Ahead of the crucial polls, Pakistan's ruling coalition partner PPP and PML-N do not appear to be on the same page. Watch this report to know more.

Reports: Ahead of key polls, Bhutto hints at no tie-up with Sharif's party

Amid a financial crunch in Pakistan, the government has banned&nbsp;business class travel&nbsp;and&nbsp;five-star hotel stays&nbsp;abroad for ministers. This comes as the South Asian country is trying to revive a $6.5 billion IMF bailout.&nbsp;

Prime Minister Shehbaz Sharif after a cabinet meeting on Wednesday said that the government will follow up with further austerity measures in the next budget in July this year. "This is need of the hours."

<a href="https://www.wionews.com/trending/watch-pakistan-man-thinks-country-would-have-been-different-if-narendra-modi-was-the-prime-minister-565269">Also read |&nbsp;WATCH: Pakistan man thinks his country would have been different had Narendra Modi been its PM</a>

"We have to show what the time demands from us and that’s austerity, simplicity and sacrifice," he added.&nbsp;

The country unveiled $764 million of cost-cutting measures, to which ministers are also voluntarily contributing. Sharif said that many federal and state officials besides high-ranking officials have volunteered to forgo their salaries and perks.&nbsp;

He added that the government has also banned the purchase of luxury items and cars until next year, as part of the cost-cut measures.

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World's fifth most populous country, with a $350 billion economy, has been facing a dangerous financial crunch, with just $3 billion of foreign-exchange reserves as per estimates, and also faces a dollar squeeze.&nbsp;

The Parliament earlier this week voted to roll out increased taxes on commodities.&nbsp;

As per Bloomberg Economics, the inflation rate in the country might reach over 30 per cent following a disrupted supply chain after flooding, talks with IMF, where the monetary organisation called on to scrap subsidies and enable a market-determined exchange rate.&nbsp;

According to the media outlet, Pakistan faces $542.5 million in coupon repayments this year.&nbsp;

(with inputs from agencies)

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Amid a financial crunch in Pakistan, the government has banned business class travel and five-star hotel stays abroad for ministers. This comes as the South Asian country is trying to revive a $6.

Amid a financial crunch in Pakistan, the government has banned business class travel and five-star hotel stays abroad for ministers. This comes as the South Asian country is trying to revive a $6.5 billion IMF bailout. Prime Minister Shehbaz Sharif after a cabinet meeting on Wednesday said that the government will follow up with further austerity measures in the next budget in July this year. "This is need of the hours." Also read | WATCH: Pakistan man thinks his country would have been different had Narendra Modi been its PM "We have to show what the time demands from us and that’s austerity, simplicity and sacrifice," he added. The country unveiled $764 million of cost-cutting measures, to which ministers are also voluntarily contributing. Sharif said that many federal and state officials besides high-ranking officials have volunteered to forgo their salaries and perks. He added that the government has also banned the purchase of luxury items and cars until next year, as part of the cost-cut measures. Also read | Afghanistan: Pakistan, Taliban officials hold talks on 'terrorism threat' following deadly attacks World's fifth most populous country, with a $350 billion economy, has been facing a dangerous financial crunch, with just $3 billion of foreign-exchange reserves as per estimates, and also faces a dollar squeeze. The Parliament earlier this week voted to roll out increased taxes on commodities. As per Bloomberg Economics, the inflation rate in the country might reach over 30 per cent following a disrupted supply chain after flooding, talks with IMF, where the monetary organisation called on to scrap subsidies and enable a market-determined exchange rate. According to the media outlet, Pakistan faces $542.5 million in coupon repayments this year. (with inputs from agencies) WATCH WION LIVE HERE Live TV

Pakistan: No business class flights, five-star stays for ministers amid financial crunch

Pakistan Prime Minister Shehbaz Sharif has announced an austerity drive for all the ministers. The goals of the drive is to reduce State spending by nearly $766 million each year. PM Sharif requested his advisors and ministers to fly economy class, forgo luxury travel, and take salary cuts as part of the drive.

Pakistan Prime Minister Shehbaz Sharif aims to reduce spending by $766 mn a year

Pakistan announces austerity drive: PM Sharif orders 15% cut in expenses

Pakistan's economy is in a dire strait, rating agency - Fitch - has downgraded Pakistan's currency issue. A default rating to CCC (-) to CCC (+). This while the Parliament has called a session as it desperately needs to secure IMF bailout.

Pakistan Economic Crisis: Fitch downgrades Pakistan's currency ratings

Pakistan and the International Monetary Fund (IMF) on Monday resumed their talks virtually, with Islamabad hoping that the discussion will help it ease pressure on the country's ailing economy. Islamabad's Finance Secretary Hamed Yaqoob Sheikh told Reuters that the duration of the talks cannot be confirmed but intend to finish the talks at the soonest.&nbsp;

The South Asian country had held talks with the IMF for 10 days in Islamabad from Jan 31 to Feb 09, but both didn't reach a deal, Dawn reported.&nbsp;&nbsp;

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Though, IMF in a statement said that both have agreed to stay engaged in virtual discussions in the coming days to finalise the implementation details.&nbsp;

The talks between the two focused on the ninth review of IMF's Extended Fund Facility (EFF) arrangement with Pakistan that was concluded in 2019. The international organisation appreciated Prime Minister Sharif's commitment to implement policies need to safeguard the economic stability of the country and described the community as 'constructive.'

The IMF also highlighted the key priorities discussed which included increasing revenue, reducing untargeted subsidies and scaling up social protection programmes.&nbsp;

<a href="https://www.wionews.com/south-asia/pakistanis-struggle-with-skyrocketing-milk-and-chicken-prices-as-inflation-tops-48-year-high-561693">Also read |&nbsp;Pakistanis struggle with skyrocketing milk and chicken prices as inflation tops 48-year high</a>

Former FBR chairman Shbbar Zaidi in a tweet said that Pakistan do not have any choice other than IMF and that all stakeholders have to be on board. Biggest stake is Pakistan.&nbsp;

He also said, " However the impression that politics &amp; political considerations are overriding economics to be removed. We cannot wait. Why delay?"

Pakistan's international bonds slipped again on Monday after it suffered sharp falls on Friday following news that a deal with the fund had still to be reached.&nbsp;

(With inputs from agencies)

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Pakistan and the International Monetary Fund (IMF) on Monday resumed their talks virtually, with Islamabad hoping that the discussion will help it ease pressure on the country's ailing economy.

