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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

☆ 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

[1/2] Rescue workers and other people transport an injured person to the hospital, after a blast in Bajaur district of Khyber Pakhtunkhwa, Pakistan July 30, 2023. Rescue 1122/Handout via REUTERSDERA ISMAIL KHAN, Pakistan, July 30 (Reuters) - At least 40 people were killed and over 130 injured when a suicide bomber set off explosives at a political rally in Pakistan's northwestern Khyber Pakhtunkhwa province on Sunday, police said. The provincial police chief Akhtar Hayat told Reuters the explosion was caused by a suicide bomb. "The JUI-F organised a workers convention in Khar town of Bajaur in which 40 people lost their lives and more than 130 were injured," Khan said. Pakistan has seen a resurgence of attacks by Islamist militants since last year when a ceasefire between the Tehreek-e-Taliban Pakistan (TTP) and Islamabad broke down.

Persons: DERA ISMAIL, Fazl, Akhtar Hayat, Nazir Khan, Khan, Zabihullah Mujahid, Shehbaz Sharif, Saud Mehsud, Dera Ismail Khan, Jibran Ahmad, Nilutpal, Gibran Peshimam, Andrew Cawthorne, Christina Fincher Organizations: Sunday, Ulema, Reuters, Thomson Locations: Bajaur district, Khyber Pakhtunkhwa, Pakistan, DERA ISMAIL KHAN, Bajaur, Afghanistan, Peshawar, Khar, Taliban Pakistan, Islamabad, Islamic State

"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

☆ Pakistan to sell contract to run Islamabad airport
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

KARACHI, Pakistan, July 20 (Reuters) - Pakistan is to proceed with the sale via tender of a contract to manage Islamabad airport after consultations with the International Finance Corporation (IFC), the Ministry of Finance said on Thursday. In March Pakistan had kicked off the outsourcing of operations at three major airports and the ministry said Islamabad airport was the first of these to be affected, as the country seeks to generate foreign exchange reserves for its ailing economy. In a statement the ministry said it had been unanimously agreed for the outsourcing of operations at Islamabad airport to go ahead in order to improve service delivery in line with best industry practices. Officials say Pakistan has been in talks with Qatar to jointly run the terminals at Islamabad, Karachi and Lahore airports. The Qatar Investment Authority pledged to invest $3 billion in Pakistan after Prime Minister Shehbaz Sharif visited Doha late last year.

Persons: Shehbaz Sharif, Ariba Shahid, David Holmes Organizations: International Finance Corporation, IFC, Ministry of Finance, Pakistan, Qatar Investment Authority, Thomson Locations: KARACHI, Pakistan, Islamabad, Qatar, Karachi, Lahore, Doha

☆ Soaring temperatures to record rainfall: flooding ravages East Asia as climate crisis takes hold
▼ + stars: | 2023-07-17 | by ( Heather Chen | ) edition.cnn.com time to read: +8 min

Record temperatures also led to a rise in heat-related illnesses, particularly among vulnerable communities such as the elderly. In response to the loss of life, South Korean President Yoon Suk Yeol called for an overhaul of the country’s approach to extreme weather. “This kind of extreme weather event will become commonplace — we must accept climate change is happening, and deal with it,” Yoon said Monday. A vulnerable regionScientists have warned the frequency and intensity of extreme weather events will continue to increase as the human-caused climate crisis accelerates. “Floods, droughts and other devastating climate events are “all showing us very clearly what will the future be,” she added.

