Ishaq Dar
Pakistan News

Dar Again Eliminates The Option Of A Default

Dar Again Eliminates The Option Of A Default

June 3, 2023 / By Zunair Tahir / Pakistan News


Reforms are promised by the finance minister for “long-term improvement” of the nation.

Ishaq Dar, Pakistan’s finance minister, again ruled out the idea of a default on Saturday and pledged that changes are being prepared for the “long-term improvement” of the nation.

The finance czar promised to work with other government officials to help the nation overcome its present economic difficulties while speaking to a delegation from the Karachi Chamber of Commerce and Industry in Islamabad.

Dar said that the Ministry of Finance will start a revolution in agriculture and create a sovereign wealth fund. He added that he is committed to take actions that have previously been disregarded and that the IT industry would also be a priority of his.

The group was also told by the finance minister that there is “no technical justification” for the IMF program’s postponement, which is unprecedented.

He insisted that Pakistan was an independent nation with trillions of dollars’ worth of assets.

Dar said that the nation has over $100 billion in foreign liabilities, but just one asset, its gas infrastructure, is valued between $40 and $45 billion.

The business sector was also urged by the finance minister to make fair expectations for the 2019 budget, and the administration promised to work with them.

Dar’s remarks came a day after a cabinet member said that Pakistan’s request to lessen the need of arranging $6 billion in new loans had been denied by the global lender, leaving the government with little choice except to attempt to resurrect the arrangement.

Minister of State for Finance Dr. Aisha Pasha stressed that Pakistan’s only choice was to return to the IMF in a policy statement delivered at the National Assembly Standing Committee on Finance.

Dr. Pasha claims that Pakistan asked the IMF to take into consideration lowering the $6 billion external funding demand based on fresh data on the current account deficit, but the Fund declined. The other $3 billion was to be arranged after the staff-level agreement, she said, but the IMF insisted on “demonstrating the $6 billion.” She went on to say that there was an understanding to arrange $3 billion before the agreement.

The statement from the ministry of finance shows that the IMF has not altered its position despite a call from Prime ministry Shehbaz Sharif to IMF Managing Director Kristalina Georgieva.

The IMF has already paid out $3.9 billion of the overall $6.5 billion rescue package during the previous four years, with the remaining amount depending upon the conclusion of three outstanding assessments.


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Imran-Khan
Pakistan News

Imran Khan On His Next Court Appearance”80% Chances That I Will Be Arrested”

Imran Khan On His Next Court Appearance”80% Chances That I Will Be Arrested”

May 22, 2023 / By Zunair Tahir / Pakistan News


Imran Khan, a former Pakistani prime minister, claimed that the ruling coalition’s desire to banish him from politics is a result of their concern over losing the general elections scheduled for 2019.

Imran Khan, the leader of the Pakistan Tehreek-e-Insaf (PTI), has said that he may be detained once more when he appears in court in Islamabad on Tuesday this week to participate in the investigation into the Al Qadir trust issue, according to ARY News on Sunday.

Imran Khan, a former Pakistani prime minister, claimed that the ruling coalition’s desire to banish him from politics is a result of their concern over losing the general elections scheduled for 2019.

Additionally, he said that former Pakistan Army Chief Qamar Javed Bajwa was trying to topple his administration and that he didn’t understand why.

Imran Khan on his court appearance: “There’s 80% Chances I’ll be arrested.”

Imran Khan, the leader of the Pakistan Tehreek-e-Insaf (PTI), has warned that he may be detained once more when he appears in court in Islamabad on Tuesday this week to assist with the investigation into the Al Qadir trust issue, according to ARY News on Sunday.
Imran Khan, a former Pakistani prime minister, claimed that the ruling coalition’s desire to banish him from politics is a result of their concern over losing the general elections scheduled for 2019.

There are 80% possibilities that I would be arrested when I go in court in Islamabad on Tuesday for a number of bails, the former prime minister stated in an interview with international media, according to ARY News.