Pakistan and the International Monetary Fund (IMF) on Monday resumed their talks virtually, with Islamabad hoping that the discussion will help it ease pressure on the country's ailing economy. Islamabad's Finance Secretary Hamed Yaqoob Sheikh told Reuters that the duration of the talks cannot be confirmed but intend to finish the talks at the soonest. The South Asian country had held talks with the IMF for 10 days in Islamabad from Jan 31 to Feb 09, but both didn't reach a deal, Dawn reported. Also read | Pakistan orders its European embassies to NOT issue visas to Afghan nationals Though, IMF in a statement said that both have agreed to stay engaged in virtual discussions in the coming days to finalise the implementation details. The talks between the two focused on the ninth review of IMF's Extended Fund Facility (EFF) arrangement with Pakistan that was concluded in 2019. The international organisation appreciated Prime Minister Sharif's commitment to implement policies need to safeguard the economic stability of the country and described the community as 'constructive.' The IMF also highlighted the key priorities discussed which included increasing revenue, reducing untargeted subsidies and scaling up social protection programmes. Also read | Pakistanis struggle with skyrocketing milk and chicken prices as inflation tops 48-year high Former FBR chairman Shbbar Zaidi in a tweet said that Pakistan do not have any choice other than IMF and that all stakeholders have to be on board. Biggest stake is Pakistan. He also said, " However the impression that politics & political considerations are overriding economics to be removed. We cannot wait. Why delay?" Pakistan's international bonds slipped again on Monday after it suffered sharp falls on Friday following news that a deal with the fund had still to be reached. (With inputs from agencies) WATCH WION LIVE HERE

IMF and Pakistan resume talks virtually for bailout funds

In view of the crippling economic crisis in Pakistan, the Prime Minister Shehbaz Sharif's austerity committee has made some recommendations where it is now asked Pakistan's missions abroad to cut costs.

Pakistan economic crisis: Austerity panel recommends 15% expense cut on abroad missions

A breather for cash-strapped Pakistan as the country's economy is in doldrums, the people are suffering with no quick fix in sight. Meanwhile, Pakistani broadcaster Geo News said that Shehbaz Sharif has approved the deal with the International Monetary Fund (IMF).

A breather for cash-strapped Pakistan as PM Shehbaz Sharif approves deal with IMF

Pakistan and the International Monetary Fund (IMF) is said to have reached an "agreement" unlocking over a $1 billion loan tranche under Extended Fund Facility (EFF) that had been stalled for the last five months, the country's local media outlet Geo News reported.&nbsp;&nbsp;

Secretary of Finance Hamed Sheikh, in a statement released late Thursday night, said that "an agreement has already been struck with the IMF on prerequisite measures”.&nbsp;He added that the IMF mission which is headed by Nathan Porter will now release a detailed statement after getting approval from Washington.

"The negotiations with the IMF have been completed. The IMF has handed over the MEFP [Memorandum of Economic and Financial Policies] document [to Pakistan]," he added.

This loan tranche is part of a $6 billion bailout package which former Pakistani PM Imran Khan signed in 2019. The multibillion-dollar bailout package was signed to help Pakistan's crippling economy. However, since then the package has been delayed after the controversy over $1.5 billion subsidy package announced by Khan which IMF asked how Pakistan will fund.&nbsp;

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The agreement can be seen as a massive relief to Pakistan's cash-strapped economy. It comes after 10 days of "tough" talks. The IMF mission has been in Islamabad since 31 January and has been engaging with the Pakistani government over the bailout package negotiations.&nbsp;

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Earlier in the day, while sharing an update on the talks, the country's Finance Minister Ishaq Dar gave a positive signal saying the talks were "on track."&nbsp;Pakistan's economic state continues to remain in a dire state with high inflation, currency depreciation, and slumping of foreign exchange reserves to $2.91 billion.

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After the subsidy fiasco under the Imran government, the programme was stalled but the incumbent coalition government led by Shehbaz Sharif resumed the programme. In August, Pakistan received around $1.17 billion under the seventh and eighth reviews of the Extended Fund Facility (EFF).

However, the programme had again hit a snag in September after failed negotiations.&nbsp;

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Pakistan and the International Monetary Fund (IMF) is said to have reached an "agreement" unlocking over a $1 billion loan tranche under Extended Fund Facility (EFF) that had been stalled for the last five months, the country's local media outlet Geo News reported.

Pakistan and the International Monetary Fund (IMF) is said to have reached an "agreement" unlocking over a $1 billion loan tranche under Extended Fund Facility (EFF) that had been stalled for the last five months, the country's local media outlet Geo News reported. Secretary of Finance Hamed Sheikh, in a statement released late Thursday night, said that "an agreement has already been struck with the IMF on prerequisite measures”. He added that the IMF mission which is headed by Nathan Porter will now release a detailed statement after getting approval from Washington. "The negotiations with the IMF have been completed. The IMF has handed over the MEFP [Memorandum of Economic and Financial Policies] document [to Pakistan]," he added. This loan tranche is part of a $6 billion bailout package which former Pakistani PM Imran Khan signed in 2019. The multibillion-dollar bailout package was signed to help Pakistan's crippling economy. However, since then the package has been delayed after the controversy over $1.5 billion subsidy package announced by Khan which IMF asked how Pakistan will fund. Also Read | Animal Rights advocates ask US government to probe Elon Musk's Neuralink The agreement can be seen as a massive relief to Pakistan's cash-strapped economy. It comes after 10 days of "tough" talks. The IMF mission has been in Islamabad since 31 January and has been engaging with the Pakistani government over the bailout package negotiations. Also Read | Meet Ghost, a four-year-old bull terrier mix who was living with coyote pack in Nevada Earlier in the day, while sharing an update on the talks, the country's Finance Minister Ishaq Dar gave a positive signal saying the talks were "on track." Pakistan's economic state continues to remain in a dire state with high inflation, currency depreciation, and slumping of foreign exchange reserves to $2.91 billion. Watch | US: Aftermath of China's spy balloon After the subsidy fiasco under the Imran government, the programme was stalled but the incumbent coalition government led by Shehbaz Sharif resumed the programme. In August, Pakistan received around $1.17 billion under the seventh and eighth reviews of the Extended Fund Facility (EFF). However, the programme had again hit a snag in September after failed negotiations. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Pakistan, IMF strike agreement on stalled bailout package, official announcement expected soon

The International Monetary Fund (IMF) and Pakistan have failed to reach a clear agreement to unlock the crucial $1.1 billon in terms of bailout funds and this comes just hours after local media had reported that all matters had been settled and the Prime Minister Shehbaz Sharif has also approved the deal.

IMF delegation in Pakistan to discuss bailout fund, seeks more time to conclude deal

Pakistani Prime Minister Shehbaz Sharif and Foreign Minister Bilawal Bhutto Zardari will visit Ankara on Wednesday to "express his condolences" to Turkey following Monday's deadly earthquakes.

Pak PM Nawaz Sharif and FM Bilawal Bhutto to visit Ankara

Pakistani Prime Minister Shehbaz Sharif on Monday ordered the immediate restoration of the Wikipedia website that was banned by the country's telecom regulator last week citing failure to remove "sacrilegious content."&nbsp;Pakistan Telecommunication Authority (PTA) on Wednesday warned Wikipedia of blocking its services if it failed to adhere to their order.&nbsp;

“The action was taken because some of the content is still available on Wikipedia after the expiry of a 48-hour deadline,” Malahat Obaid, spokesperson for Pakistan Telecommunication Authority, told Bloomberg.

Even before the blanket ban of the website, the country's telecom authority degraded Wikipedia services countrywide.&nbsp;In the most recent development, the Prime Minister's Office (PMO) handout published on February 6 stated that Shehbaz held&nbsp;discussions with&nbsp;a committee of the ministries to conduct an initial investigation.

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The handout also said that the committee met and that its members discussed how Wikipedia supported the dissemination of knowledge and information for the public, students, and the academics. “Blocking the site in its entirety was not a suitable measure to restrict access to some objectionable content,” the PMO statement said. “The unintended consequences of this blanket ban, therefore, outweigh its benefits.”

After committee's recommendations, PM Shehbaz ordered the website's quick restoration and established a special cabinet committee including the ministries of law, information, commerce, and communication under the leadership of Aminul Haque, the IT minister.

