Thursday, February 29, 2024

Court issues notices on Imran, Bushra appeals

A judge at the Islamabad district and sessions court on Thursday issued notices to the relevant parties on the appeal filed by the Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan and his wife Bushra Bibi against their conviction in a case of marriage during the 'Iddat period'. Shahrukh Arjumand heard preliminary arguments from Imran and Bibi’s lawyer Salman Akram Raja, who told the court that Imran and Bibi wedded in Lahore but the case was filed in Islamabad. He added that an application about the jurisdiction had been filed but no hearing was conducted. Raja told the court that the case of Iddat was tried under Section 496 of the Pakistan Penal Code. According to case, he continued, Bibi’s first husband Khawar Manika divorced her in November 2017 and she married Imran on January 1, 2018. Read also: Imran, Bushra's 'illicit relations' began in 2014 sit-in: Maneka He added that according to the case, Bibi married to the PTI founder 48 days after the divorce. Bibi's lawyer, Usman Gul, told the court that according to a Supreme Court judgment, marriage could take place after 39 days of divorce. He added that the couple got married after about 70 days. Raja added that the PTI founder wanted to give evidence in his defence but the court deprived him of the right to defence. He also said that as per the Supreme Court, if a woman gives the statement that the Iddat period has been completed, it would be accepted. According to Raja, Manika admitted to the media that Bibi was a religious woman. And almost six years later, the lawyer continued, Manika filed the complaint against Bibi and the PTI founder. After hearing the arguments, the court adjourned the proceedings until March 11 after issuing notices.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/LT6YJZv

Pakistan’s basmati rice exports surge as India’s to fall

India's basmati rice exports are likely to fall in 2024 after nearing a record high last year, as rival Pakistan is offering the grain at competitive prices amid a rebound in production, industry officials said. Pakistan and India are the leading exporters of the premium long-grain variety of rice, famous for its aroma, to countries such as Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates, and the United States. India's exports of basmati rice surged 11.5% from a year earlier to 4.9 million metric tons in 2023, just shy of the record high of 5 million tons hit in 2020, on lower supplies from Pakistan and stocking efforts by importing countries, industry officials said. Basmati rice shipments helped the world's biggest rice exporter to garner a record $5.4 billion in 2023, up nearly 21% from the previous year, because of higher prices, government data showed. "Last year, buyers were hustling to stock up when Pakistan was facing production issues. This year, however, Pakistan offers lower prices than India due to increased production," Vijay Setia, a leading exporter based in Haryana state of India, said. Islamabad's total rice exports could jump to 5 million tons in 2023/24 financial year, up from the last year's 3.7 million tons, Chela Ram Kewlani, chairman of Rice Exporters Association of Pakistan (REAP) said last month. The depreciation of the Pakistani rupee has made Pakistan's exports more competitive, according to Akshay Gupta, head of bulk exports at KRBL Ltd (KRBL.NS), opens new tab. Read also: Rice exports surge by 95.26% Meanwhile, lower export demand amid an estimated 10% rise in India's basmati rice production has started pulling down basmati prices in that country, said Gupta. Iran, the biggest buyer of Indian basmati rice, slashed purchases by 36% in 2023, but higher shipments to Iraq, Oman, Qatar, and Saudi Arabia offset the shortfall, according to data compiled by India's Ministry of Commerce and Industry. Indian exports had lost momentum in September and October as the government imposed minimum export price (MEP) on basmati rice, but they quickly recovered, said a New-Delhi-based exporter. In August, India imposed the MEP on basmati rice shipments at $1,200 per ton, exceeding prevailing market rates, before lowering it to $950 in October. However, exports began faltering again in January, and may decline further in the near term as buyers delay purchases due to increased freight costs caused by disruptions in shipping via the Red Sea, exporter Vijay Setia said. "Buyers are holding ample inventory; there's no need for them to rush," he said.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/JgC86Zu

