ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have made “significant progress” on the first review of a $7 billion loan program Islamabad secured last year, the IMF mission chief said on Friday.
The South Asian country, which has faced an economic meltdown in recent years, is treading a long path to economic recovery under the $7 billion IMF program it secured in Sept. last year.
An IMF mission visited Pakistan from Feb. 24 till Mar. 14 to analyze Islamabad’s progress on key conditions as part of the first review of the facility. A successful review will result in the release of around $1 billion as second installment under the program.
In a statement on Friday, IMF Mission Chief Nathan Porter said the two sides made significant progress toward reaching a staff-level agreement on the first review under the 37-month program, and they would continue policy discussions virtually to finalize the review over the coming days.
“Program implementation has been strong, and the discussions have made considerable progress in several areas including the planned fiscal consolidation to durably reduce public debt, maintenance of sufficiently tight monetary policy to maintain low inflation, acceleration of cost-reducing reforms to improve energy sector viability, and implementation of Pakistan’s structural reform agenda to accelerate growth, while strengthening social protection and rebuilding health and education spending,” Porter said.
Pakistan’s Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb have previously said they were confident of meeting targets of the IMF program.
The South Asian country was able to build some trust with the IMF by completing a short-term, nine-month program last year. Previous loan programs in Pakistan ended prematurely or saw delays after the governments at the time faltered on meeting key conditions.
Pakistan also seeks to secure an additional $1.5 billion loan from the IMF to deal with climate-related issues under a Resilience and Sustainability Facility (RSF) arrangement.
“Progress has also been made in discussions on the authorities’ climate reform agenda, which aims to reduce vulnerabilities from natural disasters-related risks, and accompanying reforms which could be supported under a possible arrangement under the Resilience and Sustainability Facility (RSF),” Porter said.
“The IMF team is grateful to the Pakistani authorities, private sector, and development partners for fruitful discussions and their hospitality throughout this mission.”
Pakistan, IMF make ‘significant progress’ on first review of $7 billion program — IMF mission chief
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Pakistan, IMF make ‘significant progress’ on first review of $7 billion program — IMF mission chief
- The development comes as an IMF mission concluded its weeks-long visit to Pakistan to review Islamabad’s progress on key conditions under the program
- Progress has also been made in discussions on Pakistan’s climate reform agenda, which aims to reduce natural disasters-related vulnerabilities, IMF says
Islamabad legal fraternity to rally today against Pakistani lawyer couple’s sentencing
- Imaan Zainab Mazari-Hazir, husband Hadi Ali Chattha were sentenced to 17 years in prison over social media posts critical of military
- Islamabad High Court Bar Association announces day-long strike, Human Rights Commission of Pakistan to organize protest in Karachi today
ISLAMABAD: Lawyers in Pakistan’s capital have gone on strike and will stage a protest today, Monday, against a court’s decision sentencing rights lawyer Imaan Zainab Mazari-Hazir and her husband Hadi Ali Chattha to a cumulative 17 years in prison over social media posts, a senior Islamabad Bar Association (IBA) member said.
Mazari-Hazir and Chattha were arrested on Friday while they were on their way to a court appearance, after which they were remanded to two weeks in judicial custody. Authorities had accused Mazari-Hazir and Chattha of violating the Prevention of Electronic Crimes Act (PECA) over posts on X that they said incited ethnic divisions and portrayed the military as being involved in “terrorism.” Both deny the allegations.
In a written verdict on Saturday, Additional District and Sessions Judge Muhammad Afzal Majoka said the prosecution had proved its case against both defendants under Sections 9, 10 and 26-A of the Prevention of Electronic Crimes Act (PECA), while acquitting them of a separate hate-speech charge.
A joint meeting of the IBA, Islamabad Bar Council and Islamabad High Court Bar Association was held on Saturday. The IBA announced a three-day strike from Jan. 26-28 against Mazari-Hazir and Chattha’s arrest following the meeting. It said the strike was also being held against the police’s alleged manhandling of senior IBA members while the couple was arrested, adding that lawyers were not allowed to attend their hearing.
“Since then, the sentence has been announced, which we believe was done without hearing the accused, a key legal requirement,” IBA Secretary Raja Khawar Nawaz Dhanyal told Arab News. “We therefore also protest the sentencing of Imaan and Hadi and demand that the sentence be suspended. We will also hold a rally today.”
An earlier press release from the IBA said the rally would take place at 11:00 am at the district court in Islamabad’s G-11 sector.
Dhanyal said the IBA also demands that full details of any cases lodged against Mazari-Hazir and Chattha should be disclosed.
Islamabad High Court Bar Association President Wahid Gilani also said its members were observing a strike against the sentencing.
“It’s a day-long strike, we will decided next line of action in the evening,” Gilani told Arab News.
Separately, the Human Rights Commission of Pakistan (HRCP) said it was organizing a protest against the Mazari-Hazir and Chattha’s arrest in Pakistan’s southern port city of Karachi on Monday evening.
The rights body said the protest will be held at the Karachi Press Club at 4:30 pm.
“HRCP Chairperson Asad Butt appeals to activists, lawyers and civil society members to join the protest to reclaim civil space and defend freedom of expression in Pakistan,” it said.
Pakistan’s Information Minister Attaullah Tarar had reacted to news of the couple’s sentencing on Saturday by writing on social media platform: “As you sow, so shall you reap.”