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In addition, the committee would consider&nbsp;social, cultural, and religious sensibilities&nbsp;while considering alternative technological means for the deletion or banning of undesirable content on Wikipedia and other online information sites.

Wikimedia Foundation in its argument said that it does not make choices about what information is allowed on Wikipedia or how that content is maintained as it is&nbsp;"by design" to ensure&nbsp;that articles are the result&nbsp;of many individuals coming together to choose what information should be provided on the web, resulting in "richer", more unbiased articles.&nbsp;

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“We believe that access to knowledge is a human right. A block of Wikipedia in Pakistan denies the fifth most populous nation in the world access to the largest free knowledge repository. If it continues, it will also deprive everyone access to Pakistan’s history and culture,” it had said.

It added, “We hope that the Pakistan government joins with the Wikimedia Foundation in a commitment to knowledge as a human right and restores access to Wikipedia and Wikimedia projects promptly, so that the people of Pakistan can continue to receive and share knowledge with the world.”

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Pakistani Prime Minister Shehbaz Sharif on Monday ordered the immediate restoration of the Wikipedia website that was banned by the country's telecom regulator last week citing failure to remove "sacrilegious content.

Pakistani Prime Minister Shehbaz Sharif on Monday ordered the immediate restoration of the Wikipedia website that was banned by the country's telecom regulator last week citing failure to remove "sacrilegious content." Pakistan Telecommunication Authority (PTA) on Wednesday warned Wikipedia of blocking its services if it failed to adhere to their order. “The action was taken because some of the content is still available on Wikipedia after the expiry of a 48-hour deadline,” Malahat Obaid, spokesperson for Pakistan Telecommunication Authority, told Bloomberg. Even before the blanket ban of the website, the country's telecom authority degraded Wikipedia services countrywide. In the most recent development, the Prime Minister's Office (PMO) handout published on February 6 stated that Shehbaz held discussions with a committee of the ministries to conduct an initial investigation. Also Read | Pakistan's former president Pervez Musharraf’s mortal remains brought to Karachi The handout also said that the committee met and that its members discussed how Wikipedia supported the dissemination of knowledge and information for the public, students, and the academics. “Blocking the site in its entirety was not a suitable measure to restrict access to some objectionable content,” the PMO statement said. “The unintended consequences of this blanket ban, therefore, outweigh its benefits.” After committee's recommendations, PM Shehbaz ordered the website's quick restoration and established a special cabinet committee including the ministries of law, information, commerce, and communication under the leadership of Aminul Haque, the IT minister. Also Read | These nations, global organisations pledged support to Turkiye in its quake relief efforts In addition, the committee would consider social, cultural, and religious sensibilities while considering alternative technological means for the deletion or banning of undesirable content on Wikipedia and other online information sites. Wikimedia Foundation in its argument said that it does not make choices about what information is allowed on Wikipedia or how that content is maintained as it is "by design" to ensure that articles are the result of many individuals coming together to choose what information should be provided on the web, resulting in "richer", more unbiased articles. Watch | Turkiye and Syria struck by powerful earthquakes “We believe that access to knowledge is a human right. A block of Wikipedia in Pakistan denies the fifth most populous nation in the world access to the largest free knowledge repository. If it continues, it will also deprive everyone access to Pakistan’s history and culture,” it had said. It added, “We hope that the Pakistan government joins with the Wikimedia Foundation in a commitment to knowledge as a human right and restores access to Wikipedia and Wikimedia projects promptly, so that the people of Pakistan can continue to receive and share knowledge with the world.” WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'Blanket ban not suitable': Pakistan PM Shehbaz Sharif orders immediate restoration of Wikipedia

Pakistan's Prime Minister Shehbaz Sharif on Friday said that the government has no choice but to agree to bailout conditions of IMF that are &nbsp;"beyond imagination".&nbsp;A delegation from International Monetary Fund (IMF) landed on Tuesday in Pakistan for the last talks to revive the months-stalled financial aid.

The government has opposed the demands of the IMF related to tax rise and subsidiary slashing, as it fears backlash before the elections which are scheduled in October.

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"I will not go into the details but will only say that our economic challenge is unimaginable. The conditions we will have to agree to with the IMF are beyond imagination. But we will have to agree with the conditions," said Sharif, in televised comments.

The economy of Pakistan is in dire conditions, hit by the balance of payments crisis as the government is trying to manage high levels of external debt, amid deteriorating security and political chaos.&nbsp;

The central bank of the country on Thursday announced a drop in foreign exchange reserves to $3.1 billion, which analysts stated is sufficient for less than three weeks of imports.&nbsp;

On Wednesday, the data showed the&nbsp;year-on-year inflation at a 48-year high due to which Pakistanis have been struggling to purchase basic food items.&nbsp;

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The control&nbsp;on the rupee was also loosened by the government to rein in the black market in US dollars which led to the currency dropping to a record low.&nbsp;

"Accepting IMF conditions will definitely increase prices, but Pakistan has no other choice. Otherwise, there is a fear of a situation like Sri Lanka and Lebanon," said analyst Abid Hasan.&nbsp;

(With inputs from agencies)

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Pakistan's Prime Minister Shehbaz Sharif on Friday said that the government has no choice but to agree to bailout conditions of IMF that are "beyond imagination".

Pakistan's Prime Minister Shehbaz Sharif on Friday said that the government has no choice but to agree to bailout conditions of IMF that are "beyond imagination". A delegation from International Monetary Fund (IMF) landed on Tuesday in Pakistan for the last talks to revive the months-stalled financial aid. The government has opposed the demands of the IMF related to tax rise and subsidiary slashing, as it fears backlash before the elections which are scheduled in October. ALSO READ | Pakistanis call for intelligence chief's removal after Peshawar mosque blast "I will not go into the details but will only say that our economic challenge is unimaginable. The conditions we will have to agree to with the IMF are beyond imagination. But we will have to agree with the conditions," said Sharif, in televised comments. The economy of Pakistan is in dire conditions, hit by the balance of payments crisis as the government is trying to manage high levels of external debt, amid deteriorating security and political chaos. The central bank of the country on Thursday announced a drop in foreign exchange reserves to $3.1 billion, which analysts stated is sufficient for less than three weeks of imports. On Wednesday, the data showed the year-on-year inflation at a 48-year high due to which Pakistanis have been struggling to purchase basic food items. WATCH | Gravitas: Pakistan is heading for a civil war The control on the rupee was also loosened by the government to rein in the black market in US dollars which led to the currency dropping to a record low. "Accepting IMF conditions will definitely increase prices, but Pakistan has no other choice. Otherwise, there is a fear of a situation like Sri Lanka and Lebanon," said analyst Abid Hasan. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Pakistan ‘will have to agree’ to IMF’s bailout conditions though it will trigger price rise: PM Sharif

Pakistan Prime Minister Shehbaz Sharif said that the government would have to agree to IMF bailout condition which he said are 'beyond imagination'. Without going into the details, he said that Pakistan's economic conditions are 'unimaginable' and that 'IMF is giving the government a tough time'.

