State Minister for Finance Col (retd) Waqar Ahmad Noor says the total estimated non-development expenditure for the next financial year is Rs190.047 billion. PHOTO: FILEThe government on Wednesday presented a historic tax-free budget worth over Rs232.047 billion for the financial year 2023-2024 in the budget session of Azad Jammu and Kashmir (AJK) Legislative Assembly. An amount of Rs42 billion has been allocated in the budget for development projects. Additionally, a revised budget of Rs156.0947 billion for the fiscal year 2022-23 was also presented for approval. Further, the budget estimates included Rs4 billion for capital expenditure.

During a meeting with Finance Minister Ishaq Dar held in the Q Block, Donald Blome, the United States Ambassador, raised the question, according to finance ministry officials. However, this plan is still in its infancy stage, although these countries have shown interest in joint ventures many months ago. Dar informed the US ambassador about the fiscal consolidation that he introduced in the budget, showing a primary budget surplus of Rs379 billion. Mitchell advised the finance minister to bridge the trust deficit with the IMF. The US ambassador expressed confidence in the policies and programmes of the government for economic sustainability and socio-economic upliftment of the masses, said the finance ministry.

Jana Sena chief Pawan Kalyan addresses the public meeting in Mummidivaram of Konaseema district on Wednesday. -BY ARRANGEMENTVIJAYAWADA: Jana Sena chief Pawan Kalyan has urged the people of different castes to support his party in the 2024 elections to enable him win power and develop Andhra Pradesh in a big way. Even if I am not a legislator and not having power in my hands, I am able to influence the government. They are making huge money illegally and I challenge them to prove me wrong. In a strong retort to Kakinada City MLA Dwarampudi Chandrasekhar Reddy, Jana Sena chief said, "If we fight against ourselves, somebody is getting benefitted.

After being deposed as Prime Minister for the third time, Nawaz Sharif started a campaign for ‘Vote ki Izzat‘ (Respect for the vote). A new party had to be raised called Pakistan Muslim League (PML). Qureshi Sb also decided to step down when he realised that in the new party ‘Vote ki Izzat‘ had been seriously compromised. The PML has lived up to its design of Vote Ki Beizzati (Dishonouring the vote) by repeatedly siding with the establishment. A new name has been suggested this time for another ‘ Vote Ki Be-Izaati ‘ party.

The recent announcement of the Developing Countries Trading Scheme (DCTS) by the UK has opened up new avenues for trade between the UK and Pakistan. This scheme, aimed at reducing tariffs and simplifying trade terms, presents a remarkable opportunity for Pakistan to unleash its export potential in various sectors. One cannot overlook the significance of simplified trade, as it allows nations like Pakistan to fully capitalise on their strengths. Currently, bilateral trade between the UK and Pakistan stands at an annual volume of 5.63 billion dollars. Stricter implementation measures must be enforced to prevent custom officers from withholding shipments for personal gains, ensuring a fair and efficient trade environment.

US dollar supplies have dropped to $10-15m per day to counters in open market compared to around $50m earlier. PHOTO: filePakistan has successfully narrowed the rupee-dollar exchange rate gap between inter-bank and open markets to the targeted level of Rs5, meeting a major condition of the International Monetary Fund (IMF). Similarly, it ticked up 0.01%, or Rs0.04, to Rs287.22/$ in the inter-bank market. The exchange rate spread had widened to Rs27 some two weeks ago after the currency dropped to the record low of Rs312/$ in the open market. The exchange rate gap between the legal and illegal markets may impact the flow of remittances from overseas Pakistanis through official channels.

The decrease in disbursements can be attributed to major international creditors pulling back due to delays in reaching a deal with the IMF. As against the annual estimate of $1.2 billion, the Islamic Development Bank released only $161 million for oil facilities. Against an annual estimate of $7.5 billion, Pakistan has only received $900 million in foreign commercial loans in the current fiscal year. Due to credit rating-related issues, the government had to include $1.3 billion of Chinese commercial bank debt on its domestic debt balance sheet. The government also expected to receive $3 billion from the IMF, later increased to $3.5 billion, but has only received $1.2 billion so far.

Very hot and humid weather is expected in most parts of the country during the next twelve hours. However, dust storm is expected in Northeast Balochistan. Temperature of some major cities recorded this morning:Islamabad and Peshawar twenty-nine degree centigrade, Lahore thirty-one, Karachi thirty, Quetta twenty-five, Gilgit and Murree sixteen and Muzaffarabad twenty-four degree centigrade. According to weather forecast of Met Office for Indian Illegally Occupied Jammu and Kashmir, partly cloudy and dry weather is likely in Srinagar, Pulwama, Anantnag, and Shopian, dry in Leh and Baramulla dry, while hot and dry in Jammu. Temperature recorded this morning:Srinagar, Pulwama and Baramulla twenty degree centigrade, Jammu twenty-nine, Leh eight, Shopian and Anantnag nineteen degree centigrade.

