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Tag: Pakistan

  • No plan proposed to raise petrol prices at pre-budget seminar, clarifies Miftah

    No plan proposed to raise petrol prices at pre-budget seminar, clarifies Miftah

    After a tremendous increase of Rs60 in less than a month, Finance Minister Miftah Ismail announced Tuesday that the price of petroleum goods in the country would rise even more.

    Ismail mentioned in his statement at the one-day pre-budget business conference that if the government had followed ex-prime minister Imran Khan and former finance minister Shaukat Tarin’s contract with the International Monetary Fund (IMF), petrol would have cost Rs300 per liter.

    “The previous government had agreed with the IMF that they would not give subsidies,” the finance minister said, lashing out at the Khan-led government for messing up the economic policies of the country.

    Furthermore, The News reports that the government cannot simply withdraw subsidies without also imposing taxes on petroleum items.

    “The IMF has asked for 100 per cent withdrawal of subsidy on POL products. Once the subsidy is over, then the government will have to impose taxes and petroleum levy,” the publication reported, adding that there is still a subsidy of Rs9.32 per liter on petrol and Rs23.05 per liter on diesel.

    The finance minister had ruled out the potential of a financial emergency in the country the day before, as the government took efforts to address the country’s continued economic upheaval.

    No petrol hike discussed at the pre-budget meeting

    UPDATE: Miftah Ismail, on the other hand, has clarified that he never mentioned a hike in petroleum prices during the pre-budget meeting, despite the fact that social media and known channels have been swamped with headlines of yet another hike, with several netizens sharing images of folks rushing to petrol pumps yet again. “Channels running these tickers are doing a disservice to their viewers,” said the Finance Minister.

    “In the pre-budget seminar I never even spoke about petroleum prices. Channels running these tickers are doing a disservice to their viewers. There will be no increase in prices today and there is no summary or plan to raise prices,” he tweeted.

  • 200 officials to reportedly fly for Hajj on govt expenses, PM takes notice

    200 officials to reportedly fly for Hajj on govt expenses, PM takes notice

    Prime Minister Shehbaz Sharif has taken notice of a media report about government officials performing Hajj this year on government expense. A list of 200 officials/officers from the Ministry of Religious Affairs and Interfaith Harmony has been finalised by the government for Hajj this year. Religious Affairs Minister Mufti Abdul Shakoor will also be performing Hajj this year apart from 35 members of the minister’s office, which includes five drivers, four gunmen, one cook and 11 personal secretaries and assistants, reports Kasim Abbasi for The News.

    Pakistan International Airlines (PIA) commenced Hajj flight operations on Monday (June 6) and1,080 pilgrims left for Hajj. Two flights left from Islamabad and one each from Lahore and Quetta.

    Hajj pilgrims are also being informed about their flight schedules through the website and SMS on their mobile number.

    A spokesperson of the Ministry of Religious Affairs said that at least 32,000 pilgrims will be flown to Saudi Arabia through 106 Hajj flights under the government’s Hajj scheme. He further added that 42 flights will be operated from Islamabad under the “Road to Makkah” project.

    Saudi Arabia has launched the “Road to Makkah” initiative in five countries, including Pakistan, Malaysia, Indonesia, Morocco and Bangladesh for the fourth consecutive year since its launch in 2019.

    Saudi Arabia’s Interior Ministry in a statement said the “Road to Makkah” initiative aims to receive the pilgrims and complete their procedures from their countries with ease.

  • Gold gains Rs2,800, reaching Rs142,000 per tola

    Gold gains Rs2,800, reaching Rs142,000 per tola

    Keeping in view the rates maintained by the All Sindh Sarafa Jewelers Association, the price of gold per tola jumped Rs2,800 in the local market on Monday, bringing it to Rs142,000.

    Today, at 4 pm, the precious yellow metal was trading at $1,854 per ounce on the international market.

    Pakistan, as a price-taker, follows the trend in the world market for gold and other precious metals. Gold and other precious metals, such as silver, are priced in ounces around the world.

    Chairman of the Pakistan Gems Jewelry Traders and Exporters Association (PGJTEA), Akhtar Tesori, said the gold jewellery market has suffered as gold prices have risen in the country.

    According to him, the country’s commodities prices have reached new highs in recent years due to devaluation of the local currency against the green back and increases in the price of international gold.

  • ‘Car servicing needed, please look into this’ Twitter asks Miftah to get things done after Maryam’s tweets

    ‘Car servicing needed, please look into this’ Twitter asks Miftah to get things done after Maryam’s tweets

    Pakistan Muslim League-Nawaz (PML-N) Vice President Maryam Nawaz has asked Finance Minister Miftah Ismail to look into the matter of pet food import ban, tagging him in a tweet by journalist Gharidah Farooqi.