The PTI leader mentioned his party’s purge, saying that over 10,000 employees, including top leadership and women, had been detained.

According to Dawn, the Chief of Pakistan Tehreek-e-Insaf (PTI) informed the National Accountability Bureau (NAB) on Saturday that he may join the investigation into the Al Qadir Trust Case the following week. Khan stated that he can show up on Tuesday at 11 AM for the case’s inquiry.

In his answer to the anti-graft watchdog’s call-up notice, Imran pleaded with the NAB to confirm the previously indicated time for him to join the probe.

Imran Khan, the PTI chairman, was recently taken into custody by Rangers from the Islamabad High Court (IHC) in the Al-Qadir Trust case. Imran Khan is out on bail till June 2. Workers for the PTI staged demonstrations following Khan’s detention in a number of cities throughout the nation, including Islamabad, Rawalpindi, Lahore, Karachi, Gujranwala, Faisalabad, Multan, Peshawar, and Mardan.

Imran Khan’s pre-arrest bail in three counts brought against him following his detention on May 9 was allowed by a counterterrorism court in Lahore on Friday.

A NAB investigation into a settlement between the PTI government and a property tycoon, which is said to have resulted in a loss of 190 million pounds to the national exchequer, is purportedly including Imran Khan, his wife Bushra Bibi, and other PTI leaders, according to Geo News.

Khan and the other defendants are accused of adjusting money supplied to the government at the time by the National Crime Agency (NCA) of Britain, according to the allegations, according to Geo News.


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Punjab government
Pakistan News

The Punjab Government Gives PTI 24 Hours To Turn Over “Terrorists” Residing In Zaman Park

The Punjab Government Gives PTI 24 Hours To Turn Over “Terrorists” Residing In Zaman Park

May 17, 2023 / By Zunair Tahir / Pakistan News


According to the interim information minister, 30 to 40 “terrorists” participating in the “May 9 mayhem” have sought sanctuary in the former prime minister’s home.

The Pakistan Tehreek-e-Insaf (PTI) was given 24 hours to “hand over terrorists seeking refuge in Zaman Park” on Wednesday by interim Punjab Information Minister Amir Mir.

He said at a news conference that the former prime minister’s Zaman Park home had provided safe haven for 30 to 40 “terrorists” who took part in the “May 9 mayhem” after PTI Chairman Imran Khan’s imprisonment.

He said that those who attacked the Corps Commander of Lahore were among those hiding out at Zaman Park.

The Punjab Police is to receive these terrorists from PTI. The PTI leadership has been given 24 hours by the Punjab interim government, according to Mir.

“PTI is acting like an anti-state party and its Chairman Imran Khan has been targeting the military for more than a year,” he continued.

The Punjab interim Chief Minister Mohsin Naqvi, according to him, “has given a free hand to police to capture the arsonists,” and the violent events that followed Imran’s arrest last week were planned in advance.

The minister emphasized that the Punjabi government had enacted a “zero tolerance policy” for anyone who planned, encouraged, and committed acts of violence.

“The federal government, military leadership, and Punjab government have decided to punish the attackers,” he said.

Prime Minister Shehbaz Sharif declared earlier this week that “perpetrators, planners, and facilitators” of the violence on May 9 should not be spared at any price.

After presiding over the National Security Committee meeting, he stressed in a televised speech that “even the prime minister of Pakistan should not be allowed to pardon the culprits.”

He grieved that the Lahore Jinnah House (Corps Commander House) had been damaged and set on fire by the offenders.

“Jinnah House is sacred, and it was destroyed during the wave of violence,” claimed PM Shehbaz.

The PM said that “terrorism” applied to the attack’s perpetrators, planners, and facilitators.

After Imran was detained, riots broke out across Pakistan and turned violent.

At least eight individuals were murdered and close to 2,000 people were jailed.

Hundreds of demonstrators attacked and set fire to government buildings, police cars, and other public vehicles while rampaging through army sites. They also blocked key roads leading into and out of all major cities.

