Trending News
PESCO Replaces Free Electricity for Employees With Monthly Cash Allowance
Pakistan Rejects High-Priced LNG Bid Again as Import Costs Continue to Rise
PAEC and PSO Sign Strategic Deal to Strengthen Fuel Supply and Operational Efficiency
Opening Date Announced for New Major Government Hospital in Islamabad
Pakistan’s Cotton Arrivals Surge 27% as Favorable Weather Boosts Crop

Business

BusinessEconomyNews
bywebdesk

PESCO Replaces Free Electricity for Employees With Monthly Cash Allowance

BusinessEconomyMarketingNews
bywebdesk

Pakistan Rejects High-Priced LNG Bid Again as Import Costs Continue to Rise

BusinessEconomyEventsMarketingNews
bywebdesk

PAEC and PSO Sign Strategic Deal to Strengthen Fuel Supply and Operational Efficiency

BusinessEventsMarketingNews
bywebdesk

Opening Date Announced for New Major Government Hospital in Islamabad

Power Sector Subsidies Surge by 400% in Five Years: World Bank Report

A World Bank report released on October 17, 2024, revealed that subsidies in Pakistan’s power sector have surged by an astonishing 400% over the past five years. The report, which analyzes the country’s energy sector dynamics, highlights the growing burden of subsidies on the national economy, with costs ballooning due to inefficiencies, mismanagement, and rising energy prices.

The report identifies several factors contributing to the surge, including outdated power infrastructure, delays in renewable energy projects, and the increasing reliance on expensive imported fuel. The subsidies are largely aimed at keeping electricity prices affordable for consumers, but they have resulted in an unsustainable fiscal strain. According to the World Bank, Pakistan’s energy subsidy bill now accounts for nearly 2.5% of its GDP, a figure that has alarmed financial experts.

The report urges Pakistan to undertake comprehensive reforms in the energy sector, including better management of distribution companies, investment in renewable energy, and the gradual phasing out of subsidies. It warns that without these measures, the country’s economic recovery could be at risk.

Government officials acknowledged the findings, but emphasized that reducing subsidies too quickly could exacerbate the financial pressures on lower-income households. Energy Minister Khurram Dastgir stated that while reforms are necessary, they must be implemented in a way that balances fiscal responsibility with the needs of Pakistan’s poorest citizens.

IMF Approves Increase in Benazir Kafalat Program Stipend Amount

The International Monetary Fund (IMF) has approved an increase in the stipend amount distributed under Pakistan’s Benazir Kafalat Program, a significant move aimed at supporting low-income households amid rising inflation. On October 17, 2024, the IMF greenlit this increase as part of its ongoing financial support package for Pakistan, recognizing the need for enhanced social safety nets in the current economic climate.

The new stipend amount, which was raised by approximately 20%, will benefit over 8 million families registered under the program. The decision comes at a time when Pakistan is grappling with economic challenges, including high inflation, soaring food prices, and a weakened currency. The IMF’s approval followed extensive discussions with Pakistan’s finance ministry and relevant stakeholders, who argued that bolstering social welfare programs is crucial for poverty alleviation.

The Benazir Kafalat Program has been a cornerstone of Pakistan’s poverty reduction efforts, providing monthly cash transfers to low-income women. The increase in stipends has been widely welcomed, particularly by welfare organizations, though some economists have raised concerns about the long-term sustainability of such subsidies given Pakistan’s fiscal constraints.

Prime Minister Shehbaz Sharif lauded the IMF’s decision, stating that it would provide much-needed relief to millions of Pakistanis struggling with the economic downturn. However, opposition parties criticized the government’s reliance on IMF bailouts, calling for more self-reliant economic policies.

ARY Unveils Key Points of JUI’s Draft for Constitutional Amendment

On October 17, 2024, ARY News unveiled key points from a proposed constitutional amendment draft prepared by the Jamiat Ulema-e-Islam (JUI-F). The amendment, which is being circulated among political stakeholders, aims to address several structural and legal changes that the JUI-F believes are necessary to strengthen the country’s democratic system and Islamic identity.