    Gharidah tweeted: “It’s been more than two weeks that Pet Food import remains banned in Pakistan. Request to PM Shehbaz Sharif. Kindly lift this ban. Pl listen to the please of voiceless creatures waiting for you to show mercy. Almost NIL impact on import bill. Why not then?”

    Maryam Nawaz tagged Miftah Ismail and wrote, “Please look into this.”

    Last month, when the import ban was imposed and some customs officials confiscated people’s private shopping at airports, Maryam Nawaz had asked Miftah Ismail to look into it. He had responded: “Ji I will.”

    Maryam Nawaz’s tweets for Miftah Ismail has sparked a meme fest on Twitter.

    https://twitter.com/basmati_reus/status/1533839608877916167?s=21&t=547ayI6mMNTIMDzA04VGdQ

  • PM Shehbaz reduces fares for Lahore Metro Bus Service

    PM Shehbaz reduces fares for Lahore Metro Bus Service

    Prime Minister (PM) of Pakistan, Shahbaz Sharif has announced a fare cut for the Lahore Metro Bus Service. He said that the fares had been lowered in order to provide help to daily commuters in the face of Pakistan’s economic crisis.

    PM Shehbaz revealed this at the Indus Hospital’s opening ceremony. He claimed that due to the “past government’s mismanagement,” the government has no choice but to announce fuel price hikes.

    According to PM Shehbaz, the government would cut public transportation costs. The government believes that by doing so, individuals will be more likely to take public transportation, resulting in fuel savings.

    The Prime Minister declared free metro rides for residents of the twin cities in Ramadan. The move was warmly received and appreciated by commuters on a daily basis.

    Multan, Rawalpindi, and Faisalabad all have Metro Bus Service. However, the government has only announced relief for Metro users in Lahore, and it is unclear whether it will extend to other cities.

    The current Metro Bus rate is Rs30, but following Prime Minister Shehbaz’s announcement of a 50 per cent reduction, the ticket would be available for Rs15.

  • ‘World should severely reprimand India’: Muslim countries condemn BJP’s derogatory remarks about Holy Prophet (PBUH)

    ‘World should severely reprimand India’: Muslim countries condemn BJP’s derogatory remarks about Holy Prophet (PBUH)

    After hashtags calling for the boycott of Indian products began trending on Twitter in Arab countries over derogatory remarks against Prophet Muhammad (PBUH) by Bharatiya Janata Party (BJP) spokespersons Nupur Sharma and Naveen Kumar Jindal, India’s ruling party suspended Sharma and expelled Jindal. The two also issued public apologies after the reaction from the Arab world. Qatar, Kuwait, and Iran have summoned Indian envoys while Saudi Arabia and  Organisation of Islamic Cooperation (OIC) have issued statements against the two BJP spokespersons.

    World should take note and severely reprimand India: Shehbaz Sharif

    Prime Minister (PM) Shehbaz Sharif strongly condemned the derogatory remarks recently made by two leaders of India’s BJP against the Holy Prophet (PBUH).

    PM Sharif wrote: “Have said it repeatedly India under Modi is trampling religious freedoms and persecuting Muslims. The world should take note & severely reprimand India.”

    He added that Muslims’ love for the Holy Prophet (PBUH) is supreme and that all Muslims can sacrifice their lives for the love and respect of their Prophet (PBUH). 

    Pakistan Armed Forces strongly condemn blasphemous remarks by Indian officials

    The official media wing of the Pakistan army condemned the derogatory remarks of the BJP leaders. “The outrageous act is deeply hurtful and clearly indicates extreme level of hate against Muslims and other religions in India.”

    Indian chargé d’affaires summoned by Pakistan

    Foreign Minister Bilawal Bhutto-Zardari took to Twitter and said, “Indian Cd’A summoned to convey Pakistan’s rejection and strong condemnation of the derogatory remarks by BJP officials against Prophet Muhammad PBUH. BJP leadership and GOI must condemn the sacrilegious comments and hold those responsible to account.”

    Pakistan condemns India

    Pakistan has strongly condemned the disrespectful remarks recently made by two senior officials of India’s ruling party BJP, disrespecting the Holy Prophet Muhammad (Peace Be Upon Him). 

    “These totally unacceptable remarks have not only deeply hurt the sentiments of the people of Pakistan but of billions of Muslims around the world,” read the statement issued by the Ministry of Foreign Affairs.

