Tag: PM Shehbaz

  • Imran Khan never requested a meeting with army chief Asim Munir, says Fawad Chaudhry

    Pakistan Tehreek-e-Insaf (PTI) Vice President Fawad Chaudhry has said on Tuesday that party chief Imran Khan has never requested Chief of Army Staff (COAS) General Asim Munir to meet him.

    Chaudhry also stated in a tweet that President Dr Arif Alvi has never approached Khan with Asim’s alleged suggestion to have a meeting with Prime Minister (PM) Shehbaz Sharif. He termed the speculations “baseless”.

    A day earlier, Alvi went to Zaman Park to meet his party chairman, who on Sunday dodged getting arrested by the Islamabad police.

    Fawad’s clarification came after senior journalist Kamran Khan claimed on Twitter on Tuesday afternoon that in a meeting with the business community, COAS himself said that he had sent a message to Khan via President Alvi to meet with PM Sharif, however, Khan refused.

    He also said Imran did desire a meeting with the army chief which the latter did not agree too, saying he was not ready to interfere in the political process.

    On March 3, the PTI chief said that he is ready to hold talks with the COAS for the sake of the country, claiming that the army chief considers Imran his enemy.

  • Ministers decide to give up salaries amid economic crisis

    Ministers decide to give up salaries amid economic crisis

    A total of 12 federal ministers and three state ministers have decided to give up their salaries and work on voluntary basis due to the worsening economic crisis in the country.

    The ministers themselves proposed to Prime Minister (PM) Shehbaz Sharif that they will work without pay. The Premier has approved the request and appreciated their concern for the nation.

    This will be the very first time that such a large number of cabinet members will be serving without getting paid.

    It has also been reported that the Members of the National Assembly (MNAs) have decided to donate one-month salary each to the earthquake victims in Turkiye and Syria.

  • Pakistan will have to agree to ‘unimaginable’ IMF conditions for bailout: PM Shehbaz

    Pakistan will have to agree to ‘unimaginable’ IMF conditions for bailout: PM Shehbaz

    The government will have to accept “beyond imagination” International Monetary Fund (IMF) bailout requirements, according to Pakistan’s Prime Minister (PM) Shehbaz Sharif, who made the statement on Friday in a meeting of civil and military leaders in the northwestern city of Peshawar.

    In order to avoid backlash before the upcoming elections in October, the administration has refused to implement the tax increases and subsidy reductions that the IMF has required.

    “I will not go into the details but will only say that our economic challenge is unimaginable. The conditions we will have to agree to with the IMF are beyond imagination. But we will have to agree with the conditions,” PM Shehbaz said.

    In the midst of political unrest, a deteriorating security situation, and a balance of payments crisis caused by its high levels of foreign debt, Pakistan’s economy is in terrible circumstances.

    The nation’s central bank announced Thursday that its foreign exchange holdings had decreased once again to $3.1 billion, which analysts said was just enough to cover imports for fewer than three weeks.

    On Wednesday, year-over-year inflation reached a 48-year high, making it difficult for Pakistanis to afford food products.

    With the possibility of national bankruptcy looming and no friendly countries prepared to give less painful bailouts, Islamabad started to submit to pressure ahead of the IMF visit.

    To manage a rogue illicit market in US dollars, the government relaxed regulations on the rupee, which led to the currency falling to historic lows. Additionally, artificially low gasoline costs have increased.

    A backlog of thousands of cargo containers filled with material the countrycannot afford is accumulating at Karachi port as a result of the government no longer providing letters of credit, with the exception of necessary food and medication.

    IMF advises Pakistan to fetch additional revenue

    The IMF has suggested the Pakistani government implement significant, high-quality, and long-lasting tax and non-tax revenue initiatives in order to raise extra funds to close the anticipated Rs. 600 billion fiscal framework shortfall.

    Currently in Pakistan, an IMF delegation led by Mission Chief Nathan Porter is having discussions for the ninth review, which will go through February 9.

