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Ishaq Dar is guiding government in managing economic crisis: Rana Sanaullah

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  • Sanaullah says PTI govt signed a deal with IMF which was not in favour of Pakistan.
  • He says Dar aware of situation Pakistan currently facing at economic forefront.
  • He says PTI-led government “ruined economy” and it was now difficult to manage it.

ISLAMABAD: Interior Minister Rana Sanaullah Tuesday said that the incumbent government was seeking guidance from PML-N’s “financial guru” Ishaq Dar to manage the ongoing economic crisis.

Speaking to Geo News’ programme  “Geo Pakistan”, the interior minister said that Dar was aware of the situation Pakistan was currently facing at the economic forefront. 

During the initial days of the coalition government, Dar, who is based in London along with PML-N supremo Nawaz Sharif, was very active and regularly appeared on TV shows, giving his input on the economy which sparked a debate about who was heading the finance ministry — Miftah Ismail or Dar.

The country is facing a crisis amid a delay in the revival of the International Monetary Fund’s (IMF) $6 billion loan facility stalled due to policy breaches by the previous government.

Sanaullah said that the PTI government signed a deal with the IMF which was not in favour of Pakistan.

“They [the PTI-led government] agreed to remove all sorts of subsidies despite the fact that the financial condition of our people was not such that they could tolerate more financial burden. They promised zero subsidies on petrol with IMF.”

He said that the incumbent government was reviving the same agreement which the PTI signed with the lender, adding that the PTI-led government “ruined the economy” and it was now difficult to manage it.

“They used to criticise Dar for controlling the dollar rate and when the PTI government came to power it shot up to Rs190 from Rs115. During our two-month tenure, it has ascended further,” the interior minister said.

The minister added that the IMF was not ready to show any flexibility and the dollar rate was increasing due to the delay in the agreement.

“We told the IMF to allow us to remove subsidies in phases but it refused. We will bring down the dollar to 182 after the loan programme is restored,” he claimed. 

On the PTI’s countrywide protest call on Sunday against inflation, Sanaullah maintained that the masses are keeping themselves away from the protest.

“Last time, from among a population of 220 million, only 10,000 to 12,000 responded to Khan’s call,” he said. 

The minister asked the PTI to admit its mistake and sit with the government to talk about an economic pact. 

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Minutes after taking off from Lahore airport, a private airline plane was “hit by a bird.”

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Details show that an aircraft from Lahore to Karachi took off from the airport in Lahore, but it made a problematic landing a few seconds later.

The aircraft carrying 180 passengers was successfully landed at the Lahore airport by the pilot. They have moved the passengers of the impacted flight to the airport lounge.

Bird strikes on aircraft have been documented occasionally at the nation’s airports, yet the problem persists in spite of the CAA’s assertions.

In the first 11 months of 2022, birds struck at least 57 Pakistan International Airlines (PIA) aircraft.

Details indicate that PIA published a report on aircraft struck by birds in 2022.

53 bird-hit instances were documented between January and October, and four incidents were logged in November, the study states. The airport in Lahore International was the site of most of the incidents.

According to the research, five of the 57 PIA aircraft were damaged in 2022 due to bird collisions, but the aircraft were spared significant damage in 59 instances.

In addition, the birds struck twelve PIA planes during approach, eight during takeoff, and 21 after landing.

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Deputy Prime Minister to Represent Pakistan at CHOGM in Samoa in 2024

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Senator Muhammad Ishaq Dar, the deputy prime minister and foreign minister, will lead Pakistan’s delegation to the Commonwealth Heads of Government meeting in Samoa.

Pakistan’s views on major global issues and concerns will be discussed at the conference by the Deputy Prime Minister, who will concentrate on climate change, economic growth, and enhancing international collaboration within the Commonwealth.

His keynote speech at the Commonwealth Business Forum on “Transforming Our Workforce” will focus on Pakistan’s focus on digital transformation, skill development, and youth empowerment.

He will converse with the heads of delegation from other Commonwealth nations as well.

Mumtaz Zahra Baloch, the spokesperson for the Foreign Office, said in a statement that Pakistan’s attendance at CHOGM 2024 is a reflection of its ongoing dedication to the Commonwealth and its ties with tiny island pacific nations.

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China Contributes 43 New Foreign Firms to the 6% Growth in SECP Registrations

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The Securities and Exchange Commission of Pakistan has registered 2,617 new firms this year, a 6% increase from 2023, with assistance from the Special Investment Facilitation Council. This increases the overall number of businesses that are registered to 231,111.

Non-profits, trade associations, and public unlisted firms make up 4% of these, while private limited corporations make up 55% and single-member companies 41%. It is noteworthy that 99.8% of the registrations were done online, demonstrating SECP’s attempts to digitise.

Real estate has 237 new businesses, services has 306, and trade has 377 new businesses. These are the main sectors exhibiting growth. While the healthcare and textile industries each had 49 new businesses, the education sector saw 101.

China contributed the most, adding 43 new companies, out of the 61 new companies that were registered as a result of foreign investment.

These recently registered businesses are anticipated to decrease imports, increase domestic production, and contribute to closing the trade deficit.

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