    “BJP’s attempted clarification and belated and perfunctory disciplinary action against these individuals cannot assuage the pain and anguish they have caused to the Muslim world. Muslims residing in India are equally outraged by the completely repugnant comments by the two BJP officials. The ensuing communal violence in Kanpur and in other parts of India bears testimony to this fact.”

    Pakistan urged India to ensure that decisive and demonstrable action is taken against those responsible for making derogatory remarks and attacking the dignity of the Holy Prophet Muhammad (PBUH). India must also take immediate steps to protect its minorities from human rights violations, ensure their safety, security, and well-being and allow them to profess and practice their faiths in peace.

    “Pakistan once again calls on the international community to take immediate cognisance of the grievously aggravating situation of Islamophobia in India. India must be held accountable for stifling the rights of the minorities, especially Muslims, to practice their faith and religious beliefs,” said the Foreign Office spokesperson.

    Arab world’s condemnation over derogatory remarks

    The Ministry of Foreign Affairs of Qatar summoned the Indian Ambassador and handed over an official note on Qatar’s total rejection and condemnation of the remarks of Sharma and Kumar.

    The Kuwaiti Ministry of Foreign Affairs summoned the Indian ambassador and handed him an official protest note expressing the State of Kuwait’s rejection and denunciation of the controversial remarks made by an official in the ruling party in India against Prophet Muhammad (PBUH), Islam, and Muslims.

    Saudi Arabia described the spokesperson’s comments as “insulting” and called for “respect for beliefs and religions”, according to a foreign ministry statement.

    The Organisation of Islamic Cooperation (OIC) also condemned the remarks, saying they came in a “context of intensifying hatred and abuse towards Islam in India and systematic practices against Muslims”.

  • Pakistan is experiencing another heatwave, will rise this week

    Pakistan is experiencing another heatwave, will rise this week

    The Meteorological Office has issued an alert regarding heatwave in the country. As per the Met office, day temperatures are likely to remain unusually high in most parts of the country during next four to five days.

    “Day temperatures in Islamabad, Punjab, Khyber Pakhtunkhwa, Kashmir, Sindh and eastern Balochistan are expected to rise significantly above normal,” the alert read.

    The weather will continue to stay significantly high during the afternoon in much of the country from Sunday to Thursday, according to the Met Department’s weather alert.

     “Occasional dust storm/dust raising winds may also occur in afternoon/evening during the period,” it added.

    However, the heat wave is likely to be followed by a rain spell in upper and central parts of the country.

  • Govt approves 6 per cent hike in defence budget to mitigate impact of inflation

    Govt approves 6 per cent hike in defence budget to mitigate impact of inflation

    The government boosted the defence budget for the current fiscal year by nearly 6 per cent to more than Rs1.45 trillion on June 4 in order to cater the demands of the military services, along with increase in their salaries.

    As per a report from The Express Tribune, the Economic Coordination Committee (ECC) of the Cabinet okayed an additional Rs80 billion in auxiliary grants, bringing the total approved to Rs182 billion. The Ministry of Defence had requested an additional Rs80 billion for “critical shortfalls” in the defence budget, in addition to budget revisions for expenses on the Jinnah Naval Base, the Naval Base Turbat, and the multi-functional office building in the headquarters.

    Miftah Ismail, Federal Minister of Finance, chaired the ECC meeting, which endorsed a Rs80 billion supplementary budget for the armed forces, or the amount of total expenditures incurred. The ministry of finance projected that extra spending in fiscal year 2021-22, which ends on June 30, would be less than Rs80 billion.

    The National Assembly approved an Rs1.373 trillion defence budget for the present fiscal year in 2021. Keeping in view the increase in the spending ceiling, the next fiscal year’s defence budget could be greater than the previously estimated figure of more than Rs1.55 trillion.

    The Ministry of Defence received Rs153 billion in total, which is 11.8 per cent more in this fiscal year than in the previous year’s revised budget, which is identical to Pakistan’s average inflation rate. Defence spending will amount to 2.2 per cent of GDP, excluding armed forces development expenditures.

    The ECC also agreed to impose a 10 per cent regulatory duty on Chinese petrol imports in order to prevent abuse of bilateral free trade agreements. Some oil marketing companies rerouted their imports through China in order to avoid paying 10 per cent customs duty.

    For fiscal year (FY) 2021–22, the Pakistan government had decided a defence budget of Rs1.37 trillion (USD8.78 billion). The allocation represented a 6.2 per cent increase over the initial 2020–21 defence budget of Rs1.29 trillion.