The draft highlights amendments in areas related to judicial independence, the role of the military in civilian governance, and the introduction of stricter Islamic laws. It also proposes reforms in election procedures, focusing on greater transparency and reduced influence of money in politics. According to the ARY report, one of the key points includes a clause that would make Islamic teachings more central to Pakistan’s legal framework, an idea that has sparked both support and opposition from various political factions.

The Pakistan People’s Party (PPP) and the ruling Pakistan Muslim League-Nawaz (PML-N) have expressed interest in reviewing the draft, though no official comments have been made regarding their stance. However, some secular parties, particularly the PTI, have voiced concerns about potential challenges to Pakistan’s secular legal principles.

JUI-F leader Maulana Fazlur Rehman has long advocated for constitutional changes, particularly focusing on enhancing Islamic principles within governance. The proposed draft is expected to be debated in parliament in the coming months, where it could face considerable opposition from liberal and secular parties.

Ramzan Sugar Mills Case Against PM Shehbaz, Hamza Transferred to ACE

In a significant legal development on October 17, 2024, the high-profile Ramzan Sugar Mills case involving Prime Minister Shehbaz Sharif and his son, Hamza Shehbaz, was transferred from the accountability court to the Anti-Corruption Establishment (ACE) Punjab. The case, which has been ongoing for several years, revolves around allegations of financial irregularities and misuse of public funds by the Sharif family in the construction of a drain for the mill.

This shift in jurisdiction has raised questions about the future of the case, as ACE Punjab now assumes responsibility for continuing the investigation. According to legal experts, the move is part of broader judicial reforms aimed at decentralizing accountability proceedings, especially for cases involving high-ranking politicians.

The opposition has voiced concerns that this transfer could slow down the case’s progress. They fear it may be a tactic to delay or potentially weaken the prosecution against the Sharif family. The Pakistan Tehreek-e-Insaf (PTI) party, in particular, criticized the move, claiming it reflects selective justice. However, government officials defended the decision, citing legal technicalities that necessitated the transfer to ACE.

PM Shehbaz and Hamza have consistently denied the charges, labeling them politically motivated. Their legal team welcomed the change, expressing hope that ACE would conduct a more transparent investigation. The case remains a significant issue for Pakistan’s political landscape, as its outcome could have serious implications for the current government.

Lahore ‘Rape’ Incident: Over 250 Arrested During Students’ Protests

In a massive crackdown, over 250 individuals were arrested during student-led protests in Lahore on October 17, 2024. These protests were in response to a shocking incident involving the alleged rape of a university student, which has triggered widespread outrage across the city. Demonstrators, primarily students from various educational institutions, took to the streets demanding swift justice and stricter laws to protect women.

The incident occurred earlier in October, and protests have only intensified as frustrations grew over the perceived inaction of authorities. Protesters gathered near Mall Road and outside prominent government buildings, chanting slogans and holding placards. Law enforcement, attempting to manage the crowd, used tear gas and baton charges to disperse protesters. In a swift operation, the police arrested over 250 participants, citing “unlawful assembly” and damage to public property.

Student unions across Lahore condemned the police response, claiming their protests were peaceful. Some activists took to social media to decry the arrests, accusing the government of attempting to silence the youth. The protests also highlighted the broader issue of sexual violence against women in Pakistan, as demonstrators called for harsher punishments for rapists and improved safety measures for women on campuses.

Political leaders and civil rights activists are closely monitoring the situation, with several urging the authorities to address the root causes of the unrest instead of focusing solely on quelling the protests. The incident has brought into sharp focus the ongoing debate around women’s safety, accountability, and justice in Pakistan.

US sends letter to Israel: Boost humanitarian aid to Gaza in 30 days or face military aid cuts

The US has sent a strong letter to Israel, urging them to boost humanitarian aid in Gaza within 30 days, warning that failure to do so could result in cuts in US military assistance. This letter marks the most forceful written warning to Israel from the Biden administration amid the ongoing Israel-Gaza war update.

The letter, signed by Secretary of State Antony Blinken and Defense Secretary Lloyd Austin, emphasizes growing concerns over the deteriorating humanitarian situation in Gaza.