Pakistan PM Shehbaz Sharif says 'IMF conditions unimaginable' over $6.5 bn bailout

Amid the ongoing economic crisis in Pakistan, the Shehbaz Sharif government is considering different proposals, including slashing the salaries of government employees by 10 per cent across the board. The National Austerity Committee (NAC) constituted by Prime Minister Shehbaz Sharif is also considering cutting down expenditures of ministries and divisions by 15 per cent, reducing the number of federal ministers, ministers of state, and advisers from 78 to 30 while the remaining should work on a pro bono basis, according to a report by Geo News on Wednesday (January 25).

The recommendations were supposed to be finalised on Wednesday and the NAC would send the report to Sharif. However, there is no update on this development so far.&nbsp;

The Geo News report said the government was finalising recommendations on austerity as it sought another International Monetary Fund (IMF) tranche, but is reluctant to implement the conditionalities. This hesitation created a deadlock for the last two and a half months with the IMF.

A report by Dawn on Thursday said that the government has sought support from the United States to unlock the IMF programme that would release $1.1 billion to the economy. In 2019, Pakistan and the IMF signed a $6 billion bailout which was topped by another $1.1 billion last year. However, this came along with conditions. Citing multiple reports, news agency PTI reported that the Washington-based global lender might not release more funds under the programme until pledges made by the Pakistan government are met.&nbsp;

On Wednesday, Pakistan's Finance Minister Ishaq Dar met a visiting US Treasury delegation, where he said that Islamabad will honour&nbsp;its international commitments and was in the process of taking "very tough decisions" such as increasing the prices of electricity and natural gas, said the Dawn report.

Dar also highlighted that Pakistan required breathing space as industry and agriculture had passed through the most challenging times after the devastating floods last year, it added.&nbsp; 
&nbsp;

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Amid the ongoing economic crisis in Pakistan, the Shehbaz Sharif government is considering different proposals, including slashing the salaries of government employees by 10 per cent across the board.

Amid the ongoing economic crisis in Pakistan, the Shehbaz Sharif government is considering different proposals, including slashing the salaries of government employees by 10 per cent across the board. The National Austerity Committee (NAC) constituted by Prime Minister Shehbaz Sharif is also considering cutting down expenditures of ministries and divisions by 15 per cent, reducing the number of federal ministers, ministers of state, and advisers from 78 to 30 while the remaining should work on a pro bono basis, according to a report by Geo News on Wednesday (January 25). The recommendations were supposed to be finalised on Wednesday and the NAC would send the report to Sharif. However, there is no update on this development so far. The Geo News report said the government was finalising recommendations on austerity as it sought another International Monetary Fund (IMF) tranche, but is reluctant to implement the conditionalities. This hesitation created a deadlock for the last two and a half months with the IMF. A report by Dawn on Thursday said that the government has sought support from the United States to unlock the IMF programme that would release $1.1 billion to the economy. In 2019, Pakistan and the IMF signed a $6 billion bailout which was topped by another $1.1 billion last year. However, this came along with conditions. Citing multiple reports, news agency PTI reported that the Washington-based global lender might not release more funds under the programme until pledges made by the Pakistan government are met. On Wednesday, Pakistan's Finance Minister Ishaq Dar met a visiting US Treasury delegation, where he said that Islamabad will honour its international commitments and was in the process of taking "very tough decisions" such as increasing the prices of electricity and natural gas, said the Dawn report. Dar also highlighted that Pakistan required breathing space as industry and agriculture had passed through the most challenging times after the devastating floods last year, it added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Amid economic crisis, Pakistan mulls 10% cut in salaries of govt employees: Reports

Pakistan Prime Minister Shehbaz Sharif has received a special message from Russian President Vladimir Putin after he reportedly said that Moscow sees Islamabad as a key partner in South Asia and the Islamic world.

Vladimir Putin calls Pakistan 'a key partner' after latter decides to buy oil, gas from Moscow

Pak Prime Minister Shehbaz Sharif has said that Pakistan wants to live in peace with India and called for serious and sincere talks with Prime Minister Narendra Modi on burning issues like Kashmir.

Pakistan PM Shehbaz Sharif wants to resolve 'burning issues like Kashmir'

Pak PM Shehbaz recently made a peace offer to India saying Pakistan had learnt its lesson from 3 wars with India. However, the Pak PMO has now withdrawn this statement. Did Pak PM buckle under pressure?

Gravitas: Pak PM offers peace to India, then retracts statement

Shehbaz Sharif, the Prime Minister of Pakistan, has stressed the issue of peace-making with their neighbouring country India. He called for serious and sincere talks with the Indian Prime Minister Narendra Modi on crucial issues like Kashmir.&nbsp;

In an interview with Al Arabiya TV, PM Sharif emphasised establishing peace with India and said Pakistan learned its lesson after three wars with India.&nbsp;

"My message to the Indian leadership and Prime Minister Modi is let's sit down at the table and have serious and sincere talks to resolve our burning points like Kashmir. It is up to us to live peacefully and make progress or quarrel with each other and waste time and resources," Sharif stated.

Also Read |&nbsp;<a href="www.wionews.com/india-news/two-terrorists-belonging-to-let-killed-in-budgam-encounter-553422">Two terrorists belonging to LeT killed in Budgam encounter</a>

Furthermore, the Pakistan Prime Minister said, "We have had three wars with India, and they have only brought more misery, poverty, and unemployment to the people."&nbsp;

"We have learnt our lesson, and we want to live in peace with India, provided we can resolve our genuine problems," Sharif added. He expressed his opinions on sharing resources and assets with India.&nbsp;

Currently, Pakistan is dealing with a severe economic downturn, flour crisis, rage amongst citizens, and fuel shortage. The country has also witnessed a rise in terror attacks by Tehreek-e-Taliban Pakistan (TTP).&nbsp;

Watch |&nbsp;UN designates Pakistan's Abdul Rehman Makki as a global terrorist

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While highlighting the subject of Kashmir, PM Sharif insisted that Pakistan wants peace, but "what is happening in Kashmir should be stopped."

"India usurped whatever semblance of autonomy was given to Kashmiris in their Consitution's Article 370. They revoked that in August 2019, and minorities over there are pained and grossly mishandled. This must stop so that a message can go around the globe that India is ready to have talks, and we are more than ready," said Mr Sharif.

Later, the Pakistan PMO tweeted, "In ref. to PM Shehbaz Sharif’s interview with Al Arabiya, the spokesman of the PM Office has said the PM has consistently maintained that Pakistan &amp; India must resolve their bilateral issues, especially the core issue of Jammu &amp; Kashmir, through dialogue and peaceful means."

(With inputs from agencies)

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Shehbaz Sharif, the Prime Minister of Pakistan, has stressed the issue of peace-making with their neighbouring country India. He called for serious and sincere talks with the Indian Prime Minister Narendra Modi on crucial issues like Kashmir.