After Imran’s release was mandated by the Pakistani Supreme Court on May 11, the demonstrations subsided.


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Pakistan News

Nadra Launches Platform For Tracking Sex Offenders

Nadra Launches Platform For Tracking Sex Offenders

May 14, 2023 / By Zunair Tahir / Pakistan News


To assist people and organizations in locating and tracking those found guilty of sex crimes against women and children, the National Database and Registration Authority (Nadra) established the National Sex Offenders Registry (NSOR) platform in conjunction with an SMS verification service.

It is an ever-changing database of sexual offenders. Links with various law enforcement agencies and provincial governments have been created to provide for real-time updates.

This change aims to increase the service’s flexibility and responsiveness to institutional and societal demands for sexual assault and abuse prevention.

Citizens, employers, and government agencies will be made aware of these offenders thanks to an SMS-based verification program.

Chairman of Nadra Tariq Malik said, “This initiative has always remained close to my heart, which is a critical step towards safeguarding women and children from sexual violence and abuse.”

Action Taken To Stop Sexual Assault And Abuse

In order to guarantee that those recruited for domestic duties, at mosques, colleges or universities, or for any other work, are not sexual offenders, have a clean criminal record, and can be trusted around women and children, he declared that residents may now utilize this service to check the CNIC number of potential employees.

According to Mr. Malik, stopping even one case of sexual assault against a kid or a woman is an investment in the future of our nation as well as an act of protection.

Our country has to take this obligation to the least of the poor seriously.

“We must acknowledge that stopping child and women sexual abuse requires more than simply punishing perpetrators; it also requires fostering an environment of safety and protection for the most vulnerable populations [children and women]. Only then can we guarantee that the following generation has the chance to prosper.

This service’s goal is to make information on sex offenders accessible to institutions and individuals right away.

Additionally, the information may be utilized to track down criminals so that they can be prosecuted for their crimes and prevented from doing them again.

Citizens can check if a potential employee is a convicted sex offender by submitting a 13-digit CNIC number to the SMS short code 7000 once the applicant provides their CNIC. After authentication, a message in Urdu saying “Beware! prisoner is XYZ’s son ABC. Keep him away from women and children.


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PTI Logo
Pakistan News

PTI Reiterates Calls For An Inquiry As Audio Leaks Keep Coming

PTI Reiterates Calls For An Inquiry As Audio Leaks Keep Coming

April 23, 2023 / By Zunair Tahir / Pakistan News


The PTI reiterated its requests for an inquiry into these clips on Sunday and urged the Supreme Court to take note of the leaks as audio tapes purporting to show private telephone conversations of prominent figures continue to surface.

Recently, a number of audio leaks on social media have appeared that include important members of the government and opposition, such as Prime Minister Shehbaz Sharif, PTI Chairman Imran Khan, PML-N Vice President Maryam Nawaz, and others.

The tapes, which appeared to show casual discussions, have caused significant worries about the security of government buildings, especially the Prime Minister’s Office.

The release of audio leaks was described by PM Shehbaz as a “very serious lapse” and a high-level committee was to be established to look into the situation.

The PTI, on the other hand, has submitted a plea to the SC asking for an investigation into the audios. The former prime minister Imran Khan also requested “enforcement” of the public’s basic rights in a letter to the Chief Justice of Pakistan, Umar Ata Bandial, and other SC judges, including Article 14 of the Constitution (the fundamental right to privacy).

An audio tape that supposedly included the wife of a PTI lawyer and the mother-in-law of a prominent SC judge first surfaced on social media earlier today. The women were heard discussing a well-known case that the supreme court is now hearing on the recordings.

A high-level committee was to be constituted to investigate what PM Shehbaz called a “very serious lapse” in the dissemination of audio leaks.

Fawad Chaudhry, a leader of the PTI and a former minister, said that his party has repeatedly pushed the SC to look into the series of leaks, describing them as “disastrous.”

