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Tag: Shehbaz Sharif

  • Dar says assurance of funding from friendly countries is the final hurdle in securing IMF deal

    Dar says assurance of funding from friendly countries is the final hurdle in securing IMF deal

    On Thursday, Finance Minister Ishaq Dar announced that the assurance of funding from “friendly countries” was the final obstacle to securing an IMF deal that would provide critical support to Pakistan’s struggling economy and prevent an economic crisis.

    During a session of the country’s upper house of parliament, Dar revealed that several countries had previously made commitments to support Pakistan during IMF reviews, and the IMF was now requesting that these commitments be fulfilled.

    The delay in securing the deal, which involves a $1.1 billion bailout package from the IMF, has been ongoing since November due to issues surrounding fiscal policy adjustments. The package is part of a larger $6.5 billion bailout approved by the IMF in 2019, which is crucial for Pakistan to avoid defaulting on external payment obligations.

    The deal would also allow Pakistan to access other financing avenues to bolster its foreign exchange reserves, which currently only cover four weeks’ worth of imports.

    The IMF has asked Pakistan to secure assurance of up to $7 billion to cover this year’s balance of payments gap, while Dar believes that $5 billion would suffice.

    An IMF mission has been present in Islamabad since February to negotiate a set of policy measures for Pakistan’s struggling economy, ahead of the annual budget due in June.

    Prime Minister Shehbaz Sharif stated that all of the IMF’s conditions had been met, and expressed hope that a staff level agreement would be reached soon.

  • PM Shehbaz expresses concern over IMF conditions burdening people

    PM Shehbaz expresses concern over IMF conditions burdening people

    The Prime Minister, Shehbaz Sharif, has shown worry that the terms set by the International Monetary Fund (IMF) will result in an increased burden on the citizens.

    During an appearance on the Geo News program Capital Talk, the Prime Minister attributed the stringent conditions to the previous government, alleging that they had breached their commitments to the IMF.

    Consequently, the IMF is insisting that Pakistan fulfills all of the conditions regardless of the cost, according to the Prime Minister. He acknowledged that many people in Pakistan are having trouble putting food on the table, purchasing medication, and paying for their children’s education.

    The Prime Minister claimed that former Prime Minister Imran Khan almost defaulted on Pakistan and damaged the country’s relations with numerous friendly countries. However, he stated that his government had provided relief to underprivileged individuals through the Benazir Income Support Program.

    He further stated that inflation was caused by the increased cost of imported goods as commodity prices rose due to the Russia-Ukraine conflict. In Pakistan, inflation is expected to reach its highest level in nearly 50 years.

    Additionally, Pakistan is struggling to obtain funding from friendly nations, resulting in a delay in the IMF bailout. The IMF Managing Director, Kristalina Georgieva, recently urged Pakistan to increase tax revenues and distribute subsidies only to those who truly require them. She emphasized that the IMF is dedicated to protecting the impoverished people of Pakistan.

  • Punjab govt to provide free flour to 15.8 million deserving households during Ramzan

    Punjab govt to provide free flour to 15.8 million deserving households during Ramzan

    Prime Minister (PM) Shehbaz Sharif has announced a scheme to provide free flour to impoverished individuals during the holy month of Ramzan. The premier stated that the distribution of free flour will encompass 15.8 million households throughout Punjab from 25 Sha’ban to 25 Ramzan.

    To ensure effective implementation of the scheme, the Prime Minister directed the utilisation of 8,500 utility stores and the establishment of an additional 20,000 distribution points for public convenience.

    Moreover, PM Shehbaz stressed the need for the transparent and modern distribution of free flour among the poor while also emphasising that the quality of flour provided should be of the highest standards.

    Eligibility for the program can be confirmed through SMS, and the federal government will also support other provinces in this regard.

    During a review meeting to discuss the distribution of free flour under the Ramzan package, chaired by the Prime Minister himself, the Punjab government provided a detailed briefing on the program.

    The meeting was attended by the Caretaker Chief Minister Punjab Syed Mohsin Raza Naqvi, Adviser to the Prime Minister Ahad Cheema, and other relevant senior officials.

