Pakistan’s foreign ministry announced Friday that Prime Minister Imran Khan will attend a Saudi Arabian investment conference, despite a string of cancellations from leading policy-makers and corporate chiefs over the disappearance of journalist Jamal Khashoggi.

The decision comes a day after US Treasury Secretary Steven Mnuchin and senior ministers from Europe announced plans to skip the conference.&nbsp;

The move by the White House intensified the kingdom's mounting isolation amid an uproar over the mysterious disappearance of Khashoggi after he entered a Saudi consulate in Istanbul earlier this month.

Khan's visit comes as Pakistan continues to court “friendly” nations in search of billions of dollars to shore up its deteriorating finances as it faces a balance of payment crisis and upcoming talks with the International Monetary Fund (IMF) over a potential bailout.

Khan’s participation in the conference "signifies our solidarity with the kingdom in its efforts to become an emerging hub of international business and investment,” the foreign ministry said in the statement.

“The conference provides an opportunity to interact with important business leaders who are interested in investing in Pakistan."

The conference is being touted as a high-powered showcase for the economic reforms of Crown Prince Mohammed bin Salman -- who has been widely accused of having links to Khashoggi’s disappearance.

Pakistan briefly weighed in on the incident earlier this month, calling on Turkey and Saudi Arabia "to jointly address the matter".&nbsp;

Khan made his maiden foreign visit as premier to Saudi Arabia in September as Islamabad explored alternative avenues to financing before approaching the IMF.

Since taking power in August Khan has sought loans from allies such as China and Saudi Arabia, promised to recover funds stolen by corrupt officials, and embarked on a series of high-profile populist austerity measures.

But help has been in short supply and economists' warnings have grown increasingly urgent.

The visit also comes as Pakistan’s central bank warned this week that inflation would likely double in the coming year -- hitting 7.5 per cent -- while the country’s growth target rate of 6.2 per cent would likely be missed.

Pakistan’s foreign ministry announced Friday that Prime Minister Imran Khan will attend a Saudi Arabian investment conference, despite a string of cancellations from leading policy-makers and corporate chiefs over the disappearance of journalist Jamal Khashoggi.

Pakistan’s foreign ministry announced Friday that Prime Minister Imran Khan will attend a Saudi Arabian investment conference, despite a string of cancellations from leading policy-makers and corporate chiefs over the disappearance of journalist Jamal Khashoggi. The decision comes a day after US Treasury Secretary Steven Mnuchin and senior ministers from Europe announced plans to skip the conference. The move by the White House intensified the kingdom's mounting isolation amid an uproar over the mysterious disappearance of Khashoggi after he entered a Saudi consulate in Istanbul earlier this month. Khan's visit comes as Pakistan continues to court “friendly” nations in search of billions of dollars to shore up its deteriorating finances as it faces a balance of payment crisis and upcoming talks with the International Monetary Fund (IMF) over a potential bailout. Khan’s participation in the conference "signifies our solidarity with the kingdom in its efforts to become an emerging hub of international business and investment,” the foreign ministry said in the statement. “The conference provides an opportunity to interact with important business leaders who are interested in investing in Pakistan." The conference is being touted as a high-powered showcase for the economic reforms of Crown Prince Mohammed bin Salman -- who has been widely accused of having links to Khashoggi’s disappearance. Pakistan briefly weighed in on the incident earlier this month, calling on Turkey and Saudi Arabia "to jointly address the matter". Khan made his maiden foreign visit as premier to Saudi Arabia in September as Islamabad explored alternative avenues to financing before approaching the IMF. Since taking power in August Khan has sought loans from allies such as China and Saudi Arabia, promised to recover funds stolen by corrupt officials, and embarked on a series of high-profile populist austerity measures. But help has been in short supply and economists' warnings have grown increasingly urgent. The visit also comes as Pakistan’s central bank warned this week that inflation would likely double in the coming year -- hitting 7.5 per cent -- while the country’s growth target rate of 6.2 per cent would likely be missed.

Imran Khan to attend Saudi conference after Khashoggi's disappearance

Prime Minister Imran Khan will visit Saudi Arabia on October 23, his second to the cash-rich kingdom in just over a month, a media report said Thursday as Pakistan tried to keep its economy afloat.

Quoted unnamed sources, Geo News reported that Khan will visit Saudi Arabia for a day before his maiden visit to China from November 3.&nbsp;

He is expected to hold talks on economic cooperation with Saudi officials during his visit, it said.

Khan, who assumed office in August, last toured Saudi Arabia on September 18 and met King Salman bin Abdulaziz Al Saud.

After that, he visited the United Arab Emirates for talks with Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi.

The report also said that a top-level delegation from the United Arab Emirates will visit Pakistan soon to discuss expanding economic cooperation.&nbsp;

The news about the possibility of Prime Minister Khan visiting Saudi Arabia for a second time came after he told senior editors on Wednesday that Pakistan may not have to approach the IMF for loans as it has received "positive" responses from some "friendly countries".&nbsp;

Khan said his government was in touch with some "friendly countries" and has sought cooperation to address the mounting balance of payments deficit and dwindling foreign currency reserves.

Though he did not name any countries, Pakistani media has reported that the government was consulting allies like China and Saudi Arabia for financial help.

"Their response is positive. I am quite hopeful that we will not have to approach the International Monetary Fund for our economic needs," he was quoted as saying by The News.

Islamabad formally approached the IMF last week for a bailout to tide over the economic crisis.

But some tough talking by IMF Managing Director Christine Lagarde and the US on Pakistan's bailout plan, demanding absolute transparency on the country's debts, including those owned by China under the China-Pakistan Economic Corridor (CPEC) projects, has upset Islamabad.

Pakistan Finance Minister Asad Umar has said the government don't want to fully rely on the IMF and would do anything to bring improvement in the economy.&nbsp;

He said the loan programme with the IMF is almost final, but the government will have to see that the IMF does not place any "undoable conditions" for Pakistan in return.&nbsp;

Prime Minister Imran Khan will visit Saudi Arabia on October 23, his second to the cash-rich kingdom in just over a month, a media report said Thursday as Pakistan tried to keep its economy afloat.

Prime Minister Imran Khan will visit Saudi Arabia on October 23, his second to the cash-rich kingdom in just over a month, a media report said Thursday as Pakistan tried to keep its economy afloat. Quoted unnamed sources, Geo News reported that Khan will visit Saudi Arabia for a day before his maiden visit to China from November 3. He is expected to hold talks on economic cooperation with Saudi officials during his visit, it said. Khan, who assumed office in August, last toured Saudi Arabia on September 18 and met King Salman bin Abdulaziz Al Saud. After that, he visited the United Arab Emirates for talks with Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi. The report also said that a top-level delegation from the United Arab Emirates will visit Pakistan soon to discuss expanding economic cooperation. The news about the possibility of Prime Minister Khan visiting Saudi Arabia for a second time came after he told senior editors on Wednesday that Pakistan may not have to approach the IMF for loans as it has received "positive" responses from some "friendly countries". Khan said his government was in touch with some "friendly countries" and has sought cooperation to address the mounting balance of payments deficit and dwindling foreign currency reserves. Though he did not name any countries, Pakistani media has reported that the government was consulting allies like China and Saudi Arabia for financial help. "Their response is positive. I am quite hopeful that we will not have to approach the International Monetary Fund for our economic needs," he was quoted as saying by The News. Islamabad formally approached the IMF last week for a bailout to tide over the economic crisis. But some tough talking by IMF Managing Director Christine Lagarde and the US on Pakistan's bailout plan, demanding absolute transparency on the country's debts, including those owned by China under the China-Pakistan Economic Corridor (CPEC) projects, has upset Islamabad. Pakistan Finance Minister Asad Umar has said the government don't want to fully rely on the IMF and would do anything to bring improvement in the economy. He said the loan programme with the IMF is almost final, but the government will have to see that the IMF does not place any "undoable conditions" for Pakistan in return.

Pakistan PM Imran Khan to visit Saudi for second time: Report

A top Republican lawmaker has urged the Trump administration to immediately designate Pakistan as a state sponsor of terrorism and terminate its non-NATO ally status, asserting that Islamabad consistently defends Mumbai terror attack mastermind Hafiz Saeed and condemns US' counterterrorism efforts.

Congressman Ted Poe said in the House of Representatives that Pakistan will not receive any financial support from the US if terrorists continue to live safely in the country.

"Now is the day of reckoning. All assistance to Pakistan must end, its Major non-NATO ally status must be terminated, and the State Department should immediately designate it as a state sponsor of terrorism," Poe said last week, according to Congressional records.

In his remarks, the Republican Congressman from Texas slammed Pakistan's Foreign Minister Makhdoom Shah Mahmood Qureshi for what he described as lecturing the US on aid.

"While I do not oppose open engagement with Pakistan, our position must be clear: Pakistan will not receive a dime of US support if terrorists continue to live safely on their soil," he said.

"For too long the opposite has been the case. Fortunately, President Donald Trump has disrupted the status quo and suspended most of the funding we give to Pakistan, specifically calling them out for their support to terrorism. But more should be done," he said.

Poe said if Qureshi was truly interested in restoring the relationship between the two countries, he would accept responsibility and acknowledge that countless terrorists still live inside Pakistan.

"His country has been the epicenter for extremism for decades, where extremists are still able to hold massive public rallies to incite young men to violence. This isn't conjecture, the evidence is well documented," he asserted.

Poe said Mumbai terror attack mastermind and the founder of the US and UN-designated terrorist group Lashkar-e-Taiba Hafiz Saeed operated freely in Pakistan.

Despite his role in the 2008 Mumbai attack, Saeed leads public rallies and can raise money for extremists causes, he said.

"Yet, Pakistan, including its Ministry of Foreign Affairs, consistently defends Saeed and condemns US counterterrorism efforts," Poe said.

He said Qureshi even claimed terrorist groups that target Pakistan had safe haven in Afghanistan under the US' watch.

"Yet it is Pakistani officials who somehow claim there is a 'good' Taliban, while the US makes no distinction," he said.

"If the Foreign Minister wanted to earn our trust, his government could demonstrate good faith by taking action. This includes handing over Saeed, the leaders of the

Taliban and Haqqani Network, and banning all extremist groups on its soil. But this is a fantasy," Poe said.

The relations between Pakistan and the US nosedived this January after President Trump accused Islamabad of giving nothing to Washington but "lies and deceit" and providing "safe haven" to terrorists.

The US Congress also passed a bill to slash Pakistan's defence aid to $ 150 million, significantly below the historic level of more than $ one billion per year.

The Trump administration had announced early this year that it was suspending security assistance to Pakistan over differences on Afghanistan.&nbsp; 
&nbsp;

A top Republican lawmaker has urged the Trump administration to immediately designate Pakistan as a state sponsor of terrorism and terminate its non-NATO ally status, asserting that Islamabad consistently defends Mumbai terror attack mastermind Hafiz Saeed and condemns US' counterterrorism efforts.

A top Republican lawmaker has urged the Trump administration to immediately designate Pakistan as a state sponsor of terrorism and terminate its non-NATO ally status, asserting that Islamabad consistently defends Mumbai terror attack mastermind Hafiz Saeed and condemns US' counterterrorism efforts. Congressman Ted Poe said in the House of Representatives that Pakistan will not receive any financial support from the US if terrorists continue to live safely in the country. "Now is the day of reckoning. All assistance to Pakistan must end, its Major non-NATO ally status must be terminated, and the State Department should immediately designate it as a state sponsor of terrorism," Poe said last week, according to Congressional records. In his remarks, the Republican Congressman from Texas slammed Pakistan's Foreign Minister Makhdoom Shah Mahmood Qureshi for what he described as lecturing the US on aid. "While I do not oppose open engagement with Pakistan, our position must be clear: Pakistan will not receive a dime of US support if terrorists continue to live safely on their soil," he said. "For too long the opposite has been the case. Fortunately, President Donald Trump has disrupted the status quo and suspended most of the funding we give to Pakistan, specifically calling them out for their support to terrorism. But more should be done," he said. Poe said if Qureshi was truly interested in restoring the relationship between the two countries, he would accept responsibility and acknowledge that countless terrorists still live inside Pakistan. "His country has been the epicenter for extremism for decades, where extremists are still able to hold massive public rallies to incite young men to violence. This isn't conjecture, the evidence is well documented," he asserted. Poe said Mumbai terror attack mastermind and the founder of the US and UN-designated terrorist group Lashkar-e-Taiba Hafiz Saeed operated freely in Pakistan. Despite his role in the 2008 Mumbai attack, Saeed leads public rallies and can raise money for extremists causes, he said. "Yet, Pakistan, including its Ministry of Foreign Affairs, consistently defends Saeed and condemns US counterterrorism efforts," Poe said. He said Qureshi even claimed terrorist groups that target Pakistan had safe haven in Afghanistan under the US' watch. "Yet it is Pakistani officials who somehow claim there is a 'good' Taliban, while the US makes no distinction," he said. "If the Foreign Minister wanted to earn our trust, his government could demonstrate good faith by taking action. This includes handing over Saeed, the leaders of the Taliban and Haqqani Network, and banning all extremist groups on its soil. But this is a fantasy," Poe said. The relations between Pakistan and the US nosedived this January after President Trump accused Islamabad of giving nothing to Washington but "lies and deceit" and providing "safe haven" to terrorists. The US Congress also passed a bill to slash Pakistan's defence aid to $ 150 million, significantly below the historic level of more than $ one billion per year. The Trump administration had announced early this year that it was suspending security assistance to Pakistan over differences on Afghanistan.

US Congressman seeks immediate designation of Pakistan as state sponsor of terrorism

Imran Khan Government's 2nd Phase of Austerity Drive

Pakistan's deposed premier Nawaz Sharif's PML-N recovered some ground in the by-elections by eating up the votes of prime minister Imran Khan's PTI, winning four out of 11 parliamentary seats which went to the polls, according to the results on Monday.

The Pakistan Tehreek-e-Insaf (PTI) lost its two seats vacated be Prime Minister Khan. His seat in Lahore was won by former premier Shahid Khaqan Abbasi of the Pakistan Muslims League-Nawaz (PML-N) and in Bannu by of Zahid Akram Durrani of the Muttahida Majlis Aml party.

The outcome of the by-election will not impact the federal or provincial government but help reinvigorate the opposition parties.

Polling for 11 National Assembly -- the lower house of Parliament -- and 24 provincial seats saw a tough competition between the ruling PTI led by Khan and the main opposition PML-N.

The PML-N and the PTI won four seats each of the National Assembly whereas Pakistan Muslims League-Quadi won two seats and Muttahida Majlis Amal one seat, the Election Commission of Pakistan (ECP) said.

The PTI won 11 seats of the provincial assemblies while the PML-N won seven. The Pakistan Peoples Party (PPP), led by former president Asif Ali Zardari, and Awami National Party won two each and independent candidates grab two seats.

The PML-N won six out of 11 contested seats in Punjab while its arch-rival PTI won five. The PML-N also won a provincial assembly seat in Khyber-Pakhtukhwa, which is the stronghold of the PTI.

The PML-N won several seats vacated by the PTI candidates during July 25 general elections including at least two seats of the National Assembly.

According to the ECP, 9.28 million voters were eligible to vote. For the first time, overseas Pakistanis also participated in the elections though a special online portal designed by the ECP.

