PM Shehbaz hails World Bank position on IWT
Tensions between India and Pakistan escalated after the April 22 attack in Pahalgam, Indian Illegally Occupied Jammu and Kashmir (IIOJK), which killed 26 people. India blamed Pakistan for the attack but provided no evidence. Islamabad strongly denied the allegations.
On April 23, India closed the Wagah border crossing, revoked Pakistani visas, and announced the suspension of the Indus Waters Treaty. Pakistan condemned the move as an 'act of war' and responded by sealing the Wagah border from its side.
In a meeting with Ousmane Dione, World Bank Regional Vice President for the Middle East, North Africa, Afghanistan, and Pakistan, Shehbaz reiterated Pakistan's commitment to upholding international law, pursuing peaceful dialogue, and promoting regional prosperity.
Regional Vice President of the World Bank Ousmane Dione called on Prime Minister Muhammad Shehbaz Sharif. pic.twitter.com/D3o0rau94e — Government of Pakistan (@GovtofPakistan) July 24, 2025
The prime minister expressed appreciation for the World Bank's longstanding partnership and described its backing as aligned with Pakistan's lawful stance on water rights under the treaty.
Shehbaz also acknowledged the strategic role of the Country Partnership Framework in supporting Pakistan's national priorities, particularly in the areas of energy, climate change, human development, and governance reform.
Read: World Bank approves $194m for education, water security in Balochistan
He thanked the Bank for its timely assistance during the 2022 floods, which enabled Pakistan to launch emergency relief and rehabilitation efforts for affected communities.
Dione reaffirmed the World Bank's commitment to expanding collaboration with Pakistan and lauded the government's reform agenda aimed at ensuring macroeconomic stability and long-term sustainability.
Both sides expressed a shared resolve to deepen cooperation in the coming years to accelerate development and improve livelihoods.
Earlier, the World Bank reaffirmed its support for Pakistan's economic stability during a separate meeting held on Wednesday between Federal Minister for Economic Affairs Ahad Cheema and Ousmane Dione at the Ministry of Economic Affairs in Islamabad.
According to an official statement from the Ministry of Economic Affairs, the Bank appreciated Pakistan's reform efforts and progress under the Country Partnership Framework.
Both sides discussed avenues for deepening cooperation in critical sectors, with an emphasis on ensuring sustained recovery and long-term financial resilience.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
5 hours ago
- Business Recorder
Pakistan ready for composite dialogue with India, says DPM Dar
Deputy Prime Minister and Foreign Minister Ishaq Dar has said Pakistan is ready for dialogue with India, adding that Pakistan seeks a composite dialogue that includes Kashmir as well as other issues, including the Indus Waters Treaty (IWT), APP reported. Addressing a news conference in New York, Dar emphasised the dialogue will not be limited to the issue of terrorism alone. He reiterated Pakistan has been the biggest victim of terrorism and noted that the US Secretary of State Marco Rubio, in a meeting with him, acknowledged Pakistan's sacrifices in the fight against terrorism. The foreign minister said, during this bilateral meeting, the longstanding Jammu and Kashmir dispute was also raised, emphasising that 'permanent peace is not possible in the region without resolution of this dispute'. He recalled that the US President Donald Trump had also raised the Kashmir issue multiple times. As regards to the IWT, Dar said Pakistan's stance is very clear. He said the IWT is binding and no single party can terminate or amend it. He firmly stated that any attempt to divert or block Pakistan's share of water would be unacceptable. India's defence minister rejects Trump's ceasefire claim India suspended the treaty on April 23, 2025; one day after the Pahalgam incident in Indian Illegally Occupied Jammu and Kashmir, blaming Pakistan for the attack without any evidence. Pakistan firmly denied any involvement in the attack. Pakistan has repeatedly shared its stance that if India blocks Pakistan's strategic waters, it will be considered an act of war, since millions depend on these waters for agriculture and hence food security is directly linked with uninterrupted water flow. In a move that directly clashes with international norms, and IWT's own clauses, India pulled out of treaty unilaterally, a move that is being acknowledge worldwide as politically motivated. The treaty was signed in 1960 and the World Bank is a facilitator, often dubbed a protector, whenever any disagreement occurs on this water-sharing deal. Responding to a question, the deputy prime minister made it clear that Pakistan has no plan to recognise Israel. He demanded immediate ceasefire in Gaza and delivery of humanitarian assistance to the Palestinian people. He reaffirmed Pakistan's unwavering support for the establishment of a sovereign and independent Palestinian state with Al-Quds Al Sharif as its capital. Describing his US visit as successful, FM Dar said Pakistan has also raised voice for reforms in the UN Security Council emphasising that the Organisation of Islamic Cooperation (OIC) should be given due representation in the world body. On relations with the neighbouring Muslim countries, Dar highlighted Pakistan's outreach to Afghanistan, with a view to enhancing regional connectivity through rail and trade corridors to Central Asia. Pakistan's relations with Iran have also greatly improved, he said. 'I am fully satisfied with the role Pakistan played in enhancing its relations With Iran,' the foreign minister added.
