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Pakistan expects heavy monsoon rain raising risk of floods
  + stars: | 2023-07-03 | by ( ) www.reuters.com   time to read: +1 min
ISLAMABAD, July 3 (Reuters) - Heavy monsoon rain is expected to hit Pakistan on Monday and last for several days, the weather office said, raising the risk of flooding in areas still recovering from a devastating deluge last year. Heavy thunder and rain was expected from Monday evening in the capital, Islamabad, as well as in the cities of Lahore and Peshawar, spreading to other areas until Saturday, the Pakistan Meteorological Department said. The weather office warned that flooding was possible in low-lying areas of Islamabad, Rawalpindi, Peshawar, Gujranwala, and Lahore, with the risk of flash floods in hilly western areas late this week. Pakistan has received commitments of more than $9 billion from international donors to help recover from last year's floods with rebuilding efforts estimated to cost about $16.3 billion. Reporting by Asif Shahzad, Gibran Peshimam; writing by Shivam Patel; editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.
Persons: Asif Shahzad, Gibran Peshimam, Shivam Patel, Robert Birsel Organizations: Pakistan, Pakistan Meteorological Department, Thomson Locations: ISLAMABAD, Islamabad, Lahore, Peshawar, Rawalpindi, Gujranwala, Pakistan
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
LAHORE, June 29 (Reuters) - Pakistan's finance minister said a staff level agreement for a crucial bailout deal with the International Monetary Fund was "very close" and expected in the next 24 hours. "We are very close to signing a staff level agreement with the IMF," minister Ishaq Dar told Reuters late on Thursday. A source familiar with talks told Reuters that Pakistan and the IMF were also in discussions for the release of the full $2.5 billion pending under the IMF programme. A representative for the IMF in Pakistan did not immediately respond to a request for comment. It was unclear what portion of the funds would be released in the announcement he expected in the next 24 hours.
Persons: Ishaq Dar, Dar, Asif Shahzad, Charlotte Greenfield, Andrew Heavens, Alison Williams Organizations: International Monetary, IMF, Reuters, Thomson Locations: LAHORE, Islamabad, Pakistan, Lahore
[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
[1/2] Supporters of Pakistan's former Prime Minister Imran Khan block a highway, during a protest against his arrest, in Karachi, Pakistan May 9, 2023. REUTERS/Akhtar Soomro/File PhotoISLAMABAD, June 26 (Reuters) - Pakistan's army has sacked three senior officers, including a lieutenant general, for failing to prevent violent attacks on military assets by ex-prime minister Imran Khan's supporters protesting his arrest, the army's spokesperson said on Monday. He also declined to name the senior officers who had been fired. Human rights groups have raised concerns about military trials of civilians in Pakistan that they say cannot ensure a fair defence. Chaudhry added that several relatives, including women, of senior army officers were also facing trials for allegedly being facilitators of the violence.
Persons: Imran Khan, Akhtar Soomro, Imran Khan's, Ahmad Sharif Chaudhry, Chaudhry, Asif Shahzad, Shilpa Jamkhandikar, Toby Chopra, Christina Fincher, Mark Heinrich Our Organizations: REUTERS, Thomson Locations: Karachi, Pakistan, ISLAMABAD, Rawalpindi
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
Pakistan army says two civilians killed by Indian forces
  + stars: | 2023-06-24 | by ( ) www.reuters.com   time to read: +1 min
ISLAMABAD, June 24 (Reuters) - Pakistan's army claimed on Saturday that two civilians were killed by Indian forces in the disputed Himalayan region of Kashmir, the first such conflict since a ceasefire in 2021 between the two nuclear-armed South Asian neighbours. "The Indian Army, in a display of its usual inhumane approach towards innocent Kashmiris, opened indiscriminate fire onto a group of shepherds in Sattwal Sector," the statement said. The Indian army did not respond to a request for comment. Both India and Pakistan lay claim over the disputed territory, but each control half of it. Condemning the killings and ceasefire violation, the Pakistani foreign office summoned the Indian envoy to register a protest, the statement said.
