Pakistan's PM says IMF 'scrutinizing' every book amid loan negotiations

The International Monetary Fund (IMF) logo is displayed outside its headquarters in Washington DC, United States, on October 8, 2022. (AFP/File)
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Updated 06 February 2023
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Pakistan's PM says IMF 'scrutinizing' every book amid loan negotiations

  • An IMF mission is currently in Pakistan to discuss reviving a stalled loan program
  • PM calls for forging unity among ranks, ushering in economic and political stability

ISLAMABAD: Prime Minister Shehbaz Sharif admitted on Sunday that Pakistan was facing “too many financial challenges" with the International Monetary Fund (IMF) mission “scrutinizing each and every book” to ascertain whether the country has met its conditions to revive a stalled $7 billion loan program or not. 

Pakistan, in the throes of a dire economic crisis, currently has foreign exchange reserves below $3 billion, barely enough to cover eighteen days of imports. The South Asian country is struggling to bring down decades-high inflation and strengthen its national currency, which has depreciated to a historic low against the US dollar in recent days.

To mitigate the situation and save the country from default, Pakistan is desperately looking for external financing. Islamabad is holding talks with the IMF, whose mission arrived in the country last month, to discuss the resumption of a stalled loan program.

The premier, while addressing a special session of Azad Jammu and Kashmir’s Legislative Assembly to mark the “Kashmir Solidarity Day”, said the global money lender is critically analyzing every aspect of the country’s economic performance to release the much-awaited loan.

“We are facing too many financial challenges at the moment,” he said. “The IMF’s mission, which is in Islamabad right now, is scrutinizing each and every book, whether it is related to finance, petroleum, commerce, or the power sector.”

The premier added that the lender was looking at “each and everything” which included all subsidies, to make sure its conditions are being met.

He said Pakistan has to survive but begging before other nations or financial bodies was not the way to go about it. 

“This matter [seeking IMF’s help] has been going on for 75 years, but we have to draw a line at some point to stop this from happening,” he said. Sharif called for unity to tackle national challenges. 

“It can only happen if the entire nation unites to fight against inflation and depend on their own resources,” he continued, acknowledging that achieving such goals was easier said than done.

PM Sharif also stressed unity among all political parties so that the country’s economy could be strengthened, and it could continue to be in a position to support the people of Kashmir in attaining their right to self-determination.

India and Pakistan have fought several wars over Kashmir since their independence in August 1947.  The two countries claim the region in full but control only parts of it. Relations between the two countries had always remained tumultuous, but they worsened in 2019 after Indian Prime Minister Narendra Modi abrogated Kashmir’s special status.

On February 5 each year, Pakistan expresses solidarity with the people of Kashmir. Islamabad has long accused India of committing atrocities against the people of the disputed valley and denying them the right to self-determination. New Delhi rejects the allegations and accuses Islamabad of funding militants in the region. 

“As the prime minister of allied parties and representative of 220 million Pakistani people, I fully assured [our] Kashmiri brethren that we would continue our support for their due right of self-determination,” he said. “But first, we have to forge unity among our ranks, besides, bringing economic and political stability."

“[For that] politicians should strive to make Pakistan economically stronger.”


Pakistan eyes $200 million from tuna exports under new fishing quota

Updated 50 min 19 sec ago
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Pakistan eyes $200 million from tuna exports under new fishing quota

  • Pakistan says Indian Ocean Tuna Commission has issued it tuna fishing quota of 25,000 metric tons
  • Pakistan catches 45,000 metric tons of tuna per year but it escapes the formal economy, says minister

ISLAMABAD: Pakistan’s Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said this week that the government is eyeing a $200 million boost for the country’s tuna sector, after securing a new fishing quota from the Indian Ocean Tuna Commission (IOTC).

Pakistan’s Maritime Affairs Ministry said in a press release on Saturday that the IOTC has issued Islamabad a new tuna fishing quota of 25,000 metric tons, which comprises 15,000 tons of Yellowfin Tuna and 10,000 tons of Skipjack Tuna. 

The IOTC is an intergovernmental body comprising 30 member states, established under the United Nations Food and Agriculture Organization (FAO). Its mandate is to manage tuna and related species in the Indian Ocean by promoting sustainable use through scientific research, quota distribution, and regulatory frameworks.