Thousands of army soldiers, police and paramilitary Rangers and Frontier Corps were deployed to provide security at 7,489 polling stations.

The ECP had designated as many as 1,727 polling stations as highly sensitive where extra troops were deployed and security cameras installed.

Most of the seats which went to the polls were vacated by those candidates who had won on more than one seat during the July 25 general elections. Prime Minister Khan had won five seats and vacated four which were also up for grabs.&nbsp;

Pakistan's deposed premier Nawaz Sharif's PML-N recovered some ground in the by-elections by eating up the votes of prime minister Imran Khan's PTI, winning four out of 11 parliamentary seats which went to the polls, according to the results on Monday.

Pakistan's deposed premier Nawaz Sharif's PML-N recovered some ground in the by-elections by eating up the votes of prime minister Imran Khan's PTI, winning four out of 11 parliamentary seats which went to the polls, according to the results on Monday. The Pakistan Tehreek-e-Insaf (PTI) lost its two seats vacated be Prime Minister Khan. His seat in Lahore was won by former premier Shahid Khaqan Abbasi of the Pakistan Muslims League-Nawaz (PML-N) and in Bannu by of Zahid Akram Durrani of the Muttahida Majlis Aml party. The outcome of the by-election will not impact the federal or provincial government but help reinvigorate the opposition parties. Polling for 11 National Assembly -- the lower house of Parliament -- and 24 provincial seats saw a tough competition between the ruling PTI led by Khan and the main opposition PML-N. The PML-N and the PTI won four seats each of the National Assembly whereas Pakistan Muslims League-Quadi won two seats and Muttahida Majlis Amal one seat, the Election Commission of Pakistan (ECP) said. The PTI won 11 seats of the provincial assemblies while the PML-N won seven. The Pakistan Peoples Party (PPP), led by former president Asif Ali Zardari, and Awami National Party won two each and independent candidates grab two seats. The PML-N won six out of 11 contested seats in Punjab while its arch-rival PTI won five. The PML-N also won a provincial assembly seat in Khyber-Pakhtukhwa, which is the stronghold of the PTI. The PML-N won several seats vacated by the PTI candidates during July 25 general elections including at least two seats of the National Assembly. According to the ECP, 9.28 million voters were eligible to vote. For the first time, overseas Pakistanis also participated in the elections though a special online portal designed by the ECP. Thousands of army soldiers, police and paramilitary Rangers and Frontier Corps were deployed to provide security at 7,489 polling stations. The ECP had designated as many as 1,727 polling stations as highly sensitive where extra troops were deployed and security cameras installed. Most of the seats which went to the polls were vacated by those candidates who had won on more than one seat during the July 25 general elections. Prime Minister Khan had won five seats and vacated four which were also up for grabs.

Nawaz Sharif's PML-N improves showing in Pakistan by-polls; Imran Khan's PTI front runner

Prime Minister Imran Khan will embark on his first visit to China on November 3 and is expected to meet Chinese President Xi Jinping and other top leaders and discuss ways to boost defence ties as well as the controversy-hit China-Pakistan Economic Corridor projects, according to a media report on Monday.

Prime Minister Khan's visit to China, Pakistan's "all weather" ally, will come ahead of a visit to Islamabad by officials of the International Monetary Fund (IMF) for formal discussions on a bailout package for the cash-strapped country.

The IMF delegation is expected to visit Pakistan on November 7, Finance Minister Asad Umar said last week.&nbsp;

The US has said that the debts accrued on the CPEC projects were to blame for Pakistan's current economic crisis. Both China and Pakistan have rejected Washington's statement.

The three-day visit to China will be the cricketer-turned-politician's third foreign trip since assuming office in August.&nbsp;

He went on an official visit to Saudi Arabia and from there to the United Arab Emirates last month.&nbsp;

Prime Minister Khan will reach China on November 3 and is expected to hold talks over economic and defence cooperation as well as the CPEC projects, Geo News reported.

He will also attend the Chinese International Import Expo 2018 in Shanghai on November 5, it said.

Chinese Premier Li Keqiang invited his new Pakistani counterpart when he telephoned Khan to congratulate him on his election victory.

Premier Li said China wishes to work closely with the new Pakistani government and hoped that the CPEC project will be completed on time.

The over US $50 billion CPEC is a network of infrastructure projects that are currently under construction throughout Pakistan that will connect China's Xinjiang province with Gwadar port in Pakistan's Balochistan province.

China has historically come to Pakistan's rescue with economic, political and military assistance and the leadership of the two countries have often described their ties as "all weather".&nbsp;

Prime Minister Imran Khan will embark on his first visit to China on November 3 and is expected to meet Chinese President Xi Jinping and other top leaders and discuss ways to boost defence ties as well as the controversy-hit China-Pakistan Economic Corridor projects, according to a media report on Monday.

Prime Minister Imran Khan will embark on his first visit to China on November 3 and is expected to meet Chinese President Xi Jinping and other top leaders and discuss ways to boost defence ties as well as the controversy-hit China-Pakistan Economic Corridor projects, according to a media report on Monday. Prime Minister Khan's visit to China, Pakistan's "all weather" ally, will come ahead of a visit to Islamabad by officials of the International Monetary Fund (IMF) for formal discussions on a bailout package for the cash-strapped country. The IMF delegation is expected to visit Pakistan on November 7, Finance Minister Asad Umar said last week. The US has said that the debts accrued on the CPEC projects were to blame for Pakistan's current economic crisis. Both China and Pakistan have rejected Washington's statement. The three-day visit to China will be the cricketer-turned-politician's third foreign trip since assuming office in August. He went on an official visit to Saudi Arabia and from there to the United Arab Emirates last month. Prime Minister Khan will reach China on November 3 and is expected to hold talks over economic and defence cooperation as well as the CPEC projects, Geo News reported. He will also attend the Chinese International Import Expo 2018 in Shanghai on November 5, it said. Chinese Premier Li Keqiang invited his new Pakistani counterpart when he telephoned Khan to congratulate him on his election victory. Premier Li said China wishes to work closely with the new Pakistani government and hoped that the CPEC project will be completed on time. The over US $50 billion CPEC is a network of infrastructure projects that are currently under construction throughout Pakistan that will connect China's Xinjiang province with Gwadar port in Pakistan's Balochistan province. China has historically come to Pakistan's rescue with economic, political and military assistance and the leadership of the two countries have often described their ties as "all weather".

Pakistan PM Imran Khan to embark on first visit China from November 3

A key border crossing between <a href="http://www.wionews.com/south-asia/skirmish-between-afghan-pakistan-armed-forces-along-durand-line-171502">Pakistan and Afghanistan remained closed </a>on Monday as the troops of the two countries exchanged fire after tensions over Pakistani officials fencing the border.&nbsp;

The Friendship Gate near Chaman in Balochistan province in south-west was closed on Sunday after troops of the two sides exchanged fire about 60 km north of the border town of Chaman, with the clash lasting several hours, according to Dawn.

However, it was briefly opened on Sunday evening to let stranded people cross over.

Pakistani officials said Afghan troops opened fire on Pakistani personnel who were erecting a fence along the border in the Tandah Dara Sarochahan area. There were no reports of casualties in the clash.

After the incident, Pakistani border authorities closed the Friendship Gate near Chaman, leaving thousands of people stranded on both sides of the Pak-Afghan border.

The exchange of fire ended in the evening, the officials said. ?The firing stopped late in the evening but the situation is still tense,? they said, adding that Pakistani officials deployed more troops to the area.

Pakistan has been erecting a fence along its western border to stop "illegal influx of terrorists and smugglers from Afghanistan who often use infrequent routes to enter Pakistan."&nbsp;

Pakistan has already informed the Afghan government of its decision to build a border fence. However, Afghan officials in the Spin Buldak area raised objections to Islamabad's decision.&nbsp;

A key border crossing between Pakistan and Afghanistan remained closed on Monday as the troops of the two countries exchanged fire after tensions over Pakistani officials fencing the border.

A key border crossing between Pakistan and Afghanistan remained closed on Monday as the troops of the two countries exchanged fire after tensions over Pakistani officials fencing the border. The Friendship Gate near Chaman in Balochistan province in south-west was closed on Sunday after troops of the two sides exchanged fire about 60 km north of the border town of Chaman, with the clash lasting several hours, according to Dawn. However, it was briefly opened on Sunday evening to let stranded people cross over. Pakistani officials said Afghan troops opened fire on Pakistani personnel who were erecting a fence along the border in the Tandah Dara Sarochahan area. There were no reports of casualties in the clash. After the incident, Pakistani border authorities closed the Friendship Gate near Chaman, leaving thousands of people stranded on both sides of the Pak-Afghan border. The exchange of fire ended in the evening, the officials said. ?The firing stopped late in the evening but the situation is still tense,? they said, adding that Pakistani officials deployed more troops to the area. Pakistan has been erecting a fence along its western border to stop "illegal influx of terrorists and smugglers from Afghanistan who often use infrequent routes to enter Pakistan." Pakistan has already informed the Afghan government of its decision to build a border fence. However, Afghan officials in the Spin Buldak area raised objections to Islamabad's decision.

Pakistan-Afghan border crossing closed after tension over its fencing    

Pakistan is ready to share details of the debt related to the China-Pakistan Economic Corridor (CPEC) with the IMF, Finance Minister Asad Umar has said while rejecting the US' view that China-funded projects were to blame for the cash-strapped country's current economic woes.

Speaking to the media here on his return from Indonesia where he requested International Monetary Fund's Managing Director Christine Lagarde for a bailout package for Pakistan, Umar said the decision to approach the global lender was taken after consultations with friendly countries.

The IMF team, Umar said, was scheduled to arrive in Pakistan on November 7 to negotiate the programme, likely to span over a three-year period. He said Pakistan's current year debt repayments were about $ 9 billion but obviously it would not entirely be available from the IMF.

Lagarde has made it clear that the IMF would require absolute transparency on Pakistan's debts, including those owned by China under the $ 50 billion CPEC.

Umar, however, rejected the US State Department's statement, suggesting that the debt accrued on the CPEC projects was to blame for Pakistan's current economic crisis.

The US Friday said that the huge Chinese debt was responsible for the economic challenges in Pakistan, adding that it will review Islamabad's bailout plea to the IMF from all angles, including the country's debt position.

"We understand that Pakistan has formally requested assistance from the IMF. In all cases, we examine that closely from all angles of it, including Pakistan's debt position, in evaluating any type of loan programme," State Department spokesperson Heather Nauert had said, adding this is something the US has been tracking fairly closely.

Responding to a question, Nauert said; "The secretary (of state Mike Pompeo) had spoken about this a few months back, I know, in some interviews not that long ago. I think part of the reason that Pakistan found itself in this situation is Chinese debt, and the fact that there is debt that governments have incurred that they maybe thought wouldn't be so tough to bail themselves out of, but has become increasingly tough."

Umar said the US was a key stakeholder in the IMF with about 16.5 per cent votes but enjoyed no veto power in its decision making that required majority 51 per cent votes.

He said no government in Pakistan irrespective of any political background could compromise on national security and the Pakistan Tehreek-e-Insaf government, too, would not opt for an IMF programme if conditionalities are of that nature.

But Umar Saturday said the government will have to take difficult decisions that would be painful for people but necessary under international commitments to get out of the current severe economic situation.

The IMF, Umar said, had asked for details of loans, including ones secured in relation to the CPEC projects, for analysing the debt sustainability.

Pakistan would share "normal debt-related information about CPEC with the IMF", the Express Tribune Sunday quoted the finance minister as saying.

Reiterating that the government had decided to approach the Fund in consultation with friendly countries, he said that talks with these countries were still under way. He did not identify these countries but Islamabad was in contact with China and Saudi Arabia in recent weeks.

Unlike 2013, said the minister, the global environment was not favourable to Pakistan that was why the government thoroughly deliberated upon this matter before approaching the IMF.

He said that Pakistan was facing a financing gap of $ 12 billion this year, adding that this gap would not be bridged by IMF alone.

"We will turn to friendly countries again if the IMF terms are unacceptable to Pakistan during talks on the programme," he asserted.

The minister said that he had been contending for quite some time that economic conditions could lead to national security issues and the government would not compromise on matters of national security.

He also said that Saudi Arabia, China and the United Arab Emirates had not placed tough conditions for bailing Pakistan out.

But he declined to cite specific reasons why these countries had not provided any financial assistance to Pakistan, the report said.

Categorically rejecting the US assertion that the country was in an economic mess because of the CPEC-related debt repayments, Umar said that over the next three

years, such repayments amounted to just $ 300 million a year, which "is very nominal against $ 9 billion of total debt repayments payable during this fiscal year alone".

The "statement of state department spokesperson is 100 per cent wrong", the minister said explaining that Pakistan's financing gap for the current year was about $ 12 billion and total repayments to China averaged $ 300 million over the next three years.

"We totally disagree with that statement,"&nbsp;Umar said, adding that he had already explained this to the US representatives and also to the IMF chief.

"The American narrative is totally wrong narrative,"&nbsp;Umar was quoted as saying by the Dawn.

Without disclosing exact numbers, Umar said Pakistan's net foreign currency reserves were far below than the current gross level of $ 8.3 billion.

The minister said that one of the reasons for widening current account deficit was increase in crude oil prices.

He acknowledged that the IMF programme would impact the lower and middle-income groups in Pakistan.

"We can perhaps live without the IMF but this could be more painful," Umar added.&nbsp;

Pakistan is ready to share details of the debt related to the China-Pakistan Economic Corridor (CPEC) with the IMF, Finance Minister Asad Umar has said while rejecting the US' view that China-funded projects were to blame for the cash-strapped country's current economic woes.

