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The PPP promises the government will support the budget vote.

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Insiders state that the PPP will support the budget despite expressing reservations about it.

As previously stated, the party leaders had not yet decided whether to support or oppose the federal budget that the administration will be announcing today.

Leading figures have reportedly reached a resolution over the dispute between two parties that are allies.

In order to have the budget approved, the People’s Party will give the PML-N its whole support. Sources stated that the PPP would back the budget’s adoption “in spite of protests and speeches in committee.”

The administration promised the PPP that some of its recommendations would be included in the budget, according to sources. Voting supporting the PML-N budget is a quid pro quo commitment made by the PPP leadership.

For assistance in passing the budget, the PML-N had asked the PPP.

The PPP has not yet decided whether to accept or oppose the budget, according to PPP leader Nayya Bukhari.

The forthcoming yearly budget for 2024–25 and the state of the nation’s economy as a whole were the topics of Prime Minister Shehbaz Sharif and President Asif Ali Zardari’s Tuesday meeting.

The meeting was also attended by Professor Ahsan Iqbal, the Federal Minister for Planning and Special Initiatives, a press statement from the President’s House stated.

The protection of low-income and middle-class interests in the annual budget is a priority, as highlighted by President Zardari. Along with pledging his support for fiscal benchmarks to be met, he also gave the prime minister assurances on national development.

The next budget’s proposed development projects were also discussed by President Zardari and Prime Minister Shehbaz. He told the president about his recent five-day travel to China, the prime minister said.

On June 12th, or today, the federal government will unveil its budget for the fiscal year 2024–25.

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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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Accepting provisional respite: Sanam Javed and family relocated to KP House

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Sanam Javed, the leader of the Pakistan Tehreek-e-Insaf (PTI), and her family have moved into KP Home, an Islamabad guest home.

As a result of the Islamabad High Court’s order to postpone her arrest until Thursday, Sanam Javeed is currently free.

Records of cases filed against her have also been sought by the court.

As instructed by Chief Minister Ali Amin Gandapur of KPK, the PTI leader and her family were received at the KP House. The CM communicated with Ms. Javeed’s father and husband.

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Adiala Jail is visited by a NAB team to question Khan and Bushra Bibi.

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As per a recent Toshakhana reference, a team from the National Accountability Bureau (NAB) has reached Adiala Jail with the intention of probing PTI founder Imran Khan and his spouse PTI Bibi.

The NAB team questioning Khan and Bushra Bibi is led by deputy director Mohsin Haroon, according to jail sources.

Regarding the latest corruption reference, the pair is behind bars. Today is the third day that the NAB team has been looking into them.

They answered questions from the NAB team for more than three hours on Monday.

After the fresh reference, Khan and Bushra Bibi were placed under physical remand for eight days by Judge Muhammad Ali Warraich of the Accountability Court.

See Also: Imran Khan and Bushra Bibi are detained in NAB prison for eight days in connection with the Toshakhana case

The release of Khan and Bushra Bibi in the Iddat case was earlier ordered by District and Sessions Judge Afzal Majoka, who also postponed their sentences.

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