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Ishaq Dar, Pakistan’s former finance chief, takes up role as foreign minister

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Pakistan’s former finance minister Ishaq Dar was named on Monday as the country’s foreign minister, at a time when growing economic and security challenges will dominate the nation’s foreign policy.

Dar, 73, a chartered accountant and a seasoned politician, comes from Prime Minister Shehbaz Sharif’s Pakistan Muslim League-Nawaz (PML-N) party, which is leading a minority government as part of a ruling coalition.

He is also a close relative of, and close aide to, PML-N chief Nawaz Sharif.

The senator is also a previous four-time finance minister, suggesting a ramped up role for economics in the nation’s diplomacy as the country tries to secure another International Monetary Fund Deal and shore up external financing from foreign capitals.

“Economic diplomacy is the need of the hour for sure,” Dar told Reuters

However, even his political allies have criticised his handling of the economy in his tenure as finance minister in the last coalition set-up, which took over in April 2022 after the removal of former Prime Minister Imran Khan in a parliament vote of confidence.

Inflation spiked as high as 38% and interest rates to 22% during Dar’s 16-month stint, mostly due to the IMF’s policy requirements.

Dar has defended his actions, saying he had to take tough measures to avert a sovereign default by securing the IMF programme, which Khan had scuttled days before leaving his office, an accusation the former cricket-star denies.

However, under Dar, Pakistan struggled for seven months to unlock the remaining tranches of its last $6.5 billion bailout programme, and ultimately it took Shehbaz Sharif’s intervention to secure a new last-ditch deal.

During that time, Dar regularly criticised the IMF on public platforms in the middle of negotiations. He is best known for favouring market intervention to prop up the Pakistani rupee – something the IMF has warned against.

In his new job, Dar will have to handle delicate relationships, including with China and Gulf countries that are key sources of financing for cash-strapped Pakistan, as well as with Washington.

He also faces prickly neighbours, including arch-rival India, which will go to the polls this year, and Taliban-led Afghanistan, which Pakistan accuses of harbouring militants who are increasing attacks on Pakistani soil. The Taliban deny that claim.

Dar will have to navigate these challenges in a minority government that will rely on the support of different parties to pass critical legislation, with alliance partner Pakistan Peoples Party saying it would support the government on an issue-to-issue basis.

In the role, he will also likely have to consider the powerful military, which has maintained a huge influence on the country’s foreign policy, although it denies meddling in politics. – Reuters

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Qatar PM to visit Tehran to pursue mediation efforts

The U.N.’s International Maritime Organization has reported 70 incidents in the Strait of Hormuz since February 28 that have killed 19 seafarers.

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Qatar’s prime minister will visit Tehran on Thursday in an effort to relaunch diplomacy after the U.S. and Iran traded recriminations over Washington’s promise to increase economic pressure on Tehran by targeting its trade partners for sanctions, Reuters reported.

Qatar, a Gulf neighbour of Iran and a US ally, has served as a back-channel negotiator for the warring parties and played a direct role in securing the June ceasefire that briefly led to a cessation of hostilities.

The visit comes as the war nears its sixth month with fighting largely paused but no diplomatic breakthrough in sight. The two sides remain at odds over control of the Strait of Hormuz, a chokepoint for global oil supplies that Tehran has used as leverage.

The memorandum of understanding broke down in part because of differences over the narrow waterway between Iran and Oman where one-fifth of the ⁠world’s oil supplies passed before the war began on February 28.

The guns have gone mostly silent — the US military’s Central Command has not reported any attacks on Iran for nearly a month. Washington appears to be leaning more on economic pressure by announcing plans to cut Iran off from its trading partners with increased sanctions.

Hormuz oil flows have fallen to a three-month low, with just 5 million barrels per day transiting on Monday, according to the latest ship-tracking data. Before the war, the strait carried roughly 20 million barrels per day of crude oil.

Iran’s Revolutionary Guards said on Wednesday that Iran and Oman had agreed how to share the waterway and its revenues, but a senior Iranian source later said the two countries were still working on the details of an agreement.

