Page 18 - Pakistan Government

Cyclone Biporjoy unlikely to hit Pak's coastline, govt alerts authorities

Pakistan's meteorological agency has said that a ferocious cyclone in the Arabian Sea is unlikely to make landfall in the country, but authorities in the coastal areas in Sindh and Balochistan have been advised to be on alert to ensure public safety. Biporjoy was located by Friday night at around 1,120km away from Karachi, about the same distance between Karachi and Lahore, the Express Tribune reported quoting the Pakistan Meteorological Department (PMD) experts. Biporjoy has changed its course and slowly tracked in the north-northeast direction during the last 12 hours, the PMD said, adding that it was about 1,120km south of Karachi. Maximum sustained surface winds are 130-150 km/h gusts and 160km/h around the system's centre, it added. PMD experts suggested that Cyclone Biporjoy was unlikely to make landfall on the Pakistani coastal belt, but it might touch the Makran coast. Some meteorological instruments suggested that the cyclone would affect the west coast of Oman and Pakist

Pakistan govt's debt swells by 34.1% to Rs 58.6 trillion: Central bank data

The Pakistan government's total debt has increased 34.1 per cent year-on-year to Rs 58.6 trillion at the end of April, according to the latest report by the country's central bank. The increase was 2.6 per cent on a month-on-month basis, Dawn newspaper reported on Tuesday. The domestic debt amounted to Rs 36.5 trillion (62.3 per cent) while the external debt accounted for a 37.6 per cent share with Rs 22 trillion at the end of April. On an annual basis, the increase in external debt remained 49.1 per cent, the State Bank of Pakistan (SBP) data showed. There was no change in the external debt figure from a month ago. Within the domestic debt, the largest share was of the federal government bonds that represented almost Rs25 trillion worth of loans. Other major contributors to the domestic debt were short-term loans (Rs7.2 trillion) and unfunded debt (Rs2.9 trillion) that included money borrowed through National Savings Schemes. Funds obtained through federal government bonds rose 3

Pakistan's budget proposals: OICCI asks govt to abolish super tax

As cash-strapped Pakistan struggles to increase tax base, the Overseas Investors Chambers of Commerce & Industries (OICCI) has asked the government to abolish super tax and bring trade, services, real estate and agriculture sector into the tax net in line with their share in the economy, a media report said on Monday. The OICCI - which serves as a platform to promote foreign investments into Pakistan - presented its taxation proposals for 2023-24 budget to Finance Minister Ishaq Dar, the News International reported. "The OICCI recommended the abolishment of super tax for all sectors and capping the corporate tax rate at 29 per cent. It suggested that no further increase in effective tax rate should be made as it is already greater than the regional competitive rates, the paper reported. The general rate for minimum tax should be reduced to 0.25 per cent and carry forward of minimum tax credit be allowed for at least 5 years as prior to 2022, recommended the OICCI. The overseas ...

Pak's annual inflation rises to record 37.97% YoY in May: Official data

Pakistan's annual inflation rose to a record 37.97 per cent year-on-year in May, according to official data on Thursday. Pakistan, currently in the throes of a major political as well as economic crisis, is grappling with high external debt, a weak local currency and dwindling foreign exchange reserves. Inflation is measured on the basis of a basket of products and services called the Consumer Price Index (CPI), in which items are divided into 12 major components with different weights. According to data released by the Bureau of Statistics, which keep a record of price hike, the highest year-on-year increase was recorded in the categories of alcoholic beverages and tobacco at 123.96 per cent, recreation and culture at 72.17 per cent and transport at 52.92 per cent. In the food group, items whose prices increased the most in May compared to last year were cigarettes, potatoes, wheat flour, tea, wheat and eggs and rice. In the non-food category, the items whose prices saw the highe

Ex-PM Imran Khan summoned in Lahore Corps Commander House attack case

A joint investigation team (JIT), constituted by the caretaker government of Punjab province to investigate arson attacks on the Pakistan Corps Commander's House

Historical trail of Pakistan's powerful military enterprise: Explainer

Amid the ever-changing political landscape, the only permanent force is the military establishment, while the political parties only coexist to share power with it

Pak Police surround Imran Khan's home in search of '30-40 terrorists'

Khan said his re-arrest was imminent. Hours earlier, Islamabad's High Court had granted him a bail extension until May 31, his lawyer Faisal Chaudhry said

Pakistan likely to turn to China for a bailout as IMF deadlock continues

Pakistan is now looking for a 'Plan B' for averting full fledge eruption of the balance of payment crisis

Pakistan's Lower House unanimously adopts motion against chief justice

The motion - moved by Pakistan Peoples Party (PPP) leader Shazia Sobia - was unanimously adopted by the house, the Express Tribune newspaper reported

