ISLAMABAD: Pakistan’s Federal Investigation Agency (FIA) on Friday announced the arrest of a “most wanted” suspect in a shipwreck off Greece in June, which claimed hundreds of migrant lives.
On June 14, a weathered trawler foundered in the vicinity of Greece’s Peloponnese peninsula, with approximately 750 individuals from Pakistan, Egypt and Syria aboard who were bound for Italy from Libya. Only 104 of them were rescued.
Officials said more than 350 Pakistanis were among the passengers who were escaping challenging economic circumstances at home for a brighter future in Europe.
Following the tragedy, former prime minister Shehbaz Sharif had pledged to take decisive measures against human smugglers, prompting the FIA to initiate a campaign against the illicit operators.
“The most wanted human trafficker involved in the Greek boat accident has been arrested by the FIA’s Gujrat circle,” the anti-crime agency said in a statement.
The individual in question, Javed Hussain, had been sought by the FIA in connection with seven separate cases and was a key suspect in the Greek shipwreck, according to the statement. He was the “front man” of another most wanted human trafficker, Hamza Sunyara, who operates from Libya.
Hussain had evaded authorities and gone into hiding following the June 14 shipwreck.
“The suspect was running an international human trafficking network from Gujrat and was involved in illegally sending innocent citizens from Libya to Europe,” the FIA said.
FIA teams conducted multiple raids and utilized the latest forensic techniques to successfully apprehend the suspect, according to the agency. An investigation into the matter was underway.
Pakistan arrests ‘most wanted’ human trafficker linked with Greece shipwreck that killed hundreds
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Pakistan arrests ‘most wanted’ human trafficker linked with Greece shipwreck that killed hundreds
- On June 14, a weathered trawler foundered off Greece, with nearly 750 migrants aboard
- Officials estimated at the time that over 350 Pakistanis were aboard the ill-fated trawler
IMF warns against policy slippage amid weak recovery as it clears $1.2 billion for Pakistan
- Pakistan rebuilt reserves, cut its deficit and slowed inflation sharply over the past one year
- Fund says climate shocks, energy debt, stalled reforms threaten stability despite recent gains
ISLAMABAD: Pakistan’s economic recovery remains fragile despite a year of painful stabilization measures that helped pull the country back from the brink of default, the International Monetary Fund (IMF) warned on Thursday, after it approved a fresh $1.2 billion disbursement under its ongoing loan program.
The approval covers the second review of Pakistan’s Extended Fund Facility (EFF) and the first review of its climate-focused Resilience and Sustainability Facility (RSF), bringing total disbursements since last year to about $3.3 billion.
Pakistan entered the IMF program in September 2024 after years of weak revenues, soaring fiscal deficits, import controls, currency depletion and repeated climate shocks left the economy close to external default. A smaller stopgap arrangement earlier that year helped avert immediate default, but the current 37-month program was designed to restore macroeconomic stability through strict monetary tightening, currency adjustments, subsidy rationalization and aggressive revenue measures.
The IMF’s new review shows that Pakistan has delivered significant gains since then. Growth recovered to 3 percent last year after shrinking the year before. Inflation fell from over 23 percent to low single digits before rising again after this year’s floods. The current account posted its first surplus in 14 years, helped by stronger remittances and a sharp reduction in imports. And the government delivered a primary budget surplus of 1.3 percent of GDP, a key program requirement. Foreign exchange reserves, which had dropped dangerously low in 2023, rose from US$9.4 billion to US$14.5 billion by June.
“Pakistan’s reform implementation under the EFF arrangement has helped preserve macroeconomic stability in the face of several recent shocks,” IMF Deputy Managing Director Nigel Clarke said in a statement after the Board meeting.
But he warned that Islamabad must “maintain prudent policies” and accelerate reforms needed for private-sector-led and sustainable growth.
The Fund noted that the 2025 monsoon floods, affecting nearly seven million people, damaging housing, livestock and key crops, and displacing more than four million, have set back the recovery. The IMF now expects GDP growth in FY26 to be slightly lower and forecasts inflation to rise to 8–10 percent in the coming months as food prices adjust.
The review warns Pakistan against relaxing monetary or fiscal discipline prematurely. It urges the State Bank to keep policy “appropriately tight,” allow exchange-rate flexibility and improve communication. Islamabad must also continue raising revenues, broadening the tax base and protecting social spending, the Fund said.
Despite the progress, Pakistan’s structural weaknesses remain severe.
Power-sector circular debt stands at about $5.7 billion, and gas-sector arrears have climbed to $11.3 billion despite tariff adjustments. Reform of state-owned enterprises has slowed, including delays in privatizing loss-making electricity distributors and Pakistan International Airlines. Key governance and anti-corruption reforms have also been pushed back.
The IMF welcomed Pakistan’s expansion of its flagship Benazir Income Support Program, which raises cash transfers for low-income families and expands coverage, saying social protection is essential as climate shocks intensify. But it warned that high public debt, about 72 percent of GDP, thin external buffers and climate exposure leave the country vulnerable if reform momentum weakens.
The Fund said Pakistan’s challenge now is to convert short-term stabilization into sustained recovery after years of economic volatility, with its ability to maintain discipline, rather than the size of external financing alone, determining the durability of its gains.
