Pakistan Prime Minister Imran Khan is set to seek a vote of confidence in Parliament after the ruling Pakistan&nbsp;Tehreek-e-insaaf(PTI) lost a key&nbsp;<a href="https://www.wionews.com/south-asia/polling-for-pakistan-senates-37-seats-underway-after-weeks-of-acrimony-367695">Senate </a>seat&nbsp;in Islamabad.

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Pakistan's finance minister and PM Imran's close aide Abdul Hafeez Shaikh lost a key seat to the jointly hosted opposition candidate <a href="https://www.wionews.com/south-asia/pakistans-ex-premier-gilani-defeats-finance-minister-in-hotly-contested-senate-election-367765">Yousuf Raza Gilani</a>, a PPP candidate as the PTI party suffered setbacks. The Pakistan PM had personally campaigned for his cabinet colleague.

"Yusuf Raza Gilani got 169 votes while Shaikh got 164 votes. Seven votes were rejected. A total number of polled votes was 340," the Election Commission of Pakistan (ECP) announced.

Gilani was supported by the Pakistan Democratic Movement (PDM), an alliance of eleven opposition parties, including the Pakistan Muslim League (Nawaz) and the Pakistan Peoples' Party(PPP).

The Pakistan prime minister's PTI party had made serious voter fraud, bribery and corruption allegations amid the losses.&nbsp;&nbsp;

Addressing the media, PPP chairman Bilawal Bhutto-Zardari asked Prime Minister Khan to step down even as several other opposition leaders heavily criticised PM Imran Khan after Gilani's win&nbsp;calling for him to resign as the prime minister.

"Imran Khan should resign, this is not only the Opposition's demand but of the government's own members," Bilawal said, adding that a new era was starting in Pakistan's democratic journey.

Pakistan Prime Minister Imran Khan is set to seek a vote of confidence in Parliament after the ruling Pakistan Tehreek-e-insaaf(PTI) lost a key Senate seat in Islamabad.

Pakistan Prime Minister Imran Khan is set to seek a vote of confidence in Parliament after the ruling Pakistan Tehreek-e-insaaf(PTI) lost a key Senate seat in Islamabad. Watch: Pakistan's finance minister and PM Imran's close aide Abdul Hafeez Shaikh lost a key seat to the jointly hosted opposition candidate Yousuf Raza Gilani, a PPP candidate as the PTI party suffered setbacks. The Pakistan PM had personally campaigned for his cabinet colleague. "Yusuf Raza Gilani got 169 votes while Shaikh got 164 votes. Seven votes were rejected. A total number of polled votes was 340," the Election Commission of Pakistan (ECP) announced. Gilani was supported by the Pakistan Democratic Movement (PDM), an alliance of eleven opposition parties, including the Pakistan Muslim League (Nawaz) and the Pakistan Peoples' Party(PPP). The Pakistan prime minister's PTI party had made serious voter fraud, bribery and corruption allegations amid the losses. Addressing the media, PPP chairman Bilawal Bhutto-Zardari asked Prime Minister Khan to step down even as several other opposition leaders heavily criticised PM Imran Khan after Gilani's win calling for him to resign as the prime minister. "Imran Khan should resign, this is not only the Opposition's demand but of the government's own members," Bilawal said, adding that a new era was starting in Pakistan's democratic journey.

Pakistan PM Imran Khan to seek vote of confidence after Senate election defeat

Cash-strapped Pakistan will start getting the much-anticipated Saudi Arabian oil on deferred payments from July, <a href="https://www.wionews.com/south-asia/pakistan-pm-khan-chairs-national-security-committee-meeting-220673">Prime Minister Imran Khan's</a> Advisor on Finance has said.

Last year, Saudi Arabia agreed to provide a bailout package of $6 billion to help resuscitate Pakistan's worsening economy.&nbsp;

In October last year, the Kingdom had also agreed to establish a credit line worth $3 billion for the sale of petroleum products on credit for three years to Islamabad and to give $3 billion in Pakistan's foreign currency reserves for a year.

In a tweet, late Wednesday, Prime Minister's Advisor on Finance Abdul Hafeez Shaikh said Saudi Arabia will supply oil worth $3.2 billion per year on deferred payments for three years.&nbsp;

"The Kingdom will supply $275 million oil to Pakistan on monthly basis from July," Shaikh was quoted as saying by Radio Pakistan.&nbsp;

He said that the facility will "strengthen Pakistan's balance of payments position", and thanked Saudi Crown Prince Mohammed bin Salman for "his continuous support for the people of Pakistan".

