ISLAMABAD: Prime Minister Shehbaz Sharif on Friday invited American banks to invest in Pakistan’s infrastructure, energy, technology and agriculture sectors as the South Asian country seeks sustainable forms of external financing like direct investment.
On Friday, the IMF said Pakistan had received “significant financing assurances” from China, Saudi Arabia and the United Arab Emirates linked to a new International Monetary Fund program that go beyond a deal to roll over $12 billion in bilateral loans owed to them by Islamabad.
The IMF’s Executive Board on Wednesday approved the new $7 billion, 37-month loan agreement for Pakistan that will require “sound policies and reforms” to strengthen macroeconomic stability and address structural challenges alongside “continued strong financial support from Pakistan’s development and bilateral partners.”
The approval releases an immediate $1 billion disbursement to Islamabad.
On Friday, Sharif met a delegation of officials from top American banks in New York, including JP Morgan, Natixis Corporate & Investment Bank, Sumitomo Mitsui Banking Corporation, Goldman Sachs, Citizens Bank, Lazard and Audax Private Equity Partnering.
“The Prime Minister assured the delegation of the government’s commitment to maintaining a stable macroeconomic environment to facilitate foreign investors,” state broadcaster Radio Pakistan said in a report after the meeting.
“The Prime Minister informed the delegation about the key initiatives taken by the Government to stabilize the economy and attract foreign investment to Pakistan, including broadening the tax base, enhancing the ease of doing business, and ongoing reforms in the state-owned enterprises.”
These steps had resulted in improved economic indicators and the up-gradation of Pakistan’s credit rating by international rating agencies, including, Fitch and Moodys.
“He also briefed the delegation on the establishment of a Sustainable Finance Framework, which will allow the government to carry out a green and sustainability bond issuance in the international capital markets,” Radio Pakistan reported.
Islamabad had been working on implementing the IMF’s conditions, which Sharif had previously called “strict” to secure the 37-month loan program agreed in July.
One condition was to secure additional external financing, which the country was struggling to do.
The IMF said in a statement on Wednesday that Pakistan had taken key steps to restore economic stability with consistent policy implementation under the 2023-24 standby arrangement.
It added that growth had rebounded to 2.4 percent and inflation has receded significantly, falling to single digits, amid appropriately tight fiscal and monetary policies.
A contained current account and calm foreign exchange market conditions have allowed the rebuilding of reserve buffers, and the central bank of Pakistan has been able to cut the policy rate by a total of 450 bps since June, the statement said.
Despite this progress, it said, Pakistan’s vulnerabilities and structural challenges remain formidable, adding that the tax base remains too narrow.
“Without a concerted adjustment and reform effort, Pakistan risks falling further behind its peers,” it warned.
With inputs from Reuters
Pakistan invites investment from American banks as it seeks sustainable external financing
https://arab.news/j9zuc
Pakistan invites investment from American banks as it seeks sustainable external financing
- On Friday, Sharif met officials of top American banks including JP Morgan, Natixis Corporate & Investment Bank, Goldman Sachs
- IMF bailout loan is contingent on “continued strong financial support from Pakistan’s development and bilateral partners”
Popularity of Himalayan salt grows in China as Pakistan exports reach $1.8 million in FQ25
- Pakistan sees 40 percent increase compared to exports in same period last year
- Himalayan salt export driven by increasing Chinese interest in health-oriented products
ISLAMABAD: Pakistan exported $1.83 million (Rs512 million) worth of salt to China in the first three months of 2025, an increase of 40 percent compared to the same period last year, state-run media reported on Monday, showing the growing popularity of the product in the Chinese market.
Pakistan primarily exports salt to the United States, Canada, China, the United Kingdom, and Japan. Other significant destinations include Afghanistan, the United Arab Emirates, and Vietnam. Pakistan’s salt exports are known to be mined at the Khewra Salt Mine and surrounding deposits.
The Khewra Salt Mine is one of the world’s oldest and second largest, turning out 325,000 tons of salt a year. The mine is renowned for producing Himalayan pink salt, which is popular globally for its unique color and health benefits. The mine contributes significantly to Pakistan’s exports, especially to China, and is also a major tourist attraction due to its historical and geological significance.
“Pakistan exported over 13.64 million kilograms of salt to China worth $1.83 million (Rs512 million) in the first quarter of 2025 whereas last year in the same period it was $1.3 million (Rs364 million),” the Associated Press of Pakistan said in a report, quoting Ghulam Qadir, the Trade and Investment Counsellor of Pakistan in Beijing.
