Page 105 - Pakistan

Pakistan budget targets 'artificial, non-realistic': Imran Khan's party

Former Pakistan prime minister Imran Khan's party leaders have criticised the budget announced by Finance Minister Ishaq Dar, describing it as artificial and unrealistic, and accused him of figure fudging of Rs 1 trillion in the amount of interest payments and non-tax revenue. The Pakistan government on Friday unveiled a Rs 14.4 trillion budget for 2023-24 as it battled to fend off a looming default due to shrinking foreign reserves. Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.

$30 billion loss to Pakistan due to floods, rains: PM Shehbaz Sharif

Sharif reiterated that the ninth review with the IMF will be completed during the current month of July as he held an hour-long telephonic conversation with the fund's chief

China wants end to terror attacks on Pakistan-Iran border: Reports

For the first time, China, together with Pakistan and Iran, has decided to find ways and means to counter the threat of terrorism facing the region, media reports said

Cash-strapped Pakistan allocates Rs 1.8 trn for defence in budget 2023-24

Cash-strapped Pakistan on Friday hiked defence spending by 15.5 per cent and allocated over Rs 1.8 trillion, as the government unveiled a Rs 14.4 trillion budget for 2023-24 as it battled to fend off a looming default due to shrinking foreign reserves. Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year. This budget should not be seen as an election budget' it should be seen as a responsible budget', Dar said as the political parties were getting ready for the next general elections scheduled for later this year, amidst political turmoil following the ouster Imran Khan as the prime minister in April last year. Dar presented the budget in the National Assembly, the lower house of parliament, which is being deemed as the last budget of the government before the general elections later this year. He said that a sum of Rs 1,804 billion has b

Pak PM hopes to strike IMF deal as 'all conditions met' despite hardship

Pakistan Prime Minister Shehbaz Sharif on Friday hoped the IMF would resume the stalled USD 6.7 billion bailout programme as his country has already met all prior conditions set by the global lender despite economic hardships. The premier's remarks came as Finance Minister Ishaq Dar presented a PKR 14 trillion budget for the fiscal year 2023-24, which the government claims to have shared with the International Monetary Fund (IMF). The budget needs to satisfy the IMF to secure the release of more bailout money for the cash-strapped Pakistan, which is due to hold a general election by November. "The ninth review will be complete soon," Sharif said during his address to the federal cabinet of the coalition government, which presented its second budget. Referring to the devastating floods triggered by climate change, he said it inflicted losses worth over USD 30 billion on the country's economy. He added that the Ukraine crisis also pushed the prices of commodities in the internation

Military purge in Pak gathers steam as countdown begins for Imran's arrest

New Delhi, June 9: The military purge in Pakistan has gathered steam to root out supporters of ex-Prime Minister Imran Khan whose early arrest is now on the cards

Pak to examine Iran's Indian Ocean alliance proposal maritime security

Pakistan has said it will examine the proposal floated by Iran with regard to forming an Indian Ocean naval alliance aimed at ensuring collective maritime security, media reports said.

8 including 2 children killed, 17 injured in road accident in northwest Pak

At least eight people, including two children of the same family, were killed and 17 others injured when a passenger vehicle fell into a deep ravine in a mountainous terrain in northwest Pakistan, authorities said on Friday. The pick-up vehicle was carrying 25 passengers of the same family who were going to Chitral from Upper Dir. It plunged into a ravine at Kochhan Gol near Lowari Top on Thursday while negotiating a sharp turn, authorities said. According to Rescue 1122 officials, four of the injured are said to be in critical condition. Road accidents are common in Pakistan and are caused mainly due to poor roads, badly maintained vehicles and unprofessional driving. Passenger vehicles are frequently crammed to capacity and seatbelts are not commonly worn, meaning high death tolls from single-vehicle accidents.

Ex-Pakistan PM Imran faces isolation as defectors form new political party

Jahangir Khan Tareen, one of Khan's closest aides, will lead the Istehkam-e-Pakistan Party, he announced at a news conference

Pakistan, Turkmenistan ink Joint Implementation Plan for TAPI gas pipeline

In an effort to speed up work on Turkmenistan, Afghanistan, Pakistan, and India (Tapi) gas pipeline project Pakistan, Turkmenistan signed Joint Implementation Plan

Pakistan's central bank SBP's forex reserves fall by $179 million

The State Bank of Pakistan (SBP) said that its foreign exchange reserves had decreased by $179 million.

