IMF team visits Pakistan for $7 billion bailout program review

IMF team visits Pakistan for $7 billion bailout program review
An exterior view of the building of the International Monetary Fund (IMF), with the IMG logo, is seen on March 27, 2020 in Washington, DC. (AFP/File)
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IMF team visits Pakistan for $7 billion bailout program review

IMF team visits Pakistan for $7 billion bailout program review
  • Islamabad secured $7 billion Extended Fund Facility last summer as part of economic recovery plan
  • Local media widely reports IMF demanding action against tax evasion in Pakistan’s real estate sector

ISLAMABAD: A mission from the International Monetary Fund (IMF) arrived in Islamabad today, Monday, for the first review of a $7 billion bailout program, according to a Pakistani official and widespread reports in local media.

Islamabad secured the $7 billion Extended Fund Facility (EFF) last summer as part of an economic recovery plan. 

Pakistan’s economy had stabilized and now needed to focus on export-led growth, the finance minister said last week as he confirmed the IMF delegation’s visit from March 3-14.

Pakistan’s consumer price index (CPI) inflation rate, maintaining a downward trend on Monday, hit a more than 9-year low at 1.51 percent year-on-year in February.

A Pakistani economic adviser told Arab News, requesting anonymity, that a nine-member mission led by Nathan Porter had landed in Pakistan to assess the country’s economic performance to determine the release of a $1.1 billion tranche over the following three weeks.

Top Pakistani news channel, ARY News, reported that the IMF was demanding action against tax evasion in Pakistan’s real estate sector.

“During the talks, the IMF pushed for action against those misdeclaring property values,” ARY reported, saying the government had assured the international lender it would activate the Real Estate Regulatory Authority.

“Strict penalties, including imprisonment and fines, will be imposed on individuals and agents who falsely declare property values … As per sources, failing to register could result in a fine of up to Rs500,000,” ARY added. 

The Real Estate Regulatory Authority could be granted the power to impose up to three years of imprisonment and revoke the licenses of agents and fine them for providing false information:

“Misdeclaration in property transfers could lead to fines ranging from Rs500,000 to Rs 1 million,” ARY said. 

Pakistan’s Dawn newspaper said the government “remains optimistic about a successful conclusion to the talks.”

“The performance review, in principle, is based on the first half of the current fiscal year — July 1 to Dec 31, 2024 — and while some shortcomings could be observed at that time, all those missing links have now been covered,” Dawn reported, quoting a Pakistani official.

The IMF team usually spends around two weeks reviewing fiscal reforms and policy.

Last week, a separate IMF team visited Pakistan to discuss around $1 billion in climate financing on top of the EFF. That disbursement will take place under the IMF’s Resilience and Sustainability Trust, created in 2022 to provide long-term concessional cash for climate-related spending, such as adaptation and transitioning to cleaner energy.


Pakistan confirm AFC Asian Cup participation as FIFA lifts suspension 

Pakistan confirm AFC Asian Cup participation as FIFA lifts suspension 
Updated 4 sec ago
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Pakistan confirm AFC Asian Cup participation as FIFA lifts suspension 

Pakistan confirm AFC Asian Cup participation as FIFA lifts suspension 
  • Pakistan re-appoint former head coach Stephen Constantine for AFC Asian Cup qualifier against Syria on Mar. 25
  • Pakistan have been placed in Group E alongside Syria, Afghanistan and Myanmar in AFC Asian Cup qualifiers

ISLAMABAD: The Pakistan Football Federation (PFF) on Monday confirmed the national squad will participate in the upcoming AFC Asian Cup qualifiers, scheduled to be held later this month, hours after FIFA lifted its international suspension against the South Asian country. 

FIFA hit Pakistan on Feb. 6 with a third international suspension in less than eight years after the federation rejected its electoral reforms. Following the suspension, the PFF unanimously approved FIFA’s proposed constitutional amendments in an extraordinary meeting in Lahore last Thursday. 

The lifting of the suspension will enable Pakistan to take part in the AFC Asian Cup. The green shirts will kick off their AFC Asian Cup 2027 qualifying campaign with an away match against Syria on March 25. The match will be played in Al Ahsa, Saudi Arabia.

“Stephen Constantine, who previously served as the national team’s head coach from late 2023 until mid-2024 has been reappointed as the Head Coach for the match against Syria,” the PFF said. 

The AFC Asian Cup qualifiers will be played on a home-and-away basis, with Pakistan placed in Group E alongside Syria, Afghanistan and Myanmar.

PAKISTAN’S FIFA SUSPENSIONS

The PFF has been mired in crisis and controversy since 2015 and this was the third time since 2017 that Pakistan has been suspended.
In June 2022, FIFA lifted the PFF’s suspension, which had been imposed due to undue third-party interference a year earlier. A group of officials led by Ashfaq Hussain Shah, which was elected by the Supreme Court in 2018 to run the PFF but was not recognized by FIFA, took over the headquarters in March 20121. 
They had seized control from FIFA’s normalization committee headed by Haroon Malik. The committee had not conducted elections for the body in the 18 months since it took charge.
FIFA suspended the PFF due to the “hostile takeover” but lifted the ban after confirmation the committee had regained full control of the PFF’s premises and was in a position to manage its finances.
Pakistan was also suspended by FIFA for third party interference in 2017.


