Pakistan’s finance ministry forecasts July inflation of 12 percent to 13 percent

Pakistan’s finance ministry forecasts July inflation of 12 percent to 13 percent
A tea seller waits for customers at his shop in a market in Rawalpindi on June 1, 2023. (AFP/File)
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Updated 30 July 2024
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Pakistan’s finance ministry forecasts July inflation of 12 percent to 13 percent

Pakistan’s finance ministry forecasts July inflation of 12 percent to 13 percent
  • Central bank cut rates this week for the second time in a row as previously surging inflation was tempered
  • Government had also cut fiscal deficit to 4.9 percent of GDP between July 2023 and May 2024, down from 5.5 percent last year

ISLAMABAD: Pakistan’s finance ministry expects inflation in July to range between 12 percent and 13 percent, easing further in August to stand between 11.0 percent and 12.0 percent, it said in a monthly economic outlook released on Tuesday.
Inflation figures likely to be released on Thursday by the statistics agency are closely watched by the central bank, which cut rates this week for the second time in a row as previously surging inflation was tempered.
The government had also cut the fiscal deficit to 4.9 percent of GDP between July 2023 and May 2024, the ministry said in its report, down from 5.5 percent last year.
Pakistan struck a deal this month with the International Monetary Fund for a $7-billion-loan program that includes tough measures such as higher tax on farm incomes and electricity prices.
This prospect has aroused concern among poor and middle class Pakistanis contending with the threat of further inflation and higher taxes.
Inflation has slowed in recent months after hitting more than 30 percent in 2023. Pakistan’s consumer price index (CPI) rose 12.6 percent in June on the year.
But pressure continues and one Islamist party has held protests in recent days and threatened sit-ins in major cities if the government does not tackle rising prices.


Sindh reports two new polio cases as Pakistan virus crisis deepens

Sindh reports two new polio cases as Pakistan virus crisis deepens
Updated 27 min 7 sec ago
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Sindh reports two new polio cases as Pakistan virus crisis deepens

Sindh reports two new polio cases as Pakistan virus crisis deepens
  • The new cases surfaced in Sindh’s Sanghar and Mirpur Khas districts, taking nationwide count to 39
  • Pakistan will launch a polio vaccination campaign from Oct. 28 to vaccinate over 45 million children

ISLAMABAD: Pakistan’s southern Sindh province has reported two more polio cases, authorities said late Saturday, amid a worsening outbreak of the virus in the South Asian country.
A reference laboratory at the National Institute of Health in Islamabad confirmed the wild poliovirus type-1 (WPV1) cases in a girl child in Sindh’s Sanghar district and a boy child in the Mirpur Khas district, according to the Pakistani polio program.
The fresh cases have taken the nationwide tally to 39 this year.
“These are the first polio cases from Mirpur Khas and Sanghar this year,” the program said in a statement. “Sanghar shares a border with Mirpur Khas from where several environmental samples have tested positive for WPV1 since April, indicating virus circulation in this area.”
Health officials have confirmed 20 polio cases in Balochistan, 12 in Sindh, five in Khyber Pakhtunkhwa (KP), and one each in Punjab and Islamabad so far this year, according to the statement. Genetic sequencing of the cases is underway.
There is no cure for polio, and paralysis caused by an infection is irreversible.
“The intense virus transmission and increase in polio cases is indicative of the harm that children suffer when they miss opportunities for vaccination,” it read.
The Pakistan polio program said it will be launching a nationwide vaccination campaign from October 28 to vaccinate more than 45 million children under the age of five against paralytic polio.
“It is critical for parents to open their door to vaccinators during this drive and ensure that all children in their care receive two drops of the crucial oral polio vaccine to keep them protected from the devastating effects of polio,” it added.
Pakistan and Afghanistan are the only two countries where polio remains an endemic. Since late 2018, Pakistan has seen a resurgence of cases and increased spread of poliovirus, highlighting the fragility of gains achieved in the preceding three years.


