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grants income tax PM SHEHBAZ LAUNCHES CASE MANAGEMENT Govt exemptions to ICC for Champions Trophy 2025 SYSTEM TO MODERNISE JUDICIARY Saturday, 22 February, 2025 I 23 Shaban ul Moazzam, 1446
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INITIATIVE AIMS TO PROVIDE TRANSPARENT, EFFICIENT, AND SWIFT JUSTICE TO LITIGANTS
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STRESSES THE NEED FOR COLLECTIVE EFFORTS TO TRANSFORM PAKISTAN
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ISLAMABAD
N a significant step towards modernising Pakistan’s judicial system, Prime Minister Shehbaz Sharif launched the Case Assignment and Management System on Friday. This initiative aims to provide transparent, efficient, and swift justice to litigants across the country. Addressing the launch event here on Friday, the PM stressed that the system was long overdue, as citizens nationwide had been calling for more transparent and faster judicial processes. He expressed confidence that the new
system would go a long way in addressing the grievances of the public, ensuring justice is delivered in a timely manner. PM Shehbaz highlighted the massive waste of resources over the years due to corruption, collusion, and a lack of modern technological solutions within the judicial system. He stressed the need for collective efforts to transform Pakistan and recover the losses incurred in the past, which would eventually lead to future benefits for the country. Referring to his recent meeting with the Chief Justice of Pakistan (CJP) Yahya Afridi, the PM mentioned his request for speedy, merit-based decisions
PTI leadership urges CJP ‘not to pack courts’ ISLAMABAD
STAFF REPORT
PTI leaders said they met Chief Justice of Pakistan (CJP) Yahya Afridi on Friday and urged the top justice to sort out issues in the judiciary and not to pack the Supreme Court (SC) with judges. After the arrival of new eight Supreme Court judges, CJP Afridi on Monday had reshuffled several committees which had been constituted to distribute different responsibilities among judges of the top court. The process of the new judges’ appointment was one fraught with controversy as four apex court justices had urged CJP Afridi earlier this month to hold off on the new appointments until challenges to the 26th Constitutional Amendment were resolved, in particular pointing to the possibility of a public perception of court-packing being generated. The PTI had also previously urged CJP Afridi to postpone the process. However, defending the judicial appointments, CJP Afridi had rejected accusations of court-packing, arguing that SC judges were now hearing between 30 and 40 cases a day, significantly more than the previous workload of 12 cases per day. Addressing a press conference with other PTI leaders in Islamabad about today’s meeting with the top judge, Latif Khosa said the delegation told the CJP to “get his house in order”. “Judges of the Supreme Court are repeatedly writing that first the [petitions against] the 26th amendment should be decided and until then don’t do any court-packing. We used this word of courtpacking that this is happening which coming generations of ours will suffer the results of this so that is why we said first please sorten out your house.” Khosa referred to the representation and petition from five Islamabad High Court judges concerning the seniority row in the high court and called on the CJP to give due attention to the matter. “The people are awaiting injustice. A regime based on heresy and disbelief might be able to continue but one based on injustice cannot.” Leader of the Opposition in the National Assembly Omar Ayub said he had received a call for a meeting from the CJP’s office after which he took permission from party founder Imran Khan. He said Imran had instructed him to specifically raise the matter of the military court trials with the CJP. Elaborating on the points discussed with the top judge, Ayub said the issues of Imran and his spouse Bushra Bibi’s court dates, lack of access of PTI leaders, lawyers and relatives to the couple and the treatment being meted out to the former prime minister in prison were raised, Ayub mentioned that the status of other incarcerated PTI leaders and workers, missing persons and abducted party supporters were also discussed with CJP Afridi.
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Govt to make economy cashless along with reforms in FBR: PM STAFF REPORT
STAFF REPORT
Rs 20.00 | Vol XV No 228 I 8 Pages I Karachi Edition
Prime Minister Shehbaz Sharif has said the government is taking steps to make the economy cashless along with reforms in the FBR. He was talking to a delegation of Pakistan Retail Business Council in Islamabad on Friday. Shehbaz Sharif directed the formation of a committee to address the issues of retailers, assuring that no additional tax burden will be put on those retailers who are already in the tax net. Shehbaz Sharif said steps are being taken on a priority basis to bring all the retailers who do not pay taxes into the tax net.
