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Pakistan developing new safety guidelines for diplomat travel following Swat convoy attack

Pakistan developing new safety guidelines for diplomat travel following Swat convoy attack
This photo shows a police vehicle, part of a convoy of foreign diplomats visiting Pakistan’s northwest, targeted in a roadside bombing at Malam Jabba in the Swat district of Khyber Pakhtunkhwa province on September 22, 2024. A Pakistan policeman was killed and three others injured after a roadside bomb hit a convoy of foreign diplomats in the northwest, police said on September 22. (Photo courtesy: Swat District administration)
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Updated 9 min 38 sec ago
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Pakistan developing new safety guidelines for diplomat travel following Swat convoy attack

Pakistan developing new safety guidelines for diplomat travel following Swat convoy attack
  • One policeman was killed, three others injured in an explosion targeting foreign diplomats over the weekend
  • Visit was organized by the Islamabad Chamber of Commerce and Industry without informing the foreign office
Updated 9 min 38 sec ago
SAIMA SHABBIR
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ISLAMABAD: Pakistan’s foreign office said on Thursday the country is developing new travel guidelines for foreign diplomats to ensure their safety, following a recent attack on a convoy of representatives from various countries in northwestern Khyber Pakhtunkhwa province.
At least one policeman was killed, and three others were injured in Malam Jabba, a tourist resort in Swat, during a roadside bomb attack targeting foreign diplomats over the weekend. Police said most of the envoys were from Central Asian and European countries and were visiting scenic spots when the incident occurred.
All diplomats remained unharmed and returned safely to Islamabad, though the attack prompted the Khyber Pakhtunkhwa provincial administration to form a fact-finding committee to investigate the incident.
“We are developing guidelines to ensure that such incidents do not happen again,” foreign office spokesperson Mumtaz Zahra Baloch told reporters during her weekly media briefing in Islamabad.
“We are in the process of discussions and internal deliberations on how to implement these measures, how to rectify what has happened, and how to fix things for the future,” she added.
The spokesperson said the government had condemned the incident, noting that the foreign diplomats’ trip had been organized by the Islamabad Chamber of Commerce and Industry (ICCI) without prior consent from the ministry.
“We have taken serious note of the lapses made by the concerned individuals, including their failure to inform the Ministry of Foreign Affairs about organizing such a visit,” she continued.
Baloch said Deputy Prime Minister Ishaq Dar had met with the envoys and assured them that Pakistan would fully investigate the incident and implement procedures to ensure their safety.
Some envoys had informed the Khyber Pakhtunkhwa administration of their travel as a standard procedure, she added.
Baloch expressed Pakistan’s commitment to ensuring that foreign diplomats’ stay in the country is as comfortable and secure as possible.
“We encourage foreign diplomats to explore Pakistan and follow the guidelines that have been shared with them on several occasions regarding their travel to any part of Pakistan,” she added.
Pakistan has seen a rise in militant attacks, particularly in its two western provinces, including Khyber Pakhtunkhwa.
Swat, known for its scenic beauty and historical sites, attracts many tourists, though it briefly fell under Taliban control in 2007 and witnessed extremist violence and the destruction of girls’ schools before a military campaign was launched to secure the area in 2009.
Pakistani security forces have also intensified intelligence-based operations against armed factions in Khyber Pakhtunkhwa in recent months to curb militant violence and deal with the rising threat in the region.

Topics: Malam Jabba Pakistan diplomatic relations foreign diplomats Diplomats in Pakistan

Pakistan braces for ‘transitional pain’ as IMF approves $7 billion loan

Pakistan braces for ‘transitional pain’ as IMF approves $7 billion loan
Updated 26 September 2024
AFP
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Pakistan braces for ‘transitional pain’ as IMF approves $7 billion loan

Pakistan braces for ‘transitional pain’ as IMF approves $7 billion loan
  • Finance minister says Pakistan must carry out structural reforms to make the new loan its last IMF package
  • Pakistan’s stock exchange opened on a positive note on Thursday, reaching a new record high of 82,905
Updated 26 September 2024
AFP

