The United States on Friday held China responsible for economic challenges being faced by Pakistan and said that it would review the Pakistan government`s bailout plea from all angles including the position of debt in the country.

According to The News, US State Department spokesperson Heather Nauert during a press conference, said: "We understand that Pakistan has formally requested assistance from the International Monetary Fund (IMF).&nbsp;In all cases, we examine that closely from all angles of it, including Pakistan`s debt position, in evaluating any type of loan programme."

Nauert added, "The secretary 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 may be thought wouldn`t be so tough to bail themselves out of, but has become increasingly tough."

IMF Managing Director Christine Lagarde on Thursday confirmed that Pakistan has formally approached the funding organisation seeking financial assistance to address its economic challenges.&nbsp;

Lagarde met Pakistan's Minister of Finance, Revenue and Economic Affairs Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa and members of their economic team.

"Today, I met with Pakistan's Minister of Finance, Revenue and Economic Affairs Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa and members of their economic team. During the meeting, they requested financial assistance from the IMF to help address Pakistan`s economic challenges," Lagarde revealed in a statement.

Revealing visit of a team of the international body, Lagarde said: "An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic programme. We look forward to our continuing partnership," Lagarde added.

Pakistan`s economy has been in a limbo for long. It was already speculated that Pakistan would have to seek a loan package from IMF following the elections held on July 25.&nbsp;

The United States on Friday held China responsible for economic challenges being faced by Pakistan and said that it would review the Pakistan government`s bailout plea from all angles including the position of debt in the country.

The United States on Friday held China responsible for economic challenges being faced by Pakistan and said that it would review the Pakistan government`s bailout plea from all angles including the position of debt in the country. According to The News, US State Department spokesperson Heather Nauert during a press conference, said: "We understand that Pakistan has formally requested assistance from the International Monetary Fund (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." Nauert added, "The secretary 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 may be thought wouldn`t be so tough to bail themselves out of, but has become increasingly tough." IMF Managing Director Christine Lagarde on Thursday confirmed that Pakistan has formally approached the funding organisation seeking financial assistance to address its economic challenges. Lagarde met Pakistan's Minister of Finance, Revenue and Economic Affairs Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa and members of their economic team. "Today, I met with Pakistan's Minister of Finance, Revenue and Economic Affairs Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa and members of their economic team. During the meeting, they requested financial assistance from the IMF to help address Pakistan`s economic challenges," Lagarde revealed in a statement. Revealing visit of a team of the international body, Lagarde said: "An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic programme. We look forward to our continuing partnership," Lagarde added. Pakistan`s economy has been in a limbo for long. It was already speculated that Pakistan would have to seek a loan package from IMF following the elections held on July 25.

US blames China for economic woes in Pakistan

Before actually formally approaching the International Monetary Fund(IMF) for a bailout, the global governance institute has warned Pakistan against “excessive loans” from China. It is almost a surety that Pakistan will approach the Fund for its variegated economic and financial issues. But, a not too subtle warning has already been issued to the country which has over a period of time drifted to China’s orbit. (This has been couched in a technocratic gloss and verbiage). 
 
The reasons are not too difficult to figure out: the institutions of global governance like the IMF are not merely technocratic institutions designed to maximize peoples welfare or merely to “look after” the global economy; they are institutions where the ingress of ideology( free market capitalism or &nbsp;market fundamentalism) and politics is all too prevalent. 
 
The quota system of the IMF and the voting rights thereof are loaded towards developed and industrialised (or even post-industrial) nations, especially the United States (which has had no qualms in maintaining the status quo from which it benefits). Complemented with the geopolitical heft and clout of the country, &nbsp;the United States’ influence at and in the IMF gives it enormous leverage. 
 
In terms of the ideological flavour of the IMF, it is loaded towards free-market capitalism and the gravamen of its approach towards countries in financial and economic distress is to goad these countries towards this variety of capitalism. The IMF has a “one size fit all” prescription for distressed countries toward this end (Obiter Dictum, Thomas Friedman, the famous and influential columnist of the New York Times, in his best selling book, “ The World is Flat”, essentially in the nature of an irrationally exuberant ode to free-market capitalism inspired globalisation called this “the Golden Straitjacket”).

But, countries that form the international system are neither uniform nor homogenous in terms of their development, economic growth and patterns thereof for a whole host of reasons. So, a “straitjacketed” prescription for all countries or economies is not only impractical but suggests an ideological agenda. This agenda is translated into action through “conditionalities” and “structural reforms” foisted upon economies in distress by the IMF. And, given the voting power discrepancies, there are other political agendas involved as well. The case of Indonesia after the Asian financial crisis in 1997 comes to mind here as an egregious example. More contemporarily, the IMF’s involvement and its role in Greece constitutes another example.

All this is not to demean and denigrate the IMF. This global governance institution is a much-needed one. But the political power embedded in it, its nature and the institutions’ ideological predilections(discredited in and after the 2008 global financial crisis) need urgent reform.

&nbsp;Now, in terms of the instance of Pakistan , whose financing gaps have become enormous over the years, the country has been moving away from the United States and drifting into the Chinese orbit, being a substantive partner in China’s One Belt One Road Initiative’s, (OBOR) corollary, the China Pakistan Economic Corridor(CPEC). If both the OBOR and the CPEC actually fructify, then there will be a recalibration of economic and global power globally which, in turn, will have geopolitical implications and consequences. This might even constitute a challenge to the United States domination of the global economic and financial system, creating another powerful pole in the process. The IMF, in this instance, appears to be used to make a point to Pakistan. There then is politics involved here.

The example of Pakistan and other countries in the past must concentrate the minds of developing and emerging economies which are at a structural disadvantage in many respects vis a vis the developed world. Given the inherent volatility of the world financial system, especially in its more globalised avatar and given that economic fluctuations are part and parcel of the capitalist growth process, emerging and developing economies face vulnerabilities that can perhaps best be mitigated by institutions like the IMF. The institution then is both needed and desirable. But, at the risk of sounding tautological, it needs reform at both conceptual and structural levels.

The world that we inhabit contemporarily is not the same world it was in the seventies. Profound structural transformations have occurred that have both upended and rejigged past paradigms and shibboleths. The developing world, as a group, albeit a differentiated one, no more bears the depredations of post colonialism but has emerged as an entity which can hold its own, in many domains. It cannot and must not be relegated to the margins in institutions of global governance. 
 
Developing countries need an agency and robust representations in institutions of import. One good starting point for this would be a comprehensive and robust reform of the IMF. If and when this happens, it could be a prelude to a more equitable world order. Till then, global governance will reflect and bear the imprimatur of power with developing countries, especially those in distress, suffering in the crucible of and at the altar of power politics.

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Before actually formally approaching the International Monetary Fund(IMF) for a bailout, the global governance institute has warned Pakistan against “excessive loans” from China.

Before actually formally approaching the International Monetary Fund(IMF) for a bailout, the global governance institute has warned Pakistan against “excessive loans” from China. It is almost a surety that Pakistan will approach the Fund for its variegated economic and financial issues. But, a not too subtle warning has already been issued to the country which has over a period of time drifted to China’s orbit. (This has been couched in a technocratic gloss and verbiage). The reasons are not too difficult to figure out: the institutions of global governance like the IMF are not merely technocratic institutions designed to maximize peoples welfare or merely to “look after” the global economy; they are institutions where the ingress of ideology( free market capitalism or market fundamentalism) and politics is all too prevalent. The quota system of the IMF and the voting rights thereof are loaded towards developed and industrialised (or even post-industrial) nations, especially the United States (which has had no qualms in maintaining the status quo from which it benefits). Complemented with the geopolitical heft and clout of the country, the United States’ influence at and in the IMF gives it enormous leverage. In terms of the ideological flavour of the IMF, it is loaded towards free-market capitalism and the gravamen of its approach towards countries in financial and economic distress is to goad these countries towards this variety of capitalism. The IMF has a “one size fit all” prescription for distressed countries toward this end (Obiter Dictum, Thomas Friedman, the famous and influential columnist of the New York Times, in his best selling book, “ The World is Flat”, essentially in the nature of an irrationally exuberant ode to free-market capitalism inspired globalisation called this “the Golden Straitjacket”). But, countries that form the international system are neither uniform nor homogenous in terms of their development, economic growth and patterns thereof for a whole host of reasons. So, a “straitjacketed” prescription for all countries or economies is not only impractical but suggests an ideological agenda. This agenda is translated into action through “conditionalities” and “structural reforms” foisted upon economies in distress by the IMF. And, given the voting power discrepancies, there are other political agendas involved as well. The case of Indonesia after the Asian financial crisis in 1997 comes to mind here as an egregious example. More contemporarily, the IMF’s involvement and its role in Greece constitutes another example. All this is not to demean and denigrate the IMF. This global governance institution is a much-needed one. But the political power embedded in it, its nature and the institutions’ ideological predilections(discredited in and after the 2008 global financial crisis) need urgent reform. Now, in terms of the instance of Pakistan , whose financing gaps have become enormous over the years, the country has been moving away from the United States and drifting into the Chinese orbit, being a substantive partner in China’s One Belt One Road Initiative’s, (OBOR) corollary, the China Pakistan Economic Corridor(CPEC). If both the OBOR and the CPEC actually fructify, then there will be a recalibration of economic and global power globally which, in turn, will have geopolitical implications and consequences. This might even constitute a challenge to the United States domination of the global economic and financial system, creating another powerful pole in the process. The IMF, in this instance, appears to be used to make a point to Pakistan. There then is politics involved here. The example of Pakistan and other countries in the past must concentrate the minds of developing and emerging economies which are at a structural disadvantage in many respects vis a vis the developed world. Given the inherent volatility of the world financial system, especially in its more globalised avatar and given that economic fluctuations are part and parcel of the capitalist growth process, emerging and developing economies face vulnerabilities that can perhaps best be mitigated by institutions like the IMF. The institution then is both needed and desirable. But, at the risk of sounding tautological, it needs reform at both conceptual and structural levels. The world that we inhabit contemporarily is not the same world it was in the seventies. Profound structural transformations have occurred that have both upended and rejigged past paradigms and shibboleths. The developing world, as a group, albeit a differentiated one, no more bears the depredations of post colonialism but has emerged as an entity which can hold its own, in many domains. It cannot and must not be relegated to the margins in institutions of global governance. Developing countries need an agency and robust representations in institutions of import. One good starting point for this would be a comprehensive and robust reform of the IMF. If and when this happens, it could be a prelude to a more equitable world order. Till then, global governance will reflect and bear the imprimatur of power with developing countries, especially those in distress, suffering in the crucible of and at the altar of power politics. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

The reform of the IMF is imperative for an equitable world order

International Monetary Fund (IMF) Managing Director Christine Lagarde on Thursday confirmed that Pakistan has formally approached the IMF seeking financial assistance to address its economic challenges.

Lagarde met Pakistan's Minister of Finance, Revenue and Economic Affairs, Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa and members of their economic team.

"Today, I met with Pakistan's Minister of Finance, Revenue and Economic Affairs Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa and members of their economic team. During the meeting, they requested financial assistance from the IMF to help address Pakistan's economic challenges," Lagarde revealed in a statement.

She further said that an IMF team will visit Islamabad in the coming week to initiate discussions for a possible economic programme.

"An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic programme. We look forward to our continuing partnership," Lagarde added.

Pakistan's economy has been in a limbo for long. It was already speculated that Pakistan would have to seek a loan package from IMF following the elections which were held on July 25.

Islamabad will be seeking a loan package from the fund for the second time since 2013.

In June, Caretaker Finance Minister Shamshad Akhtar in a press conference in Islamabad revealed that the government will be seeking financial help from the IMF in order to balance the deficit gap of USD 25 billion.&nbsp;

International Monetary Fund (IMF) Managing Director Christine Lagarde on Thursday confirmed that Pakistan has formally approached the IMF seeking financial assistance to address its economic challenges.

