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Former Pakistani Prime Minister Imran Khan pauses as he speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. REUTERS/Akhtar Soomro/File Photo Acquire Licensing RightsISLAMABAD, Aug 28 (Reuters) - A Pakistani court dismissed murder abetment charges against former Prime Minister Imran Khan on Monday, his lawyer said, providing some relief for the cricket hero turned politician who was jailed on corruption charges earlier this month. Khan had been charged in June with abetting the murder of Supreme Court lawyer Abdul Razzaq, who was killed in a drive-by shooting in the southwestern city of Quetta in the same month. Razzaq's son had accused Khan of being behind his father's murder. The political turmoil has caught Pakistan while the country has been struggling through one of its worst economic crises.

Persons: Imran Khan, Akhtar Soomro, Khan, Abdul Razzaq, Razzaq's, Naeem Panjutha, wasn't, Razzaq, Asif Shahzad, Simon Cameron, Moore Organizations: Pakistani, Reuters, REUTERS, Rights, Twitter, Thomson Locations: Lahore, Pakistan, Rights ISLAMABAD, Quetta, Islamabad

Children receive first aid after they were rescued from the stranded chairlift, in Battagram, Pakistan August 22, 2023. "I can't tell you what we experienced yesterday when one cable of the cable car suddenly snapped and we were stranded in the air," said Faraz, who at 20 years old was the only adult aboard, and the only person with a cell phone. The journey by cable car usually took just a matter of minutes, whereas travelling on the rough mountain roads and tracks takes hours. "Our first priority was to secure the children," caretaker Prime Minister Anwar ul Haq Kakar said, describing the feat as "near impossible". Those prayers were answered for Faraz and the children.

Persons: Gul Faraz, Faraz, Anwar ul Haq Kakar, Kakar, Mushtaq Ali n, Asif Shahzad, Simon Cameron, Moore, Andrew Heavens Organizations: REUTERS Acquire, Commandos, Geo, Reuters, Thomson Locations: Battagram, Pakistan, PESHAWAR, Jhangri, Battangi, Karachi, Mushtaq Ali n Peshawar, Islamabad

☆ Children stranded in chair lift 900 feet above ground in northern Pakistan
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

ISLAMABAD, Aug 22 (Reuters) - Eight people, including six school children, were trapped in a malfunctioning chair lift in northern Pakistan on Tuesday, officials said, and a military helicopter has been dispatched to rescue them. The children, who have been stranded since about 6 a.m local time (0100 GMT), were using the chair lift to get to school in a mountainous area in Battagram, about 200 kilometres (124 miles) north of Islamabad. "A cable broke in a chair lift service, following which people have been trapped 900 feet (274 metres) above the ground," Pakistan's National Disaster Management Authority said in a statement. It said an army helicopter had been moved to the area for a rescue operation after attempts at fixing the fault had been unsuccessful. Reporting by Asif Shahzad in Islamabad and Mushtaq Ali in Peshawar; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Asif Shahzad, Mushtaq Ali, Sharon Singleton Organizations: Disaster Management Authority, Thomson Locations: ISLAMABAD, Pakistan, Battagram, Islamabad, Peshawar

Former Pakistani Prime Minister Imran Khan speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. REUTERS/Akhtar Soomro/File Photo Acquire Licensing RightsISLAMABAD, Aug 21 (Reuters) - Pakistani authorities have opened a criminal investigation against jailed former prime minister Imran Khan on charges of leaking state secrets, after naming him and three aides in a fresh case, a top security source said on Monday. Khan is currently serving a three-year sentence in a graft case and has been barred from politics for five years. "Our investigation is collecting evidence to stand a case in a court to indict Imran Khan on charges of leaking official secrets," a security source, who is directly responsible for the investigation, told Reuters. Khan has formally been arrested in connection with the charges, which the Federal Investigation Agency (FIA) is probing, the source said.