Persons: Yoon Suk, ” Yoon, ”, John Kerry, Reuters Heatwaves, Shehbaz Sharif, Manish Swarup, —, “, Sunita Narain Organizations: Hong Kong CNN, CNN, Japan’s Meteorological Agency, Reuters, World Meteorological Organization, ”, United Nations General Assembly, Disaster, World Bank, Centre for Science Locations: Hong Kong, Japan, China, South Korea, India, South Korean, Cheongju, Philippines, Cambodia, Manila, Phnom Penh, Delhi, Beijing, Washington, Chongqing, Kiryu, Gunma Prefecture, Kyoto, Tokyo, Hatoyama, Saitama Prefecture, Asia, Pakistan, New Delhi, Himachal Pradesh, Assam, Uttarakhand, Punjab, Haryana, Uttar Pradesh, “

☆ Pakistan: IMF approves $3 billion bailout for cash-starved country
▼ + stars: | 2023-07-12 | by ( ) edition.cnn.com time to read: +3 min

Islamabad Reuters —The International Monetary Fund’s board approved a $3 billion bailout program for Pakistan which will immediately disburse about $1.2 billion to help stabilize the South Asian ailing economy, the lender said on Wednesday. Pakistan and the fund reached a staff level agreement last month, securing a short-term pact, which got more than expected funding for the country of 230 million people. The country has faced an acute balance of payments crisis with only enough central bank reserves to cover barely a month of controlled imports. Longtime allies Saudi Arabia and United Arab Emirates have deposited $3 billion in Pakistan’s central bank in the last two days. Sharif said China had rolled over $5 billion in loans in the last three months to save his country from default.

Persons: “, Shehbaz Sharif, ”, Sharif, Fitch Organizations: Islamabad Reuters, Monetary, IMF, “, Longtime, United, CCC Locations: Islamabad, Pakistan, Saudi Arabia, United Arab Emirates, China

☆ Pakistan's Imran Khan expresses support for bailout deal in IMF meeting
▼ + stars: | 2023-07-07 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +4 min

Hammad Azhar, a former finance minister under Khan, who attended the meeting virtually, said in a post on Twitter that the former premier and his economic team had discussed last week's staff-level deal between the IMF and Pakistan's government. The new deal, which will be vital to help stabilise Pakistan's struggling $350 billion economy, will be taken up for approval by the IMF board on July 12. Khan's government deviated from agreements under an earlier IMF programme days before he was ousted in a parliamentary vote last year, leading to a delay in the implementation of the programme and increased economic uncertainty. The meeting is the highest profile engagement for Khan and his the PTI since he was ousted from power less than four years into his five-year term. Many of Khan's key aides remain under arrest and many others, like Azhar, are in hiding.

Persons: Khan, Imran Khan, Hammad Azhar, Azhar, Nathan Porter, Esther Perez Ruiz, Shehbaz Sharif, Gibran Peshimam, William Maclean, David Holmes Organizations: International Monetary Fund, IMF, Twitter, Mission, Khan's, PTI, Thomson Locations: KARACHI, Pakistan, Lahore

Putin spoke to Modi in a call last week to discuss the aftermath of the quashed mercenary mutiny. The summit on Tuesday will also see Modi sharing the virtual stage with Xi for the first time since November when the two leaders were present for the G20 summit in Indonesia. It will also bring Modi face to face online with his Pakistani counterpart Shehbaz Sharif, 10 months after they both attended the SCO summit in Uzbekistan. New Delhi announced last month that the summit will be held virtually, without providing any justification. SCO member nations are expected to discuss Afghanistan, terrorism, regional security, climate change and digital inclusion, among other topics.

Persons: Xi Jinping, Vladimir Putin, Wagner, Narendra Modi, Joe Biden, Putin, Modi, Uzbekistan Modi, Xi, Biden, Shehbaz Sharif, Krishn Kaushik, William Maclean Organizations: Shanghai Cooperation Organisation, Belarus, China’s, SCO, Indian, U.S, Foreign, Thomson Locations: DELHI, India, Iran, China, Russia, Soviet, Pakistan, Eurasia, Belarus, Moscow, Europe, Asia, Ukraine, Uzbekistan, New Delhi, Indonesia, Uzbekistan . New Delhi, Kazakhstan, Afghanistan, Goa, Kashmir

[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

It is not the end of our relationship with the IMF though, as the SBA is a short-term bridging operation. GARETH LEATHER, SENIOR ASIA ECONOMIST AT CAPITAL ECONOMICS, LONDON"The agreement of a loan deal between Pakistan and the IMF should put the economy back on a more secure footing and limit the biggest downside risks. There is a strong risk that Pakistan reneges on the deal once the immediate crisis has passed. Our target shall be that the next IMF programme should be the last one and it would be a great opportunity to correct our fiscal account once and for all." "Things would have been much better if successive governments would have invested in completing the IMF programme.