“Pakistan is exporting salt to China under three categories, edible salt, pure sodium chloride and other salt.”
The report attributed the increase to better trade ties between the two nations and China’s increasing appetite for premium-grade edible salt as well as for salt for industrial consumption, particularly for use in the chemical, pharmaceutical and food processing sectors.
Industry experts attributed Pakistan’s salt export growth to “improved logistics, competitive pricing and enhanced quality standards” adopted by Pakistani exporters.
“This surge is a testament to Pakistan’s expanding capacity to meet international market demands, and a positive sign for diversifying our exports to China,” the report said, quoting a Trade Development Authority of Pakistan official.
Militant ‘ringleader’ among six insurgents killed in northwest Pakistan — army
- Military conducts frequent operations against militants it claims launch attacks from safe havens in Afghanistan
- Militants have intensified attacks on army and its bases since revoking ceasefire with government in late 2022
ISLAMABAD: The Pakistan Army said on Monday a militant “ringleader” was among six insurgents killed in two intelligence-based operations in the northwestern Khyber Pakhtunkhwa province.
In recent months, the military has launched frequent operations in the restive Khyber Pakhtunkhwa province bordering Afghanistan. The army’s target in the area is militants it says launch attacks inside Pakistan and against the army using safe havens in Afghanistan, a charge Kabul denies.
Groups like the Pakistani Taliban, commonly known as the Tehreek-e-Taliban Pakistan (TTP), have been waging a war against the Pakistani state for nearly two decades in a bid to overthrow the government and replace it with what they consider an Islamic system of governance.
“On 20-21 April 2025, six Khwarij [militants] were sent to hell in two separate engagements in Khyber Pakhtunkhwa Province,” the army said in a statement.
One operation was in the South Waziristan district, where the army said militant “ringleader” Zabi Ullah was killed. The statement said he had “remained actively involved in numerous terrorist activities against security forces as well as in target killing of innocent civilians and was highly wanted by the Law Enforcement Agencies.”
Another intelligence-based operation was conducted in Razmak, North Waziristan District, in which five militants were killed.
Militants have intensified their attacks since revoking a ceasefire with the government in late 2022, with recent months witnessing significant strikes targeting the military and its bases.
Pakistani religious parties announce Gaza rally at Lahore’s Iconic Minar-e-Pakistan
- Religious parties say are forming new pro-Gaza platform called Majlis-e-Ittehad-e-Ummat
- Platform to launch nationwide awareness campaigns to boycott Israeli products and companies
ISLAMABAD: The chief of Pakistan’s main religious-political party, the Jamiat Ulema-e-Islam F (JUI-F), said on Monday the JUI-F and other religious parties would stage a protest rally in solidarity with Palestinians at the iconic Minar-e-Pakistan monument in Lahore on Apr. 27.
The move follows a Gaza Solidarity March organized by another religio-political party, Jamaat-e-Islami (JI), on a main road connecting Islamabad and Rawalpindi last week that was attended by thousands.
“A very big rally will be held at Minar-e-Pakistan in Lahore on Apr. 27 along with a protest,” JUI-F chief Maulana Fazlur Rehman said on Monday at a press conference in Lahore alongside JI chief Hafiz Naeem-ur-Rehman.
“We all will participate along with other religious parties. We are forming a new platform now by the name of Majlis-e-Ittehad-e-Ummat.”
He also said nationwide awareness campaigns would be launched by the platform to boycott Israeli products.
Separately, the JI has announced a nationwide strike on Apr. 26 in solidarity with Palestine and urged citizens to boycott brands that support Israel amid its ongoing military offensive in Gaza.
Pakistan does not maintain diplomatic relations with Israel and has for decades condemned its military actions in Gaza.
Islamabad has called for the immediate resumption of humanitarian aid to the besieged enclave and a revival of negotiations toward a two-state solution. The country has long supported the establishment of an independent Palestinian state based on pre-1967 borders, with East Jerusalem as its capital.
Since October 7, 2023, when Israel launched its latest military assault on Gaza, more than 51,000 Palestinians have been killed and over 116,000 injured.
Free ambulance service in southern Pakistan delivers babies, and hope, onboard
- Nearly 100 babies successfully delivered inside Sindh Integrated Emergency and Health Services ambulances this year
- As per UN report, Pakistan was among four countries that accounted for nearly half of all maternal deaths worldwide in 2023
MAKLI, Sindh: Earlier this month close to the crack of dawn, a free ambulance service in southern Pakistan received a call that a 26-year-old woman from a remote village in Thatta had gone into labor without a health facility nearby for miles.