Reacting to Riyadh's move, Minister for Planning, Development and Reforms Khusro Bakhtiar welcome the news, saying the facility the deferred payment facility "will reduce the pressure (created by the) outflow of foreign exchange".&nbsp;

Facing financial woes, Pakistan is seeking $8 billion from the IMF to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country's economy.

Pakistan has so far received a total of $9.1 billion in financial aid packages from friendly countries like China, Saudi Arabia and the UAE during the current fiscal year.

Cash-strapped Pakistan will start getting the much-anticipated Saudi Arabian oil on deferred payments from July, Prime Minister Imran Khan's Advisor on Finance has said.

Cash-strapped Pakistan will start getting the much-anticipated Saudi Arabian oil on deferred payments from July, Prime Minister Imran Khan's Advisor on Finance has said. Last year, Saudi Arabia agreed to provide a bailout package of $6 billion to help resuscitate Pakistan's worsening economy. In October last year, the Kingdom had also agreed to establish a credit line worth $3 billion for the sale of petroleum products on credit for three years to Islamabad and to give $3 billion in Pakistan's foreign currency reserves for a year. In a tweet, late Wednesday, Prime Minister's Advisor on Finance Abdul Hafeez Shaikh said Saudi Arabia will supply oil worth $3.2 billion per year on deferred payments for three years. "The Kingdom will supply $275 million oil to Pakistan on monthly basis from July," Shaikh was quoted as saying by Radio Pakistan. He said that the facility will "strengthen Pakistan's balance of payments position", and thanked Saudi Crown Prince Mohammed bin Salman for "his continuous support for the people of Pakistan". Reacting to Riyadh's move, Minister for Planning, Development and Reforms Khusro Bakhtiar welcome the news, saying the facility the deferred payment facility "will reduce the pressure (created by the) outflow of foreign exchange". Facing financial woes, Pakistan is seeking $8 billion from the IMF to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country's economy. Pakistan has so far received a total of $9.1 billion in financial aid packages from friendly countries like China, Saudi Arabia and the UAE during the current fiscal year.

Pakistan to get Saudi oil for 3 years on deferred payments from July

Pakistan's newly appointed advisor to the prime minister on finance, Abdul Hafeez Shaikh said on Saturday that talks with the <a href="https://www.wionews.com/south-asia/imf-team-to-visit-pakistan-this-month-to-discuss-support-package-210650">International Monetary Fund (IMF) to finalise a bailout package</a> would be held soon.&nbsp;

Shaikh was appointed as an advisor on Friday following the abrupt resignation of finance minister Asad Umar after returning from the US where he held talks with IMF for a crucial multi-billion dollar bailout package for cash-strapped Pakistan.

Islamabad is seeking $8 billion from the IMF to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country's economy.

Pakistan has so far received a total of $9.1 billion in financial aid packages from friendly countries like China, Saudi Arabia and the UAE during the current fiscal year.

Shaikh, who took charge of the Ministry on Saturday, said in a brief talk that he would take forward the talks with the IMF.&nbsp;

"Both parties want to progress on the matter, and they have a commitment to us. I will be contacting the IMF mission head today evening," he said.

Shaikh also said that after holding initial talks with top officials of his ministry he realised that the next budget can be presented no earlier than May 24.

He also said that he has already tasked the officials to prepare a medium-term strategy paper to move the country forward.

Shaikh was also expected to meet Prime Minister Imran Khan to discuss the economic situation and work out a plan to rebuild the shattered economy.

His immediate task is to negotiate and favourable assistance package with the IMF and control inflation which cost his predecessor his job.

Pakistan's newly appointed advisor to the prime minister on finance, Abdul Hafeez Shaikh said on Saturday that talks with the International Monetary Fund (IMF) to finalise a bailout package would be held soon.

Pakistan's newly appointed advisor to the prime minister on finance, Abdul Hafeez Shaikh said on Saturday that talks with the International Monetary Fund (IMF) to finalise a bailout package would be held soon. Shaikh was appointed as an advisor on Friday following the abrupt resignation of finance minister Asad Umar after returning from the US where he held talks with IMF for a crucial multi-billion dollar bailout package for cash-strapped Pakistan. Islamabad is seeking $8 billion from the IMF to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country's economy. Pakistan has so far received a total of $9.1 billion in financial aid packages from friendly countries like China, Saudi Arabia and the UAE during the current fiscal year. Shaikh, who took charge of the Ministry on Saturday, said in a brief talk that he would take forward the talks with the IMF. "Both parties want to progress on the matter, and they have a commitment to us. I will be contacting the IMF mission head today evening," he said. Shaikh also said that after holding initial talks with top officials of his ministry he realised that the next budget can be presented no earlier than May 24. He also said that he has already tasked the officials to prepare a medium-term strategy paper to move the country forward. Shaikh was also expected to meet Prime Minister Imran Khan to discuss the economic situation and work out a plan to rebuild the shattered economy. His immediate task is to negotiate and favourable assistance package with the IMF and control inflation which cost his predecessor his job.

