ISLAMABAD: Pakistan’s top civilian and military leaders will carry out a security review on Friday on the standoff with Iran, the information minister said, after the neighbors carried out drone and missile strikes on militant bases in each other’s territory.
Caretaker Prime Minister Anwaar ul Haq Kakar will chair a meeting of the National Security Committee, with all the military services chiefs in attendance, the minister, Murtaza Solangi, told Reuters by telephone.
It aims at a “broad national security review in the aftermath of the Iran-Pakistan incidents,” Solangi said. Kakar cut short a visit to the World Economic Forum in Davos and flew home on Thursday.
The tit-for-tat strikes by the two countries are the highest-profile cross-border intrusions in recent years and have raised alarm about wider instability in the Middle East since the war between Israel and Hamas erupted on Oct. 7.
However, both sides have already signalled a desire to cool tensions, the highest in years, although they have had a history of rocky relations.
Iran said Thursday’s strikes killed nine people in a border village on its territory, including four children. Pakistan said the Iranian attack on Tuesday killed two children.
United Nations Secretary-General Antonio Guterres urged the two nations to exercise maximum restraint. The US also urged restraint although President Joe Biden said the clashes showed that Iran is not well liked in the region.
Islamabad said it hit bases of the separatist Baloch Liberation Front and Baloch Liberation Army, while Tehran said its drones and missiles targeted militants from the Jaish al Adl (JAA), a third group.
The targeted militant groups operate in an area that includes Pakistan’s southwestern province of Balochistan and Iran’s southeastern Sistan-Baluchestan province. Both are restive, mineral-rich and largely underdeveloped.
The groups which Islamabad targeted inside Iran have been waging an armed insurgency for decades against the Pakistani state, including attacks against Chinese citizens and investments in Balochistan.
The JAA, which Iran targeted, is also an ethnic militant group, but with Sunni Islamist leanings that primarily Shiite Iran sees as a threat.
The group, which has had links to Islamic State, has carried out attacks in Iran against its powerful Revolutionary Guard Corps.
Against the backdrop of the war in Gaza, Iran and its allies had been flexing their muscles in the region, even before its cross-border incursion into Pakistan.
Iran launched strikes on Syria against what Tehran said were Islamic State sites, and Iraq, where it said it had struck an Israeli espionage center.
The Iran-backed Houthi militia in Yemen have targeted shipping in the Red Sea since November, saying they are acting in solidarity with Palestinians.
Pakistan’s civil, military leaders to review Iran standoff — minister
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Pakistan’s civil, military leaders to review Iran standoff — minister
- Neighbours carried out drone and missile strikes on militant bases in each other’s territory this week
- PM Kakar cut short a visit to the World Economic Forum in Davos and flew home on Thursday
Pakistan reports current account surplus in Jan. owing to improved trade, remittances
- Pakistan’s exports crossed the $3 billion mark in Jan. as the country received $3.5 billion in remittances
- Last month, IMF urged Pakistan to accelerate pace of structural reforms to strengthen economic growth
ISLAMABAD: Pakistan recorded a current account surplus of more than $120 million in January, the country’s finance adviser said on Tuesday, attributing it to improved trade balance and remittance inflows.
Pakistan’s exports rebounded in January 2026 after five months of weak performance, rising 3.73 percent year on year and surging 34.96 percent month on month, according to data released by the country’s statistics bureau.
Exports crossed the $3 billion mark for the first time in January to reach $3.061 billion, compared to $2.27 billion in Dec. 2025. The country received $3.5 billion in foreign remittances in Jan. 2026.
Khurram Schehzad, an adviser to the finance minister, said Pakistan reported a current account surplus of $121 million in Jan., compared to a current account deficit of $393 million in the same month last year.
“Improved trade balance in January 2026, strong remittance inflows, and sustained momentum in services exports (IT/Tech) continue to reinforce the country’s external account position,” he said on X.
Pakistan has undergone a difficult period of stabilization, marked by inflation, currency depreciation and financing gaps, and international rating agencies have acknowledged improvements after Islamabad began implementing reforms such as privatizing loss-making, state-owned enterprises (SOEs) and ending subsidies as part of a $7 billion International Monetary Fund (IMF) loan program.
Late last month, the IMF urged Pakistan to accelerate the pace of these structural reforms to strengthen economic growth.
Responding to questions from Arab News at a virtual media roundtable on emerging markets’ resilience, IMF’s director of the Middle East and Central Asia Jihad Azour said Islamabad’s implementation of the IMF requirements had been “strong” despite devastating floods that killed more than 1,000 people and devastated farmland, forcing the government to revise its 4.2 percent growth target to 3.9 percent.
“What is important going forward in order to strengthen growth and to maintain the level of macroeconomic stability is to accelerate the structural reforms,” he said at the meeting.
Azour underlined Pakistan’s plans to privatize some of the SOEs and improve financial management of important public entities, particularly power companies, as an important way for the country to boost its capacity to cater to the economy for additional exports.
“This comes in addition to the effort that the authorities have made in order to reform their tariffs, which will allow the private sector of Pakistan to become more competitive,” the IMF official said.
