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DAR RULES OUT POSSIBILITY OF ANY TALKS WITH MAY 9 PERPETRATORS Saturday, 1 June, 2024 I |23 Zil-Qadah, 1445
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SAYS ATTACKS ON IMPORTANT STATE INSTITUTIONS ARE ‘UNFORGIVABLE ACTS OF REBELLION’
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SAYS STANCE OF FORMATION COMMANDERS’ CONFERENCE MIRRORS SENTIMENT OF EVERY PAKISTANI
Deputy PM, US Ambassador discuss counter-terrorism cooperation ISLAMABAD
STAFF REPORT
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ISLAMABAD STAFF REPORT
day after the formation commanders’ conference, Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday ruled out the possibility of negotiations with people involved in the May 9 violence, asserting that the government was firmly against talks with those who carried out attacks against the state. Addressing the media at the Parliament House, Dar claimed he firmly believe in political negotiation and reconciliation but drew a strict line against actions targeting the state. “In politics, there should always be reconciliation and negotiations, but there will be no talks with whoever stands against the state, even if we have a blood relationship with them,” he asserted referring to the PTI.
Recalling the 126-day sit-in by the PTI in front of Parliament House, Dar noted that it was resolved through dialogue, reaffirming his support for peaceful negotiations. However, he highlighted the severity of the May 9 events, which included attacks on important state institutions such as the GHQ and Jinnah House, adding that they were unforgivable acts of rebellion. “No concessions can be made to the elements involved in the May 9 tragedy. Anyone standing against the state will not be negotiated with, regardless of any personal relations,” Dar stressed. He further emphasised that the stance adopted during the formation commanders’ meeting mirrors the sentiment of every Pakistani. When asked about Justice Athar Minallah’s response to the prime minister’s statement about “black sheep” in the judiciary, Dar sidestepped the issue, sug-
PM Shehbaz to visit China from June 4: FO ISLAMABAD
STAFF REPORT
Prime Minister Shehbaz Sharif will visit China from June 4 to 8 at the invitation of President Xi Jinping, Ministry of Foreign Affairs (MoFA) said on Friday. During the three-segment trip, the prime minister will visit the cities of Xi’an and Shenzhen, besides Beijing, the Foreign Office spokesperson Mumtaz Zahra Baloch announced at her weekly press briefing. She said that Shehbaz Sharif would meet President Xi Jinping and hold delegation-level talks with Premier Li Qiang in Beijing. He will also hold meetings with Chairman of Standing Committee of the National People’s Congress Zhao Leji and heads of key government departments. The spokesperson said that an important aspect of the prime minister’s visit will be meetings with corporate executives of leading Chinese companies dealing in oil and gas, energy, ICT, and emerging technologies. In Shenzhen, Prime Minister Shehbaz will address the China-Pakistan Business Forum with leading businesspersons, entrepreneurs, and investors from both countries. He will also visit Economic and Agricultural Zones in China, she added. The prime minister’s visit to China manifests the iron-clad Pakistan-China friendship characterized by frequent high-level exchanges and dialogue. The two sides will undertake discussions to further strengthen the All-Weather Strategic Cooperative Partnership; upgrade China-Pakistan Economic Corridor; advance trade and investment; enhance cooperation in security and defence, energy, space, science & technology, and education; and promote cultural cooperation and people-to-people contacts, thus setting the future trajectory of Pakistan-China friendship. China awaits Shehbaz Sharif’s upcoming visit The Chinese foreign ministry on Friday said China looks forward to the visit of Pakistan’s Prime Minister Shehbaz Sharif, taking it as an “opportunity to promote greater joint development”.
