PAKISTAN, IMF AGREE ON ‘SOME MATTERS’, AISHA PASHA CLAIMS

Islamabad Shahzad Paracha

MINISTER of State for Finance Dr Aisha

Ghaus Pasha has stated that the Pakistani authorities have reached an understanding with the International Monetary Fund (IMF) on some matters.

While talking to the media outside the Finance ministry, the Minister of State for Finance said that discussions with the IMF are moving in the positive direction.

Government is asking for major relief for common people as our focus is to put on hold the expected increase in electricity tariff for the time being.

She said that the electricity tariff would be decided later on as we cannot increase adding that we would be able to protect the common man but those who can afford will have to pay more now.

The Minister claimed that “we have reached some

Suzuki announces fourth plant shutdown of 2023

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Suzuki had previously halted production in August, September, and October of 2022. It observed NPDs from August 18 to August 19 , from August 22 to August 26, from August 29 to August 31, from September 6 to September 9, from September 19 to September 23, from October 19 to October 21, and October 24 to October 26. However, Suzuki only saw a Month-on-Month (MoM) decline in August where its sales contracted by 41%. Its MoM figures saw increases of 52% and 33% in September and August respectively based on PAMA’s figures. PAMA’s figures do depict Year-on-Year (YoY) sales decreases in the aforementioned three months of 2022 where Suzuki saw declines of 67%, 46%, and 22% respectively. These decreases, however, are visible even in those months where Suzuki did not observe NPDs. The YoY declines are a characteristic of the entire automotive industry this fiscal year, with those companies not observing NPDs also falling prey to it. February’s round of NPDs will be interesting as they come nearly a month after Suzuki announced an increase in prices across its entire portfolio, with its most affordable car now at the Rs 2 million mark.

Financial inclusion in Pakistan increases to 30%

CONTINUED FORM BACK PAGE understanding and clearance from the prime minister level has also been given on some things”.

By region, Islamabad Capital Territory (ICT) recorded the highest level of financial inclusion at 45%, followed by Gilgit Baltistan at 35% and Azad Jammu & Kashmir at 34%. Looking at the division by gender, male registration accounted for the bulk of financial account registrations in 2022 with 47% having at least one registered financial account. Comparatively, only 13% of women are recorded to have at least one registered financial account. Although women’s percentage accounts for less than half of their male counterparts, the financial account registration for women has reached double digits for the first time. Overall, the largest increase was seen in mobile money wallet users, as active usage increased from 8% in 2020 to 16% in 2022. Active usage also saw an increase in bank account holders, indicating an increase from 12% in 2020 to 14% in 2022. Addressing the webinar held by Karandaaz Pakistan on February 7, 2023, Noor Ahmed, Director of the Agri Finance and Financial Inclusion Department of the State Bank of Pakistan (SBP) said, “Over the years, there has been significant progress on financial inclusion. Key initiatives such as RAAST have been transformative in furthering the inclusion of the marginalised.” Karandaaz Pakistan is a not-for-profit specialpurpose vehicle set up under Section 42 in August 2014. The company is the implementation partner of the Enterprise and Asset Growth Programme (EAGR) and Sustainable Energy and Economic Development (SEED) programme of the UK’s Foreign, Commonwealth & Development Office (FCDO).

She said that the IMF wants more clearance on some issues and Pakistani authorities would satisfy them to reach an agreement.

On the first day of policy level talks, Governor SBP said to have briefed the IMF on external financing before hosting a dinner for the IMF mission.

Sources added that the high-ups from both sides informally held discussions on policy-level topics including the budget deficit, external financing and other key issues.

Sources said that during the technical level talks, the IMF said to have expressed disappointment over the performance of the power sector and wanted withdrawal of Rs 100 billion subsidy provided to the export oriented sector and sought imposition of one percent in general sales tax across the board.

The Fund was not satisfied with the circular debt management plan provided by the government to reduce

Muree Police granted daylong transit-remand: Sh Rashid files another plea for post-arrest bail

the power sector circular debt of Rs 952 billion. The government said to have placed on the table a one off flood levy to mobilize around Rs 180 billion and did not dismiss the possibility of substantial slash in the public sector development program (PSDP) to limit the fiscal deficit.

Historic initiatives taken for rehab, welfare of police ghazis: IGP

Punjab Inspector General Police Dr Usman Anwar on Wednesday described the Punjab Police as a family and he as “its chieftain”, saying care and welfare of every member of “this family” is his foremost priority.

The IG Police said his office has taken historic steps to address financial difficulties and problems of police Ghazis and employees who got disabled due to accidents in service and directed the RPOs, DPOs and unit heads to finalize welfare cases of martyrs, Ghazis, serving and retired employees by the month of February. He reiterated that there should be no delay in completion of cases and sending the recommendations to the Central Police Office for release of fund.

Punjab IG Police Dr Usman Anwar expressed the views while distributing cheques of relief funds under welfare package to the Ghazis of Lahore Police at the Central Police Office here.

Dr Usman said that meeting anything in the line of duty to protect people’s life and property and eradicate anti-social elements were a pride. He said that under the new special welfare package, artificial limbs, electric wheelchairs and beds are being provided to these Ghazis, disabled and sick. Dr Usman Anwar directed that the welfare branch should ensure that the final salary, pension, dowry fund, medical aid, funeral dues, educational scholarships of the martyrs, Ghazis, serving and retired employees of the Punjab Police are paid by the end of February and there should be no pending case of any category of welfare.

According to details, the IGP distributed relief cheques worth Rs3.2 million to Lahore police Ghazis who were disabled in bomb blasts, fighting with dacoits and accidents during duty. Constable Asif Ali was given Rs0.6 million cheque for his lower body paralysis. Similarly, constables Tariq Mehmood, Faisal Farooq and Naseem Khalid were given relief cheques of three and a half lakh rupees each. Likewise, Rs350,000 each were given to Ghazis of incidents of bomb blasts namely Head Constable Asif Ali , Constable Rizwan Ali , constable Muhammad Rizwan.

ASI Muhammad Fazal was given Rs250,000 while Head Constable Sarfraz Ahmed and Constable Jawad Hussain were given cheques of Rs150,000 each.

IG Punjab directed that the welfare branch should finalize all the future applications of martyrs, Ghazis, serving and retired employees within the stipulated deadline. In this regard, RPOs, DPOs and unit heads should also take decisions on the welfare of martyrs and Ghazis in their districts on priority basis. IG Punjab emphasized that supervisory officers should not spare any effort in solving their problems by keeping close contact with the Ghazis and families of martyrs. Additional IG Welfare Riaz Nazir Gara, DIG IT, Ahsan Younis and DIG Welfare Ghazi Salahuddin and other officers were also present on this occasion.

PTI’s Shandana Gulzar moves IHC for disposal of sedition case

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) leader and former MNA Shandana Gulzar Khan moved the Islamabad High Court (IHC) seeking disposal of a sedition case against her. Justice Mohsin Akhtar Kayani will hear the petition wherein Ms Khan pleaded the high court to dispose of the case registered at the women police station in Islamabad. She has made the federal government, IG

Islamabad police and SHO of the police station respondents in the case.

Earlier this month, the PTI leader was booked over “provocative remarks” against state institutions. The case against her was lodged under sections 153-A (promoting enmity between different groups), 124-A (sedition), and 505 (statements conducive to public mischief) of the Pakistan Penal Code. STAFF REPORT