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Pakistan PM calls for global cooperation for sustainable water management at Riyadh forum

Pakistan PM calls for global cooperation for sustainable water management at Riyadh forum
This screengrab, taken from a live stream of One Planet Summit, shows Pakistan鈥檚 Prime Minister Shehbaz Sharif addressing the One Water Summit in Riyadh, 黑料社区, on December 3, 2024. (Screengrab/YouTube@OnePlanetSummit)
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Updated 03 December 2024

Pakistan PM calls for global cooperation for sustainable water management at Riyadh forum

Pakistan PM calls for global cooperation for sustainable water management at Riyadh forum
  • The One Water Summit, a joint initiative of 黑料社区, France, Kazakhstan and World Bank, aims to stimulate global partnerships for water resource management
  • PM Shehbaz Sharif says it is their duty as leaders to ensure that water resources that have nourished civilizations for centuries must not be reduced to tales of past

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday called for transfer of technology, financing and international cooperation to ensure sustainable management of water for all as he addressed the One Water Summit in Riyadh, 黑料社区.
The summit, a joint initiative of 黑料社区, France, Kazakhstan and the World Bank, aimed for high-level political commitments to promote global cooperation and a coherent international approach toward water resource management.
Addressing the summit, Sharif said water was lifeblood of the planet, which transcended political boundaries, connected nations and fostered shared ecosystem, which was why his country attached great importance to transboundary cooperation.
鈥淎t the global level, I would submit for your kind consideration a number of steps to overcome water-related challenges. First, we need international cooperation and collaboration to ensure availability, sustainable management of water and sanitation for all,鈥 he told attendees at the summit.
鈥淪econd, exchange of knowledge and expertise as well as transfer of technologies on innovative water management must be prioritized. Third, adequate funding for climate-resilient infrastructure and overcoming financing gap remains critical for climate-vulnerable countries.鈥
He appreciated the Kingdom of 黑料社区, France, Kazakhstan and the World Bank for the initiative, saying the world required 鈥渟trong political will and global leadership to overcome the water crisis.鈥
鈥淲e must also focus on framework for transparency, data-sharing and regional cooperation to avoid conflicts and promote water-sharing,鈥 the Pakistan premier said.
鈥淲e must invest in skills development, research and institutional strengthening to tackle water challenges at national and global levels.鈥
Sharif detailed steps taken by his government to ensure water security and climate-resilience, saying Pakistan was proud of joining this initiative and looked forward to providing all possible support in achieving its goals.
鈥淎s leaders, policymakers and custodians of the future, it is our duty to ensure that these rivers, lakes and aquifers that have nourished civilizations for centuries must not be reduced to tales of the past,鈥 he added.
The One Water Summit is being held on Dec. 3-4 on the margins of the next high-level session of the COP16 of the United Nations Convention to Combat Desertification (UNCCD). It aims to contribute to ongoing United Nations discussions and processes to enhance global water governance, accelerate action on SDG6 on water and sanitation, and build on the momentum of the UN Water Conference in 2023.
The summit aims to scale up projects by stimulating partnerships between states, international organizations, local authorities, development and private banks, businesses, philanthropies, scientific experts, NGOs and civil society, in line with previous One Planet Summits, according to the forum鈥檚 website.
The forum will also act as an incubator for solutions in preparation for the next UN Water Conference in 2026, and integrate its agenda into the other existing water processes and initiatives such as the World Water Forum, the Dushanbe Conference and the World Water Week.


IMF, Pakistan kick off discussions as lender reviews $8.4 billion loan programs聽

IMF, Pakistan kick off discussions as lender reviews $8.4 billion loan programs聽
Updated 12 sec ago

IMF, Pakistan kick off discussions as lender reviews $8.4 billion loan programs聽

IMF, Pakistan kick off discussions as lender reviews $8.4 billion loan programs聽
  • IMF mission arrived in Pakistan last week to hold separate reviews of $7 billion and $1.4 billion loan programs聽
  • Discussions take place as Pakistan eyes concessions in program targets from IMF following devastating floods聽

KARACHI: A visiting International Monetary Fund (IMF) mission kicked off talks with Pakistani officials on Monday as it holds the second review of its $7 billion External Fund Facility (EFF) and first review of the $1.4 billion Resilience and Sustainability Facility (RSF) loan programs for the country, the lender confirmed. 