Rs 20.00 | Vol XIV No 332 I 8 Pages I Islamabad Edition
Deputy Prime Minister (PM) and Foreign Minister Ishaq Dar on Friday met US Ambassador to Pakistan Donald Blome and discussed “mutual priorities”, including counterterrorism cooperation. According to a statement issued by US Embassy, Donald Blome met Deputy PM Ishaq Dar to discuss mutual priorities of the United States and Pakistan. “Both leaders discussed counterterrorism cooperation, Pakistan’s structural economic reforms and efforts to address security, regional and economic challenges,” it said. The US Ambassador reaffirmed the United States support for Pakistan’s ongoing economic reforms and underscored support for expanding businessto-business links and fostering a conducive environment for investors.
gesting that inquiries should be directed to the PM himself. He emphasised respect for the judiciary and stressed the need for all stakeholders to be on the same page to prevent further setbacks for Pakistan. Dar also spoke on the country’s international standing, dismissing claims of global isolation and highlighting positive economic trends. “Pakistan has come out of global isolation, and economic stability is moving
Ambassador Blome also highlighted potential areas for investment and trade opportunities, along with collaboration within the energy, technology, and infrastructure sectors. Earlier in May, Pakistan and the United States (US) underscored the importance of bilateral cooperation in addressing the most pressing challenges to regional and global security, including Tehreek-e-Taliban Pakistan (TTP) and ISIS-Khorasan. Officials of both countries expressed the commitment during the Pakistan-US Counterterrorism Dialogue held in Washington D.C on May 10, stated a joint statement issued. Additional Foreign Secretary for the UN and OIC, Ambassador Syed Haider Shah, and US Department of State Coordinator for Counterterrorism, Ambassador Elizabeth Richard, co-chaired the Dialogue.
in a positive direction. Inflation is decreasing, and the economy is improving,” he declared, hinting at more favourable developments expected from the prime minister’s upcoming visit to China. Answering a question about the budget, he noted the unusual timing of Khyber Pakhtunkhwa’s budget approval before the federal budget. He suggested that the provincial government might need to revise its budget following the federal budget announcement.
PTI rejects FIA’s probe against Imran in ‘social media post’ ISLAMABAD
STAFF REPORT
The Pakistan Tehreek-e-Insaf (PTI) Core Committee strongly rejected the FIA’s probe against PTI Founding Chairman Imran Khan regarding a social media post, calling the possible registration of any fresh case in this regard as totally unjustified. PTI Core Committee meeting held a detailed review of various aspects of the short documentary film released on social media containing the contents of the Hamoodur Rahman Commission Report. The participants demanded immediate release of Hamoodur Rahman Commission Report in order to save Pakistan from 1971 like internal challenges and to learn lesson from history, besides informing the public about the facts and ground realities. The forum noted that in the light of the FIA’s notices issued to the party leadership, the PTI legal team has been entrusted with the responsibility to prepare a detailed legal strategy regarding the documentary film containing the contents of Hamoodur Rahman Commission Report on social media. They reiterated the principled stance of conducting national affairs, especially political affairs within the framework of the constitution and law, adding that Pak
army should also perform its responsibilities of national defense within the constitutional limits. The participants stated that the fall Dhaka was the most tragic tragedy in our national history, and its causes and motivations were political in every respect.
PTI Core Committee recalled that Hamoodur Rahman Commission appointed by the then government of Pakistan, which had mentioned these factors in great detail in its report.