We constantly asked the Supreme Court to look into this series when audio recordings from the Prime Minister’s Office and Prime Minister’s House were made public, he tweeted. “How will anyone else in the country be safe if the prime minister’s office is not secure and audios are being recorded there?”

Fawad mentioned PTI’s suit over the audio leaks and stated that even after all these months, a hearing date had not been set.

He added that “such illegal phone tapping is punishable by up to three years in prison under the fair trial law,” and that “now, judges, politicians, civil servants, and even housewives are becoming victims of this third-class thinking and no one can do anything about it.”

Shireen Mazari, a former minister for human rights, claimed that audio leaks of people’s private conversations demonstrated the “depravity, desperation, and insanity the deep state and its puppet PDM regime are delving into with impunity.”


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Pakistan News

PM Is Extremely Concerned About Sudan Citizens’ Safety

PM Is Extremely Concerned About Sudan Citizens’ Safety

April 23, 2023 / By Zunair Tahir / Pakistan News


Pakistan has intensified efforts to assist its people stranded in the unrest-ridden African nation as fatal fighting between two opposing generals in Sudan continued. This is happening amid pleas for an Eid ceasefire.

Shehbaz Sharif, the prime minister, said in a statement on Friday that the government was closely monitoring events in Sudan and that attempts to secure the safety of Pakistani people there were being continuously reviewed.

According to the statement, there are now over 1,500 Pakistanis living in Sudan. It also added that the Pakistani embassy was in touch with them and giving them all the assistance it could.

The prime minister stated that Pakistan was having trouble evacuating its nationals because of the risk involved in travelling to the airport.

He gave the assurance that the administration was in contact with the UN regarding the circumstance in Sudan.

Also on Friday, Pakistani missions in Khartoum and the neighboring nations participated in a virtual conference with the foreign secretary, Asad Majeed Khan, to discuss the situation in Sudan.

“The government is working with partner countries to ensure the safety and security of Pakistanis in Sudan, including the option of evacuation,” the spokeswoman for the Foreign Office tweeted.

Mr. Majeed also met with Salih Mohamed Ahmed Mohamed Siddig, the Sudanese ambassador to Pakistan, to express Islamabad’s worry over the deteriorating situation in the latter’s nation.

During the discussion, the foreign secretary expressed the hope that the Sudanese authorities would do all possible to safeguard the safety and security of Pakistanis living there.


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Pakistan News

PM Says That All Conditions Have Been Fulfilled, But IMF Wants “More Guarantees”

PM Says That All Conditions Have Been Fulfilled, But IMF Wants “More Guarantees”

April 16, 2023 / By Zunair Tahir / Pakistan News


The International Monetary Fund (IMF) has no reason to put off approving the staff-level agreement after receiving financial guarantees from allies, according to Prime Minister Shehbaz Sharif on Saturday. However, a Fund official said the lender was looking forward to receiving “necessary financing assurances” as soon as possible to clear the way for the conclusion of the ninth review of the $7 billion program.

IMF Mission Chief to Pakistan Nathan Porter made the announcement a day after Finance Minister Ishaq Dar confirmed $1 billion in bilateral financial help for Pakistan, which is thought to be the last preparatory action for staff-level agreement with the international lender.

PM Shehbaz remarked, “The IMF had set a condition for us to arrange funds from friendly countries before it signed a staff-level agreement with us,” while speaking at an event in Lahore. We worked hard for one and a half months to achieve the IMF’s final need by first getting a rollover of $2 billion from China and then $3 billion from Saudi Arabia and the UAE.

The premier complimented Bilawal Bhutto-Zardari and Ishaq Dar for their “hard work” in this respect and stated that “the new army chief made efforts to acquire the funds from Saudi Arabia and the UAE.”

He expressed the resolve to overcome these obstacles by reaching an agreement with the international lender as quickly as possible, despite the fact that his administration “inherited an IMF agreement that was in tatters.” There was “no alternative,” he said, therefore the government had to accept the strict requirements established by the IMF.

