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  • Pakistan records 13.8 per cent inflation in May

    Pakistan records 13.8 per cent inflation in May

    The latest data provided by the Pakistan Bureau of Statistics (PBS) on June 1, inflation continued to rise in May 2022, with the Consumer Price Index (CPI)-based reading coming in at 13.8 per cent year on year, up from 13.4 per cent the previous month and 10.9 per cent in May 2021.

    In May 2022, inflation climbed by 0.44 per cent month over month, compared to 1.6 per cent the previous month and 0.1 per cent in May 2021. This brings average inflation in 11MFY22 to 11.29 per cent year over year, up from 8.83 per cent in 11MFY21.

    Rising prices have emerged as a major source of concern for the economy of the South Asian country, which is grappling with dwindling foreign exchange reserves and a growing import bill.

    The State Bank of Pakistan (SBP) hiked the main interest rate by 150 basis points to 13.75 per cent last month in an attempt to combat economic headwinds.

    The existing administration, on the other hand, has indicated that it will partially remove subsidies by raising petroleum product tariffs by Rs30 per liter, a move that is projected to raise inflation.

    As per a report from Brecorder, on a month-on-month basis, Inflation in Urban areas increased by 0.3 per cent in May 2022 as compared to an increase of 1.6per cent in the previous month and increase of 0.2per cent in May 2021.

    In the meantime, CPI inflation in urban areas grew 12.4 per cent year over year in May 2022, compared to 12.2 per cent the previous month and 10.8 per cent in May 2021.

    It climbed by 0.3 per cent month over month in May 2022, compared to a 1.6 per cent increase the previous month and a 0.2 per cent increase in May 2021.

    In rural areas, CPI inflation climbed by 15.9per cent year over year in May 2022, compared to 15.1 per cent the previous month and 10.9 per cent in May 2021. It climbed by 0.6 per cent month over month in May 2022, compared to an increase of 1.6 per cent the previous month and a fall of -0.03 per cent in May 2021.

    In May 2022, the SPI inflation grew by 14.1 per cent year over year, compared to 14.2 per cent a month earlier and 19.7 per cent in May 2021. On a month-over-month basis, it climbed by 0.6 per cent in May 2022, compared to 1.5 per cent a month earlier and 0.8 per cent in May 2021.

  • Govt considers imposing special levy in the upcoming budget

    Govt considers imposing special levy in the upcoming budget

    The government is considering imposing a specific levy or increasing the tax burden on paid and non-salaried classes earning more than Rs20 million per year in the upcoming budget 2022–23.

    Prime Minister Shehbaz Sharif presided over a high-level meeting to discuss the next budget’s essential components. The premier will have to decide whether to increase tax revenue and thus increase subsidies or cut the tax revenue objective.

    The administration is considering increasing the tax burden on the rich and affluent instead of increasing the percentage of indirect taxes. Top government officials admitted, “Yes, we are considering hiking taxes on the rich.” One of the proposals is to impose a tax modelled after the super tax, which was originally imposed at a rate of 5% on income earners earning Rs50 million per year but was gradually reduced and then repealed.

    For the approaching budget 2022-23, PM Shehbaz will have to choose either increasing subsidies and increasing the FBR’s tax collection target or reducing subsidies and lowering the FBR’s tax collection target.

    The government will have to choose between these two options in order to comply with the IMF’s proposed fiscal framework.

    After talks with the international lender ended inconclusively the day before, Pakistan’s government increased local fuel prices on Friday to meet a major condition imposed by the International Monetary Fund for resuming its bailout programme.

    Miftah Ismail, Pakistan’s finance minister, said on Tuesday that if offered, Pakistan would buy oil and food at reduced costs from Russia, if Moscow did not impose sanctions on Islamabad. He added, though, that Russia had not made such an offer so far.

    Mr Ismail told CNN’s Becky Anderson that Moscow had not responded to the previous government’s letter requesting cheaper oil from Russia.

    The finance minister also stated that if the economy had let it, the current government would have called early elections, but that in the current situation, the government’s first priority is to stabilise the country’s finances.

  • ‘Govt backed by establishment took repressive measures against us’: Shireen Mazari writes letter to the UN

    ‘Govt backed by establishment took repressive measures against us’: Shireen Mazari writes letter to the UN

    Former Human Rights Minister Shireen Mazari has written a letter to the United Nations (UN) to hold an “independent and impartial investigation” into the “state excesses and human rights violations” during Pakistan Tehreek-e-Insaf’s (PTI) Azadi March, held on May 25.

