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CJP welcomes AGP’s PTI CHIEF USING ‘ALL TACTICS’ TO DIVERT proposal to review law ATTENTION FROM MAY 9 INCIDENTS: PM curtailing powers
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Friday, 2 June, 2023 I 12 Zilqad, 1444
BLAMES IMRAN FOR DEFAMING LAW ENFORCEMENT AGENCIES
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ISLAMABAD
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SAYS PAKISTAN OFFERS VAST INVESTMENT OPPORTUNITIES FOR JAPANESE COMPANIES
STAFF REPORT
RIME Minister Shehbaz Sharif has said that Chairman PTI Imran Khan is using all possible tactics to divert attention of the public from tragic incidents of May 9. In a tweet on Thursday, he said, “Make no mistake about the evil intent behind Imran Niazi’s latest ploy to defame our law enforcement agencies and police. Yet again, he is making misleading and baseless allegations of the “rights abuses” just to distract attention for his culpability in the tragic events of May 9.” Premier Shehbaz Sharif said that he was not surprised by antics of PTI chief in this connection. Someone who could persistently use foul language against the state institutions, incite people to violence and attack the state symbols and military installations, and bring down martyrs’ monuments, was capable of going to any extreme, he added. The prime minister said that Imran Niazi presided over a disinformation apparatus that deployed fake news methodically to fool the people. “Everything about him is hate, division and lie,” he remarked.
PAKISTAN OFFERS VAST INVESTMENT OPPORTUNITIES FOR JAPANESE COMPANIES: Meanwhile, the Prime Minister said that Japan is a key partner in development and prosperity of Pakistan and Japanese companies should avail the vast investment opportunities offered by Pakistan. This was stated by the prime minister while talking to President Toyota Asia
Joint ACE, police team arrest PTI President Pervaiz Elahi from outside residence LAHORE
STAFF REPORT
A joint comprising personnel of the Punjab AntiCorruption Establishment (ACE) and Punjab Police on Thursday arrested former Punjab chief minister and Pakistan Tehreek-e-Insaf (PTI) President Chaudhry Pervaiz Elahi from near his Lahore residence. Confirming Ch Pervaiz Elahi’s arrest, Punjab Caretaker Information Minister Amir Mir informed that the PTI president was in his vehicle and “trying to flee” when he was arrested. “Yes, he has been arrested from the Zahoor Elahi Road. He was arrested while trying to flee,” the minister told a private news channel. “Several raids were carried out at his residence. He was wanted. Today, out of the blue, a couple of bullet-proof cars came out [of the house]. He was in one of the cars.” Mir said that law enforcers tried to stop and check the bullet-proof cars at a check-post. The minister said that the former chief minister resisted the arrest and was not opening door of his bullet-proof vehicle, therefore, the law enforcers had to break the side mirror of his vehicle. “After resistance, there was an attempt to break the car’s window on the driver’s side. Pervez Elahi sb was inside the car,” he said. The minister emphasised that, during initial attempts to apprehend Elahi, there were significant instances of mismanagement, thus the arrest was made after proper planning today. “The series of arbitrary arrests began in January, and it was then that my father told me that even if they arrest me, we must stand by Imran Khan,” the former chief minister’s son, Moonis Elahi, tweeted shortly after the arrest. He said that his parents had expressed the same sentiments three days ago. “It is being alleged that the police have unlawfully apprehended my father based on false charges. We are, by the grace of Allah, affiliated with PTI and will continue to remain so,” he further said. Various corruption cases have been registered against the former Punjab chief minister, who is accused of receiving kickbacks for awarding several government development projects during his tenure. Earlier, a special judge of an anti-corruption court in Lahore issued non-bailable arrest warrants for the former Punjab CM, ordering authorities to produce him by June 2.