Wednesday, February 28, 2024

Police devise ‘foolproof’ strategy

With Rawalpindi set to host nine PSL matches starting from March 2, the district police have devised a security plan to keep the garrison city from terror attacks. Out of the nine matches, three of them will take place during the day and six at night. A meeting chaired by Rawalpindi CPO Khalid Hamdani was held to review security arrangements. Pakistan Army and other law enforcement agencies will assist the police to keep the teams and spectators from security threats. Moreover, the metro bus service between the twin and traffic on Murree Road will be partially suspended during the matches. Meanwhile, Rawalpindi Commissioner Engineer Aamir Khattak visited Rawalpindi Cricket Stadium to review the arrangements for PSL matches. Rawalpindi Deputy Commissioner Hasan Waqar Cheema, Additional Deputy Commissioner General Mujahid Abbas, and heads of all administrative departments were also present during the visit. Read: Over 20,000 cops to guard PSL venues It was informed during the briefing that the PSL matches will be played in Rawalpindi from March 2 to March 10. The commissioner said the food street near the cricket stadium will be reopened on March 11. Furthermore, 100 Rawalpindi Waste Management Company (RWMC) officials will fulfil their responsibilities to clean the cricket stadium during the PSL matches and all arrangements will be finished by February 29, the Rawalpindi commissioner stated. A control room is also being set up to oversee all arrangements in Shahbaz Sharif Sports Gymnasium. Car parking will be available at Satellite Town College and the open space at Rawal Park. Additionally, a shuttle service will transport the audience from the parking areas to the cricket ground entrance. Likewise, impenetrable security plans have been made for PSL. Security guards will be stationed at every entry point. Published in The Express Tribune, February 29th, 2024.

from Punjab News Updates and Insights - The Express Tribune https://ift.tt/M8LXoPr

Six terrorists killed in North Waziristan operation

Security forces on Wednesday carried out a meticulously planned intelligence-based operation (IBO) in Khyber-Pakhtunkhwa’s North Waziristan district, targeting reported terrorist hideouts, the military said in a statement. According to the military’s media wing Inter-Services Public Relations (ISPR), a fierce exchange of fire erupted between the security forces and the terrorists during the operation, resulting in the neutralisation of six terrorists. Read more: Tribal elders laud Pakistan Army’s efforts in war against terror The statement said that one soldier sustained injuries in the line of duty during the operation. The slain terrorists, who were actively engaged in a series of terrorist activities including target killings, extortion, and abduction of innocent civilians, were found in possession of a cache of weapons, ammunition, and explosives. Following the successful operation, the security forces have launched a sanitisation operation to root out any remaining terrorist elements in the area.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/A5Z4VbC

Tuesday, February 27, 2024

Senators Bugti, Ahmedzai submit resignations

Senators Sarfraz Bugti and Prince Umar Ahmedzai resigned from the Senate after winning the Balochistan Assembly constituencies in the general elections held on Feb 8. Former caretaker Federal Interior Minister Bugti submitted his resignation to Senate Chairman Sadiq Sanjrani, which he accepted. Similarly, Balochistan Awami Party Senator Prince Umar Ahmedzai also resigned from the Senate after winning the provincial assembly seat. Prince Ahmedzai submitted his resignation to the Senate chairman and he also accepted it. Read also: Bugti ‘steps down’ as interim interior minister Bugti and Ahmadzai will take oath in the Balochistan Assembly as members. Bugti had secured 52,485 votes from PB-10 constituency and defeated Ghohram Bugti of Jamhoori Watan Party, who had secured 25,773 votes. While Ahmadzai defeated Sardar Ahmad Khan Shahwani of the Jamiat Ulema-e-Islam Pakistan by getting 4,638 votes in PB-46 constituency.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/NFlTmQf