The IMF mission arrived in Pakistan on Sept. 25 to conduct the reviews. The global lender approved a $7 billion bailout package for Pakistan under its EFF program in September 2024 while in May, it approved a separate $1.4 billion loan for Pakistan as a climate resilience fund. The RSF will support Pakistan鈥檚 efforts in building economic resilience to climate vulnerabilities and natural disasters. 

鈥淔ederal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chairing the kick-off meeting with the visiting IMF Review Mission at the Finance Division today,鈥 the IMF said in a statement, sharing pictures of the meeting between the two sides. 

The discussion takes place as Pakistan seeks concessions in its program targets following devastating floods that killed over 130 in its eastern Punjab province since late August, impacted over 4.5 million people and destroyed large swathes of crops. The devastation has spiked food prices in many parts of the country, with experts warning of food shortages due to supply chain disruptions. 

Prime Minister Shehbaz Sharif met the fund鈥檚 Managing Director Kristalina Georgieva in New York last week on the sidelines of the ongoing United Nations鈥 General Assembly session. During the meeting, Sharif spoke about Pakistan鈥檚 progress in fulfilling the IMF program targets but also demanded that the impact of recent floods on Pakistan鈥檚 economy 鈥渕ust be factored into the IMF鈥檚 review,鈥

Islamabad has so far received more than $2 billion under the EFF and is expecting a third tranche of $1 billion after the second review concludes successfully.

IMF鈥檚 bailout packages have proven instrumental in keeping Pakistan鈥檚 fragile $350 billion economy afloat, as the country grapples with tough economic conditions that have triggered a balance of payments crisis and weakened its national currency. 

Pakistan has undertaken painful measures in the past, such as removing subsidies that have resulted in higher food and fuel prices, spiking inflation in the country. Pakistani financial experts told Arab News last week they expected the global lender to grant Islamabad concessions as far as its program targets were concerned, in light of the damages inflicted by the recent floods. 

 鈥淲e are expecting Pakistan to get a little breather due to the floods,鈥 economist Sana Tawfik said last week, adding that Islamabad would comfortably meet the international lender鈥檚 targets. 

Shankar Talreja, head of research at brokerage firm Topline Securities Ltd., said the current review will focus on continuing the IMF鈥檚 reforms under revised parameters due to the floods. He said the government is expected to keep pushing for privatization of state-owned enterprises and clearing its old backlog of circular debt.
 
鈥淭he concessions are likely in form of some downward revisions in FBR (Federal Board of Revenue) tax revenue, upward revision in fiscal balance over relief spending and there might a downward adjustment in GDP growth target as well,鈥 Talreja said. 


Pakistan thanks 黑料社区, UAE, Jordan for supporting its stance on Palestine聽

Pakistan thanks 黑料社区, UAE, Jordan for supporting its stance on Palestine聽
Updated 29 September 2025

Pakistan thanks 黑料社区, UAE, Jordan for supporting its stance on Palestine聽

Pakistan thanks 黑料社区, UAE, Jordan for supporting its stance on Palestine聽
  • Pakistan PM Shehbaz Sharif recently called for an immediate ceasefire in Gaza at the UN General Assembly
  • Deputy PM Ishaq Dar says Pakistan heading toward 鈥済enuine鈥 economic improvement, poverty alleviation

ISLAMABAD: Deputy Prime Minister Ishaq Dar has thanked 黑料社区, Jordan, the UAE, Indonesia and Egypt for supporting Pakistan鈥檚 stance on the Palestine issue at various international forums, state-run media reported on Sunday, crediting PM Shehbaz Sharif with 鈥渆ffectively鈥 raising the issue at global platforms last week. 