Persons: Imran Khan, Akhtar Soomro, Khan, Rauf Hasan, Zulfi Bukhari, Arif Alvi, Shah Mehmood Qureshi, Intazar Panjutha, Asif Shahzad, Devika Organizations: Pakistani, Reuters, REUTERS, Rights, Both Washington, Federal Investigation Agency, FIA, Thomson Locations: Lahore, Pakistan, Rights ISLAMABAD, Islamabad, Washington, U.S, Moscow, Ukraine, Both

☆ Troops deployed to guard Pakistani Christians after mob torches churches
▼ + stars: | 2023-08-17 | by ( Mubasher Bukhari | ) www.reuters.com time to read: +2 min

The rioters were demanding that the two accused, who had fled their homes, be handed over to them. The residents said thousands of Muslims led by local clerics were carrying iron rods, sticks, knives and daggers during the rioting. A provincial government statement said paramilitary troops were deployed to aid the police to control the situation. The troops have cordoned off the Christian colony, blocking all entry and exit points with barbed wire, according to a Reuters TV cameraman. The United States was "deeply concerned that churches and homes were targeted," State Department Deputy Spokesperson Vedant Patel said on Wednesday.

Persons: Vedant Patel, Asif Shahzad, Raju Gopalakrishnan Organizations: Police, Reuters, State Department, Thomson Locations: LAHORE, Pakistan, desecrating, Jaranwala, Faisalabad, United States

The rioters were demanding that the two accused men, who had fled their homes, be handed over to them. The troops have cordoned off the Christian colony, blocking all entry and exit points with barbed wire, according to a Reuters TV cameraman. Hundreds of Christians took refuge in a nearby district, a community leader Akmal Bhatti told Reuters, adding that four pastors had returned to the churches, which were still smouldering. "It is the government's responsibility to compensate for the loss of property of the Christian community," he told reporters, adding the government was estimating the losses. The United States was "deeply concerned that churches and homes were targeted," State Department Deputy Spokesperson Vedant Patel said on Wednesday.

Persons: Christian, Akmal Bhatti, Bhatti, Mohsi Naqvi, Vedant Patel, Asif Shahzad, Raju Gopalakrishnan, Simon Cameron, Moore, Alexandra Hudson Organizations: Police, Reuters, Amnesty, State Department, Alexandra Hudson Our, Thomson Locations: LAHORE, Pakistan, Jaranwala, Faisalabad, United States, Islamabad

The two Christians were accused of blasphemy, he said, adding they and family members had fled their homes. Blasphemy is punishable by death in Pakistan and though no one has ever been executed for it, numerous accused people have been lynched by outraged crowds. A Christian leader, Akmal Bhatti, said the crowd had "torched" at least five churches and looted valuables from houses that had been abandoned by their owners. Several social media posts showed some churches, houses and belongings on fire as police stood by. The mob was made up of thousands of people led by local clerics, mainly from an Islamist political party called Tehreek-e-Labaik Pakistan (TLP), a government source said.

Persons: Naveed Ahmad, Shakil Masih, Usman Anwar, Anwar ul Haq Kakar, Akmal Bhatti, Asif Shahzad, Angus MacSwan, Nick Macfie Organizations: Reuters, REUTERS, REUTERS Acquire, Caretaker, Thomson Locations: LAHORE, Pakistan, Jaranwala, Faisalabad, Islamabad

[1/2] A man reads a newspaper, a day after Pakistan's parliament was dissolved by the president on Prime Minister Shehbaz Sharif's advice, at a makeshift stall in Karachi, Pakistan August 10, 2023. As it stands, former prime minister Imran Khan, the main opposition leader, cannot fight this election. There are three main contenders to lead the next government: Khan's PTI, the Pakistan Muslim League-Nawaz (PML-N) of Shehbaz Sharif and the Pakistan Peoples Party (PPP). Three-time premier Nawaz Sharif, the brother of the outgoing prime minister and whose PML-N was the senior partner in the outgoing coalition government, is seeking a return from exile. Bilawal Bhutto Zardari, 34, the young chairman of the PPP and son of former prime minister Benazir Bhutto, is another key candidate.

