Srinagar (Jammu and Kashmir) [India], May 10 : Jammu and Kashmir Chief Minister Omar Abdullah slammed the decision by the International Monetary Fund (IMF) to go ahead with its decision to continue funding Pakistan. The J&K CM decried that the reimbursement from IMF is being used to target several places across Jammu and Kashmir.
In a post on X, CM Abdullah gave a call to the international community and said that giving funds to Pakistan would not result in de-escalation but woud rather embolden its actions to continue with devastations across places such as Poonch, Rajouri, Uri and Tangdhar along with several others.
He wrote on X, "I'm not sure how the "International Community" thinks the current tension in the subcontinent will be de-escalated when the IMF essentially reimburses Pakistan for all the ordnance it is using to devastate Poonch, Rajouri, Uri, Tangdhar & so many other places."
https://x.com/OmarAbdullah/status/1921024713981063364
His remarks come after the International Monetary Fund approved the first review of Pakistan's economic reform program under the Extended Fund Facility (EFF), enabling a disbursement of approximately USD 1 billion.
India, however, firmly opposed providing funds to a country that continues to sponsor cross-border terrorism, warning that such support carries reputational risks for global institutions and undermines international norms.
In a post on X, the IMF said, "IMF Board approved the first review of Pakistan's economic reform program under the EFF, enabling a disbursement of ~ $1 billion, reflecting strong program implementation which has contributed to continuing economic recovery."
https://x.com/IMFNews/status/1920931733551411303
India abstained from the recent IMF vote on approving a loan to Pakistan, not due to a lack of opposition, but because IMF rules do not permit a formal "no" vote, sources added.
Further, New Delhi conveyed its strong dissent within the constraints of the IMF's voting system and used the opportunity to record its objections formally. India's key objections included: India also questioned the effectiveness of ongoing IMF assistance, noting that Pakistan has received support in 28 of the past 35 years including four programs in just the last five without meaningful or lasting reform and highlighted the Pakistani military's continued dominance in economic affairs, which undermines transparency, civilian oversight, and sustainable reform.
In its official statement, India raised significant concerns regarding Pakistan's track record with previous IMF loans and the potential misuse of funds for "state-sponsored cross-border terrorism.
"India's concerns extended beyond economic considerations to governance issues, particularly the role of Pakistan's military in economic affairs. The statement pointed out that "Pakistan military's deeply entrenched interference in economic affairs poses significant risks of policy slippages and reversal of reforms." It referenced a 2021 UN report that described military-linked businesses as the "largest conglomerate in Pakistan" and noted the army's current leading role in Pakistan's Special Investment Facilitation Council.
Earlier today, CM Omar Abdullah expressed grief on the demise of J&K Administration Services officer Raj Kumar Thappa. The J-K CM offered his condolences to Thappa who lost his life after his home was targeted due to shelling from Pakistan in Rajouri.
Pakistan carried out cross-border shelling on Saturday, causing significant damage to civilian areas in Jammu's Rajouri district and heightening fears among residents.
A series of explosions damaged several houses and properties across the region, triggering panic among residents.
India launched the retaliatory strikes immediately after Pakistan attacked 26 locations across India on Saturday, the sources told ANI. Intermittent firing is still going on at several places along the Line of Control (LoC).
At least four airbases in Pakistan were hit by Indian strikes in the early hours of Saturday, top government sources said, as tensions between the two countries continue to escalate.
Drones have been sighted at 26 locations along the International Border and LoC with Pakistan. These include suspected armed drones. The locations include Baramulla, Srinagar, Avantipora, Nagrota, Jammu, Ferozpur, Pathankot, Fazilka, Lalgarh Jatta, Jaisalmer, Barmer, Bhuj, Kuarbet and Lakhi Nala. Regrettably, an armed drone targeted a civilian area in Ferozpur, resulting in injuries to members of a local family. The injured have been provided medical assistance, and security forces have sanitised the area. \
The Indian Armed Forces are maintaining a high state of alert, and all such aerial threats are being tracked and engaged using counter-drone systems. The situation is under close and constant watch & prompt action is being taken wherever necessary. Citizens, especially in border areas, are advised to remain indoors, limit unnecessary movement, and strictly follow safety instructions issued by local authorities. While there is no need for panic, heightened vigilance and precaution are essential," the Ministry of Defence said in its statement.