    After months of resistance, the government was finally obliged to agree to all the terms laid forth by the Washington-based lender due to the country’s declining foreign exchange reserves and deteriorating economic circumstances.

    Following the conclusion of the negotiations under the $6.5 billion Extended Fund Facility, a staff-level agreement is anticipated.

  • Pakistan gets $2 billion from UAE, with $1 billion additional loan in pipeline

    Pakistan gets $2 billion from UAE, with $1 billion additional loan in pipeline

    Finance Minister Ishaq Dar announced on Wednesday that the Abu Dhabi Fund for Development (ADFD) has rolled over their deposit of $2 billion with the State Bank of Pakistan (SBP).

    In a tweet, the minister highlighted that Prime Minister Shehbaz Sharif had discussed the rollover with the United Arab Emirates (UAE) President Sheikh Mohammed bin Zayed al-Nahyan, during his recent visit to the country.

    The UAE agreed to give Pakistan $1 billion and roll over an existing $2 billion loan on January 12, according to the Pakistani information minister, as the nation’s central bank’s foreign reserves had shrunk to only three weeks’ worth of imports.

    The UAE’s financial assistance gave the nation, which is still recovering from devastating countrywide floods that have cost more than $30 billion in damage, some solace.

    Shehbaz Sharif, the prime minister of Pakistan, announced the loans as he began a two-day trip to the United Arab Emirates. In a statement, Sharif stated, “This support will help us weather economic hardships.

    He met with UAE President Sheikh Mohammed bin Zayed al-Nahyan and was scheduled to speak with other government representatives and business executives about commercial and economic potential, according to Information Minister Marriyum Aurangzeb.

    External finance is essential for Pakistan’s faltering economy because the IMF’s ninth review to approve the transfer of a fresh $1.1 billion tranche of money to Pakistan has been on hold since September.

    According to Geo, SBP’s foreign exchange holdings dropped to an alarming $4.3 billion level, barely enough for three weeks’ worth of imports, according to the bank. Net foreign exchange reserves held by commercial banks stood at $5.8 billion, and total liquid reserves at $10.1 billion.

  • Is Imran Khan coming back to National Assembly to take PM Shehbaz out?

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan has hinted at the possibility that his party may return to the National Assembly (NA) to table a no-confidence motion against Prime Minister (PM) Shehbaz Sharif.

    The PTI fears that its dissenting member Raja Riaz who is holding the parliamentary party leader’s position in the NA may decide to vote in favour of PM Shehbaz if President Dr Arif Alvi asks Shehbaz Sharif to take the trust vote.

    Talking to the media at his Lahore residence, Khan said planning and consultations with party leaders and legal experts are going on to strategise how PTI’s turncoats can be stopped from siding with the ruling coalition of Pakistan Democratic Movement (PDM).

    “He [Shehbaz Sharif] will have sleepless nights in the days to come”, Khan reportedly said to journalists.

    He claimed that some Pakistan Muslim League-Nawaz (PML-N) MNAs want to join the PTI.

    “Some PML-N members of the National Assembly are in contact with the PTI and they have expressed their interest in joining our camp. We will test them before giving them party membership,” Imran said, adding that he saw elections taking place in March or April.

    The former ruling party is considering “testing” PM Sharif’s strength in the house sensing that cracks are appearing in PDM’s ranks.

    PTI’s senior leader Fawad Chaud­hry has said that the party’s return to the National Assembly was linked with its plan to oust PM Sharif, reports Dawn.

    He said PTI was seeking legal opinion on how it could bind its MNAs to vote in line with the party policy in case of a no-trust move, and if that can be achieved without joining the assembly.

  • ‘Dunya ne hum par aitemaad keeya’: PM Shehbaz promises to use $9.7 billion flood donations transparently

    Following substantial pledges from the international community for Pakistan’s flood rehabilitation and climate resilience building, Prime Minister (PM) Shehbaz Sharif accompanied by federal ministers, held a press conference in Islamabad to discuss the figures that the country received.