Persons: Shehbaz, Akhtar Soomro, Anwaar, Haq Kakar, IMRAN KHAN, Imran Khan, Khan, Nawaz Sharif, Bilawal Bhutto Zardari, Benazir Bhutto, Khan's jailing, Asif Shahzad, Gibran Peshimam, Raju Gopalakrishnan, Giles Elgood Organizations: REUTERS, BE, Monetary Fund, IMF, Balochistan Awami Party, WHO, PTI, Pakistan Muslim League, Nawaz, Pakistan Peoples Party, Constitutional, Thomson Locations: Karachi, Pakistan, Balochistan, Shehbaz Sharif

ISLAMABAD, Aug 10 (Reuters) - Pakistan's outgoing prime minister, Shehbaz Sharif, and the leader of the opposition will on Thursday meet to pick a caretaker leader to oversee a general election due by November, a government official said. Sharif and opposition leader Raja Riaz will meet in the afternoon, said the official in the prime minister's office, who declined to be identified pending the announcement of the meeting. Under the constitution, the two have three days to reach agreement on a caretaker. If they can't, the decision will go to a parliamentary committee, and if it can't, then the Election Commission of Pakistan will decide. The lower house of parliament was dissolved on Wednesday, three days before the end of its five-year term on Aug. 12.

Persons: Shehbaz Sharif, Sharif, Raja Riaz, Imran Khan, Asif Shahzad, Robert Birsel Organizations: Thomson Locations: ISLAMABAD, Pakistan

The parliament's five-year term is due to expire on Aug. 12, but this move would dissolve it three days earlier. "I will tonight advise the president to dissolve the parliament," the premier told parliament. He said he would start discussions with the opposition leader on Thursday to pick a name from candidate lists of both sides to nominate as caretaker prime minister. The vote, however, could be delayed several months with the election commission set to start redrawing hundreds of constituencies based on a fresh census. The last general election in July 2018 was won by the party of cricketer-turned-politician Imran Khan, who was sworn in days later as prime minister for the first time.

Persons: Shehbaz Sharif, Arif Alvi, Imran Khan, Khan, Sharif, Asif Shahzad, Gibran Peshimam, Andrew Heavens, Bernadette Baum Organizations: Pakistan, International Monetary Fund, Thomson Locations: ISLAMABAD, Pakistan, Islamabad, Karachi

[1/3] Pakistan's former Prime Minister Imran Khan, gestures as he speaks to the members of the media at his residence in Lahore, Pakistan May 18, 2023. REUTERS/Mohsin Raza//File PhotoISLAMABAD, Aug 9 (Reuters) - A Pakistani high court on Wednesday turned down an appeal by jailed former prime minister Imran Khan that his conviction on corruption charges be suspended, his lawyer said, suggesting it was unlikely he would be released on bail anytime soon. The case was adjourned for an indefinite time, Panjutha said, adding; "Our request to suspend the conviction wasn't accepted." Khan, who has denied any wrongdoing, was arrested at his Lahore house and is currently in a prison near Islamabad. Reporting by Asif Shahzad, Editing by Raju Gopalakrishnan, Nick Macfie and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Imran Khan, Mohsin Raza, Khan, Naeem Panjutha, Panjutha, wasn't, Asif Shahzad, Raju Gopalakrishnan, Nick Macfie, Bernadette Baum Organizations: REUTERS, Thomson Locations: Lahore, Pakistan, ISLAMABAD, Rawalpindi, Islamabad

Former Pakistani Prime Minister Imran Khan pauses as he speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. REUTERS/Akhtar Soomro/File PhotoISLAMABAD, Aug 8 (Reuters) - Pakistan's former prime minister Imran Khan challenged his conviction on graft charges in a high court on Tuesday, his lawyer said. Naeem Panjutha said the petition to challenge the weekend conviction had been filed in the Islamabad High court. Khan has been jailed for three years on charges of selling state gifts unlawfully during his tenure as premier from 2018 to 2022. The former premier has been detained at a distant prison which according to his lawyers lacks facilities entitled to political prisoners.

