Indian army reports ‘first calm night’ after Kashmir truce with Pakistan holds

Debris of a scooter damaged by a cross-border shelling lies on a road in Poonch near the Line of Control (LoC) between India and Pakistan, May 8, 2025. (Reuters)
Short Url
Updated 12 May 2025
Follow

Indian army reports ‘first calm night’ after Kashmir truce with Pakistan holds

  • India, Pakistan agreed to a ceasefire on Saturday after worst fighting between neighbors in decades
  • Both sides accused each other of violating ceasefire hours after it was announced by US President Trump

POONCH, India: The frontier between arch-foes India and Pakistan was peaceful and had the “first calm night in recent days,” the Indian army said Monday, after a surprise weekend ceasefire.

The truce was agreed to on Saturday after four days of missile, drone and artillery attacks between the two countries which killed at least 60 people and sent thousands fleeing.

It was the worst violence since the nuclear-armed rivals’ last open conflict in 1999 and sent global shudders that it could spiral into full-blown war.

There were initial doubts as the two sides accused each other of breaching the ceasefire just hours after it was unexpectedly announced by US President Donald Trump on social media.

“The night remained largely peaceful across... Kashmir and other areas along the international border,” the Indian army said.

“No incidents have been reported, marking the first calm night in recent days,” the statement added.

It was also the second straight night without gunfire or shelling at Poonch, the frontier town in the part of divided Kashmir administered by India.

Poonch was one of the worst-hit regions in the latest conflict, with at least 12 residents killed and most of the estimated 60,000 residents fleeing their homes.

On Sunday, people started trickling back to the town, although many still remained worried that the ceasefire would not last.

The alarming spiral toward all-out conflict began before dawn on Wednesday, when India launched missile attacks destroying what it called “terrorist camps” in the Pakistani part of Kashmir.

This followed an April 22 attack on tourists in Indian-administered Kashmir, which killed 26 civilians.

India accused Pakistan of backing the attack but Islamabad denied involvement and immediately responded to the strikes with heavy artillery fire.

It claimed to have downed five Indian fighter jets — something New Delhi has not commented on.

Militants have stepped up operations in Kashmir since 2019, when Indian Prime Minister Narendra Modi’s Hindu nationalist government revoked the region’s limited autonomy and took it under direct rule from New Delhi.

Divided Muslim-majority Kashmir is claimed in full by both countries, who have fought several wars over the territory since their independence from Britain in 1947.
 


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

Updated 29 January 2026
Follow

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.