Mengal decries denial of reserved seats

Sardar Akhtar Mengal, the president of the Balochistan National Party (BNP-Mengal), on Tuesday decried the political developments in the wake of general elections, especially the denial of reserved seats in the National Assembly, saying someone else was reaping the fruits of someone else's hard work. The BNP chief reflected on the ongoing political scenario, remarking that this election marked not his first but the 12th. "New things come up in every election.” He pointed out that those who were currently in the government had previously been allies, and those in the opposition had also shared friendly relationships. Expressing disillusionment with the prospect of finding a solution to Balochistan's problems, Mengal commented: "I have no hope from anyone who can cure the problems and difficulties of Balochistan." Read also: PML-N, PPP win most of reserved seats in Balochistan He said if there was a third place in the National Assembly, he would have occupied it. Mengal asserted his stance on the significance of reserved seats, labelling the denial of a reserved seat as abuse. The BNP chief asserted that elected individuals had the rightful claim to reserved seats, and their participation in the inaugural session of the National Assembly should be acknowledged. Highlighting a growing concern, Mengal stated: "The right to vote is being taken away from them." He raised the possibility that one of the reserved seat holders might contend for the positions of speaker, deputy speaker, or even prime minister, emphasising that depriving them of this right would be unjust.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/v0JXYsp

Reserved seats: ECP combines SIC petitions, defers hearing till Wednesday

The Election Commission of Pakistan (ECP) combined all petitions related to minority and women reserved seats of Sunni Ittehad Council (SIC) on Tuesday and postponed the hearing until Wednesday. A four-member panel, headed by Chief Election Commissioner (CEC) Sikandar Sultan Raja and comprising members Nisar Ahmed Durrani, Shah Muhammad Jatoi, Babar Hassan Bharwana, and Justice (retd) Ikramullah Khan, heard the petition. Barrister Farogh Naseem represented Muttahida Qaumi Movement-Pakistan (MQM-P) leader Khalid Maqbool Siddiqui. Barrister Ali Zafar represented the SIC, stating they were there to secure their allocated seat. Azam Nazir Tarar from Pakistan Muslim League-Nawaz (PML-N) and Farooq H. Naik from Pakistan Peoples Party (PPP) represented their respective political parties. They emphasised that it is up to the commission to determine whether the SIC can secure reserved seat or not. Barrister Zafar emphasised that his party’s reserved seats cannot be claimed by anyone else, highlighting that the SIC has already submitted a petition to the ECP for the allocation of reserved seats. Read also: ECP to hear SIC reserved seats case today Barrister Gohar urged the bench to allocate reserved seats to the SIC. The CEC mentioned that the ECP has scheduled the applications for a hearing, and asked Zafar, if he is a party to all of these cases. Tarar countered by asking how independent members affiliated with the SIC, which failed to win even a single seat, could be granted reserved seats. He argued that these members, originating from a party rejected by the electorate, did not initially apply for reserved seats. Furthermore, given that the SIC is not recognised as a parliamentary party, questioning their entitlement to reserved seats. The CEC advised them to leave the matter of reserved seats to the Election Commission of Pakistan for decision. Barrister Zafar stated that they have not yet received copies of the applications and requested the commission to provide them the same. He assured that they would submit their response today. Naik urged the commission to convene and hear from all parties involved. Read: The reserved seats’ dilemma Barrister Gohar said that their opponents did not win a seat in Lahore and are asking for SIC’s seats. Tarar, responding to Barrister Gohar, suggested that they should reserve these comments for private discussion and the media outside the commission premises. Talking to the media later, Barrister Gohar said that the meeting of the National Assembly will be illegal until a decision is taken on reserved seats. The PTI chairman asserted that no assembly session can be held until the reserved seats are decided. He hoped that the decision of the ECP will be based on justice. Barrister Gohar stated that 86 MNAs-elect have joined the SIC, and the council has forwarded four applications to the ECP. He expressed hope that a decision to allocate minority and women reserved seats will be reached by Wednesday. Barrister Gohar disclosed that 90 MPAs elected in K-P and seven elected MPAs in Balochistan have joined the SIC, while 107 elected MPAs in Punjab have also pledged their support to the council.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/crUpHn6