Persons: MURTAZA SYED, GARETH, Shehbaz Sharif, ABDUL ALEEM, SHERANI, SHAHBAZ ASHRAF, MAHA RAHMAN, ZAFAR MASUD, MUSTAFA PASHA, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, MOHAMMED SOHAIL, AHFAZ MUSTAFA, ISMAIL IQBAL, SAJID AMIN JAVED, Ariba Shahid, Shilpa Jamkhandikar, Raju Gopalakrishnan Organizations: Monetary Fund, South, IMF, BANK OF PAKISTAN, SBA, State Bank, EFF, Capital, UL HAQ, OF PUNJAB, Pakistan, ARIF, Thomson Locations: Pakistan, ASIA, KARACHI, ISLAMABAD, LAHORE, PAKISTAN

Islamabad was racing against time to unlock $1.1 billion under the IMF's ninth review of a $6.5-billion Extended Fund Facility agreed upon in 2019. The Pakistan government was expecting around $2.5 billion from the IMF, Reuters has reported. PROCESSESPakistan earlier cleared eight of the 11 listed programme reviews, with the ninth review pending since November last year. HOLE IN FINANCESThe government has earmarked $2.5 billion in external receipts from the IMF in its federal budget for FY24. Pakistan needs upwards of $22 billion to service external debt, make interest payments, and finance its current account for FY24.

Persons: Shehbaz Sharif, Ariba Shahid, Raju Gopalakrishnan Organizations: Monetary Fund, IMF, IMF’s, Reuters, Pakistan, CCC, United, Thomson Locations: KARACHI, Pakistan, Islamabad, PAKISTAN, Caa3, Fitch, Saudi Arabia, United Arab Emirates, China, Karachi

☆ Pakistan, IMF reach staff-level pact to release stalled funds
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] Pakistan Prime Minister Shehbaz Sharif meets with managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in Paris, France June 22, 2023. Press Information Department (PID)/Handout via REUTERS/File PhotoISLAMABAD, June 30 (Reuters) - The International Monetary Fund (IMF) reached a staff-level pact with the IMF on a $3-billion stand-by agreement, the lender said on Thursday, a decision long awaited by the South Asian nation, which is teetering on the brink of default. The deal, subject to approval by the IMF board, comes after an eight-month delay and offers some respite to Pakistan, which is battling an acute balance of payments crisis and falling foreign exchange reserves. "The new standby agreement builds on the authorities' efforts under Pakistan's 2019 Extended Fund Facility-supported program which expires end-June," said IMF official Nathan Porter. Reporting by Jahnavi Nidumolu; Writing by Shivam Patel and Asif Shahzad; Editing by Clarence Fernandez and Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Shehbaz Sharif, Kristalina Georgieva, Nathan Porter, Jahnavi Nidumolu, Shivam Patel, Asif Shahzad, Clarence Fernandez, Himani Organizations: Pakistan, International Monetary Fund, Press Information Department, REUTERS, Monetary Fund, IMF, South, Thomson Locations: Paris, France, ISLAMABAD, Pakistan

☆ Pakistan's last-gasp IMF bailout as it happened
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

-Nov 2023: Pakistan, IMF begin virtual engagement for the ninth review of the loan programme. -Jan 2023: Pakistan reiterates commitment to completing the IMF programme in a meeting on the sidelines of a climate conference in Geneva. -Feb 2023: Pakistan, IMF decide to resume talks virtually on steps needed to secure an agreement for the ninth review. -May 2023: IMF mission chief says continuing to work with Pakistani authorities to bring the ninth review to conclusion once necessary financing is in place. -June 26, 2023: Pakistan's central bank raises its benchmark interest rate by 100 basis points to 22% at an emergency meeting days before IMF programme expires.

