Epaper – April 25-2022 KHI

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Monday, 25 April, 2022 I 23 Ramzan, 1443 I Rs 15.00 I Vol XII No 297 I 12 Pages I Karachi Edition

Govt asks for proGram extension, fund asks to roll back fuel subsidies g

TECHNICAL TALKS TO BEGIN NExT WEEK, GOVT AIMS FOR AGREEMENT By MID MAy

isLamabad

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KhurrAm husAin

HE government has asked the International Monetary Fund for a one year extension of the ongoing program, as well as an enhancement of the remaining financing. According to sources who were part of the government delegation in Washington DC, the fund has agreed “in principle”. For its part, the IMF has asked for a removal of the fuel price caps im-

posed by the former government. “Technical level talks will begin next week” says a source in the delegation. “IMF will send a mission to Pakistan in mid May to conclude a staff level agreement.” The fuel subsidies have to be withdrawn “as soon as possible” and the fund has also asked to see how large the deviation between the fiscal year 2022 numbers will be from the targets set in December. “They want us to minimise the deviation and make up for some of the subsidy and deviation” the

France’s Macron beats Le Pen to win second term paris

source tells Profit. As the per last staff level agreement, the overall fiscal deficit was programmed to come in at Rs 2.917 trillion. But due to slippages along the way the projection in the same document showed it coming in at Rs3.761 trillion instead. Finance minister Miftah Ismael has said this figure is likely to be closer to Rs6.4 trillion if present course is maintained. Rectifying these numbers and bringing them closer to the programmed targets now implies a very large adjustment in the form of higher taxes and sharply reduced expenditures in the next three months. The budget is also likely to contain severe austerity measures. The fund also wants to see the overall budget strategy for next year. This suggests the budget is likely to be presented earlier than usual, most likely by middle of May to conclude the staff level agreement. “They have agreed in principle to extend the program for a year” the source says, adding the request for this came from the government side. “They have also agreed to enhance the amount” the source said, adding modalities still need to be worked out. The program at present is set to conclude by September of this year. Two reviews were scheduled, one in March and the last in June but the schedule has been thrown off after the last review stalled under the previous government due to the surprise announcement of fuel price caps. The remaining amount to be disbursed at present is $1.55 billion.

Compromising neutrality of office, CEC Raja refuses to step down isLamabad stAff rePort

A day after former prime minister Imran Khan called for his resignation over charges of bias, the chief election commissioner (CEC) said he had no intention of stepping down and would continue to work in the “best interest of the country”, potentially compromising the neutrality of his fateful office. Since his appointment to the office in January 2020, Sikandar Sultan Raja — who is the son-in-law of Saeed Mehdi, former principal secretary to Khan’s disgraced predecessor Nawaz Sharif — has been at the helm of a series of decisions against the Pakistan Tehreek-i-Insaf (PTI) party, the party insists. On Saturday, in his first press conference after leaving office, Khan said his party did not trust Raja because all his decisions were against the PTI. Responding to the presser, Raja said he had “no intention of tendering my resignation,” before adding that there was no valid reason to “think like that”. “I am working in the best interest of the country and shall continue to do so.”

Loadshedding continues nationwide as electricity shortfall reaches 5,500 MW LaHOrE

Agencies

French President Emmanuel Macron defeated his far-right rival Marine Le Pen on Sunday by a comfortable margin, early projections by pollsters showed, securing a second term and heading off what would have been a political earthquake. The first projections showed Macron securing around 57-58% of the vote. Such estimates are normally accurate but may be fine-tuned as official results come in from around the country. Cheers of joy erupted as the results appeared on a giant screen at the Champ de Mars park at the foot of the Eiffel tower, where Macron supporters waved French and EU flags. People hugged each other and chanted “Macron”. In contrast, a gathering of dejected Le Pen supporters erupted in boos and whistles as they heard the news at a sprawling reception hall on the outskirts of Paris. Macron can expect little to no grace period after many, especially on the left only voted for him reluctantly to block the farright from winning. Protests that marred part of his first mandate could erupt again quite quickly, as he tries to press on with pro-business reforms. “There will be continuity in government policy because the president has been reelected. But we have also heard the French people’s message,” Health Minister Olivier Veran told BFM TV. A first major challenge will be the parliamentary elections.

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inP

The electricity shortfall in the country has gone upto 5,500 megawatts (MW) resulting in power outages of upto six hours in urban centres and eight hours in rural areas. According to sources in the power division, the overall electricity produced in the country stands at 15,500 MW against the demand of 21,000 MW, causing a shortfall of 5,500 MW. “The power crisis has emerged owing to delay in purchase of furnace oil and RLNG,” they said adding, after failure to get required fuel, the production of power generation companies has gone below par. A previous report highlighted that Lahore Electricity Supply Company Limited (LESCO) is facing a shortage of 1000mw as the demand is 4,100mw and the available power is 3,100mw. Currently, 610mw Engro Power Plant in Thar, Port

In an informal conversation with journalists last week, Khan said that Raja’s name for the office was proposed by the military establishment following a deadlock between the then government and the opposition. Before Khan, Azam Swati, a senior PTI leader, too had suggested Khan’s government had to swallow a “bitter pill” on Raja’s appointment. In his last week’s conversation with journalists, the former prime minister had also said the PTI would file a reference against Raja as the Election Commission of Pakistan (ECP) had displayed “incompetence” by not completing the delimitation of constituencies on time thereby delaying early elections.

more inside

Ahsan Iqbal says ‘Imran is playing with Pakistan’s interests to keep his politics alive’ STORY ON PAGE 02

Qureshi sees plot in 2018 Punjab Assembly seat defeat STORY ON PAGE 03

Qasim’s power plant with a capacity of 310 are closed. Nuclear K2, K3, Chasnob, Liberty Power Plant, Guddu Power Plant are also facing shortages and not producing power at their full capacity. Ahead of Ramazan 2022, the Power Division has decided zero loadshedding on special timings of Sehri, Iftar and Taraweeh prayer across the country.

Sources said that the Power Division has sought details of demand and supply from all power distribution companies to formulate a strategy for zero load-shedding during the special hours of Ramazan 2022.

A landmine left behind? EDITORIAL ON PAGE 06

PTI to stage protest demos outside ECP offices tomorrow STORY ON BACK PAGE

PML-N plan to bring contempt plea against president hits snag STORY ON BACK PAGE


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