Persons: Imran Khan, Akhtar Soomro, Naeem Panjutha, Khan, Khan's, Asif Shahzad, Kim Coghill Organizations: Pakistani, Reuters, REUTERS, Police, Thomson Locations: Lahore, Pakistan, ISLAMABAD, Islamabad, Attock district

Former Pakistani Prime Minister Imran Khan pauses as he speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. REUTERS/Akhtar Soomro/File PhotoISLAMABAD, Aug 7 (Reuters) - Lawyers for Pakistan's jailed former prime minister Imran Khan will be allowed to meet him on Monday before they file an appeal against a graft conviction that has landed the former cricket star in jail, one of his lawyers said. "The jail authorities have given us a time to meet Imran Khan at 12:30 p.m. (0730 GMT). We've reached Attock jail," one of his lawyers, Naeem Panjhuta, said, adding that an appeal against the graft conviction would be filed after Khan completed paperwork. Khan's legal team is also appealing to authorities to secure him better conditions in jail, Panjhuta told reporters in Islamabad earlier.

Persons: Imran Khan, Akhtar Soomro, Pakistan's, Khan, Naeem Panjhuta, Panjhuta, Shehbaz Sharif, Asif Shahzad, Robert Birsel Organizations: Pakistani, Reuters, REUTERS, Police, Monetary, Thomson Locations: Lahore, Pakistan, ISLAMABAD, Attock district, Islamabad, We've, Attock

A Pakistan International Airlines (PIA) passenger plane prepares to take off from the Benazir International airport in Islamabad, Pakistan, February 9, 2016. REUTERS/Faisal Mahmood/File PhotoISLAMABAD, Aug 7 (Reuters) - Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines (PIAa.PSX), the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister Ishaq Dar. The committee "after deliberation decided to include Pakistan International Airlines Co. Ltd in the list of active privatisation projects of the ongoing privatisation programme, following an amendment in the law by the Parliament," a finance ministry statement said. Pakistan hopes to resume PIA flights to Britain in the next three months after services were suspended following a fake pilot scandal.

Persons: Faisal Mahmood, Ishaq Dar, Asif Shahzad, Baranjot Kaur, David Goodman, Mark Potter, Alistair Bell Organizations: Pakistan International Airlines, PIA, Benazir, REUTERS, Finance, Pakistan International Airlines Co . Ltd, PIAInvestment, European Union's Aviation Safety Agency, International Monetary Fund, Pakistan, Baranjot, Thomson Locations: Islamabad, Pakistan, ISLAMABAD, , New York, Britain, Europe, Bengaluru

Former Pakistani Prime Minister Imran Khan pauses as he speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. REUTERS/Akhtar Soomro/File PhotoISLAMABAD, Aug 4 (Reuters) - A Pakistan high court on Friday temporarily halted former Prime Minister Imran Khan's trial on charges he illegally sold state gifts, his lawyer said, in a case that could end the opposition leader's political career if convicted. Khan's legal team had challenged the commission's complaint, arguing that it was not a criminal case and that the judge conducting the trial was biased against Khan. The high court, however, turned down Khan's appeal to remove the trial court judge from hearing the case. The trial, which is in its final stage, relates to an inquiry conducted by the election commission which found Khan guilty of unlawfully selling state gifts during his tenure as prime minister from 2018 to 2022.