Pakistani animal charity calls for donations to care for illegally trafficked exotic monkeys

Pakistani animal charity calls for donations to care for illegally trafficked exotic monkeys
Updated 34 min 28 sec ago
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Pakistani animal charity calls for donations to care for illegally trafficked exotic monkeys

Pakistani animal charity calls for donations to care for illegally trafficked exotic monkeys
  • Karachi Customs seized dozens of capuchins, marmoset monkeys from man who had imported them illegally, ACF says
  • ACF is housing animals in small enclosure, says needs money to build larger one and cater to monkeys’ food and care needs

ISLAMABAD: Pakistan’s troubled history with animal welfare is once more in the spotlight as a prominent animal rescue organization has called for donations to help care for dozens of exotic monkeys illegally trafficked to Karachi, saying it was temporarily holding the creatures while making arrangements to house them permanently.

The Ayesha Chundrigar Foundation announced last week customs officials had called the non-profit for help to care for dozens of capuchins and marmoset monkeys they had seized at Karachi airport from a man who had “sneakily” imported them by forging documents.

Capuchin monkeys and marmosets have been known to show fear behaviors in response to the loud call from a primate species unknown to them, and ACF said the animals were traumatized after being brought to Pakistan in small “coffin-like carriers” without any access to light. The charity also said they were starving.

“We urgently need your help for the bigger enclosure while we finalize where we are going to be sending them permanently,” said ACF, which has built a small temporary enclosure for the animals. “However, quarantine is four months anyway, and they are under treatment so they need a bigger place to be rehabilitated and quarantined where they can just relax some more and run around.”

A video shared by ACF on Monday showed the monkeys enjoying a platter of fruit.

“They all have got the rabies vaccinations and some of them are not well with multiple issues. But the joy on their face when they see the fruit platter for the first time is priceless,” the charity said. 

Founded in 2013, ACF says it rescues up to 40 abused animals daily and manages a sanctuary for 1,800 animals. 

A welfare organization said last week a black bear was rescued by local authorities in Pakistan’s Punjab province and shifted to Islamabad. The seven-year-old black bear called Rocky had been kept illegally in Punjab province and abused in 35 fights, the welfare organization said.

Last December, an elephant died at a safari park less than two weeks after being reunited with her sister, the latest tragedy to affect elephants in captivity in Pakistan.

In 2020, a pair of sick and badly neglected dancing Himalayan brown bears left a notorious zoo in Islamabad for a sanctuary in Jordan.

Kaavan became known as the “world’s loneliest elephant” because he spent many years alone in a Pakistani zoo. In 2020, he was moved to a sanctuary in Cambodia. 


Inflation, online platforms push traditional Ramadan calendars to extinction in Pakistan

Inflation, online platforms push traditional Ramadan calendars to extinction in Pakistan
Updated 28 min 44 sec ago
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Inflation, online platforms push traditional Ramadan calendars to extinction in Pakistan

Inflation, online platforms push traditional Ramadan calendars to extinction in Pakistan
  • Pinned to kitchen walls or mosque bulletin boards, Ramadan calendars helped Muslims track suhoor, iftar timings
  • Graphic designers and printers in Balochistan province report 70 percent decline in orders for printing of calendars

QUETTA: Traditionally pinned on kitchen walls inside homes or on mosque and community center bulletin boards, Ramadan calendars were once a staple in Pakistan, helping believers track suhoor and iftar times with precision during the holy month.

But inflation and the advent of the digital age have led to a decline in the printing and use of calendars that once provided access to the precise schedule for observing the holy month. Indeed, the calendars not only allowed Muslims to properly practice their religious duties like prayer and fasting, but also reminded them of key spiritual events like Laylat Al-Qadr, the night in Ramadan when Muslims believe the Qur’an was revealed, and Eid Al-Fitr, the celebration that caps the holy month.

Today, online platforms have significantly transformed Ramadan around the globe, making it easier for Muslims to access religious information on the Internet, connect with communities, manage their daily practices through apps, find recipes, and engage with Islamic content.

In southwestern Pakistan, the Fatima Jinnah Road in the city of Quetta has for decades been a hotspot for the designing and printing of religious calendars. This year, it was empty ahead of Ramadan, with printing press owners complaining they were facing an up to 70 percent decline in orders. 

“This trend [of Ramadan calendars] has decreased over the past two to three years,” 32-year-old pressman Kashif Riaz told Arab News, saying he had only received three orders this season. “Inflation and the use of social media are the prime causes of fading Ramadan calendar business in Balochistan [province].”

Kashif Riaz, a 32-year-old pressman, stands next to his printing machine in Quetta, Pakistan, on February 27, 2025. (AN Photo)

The shift makes sense in a country like Pakistan, which has more than 111 million active Internet users and 71 million social media users on websites like Facebook, WhatsApp, X, TikTok, YouTube and Instagram, according to independent Internet monitor DataReportal.