Persons: Imran Khan, Shehbaz Sharif, Miftah Ismail, Ishaq Dar, Pakistan's, Kristalina Georgieva, Ariba Shahid, Tanvi Mehta, Raju Gopalakrishnan Organizations: International Monetary Fund, IMF, Pakistan, SBA, EFF, Thomson Locations: KARACHI, Pakistan, Geneva, Paris, Pakistan's, Karachi, New Delhi

☆ Pakistan hopes for bailout decision in day or two as IMF seeks deal 'quickly'
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +3 min

[1/2] Pakistan's Prime Minister Shehbaz Sharif attends a summit on climate resilience in Pakistan, months after deadly floods in the country, at the United Nations, in Geneva, Switzerland, January 9, 2023. "The IMF team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the IMF," mission chief Nathan Porter said. Prime Minister Shehbaz Sharif said earlier in the day that he hoped consensus over the IMF programme's points "will lead to a decision in a day or two". The statement from the prime minister's office added that Sharif spoke to IMF Managing Director Kristalina Georgieva about the country's bailout funds, stalled since November. The IMF funds subject to approval by its board promise respite for Pakistan, which is battling its worst economic meltdown, with an acute balance of payments crisis and falling reserves of foreign exchange.

Persons: Shehbaz Sharif, Denis Balibouse, Ishaq Dar, Nathan Porter, Sharif, Kristalina Georgieva, Dar, Asif Shahzad, Ariba Shahid, Gibran Naiyyar Peshimam, Shivam Patel, Charlotte Greenfield, Krishna N, Das, William Maclean, Mark Potter Organizations: Pakistan's, United Nations, REUTERS, Pakistan, International Monetary Fund, IMF, Thomson Locations: Pakistan, Geneva, Switzerland, ISLAMABAD, Islamabad, Paris

Islamabad is racing against time to unlock $1.1 billion under the lender's ninth review of a $6.5-billion Extended Fund Facility agreed in 2019. -The ninth review is to release a tranche of $1.1 billion, leaving about $1.4 billion on the table in unlocked funds. It is unclear if an IMF agreement would release the entire amount. -National elections are due by November this year and the government has said the decision to enter a new IMF programme will be a decision for the incoming administration. -Hopes of a last-minute bailout rose following meetings between Sharif and IMF Managing Director Kristalina Georgieva in Paris this month, followed by marathon meetings between IMF staff and finance ministry officials.

Persons: Shehbaz Sharif, Kristalina Georgieva, Ariba Shahid, Conor Humphries Organizations: Pakistani, International Monetary Fund, IMF, Pakistan, CCC, United, Thomson Locations: KARACHI, Pakistan, Islamabad, Caa3, Fitch, Saudi Arabia, United Arab Emirates, China, Sharif, Paris, Karachi

ISLAMABAD, June 25 (Reuters) - Pakistan's parliament on Sunday approved the government's 2023-24 budget which was revised to meet International Monetary Fund conditions in a last ditch effort to secure the release of more bailout funds. The IMF in mid-June expressed dissatisfaction with the country's initial budget, saying it was a missed opportunity to broaden the tax base in a more progressive way. The revised budget was approved a day after Finance Minister Ishaq Dar introduced new taxes and expenditure cuts. There are five days to go before the $6.5 billion Extended Fund Facility (EFF) agreed in 2019 expires on June 30. The IMF has to review whether to release some of the $2.5 billion still pending to Pakistan before then.

Persons: Ishaq Dar, Raja Pervaiz Ashraf, Dar, Shehbaz Sharif, Kristalina Georgieva, Asif Shahzad, Emelia Sithole Organizations: Sunday, International, Fund, IMF, Thomson Locations: ISLAMABAD, Pakistan, Paris

"Pakistan and IMF had detailed negotiations for the last three days as a last effort to complete the pending review," he told parliament. That will revise Pakistan's revenue collection target to 9.415 trillion rupees ($33 billion) and put total spending at 14.480 trillion rupees ($51 billion), Dar said. "These changes will make our fiscal deficit much better," he said. Money allocated for cash handouts to the poor was also revised from 450 billion rupees to 466 billion rupees for fiscal 2024, Dar said. "I hope, God willing, that we will have an agreement with the IMF," Dar said.