The letter follows a new Israeli offensive in northern Gaza, where civilian casualties have spiked. The US expressed deep worries, as Israel reportedly blocked or restricted nearly 90% of humanitarian movements in Gaza last month.

Israel-Gaza war update: US asks for urgent action

Despite Israel’s assertion that its military actions are aimed at Hamas operatives, the US insisted that urgent action is needed to prevent a deepening humanitarian crisis. Israel is being urged to allow the entry of 350 lorries carrying aid into Gaza daily, which is vital for the survival of the displaced population.

The letter also calls for Israel to open four major crossings into Gaza, with a fifth crossing proposed for aid delivery. Failure to comply could lead to cuts in US military assistance, as US laws prohibit military aid to nations obstructing US humanitarian efforts.

This comes at a time when Israel heavily depends on US military support in its war against Hamas. The US reiterated that while it supports Israel, urgent humanitarian measures are required to address the ongoing crisis.

Also, see:

100-Index of the Pakistan Stock Exchange Reaches Historic Milestone Following SCO Summit

100-Index of the Pakistan Stock Exchange Reaches Historic Milestone Following SCO Summit

The 100-index of the Pakistan Stock Exchange (PSX) gained 365.32 points yesterday, completing the day with its highest-ever close at 86,205.66 points. This is the highest closing for the index so far due to heavy trading as 474,333,405 shares were exchanged against a total sum of Rs. 26.942 billion. The stiff numbers thus reflect a growing investor confidence in the market.

Investor optimism driven by the success of the Shanghai Cooperation Organization summit gave way to a rally in the 100 Index of the PSX, according to Topline Securities. The stated summit was held successfully and therefore set the expectation for regional political and economic stability, hence further enhancing market sentiment. Healthy corporate earnings from a range of sectors are also reported to contribute to the rally, thus improving overall performance.

The Pakistan Stock Exchange 100-Index also moved upwards following through with a positive power sector development. Stocks like LPL, NPL and NCPL go into upper circuits as the government announced its intention to pay the pending due amounts and presented four “take and pay” options to 18 Independent Power Producers established under the Power Generation Policies of 1994 and 2002. That surely worked out pretty well for the power sector and fueled further the overall market rally.

Some of the biggest movers driving the rise in the 100-Index of the Pakistan Stock Exchange were heavyweights like PPL, HUBC, PSO, OGDC, and SEARL. Those five companies added 368 points to their collective total, which gave the index a record close but told the story of strength in more than one market sector.

Also, see:

Indian FM Jaishankar Lands in Pakistan to Attend SCO Summit 24

US Tells Israel to Improve Gaza Humanitarian Situation or Risk Military Aid

The United States has issued a stern warning to Israel, urging it to address the worsening humanitarian crisis in Gaza or risk losing critical military aid. This development comes amid growing international pressure on Israel to allow aid to reach the besieged territory, where Palestinians face dire conditions due to ongoing blockades and military operations.

Reports indicate that Washington has expressed frustration with Israel’s handling of the Gaza situation, particularly its refusal to ease restrictions on the flow of food, medicine, and other essential supplies. The Biden administration has reportedly made it clear that failure to act on humanitarian grounds could jeopardize future military support, a move that could significantly impact Israel’s defense capabilities.

This diplomatic intervention follows mounting criticism from human rights organizations and global leaders, who have accused Israel of contributing to a humanitarian disaster in Gaza. The situation has also sparked protests across several countries, including Pakistan, where demonstrators have called for solidarity with the Palestinian people.

Israel has responded by defending its security measures, stating that they are necessary to prevent attacks from militant groups within Gaza. However, the US has urged a more balanced approach, emphasizing the need to protect civilians while addressing security concerns.

As the situation in Gaza remains critical, the US-Israel relationship is likely to face further strain, with military aid hanging in the balance.

PTI Founder Undergoes Medical Checkup at Adiala Jail

Imran Khan, the founder of the Pakistan Tehreek-e-Insaf (PTI), underwent a medical checkup at Adiala Jail amid concerns about his health. The former prime minister, who has been imprisoned following corruption allegations, was examined by a team of government-appointed doctors to assess his condition.

