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[1/5] Police officers stand in the aftermath of an attack on a police station in Karachi, Pakistan February 17, 2023. REUTERS/Akhtar SoomroKARACHI, Pakistan, Feb 17 (Reuters) - Islamists stormed a police station in the southern Pakistani city of Karachi on Friday, killing two people in a hail of gunfire and a series of loud explosions before they themselves were killed, officials said. Security forces retook the building after several hours and killed three militants, a government spokesman said. A huge explosion was heard inside the station after a series of blasts when it was first attacked. The Pakistani Taliban, or Tehreek-e-Taliban Pakistan (TTP), took responsibility for the attack in a message sent by their spokesman to journalists.

☆ U.S. concerned about debt Pakistan owes China, official says
▼ + stars: | 2023-02-16 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +2 min

ISLAMABAD, Feb 16 (Reuters) - The United States is concerned about debt owed to China by Pakistan and other countries, U.S. State Department Counselor Derek Chollet said on Thursday during a visit to Islamabad as the country dealt with an economic crisis. Pakistan, historically a close ally of Washington, has become increasingly close to China, which has provided billions in loans and is Islamabad's largest single creditor. Pakistan faces a crippling economic crisis, with decades-high inflation and critically low foreign exchange reserves depleted by continued debt repayment obligations. Cholett said Washington was talking to Islamabad about the "perils" of a closer relationship with Beijing, but would not ask Pakistan to choose between the United States and China. Officials from China and the United States will be part of a multi-country meeting of a new sovereign debt roundtable on Friday.

MUMBAI/ISLAMABAD, Feb 15 (Reuters) - Inflation in Pakistan could average 33% in the first half of 2023 before trending lower, and a bailout from the International Monetary Fund alone is unlikely to put the economy back on track, a senior economist with Moody's Analytics told Reuters. "Our view is that an IMF bailout alone isn't going to be enough to get the economy back on track. What the economy really needs is persistent and sound economic management," senior economist Katrina Ell said in an interview on Wednesday. Low income households could remain under extreme pressure as a result of high inflation on account of being disproportionately exposed to non-discretionary items. The weaker rupee, which is plumbing record lows, is adding to imported inflation while domestically high energy costs on the back of tariff increases and still elevated food prices is likely to keep inflation high.

☆ Coffee trumps economic crisis as Tim Hortons opens in Pakistan
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

LAHORE, Pakistan Feb 14 (Reuters) - Pakistanis are queuing for hours to grab coffee and pastries from Canadian chain Tim Hortons, which opened its first outlet in the South Asian country this week just as its economic crisis took a turn for the worse. Tim Hortons is owned by Restaurant Brands International Inc (RBI) (QSR.TO), , a Toronto-based company that also owns other fast food brands including Burger King and Popeyes. McDonald's (MCD.N), Retail Food Group (RFG.AX)-owned Gloria Jean's Coffee and Yum Brands Inc (YUM.N)-owned Pizza Hut are among the international brands with outlets in Pakistan. Tim Hortons is set to open another two outlets in Lahore, RBI said in a statement. For students such as Pareeshay Khan, the brand's social media traction trumps the cost of the coffee.

☆ Exclusive: Pakistan plans to quadruple domestic coal-fired power, move away from gas
▼ + stars: | 2023-02-13 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +3 min

"LNG is no longer part of the long-term plan," Pakistan Energy Minister Khurram Dastgir Khan told Reuters, adding that the country plans to increase domestic coal-fired power capacity to 10 gigawatts (GW) in the medium-term, from 2.31 GW currently. "We have some of the world's most efficient regasified LNG-based power plants. The Shanghai Electric (601727.SS) Thar plant, a 1.32 GW capacity plant that runs on domestic coal and is funded under the China-Pakistan Economic Corridor (CPEC), started producing power last week. In addition to the coal-fired plants, Pakistan also plans to boost its solar, hydro and nuclear power fleet, Dastgir said, without elaborating. The maximum power demand met by Pakistan during the year ended June 2022 was 28.25 GW, more than 35% lower than power generation capacity of 43.77 GW.

