Leader of Pakistan opposition movement says will meet Imran Khan if he has learnt from past mistakes

KARACHI: The head of an official delegation visiting world capitals to present Islamabad’s position following a recent military standoff with New Delhi on Wednesday accused Indian external affairs minister S. Jaishankar of behaving like a “warmonger, not a diplomat” but said Pakistan would not be baited into “war theatrics.”

Speaking at a press conference in London, former Pakistani foreign minister Bilawal Bhutto Zardari, who is heading the high-level delegation lobbying Western governments, rejected what he called “recycled allegations” from New Delhi about Islamabad’s role in cross-border terrorism and warned that India’s threats to stop Pakistan’s flow of river water could escalate into an open conflict.

Speaking in Brussels on Tuesday, the Indian foreign minister had warned the West that Pakistan-sponsored terrorism would “eventually come back to haunt you.”

“Mr. Jaishankar speaks like a warmonger and not a diplomat. If he believes that threatening nuclear war is diplomacy, then India’s problem isn’t Pakistan, it’s extremism inside its own cabinet,” Bhutto Zardari said. “Threatening missile strikes and boasting about escalation is not a display of strength. It’s a dangerous sign of regional instability.”

He also mocked India’s claim that Pakistan was behind a April 22 militant attack in Indian-administered Kashmir that triggered a four-day military confrontation in May. Pakistan has denied the accusations and demanded India present evidence.

“If Jaishankar is so enamored by Google images, I suggest he Google Abhinandan Chaiwala,” he said, referring to a 2019 dogfight after which Indian pilot Abhinandan Varthaman was captured and then released by Pakistan.

“India knows that Pakistan had nothing to do with this attack. This was indigenous terrorism within Indian-occupied Kashmir, a secure intelligence failure of the Indian government,” he added.

On water, Bhutto Zardari issued a stern warning against what Islamabad described as India’s “weaponization” of shared rivers under the 1960 Indus Waters Treaty, brokered by the World Bank.

After the April 22 attack, India had announced it was unilaterally terminating the treaty and would halt Pakistan’s waters. The agreement had long been considered a rare pillar of cooperation between the two sides.

“If India actually carries out this threat, then Pakistan has already said that this declaration will be a war,” Bhutto Zardari said.

“If we want to create an environment for dialogue, where we can talk about the issue of Kashmir or any other issue, then it is very important to follow the old treaties.”

DIPLOMATIC BLITZ

Pakistan and India have launched competing diplomatic offensives across major capitals weeks after their worst military escalation in decades in which the two nuclear-armed nations exchanged missile, drone, and artillery fire until the United States and other allies brokered a ceasefire on May 10.

Bhutto Zardari’s delegation is currently in London after visiting the United States and is scheduled to travel onwards to Brussels. Indian opposition MP and former UN under-secretary Shashi Tharoor is leading a parallel outreach effort for New Delhi, presenting India’s case that Kashmir is a domestic matter and accusing Pakistan of supporting terrorism — a charge Islamabad denies.

Earlier in London, Bhutto Zardari met with senior British diplomats and UK-based Kashmiri leaders, and accused India of violating international agreements, including the Indus Waters Treaty.

“The Jammu & Kashmir dispute remains the unfinished agenda of the United Nations and the unhealed wound of Partition,” he wrote in a post on X. “In all my interactions, Kashmir was central — its people’s inalienable right to self-determination under UNSC resolutions must be upheld.”

He also met with Christian Turner, former British High Commissioner to Pakistan and incoming UK Permanent Representative to the United Nations.

“Welcomed the UK’s emphasis on diplomacy and dialogue, and encouraged its continued, constructive role in supporting de-escalation and encouraging dialogue for resolution of the Jammu & Kashmir dispute, the unfinished agenda of Partition and British legacy,” Bhutto Zardari said after the meeting.

As both governments build their respective cases ahead of a high-level UN session on South Asia later this month, Pakistan has framed its position as one of restraint and diplomacy.

“We want peace, stability, and regional integration,” Bhutto Zardari said at the London press meet.

“Pakistan won’t be baited into war theatrics. We will defend ourselves if attacked, but we do not crave conflict.”

ISLAMABAD: Pakistan is aiming to sharply increase economic growth under its annual federal budget unveiled on Tuesday, but analysts are skeptical about the country’s ability to meet its ambitious goals.

The budget targets higher revenues and a steep fiscal deficit cut under International Monetary Fund (IMF) backed reforms. Yet, defense spending was hiked 20 percent, excluding military pensions, after last month’s conflict with India.

Finance Minister Muhammad Aurangzeb said in a post-budget press conference on Wednesday that customs duties have been cut or removed on thousands of raw materials and intermediate goods.

“Industry here has to be competitive, competitive enough to export,” he said.

But growth drivers remain unclear. The government is targeting 4.2 percent GDP growth in fiscal 2026, up from 2.7 percent this year, which was revised down from an initial 3.6 percent as agriculture and large-scale manufacturing underperformed.

“Pakistan’s GDP growth projection of 4.2 percent appears ambitious given recent performance, and overly optimistic assumptions may place tax targets out of reach,” said Callee Davis, senior economist at Oxford Economics.

Pakistan’s past growth spurts were consumption-led, triggering balance-of-payments crises and IMF bailouts. The government says it now wants higher-quality, investment-driven growth.

Aurangzeb said structural reforms are underway, pointing to East Asia-style pro-market transitions. “This is an East Asia moment for Pakistan,” he said.

“BUDGET KEEPS IMF HAPPY”

The 17.57 trillion rupee ($62.24 billion) budget comes as Pakistan remains under a $7 billion IMF program. Revenues are projected to rise over 14 percent, driven by new taxes and broadening the tax base. The fiscal deficit is targeted at 3.9 percent of GDP, down from this year’s 5.9 percent.

Key reforms include taxing agriculture, real estate, and retail, and reviving stalled privatizations. But revenue shortfalls this year have raised doubts, with both agriculture income tax and retail collections missing targets. Only 1.3 percent of the population paid income tax in 2024, government data shows.

“Pakistan’s budget keeps the IMF and investors happy, even if it comes at a near-term cost to growth,” said Hasnain Malik, head of equity strategy at Tellimer.

“The political setup, with the military firmly in charge, also lowers the risk of protests.”

While overall spending will fall 7 percent, defense will rise after the worst fighting between the nuclear-armed neighbors in decades. Including pensions, defense spending will total $12 billion, 19 percent of the federal budget or 2.5 percent of GDP, matching India’s share, per World Bank data.

The hike was enabled by a sharp drop in interest payments, as the central bank cut policy rates from 22 percent to 11 percent over the past year, easing domestic debt servicing costs. Aurangzeb said cuts in subsidies also helped create fiscal space.

($1 = 282.3000 Pakistani rupees)