After releasing an advertisement attempting to disassociate itself from Israel in response to a broad boycott and declining sales due to the Gaza conflict, Coca-Cola is currently experiencing backlash in Bangladesh.
This year’s oldest Hajj pilgrim is an Algerian woman who is said to be 130 years old.
Dubai: Saudi Arabia saw the passing of the youngest pilgrims taking part in this spiritual pilgrimage as well as the welcoming of the oldest.
Sarahouda Stiti, an Algerian woman claiming to be 130 years old, has been acknowledged as the oldest Hajj pilgrim of this year.
Anchor Imran Riaz was placed under arrest last night and was kept in police custody for one day in connection with a fraud case by a Lahore district court on Wednesday.
As Riaz was leaving for Saudi Arabia for Haj on Tuesday night, he was arrested at the Allama Iqbal International Airport. Social media users shared the images of the arrest, which featured the journalist wearing an ihram.
The Nishtar Town police then brought him before Judicial Magistrate Muhammad Kamran Zafar. Riaz has been charged with abusing trust, according to the first information report (FIR), a copy of which is accessible on Dawn.com. It made reference to Pakistan Penal Code Section 406, which deals with punishment for criminal breach of trust.
The police requested a seven-day physical remand of Riaz during today’s session. According to the prosecution, the complainant had given the anchorperson a loan of Rs0.25 billion, which he never gave back.
In the meantime, Mian Ashfaq, Riaz’s attorney, claimed that the case against his client was fraudulent. He argued, “The complainant was an agent at Maryam Nawaz’s polling station.”
The court heard the arguments on both parties and then reserved judgment. He later gave police permission to physically remand Riaz for one day.
Petitions submitted to the LHC
The Lahore High Court (LHC) received a plea from Riaz’s attorney, Azhar Siddique, earlier in the day asking for information from the first information report (FIR) that led to the anchorperson’s detention.
Riaz was about to leave Lahore for the Haj from Saudi Arabia when “many civil-dresses officers from various authorities came and arrested him without providing any details” and “took him to an undisclosed location,” according to the appeal, a copy of which is accessible through Dawn.com.
“It is imperative that the respondents be summoned by this court and they inform this court as to which FIRs have now been registered, of course frivolously, against the applicant due to which he was illegally and arbitrarily arrested,” the statement read. “No information has surfaced as to which FIR was used to apprehend the Applicant on the eve of 11.06.2024.”
Additionally, it said that Riaz’s name was taken from the Exit Control List on June 11.
The appeal asked for the petition to be granted and for the Federal Investigation Agency (FIA), the interior secretary, the police, and the Anti-Corruption Establishment to be instructed to document the specifics of the Federal Investigation Report (FIR) that led to the anchorperson’s detention.
In a further filing, Riaz’s brother asked that the anchorperson be brought before the court and promptly released from “illegal and improper custody” in the LHC. A hearing before Justice Amjad Rafique has been scheduled.
The Punjab Inspector General, the Lahore Capital City Police Officer, the Cantt Superintendent of Police, the FIA Director, and the Director of the Cyber Crime Wing were included as respondents in the petition, which Dawn.com was able to view.
It said that Riaz was being held in “illegal and unlawful” detention after being “unlawfully and illegally” prevented from traveling overseas.
PTI demands quick release and denounces the detention.
The PTI, meanwhile, demanded that Riaz be released from custody, calling his detention “absolutely condemnable.”
In a post on X, the party stated, “[It] once again represents the complete destruction of moral values of Pakistan in the last two years.” It continued, “Have some sense, your actions hurt Pakistan only.”
The party lead by Imran Khan posed the question, “Is going to Haj now considered a crime in Pakistan?” in a different tweet.
Sher Afzal Marwat, the leader of the PTI, said he was speechless and vehemently objected to the detention.
Rearrest and arrest
Two days after PTI Chairman Imran Khan’s detention on May 9, violent demonstrations erupted across the nation, leading to the arrest of YouTuber and television presenter Imran Riaz.
After his arrest, he was reportedly transported to the Cantt police station and then to the Sialkot jail. A law enforcement official informed the Lahore High Court on May 15 that the anchorperson was freed from custody following the execution of a written undertaking. But his whereabouts were still a mystery.
Following that, on May 16, the father of the anchorperson, Muhammad Riaz, filed a first information report (FIR) with Sialkot Civil Lines police over Riaz’s purported kidnapping.
On the basis of allegations that “unidentified persons” and police officers had abducted Riaz, a formal complaint was filed under Section 365 of the Pakistan Penal Code, which prohibits kidnapping or abducting someone with the goal to unlawfully and covertly detain them.
In the LHC, the journalist’s father had also filed a petition for his recuperation.
The anchorperson’s father had broken down in tears in the LHC during the case’s hearing on May 19, asking for forgiveness because he didn’t know where his son had gone. The LHC chief judge gave the police instructions the following day to retrieve and deliver the anchorperson by May 22.
On that day, the Punjab inspector general reported that the journalist had not been seen at any police agency in the nation, leading the LHC to order the ministries of defense and interior to “discharge their constitutional duties to effect the recovery” of the anchorperson.
After then, the LHC was notified that the anchorperson was not under the custody of either Military Intelligence or Inter-Services Intelligence. The high court gave “all the agencies” until May 26 to collaborate in order to locate the anchorperson and have him appear in court by May 30.
When that day finally arrived, the Punjab IG informed the LHC that phone numbers linked to the case had been tracked back to Afghanistan.
In the June 6 hearing, the anchorperson’s attorney said that they were “wearing thin” despite the Punjab government having told the high court that they were making efforts to locate the journalist.
The LHC had set a deadline of July 25 for the police to find the missing journalist during the July 5 hearing. However, the bench’s absence prevented any hearing from taking place on the scheduled day.
During that specific session, the Ministry of Defence was represented by retired Brigadier Falak Naz, who told the court, “We are working on tracing locations and other issues.” Imran Riaz is being recuperated as quickly as possible.
After informing LHC on September 6 that the police will provide “good news” in the coming days, the Punjab IG was given till September 13 to make his decision.
Despite not being able to provide any significant “good news,” the Inspector General (IG) told the court on September 13 that the investigation was “going in the right direction.”
The Punjab police chief was granted a “last opportunity” by the LHC on September 20 to retrieve Riaz by September 26. The proceedings in a petition requesting his rescue were postponed until that date.
On September 25, he was at last freed following almost four months of “being missing.”
A special court later granted bail to Riaz after he was detained earlier this year in connection with a corruption case involving the construction of Dhrabi Lake in Chakwal. But the anchor was detained again in another incident involving violence outside PTI founder Imran Khan’s home in Zaman Park.
He was granted post-arrest release on March 10 by an anti-terrorism court, subject to the provision of Rs 200,000 in surety bonds.
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The Pakistani federal budget for 2024–2025 includes no funding for programs that support minorities. The budget records that WION studied show that there is no funding allocated to the “welfare of minorities initiatives/schemes” heading. This is in sharp contrast to the previous fiscal year (2023–24), when 100 million Pakistani Rupees were set aside for the welfare of minorities; the amended budget kept this amount the same.
The exclusion occurs at a time when Pakistan’s religious minorities—Hindus, Sikhs, Christians, and others—continue to confront many difficulties. These include the effects of strict blasphemy laws, violence, and institutional prejudice. The alarmingly high frequency of reports of forced conversions, kidnappings, and attacks on houses of worship has increased these communities’ vulnerabilities.
In the meanwhile, there has been an increase in the budget for religious matters. The budget for 2024–2025 includes an increase of Pakistan Rs 1,861 million for religious matters over the previous year’s allocation of Rs 1,780 million. The management of religious matters, including the well-being of Haj pilgrims, falls under the purview of Pakistan’s Ministry of Religious matters and Interfaith Harmony.
Additionally, the human rights division’s funding has been drastically reduced. The division has been given just 104 million Pakistani rupees for the fiscal year 2024–25, a significant decrease from the 814 million Pakistani rupees given to it the year before. Interestingly, out of the 814 million rupees allotted, the amended budget for 2023–24 showed that only 130 million rupees were actually spent, raising concerns about how the money was used.
Pakistan has also proposed a considerable budget for its military forces, which is another noteworthy expenditure. The planned Rs 2.12 trillion defense budget for 2024–25 is a 17.6% increase over the previous year. This demonstrates the government’s prioritization of military spending since it represents 1.7% of the nation’s GDP.
After taking a hiatus from performing, Fahad Mustafa is making a comeback to the drama scene with a production dubbed the largest love tale of the year.
Fahad Mustafa reappears on screen alongside Hania Aamir.
Famed actor, presenter, and producer Fahad Mustafa had taken a ten-year hiatus from TV drama work. Even though he was still hosting the popular show Jeeto Pakistan on the platform, his final production on Pakistan Television was Maye Ri, which attracted a lot of attention due to its original plot and generated a lot of debate.With Hania Aamir, Fahad is now making a comeback to the acting world. The two will work together on an ARY Digital love story titled Kabhi Main Kabhi Tum.
The show’s trailer has fans interested, even if the premiere date has not been disclosed.In Pakistan, Fahad Mustafa has been a well-known actor in both TV and movies. The actor also made the decision to concentrate on his film career in 2015, and he intended to visit Bollywood. After making his screen debut in Na Maloom Afraad, Fahad had revealed to Dawn in 2015 his plans to launch his Bollywood career. “I’m traveling to India for another film and I’m working on Mah-e-Meer right now.
Filming is scheduled to begin in the latter part of this year, most likely in September or October. I will shortly be making additional information available. But because Pakistani performers are prohibited from entering Bollywood, the actor was unable to succeed there.
Fahad has never shied away from speaking up against the business. Even after he stopped performing in plays, he had previously voiced concerns about the outbursts that aspiring actors would have at the time. Bol News said that Fahad said, “People have been asking me why I’m not doing plays. That is for a reason, and allow me to explain why I am hesitant to work on television dramas.I’ve already had the pleasure of working with stars like Vasay Chaudhary, Mahira Khan, Mehwish Hayat, and Humayun Saeed. The reason these people are stars is because they are easy to deal with and don’t throw fits.
Young people are hard to work with in Pakistani industry; vanity vehicles were unheard of, and we used to all sit in one room, but now days it’s impossible to sit and converse with strangers. You can’t get along with them, that’s what I’m talking about, not their skill.
The actor explained his decision to go from regular dramas to hosting when he made an appearance on the chat show G Sarkar in 2022. “I was exhausted and felt like I had done too many dramas.” One day, as we were sitting down to talk, I informed Momina Durraid that I wanted something that would provide me money every month. I had no desire to perform every day. Every day I didn’t want to get out of bed and head to a drama set. By then, I had my motions down to a memory. I was using the same bedroom and similar location for three different plays. The bed linens would not change either. I thus began hosting the morning program. I was chastised by others for it. However, it was what made me.
It helped me learn self-control and the worth of money. Fahad Mustafa remarked, “If you have the money, you start saying no to people; otherwise, I wouldn’t be able to do that.
Fahad said on the same broadcast that acting was different now. He made note of the fact that there was a lack of supporting actors, that performers were not prepared to hear scripts, and that the focus had shifted to clothing and money.