☆ IMF, Pakistan to resume talks on unlocking bailout funds, official says
▼ + stars: | 2023-02-13 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +1 min

The two could not reach a deal last week and a visiting IMF delegation departed Islamabad after 10 days of talks, but said negotiations would continue. Pakistan is in dire need of funds as it battles a wrenching economic crisis. Talks centre around reaching an agreement on a reforms agenda under the country's $6.5 billion bailout programme, which it entered in 2019. A resumption of the IMF programme would also unlock other avenues of funding for Pakistan. An agreement, if reached, would still need to be cleared by the IMF board.

☆ U.S. delegation to visit Pakistan as two sides seek to repair ties
▼ + stars: | 2023-02-13 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 13 (Reuters) - U.S. State Department Counselor Derek Chollet will lead a delegation to Pakistan this week as Washington and Islamabad seek to repair ties strained under former Prime Minister Imran Khan. The U.S. delegation will visit Bangladesh and Pakistan from Feb. 14-18 to meet with senior government officials, civil society members and business leaders, the State Department said in a statement on Monday. Khan, who was ousted in a no-confidence vote in parliament last April, had antagonized the United States throughout his tenure. Washington and Pakistan's National Security Council, a body of top civil and military leaders, dismissed his accusations. "The delegation will also reaffirm the strong security cooperation between our nations," the State Department said on Monday.

☆ Pakistan approves circular debt management plan, extra surcharge on electricity
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

KARACHI, Pakistan, Feb 10 (Reuters) - Pakistan's Economic Co-ordination Committee on Friday approved a plan it is negotiating with the International Monetary Fund to slash its circular debt, a form of public debt that builds up in the power sector due to subsidies and unpaid bills. The committee, led by Finance Minister Ishaq Dar, also approved an additional surcharge of Rs 1 per unit of electricity for FY 2023-24 to recover an estimated 76 billion Pakistani rupees ($282.81 million) in power sector liabilities. Pakistan and the IMF are to resume talks online next week they said on Friday, after ten days of face-to-face discussions in Islamabad on how to keep the country afloat ended without a deal. ($1 = 268.7300 Pakistani rupees)Reporting by Ariba Shahid, writing by Shilpa Jamkhandikar editing by Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

☆ Pakistani PM approves IMF deal, Geo reports, without giving details
▼ + stars: | 2023-02-09 | by ( Ariba Shahid | ) www.reuters.com time to read: +2 min

REUTERS/Faisal MahmoodKARACHI, Feb 9 (Reuters) - Pakistani Prime Minister Shahbaz Sharif has approved a deal with the International Monetary Fund (IMF) and all matters related to the bailout programme are settled, broadcaster Geo said on Thursday, citing sources. To release the funds, the IMF needed to reach a staff level agreement with Pakistan. Analysts say the money is necessary to prevent Pakistan from defaulting on external payment obligations, and an IMF deal also paves the way for other organisations and governments to provide funds. The IMF mission arrived in Pakistan late last week for talks aimed at releasing an overdue tranche of $1.1 billion from the bailout programme, leaving $1.4 billion remaining. The fiscal adjustments demanded by any deal, however, are likely to fuel record high inflation, which hit 27.5% year-on-year in January, analysts say.

☆ Factbox: Turkey earthquake and some of the worst natural disasters of this century
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +3 min

HAITI 2010 EARTHQUAKEA 7.0 magnitude earthquake on Jan. 13, 2010, devastated Haiti's capital Port-au-Prince and killed about 316,000 people. CHINA QUAKEA 7.8 magnitude earthquake hit China's Sichuan province on May 12, 2008, killing about 87,600 people. PAKISTAN QUAKEA 7.6 magnitude quake that struck northeast of Islamabad on Oct. 8, 2005, killed at least 73,000 people. JAPAN QUAKE/TSUNAMIA 9.0 magnitude earthquake and tsunami struck Japan’s northeast on March 11, 2011, killing about 15,690 people. HAITI 2021 QUAKEA 7.2 magnitude earthquake struck southern Haiti on Aug. 14, 2021, killing more than 2,200 people and destroying or damaging about 13,000 homes.

