ISLAMABAD: Pakistan will host the Shanghai Cooperation Organization’s Council of Heads of Government meeting in October this year and invite all members, including India, to attend the gathering in person in Islamabad, the foreign office spokesperson said on Thursday.
Founded by China and Russia in 2001, the SCO is a prominent Eurasian entity focused on political, economic, international security and defense matters.
It is the world’s largest regional organization by geographic coverage and population, encompassing about 80 percent of Eurasia and 40 percent of the world population.
Pakistan became an SCO member in June 2017, after holding observer status from 2005 to 2017.
“The year 2024 is an important milestone for Pakistan-SCO relations, as Pakistan holds the rotating chairmanship of the SCO Council of Heads of Government, which is the second highest decision-making forum of the SCO,” Mumtaz Zahra Baloch, the foreign office spokesperson, informed during her weekly media briefing.
“In that capacity, Pakistan will host the SCO Heads of Government meeting in October this year,” she added.
Baloch said the October conference would be preceded by a ministerial meeting and several rounds of high-level official talks among SCO member states, focusing on financial, economic, social, cultural and humanitarian cooperation.
She added the conference would be held as per the SCO procedures and in-person attendance of heads of government.
“So, in our capacity as the chair, we will be extending invitations to all heads of government of SCO member states,” she added.
Baloch hoped all members of the regional grouping would be represented at the conference, which is expected to focus on trade, investment and economic connectivity.
Pakistan’s nuclear-armed neighbor, India, is also part of the SCO. The two countries have a history of strained relations and have fought several wars and border skirmishes since their independence in 1947.
India boycotted the summit of the South Asian Association for Regional Cooperation (SAARC) in 2016, which was scheduled to be held in Islamabad.
Pakistan to host SCO members, including India, at October conference in Islamabad
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Pakistan to host SCO members, including India, at October conference in Islamabad
- Pakistan currently holds the rotating chairmanship of Shanghai Cooperation Organization’s Council of Heads of Government
- The foreign office spokesperson says Pakistan hopes all members of the regional grouping will be able to attend the conference
IMF mission begins talks in Islamabad as Pakistan seeks next program review
- Finance ministry confirms ‘kick-off meeting’ with visiting IMF delegation
- Review critical for next tranche under $7 billion bailout program
Karachi: Pakistan began formal talks with a visiting International Monetary Fund (IMF) delegation on Monday as the country prepares for the next review of its $7 billion bailout program.
The IMF team is in Pakistan to conduct a review under the Extended Fund Facility (EFF) approved in September 2024, a multi-year program aimed at stabilizing the economy after a balance-of-payments crisis, high inflation and dwindling foreign exchange reserves.
Pakistan has so far received roughly $3 billion of the EFF. Successful completion of the latest review could pave the way for the release of the next tranche of funds, subject to IMF board approval.
Separately in 2024, Pakistan also secured about $1.3 billion under the IMF’s Resilience and Sustainability Facility, a climate-focused funding window aimed at strengthening the country’s capacity to manage environmental and disaster-related risks.
“Kick-off meeting with IMF Mission held today,” the finance ministry said on Monday as it shared visuals of Finance Minister Muhammad Aurangzeb and senior officials meeting the delegation in Islamabad.
IMF country representative in Pakistan, Mahir Binici, told Arab News in an emailed statement;
“An IMF mission led by Ms. Iva Petrova has started discussions with the authorities in Karachi and Islamabad on the third review of Pakistan’s Extended Fund Facility (EFF) arrangement and the second review of the Resilience and Sustainability Facility (RSF).”
The discussions are expected to focus on Pakistan’s fiscal performance, revenue collection targets, structural reform implementation and broader macroeconomic stability measures agreed under the program.
The review comes at a sensitive time for Pakistan’s economy, with rising global oil prices and regional instability adding pressure to inflation and external accounts. Analysts say continued IMF engagement remains crucial for maintaining investor confidence and securing external financing.
Pakistan entered the IMF program to restore macroeconomic stability, strengthen public finances and rebuild foreign exchange reserves. Authorities have repeatedly described the reform agenda as necessary to ensure long-term economic resilience.
Further meetings between technical teams are expected over the coming days.
