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Tag: PTI

  • Nawaz ready to support COAS’s extension legislation, but has conditions: report

    Former prime minister (PM) has agreed to lend support for the legislation in army chief Gen Qamar Javed Bajwa’s extension matter, but with a condition, The Express Tribune reported.

    According to the details, former premier is flexible to supporting the Pakistan Tehreeke Insaf (PTI) government legislation to fix the army chief’s tenure but has reservations on giving a legal cover to giving extension to an army chief.

    The government reportedly before filing a review petition against the Supreme Court’s verdict in Gen Bajwa’s extension case tried to gain support of the opposition parties, including Pakistan People’s Party (PPP) and Pakistan Muslim League-Nawaz (PML-N), for required legislation.

    “The government had approached us through intermediaries”, reports quoted unknown officials from two opposition parties belonging to the PPP and the PML-N.

    But after failing to gather ‘desirable support’ from them, the government after nearly a month decided to file review petition in the apex court.

    Reports also reveal that a senior legal advisor of the PML-N has said that most party lawmakers believe that by supporting the ruling government on the extension issue could potentially harm the party’s own narrative which it has adopted since the disqualification of Nawaz Sharif as PM on July 28, 2017.

    He furhter alleged that the government stage-managed the arrest of PML-N leader Ahsan Iqbal and denied Maryam Nawaz permission to fly abroad to London after its failure to bend the PML-N and secure ‘unconditional support’ for the extension legislation.

    On the other hand, the PPP has reportedly set certain preconditions for supporting the legislation, which include proposed legislation on the NAB [National Accountability Bureau] law, the appointment of chief election commissioner, and elections reforms.

    On November 28, the Supreme Court had allowed the federal government to grant a six-month conditional extension to Chief of Army Staff (COAS). SC also directed the government to bring necessary legislation within six months’ time.

  • Govt may challenge Musharraf’s death penalty verdict: Babar Awan

    Govt may challenge Musharraf’s death penalty verdict: Babar Awan

    Pakistan Tehreek-i-Insaf (PTI) leader and promi­nent lawyer Babar Awan has claimed that the government was examining the option of challenging the conviction of former military ruler Gen (r) Pervez Musharraf, Dawn reported.

    According to the details, Babar during a press conference said that if it deemed appropriate, the PTI government could file an appeal while the convict could also challenge the decision of the special court.

    He also rejected the argument that the government being the complainant in the high treason case could not file an appeal.

    Awan recalled that former premier Nawaz Sharif and his brother Shahbaz Sharif had been disqualified on a federal government complaint and the government went in appeal after the change of regime, adding that the treason case against Musharraf had been filed by the former prime minister (PM) with the consultation of his brother, but they both were silent on the conviction.

    The PTI leader cited the case of slain PM Benazir Bhutto who had been convicted while she was abroad, saying that an appeal on her behalf was taken up by the then Chief Justice Irshad Hasan Khan who held that the appeal of a person convicted in absentia could be heard in his/her absence.

    Babar said that the appeal had been taken up and the judgement set aside.

    He also insisted that nobody should think of a clash between institutions as the government of PM Imran had a resolve to run the institutions within their constitutional and legal framework preserving their honour and dignity.

    A special court trying the ex-preisdent last week sentenced him to death for imposing a state of emergency on November 3, 2007, adding that it had found him guilty of high treason in accordance with Article 6 of the Constitution of Pakistan.

  • Zardari will sign plea bargain deal by March: Sheikh Rasheed

    Zardari will sign plea bargain deal by March: Sheikh Rasheed

    Minister for Railways Sheikh Rasheed Ahmed has claimed that former president Asif Ali Zardari will sing a plea bargain deal in corruption cases “by the end of March”, Pakistan Today reported.

    According to the details, the minister during a media talk at the Bahria University in Islamabad has said, “If Bilawal doesn’t accept a plea bargain deal, his political career will be finished.”

    Shiekh Rasheed said that Pakistan Tehreeke Insaf (PTI) government has been taking steps to address the issue of inflation, adding that only Prime Minister (PM) Imran Khan can take people out of their problems.

    The minister also urged youth to play their role in the progress of the country and asserted that a strong economy was important to formulate independent policies and ensure a strong defence.

    Rasheed also regretted the attack on the Punjab Institute of Cardiology (PIC) in Lahore by a disgruntled mob of lawyers.

  • KP govt approves Rs 700 million for tourism police

    Chief Minister Khyber Pakhtunkhwa (KP) Mahmood Khan has approved Rs 700 million budget for the formation of tourism police in the province. The decision was taken to promote tourism in the province.

    The tourism police, consisting of 500 personnel, will protect tourists and tourist spots across the province.

    The decision was taken in a meeting on tourism promotion in the province.

