Pakistani Finance Minister Muhammad Umar Khan Orangzeb has met with senior officials from the Japan International Cooperation Agency (JICA) and the Asian Infrastructure Investment Bank (AIIB) to discuss development cooperation, infrastructure financing, and mutually beneficial partnerships.
During the meetings, the Finance Minister focused on detailed discussions regarding the revival of debt-related activities with JICA, the inclusion of a water supply project in Faisalabad under the loan program, and the progress in the grants program. He mentioned that despite the previous challenges, significant progress has been made in the grants program, and a substantial number of hurdles have been overcome.
Orangzeb also highlighted that Pakistan still receives negative net inflows from JICA, which will be converted into a positive balance with the revival of debt-related activities. In a meeting with the President of AIIB, the Finance Minister emphasized the importance of promoting infrastructure financing and congratulated him on taking office. He stated that the issuance of Euro bonds four years ago reflected a vote of confidence in Pakistan’s economic progress, and the introduction of Panda bonds marked a significant milestone.
The Finance Minister also announced that, under the directives of the Prime Minister, four special committees have been established to expedite the implementation of projects, focusing on land acquisition, funding, and procurement system improvement. He assured that the government will continue to take measures to accelerate the implementation of development projects and address obstacles.
In other news, the Chairman of the Central Ruet-e-Hilal Committee, Maulana Syed Muhammad Abdul Khabeer Azad, has announced the sighting of the moon for the month of Dhul Qadah. The Federal Investigation Agency (FIA) has arrested a suspect involved in money laundering worth over 74 billion rupees. A brave worker, Abdul Wahab, has refused to give up, despite the constant threat of darkness, hunger, and death, and has continued to live under the trash.
MQM Pakistan leader Mustafa Kamal has welcomed the decision of the Election Commission to grant a six-week extension for the party’s intra-party elections. The spokesperson of the State Bank of Pakistan has stated that the amount in question was a safe deposit in Pakistan’s account. The police have registered a case against the accused, who had allegedly committed dacoity at a house in the Shoukat Hussain Office (SHO) Mandi area and was involved in multiple cases of firing on the police.
High-ranking government sources have denied reports that the second round of talks between the US and Iran will not take place in Islamabad on Monday. The Islamabad High Court has lifted the stay on the notice of tax recovery from the Agricultural Development Bank, worth billions of rupees. Babar Yousaf Zai has stated that the terrorists are distorting the positive image of Balochistan, adding that the Indian subcontinent is involved in terrorism. The Director General of Hajj, Abdul Wahab Somro, and the Director of Medina, Zaheer Saeed, have welcomed the pilgrims, as have the Coordinator of Medina, Kashif Hussain, and the Director of Makkah, Arif Aslam Rau. The police have registered a case against the accused, who had allegedly used vehicles for drifting and had fired on the police.
According to sources, the government has reduced the price of jet fuel for commercial aircraft by 23 rupees per liter, bringing the price down to 471 rupees per liter. The Seismology Survey has stated that the epicenter of the earthquake was 24 kilometers north-west of the Malir area in Karachi. Sources close to Adiala Jail have stated that the medical team included Dr. Arif Khan and Professor Nadeem Qureshi. Iran will respond officially to the US suggestions, and the Supreme National Security Council.