Khan’s health has been a subject of intense speculation, with his legal team repeatedly raising concerns about his well-being since his detention. The medical team reportedly conducted a thorough examination, including blood tests and other routine checks, to ensure he receives appropriate medical care during his incarceration.

Sources within PTI claim that Khan’s health has deteriorated due to the harsh conditions in jail, further intensifying demands for better treatment. His supporters have organized protests outside the prison, calling for his release and accusing the government of politically motivated persecution.

Meanwhile, government officials have reassured the public that all necessary medical facilities are being provided to the former prime minister in accordance with jail protocols. The authorities have also denied any allegations of mistreatment, asserting that Khan is receiving fair and lawful treatment.

The political situation remains tense as PTI members continue to voice concerns about Khan’s future in politics, with some calling for international intervention. This medical checkup is expected to provide further clarity on his condition as legal proceedings continue.

PPP, JUI-F Agree on Constitutional Amendments

In a significant political development, the Pakistan People’s Party (PPP) and Jamiat Ulema-e-Islam-Fazl (JUI-F) have reached an agreement on key constitutional amendments aimed at strengthening Pakistan’s democratic framework. This collaboration between two major political forces has been hailed as a breakthrough in addressing long-standing issues related to the constitution.

Sources within the PPP revealed that the agreement focuses on revising provisions related to electoral reforms, enhancing provincial autonomy, and improving governance. The move comes after months of negotiations between party leaders, including PPP Chairman Bilawal Bhutto-Zardari and JUI-F chief Maulana Fazlur Rehman. Both parties have emphasized the need for constitutional clarity to ensure political stability and better governance in the country.

While the specifics of the proposed amendments have not been fully disclosed, insiders suggest that electoral reforms may include changes to the voting system and measures to increase transparency in the electoral process. Additionally, provincial autonomy is expected to receive greater attention, with a focus on devolving more power to the provinces in line with the 18th Amendment.

This political partnership is seen as a strategic alignment, particularly ahead of the upcoming general elections. Analysts believe the collaboration will enable both parties to present a united front on crucial national issues. Meanwhile, the opposition remains divided on whether to support these proposed amendments, with some parties expressing reservations about the broader implications.

As discussions progress, the amendments will be presented before the parliament for approval, where they are likely to spark heated debate. This agreement is seen as a crucial step in reinforcing Pakistan’s constitutional framework amid ongoing political challenges.

Lahore College ‘Rape’ Case: Inquiry Committee Formed to Probe Disinformation

In Lahore, an inquiry committee has been established to investigate the disinformation surrounding an alleged rape case at a prestigious women’s college. The case, which stirred controversy, has prompted swift action from authorities to uncover the facts and address the rumors circulating on social media platforms.

The alleged incident sparked protests, with students and activists demanding justice for the victim. However, authorities have expressed concerns over conflicting reports and misinformation spread online, which they say have exacerbated the situation. The inquiry committee is tasked with gathering credible evidence and interviewing key witnesses, including college staff and students, to determine the accuracy of the allegations.

Authorities suspect that certain elements may have intentionally spread false information, aiming to incite unrest on campus. They are particularly focused on identifying those responsible for circulating inflammatory posts that fueled tensions. Meanwhile, the college administration has been criticized for its handling of the case, with many calling for reforms to improve student safety on campus.

The committee’s findings are expected to play a crucial role in clarifying the situation and restoring peace within the academic community. Law enforcement agencies are also closely monitoring the developments and have urged the public not to rely on unverified information. This case has once again highlighted the challenges posed by disinformation and the need for a balanced approach when addressing sensitive issues like sexual violence.

Woman Arrested for Kidnapping People After Luring Them Into Marriage Trap

A woman in Pakistan has been arrested for allegedly kidnapping individuals by deceiving them into a marriage trap, in a shocking case that has sparked public outrage. The arrest was made after a series of complaints from victims who claimed they were tricked into marrying her, only to be held hostage and extorted for ransom later.