“This is a landmark achievement that promises significant foreign exchange earnings,” Chaudhry was quoted as saying by the ministry on Saturday. 

“With international prices for these tuna species ranging between $5 and $7 per kilogram, and potentially higher with value-added processing, the economic potential is enormous.”

The minister described the development as a “turning point” for the country’s tuna sector. He noted that though Pakistan currently catches more than 45,000 metric tons of tuna each year, much of it has been escaping the formal economy due to unregulated operations.

Chaudhry said to realize the potential of tuna fish as an economic resource, the government has undertaken reforms such as introducing the National Fisheries and Aquaculture Policy.

He said the policy is aimed at unifying fragmented regulatory frameworks while promoting environmentally sound and revenue-generating fishing techniques.

“This policy framework supports Pakistan’s obligations under international climate and marine conservation agreements,” the minister said. 

Chaudhry said destructive fishing methods such as gillnetting and trawling are being phased out, with the government replacing them with more selective and environmentally friendly longlining techniques. 

“This transition reduces bycatch and supports ocean health in the face of climate-driven stressors such as warming waters and changing migration patterns,” he said. 

He said the government has undertaken reforms such as the revision of certification and testing fees for seafood exports, resulting in a revenue increase from Rs48 million [$168,960] to Rs250 million [$880,000].

Finance Minister Muhammad Aurangzeb has repeatedly spoken of the government’s intentions to put Pakistan on the path to sustainable economic progress through exports. 

The South Asian country hopes to increase its exports to escape a prolonged macroeconomic crisis that decreased its foreign exchange reserves and weakened its national currency, especially in 2023, before the government undertook fiscal reforms. 


Pakistan issues fresh alert for floods as heavy rains kill 66 since June 26

Updated 06 July 2025
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Pakistan issues fresh alert for floods as heavy rains kill 66 since June 26

  • Pakistan warns of floods and high water levels in four provinces, Azad Kashmir and Gilgit-Baltistan till July 10 
  • Pakistan, home to over 240 million people, is consistently ranked among countries most vulnerable to climate change

KARACHI: Pakistan’s National Disaster Management Authority (NDMA) on Sunday issued a fresh alert, warning that heavy downpours are likely to cause flooding in several parts of the country till July 10. 

Monsoon rains in Pakistan have killed at least 66 people and injured 127 in rain-related incidents such as electrocutions, house collapses, landslides and drownings since June 26, according to the NDMA’s latest situation report. 

Pakistan, home to over 240 million people, is consistently ranked among the countries most vulnerable to climate change. In 2022, record-breaking monsoon rains and glacier melt caused catastrophic floods that affected 33 million people and killed more than 1,700.

“There is a risk of heavy rainfall and flooding across the country until July 10,” the NDMA said in its press release, warning that flash flooding and increased water levels are expected in streams and rivers across Pakistan’s four provinces, Azad Kashmir, and Gilgit-Baltistan regions. 

It warned of increased water levels and flash floods in the country’s Chenab, Jhelum, Indus, Kabul, and Hunza rivers.

“Additionally, there is a risk of localized flooding in northeastern Punjab, southern Balochistan (including Awaran, Khuzdar, Jhal Magsi), and Azad Kashmir,” the statement said. 

The authority warned the masses against crossing streams and bridges during this period, urging residents in low-lying areas to take protective measures to prevent urban flooding.

The NDMA urged citizens to stay updated on the weather conditions and monitor its mobile application. 


China used embassies to undermine Rafale sales after India-Pakistan conflict— French intelligence 

Updated 46 min 26 sec ago
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China used embassies to undermine Rafale sales after India-Pakistan conflict— French intelligence 

  • Pakistan says it downed five Indian planes during May fighting, including three Rafales
  • China’s defense ministry rejects French claims as “pure groundless rumors and slander”

PARIS: China deployed its embassies to spread doubts about the performance of French-made Rafale jets after they saw combat in India and Pakistan’s clashes in May, French military and intelligence officials have concluded, implicating Beijing in an effort to hammer the reputation and sales of France’s flagship fighter.

Findings from a French intelligence service seen by The Associated Press say defense attaches in China’s foreign embassies led a charge to undermine Rafale sales, seeking to persuade countries that have already ordered the French-made fighter — notably Indonesia — not to buy more and to encourage other potential buyers to choose Chinese-made planes.