    On Wednesday, the premier announced that the Geneva conference proved to be successful as the world pledged a total of $9.7 billion.

    Giving a breakdown of the amount pledged at the conference, the prime minister said Saudi Arabia committed $1 billion, followed by China $100m, Qatar $25m, Canada $18.6m, Denmark $3.8m, European Union €87m, France €380m, Germany €84m, Italy €23m and Azerbaijan $2m.

    During the conference, he said that the world trusted this government, adding that, “It is now upon us to utilise the amount on infrastructural development and for the development of other important sectors.”

    “The ball is now in our court. We now have to transparently spend every single penny on the people’s prosperity”, he affirmed.

    He added that the incumbent regime would keep up their work until the flood-affected populace was repopulated into their homes.

    Answering a question about the sit-in in South Wazirabad against terrorism, and militancy, the prime minister said the National Security Committee (NSC) discussed the issue in detail.

    Foreign Minister (FM) Bilawal Bhutto Zardari termed the PM’s foreign policy “successful”, citing the amount raised for flood victims and simultaneously dispelled the “myth” that Pakistan was isolated.

    Bilawal said the requirement of $16bn [for flood recovery] in times of Covid, as well as the crisis triggered by the Ukraine-Russia conflict, was “no joke”.

    Earlier this week, an International Conference on Climate Resilient Pakistan was held in Geneva which was co-hosted by Pakistan and the United Nations (UN). PM Shehbaz addressed the platform and asked the world to pour in support for Pakistan.

  • IMF team to visit Pakistan in 2-3 days to finalise ninth review

    IMF team to visit Pakistan in 2-3 days to finalise ninth review

    A delegation from the International Monetary Fund (IMF) will visit Pakistan in two to three days to “undertake and complete” the key ninth review, according to Prime Minister (PM) Shehbaz Sharif.

    PM Shehbaz said that he spoke to IMF Managing Director Kristalina Georgieva and stressed that Pakistan will complete the IMF bailout programme.

    “I told her to ease the terms of the deal because I cannot burden the common man any further. We have imposed taxes on the rich strata of the society. I requested her to send a delegation for the ninth review and she replied that a team will visit Pakistan in 2-3 days.”

    “After inquiring about Pakistan’s relations with China and Saudi Arabia, she also told me that China had urged IMF to support Pakistan,” he said.

    The IMF programme is currently stalled, with experts suggesting that the government is reluctant to implement some of the lender’s conditions over their effect on political capital in a year when elections are scheduled to take place.

    PM Shehbaz said that Pakistan was trying to mend its ties with friendly countries as well. “We should appreciate friendly countries for supporting Pakistan over the past few years but the previous government slapped allegations of corruption on Chinese firms and jeopardised the China-Pakistan Economic Corridor (CPEC).”

    He stated that the former leadership “had angered friendly nations”, adding that the contribution of Saudi Arabia, UAE and China to Pakistan’s economy is priceless.

    Pakistan needs the IMF programme to restart due to its declining rupee, shrinking reserves, and worse macroeconomic indices.

    The State Bank of Pakistan’s (SBP) foreign exchange holdings dropped by another $245 million on Thursday, down to a critically low level of $5.58 billion. Since April 2014, SBP-held reserves have never been this low.

    At the same time, the government has also been unable in obtaining crucial support from allies.

    The challenge has left Pakistani authorities scurrying to set up foreign exchange amid increased concerns over the country’s capacity to pay its debts and fund imports.

    Additionally, there are market rumours that Pakistan could possibly default, but the Pakistani government is still confident that Saudi Arabia would provide essential assistance for the country’s foreign exchange reserves.

  • TTP directly threatens PM Shehbaz and FM Bilawal

    The outlawed Tehreek-e-Taliban (TTP) has announced that it is considering taking concrete steps against the two major parties of the current ruling coalition— the Pakistan Peoples Party (PPP) and Pakistan Muslim League-Nawaz (PML-N).