Persons: Asif Shahzad, Diane Craft Organizations: Indian Army, Thomson Locations: ISLAMABAD, Kashmir, Sattwal, India, Pakistan, New Delhi
ISLAMABAD, June 23 (Reuters) - At least 350 Pakistanis were on an overloaded boat that capsized and sank in open seas off Greece last week, Pakistan's Interior Minister said on Friday, promising to arrest and prosecute the human smugglers responsible. Another 193 Pakistani families have taken DNA tests to try to identify those who died in one of Europe's deadliest shipping disasters in recent years, he said. Pakistan said it has arrested several human traffickers and their agents who told authorities that their ring leader was based in Libya. These human smugglers had charged around $8,000 a person to take them to Europe illegally through the sea route after flying legally to Dubai, Egypt and Libya, authorities said. Reporting by Asif Shahzad, writing by Tanvi Mehta; Editing by Shivam Patel, Christina Fincher and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.
Persons: Rana Sanaullah, Sanaullah, Asif Shahzad, Tanvi Mehta, Shivam Patel, Christina Fincher, Conor Humphries Organizations: Pakistan's, Thomson Locations: ISLAMABAD, Greece, Egypt, Syria, Pakistan, Pylos, Libya, Europe, Dubai
[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
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
[1/7] A lifeguard patrols Juhu beach, during a red flag alert due to rough seas caused by cyclone Biparjoy, in Mumbai, India, June 12, 2023. REUTERS/Francis MascarenhasMUMBAI, June 12 (Reuters) - A storm off India's west coast has strengthened to become a powerful cyclone and could hit India's western state of Gujarat and southern parts of Pakistan this week, the Indian weather department said on Monday. "Rescue and relief teams of the Coast Guard, Army and Navy along with ships and aircraft have been kept ready on standby," it said. In neighbouring Pakistan, the National Disaster Management Authority said instructions were being given to take precautionary measures in southern and southeastern parts that may be affected. A 1998 cyclone killed at least 4,000 people and caused hundreds of millions of dollars in damage in Gujarat.
Persons: Francis Mascarenhas MUMBAI, Biparjoy, Rajendra Jadhav, Asif Shahzad, Sumit Khanna, Sakshi Dayal, Shivam Patel, Raju Gopalakrishnan, Philippa Fletcher, Jonathan Oatis, Mark Heinrich Our Organizations: REUTERS, India Meteorological Department, Adani, Indian Coast Guard, Key Singapore, Oil, Gas, Vedanta Ltd, Response Force, Coast Guard, Army, Navy, National Disaster Management Authority, Thomson Locations: Mumbai, India, Gujarat, Pakistan, Mandvi, Karachi, Fishermen, Mundra, Tuna, Kandla, Key, Dubai, Gujarat Pipavav, Kerala, Maharashtra, Karnataka, Andhra Pradesh, Tamil Nadu
Discounted crude offers respite as Pakistan faces an acute balance of payments crisis, risking a default on its debt obligations. The first cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow earlier this year arrived in Karachi on Sunday. Pakistan's Refinery Limited (PRL) will initially refine the Russian crude, the minister said. Malik on Monday played down concerns around the financial viability and concerns about the ability of local refineries to process Russian crude given the South Asian country's historical importation of Middle Eastern petroleum products. "No adjustments (were) needed at the refinery to refine the Russian crude," the minister told Reuters.
Persons: Florence Lo, Malik Says, Musadik Malik, Pakistan's, Malik, Ariba Shahid, Asif Shahzad, Shilpa Jamkhandikar, Gibran, Philippa Fletcher, Toby Chopra Organizations: REUTERS, ., Karachi . Petroleum, Pakistan, Moscow, Pakistan's Refinery, Monday, Reuters, Energy, United, United Arab Emirates, Thomson Locations: Moscow, Islamabad, ISLAMABAD, Pakistan, Karachi, Russia, India, China, Ukraine, Saudi Arabia, United Arab
Finance Minister Ishaq Dar announced the target during his budget speech to the national legislature. The deficit target for the fiscal year ending this month had been revised higher, from a previous projection of 4.9%. The government had prepared "a responsible budget, not an election budget", Dar said. The total spending target would be 14.46 trillion rupees ($50.45 billion), Dar said, with 1.8 trillion rupees going to defence. It would target net external financing of 2,527 billion rupees for the fiscal year ending in June 2024 of which 1,601 billion rupees would come via commercial and Eurobond borrowing.