The Fund, meantime, praised Pakistan’s receipt of bilateral aid but pressed Islamabad for more guarantees to finalise the agreement.

The agreement to retain strong policies and find adequate funding to assist the implementation efforts was reached during talks between the Pakistani delegation and IMF employees and management, the statement added.

In contrast to an earlier government declaration that the pledge of $2 billion from Saudi Arabia and $1 billion from the UAE would address the issue, an official source noted that the Fund is still waiting for assurances from friendly nations. In addition, Mr. Dar said that the State Bank had received the final payment of $300 million from the Industrial and Commercial Bank of China on its $1.3 billion loan.

Kristalina Georgieva, the chief of the IMF, had hoped Pakistan would finish its current plan.

At a news conference in Washington, she stated, “My hope is that with the goodwill of everyone and with the implementation of what has already been agreed upon by the Pakistani authorities, we can complete our current program successfully.”

Separately, as part of the IMF/World Bank spring meetings, Mr. Dar conducted a virtual discussion with Jin Liqu, the president of the Asian Infrastructure and Investment Bank (AIIB), through a video link.

According to a formal statement, Mr. Dar informed the AIIB president on the government’s economic objectives and reforms for sustainable development while also sharing the present economic prognosis.

According to the release, the AIIB president praised the bank’s partnership with Pakistan.


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Pakistan News

Iran & Pakistan Link Their Power Networks To Increase Electricity Trade

Iran & Pakistan Link Their Power Networks To Increase Electricity Trade

March 14, 2023 / By Zunair Tahir / Pakistan News


LEBANON – According to IRNA, Iranian Energy Minister Ali-Akbar Mehrabian has declared the conclusion of a power transfer line to Pakistan’s neighbour in an effort to increase energy trades between the two nations.

According to reports, the two nations formally agreed to use the aforementioned transmission line on Monday for the exchange of up to 200 megawatts (MW) of energy in the near future.

In a ceremony witnessed by both of the aforementioned men, the aforementioned contract was inked.

On the margins of a meeting with Dastgir-Khan before the signing event, Mehrabian told the press that the 200 megawatt energy transmission line between Iran and Pakistan was planned and constructed in less than a year.

He declared that the line had undergone all required tests and trials and was now electrified.

“There were positive talks about the interchange of power through this connection in today’s meeting with the Pakistani minister of energy,” Mehrabian continued.

The official estimated that the present yearly trade between the two nations is worth over two billion dollars and added that the building of this line will increase the amount of electricity exchanged between the nations to 200 megawatts, which will significantly strengthen the economic ties.

For his part, Dastgir-Khan referred to his earlier visit to Iran, saying that during this trip, “efforts were made to reach a final agreement and the progress of the previous agreements regarding the electricity exchanges between the two countries through the electricity transmission line was pursued.”

He continued, underscoring the significance of strengthening and expanding ties between the two nations, saying:

“It is anticipated that we will observe the growth of energy trades between the two nations with the final agreement following the creation of technical and business teams.”

The two neighboring nations’ energy ministers met for the second time in less than a year at this conference. During his visit to Tehran in June of last year, Dastgir-Khan conferred with Mehrabian.


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Pakistan News

The Judge Will Not Rule On Imran’s Warrant Revocation

The Judge Will Not Rule On Imran’s Warrant Revocation

March 6, 2023 / By Zunair Tahir / Pakistan News


According to the PTI chief’s attorney, a private complainant’s warrant issuing has been somewhat delayed.

On Monday, an Islamabad district and sessions court reserved judgement on Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan’s application to revoke the non-bailable warrant that had been issued for him in the Toshakhana case.

Lawyers Qaiser Imam, Gohar, and Ali Bukhari submitted a plea in the court of Additional Sessions Judge Zafar Iqbal on behalf of the ousted prime minister.

Imam argued that since the issue of a warrant in a private complaint had been “to some extent averted,” the court ought to revoke Imran’s arrest warrant.