In terms of career, Fahad has acted in movies such as Actor In Law, Load Wedding, and Quaidi E Azam Zindabad, as well as television series such as Kankar, Dusri Biwi, and Main Abdul Qadir Hoon.
Losing intellectual capital due to excessive taxing policies is like murdering the goose to get the golden egg at a time when real capital is stuck in unproductive sectors like real estate.
The taxable are subject to taxation once more, as they were the previous year, the year before, and so on. The untaxed continue to be untaxed, but they receive a small reward for their tax exemption: a small rise in withholding taxes, which raises operating expenses.The budget can be considered conservative in its approach, since it avoids major initiatives and is anything but ambitious, given the estimated real GDP growth rate of around 3.6%. Its actions consist of broadening the present taxpayer base and not doing anything to bring current exempt companies and people into the tax net. The necessity to shift from a consumption- to an investment-oriented economy was made abundantly evident in Finance Minister Muhammad Aurangzeb’s address, but it provided no guidance on how this shift would be made.
Ambitious goals
To raise the tax-to-GDP ratio to 10.4%, the federal budget projects a 37.8% increase in tax revenue. This is a high goal because tax income increase of this magnitude is quite uncommon. Considering that inflation is predicted to be in the region of 15 percent, it is difficult to remember a time when tax revenue climbed by more than 20 percent in real terms without expanding the tax net. It will be difficult to achieve this considerable actual increase simply broadening the present tax base.
Income taxes are predicted to increase by almost 48%, which is another lofty goal. The salaried class’s tax burden has grown despite modifications to tax slabs, even though their tax rate has remained stable.
The salaried segment’s actual incomes have decreased by about 30 percent in the last five years. Raising taxes will further diminish after-tax income, putting further strain on salaried people’s finances.
Additionally, middle-class households’ tax incidence has also grown, further reducing their actual discretionary income. Household attitude is somewhat negatively impacted by this, and the country’s loss of intellectual capital is accelerated. Losing intellectual capital due to excessive taxing policies is like murdering the goose to get the golden egg at a time when real capital is stuck in unproductive sectors like real estate.
Simply put, the budget continues to prioritize current taxpayers while paying little attention to the untaxed population. The updated tax system for export-oriented businesses, which would increase corporation tax and decrease reinvestment incentives, is one significant shift. The majority of the rise in direct taxes is attributable to current taxpayers, suggesting that the tax base is being deeper penetrated rather than expanded.
Indirect levies
Examining indirect taxes reveals that a 36 percent rise in sales tax and a 33 percent increase in the Petroleum Development Levy are anticipated. Roughly 10% of all taxes are already accounted for by the latter. Since these taxes are inflationary by nature, overall costs will increase.
However, the manufacturer-distributor-retailer value chain may not be able to convince non-filers to become filers due to the rise in withholding taxes from 1 percent to 2.5 percent. Instead, manufacturers would probably pass the cost along to customers, which will add to inflation. Because there will be greater incentives to circumvent the official system, this climate will foster the growth of the informal cash market.
It’s unknown if assessments have ever been carried out to ascertain whether raising withholding taxes for non-filers has encouraged more people to file taxes. Moreover, it is debatable if individuals who submit are doing so in a fair manner. The long-standing practice of withholding taxes hasn’t done much to increase the number of non-filers who become filers.
Strict actions like disabling tax evaders’ SIM cards on their phones have made compliance even less likely.
In short, the budget demonstrates the flaws in the design of the tax policy. Without appreciably increasing compliance or tax collections, withholding taxes for non-filers raise operating expenses.
The typical taxpayers—corporations under the formal system, salaried people, and indirect taxes such as the Petroleum Development Levy—remain the primary payers of taxes. Vulnerable households suffer disproportionately from an ever-growing reliance on consumption-based indirect taxes as opposed to wealthy households.
Is there a benefit?
The budget, which aims for a real growth rate of 3.6 percent and places little dependence on outside financing to make up deficits, gives some promise for macroeconomic stability. This implies that domestic, as opposed to import-driven, growth will predominate. The proposal to privatize state-owned businesses that are losing money, especially the national airline and electricity distribution corporations, is another advantageous feature. Privatization may lessen the electricity industry’s ongoing losses and subsidies. But in order to do this, significant structural changes are needed, and the administration has indicated that it is willing to make these.
In terms of revenue, the budget has once again fallen short of expanding the tax base, which puts further strain on the formal and salaried sectors of society. Increased withholding taxes are probably going to hasten the transition from the formal to the informal sector.
Given that not much has been done to prevent it, an expansion of the cash economy is likewise likely. Although the budget is naturally inflationary, it is cautiously hopeful. It does little to reduce the informal economy and keeps punishing current taxpayers. It does not put any policies in place to accomplish this goal, despite its desire to promote investments. Cash-based capital that is not part of the system could nevertheless be moving, depriving the formal economy of resources. Because of this, overtaxed groups will continue to struggle to remain in the system and shoulder the weight of a limited tax base.
In summary, despite its optimistic estimates, the federal budget fails to address important concerns like expanding the tax base and instead implements inflationary policies.
It runs the danger of accelerating the shift from the formal to the informal sector by focusing only on current taxpayers and without providing incentives for non-filers to comply. Indirect taxes’ inflationary character further muddies the economic picture and might jeopardize attempts to attain sustainable development.
The load on the formal economy will only rise in the absence of substantial reforms and a wider tax base, making it more difficult for the nation to promote an atmosphere that is really investment-oriented and provide a route for long-term prosperity.
At the Nassau County International Cricket Stadium in New York on Wednesday, India defeated the USA by seven wickets to retain their top status in the T20 World Cup 2024 points standings.
The Men in Blue joined South Africa and Australia in the Super 8 after recording three straight victories.This is the T20 World Cup points standings following today’s game in New York.
Earlier, India had reduced the USA to 110/8 by batting first. Arshdeep Singh, an aggressive bowler, was India’s top bowler, recording the highest figures ever recorded by an Indian in the competition’s history (4/9).
He fired Harmeet Singh, Nitish Kumar, Andries Gous, and Shayan Jahangir.
With 27 points from 23 balls, Nitish was the sole batter representing the United States. Steven Taylor, the opener, added 24 (30).
In addition to Arshdeep, Hardik Pandya scored 2/14 and Axar Patel scored 1/25.
With bowler Saurabh Netravalkar removing Rohit Sharma (3) and Virat Kohli (0) in the powerplay, India was behind early in the chase.
While Suryakumar Yadav and Rishabh Pant bounce back, Ali Khan clean bowled Pant (18) to increase the strain on India.
However, Yadav and Shivam Dube’s outstanding collaboration saw India through to the finish line. Dube struck 31 off 35 balls, while Yadav stayed undefeated on 49 balls. The chase was finished in 18.2 overs.
Group A
Group B
Group C
Group D
The PCB head Mohsin Naqvi recommends the country to “await the tournament’s final result” as the team continues its league stage schedule.
ISLAMABAD: In response to the team’s recent underwhelming performances, Mohsin Naqvi, the chairman of the Pakistan Cricket Board (PCB), has softened his tough “major surgery” attitude and asked the country to support the players.
The PCB president stated that the country should “wait for the tournament’s final result” because the Green Shirts are still slated to play one match in the current T20 World Cup 2024 in an interview with Geo News on Wednesday outside the Parliament House.
The PCB head recommends the country to “await the tournament’s final result” as the team continues its league stage schedule.
ISLAMABAD: In response to the team’s recent underwhelming performances, Mohsin Naqvi, the chairman of the Pakistan Cricket Board (PCB), has softened his tough “major surgery” attitude and asked the country to support the players.
The PCB president stated that the country should “wait for the tournament’s final result” because the Green Shirts are still slated to play one match in the current T20 World Cup 2024 in an interview with Geo News on Wednesday outside the Parliament House.
In response to a query on the actions being considered in light of the team’s subpar performance, Naqvi stated, “The consultation is ongoing and it is not appropriate to discuss [the matter] further at this juncture.”
The squad is headed for an early tournament departure after losing two of its last three games. The results of other games will now determine Pakistan’s path to the Super 8 stage.
Reiterating that the team still requires assistance, Mohsin Naqvi insisted that “we have to move ahead” in the competition using the present squad.
According to the chairman of the board, everyone is hoping for the squad to advance.
Naqvi had voiced his unhappiness in the Pakistani squad following their defeat against India earlier this week.
He insisted that the squad needed a “major surgery” because of how poorly they performed.
The “loss against India was disappointing in every sense,” Naqvi continued.
“I know what is going on in the team and what are the reasons for losing,” the PCB chairman declared.
When the Netherlands plays Bangladesh in Kingstown, St. Vincent, the newest location for the T20 World Cup, they will be looking for their first big fish (Full Members side). There hasn’t been any competitive cricket played on this brand-new surface in a long. Bummed and bruised in New York, both sets of hitters will be hoping for a better outcome.
Bangladesh had a packed itinerary following their South Africa match in New York, with a five-hour delay on their chartered aircraft out. They canceled training on Tuesday after arriving early in the morning at their hotel in Kingstown.In addition to the anxiety of travel, Bangladesh is also experiencing sadness following a narrow loss to South Africa.
They lost the game because they were unable to stop Keshav Maharaj’s full tosses in the last over. Over the past eight years, Bangladesh has struggled to end T20I chases. On Monday, despite being known for their powerful strokes, Jaker Ali and Mahmudullah failed to find a boundary in the final three overs of their pursuit.Their hitting in the top order has also been concerning. Against South Africa, Captain Najmul Hossain Shanto began with Tanzid Hasan and omitted Soumya Sarkar; nonetheless, neither starting pair has yet to record a double-digit stand in this tournament. Litton Das had some success against Sri Lanka, but against South Africa, he threw it away easily. The bowling attack has been Bangladesh’s mainstay, with only Towhid Hridoy and Mahmudullah exhibiting batting form.
Their top order hitting has also been somewhat worrying. Captain Najmul Hossain Shanto started Tanzid Hasan and left out Soumya Sarkar against South Africa; nonetheless, neither opening combination has yet to register a double-digit stand in this tournament. Litton Das was somewhat successful against Sri Lanka, but he was thoroughly outclassed by South Africa. Bangladesh’s strength has been its bowling assault; their only two players who have shown batting form are Towhid Hridoy and Mahmudullah.
They have batting issues too, much like Bangladesh. The other hitters, especially Michael Levitt, who was their best player before the T20 World Cup, haven’t really taken off, and Max O’Dowd has made their lone half-century thus far.
The outcome of this tight match in Kingstown may depend on whose bowling attack performs better on the particular day.
As the assault leader, Taskin Ahmed has done an excellent job. Despite bowling at a mere 5.50 per over, he has claimed important wickets against Dasun Shanaka, Heinrich Klaasen, Aiden Markram, and Kusal Mendis in Bangladesh’s two matches. Though it’s early, Taskin has the potential to rank among the top bowlers in the competition if he can continue to shape the ball and keep up his general health.
Arguably the ball of the tournament has already been bowled by Logan van Beek. Van Beek burst into a joyous run when his delivery to Reeza Hendricks in New York pitched on middle and off, squared up the hitter, and flicked the off bail.
Taskin Ahmed has led the onslaught with great skill. In Bangladesh’s two matches, he has taken significant wickets against Dasun Shanaka, Heinrich Klaasen, Aiden Markram, and Kusal Mendis while bowling at a meager 5.50 per over. Even though it’s early, Taskin has the ability to be one of the competition’s best bowlers if he can maintain his overall health and shape the ball.