Pakistan’s Senate passes constitutional amendment bill capping top judge’s tenure at three years

Pakistan’s Senate passes constitutional amendment bill capping top judge’s tenure at three years
Updated 20 October 2024
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Pakistan’s Senate passes constitutional amendment bill capping top judge’s tenure at three years

Pakistan’s Senate passes constitutional amendment bill capping top judge’s tenure at three years
  • The bill allows for the establishment of constitutional courts, appointment of chief justice by parliamentary committee
  • Sixty-five senators voted in favor of the bill, while four members of the House opposed it, Senate chairman announced

ISLAMABAD: The Senate of Pakistan on Sunday approved all 22 clauses of the 26th Constitutional Amendment Bill, 2024, capping the tenure of the country’s top judge at three years among other changes.
Sharif’s administration has been attempting to introduce a set of constitutional changes in parliament since last month which the country’s opposition and legal fraternity argue are aimed at granting more power to the executive in making judicial appointments. The government denies this.
The appointment of the chief justice of Pakistan will be made by a 12-member parliamentary committee for a period of three years, according to the draft amendment. The top judge will retire upon reaching the age of 65 years.
Law Minister Azam Nazeer Tarar tabled the bill in the Senate, according to which a constitutional bench will be established within the Supreme Court, while constitutional benches could also be established in provinces.
“Sixty-five members are in favor of the motion regarding passage of the bill and four members are against it,” Senate Chairman Yousuf Raza Gilani said, announcing results of voting on the bill.
“So, the motion is carried by the votes of not less than two-thirds of the total membership of the Senate and consequently, the bill stands passed.”
The bill now awaits approval by the National Assembly, after which it will be sent to the president to be signed into law.
Speaking on the floor of the Senate earlier, the law minister said the bill was aimed at providing swift justice to common people.
“It proposes an amendment with regard to constitutional benches in the Supreme Court… and the Judicial Commission of Pakistan will nominate their judges,” he said.
Former premier Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) opposition party has alleged the government is using the amendments to grant an extension in office to incumbent Chief Justice Qazi Faez Isa, widely seen as aligned with the ruling coalition government. The federal government has rejected Khan’s allegations.
“The political committee of the PTI has decided to boycott the voting process in both houses of parliament,” the PTI said in a statement on Sunday.
Earlier in the day, Tarar gave a detailed briefing to the federal cabinet on the 26th constitutional amendment and the cabinet members approved a draft of the amendments proposed by the coalition parties.
“The cabinet took the decision in the wider interest of the country while adhering to the oath of national development and public welfare,” PM Sharif was quoted as saying by his office on the occasion.
“By the grace of Allah, after stability of the country’s economy, a milestone has been achieved for constitutional stability and rule of law in the country.”
The ruling coalition had worked out the draft after “broader consultation” with all political parties and their leaders in parliament as well as with legal representatives, according to Tarar.
The Pakistan Peoples Party (PPP), a key ally of the Sharif-led coalition government, spearheaded efforts to woo opposition parties and prominent lawyers to accept the controversial amendments.
In a press conference on Saturday night, PPP Chairman Bilawal Bhutto-Zardari and Jamiat Ulama-e-Pakistan Fazl (JUI-F) chief Fazl-ur-Rehman confirmed “major” disputes between both sides had been resolved after the government had removed some sections of the initial draft on which the opposition had expressed its reservations.
“The government agreed to withdraw all the contentious sections we objected to, paving the way for consensus,” Rehman told reporters. “At this stage, there are no major disputes between us about the amendments, and most of the contentious issues have been resolved.”