Shehbaz Sharif, the Prime Minister of Pakistan, has stressed the issue of peace-making with their neighbouring country India. He called for serious and sincere talks with the Indian Prime Minister Narendra Modi on crucial issues like Kashmir. In an interview with Al Arabiya TV, PM Sharif emphasised establishing peace with India and said Pakistan learned its lesson after three wars with India. "My message to the Indian leadership and Prime Minister Modi is let's sit down at the table and have serious and sincere talks to resolve our burning points like Kashmir. It is up to us to live peacefully and make progress or quarrel with each other and waste time and resources," Sharif stated. Also Read | Two terrorists belonging to LeT killed in Budgam encounter Furthermore, the Pakistan Prime Minister said, "We have had three wars with India, and they have only brought more misery, poverty, and unemployment to the people." "We have learnt our lesson, and we want to live in peace with India, provided we can resolve our genuine problems," Sharif added. He expressed his opinions on sharing resources and assets with India. Currently, Pakistan is dealing with a severe economic downturn, flour crisis, rage amongst citizens, and fuel shortage. The country has also witnessed a rise in terror attacks by Tehreek-e-Taliban Pakistan (TTP). Watch | UN designates Pakistan's Abdul Rehman Makki as a global terrorist While highlighting the subject of Kashmir, PM Sharif insisted that Pakistan wants peace, but "what is happening in Kashmir should be stopped." "India usurped whatever semblance of autonomy was given to Kashmiris in their Consitution's Article 370. They revoked that in August 2019, and minorities over there are pained and grossly mishandled. This must stop so that a message can go around the globe that India is ready to have talks, and we are more than ready," said Mr Sharif. Later, the Pakistan PMO tweeted, "In ref. to PM Shehbaz Sharif’s interview with Al Arabiya, the spokesman of the PM Office has said the PM has consistently maintained that Pakistan & India must resolve their bilateral issues, especially the core issue of Jammu & Kashmir, through dialogue and peaceful means." (With inputs from agencies) WATCH WION LIVE HERE

'Pakistan has learned its lesson,' says PM Shehbaz Sharif, calls for 'serious' talks with Indian PM Modi

Pakistan's former Prime Minister Imran Khan claimed that President Arif Alvi will ask Prime Minister Shehbaz Sharif to face a vote of confidence soon. The remark comes as he is seen stepping up his efforts to press the government for early polls.

Imran Khan: Pak President Arif Alvi to ask PM Shehbaz Sharif to obtain vote of confidence

Addressing the passing-out ceremony of probationary officers of the Pakistan Administration Service (PAS) on Saturday,&nbsp;Pakistan&nbsp;Prime Minister Shehbaz Sharif said it was shameful&nbsp;to have a nuclear weapon in one hand and a begging bowl in the other.&nbsp;Shehbaz said that seeking more loans made him feel ashamed and that turning to overseas lenders was the wrong course of action, given they needed to pay the money back. He criticised the&nbsp; main opposition party Pakistan Tehreek-e-Insaf, saying that, in the past, they have lost time with disorder and protests.&nbsp;

PM Shehbaz said that if their "bus moved at a faster rate" and in the proper direction, they could achieve the sustainable development goals (SDGs) and avoid foreign loans.

Also Read |&nbsp;<a href="www.wionews.com/south-asia/who-is-stealing-our-chickens-and-wheat-asks-pakistan-senator-amid-ongoing-food-crisis-552621">‘Who is stealing our chickens and wheat,’ asks Pakistan senator amid ongoing food crisis</a>

Sharif explained his perspective on the nation's economic problems and&nbsp;expressed regret that, throughout the last 75 years, many administrations, whether led by civilian leaders or military dictators, had failed to solve the problems plaguing the nation.

Pakistan's PM stated that President Sheikh Mohammed bin Zayed of the United Arab Emirates (UAE) had pledged a $1 billion loan to Pakistan during his most recent trip to the UAE. In his remarks, PM Shehbaz praised Saudi Arabia for its financial assistance.

PM Shehbaz encouraged public officials to perform their duties for the country and nation to the best of their abilities and expressed his optimism that they would be able to guide the country out of the current difficulties.

Watch |&nbsp;Pakistan's Punjab Assembly dissolved after governor refuses to sign summary

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In the meantime, Quaid Nawaz Sharif of the Pakistan Muslim League-Nawaz (PMLN) gave the party's leaders and workers instructions on the elections in Punjab and Khyber Pakhtunkhwa.

According to Minister for Information and Broadcasting Marriyum Aurangzeb, Quaid Nawaz Sharif had directed Prime Minister Shehbaz Sharif, the President of PMLN, to set up a parliamentary board.

She said Nawaz asked the party leaders and workers to contest the election in Punjab with full passion, confidence, strength and preparations.

(With inputs from agencies) 
&nbsp;

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Addressing the passing-out ceremony of probationary officers of the Pakistan Administration Service (PAS) on Saturday, Pakistan Prime Minister Shehbaz Sharif said it was shameful to have a nuclear weapon in one hand and a begging bowl in the other.

Addressing the passing-out ceremony of probationary officers of the Pakistan Administration Service (PAS) on Saturday, Pakistan Prime Minister Shehbaz Sharif said it was shameful to have a nuclear weapon in one hand and a begging bowl in the other. Shehbaz said that seeking more loans made him feel ashamed and that turning to overseas lenders was the wrong course of action, given they needed to pay the money back. He criticised the main opposition party Pakistan Tehreek-e-Insaf, saying that, in the past, they have lost time with disorder and protests. PM Shehbaz said that if their "bus moved at a faster rate" and in the proper direction, they could achieve the sustainable development goals (SDGs) and avoid foreign loans. Also Read | ‘Who is stealing our chickens and wheat,’ asks Pakistan senator amid ongoing food crisis Sharif explained his perspective on the nation's economic problems and expressed regret that, throughout the last 75 years, many administrations, whether led by civilian leaders or military dictators, had failed to solve the problems plaguing the nation. Pakistan's PM stated that President Sheikh Mohammed bin Zayed of the United Arab Emirates (UAE) had pledged a $1 billion loan to Pakistan during his most recent trip to the UAE. In his remarks, PM Shehbaz praised Saudi Arabia for its financial assistance. PM Shehbaz encouraged public officials to perform their duties for the country and nation to the best of their abilities and expressed his optimism that they would be able to guide the country out of the current difficulties. Watch | Pakistan's Punjab Assembly dissolved after governor refuses to sign summary In the meantime, Quaid Nawaz Sharif of the Pakistan Muslim League-Nawaz (PMLN) gave the party's leaders and workers instructions on the elections in Punjab and Khyber Pakhtunkhwa. According to Minister for Information and Broadcasting Marriyum Aurangzeb, Quaid Nawaz Sharif had directed Prime Minister Shehbaz Sharif, the President of PMLN, to set up a parliamentary board. She said Nawaz asked the party leaders and workers to contest the election in Punjab with full passion, confidence, strength and preparations. (With inputs from agencies) WATCH WION LIVE HERE

It's shameful for a nuclear power to beg for funds, says Pakistan PM Shehbaz Sharif

Pakistan Prime Minister Shehbaz Sharif arrived in the United Arab Emirates (UAE) on Thursday (January 12) for a two-day visit to ramp up bilateral economic and trade ties. According to a tweet by the Prime Minister's Office (PMO), Shehbaz landed in Abu Dhabi and was received by the UAE's Minister of Economic Affairs Abdullah Touq Al-Marri and officials of the Pakistan Embassy. Sharif is leading a key delegation of Pakistani ministers. This is his third visit to the UAE since becoming the Prime Minister.&nbsp;

"My visit to the UAE is aimed at building on the conversation I have had with H.H. President Sheikh Mohamed Bin Zayed. We share a resolve &amp; understanding that continuous efforts need to be made to further strengthen trade, investment &amp; economic relations," Prime Minister Sharif tweeted. He met the UAE's President &nbsp;Sheikh Mohammed bin Zayed and will&nbsp;also meet Vice President Mohammad bin Rashid Al Makhtoum.&nbsp;

