Current Final

Author: News Desk

  • Finance Ministry responds to IMF’s concerns on budget, pledges commitment to programme

    Finance Ministry responds to IMF’s concerns on budget, pledges commitment to programme

    The International Monetary Fund (IMF) has publicly raised reservations regarding Pakistan’s budget, prompting a response from the Finance Ministry. The ministry clarified that the budget is not part of the pending ninth review, which has been delayed since November of last year. However, it emphasised its commitment to finding an amicable solution through ongoing engagement with the IMF.

    In a statement addressing the IMF’s concerns, the ministry highlighted the completion of the ninth review in early February 2023, with all technical issues promptly addressed. The only outstanding matter was external financing, which was resolved after discussions between Prime Minister Shehbaz Sharif and the IMF managing director.

    The ministry clarified that although the FY24 budget was not part of the ninth review, it shared the budget numbers with the IMF mission in line with the prime minister’s commitment. Continuous engagement with the IMF, including discussions on the budget, is ongoing.

    Addressing the IMF’s concerns about broadening the tax base, the ministry noted the addition of 1,161,000 new taxpayers by the Federal Board of Revenue (FBR) over the past 11 months. It emphasised that efforts to expand the tax base will continue, highlighting the introduction of a 0.6 per cent advance adjustable withholding tax on cash withdrawals over Rs50,000 as a significant step.

    The ministry defended the tax exemptions announced in the budget, describing them as catalysts for growth in the real sectors of the economy. It assured that the budget provides targeted subsidies for families with a PMT scorecard of up to 40, not limited to the Benazir Income Support Programme (BISP) beneficiaries.

    Regarding the amnesty measures, the ministry explained that the only change made was to “dollarize” the value of an existing provision in the IT Ordinance. It clarified that this facility has always been available and that the cap of Rs10 million ($100,000 approximately) introduced in FY2016 is being resolved based on the rupee equivalent of $100,000.

    The ministry reiterated its full commitment to the IMF programme and eagerness to at least complete the ninth review. It emphasised the government’s willingness to make difficult decisions and engage with the IMF to find an amicable solution.

  • iPhone manufacturer Foxconn shifts focus to electric cars amidst US-China strained relations

    iPhone manufacturer Foxconn shifts focus to electric cars amidst US-China strained relations

    Taiwanese manufacturer Foxconn, renowned for its production of iPhones, has announced a strategic shift towards electric vehicles (EVs) amidst the strained relations between the United States and China.

    In an interview with the BBC, Chairman Young Liu conveyed the company’s intent to make substantial investments in the EV sector while concurrently diversifying its supply chains away from China.

    Liu acknowledged the importance of peace and stability between the two nations but emphasised the necessity, from a business standpoint, to consider contingency plans for adverse scenarios.

    In response to the prevailing geopolitical tensions, Foxconn has already commenced the relocation of certain production lines from China to alternative locations in Mexico and Vietnam.

    This decision comes as Foxconn finds itself embroiled in a contentious dispute, with Beijing claiming Taiwan as part of China and President Xi Jingping reiterating commitments to “reunification.” Meanwhile, the United States has expressed unequivocal support for Taiwan’s independence, with the looming specter of invasion having cast a shadow over the island nation for years.

    Having originated in 1974 as a manufacturer of television dials, Foxconn has emerged as a global technology powerhouse, amassing revenues of $200 billion. Responsible for over half of Apple’s product output, including iPhones and iMacs, the company also serves an array of esteemed clients such as Microsoft, Dell, and Amazon.

    Foxconn’s unique position as a company that designs products in the United States while predominantly manufacturing them in China has left it navigating a delicate equilibrium between the two global superpowers.

    Chairman Liu articulated his vision of capturing approximately 5 per cent of the global electric vehicle market within the coming years. He outlined plans for establishing Foxconn EV manufacturing facilities in Ohio, United States, as well as in Thailand, Indonesia, and potentially India.

    By pivoting toward electric cars, Foxconn seeks to leverage its technological prowess and industry influence to secure a significant stake in the evolving EV landscape.

