Tag Archives: Government

Government borrowed 86pc of central bank’s expanded reserve

Government borrowed 86pc of central bank’s expanded reserve

KARACHI: Alarmed by perennial economic threats like excess money creation and the looming threat of heavy inflation, the State Bank of Pakistan (SBP) revealed on Monday that the government had borrowed 86.3 percent or Rs 266 billion of the total Rs 308 billion expanded reserve held during the current fiscal year.
The central bank is also concerned that economic variables like inflation, fiscal overspending and unresolved issues in the power sector were hampering stabilisation and

The antics of a toothless Sindh government

You can’t make everyone happy all the time and only if the PPP-led Sindh government could comprehend this fact, Karachi would not be in its current state of lawlessness. The toothless and indecisive provincial government, which is made up of unnatural bedfellows, is in a habit of taking U-turns and bad decisions.
Recently, the government ordered a crackdown, to be carried out only by Rangers, in some areas of the city that are dominated by ANP. Many ANP activists were arrested,

Karzai government accused of political interference in vote

KABUL: Afghan President Hamid Karzai’s government came under withering attack Friday, accused of trying to manipulate parliamentary election results by the political opposition and a senior vote official.
The accusations threaten to ignite nationwide anger over the second Afghan parliamentary election since the 2001 US-led invasion evicted the Taliban and to drag Karzai’s administration into further controversy linked to corruption.
They come after attorney general Mohammad

Government left with no option but to toe IMF line

KARACHI: Pakistan has not managed to seal a substantial amount of support from donor agencies or bilateral sources in the two-day Pakistan Development Forum held from November 14 to 15.
The IMF insisted on structural reforms highlighting the reformed General Sales Tax (GST) and electricity as priority areas. Even the long-standing bilateral partners have seconded IMF’s opinion of taxing the rich and the untapped segments of the economy.
The event managed to secure $500

Berlusconi government hit by resignations

ROME: Four ministers resigned from the Italian government on Monday, escalating a political crisis in Prime Minister Silvio Berlusconi’s coalition that could last for weeks.
The four — Europe Minister Andrea Ronchi, Deputy Economic Development Minister Adolfo Urso and two junior ministers – are supporters of speaker of parliament Gianfranco Fini, a former ally of Berlusconi turned rival.
Fini’s Future and Freedom movement announced the pull-out in a statement.

Punjab government flouts LHC orders on illegal speed breakers

LAHORE: Despite calling upon the federal government to implement verdicts of the superior courts, the Punjab government and its entity, the City District Government Lahore (CDGL) has not implemented the Lahore High Court’s (LHC) judgment ordering the removal of all illegal speed breakers in Lahore with immediate effect, Pakistan Today has learnt.
LHC Chief Justice (CJ) Khawaja Muhammad Sharif on November 3 had ordered the municipal authorities to remove all illegal speed breakers

Government reviewing power tariff system

ISLAMABAD: The federal government is having second thoughts on the differential tariff regime, one of the key ingredients of the proposed power sector reforms, as their implementation may raise issues that some regional parties might try to exploit.
The government had sought legal advice whether a national level regulatory body could notify different tariff for countrywide implementation, official sources said. They said under the proposed power sector reforms, the government

Paperwork on Gulberg’s Doongi ground ‘frozen’ by Punjab government

The Punjab government has halted all paper work with immediate effect concerning the conversion of a controversial IMAX theatre into a public park, library, restaurant, gymnasium and parking lots at the Doongi Ground, MM Alam Road, Gulberg, Pakistan Today has learnt.
A Chief Minister’s Secretariat official, asking not be named, said that the Punjab government’s legal experts had cautioned the provincial administration that another contempt of court petition could be

Government likely to move SC for early hearing

The government is likely to move an application in the Supreme Court for an early hearing of other controversial and challenged clauses of the 18th Amendment, so that parliament could re-amend it along with Article 175A in one go, Pakistan Today learnt on Sunday.
“If the constitutional reforms committee reaches a consensus on 175A under the light of the SC decision and brings it in the form of 19th Amendment in parliament for passage, the committee may have to go

Government urged to write off all loans in flood-affected regions

National Assembly Standing Committee on Food and Agriculture on Friday urged the government to waive all agriculture loans issued in the flood ravaged areas of the country.
The meeting which was held here under the chairmanship of Javed Iqbal Warraich discussed steps taken by the government of Pakistan, Zarai Taraqiati Bank Limited (ZTBL) and Insurance companies to compensate affected farmers.
Total agriculture loans granted in flood affected areas are about

Government will maintain free market stance, says Mirza Ikhtiar

There is unanimous accord among the major decision-makers that the fundamental principles of the free market must not be disrupted, and the government would not attempt to intervene in setting the domestic price of raw cotton, given prices prevailing on the world stage.
This was stated by Federal Adviser on Textiles Dr Mirza Ikhtiar Baig, while addressing a joint press conference with All Pakistan Textile Mills Association Chairman Ejaz Gohar at the APTMA House on

Food insecurity looms as government procrastinates

ISLAMABAD: The failure of the government to provide key agricultural inputs on time for flood-affected farmers and rehabilitation of the damaged canal infrastructure pose a major threat to the upcoming Rabi crops, official sources said.
The government estimates to achieve 24 million tonnes of wheat production next year. However, agriculture experts fear a massive decline in production, between 18 to 20 million tonnes against an annual wheat demand of 22 million.
The farmers

Sindh government and HESCO finally resolve to resolve disputes

KARACHI: In a bid to settle the long running dispute between the Sindh government and the Hyderabad Electric Supply Corporation (HESCO) over outstanding dues of Rs27 billion; the two entities have composed field committees to properly scrutinize the details of the case.
The field committees, constituted of officials of both the Sindh government and HESCO, would evaluate the electricity bills issued to the sub-department of the provincial government in various districts excluding

PPA presses government on surplus wheat

LAHORE: The Pakistan Poultry Association (PPA), in an interesting development, has asked the provincial government to sell surplus wheat stocks to poultry feed manufacturers at Rs 18 per kilogram, which was purchasable for Rs 23.75 per kilogram in the beginning of the season, Pakistan Today learnt on Monday.
PPA Chairman, Raza Mehmood Khursand, has asked the provincial government to sell one million tonne of surplus wheat to poultry feed manufacturers or request the federal

Baloch slams government

A 53 percent price hike and the recent $7 billion International Monetary Fund (IMP) loan was a charge sheet against the government who had made exaggerated claims of providing “roti,kapra,makan” to people before getting elected, Jamaat e Islami (JI) Secretary General, Liaquat Baloch said in a press statement.
The prices of electricity, gas, food items, agricultural inputs and other items had registered a steep rise, he said, depriving the public of their basic rights. The rulers

Federal government decrees removal of sugar mill

Karachi: The federal government, it is alleged, in a surprising move, is directing the Sindh government to pursue the relocation of a functioning sugar mill from Benazirabad (Nawabshah) to the nearby Sanghar district, citing the environment hazard the mill posed.
Interestingly, a senior bureaucrat, a member of the Board of Revenue who also holds the additional charge of Chief Secretary Sindh, Ghulam Ali Shah Pasha has summoned a meeting of the management of the above-mentioned

No government, judiciary showdown in the offing: Gilani

Prime Minister Yousaf Raza Gilani on Monday said there would be no showdown between the government and the judiciary and October 13 would pass smoothly.
“Those who are giving deadlines for the government’s ouster will be disappointed,” he said while talking to reporters after a dinner hosted in honor of diplomats at the Prime Minister’s House.
Gilnai said the government had a lot of respect for the judiciary and there was no clash between the two