in pending cases. Earlier this week, the premier had visited CJP Afridi’s residence to discuss the agenda for the upcoming National JuPolicymaking Committee dicial (NJPMC) meeting. In his speech, PM Shehbaz also committed to recovering every penny owed to Pakistan, ensuring it would be used for the betterment of the nation’s people. He thanked all stakeholders, including international partners like the United Nations (UN) and Canada, for their support
The Prime Minister mentioned that efforts are being intensified to curb smuggling under the guise of used goods. He urged local industries to adopt innovation and modern technology in order to enhance their exports and compete in the international market. The delegation commended the government for bringing economic stability. Describing government’s reforms as encouraging, the participants expressed the confidence that these will have far reaching impact on the economy. The delegation noted that bringing retailers into the tax net will enhance revenue. The delegation was appreciative of government’s efforts to address the issues of the retailers who are already part of the tax net.
in designing and providing financial assistance for the development of the Case Assignment and Management System. Troels Vester, the Country Representative of the United Nations Office on Drugs and Crime (UNODC), also spoke at the ceremony, expressing full support for the Pakistani government and the Ministry of Law and Justice in introducing modern technology to enhance governance. He praised the leadership of PM Shehbaz for spearheading reforms aimed at modernizing Pakistan’s judicial system.
COAS visits Warminster, Larkhill Garrisons in UK RAWALPINDI
STAFF REPORT
Army Chief General Syed Asim Munir, who is on a visit to the United Kingdom, visited Warminster and Larkhill Garrisons. The Army Chief was briefed on the modernization plan of British Army and Deep Recce Strike Brigade. Niche technologies including AI and uncrewed systems were also showcased by the British Army during the visit. The Army Chief had a field visit to Warminster and Larkhill Garrisons at the invitation of General Roland Walker, Chief of General Staff of UK Army. “Niche technologies including AI and uncrewed systems were also showcased by the British Army during the visit,” the ISPR statement said. General Syed Asim Munir was in the UK to participate in the 7th Regional Stabilization Conference
ISLAMABAD
Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari has stated that Pakistan cannot afford another martial law. He emphasized that his mother, Benazir Bhutto, taught him the values of democracy rather than revenge, which is why he firmly believes that “Democracy is the best revenge.” Speaking at the Benazir Bhutto Memorial Lecture organized by the Oxford University Union, Bilawal highlighted the significance of democratic values, human rights,
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The Economic Coordination Committee (ECC) of the federal cabinet approved income tax exemptions for the International Cricket Council (ICC) in connection with the ICC Champions Trophy 2025 ongoing in Pakistan. According to a summary by the Revenue Division, these exemptions align with international best practices for hosting global sports events. The ECC met on Thursday under the chairmanship of Minister for Finance and Revenue, Senator Muhammad Aurangzeb, at the Finance Division, Islamabad and was attended by Minister for Petroleum Musadik Masood Malik, Minister for Industries and Production Rana Tanveer Hussain, Chairman FBR, Chairman SECP, Federal Secretaries, and senior officers from concerned ministries and divisions. Under the standardised hosting rights agreement between ICC and Pakistan, no taxes or deductions will be applied to ICC revenues, its subsidiaries, associates, officials, and non-resident delegates. However, Pakistani residents, including the Pakistan Cricket Board (PCB), will remain subject to income tax on their earnings from the tournament. There will also be no exemptions from Sales Tax and Federal Excise Duty (FED). The tax exemption is not expected to result in a revenue loss, as it was a prerequisite for securing the tournament’s hosting rights. The committee deliberated on important economic matters and approved key decisions.
SBP injects Rs1.75t into banking system via open market operation g
LIQUIDITY BOOST INCLUDES RS 1.45TR THROUGH REVERSE REPO AND RS 305BN VIA SHARIAH-COMPLIANT MODARABAH OMO PROFIT
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at the esteemed Royal Military Academy Sandhurst, where he will deliver the keynote address on “The Emerging World Order and Pakistan’s Future Outlook.”
The Stabilization Conference serves as the premier platform for Army-to-Army dialogue between Pakistan and the United Kingdom, held annually to foster collaboration.
and the role of women in Pakistan. He praised his mother for fearlessly participating in politics despite facing immense challenges and restrictions against women in leadership roles. He further stated that Benazir Bhutto paved the way for women in leadership, and today, Punjab also has a female chief minister. He reiterated that her life was dedicated to securing a better future for Pakistan, despite multiple assassination attempts against her. Bilawal Bhutto Zardari asserted that Pakistan’s future depends on the supremacy of the constitution, an independent judi-
ciary, and a free press. He also criticized the National Accountability Bureau (NAB) laws, calling them “draconian”, and reaffirmed that PPP continues to oppose them. The PPP chairman expressed concern over the security situation in Balochistan, calling it alarming and in need of urgent attention. He also reiterated that Pakistan’s nuclear assets are for national defense and will not be compromised under any external pressure. Bilawal also highlighted the progress made by the PPP government in Sindh, particularly in improving healthcare facilities, which he described as a model for other provinces.
