ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday highlighted his country’s policy of engagement with the Central Asian Republics during a meeting in Dushanbe with his Tajik counterpart, Qohir Rasulzoda, offering him the use of Pakistan’s Karachi port for transit trade.
Sharif arrived in Tajikistan on a two-day official visit a day earlier, ahead of his plan to attend the Shanghai Cooperation Organization (SCO) summit in Kazakhstan. The visit comes at a time when Pakistan is actively seeking to enhance its role as a pivotal trade and transit hub, connecting the landlocked Central Asian economies with the rest of the world by offering them access to the Arabian Sea.
The prime minister highlighted the “unlimited potential” for foreign investment in Pakistan’s key economic sectors during a meeting with Tajikistan President Emomali Rahmon after arriving in Dushanbe.
During his conversation with the Tajik premier on Wednesday, Sharif hailed the signing of the Strategic Partnership Agreement between the two sides a day earlier as a “historic moment,” hoping it would further strengthen their bilateral ties.
“The Prime Minister underlined that Pakistan would continue to pursue enhanced engagement with Central Asian countries, including Tajikistan, in line with its ‘Vision Central Asia’ policy,” said a statement released by the PM Office after the meeting.
It added that he stressed enhanced regional connectivity and integration, describing them as key components for sustainable long term socio-economic development of the region.
“Prime Minister Muhammad Shahbaz Sharif invited the Tajik Prime Minister to use Karachi port for transit trade,” the statement added.
He said regional connectivity could be further promoted by the construction of rail tracks and roads between the two countries.
The prime minister also suggested that Pakistan could host a regional summit to provide trade corridors to Central Asian countries and promote commerce.
Sharif welcomed the launch of direct flight operation between Pakistan and Tajikistan after a private airline based in Dushanbe took the initiative last month, emphasizing the importance of increasing the number of these flights.
PARLIAMENTARY TIES
Earlier, he emphasized continued engagement between the parliamentarians in his country with their counterparts in Tajikistan, highlighting their role in bringing the people of the two countries together in a meeting with the chairman of the lower house of Tajik parliament in Dushanbe.
“Chairman of the Majlisi Namoyandagon (Lower House) of Majlisi Oli (Tajik Parliament) of the Republic of Tajikistan Mr. Zokirzoda Mahmadtoir Zoir called on Prime Minister Muhammad Shehbaz Sharif in Dushanbe, today,” announced an official statement.

They expressed satisfaction at the inter-parliamentary cooperation between both countries and agreed to strengthen the already constituted Parliamentary Friendship Groups to further deepen bilateral ties.
“The Prime Minister emphasized that parliamentarians play a significant role in bringing the people of the two countries closer and strongly advocated for their sustained interaction and engagement,” the statement added.
Sharif also congratulated the Tajik official on the upcoming 30th anniversary of the constitution of his country.
The prime minister will conclude his two-day visit to Tajikistan before leaving for Astana, the capital of Kazakhstan, to attend the SCO summit.

KARACHI: Pakistan is looking to clinch a staff level agreement on an International Monetary Fund (IMF) bailout of more than $6 billion this month after addressing all of the lender’s requirements in its annual budget, its junior finance minister told Reuters.
The South Asian country has set challenging revenue targets in its annual budget to help it win approval from the IMF for a loan to stave off another economic meltdown, even as domestic anger rises at new taxation measures.
“We hope to culminate this (IMF) process in the next three to four weeks,” Minister of State for Finance, Revenue and Power Ali Pervaiz Malik said on Wednesday, with the aim of thrashing out a staff level agreement before the IMF board recess.
“I think it will be north of $6 billion,” he said of the size of the package, though he added at this point the IMF’s validation was primary focus.
The IMF did not respond immediately to a request for comment.
Pakistan has set a tax revenue target of 13 trillion rupees ($47 billion) for the fiscal year that began on July 1, a near-40 percent jump from the prior year, and a sharp drop in its fiscal deficit to 5.9 percent of gross domestic product from 7.4 percent the previous year.
Malik said the point of pushing out a tough and unpopular budget was to use it as stepping stone for an IMF program, adding the lender was satisfied with the revenue measures taken, based on their talks.
“There are no major issues left to address, now that all major prior actions have been met, the budget being one of them,” Malik said.
While the budget may win approval from the IMF, it could fuel public anger, according to analysts.
“Obviously they (budget reforms) are burdensome for the local economy but the IMF program is all about stabilization,” Malik said.
Sakib Sherani, an economist who heads private firm Macro Economic Insights, said a quick deal with the IMF was needed to avoid pressure on Pakistan’s foreign exchange reserves and the currency given the country’s maturing debt repayments and the effects of unwinding of capital and import controls that were applied earlier.
“If it takes longer, then the central bank may be forced to temporarily re-instate import and capital controls,” he said. “There will be a period of uncertainty, and one casualty is likely to be the rally in equities.”
Pakistan’s benchmark share index has rallied roughly 10 percent since the budget was presented on June 12, helped by continued optimism on getting an IMF bailout package to bolster the struggling economy.