PPIB unanimously decides withdrawal of all suits against IPPs
ISLAMABAD: The Private Power Infrastructure Board (PPIB) has unanimously decided withdrawal of all suits, applications, petitions against the Independent Power Producers (IPPs) subject to simultaneous withdrawal of all proceedings, applications and writs filed by the IPPs against PPIB. The PPIB, while considering the recommendations of a project committee, took this decision unanimously in its 138th meeting held on March 16, 2023 under the chairmanship of Secretary, Ministry of Energy (Power Division). Therefore, IPPs claimed that they were ‘deemed available’ under their respective PPAs and NTDC was not entitled to deduct capacity payment thereunder. This triggered a series of litigation and London Court of International Arbitration (LCIA) arbitration before various courts/forums. Considering recommendations of the project’s committee, the Board unanimously decided to approve withdrawal of all suits, applications, petitions by Government of Pakistan (GOP)/PPIB against the IPPs subject to simultaneous withdrawal of all proceedings, applications and writs filed by the IPPs against GoP/PPIB in respect of disputes whether through a joint statement or otherwise as deemed appropriate, said documents.
Source:Pakistan Today
April 07, 2023 23:31 UTC
Founder of banned Baloch National Army arrested: ISPR
The leader and founder of the banned Baloch National Army (BNA), Gulzar Imam alias Shambay, was arrested in a high-profile intelligence-based operation by the security forces, said a statement from the Inter-Services Public Relations (ISPR) on Friday. The 'high-value target' has been a "hardcore militant as well as founder and leader of the banned outfit Baloch National Army (BNA) which came into being after the amalgamation of Baloch Republican Army (BRA) and United Baloch Army (UBA)", read the statement. Gulzar also remained as "deputy to Brahamdagh Bugti in Baloch Republican Army (BRA) till 2018 and was instrumental in the formation of Baloch Raji Aajoi Sangar (BRAS) and remained its operational head", according to the statement. Read Baloch exiled leaders, militants urged to hold talks"His visits to Afghanistan and India are also on record; his linkages with Hostile Intelligence Agencies (HIAs) are being investigated," ISPR added. It further stated that hostile intelligence agencies "tried to exploit Gulzar Imam to work against Pakistan and its national interests".
Source:The Express Tribune
April 07, 2023 21:05 UTC
ChatGPT maker to propose remedies over Italian ban
ChatGPT producer OpenAI plans to present measures on Thursday to remedy concerns that led to an Italian ban on the chatbot last week, Italy's data protection agency Garante said. Microsoft Corp-backed OpenAI took ChatGPT offline in Italy after Garante last week temporarily restricted it and began a probe into a suspected breach of privacy rules. The agency last week accused OpenAI of failing to check the age of ChatGPT users and the "absence of any legal basis that justifies the massive collection and storage of personal data". The company said it would send Garante a document regarding measures to respond to its requests on Thursday. In February, Garante banned AI chatbot company Replika from using the personal data of Italian users, citing risks to minors and emotionally fragile people.
Source:The Express Tribune
April 07, 2023 19:51 UTC
Nation remembers Gayari sector martyrs on 11th anniversary
Today (Friday) is marked as the eleventh anniversary of the Gayari tragedy to remember those who accepted martyrdom in the terrible avalanche close to the Siachen Glacier region. A significant ice avalanche on April 7, 2012, slammed a Pakistani military headquarters at Gayari, 30 km west of the terminal of the Siachen Glacier. The Gayari base, one of the most significant Pakistani bases in the region, is situated in a deep valley at a height of 3,775 meters (12,385 ft) above sea level. Lt Colonel Tanveer was in charge of the Northern Infantry Battalion in the Gayari Sector. One of the most significant Pakistani bases in the region is Gayari.
Source:The Nation
April 07, 2023 07:09 UTC
Are the shadows looming longer?
However, though the ECP issued the schedule as it had been instructed to, by the Supreme Court, it still did not seem that the elections would take place on time. The Supreme Court order did not tie in either the funding or security for the election, apart from ordering the government to do the needful. That leaves the Prime Minister open to a charge of contempt of court, if he does not make the arrangements. The most obvious issue is that PTI chairman Imran Khan has not got what he demanded initially, national elections. However, the PTI has not lost much compared to the judiciary, or rather the Supreme Court, which has had its internal divisions thoroughly exposed.
Source:Pakistan Today
April 07, 2023 00:35 UTC
Should Pakistan establish trade ties with Israel?
While there has been talk in recent years of improving ties between the two nations, Pakistan should not establish trade ties with Israel. Establishing trade ties with Israel would be seen as a betrayal of Pakistan’s long-standing support for the Palestinian people. Furthermore, there is little evidence to suggest that establishing trade ties with Israel would bring any significant economic benefits to Pakistan. Moreover, there are already many other countries with whom Pakistan can trade and establish economic ties, making the need for trade with Israel unnecessary. While it is important for Pakistan to maintain an open and engaged foreign policy, establishing trade ties with Israel would be a step too far.
Source:Pakistan Today
April 06, 2023 19:11 UTC
Investors withdraw $190m in Feb
PHOTO: National Savings WebsiteInvestors in Pakistan have been aggressively withdrawing investments from various national saving schemes due to significantly low rates-of-return (RoR) compared to the ones offered by banks on fixed investments. The rate of return has become uncompetitive… it has gone dead.”Additionally, the government also deducts 30% tax on profit from the saving schemes from non-filers, he said. This is the third consecutive year in a row in which investors are pulling capital from saving schemes. The outstanding investment in prize bonds, however, improved to Rs381.5 billion ($2.2 billion) in February 2023, compared to Rs373.4 billion ($2.1 billion) in February 2022. The government is now under pressure to offer more attractive RoRs to savers in order to keep them invested in national saving schemes.
