Security forces kill six BLF terrorists in Makran IBO: ISPR

By

-

June 20, 2022

RAWALPINDI: Security forces killed six terrorists belonging to a banned outfit Balochistan Liberation Front (BLF) in an intelligence-based operation (IBO) in Balochistan’s Central Makran area, the military’s media affairs wing said.

In a statement, the Inter-Services Public Relations (ISPR) said the IBO was conducted on the information of the presence of terrorists in the general area of Central Makran Mountain Range, near Paroom, Balochistan.

It added that the security forces conducted an operation to apprehend them but once the troops started a clearance operation in the area, terrorists tried to escape from their hideout and opened fire on security forces while in exchange of firing six terrorists were killed.

“These terrorists were involved in attacks on Security Forces Posts besides recent planting of IEDs on Security forces convoys in Proom and surrounding areas of Panjgur,” the ISPR said.

In addition, arms and ammunition have also been recovered which were intended to be used by the terrorists for disrupting peace and security in the area.

“Security Forces, in step with the nation, remain determined to thwart attempts at sabotaging peace, stability and progress of Balochistan,” the statement said.

Advertisment

Ramzan Sugar Mills Case: PM granted permanent exemption from appearance

By

Asifa Farhat

-

June 20, 2022

LAHORE: An Accountability Court in Lahore on Monday granted permanent exemption from personal appearance in Ramazan Sugar Mills case to Prime Minister of Pakistan and Pakistan Muslim League-Nawaz (PML-N) president and Shehbaz Sharif.

Pronouncing the reserved verdict, the Acciuntability Court has approved the petition filed by the PM Shehbaz Sharif for permanent exemption from appearance in Ramzan Sugar Mills’ reference

Earlier, PM Shehbaz Sharif appeared before an accountability court in Lahore in case related to the Ramazan Sugar Mills. The judge of Accountability Court Sajid Ali Awan conducted the hearing.

In the proceedings on Monday, Shehbaz Sharif’s lawyer completed his arguments regarding PM’s permanent exemption from personally attending the hearings. Shehbaz’s lawyer prayed to the court to allow PM’s representative Mohammad Nawaz to appear in court in his place.

“Shehbaz Sharif is the prime minister of Pakistan, he has never taken any wrong advantage of the bail,” he said.

While talking on the rostrum, PM Shehbaz said that my schedule regarding the national duties is not hidden and if my plea will be rejected, “I will keep on appearing before the court.”

He said that he approved to apply taxes on sugar mills and his son’s sugar mills also bore loss of 2.5 billion rupees.

On the other hand, National Accountability Bureau (NAB) prosecutor objected the PM’s application of exemption from attending the hearing permanently. He said that no solid reasons have been given by Shehbaz Sharif’s lawyer from which he can be granted exemption from attending the hearings. While he also added that Shehbaz’s medical certificate is also not submitted with the application.

It is pertinent to mention here that the Punjab Chief Minister Hamza Shahbaz filed an application seeking exemption from personal appearance in Monday’s hearing due to budget engagements.

PM Shehbaz and CM Hamza were indicted in the Ramzan Sugar Mills case in 2020.

Advertisment

US consented to help Pakistan to negotiate deal with IMF: report

By

Palwasha Mustafa

-

June 20, 2022

ISLAMABAD: Washington has consented to help Islamabad negotiate a deal with International Monetary Fund (IMF), after Pakistan requested the United States in this regard.

Finance Minister Miftah Ismail and State Minister for Finance Aisha Ghaus Pasha held a meeting with US ambassador in which they sought US help.

The diplomatic sources said that it would not be sufficient as Islamabad would have to establish “contacts” with the US Treasury high-ups to muster up the required support after evolving a consensus on the framework on the basis of which both sides could make progress for signing a memorandum of financial and economic policies (MEFP) document.

MEEP is a prerequisite for moving towards the signing of the staff-level agreement as it provides the basis of a framework on which both sides evolve consensus.

“Without broader agreement on the basis of framework, no one could help Pakistan,” the official had said.

As per the publication’s report, Pakistan sought help from the US as the global lender has yet to agree to a staff-level pact despite the government having taken many difficult steps and Washington has a considerable influence over the IMF’s decision-making as the largest shareholder.

