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Saturday, 8 March, 2025 I 7 Ramazan, 1446
Rs 20.00 | Vol XV No 242 I 8 Pages I Karachi Edition
PM reaffirMs resolve to further strengthen sino-Pak Jit interrogates Pti leaders about social ‘all weather strategic cooPerative PartnershiP’ media smear campaign
g PM SHEHBAZ EXPRESSES SATISFACTION CHINESE AMBASSADOR CALLS ON PM, DISCUSSES MUTUAL TIES, PROGRESS ON SECURITY OVER POSITIVE TRAJECTORY OF AND COUNTER-TERRORISM COOPERATION BILATERAL STRATEGIC RELATIONS g JIANG ZAIDONG BRIEFS PM ON LATEST DEVELOPMENTS ON PAKISTAN-CHINA BILATERAL COOPERATION g
PM greets Chinese president on successful convening of ‘Two Sessions’ ISLAMABAD
STAFF REPORT
P
ISLAMABAD STAFF REPORT
RIME Minister Shehbaz Sharif on Friday reaffirmed Pakistan’s consistent and unflinching support to China on its core issues, emphasizing that the leadership and peoples of both countries remain determined in their shared resolve to further strengthen the Pakistan-China “All Weather Strategic Cooperative Partnership” and elevate it to new heights. Prime Minister Shehbaz Sharif was talking with Chinese Ambassador in Pakistan Jiang Zaidong who paid a courtesy
call on the Prime Minister here on Friday. While expressing his satisfaction over the positive trajectory of PakistanChina bilateral strategic relations, as manifested by the successful visit of President Asif Ali Zardari to Beijing last month, the Prime Minister thanked China for its longstanding and steadfast support to Pakistan on all its core issues. Progress on security and counter-terrorism cooperation between both countries was also discussed. During the course of the meeting the prime minister conveyed his warm greetings and good wishes to President Xi Jinping and Premier Li Qiang. He also congratulated the Chinese leadership and
Prime Minister Muhammad Shehbaz Sharif on Friday extended his warm congratulations to Chinese President Xi Jinping, Premier Li QIang and the Chinese people on the successful convening of the ‘Two Sessions’ in Beijing. “China is making remarkable progress in achieving its national development goals. We are particularly impressed by China’s modernization under President Xi’s visionary leadership,” the prime minister said in his social media post on X. He emphasized that as “iron brothers” and all weather strategic coopera-
nation, on the successful convening of the “Two Sessions” of the National People’s Congress and the Chinese People’s Political Consultative Conference. The Prime Minister noted with great pleasure that this year marked the tenth anniversary of President Xi Jinping’s historic visit to Pakistan in 2015. In this regard, the Prime Minister issued directions to ensure that this memorable occasion be celebrated in a befitting manner. He also renewed his most cordial invitation to President Xi Jinping to undertake a State visit to Pakistan, at his earliest convenience. During the meeting, the Prime Minister emphasized upon the need for both
Govt debt rises to Rs72.1tr, domestic borrowing surges to Rs50.2tr g
FEDERAL DEBT GROWS BY RS3.2TR IN SEVEN MONTHS; RS91.6BN RAISED THROUGH IJARAH SUKUK AUCTION PROFIT
MONITORING DESK
The federal government’s total debt stock increased by over Rs3.2 trillion in the first seven months of the ongoing fiscal year (FY25), driven mainly by substantial domestic borrowing to cover the fiscal deficit. According to data released by the State Bank of Pakistan (SBP), the central government’s total debt, including both domestic and external liabilities, rose by 4.65% during this period. By the end of January 2025, the overall debt stock had reached Rs72.123 trillion, up from Rs68.914 trillion in June 2024. A major contributor to this increase was domestic borrowing, which surged by 6.5%. The federal government borrowed an additional Rs3.08 trillion
from domestic sources, bringing total domestic debt to Rs50.243 trillion in January 2025. Of this amount, Rs41.825 trillion comprised long-term loans, while Rs8.352 trillion was in short-term loans. External debt, when measured in rupee terms, recorded a marginal increase of Rs126 billion, reaching Rs21.880 trillion in January 2025 from Rs21.754 trillion in June 2024. The SBP reported that the Weighted Average Customer Exchange Rate for the US dollar was Rs278.98 in January 2025, showing a slight rise from Rs278.77 in June 2024. With limited external borrowing, the government has increasingly turned to domestic sources to meet financial obligations. The SBP provided over Rs3 trillion in profits to the federal government during the first half of FY25, offering a financial cushion for buyback opera-
tions of government securities. Additionally, the Pakistan Stock Exchange (PSX) raised Rs91.6 billion for the government through the 19th Auction of GOP Ijarah Sukuk (GIS) held on March 6, 2025. The auction received bids totaling Rs207.9 billion for various GIS instruments, including one-year discounted, three-, five-, and tenyear fixed rental rate (FRR) sukuks, as well as variable rental rate (VRR) instruments. The government accepted bids worth Rs6 billion for the one-year GIS at a rate of 10.999 percent, reflecting a 75-basis-point increase. Further, Rs28 billion was raised through three-year and fiveyear GIS FRRs at rates of 11.49 percent and 11.98 percent, respectively. Additionally, Rs57 billion was secured through a ten-year GIS VRR at 11.547%.
