IMF delays revival of much-needed programme for Pakistan

The International Monetary Fund (IMF) late Wednesday delayed the revival of the stalled $6-billion programme under the External Financing Facility (EFF) for Pakistan.

The revival was expected to bring stability to the financial markets, the fast-weakening Pakistani rupee, and the depleting foreign exchange reserves, as the government had pinned hopes on the programme's resumption.

Pakistan failed to convince the IMF, as both sides could not reach a staff-level agreement despite week-long negotiations in Doha, Qatar, from May 18-25.

The Fund, in a statement, has emphasised the abolition of subsidies on petroleum products and electricity, among other conditions, as a prerequisite for the programme's revival.

Following the conclusion of the talks, IMF Mission Chief for Pakistan, Nathan Porter, said the Fund held constructive discussions with the Pakistani officials, which aimed at reaching an agreement on policies and reforms.

“Mission has held highly constructive discussions with Pakistani authorities aimed at reaching an agreement on policies and reforms that would lead to the conclusion of the pending seventh review of the authorities’ reform program, which is supported by an IMF Extended Fund Facility arrangement."

Porter said considerable progress was made during the mission, including the need to continue to address high inflation and the elevated fiscal and current account deficits, while ensuring adequate protection for the most vulnerable.

The Fund also appreciated the State Bank of Pakistan's (SBP) decision to hike the policy rate from 12.25% to 13.75% — a move made to control the increasing inflation.

But the mission chief noted that on the fiscal side, there were deviations from the policies agreed upon in the last review, partly reflecting the fuel and power subsidies announced by the authorities in February.

The PTI-led government had originally agreed on raising the price of electricity and petroleum products, but later in March, Imran Khan announced subsidies on both commodities — and the current government is continuing with the same arrangement.

"The IMF team emphasised the urgency of concrete policy actions, including in the context of removing fuel and energy subsidies and the FY2023 budget, to achieve program objectives," Porter said in the statement.

The mission chief added that the IMF team looks forward to continuing its dialogue and close engagement with Pakistan’s government on policies to ensure macroeconomic stability for the benefit of all of Pakistan’s citizens.

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Russian troops aim to 'destroy everything' in Donbas: Zelensky

Russian troops advanced in eastern Ukraine on Tuesday, pounding key cities and aiming "to destroy everything there," President Volodymyr Zelensky said, as Moscow signalled it was digging in for a long war against its neighbor.

Three months to the day since Russia launched its invasion, Zelensky mourned the thousands of Ukrainian men and women who have perished and he renewed calls for heavy weapons from foreign partners saying arms for Kyiv were "the best investment in stability in the world."

Read more: From Missiles To Helicopters: US Says 20 Countries Offer New Arms For Ukraine

Sergiy Gaidai, governor of the eastern region of Lugansk, said Russian forces were bombarding the industrial city of Severodonetsk with air strikes, rockets, artillery and mortars in an effort to solidify control over the province and move further into Ukraine.

"The situation is very difficult and unfortunately it is only getting worse. It is getting worse with every day and even with every hour," Gaidai said in a video on Telegram. "The Russian army decided to completely destroy Severodonetsk."

He added: "They are simply erasing Severodonetsk from the face of the earth."

In Moscow, Russian Defence Minister Sergei made it clear Russia was bedding in for a long war in Ukraine.

"We will continue the special military operation until all the objectives have been achieved," Shoigu said, using Moscow s name for the war.

In his daily address to the nation late Tuesday, Zelensky called the situation in Donbas "extremely difficult," saying Russian forces were mounting a massive assault on Severodonetsk and several other cities.

Read more: Ukraine rejects concessions as Russians attack in east and south

"All the strength of the Russian army which they still have was thrown there for the offensive," Zelensky said. "The occupiers want to destroy everything there."

Supplying Ukraine with rocket-propelled grenades, tanks, anti-ship missiles and other weapons is "the best investment in maintaining stability in the world and in preventing many serious crises that Russia is planning or has already provoked," Zelensky said.

"The longer this war lasts, the greater will be the price of protecting freedom not only in Ukraine, but also in the whole free world."

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FM Bilawal, Romanian FM discuss areas of mutual cooperation

Foreign Minister Bilawal Bhutto Zardari and Romanian Foreign Minister Bogdan Aurescu have discussed areas of mutual cooperation including in the areas of trade and investment, development and education as well as collaboration at multilateral forums.

They met on the sidelines of the annual meeting of the World Economic Forum (WEF) in Davos, Foreign Office Spokesperson said in a press release on Tuesday.

Minister of State Hina Rabbani Khar was also present during the meeting.

