ISLAMABAD: United Nations (UN) chief Antonio Guterres said on Monday that Pakistan and India must exert “maximum restraint” as the Organization of Islamic Cooperation (OIC) expressed “deep concern” over the deteriorating security environment in South Asia, amid soaring tensions between the two neighbors over an attack in the disputed Kashmir region.
New Delhi has blamed Islamabad for backing the attack that killed 26 tourists in Indian-administered Kashmir’s Pahalgam town on April 22. Islamabad has denied the charge, with both sides announcing tit-for-tat measures.
There have been fears that India may conduct limited strikes close to its border with Pakistan, while the Pakistan military said on Monday that it had conducted a second missile test since the standoff began.
Guterres told reporters in New York that Pakistan-India relations had reached “a boiling point,” condemning the April 22 attack and calling for those responsible to be brought to justice through “credible and lawful means.”
“It is also essential, especially at this critical hour, to avoid a military confrontation that could easily spin out of control,” he said.
“Now is the time for maximum restraint and stepping back from the brink. Make no mistake: a military solution is no solution.”
No group has claimed responsibility for the April 22 attack in Indian-administered Kashmir, where several outfits have waged an insurgency since 1989.
Pakistan has denied any involvement and called for a credible, international probe into it as international pressure continues to pile on both New Delhi and Islamabad to de-escalate.
Separately, the OIC Group in New York, which represents the OIC’s interests and voice at the UN, expressed its “deep concern” over the situation in South Asia, exacerbated by India’s “unfounded allegations” against Pakistan, which it said were “inflaming tensions in an already volatile region.”
“The OIC Group reiterates its principled position against, and condemnation of terrorism in all its forms and manifestations, committed by whomsoever and wherever; and reaffirms its unequivocal rejection of all attempts to associate any country, race, religion, culture or nationality with terrorism,” it said in a statement.
“The Group commends the offer of good offices made by the UN Secretary General and calls upon the international community, including the United Nations Security Council and influential states, to take immediate and credible measures to de-escalate the situation.”
Bitter foes Pakistan and India, which were carved out of the Subcontinent at the bloody end of British rule in 1947, have fought multiple wars, including two over Kashmir.
Indian Prime Minister Narendra Modi has given his military “full operational freedom” to respond to the Pahalgam attack and Islamabad has warned it will hit back in kind against any aggression.
Speaking to reporters, Guterres said he was ready to offer his good offices to both countries to defuse tensions.
“The United Nations stands ready to support any initiative that promotes de-escalation, diplomacy, and a renewed commitment to peace,” he added.
UN urges ‘maximum restraint’ as OIC group voices concern over India-Pakistan standoff
https://arab.news/nj887
UN urges ‘maximum restraint’ as OIC group voices concern over India-Pakistan standoff
- Relations between the nuclear-armed neighbors have plummeted after India accused Pakistan of backing an attack in Kashmir that killed 26 tourists
- Pakistan has denied the allegation and called for a credible, international probe as pressure mounts on both New Delhi and Islamabad to de-escalate
Pakistan finance minister touts debt discipline, export focus at Davos panel
- Aurangzeb says debt must fund exports, not consumption, for sustainable growth
- He says Pakistan used fiscal buffers to respond to floods without external appeals
KARACHI: Pakistan’s Finance Minister Muhammad Aurangzeb said on Wednesday disciplined borrowing, export-led growth and careful debt management were central to stabilizing the country’s economy, as Islamabad looks to unlock new sources of growth amid rising global debt levels.
Speaking at a panel discussion on the sidelines of the World Economic Forum (WEF) in Davos, he said debt was not inherently harmful if used productively, but warned that emerging economies such as Pakistan could not afford to deploy borrowed funds for consumption.
“For countries like Pakistan, debt must be channeled into investments that generate exportable surplus,” Aurangzeb said, according to a statement circulated by the Finance Division. “It is not about the availability of debt or funding, but how wisely and effectively it is steered to create long-term economic value.”
Pakistan has been pursuing fiscal reforms as part of an International Monetary Fund-backed stabilization program, including cutting subsidies, broadening the tax base and restructuring state-owned enterprises, as the government seeks to restore macroeconomic stability and revive growth.
Aurangzeb said Pakistan had reduced its debt-to-GDP ratio to 70 percent from 75 percent, achieved a primary fiscal surplus and brought inflation down from a peak of 38 percent to single digits, allowing the central bank to cut its policy rate to 10.5 percent.
He also flagged ongoing debt-management reforms, including liability management operations and buybacks, and said Pakistan plans to enter China’s capital markets with its first Panda bond, structured as a green bond.
Addressing climate risks, Aurangzeb said building fiscal buffers had allowed Pakistan to respond to recent floods using domestic resources rather than international emergency appeals, underscoring the need for resilience in climate-vulnerable economies.
He added that public-private partnerships and capital markets were playing a growing role in financing development, citing a $3.6 billion syndicated financing for a major copper mining project expected to generate $2.8 billion in annual exports from 2028.
The finance minister is part of Pakistan’s delegation visiting Davos for the annual gathering of global leaders and investors.
The delegation is led by Prime Minister Shehbaz Sharif, who highlighted the country’s shift toward an export-driven growth model, with a focus on minerals, information technology, artificial intelligence and digital services, while speaking at a breakfast event on the sidelines of the forum.