International Monetary Fund (IMF) Managing Director Christine Lagarde on Thursday confirmed that Pakistan has formally approached the IMF seeking financial assistance to address its economic challenges. Lagarde met Pakistan's Minister of Finance, Revenue and Economic Affairs, Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa and members of their economic team. "Today, I met with Pakistan's Minister of Finance, Revenue and Economic Affairs Asad Umar, Governor of the State Bank of Pakistan Tariq Bajwa and members of their economic team. During the meeting, they requested financial assistance from the IMF to help address Pakistan's economic challenges," Lagarde revealed in a statement. She further said that an IMF team will visit Islamabad in the coming week to initiate discussions for a possible economic programme. "An IMF team will visit Islamabad in the coming weeks to initiate discussions for a possible IMF-supported economic programme. We look forward to our continuing partnership," Lagarde added. Pakistan's economy has been in a limbo for long. It was already speculated that Pakistan would have to seek a loan package from IMF following the elections which were held on July 25. Islamabad will be seeking a loan package from the fund for the second time since 2013. In June, Caretaker Finance Minister Shamshad Akhtar in a press conference in Islamabad revealed that the government will be seeking financial help from the IMF in order to balance the deficit gap of USD 25 billion.

IMF team to visit Pakistan to initiate discussions on bailout

Interpol, the France-based global police agency, is supposed to find missing or wanted people. Last week, to its embarrassment, it said it couldn’t locate its own president, Meng Hongwei, who was on a visit to China. Beijing finally revealed on October 7 that Meng had been detained on arrival. A former Chinese vice-minister, he is being investigated on charges of corruption and has resigned from Interpol.

The incident raises questions about the legitimacy of China’s rise as the world’s pre-eminent superpower, seizing that mantle from the United States. Three other developments could stall China’s rise. First, the trade war with the US which is going badly for Beijing. US Defence Secretary James Mattis’ official visit to China has been called off though Secretary of State Mike Pompeo visited Beijing earlier this week to calm tempers. Washington has meanwhile imposed a second round of tariffs on Chinese exports valued at $200 billion. Since China buys only about a third of what it sells to the US, it has little economic leverage to fight back. The escalating trade war could shave a full percentage point off China’s GDP growth rate in 2018-19.

The second headwind facing China are growing concerns over the viability of its ambitious $500-billion Belt and Road Initiative (BRI). Dubbed China’s ‘new Silk Route’, the BRI is President Xi Jinping’s brainchild. He has invested so much political capital in the BRI that any setback to it could spark domestic opposition to his tenure as president for life.

When Sri Lanka couldn’t repay high-interest Chinese debt for building infrastructure at the Hambantota port, China simply took it over on a 99-year lease. Malaysia was next. Prime Minister Mohamad Mahathir on a visit to China defied protocol to publicly cancel or rework a slew of Chinese infrastructure projects in Malaysia worth $23 billion.

Pakistan soon followed. Over the past week, ministers in the Imran Khan government have complained about the high-cost debt of projects under the $60 billion China Pakistan Economic Corridor (CPEC), which is a key component of the BRI. Islamabad directed its ire at China’s investment of $8.2 billion to upgrade a railway line from Karachi to Peshawar. Railways Minister Sheikh Rasheed Ahmad said the cost of the project is being cut to $6.2 billion and will later be reduced further to $4.2 billion — half its original value.

For a while, Pakistan’s new government toyed with the idea of inviting cash-rich Saudi Arabia as the third partner in CPEC. Annoyed, Beijing shot the proposal down. It wants the BRI and its cogs like the CPEC to be Chinese-funded, Chinese-owned and Chinese-run. The Pakistani government backed down and said Saudi Arabia would only be involved as a contractor for specific ancillary projects within the CPEC.

With Pakistan’s economy in a shambles, Islamabad is in a bind. It needs China’s funds but has realised that it is rapidly sinking into a debt trap. Other Asian countries are waking up to the threat as well. Myanmar has slashed the cost of its proposed China-funded Kyaukpyu port from $7.3 billion to $1.3 billion. Bangladesh too is downsizing — or cancelling — BRI projects.

In Europe, where Xi Jinping went on a charm offensive, Hungary and other EU countries are developing cold feet over the BRI’s inflated infrastructure costs and high-interest debt. In Africa too, where China is investing heavily, countries like Tanzania are cancelling or resizing BRI projects.

The third factor stalling China’s rise lies closer to home. With the Chinese economy cooling and GDP growth slowing, local infrastructure projects are running ahead of demand. As The Economist recently pointed out, “The infrastructure boom (in China) has lost steam this year. After expanding at a double digit pace for much of the past three decades, investment in it has slowed sharply. Since May, spending on projects ranging from railways to power plants has fallen compared with a year earlier, the longest weak patch on record.”

All this doesn’t mean the BRI is doomed. It will continue to be China’s most ambitious geo-economic initiative, linking the country to the world with a series of interlocking infrastructure projects. But this modern version of China’s historic Silk Route will shrink in size and scope as the complex geopolitical trade battles with the US play out.

India has long opposed the BRI because its CPEC component violates Indian sovereignty in Pakistan-occupied Kashmir (PoK). India watched closely as Washington snubbed Beijing recently by selling arms to Taiwan worth over $330 million. A near-clash last week between a US destroyer and a Chinese warship just beyond the 12 nautical mile exclusion zone off the Spratly islands claimed by Beijing underscores Washington’s determination to not cede ground to China as hegemon of the South China Sea.

Beijing, meanwhile, continues to veto the designation by the United Nations of Jaish-e-Mohammad chief Masood Azhar as a global terrorist. It continues to block India’s membership of the Nuclear Suppliers Group (NSG). Both reveal Beijing’s mala fide intent. But with the global tide turning against it across multiple fronts, China has been pushed on to the back foot. Will that help change its behaviour? Unlikely.

The detention of Interpol’s ex-president Meng Hongwei shows that Beijing continues to behave as a law unto itself.

(This article was originally published on DNA. Read the <a href="https://www.dnaindia.com/analysis/column-silk-route-hits-roadblocks-2673949">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

&nbsp;

Interpol, the France-based global police agency, is supposed to find missing or wanted people. Last week, to its embarrassment, it said it couldn’t locate its own president, Meng Hongwei, who was on a visit to China.

Interpol, the France-based global police agency, is supposed to find missing or wanted people. Last week, to its embarrassment, it said it couldn’t locate its own president, Meng Hongwei, who was on a visit to China. Beijing finally revealed on October 7 that Meng had been detained on arrival. A former Chinese vice-minister, he is being investigated on charges of corruption and has resigned from Interpol. The incident raises questions about the legitimacy of China’s rise as the world’s pre-eminent superpower, seizing that mantle from the United States. Three other developments could stall China’s rise. First, the trade war with the US which is going badly for Beijing. US Defence Secretary James Mattis’ official visit to China has been called off though Secretary of State Mike Pompeo visited Beijing earlier this week to calm tempers. Washington has meanwhile imposed a second round of tariffs on Chinese exports valued at $200 billion. Since China buys only about a third of what it sells to the US, it has little economic leverage to fight back. The escalating trade war could shave a full percentage point off China’s GDP growth rate in 2018-19. The second headwind facing China are growing concerns over the viability of its ambitious $500-billion Belt and Road Initiative (BRI). Dubbed China’s ‘new Silk Route’, the BRI is President Xi Jinping’s brainchild. He has invested so much political capital in the BRI that any setback to it could spark domestic opposition to his tenure as president for life. When Sri Lanka couldn’t repay high-interest Chinese debt for building infrastructure at the Hambantota port, China simply took it over on a 99-year lease. Malaysia was next. Prime Minister Mohamad Mahathir on a visit to China defied protocol to publicly cancel or rework a slew of Chinese infrastructure projects in Malaysia worth $23 billion. Pakistan soon followed. Over the past week, ministers in the Imran Khan government have complained about the high-cost debt of projects under the $60 billion China Pakistan Economic Corridor (CPEC), which is a key component of the BRI. Islamabad directed its ire at China’s investment of $8.2 billion to upgrade a railway line from Karachi to Peshawar. Railways Minister Sheikh Rasheed Ahmad said the cost of the project is being cut to $6.2 billion and will later be reduced further to $4.2 billion — half its original value. For a while, Pakistan’s new government toyed with the idea of inviting cash-rich Saudi Arabia as the third partner in CPEC. Annoyed, Beijing shot the proposal down. It wants the BRI and its cogs like the CPEC to be Chinese-funded, Chinese-owned and Chinese-run. The Pakistani government backed down and said Saudi Arabia would only be involved as a contractor for specific ancillary projects within the CPEC. With Pakistan’s economy in a shambles, Islamabad is in a bind. It needs China’s funds but has realised that it is rapidly sinking into a debt trap. Other Asian countries are waking up to the threat as well. Myanmar has slashed the cost of its proposed China-funded Kyaukpyu port from $7.3 billion to $1.3 billion. Bangladesh too is downsizing — or cancelling — BRI projects. In Europe, where Xi Jinping went on a charm offensive, Hungary and other EU countries are developing cold feet over the BRI’s inflated infrastructure costs and high-interest debt. In Africa too, where China is investing heavily, countries like Tanzania are cancelling or resizing BRI projects. The third factor stalling China’s rise lies closer to home. With the Chinese economy cooling and GDP growth slowing, local infrastructure projects are running ahead of demand. As The Economist recently pointed out, “The infrastructure boom (in China) has lost steam this year. After expanding at a double digit pace for much of the past three decades, investment in it has slowed sharply. Since May, spending on projects ranging from railways to power plants has fallen compared with a year earlier, the longest weak patch on record.” All this doesn’t mean the BRI is doomed. It will continue to be China’s most ambitious geo-economic initiative, linking the country to the world with a series of interlocking infrastructure projects. But this modern version of China’s historic Silk Route will shrink in size and scope as the complex geopolitical trade battles with the US play out. India has long opposed the BRI because its CPEC component violates Indian sovereignty in Pakistan-occupied Kashmir (PoK). India watched closely as Washington snubbed Beijing recently by selling arms to Taiwan worth over $330 million. A near-clash last week between a US destroyer and a Chinese warship just beyond the 12 nautical mile exclusion zone off the Spratly islands claimed by Beijing underscores Washington’s determination to not cede ground to China as hegemon of the South China Sea. Beijing, meanwhile, continues to veto the designation by the United Nations of Jaish-e-Mohammad chief Masood Azhar as a global terrorist. It continues to block India’s membership of the Nuclear Suppliers Group (NSG). Both reveal Beijing’s mala fide intent. But with the global tide turning against it across multiple fronts, China has been pushed on to the back foot. Will that help change its behaviour? Unlikely. The detention of Interpol’s ex-president Meng Hongwei shows that Beijing continues to behave as a law unto itself. (This article was originally published on DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

China on back foot as Silk Route hits roadblocks

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'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

Two Afghan military officials were jailed for 20 years after a two-year trial for sharing state secrets with Pakistan, a prosecutor said on Wednesday.

The sentence highlights a long-standing belief between Afghanistan and neighbouring Pakistan that the other country does not adequately prevent cross-border militant attacks.

Shah Mohammad and Nazirullah were arrested in 2016 after travelling to Pakistan to hand over information to Pakistan`s Inter Services Intelligence (ISI) agency. They pleaded not guilty but eventually "confessed to their crime" before the military court in the eastern city of Jalalabad, officials said.

"Each of them has been sentenced to 20 years in prison by the primary court," said Najiburrahman Nadim, a military prosecutor.

Nadim said the accused had shared secret information about attacks and bomb blasts.

Afghanistan’s Western-backed government has long accused Pakistan of harbouring Afghan Taliban insurgents, a charge that Islamabad denies.

Islamabad, in turn, accuses Afghanistan of not doing enough to eradicate Pakistani Taliban militants, many of whom are based in Afghanistan and mostly carry out attacks inside Pakistan.

