In pursuit of economic stability and fiscal responsibility, Pakistan is targeting a tax-to-GDP ratio of 15 per cent in its forthcoming International Monetary Fund (IMF) deal.
Sources within the Finance Ministry revealed that measures are being taken to maintain state bank reserves equivalent to three months of import bills.
The ministry has outlined a comprehensive strategy, including the reduction of the current account deficit and the preservation of a surplus in the primary balance.
It is anticipated that a new agreement with the IMF will be signed upon the expiration of the current deal, with a commitment to fulfilling specified conditions before finalising the agreement.
Today, the International Monetary Fund expressed its willingness to collaborate with the new Pakistani government, overlooking the demand from Pakistan Tehreek-e-Insaf (PTI) founders for an audit of election results prior to approving any new loan for Islamabad.
Bloomberg News reported yesterday that Pakistan is planning to seek a new loan, estimated at a minimum of $6 billion, from the IMF to address imminent debt repayment obligations.
The negotiations for an Extended Fund Facility with the IMF are expected to commence in March or April.
Having successfully avoided default last summer through a short-term IMF bailout, Pakistan now faces the task of negotiating a long-term arrangement as the existing programme expires next month. The country’s $350 billion economy hinges on the stability provided by such arrangements.
Prior to the bailout, Pakistan implemented a series of measures mandated by the IMF, including budget revisions, an increase in the benchmark interest rate, and adjustments to electricity and natural gas prices.
The IMF continues to engage in dialogue with Pakistani authorities regarding essential longer-term reform efforts.
A spokesperson for the fund affirmed its readiness to support the post-election government through a new arrangement, addressing the ongoing challenges faced by Pakistan.
Gold rates in Pakistan experienced a significant decrease on Friday, mirroring the decline observed in the international market.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the yellow metal was priced at Rs214,100 per tola after shedding Rs1,200 during the day.
The 10-gram gold rate also witnessed a decrease, with prices dropping to Rs183,556 after a decline of Rs1,029, as reported by the APGJSA.
This reversal follows a slight increase in gold prices on Thursday, where rates had gone up by Rs100 per tola in Pakistan.
However, the international market experienced a decline of $11, resulting in a $20 premium on the international gold rate, which was set at $2,040 per ounce on Friday.
The APGJSA further reported that the silver rate remained stable at Rs2,570 per tola in Pakistan.
The fluctuation in gold prices is attributed to the dynamic nature of the global market, where various economic factors and geopolitical events can influence the demand and supply dynamics of precious metals. Investors and consumers are advised to stay updated on market trends and consult with financial experts for informed decisions.
It is essential to note that gold and silver rates can be subject to change rapidly, and individuals are encouraged to monitor the market closely for real-time updates.
Farmers are protesting from India to Europe, separately, for their rights and to register their rebellion with sitting governments against soaring fuel, and fertilizer costs, lower prices of their produce, and restrictive regulations. The protests are shedding light on the very pertinent issues faced by the primary food-producing sector of countries owning big agricultural markets.
Demands of Greek farmers
Farmers in Greece are protesting across the country against rising costs. They are conducting a tractor rally all across the country. Manolis Liakis, a farmer from the southern island of Crete, talked to __ and singled out fuel costs as his biggest problem. He said farmers pay more than three times as much for petrol as shipping companies due to tax disparities. Farmers can’t sell their products “for ridiculously low prices while the consumer buys them at extremely high prices”, he said.
Demands of Polish farmers
In Poland, farmers are blocking roads to stop cheap grain imports crossing the border from Ukraine. They are demanding a “complete embargo” on Ukranian produce. During the protests on Tuesday against competition from imports of cheaper Ukrainian products, farmers in Gorzyczki, southern Poland, unfurled a banner saying “Putin, get Ukraine, Brussels, and our government in order”. Consequently, the farmers were warned by the government against raising the slogans.
Demands of Spanish farmers
Spanish farmers are gathering with hundreds of tractors in tow to protest against the unfair competition from outside the European Union. They want to include production costs in the end product so they don’t end up selling their goods at a loss. Additionally, they want imported products to be subjected to the same conditions that they have to face.
Demands of French farmers
French farmers blocked a milk transport in protest against wholesale prices they say are too low. The farmers’ unions have made it clear they want ironclad assurances that their grievances over produce prices and red tape have been addressed. French Prime Minister Gabriel Attal is trying to negotiate and pacify the raging farmers with the negotiations.
Demands of Czech farmers
In Prague, farmers are on the roads because they feel neglected in the policy-making process. After all, they are not given due attention by the government. “Around 3,000 tractors took to the streets,” The Czech Chamber of Agriculture said in a statement on the nationwide protests. Their demands included an end to restrictions on agricultural production, cutting red tape for farming, and introducing changes to the EU-Ukraine arrangements on farming imports.
