ISLAMABAD: International Monetary Fund’s (IMF) Pakistan Mission Chief Nathan Porter will travel to the South Asian country from Nov. 11-15 to discuss Islamabad’s performance regarding the $7 billion bailout program approved in September, an official with direct knowledge of the development said on Wednesday.
In July, the IMF reached a staff-level agreement on economic policies with Pakistan for a 37-month Extended Fund Facility (EFF) of about $7 billion. In September, the Fund’s executive board approved the 25th loan program that Pakistan has obtained since 1958.
Islamabad was able to secure the loan, critical to keeping its $350 billion fragile economy afloat, after taking painful measures such as hiking fuel and food prices, and implementing reforms to broaden the country’s tax base and privatize state-owned entities.
“IMF staff, led by Mr. Nathan Porter, will travel to Pakistan between November 11-15 for a staff visit to discuss recent developments and program performance to date,” the official said.
“This mission is not part of the first review under the EFF, which will be no earlier than the first quarter of 2025.”
Since it secured the bailout package, Pakistan’s government has said it has been able to increase its foreign exchange reserves and moved toward economic stability.
The country’s stock market has also seen a bullish trend in recent weeks that the government and analysts have attributed to Pakistan’s improving macroeconomic conditions, among other factors.
Inflation in the South Asian country has dropped from a record 38% in May 2023 to 7.2% in October 2024, which the government says dropped due to its prudent fiscal policies.
IMF mission chief to visit Pakistan next week to discuss $7 billion loan ‘performance’
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IMF mission chief to visit Pakistan next week to discuss $7 billion loan ‘performance’
- Nathan Porter to visit Pakistan from Nov. 11-15, says official with knowledge of development
- International lender approved 37-month, $7 billion loan program for Pakistan in September
Pakistani teen captivates social media with intricate leaf art
- Kamran Khan, 19, specializes in making intricate designs, patterns and portraits on dried leaves
- Artist says social media has played “huge role” in expanding his outreach, he also takes orders online
PESHAWAR: A young Pakistani artist based in the northwestern Khyber Pakhtunkhwa province has captivated social media with his unusual canvas: plant leaves.
From a small corner in Peshawar city’s bustling Storytellers’ Market, popularly known as Qissa Khwani Bazaar, Kamran Khan carves intricate portraits on delicate leaves, blending tradition with artistry and earning a growing online fan base.
Originally from Bajaur in Pakistan’s tribal belt, the 19-year-old artist moved to Peshawar for his education and livelihood and is now a third-semester political science student at the city’s historic Islamia College. While he has to balance his studies and a small family business he helps run, he also finds moments in between to pursue his passion.
“I have been doing art and drawing since childhood, but then I thought of taking it in a new direction to make it more unique,” he told Arab News in an interview this week. “I started practicing leaf art. I watched a video from where I decided to adopt the idea since it felt different.”
Khan specializes in leaf carving, carefully etching designs and images into the surface of leaves, often using blades to create detailed scenes and portraits. The process requires a firm hand, patience and precision to avoid damaging the delicate structure of the leaf. He also uses a special kind of leaf that is dried for two days before it is ready to be used.
The artist has made hundreds of portraits and designs, including images of politicians, artists, tribal elders, celebrities and world leaders.
Carving the logo of Arab News, he said, “I have sketched many leaders. I made the sketch of [Saudi Crown Prince] Mohammed bin Salman and uploaded its video on TikTok.”
Social media had played a “huge role” in expanding his outreach, Khan said.
“I take orders [to create art] using social media platforms, from TikTok, Instagram and Facebook,” he said. “International orders also come in, often requesting videos only. Orders are also placed for leaf art in physical frames, and we can adjust to both.”
Khan’s dedication was rewarded when a piece featuring Maryam Nawaz Sharif, a Pakistani politician who became the chief minister of Punjab after the last general elections, caught her attention.
“I made a video of Maryam Nawaz’s sketch, and then she picked up my [work] from the social media platform and invited me over,” he added. “When we reached the CM House in Lahore to meet her, she appreciated [my work] and gave me a cash prize.”
Sharing his future plans, he said that he wanted to represent Pakistan on the world stage.
“I strive to promote our province and culture through this art,” he said, “and would love to represent my country Pakistan as well.”
Record-high pollution sickens thousands in Pakistan’s cultural capital of Lahore
- Authorities warn a complete lockdown could be imminent if smog-related guidelines are ignored
- Lahore remained world’s most polluted city Wednesday morning as air quality index rose to over 1,100
LAHORE: Record-high air pollution in Pakistan’s cultural capital of Lahore is sending more people to hospitals and private clinics, doctors said Wednesday as authorities warned a complete lockdown could be imminent if residents fail to don face masks and follow other guidance related to smog.
The warning came after residents out on the streets in Lahore, which has a population of 14 million, were seen overwhelmingly without masks. Doctors say most people are complaining of either having a cough or that they feel their eyes are burning.
“Tens of thousands of patients suffering from respiratory diseases were treated at hospitals and clinics in a week,” said Salman Kazmi, vice president of the Pakistan Medical Association.
You can see people coughing whenever you go, but they still hardly wear face masks, he said.
Lahore remained the world’s most polluted city Wednesday morning, with air quality index hitting a record high of over 1,100. Anything over 300 is considered hazardous to health.
A toxic smog has shrouded the city since last month.
Marriyum Aurangzeb, a senior minister in the Punjab province asked people to wear face masks to avoid a complete lockdown in the city. Lahore is the provincial capital.
Authorities in the city have already banned barbecuing food without filters, as well as the use of motorized rickshaws — and wedding halls must close by 10 p.m.