Pakistan is ready to share details of the debt related to the China-Pakistan Economic Corridor (CPEC) with the IMF, Finance Minister Asad Umar has said while rejecting the US' view that China-funded projects were to blame for the cash-strapped country's current economic woes. Speaking to the media here on his return from Indonesia where he requested International Monetary Fund's Managing Director Christine Lagarde for a bailout package for Pakistan, Umar said the decision to approach the global lender was taken after consultations with friendly countries. The IMF team, Umar said, was scheduled to arrive in Pakistan on November 7 to negotiate the programme, likely to span over a three-year period. He said Pakistan's current year debt repayments were about $ 9 billion but obviously it would not entirely be available from the IMF. Lagarde has made it clear that the IMF would require absolute transparency on Pakistan's debts, including those owned by China under the $ 50 billion CPEC. Umar, however, rejected the US State Department's statement, suggesting that the debt accrued on the CPEC projects was to blame for Pakistan's current economic crisis. The US Friday said that the huge Chinese debt was responsible for the economic challenges in Pakistan, adding that it will review Islamabad's bailout plea to the IMF from all angles, including the country's debt position. "We understand that Pakistan has formally requested assistance from the IMF. In all cases, we examine that closely from all angles of it, including Pakistan's debt position, in evaluating any type of loan programme," State Department spokesperson Heather Nauert had said, adding this is something the US has been tracking fairly closely. Responding to a question, Nauert said; "The secretary (of state Mike Pompeo) had spoken about this a few months back, I know, in some interviews not that long ago. I think part of the reason that Pakistan found itself in this situation is Chinese debt, and the fact that there is debt that governments have incurred that they maybe thought wouldn't be so tough to bail themselves out of, but has become increasingly tough." Umar said the US was a key stakeholder in the IMF with about 16.5 per cent votes but enjoyed no veto power in its decision making that required majority 51 per cent votes. He said no government in Pakistan irrespective of any political background could compromise on national security and the Pakistan Tehreek-e-Insaf government, too, would not opt for an IMF programme if conditionalities are of that nature. But Umar Saturday said the government will have to take difficult decisions that would be painful for people but necessary under international commitments to get out of the current severe economic situation. The IMF, Umar said, had asked for details of loans, including ones secured in relation to the CPEC projects, for analysing the debt sustainability. Pakistan would share "normal debt-related information about CPEC with the IMF", the Express Tribune Sunday quoted the finance minister as saying. Reiterating that the government had decided to approach the Fund in consultation with friendly countries, he said that talks with these countries were still under way. He did not identify these countries but Islamabad was in contact with China and Saudi Arabia in recent weeks. Unlike 2013, said the minister, the global environment was not favourable to Pakistan that was why the government thoroughly deliberated upon this matter before approaching the IMF. He said that Pakistan was facing a financing gap of $ 12 billion this year, adding that this gap would not be bridged by IMF alone. "We will turn to friendly countries again if the IMF terms are unacceptable to Pakistan during talks on the programme," he asserted. The minister said that he had been contending for quite some time that economic conditions could lead to national security issues and the government would not compromise on matters of national security. He also said that Saudi Arabia, China and the United Arab Emirates had not placed tough conditions for bailing Pakistan out. But he declined to cite specific reasons why these countries had not provided any financial assistance to Pakistan, the report said. Categorically rejecting the US assertion that the country was in an economic mess because of the CPEC-related debt repayments, Umar said that over the next three years, such repayments amounted to just $ 300 million a year, which "is very nominal against $ 9 billion of total debt repayments payable during this fiscal year alone". The "statement of state department spokesperson is 100 per cent wrong", the minister said explaining that Pakistan's financing gap for the current year was about $ 12 billion and total repayments to China averaged $ 300 million over the next three years. "We totally disagree with that statement," Umar said, adding that he had already explained this to the US representatives and also to the IMF chief. "The American narrative is totally wrong narrative," Umar was quoted as saying by the Dawn. Without disclosing exact numbers, Umar said Pakistan's net foreign currency reserves were far below than the current gross level of $ 8.3 billion. The minister said that one of the reasons for widening current account deficit was increase in crude oil prices. He acknowledged that the IMF programme would impact the lower and middle-income groups in Pakistan. "We can perhaps live without the IMF but this could be more painful," Umar added.

Pakistan ready to share details of CPEC debts with IMF for bailout package: Finance minister Umar

Pakistan Prime Minister Imran Khan has flagged off the 'Clean and Green Pakistan'&nbsp;initiative, vowing to make his country cleaner than Europe in the next five years.

He formally launched the programme on Saturday by picking up a broom and sweeping a ground and interacting with school children.

Speaking after launching the initiative, Geo News quoted Khan as saying, "Pakistan ranks seventh among countries affected by global warming, [while] Lahore is among the cities with the highest pollution level. There is no litter in Europe. We litter our country, our lakes and are destroying the future of our country. Pollution decreases 11 years of a person`s life. We need to get out of this mindset that Pakistan will remain same as before."

The cricketer-turned-politician further informed that the Pakistan Tehreek-e-Insaf (PTI) government planted one billion trees in Khyber Pakhtunkhwa province during its tenure. He said that his administration is planning to plant 10 billion trees across the country.

Khan underlined that Pakistan would serve as an example to others by becoming a clean country for the next few years.

The 66-year-old leader also took to his Twitter handle and invited the youth of the country to become actively involved in the cleanliness drive.

He wrote, "Today I launched our #CleanGreenPakistan campaign - a 4-pronged strategy for next 5 years: clean our air, our rivers, our land &amp; make Pak green through tree plantation drive. I want all our nation to be involved, especially youth and children to lead from the front &amp; change people`s mindsets."

Last month, Khan had launched 'Plant for Pakistan'&nbsp;drive, a part of the PTI-led government`s 'Billion Tree Tsunami 2018'&nbsp;initiative.

In his previous speeches, Khan had emphasised on tackling climate change by planting trees and promoting renewable sources of energy. He had also called for a change in mindset among the people by keeping the country clean.&nbsp; 
&nbsp;

Pakistan Prime Minister Imran Khan has flagged off the 'Clean and Green Pakistan' initiative, vowing to make his country cleaner than Europe in the next five years.

Pakistan Prime Minister Imran Khan has flagged off the 'Clean and Green Pakistan' initiative, vowing to make his country cleaner than Europe in the next five years. He formally launched the programme on Saturday by picking up a broom and sweeping a ground and interacting with school children. Speaking after launching the initiative, Geo News quoted Khan as saying, "Pakistan ranks seventh among countries affected by global warming, [while] Lahore is among the cities with the highest pollution level. There is no litter in Europe. We litter our country, our lakes and are destroying the future of our country. Pollution decreases 11 years of a person`s life. We need to get out of this mindset that Pakistan will remain same as before." The cricketer-turned-politician further informed that the Pakistan Tehreek-e-Insaf (PTI) government planted one billion trees in Khyber Pakhtunkhwa province during its tenure. He said that his administration is planning to plant 10 billion trees across the country. Khan underlined that Pakistan would serve as an example to others by becoming a clean country for the next few years. The 66-year-old leader also took to his Twitter handle and invited the youth of the country to become actively involved in the cleanliness drive. He wrote, "Today I launched our #CleanGreenPakistan campaign - a 4-pronged strategy for next 5 years: clean our air, our rivers, our land & make Pak green through tree plantation drive. I want all our nation to be involved, especially youth and children to lead from the front & change people`s mindsets." Last month, Khan had launched 'Plant for Pakistan' drive, a part of the PTI-led government`s 'Billion Tree Tsunami 2018' initiative. In his previous speeches, Khan had emphasised on tackling climate change by planting trees and promoting renewable sources of energy. He had also called for a change in mindset among the people by keeping the country clean.

Will make Pakistan cleaner than Europe: PM Imran Khan

Prime Minister Imran Khan on Saturday vowed to make Pakistan "cleaner than Europe" as he formally launched a campaign aimed at improving sanitary conditions in the country.

Khan planted a sapling and participated in the 'Clean and Green Pakistan' drive at the Model College for Girls in Islamabad, according to Radio Pakistan.

Speaking on the occasion, the prime minister urged the students and youth to lead the campaign as it is connected with the future of the country.

Khan vowed to make the country "cleaner than Europe" in five years.

"For this to happen, we will also have to bring a change in our mindset," he said.

He pointed out that "plantation is imperative to protect the environment and check global warming".

He said Pakistan is the seventh most vulnerable country to global warming. He mentioned that Lahore is among the cities where the pollution level is very high.

Khan claimed his party's government had planted a billion trees in Khyber Pakhtunkhwa province.

He said his government has now set a target of planting 10 billion trees across the country which he said will change the weather pattern.

Khan said under the cleanliness drive, sewerage and sanitation systems will be improved not only in cities but also in slums and villages. He said as part of integrated solution, dumping sites would be identified from village to tehsil level for disposal of solid waste.

Khan said the country requires efforts from students to make Pakistan clean and green.

Prime Minister Imran Khan on Saturday vowed to make Pakistan "cleaner than Europe" as he formally launched a campaign aimed at improving sanitary conditions in the country.

Prime Minister Imran Khan on Saturday vowed to make Pakistan "cleaner than Europe" as he formally launched a campaign aimed at improving sanitary conditions in the country. Khan planted a sapling and participated in the 'Clean and Green Pakistan' drive at the Model College for Girls in Islamabad, according to Radio Pakistan. Speaking on the occasion, the prime minister urged the students and youth to lead the campaign as it is connected with the future of the country. Khan vowed to make the country "cleaner than Europe" in five years. "For this to happen, we will also have to bring a change in our mindset," he said. He pointed out that "plantation is imperative to protect the environment and check global warming". He said Pakistan is the seventh most vulnerable country to global warming. He mentioned that Lahore is among the cities where the pollution level is very high. Khan claimed his party's government had planted a billion trees in Khyber Pakhtunkhwa province. He said his government has now set a target of planting 10 billion trees across the country which he said will change the weather pattern. Khan said under the cleanliness drive, sewerage and sanitation systems will be improved not only in cities but also in slums and villages. He said as part of integrated solution, dumping sites would be identified from village to tehsil level for disposal of solid waste. Khan said the country requires efforts from students to make Pakistan clean and green.

PM Khan vows to make Pakistan 'cleaner than Europe'

Apart from his years of experience in intelligence, Pakistan`s newly appointed Inter-Services Intelligence (ISI) Chief Lt Gen Asim Munir is a 'Hafiz-e-Quran' who memorised the Quran during his posting in Saudi Arabia as Lt Colonel.

Pakistani army's media wing, Inter-Services Public Relations (ISPR) on October 10 announced Lt Gen Munir as the successor of incumbent ISI Chief Lt Gen Naveed Mukhtar. The announcement of Lt Gen Munir came two weeks after being promoted to the post of Lieutenant General.

Lt Gen Munir will be assuming office on October 25 after the retirement of Lt Gen Mukhtar.

The Nation reported that Pakistan`s Prime Minister Imran Khan appointed Lt Gen Munir after a meeting with Army chief General Qamar Javed Bajwa and the Lt Gen Mukhtar on September 28, rather than taking the traditional route of appointing an ISI chief from a pool of three names nominated by the Army chief.

The appointment of the new ISI chief is the first major military-related appointment undertaken by the Imran Khan-led government after coming into power following the July 25 elections.

Lt Gen Munir previously served as Director General Military Intelligence and was thought to be a strong contender for the spy agency post.&nbsp;

Only three Military Intelligence chiefs have been appointed as the head of ISI in the past three decades, the last one being Lt Gen Nadeem Taj who was in office from 2007 to 2008.

Lt Gen Munir is believed to be Gen Bajwa`s most trusted aide, having worked under Bajwa when he headed Corps X that is in charge of the Northern areas. The Nation also suggests that the Army chief had picked Lt Gen Munir as ISI chief just months after assuming command in November 2016.

According to Dawn, speculations about him taking over as the ISI chief were rife following the reports that Lt Gen Mukhtar would be retiring.

Lt Gen Munir was recently awarded the Hilal-i-Imtiaz, Pakistan`s second highest civilian award. He has also served as commander of the Force Command Northern Areas, according to media reports.

Apart from his years of experience in intelligence, Pakistan`s newly appointed Inter-Services Intelligence (ISI) Chief Lt Gen Asim Munir is a 'Hafiz-e-Quran' who memorised the Quran during his posting in Saudi Arabia as Lt Colonel.

Apart from his years of experience in intelligence, Pakistan`s newly appointed Inter-Services Intelligence (ISI) Chief Lt Gen Asim Munir is a 'Hafiz-e-Quran' who memorised the Quran during his posting in Saudi Arabia as Lt Colonel. Pakistani army's media wing, Inter-Services Public Relations (ISPR) on October 10 announced Lt Gen Munir as the successor of incumbent ISI Chief Lt Gen Naveed Mukhtar. The announcement of Lt Gen Munir came two weeks after being promoted to the post of Lieutenant General. Lt Gen Munir will be assuming office on October 25 after the retirement of Lt Gen Mukhtar. The Nation reported that Pakistan`s Prime Minister Imran Khan appointed Lt Gen Munir after a meeting with Army chief General Qamar Javed Bajwa and the Lt Gen Mukhtar on September 28, rather than taking the traditional route of appointing an ISI chief from a pool of three names nominated by the Army chief. The appointment of the new ISI chief is the first major military-related appointment undertaken by the Imran Khan-led government after coming into power following the July 25 elections. Lt Gen Munir previously served as Director General Military Intelligence and was thought to be a strong contender for the spy agency post. Only three Military Intelligence chiefs have been appointed as the head of ISI in the past three decades, the last one being Lt Gen Nadeem Taj who was in office from 2007 to 2008. Lt Gen Munir is believed to be Gen Bajwa`s most trusted aide, having worked under Bajwa when he headed Corps X that is in charge of the Northern areas. The Nation also suggests that the Army chief had picked Lt Gen Munir as ISI chief just months after assuming command in November 2016. According to Dawn, speculations about him taking over as the ISI chief were rife following the reports that Lt Gen Mukhtar would be retiring. Lt Gen Munir was recently awarded the Hilal-i-Imtiaz, Pakistan`s second highest civilian award. He has also served as commander of the Force Command Northern Areas, according to media reports.

Pakistan's new ISI chief Lt Gen Asim Munir a 'Hafiz-e-Quran'

Anti-terror watchdog Financial Action Task Force, FATF, has cracked its whip again on Pakistan stating that all business transactions in the country must be documented.&nbsp;

After placing Pakistan on the grey list of countries that financially aid terrorism, the FATF has asked the Imran Khan-led the government to track transactions. Sources told WION that Pakistan will be required to document its dollar and euro transactions above 3,000 dollars with details of the sender. &nbsp;&nbsp;

Government sources in Pakistan have confirmed to WION that the FATF wants the government to maintain records of all transactions, even ones not done through banks.

In addition, all business transactions by real estate agents, dealers of gold and professional services providers will also need to be documented, sources informed.&nbsp;

A nine-member financial action task force team was in Islamabad recently to discuss measures taken by the Pak government to counter money laundering and terror financing.

The anti-terror financing body has also asked Pakistan for a deadline to end money laundering and terror financing from its territory.

Meanwhile, Pakistan Prime Minister Imran Khan on Wednesday stated that <a href="http://www.wionews.com/india-news/we-dont-have-enough-to-pay-loans-decided-to-approach-imf-and-friendly-countries-imran-khan-170763">Pakistan will go to the International Monetary Fund and friendly countries</a> for financial help to avert a looming balance of payments crisis.&nbsp;

Khan said the current account deficit was about $18 billion. "We do not have enough dollars to pay the instalments of our loans," he said in a speech. "We debated and decided to go both the IMF and countries which are our friends."

Khan described ironically the $18 billion deficit as "a gift from the previous government".

"This is the biggest ever deficit of Pakistan's history," he said. "I want to tell all of you to stay strong and not to panic. This is for a very short period of time which will go away," news agency Reuters quoted Khan.

(With inputs from Reuters)&nbsp; 
&nbsp;

Anti-terror watchdog Financial Action Task Force, FATF, has cracked its whip again on Pakistan stating that all business transactions in the country must be documented.

