ISLAMABAD: Pakistan’s new prime minister has appointed 57-year-old economist and businessman Miftah Ismail as the finance minister who will be tasked with quickly arresting a downward economic spiral and getting IMF talks back on track.
Ismail, who briefly held the post four years ago, brings with him a record of decisive policy action and a close relationship with Prime Minister Shehbaz Sharif but faces a daunting array of challenges, from falling foreign currency reserves to soaring inflation and potentially historic deficits.
He will have limited time to act, with a maximum of 15 months before general elections are due, while they may be called sooner.
The former IMF economist, with a PhD in Public Finance and Political Economy from the Wharton School of Business, held the job for a few months in 2018 when he joined a government near the end of its term.
In that short period, Ismail scrapped costly government exchange rate controls and gave the Pakistani rupee more flexibility, while cutting income taxes as part of a growth promotion policy.
As he returns to the post, central bank foreign reserves have fallen to $10.8 billion from $16.2 billion in just one month, according to the latest figures released on Thursday, providing import cover of only around 50 days, Ismail said.
To rebuild reserves, he is considering pushing for more deposits from friendly countries such as China, Saudi Arabia and the United Arab Emirates, sources in the ministry have said. All of those countries have parked funds in Pakistan’s central bank that will need to be rolled over.
He will also prioritize securing a successful International Monetary Fund review to release a tranche of more than $900 million and unlock finances from other international lenders that require a clean bill of health from the Fund.
Ismail has said he intends to restart talks soon to resume the 39-month, $6 billion bailout program, which Pakistan entered in 2019, but negotiations will be tough with many targets off track.
He has also said his foremost task will be to contain a burgeoning fiscal deficit that could hit 6.4 trillion Pakistani rupees ($35 billion), or about 10 percent of gross domestic product, versus a target of about 4 trillion rupees, by the end of June.
Energy subsidies announced by ousted premier Imran Khan, which are burning through Pakistan’s public finances, are also an immediate concern.
A rollback would be politically difficult, with Khan ratcheting up pressure for fresh elections and consumer inflation already clocking in at 12.7 percent in March.
The subsidies were rolled over on Friday for at least two weeks, with Sharif citing political pressure, but Ismail has made clear the support was not sustainable and would have to be revisited.
“We cannot let our fiscal and external financial position deteriorate further and have our development partners walk out. Tough choices need to be made,” he said in a tweet on Saturday.
Ismail, from a wealthy family that runs a confectionery business, Ismail Industrial Ltd, is expected to have a strong working relationship with the new premier. Sharif was a provincial chief minister when Ismail began his public service career as the head of a provincial investment board a decade ago.
Pakistan’s new finance minister faces tight time frame to tackle crises
https://arab.news/g8n3e
Pakistan’s new finance minister faces tight time frame to tackle crises
- Miftah Ismail briefly held the post four years ago, brings with him record of decisive policy action
- But the minister faces a daunting array of challenges, from falling foreign reserves to soaring inflation
Pakistan says 13 armed forces personnel killed in latest India conflict
- An army personnel and air force senior technician succumbed to their injuries, says Pakistani military
- India and Pakistan engaged in four days of armed conflict last week, worst between them since 1999
KARACHI: Pakistani military media’s wing said on Wednesday 13 members of the armed forces had been killed in the latest military confrontation with India, paying tribute to their courage and “unshakeable patriotism.”
The Inter-Services Public Relations (ISPR), the military’s media wing, said on Tuesday that 11 armed forces personnel had been killed in Pakistan’s latest standoff with India while 78 had been injured. Forty civilians had also been killed and 121 were injured.
India and Pakistan engaged in four days of armed conflict last week, the worst between them since 1999, pounding each other with fighter aircraft, missiles, drones and artillery fire. The conflict erupted when India fired missiles into Pakistan last Wednesday night after weeks of tensions over an attack in Indian-administered Kashmir on April 22. New Delhi blamed the attack on Pakistan, while Islamabad denied involvement.
