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  • World Bank urges urgent economic reforms in Pakistan to tackle rising poverty

    World Bank urges urgent economic reforms in Pakistan to tackle rising poverty

    The World Bank has issued a grave warning regarding Pakistan’s economic state, urging the nation to take swift action. They propose taxing key sectors like agriculture and real estate while reducing wasteful expenditures to stabilise the economy. This endeavour aims for a significant fiscal adjustment, equivalent to over 7 percent of Pakistan’s economic size.

    The World Bank also revealed alarming statistics, with poverty levels surging to 39.4 percent in the last fiscal year, pushing an additional 12.5 million people below the poverty line. Currently, nearly 95 million Pakistanis live in poverty.

    To address these challenges, the World Bank has drafted a set of policy recommendations in collaboration with stakeholders, focusing on low human development, unsustainable fiscal practices, overregulation in the private sector, and issues in the agriculture and energy sectors.

    Immediate measures include raising the tax-to-GDP ratio by 5 percent and reducing expenditures by about 2.7 percent of GDP, primarily targeting previously protected sectors.

    Tobias Haque, the lead country economist at the World Bank, underscores the need for substantial policy changes, given Pakistan’s economic and human development crises.

    According to Express Tribune, the World Bank’s recommendations encompass a range of fiscal reforms, including the removal of tax exemptions, increased taxation on real estate and agriculture, and mandatory use of CNIC for transactions.

    Furthermore, the institution advises cutting energy and commodity subsidies, implementing a single Treasury account, and adopting temporary austerity measures for short-term savings. Medium-term savings entail streamlining federal spending and enhancing the quality of development expenditures.

    Najy Benhassine, the country director for Pakistan at the World Bank, emphasises the importance of political consensus and domestic solutions to address Pakistan’s challenges.

    The World Bank highlights the need to address the human capital crisis, reduce energy subsidies, and promote inclusive, sustainable, and climate-resilient development in Pakistan. These measures are imperative to stabilise the nation’s precarious economic situation and alleviate the growing poverty crisis.

  • Gautam Gambhir has high praise for one Pakistani cricketer

    Gautam Gambhir has high praise for one Pakistani cricketer

    Former Indian cricket player Gautam Gambhir has high words of praise for one Pakistani player.

    In an interview with Star Sports, Gambhir was asked which player he would look out for the host asked Gautam Gambhir which player will perform brilliantly in the World Cup.

    The choices included Virat Kohli, Rohit Sharma, Joe Root, Kane Williamson, David Warner, Steve Smith and Babar Azam.

    Gambhir replied, “Babar Azam, because he has all the qualities required to set fire to this whole World Cup, I have seen very few players who have that much batting time.”

    Gautam Gambhir also said that Babar Azam has a “different level of quality.”

    It should be noted that the ICC ODI World Cup is going to start in India from October 5.

  • ‘Young people are difficult to work with’: Fahad Mustafa on why he’s not acting anymore

    ‘Young people are difficult to work with’: Fahad Mustafa on why he’s not acting anymore

    Actor and producer Fahad Mustafa was a guest on Vasay Chaudhry’s talk show ‘Gup Shab’, where he opened up about giving a break to acting.

    The ‘Mein Abdul Kadir Hoon’ actor revealed that he missed the times when he was working with big names like Vasay Chaudhry, Humayun Saeed and Mahira Khan, and said it was difficult to work with young actors of today.

    “I worked with Vasay, Humayun, Mehwish, Mahira Khan, who are all stars now. It’s easy to work with them and there is a reason why they’re all stars because I feel that it’s incredibly easy to work with them. Currently looking at the young actors of today, it’s hard to work with them. I’m not criticising their talent, just pointing out regarding getting along on set.”

    “Because we had not witnessed any vanity on sets,” the ‘Actor in Law’ actor added. “We could all sit in a room and get along. When it gets incredibly hard to sit together in a room during set, then you can’t work together either. This is my biggest fear.”

  • Father sentenced to death for raping daughter

    Father sentenced to death for raping daughter

    The Model Court for Sexual Violence in Lahore has awarded death sentence to Rafiq for raping his 14-year-old daughter.

    The verdict was read out by Judge Mian Shahid Javed. The court also ordered that the father should also pay Rs 10 lakh as compensation to the daughter, adding that in case of non-payment, the criminal will have to undergo another six months of imprisonment.

    The court directed the jail superintendent not to carry out the death sentence until confirmation from High Court.

    A case was registered against Rafiq back in in March 2019 by Satwa Katla police station.

  • Govt attributes UAE’s fresh meat export ban to faulty refrigeration systems in containers

    Govt attributes UAE’s fresh meat export ban to faulty refrigeration systems in containers

    The Trade Development Authority of Pakistan (TDAP) has attributed the United Arab Emirates’ (UAE) restriction on fresh chilled meat exports from Pakistan to issues with inefficient or non-functional refrigeration systems.

