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Tag: PM Shehbaz Sharif

  • PM Shehbaz rejects FBR’s sales tax hike and carbon tax proposals

    PM Shehbaz rejects FBR’s sales tax hike and carbon tax proposals

    Prime Minister Shehbaz Sharif has rejected two significant budgetary proposals put forth by the Federal Board of Revenue (FBR) aimed at increasing revenue.

    The proposals included raising the standard rate of sales tax from 18 to 19 per cent and imposing an 18 per cent sales tax on petroleum products, often referred to as a “carbon tax”.

    The FBR had suggested a 1 per cent increase in the sales tax rate, projecting an additional revenue generation of Rs40-50 billion for the fiscal year 2024-25. However, Prime Minister Sharif declined this proposal, citing the potential for immediate inflationary effects on the general public.

    In response, the Prime Minister directed the FBR to enhance its enforcement and administrative measures and to draft alternative proposals targeting untaxed or under-taxed sectors of the economy. Additionally, he instructed the FBR to consider proposals to increase taxes on non-essential and luxury items.

    The second proposal, which aimed to impose an 18 per cent sales tax on petroleum products, was also rejected due to its likely inflationary impact on the public.

    According to sources, out of the total proposed measures worth Rs1,200 billion to Rs1,300 billion by the FBR, the government is anticipated to approve measures amounting to approximately Rs400-500 billion.

  • Shaandar renovation? Government approves more than Rs16 crore for renovating Shehbaz’s office

    Shaandar renovation? Government approves more than Rs16 crore for renovating Shehbaz’s office

    The government on May 7 approved a supplementary budget worth Rs147 billion for various expenses including more than Rs36 crore for renovating the Prime Minister Office and expenses for the employees of the Karachi Shipyard and Engineering Corporation.

    The Economic Coordination Committee (ECC) approved a budget of Rs162.5 million for renovating the PM’s Office, the Express Tribune has reported.

    The ECC of the Federal Cabinet authorized the financial decisions, including increasing the federal government’s wheat procurement quota by another 400,000 metric tonnes.

    Punjab farmers have suffered due to the flawed decision-making of the past caretaker government which imported 3.5 million tonnes of wheat despite domestic surplus.

    Correspondingly, the government also allowed borrowing Rs41.5 billion to buy the commodity from farmers at Rs3900 per 40kg rate.

  • Rana Sanaullah appointed PM Shehbaz’s adviser on political affairs

    Rana Sanaullah appointed PM Shehbaz’s adviser on political affairs

    Prime Minister Shehbaz Sharif has appointed Pakistan Muslim League-Nawaz (PML-N) Punjab President Rana Sanaullah as his adviser on political and public affairs.

    The President of Pakistan Asif Ali Zardari approved the appointment of Sanaullah as the PM’s advisor.

    Rana Sanaullah served as the interior minister during the previous government but lost his seat in the general elections 2024 in the National Assembly (NA-100) constituency in Faisalabad.

    Sanaullah’s appointment came just after a day Foreign Minister Ishaq Dar was given the additional role of Deputy Prime Minister.

    Sanaullah had recently hinted at the possibility of him taking a role in the federal government, stating that Nawaz Sharif would decide the matter after coming back from his China visit.

  • ‘PM Shehbaz works 26 hours a day’ says Senator Irfan Siddiqui

    ‘PM Shehbaz works 26 hours a day’ says Senator Irfan Siddiqui

    During a talk show on Neo News, Senator Irfan Siddiqui of the Pakistan Muslim League-Nawaz (PMLN) recounted an exchange where Prime Minister Shehbaz Sharif, when questioned about his work routine, quipped, “I operate on a 26-hour day.”

    The senator was impressed with the dedication and work ethic of Prime Minister Shehbaz and when he asked the PM about an extra two hours a day then PM replied, “I sleep in those two hours”.

    The senator then stated that given the work discipline of PM Shehbaz, it is logical that he depends on assistants.

    People on social media have some things to say about the 26-hour day of Prime Minister Shehbaz.

  • PM Shehbaz congratulates newly elected lawmakers in by-polls

    PM Shehbaz congratulates newly elected lawmakers in by-polls

    Prime Minister Shehbaz Sharif congratulated newly elected members of the national and provincial assemblies for winning the by-polls on Sunday.

    He said that the victory of Pakistan Muslim League-Nawaz (PML-N) candidates in by-polls is a sign of people’s trust on the party. “We sincerely thank people who voted for the Muslim League-N in the by-election.”. The PM also assured Pakistanis that his party will do every possible things to server them.