“While defending the motherland with exemplary courage and unwavering resolve, 2 more valiant sons of the soil embraced shahadat today who were hospitalized, bringing the total number of martyred personnel of the Pakistan Armed Forces to 13 while 78 have sustained injuries in the line of duty,” the ISPR said, referring to India’s attacks on the night of May 6.
The army’s Havaldar Muhammad Naveed Shaheed and Senior Technician Muhammad Ayaz of the Pakistan Air Force were the latest armed forces personnel who succumbed to their injuries, the ISPR said.
“Their noble sacrifice stands as a timeless testament to their courage, devotion to duty, and unshakeable patriotism,” it added.
After India struck multiple Pakistani cities last Wednesday with missiles, claiming it had targeted “terrorist” camps in response to the April 22 attack, Islamabad vowed to retaliate saying it had shot down five Indian fighter jets.
Things came to a head on Saturday morning when Pakistan said India had attacked three bases, and it struck back with attacks on multiple bases in India, including a missile storage site in India’s north.
Hours later, US President Donald Trump announced he had brokered a ceasefire between the two states, calming fears of an all-out war.
Both countries claimed victory as the fragile ceasefire came into force, with Pakistan saying it targeted several Indian military sites on Saturday and destroyed an S-400 missile defense system as part of its retaliatory ‘Operation Bunyan-un-Marsoos’ operation, which translates to “Wall of Lead” in Arabic, in response to India attacking three air bases.
India has also released new satellite images showing serious damage to air strips and radar stations at what Indian defense officials say are multiple Pakistani military bases crippled by massive Indian airstrikes.
Bitter rivals India and Pakistan have fought two of their three wars over Kashmir, a region split between them, since gaining independence from British colonial rule in 1947. Both nations are nuclear-armed, raising global alarm every time an armed conflict breaks out between them.
‘She can’t do it’: How a Pakistani teenage boxer fought her biggest battle before the first punch
- Aliya Soomro, 19, knocked out Thailand’s Suthida Ganyanooch in a boxing contest in Bangkok on May 3
- The eldest daughter of a laborer, Soomro says people often told her parents not to let her pursue boxing
KARACHI: In a powerful display of grit and determination, 19-year-old Aliya Soomro punched her way to international recognition, knocking out Thailand’s Suthida Ganyanooch in the first round of “The Fighter: World Boxing” match in Bangkok on May 3.
Yet, for the teenage fighter from Karachi’s gritty Lyari neighborhood, the real battle was fought long before she entered the ring, as she braved relentless criticism and deeply ingrained gender norms back home.
In a country where many women still struggle to pursue their ambitions, especially in fields traditionally considered the preserve of men, Soomro said her victory was about more than just boxing as it challenged the limits others had set for women like her.
“They ended up motivating me,” she told Arab News at her modest residence, referring to all those who questioned her passion. “People thought they were demotivating me, but what they didn’t realize was that their negativity was actually turning into my motivation.”
“People gossiped about me, saying things like, ‘Make her quit, she can’t do it, this is beyond her,’” she said, recounting how many of them whispered such comments in her parents’ ears.
Born and raised in Lyari, an area long associated with poverty and gang violence, Soomro grew up hearing doubts about girls’ capabilities and endured years of neglect.
“You know, people still follow old-fashioned thinking that girls can’t do anything, that it’s not in their capacity and that they should just stay at home and tend to the stove,” she said.
But she was not just disappointed in people but also the sports authorities since even after being repeatedly shortlisted for Pakistan’s national boxing team, she was dropped without explanation.
“I was told, ‘Be ready, you’ll get your ticket in the morning.’ But when I got ready and sat waiting in the morning, I found out someone else had taken my place.”
Soomro’s father, Muhammad Hanif Soomro, a laborer and former footballer, said he made it his life’s mission to help his daughter, eldest of his four children, succeed.
“I am very happy as what has happened with me is not happened with my daughter,” he said, recalling how his poverty and lack of support deprived him of making his dream of playing football for his country come true.
He said he just unheard criticism of his daughter.