☆ Pakistani minister says fuel supplies adequate, warns against hoarding
▼ + stars: | 2023-02-08 | by ( Ariba Shahid | ) www.reuters.com time to read: +2 min

KARACHI, Pakistan, Feb 8 (Reuters) - Pakistan's government said on Wednesday it was not planning to hike fuel prices and warned oil companies against stockpiling petrol after some consumers complained they had been unable to purchase fuel at pumps. A member of Oil Companies Advisory Council (OCAC) in Pakistan told Reuters that only a few of the licensed companies are selling fuel while the others are not either due to financial issues or due to hoarding. Some consumers in Pakistan's most populous province of Punjab reported petrol stations were closed and others were limiting the amount people could buy. "I went to Sialkot where I found the majority of petrol stations closed. "Consumers think we're not giving them fuel and they blame us - but we aren't being supplied enough," he said.

☆ Pakistan's former President Musharraf buried in Karachi
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

[1/4] Army vehicles escort ambulances, carrying the body of Pakistan's former President Pervez Musharraf during his funeral in Karachi, Pakistan February 7, 2023. REUTERS/Akhtar SoomroKARACHI, Feb 7 (Reuters) - Pakistani former President Pervez Musharraf, a key U.S. ally in the campaign against al Qaeda following the Sept. 11, 2001, attacks on the United States, was buried in his hometown of Karachi on Tuesday. He was buried at the Army Graveyard in Karachi. This decision contradicted Pakistan's long-standing support for the Taliban, who still controlled Afghanistan until their ouster in late 2001, and made Musharraf a target for domestic militant groups. Prime Minister Sharif, the president and the army chief did not attend.

☆ Pakistan, IMF grapple for consensus to unlock critical funding
▼ + stars: | 2023-02-06 | by ( Asif Shahzad | ) www.reuters.com time to read: +3 min

The IMF funding is crucial for the $350-billion economy facing a balance-of-payments crisis with foreign exchange reserves dipping to less than three weeks of import cover. The two sides disagree on their data on the fiscal gap, two finance ministry officials with knowledge of the talks told Reuters. The country has already shifted back to a market-based exchange rate and hiked fuel prices - measures demanded by IMF. The big pile of energy sector debt - over 4 trillion Pakistani rupees ($14.55 billion), including 1.6 trillion in the gas sector- is another stumbling block in the talks, officials said. Over 900 billion rupees in gas sector subsidies for FY2022-23 are also on the chopping block, they said, adding that Pakistan has agreed to withdraw export sector subsidies.

☆ Major deadly earthquakes in the past two decades
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +4 min

White Helmets/via REUTERSFeb 6 (Reuters) - Some of the world's most deadly earthquakes in the past two decades are listed below, after a 7.8 magnitude quake struck central Turkey and northwest Syria on Monday and killed hundreds of people. - Aug. 14, 2021 - HAITI - A 7.2 magnitude earthquake struck southern Haiti, killing more than 2,200 people and destroying or damaging about 13,000 homes. - April 16, 2016 - ECUADOR - A magnitude 7.8 earthquake hammered Ecuador, killing more than 650 people on the country’s Pacific coast. - Sept 24, 2013 - PAKISTAN - Twin earthquakes, measuring 7.7 and 6.8 magnitude, rattled southwestern Balochistan province, killing at least 825 people. - May 12, 2008 - CHINA - A 7.8 magnitude earthquake hit Sichuan province, killing about 87,600 people.