ISLAMABAD: Pakistan said Thursday it would have to go through “transitional pain” after the International Monetary Fund agreed to a new relief package of $7 billion to bolster its faltering economy.
Although the South Asian nation’s economy has stabilized since it came close to defaulting last summer, it is dependent on IMF bailouts and loans from friendly countries to service its huge debt, which swallows up half of its annual revenues.
“There will be transitional pain, but if we are to make it the last program, then we have to carry out structural reforms,” Minister of Finance Muhammad Aurangzeb told local broadcaster Geo News.
The three-year loan program “will require sound policies and reforms” to support Pakistan’s ongoing efforts to strengthen its economy “and create conditions for a stronger, more inclusive, and resilient growth,” the IMF said in an earlier statement.
Pakistan in July agreed to the deal – its 24th IMF payout since 1958 – in exchange for unpopular reforms, including cutting back on power subsidies and widening its chronically low tax base.
Speaking on the sidelines of the United Nations General Assembly in New York on Wednesday, Prime Minister Shehbaz Sharif said the deal came through thanks to the “tremendous support” of Saudi Arabia, China and the UAE.
“In the final phase (of negotiations), the IMF’s conditions were related to China. The way the Chinese government supported and strengthened us during this time is something I am truly grateful for,” he told reporters shortly before the deal was announced.
Last month, Aurangzeb had said Pakistan was negotiating a $12 billion loan reprofiling from bilateral lenders.
The amount comprised $5 billion from Saudi Arabia, $4 billion from China and $3 billion from the UAE for a three- to five-year period.
Reacting to the news, Pakistan’s stock exchange opened on a positive note, reaching a new record high of 82,905.
At the end of 2023, Pakistan – long locked in a cycle of political and economic crises – had amassed a total debt of more than $250 billion, or 74 percent of GDP, according to the IMF.
About 40 percent of its debt is owed to external creditors in foreign currencies. Its biggest single foreign creditor is China and Chinese commercial banks, at just under $30 billion, followed by the World Bank at more than $20 billion, according to the report.
Pakistan last year came to the brink of default as the economy shriveled amid political chaos following catastrophic 2022 monsoon floods and decades of mismanagement, as well as a global economic downturn.
It was saved by last-minute loans from friendly countries as well as an IMF rescue package, but its finances remain in dire straits, with high inflation and staggering public debts.
Islamabad wrangled for months with IMF officials to unlock the new loan.
It came on the condition of far-reaching reforms including hiking household bills to remedy a permanently crisis-stricken energy sector and raising pitiful tax takings.
In a nation of more than 240 million people where most jobs are in the informal sector, only 5.2 million filed income tax returns in 2022.
The IMF said Pakistan “has taken key steps to restoring economic stability with consistent reforms.” But “despite this progress, Pakistan’s vulnerabilities and structural challenges remain formidable,” it warned.
“A difficult business environment, weak governance, and an outsized role of the state hinder investment, which remains very low compared to peers,” it added.

Topics: Pakistan economy Pakistan IMF Talks

Pakistani forces kill eight militants in intelligence-based operation in North Waziristan

Pakistani forces kill eight militants in intelligence-based operation in North Waziristan
Updated 26 September 2024
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Pakistani forces kill eight militants in intelligence-based operation in North Waziristan

Pakistani forces kill eight militants in intelligence-based operation in North Waziristan
  • The militants were involved in violent attacks against security forces and target killings of civilians
  • PM Sharif praises the security forces for successfully carrying out the operation in the restive area
Updated 26 September 2024
Arab News Pakistan

ISLAMABAD: Pakistani security forces killed eight militants in the northwestern part of the country during an intelligence-based operation (IBO), the military’s media wing, Inter-Services Public Relations (ISPR), said on Thursday.
The operation took place in Razmak, a settlement in North Waziristan district bordering Afghanistan, an area that has seen a surge in militant activity in recent years.
Pakistan has increasingly blamed the growing militant presence in Afghanistan for the spike in attacks in its western provinces.
Islamabad has urged the Kabul administration not to allow Afghan soil to be used by armed factions against other countries, accusing the Taliban regime of “facilitating” these attacks. However, Kabul denies the allegations, asserting Pakistan’s security deficit is its internal matter.
“On the night 25/26 Sep 2024, security forces conducted an intelligence based operation in general area Razmak, North Waziristan District, on the reported presence of Khwarij [militants],” the ISPR said.
“During conduct of the operation, intense fire exchange took place between own troops and khwarij, as a result of which, eight Khwarij were sent to hell,” it added.
The ISPR informed weapons and ammunition were recovered from the militants, who were actively involved in violent activities against security forces along with target killings of innocent civilians.
Prime Minister Shehbaz Sharif also praised the security forces for carrying out the successful operation, saying the country would soon witness the end of militancy.
“It is our top priority to protect the life and property of all citizens from terrorists,” he was quoted as saying in a statement circulated by his office in Islamabad.
“We will continue to fight terrorists until it is completely eradicated from the country,” he added.