Logan van Beek has already bowled what is perhaps the ball of the competition. When Van Beek squared up the hitter and flicked the off bail after pitching on middle and off to Reeza Hendricks in New York, he broke into a joyful romp.
Bangladesh’s upper and lower middle orders remain unclear. If they want to make another change in their batting lineup, they have Mahedi Hasan and Soumya Sarkar as choices.
Tanzid Hasan, Najmul Hosain Shanto (capt), Litton Das (wk), Shakib Al Hasan, Towhid Hridoy, and 4 are the possible representatives of Bangladesh. Six Mahmudullah Jaker Ali, 7, Mustafizur Rahman, 8, Rishad Hossain, 9, Tanzim Hasan, 10, Taskin Ahmed, and 11.
Unless there are any last-minute injuries, Netherlands will probably stick with their starting lineup.
Michael Levitt, Max O’Dowd, Vikramjit Singh, Sybrand Engelbrecht, Bas de Leede, 6 Scott Edwards (capt & wk), 7 Teja Nidamanuru, 8 Logan van Beek, 9 Tim Pringle, 10 Paul van Meekeren, 11 Vivian Kingma are the possible candidates from the Netherlands.
Pitch and circumstances
After almost a decade, international cricket is back in Arnos Vale. Furthermore, the venue has never hosted a CPL game, thus it’s difficult to forecast the possible weather. A little bit of early morning rain is expected in the area.
Statistics and trivia
In September 2014, Bangladesh lost a Test match against the West Indies, which happened to be the final international match held at Arnos Vale. The only player from their T20 World Cup roster to have played in that match is Mahmudullah. They will also play a three-match T20I series against the West Indies later this year, as well as a match against Nepal here on June 17.
Bangladesh has a 4-3 overall record of winning over Netherlands in all formats; however, they lost their most recent encounter, which took place in Kolkata at the 2023 World Cup.
In their most recent match, Netherlands limited South Africa to 12 for 4, which was their best start with the ball against a Full Member side in T20Is history.
During this World Cup, Tanzim Hasan has taken three wickets at an average of 8.33 during the powerplay overs.
Sayings
“We discussed this ground. I believe Shakib bhai told me that this was the field where he made his leadership debut. Riyad bhai had a five-for in the test.”
Najmul Hossain Shanto, the captain of Bangladesh, on playing in St. Vincent. “Today is our first time being in the earth. It appears to be in excellent condition. It’s a fantastic wicket. I believe the island has been waiting a long time for the match that takes place tomorrow.”Logan van Beek, an all-arounder from the Netherlands, on the T20 World Cup visiting St. Vincent
The T20 World Cup 2024 Super 8 round will get off on June 19, and with four teams having already secured a berth in the following round, the competition for the top positions is becoming more fierce. South Africa and the West Indies will be in Group 2 of the Super 8 stage of the T20 World Cup 2024, while Australia and India will be in Group 1.
While some teams in the group stages are very certain to advance to the Super 8, others must rely on the success of other teams to go their way.
Teams with a strong probability of qualifying for the Super 8. Now, both collectively and within Group A: India has already advanced to the Super 8 round, and the US is only one win away from qualifying as the second nation—they just need to overcome Ireland, and given how well they played against Pakistan and India, this seems very plausible. In order to have a shot at the Super 8, Pakistan must first overcome Ireland and then hope that Ireland loses the USA following a major upset against the latter. If not, their World Cup campaign for T20 is finished.
Australia has advanced to the Group B, while Scotland is in the lead to be the other team after weather canceled their match against England. With five points, Scotland is in second place and cannot be matched by any other team. Following their dismal performance in the ODI World Cup 2023, England has suffered two consecutive big setbacks.
Since Afghanistan appears to be the next side to go to the Super 8 stage and the West Indies have already qualified, the issues with Group C also appear to be resolved. Even with one game remaining, teams like Papua New Guinea, Uganda, and New Zealand have little chance of matching Afghanistan’s four points.
Group D is once again exciting since South Africa has already qualified for the Super 8, and Bangladesh and the Netherlands are vying for that position. The winner of tonight’s match between the two sides will almost certainly advance to the next round of the T20 World Cup in 2024.
In a single day, 3.6 crore Indians came to see us, deciding that we were the indisputable platform for the country’s general election results.
Caribbean cricketers Sherfane Rutherford and Gudakesh Motie achieved the greatest 10th wicket partnership club in the history of the short overs super competition when the West Indies defeated New Zealand in the 26th match of the T20 World Cup.
The game was played at the Brian Lara Cricket Academy in Trinidad, and the Kiwis lost by a score of just 13 runs.
Rutherford, a middle-order batsman, and Motie, a slow-left arm spinner, combined for 37* runs, which helped their team reach 149 for nine wickets.
The partnership record of 34* set by the Netherlands’ Fred Klaassen and Paul van Meereken against Bangladesh in 2022 was surpassed by both cricket players.
As Motie played a single ball in the partnership and Rutherford scored 68 off 38 balls, Sherfane was able to score runs and progressively get Mitch Santher and Daryl Mitchell out. Motie was defending Trent Boult.
The West Indies made a remarkable turnaround, going from 30-5 to 149-9 in just 20 overs. After hitting six sixes and two fours in the opening innings, Rutherford was named Man of the Match.
The West Indies’ next game against Afghanistan is scheduled for Tuesday, June 18, at Gros Islet, St. Lucia’s Daren Sammy National Cricket Stadium.
Barry McCarthy and Josh Little of Ireland, who each scored 32* against Zimbabwe in 2022, are among the players who are a member of the highest 10th wicket partnership league.By defeating the 23* partnership record held by Max O’Dowd and Roelof van der Merwe of the Netherlands against Sri Lanka in 2022 and the 22* run partnership between Shariz Ahmad and Paul van Meekeren of the Netherlands against India in 2022 alone, they became members of the club.
LAHORE: On Thursday (today), the Punjab government will propose a budget of around Rs5.37 trillion, which includes an expected yearly development plan of Rs700 billion and a raise in salaries and minimum wages of 20 to 25 percent and Rs3,7000, respectively, in line with the announcements made by the federal government.
According to the National Finance Commission (NFC) award, Punjab is expected to get Rs3.7 trillion from the federal divisible pool, while the province is expected to generate over Rs1.025 trillion in income.
The government has decided to set aside Rs 840 billion for service delivery expenditures, Rs 445 billion for pensions, Rs 595 billion for wages, and Rs 700 billion for the development budget. There are two distinct allocations:
Rs. 8 billion for the Central Business District (CBD) and Rs. 30 billion for the Ramazan Package.Only 246 new projects will be introduced, out of the 1,863 total schemes that are outlined in the development budget plans. The other 1,617 initiatives are ongoing. Over Rs 22 billion is allocated to the roads sector, while Rs 2 billion is set up for special education. Three billion rupees for population welfare, two billion rupees for water supply and sanitation, three billion rupees for sports and youth affairs, seventy-six billion rupees for specialised health care, thirty-eight billion rupees for primary health care, three billion rupees for social welfare, fourteen billion rupees for local government and community development, ten billion rupees or more for the development of industries, and thirty-seven billion rupees for planning and development.
Furthermore, the province budget for the fiscal year 2024–2025 will not include any new taxes; instead, the emphasis will be on recovering the taxes that have already been imposed in order to raise funds. In order to boost revenue creation, the government will make sure that natural resources and government assets are used in the province.
The government has prioritised social security, health, and education, with public-private partnerships handling the execution of the large-scale projects. In order to boost provincial production, the government would keep providing subsidies to the food and transportation sectors while focusing especially on the industrial and agricultural sectors.
Equal investment possibilities would be provided to domestic and foreign investors. Additionally, the IT sector of the productive sectors for economic growth will get funding. The budget will address the issues facing the manufacturers and the complaints of the business community.
On Thursday, Finance Minister Muhammad Aurangzeb declared his intention to raise the tax-to-GDP ratio from the present level of more than 9 percent to 13 percent over the course of the next three years.
“Our basic principles while framing this budget were to expand the tax base,” Aurangzeb stated, speaking at a post-budget news briefing in Islamabad. It is just not sustainable to have a tax-to-GDP ratio of less than 10%.
“We need to raise it annually in order to reach 13 percent in the next three years,” he said, speculating as to whether any other nation in the world could survive with a tax-to-GDP ratio lower than 10 percent, as Pakistan was able to.
With a total expenditure of Rs18.9 trillion, Aurangzeb unveiled the federal budget for the next fiscal year (FY2024–25) on Wednesday. According to commentators, this budget is essentially “in line with IMF guidelines.”
The budget for Pakistan for the next year intends to raise taxes on the salaried classes and remove tax exemptions for the remainder, with a moderate 3.6% GDP growth forecast and an ambitious target of Rs13 trillion in revenue collection.
During the budget presentation, Aurangzeb stated that expanding the tax base was the intention in order to minimise the impact on current taxpayers.
Speaking at today’s news conference alongside Federal Board of Revenue (FBR) Chairman Malik Amjad Zubair Tiwana, State Minister of Finance Ali Pervaiz Malik, and other attendees, Aurangzeb stated that one of the objectives of the budget recommendations was to discourage the non-filing of taxes.
“I wish to do away with the idea of non-filers. He said, “I believe Pakistan is the only nation with non-filers,” and that non-filers will pay more in “tax in transaction.”
“We aim to end the undocumented economy and digitise finances,” stated the finance minister, emphasising the importance of digitization. Given that the enforcement and compliance were subpar, discussion of the FBR’s performance is also appropriate.
Human intervention tends to decrease with end-to-end digitization. There would be increased openness, less corruption, and better client service, he continued.
The finance minister answered questions from reporters on the projected federal budget during the briefing.
Regarding the rise in the petroleum levy, Aurangzeb made it clear that the changes will be implemented gradually over the course of the “first fiscal year,” rather than all at once. “We’ll put this into action while keeping an eye on fuel prices worldwide.”
“If you look on an individual level, the burden is not that heavy,” Aurangzeb said, acknowledging that “some changes” had been recommended about the tax slabs and that the salaried class shouldn’t be saddled with progressive income tax.
In response to a question on including traders and retailers in the tax system, the finance minister stated that 2022 was the appropriate year to take this measure and that “retailers are our brothers and sisters.” To lessen the load on them, we must include them in the [tax] system.
“We must make sure that this area enters the net; we have no other choice. July is when these taxes will go into force, according to Aurangzeb.
He said that in an effort to “try and document cash transactions as much as possible,” the government will revive the Point of Sale pricing programme. Cash transfers are associated with the undocumented economy and digitization. There is Rs9tr in cash on hand, he underlined.
The finance minister described Pakistan’s “biggest upside”—having the “third-largest freelancer population in the world”—when questioned about youth programmes and incentives. Funds would be allotted, he added, and improvements to digital infrastructure would result in “better Wi-Fi for people to work from home.”
Additionally, Aurangzeb emphasised the need for improved financing for small-to-medium-sized businesses (SMEs), saying, “The ministry of finance has already allocated [funds] to SMEs, they will be subsidised.” We’re willing to guarantee a first-loss because banks aren’t showing much interest.
