Pakistan required to keep public entities under finance ministry oversight — IMF

vhe seal for the International Monetary Fund is seen near the World Bank headquarters (R) in Washington, DC on January 10, 2022. (AFP/File)
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Updated 24 August 2023
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Pakistan required to keep public entities under finance ministry oversight — IMF

  • Pakistan has been discussing outsourcing operations of several of its state-owned assets to outside companies
  • In March, it kicked off outsourcing of operations and land assets at three airports to be run under a public private partnership

KARACHI: The International Monetary Fund’s (IMF) representative in Pakistan on Wednesday said that the reform process to which the government had agreed required the country to keep all state-owned enterprises (SOEs) under finance ministry oversight.

“Following through on the previously agreed 2021 triage reform process, and other governance and private sector reforms, is important to durably attract foreign investment,” the IMF’s Esther Perez Ruiz said in a statement to Reuters.

Pakistan has been discussing outsourcing operations of several of its state owned assets to outside companies. In March, it kicked off outsourcing of operations and land assets at three major airports to be run under a public private partnership, a move to generate foreign exchange reserves for its ailing economy.

The IMF reached a staff-level pact with Pakistan in June on a $3 billion stand-by arrangement (SBA), a decision long awaited by the South Asian nation which had been teetering on the brink of default.

Perez Ruiz said in the statement that it was “premature to consider what will follow the current SBA, which runs through early 2024.”


Pakistan army hits Afghan Taliban drone storage facility, ammunition depot in Jalalabad

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Pakistan army hits Afghan Taliban drone storage facility, ammunition depot in Jalalabad

  • Around 435 Afghan Taliban fighters killed, over 630 injured in Pakistani military offensive, minister says
  • Several countries, global bodies have urged both sides to exercise restraint since the conflict began last week

ISLAMABAD: Pakistan’s army struck a drone storage facility and ammunition depot of Afghan Taliban in Jalalabad, a Pakistani security official said on Monday, following Pakistani strikes on more than 50 locations in Afghanistan amid ongoing hostilities between the neighbors.

Pakistan launched Operation ‘Ghazb lil Haq’ against Afghanistan on the night of Feb. 26 following an attack by Afghanistan on Pakistani military installations along their shared border.

The worst fighting between the two neighbors in years erupted after Pakistani airstrikes targeted what Islamabad called militant hideouts inside Afghanistan on Feb. 21-22, accusing Kabul of harboring Tehreek-e-Taliban Pakistan (TTP) militants behind the attacks on its soil. Afghanistan denies the charge.

A Pakistani security official, who requested anonymity, said the army was continuing “strong retaliatory action” against the Afghan Taliban and blew up multiple border posts, forcing them to abandon their positions.

“Pakistan forces are effectively targeting the bases and military installations of the Fitna Al-Khawarij and the Afghan Taliban,” he said.

“During the effective counter-operation of the Pakistani forces, the ammunition depot and drone storage site of Fitna Al-Khawarij (TTP) and the Afghan Taliban in Jalalabad was destroyed.”

Separately, Pakistan’s Information Minister Attaullah Tarar said more than 400 Afghan Taliban fighters had been killed and over 630 wounded in the Pakistani military offensive so far.

Pakistan destroyed around 188 check posts and captured 31, according to a post on X by Tarar. Over 180 tanks, armored vehicles and artillery guns were also destroyed in Pakistani air raids at 51 locations across Afghanistan.

On Sunday, Pakistani state media shared a video of what it said were Pakistani soldiers crossing into Afghanistan in the northwest to capture an Afghan post. Pakistan has seized a 32-square-kilometer area of Afghanistan, another Pakistani security official said.

Afghan officials earlier said that dozens of Pakistani soldiers had been killed and several Pakistan posts had been captured by their forces. None of the casualty figures or battlefield claims from either side could be independently verified.

Since the conflict began last week, diplomatic efforts have intensified, with several countries and international bodies calling on both sides to exercise restraint.

The United Nations, along with China and Russia, has called for calm, while US President Donald Trump said Pakistan has the right to defend itself against cross-border militancy.