ISLAMABAD: Pakistan’s finance minister, Muhammad Aurangzeb, said on Monday the South Asian country aimed to increase its revenue by 1.5 percent of the gross domestic product this fiscal year under a new $7 billion loan deal with the International Monetary Fund (IMF).
The Pakistani finance minister said this during a virtual meeting with representatives of Fitch Ratings agency, including Senior Director Thomas Rookmaker, and Directors Asia Pacific Krisjanis Krustins and Jeremy Zook.
The discussions encompassed ongoing reforms in the energy sector and state-owned enterprises, including privatization and “rightsizing” of government entities to streamline operations and improve governance, according to the finance ministry.
Aurangzeb informed the rating agency about multilateral institutions’ confidence in financing Pakistan’s projects and briefed them on the staff-level agreement reached with the IMF this month to bolster Pakistan’s homegrown economic reform agenda.
“The Federal Minister apprised the Fitch representatives of salient features of the new program which includes setting a target of increasing our revenues by 1.5 percent of GDP in FY 2025 and by 3 percent over the coming 3 years,” the finance ministry said in a statement. “A primary surplus of 1 percent of GDP will also be achieved for FY 2025.”
He provided an extensive update on Pakistan’s current economic landscape and highlighted Pakistan’s foreign exchange reserves had reached $9.4 billion, robust stock exchange performance, and CPI inflation recorded at 12.6 percent in June.
The minister noted a 7.7 percent rise in foreign remittances and emphasized the government’s efforts to broaden the tax base, citing a 30 percent increase in tax collection during the outgoing fiscal year as compared to previous year.
“More than 150,000 retailers have registered as first-time tax payers. The IT exports crossed the figure of USD 3 billion,” Aurangzeb was quoted as saying by his ministry.
Pakistan’s new government presented its first budget in parliament last month, setting an ambitious tax collection target. Aurangzeb said at the time Pakistan wanted to collect Rs13 trillion ($44 billion) in taxes, which would be 40 percent more than the outgoing fiscal year.
“The representatives from Fitch Ratings appreciated the ambitious targets and fiscal measures adopted by the Government of Pakistan and acknowledged the improvement in economic indicators,” the finance ministry added.
Pakistan aims to increase revenue by 1.5 percent of GDP this year under new IMF deal — minister
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Pakistan aims to increase revenue by 1.5 percent of GDP this year under new IMF deal — minister
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- The statement came during Finance Minister Muhammad Aurangzeb’s virtual meeting with representatives of Fitch Ratings agency
- The discussions encompassed reforms in energy sector and state enterprises, including privatization and ‘rightsizing’ of entities
Pakistan army chief urges nation not to let ‘political differences turn into hatred’
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- The statement appeared to be directed at supporters of jailed ex-PM Imran Khan, who has waged an unprecedented campaign of defiance against the country’s military
- Gen Asim Munir says any efforts to weaken national solidarity will never succeed, urges the Pakistani nation to demonstrate unity, tolerance and harmony in social affairs
ISLAMABAD: Pakistan’s Army Chief General Asim Munir on Friday urged the nation not to let “political differences turn into hatred,” maintaining that unity among the country’s armed forces and the nation will continue to keep the enemy designs from succeeding.
The army chief said this while addressing a ceremony at the army headquarters in Rawalpindi to mark the country’s Defense Day, which commemorates the sacrifices of the heroes of the 1965 war against India.
The ceremony was attended by Prime Minister Shehbaz Sharif, Punjab Chief Minister Maryam Nawaz, Azad Kashmir prime minister, and senior military and government officials as well as families of the martyrs.
During his address, the army chief urged the Pakistani nation to demonstrate unity, tolerance and harmony in social affairs.
“The ulterior motives to weaken national solidarity will never succeed,” he said. “It is a must for national solidarity that we stay above religious intolerance and protect the rights of minorities as per the Constitution of Pakistan, and not to let political differences turn into hatred.”
Gen Munir’s statement appeared to be directed at the supporters of jailed former prime minister Imran Khan, who has waged an unprecedented campaign of defiance against the country’s military since his ouster in a parliamentary no-trust vote in April 2022.
Khan has accused the then army leadership of orchestrating his ouster together with his political rivals as part of a United States-backed “foreign conspiracy.” The military, Khan’s rivals and Washington have repeatedly denied this.
In May 2023, supporters of the ex-premier went on a rampage after he was briefly arrested, vandalising military installations across the country in one of the most serious challenges to the Pakistani military that has ruled the country for nearly half of its history.
During his address, Gen Munir said the principles of “unity, faith and discipline” of Pakistan’s founder Muhamad Ali Jinnah were a guiding light for the nation.