“If we had listened to the criticism, this would not have been possible,” he maintained. “The answer to criticism is hard work, dedication and she proved it. That’s her response.”
Without sponsors or institutional backing, Soomro said she walked from company to company during Ramadan, seeking help.
“Even during Ramadan, while fasting, I would go around to companies asking for sponsorship,” she said. “No one supported me.”
Eventually, help came from unexpected place, with Muhammad Hussain Bhatti, a leader from the fishermen’s community, getting her visa and tickets.
“After that, he took full responsibility for my sponsorship,” she added.
The victory in Bangkok has changed how Soomro is seen. Upon her return, she was applauded by Sindh Chief Minister Murad Ali Shah who awarded her a shield and Rs1 million ($3,553) cash prize.
“Now, after returning with a victory, the situation has changed,” she said. “The chief minister is giving me great support.”
She’s also been offered a sports scholarship and professional coaching support ahead of her upcoming fight against an Indian opponent in Dubai.
But for Soomro, the transformation is deeply personal.
“The same ground where people once gossiped about me, I was later invited there as a chief guest, and they said, ‘She is our daughter.’ That was a moment of pride for me,” she said.
Soomro hopes her success will inspire other girls in Lyari and across Pakistan to pursue their dreams, regardless of societal pressures.
“I would just say this,” she said. “Don’t confine girls within four walls. Let them live freely. Just as you consider boys to be strong, know that women’s strength is even more important in your life... Women are powerful.”
She informed that boxing ran in her blood, with her maternal grand grandfather being a boxer.
“There was this one story. A cow had broken free. My great grandfather stood in a specific stance and threw a counter right, and it hit so hard that one of the cow’s horns broke off,” she said, smiling.
Despite being a third-year BBA student at a local university, Soomro balances her studies, training and coaching.
“Boxing isn’t just a sport for me,” she said. “Boxing is my life.”
Recalling her fight in Bangkok, Soomro said when she stepped into the ring, she just wanted to win. She knocked her opponent out in just 45 seconds.
When her Thai rival stood up, she hugged Soomro, saying: “Your punch is very hard.”
Islamic Development Bank supports Pakistani project to reactivate out-of-work women doctors
- Originally launched in 2018, eDoctor program was born out of national need to bring licensed but inactive doctors back to work
- As many as 35 percent of female medical doctors are unemployed in Pakistan, according to 2023 Gallup Pakistan survey
KARACHI: Pakistan’s Dow University of Health Sciences (DUHS) and health and education tech platform EDUCAST on Wednesday launched a telemedicine initiative aimed at reviving the careers of out-of-practice Pakistani women doctors in a project funded by the Islamic Development Bank.
Originally launched in 2018, the eDoctor program was born out of a national need to reclaim licensed but inactive female doctors who had exited the medical field due to social, familial, or logistical barriers, resulting in estimated Rs. 35 billion losses to the public exchequer. As many as 35 percent of female medical doctors are unemployed in Pakistan, according to a Gallup Pakistan survey in 2023.
The first phase of the project successfully trained and reactivated over 1,500 female doctors across 27 countries through a self-paced, digitally-enabled certification program in partnership with Germany’s Lecturio and Standford University’s Digital Medic platform.
The second phase of the project, Doctor 2.0, launched this week will offer advanced online certification in clinical practice and telemedicine, hands-on clinical observation opportunities at partner clinics, access to Al-powered virtual clinics via smartphones and integration into national initiatives such as ElderCare, polio eradication, MCH support, and rural telehealth.
“This is more than a training program, this is a movement to empower Pakistani women doctors through technology, purpose and dignity,” said Prof. Dr. Jehan Ara Hassan, Acting Vice Chancellor of DUHS. “With Doctor 2.0, we’re giving them a toolkit to reclaim their profession and serve their people.”
She added that Doctor 2.0 was positioned to become a “global model” for female-led, Al-powered, digital health, with plans to export the model to conflict-affected and underserved countries through partnerships with humanitarian agencies.