    This decision is expected to bring much-needed relief to the underprivileged during the holy month of Ramzan. By utilising modern technology and additional distribution points, the distribution of free flour can be carried out efficiently and transparently, ensuring that the benefits reach those who are most in need.

  • Nawaz gets a Mercedes, Zardari BMWs: New list of Toshakhana gifts reveals what previous govts kept for themselves

    On Sunday, the government officially released long-awaited records regarding the gifts received by public office holders from foreign governments and dignitaries since 2002.

    The Toshakhana, established in 1974, is a department under the administrative control of the Cabinet Division and is responsible for the storage of precious gifts given to rulers, parliamentarians, bureaucrats, and officials by heads of other governments and states, as well as foreign dignitaries.

    As per the Toshakhana rules, gifts, presents, and other such materials received by persons to whom these rules apply must be reported to the Cabinet Division.

    The department has been in the news in recent months due to the proceedings against former Prime Minister Imran Khan for “not sharing details” of Toshakhana gifts. The Prime Minister of Pakistan, Shehbaz Sharif, announced last month the government’s plan to release the entire record to the public. In addition, officials have been barred from retaining gifts worth more than $300.

    Below are some of the noteworthy gifts kept by political leaders over the years from the Toshakhana:

    Nawaz Sharif

    Nawaz Sharif, the three-time former Prime Minister and PML-N chief, has retained several expensive items over the years. In April 2008, he kept a Mercedes Benz worth Rs4.2 million after paying Rs636,888 for it. In November 2013, he retained a Rolex wristwatch valued at Rs1.18 million after paying a total of Rs243,000 for it and some other items.

    In January 2015, he kept a Piaget wristwatch worth Rs1 million after paying Rs240,000 for it and a box of perfumes. In January 2016, he retained a Christopher Claret watch (Rs2 million), a ring (Rs19.5 million), and a pair of cufflinks (Rs16 million) after paying a total of Rs7.6 million for them and some other items.

    In February 2016, he kept a Dela Cour watch (Rs3.2 million), a ring (Rs8 million), and a pair of cufflinks (Rs5 million) after paying Rs3.2 million for them.

    In October 2016, he retained two Rolex watches, one worth Rs1.2 million and the other Rs850,000, after paying Rs469,000 for them and some other items. In March 2017, his son Hussain Nawaz retained a Rolex watch worth Rs940,000 after paying Rs186,000 for it.

    In May 2017, Nawaz retained a Rolex wristwatch worth Rs4 million after paying Rs808,000 for it.

    Additionally, in January 2016, Nawaz’s wife Kulsoom Nawaz retained a bracelet worth Rs12.7 million and a necklace and earring valued at Rs41.6 million after paying Rs10.8 million for them. In March 2017, Nawaz retained a diamond necklace worth Rs1 million after paying Rs207,560 for it and a table watch.

    Imran Khan

    In September 2018, Imran Khan, the former Prime Minister and Chairman of Pakistan Tehreek-e-Insaf (PTI), retained several items from the Toshakhana including a Graff wristwatch (Rs85 million), a pair of cufflinks (Rs5.6 million), a pen (Rs1.5 million), and a ring (Rs8.75 million) by paying Rs20 million for them.

    In the following month of October 2018, he retained a Rolex watch, valued at Rs3.8 million, by paying Rs754,000 for it. He then retained another Rolex watch (Rs1.5m) in the same month by paying Rs294,000 for it. In November 2018, Imran retained another Rolex wristwatch (Rs900,000) by paying a total of Rs338,600 for it along with other items. In October 2019, he retained a boxed watch, assessed at Rs1.9m, by paying Rs935,000 for it.

    In September 2020, Imran retained another Rolex watch, assessed at Rs4.4 million, along with other gifts by paying Rs2.4 million for them. In the same month, his wife Bushra Bibi retained a necklace (Rs10m), bracelet (Rs2.4m), ring (Rs2.8m), and a pair of earrings (Rs1.85 million) by paying Rs9 million for them.