Persons: Imran Khan, Akhtar Soomro, Imran Khan's, Khan, Naeem Panjhuta, Farrukh Habib, Asif Shahzad, Jason Neely, Miral Fahmy, Sharon Singleton Organizations: Pakistani, Reuters, REUTERS, Thomson Locations: Lahore, Pakistan, ISLAMABAD, Dubai

Pakistan's Prime Minister Shehbaz Sharif, addresses the 23rd Shanghai Cooperation Organization (SCO) Summit, hosted virtually by India, in Islamabad, Pakistan July 4, 2023. Press Information Department (PID)/Handout via REUTERS /File PhotoISLAMABAD, Aug 4 (Reuters) - Pakistani Prime Minister Shehbaz Sharif has proposed that parliament be dissolved on Aug. 9, three days before the end of its term, political sources said on Friday, paving the way for a general election by November. Parliament's five-year term is set to expire on Aug. 12. Sharif's coalition came to power after former cricket star Khan was ousted in a vote of no confidence in April 2022. The military, which has ruled Pakistan for about half its history, denies that.

Persons: Shehbaz Sharif, Imran Khan, Khan, Asif Shahzad, Robert Birsel Organizations: Pakistan's, Shanghai Cooperation Organization, SCO, Summit, Press Information Department, REUTERS, Pakistani, Sharif, Thursday, Reuters, Information, Monetary, Thomson Locations: India, Islamabad, Pakistan, ISLAMABAD

Companies International Monetary Fund FollowISLAMABAD, Aug 1 (Reuters) - Pakistan announced an increase in petrol and diesel prices on Tuesday to better reflect rising international prices and to raise revenue to meet the objectives of an International Monetary Fund (IMF) bailout. In a recorded video statement, Finance Minister Ishaq Dar said gasoline, or petrol, prices would be raised by 19.95 Pakistani rupees to 272.95 Pakistani rupees ($0.952) per litre and diesel by 19.90 rupees to 273.40 rupees per litre, an increase of 7.8% for both fuels. Fuel prices have increased sharply in global markets in the last 15 days, Dar said, adding his government had tried to minimise the hike. The IMF has also called on Pakistan to maintain a tight monetary policy. The central bank on Monday, however, kept the policy rate steady at 22%, with its governor saying the lender's requirement of tight policy didn't necessarily mean raising the rate.

Persons: Ishaq Dar, Dar, Asif Shahzad, Kim Coghill, Jamie Freed, Christian Organizations: International Monetary, International Monetary Fund, Brent, IMF, Thomson Locations: Pakistan, Islamabad

☆ Pakistan suicide bombing death toll rises to 45
▼ + stars: | 2023-07-31 | by ( Saud Mehsud | ) www.reuters.com time to read: +2 min

DERA ISMAIL KHAN, Pakistan, July 31 (Reuters) - The death toll in a suicide bombing at a political rally held by a religious party rose to 45 on Monday, officials said, an attack compounding fears of unrest ahead of a general election due later in the year. An official at a state-run rescue agency, Bilal Faizi, said the death toll had risen to 45. A general view of damaged property, following an explosion by a suicide bomber in Bajaur, Pakistan July 31, 2023 in this screen grab taken from a social media video. Bilal Yasir/via REUTERSPakistan has seen a resurgence of attacks by Islamist militants since last year when a ceasefire between the Pakistani Taliban, the Tehreek-e-Taliban Pakistan (TTP), and the government broke down. A mosque bombing in Peshawar city in the northwest killed more than 100 people in January but attacks on political parties are rare.

Persons: DERA ISMAIL, Fazl, Bilal Faizi, Riaz Anwar, Bilal Yasir, Shehbaz Sharif, Asif Shahzad, Robert Birsel Organizations: Ulema, Islamic, REUTERS, Taliban, Thomson Locations: DERA ISMAIL KHAN, Pakistan, Bajaur, Afghanistan, REUTERS Pakistan, Taliban Pakistan, Peshawar city