Persons: Ishaq Dar, Dar, Shehbaz Sharif, Kristalina Georgieva, Asif Shahzad, William Mallard Organizations: International Monetary Fund, IMF, Global Financing, Thomson Locations: ISLAMABAD, Pakistan, Paris

[1/2] Pakistan Prime Minister Shehbaz Sharif meets with managing director of the International Monetary Fund (IMF), Kristalina Georgieva, in Paris, France June 22, 2023. Press Information Department (PID)/Handout via REUTERSJune 22 (Reuters) - Pakistan's Prime Minister Shehbaz Sharif on Thursday briefed International Monetary Fund's managing director Kristalina Georgieva on the economic outlook of the cash-strapped South Asian nation, hoping for the release of critical stalled funds. Under the $6.5 billion EFF's 9th review, concluded earlier this year, Pakistan has been trying to secure $1.1 billion of funding that has been stalled since November. "The Prime Minister expressed the hope that the funds allocated under the IMF's EFF would be released as soon as possible," said a statement from his office. Pakistan has defended the budget, but at the same time offered to review it in any further talks with the IMF.

Persons: Shehbaz Sharif, Kristalina Georgieva, Sharif, Asif Shahzad, Shilpa Jamkhandikar, Sudipto Ganguly, Christina Fincher Organizations: Pakistan, International Monetary Fund, Press Information Department, REUTERS, Pakistan's, Monetary, Global Financing, EFF, Thomson Locations: Paris, France, Pakistan, Islamabad

☆ China and Pakistan sign $4.8 billion nuclear power plant deal
▼ + stars: | 2023-06-20 | by ( ) edition.cnn.com time to read: +2 min

Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant, Prime Minister Shehbaz Sharif said, hailing the investment by a country that Pakistan views as its most dependable ally. Pakistan’s total nuclear energy production capacity rose to 1,400 mw, when the country’s sixth nuclear power plant opened two years ago. It is unclear whether the new investment is part of the $65 billion that China has pledged in infrastructure building for Pakistan under its Belt and Road Initiative. Instead, he said, the Chinese had disbursed an initial $104.53 million (30 billion Pakistani rupees) to start the project. CNN has reached out to China National Nuclear Cooperation and the Chinese Ministry of Foreign Affairs for comment.

Persons: Shehbaz Sharif, Sharif, ” Sharif Organizations: PTV, China National Nuclear Cooperation, Pakistan Atomic Energy Commission, “, Initiative, CNN, Chinese Ministry of Foreign Affairs Locations: Pakistan, China, Punjab, Karachi

ISLAMABAD, June 20 (Reuters) - Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant, Prime Minister Shehbaz Sharif said, hailing the investment by a country that Pakistan views as its most dependable ally. Pakistan's total nuclear energy production capacity rose to 1,400 mw, when the country's sixth nuclear power plant opened two years ago. Located in the southern port city of Karachi, that 1,100 mw plant was also constructed with Chinese assistance. It is unclear whether the new investment is part of the $65 billion that China has pledged in infrastructure building for Pakistan under its Belt and Road Initiative. Instead, he said, the Chinese had disbursed an initial 30 billion Pakistani rupees ($104.53 million) to start the project.

