Author: newsdesk

  • IMF criticises Pakistan’s budget for FY24, urges govt to enhance revenue generation

    IMF criticises Pakistan’s budget for FY24, urges govt to enhance revenue generation

    The Ministry of Finance high-ups informed the Senate Standing Committee on Finance and Revenues that the International Monetary Fund (IMF) has expressed serious objections regarding the budgetary framework for 2023-24. 

    The IMF has urged the government to increase both tax and non-tax revenues. 

    A senior Ministry of Finance official acknowledged the IMF’s dissatisfaction with the budgetary framework and stated that they would need to defend the proposal to raise the petroleum development levy to Rs869 billion for the next fiscal year, compared to the revised estimate of Rs542 billion for the current financial year.

    However, the senators strongly opposed the Ministry of Finance’s intention to bypass parliamentary approval and empower the government to amend the Petroleum Levy Ordinance 1961 in order to raise the petroleum levy beyond Rs50 per litre. The government plans to increase the levy to Rs60 per litre in accordance with the consumption pattern in the country, as outlined in the Finance Bill 2023-24.

    Additionally, the Senate panel rejected the proposed imposition of a 0.6 per cent advance tax on cash withdrawals exceeding the limit of Rs50,000 and suggested raising the tax rate to 1% while reducing the limit to Rs25,000 for non-filers. The panel also recommended changes to the tax rates for Super Tax, proposing a reduction in the maximum rate from 10 per cent to 8 per cent for the highest income bracket.

    The Securities and Exchange Commission of Pakistan (SECP) expressed severe concerns about the increased risk of money laundering resulting from the raised monetary limit of foreign remittances from five million rupees to $100,000. SECP Commissioner Abdul Rehman Warraich informed the Senate committee that the Federal Board of Revenue (FBR) is unable to inquire about the source of investment or income under Section 111 of the Income Tax Ordinance 2001. 

    Similarly, the FBR cannot investigate tax evasion based on the source of remittance under the same section. It is worth noting that Section 111 taxes unexplained income except foreign remittances entering Pakistan.

  • Female CJ of Peshawar High Court elevated to Supreme Court

    Female CJ of Peshawar High Court elevated to Supreme Court

    The Judicial Commission of Pakistan (JCP) took the united decision on Wednesday of elevating Peshawar High Court (PHC) Chief Justice Mussarat Hilali to the Supreme Court of Pakistan. The decision was taken in the Council’s meeting in Islamabad, chaired by Chief Justice of Pakistan Umar Atta Bandial.

    Earlier, the next Chief Justice, Qazi Faez Isa, suggested her name for elevation and afterwards, Chief Justice Umar Atta Bandial also agreed to the nomination of Justice Hilali.
    She will be the second woman judge of the Supreme Court after Justice Ayesha Malik who was appointed in January 2022 to the apex court. Mussarat Hilali is the first female Chief Justice of PHC. She is the only woman on the bench since 2013.
    Justice Hilali also holds the honour of getting elected as the first woman executive member of Supreme Court Bar Association (SCBA) from 2007-2009.

  • We cannot even take Malik Riaz’s name on TV: Khawaja Asif

    Defence Minister Khawaja Asif talked about tax evasion in the country on Wednesday and said that 500 billion tax evasion is taking place in the real estate sector.

    While giving a speech in the National Assembly, Asif said that from the real estate sector, people like Malik Riaz cannot even be named on television.

    He went on to say that Riaz is also involved in the £190 million case but we can not take his name.

    Former Prime (PM) minister Imran Khan and his wife Bushra Bibi are being questioned by National Accountability Bureau (NAB) for aiding Malik Riaz in the settlement of £190 million seized by the United Kingdom’s National Crime Agency.
    Imran and Bushra Bibi are accused of receiving benefits from Malik Riaz by granting him the settlement of £190 million.

  • Salman Khan played a small role in Hrithik Roshan’s success

    Salman Khan played a small role in Hrithik Roshan’s success

    Hrithik Roshan became the subcontinent’s heartthrob when he made his debute at the age of 26 in ‘Kaho Naa… Pyaar Hai’. The film, directed, written and produced by Hrithik’s father Rakesh Roshan, went on to become a box office hit.

    But in an interview, the ‘Dhoom’ actor revealed that he was incredibly nervous about his first appearance on film, doing everything he could to look good on screen including meditating, singing and acting classes, and even seeking Salman Khan’s advice on body building.

    “I knew the physicality was very important, especially for this film where I was doing a double role, Rohit in the first part and Raj in the second half. I thought it would be nice if I could, even physically show the difference between the two characters. So, I was training myself for a year but I was not seeing the kind of results I wanted to see.”

    Roshan recalled speaking to the ‘Dabangg’ star, despite not knowing him at all:

    “I did everything that I could, including calling the biggest star Salman Khan, who did not know me at all. I just asked myself who is the best in the business, it is Salman and I said, ‘I have to try this. I have to try asking him what you do,” he confessed.

