Any decisive War is 10 per cent fighting .... and 90 per cent waiting : India has started hitting Pakistan diplomatically ... now Operation 'checkmate fund flow'

India's diplomatic strike has already hit Pakistan. Further steps are being taken in order to tighten the screw -- as they put it. 

Cornered and unsure of his political career; Pakistan Prime Minister Shehbaz Sharif has reached out to Gulf envoys, hoping to ease rising tensions with Bharat.

Of course, it is a deeply sensitive and tough time for him and his country; and hence he is seeking their help. 

(Almost folded hands .... Pak PM Shehbaz Sharif with Ambassador of UAE to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi.  - snap - Pak Govt source) 

Meanwhile, the Narendra Modi Govt has decided to raise concerns against Pakistan funding with all multilateral development banks.  India is now stepping up its ante against Pakistan post-Pahalgam terror strike and is thus looking at several measures aimed at tightening financial flows for Islamabad.

Indian officials are likely to speak with all multilateral development banks (MDBs) to push back against providing funds and loans to Pakistan against the backdrop of the terror attack of April 22 that claimed 26 lives.

The move would include the World Bank, the IMF, and the Asian Development Bank.

For checking funding through other channels, the Govt of India will also initiate steps for appropriate actions against Pakistan vis-a-vis the Financial Action Task Force (FATF).

It is the global money laundering and terrorist financing watchdog and had taken steps against Pakistan earlier.

  

As for World Bank and IMF, the Govt of India believes there is a need to review development funding to Pakistan due to links with terror financing.

The IMF’s Executive Board will meet on May 9 to review financing facilities extended to Pakistan, according to information available on its website.

The IMF is financing a $7-billion aid package to Pakistan that was approved in September 2024. The ongoing 37-month long Extended Fund Facility programme of the IMF consists of six reviews over the span of the bailout, and the release of the next tranche of approximately $1 billion will be contingent upon the success of the performance review.

In September 2024, Pakistan entered the 25th IMF bailout programme in its history. 

While this has prevented Pakistan from defaulting on its sovereign debt, it has also involved a number of reforms – such as privatising loss-making state enterprises, and raising taxes.  

The World Bank has committed up to $50 billion to Pakistan for close to 400 projects, which includes a $20 billion loan signed in January this year. 

It also approved another $102 million for financing climate resilience. 

It has also green signaled another $108 million for two projects in Pakistan’s Khyber Pakhtunkhwa province. The World Bank’s Board of Executive Directors usually meets twice a week on Tuesdays and Thursdays. The ADB has a board meeting scheduled on May 20.

Pakistan joined the IMF and the World Bank in 1950. Since then, the IMF has supported Pakistan with 25 financial arrangements. 

Currently, the World Bank’s portfolio includes 54 projects in Pakistan with a total commitment of $15.7 billion. As of 2024-end, the ADB has committed over 700 public sector loans, grants, and technical assistance totaling $43.4 billion to Pakistan.

In separate meetings with the Saudi, Kuwait and UAE ambassadors, Shehbaz Sharif briefed them on Islamabad’s stance regarding the April 22 attack in Pahalgam, where 26 people were killed. India has blamed Pakistan for the attack, a charge Islamabad strongly rejects.  

After a Pakistani minister cited 'credible intelligence' suggesting India planned military action over Pakistan’s alleged role in the Pahalgam tourist attack, Prime Minister Shehbaz Sharif and Foreign Minister Ishaq Dar received calls from US officials and other diplomats, according to Sharif’s office and Pakistan’s foreign ministry.  

Sharif’s office stated that he had urged “brotherly countries, including Saudi Arabia, to press India for de-escalation and the defusal of tensions,” reiterating Pakistan’s commitment to peace and stability in South Asia.

Sharif told UAE's ambassador, Hamad Obaid Ibrahim Salem Al-Zaabi that Pakistan had no involvement in the attack on tourists and said he offered to join a credible, transparent and neutral international investigation, according to Sharif's office.

In a meeting with the Saudi ambassador, Nawaf bin Saeed Al-Maliky, Pak PM briefed him about the latest situation. In response, the Saudi envoy said the Kingdom wanted to work with Pakistan for peace and security in the region, the statement said.