Regarding the significant increase in funding for the Public Sector Development Programme (PSDP), he stated that the government “was trying to make sure that projects already in the works be completed,” pointing out that 81 percent of the cash had been granted for projects that were almost finished.
Questioned about leakages from the tax base, Aurangzeb highlighted that the track and trace system had been rolled out and would be expanded from cigarettes to cement and other sectors. “Sales tax has a big leakage as well. We need to plug all of these through digitisation,” he asserted.
Asked if the target of bringing down inflation to 12pc was realistic, Aurangzeb said, “We should have shut down ministries and sectors that were not contributing. This is how we’ll cut expenditures. There is still work to be done, the prime minister will make decisions around ministries and devolved subjects.”
The finance minister declared, “The more things we exclude the government from, the more fiscal space we will get.”
The team member who was present for the briefing, Finance Secretary Imdadullah Bosal, concurred that the policy rate at the moment was still “considerably high.”
“We understand the impact of inflation on the common man, but we need to remember that we have made steps in the right direction,” stated the state minister in reference to inflation.
Malik stated, “If you hand things out, your deficit rises, in which case you print more money, or take a loan and put the burden on future generations — we have done both of these things,” using Argentina as an example of a country with a significant debt load to the IMF.
He claimed that punitive measures were now in place and that “give us time to enforce and impose direct taxation.”
Malik acknowledged that the electricity sector received the largest investment and said, “There will be governance issues but it will protect the most vulnerable.”
In response to a query on farmers’ worries, particularly in light of the current wheat crisis, the head of FBR stated that duties on fertiliser DAP had not changed in response to tractor firms’ request to discourage imports.
For global and Pakistani perspectives on tech, business, and finance, follow Dawn Business on Facebook, Instagram, LinkedIn, and Twitter.
Shehbaz commends the JUI-F head for his continued efforts to encourage a nonviolent fight for the defence of democratic principles.
ISLAMABAD: Prime Minister Shehbaz Sharif paid a visit to Maulana Fazlur Rehman, the head of Jamiat Ulema-e-Islam-Fazl (JUI-F) on Thursday. During the meeting, he suggested the creation of a committee with the goal of promoting collaboration across parties in order to jointly address and resolve a range of political issues.
The leader of JUI-F greeted the premier with warmth, according to a statement released by the Prime Minister’s Office (PMO).
Fazi and PM Shehbaz exchanging handshakes IMAGE: PTV via Facebook
The prime minister congratulated Maulana Fazlur Rehman on his continued efforts to encourage a nonviolent battle for the defence of democratic ideals and asked how he was doing during the visit. He also expressed gratitude to the senior statesman for his noteworthy contributions to religion.
The visit takes place in the midst of continuing discussions concerning national political issues. The PTI, the opposition party, has previously stated that it is open to have this conversation.
On May 19, JUI-F president Maulana Fazlur Rehman said that he had asked the PTI for assurances before to joining the latter’s opposition coalition, Tehreek Tahafuz Aain-e-Pakistan (TTAP).
During a joint news conference with PTI leaders after their May 19 night meeting in Islamabad, the head of JUI-F recognised the continued efforts to convince his party to join the opposition coalition, but stated that his party had not made up its mind to do so.
Fazl said in the yes when a journalist questioned him about whether the JUI-F had asked the PTI for any promises before launching an anti-government campaign.
“Yes, when serious negotiations are held, certain measures are necessary to build trust.”
The head of JUI-F went on to inquire with whom they should have negotiations.
“Who will lead the negotiations—the president, the army chief, or the prime minister?”
Unexpectedly, Elon Musk requested that a California court drop his lawsuit against OpenAI and its CEO, Sam Altman, on the grounds that they had abandoned the company’s original goal of creating artificial intelligence (AI) for the good of humanity.
The multibillionaire’s attorneys filed a filing requesting the months-old case to be withdrawn, but they did not provide an explanation for the action.
It happened just one day before the ChatGPT developer’s request to have the lawsuit dismissed was scheduled to be heard by the court.
For comment, BBC News has reached out to OpenAI and Mr. Musk’s attorney.
The most recent filing requested the case be dismissed “without prejudice,” which means that Mr. Musk may decide to reopen it at a later date.The Tesla CEO sued OpenAI at the end of February of this year, claiming the business he assisted in founding in 2015 had strayed from its charitable objectives in favour of profit-making.
In response, OpenAI pointed out that Mr. Musk had already supported the notion of a for-profit organisation and had even proposed a combination with his electric vehicle company, Tesla.
After Apple announced a collaboration with OpenAI to enhance its Siri voice assistant and operating systems with OpenAI’s ChatGPT chatbot, the rivalry grew more intense earlier this week.
Following the announcement, Mr. Musk criticised the partnership in many posts on his social media network X, which was formerly known as Twitter.
The words “Apple has no idea what’s actually going on once they hand your data over to OpenAI” concluded one of the articles. You are being duped by them.”
Apple’s stock market value reached a record high above $3 trillion, indicating that investors appeared to be pleased with the news.
In July 2023, Elon Musk founded xAI, a startup dedicated to artificial intelligence, with the stated goal of “understanding reality”.
In an attempt to compete with ChatGPT and other similar chatbots, xAI introduced Grok, a chatbot with “a little humour”, in November of that year.
By Abid Ali
Getting Around in the Digital Age: A Journey through the Media Landscape
It’s critical to comprehend the terrain in the vast ocean of digital media, where each click creates ripples throughout the virtual world. Join us as we take you on a voyage through the currents and eddies that form this ever-changing environment.
Setting Sail:
We start our journey by investigating the beginnings of the digital world, following its development from the earliest days of the internet to the current era dominated by social media.
Setting the Course:
The same way an experienced navigator charts a course before setting out, we also need to be aware of the major players in the field of digital media. Every entity, from citizen journalists and influencers to traditional news outlets, makes an impact on the constantly changing landscape of online discourse.
Getting Amid the Information Waves:
In this day and age of copious amounts of information, telling fact from fiction can sometimes be likened to a rough sea. We provide you with all the resources—from fact-checking tools to critical thinking frameworks—you need to successfully negotiate these dangerous waters.
Misinformation Shoals:
Watch out for the unseen threats that lurk beneath the internet’s surface. False information and misinformation whirl like undiscovered reefs, ready to capsize the unsuspecting tourist. Acquire the ability to identify false information and avoid falling for its seductive charms.
The Emergence of Digital Tribes:
As we travel further, we come across groups of people united by common identities, passions, or worldviews. These communities are known as digital tribes. Examine how these tribes have affected the media landscape, including how viral content has spread and how echo chambers have formed.
Overcoming Language Barriers:
In the increasingly interconnected world of digital media, language serves as both a conduit and an obstacle. We investigate the ways in which language influences the transmission and reception of information, delving into the difficulties associated with translation and interpretation in a globalized society.
Discovering New Horizons:
As we venture farther into unexplored territory, we come across cutting-edge trends and innovations that have the potential to completely transform the digital landscape. These technological advancements, which range from virtual reality to artificial intelligence, have both danger and promise for the media landscape.
The Ethical Compass:
Despite all the upheaval, ethics is one constant that never changes. We explore the moral issues surrounding the creation and use of digital media, ranging from privacy concerns to diversity and representational issues.
Anchoring in the Algorithmic Age:
Our digital experiences are becoming more curated and personalized in the era of algorithms. But great customization also entails great accountability. We examine how algorithmic bias affects things and how transparency keeps the media ecosystem open and free.
Setting a Course for the Future:
As our journey comes to an end, we consider the lessons we’ve learned and set a course for the future. Equipped with an enhanced comprehension of the digital media terrain, we are prepared to confront the obstacles and possibilities that confront us, paving the way for a society that is better informed and empowered.
Overview:
Overview of “Navigating the Digital Seas: A Voyage through the Media Landscape
Overview of the Digital Environment
This chapter’s opening section introduces readers to the ever-changing world of digital media. It describes the development of digital platforms from the beginning of the internet to the current day, when social media networks rule the roost. Through following this evolution, readers acquire a fundamental comprehension of the technological breakthroughs that have molded the digital terrain.
Recognizing the Main Players and Dynamics
The next section of the chapter goes over the wide range of players that make up the ecosystem of digital media. The key players that impact the distribution and consumption of information are emphasized as being traditional news organizations, citizen journalists, influencers, and social media platforms. Readers are armed with a nuanced understanding of the complex nature of digital media by knowing the roles and interactions of these players.
Handling Overwhelming Information
This chapter’s main focus is on navigating the information overload that comes with living in the digital age. Methods for identifying reliable sources in the deluge of information are covered, with a focus on the significance of critical thinking and fact-checking. Through the provision of useful techniques for assessing information, readers are equipped to successfully negotiate the choppy seas of false and misleading information.
Examining the Digital Tribe Phenomenon
In-depth discussion is given to the rise of digital tribes, which are groups of people connected by common identities or interests. Readers acquire knowledge about how these tribes influence online conversation, including how echo chambers and viral content spread. Readers can better appreciate the intricacies of the digital media landscape by learning about the dynamics of digital tribes.
Language as a Bridge and a Barrier
Examined is language’s dual function in the globalized digital landscape as a barrier and a bridge. The difficulties of interpretation and translation are examined, as well as how they affect communication between people from different cultural backgrounds. Readers develop a greater understanding of the intricacies of international media by delving into the subtleties of language in the digital realm.
Ethics in Digital Media
The production and consumption of digital media are examined from an ethical perspective. Issues like diversity, representation, and privacy are discussed, emphasizing the moral obligations of both media users and practitioners. By delving into these moral conundrums, readers are prompted to consider their own media habits and principles.
Getting Used to Algorithmic Situations
The final section of the chapter discusses how algorithms are used to shape digital experiences in every aspect. Readers learn about the ethical ramifications of algorithmic bias as well as the personalized aspect of digital content delivery. Through grappling with these algorithmic realities, readers are prompted to advocate for accountability and transparency in the context of digital media.
In summary
To sum up, this chapter provides readers with a broad overview of the intricacies and subtleties of the digital media environment by providing a thorough investigation of it. Through an exploration of fundamental ideas like information assessment, digital tribes, language dynamics, ethics, and algorithms, readers gain the understanding and skills required to confidently and wisely negotiate the constantly changing landscape of digital media.
Introduction: Navigating the Digital Seas: A Voyage through the Media Landscape
Starting the Digital Adventure
Within the vastness of the digital world, where ideas travel across oceans of connectivity and bytes of information flow like currents, comprehending the media landscape is like setting out on a journey. The digital denizens of today must navigate the constantly changing online information and communication landscape, just as ancient mariners navigated uncharted waters.
The Evolution of Digital Media
We start our journey by thinking back on the development of digital media, from the early days of the internet to the current social media-heavy period. Every stop along the way signifies a technological innovation advance that changes the way we produce, consume, and engage with media content.
Setting the Course: Principal Actors and Mechanisms
It is clear as we venture into this digital ocean that navigating its waters requires an understanding of the major players and dynamics of the media landscape. Every entity that contributes to the rich tapestry of digital discourse, from traditional news outlets to citizen journalists, influencers, and social media platforms, is acknowledged.
Handling Overwhelming Information
In this era of abundant information, sorting through the sea of data can be intimidating. In the middle of a sea of false information and misinformation, this section gives readers the tools and techniques they need to cut through the clutter and identify reliable sources. Through the practice of critical thinking and fact-checking, readers can confidently navigate the turbulent waters of the digital information ecosystem.