“Apart from its geographical location, Almighty Allah has blessed Pakistan with countless natural resources,” he said. “Our real asset is the public, especially our young generation that has a critical role in the country’s integrity and development.”
He paid a tribute to the civilians and officials and soldiers of the armed forces and law enforcement agencies, who laid their lives for the independence, security and honor of the country.
“As long as such dignified sons are present on this soil, the defense of the country will remain invincible,” the army chief added.
On Defense Day, Pakistan inducts two new warships in its naval fleet
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- Pakistan celebrates Defense Day on Sept. 6 to honor soldiers who fought against India in 1965
- The ships, Babur and Hunain, have been equipped with anti-ship and anti-air warfare weapons
KARACHI: Pakistan on Friday inducted two new warships, Babur and Hunain, into its naval fleet, the Pakistan Navy said, as the nation marked its Defense Day.
The South Asian country celebrates its Defense Day each year on September 6 to honor the soldiers who fought against India in the 1965 war.
A ceremony for the induction of MILGEM Class Corvette Babur and Offshore Patrol Vessel HUNAIN was held at the Pakistan Navy Dockyard in Karachi.
Pakistan President Asif Ali Zardari graced the occasion as the chief guest, according to the navy’s Directorate General of Public Relations (DGPR).
“The Chief Guest dilated upon the precarious geo-strategic environment in the Indian Ocean and the need to have a potent Naval force to counter growing traditional and non-traditional challenges,” the DGPR said in a statement.
“He reiterated that induction of these ships in PN Fleet will consolidate and enable the Fleet to meet its ever-growing operational responsibilities.”
President Zardari formally handed over the ships’ scrolls to the commander of Pakistan Fleet, which marked the induction of the two warships.
Hunain is a multipurpose medium-sized offshore patrol vessel, equipped with state-of-the-art electronic warfare, anti-ship and anti-air warfare weapons, sensors, and self-protection and terminal defense system, according to the DGPR.
The Babur-class corvette is a subclass of the Turkish MILGEM project. The corvette class is heavier and larger than the Turkish Ada-class corvette and also equipped with vertical launch systems.
In his welcome address, Chief of the Naval Staff Admiral Naveed Ashraf termed the induction of these ships a “major milestone in capacity building of PN [Pakistan Navy] Fleet.”
“He acknowledged the government’s full support for providing best possible resources for this purpose,” the DGPR said.
The induction ceremony was attended by Turkiye’s Deputy Minister of National Defense Bilal Burdali, chairman of Pakistan’s Joint Chiefs of Staff Committee, political leadership and high-ranking officials of the armed forces.
On Thursday, Pakistan’s Embassy in Abu Dhabi hosted a reception to mark Defense Day aboard Pakistan Navy Ship Shamsheer at the Cruise Terminal, Mina Zayed Port, the mission said in a statement.
Pakistan’s envoy to the UAE, Ambassador Faisal Niaz Tirmizi, along with Commodore Shahid Wasif SI (M), Mission Commander of the Pakistan Navy, welcomed chief guest General Salem Saeed Al Jabri, UAE’s Assistant Foreign Minister for Military and Security Affairs, and Brig. Abdullah Al Mohairbi, Deputy Commander of the UAE Navy, at the reception, which was attended by members of the diplomatic corps and officials of the UAE government.
Court orders removal of serving general heading Pakistan’s National Database and Registration Authority
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- Lt Gen Munir Afsar was appointed NADRA chairman in Oct. 2023 and became the first serving army officer to be appointed on the key post
- The Lahore High Court on Friday ruled the appointment was made without requisite ‘authority of law’ and ordered Lt Gen Afsar’s removal
ISLAMABAD: The Lahore High Court (LHC) on Friday declared as “unauthorized” the appointment of a serving lieutenant general as chairman of Pakistan’s National Database and Registration Authority (NADRA), ordering his removal from the post.
Lt. Gen. Munir Afsar was appointed NADRA chairman in Oct. 2023 and became the first serving army officer to be appointed on the key post. The appointment was made by the caretaker government of then-prime minister Anwaar-ul-Haq Kakar and confirmed by the elected government in March 2024 for a period of three years.
Petitioner Ashba Kamran had challenged the appointment in the LHC and stated in the petition that the appointment was “in violation of the provisions of NADRA Ordinance, 2000” and did not adhere “to the requirements of conducting a fair and competitive process for appointment by inviting potential aspirants.”
Presiding over a hearing of the case on Friday, LHC’s Justice Asim Hafeez ruled that the appointment was made without requisite “authority of law” and ordered removal of Lt Gen Afsar from the post.
