Current Final

Author: News Desk

  • Ishaq Dar presents mini-budget in National Assembly to meet IMF conditions

    Ishaq Dar presents mini-budget in National Assembly to meet IMF conditions

    A crucial tax amendment bill to fulfil the conditions of the International Monetary Fund (IMF) to revive a stalled loan programme that the country needs to stave off default was presented in both houses of parliament on Wednesday.

    Finance Minister Ishaq Dar introduced the Finance (Supplementary) Bill 2023 first in the National Assembly and then in the Senate.

    The Pakistani government approved a proposal last night to increase the general sales tax (GST) rate from 17 to 18 per cent and to raise the Federal Excise Duty (FED) on cigarettes. The aim is to generate an additional Rs115 billion out of Rs170 billion, which was agreed upon by Pakistan in accordance with the IMF conditions.

    Through the implementation of the “mini-budget,” led by the Pakistan Democratic Movement (PDM)-led government, the country intends to reduce the budget deficit and enhance its tax collection efforts to meet the conditions set by the IMF, a Washington-based lender.

    The National Assembly will not be referring the bill to the Standing Committee on Finance and Revenue for further review, while the Senate has sent the legislation to the relevant committee. Officials at the Ministry of Finance have stated that they anticipate the bill to be passed by Thursday morning, which will allow for the receipt of funds not only from the IMF but also from other multilateral and bilateral sources.

    Last week, Pakistan and the International Monetary Fund (IMF) were unable to reach an agreement, and the visiting IMF delegation left Islamabad after 10 days of talks. However, negotiations are set to continue. The Pakistani economy, valued at $350 billion, is in dire need of financial assistance as it grapples with a severe economic crisis.

    In an effort to appease the IMF, the government initially intended to implement the fiscal measure via an ordinance. However, President Dr Arif Alvi recommended that the administration obtain the parliament’s approval instead.

    During his address to the lower house, Finance Minister Dar highlighted the unprecedented crises the nation is currently facing due to the “substandard” policies of the Pakistan Tehreek-e-Insaf (PTI) government. In contrast, the country had experienced economic growth during the previous government led by the Pakistan Muslim League-Nawaz (PML-N), during which the Gross Domestic Product (GDP) had increased by $112 billion.

    “The PML-N always tries to take fewer loans. Foreign investment had also increased during PML-N’s tenure. In contrast, during the PTI’s government, the loans hit record highs, and a common man’s income also plunged.”

    According to Geo, the finance minister stated that in addition to the challenges that the current government is confronting as a result of the Pakistan Tehreek-e-Insaf’s (PTI) policies, the country suffered losses exceeding $8 billion due to last year’s floods.

    “But, we should always prefer the state over politics,” he reiterated — the mantra that PDM leaders have time and again propagate as they face an uphill task on the economic front.

    This is a developing story…

  • Sar-e-Rah empowers the way independent women inspire each other

    Sar-e-Rah empowers the way independent women inspire each other

    If the first episode of Sar-e-Rah was about the impact one woman makes when she stands up for herself, the next episode shows us how she can keep on inspiring women from different backgrounds to take a stand for themselves.


    In this episode, our protagonist Rabia meets Dr Muzna, a woman who has longed for a child has kept her husband’s infertility a secret from the rest of their family. Muzna faces the burden of this secret because of the taunts her mother-in-law gives her for not being able to give the family a child, and because she decides to go back to her job and refuses to abandon her practice.

    In this episode, Sar-e-Rah explores how empowered women who broke away from the shackles of patriarchy are able to recognize the burden society puts on women who chose alternative paths towards motherhood. In one scene, when a grandmother and her child scold Muzna in a cafe for bringing her newborn child along with her, Rabia takes a stand by telling them that Muzna did a noble thing by choosing to give shelter to a child that had been abandoned.

    In the rest of the episode, we watch the two women find solace in one another as Muzna faces opposition from her husband and mother-in-law for choosing to adopt a baby with taunts telling her that bringing home another woman’s child won’t make her a mother, but Razia keeps reminding her that what she is doing is quite noble. Their wholesome bond remains steady as Rabia helps Muzna in facing her husband and the rest of the family, and also to search for the mother’s child.

    https://twitter.com/lattedeprresso/status/1625468993975853062?s=20&t=winx6AlTJw6UDtjZu27pYA

    At a time when triggering topics like domestic violence, child abuse and forced marriages are not treated with the sensitivity and depth they deserve, it is heartening that a show like Sar-e-Rah isn’t shying away from exploring such tabooed topics and reminding women that they can find the strength they needed in each other.