Pakistan president stresses secure shipping environment on World Maritime Day

Pakistan president stresses secure shipping environment on World Maritime Day
Updated 26 September 2024
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Pakistan president stresses secure shipping environment on World Maritime Day

Pakistan president stresses secure shipping environment on World Maritime Day
  • Asif Ali Zardari calls maritime sector backbone of global economy, seeks uninterrupted flow of trade
  • He says Pakistan is actively working to tackle marine pollution and issues related to climate change
Updated 26 September 2024
Arab News Pakistan

ISLAMABAD: President Asif Ali Zardari on Thursday highlighted the need for a secure shipping environment in a message marking World Maritime Day, while reaffirming the government’s commitment to protecting the country’s maritime ecosystem.
Earlier this month, Pakistan hosted UN maritime chief Arsenio Antonio Dominguez Velasco, who attended an international conference and emphasized the country’s expanding role in the global maritime sector and commitment to sustainable shipping.
Pakistan is also actively enhancing its trade through sea routes and upgrading port infrastructure in Karachi and Gwadar, aiming to position itself as a key transit hub for landlocked Central Asian countries like Tajikistan, Uzbekistan, and Kazakhstan.
World Maritime Day, instituted by the International Maritime Organization in 1978, highlights the importance of international shipping and maritime safety each year.
“The maritime sector serves as the backbone of global trade, playing a key role in economic growth, creating employment opportunities, and facilitating international cooperation,” the Pakistani president said in a statement circulated by his office.
“The day highlights the need for a more efficient and secure shipping environment to ensure the uninterrupted flow of international maritime trade,” he continued.
Zardari expressed Pakistan’s resolve to protect its maritime ecosystem and coastal areas by addressing key challenges such as marine pollution and climate change.
“Pakistan is actively working to strengthen its regulatory framework to tackle marine pollution, improve maritime waste management, and expand community-driven projects,” he added.
Pakistan is an active member of the International Maritime Organization and has signed various conventions related to safe and environmentally sound recycling of ships.
It has also collaborated in this area with international organizations to mitigate the environmental damage faced by the maritime ecosystem.

Topics: President Asif Ali Zardari martime

Pakistan to spend $2 billion on cotton imports amid low production

Pakistan to spend $2 billion on cotton imports amid low production
Updated 26 September 2024
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Pakistan to spend $2 billion on cotton imports amid low production

Pakistan to spend $2 billion on cotton imports amid low production
  • Industry stakeholders expect a shortfall of four million bales due to heatwave, excessive rains this year
  • Pakistan does not have a single cotton variety that can survive above 43 degrees Celsius with good yield
Updated 26 September 2024
Aamir Saeed

ISLAMABAD: Pakistan’s industry is poised to spend over $2 billion this fiscal year on cotton imports to fulfill domestic needs and export textile products, as the crop yield is expected to register a shortfall of around four million bales, an industry stakeholder said on Wednesday.
Cotton is considered the backbone of the national economy, serving as the main raw material for the textile sector, which contributes about 60 percent to the overall exports of the South Asian nation. The cotton industry employs around 15 million people, and the country’s textile and apparel exports were recorded at $16.65 billion during the last fiscal year.
Speaking to Arab News, Zakirullah Khalidi, general secretary of the Pakistan Cotton Ginners’ Association, said cotton bale arrivals in the market had so far registered a reduction of around 63 percent compared to the previous year.
He added that this owed to a heatwave and excessive rains during the cotton-growing period from April to September.
“The industry will have to import cotton worth over $2 billion this fiscal year to fulfill its domestic and export needs,” he said.
Khalidi informed the cotton arrival data would be compiled until April next year, but estimates suggest the production will be around seven million bales, a reduction of at least four million bales from the eleven million bales targeted for this year.
“This is going to be a huge economic loss for the industry and the country as well,” he said, attributing the reduction in yield to climate change.
The industry primarily imports cotton raw material from the United States, Afghanistan and Uzbekistan to address the shortage and meet export orders. Most of Pakistan’s cotton is grown in the southern part of Punjab province, while the rest comes from Sindh province.
Sajid Mahmood, head of the transfer of technology department at the government-run Central Cotton Research Institute in Multan, said the ideal temperature for cotton fruiting and growth in Pakistan is around 35-40 degrees Celsius, but this year, temperatures rose to 48 degrees Celsius for a prolonged period in the cotton-growing regions.
“Pakistan doesn’t have a single cotton variety that can survive with good yield above 43 degrees Celsius,” he told Arab News, adding the institute has produced a new seed variety known as CYTO547 that can withstand temperatures above 48 degrees Celsius, though it is still in the trial phase.
Mahmood said erratic weather patterns during the cotton growing season had provided a suitable breeding ground for various pests, which are expected to damage over 1.5 million bales of the crop.
“Farmers are also switching to other cash crops as cotton is no longer profitable,” he said. “Therefore, the cultivation area has also reduced significantly.”
In Punjab alone, the cotton sowing area shrank from 4.4 million acres to 3.2 million acres this year, as farmers switched to sesame, sugarcane and paddy crops for better profits, he said.
“The sesame crop area has increased from 0.8 million acres last year to 1.7 million acres this year, as it is now considered a cash crop in the southern parts of Punjab,” he said.
Babar Bilal, a cotton grower in Rahim Yar Khan, said cotton yields have declined significantly in the last couple of years due to erratic weather patterns, pests and low-quality seeds.
“Farmers are switching to other crops like paddy and sesame to earn better profits as cotton is no longer a cash crop for the growers,” he told Arab News.

