: The World Bank’s Board of Executive Directors has approved $350 million in financing for Pakistan under an initiative to strengthen fiscal management and promote competitiveness for sustained and inclusive economic growth in the country, said its statement on Wednesday.
The Second Resilient Institutions for Sustainable Economy (RISE-II) Operation was launched in December 2022 and followed the first program in the series, RISE-I, which began two years before that.
Speaking at the occasion, a top World Bank official emphasized the need for Pakistan to carry out comprehensive reforms for improved economic progress.
“Pakistan needs urgent fiscal and structural reforms to restore macroeconomic balance and lay the foundations for sustainable growth,” Najy Benhassine, the bank’s country director for Pakistan, said. “RISE-II completes a first phase of tax, energy and business climate reforms geared to raising additional revenues, improve the targeting of expenditures and stimulate competition and investment.”
According to the World Bank statement, the RISE-II operation contributes to better fiscal management by improving fiscal policy coordination, enhancing debt transparency and management, strengthening the taxation of property and improving the financial viability of the power sector.
The operation also aims to foster growth and competitiveness by reducing the cost of tax compliance, improving financial sector transparency, encouraging the use of digital payments, and promoting exports by lowering import tariffs.
“Based on the foundations laid through RISE-II and parallel support by other IFIs [international financial institutions], Pakistan has the opportunity to tackle long-standing structural distortions in its economy after the upcoming general elections,” Derek H. C. Chen, task team leader of the operation, said. “Failing to use this opportunity would risk plunging the country back into stop and go economic cycles.”
Pakistan and the World Bank have had significant and multifaceted engagements spanning over decades, focusing on various development challenges and strategic priorities.
The bank has also launched a series of policy notes in recent years as part of its engagement and outreach program to contribute to the public dialogue on reforms needed for a brighter economic future for the country.

Topics: World Bank Second Resilient Institutions for Sustainable Economy loan Pakistan economy

Traditional Saudi stall steals spotlight at Pakistani Foreign Office charity event in Islamabad

Traditional Saudi stall steals spotlight at Pakistani Foreign Office charity event in Islamabad
Updated 01 December 2024
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Traditional Saudi stall steals spotlight at Pakistani Foreign Office charity event in Islamabad

Traditional Saudi stall steals spotlight at Pakistani Foreign Office charity event in Islamabad
  • A charity bazaar was organized to raise funds for families of low-income staff of the Pakistani foreign ministry
  • Embassies of different countries showcased their cultural performances, costumes, music, art and food at the event
Updated 01 December 2024
SAIMA SHABBIR

ISLAMABAD: Saudi Arabia’s stall, comprising a traditional Bedouin tent with the rich aroma of ‘gahwa’ and the sweetness of dates, on Sunday stole the spotlight at the Pakistan Foreign Office Women’s Association (PFOWA) charity bazaar, which showcased a vibrant tapestry of cultural performances, traditional costumes, music, art and food from various embassies and missions in Pakistan.
Pakistan’s deputy prime minister and foreign minister, Ishaq Dar, inaugurated the bazaar at the Ministry of Foreign Affairs (MoFA) on Sunday. The event featured stalls from various countries as well as from Pakistani small and medium enterprises to raise funds for low-income MoFA staff.

Pakistan Deputy Prime Minister Ishaq Dar inaugurates Annual Charity Bazaar 2024, organized by Pakistan Foreign Office Women’s Association, in Islamabad on December 1, 2024. (Photo courtesy: MOFA)

At the entrance of the bazaar, the very first stall was set up by the Embassy of Saudi Arabia that featured a traditional Bedouin tent where visitors were welcomed with dates and gahwa, a traditional Arabic coffee.
“It is a very welcoming gesture by the Saudi embassy as they introduced us to the true taste of Saudi coffee which is very unique,” Tayyaba Aleem, a visitor, told Arab News, adding the traditional setting of the tent added an authentic cultural touch and made it a special experience.

Participants serve Saudi dates and gahwa to visitors at the Pakistan Foreign Office Women’s Association charity bazaar in Islamabad on December 1, 2024. (AN Photo)

In his inaugural address, Dar said the event offered a unique opportunity for people to visit the Pakistani Foreign Office, and experience rich cultures of various countries through their food and handicrafts, and to contribute to a charitable cause.
“Today’s bazaar is a captivating blend of diverse cultures and the variety of experiences fostering harmony and fraternity among different nations,” he said, adding that from the kind support and donations to setting up stalls showcasing traditional outfits, apparel, artifacts and a variety of delights, the event was a collective celebration of diversity and inclusion.