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Yoshiki Konishi and Chief Executive Officer of Indus Motors Ali Asghar Jamali who called on him here on Thursday. Ambassador of Japan to Pakistan Mitsuhiro Wada, Vice Chairman Toyota Indus Motors Shinji Yanagi, Minister for Finance Ishaq Dar, Minister for Industries and Production Makhdoom Murtza Mehmood, Advisor to PM Ahad Cheema, Special Assistants to PM Je-
hanzeb Khan and Tariq Bajwa and high ranking officials attended the meeting. Premier Shehbaz Sharif was briefed that Toyota Indus Motors for the first time established a unit for production of hybrid vehicles in Pakistan with an investment of $100 million. Shehbaz Sharif welcomed the project of Toyota to produce hybrid vehicles in Pakistan. The production of hybrid vehicles in Pakistan would decrease the import bill resulting in saving of precious foreign exchange, he said adding the government was providing all available facilities to the industries for investment in modern technologies in the country. The Japanese ambassador said leading Japanese companies were desirous of further investment in Pakistan. During the briefing, it was told that in the current year from July, Toyota Indus Motors would start export of spare parts of vehicles and these exports would make Pakistan a part of the global supply chain. The PM said exports of spare parts should be enhanced by taking benefit of the capacity of the engineering sector in the country. He said it should be ensured that the spare parts for the vehicles to be sold in Pakistan should be manufactured locally. The participants of the meeting lauded the prime minister for his government’s business friendly policies.
ISLAMABAD
STAFF REPORT
An eight-member bench of the Supreme Court (SC) indefinitely adjourned proceedings against the Supreme Court (Practice and Procedure) Act, 2023 on Thursday after the government sought time to review the law. Heading the bench, Chief Justice of Pakistan (CJP) Umar Ata Bandial “welcomed” the federal government’s proposal to reassess the law as “a very good idea”. Attorney General for Pakistan (AGP) Mansoor Awan appearing before the larger bench stated that there is an overlap in some of the provisions of the Supreme Court (Practice and Procedure) Act, 2023 and SC (Rules and procedures) Bill 2023, adding that the government intended to harmonise them. He also referred to those provisions. “There is some contradiction between the SC (Rules and procedures) Bill 2023 and the revisional jurisdiction extension law,” the AGP said. “There should be harmony in the laws,” the CJ agreed, adding that the SC should be consulted before laws related to the working of its administration are made. “Will the government take the matter back to the parliament,” Justice Mazahar Ali Akbar Naqvi inquired. AGP Awan proposed that the apex court may refer the issue to the parliament for review, which was dismissed by the CJ. “We will not do that,” he said, adding that the bench would consult on the matter. “Another option could be that we continue hearing the case and the parliament continues its review and then we can see who finishes first,” the CJ remarked smiling. Earlier CJP Bandial had formed an eight-judge larger bench to hear petitions filed against the Supreme Court (Practice and Procedure) Bill, 2023, which curtailed the top judge’s powers to initiate suo motu proceedings and constitute benches on his own.
No alternative plan other than IMF: Ms Pasha CONTINUED ON PAGE 03
ISLAMABAD
SHAHZAD PARACHA
Minister of State for Finance Dr Ayesha Ghous Pasha clearly told the Standing Committee on Finance of the National Assembly that Pakistan has no alternative plan other than the International Monetary Fund. Briefing the committee members which met under the chair of Qaisar Ahmed Shiekh, she said that there is no option but to restore the current program. The Minister of State for Finance said that Pakistan has no plan B except the IMF. Pakistan has fulfilled all the difficult conditions of the IMF adding that she said that the IMF had set a condition of obtaining six billion dollars through external financing. Three billion dollars were received from friendly countries. However, the fund officials are of the opinion that Pakistan should get the required amount first, she explained.
