New Delhi:
The Finance Ministry this evening denied media reports that claimed Union Finance Minister Nirmala Sitharaman discussed issues related to Pakistan with Asian Development Bank chief Masato Kanda, and her Italian counterpart Giancarlo Giorgetti. “It is clarified that this is not true and has no basis in fact,” the ministry said.
Ms Sitharaman is in Italy’s Milan for the 58th annual meeting of the Asian Development Bank.
As of 2024, the Asian Development Bank’s sovereign portfolio in Pakistan comprises 53 loans and 3 grants totalling $9.13 billion.
India has taken a series of diplomatic measures that included putting a freeze on the Indus water treaty, shutting the Attari border and cancelling visas of Pakistan nationals after the April 22 attack in which 26 people were shot dead by terrorists in Kashmir’s Pahalgam. India has identified five terrorists, three of them Pakistani nationals, behind the massacre.
On Sunday, Union Defence Minister Rajnath Singh hinted at a possible response to the Pahalgam attack, saying what people desire “will certainly happen”.
“As the defence minister, it is my responsibility to work with my soldiers and ensure the protection of the country’s borders. And it is my responsibility to give a befitting reply, by working with the armed forces, to those who cast an evil eye on our country,” Mr Singh said.
Earlier today, Moody’s Ratings said the stand-off with India could be a setback for Pakistan as its forex reserves could come under pressure and weigh on its growth.