A defence lawyer representing the two army officials rejected the court`s verdict, which was delivered on Tuesday.&nbsp;

"My clients were beaten during the investigations and they were forced to confess. We don`t accept the decision and we will appeal," said Toryalai Muqanen.&nbsp;

Two Afghan military officials were jailed for 20 years after a two-year trial for sharing state secrets with Pakistan, a prosecutor said on Wednesday. The sentence highlights a long-standing belief between Afghanistan and neighbouring Pakistan that the other country does not adequately prevent cross-border militant attacks.

Two Afghan military officials were jailed for 20 years after a two-year trial for sharing state secrets with Pakistan, a prosecutor said on Wednesday. The sentence highlights a long-standing belief between Afghanistan and neighbouring Pakistan that the other country does not adequately prevent cross-border militant attacks. Shah Mohammad and Nazirullah were arrested in 2016 after travelling to Pakistan to hand over information to Pakistan`s Inter Services Intelligence (ISI) agency. They pleaded not guilty but eventually "confessed to their crime" before the military court in the eastern city of Jalalabad, officials said. "Each of them has been sentenced to 20 years in prison by the primary court," said Najiburrahman Nadim, a military prosecutor. Nadim said the accused had shared secret information about attacks and bomb blasts. Afghanistan’s Western-backed government has long accused Pakistan of harbouring Afghan Taliban insurgents, a charge that Islamabad denies. Islamabad, in turn, accuses Afghanistan of not doing enough to eradicate Pakistani Taliban militants, many of whom are based in Afghanistan and mostly carry out attacks inside Pakistan. A defence lawyer representing the two army officials rejected the court`s verdict, which was delivered on Tuesday. "My clients were beaten during the investigations and they were forced to confess. We don`t accept the decision and we will appeal," said Toryalai Muqanen.

Afghan officials get 20 years for handing secrets to Pakistan

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

Pakistan on Monday successfully test-fired Ghauri ballistic missile which is capable of carrying both conventional and nuclear warheads up to a distance of 1,300 kilometres, bringing many Indian cities under its range.

The launch was conducted by Army Strategic Forces Command and was aimed at testing the operational and technical readiness of Army Strategic Forces Command, said the Inter Services Public Relations, the media wing of the army.

"Ghauri Ballistic Missile can carry both conventional and nuclear warheads up to a distance of 1,300 kms," it said in a statement.

Army Strategic Forces Command chief Lt Gen Muhammad Hilal Hussain "appreciated the standard of training and operational preparedness of Army Strategic Forces," it said.

Senior officials and scientists of the Strategic Plans Division were present to witness the launch.

President Dr Arif Alvi and Prime Minister Imran Khan appreciated the scientists and engineers on the successful conduct of the missile test.&nbsp;

In April, Pakistan successfully test fired an enhanced version of the indigenously-built Babur cruise missile that can deliver conventional and non-conventional weapons with a range of 700 kilometres.

The 'Babur Weapon System-1 (B)' is a low-flying, terrain-hugging missile, which carries certain stealth features and is capable of carrying various types of warheads.&nbsp;

The missile incorporates advanced aerodynamics and avionics that can strike targets both at land and sea with high accuracy, the army claims.&nbsp;

Pakistan on Monday successfully test-fired Ghauri ballistic missile which is capable of carrying both conventional and nuclear warheads up to a distance of 1,300 kilometres, bringing many Indian cities under its range.

Pakistan on Monday successfully test-fired Ghauri ballistic missile which is capable of carrying both conventional and nuclear warheads up to a distance of 1,300 kilometres, bringing many Indian cities under its range. The launch was conducted by Army Strategic Forces Command and was aimed at testing the operational and technical readiness of Army Strategic Forces Command, said the Inter Services Public Relations, the media wing of the army. "Ghauri Ballistic Missile can carry both conventional and nuclear warheads up to a distance of 1,300 kms," it said in a statement. Army Strategic Forces Command chief Lt Gen Muhammad Hilal Hussain "appreciated the standard of training and operational preparedness of Army Strategic Forces," it said. Senior officials and scientists of the Strategic Plans Division were present to witness the launch. President Dr Arif Alvi and Prime Minister Imran Khan appreciated the scientists and engineers on the successful conduct of the missile test. In April, Pakistan successfully test fired an enhanced version of the indigenously-built Babur cruise missile that can deliver conventional and non-conventional weapons with a range of 700 kilometres. The 'Babur Weapon System-1 (B)' is a low-flying, terrain-hugging missile, which carries certain stealth features and is capable of carrying various types of warheads. The missile incorporates advanced aerodynamics and avionics that can strike targets both at land and sea with high accuracy, the army claims.

Pak successfully test-fires nuclear-capable Ghauri ballistic missile

A second team of the Financial Action Task Force (FATF) is in Pakistan to hold meetings with top officials to discuss the measures taken by the country to counter money laundering and terror financing after it was added in the 'grey list' for providing monetary assistance to terrorists.

The nine-member delegation, comprising members of FATF's Asia Pacific Group (APG), arrived in Islamabad on Sunday on a 12-day visit to see the implementation of the action plan Pakistan had issued earlier this year, official sources said.

The team includes experts from British Scotland Yard, US Department of Treasury, Financial Intelligence Unit of Maldives, Indonesian Ministry of Finance, Peoples' Bank of China and Justice Department of Turkey.

Pakistan was formally added to the 'grey list' of countries involved in providing monetary assistance to terrorists and related causes after a FATF meeting in Paris in June.

The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.

Sources in the finance ministry said that "Pakistan has done its homework" and the delegation will be briefed about the measures to curb terror financing through money laundering and illegal remittances.

 
The team will carry out on-site inspections in order to see the systems and mechanisms put in place while its three members will stay for longer period to review progress on the 10-point action plan agreed with Pakistan.

Pakistan and FATF negotiated a 10-point action plan to be implemented by September 2019 to get out of the grey list.

Earlier, a team of FATF visited Islamabad in August to identify deficiencies in Pakistan's anti-money laundering/counter-terror financing laws and mechanisms.

During the current visit, the experts will meet officials from ministries of Interior, Finance, Foreign affairs and Law.

They are also likely to meet officials of State Bank of Pakistan, Securities and Exchange Commission of Pakistan, National Counter-Terrorism Authority, Federal Investigation Agency, Federal Board of Revenue, National Accountability Bureau, Anti-Narcotics Force, Financial Monitoring Unit, Central Directorate of National Savings and provincial counter-terrorism departments.&nbsp; 
&nbsp;

A second team of the Financial Action Task Force (FATF) is in Pakistan to hold meetings with top officials to discuss the measures taken by the country to counter money laundering and terror financing after it was added in the 'grey list' for providing monetary assistance to terrorists.

A second team of the Financial Action Task Force (FATF) is in Pakistan to hold meetings with top officials to discuss the measures taken by the country to counter money laundering and terror financing after it was added in the 'grey list' for providing monetary assistance to terrorists. The nine-member delegation, comprising members of FATF's Asia Pacific Group (APG), arrived in Islamabad on Sunday on a 12-day visit to see the implementation of the action plan Pakistan had issued earlier this year, official sources said. The team includes experts from British Scotland Yard, US Department of Treasury, Financial Intelligence Unit of Maldives, Indonesian Ministry of Finance, Peoples' Bank of China and Justice Department of Turkey. Pakistan was formally added to the 'grey list' of countries involved in providing monetary assistance to terrorists and related causes after a FATF meeting in Paris in June. The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system. Sources in the finance ministry said that "Pakistan has done its homework" and the delegation will be briefed about the measures to curb terror financing through money laundering and illegal remittances. The team will carry out on-site inspections in order to see the systems and mechanisms put in place while its three members will stay for longer period to review progress on the 10-point action plan agreed with Pakistan. Pakistan and FATF negotiated a 10-point action plan to be implemented by September 2019 to get out of the grey list. Earlier, a team of FATF visited Islamabad in August to identify deficiencies in Pakistan's anti-money laundering/counter-terror financing laws and mechanisms. During the current visit, the experts will meet officials from ministries of Interior, Finance, Foreign affairs and Law. They are also likely to meet officials of State Bank of Pakistan, Securities and Exchange Commission of Pakistan, National Counter-Terrorism Authority, Federal Investigation Agency, Federal Board of Revenue, National Accountability Bureau, Anti-Narcotics Force, Financial Monitoring Unit, Central Directorate of National Savings and provincial counter-terrorism departments.

International delegation in Pak to hold meet on terror financing

Desperate for funding to fend off a financial crisis fuelled in part by mounting debt to China, Pakistan is playing a complicated game of poker that could hand Saudi Arabia a strategic victory in its bitter feud with Iran at the People’s Republic’s expense.

The Pakistani moves threaten a key leg of the $ 60 billion-plus Chinese investment in the China Pakistan Economic Corridor (CPEC), a crown jewel of Chinese President Xi Jinping’s Belt and Road initiative.

They also could jeopardize Chinese hopes to create a second overland route to Iran, a key node in China’s transportation links to Europe. Finally, they grant Saudi Arabia a prominent place in the Chinese-funded port of Gwadar that would significantly weaken Iran’s ability to compete with its Indian-backed seaport of Chabahar.

Taken together, the moves risk dragging not only Pakistan but also China into the all but open war between Saudi Arabia and Iran.

Pakistan’s first move became evident in early September with the government’s failure to authorise disbursements for road projects, already hit by delays in Chinese approvals, that are part of CPEC’s Western route, linking the province of Balochistan with the troubled region of Xinjiang in north-western China.

In doing so, Pakistan implicitly targeted a key Chinese driver for CPEC: the pacification of Xinjiang’s Turkic Muslim population through a combination of economic development enhanced by trade and economic activity flowing through CPEC as well as brutal repression and mass re-education.

The combination of Pakistani and Chinese delays “has virtually brought progress work on the Western route to a standstill,” a Western diplomat in the Pakistani capital of Islamabad said.

Pakistani Railways Minister Sheikh Rashid, in a further bid to bring Pakistani government expenditure under control that at current rates could force the country to seek a $US 12 billion bailout from the International Monetary Fund (IMF), has cut $2 billion dollars from the US$8.2 billion budget to upgrade and expand Pakistan’s railway network, a key pillar of CPEC. Mr. Rashid plans to slash a further two billion dollars.

“Pakistan is a poor country that cannot afford (the) huge burden of the loans…. CPEC is like the backbone for Pakistan, but our eyes and ears are open,” Mr. Rashid said.

The budget cuts came on the back of Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party projecting CPEC prior to the July 25 election that swept him to power to as a modern-day equivalent of the British East India Company, which dominated the Indian subcontinent in the 19th century.

PTI criticism included denouncing Chinese-funded mass transit projects in three cities in Punjab as a squandering of funds that could have better been invested in social spending. PTI activists suggested that the projects had involved corrupt practices.

Pakistan’s final move was to invite Saudi Arabia to build a refinery in Gwadar and invest in Balochistan mining. Chinese questioning of Pakistan’s move was evident when the Pakistani government backed off suggestions that Saudi Arabia would become part of CPEC.

Senior Saudi officials this week visited Islamabad and Gwadar to discuss the deal that would also involve deferred payments on Saudi oil supplies to Pakistan and create a strategic oil reserve close to Iran’s border.

"The incumbent government is bringing Saudi Arabia closer to Gwadar. In other words, the hardline Sunni-Wahhabi state would be closer than ever to the Iranian border. This is likely to infuriate Tehran," said Baloch politician and former Pakistani ports and shipping minister Mir Hasil Khan Bizenjo.

Pakistan’s game of poker amounts to a risky gamble that serves Pakistani and Saudi purposes, puts China whose prestige and treasure are on the line in a difficult spot, could perilously spark tension along the Pakistan-Iran border, and is likely to provoke Iranian counter moves. It also risks putting Pakistan, Saudi Arabia and Iran, who depend on China economically in different ways, in an awkward position.

The Saudi engagement promises up to US$10 billion in investments as well as balance of payments relief. It potentially could ease US concerns that a possible IMF bailout would help Pakistan service debt to China.

A refinery and strategic oil reserve in Gwadar would serve Saudi Arabia’s goal of preventing Chabahar, the Indian-backed Iranian port, from emerging as a powerful Arabian Sea hub at a time that the United States is imposing sanctions designed to choke off Iranian oil exports.

