At least one killed as ex-PM Khan’s arrest sparks protests across Pakistan

Pakistan Tehreek-e-Insaf (PTI) party supporters of former Pakistan's Prime Minister Imran gather amid teargas fired by police during a protest against the arrest of their leader, in Peshawar, Pakistan, on May 9, 2023. (AFP)
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Updated 09 May 2023
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At least one killed as ex-PM Khan’s arrest sparks protests across Pakistan

  • Rangers arrest Khan in Al-Qadir Trust case relating to purchase and transfer of land for a university in Punjab province
  • Reports of protests in Lahore, Peshawar, Karachi, Quetta, Islamabad, Rawalpindi, Gilgit-Baltistan

KARACHI/PESHAWAR/QUETTA: Former Prime Minister Imran Khan was arrested in Islamabad by the paramilitary Rangers force on Tuesday, triggering nationwide protests in which at least one person was killed in the southwestern city of Quetta, according to a hospital spokesperson.

The protests have threatened fresh turmoil in the South Asian nation as it faces its most daunting economic crisis to date, with record high inflation, anemic growth and barely enough foreign exchange reserves for four weeks of controlled imports.

Khan had arrived in the capital city from Lahore and was inside the premises of the Islamabad High Court (IHC) for two hearings on Tuesday afternoon when he was arrested in a separate case, the Al-Qadir Trust reference pending before an anti-graft court and relating to the purchase and transfer of land for a university in the Punjab province.

The arrest by paramilitary Rangers officials, who reportedly had warrants, took place a little after 2pm on Tuesday afternoon when Khan entered the building of the IHC. Media reported that dozens of paramilitary troops in riot-gear had to break several doors, jump through smashed windows and scuffle with Khan’s supporters and lawyers before arresting him and driving off with him in a black Vigo.

“I’m mentally ready to be arrested,” Khan had said in a video message to supporters before he left Lahore for Islamabad.

Khan will be presented before a National Accountability Court tomorrow, Wednesday. His medical examination, usual for suspects after arrests, was carried out on Tuesday.

NAB in a statement said Khan was booked under Section 9A of the National Accountability Ordinance 1999, which relates to “corruption and corrupt practices.”

"The arrest was ordered and implemented by the NAB," the accountability watchdog said. "Rangers troops were deployed for the action on the orders of the Ministry of the Interior."

Authorities in three of Pakistan's four provinces imposed an emergency order banning all gatherings as Khan's supporters clashed with police, blocked major roads in a string of cities and reportedly stormed military buildings in Lahore and Rawalpindi, according to witnesses and videos shared by Khan’s party. Arab News could not independently verify this, and the army did not respond to messages seeking comment.

Previous attempts to arrest Khan from his Lahore residence resulted in heavy clashes between his supporters and law enforcement personnel earlier this year.

Khan's arrest comes on the heels of the army’s warning about legal action over accusations by Khan that a serving military official, Maj Gen Faisal Naseer, was plotting to kill him.

Just hours before his arrest, Khan doubled down on the allegations in a video message.

On Tuesday night, the Islamabad High Court ruled in a much-awaited order that Khan’s arrest was legal, dashing the hopes of his party and supporters that he would be released.

PROTESTS

Soon after Khan’s arrest, his supporters poured into the streets across Pakistan, blocking main roads, disrupting traffic and chanting anti-government slogans. The PTI said one supporter was killed in the southwestern city of Quetta, but police did not confirm the killing.




Pakistan Tehreek-e-Insaf (PTI) supporters are seen protesting against the arrest of former Pakistan's Prime Minister Imran in Quetta, Pakistan, on May 9, 2023. (AN photo)

“You will have to come out for real independence,” Khan’s Pakistan Tehreek-e-Insaf said on Twitter in a protest call to supporters. “The time has come that you will have to come out [on the streets] for the sake of your country.”

Quetta

A spokesman for Quetta Civil Hospital, Waseem Baig, said one dead body and six injured people were brought to the hospital after a protest broke out on Quetta's Askari Chowk.

Protests first broke out on Airport Road in Quetta, the capital of Pakistan's southwestern Balochistan province, where scores of PTI supporters had gathered to demand Khan's release. Airport road connects Quetta with Chaman and other districts in the province.

PTI's senior leader in Balochistan, Abdul Bari Barrech, said the party would hold protests in all districts of the province and keep blocking major highways until Khan was released.