Monday, February 26, 2024

NAB issues offer letters to 13 assistant directors

The Islamabad High Court (IHC) disposed of a hiring case on Monday after the National Accountability Bureau (NAB) informed the court that it had already issued offer letters to the aggrieved individuals. A petitioner had approached the capital’s high court after NAB declined to hire him and 12 other successful candidates as grade-17 assistant directors despite completing all formalities. NAB had also submitted a summary to the country's president, requesting the annulment of the new appointments. However, the president later declined to endorse the summary. During the hearing of the case presided over by Justice Babar Sattar of the IHC, NAB's Additional Prosecutor General Jehanzeb Bharwana submitted a response to the court. Read also: NAB refuses offer letters to FPSC candidates He stated that the court order had been implemented, and NAB had issued offer letters for the position of assistant directors. He further mentioned that a total of 13 offer letters had been issued, along with office memorandums. Muhammad Faheem, one of the successful candidates for the assistant director position, appeared before the court, and the court inquired about his satisfaction. The petitioner's counsel told the court that the offer letter did not mention the joining date. The NAB prosecutor said that the candidates were required to submit their documents by March 11, following which the joining process would commence. Subsequently, the court disposed of the case upon the issuance of offer letters.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/AuUjDeG

Sunday, February 25, 2024

Opposition determined to not give SIC walkover in K-P Assembly

Ahead of the upcoming elections for key positions in the Khyber-Pakhtunkhwa Assembly, opposition parties have announced their intent to field candidates for the roles of chief minister, speaker, and deputy speaker. The decision was reached in a meeting, during which the opposition parties vowed to reveal their nominees before the maiden assembly session scheduled to be held on February 28 (Wednesday) for the oath-taking of the newly elected members. With a combined strength of 25 members in the provincial legislature, the opposition parties are gearing up to contest against the Sunni Ittehad Council (SIC), which boasts more than 80 members. Despite the numerical advantage of the SIC, the opposition is determined to compete for the positions of chief minister, speaker, and deputy speaker. The attempts to clinch the coveted slots come as the scenario in the provincial assembly shifted drastically when out of the total 115 general seats, a substantial 91 were clinched by independent candidates, with a predominant affiliation to PTI. Read also: K-P Assembly may meet on Feb 27 Notably, 87 of these independent winners, previously aligned with PTI, have joined the SIC, a party that failed to secure any general seat in the provincial legislature. Should the ECP rule in favour of the PTI, nearly all the reserved seats are poised to be allocated to the SIC. Nevertheless, observers reckon that if the ECP determines that these seats are ineligible for distribution among independents who are mandated to join only parties with legislative representation, a substantial constitutional crisis could emerge. Meanwhile, sources within the opposition reveal that the strategic move aims to thwart any attempts by SIC candidates to secure unopposed victories. Before the assembly session, the opposition plans to hold a meeting to finalise the nomination of their leader and discuss potential candidates for the three crucial positions. The goal is to present a consensus candidate who can represent the collective stance of the opposition. Insiders said the opposition is committed to not conceding ground to the SIC. However, in the event of any communication or negotiation with the SIC, decisions will be made based on the prevailing circumstances through a consultative.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/gbdvW5p

Saturday, February 24, 2024

X platform disrupted in Pakistan for full week

Nationwide disruption to social media platform X passed the one-week mark in Pakistan on Saturday, with digital rights monitors warning outages were quashing dissent after an election marred by rigging claims. The platform, formerly known as Twitter, was downed last Saturday after a senior government official made a public admission of vote manipulation in the February 8 poll. Over the past week, it has been operational only intermittently, with access varying depending on the internet service provider. "Pakistan's directed use of network shutdowns and restrictions to overtly target political parties and the reporting of election irregularities is unprecedented," Alp Toker of the NetBlocks web watchdog told AFP. AFP staff reported that X remained disrupted in the capital Islamabad as well as the megacities of Lahore and Karachi on Saturday. Read also: Freedom Network demands restoration of X, slams caretaker govt Pakistan's telecommunication authority declined to comment while the interior ministry did not respond to a request for comment. Jailed former prime minister Imran Khan's Pakistan Tehreek-e-Insaf (PTI) party called for nationwide protests after the admission of vote-rigging last week. "Protesting political parties have actively been using X for freedom of expression, access to information, to assemble online and for other associated rights," said web monitor Bytes for All. The disruption "restricts citizens' ability to engage in online discourse, share information, and express dissenting opinions", the organisation wrote in a report published Friday. In the months leading to the polling day, PTI suffered a crackdown restricting canvassing and forcing candidates to run as independents. Read: X becomes govt's first target Its campaign moved mostly online where social media events were censored by numerous nationwide blackouts of X as well as Instagram, TikTok, Facebook and YouTube. Outages were blamed on "technical difficulties" by the government. Despite the restrictions, PTI-backed candidates gained more seats than any other party. But it has been unwilling to ally with rivals, paving the way for the military-backed Pakistan Muslim League-Nawaz (PML-N) to form a government. Mobile internet services were cut across the country on the election day, with the interior ministry citing security reasons. The blackout, coupled with a long delay in issuing voting results, gave rise to allegations of rigging.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/FG149Tg

