Latest news with #Shehbaz
Express Tribune
5 hours ago
- Business
- Express Tribune
PM Shehbaz hails World Bank position on IWT
Prime Minister Shehbaz Sharif on Thursday praised the World Bank for its support of Pakistan's position on the Indus Waters Treaty, criticising India's 'unilateral and illegal' actions that he said undermine the landmark agreement. 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. — 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.
Business Recorder
8 hours ago
- Business
- Business Recorder
PM Shehbaz lauds World Bank's support on Indus Waters Treaty dispute
Prime Minister Shehbaz Sharif on Thursday lauded the World Bank's principled support for Pakistan's stance on the Indus Waters Treaty, reiterating Islamabad's commitment to upholding international law and resolving regional issues through dialogue. PM Shehbaz remarks came during a meeting with Ousmane Dione, World Bank Regional Vice President for the Middle East, North Africa, Afghanistan, and Pakistan (MENAAP), in Islamabad, where both sides discussed bilateral cooperation and reaffirmed their commitment to Pakistan's long-term development goals, read a statement released by the Prime Minister's Office (PMO). 'PM Shehbaz appreciated the World Bank's principled support for Pakistan's legitimate position in light of India's unilateral and illegal actions to undermine important international agreements like the Indus Waters Treaty,' read the statement. The prime minister expressed his sincere gratitude to the World Bank for its long-standing partnership with Pakistan. World Bank urges Pakistan to expedite $55mn power efficiency project 'He particularly thanked World Bank's President, Ajay Banga and former World Bank Country Director for Pakistan, Najy Benhassine, for their key role in advancing the new Country Partnership Framework (CPF) for Pakistan,' read the statement. The prime minister appreciated the strategic role of the CPF in Pakistan's development priorities, especially in the areas of energy, human resources, climate change and governance reforms. The Prime Minister thanked the World Bank for its assistance during the devastating floods of 2022, which helped Pakistan to launch immediate relief activities and initiate reconstruction and rehabilitation measures. Meanwhile, Ousmane Dione thanked PM Shehbaz Sharif for the warm hospitality extended to him during his visit to Pakistan. He reiterated the World Bank's commitment to further deepen and broaden Pakistan's long-standing partnership and cooperation in key sectors of the economy. As per the PMO's statement, Dion commended Pakistan's ongoing macroeconomic recovery and commended the government for leading the country towards fiscal stability and sustainable growth. The World Bank official particularly praised the reform agenda of the current administration, describing the strong leadership of PM Shehbaz as crucial in advancing institutional reforms, restoring investor confidence, and promoting inclusive economic growth.
Express Tribune
a day ago
- Business
- Express Tribune
PM calls for 'meaningful dialogue' with India to ease tensions in talks with British envoy
Listen to article Prime Minister Shehbaz Sharif on Wednesday reiterated Pakistan's willingness to engage in a 'meaningful dialogue' with India on all outstanding issues, calling for diplomacy to address long-standing regional tensions, Radio Pakistan reported. In a meeting with British High Commissioner Jane Marriott, who called on the premier in Islamabad on Wednesday, he stressed the importance of resolving disputes through peaceful means and reiterated that Pakistan remained committed to constructive engagement with its neighbours. PM Shehbaz expressed satisfaction over the positive trajectory of Pakistan-UK relations and said the recent trade talks between the two countries were expected to yield mutually beneficial opportunities while noting that Pakistan and the UK were cooperating closely at the United Nations Security Council, where Pakistan currently holds the monthly presidency. The prime minister also welcomed the UK government's recent decision to resume Pakistan International Airlines (PIA) flights to and from the UK, saying that the move would ease travel difficulties for the British Pakistani community and promote greater people-to-people exchanges. He also appreciated the high commissioner's role in facilitating the decision. Also Read: PIA plans UK flights from Aug 14 He conveyed his warm regards to King Charles III and newly elected UK Prime Minister Keir Starmer, adding that he looked forward to meeting the British leadership later this year. Marriott, in turn, thanked the prime minister for the meeting and briefed him on her recent visit to London, during which she held consultations on advancing bilateral cooperation. She commended the Pakistani government's economic performance over the past year and a half under the leadership of PM Shehbaz, highlighting improvements in key macroeconomic indicators. The high commissioner also shared the UK's perspectives on regional issues. Tensions between Pakistan and India deteriorated following the Pahalgam incident in Indian Illegally Occupied Jammu and Kashmir (IIOJK) in April, which claimed the lives of 26 people. New Delhi hastily blamed Islamabad for the attack, despite failing to provide any evidence. Over a span of four days in May, fighter jets, missiles, drones, and artillery were deployed in fierce clashes. A ceasefire was eventually announced on May 10 — a development the United States claimed to have brokered, though India has publicly denied any third-party involvement.