Examining Digital Tribes: Online Communities
The rise of digital tribes and communities united by common identities, interests, or beliefs is one of the most intriguing phenomena of the digital age. These groups influence online conversation in a big way, encouraging both polarization and cooperation. Readers can learn about the nuances of creating online communities and echo chambers by comprehending the dynamics of digital tribes.
Language Changes in the International Digital Age
In the increasingly globalized digital landscape, language functions as a bridge as well as a barrier. The difficulties of translation and interpretation in a globalized society are discussed in this section, along with how language affects the transmission and reception of information across linguistic and cultural barriers. Readers develop a greater understanding of the challenges of cross-cultural communication in the digital age by wrestling with these language dynamics.
Ethical Factors in the Creation and Use of Digital Media
The moral compass that steers us through the digital seas is ethics. This section explores the moral questions raised by the creation and use of digital media, covering topics like diversity, privacy, and representation. Readers are encouraged to consider the wider societal ramifications of digital media consumption as well as their own media practices by grappling with these moral conundrums.
Getting Used to Algorithmic Situations
Personalized content delivery is shaping our digital experiences more and more in the era of algorithms. The consequences of algorithmic bias are examined in this section, along with the difficulties in upholding accountability and transparency in algorithmic decision-making processes. Readers are equipped to promote moral algorithmic design and governance by grasping the algorithmic realities of the digital environment.
In conclusion, laying out a future plan
As our excursion through the world of digital media comes to an end, we consider the knowledge gained and plot our next steps. Readers are better prepared to handle the opportunities and challenges that lie ahead when they have a deeper understanding of the subtleties and complexity of digital media. We can confidently, wisely, and honorably navigate the digital waters if we embrace media literacy and critical thinking.
The Pakistani cricket team defeated Canada by seven wickets in their opening match of the T20 World Cup 2024 on June 11 at the Nassau County International Cricket Stadium in New York. Although it was an easy target for the Pakistani batsmen, Canada set a target of 107, which they knocked down in 17.3 overs with three wickets lost. In order to increase their chances of making it to the Super-8s.
Pakistan needed to increase their net run rate in this game.Despite the fact that the pitch conditions are unsuitable for them, previous cricketers, including as former captain Shoaib Malik, have chastised the batsmen for their incapacity to compete against Canada’s spinners. Following the game, Malik commented on a local sports channel, “
Today when [Canada’s] spinners were bowling, especially Saad Bin Zafar and Junaid Siddiqui, they [Pakistani batters] were running singles on the front-foot and on back-foot.” “The players mhav told us that the conditions have been tough, but they weren’t tough [in the Canada match], especially when facing spinners. The circumstances were good for the two tall pacers that they [Canada] have, but not so well for the spinners, Kaleem Sana, Zafar, and Junaid. Pakistan ought to have taken measures to be eligible super 8.
Malik also attacked the squad for not finishing the game sooner and raising their net run rate, which will aid them in making it to the Super-8s, and for Babar Azam, the captain of Pakistan, not taking any chances. Babar made just two tries, in my opinion, to get beyond the wicket and hit a six and again. Rizwan, on the other hand, scored fifty, which was admirable and well-played, but the team needed more from them.
“If they had the chance to finish it early [due to the conditions not suiting the Canadian spinners] then why did they take the game till the end when they had an opportunity to finish it up early and better their net run rate to qualify for the Super-8s.”
The former captain also advised the team to play for team goals rather than playing for something else, “The situation in the team is even evident to the people watching on TV. The point I am trying toestablish is that play for the country.”
Pakistan cricket team has had a poor run oin the T20 World Cup 2024 as they lost both of their first matches against the USA and then the arch-rivals India. Both of the games were easy to win for Pakistan but a blunder here and there turned the results against them.
Pakistan’s remaining match in the T20 World Cup 2024 groupstage is scheduled for June 16 in Florida against Ireland
In order to support the IMF agreement, the government sets a lofty tax collection target of Rs. 13 trillion and strives for 3.6% GDP growth.
The government’s economic output was nonetheless “impressive”: According to Aurangzeb, FinMin. FBR collection target is set at Rs12,970 billion.
The budget suggests raising the minimum salary to Rs 36,000.
In his first budget 2024–25 speech on the National Assembly floor, Finance Minister Muhammad Aurangzeb only confirmed that the relief that the millions of people affected by inflation, whose incomes have fallen to rock bottom in recent years, sorely need is outweighed by a long-term loan agreement with the International Monetary Fund (IMF) to save Pakistan’s economy.
Seeking to maintain economic stability, avoid losing favour, and endure sticky deflation, the coalition government led by the Pakistan Muslim League-Nawaz (PML-N) appears to be grovelling before the IMF to initiate the next bailout.
The opposition members chanted, “go Nawaz go” during the session.
“Despite the financial and political challenges during the past one year, the government’s progress on the economic front has been impressive,” the finance minister said.
“All political parties have expressed a desire to work together for the good of the nation on multiple occasions. He stated, “We can’t afford to waste this opportunity as nature has given Pakistan another chance to walk on the path of economic progress. We need all MNAs to work with the government to put the country on the path to progress.”
A while back, the State Bank’s reserves were insufficient to cover imports for longer than two weeks, which put Pakistan’s economy in a precarious position. The rupee’s value fell by 40%, there was hardly any economic growth, and inflation had risen to the point that people were rapidly falling below the poverty line. Leaving this circumstance seemed to be hard” told the minister.
GDP
According to the finance minister, inflation is predicted to drop to 12% and the GDP growth rate would continue at 3.6% in the upcoming fiscal year.
According to him, the primary surplus should continue to be at 1% of GDP, whereas the budget deficit is 6.9% of GDP.
The Federal Board of Revenue (FBR) projects that taxes will be collected of Rs12,970 billion, 38% more than in the current fiscal year.
As a result, the province will receive Rs7,438 billion in federal tax revenue.
The finance minister stated that the federal government has set a non-revenue objective of Rs3,587 billion, while the Center’s net income is Rs9,119 billion. The minister further stated that the entire expected federal expenditures are Rs18,877 billion, of which Rs9775 billion will be spent on payments of interest.
“PM Shehbaz-led coalition government deserves felicitations for untiring efforts for the revival of the economy,” he added.
Aurangzeb further stated that inflation, which was the centre of attention of Prime Minister Shehbaz Sharif and his team, came down to almost 12% in May leading to a decrease in the prices of essential commodities.
“It is not an ordinary achievement in the light of existing challenges,” he said, predicting further drop in inflation. The minister further stated that the foreign exchange reserves have also been stable.
He said that the recent cut in the interest rate by the SBP was proof of the government’s efforts to bring down inflation.
5.9% of GDP is the fiscal deficit under the tax-heavy budget.
Growth in the economy and inflation targets of 3.6% and 12%
Islamabad wants to obtain between $6 and $8 billion. IMF assistance
Experts warn that taxes may cause inflation.
Reuters, June 12, ISLAMABAD – In its national budget on Wednesday, Pakistan sought to bolster its case for a fresh bailout agreement with the International Monetary Fund (IMF) by announcing a tough tax revenue target of 13 trillion rupees ($46.66 billion) for the year beginning July 1, a nearly 40% increase from the current year.
Analyst expectations were met by the audacious revenue objectives Finance Minister Muhammad Aurangzeb outlined in parliament for the fiscal year ending in June 2025. 18.87 trillion rupees ($68 billion) were spent in total.
Key objectives for the upcoming fiscal year include bringing the public debt-to-GDP ratio to sustainable levels and prioritising improvements in Pakistan’s balance of payments position, the government’s budget document showed.
Pakistan has projected a sharp drop in its fiscal deficit for the new financial year to 5.9% of GDP, from an upwardly revised estimate of 7.4% for the current year.
Pakistan will look to widen the tax base to avoid burdening existing taxpayers to meet its targets, Aurangzeb said.
According to Vaqar Ahmed of the Sustainable Development Policy Institute think tank, “the budget has a significant increase in tax burden this year,” and he added that the current sectors will bear the brunt of this increase due to the sizeable informal economy.
“IMPLATIONARY AFFECT”
“The tax burden will have an inflationary impact as well,” Ahmed stated.
The central bank issued a warning on Monday about potential inflationary impacts of the budget, stating that increasing taxes would be the only way to raise more money due to the lack of progress in structural reforms aimed at expanding the tax base.Mobile phones and products made of leather and textiles will now be subject to an 18% sales tax, according to Aurangzeb. In addition, he declared an increase in the real estate capital gains tax.
Given the government’s declared aim of pushing aggressively to sell loss-making firms, starting with the national airline, analysts were keeping a close eye on the budget for proceeds from privatisation.
However, just 30 billion rupees were expected to be made from the privatisation revenues. Aurangzeb stated that the airline would receive offers in August.
Concerns remain about the government’s ability to pursue reform since it is vulnerable to the quirks of coalition politics in the face of rising public pressure against inflationary reform measures.
The government of Prime Minister Shehbaz Sharif had to convince its largest ally, the Pakistan Peoples Party (PPP), without whom it does not have a parliamentary majority, to attend the budget session, according to local broadcaster Geo News.
Bilawal Bhutto’s PPP said it was not happy with some of the measures taken in the budget, the report said.
Sharif’s government is also faced with the continued popularity of its main opponent, jailed former prime minister Imran Khan, whose party lawmakers protested vociferously as the budget was being presented.
Some of them carried banners calling for the release of Khan, who remains in jail on charges ranging from graft to marrying his wife illegally.
Due to Pakistan’s ongoing economic hardship, “the Chinese have become wary of putting in more money since they know it is a financial black hole,” according to Jeremy Garlick, an associate professor of international relations at Prague University of Economics and Business, who was quoted in a story.
Pakistan Prime Minister Shehbaz Sharif had to return from China empty-handed following a five-day official visit last weekend, despite his hopes of bagging more lucrative energy and infrastructure projects as his country struggles with an economic crisis, according to a report.
Sharif met with President Xi Jinping and other high-ranking officials, but not much real progress was achieved. This seeming change raises questions about China’s intentions towards Pakistan and the future of the highly anticipated $50 billion China-Pakistan Economic Corridor (CPEC), which is a crucial part of Beijing’s massive Belt and Road Initiative.
As a result of Pakistan’s ongoing economic hardship, “the Chinese have become wary of putting in more money since they know it is a financial black hole,” Nikkei Asia quoted Jeremy Garlick, an associate professor of international relations at Prague University of Economics and Business.
Since CPEC is meant to be a crucial component of the BRI, “China needs to maintain the facade that CPEC is working,” Garlick continued.
Nikkei Asia reports that Islamabad formally requested last month an additional $17 billion in Chinese financing for energy and infrastructure projects. Following an important meeting of the committee tasked with deciding on future investments in the China-Pakistan Economic Corridor (CPEC), this proposal was made.
Before his arrival, Pakistani authorities had stated that Beijing will publicly unveil an improved version of the multibillion-dollar deal. This was Sharif’s first trip to China since taking office in March.
The Chinese response, however, was not quite rapturous. A joint statement with 32 points that was released over the weekend revealed that Pakistan had received very little in the way of concrete advantages, with the report adding only a vague mention of an improved economic cooperation pact.
