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Eid ul Fitr 2023: Ruet-e-Hilal Committee to convene on April 20

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The Central Ruet-e-Hilal Committee is set to meet on April 20 for the sighting of the Eid ul Fitr crescent moon, a statement from the religious affairs ministry said on Tuesday.

The meeting is set to be held at the religious affairs ministry in Islamabad and will be presided over by Ruet-e-Halal Committee Chairman Maulana Abdul Khabir Azad, the statement said.

The statement further said the meetings of the zonal committees will be held at designated locations across the country.

Ramadan 2023 started on March 23, after much confusion during the meeting for the moonsighting. 

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Business

Pakistan is still classified as a secondary emerging market by the FTSE.

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The nation could perhaps be demoted, according to the worldwide index provider, since its index weight has decreased over the previous few years.

Pakistan’s market capitalization peaked in 2017 at $100 billion, but it fell to $21 billion by 2024, according to a Bloomberg research.

It did, however, state that Pakistan’s standing as a secondary emerging market will remain unchanged due to favorable political changes brought about by the establishment of a stable government.

Bloomberg saw Shehbaz Sharif’s election as prime minister, who is open to reform, as a step in the right direction for the nation struggling financially.

Shehbaz Sharif, the president of the Pakistan Muslim League-Nawaz, was chosen on March 4 to serve as the country’s 24th prime minister.

With 201 votes, PM Shehbaz defeated Omar Ayub Khan of the Sunni Ittehad Council (SIC) by 92 votes.

over the economy, earlier this month, Pakistan and the International Monetary Fund (IMF) came to an agreement at the staff level over the second and last review conducted under Pakistan’s Stand-By Arrangement.

The IMF secured a staff-level agreement with Pakistan on the second and final review of the nation’s stabilization program, which is backed by the IMF’s US$3 billion (SDR2,250 million) SBA authorized, according to the official statement released by an IMF team led by Nathan Porter.

The remaining US$1.1 billion (SDR 828 million) of SBA access will be made available following the IMF Executive Board’s approval of the deal.

It was reported shortly after the February 8 election that the newly elected PML-N-led government intended to apply for a new IMF credit package.

Pakistan is anticipated to pursue a $6–8 billion loan program from the global lender, and the IMF will be contacted right once to begin negotiations for this. The sources went on to say that the IMF would have tighter requirements this time.

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CM Gandapur and Mohsin Naqvi pledge to cooperate in the fight against terrorism.

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To put an end to terrorism in the province, it was resolved during the conference to step up intelligence-based initiatives.

The deaths of the Chinese nationals in the suicide assault in Shangla were regretted by both leaders. Effective counterterrorism measures were directed by the federal interior minister.

He asserted that the enemies’ and miscreants’ despicable acts could not break the resolve of the Pakistani people.

According to Gandapur, the province’s government is committed to doing everything within its power to combat terrorism and safeguard the lives and property of its citizens.

It is important to note that a suicide bomber in KP’s Bisham crashed his car packed with explosives into a caravan of Chinese nationals, killing at least five of them along with their local driver.

A suicide bomber struck one of the coaches in the convoy of twelve cars en route from Islamabad to Dasu Dam in Kohistan with a vehicle carrying explosives.

Six individuals were killed when the targeted vehicle crashed into a deep ditch due to the fire produced by the explosion.

There is a sizable dam at Dasu, and there have been previous attacks there. Thirteen people were murdered in a bus explosion in 2013, and nine of them were Chinese nationals.

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Business

PM Shehbaz Sharif: “A plan to digitize the tax system is underway.”

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In an address to the All Pakistan Newspapers Society delegation in Islamabad today, the prime minister announced that plans were in motion to update the tax collection system.

The prime minister added that efforts are underway to broaden the revenue base and that the Federal Board of Revenue (FBR) is fully digitizing.

He emphasized that the Tax Excellence Awards were a recent initiative by the government to support female entrepreneurs, exporters, and engaged taxpayers.

The government’s priorities, according to the prime minister, are institutional changes, austerity, domestic and external investment, and privatization of government-owned businesses.

Praiseing the media’s contribution to public awareness-raising and good governance, he called on the sector to successfully communicate the benefits of economic stability under SIFC.

Calling fake news a major problem, he emphasized the need for cooperation to combat it. Additionally, he extended an invitation to the press to back Pakistan’s administration in its endeavors for the country’s growth and well-being.

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