ISLAMABAD: Pakistan is looking forward to strengthening its relations with Canada under Prime Minister Mark Carney, Prime Minister Shehbaz Sharif said on Saturday, as he felicitated his new Canadian counterpart.
Ex-central banker Carney was sworn in as prime minister of Canada on Friday after overwhelmingly winning a Liberal Party vote to replace Justin Trudeau as leader.
Pakistan enjoys friendly relations with Canada, which was one of the first countries to recognize Pakistan as a sovereign independent state in 1947.
The two countries regularly hold bilateral consultation on political matters, while Pakistani diaspora in Canada numbers around 500,000. Islamabad has also awarded the Reko Diq gold mine project to a Canadian firm which is the largest in terms of foreign direct investment in Pakistan.
“I congratulate Mr. Mark Carney on being sworn in as the Prime Minister of Canada,” Sharif wrote on X. “Wish him a successful tenure in office and look forward to working with him to further strengthen Pakistan-Canada relations in all spheres.”
Over the years, the bilateral cooperation and engagement in the political, economic, and cultural arenas between Pakistan and Canada has witnessed a consistent upwards trajectory, according to the Pakistani foreign office. At present, there are two Pakistan-origin senators and six House of Commons members in the Canadian parliament, who act as a bridge between the two countries.
Carney’s election, however, comes at a time Ottawa has been rattled by collapsing cross-border relations since Donald Trump returned to power in January, launching a trade war and demanding that Canada surrender its independence to become the 51st US state.
Carney, a political novice, said he will fly to Paris and London next week, part of an effort to reinforce alliances overseas as ties with the United States unravel. Those talks will include trade and security.
Pakistan looks forward to strengthening ties with Canada under Mark Carney, PM Sharif says
https://arab.news/5vr6j
Pakistan looks forward to strengthening ties with Canada under Mark Carney, PM Sharif says
- Carney was sworn in after overwhelmingly winning a Liberal Party vote to replace Justin Trudeau
- Islamabad has friendly ties with Canada, which was one of the first countries to recognize Pakistan
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.