According to the police, the woman, operating in several cities, used social media platforms to target vulnerable individuals. She presented herself as a potential spouse, gaining their trust and convincing them to meet in person. Once the meeting occurred, her accomplices would ambush the victims, abduct them, and demand significant amounts of money from their families. Investigators are still identifying the total number of people she and her gang have trapped in this scheme.

Authorities have stated that a coordinated investigation has been launched to dismantle the network, which is believed to involve several other criminals. The police have encouraged other victims to come forward, as it is suspected that many are too afraid or embarrassed to report the incidents.

The case has triggered a wave of discussions about online safety and the rising number of scams related to matrimonial sites and social media in Pakistan. The increasing trend of marriage-related fraud has become a growing concern, prompting the authorities to take stricter measures against criminals using these tactics.

This latest development highlights the need for better online regulation and public awareness regarding such fraudulent activities.

PCB warns Fakhar Zaman for supporting Babar Azam

Pakistan Cricket Board has issued a very strong warning to Fakhar Zaman after his controversial social media post, which increased the tension between the player and the cricket board. PCB issued a warning to Fakhar Zaman after the batter publicly criticized the exclusion of Babar Azam from the squad for the upcoming second and third Test matches. There was a lot of concern over Babar in Fakhar’s post on X, formerly Twitter, where they felt that deciding to sideline “arguably the best batter Pakistan has ever produced” might send a “deeply negative message across the board.”

Arguing within his post, Fakhar urged the PCB to place the player’s protection over undermining them. His timing was politically wrong to question after the PCB had not formally been able to announce any squad changes. PCB warns Fakhar Zaman for making public comments without addressing his concerns privately, which they considered inappropriate for a centrally contracted player.

This is the reason why the PCB termed the public statement derogatory to the dignity of the game in Pakistan. The PCB issued an official warning to Fakhar Zaman citing that he violated the code of conduct since proper channels exist to pursue grievances with cricket authorities instead of making them public at forums. Fakhar posted the message before the PCB made the first communication to its contracted players complicated since the board expects contracted players to hold it in inappropriate respect.

Here is the Tweet as PCB warns Fakhar Zaman

Fakhar Zaman hasn’t issued a response to the show-cause notice that was issued by the PCB. Also, as of now, the post remains on his social media account. Any disciplinary action that’s taken will be at the discretion of Fakhar’s decision on whether he accepts the charges or does nothing about it. As of now, no other statement has been heard coming from Fakhar in the case.

In the meantime, the PCB had justified its exclusion of Babar Azam stating that it is a rest before the white-ball series against Australia, Zimbabwe, and South Africa, but after Pakistan’s latest turn in the Test series, it is becoming increasingly difficult to justify Babar’s exclusion. Babar has been in poor form in Tests. For the last 18 innings, he has not scored a half-century although he was said to have been willing to play the ongoing series.

Also, see:

Indian FM Jaishankar Lands in Pakistan to Attend SCO Summit 24

Medical Board Conducts Exhumation of Dr Shahnawaz Kumbhar’s Body

On October 15, 2024, a medical board in Sindh conducted the exhumation of the body of Dr. Shahnawaz Kumbhar, a well-known physician whose sudden and suspicious death has raised concerns about possible foul play. The exhumation took place in the presence of law enforcement officials, as part of an ongoing investigation aimed at uncovering the true cause of Dr. Kumbhar’s death, which occurred under mysterious circumstances earlier this year.

Dr. Kumbhar’s family had demanded a thorough investigation, citing inconsistencies in the initial medical report. Following the family’s request, the Sindh High Court ordered the formation of a medical board to reassess the case. The board, comprising forensic experts and pathologists, is expected to perform a detailed autopsy to determine whether Dr. Kumbhar’s death was due to natural causes or if there were any signs of foul play involved.

The case has garnered significant media attention, with many calling for justice in what is being perceived as a highly suspicious death. Dr. Kumbhar was a respected figure in his community, and his untimely demise has left many unanswered questions. The findings from the exhumation are expected to play a key role in the investigation, potentially leading to further legal action depending on the results of the forensic analysis.