    He observed that along with clear signs of economic progress, people were starting to notice a shift in public opinion. The victories of PML-N candidates were seen as the public recognizing the government’s efforts in fixing the economy, lowering inflation, and enhancing foreign relations. He hoped that as the economy continued to improve and public satisfaction grew, people’s opinions would keep changing positively.

    He also said international financial institutions, news agencies, and surveys covering economic improvement have a positive impact on public opinion.

    The PM said that the non-political behaviour of the opposition after the February 8 elections had also left its supporters confused and disappointed.

  • ‘Pakistan’s economy performed best under Nawaz Sharif’: Bloomberg

    ‘Pakistan’s economy performed best under Nawaz Sharif’: Bloomberg

    An analysis by Bloomberg Economics reveals that Pakistan’s economy witnessed its best performance in the past three decades under the leadership of Nawaz Sharif, who served as Prime Minister thrice.

    The report compares economic indicators during Sharif’s tenure with those of his rivals, including Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) and Bilawal Bhutto Zardari’s Pakistan Peoples Party (PPP), using a misery index that combines inflation and unemployment rates.

    According to Bloomberg Economics, the analysis utilized an average of the misery index values over the years when each major political party ruled Pakistan since 1990.

    The results indicate that Sharif’s Pakistan Muslim League (PML-N) outperformed both PTI and PPP in managing economic challenges.

    With general elections scheduled for February 8, Bloomberg suggests that Nawaz Sharif seems poised to return to power for the fourth time, especially as Imran Khan faces legal issues and incarceration.

    Despite Khan’s popularity, with a 57% approval rating according to a recent Gallup poll, Sharif has experienced a surge in popularity from 36% to 52% in the past six months.

    The past three decades saw the PML-N rule Pakistan four times under Sharif and his younger brother Shehbaz Sharif. The PPP under the Bhutto dynasty has held power three times, while Khan was in office for a four-year term ending in April 2022 when he was ousted from power in a parliamentary no-trust vote.

    “Bloomberg Economics used an average of the index values over the respective years when each of the major political parties ruled the country since 1990. A higher value indicates more economic hardship for citizens,” the publication said, explaining its conclusions.

    Bloomberg Economics Misery Index Results for Pakistan showed the Pakistan Muslim League scored 14.5 percent, Pakistan Tehreek-e-Insaf 16.1 percent, and the Pakistan Peoples Party 17.2 percent.

    Pakistan is currently grappling with economic challenges, including seeking a financial bailout from the International Monetary Fund (IMF).

    Inflation is close to 30 percent in Pakistan, the currency was Asia’s worst performer last year and foreign exchange reserves have slumped.

    The incoming government, as per IMF conditions, will need to implement potentially unpopular policies such as withdrawing subsidies and raising taxes. The IMF forecasts a 2% growth in Pakistan’s economy for the current fiscal year after experiencing a contraction in the previous year.

    Despite the positive economic indicators during Sharif’s governance, the report underscores the formidable tasks awaiting the new government in addressing the country’s economic hardships.

  • ‘Second green revolution’ promised by PM Shehbaz through Green Pakistan Initiative 

    ‘Second green revolution’ promised by PM Shehbaz through Green Pakistan Initiative 

    After a series of moves aimed to protect Pakistan’s failing economy, including securing a crucial IMF deal, Prime Minister Shehbaz Sharif has now set his sights on supporting what he calls the backbone of Pakistan’s economy: the agricultural sector.

    Through his Green Pakistan Initiative, inaugurated on Monday, July 10, PM Shehbaz says 4 million jobs will be created in the agricultural sector. He also said the Green Pakistan Initiative would likely attract $50 billion in investments in the next five years.

    According to PM Shehbaz, the newly inaugurated initiative is bound to propel Pakistan into its ‘second green revolution’. In fact, the initiative follows similar schemes as those present in Ayub Khan’s regime, such as incentivising farmers by providing them with more profits for their production and providing standard seeds and fertilizers to farmers, along with equipping them with the latest technology.

    It is true that Ayub Khan’s Green Revolution changed the economic fate of the adolescent country. And a revolution of sorts is very much needed: according to PM Shehbaz, state-owned agricultural enterprises are losing PKR 600 billion annually. He noted that Pakistan imports $4.5 billion worth of palm oil, a burden on the national economy.

    At the inauguration ceremony, PM Shehbaz said that gulf countries were ready to invest in the agriculture sector and export modern machinery to Pakistan, in order to boost the production of crops in the country.