This photo shows general views of Palestinian stall at the Pakistan Foreign Office Women’s Association charity bazaar in Islamabad on December 1, 2024. (AN Photo)

“I am extremely grateful to the diplomatic missions in Islamabad and their contributions in this colorful event.”
Diplomats described the experience as a valuable opportunity to showcase their country’s cultural heritage, while learning about the traditions of others.

This photo shows general views of the UAE stall at the Pakistan Foreign Office Women’s Association charity bazaar in Islamabad on December 1, 2024. (AN Photo)

“It is a multilateral event and it brought a lot of things in for the participants, and for the visitors,” Muhammad Motahar Al-Ashabi, the ambassador of Yemen to Pakistan, told Arab News.
He said the Yemeni stall showcased pictures of his country’s rich heritage, including its architecture, culture and food.
“This display is a symbolic participation, but we have received a very good response from the visitors,” the ambassador added.

This photo shows general views of Yemeni stall at the Pakistan Foreign Office Women’s Association charity bazaar in Islamabad on December 1, 2024. (AN Photo)

Turkish Ambassador to Pakistan Irfan Neziroglu commended the PFOWA for providing a “wonderful opportunity” to engage with other diplomats and Pakistani people through the event.
“We brought a variety of authentic products, mostly from Turkiye, including traditional food, and received many visitors at our stall,” he told Arab News.
“We also visited the stalls of other embassies and a kind of cultural richness we see here, not only different countries, but also the richness of Pakistan, from different parts of the country.”

This photo shows general views of Turkish stall at the Pakistan Foreign Office Women’s Association charity bazaar in Islamabad on December 1, 2024. (AN Photo)

Basma Al-Masharqa, a Palestinian woman residing in Islamabad, also set up a stall, featuring traditional Palestinian cuisine.
“I prepare Palestinian food and all is handmade in my home,” she told Arab News. “For small businesses like us, it is so nice because many people, they are coming here and they see our work.”

Basma Al-Masharqa (1L), a Palestinian woman residing in Islamabad, gestures at her food stall setup at the Pakistan Foreign Office Women’s Association charity bazaar in Islamabad on December 1, 2024. (AN Photo)

She said such events should be organized more frequently to help home-based businesses in the Pakistani capital.
“My mother used to cook this food and we are trying to bring our traditional culture to the Pakistani market,” Basma’s daughter, Maryam, told Arab News, saying it was a “great place” to present the Arabic food as it brought together diverse communities.

Visitors writing messages in solidarity with Gaza at the Palestinian stall at the Pakistan Foreign Office Women’s Association charity bazaar in Islamabad on December 1, 2024. (AN Photo)

Amina Amir from Algeria praised the diversity of cultures presented at the event, hoping that Algeria would also participate next year to showcase her country’s rich heritage.
“As the largest country in Africa, we have diverse traditions and cultures that we would love to present,” she said. “It is a very good initiative as this is my second time attending this bazaar as I like to see the variety of different cultures and different countries.”

Topics: Pakistan Palestine Pakistan Foreign Ministry Ishaq Dar

Army captain among two soldiers, eight militants killed in northwest Pakistan

Army captain among two soldiers, eight militants killed in northwest Pakistan
Updated 01 December 2024
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Army captain among two soldiers, eight militants killed in northwest Pakistan

Army captain among two soldiers, eight militants killed in northwest Pakistan
  • The deaths occurred in separate operations in Khyber Pakhtunkhwa, which borders Afghanistan
  • Pakistan blames the surge in militancy on militants operating out of Afghanistan, Kabul denies it
Updated 01 December 2024
Arab News Pakistan

ISLAMABAD: An army captain among two Pakistani soldiers and eight militants were killed in two separate operations in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, the Pakistani military said on Sunday.
Five militants were killed and nine others sustained injuries in an intelligence-based operation in KP’s Bannu district, while a Pakistani soldier died during the gunfight, according to the Inter-Services Public Relations (ISPR), the military’s media wing.
In another operation in the Khyber district, three militants were killed, while two others were apprehended by the security forces. The exchange of fire also killed Captain Muhammad Zohaib Ud Din, who was leading the troops.
“Sanitization operations are being conducted to eliminate any other kharji [militant] found in the area,” the ISPR said in a statement.
“Security forces of Pakistan are determined to wipe out the menace of terrorism from the country and such sacrifices of our brave soldiers further strengthen our resolve.”
Khyber Pakhtunkhwa, which borders Afghanistan, has witnessed a number of attacks by the Tehreek-e-Taliban Pakistan (TTP) and other militant groups that targeted security forces convoys and check posts, besides targeted killings and kidnappings of law enforcers and government officials in recent months.
Last month, Pakistani security forces killed four militants in two separate encounters in KP’s North Waziristan district, according to the Pakistani military. In October, nine militants were killed in an overnight raid in the Bajaur tribal district.
Pakistan has frequently accused neighboring Afghanistan of sheltering and supporting militant groups, urging the Taliban administration in Kabul to prevent its territory from being used by armed factions to launch cross-border attacks.
Afghan officials, however, deny involvement, insisting Pakistan’s security issues are an internal matter of Islamabad.