She also said that the Prime Minister has assured MD IMF to complete the program while MD IMF has given hope to revive the program. Pasha also said that the ninth review of the program has been completed and now under the tenth review, Pakistan is consulting with the IMF on the budget for the next financial year. The Chairman committee appreciated the government’s clear stance on the IMF program. About the inflation in the country, the State minister for Finance said that the main cause of inflation is the acting governments of Punjab and Khyber Pakhtunkhwa, which are not taking action against hoarding and overselling. The committee expressed displeasure in the absence of the Minister of Finance & Revenue, and deferred “the Companies (second amendment) Bill, 2020 (Ord. No. X of 2020) (Government Bill)”, till his presence in the meeting. The Committee also expressed serious concern on
the absence of the President National Bank of Pakistan and other senior officials for their briefings on the agenda items and decided to take action under the Rules of Procedure and Conduct of Business in the National Assembly, 2007 if they remain absent in the next meeting of the Committee. The Chair observed unnecessary delay in the selection process of the President of some Banks, financial institutions and Members of Board of Directors. The Minister of State for Finance and Revenue assured the Committee of earlier completion of the selection process. The Chair expressed displeasure at the incomplete briefing of the Finance Division on Budget Strategy Paper for the Financial year 2023-24 and desired that the Minister of State will share the Paper with the Committee as soon as it is finalized. The Committee recommended that the Federal Government appoint competent, experienced senior officers of the departments against these vacant positions.
Pervez Khattak steps down as PTI’s KP president ISLAMABAD
STAFF REPORT
The close confidant of Pakistan Tehreeke-Insaf Chairman Imran Khan and President Khyber Pakhtunkhwa chapter of the party, Pervez Khattak on Thursday announced stepping down from the party position. Pervez Khattak made the announcement in a video statement, saying he had taken the decision after “consulting friends.” Khattak, who id the president of PTI’s Khyber Pakhtunkhwa chapter, said he was resigning from the party position and he would decide the future course of action after further consultation with “friends and party workers”. He also said “propaganda” being played on television was “not right” and he had taken the decision after careful consideration. The PTI leader said that he had al-
ready condemned the attacks on military installations on May 9 after the arrest of former prime minister Imran Khan, saying what happened on May 9 was not good for the country and it should not be repeated. He said that it is difficult for him to continue holding the party position in the prevailing political environment of the country that’s why he announced his resignation from the position of president PTI KP. Another party leader Asad Qaiser was also briefly seen in the video but did not speak. Prior to his announcement, PTI General Secretary Omar Ayub had alleged in a tweet that Khattak, along with another party leader Asad Qaiser, had been detained. “Pervez Khattak sahib and Asad Qaiser sahib, senior PTI members and part of the notified PTI negotiation committee, have been detained. They were lured on the pretext of meeting them to conduct negotiations,” he tweeted.
The PTI chairman had also alleged the same, saying that the two leaders “called for a meeting by the intelligence agencies and then illegally detained in a safe house […] to quit PTI for their release”. Earlier in the day, PTI President Pervaiz Elahi was arrested by the Anti-Corruption Establishment (ACE) officials and a police team from his residence, Zahoor Palace, in Lahore. He was shifted to an undisclosed location by the police and ACE teams. The PTI
president was booked in corruption cases in Mandi Bahauddin and Gujranwala. The PTI president’s residence was raided by ACE and police officials multiple times since the cancellation of his bail. Police said that a case was lodged against Pervaiz Elahi under different sections including ATA. They added that he was wanted to police after the bail cancellation. “After ACE, police will take action against Pervaiz Elahi,” they said. Earlier, Pakistan Tehreek-e-Insaf (PTI) leader Amir Bakhsh Bhutto and Allah Bux Unar along with their companions quit the party. While talking to the journalists, Amir Bakhsh Bhutto condemned May 9 incidents and termed the attacks on military installations terrorism. He added that he has already excused from taking part in politics. Meanwhile, former PTI MNA from Multan Muhammad Ibrahim Khan decided to quit politics.