Persons: Shehbaz Sharif, Sharif, Asif Shahzad, Simon Cameron, Moore Organizations: PTV, China National Nuclear Cooperation, Pakistan Atomic Energy Commission, Initiative, Thomson Locations: ISLAMABAD, Pakistan, China, Punjab, Karachi

☆ Pakistan Declares Day of Mourning for Migrant Ship Disaster Off Greece
▼ + stars: | 2023-06-19 | by ( Christina Goldbaum | Salman Masood | ) www.nytimes.com time to read: +1 min

Prime Minister Shehbaz Sharif of Pakistan declared Monday a day of mourning for Pakistanis who died after a fishing boat crowded with migrants capsized off the coast of Greece last week, and ordered a crackdown on the people involved in trafficking Pakistanis to Europe. That would make the tragedy among the deadliest of its kind. At least 104 Pakistanis were confirmed to be among those killed, according to the Pakistani police, though officials expect the toll from the disaster to rise. Many of the missing were from the Pakistani-administered part of Kashmir, the region long contested between India and Pakistan, and nearby in Punjab, Pakistan’s most populous province. Mr. Sharif, the Pakistani prime minister, said on Twitter on Sunday that law-enforcement agencies had been asked “to tighten the noose around individuals involved in the heinous act of human smuggling.” He also announced a committee to investigate people-trafficking networks.

Persons: Shehbaz Sharif, Sharif, “ Organizations: Twitter Locations: Pakistan, Greece, Europe, Kashmir, India, Punjab, Pakistan’s

The chairman of of Pakistan’s Senate, Muhammad Sadiq Sanjrani, disclosed the numbers in a statement Sunday, sending condolences to grieving families of the dead. “Our thoughts and prayers are with you, and we pray that the departed souls find eternal peace,” Sanjrani said. Pakistan is in the midst of its worst economic crisis in decades. The boat capsized off the Greek coast last week while traveling from Libya to Italy. “They are not sending them to Europe, they are sending them to death.

Persons: Pakistan CNN —, Muhammad Sadiq Sanjrani, ” Sanjrani, Shehbaz Sharif, ” Sharif, Home Affairs Ylva Johansson, Johansson, ” Organizations: Pakistan CNN, European Union, Pakistan’s, Greece Coast Guard, United Nations Migration Agency, Home Affairs Locations: Karachi, Pakistan, Greece, European, Europe, Libya, Italy

☆ Pakistan PM says first discounted Russian crude oil cargo arrives in Karachi
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +1 min

June 11 (Reuters) - Pakistan's Prime Minister Shehbaz Sharif on Sunday said the first cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow had arrived in Karachi. "Glad to announce that the first Russian discounted crude oil cargo has arrived in Karachi and will begin oil discharge tomorrow," Sharif tweeted. loading"This is the first ever Russian oil cargo to Pakistan and the beginning of a new relationship between Pakistan and Russian Federation," he added. The discounted crude offers a relief to Pakistan, which is facing a payments crisis and is at risk of defaulting on its debt. The country's imports of crude are expected to reach 100,000 barrels per day after the first cargo arrives on Monday.

Persons: Shehbaz Sharif, Sharif, Shubhendu Deshmukh, Jan Harvey, Ros Russell Organizations: Pakistan's, Sunday, Russian Federation, Reuters, Energy, Thomson Locations: Islamabad, Moscow, Karachi, Pakistan, Russian, Russia, India, China, Ukraine, Afghanistan, Iran, Rishab, Bengaluru, Shahid

☆ Watched by IMF, Pakistan to present budget amid economic, political crises
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +3 min

[1/4] A labourer waits for work while sitting beside push trollies outside a market in Karachi, Pakistan June 8, 2023. Against the backcloth of this political drama, Finance Minister Ishaq Dar is set to deliver his budget speech to parliament after 4:00 pm (1100 GMT) on Friday. Some budget figures were announced earlier this week, including development spending of 1,150 billion Pakistani rupees ($4 billion), and an economic growth target of 3.5% for the coming fiscal year. On Thursday, the International Monetary Fund said that it has been discussing the budget with Pakistan. Pakistan missed almost all of its economic targets set in the last budget, most notably its growth target, which was initially set at 5%, revised down to 2% earlier this year.

Persons: Akhtar Soomro, Shehbaz, Imran Khan, Ishaq Dar, Esther Perez Ruiz, Khan, Gibran Peshimam, Simon Cameron, Moore Organizations: REUTERS, IMF, Reuters, International Monetary Fund, Pakistan, Thomson Locations: Karachi, Pakistan, Akhtar Soomro ISLAMABAD

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