    The ban, effective October 10, 2023, was enacted in response to substandard fresh beef shipments detected in Dubai. TDAP revealed that subpar meat quality was linked to refrigeration problems in reefer containers, a responsibility of shipping lines. Exporters affected by the ban have filed claims against these shipping entities.

    According to Brecorder, the UAE’s Ministry of Climate Change and Environment revised its list of approved slaughterhouses for meat exports via sea routes, imposing specific requirements on shipments of fresh and chilled meat until October 10. Only vacuum-packed or modified-atmosphere-packed meat, conforming to specific shelf-life criteria, will be permitted via sea transport.

    Notably, this ban does not affect fresh and chilled meat shipments by air. TDAP is actively engaged in resolving the issue, with the Pakistani Consulate in Dubai collaborating with stakeholders to determine the cause. TDAP remains optimistic that constructive dialogue and cooperation will lead to a resolution, allowing the resumption of fresh chilled meat exports from Pakistan to the UAE.

  • US places visa restrictions on Bangladeshis as conflict continues

    US places visa restrictions on Bangladeshis as conflict continues

    The US Department State has released a statement on Friday stating that the country will be imposing visa restrictions on “Bangladeshi individuals responsible for, or complicit in, undermining the democratic election process in Bangladesh”.

    In the statement, State Department spokesperson Matthew Miller said that the step is a reflection of America’s commitment to supporting “Bangladesh’s goal of peacefully holding free and fair national elections, and to support those seeking to advance democracy globally,”

    The people in question are members of law enforcement, the ruling party, and the political opposition including current and former Bangladeshi officials, members of opposition and ruling political parties, and members of law enforcement, the judiciary, and security services.

    Moreover, any other individual or personnel found “responsible for, or complicit in, undermining the democratic election process in Bangladesh may also be found ineligible for US visas under this policy in the future”

    “The United States is committed to supporting free and fair elections in Bangladesh that are carried out in a peaceful manner,” the statement read.

    Previously this year, in May, US Secretary of State Antony Blinken announced the new visa policy under Section 212(a)(3)(C) (“3C”) of the Immigration and Nationality Act to support Bangladesh’s goal of holding free, fair, and peaceful national elections.

    Under this policy, the US could restrict the issuance of visas for any Bangladeshi individual found guilty in tampering with the election results.

    The United States has said it will not release the names or numbers of people in Bangladesh subject to the visa restrictions.

    Reported by Dhaka Tribune, US Embassy Spokesperson Bryan Schiller told UNB that “Visa records are confidential under US law,” and so, the names or numbers of people will not be revealed.

    He further added that the imposition of the restriction has been done “After a careful review of the evidence”

    On the contrary, Bangladesh’s State Minister for Foreign Affairs, Md Shahriar Alam responded to the update stating that the government has “nothing to lose and that they are not worried about the visa restrictions issue, as they are doing nothing wrong”.

  • World Cup: Pakistan squad yet to be issued Indian visas

    World Cup: Pakistan squad yet to be issued Indian visas

    Indian visas have not been issued to the Pakistan cricket team to participate in the Cricket World Cup.

    According to the sources, the visas of the Pakistan squad are delayed and the Pakistan Cricket Board (PCB) is worried about the issuance of the visas.

    PCB has informed the International Cricket Council (ICC) about the issue and asked them to issue visas on time as per the agreement.

    Sources say that they were not told about the visas of the Pakistan squad and fans. PCB has been in touch with the Indian High Commission for a week, however visas could not be issued.

    Pakistani squad is scheduled to leave for India via Dubai on September 26 and Pakistan’s first warm-up is scheduled on September 29 against New Zealand.

    It should be noted that Pakistan’s squad for the Cricket World Cup has been announced, Babar Azam will be the captain and Shadab Khan will be the vice-captain.

    Fast bowler Naseem Shah is not part of the national squad due to injury while Hasan Ali has been included in the squad in his place.

    Read More: Here’s why Shahid Afridi is angry at fans

    Other players include Abdullah Shafiq, Fakhar Zaman, Imamul Haq, Haris Rauf, Iftikhar Ahmed, Shaheen Afridi, Muhammad Rizwan, Muhammad Nawaz, Muhammad Wasim Jr., Hasan Ali, Saud Shakeel, Salman Agha and Osama Mir.

    Three players have been kept in reserve for the World Cup, including Mohammad Haris, Abrar Ahmed and Zaman Khan.

  • Arshad Sharif murder case proceedings on halt

    Arshad Sharif murder case proceedings on halt

    The proceedings of senior journalist Arshad Sharif’s murder trial have been put to halt in District and Sessions Courts Islamabad.

    According to the details reported by Samaa news, witnesses have failed to appear and there is a lack of interest on their behalf; and so the case’ file was sent to the record room.

    Judicial Magistrate Abbas Shah issued the written decision of the previous hearing.

