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ISLAMABAD
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STAFF REPORT
HIEF of Army Staff (COAS) General Asim Munir on Wednesday said it was the state’s responsibility to protect the public from the negative implications of social media. According to a statement issued by the staterun PTV on social media platform X, the army chief said: “It is the responsibility of the state to keep the public away from the implications of social media-induced hysteria and fitna.” Addressing a National Youth Convention in Islamabad on Wednesday, where Prime Minister Shehbaz Sharif was also in attendance, the army chief emphasised the importance of safeguarding the nation from the disruptive impact of online platforms. “A strong bond between the people, the government, and the military is the guarantee of Pakistan’s security and development,” General Munir stated. The army chief highlighted the value of an independent state, urging the audience to consider the struggles of those in regions like Libya, Syria, Kashmir, and Gaza. “To understand freedom’s worth, look at their plight,” he said. Addressing the youth directly, he noted, “Knowledge is what sets a person apart.” He also reminded them of the importance of resilience, quoting the Quran, “Do people think that they will be left alone because they say: ‘We believe,’ and will not be tested?” He expressed confidence in the country’s future, pointing out that the “sparkle in the eyes” of the youth is a sign of hope and security for Pakistan. He declared Pakistan’s youth as the na-
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Strong people-govt-militar y bond guarantee of Pakistan’s security and development: COAS Declares youth as the nation’s most valuable asset, vowing, “ We will not let it go to waste”
tion’s most valuable asset, vowing, “We will not let it go to waste.” The army chief concluded his address by reciting a verse from Allama Iqbal: “The fate of nations lies in the hands of individuals; every person is a star in the destiny of the nation.” “I have faith that Allah will grant us a decisive victory against terrorism,” he concluded. General Munir dismissed the narrative of Pakistan’s impending economic collapse, asking rhetor-
ically, “Where are those who predicted Pakistan’s default now?” “Those who were creating the narrative of Pakistan’s default, where are they today?” the army chief said. During a subsequent Q&A session, General Munir addressed concerns about the recent unrest in Parachinar, urging tribal leaders to work together to resolve local disputes. “The people of Khyber Pakhtunkhwa stood like an iron wall against
terrorism along with the Pakistan Army for 22 years. I believe that God will grant us victory against terrorism,” the COAS said. The army chef’s today’s statement was the latest in a long line of warnings from the military about the dangers posed by social media. Over the past couple of years, social media campaigns against the army have escalated, reflecting broader tensions within the country’s political and social
their constitutional limits. If we do so, history will remember us forever otherwise the future generations will never forgive us,” he said addressing the National Youth Convention. The Convention was attended by federal ministers, Chief of the Army Staff General Syed Asim Munir, Chairman of the Higher Education Commission, teachers, vice-chancellors and students from across the country. He said it was the government’s responsibility to equip the youth with modern education, technology and skills to
enable them to change the country’s fate and bring about a ‘revolution’ of progress and prosperity. He said the country’s youth had immense potential as for the last three years, Pakistani students were among the top achievers of the foreign scholarships. Calling the 1973 Constitution a binding force for the nation, he said Pakistani nation also showed unity when the country carried out the nuclear tests in 1998 to make its defence impregnable, setting aside the serious challenges.
United efforts, youth empowerment, imperative for country’s progress: PM ISLAMABAD
STAFF REPORT
Prime Minister Shehbaz Sharif on Wednesday said that youth empowerment and the united efforts by the politicians and the national institutions were inevitable to put the country on the course to progress. “If we resolve to change Pakistan, it will not be too far when the country will emerge as a great nation. Today’s Pakistan and its prevailing circumstances necessitate politicians and national institutions to serve the country unitedly while observing
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fabric. The government, often in tandem with the military, has responded with stringent measures aimed at controlling the narrative and stifling dissent. These measures have led to numerous arrests and legal actions against journalists and social media users accused of spreading “negative propaganda” about the military and the state, resulting in restricted internet access and bans on platforms like X. In recent statements, the military took a harsh line against criticism on social media, with Gen Munir himself warning that it was being used as a tool to spread anarchy and false information targeting the armed forces. The term ‘digital terrorism’ is increasingly being used by the military to describe the use of online spaces by its harshest critics — including PTI activists — whom it accuses of spreading falsehoods. In a wide-ranging speech at a parade held to mark Independence Day, the army chief had blamed foreign powers for a wave of ‘digital terrorism’, which he said aimed to create a gulf between state institutions and the people of Pakistan. Calling anti-terror activities under the umbrella of vision ‘Azmi-Istehkam’ the need of the hour, Gen Munir vowed that elements trying to create such rifts would only reap disappointment.