A Saudi think tank, the International Institute for Iranian Studies, previously known as the Arabian Gulf Centre for Iranian Studies (AGCIS) that is believed to be backed by Saudi Crown Prince Mohammed bin Salman, argued last year in a study that Chabahar posed “a direct threat to the Arab Gulf states” that called for “immediate countermeasures.”

Written by Mohammed Hassan Husseinbor, an Iranian political researcher of Baloch origin, the study warned that Chabahar would enable Iran to increase its oil market share in India at the expense of Saudi Arabia, raise foreign investment in the Islamic republic, increase government revenues, and allow Iran to project power in the Gulf and the Indian Ocean.

Mr Husseinbor suggested that Saudi support for a low-level Baloch insurgency in Iran could serve as a countermeasure. “Saudis could persuade Pakistan to soften its opposition to any potential Saudi support for the Iranian Baluch... The Arab-Baluch alliance is deeply rooted in the history of the Gulf region and their opposition to Persian domination,” Mr&nbsp;Husseinbor said.

Noting the vast expanses of Iran’s Sistan and Baluchistan Province, Mr. Husseinbor went on to say that “it would be a formidable challenge, if not impossible, for the Iranian government to protect such long distances and secure Chabahar in the face of widespread Baluch opposition, particularly if this opposition is supported by Iran’s regional adversaries and world powers.”

Saudi militants reported at the time the study was published that funds from the kingdom were flowing into anti-Shiite, anti-Iranian Sunni Muslim ultra-conservative madrassas or religious seminaries in Balochistan.

US President Donald J&nbsp;Trump’s national security advisor, John Bolton, last year before assuming office, drafted at the request of Mr. Trump’s then strategic advisor, Steve Bannon, a plan that envisioned US support “for the democratic Iranian opposition,” including in Balochistan and Iran’s Sistan and Balochistan province.

All of this does not bode well for CPEC. China may be able to accommodate Pakistan by improving commercial terms for CPEC-related projects and Pakistani debt as well as easing Pakistani access to the Chinese market. China, however, is likely to find it far more difficult to prevent the Saudi-Iranian rivalry from spinning out of control in its backyard.

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Desperate for funding to fend off a financial crisis fuelled in part by mounting debt to China, Pakistan is playing a complicated game of poker that could hand Saudi Arabia a strategic victory in its bitter feud with Iran at the People’s Republic’s expense.

Desperate for funding to fend off a financial crisis fuelled in part by mounting debt to China, Pakistan is playing a complicated game of poker that could hand Saudi Arabia a strategic victory in its bitter feud with Iran at the People’s Republic’s expense. The Pakistani moves threaten a key leg of the $ 60 billion-plus Chinese investment in the China Pakistan Economic Corridor (CPEC), a crown jewel of Chinese President Xi Jinping’s Belt and Road initiative. They also could jeopardize Chinese hopes to create a second overland route to Iran, a key node in China’s transportation links to Europe. Finally, they grant Saudi Arabia a prominent place in the Chinese-funded port of Gwadar that would significantly weaken Iran’s ability to compete with its Indian-backed seaport of Chabahar. Taken together, the moves risk dragging not only Pakistan but also China into the all but open war between Saudi Arabia and Iran. Pakistan’s first move became evident in early September with the government’s failure to authorise disbursements for road projects, already hit by delays in Chinese approvals, that are part of CPEC’s Western route, linking the province of Balochistan with the troubled region of Xinjiang in north-western China. In doing so, Pakistan implicitly targeted a key Chinese driver for CPEC: the pacification of Xinjiang’s Turkic Muslim population through a combination of economic development enhanced by trade and economic activity flowing through CPEC as well as brutal repression and mass re-education. The combination of Pakistani and Chinese delays “has virtually brought progress work on the Western route to a standstill,” a Western diplomat in the Pakistani capital of Islamabad said. Pakistani Railways Minister Sheikh Rashid, in a further bid to bring Pakistani government expenditure under control that at current rates could force the country to seek a $US 12 billion bailout from the International Monetary Fund (IMF), has cut $2 billion dollars from the US$8.2 billion budget to upgrade and expand Pakistan’s railway network, a key pillar of CPEC. Mr. Rashid plans to slash a further two billion dollars. “Pakistan is a poor country that cannot afford (the) huge burden of the loans…. CPEC is like the backbone for Pakistan, but our eyes and ears are open,” Mr. Rashid said. The budget cuts came on the back of Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party projecting CPEC prior to the July 25 election that swept him to power to as a modern-day equivalent of the British East India Company, which dominated the Indian subcontinent in the 19th century. PTI criticism included denouncing Chinese-funded mass transit projects in three cities in Punjab as a squandering of funds that could have better been invested in social spending. PTI activists suggested that the projects had involved corrupt practices. Pakistan’s final move was to invite Saudi Arabia to build a refinery in Gwadar and invest in Balochistan mining. Chinese questioning of Pakistan’s move was evident when the Pakistani government backed off suggestions that Saudi Arabia would become part of CPEC. Senior Saudi officials this week visited Islamabad and Gwadar to discuss the deal that would also involve deferred payments on Saudi oil supplies to Pakistan and create a strategic oil reserve close to Iran’s border. "The incumbent government is bringing Saudi Arabia closer to Gwadar. In other words, the hardline Sunni-Wahhabi state would be closer than ever to the Iranian border. This is likely to infuriate Tehran," said Baloch politician and former Pakistani ports and shipping minister Mir Hasil Khan Bizenjo. Pakistan’s game of poker amounts to a risky gamble that serves Pakistani and Saudi purposes, puts China whose prestige and treasure are on the line in a difficult spot, could perilously spark tension along the Pakistan-Iran border, and is likely to provoke Iranian counter moves. It also risks putting Pakistan, Saudi Arabia and Iran, who depend on China economically in different ways, in an awkward position. The Saudi engagement promises up to US$10 billion in investments as well as balance of payments relief. It potentially could ease US concerns that a possible IMF bailout would help Pakistan service debt to China. A refinery and strategic oil reserve in Gwadar would serve Saudi Arabia’s goal of preventing Chabahar, the Indian-backed Iranian port, from emerging as a powerful Arabian Sea hub at a time that the United States is imposing sanctions designed to choke off Iranian oil exports. A Saudi think tank, the International Institute for Iranian Studies, previously known as the Arabian Gulf Centre for Iranian Studies (AGCIS) that is believed to be backed by Saudi Crown Prince Mohammed bin Salman, argued last year in a study that Chabahar posed “a direct threat to the Arab Gulf states” that called for “immediate countermeasures.” Written by Mohammed Hassan Husseinbor, an Iranian political researcher of Baloch origin, the study warned that Chabahar would enable Iran to increase its oil market share in India at the expense of Saudi Arabia, raise foreign investment in the Islamic republic, increase government revenues, and allow Iran to project power in the Gulf and the Indian Ocean. Mr Husseinbor suggested that Saudi support for a low-level Baloch insurgency in Iran could serve as a countermeasure. “Saudis could persuade Pakistan to soften its opposition to any potential Saudi support for the Iranian Baluch... The Arab-Baluch alliance is deeply rooted in the history of the Gulf region and their opposition to Persian domination,” Mr Husseinbor said. Noting the vast expanses of Iran’s Sistan and Baluchistan Province, Mr. Husseinbor went on to say that “it would be a formidable challenge, if not impossible, for the Iranian government to protect such long distances and secure Chabahar in the face of widespread Baluch opposition, particularly if this opposition is supported by Iran’s regional adversaries and world powers.” Saudi militants reported at the time the study was published that funds from the kingdom were flowing into anti-Shiite, anti-Iranian Sunni Muslim ultra-conservative madrassas or religious seminaries in Balochistan. US President Donald J Trump’s national security advisor, John Bolton, last year before assuming office, drafted at the request of Mr. Trump’s then strategic advisor, Steve Bannon, a plan that envisioned US support “for the democratic Iranian opposition,” including in Balochistan and Iran’s Sistan and Balochistan province. All of this does not bode well for CPEC. China may be able to accommodate Pakistan by improving commercial terms for CPEC-related projects and Pakistani debt as well as easing Pakistani access to the Chinese market. China, however, is likely to find it far more difficult to prevent the Saudi-Iranian rivalry from spinning out of control in its backyard. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Pakistani poker: Playing Saudi Arabia against China

An anti-corruption court in Pakistan on Saturday granted a 10-day remand of opposition leader Shahbaz Sharif to the country's top anti-graft body in a Rs 1,400 crore housing scam, the latest setback to the embattled Sharif family.

The National Accountability Bureau (NAB), which arrested the PML-N president on Friday, had sought a 15-day remand to investigate his alleged involvement in the multi-billion rupees corruption case.

Shahbaz, 67, is the younger brother of ousted prime minister Nawaz Sharif, 68, who is facing corruption charges in three cases.

The Pakistan Muslim League-Nawaz (PML-N) president, who was kept in a highly-secured lock-up inside the NAB Lahore office, arrived in court in an armoured vehicle, under heavy security.

A large number of PML-N workers gathered outside the court and chanted slogans against Prime Minister Imran Khan for taking "revenge" from the Sharif brothers.

Accountability Court judge Najamul Hasan accepted the request of the NAB prosecutor's plea and granted Shahbaz's physical remand for 10 days to interrogate him in the case.

Shahbaz, who has been accused of misusing his authority, denied corruption charges and told the court that he had saved billions of rupees in different developmental projects during his tenure as Punjab chief minister.

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He requested the judge to view his case as political victimisation as not a single rupee corruption against him has been proved.

Shahbaz was allegedly involved in the corruption of Rs 14 billion Ashiana Housing project and Rs 4 billion Punjab Saaf Pani Company scams.

He allegedly cancelled the award of contract of the Ashiana housing project to successful bidder 'Chaudhry Latif and Sons' to oblige his "favourite" firm the 'Lahore Casa Developers', a proxy group of 'Paragon City Private Limited', causing a loss of millions of rupees.

Nawaz termed his brother's arrest a worst political victimisation.

"Shahbaz Sharif being the chief minister had set great examples of transparency and honesty in all projects. PTI is responsible for this political victimisation and should be ready to reap what it is sowing today," he said.

Nawaz said the Pakistan Tehreek-e-Insaf (PTI) government should not make Shahbaz a victim of its own inefficiency.

"All know that the PTI government is responsible for this revenge," he said.

Shahbaz's son and opposition leader in the Punjab Assembly Hamza Shahbaz, who was also probed for presiding over the company's board of directors meetings many times to issue directions for award of contracts to favourite firms, said if this political victimisation continued, the PML-N would be on roads to fight this war.

He claimed that Shahbaz has been arrested to influence October 14 by-polls.

"We had faced the NAB in the (Pervez) Musharraf regime and we have the courage to face it in Imran Niazi's government," he said.

This Saaf Pani Company was established by Shahbaz's previous Punjab government to conceive, plan, design, execute and manage projects for the provision of safe drinking water in terms of both access and quality, to communities living in rural areas of the province.

Shahbaz's son-in-law Ali Imran Yousuf is also facing corruption inquiries in this case. He has fled to the UK and the NAB has written to the interior ministry to bring him back from abroad through Interpol.

Shahbaz's close confidant Ahad Cheea and Nawaz's principal secretary Fawad Hasan Fawad are already in the NAB's custody in the Ashiana housing scheme scam.

In July, Nawaz, his daughter Maryam and Capt (retd) Muhammad Safdar were sentenced to 11 years, eight years and one year, respectively, in prison in the Avenfield properties case related to the purchase of four luxury flats in London through corrupt practices.

However, the Islamabad High Court freed the trio on bail last month and suspended their sentence after they challenged the Avenfield verdict.

Nawaz is facing two more corruption cases filed by the NAB on the Supreme Court's order following the Panama Papers scandal.

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 Saturday granted a 10-day remand of opposition leader Shahbaz Sharif to the country's top anti-graft body in a Rs 1,400 crore housing scam, the latest setback to the embattled Sharif family.

