KARACHI: Prime Minister Imran Khan’s recent comments after his overture of peace talks with India amounted to a “strange and significant” statement nothing like anything from his predecessors, former military officers, and senior analysts have said.
Addressing government officials in Lahore on Sunday, PM Khan said that his country will not accept any act of hostility and will respond in kind if it comes to that. “Our wish for peace should not be mistaken as a sign of weakness,” he told bureaucrats of the Punjab government. His statement came a day after the Indian Army Chief Bipin Rawat threatened Islamabad with “retaliation” for allegedly killing a border guard and policemen in Indian-administered Kashmir.
“Prime Minister Imran Khan speaks from his mind,” Information Minister Fawad Chaudhry told Arab News.
A day earlier, PM Khan in a tweet said he was disappointed at what he described as “the arrogant and negative response by India” to his call for the resumption of the peace dialogue.
“The statement from PM Khan is a statement from the nation. This specific statement, and all other statements made by Imran Khan, are reflective of the true feelings of his nation,” the information minister added.
The tweet and address in Lahore invited reaction from the other side of the border. Former External Affairs Minister of India Shashi Tharoor said Khan had a “fairly clear level of military backing” and he “could be a wonderful face for peace or an effective voice for hostility, depending on what the army wants of him.”
Former military officers and defense experts in Pakistan, however, do not agree.
Tharoor is an eloquent orator and well-read commentator on regional issues but citing the age-old Indian rhetoric seems quite odd, said the Karachi-based defense analyst Waheed Akhter Bukhari.
“His whole argument relying on the ‘army running the show in Pakistan and civilian leadership being under their watchful eyes’ rhetoric is, in fact, an insult to the capabilities of ‘his longtime friend’ Imran Khan,” he said.
Khan is the first prime minister of Pakistan and among the very few people of his generation to have a Twitter account, and he uses it regularly, said senior analyst Shahzad Chaudhry, adding that what Khan expressed hadn’t come from anywhere else.
“India, in contradiction of the diplomatic norms, used very harsh language by saying that the ‘true face of Imran Khan has been exposed’ in response to his peace overture,” Chaudhry told Arab News. This, Chaudhry said, led the Pakistani premier to tweet the harsh statement but it was still not as harsh as it was interpreted by some in India and Pakistan.
Major General (rtd.) Ejaz Awan, a senior defense analyst, said previous governments were extra-diplomatic toward India but this time “the political and military leadership are on the same page.”
PM Khan’s language toward India ‘strange and significant,’ analysts say
PM Khan’s language toward India ‘strange and significant,’ analysts say
- The current political and military leadership are on the same page, say experts
- Imran Khan has a “fairly clear level of military backing,” says India
IMF board to approve Pakistan reviews today ‘if all goes well,’ say officials
- IMF’s executive board is scheduled to meet today to discuss the disbursement of $1.2 billion
- Economists say the money will boost Pakistan’s forex reserves, send positive signals to investors
KARACHI: The International Monetary Fund’s (IMF) executive board is scheduled to meet today, Monday, to approve the release of about $1.2 billion for Pakistan under the lender’s two loan facilities, said IMF officials who requested not to be named.
The IMF officials confirmed the executive board was going to decide on the Fund’s second review under the $7 billion Extended Fund Facility (EFF) and first review under the $1.4 billion Resilience and Sustainability Facility (RSF), a financing tool that provides long-term, low-cost loans to help countries address climate risks.
“The board meeting will be taking place as planned,” an IMF official told Arab News.
“The board is on today yes as per the calendar,” said another.
A well-placed official at Pakistan’s finance ministry also confirmed the board meeting was scheduled today to discuss the next tranche for Pakistan.
The IMF executive board’s meeting comes nearly two months after a staff-level agreement (SLA) was signed between the two sides in October.
Procedurally, the SLAs are subject to approval by the executive board, though it is largely viewed as a formality.
“If all goes well, the reviews should pass,” said the second IMF official.
On approval, Pakistan will have access to about $1 billion under the EFF and about $200 million under the RSF, the IMF said in a statement in October after the SLA.
The fresh transfer will bring total disbursements under the two arrangements to about $3.3 billion, it added.
Experts see smooth sailing for Pakistan in terms of the passing of the two reviews, saying the IMF disbursements will help the cash-strapped nation to strengthen its balance of payments position.
Samiullah Tariq, group head of research at Pakistan Kuwait Investment Company Limited, said the IMF board’s approval will show that Pakistan’s economy is on the right path.
“It obviously will help strengthen [the country’s] external sector, the balance of payments,” he told Arab News.
Until recently, Pakistan grappled with a macroeconomic crisis that drained its financial resources and triggered a balance of payments crisis.
Pakistan has reported financial gains since 2022, recording current account surpluses and taming inflation that touched unprecedented levels in mid-2023.
Economists also viewed the IMF’s bailout packages as crucial for cash-strapped Pakistan, which has relied heavily on financing from bilateral partners such as Saudi Arabia, China and the United Arab Emirates, as well as multilateral lenders.
Saudi Arabia, through the Saudi Fund for Development, last week extended the term of its $3 billion deposit for another year to help Pakistan boost its foreign exchange reserves, which stood at $14.5 billion as of November 28, according to State Bank of Pakistan statements.
“In our view this [IMF tranche] will be approved,” said Shankar Talreja, head of research at Karachi-based brokerage Topline Securities Limited.
“This will help strengthen reserves and will eventually help a rating upgrade going forward,” he said.
The IMF board’s nod, Talreja said, would also send a signal to the international and local investors regarding the continuation of the reform agenda by Pakistan’s government.
