Pakistan’s army chief vows to create favorable environment for economic development in Khyber Pakhtunkhwa

Pakistan army chief General Asim Munir addresses the passing out parade of cadets of the 147th PMA Long Course at the Pakistan Military Academy in Kakul, Pakistan, on April 29, 2023. (ISPR/File)
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Updated 28 September 2023
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Pakistan’s army chief vows to create favorable environment for economic development in Khyber Pakhtunkhwa

  • The country’s northwestern province has experienced a surge in extremist violence after the government-TTP truce ended last November
  • General Asim Munir says women in KP faced multifaceted challenges due to a prolonged war against militancy in their province

ISLAMABAD: Chief of Army Staff General Asim Munir said on Wednesday the country’s armed forces would continue to play their role to create a safe environment in Pakistan’s northwestern Khyber Pakhtunkhwa (KPK) province to ensure its economic progress.

The army chief made the statement during his visit to Peshawar where he was received by the top general and briefed about the overall security situation, including initiatives against smuggling, hoarding and drug trafficking.

Pakistan has experienced a surge in militancy, particularly in Khyber Pakhtunkhwa which shares its western border with Afghanistan, after a fragile truce between the proscribed Tehreek-e-Taliban Pakistan (TTP) and the government in Islamabad collapsed in November last year.

The Pakistani administration is also trying to generate economic activity across the country to deal with tough financial challenges, though security challenges in places like the northwestern province and Balochistan have impeded its efforts.

Pakistan Army will continue to play its role in ensuring peace and stability in KPK to provide a secure environment for economic development

“We have to synergize our efforts for peace and prosperity of our beloved country,” the army’s media wing, ISPR, quoted him as saying during the visit. “Pakistan Army will continue to play its role in ensuring peace and stability in KPK to provide a secure environment for economic development.”

The army chief also had an interactive session with the women of the province at the “KPK Women Symposium, 2023.”

Addressing the participants of the gathering, he said that women had played a vital role in the progress of the country throughout Pakistan’s history.

He acknowledged that women of Khyber Pakhtunkhwa had faced multifaceted challenges due to the country’s prolonged war against extremism in their province. However, he also applauded them for their “resilience, commitment and bravery” in the face of all odds.

The army chief also encouraged them to participate in the progress and development of their province and the newly merged tribal territories.


Rating firm S&P says it won’t rush Iran war downgrades, sees risks for countries like Pakistan

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Rating firm S&P says it won’t rush Iran war downgrades, sees risks for countries like Pakistan

  • Agency says it is monitoring indebted energy importers as higher oil prices strain finances
  • Gulf economies seen better placed to weather shock, though Bahrain flagged as vulnerable

LONDON: S&P Global ‌said it would not make any knee-jerk sovereign rating cuts following the outbreak of war in the ​Middle East, but warned on Thursday that soaring oil and gas prices were putting a number of already cash-strapped countries at risk.

The firm’s top analysts said in a webinar that the conflict, which has involved US and Israeli strikes ‌against Iran and Iranian ‌strikes against Israel, ​US ‌bases ⁠and Gulf ​states, ⁠was now moving from a low- to moderate-risk scenario.

Most Gulf countries had enough fiscal buffers, however, to weather the crisis for a while, with more lowly rated Bahrain the only clear exception.

Qatar’s banking sector could ⁠also struggle if there were significant ‌deposit outflows in ‌reaction to the conflict, although there ​was no evidence ‌of such strains at the moment, they ‌said.

“We don’t want to jump the gun and just say things are bad,” S&P’s head global sovereign analyst, Roberto Sifon-Arevalo, said.

The longer the crisis ‌was prolonged, though, “the more difficult it is going to be,” he ⁠added.

Sifon-Arevalo ⁠said Asia was the second-most exposed region, due to many of its countries being significant Gulf oil and gas importers.

India, Thailand and Indonesia have relatively lower reserves of oil, while the region also had already heavily indebted countries such as Pakistan, Bangladesh and Sri Lanka whose finances would be further hurt by rising energy prices.

“We ​are closely monitoring ​these (countries) to see how the credit stories evolve,” Sifon-Arevalo said.