Friday, February 23, 2024

PML-N, PPP win most of reserved seats in Balochistan

In the aftermath of the closely contested general elections in Balochistan, the Election Commission of Pakistan (ECP) on Friday distributed the reserved seats in the provincial assembly among six political parties. There are 11 reserved seats for women in the 65-strong provincial legislature. The highest number of seats, three each, were allocated to the Pakistan Peoples Party (PPP) and the Pakistan Muslim League-Nawaz (PML-N). They were followed by the Jamiat Ulema-e-Islam (JUI), two, and one each by the Balochistan Awami Party (BAP), the National Party (NP), and the Awami National Party (ANP). The three reserved seats for minorities were distributed equally among the PPP, the PML-N, and the JUI. According to the ECP notification, the three women to take seats in the Balochistan Assembly are Ghazala Gola, Meena Majeed, and Shehnaz Umrani. The PML-N members are Rahila Durrani, Kiran Haider, and Hadiya Nawaz. JUI’s Shahida Rauf and Sadia are the winners. The BAP nominee to reach the assembly is Farah Azim Shah, while Ume Kulsum will represent the NP and Salma Bibi will serve as the voice of the ANP, the ECP notification showed. The allocation of the reserved seats completes the provincial legislature, with both the PPP and the PML-N emerging as the two largest parliamentary groups. Now, the Balochistan Assembly is set to embark on its legislative journey, hoping to address the myriad of issues facing the province.  

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/yCwlmUx

Opposition parties unite in Sindh to protest against ‘election fraud’

In a joint press conference held in Karachi on Friday, the Grand Democratic Alliance (GDA), along with Jamaat-e-Islami (JI), Jamaat-e-Ulema-e-Islam-Fazl (JUI-F), Pakistan Tehreek-e-Insaf (PTI), and Muttahida Qaumi Movement-Haqiqi (MQM-H) announced plans to stage a protest outside the Sindh Assembly on Saturday. The announcement was made by key leaders including JDA Chief Coordinator Sadruddin Shah Rashidi, JUI-F Sindh chief Maulana Rashid Soomro, JI Karachi chief Hafiz Naeemur Rehman, and PTI Sindh President Haleem Adil Shaikh. During the press conference, Rashidi asserted, "Our protest is against the bogus election because notes were used instead of votes." He emphasised that the peaceful struggle would persist until the return of the public mandate, noting the coalition's determination to challenge what they perceive as electoral malpractice. Read more: PPP, PML-N meet to fine-tune coalition in Balochistan Dr Safdar Ali Abbasi highlighted their rejection of the election results, citing successful sit-ins in Jamshoro and Moro as evidence of public discontent. He reiterated their commitment to peaceful means, stating, "We will protest against elections as per our legal and constitutional right." He added, "Our struggle is peaceful, not a stone has been hurled anywhere. We will protest against elections as per our legal and constitutional right. We are seeking new elections." Responding to questions, JI's Hafiz Naeem declared solidarity with the GDA, confirming their decision not to take oath alongside PTI members. He criticised the “distribution” of seats between the Pakistan Peoples Party (PPP) and Muttahida Qaumi Movement-Pakistan (MQM-P). Also read: After PPP, PML-N woos other coalition partners for govt formation PTI's Haleem Adil Shaikh echoed these sentiments, accusing the Election Commission of Pakistan (ECP) of complicity in "mandate theft." He stressed incidents of rigging and asserted PTI's legitimate claim to 22 National Assembly seats in Sindh. JUI-F's Rashid Soomro warned against obstructing the planned protest, holding the administration accountable for any resulting consequences. He recalled past protests with notable political figures and called upon supporters to mobilise for the upcoming demonstration. The decision to protest comes ahead of the Sindh Assembly session scheduled for February 24, where newly elected members are set to take oath.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/ucZVzFK

