In partnership with
Profit
SC EXTENDS STAY ON LAW CLIPPING CJP’S POWERS ’TILL FURTHER ORDERS’ Friday, 5 May, 2023 I 14 Shawwal, 1444
T g
COURT SEEKS COMPLETE RECORD OF DEBATE OVER LAW BY MAY 8 ISLAMABAD
in response to identical pleas challenging constitutionality of the Act, the top court directed attorney general for Pakistan to submit record pertaining to debates of the
Govt considering restoration of RD on vehicles, mobile phones
Anti-smuggling operations result in seizure of commodities worth Rs.754bn in the last four days
ISLAMABAD
Staff RepoRt
The Federal Government is considering restoration of regulatory duties on vehicles and mobile phones. Federal Board of Revenue (FBR), Chairman, Asim Ahmad was talking to the media after the visit to the headquarters of the Directorate General of Customs Intelligence on Thursday. He said that the Ministry of Commerce imposes regulatory duties on vehicles and mobile phones. According to the FBR Chairman, the time-bound SROs dealing with the RDs on cars and mobile phones expired on March 31, 2023 and therefore RDs were automatically withdrawn from these items at the import stage. The government in August last year had imposed RD on 750 items including vehicles and mobile phones to curtail imports. Later on, the government extended the RD on 749 items excluding Electric Vehicles till March 31, 2023 and after expiry of this date, the Ministry of Commerce had not extended the date. Sources said that the Ministry of Commerce cannot impose RD for an indefinite period. This was a temporary measure. He said that the Tariff Policy Board decides imposition of RD on items and based on the recommendation of TPB, and FBR issues the SRO. Currently, there is no chairman of NTC so that’s why no meeting of TPB has been held in recent days. The other members of TPB are Commerce Minister, with Minister for Industries & Production, Secretary Finance, Secretary Revenue, Chairman FBR, Secretary Commerce, Secretary Board of Investment. Sources said that if the government decides to impose RD on Cars or mobile phones then TPB will give recommendations and there is no meeting expected during this week. Meanwhile, the DG I&I Customs on Thursday briefed FBR Chairman Asim Ahmad on the anti-smuggling operations which were conducted by the Directorate General of Intelligence & InGovt considering restoration of RD on vehicles, mobile phones
ISLAMABAD
Staff RepoRt
National Assembly, of the joint sitting of the two houses and of the relevant standing committee in which the provisions of the act were discussed.
Cabinet approves MoU for bilateral political consultations with Ethiopia ISLAMABAD
ahmad ahmadani
The federal cabinet has approved the signing of a Memorandum of Understanding (MOU) for Bilateral Political Consultations (BPC) with Ethiopia, as part of its efforts to improve relations with African countries. The BPC mechanism will provide directions and substance to the relationship, maintaining a steady momentum to review bilateral cooperation and consultations on important bilateral, regional, and international issues of mutual interest and concern. According to sources in foreign ministry, the federal cabinet, through circulation of summary, has granted its necessary approval to sign MoU for BPC with Ethiopia. Pursuant to Rule 16 (1) (h) of the Rules of Business 1973, approval of the Cabinet is solicited for signing of the MoU to establish BPC mechanism with Ethiopia. “Draft MoU has been mutually agreed by both sides and has also been duly vetted from Law & Justice Division. Signing of the MoU would certainly add positive and substantive value to our ties with Ethiopia,” said sources. The Foreign Minister has seen and authorized the submission of this summary before the cabinet, they added. The sources informed that the Ethiopian
The Supreme Court on Thursday clarified that talks between the government and the Pakistan Tehreek-i-Insaf (PTI) regarding the simultaneous holding of general elections for all provincial and national assemblies were not influenced by any direction or order from the apex court. In a written order issued Thursday, the apex court emphasised that the decision-making process behind the proposed electoral changes was entirely up to the involved parties, and that the judiciary had no role in these negotiations. The court stated that the talks between the two sides were “entirely to be their own effort, without any direction or order of the court in this regard in any manner.” The Supreme Court has fixed further hearing of matters related to general elections tomorrow (Friday) at 11:30am. The written order comes as the issue of elections has once again landed in the apex court following the failure of talks between the coalition government and the opposition PTI.