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Prime Minister Muhammad Shehbaz Sharif meets the President of the United Arab Emirates H.H. Sheikh Mohamed Bin Zayed Al Nahyan (12 January 2023)<a href="https://twitter.com/hashtag/PMShehbazinUAE?src=hash&amp;ref_src=twsrc%5Etfw">#PMShehbazinUAE</a> <a href="https://t.co/EOaYsH8jg8">pic.twitter.com/EOaYsH8jg8</a>
— Prime Minister's Office (@PakPMO) <a href="https://twitter.com/PakPMO/status/1613502335648399360?ref_src=twsrc%5Etfw">January 12, 2023</a></blockquote>
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ALSO READ | <a href="https://www.wionews.com/business-economy/world-economic-forum-identifies-top-five-risks-faced-by-crisis-hit-pakistan-reports-551910">World Economic Forum identifies top five risks faced by crisis-hit Pakistan: Reports</a>

During his two-day visit, Shehbaz Sharif will seek a fresh economic package for Pakistan from the UAE, news agency Reuters reported on Thursday citing a report by ARY news. The report added the Prime Minister will also seek deferment of a $2 billion loan repayment to the UAE due in the coming weeks and hold discussions on finalising a $2 billion investment in Pakistan. There is no comment from the government on this development yet.&nbsp;

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My visit to the UAE is aimed at building on the conversation I have had with H.H. President Sheikh <a href="https://twitter.com/MohamedBinZayed?ref_src=twsrc%5Etfw">@MohamedBinZayed</a>. We share a resolve &amp; understanding that the continuous efforts need to be made to further strengthen trade, investment &amp; economic relations.
— Shehbaz Sharif (@CMShehbaz) <a href="https://twitter.com/CMShehbaz/status/1613463610486886400?ref_src=twsrc%5Etfw">January 12, 2023</a></blockquote>
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Sharif's visit comes as Pakistan is facing an economic crisis because of many factors including political instability, depleting forex reserves and high inflation. Last year's devastating floods,&nbsp;which killed at least 1,700 people and displaced around eight million, have further added to the economic pressure.&nbsp;

On Monday (January 9), international donors in Geneva committed more than $9 billion to help Pakistan recover from the floods. Prime Minister Sharif termed the financial pledges as a testament to his government's credibility.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/south-asia/explained-with-pm-abroad-pakistanis-struggle-to-put-food-on-table-economy-on-track-551157">Explained: With PM abroad, Pakistanis struggle to put food on table, economy on track</a>

Meanwhile, Pakistan's negotiations with the International Monetary Fund (IMF) have not reached any positive outcome yet. The Shehbaz Sharif government has been asking a team from the IMF to come, review and approve the ninth assessment to release the next tranche of $1.1 billion. The IMF's plan is being seen as the only way forward for Pakistan. On Wednesday, Finance Minister Ishaq Dar said the government will take fiscal measures set by the IMF to meet its budgetary targets for the 2022-23 financial year, Reuters reported. Dar said some of these measures include subsidies in the farming and export sectors and shedding energy sector debt.&nbsp;

As the economic crisis in Pakistan worsens, the World Bank on Tuesday slashed the country's economic growth by half from 4 per cent to 2 per cent for the current fiscal year, saying the government faces mounting economic difficulties.&nbsp;

(With inputs from agencies)

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Pakistan Prime Minister Shehbaz Sharif arrived in the United Arab Emirates (UAE) on Thursday (January 12) for a two-day visit to ramp up bilateral economic and trade ties.

Pakistan Prime Minister Shehbaz Sharif arrived in the United Arab Emirates (UAE) on Thursday (January 12) for a two-day visit to ramp up bilateral economic and trade ties. According to a tweet by the Prime Minister's Office (PMO), Shehbaz landed in Abu Dhabi and was received by the UAE's Minister of Economic Affairs Abdullah Touq Al-Marri and officials of the Pakistan Embassy. Sharif is leading a key delegation of Pakistani ministers. This is his third visit to the UAE since becoming the Prime Minister. "My visit to the UAE is aimed at building on the conversation I have had with H.H. President Sheikh Mohamed Bin Zayed. We share a resolve & understanding that continuous efforts need to be made to further strengthen trade, investment & economic relations," Prime Minister Sharif tweeted. He met the UAE's President Sheikh Mohammed bin Zayed and will also meet Vice President Mohammad bin Rashid Al Makhtoum. Prime Minister Muhammad Shehbaz Sharif meets the President of the United Arab Emirates H.H. Sheikh Mohamed Bin Zayed Al Nahyan (12 January 2023)#PMShehbazinUAE pic.twitter.com/EOaYsH8jg8 — Prime Minister's Office (@PakPMO) January 12, 2023 × ALSO READ | World Economic Forum identifies top five risks faced by crisis-hit Pakistan: Reports During his two-day visit, Shehbaz Sharif will seek a fresh economic package for Pakistan from the UAE, news agency Reuters reported on Thursday citing a report by ARY news. The report added the Prime Minister will also seek deferment of a $2 billion loan repayment to the UAE due in the coming weeks and hold discussions on finalising a $2 billion investment in Pakistan. There is no comment from the government on this development yet. My visit to the UAE is aimed at building on the conversation I have had with H.H. President Sheikh @MohamedBinZayed. We share a resolve & understanding that the continuous efforts need to be made to further strengthen trade, investment & economic relations. — Shehbaz Sharif (@CMShehbaz) January 12, 2023 × Sharif's visit comes as Pakistan is facing an economic crisis because of many factors including political instability, depleting forex reserves and high inflation. Last year's devastating floods, which killed at least 1,700 people and displaced around eight million, have further added to the economic pressure. On Monday (January 9), international donors in Geneva committed more than $9 billion to help Pakistan recover from the floods. Prime Minister Sharif termed the financial pledges as a testament to his government's credibility. ALSO READ | Explained: With PM abroad, Pakistanis struggle to put food on table, economy on track Meanwhile, Pakistan's negotiations with the International Monetary Fund (IMF) have not reached any positive outcome yet. The Shehbaz Sharif government has been asking a team from the IMF to come, review and approve the ninth assessment to release the next tranche of $1.1 billion. The IMF's plan is being seen as the only way forward for Pakistan. On Wednesday, Finance Minister Ishaq Dar said the government will take fiscal measures set by the IMF to meet its budgetary targets for the 2022-23 financial year, Reuters reported. Dar said some of these measures include subsidies in the farming and export sectors and shedding energy sector debt. As the economic crisis in Pakistan worsens, the World Bank on Tuesday slashed the country's economic growth by half from 4 per cent to 2 per cent for the current fiscal year, saying the government faces mounting economic difficulties. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Pakistan PM arrives in UAE on two-day visit to seek fresh economic package: Report

Pakistani Prime Minister Shehbaz Sharif will seek a fresh economic package for his country from the United Arab Emirates during his two-day visit there. Sharif will also seek deferment of a $2 billion loan repayment to the UAE due in the coming weeks and hold talks for finalising a $2 billion investment in Pakistan.

WION Dispatch: Pakistan Prime Minister Shehbaz Sharif seeks to boost economies ties with UAE

Pakistan's Prime Minister Shehbaz Sharif has arrived in the United Arab Emirates. With this visit, he is seeking to bolden economic relations with the Emirati nation.