Thursday, February 22, 2024

Senate interior panel advances crucial bills

Senate Standing Committee on Interior on Thursday unanimously passed a bill to amend the Pakistan Penal Code, 1860 and the Code of Criminal Procedure, 1898 [The Criminal Laws (Amendment) Bill, 2024]. During the session, significant bills were discussed, reflecting the committee's commitment to legislative excellence and public welfare. Firstly, the committee unanimously passed the Criminal Laws (Amendment) Bill, 2024, with a notable emphasis on safeguarding the dignity of the deceased. The bill also proposed an increase in fines to Rs500,000, signaling a stern stance against violations of human rights in the country. This unanimous decision underscores the committee’s dedication to upholding the sanctity of the law. In a subsequent development, Senator Samina Mumtaz Zehri withdrew the Prevention and Control of Human Trafficking (Amendment) Bill, 2024. This decision came as the relevant Ordinance, which the amendment sought to address, had already been repealed in 2018. Another significant legislative action was the passage of Senator Shahadat Awan's Criminal Laws (Amendment) Bill, 2024. This bill introduced crucial amendments to sections 292, 293, and 294 of the Pakistan Penal Code (PPC), along with subsequent amendments in the Code of Criminal Procedure (CrPC). Despite concerns raised about potential misuse of proposed sentence enhancements, the bill was passed with necessary amendments, highlighting the committee's diligence in refining legislative proposals for optimal effectiveness. However, the committee deferred deliberations on the Code of Criminal Procedure (Amendment) Bill, 2024, which Senator Shahadat Awan had introduced. This bill focused on Sections 513 and 514 of the CrPC, indicating the committee's judicious approach to prioritizing legislative matters based on their urgency and significance.Additionally, the National Database and Registration Authority (Amendment) Bill, 2023, introduced by Senator Fawzia Arshad, underwent thorough scrutiny. The committee passed this bill with amendments, showcasing its commitment to enhancing administrative procedures and ensuring the efficacy of regulatory frameworks. Beyond legislative matters, the committee addressed pressing issues raised by Senator Danesh Kumar. Concerns about commuter difficulties at check posts along the Balochistan-Karachi route and the demolition of a Hindu Temple in Mithi District, Tharparkar, were thoroughly discussed. The committee recommended the establishment of a joint check post to streamline security procedures and ensure a seamless experience for commuters. Furthermore, it advocated for fair treatment of encroachers, stressing equitable enforcement of the law irrespective of social or religious affiliations. The Senate Standing Committee on Interior operates with a sense of duty and responsibility towards the nation. Senators Saifullah Abro, Danesh Kumar, Fawzia Arshad, Kamil Ali Agha, Shahadat Awan, Waqar Mehdi, and Aon Abbas, along with senior officials from relevant departments, collectively work towards legislative excellence and public welfare. Through their deliberations and decisions, they uphold the principles of justice, accountability, and progress for all citizens.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/8S74uHV

