Let it rain
The Government of Pakistan (GoP) ascribed the floods and the following destruction to global warming and accompanying climate change. The government, while soliciting international aid, argued that despite contributing less than one percent of global greenhouse gas emissions, Pakistan has a high vulnerability to climate change effects. In 2022 United Nations Climate Change Conference or Conference of the Parties (COP) was held from November 6 until November 20, 2022, in Sharm El Sheikh. Pakistan put forward its point of view on the effects of climate change, and how it’s affecting the environment, especially in developing countries. Else, we could expect another déjà vu in the coming monsoons: let it rain, let it rain.
Source:The Nation
June 09, 2023 22:16 UTC
Cabinet approves 30% increase in salaries of govt officials
According to Express News, minutes after Prime Minister Shehbaz Sharif addressed the federal cabinet and gave an impassioned speech about the impact of inflation on the masses – especially the salaried class – the cabinet approved a 30% increase in salaries of government employees. Commenting on the International Monetary Fund (IMF) programme, the premier maintained that the incumbent government has met the IMF’s major conditions. The premier maintained that Pakistan was "thankful" for the $3 billion financing commitments from friendly countries. The fate of Pakistan’s struggling economy hangs on the upcoming budget as the nation grapples with a severe crisis. To secure much-needed bailout funds, the government must satisfy the IMF, while also preparing for an impending general election scheduled for November.
Source:The Express Tribune
June 09, 2023 20:40 UTC
Is Pakistan a victim of debt diplomacy?
He is also the author of Development, Poverty, and Power in Pakistan, available from RoutledgePakistan’s external debt stock of over $125 billion dollars has brought it to the brink of default. It became the recipient of IMF and World Bank loans back in the 1950s. The World Bank and IMF have provided Pakistan billions of dollars in loans till date. In less than a decade, China has become a major external lender for Pakistan, and around 30% of Pakistan’s external debt is now owned by Chinese banks. However, it is unfair to describe Chinese aid as debt diplomacy, when the US grants and US-backed IMF and World Bank loans have also been used to exert influence over Pakistan, and over many other resource-constrained countries around the world.
Source:The Express Tribune
June 09, 2023 12:05 UTC
CTP issues 25,000 challans over helmet violations
MULTAN - City Traffic Police (CTP) issued 25,000 challan tickets to motorcyclists over violations of helmet during a special crackdown started from January 2023 in the city. Taking serious notice of the maximum head injuries in road accidents of motorcycles in the city, the city traffic police decided to launch a special campaign against helmet violations and took action against 25,000 violators. The CTP started the special crackdown from January during which 25,000 challans have been issued over helmet violations and 24,000 challans have been issued over violations of license while 1,500 motorcycles have also been impounded during the ongoing crackdown. Chief Traffic Officer (CTO) Muhammad Naeem Shahid said that ratio of head injuries have been reduced due to the crackdown against helmet violators. He said that use of helmet was being made compulsory and would be implemented strictly under the vision to protest public lives.
Source:The Nation
June 09, 2023 10:15 UTC
Poliovirus detected in environmental sample in Karachi
Health department officials verified that the sewage sample was obtained on May 15 from Sohrab Goth, which serves as an environmental sample collection site. They further revealed that this marks the first positive environmental sample from the Karachi division this year. “This is the first positive environmental sample from Karachi division of the year so far,” they confirmed. The last positive sample from the Karachi division was collected in August 2022 from the Landhi area, the environmental sample collection site located in Malir district. Soomro also mentioned that the environmental sample is suspected to have links with Afghanistan and has been sent to Atlanta, USA for further authentication.
Source:The Express Tribune
June 09, 2023 06:22 UTC
Pakistan to leave 21% policy rate unchanged: analysts
Pakistan's central bank is widely expected to keep its key interest rate unchanged at 21% on Monday after aggressive rate hikes since April last year to tackle record-high inflation amid the nation's worst-ever economic crisis. The country's key rate has been raised by a massive 1125 basis points (bps) since April 2022 and 17 of 18 analysts surveyed said there would be no change in the key rate on Monday, while one expects a 100 bps hike. Most analysts agreed that with inflation peaking and global commodity prices coming down, there was no urgent need to hike interest rates yet again. These measures include raising taxes and removing blanket subsidies and artificial curbs on the exchange rate. For the individual poll responses, see table below:Reuters table
Source:The Nation
June 09, 2023 05:19 UTC
Telecom industry is the key to the nation’s prosperity
Ahsan elaborated on how heavy taxation is hampering growth not only for the Telecom sector but also for Digital, IT, and other related industries. “Pakistan has about 60% of its population in the 15-29 age group, representing enormous human and knowledge capital. Immediate facilitation by the Government of Pakistan, along with a long-term policy framework, will stabilize the Telecom sector and contribute to the overall economic infrastructure of the country. Pakistan has an opportunity to become the hub of IT and Digital industry exports for this it needs consistent, reliable, strong, and affordable Telecom services. Government must review its taxation policy for the Telecom industry.
