Gaza, Lebanon humanitarian crises in focus as Pakistan attends D8 summit in Cairo next week

Palestinians inspect damage at the site of an Israeli strike on a house, amid the Israel-Hamas conflict, at the Nuseirat refugee camp in the central Gaza Strip on December 12, 2024. (REUTERS)
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Updated 13 December 2024
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Gaza, Lebanon humanitarian crises in focus as Pakistan attends D8 summit in Cairo next week

  • D8 summit is gathering of leaders forms eight developing countries to promote economic cooperation and development
  • Ongoing Israeli military campaign in Gaza has killed over 44,000 people, injured thousands since Oct 7, 2023 Hamas attack 

ISLAMABAD: Pakistan will participate in the 11th D8 summit in Egypt next week where Israel’s military offensive on Gaza and the humanitarian crisis and reconstruction efforts in Lebanon will be at the center of discussions, the foreign office said.

The D8 Summit is a gathering of leaders from eight developing countries including Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkiye. It aims to promote economic cooperation and development among member states, with a focus on areas like trade, energy, agriculture, and transportation.

The ongoing Israeli military campaign in Gaza has killed more than 44,000 people and injured thousands more since Oct 7, 2023 attacks by Hamas in which Israel says 1,200 people were killed and 250 taken hostage. Israel also stepped up its campaign in south Lebanon in late September after nearly a year of cross-border exchanges begun by Hezbollah in support of its ally Hamas.

“Pakistan will be participating in the D8 summit being held in Cairo on Dec. 19,” Foreign Office spokesperson Mumtaz Zahra Baloch said during a weekly press briefing on Thursday. “The D8 summit will also have a special session on humanitarian crisis and reconstruction challenges in Gaza and Lebanon.”

She said Pakistan would also participate in the D8 Council of Ministers meeting, reaffirming that the South Asian nation supported the D8 agenda and would work toward the summit’s success.

The D8 summit was last held virtually in 2021 during the COVID-19 pandemic. 

The theme of this year’s summit is “investing in youth and supporting small and medium enterprises (SMEs) shaping tomorrow’s economy.”


Pakistan says repaid over $13.06 billion domestic debt early in last 14 months

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Pakistan says repaid over $13.06 billion domestic debt early in last 14 months

  • Finance adviser says repayment shows “decisive shift” toward fiscal discipline, responsible economic management
  • Says Pakistan’s total public debt has declined from over $286.6 billion in June 2025 to $284.7 billion in November 2025

KARACHI: Pakistan has repaid Rs3,650 billion [$13.06 billion] in domestic debt before time during the last 14 months, Adviser to the Finance Minister Khurram Schehzad said on Thursday, adding that the achievement reflected a shift in the country’s approach toward fiscal discipline. 

Schehzad said Pakistan has been repaying its debt before maturity, owed to the market as well as the State Bank of Pakistan (SBP), since December 2024. He said the government had repaid the central bank Rs300 billion [$1.08 billion] in its latest repayment on Thursday. 

“This landmark achievement reflects a decisive shift toward fiscal discipline, credibility, and responsible economic management,” Schehzad wrote on social media platform X. 

Giving a breakdown of what he said was Pakistan’s “early debt retirement journey,” the finance official said Pakistan retired Rs1,000 billion [$3.576 billion] in December 2024, Rs500 billion [$1.78 billion] in June 2025, Rs1,160 billion [$4.150 billion] in August 2025, Rs200 billion [$715 million] in October 2025, Rs494 billion [$1.76 billion] in December 2025 and $1.08 billion in January 2026. 

He said with the latest debt repaid today, the July to January period of fiscal year 2026 alone recorded Rs2,150 billion [$7.69 billion] in early retirement, which was 44 percent higher than the debt retired in FY25.

He said of the total early repayments, the government has repaid 65 percent of the central bank’s debt, 30 percent of the treasury bills debt and five percent of the Pakistan Investment Bonds (PIBs) debt. 

The official said Pakistan’s total public debt has declined from over Rs 80.5 trillion [$286.6 billion] in June 2025 to Rs80 trillion [$284.7 billion] in November 2025. 

“Crucially, Pakistan’s debt-to-GDP ratio, around 74 percent in FY22, has declined to around 70 percent, reflecting a broader strengthening of fiscal fundamentals alongside disciplined debt management,” Schehzad wrote. 

Pakistan’s government has said the country’s fragile economy is on an upward trajectory. The South Asian country has been trying to navigate a tricky path to economic recovery under a $7 billion loan from the International Monetary Fund.