    In the letter, Mazari told the UN officials that Pakistan has been engulfed in a “political crisis” since former Prime Minister (PM) Imran Khan was ousted.

    The letter stated that the government “backed by the establishment” had taken “repressive measures” against the “Azadi March”.

    Mazari has requested the UN officials to “take urgent notice of the issues raised as they not only threatened democracy in Pakistan but also the lives of former Prime Minister Imran Khan, his party leadership…and intervene on these with the government of Pakistan”.

    Demands of PTI in letter

    The PTI in its letter also put forward five demands to the UN:

    Demand an independent and impartial investigation into these state excesses and human rights violations.

    Demand that the government immediately cease harassment of PTI workers and leaders.

    Demand the release of all political workers and cease lodging politically-motivated FIRs against workers and leaders of the PTI.

    Stop media censorship, which is in violation of basic democratic norms and of the ICCPR to which Pakistan is a party.

    Stop denying the right to peaceful protest through repressive measures and blocking access to protest sites.

  • Public pressure or change in taste?: Maryam Nawaz shifts to affordable local brands

    Public pressure or change in taste?: Maryam Nawaz shifts to affordable local brands

    Pakistan Muslim League Nawaz (PML-N) Vice President, Maryam Nawaz, has always put her best foot forward when it comes to her sense of fashion and choice of outfits.

    Irrespective of the fact whether one shares the same political views as hers or not, it can not be denied that Maryam Nawaz has become a symbol of grace in the way she carries herself.

    She picks her outfits carefully and supports Pakistani fashion designers. It is interesting to note that the politician known to wear very expensive designer clothes has made a shift and is seen wearing much more affordable brands.

    Maryam in Agha Noor

    Maryam attended the wedding of PML-N MNA Sania Ashiq and turned heads with her minimal yet gorgeous look. She wore a red crimson outfit from Agha Noor priced at Rs22,000.

    This is not the only time Maryam has worn Agha Noor. She once wore a printed white and red shalwar kameez from the brand as well.

    Parniyaan by Ayesha

    Maryam Nawaz wore a brown shalwar kameez designed by “Parniyaan By Ayesha” for the oath-taking ceremony of Prime Minister Shehbaz Sharif. The three-piece lace jora is for Rs55,000.

    Uzma Sattar pret

    Maryam Nawaz wore a minimal sky blue dress from Uzma Sattar worth Rs9,750.

    Zarsah Official

    The PML-N politician wears a complete white chikan and lawn dress worth Rs15,000.

    Maryam seen wearing Khadi

    Maryam Nawaz seems to wear Khaadi quite often.

    Nia.Mia Official

    The politician can be seen wearing a printed baby pink shalwar kameez from the brand. The price of this dress is Rs8,800.

    Sana Safinaz

    Maryam Nawaz once opted for a sky blue solid Sana Safinaz two-piece dress.

    Ego

    In the pictures below Maryam Nawaz can be seen wearing both printed and solid clothes from Ego. The price range of these clothes is less than Rs10,000.

  • Khyber Pakhtunkhwa: Death penalty or life imprisonment for a child abuser, 14 years for child pornography

    Khyber Pakhtunkhwa: Death penalty or life imprisonment for a child abuser, 14 years for child pornography

    The Khyber Pakhtunkhwa Assembly has passed “Khyber Pakhtunkhwa Child Protection and Welfare (Amendment) Act, 2022”.  The bill was introduced by provincial Law Minister Fazle Shakoor.

    According to the bill, anyone involved in child abuse might face a death sentence or a life sentence, as well as a fine of not less than Rs 20 lakhs. Meanwhile, child pornographers, will be sentenced to a minimum of 14 years and a maximum of 20 years in prison, with a fine of Rs 20 lakhs.

    For child trafficking, punishment of at least 14 years behind the bars or life imprisonment have been suggested with a fine of upto Rs 50 lakhs.

    Read more- FIA arrests man for child pornography, blackmailing teenager

    The recently passed bill states that any case related to child abuse must will be completed within 30 days.

    Furthermore, traveling on public transportation and accessing public areas is prohibited for anyone whose name is entered or appears on the Register of Sexual Offenders.

    Read more- 10 children sexually abused in Pakistan every day from Jan to June: report

    More than ten children were victims of sexual abuse on average every day between January 2021 and June 2021, a report by the child protection organisation Sahil states.