    According to The News, PM Shehbaz stated, “It is [a] demand of our national security that the country’s food security and economic security should be strengthened.”

    The inaugural seminar was attended by federal ministers, provincial chief ministers of Punjab and Sindh, chief secretaries of provincial governments, agricultural experts, and farmers from all the provinces.

    Chief of Army Staff General Asim Munir also attended the seminar as the guest of honour. He pledged the Pakistan Army’s full support for all the initiatives that fall under the Special Investment Facili­tation Council, one of which is the Green Pakistan Initiative.

    According to The News, agriculture experts and farmers highly appreciated the landmark initiative, praising the focus on promoting modern technology, the collaboration of public and private sectors, as well as trickling down dividends to local farmers in order to alleviate poverty.

  • Najam Sethi withdraws from chairmanship of PCB

    Najam Sethi withdraws from chairmanship of PCB

    Pakistan Cricket Board (PCB) Management Committee Chairman Najam Sethi announced on Monday night via his Twitter account that he was withdrawing from the race for the board’s chairmanship as he did not wish to be a “source of contention” between the political partners in the coalition government.

    Referring to the atmosphere of uncertainty and instability as unsuitable for the board, he stated that he was going to step aside from the race for the PCB’s chairmanship. “I don’t wish to be a source of contention between Asif Zardari and Shehbaz Sharif,” he tweeted on Tuesday.

    “Such instability and uncertainty are not conducive to the PCB. Given the circumstances, I am not a candidate for the Chairmanship of the PCB. Good luck to all stakeholders.”

    Sethi expressed similar sentiments a few days ago, emphasising his reluctance to be involved in the controversy.

    “I have heard speculation surrounding the PCB chairmanship. I do not involve myself in this matter as it depends on the patron,” he said while speaking to media in Lahore on Friday. He also mentioned that he would accept any decision made by Prime Minister Shehbaz Sharif, who is also the PCB’s patron.

    “Our responsibility was to restore the 2014 constitution. At this point, we are prepared for elections with regional and departmental representatives on board. We are awaiting two nominees, after which I will announce the election.

    “If you ask me, I do not want a mess. If the patron and Zardari sahab want me to continue, I will be okay with it. If they want Zaka sahab to become the chairman, I would welcome their decision and step down,” he added.

    The appointment of the PCB chairman has become a point of contention between the ruling coalition government’s two main political partners.

    The Pakistan People Party (PPP) desires the return of former PCB chairman Zaka Ashraf to the post, while the Pakistan Muslim League-Nawaz (PML-N) wishes for Sethi to continue his role at the PCB.

    The PPP’s stance on the matter is that since its minister heads the Inter-Provincial Coordination Division and the PCB is related to the ministry, its chairman should be appointed by the party.

  • Fact-check: Is the First Lady of Pakistan ill?

    Fact-check: Is the First Lady of Pakistan ill?

    Claim: A screen grab of a news channel apparently airing news that Prime Minister (PM) Shehbaz Sharif’s wife Tehmina Durrani is experiencing heart trouble is doing the rounds on social media.

    The screenshot says that Tehmina Durrani is experiencing heart complications.

    Fact: Taking to Twitter, Durrani clarified that she is doing very well.

    She wrote, “A country that makes falsehood it’s national language needs to recognise that TRUTH is Islam. By the grace of God, I am very well.”

    VERDICT: The news is false.

  • PM Shehbaz’s wife attended Fatima Bhutto’s wedding

    PM Shehbaz’s wife attended Fatima Bhutto’s wedding

    First Lady of Pakistan and bestselling author Tehmina Durrani attended former Prime Minister (PM) Zulfiqar Ali Bhutto’s granddaughter Fatima Bhutto’s wedding which took place in Karachi a few days ago.

    While sharing a picture of herself with the newlyweds, Durrani wrote: “Fatima Bhutto and Gibran’s marriage is an important message of simplicity for the entire nation.”

    It is pertinent to mention that the history of ties between the Bhutto family and Tehmina goes way back to the 1970s when she was married to former Punjab Governor Ghulam Mustafa Khar, who was one of Bhutto’s closest confidants. However, after Tehmina got divorced from Khar, she remained in touch with Bhutto’s son Murtaza’s family.

    Fatima Bhutto, who is also a famous writer, got married in an intimate ceremony at her family home in Karachi’s 70 Clifton on April 28, with the simple nuptials held in her grandfather’s library.