Nation should expect voting in new govt by Nov 10: PML-N
Energy Minister Khurram Dastgir on Friday said Pakistanis should be expectant of voting in a new government by November 10, affirming that 2023 was an election year. He made these remarks during an interview with a private TV channel when asked whether this was an election year. The energy minister’s statement is the clearest indication of a firm timeline for the elections coming from a member of the ruling PML-N yet. Meanwhile, Khurram Dastgir Khan said that government will earmark Rs.171 billion as Tariff Differential Subsidy (TDS) in new financial year to provide relief to citizens of Karachi. On another query, the minister clarified that government possessed 24% shares in K-Electric and appoint directors in the board proportionally.
Source:The Nation
June 17, 2023 04:21 UTC
Extreme Brutality
Pakistan’s Foreign Office, once again, expressed concerns about the confiscation of properties of Kashmiri activists in the Indian Illegally Occupied Jammu and Kashmir (IIOJK). The BJP government seems to continuously violate international laws in the region, and has waged a full-fledged war against the Kashmiris. Meanwhile, the international community stays mum on the issue. On top of this, laws like the Public Safety Act and Unlawful Activities Prevention Act are being used to detail individually illegally. India has been flagrantly violating international laws made specifically for the region of Kashmir, as well as globally agreed legislations like the Human Rights Charter.
Source:The Nation
June 17, 2023 03:28 UTC
Dar says no to IMF diktat
Dar made a sudden appearance and recorded his views on the IMF programme at the meeting that now seems meeting its unpleasant end. The PPP’s former finance minister, Senator Saleem Mandviwalla, said on Thursday that he was in favour of completing the 9th review of the IMF programme. Under the IMF programme, Pakistan cannot give any type of tax amnesty scheme. The World Bank has also indicated giving a $450 million loan under the RISE-II programme but it is contingent upon the IMF good health of economy certificate, said Ishaq Dar. Dar made it clear that he did not make the new budget in consultation with the IMF.
Source:The Express Tribune
June 16, 2023 18:36 UTC
Foreign reserves climb to $4.01b
The research head was of the view that the critically low foreign exchange reserves would not allow improvement in the rupee-dollar exchange rate. photo: fileThe State Bank of Pakistan (SBP) has reported a 2.65% increase in foreign exchange reserves on a weekly basis, with the total reaching $4.01 billion, according to data released on Thursday. As of June 9, 2023, the SBP’s foreign currency reserves stood at $4,018.7 million, marking a $107 million rise compared to $3,912.2 million on June 2. Ismail Iqbal Securities, Head of Research, Fahad Rauf pointed out that improvement in the country’s foreign reserves hinged upon the revival of the IMF programme and fresh financing from other multilateral and bilateral creditors. Rauf projected that the reserves were expected to further increase to approximately $7-8 billion by the end FY2023.
Source:The Express Tribune
June 16, 2023 18:20 UTC
Nation should be ‘fully expectant’ of voting in new govt by Nov 10: Khurram Dastgir
Power Minister Khurram Dastgir on Friday said Pakistanis should be expectant of voting in a new government by November 10, affirming that 2023 was an election year. Meanwhile, there have been divergent statements from the coalition government’s leaders regarding the holding of general elections in October. Recently, PPP co-chairperson Asif Ali Zardari had categorically said that the elections would only be held with his nod. Regarding Pakistan’s energy mix, he said no new energy generation facilities would be based on imported fuel such as oil, coal and gas. We are now focused on domestic sources of energy: solar, wind, hydel, coal and nuclear energy, he said.
Source:The Nation
June 16, 2023 18:16 UTC
Pakistan committed to good ties with India: FM Bilawal
However, Pakistan is committed to having cooperative and good-neighbourly relations with India, on the basis of mutual respect and sovereign equalities, he maintained. Bilawal said that Pakistan is committed to engagement through multilateral organisations including SCO, the UN and other multilateral organisations. “Pakistan is committed to forging good relations with all major powers. “In our view, the main driver for international relations should be cooperation, not confrontation. The minister said that Pakistan will continue to play its rightful role in the maintenance of international peace and security and advance the cause of sustainable development.
Source:Pakistan Today
June 16, 2023 17:03 UTC
US government agencies hit in global cyberattack
WASHINGTON-“Several” US federal government agencies have been hit in a global cyberattack that exploits a vulnerability in widely used software. A CISA spokesperson had no comment when CNN asked who carried out the hack of federal agencies and how many have been affected. But the news adds to a growing tally of victims of a sprawling hacking campaign that began two weeks ago and has hit major US universities and state governments. As of Thursday morning, the dark website did not list any US federal agencies. Progress, the US firm that owns the MOVEit software, has also urged victims to update their software packages and has issued security advice.
Source:The Nation
June 16, 2023 00:02 UTC
Four TTP terrorists held in joint Rangers-police operation in Karachi
KARACHI: In a joint intelligence-based operation, Pakistan Rangers and Sindh police arrested four members of Hizbul Ahrar, a group of banned outfit Tehreek-e-Taliban Pakistan (TTP), from Manghopir in Karachi. The accused identified as Qari Alamgir, Muhammad Zahid alias Qari, Muhammad Kashif alias Kashi and Muhammad Yousaf had been involved in extorting money from people, police said. Hand grenades and illegal weapons were also recovered from the possession of the accused, police added. The accused used to provide the cell phone numbers of businessmen and the videos of their houses, business places and transport to Muhammad Shoaib alias Jan Nisar, the commander of Hizbul Ahrar in Afghanistan. During the preliminary investigation, the accused revealed that Hizbul Ahrar commander Muhammad Shoaib alias Jan Nisar had also ordered them to set vehicles of various transporters on fire this month.