Govt seeks Rs32t in loans for FY2024-25 g
Success of this borrowing plan is contingent upon the timely approval of the IMF loan and rollover by China
For the fiscal year 2024-25, the estimated gross financing needs of Rs32 trillion represent 26% of GDP, a level considered unmanageable for a country like Pakistan. The borrowing plan indicates that Rs8.5 trillion is required for budget deficit financing, with 92% of this expected to come from domestic sources. Only Rs666 billion, or 8% of budget financing, will be sourced from foreign loans, a significant drop from previous years. Securing timely rollovers of foreign loans, particularly from China, will be challenging. Beijing has
provided $4 billion in cash deposits, $3.9 billion in foreign commercial loans, and $4.2 billion in trade finance facilities, all maturing this fiscal year. The finance ministry also plans to raise an additional $1.2 billion in new commercial debt, but progress has been limited to initial expressions of interest from three foreign banks, with no new deals signed due to high costs. The government also aims to raise around $1 billion through the issuance of Panda Bonds and Green Bonds in international markets. Additionally, the ministry plans to take three budget support loans totaling $800 million from the Asian Development Bank (ADB). These include a $400 million Climate and Disaster Resilience Enhancement Programme, $100 million for Women Inclusive Finance, and $300 million for Domestic Resource Mobilization. The Debt Office cautioned that the Rs32 trillion borrowing plan is subject to changes based on domestic and international macroeconomic conditions and debt market dynamics.
Muhammad Asif on Wednesday backed the PTI founder’s demand for open trial of Faiz Hameed, saying that open trial is vital to expose negative designs of PTI’s founder against the State. PTI had found involved in the attacking on national institutions on May 9, he said while talking to a private television channel. The nation must know about the sinister designs of PTI against the security institutions, he said. If Imran’s case refers to military courts then open trial is necessary to tell the public about PTI’s leader, he said. Separately in a post on X the PTI quoted Imran as saying: “If Gen Faiz Hameed was the central figure in the May 9 conspiracy, then I demand COAS Gen Asim Munir to conduct Gen Faiz Hameed’s trial in an open court.” “Open trial will bring forward the evidence,” Imran purportedly said, adding that he was confident that an open trial would not be held and the “decision would be taken in a closed room”.
ISLAMABAD: Minister for Information, Broadcasting, Culture and National Heritage Attaullah Tarar on Wednesday said PTI founder had meddled in the affairs of Pakistan Army by demanding an open trial of former ex-spymaster. Responding to PTI Founder Imran Khan’s call for open trial of LtGen (r) Faiz Hameed, Atta Tarar regretted that the PTI founder had made multiple attempts to make the matter related to Faiz Hameed controversial. Instead of giving statements in defense of Lt-Gen (r) Faiz Hameed, the PTI founder should better made his position clear in the 190 million pounds case, Tarar said, adding his controversial statements showed that he was suffering from “serious anxiety and uncertainty”. STAFF REPORT
ISLAMABAD
MONITORING DESK
PM set to address UNGA on Sept 26, according to UN’s schedule It will be the second time PM Shehbaz will deliver a speech at UN’s main policy-making organ UNITED NATIONS STAFF REPORT
Prime Minister Shehbaz Sharif is set to address the United Nations General Assembly’s annual General Debate on September 26, according to a provisional list of speakers released by the U.N. on Tuesday. The highlevel debate of the 193-member Assembly’s 79th session will take place from September 24 to 30.It will be the second time Prime Minister Sharif will deliver a speech to the General Assembly — the UN’s main policy-making organ — he last addressed it in 2022. More than 130 world leaders have so far confirmed their participation in the debate, according to Monica Greylay, the spokesperson for the UN General Assembly. They will be addressing international peace and security issues. The provisional list of speakers issued by the UN is not final; the UN regularly updates it in the weeks leading up to the session to account for any changes in attendance, schedules, and speaking slots of leaders, ministers and ambassadors. The Assembly’s 79th session, which actually opens on September 10, will be meeting amid heightening tensions in the world with several active conflicts, including in Palestine, Ukraine and the Sudan. But the Assembly’s heavy agenda also aims to set the stage for building a new global development framework which both protects the planet and promotes equity, justice and prosperity for all people. Brazil, which traditionally opens the debate, will commence the high-level session on September 24.
