Sunday, 29 May, 2022 I 27 Shawwal, 1443 I Rs 15.00 I Vol XII No 329 I 12 Pages I Lahore Edition
deal with iMF next Month, claiMs MiFtah g
g Programme to oPen ways says we exPect around $5b under for getting funds from extended fund facility other organizations
ISLAMABAD
M
Staff RepoRt
inister for finance and revenue, miftah ismail here on saturday said that the staff level agreement with international monetary fund would be signed next month. addressing a press conference here on saturday, he said that the funds under the extended
fund facility (eff) would be released after final approval by the imf board. the minister was flanked by minister of state for finance, ayesha ghous Pasha. miftah said that the fund, which had to provide $3 billion, has been requested to extend the program by one year and provide additional $2 billion, adding accordingly the country expects around $5 billion from the fund. he said, that the programme
with imf was not important just because the country gets money from the fund rather, it is important because it opens ways for getting funds from other multilateral organization like word Bank and asian development Bank. he said, once unlocked by imf, Pakistan would get money from multilateral organization adding that around $8.9 billion were already in pipeline from world Bank. the minister justified increase in petrol prices, saying that no doubt it would increase inflation but if the increase had not been done, it would lead to more inflation as the burden would fall on the government and resultantly more devaluation of rupee. he said, after increasing the prices of petrol, not only rupee was strengthened against dollar by around 2.5 but stock market also moved positively adding that it would also have positive impact on banks, Kibor would also reduce and mitigate the liquidity pressure faced by government. the minister said, the government intended to provide relief to the poor against the inflationary pressure which was created due to inability of the previous government. he said the government would try its best to provide maximum relief to the poor of the country. giving details about the Pm relief package, the minister said ‘sasta Petrol and sasta diesel’ scheme would benefit around one third population of the country by providing cash to 14 million households (84,000,000 people).
Raised oil prices with a heavy heart: PM Shehbaz LAHORE app
Prime minister muhammad shehbaz sharif saturday said that the incumbent government had increased the petroleum prices with a heavy heart. the prime minister, talking to the media after he appeared before a special court here, said under a package he announced on friday night, the government had allocated rs 28 billion a month to provide relief to the inflation-hit people. he said under the package, rs 2,000 each would be disbursed among the 125 million entitled families as subsidy on petrol. he told media that the inflation had adversely impacted the masses, making the poor people suffer. the prime minister told the media that the people even could not afford one-time meal, medical treatment, besides having no businesses or jobs. he said the country was witnessing skyrocketing inflation. to another question regarding the yaum-e-takbir being observed on the day to commemorate the nuclear tests of may 28, 1998, the prime minister said that the then Prime minister nawaz sharif took a bold stance, refusing to bow before the foreign pressure and rejecting $5 billion offer, for sake of the country’s interests. meanwhile, the Prime minister also reiterated his resolve to transform Pakistan into ‘an economic power’. on his twitter handle, the prime minister referring to youm-e-takbir, being celebrated
Justice Baqar frontrunner for NAB Chairman’s slot
more inside
ECP to take up PML-N plea for nominations on PA reserved seats
ISLAMABAD Staff RepoRt
federal government is mulling a proposal to appoint former judge of supreme court, Justice (r) maqbool Baqar, as chairman of the national accountability Bureau’s (naB). an official told this scribe requesting anonymity that the retired apex court judge was being considered along with another retired Justice (retd) dost muhammad Khan for the slot. senior bureaucrats – both serving and retired – had earlier proposed to Prime minister shehbaz sharif to reform the naB law with a view to avoiding alleged intimidation and humiliation at the hands of the anti-graft body. the bureaucracy has been airing grievances with the past governments in what they call ‘harassment’ and ‘threatening’ attitude of naB due to which the civil servants are reluctant to sign official files. Justice Baqar, who retired from his post on april 4, is considered to be an independent judge while his critics say he has a leaning towards the ruling Pml-n. another source in the ruling party told that the leaders of the ruling coalition have agreed on the name of retired Justice maqbool Baqar as the new chairman of naB. the source said the name of the former supreme court judge also came under discussion during an interaction between representatives from Pakistan tehreek-e-insaf (Pti) and Pakistan Peoples Party (PPP). the government believes national assembly opposition leader raja riaz ahmad will also support the pick as Baqar’s career as a judge was spotless.
across the country today, said in 1998, the then prime minister muhammad nawaz sharif in a bold show of leadership rejected all the pressures and inducements and made Pakistan a nuclear power. “today in 1998, Pm nawaz sharif rejected pressures and inducements in a bold show of leadership; made Pakistan nuclear power of the world. now we are resolved to turn it into an economic power. my gratitude to all those who helped make our defense invincible. youm-e-takbir mubarak,” he said in a tweet. Prime minister shehbaz sharif saturday directed to resolve issues faced by the chinese companies on priority basis. he passed the orders while chairing a review meeting regarding investment of chinese companies. he instructed that security of the employees of the chinese companies should be made more effective. the Pm said all facilities should be provided for reviving the projects undertaken with bilateral investment of Pakistani and chinese companies. minister for Planning and development ahsan iqbal, minister for Power Khurram dastgir, minister for Board of investment chaudhry salik hussain, special assistant to Prime minister tariq fatimi, secretaries of interior, finance, foreign affairs, board of investment, petroleum, power, information technology, railways and other senior officials attended the meeting. minister for Planning and development ahsan iqbal briefed about the multidimensional relations of Pakistan and china and available investment opportunities.
STORY ON PAGE 02
fca of march: Karachiites to bear rs7,862mn in June 2022 STORY ON PAGE 03
the prime minister’s office is hopeful if all goes smoothly, Baqar will be the new head of the antigraft watchdog. while Baqar’s nomination enjoys unanimous support from the superior bars, senior lawyers fear that powerful circles and a section within the judiciary may resist his appointment. it is also believed that the former ruling party, the Pakistan tehreek-e-insaaf (Pti), may also object to the appointment. however, a lawyer who is part of Pti said that Justice Baqar has a “very good reputation and is the best candidate for the post”. Previously, Justice Baqar was amongst those judges who gave a judgment in favour of Justice
Qazi faez isa’s case regarding undocumented assets. Justice Baqar was also responsible for granting bail to Pakistan muslim league-nawaz’s (Pmln) leader Khwaja saad rafiq. the case against the leader had raised serious questions about the anti-graft body’s conduct. “accountability laws have been successfully used to change political loyalties,” remarked Justice Baqar in his judgment while granting the leader bail. as the coalition government came into power after ousting former premier imran Khan, Prime minister shehbaz sharif assured senior bureaucrats that a revamp of naB was on the cards.
PM Shehbaz felicitates newlyelected officials of CPNE STORY ON BACK PAGE
Pm stresses unity to achieve economic sovereignty STORY ON BACK PAGE