Author: Dawn.com

The Planning Minister, Ahsan Iqbal, reassured the PML-N that they have “nothing to worry about” regarding potential talks between the military and PTI, according to a report by Voice of America (VoA) Urdu. PTI founder Imran Khan recently expressed readiness for dialogue with the military, laying down three preconditions. Minister Iqbal highlighted that the military has decided to stay out of politics based on its 2018 experience and questioned Imran’s stance on engaging in talks. Iqbal also suggested that PTI should apologize to institutions for their offensive remarks and warned that a ban could be imposed if there is strong…

In a recent interview with Voice of America Urdu, Planning Minister Ahsan Iqbal reassured that the PML-N has no reason to worry about any talks between the military and PTI. Amid speculation, incarcerated PTI founder Imran Khan expressed readiness for talks with the military establishment, laying down three preconditions. Iqbal commented on this development, emphasizing the military’s decision to stay separate from politics after their 2018 experience. He questioned Imran’s stance on military neutrality and criticized PTI’s offensive position against the state. Addressing the possibility of a ban on PTI, Iqbal mentioned that institutions could move forward with it if…

Pakistan has received five bids from Chinese firms to help it raise funds via Panda bonds, as reported by Bloomberg. Panda bonds are debt securities denominated in Chinese yuan issued by foreign entities in the Chinese capital markets. This move allows Pakistan to tap into the Chinese market and diversify its funding sources. The finance ministry is evaluating the proposals before making a final selection. Finance Minister Muhammad Aurangzeb expressed the country’s interest in selling up to $300 million in panda bonds to Chinese investors for the first time this year, aiming to reach new markets and strengthen economic stability.…

A rights organization, Amnesty International, has demanded an end to the brutal crackdown on Baloch protests in Pakistan, following clashes between security forces and participants of the Balochistan Yakjehti Committee. The clashes resulted in three deaths and several injuries. Despite roadblocks, a large number of people managed to gather for the Baloch Raji Muchi protest in Gwadar. The military reported casualties among security personnel during the clashes, while the BYC leader claimed hundreds of their supporters had been arrested. Amnesty International urged the immediate release of organizers and condemned the violent crackdown, calling for the protection of civil and political…

Finance Ministry Report: Pakistan’s Economy Moving Towards Stability The finance ministry recently released its monthly outlook for July, highlighting positive trends in Pakistan’s economy. According to the report, the Consumer Price Index (CPI) inflation is heading towards single digits, reaching 12.6% in June 2024 compared to a historic high of 38% in May 2023. The report emphasized that the economy is moving towards stability in fiscal year 2024, with decreasing inflation, a surplus in the primary fiscal account, a negligible current account deficit, and a stable exchange rate. This improvement is attributed to prudent fiscal and monetary management, as well…

Jamaat-i-Islami (JI) Emir Hafiz Naeemur Rehman reiterates the party’s demand to reduce electricity tariffs and eliminate independent power producers (IPPs) in Pakistan. Addressing a rally in Rawalpindi, Rehman highlights the burden faced by underprivileged communities with the current electricity charges. He urges the government to review agreements with power producers, accusing them of excessive power and influence. Rehman criticizes past administrations for surrendering to IPPs since 1994 and questions why the poor population should bear the brunt of capacity charges. He emphasizes the need for peaceful political resistance against governmental inaction on increased electricity bills. The government has formed a…

Fitch Upgrades Pakistan’s Credit Rating to CCC+ A recent announcement by global credit rating agency Fitch has upgraded Pakistan’s long-term foreign-currency issuer default rating (IDR) to CCC+ from CCC. This positive change comes in light of Pakistan’s deal with the International Monetary Fund (IMF), bringing greater certainty over external funding availability. The upgrade reflects the country’s staff-level agreement with the IMF on a new 37-month $7 billion extended fund facility (EFF). This agreement, once validated by the Fund’s Executive Board, is expected to help Pakistan achieve macroeconomic stability and foster stronger, more inclusive growth. Fitch noted the government’s successful performance…

Finance Minister Muhammad Aurangzeb announced that the government has returned approximately Rs68 billion in income tax refunds since July 1. He emphasized the importance of expanding the tax net and cooperation from all sectors to achieve goals. The Federal Board of Revenue (FBR) allows taxpayers to reclaim excess taxes through the Iris system, but refunds must be claimed within two years. Aurangzeb stated that timely refunds enhance liquidity for businesses to operate effectively and invest in growth. He addressed skepticism towards the government and emphasized the need for tax reform. The minister discussed the Tajir Dost Scheme to simplify tax…

Federal Government Engages in Talks with JI to End Rawalpindi Sit-in The federal government is set to hold discussions with Jamaat-i-Islami (JI) today in an effort to peacefully resolve the ongoing sit-in at Rawalpindi’s Liaquat Bagh. JI Emir Hafiz Naeemur Rehman issued a warning of expanding the protest nationwide if their demands regarding electricity bills and taxes are not met. Around 3,000 protesters from various regions gathered at Liaquat Bagh to resist the increased power tariffs and heavy taxes imposed in the federal budget. Speaking at the site, Rehman emphasized that these issues affect the entire country, not just JI.…

Jamaat-i-Islami (JI) Emir Hafiz Naeemur Rehman issued a stern warning on Saturday that their sit-in protest in Rawalpindi could potentially expand to other parts of the country if the government does not meet their demands regarding high electricity bills and increased taxes. Rehman emphasized that the protest would not remain limited to Murree Road and could escalate nationwide if their concerns were not addressed. The sit-in was initially planned at D-Chowk in the Red Zone but was moved to Liaquat Bagh following government negotiations. Despite arrests of JI workers trying to enter the capital, the protest continued, causing disruptions in…