The government said it was also looking into methods to induce artificial rainfall to combat the pollution.
UAE diplomat urges greater food security collaboration with Pakistan at Karachi summit
- UAE Consul General in Karachi emphasizes his country’s commitment to supporting Pakistan
- Finance Minister Muhammad Aurangzeb says current Pakistani policies are leading to stability
KARACHI: A top United Arab Emirates diplomat said on Wednesday his country was actively investing in Pakistan, as he highlighted the possibility of greater bilateral collaboration in food security while addressing a major economic conference.
UAE Consul General Bakheet Ateeq Al-Rumaithi was speaking at the Future Summit, a two-day event taking place in Karachi that aims to foster business ties and economic partnerships and has drawn participation from local and international leaders.
Pakistan has been working to enhance trade and investment to address a prolonged economic crisis that has compelled its governments to seek external financing from friendly nations and global lending organizations.
Among the various economic sectors the government plans to strengthen is agriculture, which has faced reduced yields, particularly amid erratic weather patterns attributed to climate change.
“The UAE is making significant investments in Pakistan,” Al-Rumaithi told the participants of the Future Summit. “There are opportunities for collaboration between the two countries in food security sectors.”
The UAE diplomat highlighted his country’s commitment to supporting Pakistan, noting that both nations share longstanding brotherly ties.
He underscored that Pakistani nationals, particularly in the health care sector, play a vital role in the UAE’s workforce.
Federal Minister for Finance and Revenue Muhammad Aurangzeb, also present at the conference, said the government’s policies were steering Pakistan toward economic stability.
During his address, he noted improvements in key economic indicators, citing “a decrease in the current account deficit, an increase in remittances, the stabilization of the rupee and a reduction in the policy rate,” according to state-owned Radio Pakistan.
The minister stressed the need for institutional reforms to enhance transparency, address gaps in areas like tax collection and leverage technological advancements to improve governance.
PM Sharif visits Gilgit-Baltistan, inaugurates housing for 2022 flood-hit families
- The new homes have been built in northern Pakistan’s Ghizer district
- The 2022 floods killed over 1,700, destroyed houses across Pakistan
ISLAMABAD: Prime Minister Shehbaz Sharif inaugurated a model village for flood-affected families in Pakistan’s northern Gilgit-Baltistan (GB) region during a day-long visit to Ghizer on Wednesday, pledging to provide residents with ownership documents to help them acquire new houses.
Pakistan is among the world’s most vulnerable countries to the effects of climate change. It faced devastating floods triggered by unprecedented monsoon rains in 2022, which killed over 1,700 people, destroyed farms, homes and public infrastructure, and resulted in financial losses exceeding $35 billion.
Many residents in GB also lost their homes, primarily due to glacial lake outburst floods, which also swept away some key river bridges in the region.
“Today, I have come here after two years,” the prime minister told the inauguration gathering in a speech that was televised. “When I came here in August 2022, it was terrible and almost all the homes were destroyed by rains and floods. Many people’s houses had been razed to the ground.”
“That was an unfortunate day in history,” he added. “A new society has been established today for the flood affected people. They will be given their ownership documents. I have already given these documents to five or six families.”
Scientists blame Pakistan’s erratic weather patterns on climate change.
This year, the South Asian country recorded its “wettest April since 1961,” with 59.3 millimeters of rainfall, while some areas of the country faced deadly heatwaves in May and June.
Sharif is also scheduled to inaugurate several development projects, including Naltar Expressway, Greater Water Supply in Hunza and the 54MW Hydropower plant in Attabad, according to a statement released by his office.
Pakistani PM congratulates Donald Trump, elected US president in stunning comeback
- Trump’s election expected to usher in new American leadership likely to test democratic institutions at home and relations abroad
- Ties between Islamabad and Washington, once close allies, have just started to warm after many years of frosty relations
ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif on Wednesday congratulated Republican Donald Trump as he was elected president, capping a remarkable comeback four years after he was voted out of the White House.
Trump, 78, recaptured the White House on Wednesday by securing more than the 270 Electoral College votes needed to win the presidency, Edison Research projected. His election is expected to usher in a new American leadership likely to test democratic institutions at home and relations abroad.
Trump’s victory was confirmed just after 5:30am Eastern time when he captured the battleground state of Wisconsin, putting him above the threshold of 270 electoral votes. Vice President Kamala Harris’s defeat marks the second time in eight years that a woman became the Democratic Party’s presidential nominee only to fall short of a barrier-breaking victory.
“Congratulations to President-elect Donald Trump on his historic victory for a second term,” Sharif said on X. “I look forward to working closely with the incoming Administration to further strengthen and broaden the Pakistan-US partnership.”
Bilawal Bhutto Zardari, chairman of the Pakistan Peoples Party, a coalition partner in the Sharif administration, also congratulated Trump and his team.
“This is an anti-war victory. An anti war mandate. We hope the new administration will prioritize peace and help end the cycle of perpetual global conflict.”
Ties between Islamabad and Washington, once close allies, have just started to warm after many years of frosty relations, mostly due to concerns about Pakistan’s alleged support of the Taliban in Afghanistan. Pakistan denies this support.
Relations strained further under the government of former prime minister Imran Khan, who ruled from 2018-22 and antagonized Washington throughout his tenure, welcoming the Taliban takeover of Afghanistan in 2021 and later accusing Washington of being behind attempts to oust him. Washington has dismissed the accusations.
The government of PM Sharif that took over after Khan and is now in its second term has tried to mend ties but analysts widely believe the United States will not seek a significant broadening of ties with Islamabad in the near future but remain mostly focused on security cooperation, especially on counterterrorism and Afghanistan.