What to Expect at Two-Day SCO Summit in Islamabad

The two-day Shanghai Cooperation Organisation (SCO) summit, which kicked off in Islamabad on October 15, 2024, is expected to be a crucial event for regional diplomacy, focusing on a range of pressing issues including counter-terrorism, economic cooperation, and climate change. As member states like Pakistan, China, Russia, and India gather for discussions, the summit presents an opportunity for nations to strengthen multilateral ties and address common challenges.

One of the primary agendas of this year’s summit is regional security, with a particular emphasis on combating terrorism and extremism. Given the geopolitical tensions across Asia, the SCO’s role in fostering peace and stability is more critical than ever. Member states are likely to discuss cooperative strategies to enhance border security, curb the financing of terrorist networks, and share intelligence.

Additionally, economic collaboration is expected to feature prominently, with Pakistan aiming to leverage its position in the Belt and Road Initiative (BRI) to foster greater economic connectivity. Infrastructure development, trade facilitation, and digital economy are likely to be highlighted as key areas of growth. Climate change, another crucial topic, will also be addressed, particularly regarding sustainable development initiatives and regional efforts to combat environmental degradation.

As the summit unfolds, diplomatic observers are keen to see if it will lead to any breakthroughs in fostering cooperation among member states, particularly in the face of ongoing disputes between India and Pakistan. The outcomes of these discussions will be pivotal in shaping the future of regional partnerships within the SCO framework.

Indian FM Jaishankar Lands in Pakistan to Attend SCO Summit

Indian Foreign Minister S. Jaishankar has arrived in Islamabad to participate in the highly anticipated Shanghai Cooperation Organisation (SCO) summit, which commenced on October 15, 2024. This marks a significant diplomatic visit, as tensions between India and Pakistan remain high. The summit, set to focus on regional cooperation and security issues, has drawn participation from several key countries, including China and Russia, making it a pivotal event for South Asia.

Jaishankar’s visit comes at a critical time, with both nations grappling with a range of bilateral issues, including border tensions and trade disputes. Despite these challenges, the Indian foreign minister has emphasized the importance of regional dialogue and multilateralism, stating that the SCO provides a crucial platform for addressing shared concerns, such as terrorism, economic development, and climate change.

While no formal bilateral talks between India and Pakistan have been scheduled, diplomatic analysts suggest that the summit could open the door for future engagement. The participation of both countries in the SCO underscores their mutual interest in maintaining regional stability, even amid ongoing disputes. Jaishankar’s presence is also expected to draw international attention to India-Pakistan relations, with the global community closely watching for any signs of progress or further tensions during the summit.

IGP Forms Committee to Probe Karachi Press Club Incident

The Inspector General of Police (IGP) in Sindh has announced the formation of a special committee to investigate the recent incident at the Karachi Press Club (KPC), which has raised alarm among journalists and civil society. On October 15, 2024, unidentified individuals stormed the KPC during a peaceful event, allegedly targeting several attendees, including prominent media figures. The incident led to widespread condemnation from media organizations, who demanded swift action against those responsible.

In response to the growing outrage, the IGP has set up a high-level investigative committee tasked with examining the circumstances surrounding the attack, as well as ensuring the safety of journalists and media personnel across the province. The committee, composed of senior police officers, will submit its findings within a week, following a comprehensive review of security footage and witness statements.

This incident has reignited concerns about press freedom in Pakistan, where journalists often face threats and violence in the line of duty. The Karachi Press Club, a historic institution for media professionals, has long been a symbol of free speech, making the attack particularly concerning. Media representatives have called for heightened security at press gatherings and stricter penalties for those who attempt to intimidate or harm journalists. The outcome of the investigation is expected to have significant implications for the future of press freedom and the safety of journalists in Pakistan.

PTI Leader Azeem Lakhvi Resurfaces, Denies Abduction Allegations

In a surprising turn of events, Pakistan Tehreek-e-Insaf (PTI) leader Azeem Lakhvi has resurfaced after being reported missing for several days. Lakhvi’s sudden reappearance has sparked widespread discussion, with his denial of any abduction allegations creating further controversy. Addressing the media in Lahore on October 15, 2024, Lakhvi stated that he had been in hiding due to “security concerns” and vehemently rejected claims that he had been forcibly taken.