In his remarks, Judge Iqbal said that Imran’s attorneys had informed them that he would not be appearing in court on February 28.

The court then put the decision on hold.
The PTI leader arrived to Islamabad’s judicial complex on February 28 with members of his party to defend himself against allegations of terrorism and illegal finance.

It is important to note that the sessions court is in F-8 Kachehri, which is about a half-hour drive from the courthouse and where the PTI leader had to appear in the Toshakhana reference and an attempted murder case.

Imran’s attorney had asked the judge at the Toshakhana reference hearings to postpone the hearing by an additional five days.

The defence attorney had stated that he was unable to appear in court with the deposed premier. He had however added that if his client was able to escape the courthouse in time, he would show up in court.

When he issued the non-bailable warrants, Judge Iqbal had postponed the hearing until March 7. (tomorrow).

The PTI leader avoided arrest in the most recent incident a day earlier when his supporters stopped the Islamabad police from accessing his Zaman Park mansion in Lahore amid intense drama.

Nonetheless, Imran was given the notice by the police, who gave it to his chief of staff Shibli Faraz, for “compliance” with the arrest warrants issued by the federal capital’s sessions court in the Toshakhana case.


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Pakistan News

Interbank Rupee Declines By Almost Rs19 versus The Dollar Due To IMF Delays

Interbank Rupee Declines By Almost Rs19 versus The Dollar Due To IMF Delays

March 3, 2023 / By Zunair Tahir / Pakistan News


On the interbank market on Thursday, the Pakistani rupee plunged drastically by Rs18.74 versus the dollar, reaching a record high of Rs284.85 in morning trade, according to information provided by the Exchange Companies Association of Pakistan (Ecap).

Experts blamed the government’s standoff with the International Monetary Fund for the record loss, which is 7.04 percent (IMF).

According to SBP statistics, the PKR closed Wednesday at Rs266.11 per USD.

“Uncertainty resulting from IMF financing delay”
According to Mohammed Sohail, chief executive of Topline Securities, who spoke to Dawn.com, the recent decline was mostly brought on by a lack of confidence in the currency market due to the IMF’s delayed financing.

The “crackdowns on currency merely reinforced the grey market”
According to Zafar Paracha, secretary general of the Exchange Companies Association of Pakistan (ECAP), Pakistan was urged by the IMF to exchange dollars at the going rate for commerce with Afghanistan.

In other words, they had stated that rather than the interbank rate or the open market, our true rate should be the grey market rate. They are correct since the only location where trading in dollars now occurs is on the black market, he continued.

He claimed that because of limitations put in place by the government on foreign exchange, trading moved to the black market.

The numerous limitations they have placed on foreign exchange businesses regarding the buying and selling of the dollar, he claimed, prevent the currency from rising or falling.

He said that despite government crackdowns [on the grey market], this is still the case. Asserting that carrying out crackdowns would not assist, Paracha urged for a revision of the policies.

“Unintentionally, our policies have substantially aided the grey market. The IMF is aware of this as well, and has advised us to get our exchange rate between the rupee and the dollar to that level,” he continued.

The currency has been plunging in recent days amid delays in an agreement between Pakistan and the International Monetary Fund, which they have been discussing since early last month.

One of the things the IMF wants Pakistan to do is switch to a market-based currency exchange rate system. If the IMF’s board approves this measure, a financing tranche of over $1 billion that has been held up since late last year over a policy framework will be released.

The lender’s requirements are designed to make sure Pakistan reduces its fiscal deficit before presenting its annual budget in June.

But, the budgetary changes required by any agreement are expected to increase the already record-high inflation rate, which reached 31.5 percent in February.

The IMF has also asked Pakistan to increase policy rates and fulfil bilateral and multilateral external funding obligations.

China, Pakistan’s longtime friend, is the only nation to have refinanced $700 million to Islamabad.

At an off-cycle meeting on Thursday, the Pakistani central bank is generally anticipated to increase its benchmark policy rate by 200 basis points, according to a Reuters poll.


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