    According to the decision, on March 16, the court received a challan of Penal Code Section 512 in the Arshad Sharif murder case. On April 5, the court summoned witnesses to record their statements. They were summoned several times, but no one appeared.

    The court says that they are not interested in recording the statements of the witnesses in the Arshad Sharif murder case; the prosecution was given an opportunity to submit evidence 15 times. And so, at the previous hearing, the prosecution was given notice that perhaps the file should be sent to the record room. According to the prosecutor, private and official witnesses are not coming to the court to record their statements.

    In the judgement, it has been said that the prosecution can file an application for a new date considering the appearance of the witnesses, till further orders the Arshad Sharif murder case file is sent to the record room.

  • Commerce minister warns of financial loss over proposed early market closure 

    Commerce minister warns of financial loss over proposed early market closure 

    Caretaker Minister for Commerce, Industries, and Production, Dr Gohar Ejaz, has voiced his opposition to the early market closure proposed as part of the energy conservation plan, expressing concerns over the significant financial losses the government could incur as a result.  

    According to ARY News, Dr Ejaz said that Pakistan currently has a surplus of electricity, making the decision to close markets prematurely economically unfavorable. 

    He revealed that recommendations were sought from all chambers of commerce across the country within a 30-day period. Additionally, Dr Ejaz announced an upcoming anti-gas theft initiative following the anti-power theft operation. He urged traders to be flexible, considering the limited gas resources in the country. 

    Furthermore, he revealed plans to invite 100 international brands to a conference in Pakistan, granting them the status of state guests. Dr Ejaz also mentioned the current exchange rate of the US dollar, which stands at Rs260. 

    To encourage the purchase of electricity from Thar, he directed Sindh and Punjab to do so, promising tax exemptions if they comply. This move aims to make electricity tariffs in these regions more competitive. 

    The caretaker minister stressed the need to boost exports, pointing out that Pakistan’s foreign direct investment is contingent on increased exports. He called for cooperation from business leaders to resolve various issues.  

    Dr Ejaz expressed his commitment to serving the country and previously outlined plans to support industry stakeholders in boosting exports and establishing business parks in major cities to stimulate economic growth. 

  • NEPRA recommends electricity rate increase of Rs3.28 per unit

    NEPRA recommends electricity rate increase of Rs3.28 per unit

    The National Electric Power Regulatory Authority (NEPRA) has officially proposed to the government an increase in the electricity tariff of Rs3.28 per unit, citing the need for a quarterly adjustment.

    In this proposal, NEPRA is looking to impose an additional financial burden of approximately Rs160 billion on consumers of electricity. According to ARY News, this recommendation has been conveyed to the caretaker federal government through an official summary, outlining the suggested increment of Rs3.28 in electricity rates as part of the fourth-quarter adjustment for the fiscal year 2022–23. 

    The proposed increase, subject to approval by the federal government, would also apply to K-Electric consumers. As a result of this adjustment, power consumers would be required to make additional payments over the next six months, spanning from October 2023 to March 2024. 

    It is worth noting that the proposed surge in power tariffs has incited protests throughout the country, with citizens expressing their displeasure over the considerable rise in electricity costs and the imposition of excessive taxes on electricity bills. In some instances, individuals infuriated by inflated bills have resorted to burning them as a form of protest, while certain political factions have threatened to stage sit-in demonstrations outside K-Electric offices. 

    This unrest surrounding the increased electricity tariffs coincides with Pakistan’s ongoing economic struggles, characterised by financial constraints and an inflation rate hovering around 29 per cent. 

    Furthermore, it is important to highlight that the International Monetary Fund (IMF) has reportedly discouraged Pakistan from offering relief to consumers using over 200 units of electricity on a monthly basis. According to sources, the IMF argued that reducing electricity bills for such consumers would not address the issue of circular debt. 

    Consequently, relief in the form of deferred payments for electricity bills will be exclusively extended to consumers who consistently utilise less than 200 units for six consecutive months. This relief would be rescinded if a consumer’s bill exceeded 200 units within the same timeframe, as per the sources. 

    Caretaker Federal Minister for Energy, Power, and Petroleum, Muhammad Ali, has also announced that the revised electricity tariff will be introduced before October 31. During a press conference held alongside Sindh Governor Kamran Tessori, Minister Ali emphasised the government’s commitment to combating electricity and gas theft through indiscriminate measures. 

    He added that efforts are being made to regulate and potentially lower electricity tariffs, with a goal to supply cost-effective electricity to industries starting on October 31. Muhammad Ali attributed the surge in electricity bills to electricity theft and the increased price of the US dollar. 

    While acknowledging the challenges of amending previous agreements, the minister pledged that the government would explore solutions within the framework of existing arrangements. He also expressed the government’s commitment to promoting solar energy despite the lack of reductions in solar equipment prices, outlining plans to devise a strategy for the promotion of solarization.