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Govt requests IMF mission chief to visit Pakistan as dollars dry up

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Govt requests IMF mission chief to visit Pakistan as dollars dry up

The federal government has sent a letter to the International Monetary Fund (IMF), requesting it to send its team to cash-strapped Pakistan next week to complete the ninth review for the release of next tranche of loan pending since September last.

The government, as per reports, has expressed willingness to implement on the four major conditions of the global lender for the revival of the loan programme as the foreign exchange reserves of the South Asian country continues to deplete, putting country’s essential imports at risk and triggering a new wave of inflation.

The four major demands made by the IMF to revive the progrmme, include increase in gas and electricity prices, market-based exchange rate and additional taxes to cover the fiscal deficit.

Secretary Finance Hamed Yaqoob Shaikh has formally written to the IMF mission chief to visit Pakistan next week in a last resort to restart the much-needed loan programme.

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An official told media that the government had completed working to implement the four IMF demands conveyed by the Fund officials in a meeting on the sidelines of the Geneva moot.

Another official said Pakistan was not in position to afford the failure in talks with the global lender as it could adversely affect the country.

The IMF approved seventh and eighth reviews together in August last and released more than $1.1 billion.

Minister of State for Finance Aisha Ghaus Pasha on Thursday told the Senate Standing Committee on Finance that the government wants to continue programme with the IMF in such a way that the common man should not bear the burden of tough decisions to be made as per the Fund’s condition.

Mrs. Pasha said that the government’s economic team was having meetings with the Prime Minister Shehbaz Sharif to focus on its programme with the IMF. She said the premier was not in favor of taking tax measures across the board that could put an extra burden on the poor and common people.

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To a question, she did not give any date when to start talks with the IMF team but she said that the government was firm to go with the programme after having a detailed workout. She said the government would try to convince the IMF about the worst situation in Pakistan after the disastrous floods last year. “The people are already suffering due to the disastrous flooding and they are not in a position to afford any further measures”.

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Senator Vawda for reexamination of non-filers’ exemption for Hajj and Umrah

Senator Vawda for reexamination of non-filers’ exemption for Hajj and Umrah

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Senator Vawda for reexamination of non-filers' exemption for Hajj and Umrah

Senator Faisal Vawda has said the exemptions to the non-filers for Hajj and Umrah package should be reexamined.

Speaking at the Senate Committee on Finance meeting on budget, he questioned why non-filers were given exemption for Hajj and Umrah.

He said the media employees’ salaries were cut down during the Covid pandemic which should be returned to them immediately.

However, the committee chairman asked the senator to suggest the meeting what can be done in this regard?

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A meeting should be held with the Ministry of Information to make housing schemes and give incentives to the media workers to mitigate their hardships, Vawda suggested.

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COAS Munir pledges full support for successful implementation of CPEC

COAS Munir pledges full support for successful implementation of CPEC

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COAS Munir pledges full support for successful implementation of CPEC

Chief of Army Staff Gen Asim Munir reaffirmed Pakistan’s unwavering commitment to the strategic partnership with China and pledged full support for the successful implementation of the China-Pakistan Economic Corridor (CPEC), a flagship project of China’s Belt and Road Initiative (BRI).

He expressed the resolve during a meeting with Liu Jianchao, Minister of the International Department of the Central Committee of the Communist Party of China (IDCPC), who called on him at General Headquarters on Friday.

During the meeting, both discussed matters of mutual interest, including regional peace and stability, and reviewed progress on the China-Pakistan Economic Corridor (CPEC).

Mr. Liu Jianchao highlighted that he is visiting Pakistan as a follow up of the successful meetings between the leadership of the two countries in China.

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Also Read: All parties on same page for execution of CPEC project: Deputy PM Ishaq Dar

He emphasised the significance of the longstanding brotherly relations between the two nations and expressed satisfaction with the progress achieved on CPEC, reiterating China’s commitment to its timely completion.

The visiting dignitary also commended Pakistan’s efforts in maintaining regional peace and stability, acknowledging the support of the Pakistan Armed Forces in providing security to Chinese nationals and projects in Pakistan.

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All political parties back CPEC, call it game changer

All political parties back CPEC, call it game changer

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All political parties back CPEC, call it game changer

Jamiat Ulema-e-Islam (JUI) chief Maulana Fazlur Rehman declared that there is a national consensus on CPEC in Pakistan.

Addressing the Pakistan-China joint consultative session, Maulana remarked that China always unconditionally supported Pakistan on the Kashmir issue, and Pakistan similarly supported China on the Taiwan issue. He stressed the need to complete suspended projects with China and enhance further cooperation, asserting that China’s protocol should remain intact.

Yusuf Raza Gilani

Senate Chairman Yusuf Raza Gilani, while addressing the meeting, highlighted that CPEC is a crucial project for economic development and that the fellowship between Pakistan and China is higher than the Himalayas. He described CPEC as the backbone of the Pakistani economy and a warrantor of a better future and development for both countries.

Ayaz Sadiq

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Speaker National Assembly Ayaz Sadiq said that Pakistan and China are supporters of peace and prosperity in the region. He believed that the CPEC project significantly contributed to social and economic development. Sadiq noted that CPEC would be strengthened by promoting relations between the political parties of Pakistan and China and that the BRI project further reinforced the ties between the two states. He mentioned that the CPEC project faced disinformation in the past. He said that despite it the project remains a catalyst for poverty reduction, economic growth, and trade promotion.

More to read: Pakistan, China agree to explore opportunities under CPEC

Ahsan Iqbal

Federal Planning Minister Ahsan Iqbal, speaking at the China-Pakistan Consultative Mechanism meeting, highlighted the unique friendly relations between Pakistan and China. He reiterated the national consensus on CPEC and assured that the Pakistani nation would never forget China’s support. Ahsan Iqbal stressed the importance of working together to secure the future and that the exchange of delegations would foster harmony between politicians from both sides. He highlighted that the political parties’ sitting together demonstrates a united political leadership. He thanked the Chinese leadership for their cooperation during Pakistan’s challenging times and mentioned that two-sided relations and cooperation were discussed during the Prime Minister’s visit to China.

Hina Rabbani Khar

Pakistan People’s Party leader and former minister Hina Rabbani Khar affirmed that all political parties are united in support of CPEC and underscored the significant role of Pakistan and China in the global scheme. She praised China’s progress in science and technology and noted that the People’s Party leadership laid the foundation for Pakistan-China relations. She mentioned that these relations were continued by Benazir Bhutto, Asif Zardari, and Bilawal Bhutto. Khar welcomed the representation of all political parties in the joint session. 

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