The findings were shared with AP by a French military official on condition that the official and the intelligence service not be named.

Four days of India-Pakistan clashes in May were the most serious confrontation in years between the two nuclear-armed neighbors, and included air combat that involved dozens of aircraft from both sides. Military officials and researchers have since been digging for details of how Pakistan’s Chinese-made military hardware — particularly warplanes and air-combat missiles — fared against weaponry that India used in airstrikes on Pakistani targets, notably French-made Rafale fighters.

Sales of Rafales and other armaments are big business for France’s defense industry and help efforts by the government in Paris to strengthen ties with other nations, including in Asia where China is becoming the dominant regional power.

France is fighting what it calls a disinformation campaign against the Rafale.

Pakistan claimed its air force downed five Indian planes during the fighting, including three Rafales. French officials say that prompted questions about their performance from countries that have bought the fighter from French manufacturer Dassault Aviation.

India acknowledged aircraft losses but didn’t say how many. French air force chief Gen. Jérôme Bellanger said that he’s seen evidence pointing to just 3 Indian losses — a Rafale, a Russian-made Sukhoi and a Mirage 2000, which is an earlier generation French-made jet. It was the first known combat loss of a Rafale, which France has sold to eight countries.

“Of course, all those, the nations that bought Rafales, asked themselves questions,” Bellanger said.

French officials have been battling to protect the plane from reputational damage, pushing back against what they allege was a concerted campaign of Rafale-bashing and disinformation online from Pakistan and its ally China.

They say the campaign included viral posts on social media, manipulated imagery showing supposed Rafale debris, AI-generated content and video-game depictions to simulate supposed combat. More than 1,000 social media accounts newly created as the India-Pakistan clashes erupted also spread a narrative of Chinese technological superiority, according to French researchers who specialize in online disinformation.

French military officials say they haven’t been able to link the online Rafale-bashing directly to the Chinese government.

Intelligence assessment says Chinese officials lobbied potential clients to ditch French planes but the French intelligence service said Chinese embassy defense attaches echoed the same narrative in meetings they held with security and defense officials from other countries, arguing that Indian Air Force Rafales performed poorly and promoting Chinese-made weaponry.

The defense attaches focused their lobbying on countries that have ordered Rafales and other potential customer-nations that are considering purchases, the intelligence service said. It said French officials learned of the meetings from nations that were approached.

Asked by AP to comment on the alleged effort to dent the Rafale’s appeal, the Ministry of National Defense in Beijing said: “The relevant claims are pure groundless rumors and slander. China has consistently maintained a prudent and responsible approach to military exports, playing a constructive role in regional and global peace and stability.”

In recent years, China has stepped up disinformation campaigns on global social media platforms like X, Instagram or Facebook, using networks of state-sponsored influencers, sites that pose as news organizations, and fake social media accounts to spread narratives from Beijing.

France’s Defense Ministry said the Rafale was targeted by “a vast campaign of disinformation” that “sought to promote the superiority of alternative equipment, notably of Chinese design.”

’Strategic French offering’

“The Rafale was not randomly targeted. It is a highly capable fighter jet, exported abroad and deployed in a high-visibility theater,” the Defense Ministry wrote on its website.

“The Rafale was also targeted because it represents a strategic French offering. By attacking the aircraft, certain actors sought to undermine the credibility of France and its defense industrial and technological base. The disinformation campaign therefore did not merely target an aircraft, but more broadly a national image of strategic autonomy, industrial reliability, and solid partnerships.”

Dassault Aviation has sold 533 Rafales, including 323 for export to Egypt, India, Qatar, Greece, Croatia, the United Arab Emirates, Serbia and Indonesia. Indonesia has ordered 42 planes and is considering buying more.

China may be hoping to weaken the security relationships that France is building with Asian nations by spreading worries about the equipment it supplies, said Justin Bronk, an airpower specialist at the Royal United Services Institute, a defense and security think tank in London.

“From a point of view of limiting Western countries’ influence in the Indo-Pacific, it would make sense for China to be using the performance of Pakistani weapon systems — or at least purported performance — in downing at least one Rafale as a tool to undermine its attractiveness as an export,” he said.