Pakistan's former PM Imran Khan calls for nationwide 'freedom' protest

His remarks came in response to ISPR Director-General Major General Ahmed Sharif Chaudhry's statement in which he called Mr. Khan a "hypocrite"

Imran indicted, Pakistan burns; rupee falls all-time low to 287.29 vs $

Default risk grows, IMF deal may be delayed as court indicts Khan, sends him to 8-day custody

Sale of petroleum products halves in Pakistan, high inflation to blame

The marginal recovery in diesel sales during the month of April can be attributed to increased mobility due to the festive season and Eid holidays

Pakistan becomes largest recipient of ADB funded programmes in 2022

Owing to the economic crisis led by political and geopolitical uncertainties, Pakistan has become the largest recipient of the Asian Development Bank (ADB)-funded programmes/projects in the year 2022

Pakistan SC warns govt of serious consequences if poll funds not released

A day earlier, the Defence Ministry filed an application in the SC, requesting the top court to recall its April 4 order that had fixed May 14 as the election date for the Punjab Assembly

World Bank estimates decline in Pakistan's GDP per capita income to $1,399

The World Bank has estimated a drop in GDP per capita income for Pakistan from USD 1,613.8 in 2021-22 to USD 1,399.1 in 2022-23, Business Recorder reported.In its report 'Macro Poverty Outlook for Pakistan: April 2023', the bank noted that GDP per capita growth is estimated at -1.5 per cent in 2022-23 in comparison to 4.2 per cent in 2021-22. World Bank has cut Pakistan's GDP forecast to 0.4 per centThe unemployment rate in Pakistan is estimated to rise from 10.2 per cent in 2022-23 to 10.1 per cent in 2021-22. Poverty will inevitably rise with pressures from weak labour markets and high inflation, as per the Business Recorder report.In the absence of higher social spending, the lower-middle-income poverty rate is expected to rise to 37.2 per cent in FY23. Considering poor households' dependency on agriculture and small-scale manufacturing and construction activity, they remain vulnerable to economic and climate shocks.Gross investment is estimated to reduce to 106 per cent in 2022-23

PTI to write to Pak Prez Arif Alvi about Punjab caretaker govt's tenure

Pakistan Tehreek-e-Insaf (PTI) has decided to write to Pakistan President Arif Alvi over the 90-day constitutional term of the Punjab caretaker government, ARY News reported.PTI senior vice-president Fawad Chaudhry will write a letter to Alvi regarding the tenure of the Punjab interim government headed by Chief Minister Mohsin Naqvi, as per the ARY News report. The letter stated that the 90-day constitutional term of the Punjab caretaker government will end on April 22. However, the caretaker setup has not been able to complete its objective during the term.In the letter, Fawad Chaudhry urged Pakistan President Arif Alvi to send the letter as a reference to the Supreme Court. Furthermore, PTI will request a court order Fawad Chaudhry requested President Arif Alvi to send the letter as a reference to the Supreme Court, as per the ARY News report.Pakistan Tehreek-e-Insaf (PTI) will also request a court order to clarify the process of ending the interim government, as per the news ...

Imran's lust for power imperiled Pakistan's foreign policy: Shehbaz Sharif

The Pakistan premier took to Twitter to launch a tirade against the former Prime Minister, saying that "his hypocrisy knows no bounds", The Express Tribune reported

Pak govt stops SC from conducting hearings against bill limiting judiciary

Pakistan's ruling coalition has rejected the formation of an eight-judge bench tasked to hear the petitions against pending legislation meant to clip the powers of the Supreme Court Chief Justice, terming the move unprecedented and unacceptable, media reports said on Thursday. The Pakistan Democratic Movement (PDM) also issued a joint declaration in which it said that the apex court's move to form a controversial bench even before the completion of the legislative process "was never seen in the history of Pakistan and the Supreme Court, the Dawn newspaper reported. The bill, titled the Supreme Court (Practice and Procedure) Bill 2023, is aimed at depriving the office of the CJP of powers to take suo motu notice in an individual capacity. It was initially passed by both houses of parliament and sent to the president for his assent. However, the president sent it back, saying that the proposed law travelled beyond the competence of parliament.

UGC cautions Class 12 students against fake universities in Pakistan

Ahead of college admissions, University Grants Commission (UGC) has warned students against unrecognised or 'fake' institutions operating in the country.

HRCP raises concerns over disappearances, curbs on press in Balochistan

The Human Rights Commission of Pakistan (HRCP) has sounded alarm over growing public frustration pertaining to enforced disappearances, economic exclusion, curbs on press freedom