Stella Hong Zhang is a China public policy postdoctoral scholar at the Ash Centre at the Harvard Kennedy School. Nikkei Asia reported Zhang as saying, “Earlier CPEC investments in the power sector were rushed by political needs, and might not have been optimal.”
Low on funds Recently, Pakistan took a big step towards restructuring the roughly $15 billion in debt it owes Chinese energy companies operating power plants inside its borders. Islamabad is negotiating a $6 billion to $8 billion bailout with the International Monetary Fund when this request was made.
The intricacy is increased by worries about security. After a string of deadly Islamist strikes that alarmed Beijing and cast doubt on upcoming investments, Pakistan pledged to protect Chinese personnel and enterprises.
However, despite these difficulties, a few small successes were made. China committed to gradually advancing the $6.7 billion Main Line 1 (ML-1) Railway project. China is only funding the first of three stages of this project, which would improve Pakistan’s railway network between Peshawar and Karachi in the north and south.
Additionally, a deal was reached to modernise a portion of the Karakoram Highway, which connects China and Pakistan via arid mountainous terrain that is sometimes impassable in the winter owing to heavy snowfall.
Ankara honours the deceased of the APS Peshawar terrorist assault.
ANKARA – In honour of the students and faculty who lost their lives in the horrific terrorist attack on Army Public School (APS) Peshawar in 2014, Keçiören Municipality Mayor Mesut Ozarslan accompanied the chairman of the Joint Chiefs of Staff Committee, General Sahir Shamshad Mirza, NI (M), and ambassador Dr. Yousaf Junaid to the APS Martyrs Memorial in Ankara.
Ambassador Junaid remarked that Pakistan endured the worst horror as a result of the heinous and horrific terrorist assault on APS Peshawar, while also expressing sincere thanks to his Turkish countrymen for their support and for helping to preserve the memory of the innocent souls lost to terrorism.
The envoy made reference to the circumstances in Illegally Indian Occupied Jammu and Kashmir (IIOJK) and said that terrorism cannot be fully defined without accounting for the ongoing atrocities there. He expressed his gratitude to Turkiye’s leadership and people for their unwavering support of the Kashmiri people’s intrinsic right to self-determination and for their principled position on the region.
Mayor Keçiören, Mesut Ozarslan, reaffirmed Turkiye’s strong sympathy with Pakistan, denouncing the terrorist assault and stating that nothing can excuse such a senseless and vicious deed. He declared that Turkiye’s people will support their Pakistani counterparts in every endeavour, especially in the war against terrorism.
Later, a wreath was placed at the memorial for the APS martyrs by General Sahir Shamshad Mirza, the Chairman of the Joint Chiefs of Staff Committee (CJCSC), Mayor Kecioren Mesut Ozarslan, Ambassador Junaid, and other dignitaries.
General Metin Gurak, the Chief of Turkish General Staff, has invited CJCSC General Sahir Shamshad Mirza to visit Turkiye. Turkish Minister of National Defence Yasar Guler greeted the CJCSC during his tour, and talks were held at General Staff Headquarters.
NEW DELHI: BJP Amit Shah, Rajnath Singh, Nirmala Sitharaman, and S. Jaishankar were all kept in control of the four main ministries in Prime Minister Narendra Modi’s new government : Home, Defence, Finance, and External Affairs.
The prime minister chairs the vital Cabinet Committee on Security, which is composed of the four ministries overseeing these responsibilities.
Former chief minister of Madhya Pradesh Shivraj Singh Chouhan has been appointed to the Ministries of Agriculture and Rural Development, while J.P. Nadda, the President of the BJP, has returned to the Health Ministry, a position he held during the first term of the Modi administration before taking over the ruling BJP as working president in 2019 and then as president in 2020.
Nitin Gadkari, who is credited with expanding the nation’s highway system, is still in head of the Road Transport and Highways Ministry.
There are currently no Muslim ministers.
Manohar Lal Khattar, the former chief minister of Haryana, has been given the ministries of power and housing and urban affairs.
Not only has Ashwini Vaishnaw, a rising star in the administration, kept her positions overseeing the vital ministries of Railways, Electronics, and Information Technology, she also received the critical Ministry of Information and Broadcasting.
The Ministries of Education, Commerce, and Industry will remain under the leadership of Dharmendra Pradhan and Piyush Goyal, respectively.
The Ministry of Natural Gas and Petroleum has been kept by Hardeep Singh Puri, whereas the Ministry of Housing and Urban Affairs has been removed.
According to an official statement, President Droupadi Murmu followed Mr. Modi’s advice while assigning ministries to 72 members of the Union Council of Ministers, including the prime minister.
Arjun Ram Meghwal will stay in his position as Law Minister, and Sarbananda Sonowal will continue to lead the Shipping portfolio. Kiren Rijiju has been transferred from the Earth Sciences Ministry to the Parliamentary Affairs Ministry. The Environment Ministry is still under Bhupender Yadav’s control.
Among the five allies, Lalan Singh (Janata Dal-United) has the ministries of Panchayati Raj, Fisheries, Animal Husbandry, and Dairying; former Karnataka chief minister H.D. Kumaraswamy has the ministries of Heavy Industries, and Steel; and Jitan Ram Manjhi (HAM-Secular) has the ministries of Micro, Small, and Medium Enterprises.
The Ministry of Civil Aviation has been assigned to K. Rammohan Naidu of the TDP, while the Ministry of Food Processing Industries has been assigned to Chirag Paswan of the LJP (Ram Vilas).
Additionally, Amit Shah is still in charge of the Cooperation Ministry, while Sitharaman will still be in charge of Corporate Affairs.
The Ministry of Social Justice and Empowerment has been kept by Virendra Kumar, while the new Minister of Tribal Affairs is Jual Oram. The cabinet consists of two women and one Muslim.
Agencies add: On Monday night, after Mr. Modi was sworn in for an unprecedented third term, his cabinet met for the first time and ministerial positions were assigned.During his ten years as prime minister, Mr. Modi has aggressively cultivated an image as a defender of the nation’s dominant Hindu faith, alarming minorities, notably the nation’s Muslim minority, which numbers over 200 million.
Prince Harry and Meghan Markle’s relationship could not last, according to a royal expert.
Meghan Markle issued a warning that her supremacy in Prince Harry’s marriage will not endure.
A royal specialist has scrutinised Prince Harry and Meghan Markle’s relationship in light of reports that they are having marital problems.
Tom Quinn, a royal specialist, claims that Harry has always been “a lost little boy” who looks for a powerful spouse to make up for his perceived shortcomings.
The specialist informed the Duke of Sussex, nevertheless, that Meghan’s control in their relationship won’t endure for very long.
“No one has ever doubted that Harry and Meghan do not have an equal partnership when Harry famously said, ‘what Meghan wants Meghan gets,'”he said to the mirror.
“Harry has always come across as a lost little boy, overprotected by the Royal Family as a child and then suffering the death of his mother he has always seemed unsure and indecisive, always searching for a strong partner who makes up for his own weakness.”
“For now, Harry loves the fact that Meghan gives him some of the backbone he always lacked,” he continued, describing Meghan as “very much that partner” for Harry.
However, her control in the relationship might not always be appreciated because early in a relationship, things that enchant and pleasure us don’t always last.
ISLAMABAD Ishaq Dar, the deputy prime minister of Pakistan, demanded a “immediate and unconditional ceasefire” in Gaza on Tuesday. Since October, Israeli troops have murdered over 37,000 Palestinians in the enclave, turning it into a wasteland.
Dar is in Jordan for the meeting titled “Call for Action: Urgent Humanitarian Response for Gaza,” which is being co-hosted by UN Secretary-General Antonio Guterres, Egyptian President Abdel Fattah El-Sisi, and Jordanian King Abdullah II.
Dar met Guterres outside the conference and praised his initiative and leadership in bringing up the Gaza war’s issues on a global scale.
“The Deputy Prime Minister called for an immediate and unconditional ceasefire, unhindered humanitarian assistance to the besieged people of Gaza, return of the displaced Palestinians, and ensuring accountability for the war crimes and crimes against humanity being committed by Israel,” the foreign office said in a statement. “He reiterated Pakistan’s strong and unequivocal condemnation of the indiscriminate and brutal use of force by Israel against the Palestinians.”
On Monday, the UN Security Council supported US President Joe Biden’s proposal for a cease-fire between Israel and Hamas in the Gaza Strip and encouraged the Palestinian organisation to agree to the agreement, which aims to put an end to the eight-month-long conflict.
In a statement, Hamas hailed the passing of the US-drafted resolution and declared its readiness to work with mediators to put the plan’s tenets into practice “that are consistent with the demands of our people and resistance.”
Russia did not participate in the UN voting, and the 14 Security Council members who remained cast their votes in favour of the resolution endorsing the three-phase ceasefire plan that Biden, referring to it as an Israeli effort, had presented on May 31.
The latest ceasefire plan is welcomed, Israel has acknowledged it, Hamas is urged to accept it, and the resolution “urges both parties to fully implement its terms without delay and without condition.”
On June 7, 2024, in Karachi, a merchant prepares sacrificed animals for Eid ul Adha by feeding them at a cow market.
ISLAMABAD As the country prepares for the Muslim holiday, the federal government has authorised a three-day vacation from June 17 to June 19 in honour of Eid ul Adha, sources told Geo News Tuesday.
According to the sources, the Cabinet Division’s summary has received Prime Minister Shehbaz Sharif’s approval.
The news comes as Pakistan prepares to celebrate Eid ul Adha on June 17 following last week’s sighting of the Zil Hajj moon on June 7.
The celebration commemorates the Hajj pilgrimage and takes place on the tenth day of Zil Hajj.
Cattle markets have been established in several locations so that people can buy cows, goats, lambs, and camels for sacrifice as Eid ul Adha approaches.
In the meantime, Pakistan Railways has announced a special Eid ul Adha package that includes a 25% fee concession for passengers.
Except for special trains for Eid, the discount will be applied to all classes and types of trains.
RAWALPINDI: Imran Khan, the founder of Pakistan Tehreek-e-Insaf (PTI), demanded on Monday that Mohsin Naqvi, the chairman of the PCB, “undergo surgery” for his failure to hold free and fair elections.
He was reacting to statements made by Naqvi the day before, in which he hinted that the national side will undergo major changes after losing to India by six runs in the T20 World Cup 2024.
It’s now time for a “major surgery,” said the PCB chief. “A substantial overhaul is evidently required following this terrible result; at first, I thought a small operation would be sufficient. There will be significant changes in the country shortly, according to Naqvi.
Today, during a casual discussion with reporters in the courtroom of Adiala Jail, Khan attacked the administration and brought up persistent security concerns. “Our soldiers are being martyred, and robberies are occurring in Islamabad, yet they do not care,” Khan said.
“Mohsin Naqvi is the biggest beneficiary of favouritism,” he said.
Khan blasted the Chief poll Commissioner for allegedly supervising fraudulent operations and said that attempts are being made to silence him and conceal poll tampering. In addition, he denounced the activities taken against PTI members throughout Punjab, pointing out that events were interrupted and that party members were arrested at all conventions.
Khan outlined personal issues, brought up the raid on PTI leader Shibli Faraz’s home, and encouraged his party to get ready for rallies throughout the country.