An anti-corruption court in Pakistan on Saturday granted a 10-day remand of opposition leader Shahbaz Sharif to the country's top anti-graft body in a Rs 1,400 crore housing scam, the latest setback to the embattled Sharif family. The National Accountability Bureau (NAB), which arrested the PML-N president on Friday, had sought a 15-day remand to investigate his alleged involvement in the multi-billion rupees corruption case. Shahbaz, 67, is the younger brother of ousted prime minister Nawaz Sharif, 68, who is facing corruption charges in three cases. The Pakistan Muslim League-Nawaz (PML-N) president, who was kept in a highly-secured lock-up inside the NAB Lahore office, arrived in court in an armoured vehicle, under heavy security. A large number of PML-N workers gathered outside the court and chanted slogans against Prime Minister Imran Khan for taking "revenge" from the Sharif brothers. Accountability Court judge Najamul Hasan accepted the request of the NAB prosecutor's plea and granted Shahbaz's physical remand for 10 days to interrogate him in the case. Shahbaz, who has been accused of misusing his authority, denied corruption charges and told the court that he had saved billions of rupees in different developmental projects during his tenure as Punjab chief minister. × He requested the judge to view his case as political victimisation as not a single rupee corruption against him has been proved. Shahbaz was allegedly involved in the corruption of Rs 14 billion Ashiana Housing project and Rs 4 billion Punjab Saaf Pani Company scams. He allegedly cancelled the award of contract of the Ashiana housing project to successful bidder 'Chaudhry Latif and Sons' to oblige his "favourite" firm the 'Lahore Casa Developers', a proxy group of 'Paragon City Private Limited', causing a loss of millions of rupees. Nawaz termed his brother's arrest a worst political victimisation. "Shahbaz Sharif being the chief minister had set great examples of transparency and honesty in all projects. PTI is responsible for this political victimisation and should be ready to reap what it is sowing today," he said. Nawaz said the Pakistan Tehreek-e-Insaf (PTI) government should not make Shahbaz a victim of its own inefficiency. "All know that the PTI government is responsible for this revenge," he said. Shahbaz's son and opposition leader in the Punjab Assembly Hamza Shahbaz, who was also probed for presiding over the company's board of directors meetings many times to issue directions for award of contracts to favourite firms, said if this political victimisation continued, the PML-N would be on roads to fight this war. He claimed that Shahbaz has been arrested to influence October 14 by-polls. "We had faced the NAB in the (Pervez) Musharraf regime and we have the courage to face it in Imran Niazi's government," he said. This Saaf Pani Company was established by Shahbaz's previous Punjab government to conceive, plan, design, execute and manage projects for the provision of safe drinking water in terms of both access and quality, to communities living in rural areas of the province. Shahbaz's son-in-law Ali Imran Yousuf is also facing corruption inquiries in this case. He has fled to the UK and the NAB has written to the interior ministry to bring him back from abroad through Interpol. Shahbaz's close confidant Ahad Cheea and Nawaz's principal secretary Fawad Hasan Fawad are already in the NAB's custody in the Ashiana housing scheme scam. In July, Nawaz, his daughter Maryam and Capt (retd) Muhammad Safdar were sentenced to 11 years, eight years and one year, respectively, in prison in the Avenfield properties case related to the purchase of four luxury flats in London through corrupt practices. However, the Islamabad High Court freed the trio on bail last month and suspended their sentence after they challenged the Avenfield verdict. Nawaz is facing two more corruption cases filed by the NAB on the Supreme Court's order following the Panama Papers scandal. 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.

Housing scam: Pak opposition leader Shahbaz Sharif remanded in NAB custody

Protest broke out against the arrest of Shehbaz Sharif, as his angry supporters are party workers blocked the Shahadra Chowk in Lahore.

The protest was carried out by Malik Riaz, the Member of National Assembly from constituency NA-123 along with Sami Ullah Khan, the Member of Provincial Assembly from constituency PP-144.

The opposition leader of Pakistan and the former chief minister of Punjab province, Shehbaz Sharif was arrested by the country's anti-graft body on Friday for misusing authority and for his involvement in Rs. 1,400 crore housing scam.

Shehbaz is the younger brother of ousted Prime Minister Nawaz Sharif, who was also allegedly involved in Rs 14 million Ashiana Housing Project and Rs 4 million Punjab Saaf Pani Company scams.

On Friday, Shehbaz appeared before an investigation team of the National Accountability Bureau (NAB) in Lahore, where he was arrested after failing to satisfy the investigators for his role in giving out contracts to his favourite firm in violations of rules in the Ashiana Housing Scheme and Punjab Saaf Pani Company.

Shehbaz, who is also the president of the Pakistan Muslim League-N (PML-N) was on Saturday presented before the accountability court, which granted his 10-day physical remand to the NAB in the housing scheme case.

The arrest comes ahead of by-polls, which are scheduled for October 14.

The PML-N leaders have strongly condemned the arrest of their party president and termed it as a case of political victimisation, calling for its immediate stop.

Pakistan People's Party (PPP) also condemned the arrest of the opposition leader and termed it as 'an act of revenge' and insult to the country's National Assembly and Senate. They even asked the Imran Khan-led government to refrain from such 'malicious actions. 
&nbsp;

Protest broke out against the arrest of Shehbaz Sharif, as his angry supporters are party workers blocked the Shahadra Chowk in Lahore. The protest was carried out by Malik Riaz, the Member of National Assembly from constituency NA-123 along with Sami Ullah Khan, the Member of Provincial Assembly from constituency PP-144.

Protest broke out against the arrest of Shehbaz Sharif, as his angry supporters are party workers blocked the Shahadra Chowk in Lahore. The protest was carried out by Malik Riaz, the Member of National Assembly from constituency NA-123 along with Sami Ullah Khan, the Member of Provincial Assembly from constituency PP-144. The opposition leader of Pakistan and the former chief minister of Punjab province, Shehbaz Sharif was arrested by the country's anti-graft body on Friday for misusing authority and for his involvement in Rs. 1,400 crore housing scam. Shehbaz is the younger brother of ousted Prime Minister Nawaz Sharif, who was also allegedly involved in Rs 14 million Ashiana Housing Project and Rs 4 million Punjab Saaf Pani Company scams. On Friday, Shehbaz appeared before an investigation team of the National Accountability Bureau (NAB) in Lahore, where he was arrested after failing to satisfy the investigators for his role in giving out contracts to his favourite firm in violations of rules in the Ashiana Housing Scheme and Punjab Saaf Pani Company. Shehbaz, who is also the president of the Pakistan Muslim League-N (PML-N) was on Saturday presented before the accountability court, which granted his 10-day physical remand to the NAB in the housing scheme case. The arrest comes ahead of by-polls, which are scheduled for October 14. The PML-N leaders have strongly condemned the arrest of their party president and termed it as a case of political victimisation, calling for its immediate stop. Pakistan People's Party (PPP) also condemned the arrest of the opposition leader and termed it as 'an act of revenge' and insult to the country's National Assembly and Senate. They even asked the Imran Khan-led government to refrain from such 'malicious actions.

PML(N) workers protest against Shehbaz Sharif's arrest

The ashes of veteran Indian journalist Kuldip Nayar were immersed on Friday in Lahore in the River Ravi by his granddaughter.

Nayar passed away on August 23 in New Delhi.&nbsp;

His granddaughter Mandira, also a journalist, scattered his ashes in the Ravi. She later visited the Lahore Press Club where the honorary membership of the club was bestowed on her. After her grandfather, she became the second Indian to be given the honour.

"My grandfather was not a member of the New Delhi Press Club, but of the Lahore Press Club. Although he lived in Delhi, he was spiritually part of Lahore.

His will to scatter his remains in the Ravi at Lahore is a testimony to his spiritual connection to the place. The late journalist lit the candle of peace and it will be kept burning," said Mandira.

Nayar was born in Sialkot and studied at Forman Christian College then the Law College in Lahore, obtaining a law degree.&nbsp;

When violence broke out at partition in 1947, the family migrated to India.

The ashes of veteran Indian journalist Kuldip Nayar were immersed on Friday in Lahore in the River Ravi by his granddaughter. Nayar passed away on August 23 in New Delhi.

The ashes of veteran Indian journalist Kuldip Nayar were immersed on Friday in Lahore in the River Ravi by his granddaughter. Nayar passed away on August 23 in New Delhi. His granddaughter Mandira, also a journalist, scattered his ashes in the Ravi. She later visited the Lahore Press Club where the honorary membership of the club was bestowed on her. After her grandfather, she became the second Indian to be given the honour. "My grandfather was not a member of the New Delhi Press Club, but of the Lahore Press Club. Although he lived in Delhi, he was spiritually part of Lahore. His will to scatter his remains in the Ravi at Lahore is a testimony to his spiritual connection to the place. The late journalist lit the candle of peace and it will be kept burning," said Mandira. Nayar was born in Sialkot and studied at Forman Christian College then the Law College in Lahore, obtaining a law degree. When violence broke out at partition in 1947, the family migrated to India.

Veteran Indian journalist's ashes immersed in Ravi River in Pakistan

A top American general has asked Islamabad to use its influence over Taliban to bring them to the negotiations table and stop cross border movement of their leaders, a day-after Pakistani Foreign Minister Shah Mahmood Qureshi left US after holding meetings with top Trump Administration officials.

"As we often talk with the military leadership in Pakistan, we need them to continue to stay engaged in this. We need them to help lower the violence in Afghanistan," US Central Command Commander General Joseph Votel told reporters during a Pentagon news conference.

Pakistan, he said, need to do that by making absolutely sure there are instructions, direction, other things coming from Taliban leadership, which remains in Pakistan, to their fighters on the ground.

"They need to ensure that they continue to ensure there can be no movement back and forth and that fighters can't come back into Pakistan to get aid or medical care or other things with that. They have to help us lower the violence in Afghanistan," Votel said.

"And they need to use their influence with the Taliban to force the Taliban leadership to come to the table. And they can do this, they can put pressure on them to do this," Votel said when asked about Qureshi's remarks a day earlier in which he claimed that Pakistan has taken appropriate measures against terrorist groups.&nbsp;

"Those are the two things that we have continued to emphasize with Pakistan that they need to do. So I do acknowledge that they have done a lot in their own country, but there is more to do and it is those specific areas right there where we are seeking their closest assistance," Votel said.

On Tuesday, Qureshi met the Secretary of State Mike Pompeo and the National Security Advisor John Bolton.&nbsp;

Wrapping up his 10-day US trip, Qureshi in his remarks at the US Institute of Peace had challenged that US military and members of Congress to come into Pakistan, and travel anywhere inside the country and see for themselves that there are no safe havens any longer.&nbsp;

There is no doubt, Votel Acknowledged that Pakistan has conducted operations in their country to root out terrorist organisations "in certain areas," particularly areas up along the border with Afghanistan.&nbsp;

"But we do assess there still is a presence in Pakistan and we need them to continue to do that,? the general said.

A top American general has asked Islamabad to use its influence over Taliban to bring them to the negotiations table and stop cross border movement of their leaders, a day-after Pakistani Foreign Minister Shah Mahmood Qureshi left US after holding meetings with top Trump Administration officials.