Annual inflation soars to highest-ever level of 38%. How did we get here? g
STAPLE FOODS, TOBACCO AND TRANSPORT TAKE BIGGEST HIT MAKING CONDITIONS GO BAD FROM WORSE FOR COMMON MAN PROFIT
GHULAM ABBAS
In what has been a record studded stint for the Dar-led finance ministry, Pakistan has broken yet another record. This time around it is a 76 year record for highest ever YoY inflation. The CPI index rose by 37.97% (approx. 38%) in May for the first time. Sadly breaking records of underachievement and detriment, also proceeds to break the back of citizens. The already poverty-stricken public of Pakistan sits helpless, as they see the value of their savings amount to nothing over the period of only one year. With 38% in May and a similar figure in June, Pakistan is all set to end FY23 on an average inflation of 30%. This information was made public in the monthly data released by Pakistan Bureau of Statistics (PBS) on Thursday. The alarming figure highlights a continued upward trend in the country’s inflation, surpassing the finance ministry’s already pessimistic projection of 34-36% for the
same period. The ministry had earlier anticipated a gradual decline in inflation due to the expected easing of international commodity prices and its positive impact on countering currency depreciation. According to the ministry of finance, there is more at play than the global commodity prices that has contributed to the increase in prices over the previous year. It includes damages caused by floods, disruptions in supply chains, macroeconomic imbalances leading to currency devaluation, and prevailing political uncertainty. Previously, Pakistan experienced its highest ever year-on-year inflation percentage in April at 36.4%. The measurement of inflation is based on the Consumer Price Index (CPI), which comprises a basket of products and services divided into 12 major components with varying weights. The change in the price of that basket on a monthly and yearly basis hence derives the inflation. Even though the yearly inflation rate is high, the latest data reveals a month-on-month rise of 1.58 % in May. Within this period, the
prices of vegetables, pulses, and chicken witnessed the most significant increases. According to the PBS, the categories with the highest year-on-year increases were alcoholic beverages and tobacco (123.96%), recreation and culture (72.17%), and transport (52.92%). In the food group, notable price hikes in May compared to the previous year were observed in cigarettes, potatoes, wheat flour, tea, wheat, eggs, and rice. In the nonfood category, items such as textbooks, stationery, motor fuels, washing soaps, detergents, and matchboxes saw significant price increases. The Consumer Price Index for urban areas recorded a year-on-year increase of 35.09% in May, while rural areas experienced a higher inflation rate of 42.18%. With the current rise in the CPI, the average inflation for the fiscal year from July to May has reached 29.16%, compared to 11.29% in the previous year. What does 38% mean? Simply put, a 38% inflation means that
the value of 1 rupee is 38% less than it used to be. Meaning that you would have to spend Rs. 1380, to buy something that you would have otherwise bought for Rs. 1000 in May 2022. But it is not as simple. The CPI consists of a number of items, most of which are not an inherent need for those at the lowest level of the Maslow’s hierarchy of needs, i.e. those below the poverty line. Right off the bat, the rural areas, which house the majority of the financially challenged households, have a 4% higher headline inflation rate. Within that, the food inflation amounts to 51.4%. This gets worse if one gets into the details of the food inflation. The rural figures for YoY change in the prices of wheat is 100.5%, for eggs it is 88.3%, for rice 86.3% and for spices is 40.8%. The urban figures for the same items are comparable. These and most of the earlier mentioned, highly affected items are basket goods for household usage. The most vulnerable get hit the most with this inflation onslaught. Especially, when the minimum wage remains stagnant, and unemployment stands at more than 6%. Who to blame? According to the government, the alarming inflationary pressures in Pakistan
have been attributed to the fiscal adjustments demanded by the International Monetary Fund (IMF). These adjustments were necessary to unlock stalled funding. However the fund is still nowhere to be seen. “Pakistan’s economy experienced 0.29% provisional GDP growth in the fiscal year 2022-23 on account of many challenges emanating from the uncertain external and domestic economic environment. Despite attempting to curb inflation by slowing down the economic growth, Pakistan ended up landing at the worst possible outcome, where inflation wasn’t effectively curbed, but the growth was halted. “The challenges triggered CPI inflation to remain on a higher trajectory despite monetary tightening primarily due to the rupee depreciation. External payments also remained burdened due to lesser foreign exchange inflows,” the ministry states, sheepishly in its report. The skyrocketing inflation poses significant challenges for the country’s economy, impacting the purchasing power of consumers and exacerbating socio-economic disparities even further. And the question that still befuddles the average Pakistani is, who should they blame for his economic condition?