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PM Imran Khan meets IMF Chief Christine Lagarde

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PM Imran Khan meets IMF Chief Christine Lagarde

DUBAI: PM Imran Khan had a meeting with the IMF Chief Christine Lagarde here today on sidelines of World Government Summit. 

Prime Minister appreciated the IMF’s support to Pakistan and shared his vision for nation-building, according to a press statement issued by the Ministry of Finance here. He reiterated the government’s commitment to undertaking structural and governance reforms and strengthening social protection in the country. 

The IMF Managing Director acknowledged the steps taken so far by the Pakistan government for stabilizing the economy. She said the IMF would remain engaged in supporting Pakistan in sustaining its economic recovery. The two sides agreed to work together on policy priorities and reforms aimed at reducing imbalances and laying the foundations of a job-creating growth path in Pakistan. In this regard, deliberations between Pakistani authorities and IMF staff would continue to finalize an agreement on the contours of a programme, it added. 

The prime minister, along with a high-level delegation (comprising Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Maritime Affairs Minister Syed Ali Haider Zaidi, Adviser to PM on Commerce Abdur Razak Dawood and Special Assistant to PM on Reforms Dr. Ishrat Hussain)  arrived here earlier in the day to attend the international event, at the invitation of Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai Sheikh Mohammad Bin Rashid Al-Maktoum.

Relevant:  Managing Director of International Monetary Fund Christine Lagarde has reiterated that IMF stands ready to support Pakistan. Talking to Prime Minister Imran Khan in Dubai on the sideline of World Government Summit, she said that decisive policies and a strong package of economic reforms would enable Pakistan to restore the resilience of its economy and lay the foundations for stronger and more inclusive growth. IMF held its Chief also appreciated the government’s policy agenda, protecting the poor and strengthening governance as key priorities to improve peoples’ living standards in a sustainable manner. Christine Lagarde said she had a good and constructive meeting with Prime Minister Khan, during which we discussed recent economic developments and prospects for Pakistan in the context of ongoing discussions toward an IMF-supported program. Addressing the World Government Summit, IMF Managing Director Christine Lagarde said Arab countries have made progress, but there is still much to be done to increase growth and job opportunities for all. She said over the past year, we have looked closely into international experience and policies to increase SME financial inclusion. IMF Chief said based on our recent research, we found that promoting SME financial inclusion requires a holistic approach. Meanwhile, Prime Minister Imran Khan has emphasized on carrying out deep structural reforms to put the country on the path of sustainable development in which the most vulnerable segments of society are protected. In a tweet, he said IMF Managing Director Christine Lagarde also shares a convergence of these views, during her meeting with him, on the sidelines of World Government Summit, in Dubai. 

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DUBAI: Pak PM Imran Khan also met Lebanese PM  Saad El-Din Rafik Al-Hariri on the sidelines of World Government Summit. 

Imran Khan invited the Lebanese companies to invest in Pakistan. The two leaders underscored the importance of cooperation between the parliaments of the two countries. Prime Minister Imran Khan said that he stands in solidarity with the Lebanese people in these challenging times and admires the efforts of the Lebanese government in ensuring the stability and security of Lebanon. Prime Minister Saad Hariri congratulated Prime Minister Imran Khan on his election and assumption of Office of the Prime Minister of Pakistan. The Lebanese Prime Minister underscored close, friendly and fraternal relations between the two countries. Imran Khan congratulated his Lebanese counterpart on the formation of a new government in Lebanon and wished him all success in taking forward this national consensus government.

Prime Minister Imran Khan also held a meeting with UAE Prime Minister Sheikh Rashid bin Mohammed bin Rashid Al-Maktoum, in Dubai today.

A relevant piece published earlier: 

Pak PM, Abu Dhabi Crown Prince exchange views

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Economy

French Police arrest 100 Yellow Vest demonstrators

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PARIS: French police said they arrested more than 100 “yellow vest” demonstrators today in Paris as thousands of protestors took to the streets for the 23rd week of anti-government marches.

Scuffles between police and protesters in the afternoon, after hours of calm, as police used anti-riot grenades and tear gas to disperse marchers in the center of the French capital. Police headquarters reported 126 arrests and 11,000 checks on individual protesters. Paris seemed to bear the brunt of Saturday’s protests, but other French cities were also expecting demonstrations.

Earlier this month, French President Emmanuel Macron signed into law legislation that gave security forces greater powers at demonstrations but which opponents claimed violated civil liberties. One measure banned protestors from covering their faces, but France’s Constitutional Council, its highest constitutional authority, refused to give its green light to one of the most contentious parts of the legislation. 

It would also have given the authorities the power to ban from demonstrations any individual “posing a particularly serious threat to public order”. The “yellow vest” movement is demanding changes to the government’s social and fiscal policies.

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Asia

BMW to recall over 360K vehicles in China

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BEIJING: BMW will recall 360,001 vehicles in China to replace defective airbags, according to a State Administration for Market Regulation statement.
The recall, set to begin on Aug. 30, involves 272,880 vehicles produced by BMW Brilliance Automotive Ltd. between Jan. 2, 2014 and Oct. 16, 2017, and 87,121 imported models manufactured between 5th April 2000, and 21st Feb. 2018.
A defect could cause the airbags to eject debris at passengers if deployed.
The defective airbags were made by now-defunct Japanese supplier Takata. Founded in 1933, Takata went out of business in 2017 because of the airbag crisis. BMW will replace the defective airbags free of charge.

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Govt. to assist rain-affected farmers

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ISLAMABAD: Government has promised to take all administrative and relief measures to help farmers hit by rain-related incidents, as a special relief package will soon be announced for the farmers whose crops were damaged in rains.
Minister for National Food and Security Sahibzada Mehboob Sultan expressed concern over the problems faced by farmers due to abnormal weather conditions.
He said the government would take all possible measures to facilitate the people related to farming so as to benefit from the potential of this sector.
The government has been successful in bringing about awareness amongst farmers through new initiatives taken for the development of the agriculture sector in the country, he added.
Minister said the PTI led government was doing its best to estimate the damages to the crops as well as human losses in the rains at the earliest.
He said the damage caused to standing crops due to heavy rains is moderate and there is no likelihood of food insecurity or emergency situation thereof.
The met department has been directed to remain vigilant and maintain liaison with provincial agriculture departments for the timely weather forecast, he mentioned.

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