Persons: Akhtar Soomro, Ishaq Dar, Dar, Shehbaz Sharif, Shahbaz Ashraf, Mustafa Pasha, Asif Shahzad, Gibran Peshimam, Shahid, Charlotte Greenfield, Louise Heavens, Mark Heinrich, Mark Potter, Sriraj Organizations: REUTERS, IMF, Finance, Pakistan, FRIM Ventures, Lakson Investments, Reuters, Thomson Locations: Karachi, Pakistan, IMF ISLAMABAD
The 70-year-old former cricket hero who become prime minister in 2018 has been embroiled in a confrontation with the powerful military since he was ousted in a no-confidence vote last year. Khan was freed days later but new charges against him have been piling up. The military, which denies involvement in civilian politics, initially saw Khan with his conservative, nationalist agenda as a leader who shared their interests. But as prime minister, Khan took steps that angered the generals, in particular in connection with security sector appointments. The prime minister who replaced Khan, Shahbaz Sharif, has rejected his call for an election before one is due by late this year.
Persons: Imran Khan, Khan's, Khan, Gohar Khan, Shahbaz Sharif, Asif Shahzad, Robert Birsel Organizations: Pakistani, Court, Thomson Locations: ISLAMABAD, Islamabad
June 8 (Reuters) - Pakistan is likely to post GDP growth of 0.29% in the fiscal year ending June 2023, the country's economic survey released on Thursday said, well below the target of 5% set last year. Finance Minister Ishaq Dar told a news conference on the annual report that 0.29% GDP growth was a "realistic achievement" and anything higher was not achievable. Average year-on-year inflation rate for the period up to May 2023 was recorded at 29.2%, the survey found. In April and May, the country's inflation hit record levels, which were also the highest in Asia. Remittances of money sent from relatives abroad were down 13% for the FY23 until April, to $22.7 billion.
Persons: Ishaq Dar, Ariba Shahid, Asif Shahzad, Gibran Peshimam, Sakshi Dayal, Sudipto Ganguly, Barbara Lewis Organizations: International Monetary Fund . Finance, Thomson Locations: Pakistan, Asia
QUETTA, Pakistan, June 7 (Reuters) - Pakistani police on Wednesday formally named former prime minister Imran Khan in connection with the murder by unknown gunmen of a lawyer seeking sedition proceedings against him. Khan, who has not been charged in connection with the lawyer's murder, has dismissed all the cases against him as concocted by his opponents. Provincial government spokesman Babar Khan said Khan could face formal charges if and when the murder case goes to trial. It was not immediately clear how the link between unknown gunmen and Khan was made. Khan has accused the military and its intelligence agency of openly trying to destroy his party, saying he has "no doubt" he will be tried in a military court and thrown into jail.
Persons: Imran Khan, Khan, Rauf Hasan, Babar Khan, Abdur Razaq, Razaq, Razaq's, Siraj Ahmad, Asif Shahzad, Nick Macfie Organizations: Wednesday, Police, Reuters, Thomson Locations: QUETTA, Pakistan
KARACHI, Pakistan, June 2 (Reuters) - Pakistan has passed a special order to allow barter trade with Afghanistan, Iran and Russia for certain goods, including petroleum and natural gas, the Ministry of Commerce said on Friday. The government order, called the Business-to-business (B2B) Barter Trade Mechanism 2023 and dated June 1, lists goods that can be bartered. Sajid Amin, deputy director of the Sustainable Development Policy Institute, said Pakistan could gain particularly from oil and energy imports from Russia and Iran without adding to dollar demand. "While it may not solve currency smuggling, particularly at the Afghanistan border, it can discourage smuggling of goods from Iran, such as diesel, and Afghanistan which is hurting the economy," Amin added. In May, the Pakistan Petroleum Dealers Association complained that up to 35% of the diesel sold in Pakistan had been smuggled from Iran.
Persons: Sajid Amin, Amin, Pakistan's, Musadik Malik, Malik, Ariba Shahid, Asif Shahzad, Simon Cameron, Moore, David Holmes Organizations: Ministry of Commerce, State, Sustainable Development Policy Institute, Reuters, Pakistan Petroleum Dealers Association, Thomson Locations: KARACHI, Pakistan, Afghanistan, Iran, Russia
[1/2] Pakistan's Finance Minister Ishaq Dar gestures during a news conference to announce the economic survey of fiscal year 2016-2017, in Islamabad, Pakistan, May 25, 2017. REUTERS/Faisal MahmoodISLAMABAD, May 28 (Reuters) - Pakistan will share its upcoming budget details with the International Monetary Fund (IMF) in order to unlock stalled funds, Finance Minister Ishaq Dar said on Sunday. The IMF funding is crucial for the $350 billion South Asian country, which faces an acute balance of payments crisis. The IMF's $1.1 billion funding to Pakistan, which is part of the $6.5 billion Extended Fund Facility agreed in 2019, has been held up since November. Islamabad hosted the IMF mission in February to negotiate a series of fiscal policy measures to clear the 9th review.