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The government announced its need for Rs32 trillion in loans for the fiscal year 2024-25, including rollovers from foreign banks and bilateral lenders. According to a news report, the success of this borrowing plan is contingent upon the timely approval of the International Monetary Fund (IMF) loan and China’s willingness to roll over nearly $7.9 billion in debt, including $4 billion in cash deposits and $3.9 billion in foreign commercial loans. The Ministry of Finance’s annual borrowing plan outlines the requirement of Rs8.5 trillion to finance the budget deficit and an additional Rs23.4 trillion to repay maturing debt. The total borrowing requirement excludes Rs2.6 trillion needed by the State Bank of Pakistan (SBP) to meet its obligations, including settling $3.7 billion owed to the United Arab Emirates, $4.2 billion in Chinese trade finance, and $900 million in maturing IMF debt.
PTI founder demands open court trial of ex-ISI chief Faiz Hameed ISLAMABAD
STAFF REPORT
Pakistan Tehreek-e-Insaf (PTI) founder and former prime minister Imran Khan has called for an open court trial of former ISI chief Faiz Hameed, saying that the “matter should not be treated as an internal military issue.” In an informal conversation with journalists, Imran Khan clarified that his association with Faiz Hameed ended with the latter’s retirement, dismissing claims that he maintains contact with the former DG ISI. He questioned how Faiz Hameed, being retired, could benefit him. “General Faiz became insignificant after retirement. How could he benefit me in any way?” he questioned, dismissing the notion that he maintains contact with the former DG ISI. Imran Khan reiterated his demand for a judicial commission to investigate the May 9 incident. OPEN TRIAL VITAL TO EXPOSE NEGATIVE DESIGNS OF PTI’S FOUNDER Meanwhile, Minister for Defence Minister Khawaja
‘Meddling in military’s affair:’ Tarar calls out Imran for demanding open trial of Faiz Hameed
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FinMin expects IMF loan approval by September as Senate reviews critical legislation g
Senate committee debates constitutionality of deposit protection bill amid optimism for IMF loan approval ISLAMABAD
NEWS DESK
Federal Minister for Finance and Revenue, Muhammad Aurangzeb, expressed optimism on Wednesday that the International Monetary Fund (IMF) Executive Board will approve the ongoing loan program by September, signaling positive progress in negotiations. During a session at the Parliament House, chaired by Senator Saleem Mandviwalla, the Senate Standing Committee on Finance and Revenue reviewed the Deposit Protection Corporation Amendment Bill 2024, which is a key benchmark set by the IMF. The meeting was attended by senior officials, including the Governor of the State Bank and the Chairman of the Federal
Board of Revenue (FBR). An in-camera session during the meeting featured a briefing from the FBR Chairman on the officers designated as Officers on Special Duty (OSD) over the past two years. State Bank officials also discussed measures taken to prevent money laundering under the guise of solar panel imports. The review of the Deposit Protection Corporation Amendment Bill 2024 stirred controversy, with Committee member Farooq Naek strongly criticizing the bill as unconstitutional. He argued that the bill, introduced during the interim government, misled the Senate Committee, a point which was countered by Chairman Mandviwalla, who clarified that the bill had been introduced by the previous caretaker
government in January but remains unpassed. The Committee debated whether the newly elected government should reintroduce the bill, ultimately deciding that it should be presented again in the National Assembly on Monday. The Senate Committee also explored issues surrounding digital and plastic currency. Governor of the State Bank, Jameel Ahmed, reported that new currency notes are in development, with the lifespan of plastic notes under evaluation. Senator Shahzaib Durrani voiced support for plastic currency, while Governor Ahmed emphasized that public acceptance would determine its introduction. Senator Mohsin Aziz criticized the 5,000-rupee note, claiming it facilitates cor-
ruption and is often hoarded. The discussion led to assurances from the State Bank Governor that future currency notes would include enhanced security features.
The meeting also addressed the resolution of over 800 consignments of light aliphatic hydrocarbon solvent (HS CODE 2710.1250), where the Department of Explosives ordered the release of tankers after a penalty payment, resolving the issue. Further, discussions touched on the inclusion of provincial representatives on the EXIM Bank Board, aligning with the State-Owned Enterprise Governance and Operation Act 2023, and updates on the Export Finance Scheme’s transition to EXIM Bank, expected to be completed between FY 202428. The session was attended by Senators Farooq Hamid Naek, Sherry Rehman, Syed Shibli Faraz, Mohsin Aziz, Shahzaib Durrani, and Senator Ahmed Khan, along with other senior officials.