ISLAMABAD: Pakistan hopes that the new Indian government would take steps for the advancement of peace in the region and the resolution of Kashmir dispute, the Pakistani Foreign Office said on Friday.
The development came as Indian Prime Minister Narendra Modi was formally elected as the leader of the National Democratic Alliance coalition, which won the most number of seats in the country’s national election after his political party failed to win a majority on its own.
Modi’s Hindu nationalist Bharatiya Janata Party (BJP) has governed India as part of the NDA coalition over the past decade, but this is the first time under his leadership that the party has needed support from its regional allies to form a government. Modi, who will be sworn in as PM on Sunday for a rare third term, will now form a coalition government.
Modi’s government canceled the limited autonomy Kashmir had under India’s constitution in 2019, a move accompanied by a huge security clampdown, mass arrests of local political leaders and a months-long telecommunications blackout.
Speaking at a press briefing on Friday, Foreign Office spokesperson Mumtaz Zahra Baloch said Pakistan always desired cooperative relations with all its neighbors, including India, and consistently advocated constructive dialogue and engagement to resolve Kashmir and all outstanding issues.
“We want peace and stability in the region and Pakistan has been acting in a responsible manner, notwithstanding the difficulties and rhetoric coming from India,” she said.
“We hope that India will take steps to create a conducive environment for advancement of peace and dialogue and resolution of long-standing dispute for the mutual benefit of the peoples of Pakistan and India.”
Kashmir has been divided between India and Pakistan since their independence in 1947. Both claim it in full and have fought two wars over control of the Himalayan region.
Separatist groups opposed to Indian rule have waged an insurgency since 1989 on the side of the frontier controlled by New Delhi, demanding either independence or a merger with Pakistan.
The conflict has killed tens of thousands of soldiers, separatists and civilians in the decades since, including a spate of firefights between suspected militants and security forces in the past month. India accuses Pakistan of supporting the separatists, a charge denied by Islamabad.
Baloch said India’s revocation of the semi-autonomous status of the territory it controls had “vitiated” the bilateral environment. “In any case, Pakistan believes in peaceful coexistence,” she added.
Pakistan hopes new Indian government will take steps for peace, resolution of Kashmir dispute
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Pakistan hopes new Indian government will take steps for peace, resolution of Kashmir dispute
- The development comes a day before Narendra Modi is expected to be sworn in as Indian premier for a rare third term
- Modi’s government canceled limited autonomy of Indian-administered Kashmir in 2019, deteriorating ties with Pakistan
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.
