KARACHI: Pakistan’s finance minister Shaukat Tarin on Tuesday presented a contentious finance bill, popularly known as the ‘mini budget,’ in the Senate for the revival of a $6 billion International Monetary Fund (IMF) loan program, amid uproar from opposition parties.
The Finance (Supplementary) Bill 2021, which was presented in the lower house of parliament last week, aims to end tax exemptions on nearly 150 items as a prior action for the revival of the IMF program.
It will empower the government to level a uniform 17 percent General Sales Tax (GST) on goods that were taxed at 5 percent or 12 percent rates. The amendment will also enable the government to generate over Rs343 billion in additional revenue.
The Senate chairman on Tuesday sent the supplementary bill to standing committee on finance for a review. The committee will submit its recommendations within three days.
Opposition senators protested the bill, saying it was being presented on the conditions of the IMF and the government’s next move would be an increase in the power tariff.
“The finance minister has said that petroleum prices have been increased on the recommendation of the IMF and that the IMF was under the pressure of USA,” Pakistan Peoples Party (PPP) Senator Raza Rabbani said, while speaking on the floor of the Senate.
“People want to know what American pressure was that. The nation will resist IMF and USA pressure.”
Calling the mini-budget an anti-people budget, Senator Sherry Rehman said this bill would be “a cause of the fall of this government.”
“The government of Pakistan Tehreek-e-Insaf (PTI) will fall because of mini-budget and its other controversial bills,” she said.
Pakistani opposition lawmakers and economists have warned that the measures introduced by the government are anti-growth and will trigger inflation.
Earlier, Shehbaz Sharif, the leader of the opposition in the National Assembly, described the mini-budget as a “death knell” for the country, while PPP chairman Bilawal Bhutto-Zardari called it an “anti-public budget.”
The measures Pakistan has agreed to meet for the IMF would have a monetary impact of around Rs600 billion, including around Rs350 billion through tax exemption withdrawals and new tax imposition, Rs200 billion through cuts in development funds, and Rs50 billion through other adjustments.
The government has downplayed the opposition’s fears of the mini-budget causing more inflation in Pakistan. Finance minister Shaukat Tarin said new taxes worth only Rs2 billion were being imposed, which would not lead to widespread inflationary pressures.
The IMF executive board will meet on January 12 to decide whether it should revive the stalled loan program, which the two sides entered in 2019 to limit the South Asian nation’s mounting debts and stave off a looming balance-of-payments crisis, in exchange for tough austerity measures.
Five reviews of the program had been completed by March. The sixth review has been pending since June 2021. The revival of the IMF program would allow the release of over $1 billion loan tranche to Pakistan, which would bring total disbursements to over $3 billion. The IMF program revival would also unlock significant funding from bilateral and multilateral donors.
The finance ministry on Sunday said the government had introduced both the bills in the National Assembly, and the IMF had moved the 6th tranche recommendation to its board for consideration on January 12.
As soon as the prior actions are completed by Pakistan, “which the government is pushing hard, the IMF board will consider it for approval. IMF board can move whenever our actions are completed,” it said in a statement.
Pakistan presents mini-budget in Senate as prior action for IMF loan program revival
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Pakistan presents mini-budget in Senate as prior action for IMF loan program revival
- Senate’s finance committee will review amendments and submit recommendations within three days
- Amendment bill seeks waiver of tax exemptions to generate around Rs343 billion additional revenues
Pakistan PM, president condemn gun attack on speaker Azad Kashmir’s convoy
- Chaudhry Latif Akbar’s convoy was fired upon when it arrived on Sunday in village near Muzaffarabad
- Shehbaz Sharif prays for early recovery of three persons injured, orders stern action against culprits
ISLAMABAD: Prime Minister Shehbaz Sharif and President Asif Ali Zardari on Sunday condemned a gun attack targeting the speaker of the Kashmir region administered by Pakistan that left three people injured, tasking authorities to take stern action against the culprits, state-run media reported.
Speaker Chaudhry Latif Akbar, a leader of the Sharif-led ruling coalition ally Pakistan Peoples Party (PPP), was visiting his constituency in Kakliyot village around 15km south of Muzaffarabad when the shooting took place on Sunday as per news reports.
Three PPP supporters who were part of the convoy were injured in the attack. Akbar had reportedly received threats from Raja Amir Zafar, a local district council member, who vowed that no one would be allowed to enter the village for Akbar’s visit.
“President Asif Ali Zardari and Prime Minister Shehbaz Sharif have strongly condemned the incident of firing on the convoy of Speaker of Azad Jammu and Kashmir Legislative Assembly,” state broadcaster Radio Pakistan reported on Sunday.
Zardari described the attack on the speaker as a “cowardly and despicable act,” praying for the early recovery of the injured.
In his statement, the Pakistani prime minister prayed for the early recovery of the injured persons.
“The Prime Minister directed the authorities concerned to take immediate action and ensure the arrest of those responsible for the attack,” Radio Pakistan reported.