Pakistan PM seeks to boost economic ties with UAE

Pakistan's Prime Minister Shehbaz Sharif has arrived in the United Arab Emirates. With this visit, he is seeking to bolden economic relations with the Emirates nation. Watch to know more.

Pakistan PM Shehbaz Sharif arrives in UAE on two-day visit

Amid the depleting foreign reserves in the country, Pakistan Prime Minister Shehbaz Sharif's visit to the UAE on is delayed. Motive behind this visit is to seek an emergency cash deposit from its west Asian partner.

WION Dispatch: Pakistan Prime Minister Shehbaz Sharif's visit to UAE delayed

Pakistan Prime Minister Shehbaz Sharif recently wrote an opinion for The Guardian, detailing how the country plunged into crisis after unprecedented floods last summer. Sharif wrote that the floods "left a swathe of territory the size of Switzerland under water and affected 33 million people".&nbsp;

In the op-ed, Sharif stated that large parts of Sindh and Balochistan provinces remain inundated and the food crisis is posing challenges as the number of food-insecure people in Pakistan has "doubled to 14 million". He said that another nine million have been "pushed into extreme poverty".&nbsp;

The Pakistan prime minister urged the world to help the crises-hit nation as it hosted an international conference in Geneva with the help of the United Nations. The South Asian nation aimed at generating international support for rebuilding efforts.&nbsp;

Pakistan said it had received pledges of more than $9 billion at an international conference seeking support for its recovery from last year's devastating floods — more than requested.&nbsp;

Hina Rabbani Khar, who is Pakistan's Minister of State for Foreign Affairs, told the close of the conference in Geneva: "The message from the world is clear: the world will stand by those who go through any natural calamities and will not leave them alone."&nbsp;

WATCH |&nbsp;WION Dispatch: Pakistan seeks global community's aid for rehabilitation of flood victims&nbsp;

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At the International Conference on a Climate Resilient Pakistan, United Nations Secretary-General Antonio Guterres sought "massive investments" for Pakistan.&nbsp;

"The epic floods were nothing short of a monsoon on steroids - as I mentioned in my visit - submerging one-third of the country, three times the area of my own country, Portugal," the UN Chief said.&nbsp;

He added, "A terrifying wall of water killed more than 1,700 people, injured thousands more, and affected a total of more than 33 million, displacing 8 million people. It swept over roads, ruined millions of acres of agricultural land, and damaged or destroyed 2 million homes. And it pushed back 9 million people to the brink of poverty."&nbsp;

(With inputs from agencies)&nbsp;

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Pakistan Prime Minister Shehbaz Sharif recently wrote an opinion for The Guardian, detailing how the country plunged into crisis after unprecedented floods last summer.

Pakistan Prime Minister Shehbaz Sharif recently wrote an opinion for The Guardian, detailing how the country plunged into crisis after unprecedented floods last summer. Sharif wrote that the floods "left a swathe of territory the size of Switzerland under water and affected 33 million people". In the op-ed, Sharif stated that large parts of Sindh and Balochistan provinces remain inundated and the food crisis is posing challenges as the number of food-insecure people in Pakistan has "doubled to 14 million". He said that another nine million have been "pushed into extreme poverty". The Pakistan prime minister urged the world to help the crises-hit nation as it hosted an international conference in Geneva with the help of the United Nations. The South Asian nation aimed at generating international support for rebuilding efforts. Pakistan said it had received pledges of more than $9 billion at an international conference seeking support for its recovery from last year's devastating floods — more than requested. Hina Rabbani Khar, who is Pakistan's Minister of State for Foreign Affairs, told the close of the conference in Geneva: "The message from the world is clear: the world will stand by those who go through any natural calamities and will not leave them alone." WATCH | WION Dispatch: Pakistan seeks global community's aid for rehabilitation of flood victims × At the International Conference on a Climate Resilient Pakistan, United Nations Secretary-General Antonio Guterres sought "massive investments" for Pakistan. "The epic floods were nothing short of a monsoon on steroids - as I mentioned in my visit - submerging one-third of the country, three times the area of my own country, Portugal," the UN Chief said. He added, "A terrifying wall of water killed more than 1,700 people, injured thousands more, and affected a total of more than 33 million, displacing 8 million people. It swept over roads, ruined millions of acres of agricultural land, and damaged or destroyed 2 million homes. And it pushed back 9 million people to the brink of poverty." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

After Pak PM Sharif's plea, international community pledges around $10bn for flood relief

Economic troubles in Pakistan are not new as the nation has been reeling because of the high cost of living for quite some time now. Authorities recently directed markets, shopping malls, restaurants, and wedding halls to close early to conserve energy.&nbsp;

To tackle the situation, Pakistan Prime Minister Shehbaz Sharif on Friday held talks with the International Monetary Fund (IMF) chief Kristalina Georgieva. Sharif aimed at breaking the deadlock over the release of the next tranche of assistance for the country.&nbsp;

The Pakistani prime minister said that he received a call from IMF Managing Director Georgieva. They talked about the issue of disbursement of an already pledged loan, Sharif said while addressing a business gathering on Friday.&nbsp;

Watch this report for details:&nbsp;

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Sharif said, "I told the IMF that we cannot put more burden on our masses. I also urged that the IMF should send its delegation to Pakistan for talks."&nbsp;

The problems are not appearing to go away for Pakistan as IMF has refused to issue the new instalment of the already agreed loan. The reason behind the rejection was Pakistan not being able to live up to the promises it made when the stalled loan of $6 billion was restored in 2022.&nbsp;

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<a href="https://twitter.com/hashtag/EconWatch?src=hash&amp;ref_src=twsrc%5Etfw">#EconWatch</a>: <a href="https://twitter.com/hashtag/Pakistan?src=hash&amp;ref_src=twsrc%5Etfw">#Pakistan</a> is on the brink of a debt default. Its sovereign bonds have lost more than 60% of their value this year. I'm not surprised. PM Sharif's government is failing to save the sinking ship. <a href="https://t.co/ySDno0MAC2">pic.twitter.com/ySDno0MAC2</a>
— Steve Hanke (@steve_hanke) <a href="https://twitter.com/steve_hanke/status/1580655614266675200?ref_src=twsrc%5Etfw">October 13, 2022</a></blockquote>
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Several factors have combined to put Pakistan's economy in dire strait, including tumbling GDP growth, global inflation due to the ongoing Russia- Ukraine war, expensive imports due to the fall in the currency, and plunging forex reserves. Unprecedented floods in 2022 made the situation even worse for the nation.&nbsp;

(With inputs from agencies)&nbsp;

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Economic troubles in Pakistan are not new as the nation has been reeling because of the high cost of living for quite some time now. Authorities recently directed markets, shopping malls, restaurants, and wedding halls to close early to conserve energy.