☆ Pakistan ex-President Pervez Musharraf dies in Dubai after years in exile
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

[1/7] Pakistan's General Pervez Musharraf salutes during the playing of Pakistan's national anthem at the Joint Staff Headquarters in Rawalpindi November 27, 2007. REUTERS/Mian KhursheedISLAMABAD, Feb 5 (Reuters) - Pakistani former President Pervez Musharraf died on Sunday following a prolonged illness at a hospital in Dubai, after years in self-imposed exile. Musharraf joined what Washington called its "war on terror" after the Sept. 11, 2001, attacks on the United States. This made Musharraf a target for militants in Pakistan as well as causing him to lose support among conservative elements in Pakistan. Allowed abroad for medical treatment even as he faced a treason case in Pakistan, Musharraf last flew to Dubai in 2016.

☆ Pakistan's Musharraf, military ruler who allied with the U.S. and promoted moderate Islam
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +5 min

[1/8] Pakistan's former President, Pervez Musharraf, addresses his supporters after his arrival from Dubai at Jinnah International airport in Karachi March 24, 2013. Musharraf, 79, died in hospital after a long illness after spending years in self-imposed exile, Pakistan media reported on Sunday. His father served in the foreign ministry, while his mother was a teacher and the family subscribed to a moderate, tolerant brand of Islam. Musharraf also successfully lobbied then-President George W. Bush to pour money into the Pakistani military. In 2006, Musharraf ordered military action that killed a tribal head from the province Balochistan, laying the foundations of an armed insurgency that rages to this day.

☆ Pervez Musharraf, Pakistan martial ruler in 9/11 wars, dies
▼ + stars: | 2023-02-05 | by ( ) www.cnbc.com time to read: +12 min

Pakistan's former military ruler Pervez Musharraf has died in Dubai aged 79 after a long illness, the army said on February 5, 2023. By Sept. 12, then-U.S. Secretary of State Colin Powell told Musharraf that Pakistan would either be "with us or against us." They regrouped and the offshoot Pakistani Taliban emerged, beginning a yearslong insurgency in the mountainous border region between Afghanistan and Pakistan. Though Pakistan under Musharraf launched these operations, the militants still thrived as billions of American dollars flowed into the nation. Born Aug. 11, 1943, in New Delhi, India, Musharraf was the middle son of a diplomat.

☆ Reactions to Pakistan ex-President Musharraf's death
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +1 min

Feb 5 (Reuters) - Pakistani former President Pervez Musharraf died on Sunday following a prolonged illness at a hospital in Dubai, after years in self-imposed exile. SHASHI THAROOR, INDIAN POLITICIAN, SAID ON TWITTER"Once an implacable foe of India, he became a real force for peace 2002-2007. I met him annually in those days at the UN & found him smart, engaging & clear in his strategic thinking. RIP"MOSHARRAF ZAIDI, CEO OF TABADLAD, AN ISLAMABAD-BASED THINK TANK"The most important legacy Gen. Musharraf leaves behind predates his time as president. The 1999 Kargil War permanently altered ...

☆ IMF giving Pakistan tough time over unlocking funds, PM says
▼ + stars: | 2023-02-03 | by ( Asif Shahzad | ) www.reuters.com time to read: +1 min

"As you know, the IMF mission is in Pakistan, and that's giving us a tough time," he said. "You all know we are running short of resources," Sharif said, adding Pakistan at present was facing an economic crisis. The IMF mission is visiting Pakistan to discuss fiscal consolidation measures the institution needs from Pakistan to clear a 9th review of its Extended Fund Facility, aimed at helping countries facing balance-of-payments crises. Pakistan is in a $6.5 billion IMF programme. An IMF delegation is in Pakistan to restart talks stalled since November for $2.5 billion funds yet to be disbursed.