This comes amid growing concerns over the safety of political figures in Pakistan, particularly PTI leaders, following the party’s ongoing struggle with legal and political challenges. Lakhvi’s disappearance had triggered protests from PTI supporters, who accused government agencies of involvement. Lakhvi, however, clarified that he had chosen to stay off the radar to avoid any potential threats to his life, and accused certain political opponents of fabricating the abduction narrative to tarnish his image.

With tensions already high, Lakhvi’s statements may further fuel political unrest, especially as the PTI continues to face scrutiny over its leadership and activities. His return is seen as a relief by party members, but questions remain about the circumstances leading to his disappearance and the potential fallout from his claims. The development also places additional pressure on the authorities to investigate the matter thoroughly and ensure the safety of political figures amid Pakistan’s volatile political landscape.

FBR’s Countrywide Crackdown: CFOs of Major Companies Arrested for Rs. 1 Billion Sales Tax Fraud

Federal Board of Revenue (FBR) launched a countrywide crackdown from where five people have been arrested and under this campaign, involved in heavy money laundering crimes. FBR spokesperson Bakhtiar Muhammad confirmed with ARY News that key personalities of important industries have been included in these arrests.

Among those taken into custody is the CFO of a leading battery manufacturer accused of accumulating sales tax fraud of over Rs. 1 billion. Another prominent businessman of Faisalabad was arrested from his suburban residence Fateh Jhang for being the group CFO of a multibillion rupee textile firm accused of millions of rupees of sales tax embezzlement.

A third suspect was also arrested and was, according to the FBR spokesperson, said to be involved in the evasion of billions of rupees in taxes. He, like others, was grilled in the court after it denied the bail requests filed by the suspects.

It forms part of the larger effort by the government to tackle the massive tax evasion problem in Pakistan. Finance Minister Muhammad Aurangzeb has recently revealed that nearly Rs 7,000 billion is lost to the country every year due to tax evasion. He unveiled a resolute “war against tax evaders” underlining a need for reforms to expand the tax net and lighten the burden from the salaried class, which bears the major part of taxation.

The other focus was on increasing the tax-to-GDP ratio to 13.5%. Within this effort, the FBR is focusing on around 2.8 million households that do not file tax returns at present, hoping to ultimately contribute around Rs1.6 trillion to the national economy.

Also, see:

Chinese Premier Li Qiang to Visit Pakistan for SCO Summit, Strengthening Bilateral Ties 24

Breaking news: No more PTI protest in D-Chowk on October 15!

Pakistan Tehreek-e-Insaf has decided to postpone the PTI protest scheduled in D-Chowk, Islamabad, on October 15, ARY News reported. According to details, the political committee of PTI made this decision ahead of the Shanghai Cooperation Organisation Summit, which is scheduled to take place in Islamabad on October 15-16.

PTI Chairman Barrister Gohar Ali Khan said the adjournment was part of an official requisition that Interior Minister Mohsin Naqvi made on behalf of the government. The minister assured PTI as well that the imprisoned party founder Imran Khan would be presented with a medical checkup and also his doctor. “The government had promised that doctors would come to Adiala Jail,” noted Barrister Gohar.

A very prominent reason for the delay by PTI is the Summit SCO, which involved many international high-level leaders such as prime ministers of China, Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan along with other high officials from Iran and India too. It requested that during this summit, proper security arrangements are to be made without interrupting anything that occurs there.

PTI, despite the delay in the protest, continued to express their concerns about Imran Khan’s health. The Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, in a new speech, reemphasized the party’s readiness for future rallies, which PTI requires regarding the demands it has made, mainly regarding the health of the previous.

Minister for Information, Atta Tarar had earlier cautioned that no hassle would be allowed at the SCO Summit and the country has taken measures strictly to ensure the safety of foreign dignitaries. Islamabad was fortified to make sure there was no disturbance, and all the conferences were going to be held smoothly and securely.

Also, see:

Chinese Premier Li Qiang to Visit Pakistan for SCO Summit, Strengthening Bilateral Ties 24