"We are on the street not for Imran Khan or PTI but for Pakistan and we request all Pakistanis to come out for the better future of their children," Barrech told Arab News.

PTI's provincial spokesperson Asif Tareen said one protester had been shot dead by police but Deputy Inspector General of Police Asfar Mehsar told Arab News police did not use weapons against protesters. He said over a dozen protesters had been arrested.

Lahore

In the city of Lahore, where Khan has been based since he was injured in an apparent assassination bid last year and where he grew up, supporters gathered outside his residence in the Zaman Park neighbourhood and there were reports of several rounds of clashes with police.  

Supporters also gathered at Lahore's Liberty Chowk area where the party has held several large rallies over the past year.

An Arab News witness in Lahore reported that supporters pelted stones at police on Canal Road, Liberty, Cantt and near the military Corps Commander House. Police opened tear gas in response. Major roads in the city were blocked.

A PTI post on Twitter showed scenes from the streets of Lahore:

Media reported party supporters had closed down Akbar Chowk, Peco Road, Main Canal Road and Faisal Town in Lahore. The demonstrators burnt tyres and chanted slogans against the coalition government.

A statement issued by Lahore police said the city was on high alert and security across the city had been beefed up on the instructions of Lahore Deputy Inspector General (Operations) Syed Ali Nasir Rizvi.

“Nobody can be allowed to destroy peace in the city,” the statement quoted Rizvi as saying.

Karachi

Scores of Khan supporters also took to the streets in Pakistan's most populous city of Karachi, the country’s commercial hub, blocking the city's busiest main road, Shahrah-e-Faisal, which leads to the airport.

Police used tear gas shelling to push back supporters and get the road opened. There were reports of clashes between police and protesters in other parts of the city also.

Meanwhile, the PTI's Sindh spokesperson said PTI Sindh President Ali Haider Zaidi, a close Khan aide and popular leader in Karachi, had been arrested, along with around 20 other supporters. 

Peshawar

In the northwestern province of Khyber Pakhtunkhwa, former federal minister and Khan aide, Zartaj Gul Wazir, led a group of supporters in Ghazi Ghat city, blocking traffic.

Scores of angry Khan supporters chanting slogans against the government also took to the streets in the provincial capital of Peshawar, where Khan’s party held power from 2013 until earlier this year. There were reports protesters pelted police with stones near Assembly Chowk, with police retaliating with tear gas shelling to disperse demonstrators.




Paramilitary soldiers from Frontier Corps stand guard outside their headquarters, where supporters of Pakistan's former Prime Minister Imran Khan protest against the arrest of their leader, in Peshawar, Pakistan, on May 9, 2023. (AP)

PTI protesters also tried to enter the city’s Cantt area where important military and government buildings and residences are housed, but were blocked by police from doing so.

"Peshawar is taking to the streets. Today, you need to decide where you stand. Whatever city you're in, get out," Taimur Khan Jhagra, a prominent leader of the PTI from Khyber Pakhtunkhwa, wrote on Twitter.

Islamabad/Rawalpindi

A large number of PTI supporters also gathered at Faizabad, the busiest connecting point between the twin cities of Islamabad and Rawalpindi. There are reports of a massive traffic jam on the Srinagar Highway in the capital, Islamabad.

There were unconfirmed reports that protesters had gathered outside the military’s GHQ headquarters in Rawalpindi.

Gilgit-Baltistan

Khan supporters also took to the streets in the northern Gilgit-Baltistan region, especially the Ghanche district, barricading a road in Khaplu Bazaar and burning tires.

ECONOMIC CRISIS

Since being ousted from power in a parliamentary no-trust vote last April, over 100 cases have been registered against Khan in various courts in the country, with charges ranging from corruption to terrorism and sedition.

Khan says the cases are politically motivated to crack down on his Pakistan Tehreek-e-Insaf, arguably the most popular political party in the country. In recent months, many senior Khan aides have had cases registered against them and been arrested.

The fresh political crisis comes as Pakistan and the IMF are in ongoing talks aimed to resume stalled funding of $1.1 billion due in November from a $6.5-billion program agreed in 2019. The measures have fueled highest ever inflation, posted at 36.4% in April.

The IMF funding is crucial for Pakistan to avert default on its external payment obligations during a balance of payment crisis.

After Khan’s arrest the Pakistan Stock plunged 455 points, equity analysts said, nosediving by over one percent to close at 41,373.