Pakistan to seek $6b in new IMF loan

Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund to help the incoming government repay billions in debt due this year, Bloomberg News reported on Thursday, citing a Pakistani official. The country will seek to negotiate an Extended Fund Facility with the IMF, the report said, adding that the talks with the global lender were expected to start in March or April. Pakistan averted default last summer thanks to a short term International Monetary Fund bailout, but the programme expires next month and a new government will have to negotiate a long-term arrangement to keep the $350-billion economy stable. Ahead of the bailout, the South Asian nation had to undertake a slew of measures demanded by the IMF, including revising its budget, a hike in its benchmark interest rate, and increases in electricity and natural gas prices. The IMF did not immediately respond to a Reuters' request for comment on the Bloomberg report. Pakistan's finance ministry could not be immediately reached for comment. Days ago, the international credit rating agency Fitch had warned that the close outcome of the Feb 8 general elections and resulting near-term political uncertainty may complicate efforts to secure a financing agreement with the International Monetary Fund. “This looks set to be a coalition of the Pakistan Muslim League-Nawaz and the Pakistan Peoples Party, despite the strong performance by candidates associated with Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) in the elections,” the credit rating agency had said in its report on Pakistan’s economy released on Monday. The report stated that a new IMF deal, to succeed the Stand-By Arrangement (SBA) expiring in March 2024, was key to the country’s credit profile. Read also: Imran wants IMF programme halted over 'election fraud' “We assume one will be achieved within a few months, but an extended negotiation or failure to secure it would increase external liquidity stress and raise the probability of default.” It noted that while Pakistan’s external position had improved in recent months, with the State Bank of Pakistan reporting net foreign reserves of $8 billion as of Feb 9, 2024, up from a low of $2.9 billion on Feb 3, 2023, “nevertheless, this is low relative to projected external funding needs, which we expect will continue to exceed reserves for at least the next few years”. “We estimate Pakistan met less than half of its $18 billion funding plan in the first two quarters of the fiscal year ending June 2024 (FY24), excluding routine rollovers of bilateral debt.” It added that the “sovereign’s vulnerable external position means that securing financing from multilateral and bilateral partners will be one of the most urgent issues on the agenda for the next government”. “Negotiating a successor deal to the SBA and adhering to the policy commitments under it will be critical to most other external financing flows, not just from the IMF, and will strongly influence the country’s economic trajectory in the longer term.” Fitch highlighted that finalising a new IMF deal was likely to be challenging. “The current SBA is an interim package and we believe any successor arrangement would come with tougher conditions, which may be resisted by entrenched vested interests in Pakistan.” Nonetheless, it added, “we assume any resistance will be overcome, given the acute nature of the country’s economic challenges and the limited alternatives”. Read: Political instability can mar IMF programme: Fitch It warned that if the political instability continued, discussions with the IMF would be prolonged, assistance from other multilateral and bilateral partners delayed, or implementation of reforms hampered. “We believe a government will assume office and engage with the IMF relatively quickly, but risks to political stability are likely to remain high.” The report also warned that public discontent could rise further if the PTI remained sidelined as the election revealed continued strong public support for the party. It highlighted the government’s “poor record” of completing the IMF programmes, saying that less than half of its 24 IMF programmes had disbursed more than 75% of the funding available. “However, there has been fair progress on targets under the current SBA. Moreover, we perceive there is stronger consensus within Pakistan on the need for reform, which could facilitate the implementation of a successor arrangement.” It further warned that policy risks could rise again over time if external liquidity pressures eased, either as a result of initial reform successes or developments outside Pakistan, such as a substantial drop in oil prices. “This could lead to the renewed build-up of economic and external imbalances. We believe Pakistan’s external finances will remain structurally weak until and unless it develops a private sector that can generate greater significantly more export income, attract FDI or reduce import dependence.”

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/K3q6d9S

Wednesday, February 21, 2024

Vawda takes a dig at Maryam, calls her ‘Buzdar 2’

Former federal minister Faisal Vawda took aim at PML-N Chief Organiser and nominated chief minister of Punjab, Maryam Nawaz, calling her “Buzdar 2,” referring to the former Punjab chief minister from PTI. Taking to X, Vawda criticised Maryam's recent speech, saying it was heavily edited. He also lambasted Maryam's announcement of a door-to-door delivery service. گھنٹوں کی ایڈیٹنگ کے بعدپہلی ریکارڈڈ تقریر۔ نامزد وزیراعلی پنجاب بزدار 2 مریم صاحبہ کا پاکستان کو مسائل سے نکالنے کیلئے پہلا اعلان پنجاب پینڈا سروس (ڈیلیوری سروس) جس سے مُردوں کے سرٹیفکیٹ طلاق کے سرٹیفکیٹ اور پیدائش کے سرٹیفکیٹ گھر گھر پہنچائے جائیں گے۔ میاں صاحب گھبرانا نہیں۔… — Faisal Vawda (@FaisalVawdaPTI) February 21, 2024 Maryam had outlined plans for a PML-N government initiative to provide ten services, including home delivery of marriage, death, property, and birth certificates. In a scathing remark, Vawda added, "Mian sahib, don't panic. Step forward, no one is with you."