170 Indian Sikh pilgrims reach Pakistan to attend festivities of Jorr Mela

Around 170 Indian Sikh pilgrims arrived here in Pakistan on Thursday to attend the festivities of the Jorr Mela, marking the death anniversary of the fifth Sikh Guru Arjun Dev Ji. Evacuate Trust Property Board (ETPB) Additional Secretary Shrines Rana Shahid Saleem and Pakistan Gurdwara Parbandhak Committee Pardhan (President) Amir Singh greeted the pilgrims at the Wagah border. "As many as 170 Indian Sikhs, including women, arrived here via Wagah Border on Thursday to take part in Jorr Mela to be held at Gurdwara Punja Sahib, Hasanabdal," Amir Hashmi, spokesperson of ETPB, which looks after minority worship places in the country, told PTI. He said the visiting pilgrims were offered langar (food) at Wagah and later transported to Hasanabdal city of the Punjab province for the main event. Sardar Gaurbachan Singh, leading the visiting Yatrees (pilgrims), expressed his delight in being in the land of the founder of the Sikh religion, Baba Guru Nanak. He said the Yatrees, during their

Punjab gov pitches for surgical strikes as he slams Pak for pushing drugs

Punjab Governor Banwarilal Purohit on Thursday said surgical strikes should be conducted against Pakistan to teach it a lesson as he accused the neighbouring country of pushing drugs into the Indian territory. Purohit also praised the Punjab government over the issue of drug seizure and tackling drones that are being used to send narcotics from across the border. The governor was on a two-day visit to the border districts of the state. He said the next generation must be stopped from becoming addicts at any cost and added that if Pakistan is playing mischief with India, "one or two surgical strikes should be conducted against it". Purohit expressed satisfaction over the coordination among central agencies, such as the Border Security Force (BSF), Army and Intelligence Bureau, and the Punjab Police. Addressing the media here, the governor came down heavily on Pakistan for launching a "hidden war" against India, saying it is doing so as it could not engage in a direct fight against

Cash-strapped Pakistan's economy shows 0.29% GDP growth, inflation over 29%

Cash-strapped Pakistan's economy showed a dismal performance during the outgoing financial year with just 0.29 per cent GDP growth and spiralling inflation at over 29 per cent, according to the economic data unveiled by Finance Minister Ishaq Dar on Thursday. Dar launched the Economic Survey 2022-23 at a crowded press conference, an annual ritual performed one day ahead of next year's budget. The survey showcases the economic achievements of the government during the year ending on June 30 amidst political turmoil and unprecedented floods. The documents showed that the GDP growth in the outgoing year remained at 0.29 per cent, missing the target of 5 per cent, including 1.55 per cent in agriculture, 2.94 in industry and 0.86 per cent in the services sectors respectively. All three sectors missed the targets, with the industrial sector contracting to 2.94 per cent from the target of 7.1 per cent growth, the data showed. The survey showed that Pakistan registered 29.2 per cent inflat

Pakistan HC grants Imran Khan protective bail in SC lawyer's murder case

A Pakistan high court on Thursday granted protective bail to former premier Imran Khan in a case registered against him for the murder of a senior lawyer and reserved its verdict on bail petitions filed by Khan in eight other cases. Khan, 70, was named in the killing of Supreme Court lawyer Abdul Razzaq Shar, who was shot dead in Quetta on June 6 by unknown gunmen.

Imran Khan appears before Islamabad HC for hearings in multiple cases

He is also expected to appear before an anti-terrorism court in 10 cases related to violating Section 144 and threatening a female judge

China-Pakistan collab in Shaksgam Valley poses threat to India: Report

China's traditional aggression across the LAC in fact diverts India's attention from China's illegal land grab in PoK, this is a strategic reality to be faced with in the medium future

Toshakhana case: Court grants protective bail to Imran Khan till June 21

A Pakistani court on Wednesday granted protective bail to former prime minister Imran Khan till June 21 after a fresh FIR was registered against him for committing forgery in selling the state gifts. Earlier on Wednesday, the Pakistan government registered a case of fraud and forgery against former prime minister Khan, his wife Bushra Bibi and their close aides for allegedly preparing and submitting fake and forged receipts regarding Toshakhana gifts. The Lahore High Court (LHC) also stopped police from arresting Khan's wife Bushra Bibi till June 13 in any case.

Imran Khan booked under anti-terrorism law after murder of SC lawyer

Pakistan's former prime minister Imran Khan has been booked under the anti-terrorism law in the murder case of a supreme court lawyer, his party said on Wednesday. Advocate Abdul Razzaq Shar was killed on Tuesday in a drive-by shooting in Quetta, the capital of Balochistan province, while on his way to the provincial high court when targeted by the unknown assailants.

Pakistan PM Sharif tells FinMin to follow IMF parameters in budget: Report

Pakistan Prime Minister Shehbaz Sharif has directed the finance ministry to ensure that the budget is in line with the parameters set by the IMF, amid ongoing negotiations with the global lender for a bailout package for the cash-strapped country, according to a media report on Wednesday. The country's budget is likely to be presented on Friday. A week back, Sharif held a telephone conversation with International Monetary Fund (IMF) Managing Director Kristalina Georgieva and urged her to revive the USD 6.5 billion deal that was initially signed in 2019 and is set to expire by the end of this month. Geo News, citing an informed source, said Sharif, during a meeting with Finance Minister Ishaq Dar on Tuesday, expressed optimism that the government would reach an agreement with the IMF. The source also dismissed speculation that the government would present a populist election-year budget and said, "Pakistan can't afford any budget that violates the set basics of the IMF." The prime