Two militants killed in northwest Pakistan shootout — military

An army soldier examines damages on the site of a bombing at a police station on the outskirts of Dera Ismail Khan, Pakistan, on December 12, 2023. (AP/File)
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Updated 02 February 2024
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Two militants killed in northwest Pakistan shootout — military

  • The shootout occurred during an intelligence-based operation in Dera Ismail Khan district of Pakistan’s Khyber Pakhtunkhwa province
  • The development comes amid an increase in militant violence in the South Asian country as it heads to national elections on Feb. 8

ISLAMABAD: Two militants, including a high-value target (HVT), were killed in a shootout with Pakistani security forces in the country’s restive northwest on Thursday, the Pakistani military said.

The shootout occurred during an intelligence-based operation in the Dera Ismail Khan district of Pakistan’s Khyber Pakhtunkhwa province, according to the Inter-Services Public Relations (ISPR), the military’s media wing.

The deceased militants were identified as HVT Ashraf Sheikh and Burhan Ullah.

“Weapons, ammunition and explosives were also recovered from the killed terrorists who remained actively involved in numerous terrorist activities including target killing of innocent civilians,” the ISPR said in a statement.

“Sanitization operation is being conducted to eliminate any other terrorist found in the area.”

The development comes amid a rise in militant violence in Pakistan’s northwestern and southwestern regions as the South Asian country heads to national elections on February 8.

A national assembly candidate was shot dead on Wednesday in Khyber Pakhtunkhwa, while another political leader was shot dead in his party’s election office in Balochistan on the same day.

On Tuesday, a bomb attack following an election rally killed four people in Balochistan. Daesh claimed responsibility.

The attacks first surged after the Tehreek-e-Taliban Pakistan (TTP) called off its months-long truce with the government in Islamabad more than a year ago. The militant group, which is said to have sanctuaries in the neighboring Afghanistan, is separate from but a close ally of the Afghan Taliban.  

However, Pakistan’s Caretaker Interior Minister Gohar Ejaz said on Thursday the elections would go ahead as scheduled, following a meeting summoned by the election commission to discuss increasing pre-poll violence in the country.


Pakistan says Panda bond launch to diversify funding, avoid overreliance on dollar

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Pakistan says Panda bond launch to diversify funding, avoid overreliance on dollar

  • Pakistan has said it plans to issue its first-ever yuan-denominated Panda bond in January 2026
  • Pakistan minister identifies agriculture, minerals, AI as key areas to attract Chinese investment

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb said on Tuesday that launching its first-ever Panda bond would allow Islamabad to diversify its external financing sources away from overreliance on the US dollar, the Finance Division said. 

Pakistan has said it aims to launch the Panda bond— a yuan-denominated bond issued in China’s domestic market— by January next year. This highlights Pakistan’s efforts to find alternatives to dollar-denominated borrowing as global financial conditions tighten and Islamabad looks to escape a prolonged macroeconomic crisis. 

Panda bonds are renminbi-denominated instruments sold to Chinese investors by foreign governments or companies, offering issuers access to China’s deep domestic capital markets while reducing exposure to foreign-exchange volatility.

“He said the [Panda bond] issuance would allow Pakistan to tap into the second-largest and second-deepest capital market in the world, helping diversify funding sources away from overreliance on the US dollar by complementing existing access to euro and sukuk markets,” the Finance Division said. 

Aurangzeb was speaking to the state-owned China Global Television Network (CGTN), the Finance Division said. 

The finance minister acknowledged Pakistan had “previously underutilized” the opportunity to take advantage of the Panda bond, expressing optimism about investor interest in the Chinese market.

He said Pakistan remains hopeful of launching the bond ahead of the Chinese New Year, calling it a “landmark development” in the country’s external financing strategy. 

In response to a question about Pakistan’s economic priorities, Aurangzeb identified agriculture, minerals and mining, artificial intelligence and digital economy as key areas where Islamabad could attract Chinese investment. 

“He emphasized that beyond capital flows, this phase of cooperation places strong emphasis on knowledge transfer and technical support,” the Finance Division said.