ISLAMABAD: Pakistan’s economic indicators are showing positive signs, with an agenda of painful reforms and privatization on track, Prime Minister Shehbaz Sharif said on Friday, ahead of an IMF board meeting to decide on a $1.1 billion funding for the country.
The prime minister said, in an address to his cabinet that was telecast live, that exports and remittances had shown a rise within one-and-a-half month of his government.
The IMF board is meeting on Monday to decide on the disbursement of the second and last tranche of a $3 billion standby arrangement Islamabad secured last summer to avert a sovereign default.
With a chronic balance of payment crisis, Pakistan needs $24 billion in payments for debt and interest servicing in the next fiscal year starting July 1 — three-time more than its central bank’s foreign currency reserves.
The South Asian nation is seeking yet another long-term, larger IMF loan. Pakistan’s Finance Minister, Muhammad Aurangzeb, has said Islamabad could secure a staff-level agreement on the new program by early July.
If successful, it would be the 24th IMF bailout for Pakistan.
The IMF-led structural reforms require Pakistan to raise its tax to GDP ratio from around 9 percent to at least 13 percent-14 percent, stop losses in state-owned enterprise and manage its energy sector losses which run into trillions of rupees.
“It is not just for an antibiotic to work anymore. It needs a surgery,” Sharif said.
Pakistan’s finance ministry expects the economy to grow by 2.6 percent in the current fiscal year ending June, while average inflation is projected to stand at 24 percent, down from 29.2 percent in fiscal year 2023/2024.
Inflation soared to a record high of 38 percent last May.
Pakistan’s economic conditions improving, reforms and privatization on track — PM
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Pakistan’s economic conditions improving, reforms and privatization on track — PM
- Sharif says exports and remittances had shown a rise within one-and-a-half month of his government
- Pakistan’s finance ministry expects the economy to grow by 2.6 percent in the current fiscal year ending June
Pakistan discovers gas reserves in northwest with potential to produce 2.14 million cubic feet daily
Pakistan discovers gas reserves in northwest with potential to produce 2.14 million cubic feet daily
- Discovery is expected to enhance the South Asian nation’s energy self-sufficiency, says state media
- Pakistan had recently reported decline in gas reserves, raising concerns about higher energy imports
ISLAMABAD: Pakistan’s Oil and Gas Development Company Limited (OGDCL) has discovered gas reserves in the northwestern Khyber Pakhtunkhwa province with the capacity to produce 2.14 million cubic feet of gas per day (MCFD), the state broadcaster reported on Thursday.
Pakistan heavily relies on oil and gas imports and has faced gas outages in recent years due to a decline in domestic gas supplies and failed attempts to purchase expensive gas from the international spot market.
Last year in June, the Energy Planning Resource Center, which operates under the planning ministry, reported a sharp decline in gas reserves, raising concerns about future gas production and supply in Pakistan. The center projected that natural gas production might shrink to 2,306 MCFD by 2030.
“Under the natural resources exploration projects of the Special Investment Facilitation Council, the OGDCL has discovered significant gas reserves in Khyber Pakhtunkhwa,” Radio Pakistan said. “The discovered reserves are capable of producing up to 2.14 million cubic feet of gas per day.”
It added the discovery would enhance Pakistan’s energy self-sufficiency and pave the way for further exploration in the mining sector.
In October, the China Central Depository and Clearing Company signed a deal with the OGDCL to develop Pakistan’s tight gas potential. Tight gas, a type of unconventional gas requiring advanced extraction methods, is found in reservoir rocks with low permeability, most often sandstone.
In February, the OGDCL announced the discovery of a new natural gas reserve in the Khairpur district of southern Sindh province.
In October last year, Mari Petroleum Company Limited, an Islamabad-based petroleum exploration and lease company, unveiled a substantial gas discovery in Pakistan’s southern Ghotki-Sindh region, with initial estimates indicating a daily yield of 1.11 MCFD.
In September 2022, the OGDCL also discovered gas deposits in the Kohat district of Khyber Pakhtunkhwa province.
Founded in 1961, the OGDCL explores, drills, refines and sells oil and gas in Pakistan. The company has gained importance as the country seeks to boost domestic supplies and attract foreign investment.
South Africa win toss and choose to bowl first in Boxing Day test
- The pitch at Centurion traditionally offers plenty of seam movement for the bowlers
- Pakistan has selected a side without a specialist spinner, brought back Babar Azam
PRETORIA: South Africa won the toss and put Pakistan into bat on the opening day of the first test at Centurion on Thursday, hoping to make early inroads with an all-out pace attack.
South Africa are chasing a place in next year’s World Test Championship final but, in order to do so, must win at least one test in the two-test series against Pakistan.
“It was a tricky decision to make but we’d like to have a go with the new ball,” said South Africa captain Temba Bavuma after winning the toss.
The pitch at Centurion traditionally offers plenty of seam movement for the bowlers.