Anti-terror watchdog Financial Action Task Force, FATF, has cracked its whip again on Pakistan stating that all business transactions in the country must be documented. After placing Pakistan on the grey list of countries that financially aid terrorism, the FATF has asked the Imran Khan-led the government to track transactions. Sources told WION that Pakistan will be required to document its dollar and euro transactions above 3,000 dollars with details of the sender. Government sources in Pakistan have confirmed to WION that the FATF wants the government to maintain records of all transactions, even ones not done through banks. In addition, all business transactions by real estate agents, dealers of gold and professional services providers will also need to be documented, sources informed. A nine-member financial action task force team was in Islamabad recently to discuss measures taken by the Pak government to counter money laundering and terror financing. The anti-terror financing body has also asked Pakistan for a deadline to end money laundering and terror financing from its territory. Meanwhile, Pakistan Prime Minister Imran Khan on Wednesday stated that Pakistan will go to the International Monetary Fund and friendly countries for financial help to avert a looming balance of payments crisis. Khan said the current account deficit was about $18 billion. "We do not have enough dollars to pay the instalments of our loans," he said in a speech. "We debated and decided to go both the IMF and countries which are our friends." Khan described ironically the $18 billion deficit as "a gift from the previous government". "This is the biggest ever deficit of Pakistan's history," he said. "I want to tell all of you to stay strong and not to panic. This is for a very short period of time which will go away," news agency Reuters quoted Khan. (With inputs from Reuters)

FATF cracks whip on Pakistan again, asks to document all business transactions

Pakistan will go to the International Monetary Fund and friendly countries for financial help to avert a looming balance of payments crisis, Prime Minister Imran Khan said on Wednesday.

His comments suggest the government will approach both Saudi Arabia and China for loans alongside any assistance provided by the IMF. Beijing and Riyadh have provided Pakistan with financial assistance in the past.

Khan said the current account deficit was about $18 billion. "We do not have enough dollars to pay the instalments of our loans," he said in a speech. "We debated and decided to go both the IMF and countries which are our friends."

Khan, who took office in July, has been seeking alternatives to a second IMF bailout in five years - which would be likely to impose tough conditions on government policy, limiting his vision of an Islamic welfare state - but decided on Monday to open talks with the international lending body.

Finance Minister Asad Umar is due to meet officials at this week's annual conference of the IMF and the World Bank in Bali, Indonesia, to discuss a potential package.

Pakistan's foreign reserves dropped by $627 million in late September to $8.4 billion, barely enough to cover sovereign debt payments due through the end of the year.

On Tuesday, the Pakistani rupee plunged 7 per cent in an apparent central bank devaluation, the country's fifth devaluation since December. This took total rupee losses since then to about 26 per cent, a level seen as a prerequisite for another IMF rescue package.

In his first official state visit, Khan and Umar flew to Saudi Arabia and the government later announced Riyadh would be investing in Chinese-funded development projects.

Beijing has pledged $60 billion to build infrastructure and energy projects to help turn Pakistan into a major overland route linking western China to the world.

Chinese Foreign Minister Wang Yi visited Islamabad last month when he met Khan and reiterated that Chinese investment would help revitalise Pakistan's economy.

Khan described ironically the $18 billion deficit as "a gift from the previous government".

"This is the biggest ever deficit of Pakistan's history," he said. "I want to tell all of you to stay strong and not to panic. This is &nbsp;a very short period of time which will go away."

In the past, Khan had said going to the IMF for assistance and taking loans would be a last resort for his government.

Pakistan will go to the International Monetary Fund and friendly countries for financial help to avert a looming balance of payments crisis, Prime Minister Imran Khan said on Wednesday.

Pakistan will go to the International Monetary Fund and friendly countries for financial help to avert a looming balance of payments crisis, Prime Minister Imran Khan said on Wednesday. His comments suggest the government will approach both Saudi Arabia and China for loans alongside any assistance provided by the IMF. Beijing and Riyadh have provided Pakistan with financial assistance in the past. Khan said the current account deficit was about $18 billion. "We do not have enough dollars to pay the instalments of our loans," he said in a speech. "We debated and decided to go both the IMF and countries which are our friends." Khan, who took office in July, has been seeking alternatives to a second IMF bailout in five years - which would be likely to impose tough conditions on government policy, limiting his vision of an Islamic welfare state - but decided on Monday to open talks with the international lending body. Finance Minister Asad Umar is due to meet officials at this week's annual conference of the IMF and the World Bank in Bali, Indonesia, to discuss a potential package. Pakistan's foreign reserves dropped by $627 million in late September to $8.4 billion, barely enough to cover sovereign debt payments due through the end of the year. On Tuesday, the Pakistani rupee plunged 7 per cent in an apparent central bank devaluation, the country's fifth devaluation since December. This took total rupee losses since then to about 26 per cent, a level seen as a prerequisite for another IMF rescue package. In his first official state visit, Khan and Umar flew to Saudi Arabia and the government later announced Riyadh would be investing in Chinese-funded development projects. Beijing has pledged $60 billion to build infrastructure and energy projects to help turn Pakistan into a major overland route linking western China to the world. Chinese Foreign Minister Wang Yi visited Islamabad last month when he met Khan and reiterated that Chinese investment would help revitalise Pakistan's economy. Khan described ironically the $18 billion deficit as "a gift from the previous government". "This is the biggest ever deficit of Pakistan's history," he said. "I want to tell all of you to stay strong and not to panic. This is a very short period of time which will go away." In the past, Khan had said going to the IMF for assistance and taking loans would be a last resort for his government.

We don't have enough to pay loans, decided to approach IMF and friendly countries: Imran Khan

IMF chief Christine Lagarde met with Pakistani officials Thursday and said a team would visit Islamabad for talks on a possible bailout of its shaky economy.

Pakistan Finance Minister Asad Umar, who is attending the Fund's annual meeting in Bali, announced earlier this week that the government would seek talks with the IMF on a "stabilisation recovery programme".

Lagarde earlier Thursday said the IMF had yet to receive anything formal from Islamabad but that she would meet with the Pakistani delegation in Bali.

"During the meeting, they requested financial assistance from the IMF to help address Pakistan's economic challenges," Lagarde said in a statement.

"An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic programme." Prime Minister Imran Khan on Wednesday vowed to steer the country out of a looming balance-of-payments crisis, saying it needs US $10-12 billion.

"We will get out of this. I will take (the country) out of this," he said.

Khan's new administration took office in August vowing to weigh up whether to seek an IMF bailout as it sought other avenues of financing.

He has sought loans from friendly countries, promised to recover funds stolen by corrupt officials, and embarked on a series of populist austerity measures.

But help has been in short supply and economists' warnings have grown increasingly urgent.

Pakistan has gone to the IMF several times since the late 1980s. The most recent was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis.&nbsp;

IMF chief Christine Lagarde met with Pakistani officials Thursday and said a team would visit Islamabad for talks on a possible bailout of its shaky economy. Pakistan Finance Minister Asad Umar, who is attending the Fund's annual meeting in Bali, announced earlier this week that the government would seek talks with the IMF on a "stabilisation recovery programme".

IMF chief Christine Lagarde met with Pakistani officials Thursday and said a team would visit Islamabad for talks on a possible bailout of its shaky economy. Pakistan Finance Minister Asad Umar, who is attending the Fund's annual meeting in Bali, announced earlier this week that the government would seek talks with the IMF on a "stabilisation recovery programme". Lagarde earlier Thursday said the IMF had yet to receive anything formal from Islamabad but that she would meet with the Pakistani delegation in Bali. "During the meeting, they requested financial assistance from the IMF to help address Pakistan's economic challenges," Lagarde said in a statement. "An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic programme." Prime Minister Imran Khan on Wednesday vowed to steer the country out of a looming balance-of-payments crisis, saying it needs US $10-12 billion. "We will get out of this. I will take (the country) out of this," he said. Khan's new administration took office in August vowing to weigh up whether to seek an IMF bailout as it sought other avenues of financing. He has sought loans from friendly countries, promised to recover funds stolen by corrupt officials, and embarked on a series of populist austerity measures. But help has been in short supply and economists' warnings have grown increasingly urgent. Pakistan has gone to the IMF several times since the late 1980s. The most recent was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis.

Pakistan finance minister meets IMF chief to seek bailout

Pakistan Prime Minister Imran Khan on Thursday tweeted out announcing another ambitious plan that his government has decided to undertake to build 'Naya Pakistan.'&nbsp;

In his tweet, Khan announced a "landmark policy" under which 5 million homes will be built in the next five years.&nbsp;

"We have launched our most ambitious, landmark housing policy of building 5mn homes in 5 yrs," the tweet read.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
We have launched our most ambitious, landmark housing policy of building 5mn homes in 5 yrs. InshaAllah this will provide affordable houses for our less privileged strata of society, plus 6mn jobs, create demand in 40 industries directly involved in house building &amp; attract FDI.
— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1050248198919528448?ref_src=twsrc%5Etfw">October 11, 2018</a></blockquote>
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"InshaAllah this will provide affordable houses for our less privileged strata of society," the Prime Minister added, promising 6 million jobs.

He also said that his government will aim to "create demand in 40 industries directly involved in house building and attract FDI."

The move comes shortly after the Pakistan Tehreek-e-Insaf chief launched a <a href="http://www.wionews.com/south-asia/swachh-pak-pm-imran-launches-nationwide-cleanliness-drive-170237">nationwide cleanliness drive</a> earlier this week.&nbsp;

PM Imran Khan said the government's "Clean Green Pakistan" initiative will be launched at the tehsil level.&nbsp;

"Brain is the powerhouse which drives change," he said, adding that it will teach kids in the country on the importance of cleanliness.

Pakistan Prime Minister Imran Khan on Thursday tweeted out announcing another ambitious plan that his government has decided to undertake to build 'Naya Pakistan.

Pakistan Prime Minister Imran Khan on Thursday tweeted out announcing another ambitious plan that his government has decided to undertake to build 'Naya Pakistan.' In his tweet, Khan announced a "landmark policy" under which 5 million homes will be built in the next five years. "We have launched our most ambitious, landmark housing policy of building 5mn homes in 5 yrs," the tweet read. We have launched our most ambitious, landmark housing policy of building 5mn homes in 5 yrs. InshaAllah this will provide affordable houses for our less privileged strata of society, plus 6mn jobs, create demand in 40 industries directly involved in house building & attract FDI. — Imran Khan (@ImranKhanPTI) October 11, 2018 × "InshaAllah this will provide affordable houses for our less privileged strata of society," the Prime Minister added, promising 6 million jobs. He also said that his government will aim to "create demand in 40 industries directly involved in house building and attract FDI." The move comes shortly after the Pakistan Tehreek-e-Insaf chief launched a nationwide cleanliness drive earlier this week. PM Imran Khan said the government's "Clean Green Pakistan" initiative will be launched at the tehsil level. "Brain is the powerhouse which drives change," he said, adding that it will teach kids in the country on the importance of cleanliness.

Will build 5 million houses in five years: Imran Khan launches 'ambitious, landmark' policy

Pakistan's&nbsp;new prime minister Imran Khan has pledged to steer the country out of the looming financial crisis by taking help from the IMF and "friendly countries".

Khan said that his country has two options, it can either go to friendly countries or&nbsp;it can also seek help from IMF.

"We will get out of this. I will take (the country) out of this. We have two options: one, we can go to friendly countries and ask them to bridge this gap; and second, that we go to the IMF," he said, adding that the government has decided to do "both".

Khan said the country needs $10-12 billion, which he dismissed as "not a major issue" in televised comments.

Blaming the condition of Pakistan on previous governments he said his government was forced to borrow money to pay back.

He said Pakistan is burdened due to debts incurred by the previous government and his government is constrained to borrow more money to pay back those debts.

Since he assumed office in August, Khan has pledged to take the country out of the balance of payments crisis.

He has taken several measures including auctioning of government properties and crowd funding to stabilise the shaky economy.

Khan also promised to&nbsp;recover funds stolen by corrupt officials.

Pakistan has gone to the IMF multiple times since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis.

Khan, who came to power on an anti-corruption agenda and promises of building an Islamic welfare state, encouraged citizens not to get frustrated.

"This is a very small period (of crisis). Our country is a rich country, it is blessed by Allah. This country will come out of crisis," he said.

Khan also announced that his government will begin a massive low-cost housing scheme with the aim of building five million homes in five years.

He clarified that the government is seeking funds from external sources only for the short term, as the economic reforms and austerity measures initiated by his government "will take six months to show results".&nbsp;&nbsp; &nbsp;

His government has come under heavy criticism after the decision to seek a bailout package from the IMF as Khan in the past had vowed never to seek such assistance and also attacked previous government for going to IMF for loans.

(With inputs from agencies)

Pakistan's new prime minister Imran Khan has pledged to steer the country out of the looming financial crisis by taking help from the IMF and "friendly countries".

Pakistan's new prime minister Imran Khan has pledged to steer the country out of the looming financial crisis by taking help from the IMF and "friendly countries". Khan said that his country has two options, it can either go to friendly countries or it can also seek help from IMF. "We will get out of this. I will take (the country) out of this. We have two options: one, we can go to friendly countries and ask them to bridge this gap; and second, that we go to the IMF," he said, adding that the government has decided to do "both". Khan said the country needs $10-12 billion, which he dismissed as "not a major issue" in televised comments. Blaming the condition of Pakistan on previous governments he said his government was forced to borrow money to pay back. He said Pakistan is burdened due to debts incurred by the previous government and his government is constrained to borrow more money to pay back those debts. Since he assumed office in August, Khan has pledged to take the country out of the balance of payments crisis. He has taken several measures including auctioning of government properties and crowd funding to stabilise the shaky economy. Khan also promised to recover funds stolen by corrupt officials. Pakistan has gone to the IMF multiple times since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis. Khan, who came to power on an anti-corruption agenda and promises of building an Islamic welfare state, encouraged citizens not to get frustrated. "This is a very small period (of crisis). Our country is a rich country, it is blessed by Allah. This country will come out of crisis," he said. Khan also announced that his government will begin a massive low-cost housing scheme with the aim of building five million homes in five years. He clarified that the government is seeking funds from external sources only for the short term, as the economic reforms and austerity measures initiated by his government "will take six months to show results". His government has come under heavy criticism after the decision to seek a bailout package from the IMF as Khan in the past had vowed never to seek such assistance and also attacked previous government for going to IMF for loans. (With inputs from agencies)

Will approach both friendly countries, IMF to overcome economic crisis: Imran Khan

Pakistan has not yet formally approached the International Monetary Fund for financial assistance, but if bailout talks get underway this week, the goal will be to help Pakistan reach its full potential, the IMF’s chief economist said on Tuesday.

Addressing a news conference at the IMF and World Bank annual meetings in Bali, the IMF’s Maurice Obstfeld cautioned that increased Chinese involvement in Pakistan’s economy could bring both benefits and risks.

Obstfeld said Pakistan is facing financing gaps as it has been hit by a large fiscal and current account deficit, a low level of reserves and a currency he described as “too rigid” and over-valued.

Finance Minister Asad Umar said on Monday the government would seek to open talks with the IMF in Bali this week for emergency financial assistance. 
&nbsp; 
Prime Minister Imran Khan had earlier sought alternatives to a second bailout programme in five years from the IMF as it impose austerity and limit his vision of an Islamic welfare state.

Obstfeld said that if the IMF does enter into talks with Pakistan this week on a possible new financing programme, the goal would be reforms that would help Pakistan reach its “immense potential” without providing specific details.

“The government has expressed its desires to enact deep structural reforms that might break the cycle of Pakistan needing financial support from the Fund,” he said.

Infrastructure needs

Pakistan needs more infrastructure development, Obstfeld added, and the country could benefit from China’s role in supporting its project financing.

But China’s involvement could also bring potential risks, he said.

“It is important that the design of the projects... be solid and excessive debts which cannot be repaid are avoided,” the IMF chief economist said.

Islamabad has cut the size of the biggest Chinese “Silk Road” project in Pakistan, a reconstruction of the main rail line between the port city of Karachi and Peshawar in the northwest by $2 billion, citing government concerns about the country’s debt levels.