Sharif led the Pakistan delegation at the United Nations last week, during which he addressed the UN General Assembly. The Pakistani prime minister called for an immediate ceasefire in Gaza, describing Israel鈥檚 actions in the Middle East as 鈥渞ogue behavior鈥 and called for granting Palestinians access to food and lifesaving medicines in Gaza. The Pakistani prime minister was also part of a multilateral meeting of Muslim leaders from 黑料社区, UAE, Turkiye, Indonesia and others with US President Donald Trump at the UNGA鈥檚 sidelines. The leaders discussed Israel鈥檚 war on Gaza, which has cost over 66,000 Palestinians their lives, and called for a cessation of hostilities. 

Speaking to reporters in London, Dar said Prime Minister Shehbaz Sharif has effectively raised the issues of the disputed Kashmir and Palestine territories at international forums.
鈥淗e thanked 黑料社区, UAE, Egypt, Jordan, and Indonesia for supporting Pakistan鈥檚 stance on Palestine,鈥 state broadcaster Radio Pakistan reported. 
Dar also spoke about Pakistan鈥檚 economy, saying it is 鈥渙n the path to recovery鈥 marked by growing international confidence and a surge in 鈥渇resh investments.鈥
Earlier this month, American firm US Strategic Metals (USSM) and Pakistan鈥檚 Frontier Works Organization signed an agreement to deepen cooperation in the critical minerals sector. As per the deal, the US firm would invest $500 million in Pakistan鈥檚 critical minerals sector. 
Dar said the investment deal with USSM is 鈥渃lear evidence鈥 of Pakistan鈥檚 renewed economic engagement, adding that the country was heading toward genuine economic improvement and poverty alleviation. 
鈥淗e said the country is now moving toward genuine economic improvement and poverty alleviation,鈥 the state broadcaster said
Pakistan has been suffering from a prolonged economic crisis that brought the country to the brink of a sovereign default in 2023 before a last-gasp bailout package from the International Monetary Fund (IMF) helped avert it. Since then, Pakistan has undertaken painful financial reforms mandated by the IMF to reform its economy. 
Pakistan also formed the Special Investment Facilitation Council (SIFC) in June 2023 to fast-track decisions related to international investment in its priority sectors of minerals, livestock, agriculture, tourism, IT and others. 


Pakistan dedicate Asia Cup final match fees to 鈥榠nnocent victims鈥 of India鈥檚 May 7 attack

Pakistan dedicate Asia Cup final match fees to 鈥榠nnocent victims鈥 of India鈥檚 May 7 attack
Updated 29 September 2025

Pakistan dedicate Asia Cup final match fees to 鈥榠nnocent victims鈥 of India鈥檚 May 7 attack

Pakistan dedicate Asia Cup final match fees to 鈥榠nnocent victims鈥 of India鈥檚 May 7 attack
  • India launched missiles on multiple sites across Pakistan on May 7, claiming to hit militant targets which Islamabad said was false
  • Controversy ensued after India beat Pakistan in Asia Cup final and refused to accept trophy from ACC President Mohsin Naqvi聽

ISLAMABAD: The Pakistan cricket team has decided to dedicate its Asia Cup final match fees to the 鈥渋nnocent victims鈥 of the May 7 attack launched by India, the Pakistan Cricket Board (PCB) said on Monday, as political tensions continued to dominate the tournament even after it concluded. 

India beat arch-rivals Pakistan by five wickets in the thrilling Asia Cup final on Sunday night. However, controversy ensued after the Indian cricket team refused to accept the trophy from Asian Cricket Council (ACC) President Mohsin Naqvi, who is also the PCB chairman and Pakistan鈥檚 interior minister. Indian captain Suryakumar Yadav said at the post-match press conference that India were 鈥渄enied鈥 the trophy while Pakistan skipper Salman Ali Agha said India had 鈥渄isrespected鈥 cricket by their actions.

Tensions dominated the Asia Cup tournament right from its onset, which saw the two arch-rivals meet on the cricket field for the first time after their militaries engaged in a brief confrontation in May this year. Over 70 people were killed on both sides of the border after the two countries targeted each other with fighter jets, artillery fire, drones and missiles. The confrontation began on May 7 after India launched missile and air strikes on multiple sites across Pakistan and Pakistan-administered Kashmir, saying it had targeted militants. Pakistan denied the allegations, saying only innocent civilians were killed and claimed it shot down six Indian jets in response the same night. 