Pakistan’s Punjab finalizes arrangements for artificial rain to combat smog

Pakistan’s Punjab finalizes arrangements for artificial rain to combat smog
Updated 20 October 2024
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Pakistan’s Punjab finalizes arrangements for artificial rain to combat smog

Pakistan’s Punjab finalizes arrangements for artificial rain to combat smog
  • Rising air pollution can cut life expectancy by over five years per person in South Asia
  • The Pakistani city of Lahore regularly ranks among the most polluted cities in the world

ISLAMABAD: The government in Pakistan’s most populous Punjab province has made preparations to induce artificial rain to combat smog in the region, Pakistani state media reported on Sunday, citing a provincial minister.
The Punjab region, straddling India and Pakistan, faces severe air pollution during winter as farmers burn crop stubble, contributing to smog compounded by emissions from low-grade diesel. Air quality deteriorates in cooler months as temperature inversion traps pollution closer to the ground, packing hospital wards with patients with respiratory problems.
This year the Punjab environment department, army aviation, civil aviation, meteorological department and the Pakistan Council of Scientific & Industrial Research (PCSIR) have devised a joint strategy to tackle the issue, the state-run Radio Pakistan broadcaster reported.
“Artificial rain will be carried out when needed to combat smog,” Punjab Environment Protection and Climate Change Marriyum Aurangzeb was quoted as saying by the broadcaster.
“One instance of artificial rain will cost between 5 to 7 million rupees (up to $25,290).”
The smog season peaks between October and February every year and the Pakistani city of Lahore and India’s capital New Delhi regularly top the list of the most polluted cities in the world.
Rising air pollution can cut life expectancy by more than five years per person in South Asia, one of the world’s most polluted regions, according to a report published last year, which flagged the growing burden of hazardous air on health.
In the past, the Punjab government has taken several steps, including a crackdown on brick kilns and closure of schools, to contain the smog crisis.
Aurangzeb said the crackdown on smoke-emitting vehicles, factories and other sources of toxic emissions would continue in the province.
She urged citizens to report instances of crop residue burning, smoke from industries or vehicles emitting excess smoke to the 1373 helpline.


Sajid, Noman ‘keep it simple’ for perfect mix to put England in spin

Sajid, Noman ‘keep it simple’ for perfect mix to put England in spin
Updated 20 October 2024
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Sajid, Noman ‘keep it simple’ for perfect mix to put England in spin

Sajid, Noman ‘keep it simple’ for perfect mix to put England in spin
  • The spin pair took all 20 wickets on a worn, turning, Multan track for a 152-run win to set up a third Test winner-takes-all showdown
  • The victory against England was Pakistan’s first at home since they beat South Africa in Rawalpindi three years and eight months ago

MULTAN: Sajid Khan and Noman Ali are as different as chalk and cheese but they gelled perfectly as they tore through England’s batting to give Pakistan a long-awaited Test win.
The spin pair took all 20 wickets on a worn, turning, Multan track for a 152-run win to set up a third Test winner-takes-all showdown at Rawalpindi starting on Thursday.
Left-armer Noman, 38, is the senior partner of a pair who have played together in eight Tests.
“We bowled with a lot of confidence and his energy is always very high,” Noman told AFP about his partner, off-spinner Sajid.
“Our plan was to keep it simple. We knew the England batsman would attack, so we were not distracted and kept it simple,” he said in written comments to AFP.
“This feat will go a long way in establishing our pairing. To get 20 wickets between us is an honor and it happens very rarely.”
The win is Pakistan’s first at home since they beat South Africa in Rawalpindi three years and eight months ago.
Noman took a career best 8-46 as England were 144 all out chasing 297 to win.
But it was Sajid who set the platform with 7-111 in the first innings to give Pakistan a crucial 75-run lead.
Noman finished with match figures of 11-147 and Sajid 9-204.
They became the seventh pair of bowlers to take all 20 wickets in a Test, and the first since Australia’s Dennis Lillee and Bob Massie against England in 1972.
Sajid cuts a dashing figure on the field, frequently twiddling his immaculately groomed moustache and celebrating a wicket with an exuberant thigh slap that has become his signature.
“I followed my father in keeping a moustache,” Sajid told AFP of his late father, who had served in the military.
“(Former Australia batsman) David Warner once said he was frightened of my moustache,” he added.
Former Pakistan left-arm spinner Iqbal Qasim believes that Noman and Sajid complement each other perfectly.
“Spin gives us the winning formula which we were not using,” said Qasim who took 171 wickets in 50 Tests for Pakistan.
“Noman and Sajid have matured with experience and can continue to give home wins like this.”
It is too early to compare the pair to India’s spin duo of Ravichandran Ashwin and Ravindra Jadeja who jointly have over 800 wickets.
Thirty-seven years ago, Qasim partnered Tauseef Ahmed for 18 wickets as Pakistan won in Bangalore for a first series win over arch-rivals India.
Off-spinner Ahmed, who took 93 wickets for Pakistan, said the pair had “bowled extraordinarily” well in the win over England, after Pakistan’s new selection committee decided to pick only one seam bowler.
“The previous set-up did not have belief in spinners and that’s why we were not using our home advantage,” said Ahmed
The series finale starts in Rawalpindi on Thursday.