The changes are part of Islamabad’s efforts to rethink key Belt and Road Initiative projects in Pakistan, to which China has pledged about $60bn in financing.

The Trump administration has been critical of China’s Belt and Road initiative, saying that it has saddled some developing countries with debts they cannot afford to repay.

In July, US Secretary of State Mike Pompeo said there was “no rationale” for an IMF bailout of Pakistan that pays off Chinese loans to Pakistan.

Chinese officials have rejected criticism that the so-called China-Pakistan Economic Corridor projects have burdened Pakistan with unsustainable debts. Instead, the Chinese maintain, they have boosted the country’s economic growth and provided 70,000 jobs.

Pakistan has not yet formally approached the International Monetary Fund for financial assistance, but if bailout talks get underway this week, the goal will be to help Pakistan reach its full potential, the IMF’s chief economist said on Tuesday.

Pakistan has not yet formally approached the International Monetary Fund for financial assistance, but if bailout talks get underway this week, the goal will be to help Pakistan reach its full potential, the IMF’s chief economist said on Tuesday. Addressing a news conference at the IMF and World Bank annual meetings in Bali, the IMF’s Maurice Obstfeld cautioned that increased Chinese involvement in Pakistan’s economy could bring both benefits and risks. Obstfeld said Pakistan is facing financing gaps as it has been hit by a large fiscal and current account deficit, a low level of reserves and a currency he described as “too rigid” and over-valued. Finance Minister Asad Umar said on Monday the government would seek to open talks with the IMF in Bali this week for emergency financial assistance. Prime Minister Imran Khan had earlier sought alternatives to a second bailout programme in five years from the IMF as it impose austerity and limit his vision of an Islamic welfare state. Obstfeld said that if the IMF does enter into talks with Pakistan this week on a possible new financing programme, the goal would be reforms that would help Pakistan reach its “immense potential” without providing specific details. “The government has expressed its desires to enact deep structural reforms that might break the cycle of Pakistan needing financial support from the Fund,” he said. Infrastructure needs Pakistan needs more infrastructure development, Obstfeld added, and the country could benefit from China’s role in supporting its project financing. But China’s involvement could also bring potential risks, he said. “It is important that the design of the projects... be solid and excessive debts which cannot be repaid are avoided,” the IMF chief economist said. Islamabad has cut the size of the biggest Chinese “Silk Road” project in Pakistan, a reconstruction of the main rail line between the port city of Karachi and Peshawar in the northwest by $2 billion, citing government concerns about the country’s debt levels. The changes are part of Islamabad’s efforts to rethink key Belt and Road Initiative projects in Pakistan, to which China has pledged about $60bn in financing. The Trump administration has been critical of China’s Belt and Road initiative, saying that it has saddled some developing countries with debts they cannot afford to repay. In July, US Secretary of State Mike Pompeo said there was “no rationale” for an IMF bailout of Pakistan that pays off Chinese loans to Pakistan. Chinese officials have rejected criticism that the so-called China-Pakistan Economic Corridor projects have burdened Pakistan with unsustainable debts. Instead, the Chinese maintain, they have boosted the country’s economic growth and provided 70,000 jobs.

IMF warns Pakistan against ‘excessive loans’ from China

Pakistan has said it would approach the IMF for a bailout package of $ 6 to 7 billion to address the mounting balance of payments crisis faced by the cash-strapped country.

Finance Minister Asad Umar on Monday said Prime Minister Imran Khan has endorsed the decision to seek assistance from the International Monetary Fund (IMF).

"After taking into account the current situation and consultation with leading economists, the government has decided to approach the IMF for a bailout programme," Umar said in a recorded video message.

Pakistan is likely to request the IMF to provide it $ 6 to 7 billion, Geo News reported.

The government took the decision after friendly countries did not bail it out even though Khan himself went to Saudi Arabia with a "begging bowl", the Express Tribune reported.

Adviser to the Prime Minister on Commerce Razak Dawood, who accompanied the premier, said: "it was awful to beg from Saudi Arabia".

Umar said talks with the IMF will start immediately as Khan approved the decision after consultations.

"It was decided today that we should start negotiations with the IMF for a stabilisation and recovery programme so that we should bring the current difficult economic situation under control," Umar said in the message.

He said the country is going through a tough time.

Sources said Khan's government needs at least $ 9 billion to meet the current account deficit.

An assessment by the State Bank of Pakistan and the finance ministry showed that Pakistan needed $ 11.7 billion to service its external debt in the current fiscal year 2018-19.

"We have to find a way to get out of this difficult situation," Umar said.

Sources in the finance ministry said the government explored all options including asking friendly countries for support as well as seeking donations from overseas Pakistanis before going to the IMF.

However, they said the IMF would demand Pakistan reduce its non-development expenses to bring down the budget deficit.

The sources said the world body will also ask Islamabad to expand the tax net in the country, and added that the IMF also wants Pakistan to decrease circular debts and losses in state institutions, the report said.

Umar is expected to lead a delegation to attend the annual meeting of the IMF and World Bank in Bali, Indonesia from October 12 to 14, where he will start initial talks for the bailout package.

It may take a few months before the agreement is reached and money starts pouring in from the IMF, the report said.

The IMF assistance should be enough to bridge the deficit gap and support the plummeting foreign exchange reserves which have plunged below USD 10 billion, it said.

The government has come under criticism from various quarters, including the opposition, for delaying the decision to approach the IMF soon after&nbsp; 
Khan's party won the general election on July 25.

The decision will create hardship for Khan as IMF's tough conditions will surely result in price hike.

Pakistan has availed 12 IMF bailouts since the late 1980s. The last one was in September, 2013 when the IMF approved a $ 6.6 billion loan support to the government's programme to stabilise its economy and boost growth while expanding its social safety net to protect the poor.

Meanwhile, the Pakistani rupee on Tuesday also suffered massive devaluation after the government's decision.

The Dawn reported that the interbank rate of the US dollar was at Rs 124 as the market opened, but rose to Rs 138, then dipped slightly to Rs 133.

The open market rate is Rs 134 to Rs 135, according to Zafar Paracha, Secretary, General Exchange Companies Association of Pakistan.

Currency dealers fear the alarming increase will fan panic in the market for dollars, causing a buying frenzy for the US dollar.

They speculate that the sudden increase in the price of the dollar could be a result of rupee devaluation by the State Bank of Pakistan (SBP) in order to get the IMF package.&nbsp;

The IMF has demanded the government devalue the rupee by at least 15 per cent.

Pakistan has said it would approach the IMF for a bailout package of $ 6 to 7 billion to address the mounting balance of payments crisis faced by the cash-strapped country.

Pakistan has said it would approach the IMF for a bailout package of $ 6 to 7 billion to address the mounting balance of payments crisis faced by the cash-strapped country. Finance Minister Asad Umar on Monday said Prime Minister Imran Khan has endorsed the decision to seek assistance from the International Monetary Fund (IMF). "After taking into account the current situation and consultation with leading economists, the government has decided to approach the IMF for a bailout programme," Umar said in a recorded video message. Pakistan is likely to request the IMF to provide it $ 6 to 7 billion, Geo News reported. The government took the decision after friendly countries did not bail it out even though Khan himself went to Saudi Arabia with a "begging bowl", the Express Tribune reported. Adviser to the Prime Minister on Commerce Razak Dawood, who accompanied the premier, said: "it was awful to beg from Saudi Arabia". Umar said talks with the IMF will start immediately as Khan approved the decision after consultations. "It was decided today that we should start negotiations with the IMF for a stabilisation and recovery programme so that we should bring the current difficult economic situation under control," Umar said in the message. He said the country is going through a tough time. Sources said Khan's government needs at least $ 9 billion to meet the current account deficit. An assessment by the State Bank of Pakistan and the finance ministry showed that Pakistan needed $ 11.7 billion to service its external debt in the current fiscal year 2018-19. "We have to find a way to get out of this difficult situation," Umar said. Sources in the finance ministry said the government explored all options including asking friendly countries for support as well as seeking donations from overseas Pakistanis before going to the IMF. However, they said the IMF would demand Pakistan reduce its non-development expenses to bring down the budget deficit. The sources said the world body will also ask Islamabad to expand the tax net in the country, and added that the IMF also wants Pakistan to decrease circular debts and losses in state institutions, the report said. Umar is expected to lead a delegation to attend the annual meeting of the IMF and World Bank in Bali, Indonesia from October 12 to 14, where he will start initial talks for the bailout package. It may take a few months before the agreement is reached and money starts pouring in from the IMF, the report said. The IMF assistance should be enough to bridge the deficit gap and support the plummeting foreign exchange reserves which have plunged below USD 10 billion, it said. The government has come under criticism from various quarters, including the opposition, for delaying the decision to approach the IMF soon after Khan's party won the general election on July 25. The decision will create hardship for Khan as IMF's tough conditions will surely result in price hike. Pakistan has availed 12 IMF bailouts since the late 1980s. The last one was in September, 2013 when the IMF approved a $ 6.6 billion loan support to the government's programme to stabilise its economy and boost growth while expanding its social safety net to protect the poor. Meanwhile, the Pakistani rupee on Tuesday also suffered massive devaluation after the government's decision. The Dawn reported that the interbank rate of the US dollar was at Rs 124 as the market opened, but rose to Rs 138, then dipped slightly to Rs 133. The open market rate is Rs 134 to Rs 135, according to Zafar Paracha, Secretary, General Exchange Companies Association of Pakistan. Currency dealers fear the alarming increase will fan panic in the market for dollars, causing a buying frenzy for the US dollar. They speculate that the sudden increase in the price of the dollar could be a result of rupee devaluation by the State Bank of Pakistan (SBP) in order to get the IMF package. The IMF has demanded the government devalue the rupee by at least 15 per cent.

Pakistan to seek $ 6-7 billion IMF bailout: Finance Minister Asad Umar

China on Tuesday played down reports of Pakistan's plans to cut down a railway project under the multi-billion dollar CPEC by $ 2 billion, saying Prime Minister Imran Khan has assured his support to the various projects under the flagship Belt and Road Initiative.

Pakistan's Railways Minister Sheikh Rashid recently announced plans to cut the $ 8.2 billion Karachi-Peshawar railway project by about $ 2 billion.

It is the biggest project under the $ 50 billion China Pakistan Economic Corridor (CPEC) which India opposes as it is being laid through Pakistan-occupied Kashmir.

On Sunday, Khan said Pakistan is reviewing the projects under the CPEC to safeguard the interest of the people in Balochistan province.

Khan in the past criticised former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects.

He said that Balochistan had a number of reservations about the mega project.

Asked about Pakistan's plans to cut down the railway projects over fears of accumulating debt, Chinese Foreign Ministry spokesman Lu Kang told media on Tuesday that the new Pakistan government has expressed its support for the CPEC projects.

"You have only noted some aspects of the report. Recently on the advancement of the CPEC, we have noted that there are different comments and reports coming from the media.

"You can see that the new Pakistani government and Prime Minister (Khan) has made it clear that they will support the advancement of the CPEC," Lu said.

He was apparently referring to the assurances by the new government in Islamabad about the continuation of the CPEC projects during the recent visit of Chinese Foreign Minister Wang Yi to Pakistan.

Lu said the CPEC served the economic and social development and referred to the International Monetary Fund (IMF) report which he said "made it clear that the advancement of the CPEC did not cause any burden to Pakistan".

"The IMF also said the CPEC from a long-term perspective will enhance Pakistan's capacity for the development," he said, adding that all the projects were conceived after extensive consultations with Pakistan.

About the comments by some Pakistan officials to cut down the cost of the projects, he said: "We should view such comments in a comprehensive way. Actually, the advancement of the CPEC is conducive to the inter- 
connectivity and prosperity of the region including Pakistan".

"We hope you can see that the CPEC is very important project of the Belt and Road Initiative (BRI)," Li added.

China had announced after the visit of Wang to Pakistan in September that the CPEC projects will be extended to the western areas of Pakistan, which included Balochistan.

The CPEC is the flagship project of the multi-billion dollar BRI, a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects

China on Tuesday played down reports of Pakistan's plans to cut down a railway project under the multi-billion dollar CPEC by $ 2 billion, saying Prime Minister Imran Khan has assured his support to the various projects under the flagship Belt and Road Initiative.

China on Tuesday played down reports of Pakistan's plans to cut down a railway project under the multi-billion dollar CPEC by $ 2 billion, saying Prime Minister Imran Khan has assured his support to the various projects under the flagship Belt and Road Initiative. Pakistan's Railways Minister Sheikh Rashid recently announced plans to cut the $ 8.2 billion Karachi-Peshawar railway project by about $ 2 billion. It is the biggest project under the $ 50 billion China Pakistan Economic Corridor (CPEC) which India opposes as it is being laid through Pakistan-occupied Kashmir. On Sunday, Khan said Pakistan is reviewing the projects under the CPEC to safeguard the interest of the people in Balochistan province. Khan in the past criticised former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects. He said that Balochistan had a number of reservations about the mega project. Asked about Pakistan's plans to cut down the railway projects over fears of accumulating debt, Chinese Foreign Ministry spokesman Lu Kang told media on Tuesday that the new Pakistan government has expressed its support for the CPEC projects. "You have only noted some aspects of the report. Recently on the advancement of the CPEC, we have noted that there are different comments and reports coming from the media. "You can see that the new Pakistani government and Prime Minister (Khan) has made it clear that they will support the advancement of the CPEC," Lu said. He was apparently referring to the assurances by the new government in Islamabad about the continuation of the CPEC projects during the recent visit of Chinese Foreign Minister Wang Yi to Pakistan. Lu said the CPEC served the economic and social development and referred to the International Monetary Fund (IMF) report which he said "made it clear that the advancement of the CPEC did not cause any burden to Pakistan". "The IMF also said the CPEC from a long-term perspective will enhance Pakistan's capacity for the development," he said, adding that all the projects were conceived after extensive consultations with Pakistan. About the comments by some Pakistan officials to cut down the cost of the projects, he said: "We should view such comments in a comprehensive way. Actually, the advancement of the CPEC is conducive to the inter- connectivity and prosperity of the region including Pakistan". "We hope you can see that the CPEC is very important project of the Belt and Road Initiative (BRI)," Li added. China had announced after the visit of Wang to Pakistan in September that the CPEC projects will be extended to the western areas of Pakistan, which included Balochistan. The CPEC is the flagship project of the multi-billion dollar BRI, a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects

Different voices coming from Pak on CPEC: China

Pakistan's new government has decided to open talks on financial assistance with the International Monetary Fund amid a mounting balance of payments crisis, the finance minister told local television on Monday.

"Today, it was decided that we should start talks with IMF” Finance Minister Asad Umar told GEO TV in an interview on Monday night.

He said the talks would be held "so that such a programme, a stabilisation, a recovery programme, on which basis we could overcome this financial crisis".

The country's foreign currency reserves dropped by $627 million in late September to $8.4 billion, barely enough to cover sovereign debt payments due through the end of the year.

Pakistan's new government has decided to open talks on financial assistance with the International Monetary Fund amid a mounting balance of payments crisis, the finance minister told local television on Monday.

