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KARACHI: An International Monetary Fund (IMF) official confirmed on Tuesday that the global lender was not considering increasing the amount of Pakistan’s $1.4 billion loan from its climate resilience fund, as Islamabad assesses economic damages from the recent devastating floods. 

Islamabad and the IMF reached a staff-level agreement on the second review under Pakistan’s Extended Fund Facility (EFF) and the first review under the lender’s Resilience and Sustainability Facility (RSF) last week. The RSF is part of a broader reform program that aims to help Pakistan adapt to increasingly frequent and devastating climate shocks.

Pakistan is the first country in the Middle East and Central Asia region to access the RSF program. The expected approval from the IMF’s Executive Board will pave the way for Pakistan to receive $200 million under the RSF, the IMF said last week. The South Asian country has said it is currently assessing damages caused by heavy rains and floods this monsoon season, which have killed over 1,000 people, 22,000 livestock and washed away over 2.2 million acres of crops since late June. 

When asked whether the IMF had any plans to increase its funding from Pakistan’s $1.4 billion RSF program, the lender’s country representative for Pakistan, Mahir Binici, told Arab News in a written response: 

“On May 9, 2025, the IMF Board approved Pakistan’s arrangement under the Resilience and Sustainability Facility (RSF), supporting the authorities’ efforts to build economic resilience to climate vulnerabilities and natural disasters, with access of around $1.4 billion.

“A change in the access amount is not under consideration.”

About Islamabad’s implementation of the EFF program, Binici said Pakistani authorities have demonstrated commitment to implementing reforms under the EFF and made “significant effort” to meet program targets, continuing to entrench macroeconomic stability and rebuilding confidence. 

“The implementation of specific targets and commitments under the EFF-supported program is still under assessment,” the official said. 

Pakistan secured the $7 billion bailout from the IMF under the EFF program in September 2024 after months of negotiations to stabilize its struggling economy, rebuild reserves and attract foreign investment. The program came after record inflation and devastating floods pushed millions into poverty.

The IMF warned last week that the recent floods had darkened Pakistan’s outlook, particularly for agriculture, and could drag FY26 growth down to around 3.3–3.5 percent.

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday assured minorities that there was no room for hatred, chaos or "terrorism" in Pakistan, as millions of Hindus marked the holy Diwali festival worldwide. 

Diwali is one of Hinduism's most significant and widely observed holidays. It is celebrated with bright lights, prayers for wealth, health, and prosperity, and exchanging gifts and sweets. 

Only four percent of Pakistan's population comprises minorities, which include 5.2 million Hindus, 3.3 million Christians, 15,992 Sikhs and others. There have been dozens of instances of mob violence against religious minorities in Pakistan in recent years, including an attack on Christians in Jaranwala, a town in Punjab province, where churches, homes and businesses were set ablaze in August 2023. 

In the southern Sindh province, Hindus have frequently complained about forced conversions, particularly of young girls within their community and attacks on temples. 

"Prime Minister Muhammad Shehbaz Sharif has emphatically stated that Pakistan is a land of peace and tolerance where there is no room for hatred, chaos and terrorism," state broadcaster Radio Pakistan reported. 

Sharif was speaking at a ceremony held at the Prime Minister House in Islamabad to mark Diwali. During his speech, he paid tribute to the services and contributions of Pakistan's minority communities in different fields of life.

He said Muslim and non-Muslim Pakistanis were united to thwart any nefarious designs against the country.

"The Prime Minister said the majority Muslim population of Pakistan has always expressed strong indignation at any despicable acts against the minority communities of the country and stood in unequivocal solidarity with them in any such times," the state broadcaster said. 

Sharif mentioned the representation of minority communities in Pakistan's parliament, the five percent quota requirement in government jobs as well as scholarships for minority students.