MUZAFFARABAD, Pakistan, May 27 (Reuters) - At least 11 people died after an avalanche hit members of a nomadic tribe as they crossed a mountainous area in northern Pakistan, the country's disaster management agency said on Saturday. Another 13 people were injured in the avalanche which struck a group of families at Shounter Top Pass late on Friday. In summer, the nomads move goat herds from the plains of Punjab to the high grasslands in the Kashmir valley, and then onwards to the adjoining Gilgit Baltistan through the Shounter Pass. "Such incidents are rising in Pakistan due to the impact of climate change," Pakistan's Prime Minister Shehbaz Sharif said in a statement. Sharif called on the international community to fulfil its responsibility to save developing countries facing economic challenges from adverse effects of climate change.
MUZAFFARABAD, Pakistan, May 22 (Reuters) - Hundreds of people rallied in Pakistan-administered Kashmir on Monday to protest arch rival India's decision to host a G20 tourism meeting in its part of the disputed Himalayan region, said a government official. Several protesters demonstrated in Muzaffarabad, capital of Pakistan-administered Kashmir, and other cities, chanting: "Go India go back and boycott, boycott G20 boycott!" He termed the G20 gathering as illegal, and an attempt by India to seek legitimacy over its control of the disputed region. The G20 tourism working group meeting is the first international event in the region since the conversion. India at present holds it presidency, and is set to host its annual summit in New Delhi in September.
LAHORE, Pakistan, May 19 (Reuters) - Pakistani police plan to search the Lahore home of former Prime Minister Imran Khan on Friday, a provincial government official said, an operation that could trigger more violence as the country grapples with political and economic instability. Amir Mir, the information minister of Punjab province, said hundreds of policemen, led by the city police commissioner, would conduct the search operation later on Friday. Khan's home is located in the Zaman Park neighbourhood of Lahore, the capital of Punjab. His arrest triggered a wave of violence that saw supporters attacking military installations and other government buildings. On Thursday, Khan's aide Iftikhr Durrani allowed journalists into some areas of Khan's Lahore home to "look for terrorists".
ISLAMABAD, May 18 (Reuters) - Pakistan's powerful anti-corruption agency has summoned former Prime Minister Imran Khan for questioning on Thursday into the graft charges that led to his arrest on May 9. It was not clear if Khan, who denies the charges, would heed the summons. A spokesman for Khan's party, the Pakistan Tehreek-e-Insaf, was not immediately available for a comment. The Supreme Court ordered Khan's release on bail last Friday, and another court on Wednesday extended his protective bail until May 31. Punjab's information minister Amir Mir said the government did not have any plans to arrest Khan as he had been given bail by court.
He said Khan had 24 hours to surrender the suspects, and that a police operation would be launched if he did not comply. The arrest of the former prime minister, who was ousted in a parliamentary confidence vote in April last year, has deepened political instability in the South Asian nation of 220 million. Thousands of Khan supporters had attacked and set on fire scores of government and public buildings, including the army's headquarters, following his arrest. Khan has previously disowned those involved in arson and attacks against the army, demanding an impartial inquiry. The military has said the May 9 attacks against the army were "pre-planned" and ordered by Khan party's leaders, which he and his party deny.
[1/2] Pakistan's former Prime Minister Imran Khan and his wife Bushra Bibi are covered with a white sheet as they arrive to appear at the High Court in Lahore, Pakistan, May 15, 2023. REUTERS/Mohsin RazaISLAMABAD, May 16 (Reuters) - Bushra Khan, the wife of Pakistan's former Prime Minister Imran Khan, is facing corruption charges in the same case that led to his arrest on May 9. It was not clear when or how Khan met Bushra, but former aide Aun Chaudhry said Khan was very impressed with her spirituality. Khan and Bushra married in 2018, seven months before he was elected prime minister, in a secret ceremony. While prime minister, Khan promoted the trust at official events, and the couple are the sole trustees, according to Law Minister Azam Nazeer Tarar.
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