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MQM-P decides not to join federal cabinet

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  • MQM-P convener says party is more interested in getting commitments made by coalition partners fulfilled.
  • Party wants to extend its support to broad-based government from outside.
  • Refrains from commenting on Akhtar’s remarks expressing displeasure over no mention of commitments by Shehbaz.

ISLAMABAD: Amid consultations over the formation of a new federal cabinet in the Prime Minister Shehbaz Sharif-led regime, MQM-P has decided not to be part of it, The News reported.

Instead, the party wants to extend its support to the broad-based government from the outside.

With the decision already conveyed to the prime minister, MQM-P convener Dr Khalid Maqbool Siddiqui said his party had discussed the formation of the new cabinet with the leaders of coalition partners in detail.

He said the MQM-P is more interested in the implementation of the commitments made by the coalition partners for the well-being of Karachi and other areas of the province.

“The commitments are significant, which need to be fulfilled,” Siddiqui said.

However, the politician did not comment on former Karachi mayor Wasim Akhtar’s remarks where he took exception to Prime Minister Shehbaz Sharif for not mentioning commitments with the MQM-P in his maiden speech as the premier in the National Assembly.

The MQM-P had two slots of the federal cabinet in the ousted government of the PTI. Syed Aminul Haque was IT minister while Senator Farogh Nasim was the law minister, representing the MQM-P in the government. 

Sources said the MQM-P was offered two slots in the federal government, Sindh’s governorship and about half a dozen slots in the Sindh cabinet beside municipal charge of three big cities of the province including Karachi mayorship but no decision has yet been taken about assuming these assignments. 

PM Shehbaz consults coalition partners over cabinet formation

Prime Minister Shehbaz Sharif is in consultation with the leaders of the coalition parties over the formation of his cabinet.

However, sources privy to the matter said that PPP is unwilling to be a part of the cabinet, saying that it would support the government from the treasury benches in a better way.

According to the sources, one group within the party favours the idea of joining the cabinet to strengthen the coalition, while the other group is of the view that the party should instead focus on electoral reforms for early election.

However, the final decision will be made as per the top leadership’s will in a few days.

Sources said the PPP was more interested in the constitutional offices of the parliament and it would join the cabinet in the second phase. There is a consensus in the party on taking over the office of the National Assembly speaker with Raja Pervez Ashraf and Syed Naveed Qamar as its candidates.

They claimed that Ashraf was a strong contender, while Maulana Asad Mehmood of the JUI-F, the son of Maulana Fazlur Rehman, could be the deputy speaker.

Business

Moody’s says the IMF programme will increase Pakistan’s foreign financing.

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Moody’s, a reputable international rating agency, has stated that Pakistan’s chances of acquiring funding will increase as a result of the recent agreement with the International Monetary Fund (IMF), which offers dependable sources for that purpose from both friendly countries and international financial institutions.

According to a recent Moody’s analysis on Pakistan’s economy, social unrest and tensions could result from Pakistan’s ongoing inflation. The country’s economic reforms may be hampered by increased taxes and potential changes to the energy tariff, it continued.

Moody’s, on the other hand, agrees that the coalition government headed by Shehbaz Sharif of the PML-N is in danger of failing to secure an election mandate, which may potentially undermine the successful and long-lasting execution of economic reforms.

The government’s capacity to proceed with economic changes may be hampered by societal unrest and poor governance, according to Moody’s.

In order to appease the IMF by fulfilling a prerequisite for authorising a rescue package, the government raised the basic tariff on electricity, which coincided with the most recent increase in fuel prices announced on Monday. This report was released by Moody’s.

Food costs have increased in the nation, where the vast majority is experiencing an unprecedented crisis due to the high cost of living, following the government’s earlier presentation of a budget that included a large increase in income tax for the salaried classes and the implementation of GST on commodities like milk.

The most recent comments were made following Islamabad’s achievement of a staff-level agreement for a $7 billion contract that spans 37 months and is contingent upon final approval by the IMF Executive Board.

It states that Pakistan will need foreign financing totaling about $21 billion in 2024–2025 and $23 billion in 2025–2026, meaning that the country’s present $9.4 billion in reserves won’t be sufficient to cover its needs.

Therefore, according to Moody’s, Pakistan is in an alarming position with regard to its external debt, and the next three to five years will be extremely difficult for the formulation and implementation of policies.

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Base Of bilateral relations: China And Pakistan Reiterate Their Support For CPEC

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China-Pakistan economic corridor is a major project of the Belt and Road Initiative, and both countries have reiterated their commitment to it. It remains a fundamental aspect of their bilateral relations.

Vice Chairman Zhao Chenxin of the National Development and Reform Commission of China and Minister Ahsan Iqbal of Planning and Development met in Beijing, where Ahsan Iqbal made this assurance.

The summit made clear how committed China and Pakistan are to advancing their strategic cooperative partnership in all weather conditions.

The focus of the discussion was on how the CPEC was going, with both parties reviewing project development and discussing how the agreement made at the leadership level will lead to the launch of an enhanced version of the CPEC.

In order to improve trade, connectivity, and socioeconomic growth in the area, they emphasised the need of CPEC projects.

The Ml-I Project, the KKH realignment, and the Sukkur-Hyderabad motorway—the last remaining segment of the Karachi-Peshawar motorway network—were all to be expedited.

Expanding the partnership’s horizons to include technology, innovation, education, connectivity, and renewable energy sources was another topic of discussion.

Specifically in the special economic zones being built under the Comprehensive Economic Cooperation (CPEX), Vice Chairman NDRC emphasised the possibility of China investing more in Pakistan.

In addition to expressing confidence in the ongoing success of the two nations’ collaboration, Zhao Chenxin reiterated China’s support for Pakistan’s development aspirations.

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9th Muharram: Processions Happen Throughout the Nation Today Under Strict Security

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Nineth Muharram: Today, the nation observes the ninth day of Muharram with the appropriate seriousness and respect, honouring the ultimate sacrifice made by Hazrat Imam Hussain (RA) and his followers.

In addition to Tazia and Alam processions being held in certain cities, Majalis will take place in all major and minor cities.

A thorough traffic and security strategy for the ninth day of Ramadan has been finalised by the Islamabad police.

Starting from the Imambargah at G/6-2, the main 9 Muharram al haram procession will travel a predetermined itinerary before ending back at its starting position.

The traffic measures are in place to guarantee the parade proceeds smoothly. General traffic will not be allowed on the route that runs from Fazal Haq Road, Polyclinic, to Kulsoom Plaza.
Today, amid strict security, there are processions across the nation.

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