The bench directed the federation through attorney general for Pakistan saying, “The learned Attorney General shall place on record before the next date of hearing the debates of the National Assembly, of the Joint Sitting of the two Houses and of the relevant Standing Committee in which the provisions of the Act were discussed”. The bench also issued notices to respondents in response to three identical petitions filed in the matter saying, “We are informed that three fresh constitution petitions (No.10 to 12 of 2023), seeking essentially the same relief as constitution petitions no.6 to 8 of 2023, have also been filed. In the interest of justice, notices are issued to the respondents in these petitions”. The court’s order did not mention the objection of the Pakistan Bar Council regarding the eight-member bench. However, the court has directed both parties to submit a comprehensive response by May 08.
Pakistan decides to enhance relationship with African countries
g
Top court distances from failed govt-PTI talks
SC ISSUES NOTICES TO RESPONDENTS OF THREE IDENTICAL PETITIONS
tLtp
HE top court on Thursday decided to continue its stay order against implementation on the Supreme Court (Practice and Procedure) Act, 2023 “till further orders” and sought complete record pertaining to debate over the legislation in the concerned forums by May 08. It is pertinent to mention that earlier, during hearing of the matter on May 02, an eight-member larger bench of the top court has resumed hearing of the pleas and being head of the bench, the Chief Justice of Pakistan Umar Ata Bandial observed the court’s latest order suspending the act was provisional in nature. Issuing a four-page order on Thursday relating to hearing of the matter on May 02
g
g
Rs 15.00 | Vol XIII No 305 I 8 Pages I Islamabad Edition
BRR Guardian Limited announces merger with BRR Guardian Modaraba g
Deputy Prime Minister/Foreign Minister Demeke Mc konnen is set to visit Pakistan in May 2023 to inaugurate Ethiopian Airlines’ flight between Addis Ababa and Karachi, which will directly connect Pakistan with Ethiopia and the rest of Africa. The visit will also mark the formal inauguration of the Ethiopian Embassy in Islamabad, which became functional in July 2022, said sources. The signing of the MOU is expected to add positive and substantive value to Pakistan’s ties with Ethiopia and other African nations, crucial in protecting and promoting Pakistan’s interests both bilaterally and at global and multilateral platforms, sources added As per sources, the government’s “Engage Africa” policy focuses on revitalization and qualitatively enhancing political, diplomatic and trade ties with the African continent. The continent is the world’s largest geographic and political bloc. Fostering good relations with African countries is crucial in protecting and promoting our important interests both bilaterally and at global and multilateral platforms (in the UN where all 54 African States are voting members whereas in OIC 26 out of 57 members are African nations, in Commonwealth 21 out of 56 members are African countries and 49 African states have membership out of total 134 members at G-77).
CONTINUED ON PAGE 03
Formed in 1983, B.R.R. Investments (Private) Limited (BRRI) aimed to promote leasing investments in Pakistan KARACHI
pRofit RepoRt
BRR Guardian Limited delightfully broke the news of a merger with BRR Guardian Modaraba, to the Pakistan Stock Exchange (PSX). It was announced after a decision of the Sindh High Court approved the merger. What does BRR Guardian Modaraba do? Formed in 1983, B.R.R. Investments (Private) Limited (BRRI) aimed to promote leasing investments in Pakistan. They introduced two Modarabas in 1985 and 1990. A modaraba is one of the prime codes of the Islamic Financial System. BRRl was also a sponsor of Equity International Modaraba (ElM), which was launched in 1993. Later, the International Finance Corporation (IFC) joined as an equity partner in 1999. In 1998, B.R.R. Second Modaraba and Equity International Modaraba merged with B.R.R. Capital Modaraba and it was renamed B.R.R. International Modaraba. Guardian Modaraba merged with B.R.R. International Modaraba in 2006 and Crescent Standard Modaraba merged in 2017.