Demands of Italian farmers
In Rome, cowbells are clanking with the message that Farmers feed the world, but can’t afford to farm.
Demands of Indian farmers
In India, massive protests have broken out over minimum crop price guarantees which were promised nearly a year ago but not implemented by the government. Thousands of Indian farmers riding tractors attempted to resume their push towards New Delhi. They were attacked by the police claiming the life of young farmer Shubhkaran Singh and injuring 25 others. Farm unions are demanding a law to set a minimum price on all crops, expanding a government scheme that already exists for staples, including rice and wheat. They have also demanded other concessions, including the waiving of loans and universal pensions for farmers aged 60 and above.
Concerns of Canadian Farmers
In Canada, there are fewer environmental regulations but farmers feel a disconnect with the central government whose main mandate is based on the environment. They have been pushing forward all kinds of policies about fertilizer reduction and disallowing certain pesticides. The green policies and higher costs have instead of favouring them making farmers feel ignored. Experts say the consumers feel that lower output prices and higher input prices are just a way for the government to tell them that do whatever they want but in a cleaner and environmentally friendly way.
Conclusion
Protesting farmers are trying to divert attention to the most neglected yet important sector of a country which is the food-producing sector which is the backbone of both the society and the economy of the country yet remains ignored by the political class for their vested interests.
Asim Azhar is about to release a new song. The ditty is about love and heartbreak, and Sajal Aly stars in the video. This is the second time they’ve appeared together after working on ‘Sinf e Aahan.’
Here’s the new song ‘Saiyyan’ that just came out. This is what people are saying about it:
Here’s the new song ‘Saiyyan’ that just came out. This is what people are saying about it:
Liaqat Ali Chatha, the ex-Rawalpindi commissioner, who made explosive allegations about the alleged manipulation of the February 8 polls in favour of Pakistan Muslim League-Nawaz (PML-N) candidates but later withdrew them, has now claimed that PTI’s top leadership planned the entire rigging propaganda.
He said in his official statement on Thursday that “After the incident of May 9, 2023, as with other leadership of Pakistan Tehreek Insaaf (PTI), the said prominent leader of Pakistan Tehreek Insaaf (PTI) also absconded from courts, was declared as a Proclaim Offender (PO) and has been hiding. Throughout this time, I had direct contact with him, and I kept on discreetly helping him on various issues. Consequently, my relationship with the prominent Pakistan Tehreek Insaaf (PTI) leader evolved into a very close friendship based on a high level of trust.”
Further adding that he also stated, “After the General Elections (“GEs”) of 2024, on 11February 2024 I secretly and discreetly travelled to Lahore and held a meeting with him. It was in this meeting, that he made an offer to me that if I played a role in supporting the Pakistan Tehreek Insaaf’s (PTI) ongoing narrative of rigging in general elections (“GEs”) and maligning state institutions, he would ensure a lucrative position for me in future. He informed me that this entire plan had been formulated after consultation and approval of the senior leadership of Pakistan Tehreek Insaaf (PTI).”
He goes on to elaborate that the two had a detailed discussion on the proposed press conference. “He conveyed to me the general direction which was needed to be adopted. Initially it was proposed by me that I would write the entire narrative and submit the same as part of my resignation. However, this proposal was dropped by the said prominent Pakistan Tehreek Insaaf (PTI) leader as such written resignation would not create any sensations for their narrative building. After detailed discussions, it was agreed that a press conference would be conducted by me at a time and date to be conveyed after consultation and approval of the senior leadership of Pakistan Tehreek Insaaf (PTI).
He further mentioned that “The primary aim of this proposed press conference was to create sensations and drama augmenting false narratives being built by the Pakistan Tehreek Insaaf (PTI).”
“The name of the Chief Justice of Pakistan was taken with the aim of creating mistrust in general public against him. The Chief Justice of Pakistan did not have any role in the entire election process. However, I was specifically asked by said prominent leader of Pakistan Tehreek Insaaf (PTI) to name the Chief Justice of Pakistan (CJP). He told me that he had been specifically asked by his top leadership to do so. The aims behind naming the Chief Justice of Pakistan (CJP) were manifold. I was told that it would help in creating the momentum of this entire narrative as Pakistan Tehreek Insaaf (PTI) had already been sowing seeds of doubts and distrust in the public minds against the Chief Justice of Pakistan (CJP),” the ex-Rawalpindi commissioner added.
Bollywood actor Shahid Kapoor revealed that he has quit smoking for his daughter Misha. Bollywood actor Shahid Kapoor appeared on ‘No Filter Neha’, hosted by Bollywood actress Neha Dhupia. During the show, Neha asked him about quitting smoking.