A top American general has asked Islamabad to use its influence over Taliban to bring them to the negotiations table and stop cross border movement of their leaders, a day-after Pakistani Foreign Minister Shah Mahmood Qureshi left US after holding meetings with top Trump Administration officials. "As we often talk with the military leadership in Pakistan, we need them to continue to stay engaged in this. We need them to help lower the violence in Afghanistan," US Central Command Commander General Joseph Votel told reporters during a Pentagon news conference. Pakistan, he said, need to do that by making absolutely sure there are instructions, direction, other things coming from Taliban leadership, which remains in Pakistan, to their fighters on the ground. "They need to ensure that they continue to ensure there can be no movement back and forth and that fighters can't come back into Pakistan to get aid or medical care or other things with that. They have to help us lower the violence in Afghanistan," Votel said. "And they need to use their influence with the Taliban to force the Taliban leadership to come to the table. And they can do this, they can put pressure on them to do this," Votel said when asked about Qureshi's remarks a day earlier in which he claimed that Pakistan has taken appropriate measures against terrorist groups. "Those are the two things that we have continued to emphasize with Pakistan that they need to do. So I do acknowledge that they have done a lot in their own country, but there is more to do and it is those specific areas right there where we are seeking their closest assistance," Votel said. On Tuesday, Qureshi met the Secretary of State Mike Pompeo and the National Security Advisor John Bolton. Wrapping up his 10-day US trip, Qureshi in his remarks at the US Institute of Peace had challenged that US military and members of Congress to come into Pakistan, and travel anywhere inside the country and see for themselves that there are no safe havens any longer. There is no doubt, Votel Acknowledged that Pakistan has conducted operations in their country to root out terrorist organisations "in certain areas," particularly areas up along the border with Afghanistan. "But we do assess there still is a presence in Pakistan and we need them to continue to do that,? the general said.

Pentagon asks Pakistan to use influence over Taliban, stop cross border movement 

Pakistan-based terrorist outfits -- the Lashkar-e-Taiba (LeT) and Tehrik-i-Taliban Pakistan (TTP) -- are among radical Islamist groups identified as a potential threat to the US in the <a href="http://www.wionews.com/world/trump-announces-new-national-strategy-for-counterterrorism-169506">Trump administration's new counterterrorism strategy</a>.&nbsp;

In addition to the ISIS and al-Qaeda, dozens of other radical Islamist terrorist groups are working to advance more locally focused insurgent or terrorist campaigns, while still posing a threat to United States persons and interests overseas, said the National Strategy for Counter-terrorism released by the White House on Thursday.&nbsp;

"These groups, including Boko Haram, Tehrik-e Taliban Pakistan and the Lashkar-e Taiba, employ a range of political and terrorist tactics to undermine local governments and conduct attacks," it said.

The LeT is responsible for carrying out the 2008 Mumbai attack that killed 166 people. It has been declared as a foreign terrorist organisation by the US in June 2014.&nbsp;

According to the strategy, these organisations will probably prioritise regional goals over attacks against the homeland or United States interests because of resource constraints or political considerations.&nbsp;

"However, many of these groups are hostile to the United States, maintain networks of sympathisers around the world, and retain ties to the ISIS or al-Qaeda, underscoring their potential threat to United States interests," said the strategy, according to which radical Islamist terrorists remain the primary transnational terrorist threat to the US and its vital national interests.&nbsp;

Prominent terrorist organisations, particularly the ISIS and al-Qaeda, have repeatedly demonstrated the intent and capability to attack the homeland and United States interests and continue to plot new attacks and inspire susceptible people to commit acts of violence inside the United States, it said.

"These groups stoke and exploit weak governance, conflict, instability, and longstanding political and religious grievances to pursue their goal of eliminating Western influence in majority Muslim countries and remaking Islamic society," the strategy said.

Radical Islamist terrorist groups have developed and used methods that have challenged the US counterterrorism efforts, including establishing state-like governing institutions within their safe havens, deploying sophisticated explosive devices to defeat aviation security measures, and using high-quality media products to recruit extremists in the West, it said.&nbsp;

Future radical Islamist terrorists and other terrorists will continually adapt these and other tactics to their circumstances and the technological advances of the age.&nbsp;

"It is, therefore, critical that the United States counterterrorism posture be agile enough to adapt as well," said the strategy.&nbsp;

Radical Islamist terrorists have a violent extremist ideology that serves to create a common identity and sense of purpose for those susceptible to its core message, it alleged.&nbsp;

"This vile ideology is used to indoctrinate new recruits to accept terrorist groups' goals and directives without question, and also allows these groups to maintain cohesion, ensure conformity, and justify the use of violence to meet the ideology's goals.&nbsp;

"It avails terrorists of a worldview that helps unify their efforts by fomenting conflict and attempts to legitimize terrorism by elevating the social status of group members and absolving individuals from culpability for their participation in violence," it said.

The ISIS, the strategy, said remains the foremost radical Islamist terrorist group and the primary transnational terrorist threat to the US, despite ongoing us and coalition civilian and military efforts that have diminished the group's footprint in Iraq and Syria, killed thousands of its members, and curtailed its global expansion.

"The ISIS retains the financial and material resources and expertise to launch external attacks&nbsp;including against United States interests and its senior leaders continue to call for attacks against the United States," it said.

Meanwhile, al-Qaeda's global network remains resilient and poses an enduring threat to the homeland and United States interests around the world, the strategy said.&nbsp;

Consistent&nbsp;United States-led counterterrorism pressure has removed many of its senior leaders and reduced the group's ability to operate in South Asia, but its affiliates continue to plan and carry out terrorist attacks against the United States and our allies, as well as raise funds from individual supporters through the international financial system, it said.&nbsp;

"Affiliate resources are primarily focused on local and regional conflicts, but key operatives and elements within the network continue to seek out new opportunities to strike the homeland and United States interests and to inspire attacks inside the United States.&nbsp;

"Veteran al-Qaeda leaders are working to consolidate and expand the group's presence in several regions, including in Syria, from which it aspires to launch new attacks against the United States and our allies," said the strategy.&nbsp;

Pakistan-based terrorist outfits -- the Lashkar-e-Taiba (LeT) and Tehrik-i-Taliban Pakistan (TTP) -- are among radical Islamist groups identified as a potential threat to the US in the Trump administration's new counterterrorism strategy.

Pakistan-based terrorist outfits -- the Lashkar-e-Taiba (LeT) and Tehrik-i-Taliban Pakistan (TTP) -- are among radical Islamist groups identified as a potential threat to the US in the Trump administration's new counterterrorism strategy. In addition to the ISIS and al-Qaeda, dozens of other radical Islamist terrorist groups are working to advance more locally focused insurgent or terrorist campaigns, while still posing a threat to United States persons and interests overseas, said the National Strategy for Counter-terrorism released by the White House on Thursday. "These groups, including Boko Haram, Tehrik-e Taliban Pakistan and the Lashkar-e Taiba, employ a range of political and terrorist tactics to undermine local governments and conduct attacks," it said. The LeT is responsible for carrying out the 2008 Mumbai attack that killed 166 people. It has been declared as a foreign terrorist organisation by the US in June 2014. According to the strategy, these organisations will probably prioritise regional goals over attacks against the homeland or United States interests because of resource constraints or political considerations. "However, many of these groups are hostile to the United States, maintain networks of sympathisers around the world, and retain ties to the ISIS or al-Qaeda, underscoring their potential threat to United States interests," said the strategy, according to which radical Islamist terrorists remain the primary transnational terrorist threat to the US and its vital national interests. Prominent terrorist organisations, particularly the ISIS and al-Qaeda, have repeatedly demonstrated the intent and capability to attack the homeland and United States interests and continue to plot new attacks and inspire susceptible people to commit acts of violence inside the United States, it said. "These groups stoke and exploit weak governance, conflict, instability, and longstanding political and religious grievances to pursue their goal of eliminating Western influence in majority Muslim countries and remaking Islamic society," the strategy said. Radical Islamist terrorist groups have developed and used methods that have challenged the US counterterrorism efforts, including establishing state-like governing institutions within their safe havens, deploying sophisticated explosive devices to defeat aviation security measures, and using high-quality media products to recruit extremists in the West, it said. Future radical Islamist terrorists and other terrorists will continually adapt these and other tactics to their circumstances and the technological advances of the age. "It is, therefore, critical that the United States counterterrorism posture be agile enough to adapt as well," said the strategy. Radical Islamist terrorists have a violent extremist ideology that serves to create a common identity and sense of purpose for those susceptible to its core message, it alleged. "This vile ideology is used to indoctrinate new recruits to accept terrorist groups' goals and directives without question, and also allows these groups to maintain cohesion, ensure conformity, and justify the use of violence to meet the ideology's goals. "It avails terrorists of a worldview that helps unify their efforts by fomenting conflict and attempts to legitimize terrorism by elevating the social status of group members and absolving individuals from culpability for their participation in violence," it said. The ISIS, the strategy, said remains the foremost radical Islamist terrorist group and the primary transnational terrorist threat to the US, despite ongoing us and coalition civilian and military efforts that have diminished the group's footprint in Iraq and Syria, killed thousands of its members, and curtailed its global expansion. "The ISIS retains the financial and material resources and expertise to launch external attacks including against United States interests and its senior leaders continue to call for attacks against the United States," it said. Meanwhile, al-Qaeda's global network remains resilient and poses an enduring threat to the homeland and United States interests around the world, the strategy said. Consistent United States-led counterterrorism pressure has removed many of its senior leaders and reduced the group's ability to operate in South Asia, but its affiliates continue to plan and carry out terrorist attacks against the United States and our allies, as well as raise funds from individual supporters through the international financial system, it said. "Affiliate resources are primarily focused on local and regional conflicts, but key operatives and elements within the network continue to seek out new opportunities to strike the homeland and United States interests and to inspire attacks inside the United States. "Veteran al-Qaeda leaders are working to consolidate and expand the group's presence in several regions, including in Syria, from which it aspires to launch new attacks against the United States and our allies," said the strategy.

Trump's counter terrorism strategy identifies LeT, TTP as potential threat to United States

Pakistan has ordered international charity ActionAid, which supports a range of development and women's rights projects, to shut down its operations in the country, the aid group said on Thursday.

A letter from Pakistan's interior ministry sent to ActionAid, and shared with AFP by the group, said it must cease its work within 60 days. No representative of the interior ministry was immediately available for comment.

Pakistan first told ActionAid to leave last year after its application to register under new rules for international NGOs was declined, but the group filed an appeal.

That appeal has been denied but ActionAid can apply for registration again in six months, according to the letter, which was delivered to the organisation on Wednesday.

The aid group called the latest notice "a worrying escalation of recent attacks on civil society, academics and journalists".

"We are taking legal advice on potential next steps. In the meantime we are providing support to our staff and partners on the ground," Adriano Campolina, chief executive of ActionAid International, said in a statement.

Seventeen other international aid organisations fear they will face similar action, a senior official of the Pakistan Humanitarian Forum, an alliance of international NGOs, told AFP on condition of anonymity.

In 2015, Pakistan asked all foreign aid and advocacy organisations to re-register with the government in order to enhance the monitoring of their operations.

And last year, a host of international organisations were asked to wrap up operations.

There has been increasing suspicion of foreign aid groups in Pakistan in recent years.

In 2012, a Pakistani intelligence report linked the aid group Save the Children to the CIA's efforts to locate Al Qaeda chief Osama bin Laden.

Save the Children has always denied it had any links with Afridi or the CIA.

But the charity's expat staff were forced to leave Pakistan after the accusations emerged.

Pakistan has since hardened its policies towards international aid groups, accusing them of being covers for spying operations, and has repeatedly warned them to restrict their activities.&nbsp;

Pakistan has ordered international charity ActionAid, which supports a range of development and women's rights projects, to shut down its operations in the country, the aid group said on Thursday.

Pakistan has ordered international charity ActionAid, which supports a range of development and women's rights projects, to shut down its operations in the country, the aid group said on Thursday. A letter from Pakistan's interior ministry sent to ActionAid, and shared with AFP by the group, said it must cease its work within 60 days. No representative of the interior ministry was immediately available for comment. Pakistan first told ActionAid to leave last year after its application to register under new rules for international NGOs was declined, but the group filed an appeal. That appeal has been denied but ActionAid can apply for registration again in six months, according to the letter, which was delivered to the organisation on Wednesday. The aid group called the latest notice "a worrying escalation of recent attacks on civil society, academics and journalists". "We are taking legal advice on potential next steps. In the meantime we are providing support to our staff and partners on the ground," Adriano Campolina, chief executive of ActionAid International, said in a statement. Seventeen other international aid organisations fear they will face similar action, a senior official of the Pakistan Humanitarian Forum, an alliance of international NGOs, told AFP on condition of anonymity. In 2015, Pakistan asked all foreign aid and advocacy organisations to re-register with the government in order to enhance the monitoring of their operations. And last year, a host of international organisations were asked to wrap up operations. There has been increasing suspicion of foreign aid groups in Pakistan in recent years. In 2012, a Pakistani intelligence report linked the aid group Save the Children to the CIA's efforts to locate Al Qaeda chief Osama bin Laden. Save the Children has always denied it had any links with Afridi or the CIA. But the charity's expat staff were forced to leave Pakistan after the accusations emerged. Pakistan has since hardened its policies towards international aid groups, accusing them of being covers for spying operations, and has repeatedly warned them to restrict their activities.