  • Khan stopped me from meeting ‘boss’, says Sheikh Rasheed

    Khan stopped me from meeting ‘boss’, says Sheikh Rasheed

    Former Interior Minister Sheikh Rasheed has claimed that former Prime Minister Imran Khan stopped him from going to meet “boss”. Rasheed was alluding to Chief of Army Staff (COAS) General Qamar Javed Bajwa.

    Speaking on Geo News programme ‘Aaj Shahzeb Khanzada Kay Sath’, Rasheed said, “I will complain to boss about the Rangers. It was not the responsibility of the Rangers to use tear gas at protesters. Police could have done it but the Rangers doing it was wrong. They have a name and status. They should not ruin their reputation like this.”

    Rasheed was referring to the May 25 face-off between the police, Rangers and Pakistan Tehreek-e-Insaf (PTI) supporters during the Imran Khan-led ‘Azadi March’.

    Anchorperson Shahzeb Khanzada asked if he [Rasheed] had called “boss” to complain and whether his number was blocked or not.

    “My number is open,” said Rasheed, adding that his number was open for all.

    When asked if he had contacted the boss, Rasheed responded, “Khan asked me not to go to meet boss. He stopped me. So I didn’t go. I can go to his house anytime but Imran Khan specially asked me not to go to his house.”

    “I do not want to disregard someone’s trust [in me]. Khan told me twice that Sheikh Rasheed, there are people involved in talks so you don’t go and meet him. I know everything. Where, when and what the negotiations were. I am telling you, I am still the most well-informed person of all. And this is the very reason I am telling the present government your days are numbered,” said Rasheed.

  • Nadal beats Djokovic in a riveting showdown

    Nadal beats Djokovic in a riveting showdown

    Once again, Rafael Nadal proved why he is the best player in French Open history by defeating long-time rival Novak Djokovic in a late-night thriller to advance to the men’s singles semi-finals.

    Nadal, seeking his 14th French Open title, got out to a strong start and held off defending champion Djokovic to win 6-2 4-6 6-2 7-6 (7-4) at Roland Garros.

    After more than four hours on the court, Nadal won at 1:15am local time. On Friday, the 21-time Grand Slam winner will meet third seed Alexander Zverev. After surviving a comeback by teenage phenom Carlos Alcaraz earlier on Tuesday, Germany’s Zverev, 25, advanced to the semi-finals for the second year in a row.

    “To win against Novak there is only one way: to play your best from the first point to the last,” said 35-year-old Nadal, who thanked the Paris crowd for showing their “love”.

    “This is one of those magic nights for me.”

    Fifth seed Nadal avenged his semi-final loss to Djokovic last year and improved his Roland Garros clay record to 110 wins in 113 matches.

    The pair’s rivalry is the longest durable in men’s tennis, with Nadal narrowing the deficit to 30-29 in the head-to-head after winning their 59th meeting.

    “Nadal demonstrated why he is a great champion by remaining psychologically strong throughout the match. Without a doubt, he is deserving of it “Djokovic stated.

  • Bismah Maroof to take her 10-month-old daughter to the Commonwealth Games

    Pakistan Women’s cricket team captain Bismah Maroof has been allowed by the Commonwealth Games (CWG) to take her daughter with her to the tournament.

    Earlier, the Commonwealth Games village said they will not accommodate Bismah’s infant daughter. The Pakistan Cricket Board (PCB) had asked the CWG Federation for two extra accreditations to accommodate Maroof’s mother and daughter in the village.

    “I want to thank the Commonwealth Games for accepting our request to accommodate our captain Bismah Maroof’s family at the Games village, which will allow her to focus on the task at hand without any worries about her young infant daughter,” PCB’s head of women’s cricket Tania Mallick said in a statement.

    Read more- ‘Where is the hate?’ Twitter reacts to Indian cricket team playing with Pakistan cricket captain’s baby

    Pakistan squad: Bismah Maroof (c), Aimen Anwar, Aliya Riaz, Anam Amin, Ayesha Naseem, Diana Baig, Fatima Sana, Gull Feroza (wk), Iram Javed, Kainat Imtiaz, Muneeba Ali Siddiqui (wk), Nida Dar, Omaima Sohail, Sadia Iqbal and Tuba Hassan.

    The Commonwealth Games are scheduled to be held in Birmingham, England, from July 28 to August 8, 2022.