    Asif Ali Zardari

    In January 2009, former President and co-chairperson of the Pakistan People’s Party (PPP), Asif Ali Zardari, retained a BMW car (Rs57.8 million) and a Toyota Lexus (Rs50 million) after paying a total of Rs16.1 million for them. Additionally, he retained another BMW car (Rs27.3 million) after paying Rs4 million.

    In March 2011, Zardari retained a wristwatch (Rs1 million) after paying Rs158,250 for it and other items. Later, in June 2011, he retained a Corum wristwatch (Rs1.25 million) after paying Rs189,219 for it and other items. In October 2011, Zardari retained another Cartier wristwatch (Rs1m) after paying Rs321,000 for it and a gun.

    Arif Alvi

    In October 2019, Samina Alvi, the wife of President Dr Arif Alvi, retained a necklace valued at Rs1.19 million after making a payment of Rs865,000 for it, along with other items in a jewellery box.

    In February 2022, President Dr Arif Alvi retained a Rolex wristwatch valued at Rs2.5 million, after making a payment of Rs1.2 million for it.

    Raja Pervaiz

    In November 2012, former prime minister and National Assembly Speaker Raja Pervaiz Ashraf retained a Graff wristwatch, which was assessed at Rs890,000. He paid a total of Rs218,000 for the wristwatch and other items.

    Shahid Khaqan Abbasi

    In October 2017, ex-premier Shahid Khaqan Abbasi retained a Hublot wristwatch (Rs15 million), a pair of cufflinks (Rs1.2 million), a pen (Rs1.5 million), a ring (Rs3 million), and prayer beads (Rs1.85 million) after paying Rs4.5 million for them. His wife, Sameena Shahid, also retained a jewellery set (Rs99 million) after paying Rs19.99 million for it.

    In November 2017, Abbasi retained a Rolex watch boxset (Rs23 million) after paying Rs4.59 million for it. In April 2018, he retained a Rolex wristwatch (Rs25 million) after paying a total of Rs5.27 million for it and other items.

    Pervez Musharraf

    As per the official record, it was revealed that the total value of the gifts presented to the former military ruler, Gen (retd) Pervez Musharraf, in 2004 amounted to more than Rs6.5 million. Among these gifts, a watch gifted to Musharraf in 2005 was worth Rs500,000. Numerous other precious items such as watches, jewelry boxes, and various other gifts were also presented to the former president, who retained them after paying the required amount.

    In 2003, Musharraf’s wife, Sehba Musharraf, received a jewelry box worth over Rs2.6 million. Additionally, on April 6, 2006, she received gifts worth Rs1.65 million, while on August 1, 2007, the value of her received gifts stood at Rs3.4 million. On April 3, 2007, she was presented with gifts worth over Rs10 million, and on January 31, 2007, Musharraf himself received gifts valued at Rs1.4 million.

    Shaukat Aziz

    In 2005, former Prime Minister Shaukat Aziz received a watch worth Rs850,000, which was later auctioned off for Rs355,000. Aziz had kept several other gifts by claiming their value to be below Rs10,000. On September 27, 2007, he received another watch worth Rs1.35 million.

    On December 20, 2006, Aziz received gifts worth Rs3.7 million, which he chose to retain. However, during 2006, he returned several other gifts to the Toshakhana. On June 2, 2006, he received a watch worth Rs1.35 million. On January 7, 2007, the former premier received gifts valued at Rs1.8 million. On February 24, 2010, he received a watch worth Rs1.2 million but returned it to the Toshakhana.

    Yousuf Raza Gillani

    In December 2009, former prime minister Yousuf Raza Gillani’s wife, Fauzia Gillani, retained a jewellery set (Rs2 million) after paying Rs326,043 for it.

  • Record of Toshakhana gifts will be posted online soon, promises Khawaja Asif

    Record of Toshakhana gifts will be posted online soon, promises Khawaja Asif

    The federal cabinet under the supervision of Prime Minister (PM) Shehbaz Sharif has decided to make the details of state gifts received over the past two decades available to the public soon.