A report also stated Pakistan has not yet received the first draft of MEFP from the IMF as targeted earlier because certain matters remained unsettled. “We are working very closely with the IMF and will soon reach some conclusion,” a top finance ministry official said.

The authorities in the finance ministry were expected to conclude the staff-level agreement by Sunday (June 19) on the basis of revenue and expenditure measures that could deliver next year’s primary budget (the difference between revenues and expenditures, excluding interest payment) in Rs152 billion surplus.

The government took the toughest measures to end fuel subsidies and hiked the POL [petrol, oil, lubricants] prices up to unprecedented levels in order to convince the Fund to revive the programme. However, the IMF is still insisting on doing more knowingly that Islamabad has turned into a ‘desperate borrower’ mainly owing to the depletion of foreign currency reserves.

The Fund still has reservations over Rs9.5 trillion expenditures projected by the authorities for the next fiscal year. The revenue measures in the budget, according to IMF estimates, are also insufficient to deliver slightly over Rs7 trillion target.

Advertisment

Pakistani rupee’s depreciation against US dollar continues

By

Sameena Umar

-

June 16, 2022

KARACHI: The Pakistani rupee continued its downward slide against the US dollar as it depreciated by 44 paisa in the interbank market on Thursday.

The local currency was being traded around Rs206.90. According to the State Bank of Pakistan (SBP), the currency closed at Rs206.46 on Wednesday.

As per experts, economic uncertainty, delay in IMF tranche and increasing current account deficit are behind depreciation of the local currency.

Advertisment

NA-240 by-elections polling underway

By

Usman Azhar

-

June 16, 2022

KARACHI: All arrangements have been finalized for by-election in National Assembly constituency NA-240 is underway on Thursday.

The polling has started at 8am and will continue till 5pm without any break.

There are 529,853 registered voters in the constituency who will exercise their right of vote today. The number of female voters in the constituency is 235,470 while the number of male voters is 294,385.

The National Assembly seat comprising Landhi and Korangi area of District Korangi in Karachi had fallen vacant after the death of the MQM-P MNA Deputy Iqbal Muhammad on April 19.

The ECP had declared 203 polling stations in the constituency ‘very sensitive’ out of 309 polling stations while the remaining 106 polling stations have been declared ‘sensitive’.

At least 25 candidates are contesting the by-election in NA-240 out of which 18 are independents. A close contest is expected between MQM-P, TLP, PSP, PPP and Mohajir Qaumi Movement.

Advertisment

Money Laundering Case: Moonis Elahi appears before FIA

By

Qamar Malik

-

June 16, 2022

LAHORE: Pakistan Muslim League (Q) leader Moonis Elahi on Thursday appeared before the Federal Investigation Agency (FIA).

FIA has prepared a questionnaire for Moonis for the investigation. It was asked that If he knows Nawaz Bhatti and Mazhar Iqbal. What does he has to do with the Rahim Yar Khan Sugar Mill? It was also asked that what does he know about the permission letter of Rahim Yar Khan Sugar Mill in 2007?

FIA further questioned that how Makhdoom Umar Sheheryar then got the license of the sugar mill? While several other questions were asked from him.

Earlier on Wednesday, Moonis Elahi had also appeared before FIA. While talking to media, he said that he is present and has no objection to appearing in the case.

“I don’t have much information about the case, but according to Rana Sanaullah there is a case of Rs72 crore and there is no doubt that they have filed the case as political revenge” Moonis said.

Taking a dig at the Interior Minister, he said that Rana Sanaullah has formed the teams to arrest him and it is all to pressurize him.

“Rana sahib do what you can, I have reached the FIA’s office myself,” said.

Advertisment

PMD forecasts pre-monsoon rains in Islamabad, Rawalpindi from tomorrow

By

Tanzeel Ahmed

-

June 15, 2022

ISLAMABAD: As the country sizzled with heatwave, Pakistan Meteorological Department (PMD) forecast pre-monsoon rains from Wednesday (today) in upper parts of the country and from Thursday (tomorrow) in twin cities of Rawalpindi and Islamabad. The new wet spell is likely to continue till June 23.

The Met Office revealed that as the heatwave conditions were likely to subside, water availability would improve for crops, vegetables and orchards.

The authorities concerned have been advised to remain alert during the forecast period.