Economic troubles in Pakistan are not new as the nation has been reeling because of the high cost of living for quite some time now. Authorities recently directed markets, shopping malls, restaurants, and wedding halls to close early to conserve energy. To tackle the situation, Pakistan Prime Minister Shehbaz Sharif on Friday held talks with the International Monetary Fund (IMF) chief Kristalina Georgieva. Sharif aimed at breaking the deadlock over the release of the next tranche of assistance for the country. The Pakistani prime minister said that he received a call from IMF Managing Director Georgieva. They talked about the issue of disbursement of an already pledged loan, Sharif said while addressing a business gathering on Friday. Watch this report for details: × Sharif said, "I told the IMF that we cannot put more burden on our masses. I also urged that the IMF should send its delegation to Pakistan for talks." The problems are not appearing to go away for Pakistan as IMF has refused to issue the new instalment of the already agreed loan. The reason behind the rejection was Pakistan not being able to live up to the promises it made when the stalled loan of $6 billion was restored in 2022. #EconWatch: #Pakistan is on the brink of a debt default. Its sovereign bonds have lost more than 60% of their value this year. I'm not surprised. PM Sharif's government is failing to save the sinking ship. pic.twitter.com/ySDno0MAC2 — Steve Hanke (@steve_hanke) October 13, 2022 × Several factors have combined to put Pakistan's economy in dire strait, including tumbling GDP growth, global inflation due to the ongoing Russia- Ukraine war, expensive imports due to the fall in the currency, and plunging forex reserves. Unprecedented floods in 2022 made the situation even worse for the nation. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Pak PM Shehbaz Sharif holds talks with IMF chief amid economic crisis

India has blasted Pakistan over Prime Minister Shehbaz Sharif and foreign minister Bilawal Bhutto's provocative comments on Kashmir. Arindam Bagchi, the spokesperson of India's Ministry of External Affairs, said on Thursday (January 5), that India has several times reiterated that Jammu and Kashmir is an "inalienable and integral" part of the country. Bagchi was responding to a query on Sharif&nbsp;writing&nbsp;on his official Twitter handle that "peace" and "development" in South Asia are linked to the resolution of the "Kashmir dispute".&nbsp;

From a rise in terrorism to&nbsp;economic challenges, Pakistan is facing multiple crises currently, and instead of focusing on his nation's dire situation, the Pakistani prime minister said that India "must reverse" its actions of August 5, referring to the revocation of the special status of J&amp;K, which took place in 2019 following the removal of Article 370 and Article 35A.&nbsp;

During a press briefing, Bagchi said, "We've reiterated multiple times that J&amp;K is an inalienable and integral part of India. Article 370 is entirely a matter of India as well as our Constitution and it's a sovereign matter. We don't see what their locus is on this and so such interference does not help at all and it does not succeed."&nbsp;

Watch his address here:&nbsp;

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This is not the first time when Pakistan leadership has tried to wade into Kashmir issue, Shehbaz had also launched an anti-India tirade at the 77th session of UNGA last year when he was urging for help after the unprecedented floods in Pakistan and their disastrous impact on the residents.&nbsp;

But he then switched to Kashmir and said that "sustainable peace and stability in South Asia, however, remains contingent upon a just and lasting solution to Jammu &amp; Kashmir dispute."

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India has blasted Pakistan over Prime Minister Shehbaz Sharif and foreign minister Bilawal Bhutto's provocative comments on Kashmir. Arindam Bagchi, the spokesperson of India's Ministry of External Affairs, said on Thursday (January 5), that India has several times reiterated that Jammu and Kashmir is an "inalienable and integral" part of the country.

India has blasted Pakistan over Prime Minister Shehbaz Sharif and foreign minister Bilawal Bhutto's provocative comments on Kashmir. Arindam Bagchi, the spokesperson of India's Ministry of External Affairs, said on Thursday (January 5), that India has several times reiterated that Jammu and Kashmir is an "inalienable and integral" part of the country. Bagchi was responding to a query on Sharif writing on his official Twitter handle that "peace" and "development" in South Asia are linked to the resolution of the "Kashmir dispute". From a rise in terrorism to economic challenges, Pakistan is facing multiple crises currently, and instead of focusing on his nation's dire situation, the Pakistani prime minister said that India "must reverse" its actions of August 5, referring to the revocation of the special status of J&K, which took place in 2019 following the removal of Article 370 and Article 35A. During a press briefing, Bagchi said, "We've reiterated multiple times that J&K is an inalienable and integral part of India. Article 370 is entirely a matter of India as well as our Constitution and it's a sovereign matter. We don't see what their locus is on this and so such interference does not help at all and it does not succeed." Watch his address here: × This is not the first time when Pakistan leadership has tried to wade into Kashmir issue, Shehbaz had also launched an anti-India tirade at the 77th session of UNGA last year when he was urging for help after the unprecedented floods in Pakistan and their disastrous impact on the residents. But he then switched to Kashmir and said that "sustainable peace and stability in South Asia, however, remains contingent upon a just and lasting solution to Jammu & Kashmir dispute." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

WATCH: India slams Pakistan over PM Shehbaz Sharif and Bilawal Bhutto's remarks on Kashmir

Currently going through a harrowing economic crisis, the Pakistan government on Tuesday announced a slew of plans to reduce energy consumption and in turn reduce the financial load on the exchequer.

Currently going through a harrowing economic crisis, the Pakistan government on Tuesday announced a slew of plans to reduce energy consumption and in turn reduce the financial load on the exchequer. The government proposed to close markets and wedding halls by 8:30 PM and 10 PM respectively to keep the rising debt in check. “The plan will change the overall lifestyle and habit pattern of the nation and save us $26 million (Pkr 60 billion)," Pakistan Defence Minister Khawaja Asif was quoted as saying by Dawn. The radical changes by Asif also included a plan to halt the production of fans running on electricity by July. “Inefficient fans use around 120-130 watts of electricity. Across the globe, fans are available that use 60-80 watts." Similarly, the manufacturing of incandescent bulbs will be stopped from next month. Meanwhile, the government will make the use of conical geysers mandatory and employ alternative use of streetlights to further cut the wage bill. Asif added the country is going through a 'critical' situation and that it could not afford to sustain current levels of power consumption. He also announced plans of implementing a 'work from home policy'. "All government buildings and offices will also reduce the use of energy under the plan, and a policy to work from home will be completed in 10 days," said Asif before adding, "No lights were on in the cabinet meeting today. The meeting was held in full sunlight." WATCH | Gravitas: Pakistan's facing a financial crisis × According to reports quoting Pakistan's power division, the country's circular debt stood at $10.5 billion (Rs2.437 trillion) which was an increase of $815 million (Rs 185 billion) from September last year. Such is the state of the economy that Islamabad is unable to provide basic amenities to a common Pakistani citizen. Notably, people are being forced to store LPG (cooking gas) in plastic balloons and bags as the government fails to address the shortage in supply. In the videos that have gone viral on different social media platforms, citizens in the Khyber Pakhtunkhwa province can be seen storing cooking gas in plastic bags due to shortage. Local media reports have suggested that people in Hangu city of the province have been living without gas for the past two years. WATCH | People in Pakistan store cooking gas in plastic bags amid economic crisis Pakistan's fiscal deficit stood at 1.5 percent of GDP from July-October 2022-23. The country's foreign exchange reserves plummeted to its lowest since April 2014 last month when it shrank by $294 million to $5.8 billion, primarily due to external debt repayment. Consequently, economic pundits have sounded the warning bells that Pakistan might be perilously close to default. (With inputs from agencies) WATCH WION LIVE HERE:

Pakistan to close wedding halls, malls early; stop production of bulbs, fans to save money

Pakistan Prime Minister Shehbaz Sharif has ordered government departments to reduce energy consumption by 30% in a bid to resolve the energy issues hammering the nation. WION tells you more in this report.

Pakistan: Electricity, gas shortage grips country; govt announces National Energy Efficiency plan

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