Talks with IMF for bailout package to start soon: Pakistan's advisor to PM Imran Khan

Pakistani Prime Minister Imran Khan said on Friday that he would not hesitate to <a href="https://www.wionews.com/south-asia/pakistan-in-major-cabinet-reshuffle-portfolios-of-several-ministers-changed-211652">make more changes to his cabinet</a> if required a day after a major reshuffle that saw the appointment of a new finance minister and nine other ministerial switches.

The cabinet shakeup, which comes eight months after Khan took office, included the replacement of Finance Minister Asad Umar, who has been a close ally to Khan for many years, with Abdul Hafeez Shaikh in a renamed role to steer the country out of worsening economic turmoil.

Pakistan is on the brink of signing up for its 13th International Monetary Fund (IMF) bailout since the late 1980s in a bid to stave off a balance of payments crisis and ease ballooning current account and fiscal deficits.

"I want to tell all my ministers that whoever is not useful for my country, I will change them and bring that minister who is useful for my country," Khan said during a speech in the northern region of Orakzai.

Shaikh, who served as finance minister from 2010-2013 under the opposition Pakistan People's Party when it was in power, has been appointed as "Adviser on Finance" but will be heading the finance ministry once again.

In Pakistan' it is common for financial experts to be given the title of "adviser", rather than federal minister, to head the finance ministry when they are not a sitting member of parliament.

Umar has been leading negotiations with the IMF but faced criticism over a worsening economic outlook on his watch, with inflation at a five-year high and the rupee currency down about 35 per cent since December 2017.

The central bank last month cut growth estimates, forecasting the economy to expand 3.5 to 4 per cent in the 12 months to the end of June, well short of a government target of 6.2 per cent. The IMF paints a gloomier picture, predicting growth of 2.9 per cent in 2019 and 2.8 per cent next year.

In a speech laden with cricket metaphors, Khan, who led Pakistan's cricket team to World Cup triumph in 1992, said such changes were part of good leadership.

"The captain has one objective and that is to get the team to win. The prime minister also has one objective and I have only one objective, to help my people win, to help them rise," he said.

"For this, I have the changed the batting order in my team and I will do this again in the future."

Pakistani Prime Minister Imran Khan said on Friday that he would not hesitate to make more changes to his cabinet if required a day after a major reshuffle that saw the appointment of a new finance minister and nine other ministerial switches.

Pakistani Prime Minister Imran Khan said on Friday that he would not hesitate to make more changes to his cabinet if required a day after a major reshuffle that saw the appointment of a new finance minister and nine other ministerial switches. The cabinet shakeup, which comes eight months after Khan took office, included the replacement of Finance Minister Asad Umar, who has been a close ally to Khan for many years, with Abdul Hafeez Shaikh in a renamed role to steer the country out of worsening economic turmoil. Pakistan is on the brink of signing up for its 13th International Monetary Fund (IMF) bailout since the late 1980s in a bid to stave off a balance of payments crisis and ease ballooning current account and fiscal deficits. "I want to tell all my ministers that whoever is not useful for my country, I will change them and bring that minister who is useful for my country," Khan said during a speech in the northern region of Orakzai. Shaikh, who served as finance minister from 2010-2013 under the opposition Pakistan People's Party when it was in power, has been appointed as "Adviser on Finance" but will be heading the finance ministry once again. In Pakistan' it is common for financial experts to be given the title of "adviser", rather than federal minister, to head the finance ministry when they are not a sitting member of parliament. Umar has been leading negotiations with the IMF but faced criticism over a worsening economic outlook on his watch, with inflation at a five-year high and the rupee currency down about 35 per cent since December 2017. The central bank last month cut growth estimates, forecasting the economy to expand 3.5 to 4 per cent in the 12 months to the end of June, well short of a government target of 6.2 per cent. The IMF paints a gloomier picture, predicting growth of 2.9 per cent in 2019 and 2.8 per cent next year. In a speech laden with cricket metaphors, Khan, who led Pakistan's cricket team to World Cup triumph in 1992, said such changes were part of good leadership. "The captain has one objective and that is to get the team to win. The prime minister also has one objective and I have only one objective, to help my people win, to help them rise," he said. "For this, I have the changed the batting order in my team and I will do this again in the future."

Pakistan PM Imran Khan hints at further cabinet changes after 'batting order' shuffle