"Chinese Exim bank rolled over principal amounts totalling $2.4 bln which are due in next 2 fiscal years," he said in a post on messaging platform X, formerly known as Twitter. "Pakistan will make interest payments only over the next two years," Dar said, meaning the wavier is only for the principal loan amount. "In principle, China and Pakistan have close cooperation in economic and financial sectors, and we will continue to advance cooperation with Pakistan to support the country in achieving stability and development," Chinese Foreign Ministry spokesperson Mao Ning said. The IMF team this month met the leadership of all political parties, including former Prime Minister Imran Khan, to seek a continuation of its bailout objectives irrespective of who comes to power. Reporting by Asif Shahzad; Additional Reporting by Andrew Hayley in Beijing; Editing by Tom Hogue and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Ishaq Dar, Dar, Mao Ning, Shehbaz Sharif, Imran Khan, Asif Shahzad, Andrew Hayley, Tom Hogue, Christopher Cushing Organizations: Pakistan Finance, Reuters, Foreign Ministry, Longtime, Beijing, Initiative, International Monetary Fund, United, United Arab Emirates, IMF, Thomson Locations: Islamabad, Pakistan, ISLAMABAD, China, Saudi Arabia, United Arab, Beijing

ISLAMABAD, July 26 (Reuters) - Pakistan's Supreme Court on Wednesday rejected former prime minister Imran Khan's plea that his trial on charges of unlawfully selling state gifts be halted on concerns over the merits of the trial and that the judge hearing it was biased. The Supreme Court asked Khan to go back to the Islamabad High Court to seek a ruling over his objections, according to an order seen by a Reuters reporter who attended the top court's proceedings. Khan's legal team moved to the top court this month after the high court ruled against their plea that the trial couldn't be maintained on the election commission's petition, according to Khan's lawyer Barrister Gohar Khan. The Supreme Court cannot interfere in the trial court proceedings, said one judge on the two-member panel of the top court, which disposed of Khan's petition, directing the high court to hear all his petitions related to the trial. The trial court had indicted Khan in May on the charges and summoned him to commence his formal trial, which is now pending due to the challenge by his legal team in the high court.

Persons: Imran Khan's, Khan, Gohar Khan, Asif Shahzad, Bernadette Baum Organizations: Court, Thomson Locations: ISLAMABAD, Islamabad, Pakistan

ISLAMABAD, July 20 (Reuters) - Ukrainian Foreign Minister Dmytro Kuleba on Thursday called for the Black Sea grain initiative to be restored to meet the challenge of global food insecurity. "It is not only in our interest but in the world's interest that this grain initiative is restored," Zardari said. The Black Sea grain deal expired on Monday after Russia quit, despite a U.N. offer to President Vladimir Putin to re-establish access for a Russian bank to the SWIFT international payment system in return for an extension. The U.N. estimates the grain deal lowered food prices globally by 20%. Russia has warned that ships sailing to the Ukrainian Black Sea ports from Thursday will be seen as potential military targets.

Persons: Dmytro Kuleba, Bilawal Bhutto Zardari, General Antonio Guterres, Zardari, Russia, Vladimir Putin, Kuleba, Asif Shahzad, David Evans, Sharon Singleton Organizations: Ukrainian, United Nations, Thomson, Reuters Locations: ISLAMABAD, Islamabad, Kyiv, Russia, Moscow, Pakistan, Russian, Chornomorsk, China, Ukraine, Ukrainian, Shahid, Karachi

ISLAMABAD, July 19 (Reuters) - Pakistan will open criminal proceedings against former prime minister Imran Khan on charges of exposing official secrets, Interior Minister Rana Sanaullah said on Wednesday, the latest in a string of cases the former premier has been facing. The case is related to diplomatic correspondence between Washington and Islamabad, which Khan said early last year was part of a U.S. conspiracy to topple his government. Sanaullah said the principal secretary also testified that Khan told him he had lost the copy of the letter when he was asked for its return. "It is a crime to expose an official secret," the interior minister said, adding the state will be filing the charges in the court against Khan. The secrecy charge is the latest in a multitude of charges Khan has faced since his ouster, including graft, murder and sedition.