☆ Blackouts, currency dives and corruption: Pakistan's economy is on the brink of collapse
▼ + stars: | 2023-02-03 | by ( Natasha Turak | ) www.cnbc.com time to read: +7 min

Sajjad Qayyum | Afp | Getty ImagesPakistan's economy is on a cliff-edge. These are just the latest shocks amid months of crisis as endemic government corruption, depleted foreign reserves and crippling debt have sent Pakistan's economy spiraling. More than 30% of Pakistan's total foreign debt is owed to China, according to the IMF. An aerial view of the commercial district of Pakistan's port city of Karachi on January 27, 2023. Asif Hassan | Afp | Getty Images

☆ Pakistan's forex reserves with central bank drop to $3.09 bln
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

ISLAMABAD, Feb 2 (Reuters) - Pakistan's foreign exchange reserves held by the central bank decreased by 16.1% to $3.09 billion in the week ending Jan. 27, the State Bank of Pakistan (SBP) said on Thursday, which analysts said covers less than three weeks of imports. The country is locked in negotiations with the International Monetary Fund (IMF) to release much-needed money under a stalled bailout programme. The central bank said in a statement that the drop in reserves was due to external debt repayments. Reserves held by commercial banks stood at $5.65 billion, taking total liquid reserves in the country to $8.74 billion, SBP added. The central bank recently removed a cap on exchange rates and the government raised fuel prices by 16%.

[1/5] Daughter of Irfan Khan, a police officer, who along with other police officers was killed, weeps during a protest by police officers to condemn the suicide blast in a mosque in Peshawar, Pakistan February 1, 2023. REUTERS/Fayaz AzizPESHAWAR, Pakistan, Feb 2 (Reuters) - The suicide bomber who killed more than 100 people at a mosque in a police compound in the Pakistan city of Peshawar this week wore a police uniform and entered the high security area on a motorbike, a provincial police chief said on Thursday. Ansari said the CCTV footage showed the bomber, wearing a helmet and a mask, riding his motorbike through the main checkpoint of Police Lines. He then parked his bike, asked directions to the mosque and walked there, Ansari added. All but three of those killed were police officers, making it the worst attack on Pakistani security forces in recent history.

☆ Afghan women prosecutors once seen as symbols of democracy find asylum in Spain
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +4 min

[1/5] Afghan prosecutor S.M., who left her 4 years old daughter with her grandmother in Afghanistan while escaping to Peshawar, looks down in Islamabad, Pakistan, September 22, 2022. "Most Afghan women and girls that remain in Afghanistan don't have the right to study, to have a social life or even go to a beauty salon," Sharar said. due to fears over her safety and who specialised in gender violence and violence against children said, "I was the only female prosecutor in the province... The United Nations High Commissioner for Refugees (UNHCR) said it was not in a position to comment on specific cases. "The Government of Pakistan has not agreed to recognise newly arriving Afghans as refugees," UNHCR said in a statement.

Faced with a shortage of US dollars, Pakistan only has enough foreign currency in its reserves to pay for three weeks of imports. Long lines are forming at gas stations as prices swing wildly in the country of 220 million. Pakistan’s currency, the rupee, recently dropped to new lows against the US dollar after authorities eased currency controls to meet one of the IMF’s lending conditions. The country has been spending more on trade than it has brought in, running down its stock of foreign currency and weighing on the rupee’s value. Pakistan's usually bustling ports, like this one in Karachi, have ground to a halt as the country grapples with a severe shortage of foreign currency.

☆ Pakistan mosque attacker wore police uniform, breached security - police chief
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: 1 min

ISLAMABAD, Feb 2 (Reuters) - Pakistani police have identified the suicide bomber who attacked a mosque in Peshawar this week, the provincial police chief said on Thursday, adding that the attacker had breached security by wearing a police uniform. The attack, which took place on Monday in a heavily fortified area called Police Lines, killed more than 100 people, all but three of them policemen. Moazzam Jah Ansari, police chief of Khyber Pashtunkhwa province where Peshawar is located, told reporters the bomber was part of a "network" and had driven a motorcycle into the area. Reporting by Asif Shahzad, writing by Sudipto Ganguly; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

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