The former prime minister declared that he will take legal action against the jail superintendent, IG prisons, and an internal colonel for imposing a 30-minute visitation limit on his contacts with family, solicitors, and political figures, with a maximum of six visitors permitted each visit.
In addition, the ex-prime minister bemoaned not having the same access to home-cooked meals and regular visits that Nawaz Sharif and Asif Zardari enjoyed while incarcerated.
The PTI supremo said that PML-N and PTI MNAs ought to visit the jail in response to a question concerning PML-N MNA Barrister Aqeel Malik’s appearance in the courtroom.
The media was then asked to vacate the courtroom by jail personnel when a journalist questioned Khan about the applicability of the Hamoodur Rahman Commission findings. Khan conferred with his attorney, Intazar Hussain Panjutha, in response to the query.The former prime minister claims there are attempts to suppress him and hide electoral manipulation.
Pre-budget document outlining the nation’s socio economic benchmarks for the last fiscal year is presented by the finance czar.
ISLAMABAD: The Economic Survey of Pakistan 2023–24 has been released. It is a pre-budget document that lists the nation’s principal socioeconomic accomplishments from the previous fiscal year. The study was presented by Muhammad Aurangzeb, Minister of Finance.
Aurangzeb emphasised that the currency fell by 29% and Pakistan’s GDP shrank in the fiscal year 2022–2023. As the lender of last resort, he emphasised the need of joining the IMF programme. “We must go with IMF as there is no plan B,” he stated.
The administration is putting more of an emphasis on high-potential industries including IT, SMEs, mining and minerals, travel, exports, and agriculture. Aurangzeb pointed out that things would have been quite different in the absence of the IMF. Emphasising the need of securing the next IMF credit programme, he acknowledged the difficulties faced by the large-scale manufacturing (LSM) sector as a result of rising energy prices and inflation.
Aurangzeb emphasised agriculture’s success, pointing said that a record harvest greatly boosted GDP growth. He made note of the ongoing difficulties that have plagued the past several years from FY 2022.
During the fiscal year, revenue collection increased by an unprecedented 30%, a development that Aurangzeb credited to the provinces for providing surpluses that made the IMF’s nine-month standby agreement possible.
He pointed out that the economy entered a stabilisation period in FY 2024, with the federation benefiting from provincial development and an almost 30% increase in Federal Board of Revenue (FBR) revenue.
By the time the fiscal year ends on June 30, projections indicate that the current account deficit (CAD), which was predicted to be over $6 billion in FY24, may be as low as $200 million. Remittances from employees, estimated at $3.2 billion, should maintain the current account’s surplus during the whole fiscal year.
Aurangzeb attributed the reduction in smuggling and abuse of the Afghan transit trade to administrative measures taken by the government.
In order to bring about a structural shift, he commended the State Bank of Pakistan (SBP) for its involvement in maintaining the currency through the gradual closure of weak exchange businesses and the encouragement of banks to start exchange companies.
There has been a decrease in outside pressures and a modest expansion of the economy. Aurangzeb gave his word that speculative activity in the rupee-dollar market will not return, pointing to SBP administrative actions as proof.
“We have foreign exchange reserves of $9 billion, providing cover for two months of imports,” he stated. Through digital transformation, Aurangzeb emphasised the role of the IT industry in boosting economic growth and raising the standard of living for the populace.
Aurangzeb emphasised that investment is the main force behind economic growth and pointed out that Pakistan’s investment rate is now falling. With anticipation of monetary easing, he reported a decline in food inflation to 11.8% in May and a decline in core inflation.
With a 58% GDP share, the services sector has continued to hold the top spot for a number of years. Regarding monetary policy, Aurangzeb voiced optimism, forecasting a policy rate in the single digits for the upcoming fiscal year.
The talks with the IMF were characterised as constructive and fruitful. Compared to the previous year, when wheat output was 28.16 million tonnes, Aurangzeb recorded an 11.6% rise to 31.44 million tonnes.
The budget will be unveiled tomorrow after Prime Minister Shehbaz Sharif gives his assent. According to Aurangzeb, in 2023 the GDP shrank by 0.2%.
After the press briefing ended, a Q&A round got underway.
According to Aurangzeb, the economy was saved by agriculture, especially bumper crops, and the rupee declined by 26% in 2023. He underlined how important it is to enforce laws in the areas of power and taxes. “We have to enforce the tax policies which we are unable to do right now,” he stated.In response to a query, Aurangzeb said that because the track and trace system had fallen short of expectations, the government needed to deal with leaks in tax collection. “First, leaks must be contained. The FBR increased revenue collection by 30%. Track and trace was ineffective. Everyone must contribute to the economy; there are no “holy cows.”
He said that the involvement of experts from the private sector will enhance corporate governance in DISCOs. He said that there was a current account surplus during the first three months of the fiscal year and that power theft is thought to have cost Rs. 500 billion.
Aurangzeb emphasised intentions for DISCOs to be privatised while reaffirming that they will not stay in the public sector. “Discos are going to be sold off… In the previous several months, we were able to attain monetary stability,” he remarked. “Sovereign pledges are honoured. Once everyone is on board, we need to address problems.”
He mentioned that in the first three quarters, the budget deficit was 37% of GDP.
Accompanying Aurangzeb was State Minister for Finance Ali Pervez Malik, who stated that capacity payments would decrease as grid electricity use grew. “The population growth rate stood at 2.55%.”
The weight of capacity charges would lessen with improvements in power usage and reforms, Malik continued. He claimed that the purpose of electrical load-shedding is to reduce cyclical debt. “We have adequate electricity generation capacity,” he stated.
One of the main complaints, overbilling, was addressed by Aurangzeb, who also promised changes. “You would soon hear good news in the power sector,” he stated.
He pointed out that while public and private investment increased by 15.8% and 18.2%, respectively, the investment-to-GDP ratio for FY24 stayed at 13.14%. He said that the agricultural industry will continue to be a vital pillar of growth.
“Stabilisation is the main goal of the IMF programme,” Aurangzeb stated. “Agriculture and IT have nothing to do with the IMF; these are under our control.”
In response to a query, Aurangzeb restated that although the IMF project is centred on stability, industries like IT and agriculture remain autonomous and subject to government oversight. “We have to improve productivity,” he stated.
Aurangzeb emphasised the potential in dairy and animal exports and gave Prime Minister Shahbaz Sharif credit for initiating the economic revival. He conveyed assurance over the IMF program’s importance.
He lauded the administration for taking a courageous position by signing the nine-month standby agreement and brought up the HBL agricultural plan, which aims to lessen the influence of intermediaries. Aurangzeb declared, “I believe in agriculture,” and that the government should withdraw its intervention in the field.
There were plans revealed to reorganise the wheat procurement firm, PASSCO. In support of his argument for more private sector involvement in agriculture and less government assistance, Aurangzeb cited the example of rice, whose exports had increased this year.
Aurangzeb highlighted the significance of enforcement actions in reaching a 30% increase in tax collection while reporting 1.25% growth in the industrial and services sectors. “We have to end leakages to achieve our targets,” he stated.
Assuring that speculative activity in the currency rate market has been reined in, he revealed that the second phase of the China-Pakistan Economic Corridor (CPEC) was the main focus of his recent visit to China, with a business-to-business agenda.
Aurangzeb pointed out that lower inflation has been caused by Pakistani enforcement actions as well as the conclusion of the world commodities cycle. Domestic fertiliser output rose by 17.3%, and by 2025–2026, inflation is predicted to drop to 5-7%.
He pointed out that the per capita income had increased to $1,680 from $1,551 the previous year, and he recognised that several choices made by the National Economic Council (NEC) had been overturned. When it came to handling the repayment of foreign debt, Aurangzeb voiced confidence, anticipating rollovers and some borrowing from commercial banks. “Repayment of debt won’t be a problem in the upcoming year”, he said.
After returning from the United Arab Emirates and holding a first meeting, Aurangzeb said that commercial bank borrowings are once again available. “We are very keen to go for the inaugural Panda bonds in the next fiscal year,” he stated.
He said that Ishaq Dar, the Foreign Minister and Deputy Prime Minister, had asked the IMF two questions. “We did not wait for the budget and other things, but opted to digitalise the FBR and hired an international firm for digitalisation to reduce human intervention in the FBR.”
Aurangzeb pointed out that if inflation rises once again, all central banks across the world have decided to boost interest rates. “There is no harm in dialogue; all central banks are clear that if inflationary pressure slips in, they will jack up rates.”
He highlighted that notifications should be delivered through a centralised digital system, with human interaction reserved for assessing velocity, and that FBR data should be utilised for analytics rather than field data. He praised the caretaker administration for its part in the privatisation of PIA. “The caretaker government did well in terms of pushing ahead with PIA’s privatisation, and we will hopefully see results by July.”
According to Aurangzeb, the continuing PIA due diligence should be finished by the end of July or early August. “After completing this transaction, we’ll go on to the airport transaction in Islamabad. We won’t stop here—we’ve received offers to outsource Islamabad Airport,” he said.
He emphasised that cooperation between the federal and provincial governments is necessary. Aurangzeb said that the PIA transaction is moving forward with regard to State-Owned Enterprises (SOEs) since the government is unable to continue carrying a deficit of Rs. 1 trillion. Additionally, he affirmed that Pakistan Steel Mills will be sold for scrap and that there is no opportunity for them to resurrect.
Aurangzeb noted that he chairs SOEs and emphasised the achievements of the banking industry, especially the National Bank. Projects covered by the Public Sector Development Programme (PSDP) are filtered using a mechanism that gives priority to those that have a large economic impact.
The government has a lot of unfunded projects, but the minister of finance said it will only pursue those that have a big economic benefit. Similar goals for such initiatives will be significant economic gains.
Malik stressed that savings are the foundation of investing. “We need to shift the economy’s trajectory towards saving in order to boost investment,” he continued.
According to Aurangzeb, the prime minister leads the National Economic Council (NEC), which is a strategic forum that also includes other ministries and chief ministers of provinces. Instead of only meeting once a year, he proposed that the NEC meet regularly to discuss performance and establish goals.
“We have introduced the public-private partnership model for the first time and will strictly enforce it,” he stated.
2024–2025 Budget
The government budget for the fiscal year 2024–25 is scheduled to be unveiled on Wednesday, June 12, ahead of this survey.
In order to strengthen its case for a fresh bailout agreement with the International Monetary Fund (IMF), officials and analysts suggest that the coalition government, led by the Pakistan Muslim League-Nawaz (PML-N), intends to set ambitious budgetary objectives in the Budget 2024–25.
The Annual Plan Coordination Committee (APCC) has suggested that the federal development plan for the financial year 2024–25 receive Rs1,221 billion, acknowledging significant budgetary limitations and decreased development funds under the IMF programme.
The current administration is going to propose its first budget with this one. With its economy in a slump, Pakistan is looking for a loan programme to avoid defaulting. The IMF has advised the nation to increase provincial taxes, especially those related to agriculture, services sales tax, and property taxes.
In order to avoid a default in its economy, which is expanding at the slowest rate in the region, Pakistan is in negotiations with the IMF for a loan estimated to be worth between $6 billion and $8 billion.
Ever after winning the general elections on February 8, Premier Shehbaz has made a strong commitment to implementing strict reforms. However, political pressure has been applied to his coalition administration due to high prices, unemployment, and a dearth of fresh job possibilities.