    Defence Minister Khawaja Asif announced the development on his Twitter account where he revealed that the declassification of Toshakhana records has been allowed by the cabinet, adding that the record would be posted soon on the website of the cabinet division.

    Last year in June, PM Shehbaz Sharif constituted a ministerial committee to redesign Toshakhana policy.

    Toshakhana has been at the center of a political storm since 2021 when former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan was accused of hiding details of the gifts he received during his tenure. A case and an investigation pertaining to the same are currently going on.

    However, responding to the controversy Khan said that the gifts were given to him, therefore it was his choice to keep them or not.

    Last year, the Election Commission of Pakistan (ECP) also disqualified the PTI chief as Member of the National Assembly (MNA) in the Toshkhana case.

    Recently, non-bailable arrest warrants were issued for Khan in the Toshkahana case because of his continued absences from Toshakhana court hearings. Last week, Islamabad Police reached Zaman Park to arrest the PTI chief, however, he managed to evade it.

    Later, the Islamabad High Court (IHC) suspended the arrest warrant but directed Khan to appear before the trial court by March 13 or face the proceedings of declaring him a proclaimed offender.

  • Pakistan ‘very close’ to signing staff-level agreement with IMF, says Finance Minister

    Pakistan ‘very close’ to signing staff-level agreement with IMF, says Finance Minister

    Finance Minister Ishaq Dar has reaffirmed his team’s commitment to completing Pakistan’s $7 billion Extended Fund Facility programme with the International Monetary Fund (IMF).

    Speaking at a seminar organised by the Finance Ministry in Islamabad, Dar acknowledged the need for swift implementation of measures to reach an agreement with the IMF as the country has reserves barely sufficient for three weeks of essential imports.

    He noted that the government had inherited an economy that was “in a shambles” and that it had decided to honour the commitments made by the previous administration, despite a serious trust deficit with the lender.

    According to Dawn, the minister also confirmed that Pakistan was “very close” to signing a staff-level agreement with the IMF, which would unlock inflows from friendly countries and lead to a disbursement of $1.2 billion. The prerequisites by the lender are aimed at ensuring Pakistan reduces its fiscal deficit before its annual budget around June. The country has already taken most of the other prior actions, including hikes in fuel and energy tariffs, the withdrawal of subsidies in export and power sectors, and generating more revenues through new taxation in a supplementary budget.

    Furthermore, Dar highlighted the need for all stakeholders to contribute to overcoming the challenges facing the country, including the implementation of austerity measures. These measures, which include cabinet members forgoing their salaries, paying their own bills, banning the purchase of luxury vehicles from 2024, and slashing current expenditure by 15 per cent, have already been implemented and notified to the Finance Ministry.

    Dar also noted that Pakistan’s economic difficulties were compounded by the devastating 2022 floods, which affected 33 billion people and caused physical and economic losses of nearly $30 billion.

    Despite fiscal constraints and limitations, Dar pledged that the federal and provincial governments had jointly allocated Rs452 billion for relief and rehabilitation work of flood affectees. International agencies have calculated that around $16 billion would be required for reconstruction and rehabilitation work in Pakistan in the next two years, half of which will be met by Pakistan from its own resources.

  • Bazi lay gaya Khan: 61 per cent Pakistanis positively rate PTI chief

    Bazi lay gaya Khan: 61 per cent Pakistanis positively rate PTI chief

    Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan is “positively rated” among 61 per cent of Pakistanis, whereas only 36 per cent have a “good opinion” about Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif.

     According to a survey titled Public Pulse Report published by Gallup Pakistan, around 2,000 respondents participated in providing data for the survery.

    According to the report, Khan received a positive rating from 61 per cent of the population while 37 per cent rated him negatively.

    Prime Minister (PM) Shehbaz Sharif was rated negatively by 65 per cent of Pakistanis while 32 per cent gave him a positive rating. However, people from Punjab rated him better as compared to other provinces.