  • Imran Khan’s former principal secretary goes missing

    Imran Khan’s former principal secretary goes missing

    Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan has said in a tweet that his former principal secretary Azam Khan has gone missing.
    “Azam Khan, who was my Principal Secretary, has gone missing since last evening. Anyone who was perceived to be close to me is targeted,” he wrote.

    In his tweet, Khan also condemned the attack on the residence of the former Governor of Punjab, Latif Khosa.


    “Also I strongly condemn the attack on ex governor Latif Khosa’s house last night just because he has been critical of the fascism unleashed on our nation,” he added.

    On Thursday night, unidentified persons attacked the residence of Latif Khosa, in the Defense area of Lahore.
    Latif’ Khosa’s driver got injured while he remained safe.
    The attacker managed to run away from the spot after firing.

  • Events of May 9 led to political death of PTI: Firdous Ashiq Awan

    Events of May 9 led to political death of PTI: Firdous Ashiq Awan

    The Central Secretary Information of Istehkam-e-Pakistan, Firdous Ashiq Awan, has said that the events of May 9 are the reason for the political death of Pakistan Tehreek-e-Insaf (PTI).


    In her statement, she said that she was away from politics for almost two years, stressing that it was difficult for her to stand with the PTI chairman Imran Khan and the party’s narrative.The former minister, once one of the most prominent faces of the then-ruling PTI said that when Imran was targeting his political rivals, she was standing by him but when he turned the direction of his cannons towards the armed forces of Pakistan, she became silent.


    She further added that there is economic and political instability as well as hatred for each other in the country.
    She added that doors are always open for PTI victims and Istehkam-e-Pakistan party is working for the stability of Pakistan.

  • Finance Minister Dar assures no global sanctions for Russian oil purchase

    Finance Minister Dar assures no global sanctions for Russian oil purchase

    Pakistan’s Finance Minister, Senator Ishaq Dar, has provided reassurances that Pakistan will not be subjected to global sanctions for its purchase of Russian oil. Dar made these remarks during a briefing to the Senate’s Standing Committee on Finance, highlighting that both India and China continue to purchase crude oil from Russia despite existing global sanctions.

    Dar emphasised that significant progress had been made in November of the previous year regarding the procurement of Russian oil, and the government had diligently completed all necessary preparations before proceeding with the purchase. He further explained that Pakistan adhered to an approved procedure established by a committee comprising G7 countries for oil production from Russia.

    Dar acknowledged the instrumental role played by Foreign Minister Bilawal Bhutto Zardari in consulting and obtaining approval from the G7 countries prior to the procurement of Russian oil.

    In terms of payment, the finance minister disclosed that the Chinese currency Yuan would be used for settling the payment for the Russian crude oil. He expressed Russia’s satisfaction with this arrangement, noting that it would not only reduce shipping costs but also lead to a decline in crude oil prices.

    When questioned about border trade with Iran, Dar confirmed that the government intended to enhance such trade but clarified that petroleum products were not included in these border trade activities.

    On Sunday, Pakistan successfully unloaded over 45,000 metric tons of oil from a Russian vessel that arrived at the Karachi port. Another Russian oil carrier is expected to reach the port of Karachi in the coming week.

    It is worth mentioning that earlier this week, the first ship carrying Russian oil had already docked at the Karachi port.

    During a press briefing on June 15, US State Department spokesperson Matthew Miller highlighted that every country has the right to make decisions based on its energy requirements. He further acknowledged that Russian oil was being sold at significantly lower prices compared to global market rates.

    Miller attributed this decrease in price to the limitations imposed by the US and its allies, resulting in Russia losing an estimated $100 billion in revenue that could have been used in the Ukraine conflict. Miller clarified that the US had not imposed any restrictions on Russian oil exports.

  • Pakistani film ‘Hum-Saya’ receives Best Short Documentary award at Venice Film Festival

    Pakistani film ‘Hum-Saya’ receives Best Short Documentary award at Venice Film Festival

    Director Dawood Murad’s venture ‘Hum-Saya’, produced by the Centre For Social Justice, has received the prestigious award for ‘Best Short Documentary on Human Rights’ at the Venice Intercultural Festival 2023. The film focuses on the story of two girls who are abducted, forcibly converted and then married off, while also exploring the turmoil their families undergo.