The budget’s goals for privatisation revenues will be another crucial component.
By selling a portion of its national airline, Pakistan hopes to achieve its first significant sale in almost 20 years. This is anticipated to be the first in a string of sales of businesses that are losing money, especially in the problematic power industry.
According to US Secretary of State Antony Blinken, Israel’s Prime Minister Benjamin Netanyahu has “reaffirmed his commitment” to a plan for a truce in Gaza, and Hamas will bear responsibility if it fails.
Mr. Blinken restated his demand that Hamas embrace the proposal that President Biden presented a week and a half ago. One day after meeting with Mr. Netanyahu in Jerusalem, he was giving this speech.
He alluded to Hamas leader Yahya Sinwar as “one guy” who was hidden “ten storeys underground in Gaza” and claimed to be the one who had to deliver the deciding vote.
Mr. Netanyahu has not stated whether what Mr. Biden said is consistent with an Israeli ceasefire plan or openly backed what Mr. Biden’s statement was based on
Regarding Hamas’s response to a resolution that the UN Security Council voted on Monday endorsing what Mr. Biden had said, Mr. Blinken called it a “hopeful sign”.
The resolution urged Hamas to follow Israel’s lead and acknowledged that Israel had agreed with Mr. Biden’s proposal.
In a statement released on Tuesday, Hamas expressed gratitude for “what was included” in the resolution.
However, Mr. Blinken stated that the answer from Hamas was inconclusive, stating that “what counts” is what the Hamas leadership in Gaza says, “and that’s what we don’t have”.
He declared that it was “on them” if the plan did not move forward.
According to the plan, Israel would release an unspecified number of Palestinian inmates in exchange for Hamas freeing certain captives during the first six weeks of the truce.
In a second phase, Israel would completely withdraw its soldiers from Gaza as part of a “permanent” truce, albeit the release of the remaining hostages by Hamas would still need to be negotiated.
The US is making a strong diplomatic effort through Mr. Blinken’s visit to encourage the parties to move forward with the idea, but there are significant challenges in reaching a consensus.
Although Mr. Netanyahu has admitted that his military cabinet has approved the proposal, he has not stated categorically that he supports it.
His cabinet’s far-right ultranationalists, who view the agreement as a capitulation to Hamas, have threatened to leave his coalition and bring it to an end if it moves forward.
In the meanwhile, Hamas is probably going to want for unambiguous assurances that the plan will result in the total evacuation of Israeli soldiers and the end of the conflict.
It hasn’t officially responded to the idea as of yet.
The real Israeli plan, which is supposedly longer than the summary that Mr. Biden delivered, has not been made public, and it is not evident if it differs from the message that the president conveyed on May 31. It was given to Hamas a few days before Mr. Biden gave his address.
As part of its drive to get the parties to move forward with the idea, the Biden administration is attempting to take advantage of public pressure.
Protesters holding American flags and demanding an accord were outside Mr. Blinken’s hotel on Tuesday when he spoke with Israeli authorities in Tel Aviv. Many screamed “SOS, USA” and “we trust you, Blinken, seal a deal” while brandishing images of captives.
The mother of 19-year-old Israeli soldier Nimrod Cohen, who was abducted by Hamas on October 7, Vicki Cohen, waved a poster with his image on it.
“We come here to ask Blinken and the USA government to help us, to save us from our government,” she stated to the BBC. We need their assistance to put pressure on our government since our prime minister does not want to bring back our loved ones.”
Later, during a brief encounter with the captive families outside the hotel, Mr. Blinken spoke with Ms. Cohen and other prisoner families, including American families.
“You’re going to be here every day, we’re going to be here every day,” he stated to them.
Continuing the fast-paced diplomatic tour, the secretary of state flew in a US military aircraft to Amman, the capital of Jordan, and then took a helicopter to the Dead Sea to attend a gathering of Arab leaders demanding more access for humanitarian supplies into the war-torn Gaza.
Five helicopters from the Jordanian air force transported Mr. Blinken, his aides, and the BBC among the roaming press corps. Flying low, the armada made its way westward to the town of Swemeh, which is situated on the Dead Sea’s shoreline right across from the occupied West Bank.
UN Secretary General Antonio Guterres addressed the meeting, “The horror must end.” “The speed and scale of the carnage and killing in Gaza is beyond anything in my years as secretary general,” he stated.
Head of UN humanitarian coordination Martin Griffiths called the Gaza conflict a “stain on our humanity” and demanded $2.5 billion to cover Gaza’s Palestinian population’s humanitarian needs from April to December.After Hamas struck Israel on October 7, murdering over 1,200 people and capturing 251 more as captives and sending them back to Gaza, the conflict broke out. Since then, the Israeli onslaught has claimed the lives of over 37,000 Palestinians, according to the Gaza health ministry, which is managed by Hamas.
ISLAMABAD: The Supreme Court of Pakistan on Tuesday ruled that all restaurants within the Margalla Hills National Park (MHPN), including Islamabad’s Monal Restaurant, must close.
The orders were given in response to a court order dated March 11 that requested the full property ownership record for the eatery.
Chief Justice Qazi Faez Isa presided over a three-person bench of the highest court, which considered the applications submitted by the Wildlife Department and the Margalla Hills-based Monal Restaurant.
Earlier on March 8, the supreme court suspended the Islamabad High Court’s (IHC) decision and ordered the cafe to remove its seal.
The Capital Development Authority (CDA) was requested by the court to provide original documentation pertaining to the 8,600 acres of MHPN land.
The court was told by the extra attorney general that the Military Estate Office maintains ownership of the land.
The top justice did note, however, that the property is held by the Pakistani government and not the military. He added that someone had posed a straightforward question about who owned it—the CDA or someone else.
The regulator’s report was rejected by the supreme court at today’s hearing, but the head of the CDA was immediately called.
According to CJP Isa, the court had asked the CDA for information on Monal and other eateries.
At this point, a CDA attorney stated that they had produced a report that includes every detail of every building that has been done in Margalla Hills National Park.
The additional attorney general informed the court that the land is still owned by the Military Estate Office.
Nonetheless, the chief justice acknowledged that the Pakistani government, not the armed forces, is the rightful owner of the land. He also mentioned that a direct query regarding who owned it—the CDA or someone else—had been asked.
The head of the CDA was called right away after the Supreme Court rejected the regulator’s findings at today’s session.
CJP Isa claims that the court had requested information about Monal and other restaurants from the CDA.
At this juncture, a CDA lawyer said that they had completed a report that encompasses every aspect of each building project completed in Margalla Hills National Park.
Subsequently, the Supreme Court ordered Monal and all other eateries within the National Park to move within the allotted three months.
The court stated in its remarks that safeguarding the National Park’s protection is its primary goal. It further stated that all other eateries are no longer receiving the pointless messages, with the exception of National Park.
The court declared that the National Park is its exclusive focus. “All the leases granted to restaurants located in National Park are declared null and void,” the judge said.
Additionally, CJP Isa ruled that any commercial activity in the National Park of Khyber Pakhtunkhwa must end.
The Supreme Court announced that it will provide a written ruling in the Monal restaurant case at a later time.
Pakistan plays effervescent Canada in a must-win match on a difficult field in New York, their future dangling by a thread.
Who: Canada vs. Pakistan
What: Group A match of the ICC T20 World Cup 2024
When: June 11, Tuesday, 10:30 a.m. local time, or 14:30 p.m. GMT
Where: New York, USA’s Nassau County International Cricket Stadium
How to watch: At 11:30 GMT, Al Jazeera begins its live text and photo coverage.
Pakistan’s World Cup fate is always in doubt, so this is all too familiar ground for them.
GO ON READING
list of four objects, part one
Can Pakistan overcome bad form and disarray off the pitch to win the T20 World Cup?
list two of four
A look at the major rivalries in cricket: India vs. Pakistan, the “nagin dance,” and the Ashes
list Out of 4
Everything you should know about the stadiums for the ICC T20 World Cup in 2024 (list 4 of 4)
If they lose, their last Group A matchup with Ireland will be only a ceremonial match before they head home. If they triumph and hope that other outcomes in the group go their way, they will still be in the running if they defeat Ireland on Sunday.
Supporters and analysts alike are furious and frustrated with Pakistan’s defeat against India.
Pakistan seemed in control at the start of the eleventh over, needing 63 runs from 59 balls with eight wickets remaining, but ultimately lost by six runs.
Wasim Akram, the team’s former captain, demanded that some of the underperforming players be cut and that the lineup be adjusted.
Following the game, he declared, “After this performance, Pakistan don’t deserve to go to the Super Eight.”
According to Pakistan’s assistant coach Azhar Mahmood, the country’s hitters lost the chase because they made bad decisions in shot selection.
Before the game against Canada, which he referred to as a “do-or-die match,” Mahmood stated in his press conference that “it [poor performance] can come from nerves, or the fear of failure.”
“We need to win both of our upcoming games.”
“Believing in our chances”
Their rivals, however, see the match as an opportunity to pull off yet another significant shock in the competition.
Top-order hitter Aaron Johnson of Canada suggested that his side would benefit from the unpredictability of the pitch in New York.
He told reporters, “We are looking to use the fact that the wicket is playing some tricks, it levels the playing field for us.”
Canada has already defeated Ireland going into the game, and according to Johnson, the Maple Leafs are “fancying our chances” against an inconsistent Pakistani squad.
“We want to bat well and simply support it in the field.”
Pitch and meteorological circumstances
Though it still draws debates and criticism from experts and fans alike, the New York pitch has significantly improved since it hosted its inaugural game on June 2.
Teams may now record totals of 100 or more, but huge shots and boundaries are still hard to come by.
Promotion
Tuesday’s weather in Long Island is predicted to be cloudy and humid, so there shouldn’t be any problems for the entire game.
Comparatively
In their lone Twenty20 encounter, Pakistan defeated Canada by a score of 35 runs in 2008.
Form handbook
Despite having not won many T20 matches recently, both teams will be facing off after divergent outcomes.
Canada’s victory against Ireland will uplift their morale, but Pakistan’s two losses in two games have highlighted their misfiring batting.
Pakistan: L L L W
Canada: W L L L L
Promotion
Team News from Pakistan
Pakistan may attempt to bring in young opener Saim Ayub and substitute another fast bowler, Abbas Afridi, for one of their three spin-bowling all-round players in an effort to maintain their hopes.
Squad: Iftikhar Ahmed, Imad Wasim, Shadab Khan, Mohammad Amir, Shaheen Shah Afridi, Naseem Shah, Abbas Afridi, Haris Rauf, Abrar Ahmed, Mohammad Rizwan, Saim Ayub, Fakhar Zaman, Usman Khan, Azam Khan, Mohammad Amir.
Team News for Canada
Canada is probably going to continue with the group that won their inaugural T20 World Cup.
Squad: Saad bin Zafar (captain), Junaid Siddiqui, Kaleem Sana, Nicholas Kirton, Pargat Singh, Rayyan Khan Pathan, Shreyas Movva, Dilon Heyliger, Dilpreet Bajwa, Harsh Thaker, Jeremy Gordon, Navneet Dhaliwal, Aaron Johnson, Ravinderpal Singh, Kanwarpal Tathgur, and Shreyas Movva.
