Tag: stakeholders

  • Imran Khan will not leave country at any cost, claims Arif Alvi

    Imran Khan will not leave country at any cost, claims Arif Alvi

    Former president and Pakistan Tehreek-e-Insaf (PTI) leader Arif Alvi has claimed that incarcerated former Prime Minister Imran Khan is being offered to “strike a deal and leave the country,” Geo reported on Wednesday.

    During a press conference in Faisalabad, Alvi revealed that Imran Khan, in a display of unwavering commitment, turned down the offer and vowed to stay in the country at all costs.

    The former president also said that those who conspired to sentence Imran Khan will face complete failure.

    The PTI leader, in a clear demonstration of the party’s open-mindedness, confirmed their readiness to engage in dialogue with ‘stakeholders but not with the non-stakeholders’. He urged all politicians to let go of their animosity and approach matters compassionately.

    He stated that Khan’s release will be the supremacy of law in the country, adding that the people in power shouldn’t be afraid of the former Prime Minister’s release.

  • Pakistan lifts import restrictions to satisfy IMF demand

    Pakistan lifts import restrictions to satisfy IMF demand

    In a recent development, the State Bank of Pakistan (SBP) has taken the decision to lift all import restrictions as part of fulfilling a condition set by the International Monetary Fund (IMF).

    The central bank issued a circular to officially end these restrictions, thereby satisfying another requirement put forth by the IMF.

    To facilitate the release of over 6,000 containers, the federal government has granted permission to banks for remittance provision. The circular issued by the SBP states that remittances will be provided for all imports following the implementation of this latest order. The central bank has instructed authorised dealers to process remittances based on the recommendations of stakeholders.

    It came to light yesterday that Pakistan and the IMF are facing challenges in reviving a loan program, leading to disagreements between the Ministry of Finance and the IMF. Sources revealed that the plan to bridge the external financing gap relied on funds received from a donor conference held in Geneva.

    The primary objective of the conference was to garner support and contributions for Pakistan’s financial requirements. As part of this plan, the IMF was tasked with securing $500 million by June through the Geneva Donor Conference. However, efforts to obtain funds for the Ministry of Planning and Treasury have encountered obstacles. Delays in finalising contracts and agreements under the Donor Conference have further impeded the financing process.

    Sources within the Ministry of Finance report that the amount received through the Geneva Donor Conference currently stands at $150 million, falling short of the expected sum. This has raised concerns from the IMF, which has expressed dissatisfaction with the level of financial support obtained through the conference.

    According to ARY News, the funds acquired from the Donor Conference will be allocated to crucial recovery and rehabilitation projects in regions affected by floods. The aim is to address the needs of these communities and provide support for their restoration efforts.

  • Govt employees of grades 1-16 to receive 35% salary raise in FY2023-24 budget

    Govt employees of grades 1-16 to receive 35% salary raise in FY2023-24 budget

    In response to the ongoing challenges posed by significant inflation, the federal cabinet has granted its approval to the budget proposals for the upcoming fiscal year 2023-2024.

    As part of these measures, the salaries of government employees will be enhanced by up to 35 per cent, based on the recommendations put forth by various stakeholders. This decision aims to alleviate the hardships faced by the less privileged segments of society.

    Furthermore, the government has sanctioned a 17.5 per cent increment in pensions for the fiscal year 2023-2024. Employees falling within grades 1-16 will benefit from a salary raise of 35 per cent, whereas those in higher grades, above grade 17, will experience a 30 per cent increase in their salaries. Moreover, the government has established a minimum wage of Rs32,000.

    In addition to salary adjustments, the Pay and Pension Commission has proposed a 100 per cent rise in medical and conveyance allowances for government employees, along with a 10 per cent increase in ad hoc allowances. These recommendations are being taken into careful consideration by the government.

    The approval of the budget proposals reflects the government’s commitment to address the economic challenges faced by the country and provide relief to its citizens.