was followed for the arrest and prior intimation was conveyed to the Senate Secretariat. According to the production orders, Chaudhry was currently in the judicial lockup at Kot Lakhpat Jail while Buppi was in the Bahawalpur police’s custody. Gilani summoned both senators to attend the Senate session on Saturday at 11:30am under Rule 84 of the Rules of Procedure and Conduct of Business in the Senate, 2012. “The honourable chairman considers necessary the presence of [Senators Chaudhry and Buppi] during remaining sittings of the current 347th session of the Senate of Pakistan,” the orders read. Recipients of the order, including the interior secretary and Punjab and Islamabad officials, were directed to produce Senators Chaudhary and Buppi “at the commencement of each sitting of the said session” before the Senate Secretariat’s sergeantat-arms, adding that they would be returned to custody after the conclusion of the sitting. Addressing reporters earlier today in Karachi, the Senate chairman said that he had acted “by the book” throughout his 30-year polit-
ical career. “This is not the first time I’ve been a member. I’ve been a parliamentarian for 30 years, and I have served by the book. If I do anything, it is by the book,” Gilani said in response to a question about whether or not he was angry with the government for not acting on his prior production order for Chaudhry. “If an honourable member is in jail, then according to the rules, I can issue a production order,” the chairman said. “If a production order is not enforced, it ruins the environment in parliament,” he added. “I saw talk shows … where people were saying that a member (Buppi) has been picked up,” he added. “I will tell the federal government and the Punjab government to produce him, he should attend parliament. If he does not attend tomorrow, then I will issue a production order.” Meanwhile, Buppi’s media team posted a statement to his X account, calling the arrest “a false case due to political revenge”. “Senator Aon Abbas Bappi has been sent to judicial custody and his bail has been rejected,” the media team said in an update on the lawmaker’s situation.
Gilani ‘again’ issues production orders of two PTI senators ISLAMABAD
STAFF REPORT
Senate Chairman Yousaf Raza Gilani on Friday issued production orders for PTI Senators – Ejaz Chaudhry and Aon Abbas Buppi, asking the authorities to ensure their presence in tomorrow’s (Saturday) Senate session. This was not the first production order issued for Chaudhry, who is imprisoned at Lahore’s Kot Lakhpat Jail. In January, Gilani issued a production order for the PTI senator, who has been incarcerated for the past 19 months, so that he could attend the Senate session on January 14. However, Chaudhry failed to appear in the Senate session. Opposition lawmakers could be seen carrying placards with pictures of the missing senator during the proceedings. Meanwhile, the Senate was informed a day ago that Buppi was arrested on charges of illegally poaching deer in Cholistan. Immediately after the suspension of question hour, Leader of the Opposition in the Senate Shibli Faraz said police had arrested Buppi during a raid at his Multan residence. He wondered whether a proper procedure
tive partners, Pakistan and China will continue to work together closely to further strengthen bilateral cooperation to realize the shared objectives of peace and development. PM condoles demise of Dr Riffat Hussain Meanwhile, Prime Minister Shehbaz Sharif Friday expressed deep grief and sorrow over the sad demise of prominent researcher and senior analyst Dr Syed Riffat Hussain. He prayed for the elevation of ranks of the deceased in Jannah and for the grant of patience to the bereaved family. He said the demise of Dr Riffat Hussain deprived Pakistan of one of the best journalists and researchers.
sides to continue working together closely, to ensure timely implementation and completion of various initiatives and projects under CPEC. The Chinese ambassador thanked the Prime Minister for his kind words and good wishes for the Chinese leadership. He briefed the Prime Minister on the latest developments on PakistanChina bilateral cooperation. While praising the government’s achievements in improving the macro-economic situation in the country, the ambassador affirmed that China would continue to extend its full support and cooperation to Pakistan in the its efforts for national development.
ISLAMABAD
STAFF REPORT
Senior PTI leaders including its Chairman Barrister Gohar Ali Khan, Raoof Hasan and Shah Farman on Friday appeared before a joint investigation team (JIT) recently formed to investigate a smear campaign launched on social media against state institutions allegedly by the PTI. According to sources, the JIT interrogated the leaders for 1.5 hours, questioning them about PTI’s social media handlers. The leaders were also shown all relevant social media posts Barrister Gohar Ali Khan and others were also questioned about party financing. Two PTI finance department members also appeared before the investigators. Finance team submitted complete funding records to the JIT. Later, during a telephonic conversation with Express News, Barrister Gohar said the party respects all institutions and does not want any rift with them. In response to a question, he said he never posted anything against institutions from his account. Talking with reference to his appearance before the JIT, he said the team asked questions in a pleasant atmosphere and showed him some social media posts. “The JIT’s questions will be discussed within the party. We will also discuss social media queries with PTI founder Imran Khan,” he added. A day earlier, the JIT issued notices to senior PTI leaders and workers including Gohar, Salman Akram Raja, Raoof Hasan, Asad Qaiser, Firdous Shamim Naqvi, Hammad Azhar, Aun Abbas, Aliya Hamza, Sheikh Waqas Akram, Kanwal Shauzab, Asif Rasheed, Muhammad Arshad, Sibghat Ullah Virak, Azhar Mashwani, Numan Afzal, Jibran Ilyas, Salman Raza Zaidi, Zulfi Bukhari, Musa Virk, Ali Hasnain and others. According to the notices issued by the Islamabad IG's office, the federal government constituted the JIT under Section 30 of the Prevention of Electronic Crimes Act, 2016. The team, led by the Islamabad inspector general of police, is investigating whether the accused and their accomplices were involved in an organized effort to spread disorder in Pakistan through a malicious social media campaign. The notices, sent to PTI leaders and workers separately, said, "There is sufficient material available with the JIT to suggest the involvement of those summoned or their close acquaintance with the matter under investigation”.