    The defence budget represented approximately 16 per cent of the government’s total expenditure for 2021–22, and it was announced against the backdrop of Pakistan’s improving economy. Despite the Covid-19 pandemic, the country’s GDP is expected to rise by nearly 4 per cent in 2020–21.

    The majority of Pakistan’s defence budget goes to defence services, with a small portion going to defence administration. Employee-related expenses are the largest expenditure in the former appropriation, receiving Rs481.6 billion in 2021–22, a 1 per cent increase year on year.

    The graph below compares how much money the nation spent on defence:

    Here’s a comparison of the national and army budgets as it grows over time:

    The graph depicts how little Pakistan has spent on defence than India. Pakistan’s defence spending is not even close to India’s:

    As shown in the graph below, Pakistan is still among the countries that spend far less than others:

    The graph below demonstrates the average spending of the United States, Saudi Arabia, India, Iran, and Pakistan, which is significantly less than what Iran spends on each soldier:

  • PML-N divided over filing treason charges against Imran Khan

    PML-N divided over filing treason charges against Imran Khan

    Government officials have been discussing about going ahead with filing treason charges against Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan and Chief Ministers (CMs) of Khyber Pakhtunkhwa (KP) Mahmood Khan, CM Gilgit-Baltistan (GB) Muhammad Khalid Khurshid Khan after PTI’s Azadi March in Islamabad, reports Geo News.

    In a special cabinet committee, Interior Minister Rana Sanaullah strongly recommended that the federal cabinet should file a treason case against Khan.

    The minister termed PTI’s long march fitna and fasad March. “With planning, around 2,500 miscreants were already sent to the federal capital and they tried to capture D-Chowk before the arrival of Imran Khan,” he added.

    Sanaullah further said Khan had violated the Supreme Court’s (SC) order and asked workers to reach D-chowk.

    On the contrary, in Geo News’ programme ‘Aaj Shahzeb Khanzada Kay Sath’, Sanullah’s party’s senior leader Khawaja Asif said that the government should leave Khan on his own and shouldn’t file any charges against him.

    “He destroying himself as a politician, let him do that,” Asif added. He further said that PTI attacked Islamabad and the party itself accepted that their workers and supporters were armed.

    Talking about initiating a talk with the PTI Chairman, the PML-N leader said if there is any chance of a diplomatic talk, it should take place [between PTI and the government].”

  • Netizens want ‘tangas’ back on roads as petrol hits Rs209.86

    Netizens want ‘tangas’ back on roads as petrol hits Rs209.86

    To meet the International Monetary Fund’s (IMF) conditions, the government has unleashed another big gasoline bomb on the country after another hike of Rs30. In less than a month, the price of petrol has risen by Rs60 to Rs209.86.

    The latest petrol price hike came just hours after the National Electric Power Regulatory Authority (NEPRA) approved a power tariff hike of Rs7.91 per unit.

    In an attempt to save money, a large number of people rushed to nearby petrol pumps to fill up their tanks before midnight. Numerous two-wheelers, as well as sedans and full-fledged SUVs, formed long lines outside gas stations.

    Several traffic bottlenecks were observed in key areas of Lahore, Karachi and Islamabad due to long queues of automobiles.

    Netizens expressed their displeasure on social media platforms, alleging that petrol had become out of reach for the general public.

    Despite hefty price increases that would unleash a strong wave of inflation, Pakistan is still far from reaching an agreement with the IMF which requires a budget agreement for fiscal year 2022-23.

    Petrol now costs Rs209.86 per litre, high-speed diesel (HSD) costs Rs204.15, kerosene oil costs Rs181.94 and light diesel oil costs Rs178.31, thanks to the rise.

    The Finance Minister, Miftah Ismail went on to say that the government is holding talk with the IMF on a daily basis. “We cannot accede to all of their requests, but we must agree on certain aspects”.

    He insisted that the petroleum subsidy announced by former Prime Minister Imran Khan had to be rescinded to avoid financial losses.

    Journalist Kazmi Wajahat described the chaotic scene outside gas stations just before the higher rates went into effect at 12 am.

    The decision to remove the gasoline subsidy should have been made sooner, according to economists, who also warned that the worst is still to come.

    One-unit price of electricity has increased from Rs16.91 to Rs24.82 as a result of the new raise. The hike has been reported to the federal government by Nepra. According to a statement, the increased tariffs will take effect after the government issues its final notification. Recent hike in tariffs has been attributed to the rupee’s depreciation and increased oil prices on the foreign market.