Pakistan's new government has decided to open talks on financial assistance with the International Monetary Fund amid a mounting balance of payments crisis, the finance minister told local television on Monday. "Today, it was decided that we should start talks with IMF” Finance Minister Asad Umar told GEO TV in an interview on Monday night. He said the talks would be held "so that such a programme, a stabilisation, a recovery programme, on which basis we could overcome this financial crisis". The country's foreign currency reserves dropped by $627 million in late September to $8.4 billion, barely enough to cover sovereign debt payments due through the end of the year.

Pak's Imran Khan government to hold talks with IMF for financial assistance

Pakistani Prime Minister Imran Khan on Sunday promised a new law that will reward whistleblowers who help nab corrupt officials and politicians.

Khan's Pakistan Tehreek-e-Insaf party won the July election campaigning on an anti-corruption reformist agenda and has blamed the country's economic woes on the alleged corrupt practices of his predecessors.

With Pakistan facing a balance-of-payments crisis, Khan said recovering that stolen wealth would help ease the burden on the country's economy.

He has claimed that billions of dollars of public money have been stolen over the last few decades, much of it laundered out of the country.

"The law will invite countrymen to identify the corrupt and (whistleblowers will) get 20 per cent of the ill-gotten money and assets recovered from such people," Khan told a press conference in the eastern city of Lahore.

The other 80 per cent would be used to pay off Pakistan's debts, he said.

Khan did not give any further details but said a draft of the law will be presented in parliament in the coming days and will include protections for whistleblowers.

Pakistan's budget deficit has climbed steadily over the last five years, and foreign currency reserves have declined.

The rupee has also been repeatedly devalued in the past year, fuelling inflation.

Islamabad is likely to seek a bailout from the International Monetary Fund, which has called on the new government to act fast to stabilise Pakistan's teetering economy, warning growth will likely slow and inflation rise further.

Khan's predecessor Nawaz Sharif was ousted from office last year by the Supreme Court over alleged corruption and is currently on bail pending appeal.

His brother Shehbaz Sharif, the current Pakistan opposition leader, was arrested on Friday for graft -- a move described as politically motivated by the brothers' Pakistan Muslim League Nawaz (PML-N) party, ahead of by-elections later this month.&nbsp; 
&nbsp;

Pakistani Prime Minister Imran Khan on Sunday promised a new law that will reward whistleblowers who help nab corrupt officials and politicians. Khan's Pakistan Tehreek-e-Insaf party won the July election campaigning on an anti-corruption reformist agenda and has blamed the country's economic woes on the alleged corrupt practices of his predecessors.

Pakistani Prime Minister Imran Khan on Sunday promised a new law that will reward whistleblowers who help nab corrupt officials and politicians. Khan's Pakistan Tehreek-e-Insaf party won the July election campaigning on an anti-corruption reformist agenda and has blamed the country's economic woes on the alleged corrupt practices of his predecessors. With Pakistan facing a balance-of-payments crisis, Khan said recovering that stolen wealth would help ease the burden on the country's economy. He has claimed that billions of dollars of public money have been stolen over the last few decades, much of it laundered out of the country. "The law will invite countrymen to identify the corrupt and (whistleblowers will) get 20 per cent of the ill-gotten money and assets recovered from such people," Khan told a press conference in the eastern city of Lahore. The other 80 per cent would be used to pay off Pakistan's debts, he said. Khan did not give any further details but said a draft of the law will be presented in parliament in the coming days and will include protections for whistleblowers. Pakistan's budget deficit has climbed steadily over the last five years, and foreign currency reserves have declined. The rupee has also been repeatedly devalued in the past year, fuelling inflation. Islamabad is likely to seek a bailout from the International Monetary Fund, which has called on the new government to act fast to stabilise Pakistan's teetering economy, warning growth will likely slow and inflation rise further. Khan's predecessor Nawaz Sharif was ousted from office last year by the Supreme Court over alleged corruption and is currently on bail pending appeal. His brother Shehbaz Sharif, the current Pakistan opposition leader, was arrested on Friday for graft -- a move described as politically motivated by the brothers' Pakistan Muslim League Nawaz (PML-N) party, ahead of by-elections later this month.

Pakistan PM promises 'whistleblower' law to fight corruption

China on Monday reacted guardedly to Saudi Arabia's plan to invest in Pakistan, saying it is a "positive factor" if any other party would like to contribute to promote the inter-connectivity and prosperity of the region on the basis of consultation.

After the recent visit of Pakistan Prime Minister Imran Khan to Saudi Arabia, it was announced that Riyadh will be the third "strategic partner" of $ 50 billion China Pakistan Economic Corridor (CPEC).

The CPEC is the flagship project of the multi-billion dollar Belt and Road Initiative (BRI), a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects.

However, Islamabad later clarified that the Saudi Arabian investments will not be under the CPEC, which will remain a bilateral project between China and Pakistan.

Asked about China's reaction to Saudi Arabia's investments in Pakistan, Chinese Foreign Ministry spokesman Lu Kang told a media briefing that "the CPEC is an important project under the Belt and Road Initiative (BRI)".

He said BRI projects followed wide consultations and shared benefits.

"So such cooperation has always been open and transparent. If any other party would like to contribute positive factors to promote the inter-connectivity and prosperity of the region on the basis of consultation, I think this is a positive factor," Lu said.

India has opposed the CPEC project and protested to China as it is being laid through Pakistan-occupied Kashmir.

The invitation to Saudi Arabia to take part in the CPEC sparked concerns that it might upset Iran, a strategic rival of Riyadh.

An article in Hong Kong-based South China Morning Post said Pakistan is risking China's anger by courting Saudi Arabia.

"Pakistan's decision to invite Saudi Arabia to develop a massive refinery complex at Gwadar (port) certainly suggests that the CPEC is being manipulated to serve ends other than China's," the article said.

Balochistan province, where Gwadar is located, borders Iran.

"Riyadh must be salivating at the prospect of setting up a strategic oil reserve 120 km from Pakistan's border with Iran. Tehran, on the other hand, would be foaming at the mouth at this brazen attempt to undermine its flailing economy," the article said.

On Sunday, Khan said Pakistan is reviewing the projects under the CPEC to safeguard the interest of the people in Balochistan province.

Khan in the past had criticised former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects.

He said that Balochistan had a number of reservations about the mega project.

"Balochistan will get its due share, whatever it may be, in the CPEC," he was quoted as saying by Dawn news.

China had announced after the visit of Foreign Minister Wang Yi to Pakistan in September that the CPEC projects will be extended to western areas of Pakistan, which included Balochistan.&nbsp;

China on Monday reacted guardedly to Saudi Arabia's plan to invest in Pakistan, saying it is a "positive factor" if any other party would like to contribute to promote the inter-connectivity and prosperity of the region on the basis of consultation.

China on Monday reacted guardedly to Saudi Arabia's plan to invest in Pakistan, saying it is a "positive factor" if any other party would like to contribute to promote the inter-connectivity and prosperity of the region on the basis of consultation. After the recent visit of Pakistan Prime Minister Imran Khan to Saudi Arabia, it was announced that Riyadh will be the third "strategic partner" of $ 50 billion China Pakistan Economic Corridor (CPEC). The CPEC is the flagship project of the multi-billion dollar Belt and Road Initiative (BRI), a pet project of President Xi Jinping aimed at enhancing China's influence around the world through China-funded infrastructure projects. However, Islamabad later clarified that the Saudi Arabian investments will not be under the CPEC, which will remain a bilateral project between China and Pakistan. Asked about China's reaction to Saudi Arabia's investments in Pakistan, Chinese Foreign Ministry spokesman Lu Kang told a media briefing that "the CPEC is an important project under the Belt and Road Initiative (BRI)". He said BRI projects followed wide consultations and shared benefits. "So such cooperation has always been open and transparent. If any other party would like to contribute positive factors to promote the inter-connectivity and prosperity of the region on the basis of consultation, I think this is a positive factor," Lu said. India has opposed the CPEC project and protested to China as it is being laid through Pakistan-occupied Kashmir. The invitation to Saudi Arabia to take part in the CPEC sparked concerns that it might upset Iran, a strategic rival of Riyadh. An article in Hong Kong-based South China Morning Post said Pakistan is risking China's anger by courting Saudi Arabia. "Pakistan's decision to invite Saudi Arabia to develop a massive refinery complex at Gwadar (port) certainly suggests that the CPEC is being manipulated to serve ends other than China's," the article said. Balochistan province, where Gwadar is located, borders Iran. "Riyadh must be salivating at the prospect of setting up a strategic oil reserve 120 km from Pakistan's border with Iran. Tehran, on the other hand, would be foaming at the mouth at this brazen attempt to undermine its flailing economy," the article said. On Sunday, Khan said Pakistan is reviewing the projects under the CPEC to safeguard the interest of the people in Balochistan province. Khan in the past had criticised former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects. He said that Balochistan had a number of reservations about the mega project. "Balochistan will get its due share, whatever it may be, in the CPEC," he was quoted as saying by Dawn news. China had announced after the visit of Foreign Minister Wang Yi to Pakistan in September that the CPEC projects will be extended to western areas of Pakistan, which included Balochistan.

Saudi Arabia's plan to invest in Pak a 'positive factor': China

<a href="http://www.wionews.com/south-asia/due-to-policies-of-bjp-indo-pak-negotiations-havent-been-taking-place-pak-foreign-minister-qureshi-170258">Due to policies of BJP, Indo-Pak negotiations haven't been taking place: Pak foreign minister Qureshi</a>

Pakistan's foreign minister Shah Mehmood Qureshi today said today that India is "trying its best" that the negotiations don't take place between the two countries.

Accusing India of opposing third-party intervention in J&amp;K, Qureshi said: "There haven't been any talks since 2015 and India is shying away from it."

<a href="http://www.wionews.com/world/us-duo-william-nordhaus-paul-romer-win-nobel-prize-in-economics-170221">US duo William Nordhaus, Paul Romer win Nobel Prize in Economics</a>

Two Americans William Nordhaus and Paul Romer have won the Nobel Prize in Economics this year.

The economists were awarded the Sveriges Riksbank prize for finding answers on how to create long-term sustainable economic growth, the Swedish Nobel society said.

<a href="http://www.wionews.com/india-news/anti-terror-squad-nabs-person-working-in-brahmos-aerospace-unit-170215">Anti-terror squad nabs DRDO official working in BrahMos Aerospace unit on spying charge</a>

A suspected Inter-Services Intelligence (ISI) agent in Maharashtra's Nagpur has been arrested by Uttar Pradesh Anti-Terror squad on Monday for allegedly spying and leaking technical information from BrahMos Aerospace missile unit.

<a href="http://www.wionews.com/south-asia/swachh-pak-pm-imran-launches-nationwide-cleanliness-drive-170237">'Swachh' Pak? PM Imran launches nationwide cleanliness drive</a>

PM Imran Khan today launched a nationwide cleanliness drive in Pakistan on the lines PM Modi's "Swachh Bharat" campaign.

Water pollution is present in several parts of the country, the Pakistan PM said while launching the cleanliness programme.

<a href="http://www.wionews.com/sports/this-the-price-pakistans-shoaib-akhtar-paid-for-calling-himself-don-of-cricket-170235">This is the </a><a href="http://www.wionews.com/sports/this-the-price-pakistans-shoaib-akhtar-paid-for-calling-himself-don-of-cricket-170235">price</a><a href="http://www.wionews.com/sports/this-the-price-pakistans-shoaib-akhtar-paid-for-calling-himself-don-of-cricket-170235"> Pakistan's Shoaib Akhtar paid for calling himself 'Don of Cricket'</a>

During his playing days, Shoaib Akhtar spearheaded Pakistan's fiery bowling attack and was fondly known as the ‘Rawalpindi Express’. &nbsp;

Apart from a few players, every batsman would just succumb to his pace attack.&nbsp;

Due to policies of BJP, Indo-Pak negotiations haven't been taking place: Pak foreign minister Qureshi Pakistan's foreign minister Shah Mehmood Qureshi today said today that India is "trying its best" that the negotiations don't take place between the two countries.

Due to policies of BJP, Indo-Pak negotiations haven't been taking place: Pak foreign minister Qureshi Pakistan's foreign minister Shah Mehmood Qureshi today said today that India is "trying its best" that the negotiations don't take place between the two countries. Accusing India of opposing third-party intervention in J&K, Qureshi said: "There haven't been any talks since 2015 and India is shying away from it." US duo William Nordhaus, Paul Romer win Nobel Prize in Economics Two Americans William Nordhaus and Paul Romer have won the Nobel Prize in Economics this year. The economists were awarded the Sveriges Riksbank prize for finding answers on how to create long-term sustainable economic growth, the Swedish Nobel society said. Anti-terror squad nabs DRDO official working in BrahMos Aerospace unit on spying charge A suspected Inter-Services Intelligence (ISI) agent in Maharashtra's Nagpur has been arrested by Uttar Pradesh Anti-Terror squad on Monday for allegedly spying and leaking technical information from BrahMos Aerospace missile unit. 'Swachh' Pak? PM Imran launches nationwide cleanliness drive PM Imran Khan today launched a nationwide cleanliness drive in Pakistan on the lines PM Modi's "Swachh Bharat" campaign. Water pollution is present in several parts of the country, the Pakistan PM said while launching the cleanliness programme. This is the price Pakistan's Shoaib Akhtar paid for calling himself 'Don of Cricket' During his playing days, Shoaib Akhtar spearheaded Pakistan's fiery bowling attack and was fondly known as the ‘Rawalpindi Express’. Apart from a few players, every batsman would just succumb to his pace attack.

News brief: Big stories of the day

Pakistan is reviewing the projects under the China-Pakistan Economic Corridor (CPEC) to safeguard the interest of the people in Balochistan province, Prime Minister Imran Khan has said.

The USD 50 billion CPEC, launched in 2015, is a planned network of roads, railways and energy projects linking China's resource-rich Xinjiang Uyghur Autonomous Region with Pakistan's strategic Gwadar Port on the Arabian Sea.&nbsp;

Khan's remarks about the CPEC projects came as he chaired a Balochistan cabinet meeting on Saturday in Quetta during his first visit to the province as the prime minister.

Khan in the past had criticized former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects.

Khan said the CPEC projects are being reviewed to address concerns and reservations of the Baloch people, who say the projects are not beneficial for them.

Successive Baluchistan governments have also raised objections over the CPEC projects in the province.

Khan said he was aware about the reservations about the Baloch people about the CPEC projects.

"Baluchistan will get its due share, whatever it may be, in the CPEC," he said.

He said, unfortunately, the province had been ignored by the previous governments.

Since Khan's Pakistan Tehreek-e-Insaf party-led government took charge, there have been several occasions where it has backtracked on statements on the CPEC.

In September, a British financial daily had said that Pakistan was planning review deals concluded under Beijing's Belt (BRI) and Road Initiative. The CPEC is also the part of Chinese President Xi Jinping's ambitious BRI.

Both China and Pakistan have denied reports of differences over the project. Balochistan, where many CPEC projects are being carried out, remains a flashpoint, with separatists carrying out a campaign against security forces and government installations.

&nbsp;The province has also been hit hard by sectarian violence against the Hazara Shia Muslim community and attacks by terror outfits close to the border with Afghanistan and Iran.

Pakistan is reviewing the projects under the China-Pakistan Economic Corridor (CPEC) to safeguard the interest of the people in Balochistan province, Prime Minister Imran Khan has said.