The home side named their team on Tuesday with 30-year-old fast bowler Corbin Bosch to debut in an all-seamer bowling line-up, joining Marco Jansen, Kagiso Rabada and Dane Paterson in the home attack as he gets an opportunity because of a long injury list among the country’s fast bowlers.
Pakistan also selected a side without a specialist spinner, with Mohammad Abbas, Aamer Jamal, Naseem Shah and Khurram Shahzad in their bowling attack.
Abbas plays a first test in three years while Naseem is back after being dropped for the last two tests against England in October. Shahzad was injured for that three-test series.
“The last couple of times we’ve played at Centurion, we’ve gone with the seam attack and we’ve seen some success. The pitch does not favor the spinners at all,” said Bavuma.
“Conditions favor the seamers,” added Pakistan captain Shan Masood, “but you get a lot of value for your shots so it’s about picking the right balls and getting a decent first innings score on the board.”
Babar Azam, also dropped for the last two tests against England at home in October, returns which means Masood will open the batting alongside Saim Ayub.
The 22-year-old Ayub scored two centuries as Pakistan thrashed South Africa 3-0 in their One Day International series last week.
Teams:
South Africa: Tony de Zorzi, Aiden Markram, Ryan Rickelton, Tristan Stubbs, Temba Bavuma (captain), David Bedingham, Kyle Verreynne (wicketkeeper), Marco Jansen, Corbin Bosch, Kagiso Rabada, Dane Paterson.
Pakistan: Shan Masood (captain), Saim Ayub, Babar Azam, Kamran Ghulam, Mohammad Rizwan (wicketkeeper), Saud Shakeel, Salman Ali Agha, Aamer Jamal, Naseem Shah, Khurram Shahzad, Mohammad Abbas.
Tributes pour in as acclaimed Pakistani writer Bapsi Sidhwa dies at 86
- Born in Karachi and raised in Lahore, Sidhwa was known for keen social observations and vivid storytelling
- Her novel ‘Cracking India,’ a poignant account of Partition, was adapted into acclaimed film by Deepa Mehta
ISLAMABAD: Bapsi Sidhwa, one of Pakistan’s most celebrated writers and a pioneering voice in English-language literature, passed away on Wednesday in Houston, Texas, at the age of 86, according to media reports quoting her family.
Born in Karachi in 1938 and raised in Lahore, Sidhwa belonged to Pakistan’s Parsi community and became an influential literary figure with her keen social observations and vivid storytelling.
Her novel “Cracking India,” a poignant account of the 1947 Partition through the eyes of a young girl, was adapted into the internationally acclaimed film “Earth” by Deepa Mehta in 1998.
The deceased writer also left an imprint over readers in other parts of the world with interest in both literature and South Asian politics.
“One of Pakistan’s greatest writers and one of my last connections to my father … has died,” Iona Italia, managing editor of Quillette, an online publication focusing on long-form analysis and cultural commentary, said in a social media post.
“‘Cracking India’ is the best account of Partition ever written,” she added. “RIP Bapsi Sidhwa, Parsi lady of renown.”
Pakistani politician Khurram Dastgir-Khan highlighted her role as a trailblazer in Pakistani literature, saying, “RIP Bapsi Sidhwa. Pakistan-born novelist. Trail-blazer. Author of ‘The Crow Eaters’ & ‘The Ice Candy Man.’ Claimed English as an authentic Pakistani language.”
Razi Ahmed, the CEO and founder of the Lahore Literary Festival, said Sidhwa’s work would continue to inspire writers around the world.
Known for her wit and incisive critique of social norms, Sidhwa’s works remain an essential part of South Asian literature curricula worldwide.
Her other notable novels include “The Bride” and “An American Brat,” which explore issues of tradition, modernity and the diaspora experience. Sidhwa moved to the United States in the 1980s but continued to write passionately about Pakistan.
Madiha Afzal, a think tank scholar at Washington’s Brookings Institution, shared the news of Sidhwa’s death with a brief excerpt from her writings on Lahore, reminiscing about the gardens and fragrances of the city.
Zebunnisa Burki, a Pakistani journalist, summed up her influence, saying: “Bapsi Sidhwa: the OG desi writer. May she rest in words.”
The deceased writer’s funeral arrangements are planned in Houston.
Explosion at gas pipeline disrupts supply to parts of southwest Pakistan
- Police say unidentified individuals planted an explosive device along the pipeline near Quetta
- Sui Southern Gas Company says repair work will start Friday after the area’s security clearance
QUETTA: An 18-inch diameter gas pipeline was destroyed by an explosion in Pakistan’s southwestern Balochistan province on Wednesday evening, officials confirmed, suspending gas supply to several areas of the province, including its capital, Quetta.
Balochistan, Pakistan’s largest province by area, is rich in natural resources, including significant natural gas reserves. The Sui gas field, located in the province, is one of the country’s largest and supplies a substantial portion of Pakistan’s natural gas needs.