    During the meeting, it was also decided to start the KP Tourism Authority, as well as outsource Pakistan Tourism Development Corporation’s devolved assets. Construction of hotels around tourism spots was also discussed.

    CM Mahmood also approved Rs 500 million for the ‘Home Cities Project’ set to be built at three scenic tourist spots.

    Moreover, Rs 500 million was allocated for marketing scenic tourist destinations to attract tourists.

  • Kp govt to launch ‘Online Sabzi Mandi’ with free home delivery

    The Khyber Pakhtunkhwa (KP) government has decided to launch an Online Sabzi Mandi with free home delivery option to ensure the provision of quality household commodities at citizens’ doorsteps, a private media outlet has reported.

    According to the details, the KP government is developing a mobile app which according to the Directorate General Information of KP, will be inaugurated by Chief Minister (CM) Mahmood Khan in January.

    The citizens with the help of this app will be able to order groceries and fruits online at government notified rates without any delivery charges and it will be available on both the Google Play Store and Apple’s App Store.

    In the first phase, the online service will be launched in four districts of the province including, Mardan, Abbottabad, Peshawar, and Dera Ismail Khan.

    This online platform will provide all household items such as vegetables, fruits, grains and other food items on government applied rates.

  • ‘Don’t panic, exciting times ahead’, PM Imran promises relief, again

    ‘Don’t panic, exciting times ahead’, PM Imran promises relief, again

    Prime Minister (PM) Imran Khan has again asked the nation not to panic, as exciting times promising end to poverty and price hike were just around the corner, The News International reported.

    According to the details, PM while launching ‘Digital Pakistan’ — a government initiative aimed at introducing the latest technology for public welfare — said that the country will experience a quantum leap ahead, adding that his government will not rest until the elimination of price hike.

    “E-governance is necessary to curb corruption, which is rampant across the country at all levels. This initiative will ease the lives of citizens. Our government will put all out efforts to promote Digital Pakistan. The future of Pakistan is very exciting,” PM Imran said.

    The primier said that the campaign will “unleash the youth’s potential” in the country, adding that developments in the digital arena were taking place at a fast pace, and in future everything would be done through a mobile phone.

    Imran Khan said, “The vision sets Pakistan’s digital ambition and has been designed both for the public and private sector to work towards a digitally progressive and inclusive Pakistan”. He added, with the introduction of ‘Digital Pakistan Vision’, the full potential of contribution of the youth and the women to the economy will be unleashed.

    The premier while regretting that he had not launched this project at the very beginning when his government was formed, said “I should have given attention to a Digital Pakistanearlier. This is the most important thing for Pakistan right now, especially its youth. The whole world is moving forward digitally and we have been left behind”.

  • ‘Misbah was made chief selector, coach on Maulana Tariq Jamil’s recommendation’

    Pakistani journalist Sohail Warraich has claimed that Misbahul Haq was given the role of both chief selector and head coach on the recommendation of famous religious scholar Maulana Tariq Jamil.

    The journalist has made these claims in his latest column, in which he has said that no one in this country knows cricket better than Prime Minister (PM) Imran Khan and claimed that every change in Pakistan cricket is happening on PM Imran’s order.

    Sohail said that Maulana Tariq Jamil is one of Pakistan’s most loved personality and rejecting his orders is considered as a grave sin, therefore PM Imran while honouring his love with Maulana Tariq “gave these responsibilities to Misbah”.

    Warraich further claimed that batsman Babar Azam was made the captain of cricket team on Imran Khan’s order.

    “Khan appointed Misbah as coach and chief selector and Babaq Azam as team’s captain, but he [Imran] shouldn’t be held responsible for their poor performance”, Sohail added.

    Earlier, Pakistan Tehreeke Insaf (PTI) Senator Faisal Javed had said that PM Imran Khan will now focus on improving sports, especially cricket.

    “The premier could not concentrate on cricket earlier as he was focused on stabilising the economy and strengthening the institutions, which were in shambles”, reports quoted Faisal Javed as saying.

    The statement from the senator came after Pakistan cricket team’s poor performance against Australia and Srilanka in Test and T20 series, respectively.

  • Firdous Awan sees opposition’s hand in Bajwa’s extension case

    Firdous Awan sees opposition’s hand in Bajwa’s extension case

    Special Assistant to the Prime Minister (PM) for Information and Broadcasting Firdous Ashiq Awaz has claimed that the mafia behind the petitioner who submitted the application against Chief of Army Staff (COAS) Gen Qamar Javed Bajwa’s extension is interlinked with the opposition parties.

    While talking during a talk show on a private news outlet, Firdous said that “PM Imran Khan has all the intelligence report, containing the information and facts about the mafia who wanted to get Gen Bajwa removed from COAS’s position and was involved in this issue”.