“They certainly saw an opportunity to damage French sales prospects in the region.”


Thousands of security personnel, including army, deployed across Pakistan for Ashura processions

Updated 06 July 2025
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Thousands of security personnel, including army, deployed across Pakistan for Ashura processions

  • Punjab Police deploys over 134,000 personnel for the security of religious gatherings, processions
  • Militants in the past have targeted religious gatherings and processions in Pakistan during Muharram 

KARACHI: Thousands of security personnel have been deployed across the country today, Sunday, as mourners in Pakistan take out religious processions to pay tribute to Imam Hussain, the grandson of Prophet Muhammad (peace be upon him). 

Pakistan’s government takes stringent security measures every year in Muharram as militants have attacked religious processions during the Islamic month in the past. Hundreds of thousands of Shia Muslims organize religious processions in Muharram, especially on the 10th of the month, to pay tribute to Hussain, who was killed in the Battle of Karbala. 

In a statement on social media platform X, Punjab Police said its officers and personnel are performing their duties despite the rain and are using CCTV cameras to monitor processions. 

“Over 134,000 officers and personnel of the Punjab Police have been deployed for the security of processions and gatherings,” the statement said. 

It said over 10,000 police personnel have been deployed in the provincial capital of Lahore for the security of religious processions and gatherings on Ashura. 

Sindh Chief Minister Syed Murad Ali Shah’s office said over 1,400 processions were held in the province on Sunday under strict security arrangements. 

“Regarding security deployment, Murad Shah stated that approximately 50,000 police personnel were deployed across Sindh, with about 6,000 assigned specifically to the central procession,” the statement said.

In a separate statement, the office of Sindh’s deputy inspector general of police in Sukkur said three major processions will be held in Sukkur, Rohri and Pano Aqil areas today, in addition to 43 smaller and larger processions across the district. 

“To ensure security, over 4,000 male and female police personnel, along with Rangers and three standby army companies have been deployed,” the statement said. 

Islamabad Police spokesperson said 12 processions and 48 religious gatherings are being held across the capital city. The spokesperson said over 4,000 police officers and personnel have been deployed throughout the capital to ensure security.

Karachi’s police chief Javed Alam Odho told reporters that over 20,000 personnel have been deployed in various parts of the city for Muharram 10 rallies and processions. 

He said personnel of the Special Branch, Counterterrorism Department Sindh and the paramilitary Rangers were also performing security duties. 


Pakistan says focusing on agriculture, health care investments on World Rural Development Day

Updated 06 July 2025
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Pakistan says focusing on agriculture, health care investments on World Rural Development Day

  • About 64% of Pakistan’s population resides in rural areas, as per 2023 census 
  • These rural areas often lack education, health, Internet, water and sanitation facilities

ISLAMABAD: Prime Minister Shehbaz Sharif said on Sunday his government is focusing on improving the lives of citizens in rural areas through “targeted investments” in agriculture, health and education initiatives, as the international community marks World Rural Development Day today. 

According to Pakistan’s latest population census, about 64 percent of the country’s population resides in rural areas. These areas often lack health, education, clean drinking water, sanitation, Internet and other facilities.

Governments, civil society, international organizations and academic institutions are invited on July 6 every year to conduct concrete policy dialogues and grassroots initiatives to elevate rural voices and galvanize development efforts for people in the most remote places worldwide.

“Our government continues to prioritize inclusive rural development as a key pillar of national progress,” Sharif said in a message released by his office.

“In line with the Sustainable Development Goals, we are focusing on transforming rural livelihoods through targeted investments in agriculture, education, health care, infrastructure, skills training, and environmental sustainability,” he added.

Sharif noted Pakistan’s villages and farmlands uphold the region’s centuries-old values of resilience, cooperation and tradition, hailing their “invaluable contributions” to various sectors.

“Significant strides have been made from expanding rural road networks and improving water and sanitation access, to empowering women and promoting climate-smart farming practices,” the Pakistani premier said.

He added that such efforts by the government reflect its resolve to ensure “no part of Pakistan is left behind.”

“On this day, we renew our pledge to uplift our rural citizenry; supporting them as equal partners in shaping a stronger, more equitable, and prosperous Pakistan,” Sharif concluded.