Express Tribune
5 hours ago
- Express Tribune
Pakistan ready for composite dialogue with India, says Dar
Listen to article In another overture of peace, Pakistan on Tuesday once again extended the olive branch to arch-rival India and has offered composite dialogue with New Delhi to settle outstanding issues between the two nuclear-armed neighbours. The latest offer was extended by Foreign Minister Ishaq Dar. Addressing a news conference in New York, he stated that the dialogue would not be limited to terrorism, stressing that Pakistan has been one of the biggest victims of terrorism. Dar also noted that US Secretary of State Marco Rubio acknowledged Pakistan's sacrifices in the war against terrorism during a recent meeting. The deputy prime minister further elaborated that during the bilateral meeting with Rubio, the longstanding Jammu and Kashmir dispute was also discussed. He underscored that permanent peace in the region is not possible without a resolution of the Kashmir issue, recalling that US President Donald Trump had raised the matter multiple times. Speaking on the Indus Waters Treaty, the foreign minister said Islamabad's stance is clear: the treaty is binding, and no single party can unilaterally terminate or amend it. He reiterated earlier warnings by the country's leadership that any attempt to divert or block Pakistan's share of water would be unacceptable. Responding to another question, Dar stated that Pakistan has no plans to recognise Israel. He called for an immediate ceasefire in Gaza and the delivery of humanitarian aid to the Palestinian people. He also reaffirmed Pakistan's unwavering support for the establishment of an independent and sovereign Palestinian state, with Al-Quds Al-Sharif as its capital. Dar described his visit to the United States as successful, noting that Pakistan raised its voice for reforms in the United Nations Security Council and stressed that the Organisation of Islamic Cooperation (OIC) should be granted due representation in the global body. The recent conflict between Pakistan and India marked a major military escalation between the two nuclear powers. Tension between Pakistan and India increased after the April 22 Pahalgam attack in Indian Illegally Occupied Jammu and Kashmir (IIOJK), which killed 26 tourists. New Delhi immediately blamed Islamabad without providing any evidence. It also took a raft of major diplomatic measures to downgrade its ties with Pakistan. Read: India hardens position on Pahalgam attack Islamabad denied the allegations and offered an impartial probe into the incident. On the night of May 7, the Indian Air Force launched an unprovoked attack on civilian targets in Pakistan. The Pakistan Air Force (PAF) immediately retaliated and shot down at least six IAF jets, including three French-built Rafales. Read more: Decoding defeat: Five times Indian military officials admitted losses against Pakistan Escalating further, on the night of 9–10 May, India launched another round of strikes against Pakistan, but this time targeted military sites and airbases. In retaliation, Pakistan launched Operation Bunyanum Marsoos, striking back at Indian military installations, including missile storage sites, airbases and other strategic targets. The early morning strikes came as a shock for the Indian military leadership, who had underestimated Pakistan's response to their unprovoked attacks. As the conflict spiralled, US President Donald Trump announced on May 10 that a ceasefire had been reached following intense diplomatic efforts overnight. The two sides gradually reduced troop numbers from the international border in the following weeks. A tense calm prevails between the two countries, with India continuing to issue beligerent statements.
Business Recorder
7 hours ago
- Business Recorder
Highnoon Labs partners with Bangladesh's Beximco to target high-burden diseases in Pakistan
Highnoon Laboratories Limited (HINOON), a Pakistani pharmaceutical company, has announced a strategic partnership with Beximco Pharmaceuticals Limited, a leading Bangladesh-based drug manufacturer, to collaborate on the distribution and marketing of specialised pharmaceutical products in Pakistan. The listed pharmaceutical disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. 'The company has entered into a strategic partnership with Beximco Pharmaceuticals Limited, a leading Bangladesh-based pharmaceutical company having state-of-the-art manufacturing facilities, accredited by the regulatory authorities of the USA, Australia, the European Union, Canada, and Brazil,' read the notice. HINOON shared that a memorandum of understanding (MoU) has been inked between the two companies to collaborate for the distribution and marketing of specialised pharmaceutical products in Pakistan, with the focus on high-burden therapeutic areas including respiratory, diabetes, and cardiovascular diseases. Bangladesh firm opens outlet in Karachi 'Through this partnership, the company will bring newer therapies, dosage forms and delivery systems for the ease of use and better clinical results for patients and improve access to the advanced medications. This strategic alliance will make a significant contribution to the recent expansion of trade relations and economic cooperation between Pakistan and Bangladesh,' read the notice. Beximco Pharmaceuticals Ltd. is an emerging generic drug player committed to providing access to affordable medicines. It currently focuses on building presence in many emerging and developed markets around the world. Meanwhile, Highnoon Laboratories Limited was incorporated in Pakistan as a private limited company in 1984 and was converted into a public limited company in 1995. The principal activity of the company is the manufacturing, import, sale and marketing of pharmaceutical and allied consumer products.