Pakistan is reviewing the projects under the China-Pakistan Economic Corridor (CPEC) to safeguard the interest of the people in Balochistan province, Prime Minister Imran Khan has said. The USD 50 billion CPEC, launched in 2015, is a planned network of roads, railways and energy projects linking China's resource-rich Xinjiang Uyghur Autonomous Region with Pakistan's strategic Gwadar Port on the Arabian Sea. Khan's remarks about the CPEC projects came as he chaired a Balochistan cabinet meeting on Saturday in Quetta during his first visit to the province as the prime minister. Khan in the past had criticized former prime minister Nawaz Sharif for the lack of transparency and corruption in the CPEC projects. Khan said the CPEC projects are being reviewed to address concerns and reservations of the Baloch people, who say the projects are not beneficial for them. Successive Baluchistan governments have also raised objections over the CPEC projects in the province. Khan said he was aware about the reservations about the Baloch people about the CPEC projects. "Baluchistan will get its due share, whatever it may be, in the CPEC," he said. He said, unfortunately, the province had been ignored by the previous governments. Since Khan's Pakistan Tehreek-e-Insaf party-led government took charge, there have been several occasions where it has backtracked on statements on the CPEC. In September, a British financial daily had said that Pakistan was planning review deals concluded under Beijing's Belt (BRI) and Road Initiative. The CPEC is also the part of Chinese President Xi Jinping's ambitious BRI. Both China and Pakistan have denied reports of differences over the project. Balochistan, where many CPEC projects are being carried out, remains a flashpoint, with separatists carrying out a campaign against security forces and government installations. The province has also been hit hard by sectarian violence against the Hazara Shia Muslim community and attacks by terror outfits close to the border with Afghanistan and Iran.

Review of CPEC projects underway: Pak PM Imran Khan

The International Monetary Fund (IMF) warned on Friday that Pakistan needs to quickly secure "significant external financing" to stave off a foreign currency crisis, though it did not suggest who could supply the money.&nbsp;

The IMF, also said more action is needed to stabilise the economy while praising steps taken in the past year.

The statements came a day after an IMF team wrapped up an official visit to Pakistan.&nbsp;

The new government of Prime Minister Imran Khan has been reluctant to ask the IMF for a second bailout in five years.

But foreign reserves dropped by $627 million last week to $8.4 billion, barely enough to cover sovereign debt payments due through the end of the year. Last week`s fall was the sharpest in years.

Finance Minister Asad Umar has said foreign reserves need to be boosted by at least $8 billion, but so far none of its allies including China and Saudi Arabia have offered such a large sum despite high-level visits from officials of both.

Friday`s IMF statement on Friday did not use the word "bailout" but made clear Pakistan needs to find some source of outside cash influx soon.

"Decisive policy action and significant external financing will be needed to stabilise the economy," the statement said, quoting delegation leader Harald Finger as saying that both are required "in the near term".

Many economists believe Pakistan eventually will have no choice but to go back to the IMF.&nbsp;

However, as the world`s last-resort lender, the IMF places strict conditions on aid, pushing for cuts in government budget deficits. This would make it difficult for Khan to fulfil his campaign promises for an "Islamic welfare state".

The IMF urged Khan`s government expand reform measures taken in the past year. The past measures include raising interest rates by 275 basis points and have the rupee depreciation by about 20 per cent since December.

The lender said and controls on the rupee devaluation should be loosened and interest rates raised further as well as closing the fiscal deficit.

The lender said there should be "more exchange-rate flexibility" and further increases in interest rates. There is also a need to reduce the fiscal deficit, it said.

"Recent policy measures are steps in the right direction, but not yet sufficient," the IMF statement said.

The International Monetary Fund (IMF) warned on Friday that Pakistan needs to quickly secure "significant external financing" to stave off a foreign currency crisis, though it did not suggest who could supply the money.

The International Monetary Fund (IMF) warned on Friday that Pakistan needs to quickly secure "significant external financing" to stave off a foreign currency crisis, though it did not suggest who could supply the money. The IMF, also said more action is needed to stabilise the economy while praising steps taken in the past year. The statements came a day after an IMF team wrapped up an official visit to Pakistan. The new government of Prime Minister Imran Khan has been reluctant to ask the IMF for a second bailout in five years. But foreign reserves dropped by $627 million last week to $8.4 billion, barely enough to cover sovereign debt payments due through the end of the year. Last week`s fall was the sharpest in years. Finance Minister Asad Umar has said foreign reserves need to be boosted by at least $8 billion, but so far none of its allies including China and Saudi Arabia have offered such a large sum despite high-level visits from officials of both. Friday`s IMF statement on Friday did not use the word "bailout" but made clear Pakistan needs to find some source of outside cash influx soon. "Decisive policy action and significant external financing will be needed to stabilise the economy," the statement said, quoting delegation leader Harald Finger as saying that both are required "in the near term". Many economists believe Pakistan eventually will have no choice but to go back to the IMF. However, as the world`s last-resort lender, the IMF places strict conditions on aid, pushing for cuts in government budget deficits. This would make it difficult for Khan to fulfil his campaign promises for an "Islamic welfare state". The IMF urged Khan`s government expand reform measures taken in the past year. The past measures include raising interest rates by 275 basis points and have the rupee depreciation by about 20 per cent since December. The lender said and controls on the rupee devaluation should be loosened and interest rates raised further as well as closing the fiscal deficit. The lender said there should be "more exchange-rate flexibility" and further increases in interest rates. There is also a need to reduce the fiscal deficit, it said. "Recent policy measures are steps in the right direction, but not yet sufficient," the IMF statement said.

Pakistan needs to secure 'significant external financing': IMF

Pakistan Supreme Court Chief Justice Saqib Nisar Friday asked authorities to first initiate action against Prime Minister Imran Khan's sprawling Bani Gala residence as he heard a case on illegal constructions in the federal capital's suburb, according to a media report.

Justice Nisar said that the Capital Development Authority (CDA) should first act against Khan's Bani Gala residence, days after he asked the cricketer-turned-politician to first pay fine to reguralise his property.

Khan had sought the court's attention towards the large-scale encroachment, unchecked and unplanned construction in Bani Gala, massive denuding due to massive tree felling and pollution of the Rawal Lake due to sewage.

During the hearing, the full bench headed by Justice Nisar said Prime Minister Khan should be the first person to take steps towards regularisation of his property in order for others to follow his example, the Express Tribune reported.

The premier's counsel, Babar Awan, replied they will cooperate with the CDA to resolve this issue.

Justice Nisar asked how they were planning to cooperate and what documents are they planning to take to the development authority.

A report by Survey of Pakistan regarding encroachment in Bani Gala was submitted during the hearing on Monday, to which Justice Nisar remarked that whoever illegally constructed buildings in the area will be subject to a fine.

The apex court on October 1 observed that it is the job of the Pakistan Tehreek-e-Insaf-led (PTI) government of Khan to regularise all properties located in the Bani Gala area, including his private residence. 
Khan's colonial-style house in Bani Gala reportedly has five bedrooms.&nbsp;

Recalling that it was Khan himself who had approached the apex court with an application regarding illegal constructions in Bani Gala, Chief Justice Nisar said the prime minister would have to initiate the process of regularisation of the area by paying the required fine.

"Imran Khan should submit fees towards regularisation before anyone else," directed Justice Nisar said on Monday.

Pakistan Supreme Court Chief Justice Saqib Nisar Friday asked authorities to first initiate action against Prime Minister Imran Khan's sprawling Bani Gala residence as he heard a case on illegal constructions in the federal capital's suburb, according to a media report.

Pakistan Supreme Court Chief Justice Saqib Nisar Friday asked authorities to first initiate action against Prime Minister Imran Khan's sprawling Bani Gala residence as he heard a case on illegal constructions in the federal capital's suburb, according to a media report. Justice Nisar said that the Capital Development Authority (CDA) should first act against Khan's Bani Gala residence, days after he asked the cricketer-turned-politician to first pay fine to reguralise his property. Khan had sought the court's attention towards the large-scale encroachment, unchecked and unplanned construction in Bani Gala, massive denuding due to massive tree felling and pollution of the Rawal Lake due to sewage. During the hearing, the full bench headed by Justice Nisar said Prime Minister Khan should be the first person to take steps towards regularisation of his property in order for others to follow his example, the Express Tribune reported. The premier's counsel, Babar Awan, replied they will cooperate with the CDA to resolve this issue. Justice Nisar asked how they were planning to cooperate and what documents are they planning to take to the development authority. A report by Survey of Pakistan regarding encroachment in Bani Gala was submitted during the hearing on Monday, to which Justice Nisar remarked that whoever illegally constructed buildings in the area will be subject to a fine. The apex court on October 1 observed that it is the job of the Pakistan Tehreek-e-Insaf-led (PTI) government of Khan to regularise all properties located in the Bani Gala area, including his private residence. Khan's colonial-style house in Bani Gala reportedly has five bedrooms. Recalling that it was Khan himself who had approached the apex court with an application regarding illegal constructions in Bani Gala, Chief Justice Nisar said the prime minister would have to initiate the process of regularisation of the area by paying the required fine. "Imran Khan should submit fees towards regularisation before anyone else," directed Justice Nisar said on Monday.

First take action against PM Imran Khan's private residence in Bani Gala: Pak SC

Pakistan Prime Minister Imran Khan is expected to make his first official visit to China next month, his foreign minister&nbsp;Shah Mahmood Qureshi said.

Khan's visit to China has come amid reports hinting that the new government has a growing uneasiness with the ambitious China project.

A recent report had stated that the <a href="http://www.wionews.com/south-asia/pakistan-government-likely-to-review-cpec-deals-165016">Pak government was trying the review the agreements</a> made under the China-Pakistan Economic Corridor (CPEC) project. It further added that Khan had also formed a nine-member committee to analyse the project.

Meanwhile,&nbsp;Pakistan's Foreign Minister Shah Mahmood Qureshi said in an interview in Washington that the US $50 billion China Pakistan Economic Corridor (CPEC) is a game changer for Pakistan and has taken off.

Pakistan, he said, wants an early completing of these projects and is in talks with the Chinese on how to focus on areas that are important to the new government.

"Hopefully next month in November the prime minister would be making his first official visit to China to discuss this further," Qureshi told a Washington audience when he was asked about reports of changes in the ambitious CPEC projects.

"Obviously infrastructure is required. We need roads and rail links, optic fibers and everything of that sort. We want them to help us in areas like industrial development, enhancing agriculture productivity, helping us alleviate poverty in the country," he said to a question at the US Institute of Peace.

Qureshi said the Khan government is talking about how to improve lives and livelihoods, how labour-intensive industry can be relocated into Pakistan and give jobs.

"So that is an ongoing discussion and hopefully next month in November, the prime minister would be taking his first official visit to China to discuss this further," the top Pakistani diplomat said.

When asked about increasing relationship between Pakistan and China, Qureshi said this is not at the cost of the ties with the US.&nbsp;

"US was, is and will remain an important global player. You are a technological, economic and military power. We recognise that. There's a history of our relationship. Let's not forget that," he said.

Noting that currently there are challenges in the US- Chinese relationship, Qureshi argued that Beijing can play an important constructive role with regard to Afghanistan and peace in the region.

"I am of the view and Pakistan is of the view that China can play a constructive role and China must be engaged. China has initiated a trilateral meeting.

&nbsp;They had one in Beijing and next month in December we might have the second round in Kabul," he said.

Pakistan is currently reeling from a huge financial crisis. The new government is planning to approach the International Monetary Fund (IMF) for its 13th bailout in the last three decades, as the Pakistani rupee continues to weaken further in a volatile global financial market.

(With inputs from agencies)

Pakistan Prime Minister Imran Khan is expected to make his first official visit to China next month, his foreign minister Shah Mahmood Qureshi said. Khan's visit to China has come amid reports hinting that the new government has a growing uneasiness with the ambitious China project.

Pakistan Prime Minister Imran Khan is expected to make his first official visit to China next month, his foreign minister Shah Mahmood Qureshi said. Khan's visit to China has come amid reports hinting that the new government has a growing uneasiness with the ambitious China project. A recent report had stated that the Pak government was trying the review the agreements made under the China-Pakistan Economic Corridor (CPEC) project. It further added that Khan had also formed a nine-member committee to analyse the project. Meanwhile, Pakistan's Foreign Minister Shah Mahmood Qureshi said in an interview in Washington that the US $50 billion China Pakistan Economic Corridor (CPEC) is a game changer for Pakistan and has taken off. Pakistan, he said, wants an early completing of these projects and is in talks with the Chinese on how to focus on areas that are important to the new government. "Hopefully next month in November the prime minister would be making his first official visit to China to discuss this further," Qureshi told a Washington audience when he was asked about reports of changes in the ambitious CPEC projects. "Obviously infrastructure is required. We need roads and rail links, optic fibers and everything of that sort. We want them to help us in areas like industrial development, enhancing agriculture productivity, helping us alleviate poverty in the country," he said to a question at the US Institute of Peace. Qureshi said the Khan government is talking about how to improve lives and livelihoods, how labour-intensive industry can be relocated into Pakistan and give jobs. "So that is an ongoing discussion and hopefully next month in November, the prime minister would be taking his first official visit to China to discuss this further," the top Pakistani diplomat said. When asked about increasing relationship between Pakistan and China, Qureshi said this is not at the cost of the ties with the US. "US was, is and will remain an important global player. You are a technological, economic and military power. We recognise that. There's a history of our relationship. Let's not forget that," he said. Noting that currently there are challenges in the US- Chinese relationship, Qureshi argued that Beijing can play an important constructive role with regard to Afghanistan and peace in the region. "I am of the view and Pakistan is of the view that China can play a constructive role and China must be engaged. China has initiated a trilateral meeting. They had one in Beijing and next month in December we might have the second round in Kabul," he said. Pakistan is currently reeling from a huge financial crisis. The new government is planning to approach the International Monetary Fund (IMF) for its 13th bailout in the last three decades, as the Pakistani rupee continues to weaken further in a volatile global financial market. (With inputs from agencies)

Pakistan PM Imran Khan to visit China in November

The United States is yet to see reports on Pakistan's readiness to discuss Dr Shakil Afridi's release from jail. Afridi, who helped US's Central Investigation Agency (CIA) in tracking down Osama bin Laden, is considered a CIA hero.

However, back home, Dr Afridi has been branded as a traitor and was sent behind bars by the Pakistani regime. Pakistan Foreign Minister Shah Mehmood Qureshi had recently told Fox News that Islamabad is open to talks about his release from jail.

Reacting to the statement, State Department spokesperson Heather Nauert said, "Yeah, I think they've been saying that for quite some time that there could be some movement on that. We have yet to see that."

Nauert also spoke about Secretary of State Mike Pompeo's meeting with Qureshi on Tuesday, "I can confirm with you that the Secretary did meet with his counterpart at the State Department today. I'm not sure exactly when that was. It was sometime this afternoon. I don't have a readout of that meeting just yet. If I have one to bring for you, provide to you, I certainly will. But we had a good trip when the Secretary (Mike Pompeo) went to Pakistan and had good, fruitful meetings with the Pakistani Government."

Commenting on Dr Afridi's fate, Qureshi had told Fox News, "Openings are always there. He is viewed in a particular light in Pakistan; he is viewed as a traitor in Pakistan. But he is viewed as a friend in the US. So we have to bridge this gap."