The foreign minister underscored that Pakistan attached high importance to its relations with Romania, both bilaterally and in the context of the European Union.

The two ministers also discussed regional and international issues of mutual interest

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Police arrest PTI leaders Ijaz Chaudhry, Mehmood ur Rasheed

With the clock ticking on PTI’s ‘Azadi March’, the police on Tuesday arrested PTI’s Senator Ejaz Chaudhry, Punjab senior leader Mian Mehmood ur Rasheed and other party workers.

The police continued to raid the houses of the PTI leaders and workers as the government has decided to stop PTI’s 'Azadi March' set to begin today (May 25).

Despite the government ban, ex-prime minister and PTI chairman Imran Khan and other party leaders have vowed to reach Islamabad for the sit-in till the announcement of new elections.

A day earlier, Punjab Police raided the houses of several PTI leaders, including former energy minister Hammad Azhar, Usman Dar, and Babar Awan, while a police constable was also shot dead during a raid in Lahore.

On Tuesday, police arrested senior PTI leader Mian Mehmood ur Rasheed in a late-night raid under section 16 of the Maintenance of the Public Order (MPO).

Earlier, police also raided former education minister Shafqat Mehmood's residence, however, he was not present at home.

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PTI's long march: Govt seals Lahore, Gujranwala, Bahawalnagar

The government has sealed several cities of Punjab including provincial capital Lahore, Gujranwala, Bahawalnagar in an attempt to stop Pakistan Tehreek-e-Insaf (PTI) long marc.

According to sources, the government has sealed all entry and exit points of provincial capital of Punjab by placing containers on the roads.

The police have closed Ravi River Bridge with containers and and also closed GT Road with containers. Lahore-Islamabad Motorway has also been closed by placing containers.

Heavy contingent of police have been deployed at Thokar Niaz Baig and Babu Sabu interchanges of Motorway. Authorities have also closed Sagian Bridge with containers.

In Gujranwal, police have sealed all the entry and exit points of the city with containers in an attempt to stop PTI long march. Police have also conducted raids at PTI leaders and workers houses in the city and have arrested over 150 workers.

In Bahawalpur too, police in a bid to stop PTI workers from reached Islamabad have suspended all public transport. Police have also closed bus stands in the city.

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From Missiles To Helicopters: US Says 20 Countries Offer New Arms For Ukraine

Some 20 countries offered new security assistance packages for Ukraine to battle invading Russian forces in a meeting of allies on Monday, US Secretary of Defense Lloyd Austin announced.

In their second gathering, nearly four dozen countries and organizations forming the Ukraine Defense Contact Group met online to discuss helping Ukraine, and 20 nations pledged arms, ammunition and other supplies to support Kyiv.

The group was briefed by Ukraine Defense Minister Oleksiy Reznikov on the current situation of the three-month-old war, in which the two sides are fighting along a long front line over territory Russia has seized in Ukraine s east and south.

"Today, together with Minister Reznikov and his team, we ve gained a sharper and shared sense of Ukraine s priority requirements and the situation on the battlefield," Austin said.

"Many countries are donating critically needed artillery ammunition, coastal defence systems and tanks and other armoured vehicles," he said.

Others, he added, are offering training for Ukraine s military.

He said that Denmark committed to send a Harpoon anti-ship missile system, and the Czech Republic was offering attack helicopters, tanks and rocket systems.

Harpoons are cruise missiles that can skim the surface of the sea to target ships as far as 187 miles (300 kilometers) offshore, depending on the type.

Usually Harpoons are mounted aboard ships or aircraft, but Denmark is the only country that acquired land-based systems for coastal protection.

The Danish battery would add a layer of protection to Ukraine s Black Sea port of Odessa, which is believed to be under threat of Russian invasion from the sea.

They could also potentially reach the port of Sevastopol, where some of the Russian Black Sea fleet is based.

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Punjab Police raid houses of several PTI leaders ahead of 'Azadi March'

A police constable embraced martyrdom during a raid at a Pakistan Tehreek-e-Insaf (PTI) worker residence in Model Town area of Lahore on Monday night.

According to DIG Operations, police conducted a raid at 112-C Model Town, the residence of a PTI worker named Sajid, during which the police party came under fire from the roof of the house.

DIG Operations also informed that police constable Kamal Ahmed was hit by a bullet during the raid and was taken to hospital where he succumbed to his injuries.

He said that police will take action against those who took law into their hands. He also informed that police are in search to arrest the culprit behind the incident.

It a pertinent to mention here that Punjab police have launched a crackdown against Pakistan Tehreek-e-Insaf (PTI) leaders and workers ahead of PTI long march during which one MAN and dozens of PTI workers were taken into custody.

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