“This program embodies what modern, resilient, and inclusive health care should look like,” EDUCAST CEO Abdullah Butt said. “We’re proud to be the digital backbone of this transformative initiative.”
Past work of the eDoctor project include managing over 500,000 patients through EDUCAST’s COVID home care program in Sindh during the coronavirus pandemic.
In Afghanistan, the program provided teleconsultation services across 20 Afghan provinces, enabling cancer care, maternal health, and urgent second opinions, while in Yemen, through partnerships with NGOs like INSAN, it offered digital support in areas with no access to on-ground health services.
The program was also used to mobilize tele-triage and digital support during emergencies such as floods in Pakistan and is the backbone of Pakistan’s first elderly home health care platform, BRIDGE, supporting hundreds of senior citizens remotely.
Lebanese hairstylist expands footprint in Pakistan with Lahore salon launch
- Michael Kanaan moved to Pakistan over two decades ago and has worked in Beirut, Cairo and Dubai
- Luxury salons are gaining ground in Pakistan amid rising demand in a largely informal grooming market
ISLAMABAD: A Lebanese hairstylist known for bringing international styling techniques to Pakistan has opened a new salon in the eastern city of Lahore, expanding his presence in the country’s high-end grooming market.
Michael Kanaan, who began his career as a teenage apprentice in Mount Lebanon, has worked in Beirut, Cairo, Dubai and Abu Dhabi. He moved to Pakistan more than two decades ago and launched his first salon in Islamabad in 2009 with his wife and business partner, Elizabeth Whitney Kanaan.
Known for his distinctive personal style and precision-based technique, Kanaan has built a reputation among diplomats, socialites and professionals in the Pakistani capital. His salons now employ more than 30 staff, including four international stylists.
“Expanding into Lahore is a big step for us,” Kanaan was quoted in a statement circulated after the launch of the Lahore branch last week.
“It’s fresh energy and a new audience. We’re quite excited about bringing what we do to a whole new community while growing the brand in a way that still feels personal and true to our roots.”
With rising demand for luxury grooming services in Pakistan’s urban centers, salons offering international standards are carving out space in a market still dominated by informal setups.
Kanaan said a key focus remains on consistent training and long-term client relationships.
“The beauty industry has evolved in so many ways,” he said, “but at its heart, it’s always been about making people feel beautiful, confident and empowered.”
Religious minister directs prompt distribution of Nusuk permit cards to Pakistani Hajj pilgrims
- Nusuk is an permit and ID document to help manages logistics and administration for pilgrims
- 2,800 Pakistani pilgrims traveling from Madinah to Makkah have already received their cards
ISLAMABAD: Religious Minister Sardar Muhammad Yousaf has instructed the Pakistan Hajj Mission to promptly distribute Nusuk identification cards to pilgrims arriving in Saudi Arabia, state media reported this week.
Over the last few years, Saudi Arabia has launched mobile apps like Nusuk, Hajj Navigator, Tawakkalna and Asefny to streamline services, offer real-time guidance and ensure pilgrim safety.
Nusuk cards are an essential Hajj permit for pilgrims traveling to Makkah and the holy sites. It facilitates movement and ensures the well-being of Hajj pilgrims by managing logistics and administration. The card also allows pilgrims to access information about their Hajj mission, schedules, and allows for communication with their mission. Additionally, it enables receiving alerts, evaluating services, and filing observations.
The Nusuk app offers permit issuance, booking services, interactive maps, real-time updates and health facility access in multiple languages.
“Minister for Religious Affairs and Interfaith Harmony Sardar Muhammad Yousaf on Tuesday directed the Pakistan Hajj Mission to ensure the immediate delivery of Nusuk Cards to incoming pilgrims upon their arrival in Saudi Arabia,” the Associated Press of Pakistan (APP) said on Tuesday.
So far, 2,800 pilgrims traveling from Madinah to Makkah had received their Nusuk cards, the minister added.
This year’s annual pilgrimage is expected to take place between June 4-9, with nearly 89,000 Pakistanis expected to travel to Saudi Arabia under the government scheme and 23,620 Pakistanis through private tour operators.