鈥淭he Pakistan Cricket Team has dedicated its Asia Cup final match fees to the innocent victims martyred in the May 7 attack, in which civilians, including children, lost their lives,鈥 the PCB wrote on social media platform X. 鈥淥ur thoughts and prayers are with their families.鈥

India鈥檚 stance to not accept the Asia Cup trophy from Naqvi was expected well in advance. Indian cricketers had refused to shake hands with Pakistan in any of the three games they played this tournament, either at the toss between the captains or after the matches. 

Pakistan coach Mike Hesson and Agha both criticized India for it but India did not change its position. Things became heated, especially during the second game in the Super Four stage of the cup between the two teams, with several verbal spats between the sides. Yadav was fined for remarks he made following the first game while Pakistan pacer Haris Rauf for his actions in the second.

BCCI secretary Devajit Saikia told Indian news agency ANI that the team had decided not to accept the trophy from Naqvi as he was 鈥渙ne of the main leaders from Pakistan.鈥

鈥淏ut that does not mean that the gentleman will take away the trophy with him, along with the medals,鈥 the BCCI official said on Sunday, according to ESPNcricinfo. 鈥淪o it is very unfortunate and we hope that the trophy and the medals will be returned to India as soon as possible.鈥

Saikia said the BCCI will lodge 鈥渁 very serious and very strong protest鈥 at the next ICC conference in Dubai against Naqvi鈥檚 actions. 


India, Pakistan trade accusations after Asia Cup trophy debacle

India, Pakistan trade accusations after Asia Cup trophy debacle
Updated 29 September 2025

India, Pakistan trade accusations after Asia Cup trophy debacle

India, Pakistan trade accusations after Asia Cup trophy debacle
  • Indian players did not attend victory ceremony after refusing to accept trophy from Mohsin Naqvi, Asian Cricket Council president
  • Pakistan鈥檚 Salman Ali Agha alleges India 鈥渄isrespected cricket,鈥 while Indian skipper Yadav complained his side were 鈥渄enied鈥 trophy

DUBAI: Pakistan captain Salman Agha said India had 鈥渄isrespected cricket鈥 while Indian counterpart Suryakumar Yadav complained his side 鈥渨ere denied the trophy鈥 after winning a fraught Asia Cup.

The two teams did not shake hands for the third Asia Cup match running as India won the final by five wickets in Dubai on Sunday.

Suryakumar鈥檚 side did not attend the victory ceremony after refusing to accept the trophy from Mohsin Naqvi, the president of the Asian Cricket Council (ACC), who is also chairman of the Pakistan Cricket Board and Pakistan interior minister.

Suryakumar told reporters: 鈥淚 think this is one thing which I have never seen since I started playing cricket that the champion team is denied the trophy.

鈥淲e took the call on the ground about not taking the trophy.鈥

The regional Twenty20 tournament was the first time the Asian cricket giants had met since deadly fighting between the nuclear-armed neighbors earlier this year.

Tensions had been running high after the two previous matches in the competition saw political posturing and aggressive on-field behavior.

鈥淚f you tell me about the trophies, my trophies are sitting in my dressing room 鈥 all the 14 players and support staff. They are the real trophies for me,鈥 said Suryakumar.

鈥淚t appeared on the big screen that India is Asia Cup 2025 champion. It was a great journey and moment for us as a team.鈥

The presentation ceremony was delayed for an hour before announcer Simon Doull said: 鈥淚 have been informed by the ACC that the Indian cricket team will not be collecting their awards tonight. So that does conclude the post-match presentation.鈥

Pakistan鈥檚 Agha said India鈥檚 actions during the tournament had been 鈥渂ad for cricket.鈥

鈥淚 think what has happened in this tournament is very disappointing,鈥 Agha told reporters.

鈥淚f they think they disrespected us by not shaking hands, then I say they disrespected cricket.