“Last year, we received just one order for the designing and printing of Ramadan calendars but for this season, we haven’t received any order,” Zakir Shah, who works at the Al-Subhan designing and printing firm in Quetta, told Arab News. 

“We used to consider Ramadan an earning season, we would wait for Ramadan calendar orders, but Internet and social media have impacted our business. Some designers and pressmen at this Quetta market hardly received a few [orders] this year, but the majority are sitting idle.”

Furqan Ahmed, a 42-year-old resident of Quetta, said he didn’t see people distributing the traditional calendars ahead of Ramadan this year. 

“We used to get Ramadan calendars from business communities and volunteers of religious seminaries standing outside mosques and at various spots of Quetta city, distributing Ramadan calendars,” he said as he stood on a busy street in the provincial capital of Balochistan. 

Inam-ul-Haque, a graphic designer, is seen designing a Ramadan calendar in Quetta, Pakistan, on February 27, 2025. (AN Photo)

“This year, I haven’t seen this practice because now we can receive Ramadan calendars on our smartphones and can check the fasting schedule on the Internet.”

Inam-ul-Haque, another graphic designer, 37, who didn’t receive any orders this Ramadan, said the culture of sharing Eid greeting cards had also declined in recent years:

“We used to send Eid greetings to our family and friends by posting Eid cards, but social media has replaced that culture.”
 


Four dead, nine injured as rains lash northwestern Pakistan

Four dead, nine injured as rains lash northwestern Pakistan
Updated 17 min 22 sec ago
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Four dead, nine injured as rains lash northwestern Pakistan

Four dead, nine injured as rains lash northwestern Pakistan
  • Rain-related accidents occurred in Haripur, Battagram, Bajaur, Upper and Lower Kohistan, Dir, Hangu, Khyber and Torghar districts
  • Pakistan’s disaster management authority last week warned a strong westerly wave would trigger rains in country’s upper parts 

PESHAWAR: Intermittent rains over the past five days have killed four people and injured nine across Pakistan's northwestern Khyber Pakhtunkhwa (KP) province, a report by the provincial disaster management authority said on Monday.

Pakistan’s National Disaster Management Authority (NDMA) last week warned that a strong westerly wave would trigger rains, thunderstorms and snowfall in the upper parts of the country from Feb. 24 to Mar. 1.

“Since Feb. 26, four people have died and nine people have been injured in accidents due to rains in Khyber Pakhtunkhwa,” a report by the Provincial Disaster Management Authority (PDMA) said. 

The report said that the four dead include three men and one woman, while the injured include four children, three women and two men. It said 14 houses in total were affected due to the rains out of which 10 were partially damaged and three were completely damaged. 

“The accidents due to rains occurred in the districts of Haripur, Battagram, Bajaur, Upper and Lower Kohistan, Dir, Hangu, Khyber and Torghar,” the report said. 

The PDMA said it has directed district administrations to provide immediate relief to families affected by the rains and ensure that the best medical facilities are provided to the injured.

“PDMA has directed all district administrations and concerned institutions to utilize all resources to open the highways closed due to rain and snowfall,” the report said. 

Parts of Pakistan last month received rains after a months-long drought severely impacted crops like wheat, a staple food, as well as vital cash crops like potatoes in several regions, according to the Pakistani climate change ministry.

Torrential rains during the monsoon season of 2022 triggered flash floods across the country, with scientists attributing it to climate change impacts. The floods killed over 1,700 people and inflicted damages worth $33 billion on Pakistan, as per official estimates. 


Afghan, Pakistani forces trade fire at border as key crossing remains closed

Afghan, Pakistani forces trade fire at border as key crossing remains closed
Updated 03 March 2025
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Afghan, Pakistani forces trade fire at border as key crossing remains closed

Afghan, Pakistani forces trade fire at border as key crossing remains closed
  • Torkham border has been shut for 11 days due to Pakistan disputing Afghanistan’s construction of new border post
  • Taliban security forces opened fire unprovoked in the early hours of Monday, Pakistan returned fire, says Pakistani official

PESHAWAR: Pakistani and Afghan forces traded fire overnight at a key northwestern border crossing that has been closed for more than a week over a dispute between the two neighbors, officials said Monday.

No casualties were reported on either side of the Torkham crossing, which has been shut for 11 days due to Pakistan disputing Afghanistan’s construction of a new border post there.

Both countries have in the past closed Torkham and the southwestern Chaman border crossing, most often over deadly shootings and cross-fire. The crossings are vital for trade and travel between Pakistan and landlocked Afghanistan.

A Pakistani official, who spoke on condition of anonymity because he was not authorized to talk to the media, said that Taliban security forces opened fire unprovoked in the early hours of Monday, targeting Pakistan’s border post with automatic weapons. Pakistani personnel returned fire, the official said.

There was no immediate comment on the exchange from the Taliban government in Kabul.

Thousands of trucks and vehicles are stranded on both sides of the Torkham crossing, leaving people stuck in harsh winter conditions.