He asserted that courts will decide Afridi's fate and not politics."We have a legal process. Afridi went through that legal process, he was given a fair chance to plead his case.

He was sentenced, he was convicted and is serving a sentence. We expect you to respect our legal process, as we respect yours," Qureshi added.

Afridi, who has been awarded a 33-year sentence in 2012, is believed to have committed treason by working with CIA, after running a fake vaccine programme, which helped the agency to confirm Osama's presence in Abbottabad.

However, he was convicted on the pretext of having ties with a terrorist group called Lashkar e-Islam. His lawyers have denied the claims of his ties with the terrorist outfit by calling them bogus.

Even before being elected as the US President last year, Donald Trump had promised to facilitate Dr Afridi`s release.

The United States is yet to see reports on Pakistan's readiness to discuss Dr Shakil Afridi's release from jail. Afridi, who helped US's Central Investigation Agency (CIA) in tracking down Osama bin Laden, is considered a CIA hero.

The United States is yet to see reports on Pakistan's readiness to discuss Dr Shakil Afridi's release from jail. Afridi, who helped US's Central Investigation Agency (CIA) in tracking down Osama bin Laden, is considered a CIA hero. However, back home, Dr Afridi has been branded as a traitor and was sent behind bars by the Pakistani regime. Pakistan Foreign Minister Shah Mehmood Qureshi had recently told Fox News that Islamabad is open to talks about his release from jail. Reacting to the statement, State Department spokesperson Heather Nauert said, "Yeah, I think they've been saying that for quite some time that there could be some movement on that. We have yet to see that." Nauert also spoke about Secretary of State Mike Pompeo's meeting with Qureshi on Tuesday, "I can confirm with you that the Secretary did meet with his counterpart at the State Department today. I'm not sure exactly when that was. It was sometime this afternoon. I don't have a readout of that meeting just yet. If I have one to bring for you, provide to you, I certainly will. But we had a good trip when the Secretary (Mike Pompeo) went to Pakistan and had good, fruitful meetings with the Pakistani Government." Commenting on Dr Afridi's fate, Qureshi had told Fox News, "Openings are always there. He is viewed in a particular light in Pakistan; he is viewed as a traitor in Pakistan. But he is viewed as a friend in the US. So we have to bridge this gap." He asserted that courts will decide Afridi's fate and not politics."We have a legal process. Afridi went through that legal process, he was given a fair chance to plead his case. He was sentenced, he was convicted and is serving a sentence. We expect you to respect our legal process, as we respect yours," Qureshi added. Afridi, who has been awarded a 33-year sentence in 2012, is believed to have committed treason by working with CIA, after running a fake vaccine programme, which helped the agency to confirm Osama's presence in Abbottabad. However, he was convicted on the pretext of having ties with a terrorist group called Lashkar e-Islam. His lawyers have denied the claims of his ties with the terrorist outfit by calling them bogus. Even before being elected as the US President last year, Donald Trump had promised to facilitate Dr Afridi`s release.

US yet to see reports on Pakistan's willingness to release Dr Afridi

Pakistan has permitted an export of 150 falcons to the United Arab Emirates despite the ban on hunting of rare and migratory birds; Pakistani media reported.

According to local media reports, falcons are being exported to UAE's Vice President Sheikh Mohammed bin Rashid al-Maktoum.

“The esteemed Embassy may export 150 falcons from Pakistan to UAE, for personal use of His Highness Sheikh Muhammad Bin Rashid Al Maktoum,” the letter sent to UAE embassy dated September 27 stated.

The letter further said that the falcons can be exported from Karachi airport.

Pakistan has completely banned the hunting of the endangered birds. Prime Minister Imran Khan&nbsp;has also banned the hunting of falcons in Khyber Pakhtunkhwa.&nbsp;

Hunting migratory birds including Houbara -- another vulnerable species in Pakistan -- and falcons is the hobby of Arab princes. Every year falcons flock to Pakistan along Sindh's coastal belt and the desert area in summers to avoid winter in Siberia. With this, the federal government invites Arab dignitaries to hunt these birds as a sport every year.&nbsp;

Though the country has placed a complete ban on the hunting of such rare birds but, every year special licenses are issued to invite Arab dignitaries to hunt these migratory birds.&nbsp;

Meanwhile, Pakistan Peoples Party leader Faisal Karim Kundi said the move is ''illegal''.

"Will these 150 falcons be bought from hunters and smugglers?" he asked while criticising the government over permission to export.&nbsp;

Pakistan has permitted an export of 150 falcons to the United Arab Emirates despite the ban on hunting of rare and migratory birds; Pakistani media reported. According to local media reports, falcons are being exported to UAE's Vice President Sheikh Mohammed bin Rashid al-Maktoum.

Pakistan has permitted an export of 150 falcons to the United Arab Emirates despite the ban on hunting of rare and migratory birds; Pakistani media reported. According to local media reports, falcons are being exported to UAE's Vice President Sheikh Mohammed bin Rashid al-Maktoum. “The esteemed Embassy may export 150 falcons from Pakistan to UAE, for personal use of His Highness Sheikh Muhammad Bin Rashid Al Maktoum,” the letter sent to UAE embassy dated September 27 stated. The letter further said that the falcons can be exported from Karachi airport. Pakistan has completely banned the hunting of the endangered birds. Prime Minister Imran Khan has also banned the hunting of falcons in Khyber Pakhtunkhwa. Hunting migratory birds including Houbara -- another vulnerable species in Pakistan -- and falcons is the hobby of Arab princes. Every year falcons flock to Pakistan along Sindh's coastal belt and the desert area in summers to avoid winter in Siberia. With this, the federal government invites Arab dignitaries to hunt these birds as a sport every year. Though the country has placed a complete ban on the hunting of such rare birds but, every year special licenses are issued to invite Arab dignitaries to hunt these migratory birds. Meanwhile, Pakistan Peoples Party leader Faisal Karim Kundi said the move is ''illegal''. "Will these 150 falcons be bought from hunters and smugglers?" he asked while criticising the government over permission to export.

Pakistan allows export of 150 falcons to UAE despite hunting ban

There is unlikely to be any changes in America's policy on suspension of aid to Pakistan until it makes substantial progress against terrorists and their safe havens, the Trump administration has told Islamabad as the two countries try to reset their strained ties.

Secretary of State Mike Pompeo and National Security Advisor John Bolton, during their meetings with Pakistan's new Foreign Minister Shah Mahmood Qureshi here, are understood to have told the Pakistani leadership that in its assessment the US does not see any changes on the ground when it comes to taking actions against terrorists operating from its soil.

Given Pakistan's influence over the Taliban, the Trump administration also wants Islamabad to bring them to the peace table.

Notably, the State Department till late in the night had refrained from issuing any readout of the meeting between Qureshi and Pompeo, which is understood to have lasted for 20 minutes at their Foggy Bottom headquarters.

The White House normally does not issue a readout of the meeting that its National Security Advisor has with foreign leaders. Qureshi and Pompeo did appear for a handshake photo op before the meeting, during which they did not issue opening remarks.

According to informed sources familiar with the development, the US side is upset because of Qureshi's faux pas about handshake he had with President Donald Trump during a luncheon in New York, which he described to the media as a meeting.

Meanwhile, in a readout of the meetings, the Embassy of Pakistan in Washington said that Qureshi had a wide range of discussions with both Pompeo and Bolton which included among others bilateral and regional issues.

Qureshi said that close engagement between Pakistan and the US had always been mutually beneficial and a factor for stability in South Asia. He stressed that, going forward, a broad-based and structured framework for dialogue would best serve the two countries' shared interests, the statement said.

Noting that Pakistan and the US share a common desire for peace and stability in Afghanistan and the region at large, Qureshi reiterated Pakistan's support for a political settlement in Afghanistan, saying the use of force had failed to deliver results.

Qureshi told Pompeo that "peace in South Asia, which was a common goal for both the US and Pakistan, would remain elusive until all disputes, including the core dispute of Jammu and Kashmir, are resolved".

Pompeo, according to the embassy statement, said the US looked forward to working with the new government led by Prime Minister Imran Khan in implementing its reform agenda.

"In the context of achieving stability in South Asia, Qureshi briefed his US interlocutor about India's aggressive posturing in the region.

"Qureshi underscored that, on its part, Pakistan remained committed to engaging India in a comprehensive peace dialogue to resolve all outstanding issues including the Jammu and Kashmir dispute," the statement added.

The ties between the two countries strained after Trump, while announcing his Afghanistan and South Asia policy in August last year, hit out at Pakistan for providing safe havens to "agents of chaos" that kill Americans in Afghanistan and warned Islamabad that it has "much to lose" by harbouring terrorists.

Last month, the Trump administration cancelled $ 300 million in military aid to Islamabad for not doing enough against terror groups active on its soil.&nbsp;

There is unlikely to be any changes in America's policy on suspension of aid to Pakistan until it makes substantial progress against terrorists and their safe havens, the Trump administration has told Islamabad as the two countries try to reset their strained ties.

There is unlikely to be any changes in America's policy on suspension of aid to Pakistan until it makes substantial progress against terrorists and their safe havens, the Trump administration has told Islamabad as the two countries try to reset their strained ties. Secretary of State Mike Pompeo and National Security Advisor John Bolton, during their meetings with Pakistan's new Foreign Minister Shah Mahmood Qureshi here, are understood to have told the Pakistani leadership that in its assessment the US does not see any changes on the ground when it comes to taking actions against terrorists operating from its soil. Given Pakistan's influence over the Taliban, the Trump administration also wants Islamabad to bring them to the peace table. Notably, the State Department till late in the night had refrained from issuing any readout of the meeting between Qureshi and Pompeo, which is understood to have lasted for 20 minutes at their Foggy Bottom headquarters. The White House normally does not issue a readout of the meeting that its National Security Advisor has with foreign leaders. Qureshi and Pompeo did appear for a handshake photo op before the meeting, during which they did not issue opening remarks. According to informed sources familiar with the development, the US side is upset because of Qureshi's faux pas about handshake he had with President Donald Trump during a luncheon in New York, which he described to the media as a meeting. Meanwhile, in a readout of the meetings, the Embassy of Pakistan in Washington said that Qureshi had a wide range of discussions with both Pompeo and Bolton which included among others bilateral and regional issues. Qureshi said that close engagement between Pakistan and the US had always been mutually beneficial and a factor for stability in South Asia. He stressed that, going forward, a broad-based and structured framework for dialogue would best serve the two countries' shared interests, the statement said. Noting that Pakistan and the US share a common desire for peace and stability in Afghanistan and the region at large, Qureshi reiterated Pakistan's support for a political settlement in Afghanistan, saying the use of force had failed to deliver results. Qureshi told Pompeo that "peace in South Asia, which was a common goal for both the US and Pakistan, would remain elusive until all disputes, including the core dispute of Jammu and Kashmir, are resolved". Pompeo, according to the embassy statement, said the US looked forward to working with the new government led by Prime Minister Imran Khan in implementing its reform agenda. "In the context of achieving stability in South Asia, Qureshi briefed his US interlocutor about India's aggressive posturing in the region. "Qureshi underscored that, on its part, Pakistan remained committed to engaging India in a comprehensive peace dialogue to resolve all outstanding issues including the Jammu and Kashmir dispute," the statement added. The ties between the two countries strained after Trump, while announcing his Afghanistan and South Asia policy in August last year, hit out at Pakistan for providing safe havens to "agents of chaos" that kill Americans in Afghanistan and warned Islamabad that it has "much to lose" by harbouring terrorists. Last month, the Trump administration cancelled $ 300 million in military aid to Islamabad for not doing enough against terror groups active on its soil.

Trump admin unlikely to change policy on suspension of aid to Pakistan

An anti-corruption court in Pakistan on Tuesday directed authorities to auction the assets and seize the bank accounts of absconding former finance minister Ishaq Dar in a graft case filed against him in the Panama Papers scandal.

The case about owning "assets beyond known means of income" is among four graft cases filed by the National Accountability Bureau (NAB) following the Supreme Court's order of July 28 against Dar and ousted prime minister Nawaz Sharif and his family.

The decision came on an application filed by the NAB, seeking auction of Dar's assets and asking the court to appoint a beneficiary of recovered amount, Dawn newspaper reported.

The court said that the Punjab's provincial government will be responsible for auction. It empowered the provincial government to decide whether to sell or keep the seized assets, the report said.

Judge Mohammad Bashir had reserved the verdict on the application on Monday after the anti-graft watchdog submitted details of Dar's assets.

The NAB had earlier moved the Islamabad-based accountability court for the auction of movable and immovable properties owned by Dar, a close aide of Sharif, as he has been in London since October 2017.

Dar, the father-in-law of Sharif's younger daughter, was already declared as absconder in the corruption case after he went to London in October last year but never came back to face the trial.

The case of asset beyond means was launched against Dar in September 2017 on the orders of Supreme Court after it disqualified Sharif and ordered corruption cases against him, his children Maryam Nawaz, Husain and Hasan and son-in-law (retd) Captain Muhammad Safdar.

The anti-corruption watchdog already seized all of movable and immovable assets of 67-year-old Dar located in Lahore and Islamabad.

According to the case, Dar acquired assets worth Rs 831.7 million, which was disproportionate to the known sources of his income.&nbsp;

The Panama Papers case is about alleged money laundering by Sharif in the 1990s when he twice served as Pakistan's prime minister to purchase assets in London.

An anti-corruption court in Pakistan on Tuesday directed authorities to auction the assets and seize the bank accounts of absconding former finance minister Ishaq Dar in a graft case filed against him in the Panama Papers scandal.

An anti-corruption court in Pakistan on Tuesday directed authorities to auction the assets and seize the bank accounts of absconding former finance minister Ishaq Dar in a graft case filed against him in the Panama Papers scandal. The case about owning "assets beyond known means of income" is among four graft cases filed by the National Accountability Bureau (NAB) following the Supreme Court's order of July 28 against Dar and ousted prime minister Nawaz Sharif and his family. The decision came on an application filed by the NAB, seeking auction of Dar's assets and asking the court to appoint a beneficiary of recovered amount, Dawn newspaper reported. The court said that the Punjab's provincial government will be responsible for auction. It empowered the provincial government to decide whether to sell or keep the seized assets, the report said. Judge Mohammad Bashir had reserved the verdict on the application on Monday after the anti-graft watchdog submitted details of Dar's assets. The NAB had earlier moved the Islamabad-based accountability court for the auction of movable and immovable properties owned by Dar, a close aide of Sharif, as he has been in London since October 2017. Dar, the father-in-law of Sharif's younger daughter, was already declared as absconder in the corruption case after he went to London in October last year but never came back to face the trial. The case of asset beyond means was launched against Dar in September 2017 on the orders of Supreme Court after it disqualified Sharif and ordered corruption cases against him, his children Maryam Nawaz, Husain and Hasan and son-in-law (retd) Captain Muhammad Safdar. The anti-corruption watchdog already seized all of movable and immovable assets of 67-year-old Dar located in Lahore and Islamabad. According to the case, Dar acquired assets worth Rs 831.7 million, which was disproportionate to the known sources of his income. The Panama Papers case is about alleged money laundering by Sharif in the 1990s when he twice served as Pakistan's prime minister to purchase assets in London.

Pakistan court allows auctioning of former finance minister Dar's assets

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