鈥淲hat they did today, a good team doesn鈥檛 do that. Good teams do what we have done. We waited for our medals and took them.

鈥淚t鈥檚 been seen for the first time. I do not know where it will stop. What has happened in this tournament is bad for cricket.鈥


Pakistan may import about 7 million cotton bales after floods damage crop, stakeholders say

Pakistan may import about 7 million cotton bales after floods damage crop, stakeholders say
Updated 29 September 2025

Pakistan may import about 7 million cotton bales after floods damage crop, stakeholders say

Pakistan may import about 7 million cotton bales after floods damage crop, stakeholders say
  • Monsoon rains, floods have damaged 223,785 acres of cotton crop in Pakistan鈥檚 Punjab, Sindh and Khyber Pakhtunkhwa provinces
  • Analysts say the import of cotton will put pressure on foreign exchange reserves which have stagnated at $14 billion for last three months

Karachi: Pakistan is expected to import as much as 7 million bales of cotton this year as devastating floods have washed away hundreds of thousands of acres crops in the South Asian nation, the Karachi Cotton Brokers Forum (KCBF) and other stakeholders said on Sunday.

Pakistan ranks among one of most vulnerable countries to climate change, where recent flash floods have killed more than 1,000 people and inundated major crops like cotton, sugarcane, rice, maize and wheat storages, risking the government鈥檚 4.2 percent economic growth target this fiscal year.

The deluges have damaged approximately 2.5 million acres of all crops that is equivalent to 7.7 percent of Pakistan鈥檚 total cultivated area, KCBF Chairman Naseem Usman said, citing a recent presentation of the food security ministry to a parliamentary committee.

The authorities have started assessing the total flood damages as a technical team from the International Monetary Fund (IMF) is visiting Pakistan to review the government鈥檚 performance under its $7 billion loan program and $1.4 billion climate resilience facility.

鈥淧akistan has already booked about 2 million bales of cotton in advance trade,鈥 Usman told Arab News. 鈥淚t would have to import five million more bales by the end of this year.鈥

The KCBF chairman expects Pakistan鈥檚 cotton production to range from 6.5 million to 7 million bales due to rain and flood-related damages.

鈥淥ur consumption is almost double of what we produce,鈥 Usman said.

He said the initial damage to cotton in Punjab, Sindh and Khyber Pakhtunkhwa provinces was assessed at 223,785 acres. This is around 4 percent of the total cotton crop Pakistan has sown over 5.58 million acres this 2025-26 season, according to the Pakistan Central Cotton Committee.

But officials at the national food security ministry say these numbers are not final.

鈥淥fficials from concerned provincial ministries and other institutions would meet again and try to build consensus on flood damages data,鈥 a national food security ministry official, who requested anonymity, told Arab News, adding the data gathered so far from various sources had 鈥渂ig gaps.鈥

Kamran Arshad, chairman of the All Pakistan Textile Mills Association (APTMA), said the millers would require 12 million bales of cotton this year but it would be too early to cite a number for the amount of cotton they would need to import.

鈥淭here is a damage to the cotton crop for sure,鈥 Arshad told Arab News. 鈥淲e will have a better estimate by end October or early November.鈥

Shankar Talreja, head of research at Karachi-based Topline Securities brokerage and market research firm, said the country will need to import more than 6 million cotton bales to supply raw material to its textile industry, which earned $18 billion in the last fiscal year that ended in June.

鈥淧akistan needs annually over 13-14 million bales and over 30 percent of this would be imported,鈥 the economist told Arab News.

This, he said, will put pressure on Pakistan鈥檚 foreign exchange reserves which, according to the State Bank of Pakistan, have stagnated at $14 billion for the last three months since June 26.

In a separate report, Topline Securities increased its growth forecast for Pakistan鈥檚 imports to 10 percent from its earlier estimates of 9 percent, especially non-oil imports, which are expected to grow 16 percent this fiscal year. It said Pakistan鈥檚 current account deficit would remain largely unchanged at 0-0.5 percent of GDP.

鈥淗owever, we expect the [current account] number to reach at top side of our previous expected range,鈥 the report said.