Pakistan orders international charity ActionAid to leave: NGO

<a href="http://www.wionews.com/world/republicans-aim-to-confirm-kavanaugh-this-weekend-protesters-arrested-169504">Republicans aim to confirm Trump's Supreme Court nominee Kavanaugh this weekend; protesters arrested</a>

President Donald Trump's fellow Republicans gained confidence on Thursday that his US Supreme Court nominee Brett Kavanaugh would win Senate confirmation after two wavering lawmakers&nbsp;responded positively to an FBI report&nbsp;on accusations of sexual misconduct against the judge.

<a href="http://www.wionews.com/india-news/going-extra-length-to-find-substitute-for-iranian-oil-for-countries-like-india-white-house-169509">Going extra length to find </a><a href="http://www.wionews.com/india-news/going-extra-length-to-find-substitute-for-iranian-oil-for-countries-like-india-white-house-169509">substitute</a><a href="http://www.wionews.com/india-news/going-extra-length-to-find-substitute-for-iranian-oil-for-countries-like-india-white-house-169509"> for Iranian oil for countries like India: US</a>

The White House on Thursday said that it's&nbsp;going extra length for countries like India and Iraq to find substitute for Iranian oil.&nbsp;

<a href="http://www.wionews.com/south-asia/us-pushes-pakistan-for-an-effective-campaign-against-terrorist-169513">US</a><a href="http://www.wionews.com/south-asia/us-pushes-pakistan-for-an-effective-campaign-against-terrorist-169513"> pushes Pakistan for an effective campaign against terrorists</a>

The Trump Administration in its meetings with Pakistani Foreign Minister Shah Mahmood Qureshi this week talked about the suspension of security assistance since early this year and the importance that they place on them renewing an effective campaign against terrorists, the White House said.&nbsp;​

<a href="http://www.wionews.com/world/trump-announces-new-national-strategy-for-counterterrorism-169506">Trump announces new National Strategy for Counterterrorism​​​​​​</a>

US President Donald Trump unveiled a new counter-terrorism strategy which issues a tough warning to terrorist groups and their supporters that the United States will defeat its enemies with the full force of American might.​

<a href="http://www.wionews.com/sports/nike-concerned-about-ronaldo-rape-claims-169517">Nike 'concerned' about Ronaldo rape claims</a>

Sportswear maker Nike Inc and video game maker Electronic Arts Inc (EA) said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world's best football players.

&nbsp;

Republicans aim to confirm Trump's Supreme Court nominee Kavanaugh this weekend; protesters arrested President Donald Trump's fellow Republicans gained confidence on Thursday that his US Supreme Court nominee Brett Kavanaugh would win Senate confirmation after two wavering lawmakers responded positively to an FBI report on accusations of sexual misconduct against the judge.

Republicans aim to confirm Trump's Supreme Court nominee Kavanaugh this weekend; protesters arrested President Donald Trump's fellow Republicans gained confidence on Thursday that his US Supreme Court nominee Brett Kavanaugh would win Senate confirmation after two wavering lawmakers responded positively to an FBI report on accusations of sexual misconduct against the judge. Going extra length to find substitute for Iranian oil for countries like India: US The White House on Thursday said that it's going extra length for countries like India and Iraq to find substitute for Iranian oil. US pushes Pakistan for an effective campaign against terrorists The Trump Administration in its meetings with Pakistani Foreign Minister Shah Mahmood Qureshi this week talked about the suspension of security assistance since early this year and the importance that they place on them renewing an effective campaign against terrorists, the White House said. Trump announces new National Strategy for Counterterrorism US President Donald Trump unveiled a new counter-terrorism strategy which issues a tough warning to terrorist groups and their supporters that the United States will defeat its enemies with the full force of American might. Nike 'concerned' about Ronaldo rape claims Sportswear maker Nike Inc and video game maker Electronic Arts Inc (EA) said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world's best football players.

News brief: Big stories of the day

The International Monetary Fund has called on Pakistan’s new government to act fast to stabilise its teetering economy, warning growth will likely slow and inflation rise, but made no mention of a new bailout deal.

Former cricketer Imran Khan’s new administration had vowed to decide by the end of September if it would seek an IMF bailout to shore up the economy as it faces a balance-of-payments crisis and dwindling reserves.

However, it has yet to announce a deal as its seeks other arenas of financing and launched a highly publicised austerity drive that has included auctioning off government-owned luxury automobiles and buffaloes.

The IMF said in a statement released late Thursday that Pakistan was in need of significant external financing in the near term and recommended upping gas and power tariffs while also pushing for exchange rate “flexibility” and monetary policy tightening.

“These steps would help reduce current account pressures and improve debt sustainability,” said the fund in a statement.

But it warned that tough days may lay ahead as higher oil prices and tightening financial conditions for emerging markets will likely add to Pakistan's economic woes.&nbsp;

"In this environment, economic growth will likely slow significantly, and inflation will rise," said the IMF.&nbsp;

Pakistan has gone to the IMF repeatedly since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis.

For months analysts have warned Khan’s new government must act quickly to stem a new current account crisis, which could undermine its currency and its ability to repay billions in debts or purchase imports.

The US, one of the IMF's biggest donors, has raised fears Pakistan could use any bailout money to repay mounting loans from China, sparking criticism from Islamabad.

Pakistan’s budget deficit has climbed steadily over the past five years, and foreign currency reserves have declined. The rupee has been repeatedly devalued in the past year, fuelling inflation.

Khan has vowed to improve trade with India, increase the ease of doing business and boost tax collection but since taking office in August is yet to roll out a comprehensive plan aimed at tackling the country’s economic fortunes.

The state of Pakistan's finances could also undermine one of Khan's most popular promises to construct an "Islamic welfare state" based on increased spending on education and health.

The IMF's warnings come days after the Asian Development Bank said Pakistan’s economy could shrink by one per cent in the current fiscal year.&nbsp;

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The International Monetary Fund has called on Pakistan’s new government to act fast to stabilise its teetering economy, warning growth will likely slow and inflation rise, but made no mention of a new bailout deal.

The International Monetary Fund has called on Pakistan’s new government to act fast to stabilise its teetering economy, warning growth will likely slow and inflation rise, but made no mention of a new bailout deal. Former cricketer Imran Khan’s new administration had vowed to decide by the end of September if it would seek an IMF bailout to shore up the economy as it faces a balance-of-payments crisis and dwindling reserves. However, it has yet to announce a deal as its seeks other arenas of financing and launched a highly publicised austerity drive that has included auctioning off government-owned luxury automobiles and buffaloes. The IMF said in a statement released late Thursday that Pakistan was in need of significant external financing in the near term and recommended upping gas and power tariffs while also pushing for exchange rate “flexibility” and monetary policy tightening. “These steps would help reduce current account pressures and improve debt sustainability,” said the fund in a statement. But it warned that tough days may lay ahead as higher oil prices and tightening financial conditions for emerging markets will likely add to Pakistan's economic woes. "In this environment, economic growth will likely slow significantly, and inflation will rise," said the IMF. Pakistan has gone to the IMF repeatedly since the late 1980s. The last time was in 2013, when Islamabad got a $6.6 billion loan to tackle a similar crisis. For months analysts have warned Khan’s new government must act quickly to stem a new current account crisis, which could undermine its currency and its ability to repay billions in debts or purchase imports. The US, one of the IMF's biggest donors, has raised fears Pakistan could use any bailout money to repay mounting loans from China, sparking criticism from Islamabad. Pakistan’s budget deficit has climbed steadily over the past five years, and foreign currency reserves have declined. The rupee has been repeatedly devalued in the past year, fuelling inflation. Khan has vowed to improve trade with India, increase the ease of doing business and boost tax collection but since taking office in August is yet to roll out a comprehensive plan aimed at tackling the country’s economic fortunes. The state of Pakistan's finances could also undermine one of Khan's most popular promises to construct an "Islamic welfare state" based on increased spending on education and health. The IMF's warnings come days after the Asian Development Bank said Pakistan’s economy could shrink by one per cent in the current fiscal year. ×

IMF calls for more action in Pakistan, but no word on bailout

Amidst the chill in bilateral ties, Pakistan cancelled at the last minute Indian envoy Ajay Bisaria's scheduled lecture at a training institute here for not taking prior permission from the Foreign Office, according to sources.&nbsp;

An official privy to the development told PTI on Friday that Indian High Commissioner Bisaria was invited by the National School of Public Policy (NSPP) to deliver a lecture on Thursday.&nbsp;

The institution that imparts training to civil servants invites academicians, professionals and dignitaries for guest lectures on a regular basis.&nbsp;

"The NSPP Lahore had invited Mr Bisaria for the guest lecture for October 4 but the Indian High Commission was informed that his lecture has been cancelled. The commission will be informed on re-scheduling of his lecture," he said.

Sources further informed that the NSPP management had to cancel Bisaria's lecture after receiving orders from the top.&nbsp;

"The management was told that in case of inviting any ambassador for a guest lecture, at least permission is required from the Foreign Office,? he said.&nbsp;

Earlier, Bisaria was also stopped from visiting Gurdwara Punja Sahib in Hasan Abdal. The Pakistani government had claimed that Bisaria was stopped from visiting the gurdwara because of security reasons as Sikh yatris from India did not want to meet him.

The ties between the two countries had strained after the terror attacks by Pakistan-based groups in 2016 and India's surgical strikes inside Pakistan-occupied Kashmir.&nbsp;

Last month, India called off a meeting between the foreign ministers of the two countries in New York, citing the brutal killings of three policemen in Jammu and Kashmir and Islamabad releasing postage stamps "glorifying" Kashmiri militant Burhan Wani.&nbsp;

Pakistan yesterday said that the opening of the Kartarpur border crossing for Sikh pilgrims was linked with the start of dialogue between India and Pakistan.&nbsp;

Amidst the chill in bilateral ties, Pakistan cancelled at the last minute Indian envoy Ajay Bisaria's scheduled lecture at a training institute here for not taking prior permission from the Foreign Office, according to sources.

Amidst the chill in bilateral ties, Pakistan cancelled at the last minute Indian envoy Ajay Bisaria's scheduled lecture at a training institute here for not taking prior permission from the Foreign Office, according to sources. An official privy to the development told PTI on Friday that Indian High Commissioner Bisaria was invited by the National School of Public Policy (NSPP) to deliver a lecture on Thursday. The institution that imparts training to civil servants invites academicians, professionals and dignitaries for guest lectures on a regular basis. "The NSPP Lahore had invited Mr Bisaria for the guest lecture for October 4 but the Indian High Commission was informed that his lecture has been cancelled. The commission will be informed on re-scheduling of his lecture," he said. Sources further informed that the NSPP management had to cancel Bisaria's lecture after receiving orders from the top. "The management was told that in case of inviting any ambassador for a guest lecture, at least permission is required from the Foreign Office,? he said. Earlier, Bisaria was also stopped from visiting Gurdwara Punja Sahib in Hasan Abdal. The Pakistani government had claimed that Bisaria was stopped from visiting the gurdwara because of security reasons as Sikh yatris from India did not want to meet him. The ties between the two countries had strained after the terror attacks by Pakistan-based groups in 2016 and India's surgical strikes inside Pakistan-occupied Kashmir. Last month, India called off a meeting between the foreign ministers of the two countries in New York, citing the brutal killings of three policemen in Jammu and Kashmir and Islamabad releasing postage stamps "glorifying" Kashmiri militant Burhan Wani. Pakistan yesterday said that the opening of the Kartarpur border crossing for Sikh pilgrims was linked with the start of dialogue between India and Pakistan.