It said moist currents from Arabian Sea were likely to penetrate upper parts of the country from June 15. Under the influence of the weather system, rain-wind/thundershowers (with few heavy falls) are expected in Bhimber, Kotli, Mirpur, Poonch, Bagh, Haveli, Hattian, Muzaffarabad, Neelum Valley and Gilgit-Baltistan (Astore, Ghizer, Gilgit, Diamir, Hunza and Skardu).

Rain-wind/thundershowers are also expected in Islamabad, Rawalpindi, Murree, Attock, Chakwal, Jhelum, Mianwali, Sargodha, Khushab, Hafizabad, Sialkot, Narowal, Lahore, Sheikhupura, Faisalabad and Jhang from June 16 to 21 and in Multan, Dera Ghazi Khan, Rajanpur, Bhakkar, Layyah, Muzaffargarh, Kot Adu, Sahiwal, Khanewal, Pakpattan, Okara, Bahawalnagar, Bahawalpur, Khanpur and Rahimyar Khan from June 17 to 20 with occasional gaps.

Heavy falls are expected in Rawalpindi, Islamabad, Jhelum, Gujranwala, Sialkot, Lahore, Kasur and Sheikhupura on June 16 and June 17 that may generate urban flooding.

Rain-wind/thundershowers (with isolated heavy falls) are expected in Chitral, Dir, Swat, Mansehra, Kohistan, Abbottabad, Haripur, Peshawar, Swabi, Nowshera, Kurram, Kohat, Waziristan, Lakki Marwat, Bannu, Dera Ismail Khan from June 15 to June 22.

Meanwhile, Commissioner Rawalpindi Noorul Amin Mengal has asked Water and Sanitation Agency (Wasa) to complete the dredging of Leh Nullah as soon as possible to avoid flooding in the nearby areas.

He said the deputy commissioner and assistant commissioners would ensure the cleanliness of nullahs and drains in their respective areas.

Advertisment

Cabinet signals restoration of weekly off on Saturdays, cuts petrol quota

By

Palwasha Mustafa

-

June 7, 2022

ISLAMABAD: The federal cabinet has given the go ahead to restore weekly offs on Saturdays in government offices, Federal Minister for Information and Broadcasting Marriyum Aurangzeb announced after a crucial federal cabinet meeting Tuesday.

The cabinet met under the chairmanship of Prime Minister Shehbaz Sharif and discussed how the government can deal with the energy crisis at hand due to which the public has had to suffer hours-long load-shedding.

The power division presented an energy conservation plan to tackle the shortage of electricity amid skyrocketing prices of oil and gas in the international market and the finance division an austerity plan, according to Aurangzeb.

Although the cabinet approved the resumption of Saturdays as a holiday, no decision could be made over closing markets by 7pm to save power.

She said there are suggestions of allowing work-from-home on Fridays and early closure of markets. A cabinet sub-committee has been formed which will now deliberate over the early closure of markets and hold consultations with other traders and business sector stakeholders.

Apart from this, a 40% cut in the fuel quota of ministers and government employees was also approved.

Aurangzeb further stated that except for important visits, unnecessary foreign visits of the government officials have been banned, while taking medical treatment outside Pakistan has been banned on the government officials and cabinet members.

Moreover, the purchase of cars at the government level has been restricted and a decision has been taken to shift the government meetings to virtual and video mode. Organising lunches, hi-teas and dinners at government offices has also been banned.

Defence Minister Khawaja Asif had earlier suggested two holidays a week to overcome the energy crisis.

The information minister said that after June 30, the duration of load-shedding will be reduced to two hours.

She said that the duration of load-shedding will be slashed to three-and-a-half hours by June 15, while by June 30 it will be reduced to only two hours as 600 megawatts will be added to the national grid.

She said that currently there is a difference in the supply and demand of electricity.

“The demand is 28,400 MW, while the available supply is 25,600 MW,” she said.

Aurangzeb claimed that Pakistan produced greater amount of electricity this month as compared to the last year. She said that PM Shehbaz Sharif only looked into the matter of load-shedding for two days and now 2,871 MW of additional electricity has been added to the system.

Meanwhile, in a statement on Twitter, Khawaja Asif had said that in the current situation, there should be a holiday on Saturday and Sunday and a half day on Friday, i.e. a four-and-a-half-day work week.