Pakistan says will hold social media propagandists accountable over ‘fake’ protest deaths

Pakistan says will hold social media propagandists accountable over ‘fake’ protest deaths
Updated 01 December 2024
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Pakistan says will hold social media propagandists accountable over ‘fake’ protest deaths

Pakistan says will hold social media propagandists accountable over ‘fake’ protest deaths
  • Statement comes days after ex-PM Imran Khan’s party led supporters to Islamabad, resulting in clashes with law enforcers
  • Government denies PTI’s account of casualties, says social media propagandists are bent upon creating divisions in country
Updated 01 December 2024
KASHIF IMRAN

ISLAMABAD: Pakistan’s government on Sunday said it would hold social media users accountable for propagating “fake” deaths during anti-government protests by former prime minister Imran Khan’s party in Islamabad, reiterating that law enforcers deployed to disperse violent protesters did not have live ammunition.
Khan’s Pakistan Tehreek-e-Insaf (PTI) party this week led thousands of supporters to Islamabad, seeking to pressure the government to release the ex-premier from jail. The protests resulted in clashes that Pakistan’s government says killed three paramilitary soldiers and a police officer, and injured hundreds of others. The PTI has named 12 people and says it has evidence they lost their lives during the crackdown, however, several PTI members have given varied accounts of casualties during the protests. Pakistani authorities deny the claims.
On Sunday, the Pakistani interior ministry said violent protesters “aggressively engaged LEAs repeatedly using fire arms and all sorts of other weaponry including steel sling shots, stun grenades, tear gas shells and nail studded batons” throughout the protest march from Peshawar to Islamabad. It said police and Rangers were employed without live ammunition to disperse the violent mobs, while army, deployed under Article 245 of the constitution to secure key government installations and foreign diplomats in the Red Zone, neither came in direct clash with the protesters, nor was it employed for riot control.
“Unfortunately, social media accounts of PTI resorted to planned and coordinated massive fake propaganda of deaths caused by LEAs (law enforcement agencies) so as to divert attention from this senseless, violent and failed activity. There have been multiple false claims of deaths ranging from tens to hundreds to thousands on social media as well as PTI political leadership and their official pages,” the interior ministry said in a statement.
“PTI and its social media propagandists are bent upon to create divisions and confusion within the society. Such elements, whether inside the country or abroad, will surely be held accountable under relevant laws and no one will be allowed to sow divisions, hatred and propagating fake news.”
It said major hospitals in Islamabad rubbished reports of alleged gunshot casualties inflicted by the LEAs after due diligence, but a “sustained fabricated social media campaign,” using old and AI-generated clips, was undertaken by the PTI.
Government functionaries, including ministers as well as Islamabad chief commissioner and senior police officials who were directly involved in these riot control operations, repeatedly explained and clarified the actual situation and events unfolding with credible evidence, according to the ministry.
“It may also be noted that use of lethal means by LEAs, if at all to be employed, was best suited at multiple enroute blocks rather than within Red Zone under complete media and public glare,” it said.
Khan’s PTI has staged several protests this year to demand the release of the ex-premier, who has been in jail since August last year on a slew of charges, as well as to challenge results of the Feb. 8 national election, which it says were manipulated to keep the party from coming to power in the country. The Pakistani government and election authorities deny this.
This week’s protest was by far the largest to grip the capital since the poll and the Pakistani government said it caused Rs192 billion per day indirect losses to the economy.
“It is concerning to note that 39 lethal weapons including 18 automatic weapons have been recovered from the violent protesters and that among the apprehended offenders there are more than three dozen paid aliens,” the interior ministry added.