  • Nida Yasir can’t remember what year the ’92 world cup took place in this viral interview

    Nida Yasir can’t remember what year the ’92 world cup took place in this viral interview

    Nida Yasir surely knows how to make an interview memorable. She went viral last year for not knowing how Formulae 1 cars work but this time, her gaffe is even more hilarious.

    In an interview on ‘The Shoaib Akhtar Show’ on Urduflix, host Shoaib Akhtar conducted a round where he asked quick questions from guests Nida Yasir and Shahista Lodhi. When it was Yasir’s turn, she was asked: “What year did Pakistan win the ’92 world cup?” And Yasir’s reaction went viral

    Soon a string of memes launched after Twitter got hold of this clip.

    https://twitter.com/humatabassum/status/1625782121926098946?s=20&t=UJM6goprUS9TFzEndmeqxQ

  • Islamabad ATC rejects Imran’s bail in ECP protest case

    Islamabad ATC rejects Imran’s bail in ECP protest case

    An Anti-Terrorism Court (ATC) in Islamabad has rejected Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s request for an extension in his interim bail. The plea was made in a case pertaining to a protest outside the Election Commission of Pakistan (ECP) following its decision in the Toshakhana case.

    During today’s hearing, Imran’s lawyer Babar Awan told the court that Imran tried to travel to Islamabad but could not.

    Awan highlighted that the additional sessions judge had granted interim bail to the PTI chief till February 27.

    Awan requested the court to extend the bail, adding that Khan had tried to come but could not travel.

    Islamabad ATC orders Imran Khan to appear in person today

    An Islamabad Anti-Terrorism Court (ATC) on Wednesday ordered Khan to appear in person before the judge by 1:30pm today.

    During the hearing today, ATC judge Raja Jawad Abbas Hassan rejected his request for exemption from appearance on medical grounds.

    “Imran Khan should appear in court by 1:30pm,” he ordered.

    Earlier, an Islamabad banking court also refused Imran’s exemption request in the prohibited funding case against his party and instructed him to appear before the judge in person today.

    “Imran Khan should appear in the court before 3:30pm today,” Special Judge Banking Court Rakhshanda Shaheen said.

    “If he fails to do so, the law will take its course,” she added.

    At the previous hearing, the court had granted the PTI chief a last opportunity to appear on February 15.

    Khan has been in Zaman Park, his Lahore residence, since he was shot on November 3, in Wazirabad, while leading a protest march towards Islamabad.

  • Govt to present Finance Bill 2023 today to fulfil IMF conditions

    Govt to present Finance Bill 2023 today to fulfil IMF conditions

    The federal government has been forced to head to parliament after President Arif Alvi ‘adv­ised’ Finance Minister Ishaq Dar on Tuesday to take parliament into confidence over the Rs 170 billion in new taxes that are being levied.

    As per the agenda, the National Assembly will meet at 3:30pm and Finance Minister Senator Ishaq Dar will present the Finance Supplementary Bill, 2023 in the lower house.

    A session of the Senate has also been summoned at 4:30pm to move the bill there as well so the document can be sent to President Dr Arif Alvi immediately for assent.

    Prime Minister Shehbaz Sharif, who didn’t attend the last session, will be present during today’s meeting.

    The governm­ent had initially planned to introduce “tax and non-tax mea­­sures” to generate funds to the tune of Rs 170 billion. However, in a last-minute change, it decided to drop proposals pertaining to non-tax measures, particularly the flood levy to the tune of Rs 100 billion.

    In a late-night development, the Federal Board of Revenue (FBR) issued SRO178 to enhance a federal excise duty on locally manufactured cigarettes which would generate up to Rs 60 billion in taxes on tobacco products.

    The government will generate Rs 55 billion more through a 1 per cent increase in GST – from 17pc to 18pc. The remaining Rs 55 billion will be collected through an increase in excise duty on airlines tickets, sugary drinks and an increase in withholding tax rates.

    Dar had called on President Alvi to apprise him about the talks with the IMF for the revival of the programme.

    The government decided to approach the Parliament after President Dr Arif Alvi gave the government a cold shoulder on bringing the mini-budget via an ordinance in his meeting with Dar.

    “The president advised that it would be more appropriate to take parliament into confidence on this important subject, and that a session be called immediately so that the bill is enacted without delay,” a statement issued by the President House said after the meeting.