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Imran refuses to meet FIA team
RAWALPINDI: Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan refused to meet the Federal Investigation Agency’s (FIA) cyber crime team in Adiala jail, sources revealed. As per the sources within Adiala jail, the former prime minister refused to become part of the FIA investigation related to his controversial social media post on X, formerly Twitter, without his lawyers. He refused to answer any questions from the FIA team, said the sources. “I will answer any question in the presence of lawyers,” he added. The sources added that the FIA’s probe team took the PTI founder’s response in writing. The development comes after FIA’s cyber crime wing on Thursday decided to initiate action against Khan over his controversial tweet on social media. A post on X was attributed to the former PM, which read: “Every Pakistani should study the Hamood ur Rahman Commission Report and get to know who was the true traitor, General Yahya Khan or Sheikh Mujibur Rahman.” PTI Chairman Barrister Gohar said that the post had nothing to do with Khan as he did not see the text of the posts that were uploaded to his account. “The context and comparison that we drew with 1971 was in a political context and not otherwise — nothing about the army,” the PTI chairman said. On the other hand, the former ruling party also defended the post, saying that the events of 1971 were referred to only as a reminder so people can learn from history as it slammed the criticism. The post on PTI supremo’s account drew severe criticism from all quarters, including Prime Minister Shehbaz Sharif, who said Imran’s true face was finally in front of the nation. STAFF REPORT
COAS, Azeri FM discuss matters of mutual interest, regional peace RAWALPINDI
STAFF REPORT
Foreign Minister of Azerbaijan Jeyhun Bayramov called on Chief of the Army Staff General Asim Munir and engaged in in-depth discussions, according to a statement from the Inter-Services Public Relations (ISPR) on Friday. The two discussed matters of mutual interest, including regional peace and stability. The military’s media wing added that the army chief emphasized Pakistan’s long-standing fraternal ties with Azerbaijan and reiterated the country’s unwavering commitment to providing comprehensive assistance and cooperation in the spheres of defense and security. General Munir also praised the Azeri armed forced for their professionalism. “The visiting dignitary expressed his sincere appreciation for Pakistan’s steadfast support to Azerbaijan and acknowledged the country’s pivotal role in maintaining regional stability.” A day earlier, Pakistan and Azerbaijan resolved to enhance cooperation in multiple sectors including trade, investment, energy and connectivity to exploit bilateral potential further. This commitment was made during a meeting between Deputy Prime Minister and Foreign Minister Ishaq Dar and Azerbaijan’s Foreign Minister Jeyhun Bayramov. In a joint press conference, Dar announced plans to bolster cooperation in trade, investment, connectivity, energy, and defence. He highlighted ongoing efforts to boost bilateral investments, particularly in the energy sector, with a joint working group on energy playing a crucial role. Both leaders also discussed the situation in Gaza, calling for an immediate cessation of Israeli hostilities and the establishment of an independent Palestinian state with Quds Al Sharif as its capital. Dar expressed gratitude for Azerbaijan’s steadfast support on the Kashmir issue and reiterated Pakistan’s support for Azerbaijan’s sovereignty and territorial integrity. The Azeri foreign minister also mentioned that the 8th Pakistan-Azerbaijan Inter-Governmental Commission, set to convene in Islamabad later this year, would further drive economic cooperation.
Govt cuts petrol price by Rs4.74 per litre ISLAMABAD
STAFF REPORT
Amid high hopes regarding a reasonable decrease, the federal government on Friday slashed the price of petrol by Rs4.74 per litre for the next fortnight. After the approval of Prime Minister Shehbaz Sharif, the Finance Ministry reduced the prices of petrol by Rs4.74 per litre and diesel by Rs3.86 per litre. After a reduction of Rs4.74, the new petrol price has been fixed at Rs268.36 per litre. The price of highspeed diesel (HSD) has been decreased by Rs3.86 to Rs270.94 per litre. Earlier in the day, PM Shehbaz Sharif directed the Ministry of Finance to cut the price of petrol by Rs15.4 per litre to provide relief to the general public. The Prime Minister in a statement directed the finance minister to further slash the price of petrol by Rs15.4 per liter and that of diesel by Rs7.9 per liter Earlier on May 15, the federal government slashed petrol prices by Rs15.39 per liter for the next fortnight. According to the details, the Finance Ministry reduced prices of petroleum products after Prime Minister Shehbaz Sharif’s approval. According to a notification issued here, after a reduction of Rs15.39, the new petrol price has been fixed at Rs 273.1 per liter. The price of high-speed diesel (HSD) has been decreased by Rs7.88 to Rs 274.8 per litre. The price of light diesel has been reduced by Rs 7.54 per liter, making the new price Rs 161.17 per liter. The price of kerosene oil has been reduced from Rs 9.86 per liter to Rs 173.48 per liter.
