QUETTA: Militants ambushed a convoy of Pakistani oil and gas workers escorted by paramilitary troops in the restive southwestern province of Balochistan on Thursday, killing 15 people, intelligence officials said.
The attack was claimed by the Balochistan Liberation Front, a secessionist insurgent group that has operated in the region for decades.
According to two intelligence officials, seven employees of Pakistan’s Oil and Gas Development Company were killed, along with eight members of Pakistan’s Frontier Corps who were protecting the convoy.
The attack took place in Ormara, not far from Gwadar Port, being developed by China, on the Arabian Sea. The port is a key component of Beijing’s multi-billion dollar road-and-belt project linking Beijing to Central and South Asia.
Both the Balochistan Liberation Front and the Balochistan Liberation Army operate in the southwestern Balochistan province, staging relentless attacks to press their demands for independence. They have taken particular aim at the multi-billion dollar China-Pakistan Economic Corridor. The project — including everything from roads to power plants — will link Pakistan’s Gwadar to Kashgar in China’s Xinjiang province.
The Chief Minister of Balochistan Jam Kamal condemned the ambush, calling it a “cowardly terrorist attack.”
The secessionists have taken responsibility for attacks on the Karachi Stock Exchange earlier this year, the Intercontinental Hotel in Gwadar last year and the Chinese Consulate in Karachi.
Thursday’s attack is the second in as many days. On Wednesday, six Pakistani troops were killed in North Waziristan and another soldier was killed in Bajur region, both former tribal areas that are now part of Khyber Pukhtunkhwa province which, like Balochistan, borders Afghanistan.
Pakistan’s border areas served as a base for the Pakistani Taliban and other militants until a few years ago, when the army claimed it cleared the region of insurgents, though occasional attacks have continued, raising fears the Pakistani Taliban are regrouping.
There was no immediate comment from the military on the Balochistan attack.
Pakistan officials: Militants ambush oil convoy, killing 15
https://arab.news/2w7nx
Pakistan officials: Militants ambush oil convoy, killing 15
- Seven employees of Pakistan’s Oil and Gas Development Company were killed along with eight members of Pakistan’s Frontier Corps who were protecting the convoy
- The attack took place in Ormara, not far from Gwadar Port, being developed by China on the Arabian Sea
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.