He proposed that office timings be increased by an hour on working days.

Advertisment

Talks with Pak authorities intended to conclude seventh review: IMF

By

Our Correspondent

-

June 7, 2022

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have yet to reach an agreement on the fiscal framework, as Islamabad makes last-ditch efforts to persuade the IMF to approve manageable fiscal adjustments’ of 1.5% to 2% of the GDP in the upcoming budget.

The economic managers are still in a difficult situation, as on the one hand they must persuade the IMF of a slower pace of fiscal adjustments, while on the other they must gain the confidence of their political leadership over tough measures.

“The discussions with the Pakistani authorities, aimed at reaching an agreement to enable the conclusion of the pending seventh review under the 2019 Extended Fund Facility (EFF), are ongoing and remain very constructive”, IMF’s resident chief, Esther Perez Ruiz, said.

“The IMF recognizes the authorities’ efforts to bring fuel prices in line with international prices as part of a comprehensive set of policies and reforms to restore macroeconomic stability and meet programme objectives.”

“The budget for the next fiscal year is a key policy instrument in this regard. The IMF looks forward to facilitating review progress via continued dialogue and close engagement with Pakistan’s government,” she added.

However, Pakistani authorities, especially a Federal Board of Revenue (FBR) team, along with the Ministry of Finance, would be required to convince the IMF’s specialist on the fiscal front that the taxation measures would be able to broaden the tax base as well as jack up the tax collection beyond Rs7.255 trillion and up to Rs7.5 trillion without creating distortions in the tax system.

When a top official government functionary was contacted for comments, he said that the government was still making efforts to convince the IMF on the pace of adjustments on the fiscal front, which would be unveiled in the upcoming budget, as the government wanted to undertake fiscal adjustments in the range of 1.5 to 2% of GDP, equivalent to Rs1.5 trillion to Rs2 trillion maximum in the coming budget through raising the country’s revenues and curtailing expenditures, Geo News reported.

The IMF placed the reformed Personal Income Tax (PIT) as a structural benchmark, but the FBR wants to avoid increasing tax rates, especially on lower slabs and reduce the number of slabs from 12 to six in the upcoming budget.

Although the federal finance minister publicly refused to jack up PIT rates in the coming budget, insiders say that everything was still open to taking the IMF into confidence before the announcement of the budget within the next few days. The budget for 2022–23 will be announced on June 10, 2022.

The FBR is making efforts to convince the IMF to slap increased rates on higher-income slabs, and it is also under consideration to impose a luxury tax on higher slabs over and above the income tax rate in the coming budget.

However, the FBR is busy identifying income tax exemptions in the coming budget. There are different income tax exemptions that are under consideration to be withdrawn in the budget for 2022–23.

However, it requires the political will of the government to take the bold decision to withdraw income tax exemptions such as charitable donations, investment in shares and insurance, investment in health insurance, and contribution to an approved pension fund, introduced in the Finance Act 2021 for specified industrial undertakings; Clause 57(1) Income of NIT Trust; Clause 66-Comsats; Clause 99A-Profit from the sale of immovable property to a REIT; Cl 103A-inter-corporate dividend; Cl 105B-dividends; and Cl 132C (inserted by Finance Act 2021 with retrospective effect from 2013) on income from bagasse-based power projects.

The tax credits are mostly for individuals as income tax exemptions are available to military personnel, judges, presidents, governors, and ministers on different perks and privileges, and it is yet to see whether the government withdraws these income tax exemptions or continue by citing different excuses in the next budget.

Advertisment

Four bogies of Karachi Express derail near Karachi

By

Usman Azhar

-

June 7, 2022

KARACHI: Four bogies of 15 Up Karachi Express train were derailed near Karachi Cantt Station soon after the train departed for Lahore.

According to spokesman for Pakistan Railways, the Lahore bound train s four bogies including two Economy Class coaches, one AC Standard and one AC Sleeper coach derailed near Karachi Cantt Station when the train was running at 15kp/h speed.

Fortunately no loss of life was reported due to the derailment of coaches while the relief work had been initiated. The spokesman said soon the track would be cleared for rail traffic.

Advertisment

Tag: islamabad

Adblock Detected!