“I quit smoking a few years ago, after the birth of my daughter Misha. Before that, I used to smoke secretly away from my daughter.”
He explained, “I quit smoking because I didn’t want to hide and smoke in front of my daughter. That’s the main reason why I decided to quit smoking.” The Bollywood superstar shared, “One day, I was hiding and smoking in front of my daughter when suddenly I realized I didn’t want to do this anymore. That was the day I decided to quit smoking.”
Shahid Kapoor got married to Mira Rajput in 2015, and they have two children, a son named Zain and a daughter named Misha.
Youtuber Imran Riaz Khan is under arrest once again and Pakistanis have a lot to say
The reason for YouTuber Imran Riaz Khan’s arrest is currently disputed. The journalist was arrested Thursday night.
Here are three possibilities behind his arrest:
1. Earlier, Federal Investigation Agency’s (FIA) Cybercrime Wing had summoned Khan and journalist Asad Toor, for allegedly being a part of an anti-judiciary campaign on social media platforms, calling them to appear on February 23.
2. According to court reporter A. Waheed Murad, Imran Riaz has been summoned by Lahore court to present his defence for taking the Darabi Lake contract along with his father in Lahore court.
Let the world know that Pakistani journalist Imran Riaz Khan @ImranRiazKhan has been illegally arrested once again.
Mr. Khan suffered enforced disappearance & custodial torture for many months, at the hands of the illegitimate, authoritarian, fascist regime.
3. While his detention is being condemned, he is being criticised for recently resharing an inflammatory post on X (formerly Twitter) regarding the Supreme Court of Pakistan’s decision to grant bail to a member of Ahmadiyya community which sparked severe backlash.
Khan is being criticised for further inciting hate and violence by resharing a hateful post.
Even though the original post was deleted, his apparent endorsement remains condemnable.
Imran Riaz Khan and all others twisting facts to push fake blasphemy charges against CJP should be ashamed of themselves. Those who cannot learn empathy even after undergoing suffering should be deemed cruel and hopeless.
Every-time I try to sympathise with this bigot of a cult, they show that they deserve none. Imran Riaz Khan has been lawfully arrested for hate speech and inciting a false campaign against the CJP. The propaganda you think you can enjoy propagating, will consume you too. https://t.co/7I9IJX3MNr
No sympathy for a bigot like Imran Riaz Khan who willingly tried to put Justice Qazi Faez Isa’s life in danger by using religion. We still remember how this hypocrite blamed Noor Muqaddam for her murder‼️
As expected, the vile unfounded blasphemy campaign against QFI has spread like wildfire. Pro-PTI journalists like IKR & Jan openly fanning the flames & religious parties entering the fray. These are lies that can cause deadly violence. Need saner heads to reign in these impulses.
Pakistan Tehreek-e-Insaf (PTI) leader Barrister Ali Zafar said on Thursday that PTI founder Imran Khan will write a letter to the International Monetary Fund (IMF) to bring attention to alleged rigging in the general elections held on February 8.
“IMF, European Union, and other organisations have their charter that says these organisations will work in a country where there is good governance. For good governance, a country needs to have democracy that requires free and fair elections,” Ali Zafar said while speaking to media outside Adiala Jail.
The PTI leader and lawyer also alleged that the people’s mandate was stolen, and those who were losing on February 8 were declared winners the next morning.
“Democracy cannot be run with this fake mandate,” he said, adding that “no organization can give loans to a country where elections are rigged.”
The prominent lawyer also said that, through a letter, the PTI founder will request that the IMF to send a monitoring team to look at the matter of poll rigging first and then give loans to Pakistan.
He also mentioned that “any loan to the government that doesn’t have people’s mandate will not be in favour of Pakistan.”
A series of five T20 matches between Pakistan and New Zealand is scheduled to be played in April. The T20 series is likely to be held between April 13 and 23, and the cricket boards of both countries have started discussions about arrangements.
Sources say that the five T20 matches between Pakistan and New Zealand will be played in Lahore and Rawalpindi.
Geo news has said that the West Indies women’s cricket team is scheduled to come to Pakistan in the second week of April and Karachi is scheduled to host the series of the West Indian women’s cricket team.
Tom Cruise and his girlfriend Elsina Khayrova, who lives in Britain but is originally from Russia, have reportedly broken up. According to reports, Elsina, 37, who is well-known in London’s social circles, and Cruise, 61, seemed to have a close relationship. However, they broke up during a recent meeting in London earlier this month.
It’s reported that Tom Cruise met Khayrova’s children earlier this week. Elsina and her ex-husband got divorced in 2020. The couple attended a charity gala dinner in London separately, supporting the Air Ambulance Charity. Tom Cruise and Elsina Khayrova were neighbors in the same London block, and their friendship began last year.