“There were already a couple of things going on, including on the International Monetary Fund (IMF) front and that financing gap still prevails and they [IMF] are asking for a further interest rate hike so that sentiment was negative since yesterday,” Tahir Abbas, head of Research at Arif Habib Limited, told Arab News.
 
“After the arrest of Imran Khan, the market nosedived ... The move has further increased political uncertainty.”  

Ahsan Mehanti, a senior equity analyst, said protests after the arrest of Imran Khan had also contributed to the downfall of the stocks.  

“Stocks fell sharply amid political uncertainty after the arrest of the PTI chief and unrest in Karachi,” he said.  

With inputs from Haseeb Asif in Lahore, Fatimah Amjad and Aamir Saeed in Islamabad, Khurshid Ahmed in Karachi and Nisar Ali in Ghanche, Gilgit-Baltistan.


Pakistan government hopes for calm as Imran Khan’s party claims eight dead in Islamabad clashes

Updated 15 sec ago
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Pakistan government hopes for calm as Imran Khan’s party claims eight dead in Islamabad clashes

  • PTI workers retreated from the capital where they planned a sit-in after police, paramilitary launched operation
  • Interior minister says Khan’s wife and KP chief minister are ‘on the run,’ with PTI not sharing their status

ISLAMABAD: Pakistan’s Interior Minister Mohsin Naqvi voiced optimism for normalcy in Islamabad early Wednesday as former Prime Minister Imran Khan’s supporters withdrew following intense clashes with police and paramilitary Rangers, with his party claiming at least eight protesters were killed.
The unrest unfolded as police and Rangers launched an operation to disperse Pakistan Tehreek-e-Insaf (PTI) protesters who aimed to stage a sit-in near parliament and key government installations, demanding the release of Khan, who has been in prison for over a year.
Led by Khan’s wife, Bushra Bibi, and Khyber Pakhtunkhwa Chief Minister, Ali Amin Gandapur, the protest march began on November 24 with a “final call” by the ex-premier to his supporters, with many of them vowing not return until Khan was freed.
Speaking to the media, Naqvi said the protesters had fled, adding that Bibi and Gandapur were also “on the run.”
“You saw them fleeing— thousands, not just one or two or three,” he said, referring to the protesters.
“For us, the most important thing is to restore all the roads in Islamabad that were blocked. Reopen mobile phone and Internet services. By tomorrow, you will find the roads operational,” he added.
Naqvi praised the Rangers for their “amazing performance” and urged Khan’s party to reconsider its approach.
“How many times do you intend to repeat such actions,” he asked. “Please, stop now. Today alone, the stock exchange dropped by 3,500 points. Hopefully, tomorrow will bring a new day with a fresh perspective.”
In a separate news conference, Information Minister Attaullah Tarar accused the PTI of suffering a “major political failure,” saying their leaders came to free Khan but ended up with many of their workers arrested.
“This wasn’t a final call,” Tarar remarked. “It was a missed call.”
“This has become a major political failure for them because their intentions were not right,” he continued. “They have suffered significant losses and will not be able to recover from this.” 
Tarar further alleged that PTI’s protest aimed to disrupt the visit of Belarusian President Alexander Lukashenko, who is on a three-day visit to Islamabad, and damage the country’s economy.
“Their schemes have been reduced to dust,” he added.
PTI Alleges ‘Massacre’
Meanwhile, PTI accused the government of using excessive force against its supporters. In a strongly worded social media post, the party described the crackdown as a “massacre” by the state.
“A massacre has unfolded in Pakistan at the hands of security forces... firing live rounds with the intent to kill as many people as possible. Pakistan is experiencing its darkest hour since the massacre in East Pakistan in 1971,” the party wrote.
The PTI claimed “dozens” of its supporters were killed in a separate statement, adding it had identified eight victims so far.
In an appeal to the Chief Justice of Pakistan, the party called for suo motu action and murder charges against Prime Minister Shehbaz Sharif, the interior minister, and police chiefs in Islamabad and Punjab.
“Dozens of unarmed and innocent workers were shot dead on the orders of the fascist regime,” the PTI said in its statement.
It added that the party planned to review the situation with its leadership, including Khan, to decide on its next steps.
None of the PTI statements share the current status and location of Bibi and Gandapur.
A day earlier, Amnesty International urged the Pakistan government to ensure the rights of protesters and rescind alleged “shoot-on-sight” orders.
“The severe restrictions on assembly, movement, and mobile and Internet services, as well as arbitrary detentions of thousands of protesters across Pakistan, particularly in Islamabad, are a grave violation of the rights to freedom of peaceful assembly, movement, and expression,” the organization said on X, formerly Twitter.


