Finance Minister Muhammad Aurangzeb has unveiled the Economic Survey of Pakistan 2023-24 – an yearly exercise before the presentation of budget – as the government has revealed its intentions for the next fiscal year after the National Economic Council (NEC) approved a massive increase in its Public Sector Development Programme (PSDP) budget for the next fiscal year. Addressing a press conference in Islamabad, Finance Minister Muhammad Aurangzeb announced that revenue collection for the fiscal year 2023-24 saw a 13 percent rise compared to the previous year. He highlighted that the GDP growth rate was 2.38%, falling short of the target due to ongoing economic challenges. The economic survey also indicated that the rupee depreciated by 29% during the fiscal year. The finance minister said that the large scale manufacturing sector faced significant setbacks due to inflation, increased energy costs, and other issues.

The decline in inflation has been precipitate, which implies that a deeper rate cut might not prevent the inflation genie from escaping the bottle. Further, with a possible increase in the General Sales Tax, the policy rate needed to be set with the probable inflationary effects in view. However, the National Economic Council held its pre-Budget meeting and approved a development budget of Rs 3.792 trillion. That is where the policy rate should be, around the time it is achieved. Investment includes government development spending, so if the PDSP is cut, GDP growth is reduced.

ISLAMABAD, Jun 11 (APP): Minister of State for Information Technology, Shaza Fatima on Tuesday said that the GSMA Digital Nation Summit would be held on August 7, marking a milestone in Pakistan’s journey towards a digitally empowered nation. She shared these views while chairing a curtain-raiser meeting for the ‘GSMA Digital Nation Summit’ at the Ministry of IT, according to a news release. She affirmed the government’s commitment to supporting digital innovation and infrastructure development. The GSMA Digital Nation Summit is seen as a testament to the collective commitment to a digital future. The meeting was attended by Secretary IT Captain (Retd) Muhammad Mahmood, Head of GSMA APAC Julian Gorman, and Country Lead GSMA Saira Faisal.

The Oilers have their backs against the wall after second straight loss in FloridaPhoto credit: BaggedmilkBy baggedmilk 40 minutes ago

ISLAMABAD - Pakistan Meteorological Department (PMD) has forecast mainly hot and dry weather for most parts of the country during the next 24 hours. While very hot weather is expected in central/southern plain areas. Partly cloudy weather with light rain/thunderstorm is likely at isolated places in Gilgit-Baltistan and upper Khyber Pakhtunkhwa during evening/night. A shallow westerly wave was present over northern parts of the country. During the last 24 hours, hot and dry weather prevailed over other parts of the country while very hot in southern parts.

photo: fileDue to the bumper production of 9 million tonnes of rice in the country, 5 million tonnes worth $3.5 billion have been exported from Pakistan so far. By the end of this year, the volume of rice exports from Pakistan is expected to reach $4 billion. This was stated by the Chairman of the Rice Exporters Association of Pakistan (REAP), Chellaram Kewali, while addressing a press conference on Monday along with former REAP Chairman Rafiq Sulaiman. He also mentioned that opportunities are available for Pakistani rice exporters in new markets such as Mexico, Russia, and the Philippines. Pakistani rice was delayed in reaching Kenya due to the Red Sea crisis, forcing shipments to take a longer sea route.

The upcoming federal budget for the fiscal year 2024-25 includes a proposal to increase taxes on imported mobile phones, Express News reported. Sources from the FBR revealed that the new financial year’s budget suggests imposing a federal excise duty (FED) on imported mobile phones, raising the Pakistan Telecommunication Authority (PTA) tax, and further increasing the Gross Sales Tax (GST) on these imports. The sources noted that with the current 25% GST on mobile phones, an additional increase in GST would be challenging. The government has decided to take loans amounting to Rs932 billion for development projects in the next fiscal year. According to sources, the federal government will secure Rs316 billion, while the four provinces will borrow Rs616 billion in foreign loans.