    Roshan also revealed his initial dislike of the script, finding it to be centered too much around the female perspective, and recalled complaining to his father about it. “On the script level, I thought it was a girl film and kept complaining to dad, ‘You know papa, I have got nothing to do. All I am doing is laughing or looking good, or dancing. How do I show people that I can do things,” re-called Hrithik.

    The ‘Zindagi Na Milegi Dobara’ actor confessed that after telling his complaint about the film to his dad, he remembered Rakesh shutting him down, by reminding him that he has no role in deciding the plot but is only acting in the film:

    “He said, ‘I am making a movie, you want to act in it, do. But don’t tell me how to make the movie. I am not making the movie to launch you, I am making it because I have an idea, you are acting in it since you suit the part. You are a newcomer who just happens to be my son.’”

  • Adil Raja detained in London

    Adil Raja detained in London

    YouTuber Major (retd) Adil Raja has been detained by the London police, Geo has reported.

    It is still not clear on what charges Raja is being held. However, it is pertinent to mention here that a case was registered against him two days ago at Ramna Police Station in Islamabad under the charges of counterterrorism and treason on the request of Muhammad Islam, a resident of the capital city.

    Raja’s attorney Mehtab Aziz told Geo News that he hasn’t been able to reach his client since the past 24 hours.

    Raja was known for running a YouTube channel named ‘Soldier Speaks’. He got famous earlier this year in January when he claimed that some Pakistani actresses and models were working in cahoots with General (retd) Qamar Javed Bajwa and former ISI chief General Faiz Hameed to trap politicians.

    Raja has been accused by his detractors of peddling fake news and sensationalism.

  • Beware, Biparjoy: our celebs are armed with safety tips and they’re not afraid to use them

    Reports are coming in that 62,000 people have been evacuated from the country’s coastal line, according to Climate Change Minister Sherry Rehman, and 75 relief camps have been set up at schools and colleges, according to Samaa.

    Celebrities and public figures are taking to social media to send helpful advice and prayers to those who could be affected by the natural disaster, as well as encouraging followers on social media to not listen to misinformation while stocking up on all the necessary things they need incase of emergency.

    Veteran actress Bushra Ansari shared a video of the sea outside her apartment to disseminate the misinformation that the storm had already reached Karachi, and sent her prayers to the resident’s of this city

    Philanthropist and actress Shaniera Akram urged her followers to help the ones living along the coast and whose lifestyle could be harmed due to the floods.

    Founder of ‘Something Haute’ Amina Haider Isani encouraged all her followers to bring their pets inside to a safer enclosure

    Actor Adnan Siddiqui sent well wishes to the people of both Pakistan and India, and prayed that the cyclone passes away soon.

    Actress Mishi Khan urged her followers to keep an emergency bag with them which included medicines, valuables, and cash etc, and to also remain in contact with friends and family members.

    There is no harm in finding some humor in dark times, like actress Ushna Shah can as she makes a funny quip about boarding a plane while a cyclone looms over Karachi

    “My flight to Karachi is taking off and there is a Cyclone warning there. I just want my husband to know that God forbid if the plane crashes & I don’t make it, I hope he finds happiness with someone new one day.. and I hope he knows she will never be as awesome as me. He will have settled. (It’s really sad that I have to give this disclaimer but I do: this is a joke).”

  • Request for including Imran Khan in Arshad Sharif’s Murder Case declared inadmissible

    Request for including Imran Khan in Arshad Sharif’s Murder Case declared inadmissible

    The Supreme Court of Pakistan (SCP) has discarded the petition of slain journalist Arshad Sharif’s mother to add Chairman of Pakistan Tehreek-e-Insaf (PTI) Imran Khan, head of ARY Salman Iqbal, former minister Murad Saeed, former minister Faisal Vawda and senior journalist Imran Riaz Khan to the investigation.

    The Supreme Court stated that the request of involving these persons can be made to Joint Investigation Team (JIT) instead.

    The Supreme Court has issued a written order, stating that the lawyer of Arshad Sharif’s mother had requested the court to conduct an investigation involving the aforementioned five people.
    The court dismissed the application, declaring it inadmissible and further stated that the request can be made to the JIT.
    The petition submitted by the lawyer also stated that it is a request to Supreme Court to order the chief of JIT to include these five persons in the investigation.

  • Cyclone Biparjoy: Karachi spared, Keti Bandar on high alert

    Cyclone Biparjoy: Karachi spared, Keti Bandar on high alert

    Karachi may be spared from the worst of Cyclone Biparjoy, the latest trajectories of the tropical storm seem to suggest.

    “The very severe cyclonic system (VSCS) Biparjoy will not directly hit Karachi; however, it will certainly hit Keti Bandar,” Minister of Climate Change Sherry Rehman said on Tuesday.

    Senator Sherry Rehman warned on a private TV show that there is no other option but evacuation for the residents of Keti Bandar.