Govt to target lesser inflation and narrower fiscal deficit in FY25 g
ECONOMY REBOUNDED WITH 2.4% GROWTH IN 2023-24; GROWTH TARGET FOR FY25 SET AT 3.6% PROFIT
GHULAM ABBAS
Pakistan’s economy has been facing tough circumstances over the last couple of years. The closing of FY24 marks a rebound in the economy and restores some form of stability to the country. In a detailed briefing at the Annual Plan Coordination Committee (APCC) meeting, the economic performance of Pakistan for the fiscal year 2023-24 was reviewed, alongside the proposed plan for 2024-25. As per details shared by the Ministry of Planning Development and Special Initiatives after the APCC meeting, despite facing considerable challenges at the outset, Pakistan’s economy showed signs of recovery by the end of the fiscal year, achieving a moderate growth rate of 2.4%. Economic Performance in 2023-24 The agricultural sector emerged as the primary driver of this growth, recording an
impressive 6.3% increase. This robust performance was attributed to bumper harvests of key crops such as wheat, cotton, and rice. In contrast, the industrial sector experienced a modest growth of only 1.2%, hampered by a slowdown in large-scale manufacturing activities. Nevertheless, segments like mining and quarrying, small-scale manufacturing, and construction saw positive contributions. The services sector grew by 1.2%, driven by slight improvements in wholesale and retail trade, which expanded by just 0.3%. Similarly, transport, storage, and communications sectors reported a minimal growth of 1.2%, reflecting subdued demand. On the fiscal front, total revenue collection surged by 41% from July to March 2023-24, surpassing the 36.6% increase in total expenditure. Tax revenues rose by 29.3%, while non-tax revenues soared by 89.8%. However, markup expenditure remained a significant burden, constituting
40% of total expenditure. Inflation averaged at 26% during JulyApril 2023-24, a significant number yet a small improvement from the 28.2% recorded in the same period the previous year. A declining trend in inflation has been noted since January 2024, offering some respite to consumers. The external sector faced numerous challenges initially but saw improvements due to the narrowing of the current account deficit, inflows from the International Monetary Fund (IMF) and other foreign donors, and measures taken by the government and the State Bank of Pakistan (SBP). These factors collectively helped stabilize foreign exchange reserves and the exchange rate. Economic Outlook for 2024-25 As per the committee, the economic outlook for 2024-25 appears positive, with a growth target set at 3.6%. This optimism is contingent upon several factors, including political stability, a stable exchange rate, and
continued macroeconomic stabilization under the IMF’s program. Additionally, anticipated decreases in global oil and commodity prices are expected to provide a boost. The agricultural sector, benefiting from a high base effect, is projected to grow by 2%. The industrial sector is expected to recover, with a targeted growth of 4.4%, supported by a predicted 3.5% increase in large-scale manufacturing. Enhanced inputs and energy supplies, bolstered by lower global oil and commodity prices, are expected to drive this growth. The services sector is also forecasted to expand by 4.1%, supported by the expected growth in commodity-producing sectors. Investment is anticipated to rise, with the total investment-to-GDP ratio expected to increase from 13.1% in 2023-24 to 14.2% in 2024-25. This improvement is attributed to the expected economic turnaround, a better business environment, and political stability. National savings are targeted at
13.3% of GDP. Fiscal consolidation measures are expected to narrow the fiscal deficit, while domestic average inflation is projected to moderate to 12%, driven by falling global inflation. A detailed plan for said measures is expected to be announced in the upcoming budget. Meanwhile, APCC also approved the Public Sector Development Program (PSDP) at Rs 1221 billion for the upcoming fiscal year 2024-25. The APCC noted that Ministries/Divisions initially requested Rs. 2.8 trillion for projects. However, due to fiscal constraints, the essential funding requirements were discussed with the Ministry of Finance. Consequently, the provisional size of the PSDP was set at Rs. 1221 billion. The formulation of the PSDP faced several challenges, including rising throw-forward, additional demands and provincial projects of devolved nature.
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