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/S4PR75W

Indian-origin girl accepts Islam, marries Sialkot man

A German Sikh girl of Indian origin has tied the knot with a young man from Sialkot after embracing Islam. Jaspreet Kaur, now known as Zainab, exchanged vows with Ali Arsalan, as confirmed by the certificate of acceptance of Islam issued by Jamia Hanafia Sialkot. Kaur, hailing from Ludhiana in Indian Punjab, is the daughter of Sangara Singh. Prior to the marriage, Kaur embraced Islam at Jamia Hanafia Sialkot, where she adopted her new Islamic name. The union between Kaur and Arsalan took place during Kaur's visit to Pakistan for a religious pilgrimage, which began on January 16. Kaur, who also holds an Indian passport, was granted a single entry visa until April 15. Read more: Indian actor embraces Islam Administrators of Jamia Hanafia revealed that Kaur is one of over 2,000 non-Muslims who have embraced Islam at their institution. Reports suggest that Kaur and Arsalan became acquainted while abroad, leading to Arsalan extending an invitation for Kaur to visit Pakistan, culminating in their marriage.

from Punjab News Updates and Insights - The Express Tribune https://ift.tt/auPtKSG

PTI, GDA and JI join forces to protest against ‘election fraud’

A new political alliance is taking shape in Sindh as the Pakistan Tehreek-e-Insaf (PTI), Grand Democratic Alliance (GDA), and Jamaat-e-Islami (JI) join forces to protest against the alleged electoral irregularities witnessed during the February 8 polls. Syed Sadruddin Shah Rashidi, Chief Coordinator of GDA Sindh, convened a meeting at his residence where he hosted Haleem Adil Shaikh, President of PTI Sindh, and Hafiz Naeemur Rehman, Ameer of JI Karachi, among others. Discussions centred on the prevailing political landscape and concerns over purported electoral malpractices during the recent general elections, fostering the groundwork for collaborative efforts. Following the deliberations, Sardar Abdul Rahim, Information Secretary of GDA, conveyed the collective decision to initiate a unified struggle. Read more: After PPP, PML-N woos other coalition partners for govt formation Rashidi extended invitations to the leaders of both parties to attend the upcoming GDA meeting scheduled for February 23, setting the stage for broader coordination. Amidst a backdrop of governmental and electoral commission disarray in the face of opposition pressure, the possibility of an abrupt announcement regarding the Sindh Assembly session for swearing-in was deliberated upon. Consensus was reached among the leaders to mobilise party members and supporters for a vigorous protest across Sindh should such an announcement materialise. Plans for a definitive course of action will be finalised during the forthcoming meeting on February 23, following thorough consultations.  

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/gHeYVUA

Thursday, February 1, 2024

HVT among two terrorists killed in DI Khan IBO

Security forces on Thursday killed two terrorists, including a high-value target (HVT), during an intelligence-based operation (IBO) in Khyber-Pakhtunkhwa’s Dera Ismail Khan district, the military said in a statement. According to Inter-Services Public Relations (ISPR), the military’s media wing, the operation was conducted on the reported presence of terrorists. During the conduct of the operation, an intense fire exchange took place between troops and terrorists as a result of which a high-value target, terrorist ring leader, Ashraf Sheikh and a terrorist named Burhan Ullah were killed. The statement said that weapons, ammunition and explosives were also recovered from the killed terrorists. Read also: Terrorist killed in North Waziristan IBO The ISPR said that a sanitisation operation is being conducted to eliminate any other terrorists found in the area. It further added that the locals of the area appreciated the operation and expressed their full support to eliminate the menace of terrorism. Earlier in the week security forces killed a terrorist during an IBO in North Waziristan district. During the conduct of the operation, according to ISPR, an intense fire exchange took place between Pakistani troops and terrorists as a result of which a terrorist named Naikman Ullah was killed.

from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/0b1zctZ

Meet the women leading key administrative roles in Sialkot

For the first time in its history, Sialkot district has become a trailblazer in gender inclusion within the provincial bureaucracy, now boas...