ISLAMABAD: Pakistan’s airspace has been reopened to civil aviation with immediate effect, its aviation authority said on Tuesday, following months of restrictions imposed in the wake of a standoff with neighboring India earlier this year.
“With immediate effect Pakistan airspace is open for all type of civil traffic on published ATS (Air Traffic Service) routes,” according to a so-called Notice to Airmen (NOTAMS) published on the authority’s website.
An official at the authority, reached by telephone, confirmed that the change was in effect.
Pakistan closed its airspace in February after a standoff with India in the wake of an attack by a Pakistan-based militant group on a police convoy in Indian-controlled Kashmir that killed 40 paramilitary police.
Both countries carried out aerial attacks over the other’s territory during the standoff and warplanes fought a brief dogfight over the skies of the disputed Kashmir region.
Partial operations at Pakistani airports resumed once tensions eased but restrictions continued to affect many international carriers using Pakistani airspace.
Pakistan lies in the middle of a vital aviation corridor and the airspace restrictions affected hundreds of commercial and cargo flights each day, adding to flight time for passengers and fuel costs for airlines.
The announcement came hours after United Airlines Holdings Inc. said it was extending the suspension of its flights from the United States to Delhi and Mumbai in India until Oct. 26, citing continued restrictions of Pakistani airspace.
Pakistan reopens airspace for civil aviation after India standoff
Pakistan reopens airspace for civil aviation after India standoff
- Hundreds of commercial and cargo flights were affected every day due to airspace closure
- Islamabad closed its airspace in February after a standoff with India
IMF Executive Board to review $1.2 billion loan disbursement for Pakistan today
- Pakistan, IMF reached a Staff-Level Agreement in October for second review of $7 billion Extended Fund, climate fund program
- Economists view IMF bailout packages as essential for cash-strapped Pakistan grappling with a prolonged macroeconomic crisis
ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) is set to meet in Washington today to review a $1.2 billion loan disbursement for Pakistan, state media reported on Monday.
Pakistan and the IMF reached a Staff-Level Agreement (SLA) in October for the second review of a $7 billion Extended Fund Facility (EFF) and the first review of its $1.4 billion Resilience and Sustainability Facility (RSF).
The agreement between the two sides took place after an IMF mission, led by the international lender’s representative Iva Petrova, held discussions with Pakistani authorities during a Sept. 24–Oct. 8 visit to Karachi, Islamabad and Washington D.C.
“The International Monetary Fund’s (IMF) Executive Board is set to meet in Washington today to review and approve $1.2 billion in loan for Pakistan,” state broadcaster Pakistan TV reported.
Pakistan has been grappling with a prolonged macroeconomic crisis that has drained its financial resources and triggered a balance of payments crisis for the past couple of years. Islamabad, however, has reported some financial gains since 2022, which include recording a surplus in its current account and bringing inflation down considerably.
Economists view 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 including the IMF, World Bank, Asian Development Bank and Islamic Development Bank.
Speaking to Arab News last month, Pakistan’s former finance adviser Khaqan Najeeb said the $1.2 billion disbursement will further stabilize Pakistan’s near-term external position and unlock additional official inflows.
“Continued engagement also reinforces macro stability, as reflected in recent improvements in inflation, the current account, and reserve buffers,” Najeeb said.
Pakistan came close to sovereign default in mid-2023, when foreign exchange reserves fell below three weeks of import cover, inflation surged to a record 38% in May, and the country struggled to secure external financing after delays in its IMF program. Fuel shortages, import restrictions, and a rapidly depreciating rupee added to the pressure, while ratings agencies downgraded Pakistan’s debt and warned of heightened default risk.
The crisis eased only after Pakistan reached a last-minute Stand-By Arrangement with the IMF in June 2023, unlocking emergency support and preventing an immediate default.
