ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday described 2024 as a year of economic recovery and expressed hope for self-reliance in the new year, while acknowledging persistent security challenges caused by a surge in militant violence.
Pakistan narrowly avoided a sovereign debt default in 2023 after securing short-term external financing from the International Monetary Fund (IMF) under a $3 billion bailout program.
The agreement required Islamabad to implement stringent economic reforms, including subsidy cuts and utility price hikes, to stabilize its fragile economy. While macroeconomic indicators have since improved, many Pakistanis continue to grapple with the lingering effects of years of financial turmoil and the burden of reforms.
The government also managed to secure another IMF loan of $7 billion last year in September, saying it was important to get the money to consolidate the economic gains.
“2024 was a remarkable year for Pakistan, as we marched from default to development, overcoming economic challenges with resilience and determination,” Sharif wrote on X, formerly Twitter. “We made difficult but necessary decisions that rescued our economy from collapse, restored macroeconomic stability, controlled fiscal deficits, and strengthened our reserves. As a result, inflation has come down to single digits, and the prospects for economic growth have been revived.”
“We step into 2025 with renewed determination to achieve economic self-reliance and chart a brighter, more prosperous future for our nation,” he added.
Sharif’s remarks also addressed the security situation, highlighting Pakistan’s armed forces’ efforts to counter a renewed wave of militant violence.
“Amidst other challenges, Pakistan also faced a renewed surge in terrorism this year,” he said, reaffirming the military’s commitment to ensuring peace.
He credited the nation’s unwavering support for its forces in their fight against militants who, he maintained, “stand in stark opposition to the very idea of Pakistan.”
The prime minister also highlighted the launch of “Uraan Pakistan,” or “Fly Pakistan,” which is a homegrown five-year, export-oriented economic transformation plan unveiled by his administration a day earlier, which he described as a result of his government’s vision to build on recent stability and achieve sustained growth.
Pakistan PM vows to work for ‘economic self-reliance’ in 2025 amid security challenges
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Pakistan PM vows to work for ‘economic self-reliance’ in 2025 amid security challenges
- Shehbaz Sharif calls 2024 ‘a remarkable year of Pakistan’ in which it ‘marched from default to development’
- He acknowledges the renewed threat of militant violence while praising the military’s efforts to counter it
India says accomplice of Delhi car blast ‘suicide bomber’ arrested
- The explosion on Monday took place near a busy metro station close to the landmark Red Fort in the capital’s Old Delhi quarter
- It was the most significant security incident since 26 tourists were killed in Pahalgam on April 22, triggering clashes with Pakistan
NEW DELHI: Indian authorities said on Sunday that a deadly car blast in New Delhi last week was an attack carried out by a “suicide bomber,” announcing the arrest of an accomplice.
The National Investigation Agency (NIA), the country’s counter-terrorism law enforcement body, said the attacker and the second suspect were both from Indian-administered Kashmir, where police have carried out sweeping raids in recent days.
Announcing “a breakthrough” in the investigation, the NIA said it had arrested Amir Rashid Ali, describing him as an accomplice of the “suicide bomber” under whose name “the car involved in the attack was registered.”
He had come to Delhi to “facilitate the purchase of the car which was eventually used as a vehicle-borne Improvised Explosive Device (IED) to trigger the blast,” according to a statement from the counter-terrorism agency.
It identified the driver as Umar Un Nabi, a resident of Kashmir who was an assistant professor in general medicine at a university in the northern state of Haryana.
The explosion on Monday took place near a busy metro station close to the landmark Red Fort in the capital’s Old Delhi quarter, where the prime minister delivers the annual Independence Day address.
A hospital official has said the blast killed 12 people. It was unclear whether Nabi was included in the toll.
The NIA’s statement said the attack “claimed 10 innocent lives and left 32 others injured.”
The NIA said it had seized another vehicle belonging to Nabi.
Prime Minister Narendra Modi has called the attack a “conspiracy,” and his government vowed to bring the “perpetrators, their collaborators and their sponsors” to justice.
It was the most significant security incident since April 22, when 26 mainly Hindu civilians were killed at the tourist site of Pahalgam in Indian-administered Kashmir, triggering clashes with Pakistan.
Kashmir has been divided between India and Pakistan since their independence from British rule in 1947, and both claim the Himalayan territory in full. Tensions remain high between New Delhi and Islamabad.