  • ‘Extreme volatile situation of Pakistani rupee’ forces Toyota to announce third price hike of 2023

    ‘Extreme volatile situation of Pakistani rupee’ forces Toyota to announce third price hike of 2023

    Indus Motor Company (IMC), the manufacturer of Toyota vehicles in Pakistan, has increased prices for its CKD vehicles lineup by upto Rs890,000.

    The price hike has been attributed to “economic uncertainties and volatility of Pakistani rupee”, according to a notice sent to dealer principals, CEOs, and sales heads by the company.

    Below are the new prices:

    VariantOld Price (Rs)New Price (Rs)Increase (Rs)
    Yaris GLI MT 1.34,079,0004,279,000200,000
    Yaris GLI CVT 1.34,339,0004,549,000210,000
    Yaris ATIV MT 1.34,309,0004,519,000210,000
    Yaris ATIV CVT 1.34,529,0004,749,000220,000
    Yaris ATIV X MT 1.54,649,0004,869,000220,000
    Yaris ATIV X CVT 1.54,929,0005,169,000220,000
    Corolla Altis X MT 1.65,269,0005,529,000260,000
    Corolla Altis 1.6 X CVT-i5,749,0006,059,000310,000
    Corolla Altis 1.6 X CVT-i SE6,319,0006,659,000340,000
    Corolla Altis Grande X CVT-11.8 Beige6,609,0006,939,000330,000
    Corolla Altis Grande X CVT-i1.8 Black6,649,0006,979,000330,000
    Revo V AT 2.812,239,00012,859,000620,000
    Revo V AT Rocco12,899,00013,559,000659,100
    Fortuner 2.7 G Petrol13,419,00014,109,000690,000
    Fortuner 2.7 V Petrol15,359,00016,159,000800,000
    Fortuner 2.8 Sigma 4 Diesel16,189,00017,029,000840,000
    Fortuner Legender Diesel17,069,00017,959,000890,000

    The notice explained that the current volatile situation of Pakistani rupee against the US dollar has adversely affected the manufacturing cost of IMC, making it extremely difficult for the company to hold the current indicative retail selling prices.

    Hence, the company has decided to pass on some impact to the market. The notification stated that the prices are subject to change and prices prevailing at the time of delivery shall continue to be applicable on all orders.

    Any change in government levies and taxes (including federal excise duty, sales tax, and CVT, etc), tariffs, fiscal policies, import policies, etc., will be borne by the customers. This is the third time since January 2023 that the company has raised the prices of its CKD vehicles lineup.

    The first price hike was introduced on January 12, followed by another price increase later last month. The auto industry has been significantly impacted in recent months, with companies shutting down production plants due to the unavailability of imported raw materials and restrictions imposed by the government to curb imports.

  • Petrol, diesel prices expected to increase by more than Rs32 per litre from tomorrow

    Petrol, diesel prices expected to increase by more than Rs32 per litre from tomorrow

    The prices of petroleum products are expected to increase by more than Rs32 per litre from February 16th, due to fluctuations in the US dollar exchange rate. The current price of petroleum, oil and lubricants is set at Rs236.40 per dollar, which equates to Rs271.82 for the next fortnight. It’s worth noting that free-on-board Platt prices have seen a decline when compared to last fortnight’s pricing.

    Official and industrial sources have indicated that the price of Mogas is expected to increase by 12.8 per cent per litre, or by Rs32.07, resulting in a new price of Rs281.87 from the previous price of Rs249.8 per litre. The price of diesel is also set to rise by 12.5 per cent, or by Rs32.84, to reach Rs295.64 per litre, up from the previous price of Rs262.8 per litre.

    Kerosene oil is predicted to increase by 14.8 per cent, or by Rs28.05, bringing the new price to Rs217.88 per litre. Additionally, light diesel oil (LDO) could go up 5.3 per cent, or by Rs9.90, resulting in a new price of Rs196.90 per litre from Rs187 per litre set in the last review.

    According to The News, based on current government taxes and estimated Pakistan State Oil (PSO) incidentals, the prices mentioned above are projected. However, there is a possibility of the government adjusting the exchange rate to over Rs251, which could result in an increase of Rs15 per litre for both Mogas and diesel products. Moreover, the petroleum levy for diesel, currently standing at Rs40, may increase by Rs10 to reach Rs50 from February 16th.