Source:The Nation
June 09, 2023 03:44 UTC
WEA Member Benefits Launches Innovative Online Term Life Insurance Platform for Nation's Public Education Market
WEA Member Benefits logoIn a strategic partnership with Haven Life, WEA Member Benefits now offers PK-12 public school employees across the nation the ability to purchase Haven Life's accessible term life insurance products. Haven Life, a digital life insurance agency fully owned and supported by Massachusetts Mutual Life Insurance Company (MassMutual, AM Best rating of A++), is renowned for its long-standing history, customer-centric approach, and unwavering commitment to providing superior service. David Kijek, President and CEO of WEA Member Benefits, expressed his enthusiasm about this innovative collaboration, stating, "Member Benefits was created by Wisconsin's public school employees for Wisconsin's public school employees over fifty years ago. About Haven LifeHaven Life Insurance Agency, LLC (Haven Life) is re-thinking how people financially protect the ones they love. Haven Term is a Term Life Insurance Policy (ICC21 HAVEN TERM in certain states, including NC; HAVEN TERM CA21 in California) issued by C.M.
Source:The Nation
June 09, 2023 00:43 UTC
CTD arrests TTP operative in Karachi
KARACHI-The Counter-Terrorism Department (CTD) of Sindh police on Thursday claimed to have arrested an active operative of banned Tehreek-e-Taliban Pakistan (TTP) from Karachi. As per details, the CTD team raided Rehri Goth, located in Ibrahim Hyderi, Karachi and arrested an active operative of the TTP named Ghulam Nabi. The initial integration revealed that the TTP operative was to visit Afghanistan for training. Separately on June 1, Counter-Terrorism Department (CTD) arrested a militant working for international handlers in Karachi. The Counter-Terrorism Department (CTD) has completed the investigation of the arrested terrorist, who made significant revelations.
Source:The Nation
June 08, 2023 21:36 UTC
Landon Robinson looking to alumni to bring excitement back to Clay Chalkville Baseball
By Johnny Sanders, Sports EditorCLAY – Clay Chalkville Cougars Head Baseball Coach Landon Robinson is looking to bring the winning ways back to the baseball program in Clay, Alabama and he is using both future players and past players to garner as much interest in the program as he can. The Cougar baseball program has been through some tough times since their last playoff appearance in 2016. Robinson knows the potential that the Cougars have on the field and he believes that they can get back to the glory days of Clay Chalkville Baseball. “Clay Chalkville Baseball has a rich past with a lot of good teams from the early 2000s and through 2020 with many players making it to the next level. We are excited to welcome back some of those guys to kick off the first annual CCHS baseball alumni softball game.
Source:The Express Tribune
June 08, 2023 19:29 UTC
Plan to raise $2b via Eurobonds
The government is planning to raise $2 billion through floating Eurobonds in the next fiscal year, as its foreign loan disbursement projections remain fluid in the absence of an International Monetary Fund (IMF) deal. The estimate of $6.2 billion does not include any inflows on account of Eurobonds, commercial loans, and the IMF loan. Sources in the Ministry of Finance said that the government was again considering raising $2 billion through Eurobonds during fiscal year 2023-24. For the next fiscal year, the finance ministry is working on two scenarios,with IMF and without IMF projections of foreign inflows. Likewise, the country had received $579 million from the Asian Infrastructure Investment Bank (AIIB) in the current fiscal year.
Source:The Express Tribune
June 08, 2023 08:21 UTC
St. Clair County Sheriff’s office hosting charity softball tourney in Moody
By Chase Holmes, News ReporterMOODY – The St. Clair County Sheriff’s office is hosting the first annual law enforcement charity softball tournament at Moody City Park on Saturday, June 17. The event is being held to raise money for the local child advocacy center, The Children’s Place. The event will feature softball teams comprised of local law enforcement teams from all over St. Clair County coming together for a fun afternoon to support children in the local communities of St. Clair. Juana Corbin, Public Information Officer for St. Clair county, is excited to see the community come together. “This is a community event.
Source:The Express Tribune
June 08, 2023 07:35 UTC
Govt may amend law to bring in dollars
Sources told The Express Tribune that the government is considering bringing an amendment to Section 111 (4) of the Income Tax Ordinance that deals with unexplained income. A few years ago, the then government had reduced the limit from Rs10 million to Rs5 million to reduce the chances of converting black money into white money. The sources said there is a proposal to replace “Rs5 million” with “$100,000” in the relevant section. At the current rupee-dollar parity, Rs5 million are equal to $17,500 while $100,000 are equal to Rs29 million. Any such move to relax the Rs5 million foreign remittances without disclosing the source of income will be treated as an amnesty.
Source:The Express Tribune
June 08, 2023 07:20 UTC
Japan takes 1st step to release nuclear waste into ocean
Despite mounting pressure, Japan has begun injecting seawater into a drainage tunnel of the crippled Fukushima Daiichi Nuclear Power Plant as a first step to release treated radioactive wastewater into the ocean. Japan plans to release treated radioactive wastewater into the ocean, triggering opposition and concerns from local fishing communities and neighboring countries. "The harm caused by the discharge of nuclear water into the sea is immeasurable," China's diplomatic mission in Japan said in a statement. "Once filled with seawater, the tunnel will guide treated water from the plant to a point about 1 kilometer offshore." The water release system is nearing completion, with the exception of a reservoir that will store treated water prior to its release.
Source:The Express Tribune
June 08, 2023 00:15 UTC