Threats from Middle East conflict affecting Pakistan maritime security needs — naval chief

Updated 27 min 52 sec ago
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Threats from Middle East conflict affecting Pakistan maritime security needs — naval chief

  • Says Iran’s standoff with US and Israel may manifest into “precarious situation” for ships plying along Sea Lines of Communication
  • Pakistan has recently inducted PNS Babur and PNS Hunain, two state-of-the-art warships, into its fleet to enhance maritime security 

KARACHI: Pakistani Naval Chief Admiral Naveed Ashraf said this week growing regional threats due to the conflict in the Middle East had necessitated a “robust, adaptive, and technologically advanced” navy and pushed Islamabad to reevaluate its maritime security needs. 

Pakistan has recently inducted PNS Babur and PNS Hunain, two state-of-the-art warships, into its fleet as part of a broader effort to enhance its maritime security and operational readiness. 

In an interview with the Naval News website, Admiral Ashraf explained the effects on naval technologies of a changing regional geopolitical environment due to the “ongoing Israel-Gaza conflict with its butterfly effect in Yemen and Iran.”

“The already volatile maritime security environment coupled with a diverse range of traditional and non-traditional maritime threats necessitates a robust, adaptive, and technologically advanced Navy with well-trained HR,” he said.

“Therefore, since assuming command as Chief of the Naval Staff, the most pressing challenge was to boost combat readiness through optimal utilization of resources and completion of ongoing Projects under financial constraints in order to boost the Pakistan Navy’s prowess in the increasingly complex maritime security environment in the region.”

Admiral Ashraf said Pakistan was in the midst of complex geo-political and geo-economic competition prevailing in the region and its maritime security was intertwined with the maritime environment in the Indian Ocean, which was rapidly transforming. 

“In our immediate neighborhood, long-drawn instability in Afghanistan simmers and continues to impinge upon regional security. On our eastern side, India is disturbing regional peace by blatantly provoking its neighbors,” the officer said. 

“On our Western flank, Iran’s standoff with the US and Israel may manifest into a precarious situation for the shipping plying along the international Sea Lines of Communication (SLOCs).”

The ongoing Israel-Hamas conflict, with a spillover in the maritime arena after missile strikes by Houthis on merchant traffic and counter strikes on the Yemen mainland by the US-led West, had created conditions for enhanced ERF presence in the region, Ashraf said, referring to Engine Reliability Fix (ERF), a Naval Aviation Enterprise initiative that aims to improve the lifespan of engines on various aviation platforms.

“Access to shore-based missiles and remotely operated vehicles to the warring groups is a serious threat to SLOCs transiting the Red Sea and the Gulf of Aden,” he added. 

In the non-traditional domain, maritime terrorism, piracy, drug trafficking, gun running and human smuggling were other challenges, Admiral Ashraf said, describing Pakistan’s regional maritime security as an “ominous hybrid mix of traditional and non-traditional threats.”

“Operationally, we believe in hybrid approach that combines manned and unmanned systems for naval operations,” he added. 

“This strategy enables us to leverage the strengths of both types of platforms, optimizing operational flexibility and effectiveness. By integrating unmanned technologies with traditional manned systems, what I have observed is that operational gaps have been duly addressed, especially with regards to surveillance while substantially cutting repair/ maintenance and operating costs.”


Pakistan says over 24,000 Hajj applications received so far for 2025 pilgrimage 

Updated 37 min 46 sec ago
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Pakistan says over 24,000 Hajj applications received so far for 2025 pilgrimage 

  • Saudi Arabia has allotted Pakistan a total quota of 179,210 pilgrims for the upcoming Hajj pilgrimage
  • Quota of 5,000 has been allocated this year for overseas Pakistanis on “first-come-first-served basis”

ISLAMABAD: Over 24,000 Hajj applications by Pakistani pilgrims had been received by designated banks by Tuesday, Radio Pakistan reported, as the nation prepares for the annual pilgrimage slated to be held in June next year.