    The government had set a target of earning Rs850 billion by imposing a petroleum levy on petroleum, oil, and lubricants. However, there is an estimated shortfall of Rs250 billion, and the authorities are hoping to collect a revenue of Rs600 billion.

    It’s worth noting that the government had implemented a significant increase of Rs35 per litre from February 1st, 2023, until February 15th. Presently, the government is charging Rs50 per litre as a petroleum levy, and the general sales tax (GST) has not been imposed yet.

    According to an official, the losses incurred by the refineries and oil marketing companies (OMCs) due to the exchange rate will be eliminated in a phased manner, as the government does not wish to burden consumers with the entire exchange rate at once.

    The federal government’s last review of petroleum product prices took place on January 29, 2021.

    At present, Pakistan is experiencing a shortage of petrol, with the province of Punjab, which has the largest population, bearing the brunt of the crisis. Petroleum dealers have been blamed for the situation.

    Additionally, it has been alleged that hoarders are stockpiling petrol in anticipation of a price hike scheduled for February 15th (today).

  • Ready to mingle but still single? Head over to Philippines to get extra pay

    Ready to mingle but still single? Head over to Philippines to get extra pay

    Tootay huay dil jaain kahan? Philippines. If you’re dateless on Valentine’s Day, then Philippines might is the place for you. There might be an advantage to finding out that you’re dumped before the biggest romantic holiday of the year, by drowning in cash.

    The lonely hearts residing in General Luna townhall in the Quezon Province will now recieve three times their normal wage if they are able to prove that they were single for the past three years.


    Eternal bachelor Mayor Matt Florido announced that he would be giving extra pay to all of his staff to show gratitude for all the extra work they put in and prove that “someone loves them”. This is the third time he is taking such an initiative.

    Speaking to AFP, Florido said that he could empathize with how singles felt about this day, since he has been single himself since his birth.
    “I know what they’re going through today, I feel for them.. On Valentine’s Day no one will give them chocolates, flowers … so we thought of giving them this kind of incentive so they can also feel someone cares for them, someone loves them.”

    Florido also added that the staff members who were already romantically attached did not object to their single colleagues getting more pay:

    “Maybe they understand what the single people are going through,” he said.

  • Feeling lonely today? Rent a boyfriend for this Valentine

    Feeling lonely today? Rent a boyfriend for this Valentine

    Valentine’s Day is still not over so if you are looking for someone to accompany you, don’t worry, a man in India has got your back!

    The man is offering ‘dating services’ to anyone looking for a partner this Valentine’s Day.

    Shakul Gupta, a 31-year-old techie from Gurugram, has offered his “boyfriend on rent” services for Valentine’s Day this year to single ladies.

    In an Instagram post, he said that he is providing dating services to unmarried ladies to alleviate loneliness during Valentine’s Week. He further stated that his goals are not commercial or physical in nature.

    Shakul revealed that he began offering dating services to ladies approximately 5 years ago and that he has gone on over 50 dates with women and has enjoyed spending time with them.

  • Bilawal says Imran can talk to terrorists but not lawmakers, urges politicians to unite

    Bilawal says Imran can talk to terrorists but not lawmakers, urges politicians to unite

    Foreign Minister Bilawal Bhutto-Zardari on Monday urged all political parties to come to a single page to overcome the crises that the country is facing right now.

    Bilawal claimed that Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s and his party’s inability to take matters seriously was damaging not only for the Opposition but also for the entire country and democracy.

    “He [PTI chief Imran Khan] says that he can sit with terrorists for talks but not with parliamentarians,” said Bilawal.

    “We [all political parties] will have to unite on a minimum common agenda to rid the nation of crisis,” the Pakistan People’s Party (PPP) chairman said while addressing the inaugural event of his party’s initiative to celebrate 2023 as the Golden Jubilee Year of the Constitution.

    “If all political parties agree on a Code of Conduct, we can overcome the crisis and chart a path to progress,” he added.

    “But if every party decides it will neither play nor allow others to play, the nation will be the ultimate loser,” warned Bilawal.

    Emphasizing that this is the last chance for political parties to save the country, Bilawal said that if they failed to do so, history won’t be kind to them.

    Speaking to Dawn, PTI leader Fawad Chaudhry said, “I won’t rule out the possibility of my party’s participation in any dialogue proposed by Bilawal. But I advise him not to become a part of the government’s ‘unconstitutional’ acts”.

    Fawad further said that the establishment and all political parties must sit together and give some space to each other.