    In a notification, released on Wednesday, TTP claimed that the whole world is aware that the “Jihadi field of TTP is only Pakistan and their target is the security agencies occupying the country.”

    The banned organisation has also mentioned the names of Foreign Minister Bilawal Bhutto-Zardari and Prime Minister (PM) Shehbaz Sharif as both of them have talked against TTP and warned the terrorists.

    The notification further reads that it has not taken action against any political party for a long time but “unfortunately Bilawal gave the United States (US) the status of mother to quench the thirst of his mother’s love”, adding that by doing so “he openly declared war against TTP”.

    “Although Bilawal is still young, this poor man has not yet witnessed the state of war,” the statement added.

    The TTP further said that Sharif has also “pushed the whole party into this war going against TTP for the sake of pleasing the US”.

    A statement issued by the TTP said that “if these two parties remain firm on their position and continue to be slaves of the army, then action will be taken against their leading people.”

    The statement by TTP comes just a day after FM Bilawal’s comment that the incumbent government would quit “the policy of appeasement” of terrorists, unlike the previous government of Pakistan Tehreek-e-Insaf (PTI).

    Moreover, PM Shehbaz earlier this week had chaired a National Security Committee (NSC) meeting in which it was decided that Pakistan would adopt a zero tolerance policy against terrorism.

    In November, the TTP announced that they have called off a ceasefire with the federal government and since then they have been attacking across the country.

  • ‘Zero tolerance’; PM warns terrorists

    Amid rising terror attacks, Prime Minister (PM) Shehbaz Sharif has said that Pakistan will adopt the policy of zero-tolerance against terrorists.

    From his account on Twitter, the Premier said that the National Security Committee (NSC) has come up with two major decisions, which include adopting a zero-tolerance policy against terrorists and forming a roadmap to revive the economy of Pakistan.

    A day earlier, the second round of the National Security Committee (NSC) meeting reiterated a “zero tolerance” policy for terrorism in the country, according to the Prime Minister’s Office (PMO).

    A press release issued by the PMO after the meeting’s conclusion said the NSC reaffirmed its determination to take on “any and all entities that resort to violence”, adding that any violence would be dealt with the “full force of the state”.

    On December 30, 2022, the forum vowed to respond firmly to resurgent terrorism in the country and declared militants as “enemies of Pakistan”.

    On the other hand, Defence Minister Khawaja Asif on Monday said that Afghanistan’s soil is being used against Pakistan despite an agreement with the Taliban government.

    During Geo News’ programme ‘Aaj Shahzeb Khanzada Kay Sath’, the minister urged the Taliban to fulfill commitments made in the Doha deal.

    “The Pakistani government is in constant touch with Afghanistan in connection with border violations”, he said.

    Over the past few months, the law and order situation in the country has worsened, with terrorist groups like the outlawed Tehreek-e-Taliban Pakistan (TTP) executing attacks across the country.

  • PPP unhappy with PM Shehbaz for ignoring them: report

    PPP unhappy with PM Shehbaz for ignoring them: report

    Pakistan People’s Party (PPP) is unhappy with Prime Minister (PM) Shehbaz Sharif for ignoring the party in Khyber Pakhtunkhwa (KP), reports ARY News.

    According to the news outlet, PPP is annoyed at the fact that more importance is being given to Jamiat Ulema-e-Islam Fazal (JUI-F) in the province.

    PPP has reportedly complained about the matter and expressed reservations over PM Shehbaz’s visit last week to Dera Ismail (DI) Khan on JUI-F’s request while ignoring PPP during his visit to Mangala Dam.

    PPP Chairman Bilawal Bhutto-Zardari has also assured his party leaders of raising this matter with the premier.

    It is to be noted that PPP is a key ally of the Pakistan Democratic Movement (PDM).