Our government is trying to provide relief to the people, Nasir ButtReduction in interest rate will reduce cost of production, Mirza Akhtiar BaigISLAMABAD:PPP leader Fathullah Mian Khel’s conversation in the program “Sachi Baat SK Niazi Saay”. Due to reduction in interest rate, inflation will come down a lot, Fathullah Mian KhelThere is a lot of pressure from Islamic organizations to abolish usuryLeader of Muslim League-N Nasir Butt’s conversation in Sachi Baat programA reduction in interest rate is welcome, it is a sign of reduction in inflation, Nasir ButtOur government is trying to provide relief to the people,Chief Minister Maryam Nawaz is doing a great job in PunjabPackage has been given to farmers, new policy will be madePetrol, flour, chicken and many commodities have become cheaper, said PML-N leaderThe government has been in place for a few days now, people should not be disappointed,The law of defamation was made so that those who lie on TV can be punishedUK law states that black money is returned to the country from which it is exportedFounder PTI and Malik Riaz were thinking that the next 10 years are also theirs,Prime Minister Shehbaz Sharif’s visit to China will have very good effects,The government is also trying to bring political stability, said PML-N leaderWhoever has any problem should sit and talk with the partyEconomist Mirza Akhtar Baig’s talk in Sachi Baat programReduction of interest rate was very important to control inflation, Mirza AkhtarDue to the high markup rate, businesses closed, new industries did not start,Reduction in interest rate will reduce cost of production24% interest rate payments were very difficult for banksWe expect the markup rate to be brought down to single digits,IMF’s condition is that taxes should be increased in three sectorsBusinessmen and the government are at odds over increasing taxes in these sectorsWe are on increasing old taxes instead of new taxesRaising revenue alone will not solve the problems, spending will also have to be reduced, opinedThere is no example in the world of filer or non-filerAnyone who is a non-filer is a tax evader, there should be no exemption, Akhtar BaghWhenever national defense is discussed, Dr. Abdul Qadeer’s name will be mentioned in it,If we talk about atomic bomb, the names of former prime minister Zulfiqar Bhutto and Nawaz Sharif will be mentioned,Nawaz Sharif faced a lot of difficulties when he carried out nuclear explosionsNawaz Sharif said that India has done 5 blasts, so we will do 6,Mian Nawaz Sharif has described the founder of PTI as a crying baby,Founder PTI said I am kept in death cell, he is lying

On the occasion, Prime Minister Shehbaz Sharif vowed to rid Pakistan of all sorts of enemies. Capt Muhammad Faraz Ilyas along with six brave soldiers were martyred during an IED blast at Lakki Marwat. After the funeral prayers, the Prime Minister and Corps Commander participated in the burial of Shaheed Captain and offered Fatiha at the grave. Muhammad Faraz Ilyas Shaheed. He announced to transform the native village of martyred officer as model village and renamed it as “Faraz Ilyas Shaheed”.

The visit, according to rumors, was made in order to meet program objectives and budget targets set by the IMF regarding Chinese debt and power purchase agreements with Chinese enterprises. It would be an understatement to say that the administration has great challenges in creating its budget. Conversely, it needs to strike a balance between the public’s expectations of relief and the strict demands of the IMF. The finance minister and prime minister have repeatedly stated that they are committed to implementing the necessary structural changes as part of the new IMF program. Many doubt that they will be able to translate their statements into clearly defined budgetary actions.

LAWSONTherese H. Lawson (nee Martin) age 82 late of Mokena, IL. Therese was a member of the Choir at St. Mary’s Church for 20 plus years. Mokena, IL. 60448 to St. Mary Church Mass 10:00 AM. Interment in St. Mary Cemetery.

RANGELPhilip “Willy” Rangel. Beloved son of the late Benjamin and Cecelia Rangel. Loving brother of Marta Wertz, Lucy Krouse, Mary Origel, Lori (Frank) Martin, Agnes (David) Espinosa, John (Ann) Rangel, Gloria (Donald) Rose, Dennis (Carol) Rangel, Michael (Judi Kay) Rangel, Andrea (Kenneth) Borucke, Charlotte Rangel, Charles (Rose) Rangel and Dr. Lee Rangel DC. Many nieces, nephews, great nieces and nephews. Funeral Monday 10:00 AM from the Vandenberg Funeral Home 17248 South Harlem Ave. Tinley Park to St. Benedict Church Mass 11:00 AM.

‘The Acolyte,’ has broken viewership records for Disney records but also alienated some fans. According to Startefacts, ‘The Acolyte’ promised to transform the franchise but the show has instead angered many fans. Whether ‘The Acolyte’ will delve into the nuanced use of the Force or alter franchise lore remains to be seen, leaving fans cautiously optimistic about its potential. Disney’s production of Star Wars content has been extensive, but not always well-received. Despite the criticism, ‘The Acolyte’ has achieved significant success, becoming the most-watched show on Disney+ with 4.8 million views for its premiere episodes.

Yesterday’s cricket match against India took a surprising turn as our neighbouring team pulled off a last-minute win in a match that seemed to be in our favour. Several celebrities have already shared their opinions regarding that rollercoaster of a match, the most recent of which is video jockey and television actor, Anoushey Ashraf. In a candid Instagram post, she delivered a scathing critique of the national state of affairs following a disappointing performance by the country’s cricket team. Her indictment of the broader societal issues reflects a widespread sentiment of frustration with institutional failures that extend far beyond the cricket pitch. A win would've also been a bandaid on a wound that runs way deeper.

In a low-scoring T20 World Cup encounter, India emerged victorious against Pakistan by a narrow margin of six runs. Pakistan, chasing a target of 120, faltered despite a strong start by openers Babar Azam and Mohammad Rizwan. Little bit slow, some balls are bouncing a bit more, but you expect it with a drop-in pitch," Babar Azam said in the post-match ceremony. Read more: India defeat Pakistan by six runs, reach top of Group A points tableIndia's innings, on the other hand, saw a collapse as they were bowled out for 119 runs. Despite initial setbacks, India managed to reach a respectable total, thanks to some valuable contributions from their middle-order batsmen.