Within minutes of receiving the call, a Sindh Integrated Emergency and Health Services (SIEHS) ambulance staffed with health workers trained in emergency obstetric care sped off toward Shabeera Bibi’s location in the Sindh province. The paramedics stabilized her and left with her for the nearest health center but realized soon that there just wasn’t enough time to reach the facility.
With her husband’s consent, Shabeera’s baby boy was delivered in the moving ambulance, one of 100 babies born in an SIEHS ambulance in this year alone.
“I was in a lot of pain when I was about to deliver, the baby’s condition was also at risk and my water had broken,” Bibi recalled, sitting on a charpoy back at home in her mud home in Hussain Notiar village.
In her arms, she held her newborn son Fayyaz.
“I am simply grateful to Allah for saving my baby and my life, and that my baby is still with me today.”
Pakistan’s Sindh province is the second most populated province of the country where 30 percent of women receive no prenatal care, 60 percent do not give birth in a health facility, and the maternal mortality ratio is thrice the UN’s Sustainable Development Goal 3 target.
As per a recent United Nations report, Pakistan was among four countries that accounted for nearly half of all maternal deaths worldwide in 2023. The situation is dire in rural districts such as Thatta, where the health infrastructure is shoddy and few skilled birth attendants are available.
Set up in 2021, SIEHS, which runs as a public-private partnership, wants to fill the gap, with its ambulances, called ‘HOPE,’ providing free and round-the-clock assistance to people in Sindh though the 1122 helpline.
“Our job is to respond to emergencies,” Farheen Haider, an emergency Mmedical technician (EMT) at SIEHS, told Arab News. “When it’s a delivery case, we respond immediately. If the situation is more critical, we try to manage the patient on the way.”
Since its establishment, SIEHS has delivered 400 babies in ambulances across Sindh, with the mothers surviving in all cases, Haider added.
Shabeera’s was one such case in which paramedics worked in the confined space of the ambulance, performing the delivery and administering immediate postnatal care, including carrying out an APGAR scoring to gauge the health of the baby, as well as cleaning the mother and baby and cutting the umbilical cord.
The baby’s grandmother, Haseena Bibi, recalled the ordeal the woman went through that day.
“We are very poor and we couldn’t reach the hospital … we were very worried and then the girl [Shabeera] said that she couldn’t bear it anymore,” Haseena said.
She said the ambulance arrived quickly and Shabeera gave birth on the way.
Around 600 HOPE ambulances are operating in various districts of Sindh, Wazeer Ahmed, SIEHS regional manager told Arab News.
One of the main objectives of the service, he explained, was to move expecting women to hospitals:
“But if there are complications or the baby is about to be delivered, we take permission from the parents or the husband and proceed with the delivery inside the ambulance.”
Pakistan says Saudi Arabia has granted additional 10,000 slots for private Hajj scheme
- Nearly 90,000 Pakistanis are expected to perform Hajj pilgrimage under government scheme
- Around 23,620 Pakistani were to perform Hajj through private scheme before new slots added
ISLAMABAD: Religious Affairs Minister Sardar Muhammad Yousaf said on Monday Saudi Arabia had granted Pakistan an additional 10,000 slots for Hajj pilgrims traveling under the private scheme.
The annual Islamic pilgrimage is expected to take place this year in June. Pakistan and Saudi Arabia signed the Hajj Agreement 2025 in January, under which Pakistan was given a quota of 179,210 for the pilgrimage to be divided equally between government and private schemes.
Nearly 90,000 Pakistanis are expected to travel to Saudi Arabia under the government scheme this year and 23,620 Pakistani were to perform Hajj through private tour operators, which means that over 60,000 slots from the total quota had remained unfilled.
“We have been allowed 10,000 more in the quota, this is not government but private quota,” Yousaf told reporters.
The development has not yet been confirmed by Saudi authorities.
Prime Minister Shehbaz Sharif has constituted a three-member inquiry committee to probe why Pakistan had failed to use the full 179,210 quota for Hajj 2025.
Hajj flight operations will begin from Apr. 29 with the first flight departing from Pakistan’s eastern city of Lahore.
While a precise number for Hajj 2025 is difficult to determine in advance, projections suggest it will be a record-breaking year, with over 2.5 million pilgrims expected.