Topics: Pakistan Cotton Crop

IMF executive board approves $7 billion loan program for Pakistan

IMF executive board approves $7 billion loan program for Pakistan
Updated 26 September 2024
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IMF executive board approves $7 billion loan program for Pakistan

IMF executive board approves $7 billion loan program for Pakistan
  • Pakistani PM welcomes deal, thanks Saudi Arabia, UAE, China for continued support to get loan package
  • Economists say the program will strengthen macroeconomic stability, help in talks with other financial agencies
Updated 26 September 2024
Aamir Saeed

ISLAMABAD: Prime Minister Shehbaz Sharif welcomed the International Monetary Fund’s (IMF) decision to approve a $7 billion loan program for the country, his office said on Wednesday.
The IMF has approved the bailout package for Pakistan after the South Asian nation agreed to strengthen fiscal and monetary policy and implement reforms to broaden the tax base, secure a level playing field for investment and enhance human capital.
In July, the Fund reached a staff-level agreement on economic policies with Pakistan for 37-month Extended Fund Facility (EFF) of about $7 billion. The IMF executive board has now approved the 25th loan program that Pakistan has obtained since 1958.
 “We will continue to struggle to achieve economic progress targets,” the prime minister said while expressing satisfaction over approval of the IMF loan package.
“If this hard work continues, this will be Pakistan’s last IMF program,” he continued while thanking the friendly countries including Saudi Arabia, China and the United Arab Emirates for their support to get the program.
Economists have termed the loan approval a positive development that would help boost investors’ confidence and make it possible for the government to tap international markets for the commercial borrowing.
Dr. Khaqan Hassan Najeeb, senior economist and former adviser to the government, said Pakistan’s engagement with the IMF could strengthen the nascent macroeconomic stability.
“It will ensure the $26 billion, Pakistan’s gross financing needs are fully met and can bring the other lenders, commercial banks, bilateral and multilateral partners on board,” he told Arab News.
“More importantly, it buys Pakistan time and breathing space to do the structural work that is necessary to put the economy on a path that it does not have to go to the doorsteps of the IMF for the 26th time,” he said.
Ahsan Mehanti, chief executive officer of Arif Habib Corporation, one of Pakistan’s leading business groups termed the IMF loan approval “a positive development,” saying this would help the country get the bilateral and multilateral support from different financial institutions including activation of $2 billion loan from the Asian Development Bank.
“This IMF loan program will help the stocks reach new heights with a boost to investor confidence and stabilize the rupee against the US dollar,” Mehanti told Arab News.
The IMF said in its statement the three-year loan program “will require sound policies and reforms” to support Pakistan’s ongoing efforts to strengthen its economy “and create conditions for a stronger, more inclusive, and resilient growth.”
It acknowledged Pakistan “has taken key steps to restoring economic stability with consistent reforms,” though it noted that the country’s vulnerabilities and structural challenges remained formidable.
“A difficult business environment, weak governance, and an outsized role of the state hinder investment, which remains very low compared to peers,” it added.
IMF Chief Kristalina Georgieva also held a brief meeting with the Pakistani prime minister on the sidelines of the 79th United Nations General Assembly Session.
“We do have good news,” she told the media following the meeting. “We have completed the review of the [loan] program successfully. I want to congratulate the government of Pakistan and the people of Pakistan for moving forward with the home-defined, Pakistan-owned reforms, and they are bringing fruits. Growth is up. Inflation is down. The economy is on a sound path.”
“The government aims to collect taxes from the rich and strengthening the Benazir social program to support the poor,” she added.
With input from AFP

Topics: Pakistan IMF Talks Pakistan IMF IMF bailout

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