    Pakistan’s Schedule for Commonwealth Games:

    July 29 – v Barbados

    July 31 – v India

    August 03 – v Australia 

  • Miftah Ismail says no response by Russia for buying oil at discounted rates

    Miftah Ismail says no response by Russia for buying oil at discounted rates

    Finance Minister Miftah Ismail on Tuesday in an interview with CNN’s Becky Anderson said that he does not know where former premier Imran Khan gets his numbers from, refuting Khan’s claims that Russia has not offered a 30 per cent discount on oil or wheat.

    “Let’s be clear. I don’t know where Khan gets these numbers from,” said Miftah.

    “Khan just makes it up as he goes along. He is the guy who was saying we (PDM) were brought in through an American conspiracy. And now he has come up with this new thing. If Russia was selling him cheap wheat and oil, then why didn’t he buy it? He did not,” said Miftah.

    Difficult for me to imagine buying Russian oil

    Miftah said that Western sanctions have made importing oil from Moscow impossible despite the Pakistani government’s request to buy wheat from Russia and Ukraine.

    “Russia has not offered us any oil either. It is difficult for me to imagine buying Russian oil,” said the finance minister.

     Raising oil prices was ‘a trap for us‘

    Talking about talks with the International Monetary Fund (IMF), Miftah said, “We have had talks with the IMF in Doha recently. We are talking to the IMF and particularly the IMF is looking at the budget that I am going to present in early June and after that, I am hoping that we will reach an agreement with the Fund.”

    He said the IMF was looking for Pakistan to reverse the subsidies on oil, petrol and diesel in particular “that the previous government had given”.

    Miftah added that the IMF also wanted Islamabad to reverse electric tariff subsidies that the previous government had done.

    “Then it is looking at the budget that I will present. So, I am pretty confident that we should be able to get an agreement with the Fund but there would be some austerity in the budget, some measures to increase taxation in the next budget.”

    The minister said that raising oil prices by the previous government was “a trap for us”.

    “Imran Khan in the last days of his government did a few things to violate all these agreements with the IMF, including giving these unsustainably high subsidies. And he knew we could not sustain this.”

    “And when we came to power, he is now going city to city, trying to rally the people with his theories about conspiracies and all that for putting a lot of political pressure on us.”

    The new government, he said, was finding it difficult to raise the prices right away, but it took a very important step last week.

    Moscow had not even responded to the previous government’s letter

    Ismail said that Moscow had not even responded to the previous government’s letter seeking to buy oil at a discounted price from Russia.

    “The two sides had talked about it, but since Russia is under sanctions, and they have not yet responded to the request sent by the Pakistan Tehreek-e-Insaf (PTI) government, there was no movement on this front.”

    However, he said Islamabad had approached both Ukraine and Russia, “whichever country is willing to sell us wheat we would be happy to buy it”.

    Hammad’s claims

    Former Energy Minister Hammad Azhar said, “Miftah sahib is claiming on national tv that no letter or proof exists of Russian oil talks. And who he should speak to. Russia was enthusiastic on selling discounted oil to us and he should have spoken to Energy Minister of Russia.”

    Miftah’s response:

    Miftah responded to Hammad Azhar’s tweet: “Bhai please listen to my interview again. I did say your govt wrote a letter. But I said no response ever came.”

    He added, “I didn’t say that you waited more than a month after IK’s visit to write the letter & then too when you knew you’d lose the VNC & that it was only done for politics.”

  • OGRA slashes LPG prices by Rs13 per kilogram

    OGRA slashes LPG prices by Rs13 per kilogram

    The Oil and Gas Regulatory Authority (OGRA) has announced a Rs13 per kilog price cut for liquefied petroleum gas (LPG).

    The cost of an LPG household cylinder has been decreased by Rs155, according to a notification released today. Under the revised tariffs, it will be offered for Rs2,581.35, which includes the sale of a commercial cylinder for Rs9,931.65.

    Chairman of the LPG Distributors Association Pakistan, Irfan Khokhar, commented on the matter, claiming that LPG is 45 per cent cheaper than petrol and diesel at present pricing.

    If the government focuses on the sector, he claims that LPG prices can be decreased by another 60 to 65 per cent.

    This is somewhat good news, as many house owners in developing housing societies lack access to Sui Gas connections and rely on LPG cylinders, which are offered at exorbitant costs. The recent price reductions may help consumers cope with the effects of inflation.

    It is important to note that LPG is an alternative and fuel that is mostly utilised for cooking, heating, and lighting especially in rural and hilly sections of the country where natural gas pipelines are not available.