Persons: Imran Khan, Rana Sanaullah, Khan, Azam Khan, Sanaullah, Washington, Asif Shahzad, Andrew Heavens, Tomasz Janowski, Alexandra Hudson Organizations: Washington, Alexandra Hudson Our, Thomson Locations: ISLAMABAD, Pakistan, Washington, Islamabad, U.S, Moscow, Russia, Ukraine

SummaryCompanies Trial of first cargo a success - ministerPrivate refinery PARCO also asked to buy Russian oil - ministerDiscounted crude a boost amid Pakistan's strained financesISLAMABAD, July 12 (Reuters) - Pakistan is negotiating to buy a second shipment of discounted Russian crude oil, its petroleum minister said on Wednesday, highlighting the success of a first deal in helping the cash-starved nation. Musadiq Malik told reporters there was no scenario under which the country was "not benefiting" from Russian crude. "It will still benefit us," he said of the Russian oil. Malik said private entity Pak-Arab Refinery Limited (PARCO) had also been asked to import Russian crude. Islamabad is looking for Russian crude to account for one third of total oil imports.

Persons: Musadiq Malik, Malik, Asif Shahzad, Shivam Patel, Toby Chopra, Mark Potter Organizations: PARCO, Pakistan Refinery Limited, International Monetary Fund, Moscow, Arab Refinery, Energy, United, Thomson Locations: ISLAMABAD, Pakistan, Urals, Karachi, Russian, India, China, Ukraine, Moscow, Islamabad, Saudi Arabia, United Arab Emirates

☆ Saudi Arabia sends Pakistan $2 bln in financial support
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: 1 min

ISLAMABAD, July 11 (Reuters) - Saudi Arabia has sent $2 billion to Pakistan's central bank, the South Asian nation's finance minister said on Tuesday, another boost for its ailing economy after an IMF bailout. "I thank Saudi Arabia on behalf of the prime minister and army chief," Finance Minister Ishaq Dar said in a recorded video statement. Saudi Arabia pledged the money and then waited for the aid package from the International Monetary Fund to go ahead before depositing it with the State Bank of Pakistan. The financial support will help to shore up the central bank's depleted foreign exchange reserves, which had dipped to cover barely a month of controlled imports. Islamabad secured a last-gasp $3 billion IMF bailout on the last day of June.

Persons: Ishaq Dar, Asif Shahzad, Sakshi Dayal, Tom Hogue Organizations: International Monetary Fund, State Bank of Pakistan, Thomson Locations: ISLAMABAD, Saudi Arabia, Islamabad

[1/3] Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. REUTERS/Akhtar SoomroKARACHI, July 3 (Reuters) - Pakistan's benchmark share index scored its biggest single-day jump in 15 years on Monday, gaining 5.9% on the first trading session after the country secured a last-gasp funding deal from the International Monetary Fund (IMF). The KSE 100 index (.KSE) closed up 2,442.06 points at 43,894.7, marking its biggest percentage gain since June 24, 2008, when it rose 8.6%, as per Refinitiv data. "Today's gain in the benchmark KSE 100 Index will likely to be highest in the history of Pakistan Stock exchange," it said. Several automakers including Pakistan Suzuki Motor Co (PKSU.PSX) had announced prolonged plant closures in 2023, citing import restrictions.

Persons: Akhtar Soomro, Shehbaz Sharif, Muhammad Iqbal Jawaid, Arif Habib, HCAR, Asif Shahzad, Swati Bhat, Lincoln, David Holmes Organizations: Pakistan Stock Exchange, REUTERS, International Monetary Fund, IMF, Topline Securities, Pakistan Stock, Pakistan, U.S ., Pakistan Suzuki Motor, Honda, Pakistan Suzuki, Indus, Toyota, Auto, Arif, Arif Habib Ltd, Thomson Locations: Karachi, Pakistan, Akhtar Soomro KARACHI

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