Source:Pakistan Today
June 15, 2023 22:01 UTC
4 TTP terrorists held in joint Rangers-police operation
KARACHI-In a joint intelligence-based operation, Pakistan Rangers and Sindh police arrested four members of Hizbul Ahrar, a group of banned outfit Tehreek-e-Taliban Pakistan (TTP), from Manghopir in Karachi. The accused identified as Qari Alamgir, Muhammad Zahid alias Qari, Muhammad Kashif alias Kashi and Muhammad Yousaf had been involved in extorting money from people, police said. Hand grenades and illegal weapons were also recovered from the possession of the accused, police added. The accused used to provide the cell phone numbers of businessmen and the videos of their houses, business places and transport to Muhammad Shoaib alias Jan Nisar, the commander of Hizbul Ahrar in Afghanistan. During the preliminary investigation, the accused revealed that Hizbul Ahrar commander Muhammad Shoaib alias Jan Nisar had also ordered them to set vehicles of various transporters on fire this month.
Source:The Nation
June 15, 2023 21:12 UTC
Curse of the carpetbaggers
This readily acquiescent commodity, known variously as the Carpetbaggers, the King’s Party and even electables, has hurt and demeaned Pakistan’s politics ceaselessly. This has been the most toxic norm(al) of our national politics for decades now. It is high time that the nation does away with the repugnant existence and role of Carpetbaggers. They have been abject failures in national politics and have been exclusively employed in noxious manipulative, destructive and disruptive roles. The supple, easily malleable Carpetbaggers jumped ship at the first signs of trouble and have unashamedly reached out for more “promising” shores.
Source:The Nation
June 15, 2023 19:50 UTC
Tareen served notice for 'stealing' party’s name
Ishtehkam-e-Pakistan Tehreek has sent a legal notice to Jahangir Khan Tareen and Aleem Khan for stealing the name of their party. A legal notice has been sent to Tareen and Aleem, the patron-in-chief and president of the newly formed party, respectively, by Ahmed Kaleem for stealing the name of the party. The legal notice states that the Istehkam-e-Pakistan Tehreek was registered on May 17, 2022, and stealing the name of the pre-existing party is a clear violation of the Election Act 2017. The legal notice sent to Tareen and Aleem gives seven days to them to suggest another name for their party which is in line with their personal ideology. The legal notice also said that Istehkam-e-Pakistan Tehreek is not a party but an ideology with the slogan – stabilisation of Pakistan.
Source:The Express Tribune
June 15, 2023 16:38 UTC
Banks reluctant to give affordable loans
PHOTO: FILEBusinessmen have raised concerns about the reluctance of commercial banks to provide loans to the private sector at interest rates lower than 24%, attributing this issue to the prevailing 21% key policy rate in the country. In addition to the 21% policy rate, banks also charge additional profits ranging from 2% to 3%, according to Ismail Suttar, President of the Lasbela Chamber of Commerce and Industry. Speaking to the Express Tribune, Suttar highlighted that these exorbitant interest rates are unsustainable for industries, particularly in the current highly competitive market. The State Bank of Pakistan (SBP)’s Monetary Policy Committee (MPC) recently decided to maintain the policy rate at 21%, despite the significant slowdown in economic activity. Private sector credit has also plummeted, leading to a record low investment as a percentage of GDP.
Source:The Express Tribune
June 15, 2023 16:32 UTC
Shell is exiting Pakistan. What does it mean and what could the transaction look like?
Shell Petroleum, one of the world’s preeminent oil and gas conglomerates, has declared its intention to relinquish its stake in Shell Pakistan, its subsidiary in the nation. The decision, the company insisted, “was not made frivolously.” It is now looking to sell more than 77% of its shares in Shell Pakistan. Instead, the global headquarters of Shell is selling their stake in the company that is Shell Pakistan. The first is that Shell has been wanting to leave Pakistan for years as it is. But we also know that the oil giant has been unhappy being in the Pakistan market for the last decade.
Source:The Nation
June 15, 2023 08:42 UTC
US method to lawfully punish
The Prime Minister during his recent address at Karachi said ” Pakistan would apply US methods to lawfully punish May 9 arsonists”. The US Constitution was written in 1787 and has been in operation since 1789. Like the USA, Pakistan has a written constitution that must be respected and protected. Like the USA, Pakistan has a written constitution that must be respected and protected. The state derives its power from the Constitution, which cannot be trampled om, otherwise the consequences can be disastrous.
Source:Pakistan Today
June 15, 2023 05:33 UTC
Pakistan on tenterhooks as cyclone makes landfall today
PHOTO: REUTERSAs expected, powerful tropical cyclone Biparjoy slightly nudged towards northeast on Wednesday, sparing the metropolis of Karachi from its hit, and kept on barrelling towards the India-Pakistan border to make the landfall on Thursday (today). Climate Change Minister Sherry Rehman said that because of evolving nature of the cyclone, the landfall was expected in the morning, against the earlier forecast of the landfall in the afternoon. According to the latest alert issued by the Pakistan Meteorological Department (PMD), the cyclone moved closer to Sindh’s coast. According to the PMD, cyclone Biparjoy – the name means ‘disaster’ in Bengali language – has reached within the distance of 300kms in south-southwest of Thatta, 240kms south-southwest of Keti Bandar and 280km from India’s Jakhau port. Read more Cyclone Biparjoy leaves fishermen unemployedHub and Lasbela districts of Balochistan’s could also witness dust and thunderstorm-rain and isolated heavy falls during this time, the forecast said.
Source:The Express Tribune
June 15, 2023 04:46 UTC