Pakistan cancels Indian envoy's Ajay Bisaria lecture in Lahore

Pakistan has asked India to immediately share the data showing inflow and discharge of water at the Kishanganga dam in Jammu and Kashmir and sought a date for its inspection, according to a media report.&nbsp;

During the 115th meeting of the Permanent Commission for Indus Waters, India had agreed to allow Pakistan to inspect the projects built on the Jhelum basin, including Kishanganga hydroelectric project.

Islamabad had also agreed to allow New Delhi to carry out inspection of the Kotri barrage over the Indus River.&nbsp;

"We recently asked Indian authorities for Indus waters in writing to give us dates for inspection of the Kishanganga dam as soon as possible. Through the letter, we have also pressed Indian authorities to immediately share the data concerning flows of water at the river and releases/discharges, in/outflows at the dam with us under the relevant provisions of the Indus Water Treaty," Dawn newspaper quoted Pakistan's Commissioner for Indus Waters Syed Muhammad Mehr Ali Shah as saying.

"We are receiving water at Jhelum basin in our territory, but to ascertain our need or requirement we need data India is obligated to share with us time to time," he said.&nbsp;

Besides Kishanganga, India had also agreed to let Pakistani experts inspect sites of two hydropower projects 1,000MW Pakal Dul and 48MW Lower Kalnal at Chenab basin by the end of September.

According to the report, Indian authorities had confirmed October 7 to 11 as dates for inspection of the projects by a three-member Pakistani team, headed by the Indus water commissioner. But finally, it postponed the inspection on the pretext of local elections in held Kashmir.

Shah said that Pakistani authorities wanted to have a detailed tour of the Kishanganga project since Pakistan had already raised various objections on its design and construction.

Pakistan has already approached the World Bank, demanding constitution of a seven-member court of arbitration to address its concerns. On the other hand, India wants a neutral expert over the issue.

However in June this year, the World Bank reportedly requested Pakistan to stand down from pursuing its stand of referring to the Kishanganga dam dispute to the court of arbitration and instead accept India's offer of appointing a neutral expert, but Pakistan didn't do so and stuck to its stance to date.&nbsp;

He said that Pakistan had also written a letter to Indian authorities to give dates for inspection of Pakal Dul and Lower Kalnal projects at Chenab basin.&nbsp;

Pakistan has asked India to immediately share the data showing inflow and discharge of water at the Kishanganga dam in Jammu and Kashmir and sought a date for its inspection, according to a media report.

Pakistan has asked India to immediately share the data showing inflow and discharge of water at the Kishanganga dam in Jammu and Kashmir and sought a date for its inspection, according to a media report. During the 115th meeting of the Permanent Commission for Indus Waters, India had agreed to allow Pakistan to inspect the projects built on the Jhelum basin, including Kishanganga hydroelectric project. Islamabad had also agreed to allow New Delhi to carry out inspection of the Kotri barrage over the Indus River. "We recently asked Indian authorities for Indus waters in writing to give us dates for inspection of the Kishanganga dam as soon as possible. Through the letter, we have also pressed Indian authorities to immediately share the data concerning flows of water at the river and releases/discharges, in/outflows at the dam with us under the relevant provisions of the Indus Water Treaty," Dawn newspaper quoted Pakistan's Commissioner for Indus Waters Syed Muhammad Mehr Ali Shah as saying. "We are receiving water at Jhelum basin in our territory, but to ascertain our need or requirement we need data India is obligated to share with us time to time," he said. Besides Kishanganga, India had also agreed to let Pakistani experts inspect sites of two hydropower projects 1,000MW Pakal Dul and 48MW Lower Kalnal at Chenab basin by the end of September. According to the report, Indian authorities had confirmed October 7 to 11 as dates for inspection of the projects by a three-member Pakistani team, headed by the Indus water commissioner. But finally, it postponed the inspection on the pretext of local elections in held Kashmir. Shah said that Pakistani authorities wanted to have a detailed tour of the Kishanganga project since Pakistan had already raised various objections on its design and construction. Pakistan has already approached the World Bank, demanding constitution of a seven-member court of arbitration to address its concerns. On the other hand, India wants a neutral expert over the issue. However in June this year, the World Bank reportedly requested Pakistan to stand down from pursuing its stand of referring to the Kishanganga dam dispute to the court of arbitration and instead accept India's offer of appointing a neutral expert, but Pakistan didn't do so and stuck to its stance to date. He said that Pakistan had also written a letter to Indian authorities to give dates for inspection of Pakal Dul and Lower Kalnal projects at Chenab basin.

Pakistan asks India to share data of water inflow and discharge at Kishanganga dam

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

Islamabad is seeking an American role in facilitating <a href="http://www.wionews.com/south-asia/pm-imran-writes-to-modi-calls-for-resuming-comprehensive-bilateral-dialogue-process-166775">talks between India and Pakistan</a> because the two neighbouring countries are not engaging bilaterally, Pakistan's Foreign Minister Shah Mahmood Qureshi has said, warning that absence of such a facilitation could lead to escalation of tension.

But the latest Pakistani request in this regard has again been rejected by the US, the top Pakistani diplomat told a Washington audience on Wednesday, a day after he had meetings with US Secretary of State Mike Pompeo and National Security Advisor John Bolton, during which he raised the issue only to be pushed back by the Trump administration.

"When we asked the US, to play a facilitating role...Why do we ask? Simply because we are not engaging bilaterally. And that bilateral disengagement is...a distraction. We want to focus, we want to move on the western side of the border, which we are not being able to because we have to watch our back from eastern side (towards India). That is not a healthy situation to be in," Mr Qureshi said in response to a question at the US Institute of Peace, a US Congress-funded top American think-tank.

"Now can you (United States) facilitate? The answer from them is no. They wanted (it done) bilaterally. But there is no bilateral movement," Mr Qureshi said. He went on to warn that this could lead to an escalation of tension between the two countries.

"If that lack of facilitation leads to escalation and some of the statements that have come out of late have not been very helpful," the Pakistani foreign minister said in an apparent reference to the remarks by Indian leaders; "the so-called surgical strikes and stuff like that doesn't make sense. It does not, that's politics.. there are elections around the corner," he claimed in response to a question.

Imran Khan's new government in Pakistan, he claimed, is not shy of engaging.

Referring to the cancelling of his meeting with External Affairs Minister Sushma Swaraj in New York, he alleged that India backed off. However, he quickly evaded India's reasons for this glorification of terrorists by issuing postal stamps and brutal killing of India's security personnel by Pakistan-backed terrorists.

"If the Indians have a better option, share it with us. If disengagement, if not talking to each other will resolve and stabilise the region, fine. If that's their analysis fine, a hassled Mr Qureshi said.

Mr Qureshi who left for Pakistan after his meetings with Trump administration officials said it is unfortunate that the two countries are not engaging. "It's unfortunate. That's the way it is. Now. What does this government want? We want normalisation. We want co-existence. You've got to recognise the reality. Pakistan is a reality. So is India. We have issues. How do we resolve them?" he asked.

After coming to power, the first speech made by the Prime Minister Khan was "that every step you (India) take towards peace, we will take two. And he meant it. It wasn't just because it sounded good. It wasn't to please anyone. He is too blunt a person to please people. He can be very straight and he can be very blunt. But he said that because he feels that way," Mr Qureshi claimed.

India has highlighted how Pakistan created the conditions for cancellation of the meeting in New York - due to Pakistan issuing postage stamps glorifying terrorists and the brutal killing of three of its security personnel by Pakistan-backed terrorists.

The Pakistan foreign minister did not mention that in his answer and only said that the stalled dialogue process is not good for the two countries and the region.

Responding to a question on India's stand that talks and terrorism cannot go together, a view which is shared by Washington too, Mr Qureshi referred to a statement by Imran Khan while he was an opposition leader and met Prime Minister Narendra Modi during a visit to New Delhi that "there would always be spoilers."

"There will always be spoilers. There will always be elements that will scuttle the process of peace. But when they do that, let us re-engage to fight them. They will push us back. But we have to see what is in our interest, what is in the regional interest. What's in Pakistan's interest," Mr Qureshi said quoting what Imran Khan had told Prime Minister Modi.

Islamabad is seeking an American role in facilitating talks between India and Pakistan because the two neighbouring countries are not engaging bilaterally, Pakistan's Foreign Minister Shah Mahmood Qureshi has said, warning that absence of such a facilitation could lead to escalation of tension.

Islamabad is seeking an American role in facilitating talks between India and Pakistan because the two neighbouring countries are not engaging bilaterally, Pakistan's Foreign Minister Shah Mahmood Qureshi has said, warning that absence of such a facilitation could lead to escalation of tension. But the latest Pakistani request in this regard has again been rejected by the US, the top Pakistani diplomat told a Washington audience on Wednesday, a day after he had meetings with US Secretary of State Mike Pompeo and National Security Advisor John Bolton, during which he raised the issue only to be pushed back by the Trump administration. "When we asked the US, to play a facilitating role...Why do we ask? Simply because we are not engaging bilaterally. And that bilateral disengagement is...a distraction. We want to focus, we want to move on the western side of the border, which we are not being able to because we have to watch our back from eastern side (towards India). That is not a healthy situation to be in," Mr Qureshi said in response to a question at the US Institute of Peace, a US Congress-funded top American think-tank. "Now can you (United States) facilitate? The answer from them is no. They wanted (it done) bilaterally. But there is no bilateral movement," Mr Qureshi said. He went on to warn that this could lead to an escalation of tension between the two countries. "If that lack of facilitation leads to escalation and some of the statements that have come out of late have not been very helpful," the Pakistani foreign minister said in an apparent reference to the remarks by Indian leaders; "the so-called surgical strikes and stuff like that doesn't make sense. It does not, that's politics.. there are elections around the corner," he claimed in response to a question. Imran Khan's new government in Pakistan, he claimed, is not shy of engaging. Referring to the cancelling of his meeting with External Affairs Minister Sushma Swaraj in New York, he alleged that India backed off. However, he quickly evaded India's reasons for this glorification of terrorists by issuing postal stamps and brutal killing of India's security personnel by Pakistan-backed terrorists. "If the Indians have a better option, share it with us. If disengagement, if not talking to each other will resolve and stabilise the region, fine. If that's their analysis fine, a hassled Mr Qureshi said. Mr Qureshi who left for Pakistan after his meetings with Trump administration officials said it is unfortunate that the two countries are not engaging. "It's unfortunate. That's the way it is. Now. What does this government want? We want normalisation. We want co-existence. You've got to recognise the reality. Pakistan is a reality. So is India. We have issues. How do we resolve them?" he asked. After coming to power, the first speech made by the Prime Minister Khan was "that every step you (India) take towards peace, we will take two. And he meant it. It wasn't just because it sounded good. It wasn't to please anyone. He is too blunt a person to please people. He can be very straight and he can be very blunt. But he said that because he feels that way," Mr Qureshi claimed. India has highlighted how Pakistan created the conditions for cancellation of the meeting in New York - due to Pakistan issuing postage stamps glorifying terrorists and the brutal killing of three of its security personnel by Pakistan-backed terrorists. The Pakistan foreign minister did not mention that in his answer and only said that the stalled dialogue process is not good for the two countries and the region. Responding to a question on India's stand that talks and terrorism cannot go together, a view which is shared by Washington too, Mr Qureshi referred to a statement by Imran Khan while he was an opposition leader and met Prime Minister Narendra Modi during a visit to New Delhi that "there would always be spoilers." "There will always be spoilers. There will always be elements that will scuttle the process of peace. But when they do that, let us re-engage to fight them. They will push us back. But we have to see what is in our interest, what is in the regional interest. What's in Pakistan's interest," Mr Qureshi said quoting what Imran Khan had told Prime Minister Modi.

Pakistan asked US to facilitate talks with India, they said no

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