    As for Foreign Minister Bilawal Bhutto-Zardari, 36 per cent rated the Pakistan People’s Party (PPP) chairman positively while 57 per cent gave him a negative rating. Of all the provinces, he got most positive ratings from Sindh.

    PML-N Senior Vice President Maryam Nawaz, however, was rated negatively by 61 per cent while 34 per cent gave her a positive rating.

    Former president Asif Ali Zardari was rated negatively by 67 per cent while 27 per cent rated him positively.

  • ‘Bilawal jawan admi hai, usay ghussa barri jaldi aajata hai’: Zardari about son’s threat to leave ministries

    Pakistan People’s Party (PPP) Co-Chairperson Asif Ali Zardari while talking about his son, Foreign Minister Bilawal Bhutto-Zardari, said that he is a young man and easily gets angry.

    “Bilawal is a young man; he gets angry quickly. I am used to showing patience for 67 years. He is Oxford returned; he does not believe in such things. He says a promise was made to me [by the federal government]; where is the money? Either you shouldn’t have made the promise, now that you have, you should fulfill it,” said Zardari when talking about his son’s statement that PPP can leave ministries if promises made to flood victims were not fulfilled.

    Addressing a ceremony at the inauguration of Seed Subsidy programme for flood-affected farmers in Karachi on Sunday, March 5, Bilawal said, “Prime Minister [Shehbaz Sharif] and the federal government made promises for the flood victims, and those promises and announcements need to be fulfilled. I will be talking to the premier; we [will] take up this issue in the National Assembly.”

    “Wherever these promises were made need to fulfilled, otherwise it will be very difficult for us [PPP] to continue working in the ministry,” added Bilawal.

  • No loadshedding during Sehri and Iftar times, PM Shehbaz passes instructions

    No loadshedding during Sehri and Iftar times, PM Shehbaz passes instructions

    Prime Minister (PM) Shehbaz Sharif has directed his government to ensure that there is no loadshedding during Sehri and Iftar times in the holy month of Ramzan— set to start at the end of March.

    He also gave directions that there should be minimum loadshedding in the upcoming summer season and directed authorities to accelerate the process of solarising government buildings.

    He asked for the completion of all projects in the power sector and solarisation in the country within the stipulated time.

    Earlier this year, Pakistan faced an energy crisis when a major power outage left the entire country without electricity for more than 12 hours.

    Amid the energy crisis, last year, the premier formed a committee that worked on reducing electricity consumption in government offices by 30 per cent. He also ordered officials to convert federal government buildings to solar energy at the earliest.

  • UAE hints at acting as bridge between India and Pakistan

    UAE hints at acting as bridge between India and Pakistan

    United Arab Emirates (UAE) Ambassador to India, Abdulnasser Jamal Alshaali, in an interview with The Hindustan Times said that his country has played a role in the past in addressing tensions between India and Pakistan, though any future role it might play would be up to both neighboring countries. 

    Talking to Foreign Editor at The Hindustan Times, Rezaul Hasan Laskar about Pakistani Prime Minister (PM) Shehbaz Sharif’s remarks about asking the UAE to help build a bridge with India, the ambassador said his country has “played such a role in the past”, but future endeavours will depend on both India and Pakistan.

    He also talked about expanding the gulf country’s relationship with India, saying that UAE is engaged in technical discussions to finalise a rupee-dirham arrangement for trade as part of the efforts to build on the free trade agreement signed by the two countries last year.

    He also said that UAE is keen on revisiting the arrangement for flights to India and introducing flights to more Indian destinations to help bring down airfare.

    He said: “If you check the price of a ticket today, it’s more than 50 per cent higher than it used to be a few years back or it used to be pre-Covid. That’s already a market signal that we need to pay attention to because we are talking about this entire relationship and aviation is a crucial point in expanding this relationship.”

    When asked about UAE’s plans to invest in food parks and renewable energy in India under the I2U2 framework, Jamal said the conversation between the Gujrat government and UAE is going on.

    In recent times, both countries have grown close. In November 2022, UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan visited India to further strengthen its bilateral relationship with India.