Topics: Pakistan Tehreek-e-Insaf (PTI) party Imran Khan Islamabad Protest PTI protest

Pakistan national airline hopes to resume Europe flights soon after regulator lifts ban

Pakistan national airline hopes to resume Europe flights soon after regulator lifts ban
Updated 01 December 2024
Reuters
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Pakistan national airline hopes to resume Europe flights soon after regulator lifts ban

Pakistan national airline hopes to resume Europe flights soon after regulator lifts ban
  • The European Union Aviation Safety Agency suspended PIA’s authorization to operate in the EU in June 2020
  • The move came after Pakistan began investigating the validity of pilots’ licenses following a deadly plane crash
Updated 01 December 2024
Reuters

KARACHI: Pakistan International Airlines (PIA) said on Sunday it expects to resume European routes soon and is eyeing several UK destinations after the EU aviation regulator lifted its bar on the flag carrier.
The European Union Aviation Safety Agency (EASA) suspended PIA’s authorization to operate in the EU in June 2020 over concerns about the ability of Pakistani authorities and its Civil Aviation Authority (PCAA) to ensure compliance with international aviation standards.
“PIA plans to approach the UK’s Department for Transport (DfT) for UK route resumption, as EASA clearance is a prerequisite for their decision,” PIA spokesman Abdullah Hafeez Khan told Reuters.
EASA and UK authorities suspended permission for PIA to operate in the region after Pakistan began investigating the validity of pilots’ licenses following a deadly plane crash that killed 97 people.
Khan said the airline expects to resume flights to Europe, starting with Paris, within the next three to four weeks.
Once PIA gets approval for UK flights, Khan said London, Manchester, and Birmingham would be the most sought-after destinations.
PIA and the government, which is aiming to sell a 60 percent stake in the carrier, had urged EASA to lift the ban, even provisionally. The ban cost the airline 40 billion rupees ($144 million) annually in revenue.
Khan said the company has sufficient cash flow to add new routes. Decisions on leasing new aircraft will be made after the government finalizes privatization discussions, he said.
The loss-making national carrier has a 23 percent stake in Pakistan’s domestic aviation market, but its 34-plane fleet can’t compete with Middle Eastern carriers which hold a 60 percent market share, due to a lack of direct flights, despite having agreements with 87 countries and key landing slots.
The government’s attempt to privatise the airline fell flat when it received only a single offer, well below its asking price.
“With Europe now, and upcoming UK routes, we anticipate increased revenue potential and hence a rise in PIA’s value during the privatization process,” Khan said.

Topics: Pakistan International Airlines (PIA)

Death toll in Pakistan sectarian clashes now over 130, official says

Death toll in Pakistan sectarian clashes now over 130, official says
Updated 01 December 2024
Reuters
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Death toll in Pakistan sectarian clashes now over 130, official says

Death toll in Pakistan sectarian clashes now over 130, official says
  • Kurram, near border with Afghanistan, has been a flashpoint for sectarian tensions for decades
  • Pakistani government mediated seven-day ceasefire deal between the rival groups last Sunday
Updated 01 December 2024
Reuters

PESHAWAR: Deadly sectarian clashes have continued in Pakistan's northwestern Kurram district in spite of a tentative ceasefire struck late last week, local officials said, with the death toll now over 130 as authorities try to broker a solution.
Kurram, near the border with Afghanistan, has been a flashpoint for sectarian tensions for decades. They spilled over into a fresh wave of attacks last month when clashes between Sunnis and Shias left dozens dead.
District administration official Wajid Hussain said 133 people had been killed in the attacks in the last week and a half.
"The district administration and other relevant authorities have initiated efforts to stop fighting between the two communities but there is no breakthrough yet," he said.
A Pakistani government team mediated a seven-day ceasefire deal between the rival groups last Sunday. Armed Shia and Sunni Muslims have engaged in tribal and sectarian rivalry for decades over land and other local disputes in Kurram.
Provincial authorities put the death toll at 97, with 43 people killed in the initial attack when gunmen opened fire on mostly Shia drivers and the rest killed in retaliatory clashes.
Chief Minister for Khyber Pakhtunkhwa province Ali Amin Khan Gandapur visited the area on Saturday for a large gathering of tribal elders and leaders.
"Anyone who takes up arms will be treated as a terrorist, and their fate will be that of a terrorist," said Gandapur according to a statement from his office late on Saturday, adding that security forces would remain in the area.
Residents and officials said the main highway connecting Kurram's main city of Parachinar to the provincial capital Peshawar was blocked, which had created challenges transferring wounded people to hospitals.
"Our medical team is working around the clock to perform surgeries due to the challenges in referring patients to larger hospitals in Peshawar and elsewhere," said Dr Syed Mir Hassan, from Parachinar's district hospital.
He added that they were currently treating around 100 wounded patients and had received 50 bodies during the violence.

Topics: Kurram Agency kurram district

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