Chinese development association to invest $13 billion in Pakistan in five years — state media 

Chinese development association to invest $13 billion in Pakistan in five years — state media 
Updated 20 October 2024
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Chinese development association to invest $13 billion in Pakistan in five years — state media 

Chinese development association to invest $13 billion in Pakistan in five years — state media 
  • Initial investment layout of $8-13 billion expected to surge to $30 billion, says state media 
  • China is a major ally and investor in Pakistan that has pledged over $65 billion in various projects 

ISLAMABAD: The China Asia Economic Development Association (CAEDA) will invest up to $13 billion in a free trade zone in Pakistan in the next five years, state broadcaster Radio Pakistan reported on Sunday. 
As Pakistan reels from a prolonged economic crisis that has seen its foreign exchange reserves fall to critically low levels and its currency deteriorate significantly, Islamabad has sought to attract foreign investment from regional allies such as China and the Middle East to bolster its fragile economy. 
The South Asian country set up the Special Investment Facilitation Council (SIFC) last year to attract foreign investment in economic sectors such as mining, agriculture, tourism and others. The SIFC is a hybrid civil-military body formed to fast-track investment-related decisions. 
“China Asia Economic Development Association (CAEDA) will make an investment of 13 billion dollars in free trade zone of Pakistan in the next five years,” Radio Pakistan said. 
“The initial layout of this investment is between 8 to 13 billion dollars while it is expected to reach 30 billion dollars,” it added.     
The free trade zone is aimed at catering to Pakistan’s domestic needs and those of the global market, Radio Pakistan said. It added that a duty-free shopping mall is also part of the zone where international goods will be available for Pakistani citizens. 
The state broadcaster said CAEDA has also sent 20 fishing boats to Pakistan with an investment of $500 million. 
“Supported by Special Investment Facilitation Council, a delegation of the Association discussed agreements with Ministries of Energy and Health regarding refined petroleum products, solar power grid connection and investments in pharmaceuticals,” it said. 
China is a major ally and investor in Pakistan that has pledged over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC) project. CPEC is a part of the Belt and Road Initiative, a massive China-led infrastructure project that aims to stretch around the globe.
Chinese investment and financial support since 2013 have been key for Pakistan’s struggling economy, including the rolling over of loans so that Islamabad is able to meet external financing needs at a time its foreign reserves are low.
Though time-tested allies, recent security challenges have put a slight strain on Pakistan’s ties with China. Separatist and religiously motivated militants have attacked Chinese projects in Pakistan over recent years, killing Chinese personnel.
Earlier this month, a suicide blast claimed by the separatist Balochistan Liberation Army (BLA) killed three people in Pakistan’s southern port city of Karachi, including two Chinese nationals, who were targeted in the attack.
Five Chinese workers were killed in a suicide bombing in March, which was the third major attack on Chinese interests in Pakistan in a week.
China has called on Islamabad to ensure security for its citizens in Pakistan. The South Asian nation has in turn sought to ease Chinese fears, vowing to provide fool-proof security to its citizens living and working in the country.