Pakistan cannot afford another martial law: Bilawal Bhutto STAFF REPORT
NO TAXES OR DEDUCTIONS WILL BE APPLIED TO ICC OR ITS OFFICIALS’ REVENUES; PCB, PAKISTANI PLAYERS AND OFFICIALS WILL REMAIN SUBJECT TO INCOME TAX AND FED
The State Bank of Pakistan (SBP) conducted an Open Market Operation (OMO) on Monday, injecting a total of Rs1.75 trillion into the banking system to address liquidity needs. The intervention included Rs1.45 trillion through conventional reverse repo OMO, while an additional Rs305 billion was provided via Shariah-compliant Modarabah-based OMO. OMO is a key monetary policy tool used by the central bank to regulate liquidity in the financial system. Through this mechanism, SBP either injects funds to ease liquidity constraints or mops up excess liquidity to stabilise monetary conditions. The latest injection suggests an effort to maintain banking sector stability amid ongoing economic challenges. In the conventional reverse repo operation, the SBP accepted Rs1.45 trillion for a seven-day tenor at a rate of 12.07%. No funds were injected for the 28-day tenor. Meanwhile, in the Shariah-compliant Modarabah-based OMO, the central bank injected Rs305 billion, also for a seven-day tenor, at a rate of 12.09%. OMO transactions play a crucial role in Pakistan’s banking system by ensuring sufficient liquidity for financial institutions while preventing excessive money supply that could drive inflation. In an OMO Injection, the SBP provides liquidity to banks by lending against eligible collateral, which includes government securities such as Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs). Conversely, in an OMO Mop-up, the SBP withdraws excess liquidity by selling MTBs to banks, reducing the money supply in the system. By balancing liquidity, SBP aims to stabilise short-term interest rates and maintain monetary control in line with broader economic objectives. This significant liquidity injection comes at a time when financial markets are navigating macroeconomic uncertainties, reflecting the central bank’s proactive stance in managing monetary conditions.
IMF urges Pakistan to expand tax base as weak revenue generation strains economy g
CERTAIN SECTORS CONTRIBUTE LITTLE TO THE NATIONAL EXCHEQUER, PLACING AN EXCESSIVE BURDEN ON SALARIED INDIVIDUALS, SAYS IMF RESIDENT CHIEF PROFIT
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The International Monetary Fund (IMF) has stressed the need for broad-based tax reforms in Pakistan, highlighting the country’s weak revenue generation and over-reliance on the formal sectors for taxation. Speaking at the “Retail Reimagined: Innovate, Collaborate & Thrive” conference, IMF Resident Chief Mahir Binici noted that certain sectors contribute little to the national exchequer, placing an excessive bur-
den on salaried individuals and businesses operating in compliance with tax laws. Finance Minister Muhammad Aurangzeb echoed these concerns, pointing out that Pakistan’s retail sector accounts for 19% of GDP but contributes just 1% in taxes. He warned that the current tax structure, where the formal sector subsidizes tax evaders, is unsustainable. The government, he said, is committed to enforcing compliance, particularly in agriculture, wholesale/retail, and real estate—sectors that have long avoided taxation.
Aurangzeb also announced that artificial intelligence (AI) would be deployed to enhance tax collection, targeting the Rs9.4 trillion in cash circulation outside the formal economy. He acknowledged that bringing undocumented businesses into the tax net will take time, but emphasized that the government is firmly moving in that direction. On Pakistan’s economic outlook, the finance minister said macroeconomic stability had improved, with a stable currency, higher foreign exchange reserves, lower inflation, and a sharp drop in
KIBOR from 23% to 11%. He added that foreign investors were regaining confidence, as capital inflows in both debt and equity markets increased. At the conference, Chainstore Association of Pakistan (CAP) Chairman Asfandyar Farrukh noted that only 10% of the retail sector is in the tax net, while 90% remains undocumented, making it difficult for compliant businesses to compete. Meanwhile, State Bank of Pakistan (SBP) Deputy Governor Saleem Ullah announced that Pakistan’s digital payment
system would be fully implemented within five years, while FBR Member Legal Mir Badshah Wazir shared that 12,249 Tier-1 retailers are now linked to the Point of Sale (POS) system, generating 660 million receipts last fiscal year. Wazir admitted that the Tajir Dost Scheme (TDS) had failed to meet expectations, but policy measures had led to an increase in tax return filings from the retail sector. FBR Member Inland Revenue Operations Hamid Ateeq Sarwar stated that although IMF conditions led to the withdrawal of tax concessions for Tier-1 retailers, a lower tax rate could be considered if no input adjustments were claimed—subject to IMF approval.