    PM’s aide while talking about the Army Act ammendent issue said that “Opposition parties are trying to use this opportunity as a bargaining chip and is trying to pressurize the government with their statements against this legislation [due to be passed in parliament].

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    She also said that the mafia’s involvement in this matter can also be gussed by the fact that “when Supreme Court suspended COAS’s extension notification, the stock market suffered a severe blow”.

    The Supreme Court November 26 had suspended the notification confirming the extension of Gen Bajwa for another three years, saying that the “prime minister has does not have the power to extend the tenure of the army chief”.

    Later after hearing the case for two days the court announced its short order allowing Gen Qamar Javed Bajwa to remain the Chief of Army Staff for another six months, during which the parliament will legislate on the extension/reappointment of an army chief.

  • Pakistan declared ‘more attractive destination for global investors than India’

    An international credit rating agency, Moody’s Investors Service, has upgraded the outlook for Pakistan’s economy from negative to positive, declaring the country a more attractive destination for global investors than India as the latter’s credit outlook downgraded to negative earlier this year, Sputnik News reported.

    According to the agency, upgrade in Pakistan’s status is driven by “Moody’s expectations that the balance of payments dynamics will continue to improve”. On the other hand, it said that India’s outlook downgraded, “on concerns that its economic growth would remain materially lower than in the past”.

    “Moody’s decision to change the outlook to negative reflects increasing risks that economic growth will remain materially lower than in the past, partly reflecting lower government and policy effectiveness at addressing long-standing economic and institutional weaknesses than Moody’s had previously estimated, leading to a gradual rise in the debt burden from already high levels.”

    Meanwhile, Prime Minister (PM) Imran Khan’s Adviser on Finance and Revenue Dr Abdul Hafeez Sheikh said the upgradation of outlook to stable was affirmation of the government’s success in stabilising the country’s economy and laying a firm foundation for robust long term growth.

    The announcement also pushed Pakistan’s stock market above 40,000 points — highest after a gap of 10 months.

    The premier himself has also claimed that over the first four months of the current fiscal year beginning April 2019, Pakistan’s current account deficit fell by 73.5%, as compared to the same period last fiscal year. “The country’s exports of goods and services in October 2019 rose 20 per cent over the previous month and 9.6 per cent over October 2018.”

  • Pakistan repays $1 billion Sukuk bonds issued by PML-N govt

    Pakistan repays $1 billion Sukuk bonds issued by PML-N govt

    Pakistan has successfully reapaid a foreign debt of over $1 billion, shaking up the country’s foreign currency reserves on the day Moody’s rating agency upgraded Islamabad’s credit rating outlook to from ‘negative’ to ‘stable’, Express Tribune reported.

    According to the details, Pakistan on Monday has paid back around $1 billion on maturity of five-year international Sukuk.

    “We paid over $1 billion including interest payment at the maturity of a Sukuk today (Monday),” reports quoted SBP’s official as saying.

    Pakistan had earlier launched a $-denominated Islamic bond worth $1 billion with a five-year tenure in the international bond market in November 2014, during the Pakistan Muslim League-Nawaz (PML-N) government’s tenure. The sovereign bonds were issued at a rate of 6.75%.

    The bond got matured in November 2019 and accordingly, the State Bank of Pakistan (SBP) has repaid $1 billion, borrowed to build the foreign exchange reserves.

    A sukuk is an Islamic financial certificate, similar to a bond in Western finance, also commonly referred to as “sharia compliant” bonds. Since the traditional Western interest-paying bond structure is not permissible, the issuer of a sukuk sells an investor group a certificate, and then uses the proceeds to purchase an asset, of which the investor group has partial ownership. The issuer of the sukuk bond must also make a contractual promise to buy back the bond at a future date at par value.

    The said payment from the SBP’s foreign exchange reserves will be reflected in the next weekly forex report. However, the reports reveal that with this repayment, the SBP’s reserves will most likely slip below $7 billion.

    Moody’s in its report has highlighted that Pakistan’s foreign exchange reserve adequacy remains low, adding that that foreign exchange reserve adequacy will take time to rebuild.

    At the time of launching the Sukuk, the bond fetched bids amounting to $2.3 billion, five times higher than the actual target set by the government.

    The government had planned to raise $1-2 billion in fresh foreign debt before the Sukuk payment was made.  The floating of new Sukuk and Eurobond has remained pending for long.

    At the time of launching the Sukuk bond, it fetched bids amounting to $2.3 billion which is five times higher than the actual target set by the government.

    The government had planned to raise $1-2 billion in fresh foreign debt before the Sukuk payment was made. The floating of new Sukuk and Eurobond has remained pending for long.