Saudi Arabia has allotted Pakistan a total quota of 179,210 pilgrims for the upcoming Hajj pilgrimage, to be divided equally between the government and private schemes. Around 15 designated Pakistani banks started receiving applications for Hajj 2025 from intending pilgrims on Monday this week. 

The deadline to file Hajj applications is Dec. 3 while the draw for the government scheme will be held on Dec. 6.

“Receiving Hajj applications under the Government Scheme, through designated banks, is gaining momentum,” Radio Pakistan reported.

“Today, four thousand Hajj applications were received, bringing the tally to twenty-four thousand, two hundred and sixty-six.”

A quota of 5,000 has been allocated for overseas Pakistanis on a “first-come-first-served basis,” the religious affairs ministry said on Monday. 

The ministry announced the country’s Hajj 2025 policy earlier this month, according to which pilgrims can pay fees for the annual pilgrimage in installments for the first time.

Under the government scheme, the first installment of Hajj dues, amounting to Rs200,000 ($717), has to be deposited along with the Hajj application, while a second installment of Rs400,000 ($1,435) must be deposited within ten days of the balloting. The remaining amount has to be deposited by Feb. 10 next year.

On Sunday, Pakistan’s religious affairs ministry said it had launched the “Pak Hajj 2025” mobile application to guide and facilitate pilgrims. The app is available for both Android and iPhone users.


Ex-PM Imran Khan party says wife, key aide not under arrest as Pakistan launches ‘operation’

Updated 26 November 2024
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Ex-PM Imran Khan party says wife, key aide not under arrest as Pakistan launches ‘operation’

  • Local media widely reported vehicles carrying Bushra Khan and Gandapur left Islamabad and entered Khyber Pakhtunkhwa
  • Interior minister says PM has ruled out talks with protesters demanding ex-PM Imran Khan’s release, six including four troops killed

ISLAMABAD: A spokesperson for jailed ex-premier Imran Khan said on Tuesday Bushra Khan, the former PM’s wife, and key party leader Ali Amin Gandapur, who were leading demonstrations in Islamabad to demand Khan’s release, had left a protest caravan but were safe amid widespread media reports they had been arrested.

At least six people, including four paramilitary soldiers and two protesters, were killed during clashes between security forces and protesters who made it on Monday night to the edge of Islamabad’s highly fortified red zone, home to key government and diplomatic buildings, before being pushed back by hundreds of security forces, according to Khan’s Pakistan Tehreek-e-Insaf (PTI) party. 

“We are trying to secure Bushra Bibi and Ali Amin for the next few hours because we have credible sources that the law enforcement plans to arrest them with a heavy hand,” Sayed Zulfikar Abbas Bukhari, a spokesman for the PTI party told Arab News when asked if Bushra and Gandapur had left the protest caravan. He confirmed they had not been arrested. 

Bukhari declined to disclose where the two protest leaders were but confirmed that their protest caravan, which was nearing the D-Chowk public square in the red zone, had been pushed further back to the capital’s Chongi 26 area by “hundreds” of security officials. 

Two security officials, declining to be named, told Arab News an “operation” had been launched against the PTI protest, declining further details.

Pakistani local media widely reported that police chased cars carrying Bushra and Gandapur, but their vehicles entered Khyber Pakhtunkhwa, a northwestern province where PTI is in power and where the federal government does not have jurisdiction. 

Supporters of Khan’s PTI on Tuesday reached D-Chowk for a “do or die” sit-in that they say will go on until Khan is freed from prison. 

The former premier has been jailed since August last year and faces a slew of charges from corruption to terrorism that he says are politically motivated to keep him behind bars and away from politics. 

Speaking to reporters, Interior Minister Mohsin Naqvi ruled out talks with protesters. 

“In today’s meeting, the clear-cut decision of the prime minister and others is that there will be no talks with these protesters,” Naqvi said after Prime Minister Shehbaz Sharif met his cabinet and other top officials on Tuesday evening. 

Information Minister Ataullah Tarar said the government had agreed to offer the protesters space on the outskirts of Islamabad to hold their protest and would have facilitated them in their activities. 

“But why do they want to go to D-Chowk?” the information minister asked. “Because they want to cause damage to the life and property of Islamabad’s citizens. They have among them Afghan nationals, terrorists, dacoits.” 

In a message shared with supporters from jail by his team, Khan, 72, urged his followers to stay peaceful but to stand firm till the end. 