CONTINUED ON PAGE 03
Eight, including five teachers, gunned down in Parachinar PARACHINAR
Staff CoRReSpondent
At least eight people, including five teachers, were killed in separate incidents of firing in the Parachinar area of Khyber Pakhtunkhwa’s Kurram district on Thursday, police said. Upper Kurram District Police Officer (DPO) Muhammad Imran told media that the first shooting incident took place on a road near the Shalozan area and the second at Teri Mengal School at a distance of around six kilometres from the site of the first incident. Later, he said while speaking to the media that one person, a teacher, was killed in the first incident and seven in the school shooting. He added that those killed at the school included four teachers and three drivers. Separately, Rescue 1122 official Syed Ghayyur Hussain said that bodies of the school shooting victims were taken to district headquarters hospital,
Parachinar. DPO Imran told the media that measures were being taken and negotiations being carried out with tribal leaders to bring the situation back to normalcy after the attacks. He said the Kohat division deputy inspector general of police and commissioner had reached Parachinar after the incidents, adding that security had been beefed up and routes blocked in the areas. The official said a probe into the incidents was under way. Earlier, Zahid Hussain, a representative of the Teacher Union, said that they had decided to keep schools in the area closed until the culprits were caught. Staging a protest outside the Parachinar Press Club, he urged teachers across KP to close schools from tomorrow. In another incident in Parachinar, which falls in Upper Kurram and is the capital of Kurram district, a man was
killed whilst in a moving vehicle — taking the total number of educators killed in a day to eight. The man, named Mohammad Sharif, who was killed inside the car, said the police. He was shot while he was travelling on Shalozan Road. The police are searching for the killers, but have not been able to track them down so far. School shootings are rare in Pakistan. Over 140 people, mostly students, were killed in a gun-and-bomb attack at an army school in Peshawar in December 2016. Matric Board examinations have been deferred for an indefinite period in Parachinar for now, announced the chairperson of Kohat’s education board, Samina Altaf. “The students inside the examination centre remained safe,” she said. The chairperson further informed that board examinations in the rest of Kurram district and areas will be held as per schedule.
Four days ago, tens of thousands of people took to the streets to protest against the ever-deteriorating law and order situation in Lakki Marwat district of KP. A large number of local residents including political workers of all parties, civil society, lawyers and students participated in the protest. The call for protest was given by Olasi Pasawon Lakki Marwat after terrorists attacked a local college where the army was camped. State broadcaster Pakistan Television Corporation reported that Prime Minister Shehbaz Sharif condemned the incidents and had sought a detailed report from relevant authorities on the attacks. Separately, Interior Minister Rana Sanaullah said in a tweet that he, too, had sought a report from the interior secretary and assured that the perpetrators would be punished.
CONTINUED ON PAGE 03
Has Pakistan complied with all prior actions of the IMF? g
The board demands yet another interest rate hike, as per reports ISLAMABAD:
Staff RepoRt
Finance Minister Ishaq Dar has once again claimed that Pakistan has complied with all the prior actions for the 9th review with the IMF. The Finance Minister on Thursday mentioned in his article that Pakistan has already carried out all the required reforms for the 9th review with the IMF. These reforms include measures to broaden the low tax base by ending tax exemptions, raising the electricity and gas prices to pass on the burden to the consumers and minimizing
the subsidy component while protecting low-income groups. Ishaq Dar mentioned in his article that the government has accomplished significant structural reforms in the energy sector during the last 3-4 months. All untargeted subsidies in the power and gas sector have been withdrawn with the aim of recovering the full cost of generation through tariff revision. In addition, the government has moved towards targeted subsidies so that the poor and vulnerable are cushioned from the effects of inflation and rising prices while the burden falls on the affluent class.
Moreover, the government has increased the stipend for the poorest of the poor by 25 per cent under the Kafalat Programme under BISP with effect from January 1, 2023 — increasing the BISP budget by Rs40 billion to Rs400 billion. The government is also taking all possible measures to correct the twin deficits, including policy and administrative measures. As a result, the Current Account Deficit (CAD) narrowed to only $3.4 billion during the first nine months of the current fiscal year to March 31, 2023, as against $13.0 billion in the corresponding period last year.
It is expected to close the CAD around $4.5 billion in the current fiscal year ending June 30, 2023. This will help improve the country’s forex reserves and reduce reliance on external borrowings. Ishaq Dar said that the government has gradually withdrawn all tax exemptions as agreed with the IMF. The government is mindful of the fact that these exemptions not only create distortions in the tax system but also lead to a shortfall in the revenue targets. Third, net federal revenues have witnessed a growth of 32 per cent during the first eight months to February 28, 2023, of the current fiscal year against the same period of the last year. He said that the current non-markup ex-
penditures have been reduced by 19 per cent, mainly due to the withdrawal of subsidies and grants. The SBP has been independently taking its decisions for monetary policy tightening in order to curb inflation in the country. He again claimed that the Staff Level Agreement (SLA) will be signed soon with the IMF which should be followed by the approval of the 9th review by the IMFBoard. However media reports suggest that the IMF is still not content with the progress made by Pakistan. As per reports, it is expected off of Pakistan to increase the interest rate further to target its inflation. The headline inflation for last month crossed 36%, making situations worse for a common citizen.