Pakistan PM thanks UAE for being there in "testing times"

Crown Prince of UAE Mohamed bin Zayed receives Pakistan’s Prime Minister at an official reception ceremony at the Presidential Palace in Abu Dhabi, on Nov. 18, 2018. (Source: @MohamedBinZayed)
Updated 22 December 2018
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Pakistan PM thanks UAE for being there in "testing times"

  • Abu Dhabi’s $3 billion loan will boost Islamabad’s negotiations with IMF
  • Pakistan secured $6bn from Saudi Arabia in October

ISLAMABAD: Pakistani prime minister Imran Khan on Saturday thanked the United Arab Emirates for it's support in "testing times," a day after Abu Dhabi announced plans to loan Pakistan $3 billion to help shore up its economy. 
Support from the UAE was reportedly promised during Khan’s second visit to Abu Dhabi in November where he held meetings with Sheikh Muhammad bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
Khan thanked the UAE government for supporting Pakistan “so generously in our testing times," adding that the financial support “reflects our commitment and friendship that has remained steadfast over the years."
UAE's state media reported on Friday that the Abu Dhabi Fund for Development would deposit $3 billion in Pakistan's central bank in the “coming days to enhance liquidity and monetary reserves of foreign currency."
Analysts said that the cash would help Pakistan overcome its balance of payments’ crisis and stabilise the rupee which plunged 34 percent from 105 against the US dollar in December 2017 to 139 on December 21 this year.
Khan also visited Saudi Arabia in October this year where he secured $6 billion as financial support to bridge a $12 billion current account deficit. Pakistan has so far received $2 billion from Saudi Arabia in two tranches out of a total $3 billion in direct foreign currency support. The remaining $1 billion is expected to be transferred to the central bank next month.

Pakistan is also in bailout negotiations with the International Monetary Fund. 

Senior economist Dr. Athar Ahmad said Pakistan's decades-old bilateral and cordial relationship with the UAE and Saudi Arabia “was now turning into a strong economic and trade relationship which will not only help us but also contribute to the prosperity of the entire region."
“The UAE’s $3 billion financial aid will bolster Pakistan’s position to negotiate a bailout package from the International Monetary Fund,” he told Arab News.


Pakistan remembers Benazir Bhutto, first woman PM in Muslim world, on death anniversary

Updated 22 min 6 sec ago
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Pakistan remembers Benazir Bhutto, first woman PM in Muslim world, on death anniversary

  • Bhutto was daughter of ex-PM Zulfikar Ali Bhutto who was hanged during reign of former military ruler Gen. Zia-ul-Haq
  • Year before assassination in 2007, Bhutto signed landmark deal with rival Nawaz Sharif to prevent army interventions

ISLAMABAD: Prime Minister Shehbaz Sharif and other Pakistani leaders on Saturday paid tribute to Benazir Bhutto, the first woman prime minister in the Muslim world who was assassinated 18 years ago in a gun and bomb attack after a rally in the city of Rawalpindi.

Born on Jun. 21, 1953, Bhutto was elected premier for the first time in 1988 at the age of 35. She was deposed in 1990, re-elected in 1993, and ousted again in 1996, amid allegations of corruption and mismanagement which she denied as being politically motivated.

Bhutto only entered politics after her father was hanged in 1979 during military ruler Gen. Zia-ul-Haq’s reign. Throughout her political career, she had a complex and often adversarial relationship with the now ruling Sharif family, but despite the differences signed a ‘Charter of Democracy’ in 2006 with three-time former PM Nawaz Sharif, pledging to strengthen democratic institutions and prevent military interventions in Pakistan in the future.

She was assassinated a year and a half later.

“Mohtarma Benazir Bhutto took exemplary steps to strengthen the role of women, protect the rights of minorities, and make Pakistan a peaceful, progressive, and democratic state,” PM Shehbaz Sharif, younger brother of ex-PM Nawaz Sharif, said in a statement on Saturday.

“Her sacrifices and services are a beacon of light for the nation.”

President Asif Ali Zardari, Bhutto’s widower, said Bhutto believed in an inclusive Pakistan, rejected sectarianism, bigotry and intolerance, and consistently spoke for the protection of minorities.

“Her vision was of a federation where citizens of all faiths could live with dignity and equal rights,” he said. “For the youth of Pakistan, her life offers a clear lesson: speak up for justice, organize peacefully and do not surrender hope in the face of adversity.”

Powerful families like the Bhuttos and the Sharifs of Pakistan to the Gandhis of India and the Bandaranaike family of Sri Lanka have long dominated politics in this diverse region since independence from British colonial rule. But none have escaped tragedy at the hands of rebels, militants or ambitious military leaders.

It was Zulfikar Ali Bhutto, Bhutto’s father, who founded the troubled Bhutto dynasty, becoming the country’s first popularly elected prime minister before being toppled by the army in 1977 and later hanged. Both his sons died in mysterious circumstances.

Before her assassination on Dec. 27, 2007, Bhutto survived another suicide attack on her motorcade that killed nearly 150 people as she returned to Pakistan after eight years in exile in October 2007.

Bhutto’s Oxford-educated son, Bilawal Bhutto-Zardari, now leads her Pakistan Peoples Party, founded by her father, and was foreign minister in the last administration of PM Shehbaz Sharif.

Aseefa Bhutto Zardari, Bhutto’s daughter who is currently the first lady of Pakistan, said her mother lived with courage and led with compassion in life.

“Her strength lives on in every voice that refuses injustice,” she said on X.

Pakistan has been ruled by military regimes for almost half its history since independence from Britain in 1947. Both former premiers Imran Khan and the elder Sharif, Nawaz, have alleged that they were ousted by the military after they fell out with the generals. The army says it does not interfere in politics.