    In an Instagram post, the director revealed that the film will also be screened in Venice, Italy, on June 23 and later at Kellogg College, Oxford, on June 16.

    A recent report compiled by the Human Rights Commission of Pakistan found that in the year 2021, at least 60 cases of forced conversions were reported in the media, out of which 70% of the girls were under the age of 18 and were from Sindh.

    The data also revealed that blasphemy cases were on the rise in the country. In 2021 there were 585 blasphemy cases registered in Punjab, out of which 16 were filed against the Ahmadi community.

  • Babar Azam and co ready to dominate in LPL: auction data released

    Babar Azam and co ready to dominate in LPL: auction data released

    The player auction phase for the fourth edition of the Lanka Premier League (LPL) has concluded, revealing an exciting roster of Pakistani cricketers who will grace the event from July 31 to August 22.

    Thirteen Pakistani players will be in action, with three signing pre-auction agreements and ten securing their spots through the auction process. The B Love Kandy team made noteworthy acquisitions, securing Muhammad Hasnain for $34,000, Asif Ali for $30,000, Muhammad Haris for $20,000, and Amir Jamal for $10,000.

    Fakhar Zaman, a prominent Pakistani national player, inked a pre-auction agreement with the B Love Kandy team. Shoaib Malik and Zaman Khan were selected by the Jaffa Kings, with Malik fetching $50,000 and Khan earning $30,000.

    The Dambulla Ora team acquired Shahnawaz Dahani for $20,000, adding a talented asset to their lineup. Moving to the Colombo Strikers, they secured Iftikhar Ahmed for $50,000, Wahab Riaz for $40,000, and Mohammad Nawaz for $30,000. Additionally, captain Babar Azam and fast bowler Naseem Shah signed pre-auction contracts with the Colombo Strikers.

    Unfortunately, some players did not find buyers in the auction. Imad Wasim, Azam Khan, Faheem Ashraf, Sarfaraz Ahmed, Haider Ali, Umar Akmal and Sharjeel Khan were unable to secure contracts.

    The stage is set for an exhilarating LPL season, with these Pakistani players ready to showcase their talent and make an impact in the tournament.

  • Senator Talha Mahmood’s dedication shines through in Hajj 2023 preparations

    Senator Talha Mahmood’s dedication shines through in Hajj 2023 preparations

    Good news for this year’s pilgrims, as Federal Minister for Religious Affairs Senator Mr Muhammad Talha Mahmood has announced that after his tremendous hard work the Arrangement for Hajj 2023 has been successfully completed and pilgrims who participated in the government scheme will not incur additional costs for their sacrifices. Senator faced alot of obstacles to achieve this but with a clear vision and dedication he made it happen. With the constant efforts by the Senator, Pilgrims who had previously paid extra costs under the government scheme have been refunded successfully.

    Mr. Muhammad Talha Mahmood ensured all arrangements and facilities for the pilgrims under his supervision by working day and night. After countless meetings, committee hearings, and several interactions, the Senator made it happen. Furthermore, Hajj assistants will be responsible for offering food, accommodation, transportation and medical facilities to the Pakistani pilgrims. They will depart to Saudia Arabia in different groups along with the pilgrims.If it wasn’t for Mr.

    Muhammad Talha Mahmood, these productive changes in the arrangements of the Hajj wouldn’t be possible.

    The Senator emphasized the crucial role of Hajj assistants, who will accompany pilgrims in different batches to Saudi Arabia. These assistants have been entrusted with the responsibility of providing essential services such as food, accommodation, transportation, and medical facilities to the Pakistani pilgrims. Their presence and expertise will help alleviate any concerns pilgrims may have, allowing them to focus solely on their spiritual journey.

    Pakistan has been granted a quota of 179,000 pilgrims for this year’s Hajj. Among them, 85,000 pilgrims will perform Hajj in the public sector, while 89,000 will do so in the private sector. This allocation signifies the significance Pakistan holds in the global Muslim community, as well as the Senator’s commitment to ensuring that a broad spectrum of pilgrims can benefit from the government’s initiatives.

    Another initiative was taken by the Senator for the convenience of the Hajj pilgrims. Pilgrims leaving from Pakistan will be able to do the immigration at their respective airports. This will allow the official Hajj pilgrims to save time after arriving in the kingdom as they would be fulfilling all the immigration requirements at the airport of origin.

