New Delhi:
After the Pahalgam massacre, diplomatic measures against Pakistan raised again with New Delhi, requesting the Asian Development Bank or ADI to stop financial assistance to Pakistan. Sources said that Finance Minister Nirmala Sitarman recently raised the matter with ADB Chief Masato Kanda in a meeting.
Sources said that the minister, who is in Milan, Italy for the 58th annual meeting of the Asian Development Bank, has already discussed the issue with his Italian counterpart and is attached to many European countries, the sources said.
By 2024, the Sovereign Portfolio of the Asian Development Bank in Pakistan includes 53 loans and 3 grants total $ 9.13 billion.
Sources said that India is also emphasizing for the inclusion of Pakistan in the Financial Action Task Force Gray List to review multilateral funding flows in Islamabad. This special action is taken against those countries that lack money laundering or terrorism measures.
The nations named in the gray list are subject to maximum investigation, which hits foreign investments there. It also reduces their financial access.
Earlier today, Moody’s rating said that the stand-off with India could be a shock for Pakistan as its foreign exchange reserves can come under pressure and weigh its development.
This is the second installment of action against Pakistan. Shortly after the April 22 attack, 26 people were shot dead in Pahalgam, Kashmir, India took a series of diplomatic measures, including a freeze on the Indus Water Treaty, closing the attic border and canceling the visa of Pakistan citizens.
Union Defense Minister Rajnath Singh has indicated about a third, saying what people want “definitely,”
“As the Defense Minister, it is my responsibility to work with my soldiers and ensure the security of the country’s borders. And working with the armed forces, working with those who keep a bad eye on our country, it is my responsibility,” said Mr. Singh.
India has identified five terrorists behind the massacre, three of them Pakistani citizens.