    She added that Karachi may experience light rainfall today, but heavy rainfall is expected on Thursday and Friday. Karachi is likely to receive 110mm of rainfall, while Thatta, Badin, and Sajawal are expected to receive 330mm of rain.

    Sherry Rehman said panic is natural, pointing out that it is human psychology to panic when danger is near. However, following safety precautions can help us avoid danger.

    The Ministry of Climate Change has issued a High Alert for the residents of Keti Bandar and initiated the evacuation process.

    The senator urged locals to cooperate with the government and emphasized that the government did not want to resort to force, but if residents did not follow the SOPs (Standard Operating Procedures), necessary action would be taken.

    “We have a red alert in place until June 18 and will issue a new advisory at 11 or 12 o’clock on the day the storm is expected to make landfall,” she added.

    In a separate tweet, she stated: “Panic is understandable, human nature; but it’s important to move with caution and calm.”

    “Evacuations are painful, stressful, and hard to embark on, but we must insist on them in areas where we see #CycloneBiparjoy making landfall. For coastal areas like Keti Bandar, evacuations are not optional.”

    During the same appearance on Geo News’ ‘Aj Shahzeb Khanzada Ke Saath,’ Pakistan Meteorologist Department (PMD) Sindh Chief Meteorologist Sardar Sarfaraz said the storm’s intensity had somewhat decreased.

    “There is no dangerous situation in Karachi; the cyclone will exit from the city’s south,” he said.

    He further added that the storm was heading toward the north.

    “It will then move northeast, where it will hit or pass Keti Bandar and Indian Gujarat,” he said, commenting on the cyclone’s trajectory.

  • Shell Pakistan’s parent company to exit ownership, announces sale of stake

    Shell Pakistan’s parent company to exit ownership, announces sale of stake

    Shell Pakistan Limited (SPL) announced on Wednesday that its parent company, Shell Petroleum Company Limited (SPCo), has communicated its intention to divest its ownership stake in SPL. The notification was conveyed by SPCo to the Board of Directors of Shell Pakistan Limited during a meeting held on June 14, 2023. The announcement was promptly disseminated to the Pakistan Stock Exchange (PSX) by Shell Pakistan.

    The potential sale of shares is contingent upon a targeted sales process, the completion of binding documentation, and obtaining the requisite regulatory approvals. It should be noted that SPL operates as a subsidiary of Shell Petroleum Company Limited, United Kingdom, which is itself a subsidiary of Royal Dutch Shell Plc—a globally renowned energy and petrochemical conglomerate.

    Shell Pakistan Limited engages in the marketing of petroleum products, compressed natural gas, and a diverse range of lubricating oils. While this development signifies a change in ownership, Shell Pakistan has emphasised that its ongoing business operations will remain unaffected and continue as usual. The company remains fully committed to ensuring the provision of safe and reliable services to its valued customers and partners.

    In the previous month, Shell Pakistan Limited released its financial results for the first quarter of 2023, which were significantly impacted by the prevailing economic crisis in the country. The company reported a substantial loss of Rs4.6 billion, in contrast to a profit after tax of Rs2 billion in the corresponding period last year. This downturn can be attributed to the unprecedented devaluation of the Rupee, escalating inflation, and broader macroeconomic uncertainties.

  • No conflict on chairman PCB’s seat, says Rana Sana Ullah

    No conflict on chairman PCB’s seat, says Rana Sana Ullah

    In a press conference, Rana Sanaullah declared that there is no dispute within the government over the Chairman of the Pakistan Cricket Board (PCB). He mentioned that the Prime Minister always fosters inclusivity, and coalition partner Pakistan People’s Party(PPP) chief Asif Zardari engages in discussions.

    He clarified that any political party can hold different opinions regarding the appointment of the PCB Chairman, but there is no fundamental disagreement.

    Furthermore, Rana Sanaullah emphasized that there is no pressure on former Chairman Nadra, Tariq Malik. He denied any occurrence of a contentious conversation between himself and Tariq Malik’s secretary.

    It is important to note that Chairman of the PCB Management Committee, Najam Sethi, recently met with Prime Minister Shehbaz Sharif. During the meeting, the Prime Minister directed Najam Sethi to expedite the elections for the PCB Chairman.

    Shahbaz Sharif has nominated Najam Sethi as the candidate for the Chairman of the Pakistan Cricket Board. Following this nomination, Najam Sethi held a meeting with Sharif, where he briefed the Prime Minister on the upcoming Asia Cup and the World Cup in India.

    According to sources, Najam Sethi also sought the Prime Minister’s opinion on the Asia Cup and the World Cup, and the Premier expressed complete confidence in Najam Sethi.

    During the briefing, it was announced that the PCB’s 2014 constitution has been fully reinstated. Elections for the PCB districts have been completed in over 90% of the districts, and 80% of the regional elections have also been concluded.

    Additionally, it was disclosed that the Regional Inter-District Under-19 Cricket Tournament will commence on June 15. The one-year cricket calendar has been finalized and will be announced soon. All departments have begun assembling their cricket teams.