Business Recorder
a day ago
- Business
- Business Recorder
PM Shehbaz lauds FBR reforms as tax filers jump to 7.2mn
The number of income tax return filers in Pakistan has crossed 7.2 million by June 30, 2025, up from 4.5 million in the previous year — a significant increase of 60% attributed to the Federal Board of Revenue's (FBR) ongoing reforms and digitisation efforts. The development came to light during a review meeting on ongoing FBR reforms held under the chairmanship of Prime Minister Shehbaz Sharif on Wednesday, read a statement released by the Prime Minister's Office (PMO). During the meeting, it was shared that enforcement actions and other reforms by FBR have resulted in a historic 1.5% increase in the tax-to-GDP ratio in 2025 compared to 2024. It was reported that due to the faceless customs clearance system, the clearance time will be reduced from 52 hours to 12 hours within the next three months. PM calls for third-party validation of FBR reforms In the retail sector, tax collection on income increased by Rs455 billion by June 30, 2025, compared to 2024. This rise was attributed to the implementation of Point-of-Sale (POS) integration, alignment of retailer systems with FBR, and enforcement efforts. It was told that a specialised system has been introduced to allow for appeals within the faceless system, ensuring timely case resolutions through video links. Due to these measures, the weighted average tariff on imports has decreased by 2.16%, reducing raw material costs for industries and supporting the manufacturing sector, read the statement. It was learnt that international experts' recommendations will also be incorporated into tax reforms and the digitisation of various economic sectors. The meeting was also presented with additional proposals for FBR reforms. PM Shehbaz appreciated the efforts of FBR officials and staff involved in the reform process and directed that actionable targets with timelines be finalised and presented next week. The prime minister stated that while achieving targets is a positive sign, further effort is needed. He emphasised that FBR's digitisation has supported goal achievement, and steps must now be taken to make it a sustainable, permanent system. PM Shehbaz orders crackdown on tax evasion, under-invoicing PM Shehbaz instructed that additional enforcement measures be introduced to curb the informal economy. He also directed that a comprehensive roadmap be developed for the restructuring of FBR's Digital Wing, with a timeline established for achieving set objectives. The prime minister stressed that all stakeholders must be consulted and their input incorporated into the reform process. He also directed that the facilitation of businesses, traders, and taxpayers should be prioritised in implementing FBR reforms.
Express Tribune
2 days ago
- Business
- Express Tribune
PM reaffirms security of Chinese nationals as top priority
Listen to article Prime Minister Shehbaz Sharif on Tuesday reiterated that the protection of Chinese nationals in Pakistan remains a top priority for the government, underscoring its significance in the context of the country's economic future and bilateral cooperation with China. Chairing a high-level meeting on security arrangements for Chinese citizens, the prime minister said that creating a safe and business-friendly environment was essential to maintaining the confidence of Chinese companies operating in Pakistan. 'The confidence of Chinese companies in the Pakistani economy is extremely important for our economic future,' he stated. Read More: UN adopts Pakistan-sponsored resolution on 'peaceful dispute settlement' He highlighted ongoing efforts to bolster security for Chinese nationals across the country, including in the federal capital, citing Safe City projects as a key component of this strategy. These surveillance and response systems, he said, were being implemented nationwide in accordance with international standards. 'China is our friendly country, and the safety of our Chinese brothers is our foremost responsibility,' PM Shehbaz said while noting that the China-Pakistan Economic Corridor (CPEC) had entered its second phase, focused on business-to-business collaboration, further increasing the importance of secure conditions for Chinese citizens. In view of this, the premier directed authorities to take special measures at all airports to facilitate the arrival and departure of Chinese nationals. He also called for the inclusion of Safe City-standard surveillance systems in all upcoming housing projects. Also Read: Punjab opposition leader, PTI supporters sentenced to 10 years in May 9 case During the briefing, the interior minister and senior officials updated the prime minister on security protocols in place, highlighting that special arrangements had been made nationwide in light of potential security threats. Chinese nationals are currently being provided with security escort services for travel, the meeting was informed. The federal and provincial governments are working in coordination on these measures, the briefing added, noting that Safe City projects were being expanded across multiple urban centres. The meeting was attended by Interior Minister Mohsin Naqvi, Information Minister Attaullah Tarar, State Minister Talal Chaudhry, Special Assistant to the Prime Minister Tariq Fatemi, and other senior officials.