Prime Minister Shehbaz Sharif on Tuesday called upon the nation and all political parties to work together for bringing the country out of crisis and taking it to new heights of development. He said the prime minister had also launched a historic Rs 20 billion package for rural areas of the federal capital. Later, Prime Minister Shehbaz Sharif also laid the foundation stone of upgradation and rehabilitation project of Sikander e Azam Road. The prime minister handed over the keys of the vans worth Rs62 million to Chairperson PSH Zamurrad Khan. Talking to students of PSH Cadet College, the prime minister urged them to work hard and focus on learning contemporary knowledge.

ISLAMABAD - Another anti-Pakistan ter­rorist associated with Jamat­ul Ahrar and Tehrik-e-Taliban Pakistan Sarbakaf Mohmand has died mysteriously. Ac­cording to sources, the inter­nal rift between the terrorist outfits has intensified which also resulted into the death of Sarbakaf Mohmand. Some so­cial media accounts claimed that Sarbakaf was poisoned by unidentified persons. Be­sides his involvement in ter­rorist activities, Sarbakaf had been carrying out anti-Pa­kistan propaganda on social media through Ghazi Media Network handle. Another reason behind the differences with Sarbakaf was his earlier as­sociation with Jamatul Ahrar thought the group was later merged into Tehrik-e-Taliban Pakistan.

The proposed MoU seeks to establish a framework for cooperation and exchange of expertise between the UAE and Pakistan in renewable energy development. Renewable energy has emerged as a global priority, with countries striving to reduce their carbon footprint and transition towards cleaner sources of energy. Pakistan, with its vast potential for solar, wind, and hydropower resources, offers attractive investment opportunities in the renewable energy sector. The visit of Sultan Ali Jaber signifies the UAE’s keen interest in exploring these opportunities and contributing to Pakistan’s renewable energy goals. Moreover, collaboration with UAE-based entities like Masdar brings valuable expertise and technology advancements that can accelerate the growth of Pakistan’s renewable energy sector.

The Election Commission of Pakistan (ECP) held a high-level meeting on Monday, where it was revealed that the ECP is fully prepared to conduct elections in the country as scheduled. Chief Election Commissioner (CEC) Sikandar Sultan Raja chaired the meeting, attended by the ECP secretary and other senior officers of the polls supervisory body. The meeting directed the ECP secretary to contact the Balochistan chief secretary in this regard today to ensure the immediate delimitation of Quetta district. The ECP was told that the registration of electoral groups in Punjab will be complete on July 17. Once the caretaker provincial government provides funds for the elections and makes security arrangements, the ECP will issue the schedule for the LG elections.

The prime minister held a background meeting with the ambassadors from the Western, European and Asian countries, at least three participants of the meeting told The Express Tribune. The meeting took place just 11 days before the expiry of the current IMF programme, which could also be the last such interaction. The prime minister apprised the foreign ambassadors about the efforts that Finance Minister Ishaq Dar and he personally made during the past many months, a participant of the meeting told on condition of anonymity. In his letters, the prime minister mentioned proper functioning of the foreign exchange market, budget measures and withdrawal of the electricity subsidies. The report said that negotiations with the IMF on any new bailout aren’t likely to start until after elections in October.

The nation observed a mourning day on Monday over the Greece boat disaster, in which dozens of precious lives were lost. The ferry boat was carrying up to 750 people that went down 50 nautical miles off Pylos in southern Greece, it further said. Earlier, another man, Sajid Mahmood, wanted in connection with the ferry tragedy, was also offloaded and arrested by the FIA at the Karachi airport. On the directions of the PM Shehbaz Sharif, a committee had been formed to probe the boat tragedy. This statement endorsed an independent investigation reported by BBC that poked holes in the Greece authorities’ account of the incident.

LAS VEGAS: The United States beat Canada 2-0 on Sunday in Las Vegas to secure their second consecutive CONCACAF Nations League title. First-half goals from Chris Richards and Folarin Balogun were enough to give the United States the victory in their first meeting with Canada in a tournament final. Richards opened the scoring when he headed home a Gio Reyna corner in the 12th minute. Reyna was again the provider in the 34th minute when his through ball was dispatched by Balogun into the bottom corner. Mexico beat Panama 1-0 earlier on Sunday in the third-place match.