Azad Kashmir is a self-governing administrative unit under Pakistan’s control but is not recognized as a sovereign country. The Muslim-majority Kashmir region has long been a source of tensions between nuclear-armed neighbors India and Pakistan, leading them to fight two out of three wars since winning independence from the British Empire in 1947 over the disputed territory.
The scenic mountain region is divided between India, which rules the populous Kashmir Valley and the Hindu-dominated region around Jammu city, Pakistan, which controls a wedge of territory in the west called AJK, and China, which holds a thinly populated high-altitude area in the north. Besides Pakistan, India also has an ongoing conflict with China over their disputed frontier.
Pakistan to participate in upcoming International Taekwondo training camp in Sharjah
- Saudi Arabia, UAE, Uzbekistan, Russia and other countries to take part in camp underway in Sharjah till Feb. 5
- Camp to provide athletes opportunity to engage in high-level training sessions, foster international collaboration
ISLAMABAD: Pakistan is participating in the upcoming 11th Sharjah International Taekwondo Training camp alongside teams from Saudi Arabia, United Arab Emirates (UAE), Ukraine, Russia, Kazakhstan and other countries, state-run media recently reported.
Taekwondo is a traditional Korean martial art practiced across 206 countries, according to the official Olympics website. In taekwondo, hands and feet can be used to overcome an opponent but the trademark of the sport is its combination of kick movements.
Pakistan’s team arrived in Sharjah this week to participate in the international training camp, which will be underway till Feb. 5, state-run Associated Press of Pakistan (APP) reported. More countries expected to join in the coming days.
“The 11th Sharjah International Taekwondo Training Camp will provide a valuable opportunity for athletes to enhance their skills, engage in high-level training sessions and foster international collaboration in the sport,” APP said on Sunday.
Pakistan has made some gains in the martial art sport over the past few months. In October 2024, Pakistan’s taekwondo team made history by winning the 6th Asian Open (Khyurogi) Taekwondo Championship held in Indonesia from Oct. 14-17 last year.
Pakistani twin sisters Manisha Ali and Maliha Ali, hailing from the country’s northern Hunza valley, were part of the team that secured three gold, three silver, and two bronze medals in the championship.
The tournament featured over 275 athletes from across Asia, including participants from India, Uzbekistan, Tajikistan, the Philippines, Malaysia, Nepal and Indonesia.
The same month Pakistan’s youngest taekwondo champion Ayesha Ayaz took part in the Qatar International Open Taekwondo Championship. Ayaz was among 1,440 players from 40 countries who competed in the event across four categories: cadet, juniors, youth and adults.
Pakistani firms showcase national heritage, tourism services at New York travel show
- Financial Times, CNN recently featured the South Asian country among top destinations worldwide to visit in 2025
- In a bid to boost tourism, cash-strapped Pakistan last year began offering free visas to citizens of over 120 nations
ISLAMABAD: More than a dozen Pakistani firms and provincial tourism departments showcased the country’s heritage and tourism potential at the Travel & Adventure Show 2025 in New York, Pakistani state media reported on Sunday.
For over 20 years, the Travel & Adventure Show has connected more than 2.7 million travel enthusiasts and over 16,500 unique travel advisers with over 5,800 different exhibiting companies from around the world, influencing over $7 billion in travel bookings, according to the show’s website.
This year, the Trade Development Authority of Pakistan (TDAP), in collaboration with the Pakistan Tourism Development Corporation (PTDC) and the Pakistani consulate in New York, set up the Pakistan Pavilion at the show held on Jan. 25-26.
“Pakistan Pavilion showcased Pakistan’s breathtaking destinations, rich cultural heritage, and a wide range of tourism services,” the Radio Pakistan broadcaster reported.
Pakistan Pavilion received the award for ‘Best Partner Pavilion’ at the Travel & Adventure Show 2025, according to the report. A large number of attendees visited the pavilion and expressed their keen interest in mountaineering, and adventure and religious tourism.
Pakistan is home to the ancient Indus Valley and Gandhara civilizations, sacred places of Sikhs and Hindus and followers of other faiths as well as five of the 14 world peaks above the height of 8,000 meters in its north.
International business publication Financial Times recently featured Pakistan in its list of 50 places worldwide to visit on holidays, citing its “dramatic mountain scenery” and an improved security situation as reasons worth visiting the area.
Pakistan’s northern Gilgit-Baltistan (GB) region also made it to CNN’s list of 25 destinations that are particularly worth visiting in 2025. Thousands of tourists and foreign climbers visit the sparsely populated northern region each year for expeditions on various peaks, paragliding and other sports activities.
In a bid to boost its tourism sector, cash-strapped Pakistan also began offering free visas online to citizens of more than 120 nations in August 2024.
Pakistan fears lower production as ‘severe’ drought dents winter harvest
- Pakistan ranks among countries most vulnerable to climate change, which scientists say is making extreme weather events more common and more severe
- Analysts say a fast-growing population, climate change and poor resource management with an over-reliance on Indus River are all spurring water scarcity
ISLAMABAD: Pakistan fears lower production as a “severe” winter drought has ravaged several crops in the country’s breadbasket, an official said on Sunday, stressing the need to build more water reservoirs and restore wetlands.