Attacks on gas pipelines in Balochistan are not unprecedented. Militant groups, particularly Baloch separatists, have a history of targeting infrastructure to express grievances over the alleged exploitation of the province’s resources without adequate benefit to the local population, a charge the government denies.
These groups have previously carried out attacks on gas pipelines, power lines, and other infrastructure, disrupting supplies and causing economic losses. The latest incident targeting the pipeline occurred at Quetta’s western bypass, according to a local police official.
“The explosion has damaged the gas pipeline while police and other law enforcing agencies have commenced investigation,” Mehmood Kharoti, Station House Officer of Brewery Police Station, told Arab News.
He said unidentified individuals had planted an explosive device along the pipeline in the Killi Khali area.
The Sui Southern Gas Company (SSGC) also issued a statement confirming the incident.
“The main gas supply line caught fire after the explosion which has been controlled by the SSGC team but gas supply has been suspended in many parts of Quetta, Kuchlak, Pishin, Yaro, Karbala and Huramzai,” the statement said.
“The repair work of the damaged gas pipeline will be started tomorrow after the security clearance by the law enforcement agencies,” it added.
Balochistan, which shares borders with Iran and Afghanistan, has experienced a low-level insurgency for decades. Baloch nationalists have called for greater autonomy and a larger share of the region’s resource wealth. The Pakistani government says it has launched several development projects in the region to address these concerns, but tensions persist.
So far, no group has claimed responsibility for the latest attack.
Nearly 300 killed in militant attacks in Pakistan’s Balochistan province in 2024 — official data
- Balochistan witnessed a rise in separatist violence, reporting 563 attacks in which over 500 were injured
- Security analysts say only genuine political process can establish long-term peace in restive Balochistan
QUETTA: Pakistan’s volatile Balochistan province witnessed a dramatic surge in militant violence in 2024, as government data exclusively obtained by Arab News on Wednesday revealed nearly 300 people, including civilians and soldiers, were killed in over 550 attacks reported across various districts of the province this year.
Most attacks were carried out by Baloch separatist groups, primarily the Balochistan Liberation Army (BLA), which also launched coordinated assaults, including suicide bombings, targeting Pakistani security forces and Chinese nationals in the southern region of the country.
Balochistan, sharing porous borders with Afghanistan to the north and Iran to the west, has experienced a low-level insurgency by Baloch separatist and other armed groups for the last two decades.
These groups accuse Islamabad of exploiting the province’s mineral resources without benefitting its people, claims the government denies, asserting it has initiated several development projects to bring the region on par with other provinces.
“296 people including the civilians and soldiers of Pakistan’s armed forces were killed and more than 500 were injured in 563 attacks reported in Balochistan from January 1st to December 20th, 2024,” the provincial home department’s annual report, exclusively obtained by Arab News, said.
“44 percent of the total attacks were reported against Pakistan’s armed forces operating in Balochistan including the Pakistan Army, Frontier Corps (FC) Balochistan, Police, Levies, and Pakistan Coast Guards, while 81 settlers (people from other provinces) and 37 civilians were killed in dozens of attacks this year,” it added.
The official data revealed that February and August, months when Pakistan held general elections and celebrated its independence, were the deadliest, with 187 attacks of varying nature and scale reported across Balochistan, claiming 119 lives.
Last month, Pakistan announced a “comprehensive military operation” against Baloch separatists and their hideouts in the mountainous region following a deadly suicide bombing at the crowded railway station in Quetta, which killed more than two dozen people, including Pakistan Army soldiers.
Shahid Rind, the provincial spokesperson, confirmed the annual number of attacks and casualties while speaking to Arab News.
“The provincial government has been implementing the decisions made in the federal apex committee meeting in November alongside the objectives of its own provincial action plan to counter this new wave of terrorism in Balochistan,” he said.
“The provincial administration, together with federal and provincial law enforcing agencies, will move as the whole of the government to impart a sense security among the masses, foreign investors and business community,” he continued.
POLITICAL PROCESS
Speaking to Arab News, Abdul Basit, a research fellow at the S. Rajaratnam School of International Studies in Singapore, called 2024 a year of offensive guerrilla warfare from defensive guerrilla warfare by the Baloch militant groups.
“The separatist groups showed a new trend of coordinated attacks and taking over the provincial highways for hours,” he said.
“Balochistan needs a genuine political process for long-term peace because the ethnic Baloch nation has lost trust in the political process,” he continued. “Instead of empowering dummy leadership in Balochistan, the state has to work with genuine leadership that has roots in the masses.”
Safdar Sial, a research analyst at the Pakistan Institute for Peace Studies (PIPS), agreed with him, pointing out that the Pakistani authorities had mainly relied on “kinetic operations” and the frequency of military actions was likely to intensify further.
However, he added that it was important to adopt the political approach to prevent recruitment by the militant organizations.
“Government should take soft and political measures to alienate Baloch insurgents from the Baloch masses,” he said.