Despite an aerial bombardment earlier in the war that severely diminished Iran’s conventional forces, Tehran has maintained enough missile and drone capability to attack Gulf neighbours that house US military bases and disrupt oil tankers in the strait, read the report.

The U.N.’s International Maritime Organization has reported 70 incidents in the Strait of Hormuz since February 28 that have killed 19 seafarers.

Thousands of others ⁠have died, mostly in Iran and Lebanon, since the US and Israel attacked Iran with the stated goals of denying Iran a nuclear weapon, helping Iranians topple their government, and destroying Iran’s missile programme.

Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani will discuss the continuation of Qatar’s mediation efforts and other developments in the region during his visit to Tehran on Thursday, Iranian Foreign Ministry spokesperson Esmaeil Baghaei said.

Qatar’s Foreign Ministry spokesperson said on X that Sheikh Mohammed would also address freedom of navigation in the Strait of Hormuz and the need to return to the status quo before February 28, while also ⁠discussing with Iranian officials ways to “de-escalate tensions and create the conditions conducive to dialogue.”

The international waterway was open to free navigation before the war, but Iran has since clung to its control of the strait as leverage and a revenue source, seeking to charge ships a commission, which the US has opposed.

“An agreement with Oman over the Strait of Hormuz has not been finalised,” the senior Iranian source told ⁠Reuters, adding that the talks were continuing on the details of an accord.

That seemed to contradict a statement by Brigadier General Hossein Mohebbi, a spokesperson for the Islamic Revolutionary Guard Corps, who said Iran and Oman had “reached results that are acceptable to both sides” on controlling the strait and its revenues, Reuters reported.

Mohebbi said the strait would remain shut unless the US met Tehran’s ⁠conditions under the interim ceasefire, or memorandum of understanding, that the two sides signed in June before it unravelled. Those conditions include an end to the US blockade on Iranian ports, compensation and removal of sanctions.

Iran and Oman have held on-and-off talks for weeks about controlling traffic through the strait. Tehran and Washington have each tried to assert control over the channel, imposing separate blockades.

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At least 15 infants killed in Islamabad hospital fire

WATCH VIDEO: There ​were ⁠16 newborns at the hospital’s gynaecology ward ​when the fire ​broke ⁠out, one of whom was rescued.

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At least 15 infants were killed when a fire broke ​out at a state-run ​hospital in Pakistan’s capital city ⁠Islamabad, triggered by a ​fault in air conditioning ​systems, local broadcaster Geo TV reported on Wednesday.

The fire, which ​broke out at ​the Pakistan Institute of Medical Sciences (PIMS) ‌hospital, ⁠started around two hours ago, the broadcaster said, adding that “cooling operations” were ongoing, Reuters reported.

​There ​were ⁠16 newborns at the hospital’s gynaecology ward ​when the fire ​broke ⁠out, one of whom was rescued, according to Geo.

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Pakistan and Iran make significant progress in talks on Iran conflict

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Pakistan and Iran have made “significant progress” in talks focused on the U.S.-Israeli war on Iran and efforts to find a path toward peace, Pakistan’s interior minister said on Tuesday after a visit to Tehran.

The discussions focused on measures to prevent further escalation, reopening the Strait of Hormuz and accelerating an end to the conflict, according to a statement from the Pakistani military following a meeting between army chief General Asim Munir and Iranian leaders.

The two sides also discussed regional peace and possible ways to reach a negotiated settlement to the conflict, the statement said.

“Iranian President candidly shared his government’s perspective and we had a very constructive exchange on the issues involved,” Interior Minister Mohsin Naqvi, who accompanied Munir, said in a post on X.

Munir spoke with U.S. President Donald Trump before travelling to Tehran, Reuters reported on Monday.

Trump last week warned of economic consequences for countries providing “any type of lifeline to Iran” as Washington seeks to isolate Tehran. Iran, meanwhile, has threatened to halt all oil exports from the Gulf.

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