“My message for my team is to fight until the last ball is bowled. We will not back down until our demands are met!”

LOCKDOWN

As thousands of rally goers left for Islamabad on Sunday in protest caravans, authorities shut down major highways leading to the capital and used shipping containers to block major roads and streets inside the city. Mobile Internet links and apps like WhatsApp have been down since the weekend and schools have been closed for several days in the capital and the nearby garrison city of Rawalpindi. 

Last week, the district administration also banned public gatherings in Islamabad for two months, and on Monday, the interior ministry invoked Article 245, calling in the army to maintain law and order. 

On Tuesday afternoon, protest leader Ali Amin Gandapur urged protesters to camp at the D-Chowk square and not advance further into the red zone. 

“D-Chowk means D-Chowk,” the chief minister told supporters from atop a truck en route to the public square. “Beyond that, as long as Imran Khan’s orders, Imran Khan’s instructions are not given, we will not go beyond that area and we will respect his instructions.”

Amnesty International called on the Pakistan government to protect and ensure the rights of protesters and “immediately rescind the ‘shoot-on-sight’ orders that provide undue and excessive powers to the military.”

“The severe restrictions on assembly, movement and mobile and Internet services as well as arbitrary detentions of thousands of protesters across Pakistan, particularly in Islamabad, are a grave violation of the rights to freedom of peaceful assembly, movement and expression,” the rights group said on X.


Pakistan urges World Bank support on economic reforms, development agenda

Updated 26 November 2024
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Pakistan urges World Bank support on economic reforms, development agenda

  • IMF approved a $7 billion bailout loan for Pakistan in September that comes with a tough economic reforms agenda
  • IMF is pushing Pakistan to continue prudent fiscal and monetary policies, mobilize revenue from untapped tax bases

ISLAMABAD: Minister for Finance Muhammad Aurangzeb met World Bank Country Director Najy Benhassine on Tuesday and urged the international lender to support Pakistan in its economic reforms and development agenda, Radio Pakistan reported. 

The talks in Islamabad came less than two months after the IMF approved a $7 billion bailout loan for Pakistan that is attached to tough economic reforms. The IMF is pushing Pakistan to continue prudent fiscal and monetary policies, and to mobilize revenue from untapped tax bases.

Pakistan’s $350 billion economy has struggled for decades with boom-and-bust cycles, needing 23 IMF bailouts since 1958.

“During the meeting, the Finance Minister highlighted the importance of collaboration with the World Bank to support Pakistan’s economic reforms and development agenda,” Radio Pakistan reported. “The Finance Minister reiterated the government’s commitment to fiscal discipline, sustainable growth, and efficient resource utilization.”

The discussions focused on the establishment of a robust and transparent tax policy framework to enhance revenue mobilization and improve compliance while ensuring equitable taxation, the report said. 

The World Bank team also offered technical assistance to streamline the budget-making process, adopt modern practices to improve transparency and accountability in public financial management, and put in place an effective debt management mechanism to ensure fiscal sustainability and reduce risks.

Issues related to the Agricultural Income Tax Regime and GST harmonization in coordination with provinces and an enhanced focus on the active role of the National Tax Council also came under discussion.

“The Finance Minister expressed gratitude for the World Bank’s support and reaffirmed the government’s resolve to implement reforms aimed at sustainable economic progress,” the reported said, adding that the World Bank officials reiterated the lender’s commitment to assisting Pakistan in addressing economic challenges and achieving its developmental objectives.

The IMF, which approved the new bailout in September, has said the program will require “sound policies and reforms” to strengthen macroeconomic stability and address structural challenges alongside “continued strong financial support from Pakistan’s development and bilateral partners.”

The IMF said in its statement on approving the loan that Pakistan had taken key steps to restore economic stability with consistent policy implementation under the 2023-24 standby arrangement.

It added that growth had rebounded to 2.4 percent and inflation has receded significantly, falling to single digits, amid appropriately tight fiscal and monetary policies.

A contained current account and calm foreign exchange market conditions have allowed the rebuilding of reserve buffers, and the central bank of Pakistan has been able to reduce interest rates by 700 bps since June in four consecutive cuts.

Despite this progress, Pakistan’s vulnerabilities and structural challenges remain formidable and the tax base remains too narrow.

The South Asian country is the IMF’s fifth-largest debtor, owing the Fund $6.28 billion as of July 11, according to the lender’s data.