Source:The Express Tribune
April 06, 2023 17:53 UTC
Centre spends ‘Rs710b’ on devolved ministries
Before the devolution, the federal government was spending 0.39% of the GDP on the 17 ministries that were subsequently devolved to the provinces under the 18th Amendment in the Constitution. In its recent publications, the World Bank has advised the federal government to realign its expenses only to those subjects, which under the Constitution were its responsibility. The World Bank findings also showed how the rich class was availing subsidies meant for the impoverished people in Pakistan. The World Bank has also pointed fingers towards sales tax exemptions being given to affluent groups that were heavily costing the compliant taxpayers. If the Rs5 million GST registration threshold is removed, the collection potential will jump to 6.53% of the GDP, according to the World Bank.
Source:The Express Tribune
April 06, 2023 17:37 UTC
On Imran Khan’s call, Thanksgiving day across the country IV News
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Source:The Nation
April 06, 2023 11:44 UTC
Fifty years of Cheating the Constitution
On 14 August 1973, after enactment of the unanimously agreed document unwavering compliance was expected yet the cheating has continued unabated. Despite the passage of the Constitution in 1973, the Secretary had the audacity to send this document to me in 2004. This cheating of the constitution must be brought to an end enabling the Islamic Republic of Pakistan to rise. Now that he has been seriously harmed by the very system in which he works, it is time for a massive operation clean-up of the 1973 Constitution to restore it to its original form. This cheating of the constitution must be brought to an end enabling the Islamic Republic of Pakistan to rise.
Source:Pakistan Today
April 06, 2023 06:08 UTC
SBP hikes policy rate by 100bps to record high of 21%
Pakistan's central bank has hiked its benchmark policy rate by 100 basis points to new record high at 21% on Tuesday, saying the action was a must to anchor the elevated inflation reading. Earlier, the central bank had estimated economic growth blow 2% for the current fiscal year 2023, it was learnt. The increase in the policy rate was well in line with the market expectation for 100-200 basis points surge. The central bank noted that "the surge in inflation was broad-based, though a large part of it was contributed by food and energy components. On the other hand, experts viewed the central bank has increased the rate on the IMF recommendation to resume its $6.5 billion loan progrmme.
Source:The Express Tribune
April 05, 2023 03:32 UTC
Third generation of Bhutto family awaits SC justice: Bilawal
"I appeal to the Supreme Court that the presidential reference sent on April 2, 2011 should be fixed for early hearing," says Foreign Minister Bilawal Bhutto Zardari. PHOTO: FileForeign Minister and Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari has termed the “judicial murder of first elected prime minister of Pakistan Shaheed Zulfikar Ali Bhutto” as a black spot on the justice system of the country, saying that now the third generation of the Bhutto family is awaiting justice from the Supreme Court. “During these 4,382 days, our justice system did not have even a minute to listen to Bhutto Shaheed's plea. How many more generations of the Bhutto family will have to wait to get justice?" Paying glowing tribute to the “Quaid-e-Awam”, Bilawal said that under the prudent leadership of Bhutto, Pakistan crossed many milestones in political, diplomatic, economic, defense and social terms.
Source:The Express Tribune
April 04, 2023 16:57 UTC
Scotland's Yousaf thanks people of Punjab for felicitations
— Humza Yousaf (@HumzaYousaf) March 27, 2023Scotland's parliament confirmed Humza Yousaf as the new first minister on Tuesday, the day after he narrowly won the contest to succeed Nicola Sturgeon as Scottish National Party (SNP) leader, reported AFP. Born in Glasgow in 1985, Yousaf is the son of Pakistani immigrants who settled in Scotland in the 1960s. Throughout his political career, Yousaf had been a strong advocate for social justice, equality, and human rights. This award was one of the highest civilian honours in Pakistan, reflecting the significant impact Yousaf had on bilateral ties. As a British Pakistani, Yousaf might bring a unique perspective and understanding of the region, which could result in a more collaborative and nuanced approach to foreign relations.
Source:The Express Tribune
March 29, 2023 05:41 UTC
Pakistanis, Indians are now going to war over who owns Manchurian
The dish is said to be a fusion of Indian and Chinese cooking styles, with Chinese flavours adapted to suit the Indian palate. “The stalwart of Pakistani Chinese Cooking means Pakistani chefs are cooking this dish for decades too,” read a tweet. The stalwart of Pakistani Chinese Cooking means PAKISTANI CHEFS are cooking this dish for decades too. And chicken Manchurian, of course.”In a way, Pakistanis invented India itself, otherwise it would have remained a bunch of petty principalities. And chicken manchurian, of course.
Source:The Express Tribune
March 28, 2023 21:56 UTC
IMF's $15.6b loan to Ukraine will be first to a country at war
The global lender has now even struck down its own rules to assist Ukraine—providing financing to a country at war. War poses a risk to the lender, including the IMF, and so they have not done that. Now, Ukraine was not mentioned at all in this rule change, but clearly, it is targeted for exactly this loan,” added the professor. The IMF's loan package for Ukraine aims to support the country's efforts to stabilise its economy and improve its fiscal position amid the ongoing war with Russia and its supported separatists in its eastern region. And so, you know, the usual criticism is that it's a Western country, unlike a country, say, in South Asia."
Source:The Express Tribune
March 27, 2023 23:02 UTC