    Furthermore, the Senator has launched a complaint portal for all the participants where they can easily file complaints or make any suggestions. This new initiative was funded by the Senator personally, to efficiently solve, manage and receive the complaints. More than 10,000 complaints by Pilgrims were registered on the portal already and they were solved efficiently by

    the Senator. The senator emphasized that any negligence done by the pilgrim’s assistants would not be tolerated.

  • Senate passes amendment limiting disqualification to maximum of 5 years

    Senate passes amendment limiting disqualification to maximum of 5 years

    A bill seeking amendments to the Elections Act 2017 was passed by the Senate on Friday. As per the amendment, in cases where the duration of disqualification has not been specifically outlined, a person’s disqualification to run for provincial or central legislatures will not exceed five years.

    Any individual who is disqualified by a court ruling shall be excluded for a maximum of five years from the day the judgment is made public. The period of disqualification under Article 62(1)(f) cannot exceed five years.

    The Elections (Amendment) Bill 2023 was moved by State Minister Shahadat Awan .

    Another key amendment brought forth by the bill is the revision of 57(1) and 58(1)57(1) and 58(1) of the Election Act. The amendments give power to the Election Commission of Pakistan to announce election dates on its own.

    The amendments are as follow:

    Section 57(1): The commission shall announce the date or dates of the general elections by notification in the official gazette and shall call upon the constituencies to elect their representatives.


    Section 58: Notwithstanding anything contained in Section 57, the commission may at any time after the issuance of notification under subsection (1) of that section make such alterations in the election programme announced in that notification for the different stages of the election or may issue a fresh election programme with fresh poll date(s) as may in its opinion to be recorded in writing be necessary for the purposes of this act.

  • Bill Cosby accused of sexual assault by 9 more women

    Bill Cosby accused of sexual assault by 9 more women

    Disgraced Hollywood star Bill Cosby has been accused of sexual assault by nine more women, according to a lawsuit filed in Nevada. Al-Jazeera reports that the women claimed they were drugged and assaulted by ‘The Cosby Show’ star between the years 1979 and 1992.

    According to the complaint filed in the US District Court of Nevada, the survivors were attacked in dressing rooms, hotels and in Cosby’s various homes. The suit demanded the former star pay damages for sexual assault and battery.

    The lawsuit has arrived after Nevada changed its law regarding the statue of limitations for adult survivors of sexual abuse to pursue civil cases.

    The law had previously given survivors a two-year window to file civil charges. But on June 2, Governor Joe Lombardo signed a bill “Justice for Victims of Crime”- which was met with praise from survivors of sexual assault and rape.

    “For years, I have fought for survivors of sexual assault, and today is the first time I will be able to fight for myself,” said Lise-Lotte Lublin, a school teacher and former model who has long pushed for statutes of limitations to be broadened in sexual violence cases.

    Lublin had initially filed a case against Cosby in 2014, alleging that the former comedian had summoned her to his hotel in 1989 to learn acting techniques. She recalled Cosby giving her spiked alcohol to “help her relax”. Lubin revealed she quickly lost consciousness, only reawakening in her own bed later on, not knowing how she got there.

    More than 60 women had accused Cosby in 2018 in Pennsylvania of sexual assault and rape through the inclusion of drugs, and he was convicted for drugging and assaulting Andrea Constand in 2014. However, in 2021 the Pennsylvanian Supreme Court overturned this suit, citing the fact that the former star was denied protection against self-incrimination.

    The court had stated that Cosby had been denied his “due process rights” when the prosecuters had ensured him that he won’t be charged if he confessed during the testament. When he revealed that he gave women quaaludes during sex, it became the key testimony during the criminal case that was overturned.

    Cosby’s spokesperson, Andrew Wyatt, released a statement where he accused the women who filed a suit against Cosby of being motivated by their “addiction to massive amounts of media attention and greed.”

    “From this day forward, we will not continue to allow these women to parade various accounts … against Mr. Cosby anymore without vetting them in the court of public opinion and inside of the courtroom,”  Wyatt responded in a statement.