LAHORE: A Pakistani court has ordered the release of opposition leader Shehbaz Sharif on bail, months after he was arrested over alleged links to a multi-million dollar housing scam.
Thursday’s court order was announced in the eastern city of Lahore.
Sharif was arrested in October on charges that he abused power during his tenure as the chief minister of Punjab from 2013 to 2018.
Pakistan’s anti-graft body claims he influenced authorities to award contracts for a housing program for low-income citizens to a company with which he had political connections.
Sharif, who is leader of the opposition in the National Assembly, or lower house of parliament, denies any wrongdoing.
He is the younger brother of former Prime Minister Nawaz Sharif, who was disqualified from office in 2017 over corruption charges.
Pakistani court orders Shehbaz Sharif’s release on bail
Pakistani court orders Shehbaz Sharif’s release on bail
- Opposition leader, who was arrested in October 2018, denies any wrongdoing
- Has been accused of abusing power during his tenure as Punjab CM
World Bank president in Pakistan to discuss development projects, policy issues
- Pakistan, World Bank are currently gearing up to implement a 10-year partnership framework to grant $20 billion loans to the cash-strapped nation
- World Bank President Ajay Banga will hold meetings with Pakistan Prime Minister Shehbaz Sharif and other senior officials during the high-level visit
ISLAMABAD: World Bank President Ajay Banga has arrived in Pakistan to hold talks with senior government officials on development projects and key policy issues, Pakistani state media reported on Sunday, as Islamabad seeks multilateral support to stabilize economy and accelerate growth.
The visit comes at a time when Pakistan and the World Bank are gearing up to implement a 10-year Country Partnership Framework (CPF) to grant $20 billion in loans to the cash-strapped nation.
The World Bank’s lending for Pakistan, due to start this year, will focus on education quality, child stunting, climate resilience, energy efficiency, inclusive development and private investment.
"World Bank President Ajay Banga arrives in Pakistan for a high-level visit," the state-run Pakistan TV Digital reported on Sunday. "During his stay, he will meet Prime Minister Shehbaz Sharif and other senior officials to discuss economic reforms, development projects, and key policy issues."
Pakistan, which nearly defaulted on its foreign debt obligations in 2023, is currently making efforts to stabilize its economy under a $7 billion International Monetary Fund (IMF) program.
Besides efforts to boost trade and foreign investment, Islamabad has been seeking support from multilateral financial institutions to ensure economic recovery.
“This partnership fosters a unified and focused vision for your county around six outcomes with clear, tangible and ambitious 10-year targets,” Martin Raiser, the World Bank vice president for South Asia, had said at the launch of the CPF in Jan. last year.
“We hope that the CPF will serve as an anchor for this engagement to keep us on the right track. Partnerships will equally be critical. More resources will be needed to have the impact at the scale that we wish to achieve and this will require close collaboration with all the development partners.”
In Dec., the World Bank said it had approved $700 million in financing for Pakistan under a multi-year initiative aimed at supporting the country's macroeconomic stability and service delivery.
It followed a $47.9 million World Bank grant in August last year to improve primary education in Pakistan's most populous Punjab province.