“Illegality committed by way of an unauthorized appointment, by the appointing authority in absence of delegation, cannot be covered... Hence, discretion necessarily needs to be exercised, to end usurpation of the office,” the judge wrote in his verdict.
“In these circumstances, act of confirming the appointment of Respondent No 6 [Lt Gen Afsar] is unauthorized and otherwise inconsistent with the enactment, therefore, without requisite ‘authority of law’.”
The judge ruled that the “appointment, confirmation and continuing holding of the office of Chairman NADRA by respondent No. 6 is declared without the ‘authority of law’.”
Justice Hafeez ordered court officials to send a copy of the order to the federal cabinet, interior ministry and all concerned departments.
Afsar was promoted to the rank of lieutenant general in October 2022. He had taken over the position of NADRA chairman from Asad Rehman Gilani, who assumed the office in June 2023 following the resignation of Tariq Malik.
PM congratulates Pakistan’s Haider Ali for winning bronze at Paris Paralympics discus throw
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- Ali won the bronze medal with a 52.54-meter throw, clinching his fourth Paralympic medal
- PM Shehbaz Sharif says Ali’s courage, determination are source of inspiration for Pakistanis
ISLAMABAD: Prime Minister Shehbaz Sharif on Friday congratulated Haider Ali for winning bronze at the Men’s Discus Throw event at Paris Paralympics 2024, describing him as an “inspiration for the entire nation.”
Ali won the bronze medal with a 52.54-meter throw, clinching his fourth Paralympic medal. Uzbekistan’s Tolibboy Yuldashev won gold with a massive 57.28m throw, setting a personal best on his sixth attempt.
Ali led the field in the first attempt with a solid 52.28-meter throw, but was overtaken by Canada’s Jesse Zesseu, who won silver, with a 52.81m throw in the third round.
In his post on X, Pakistan PM Sharif said his country was celebrating Ali’s performance at the Paris Paralympics.
“Congratulations Haider Ali @HaiderAthlete on winning the Bronze medal at the Paris #Paralympics 2024,” the prime minister said. “Your courage and determination are a source of inspiration for the entire nation. Wishing you the very best!“
The development comes weeks after Pakistan’s Arshad Nadeem made history at the Paris Olympics by setting a new record for the longest javelin throw and winning a gold medal for his country.
His record-breaking 92.97m javelin throw in Paris earned Pakistan its first Olympic medal since the 1992 Barcelona Games and first gold medal since the 1984 Los Angeles Games.
Pakistan reports 17th polio case of this year in Islamabad
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- This is the first human case reported in Pakistan’s federal capital of Islamabad in 16 years
- Pakistan has reported 12 polio cases in Balochistan, three in Sindh and one in Punjab this year
ISLAMABAD: Pakistan has reported another case of polio virus in the federal capital of Islamabad, authorities said on Friday, taking the national tally to 17 this year.
The Regional Reference Laboratory for Polio at the National Institute of Health detected the wild poliovirus type 1 (WPV1) in a child from Union Council Rural 4 of Islamabad, according the country’s polio program.
This is the first human case reported in Islamabad in 16 years, while environmental samples from the capital and neighboring Rawalpindi district have been positive for WPV1 since June, underscoring the persistent threat of polio to children’s well-being.
“It is incredibly heartbreaking that another Pakistan child has been affected by a disease that has no cure, but is entirely preventable with the help of an easily accessible vaccine,” Ayesha Raza Farooq, Prime Minister’s focal person for polio eradication, said in a statement.
In view of the “intense outbreak” of poliovirus in the country, she said, the polio program had held in-depth consultative sessions with the provinces and districts to implement plans to improve all aspects of polio eradication activities, starting from a polio campaign beginning next week.
“From September 9 onwards, polio teams will go house-to-house in 115 districts to vaccinate more than 33 million children under five,” Farooq said. “This virus does not discriminate. Wherever it finds a child with weak immunity, it will attack. Parents must understand the urgency of ensuring that their children receive polio drops and are up to date on their routine immunization.”
Muhammad Anwarul Haq, coordinator of the National Emergency Operations Center for polio eradication, said the polio program was launching this targeted vaccination campaign particularly in districts where the virus had been detected and where the risk of continued transmission and spread was really high.
“We’re ramping up efforts to reach every child with polio vaccines, including in Islamabad,” he said. “We have a collective responsibility to protect the health and wellbeing of our children.”
Haq reiterated that unfortunately, parents had not always welcomed and opened their doors to the vaccinators when they visited their homes.
“I encourage all parents and caregivers to make sure your children are not missed when the vaccinators visit your house next week,” he added.
Pakistan earlier reported 12 polio cases from Balochistan, three from Sindh and one from Punjab this year.