The South Asian country — home to more than 240 million people — ranks among the nations that are most vulnerable to the effects of climate change, which scientists say is making extreme weather events more common and more severe.
According to the Pakistan Meteorological Department (PMD), rainfall from Sept. 1 to Jan. 15 was 40 percent below normal across Pakistan, with Sindh, Balochistan, and Punjab being the most affected provinces with deficits of 52 percent, 45 percent, and 42 percent respectively.
Muhammad Saleem Shaikh, a spokesperson for Pakistani climate change ministry, said the ongoing severe drought is in fact part of a larger trend of increasing climate variability that threatens to disrupt agriculture and exacerbate water shortages, the state-run Radio Pakistan broadcaster reported.
“Reduced water availability due to low rainfall was adversely impacting the growth of crops like wheat, a staple food, as well as vital cash crops like potato, leading to fears of lower production and rising food prices and their shortages in future,” he was quoted as saying.
“The ongoing winter drought conditions in the country underscore the urgent need for a unified response to address the country’s water crisis.”
The agriculture sector contributes nearly a quarter of Pakistan’s gross domestic product (GDP) and employs 37 percent of the national labor force, according to the United Nations’ Food and Agriculture Organization.
Pakistan generally relies on water from the Indus river which bisects the country from north to south, where it empties into the Arabian Sea.
But analysts say a fast-growing population, climate change and poor resource management with an over-reliance on a single water source are all spurring scarcity.
Shaikh said building water reservoirs, restoring wetlands and promoting drought-tolerant crop varieties is vital to mitigating recurring and intensifying drought risks in the country.
“Rainwater harvesting, groundwater recharge and the adoption of modern irrigation methods like drip and sprinkler systems are no longer optional,” he said. “They are critical tools in our survival weaponry.”
Pakistani women voted differently from men in 18 percent communities in 2024 general election — report
- Pakistan held a general election on Feb. 8 last year that was marred by a mobile Internet shutdown and unusually delayed results
- The polls threw up a hung parliament and were followed by weeks of protests over vote count fraud, an allegation denied by authorities
ISLAMABAD: Women voters in 18 percent communities in the jurisdiction of male and female polling stations voted differently from their men counterparts during General Elections in Pakistan in Feb. 2024, a Pakistani election monitor said on Sunday.
Pakistan held its general election on Feb. 8, 2024 that was marred by a mobile Internet shutdown and unusually delayed results. The polls threw up a hung National Assembly and were followed by weeks of protests by opposition parties over allegations of rigging and vote count fraud.
Pakistani election authorities denied the allegations, and Shehbaz Sharif, who was favored by a coalition of political parties, secured a comfortable win over Omar Ayub of the Sunni Ittehad Council (SIC), which was backed by jailed former prime minister Imran Khan.
The Free and Fair Election Network (FAFEN), which aims to promote electoral transparency in Pakistan, compared results of male and female polling stations in the same communities and found that in 82 percent of the communities, male and female voters’ choice of winner was aligned.
“In 18 percent of the communities, male and female voters diverged in their choice of winner as they returned different winners from their respective polling stations,” FAFEN said in its report issued on Sunday.
“Compared to rural areas, communities in urban areas showed more divergent choices among male and female voters.”
The federal capital of Islamabad had the highest proportion (37 percent) of electoral communities with different winners in male and female polling stations. Balochistan had the second-highest proportion (32 percent), followed by Sindh (19 percent) and Punjab (18 percent), while Khyber Pakhtunkhwa (KP) had the lowest proportion (13 percent) of such electoral communities, according to the report.
Of the 3,884 communities where women’s choice of winner for National Assembly (NA) seats was different, the Pakistan Tehreek-e-Insaf (PTI) won more support from women in 1,260 communities, followed by the Pakistan Muslim League Nawaz (PMLN) in 1,027 and the Pakistan Peoples Party Parliamentarians (PPPP) in 694 communities. Regional trends showed that while the PTI performed well across the country in terms of women voters’ choice, the PML-N remained strong in Punjab, and the PPPP dominated in Sindh.
The assessment included 21,188 communities, comprising 42,804 comparable male and female polling stations. In 37 NA constituencies, the largest proportion of voters in female polling stations did not vote for the winning candidates, according to the report.
In 226 NA constituencies, the largest proportion of voters in female polling stations voted for the constituency winner. In 166 of those NA constituencies, compared to voters in male polling stations, a larger proportion of voters in female polling stations polled for the winner.
Pakistan’s National Assembly has a total 336 seats, of which members are directly elected on 266, 60 are reserved for women and a further 10 for religious minorities.
“In seven constituencies – NA-43 Tank-cum-Dera Ismail Khan, NA-49 Attock-I, NA-55 Rawalpindi-IV, NA-87 Khushab-I, NA-94 Chiniot-II, NA-128 Lahore-XII and NA-163 Bahawalnagar-IV – the lead at female polling stations determined the winner,” FAFEN said.
