Latest News in Brief(Pakistan):
MUSHARRAF ANNOUNCES PARTY MANIFESTO TODAYISLAMABAD: Former president retired Gen Pervez Musharraf will announce the manifesto of his All Pakistan Muslim League (APML) party for the upcoming elections on Monday.
According to APML’s Central Information Secretary Aasia Ishaque, the former military ruler would also announce the party’s candidates from Punjab and Khyber Pakhtunkhwa.
Gen Musharraf presided over a meeting of the APML’s parliamentary board at his heavily-guarded Chak Shahzad Farm House on Sunday, said a party spokesman. It is not clear how many seats the party would field its candidates for, but the spokesman claimed that the party had received about 600 applications from all over the country for the APML’s ticket.
Addressing a news conference in Karachi after his return from self-exile late last month, Gen Musharraf chief had announced that his party would field candidates from all the four provinces.
The general had himself filed nomination papers from four constituencies of the National Assembly, NA 32 Chitral, NA 48 Islamabad, NA 139 Kasur and NA 250 Karachi.
The returning officers in Islamabad, Kasur and Karachi rejected his papers on the basis of articles 62 and 63 of the constitution for his act of imposing emergency in 2007 and for keeping judges under unlawful detention. Besides, the former military ruler has been accused of not disclosing his source of income in his nomination papers in which he declared his assets worth more than Rs760 million.
Although the returning officer in Chitral accepted Gen Musharraf’s nomination papers on the grounds that he had not been convicted in any case, his plan to contest polls could still be jeopardised as the returning officer’s decision has been challenged in the high court.
Team to visit Washington for talks with
IMF, US officials
ISLAMABAD: With the State Bank of Pakistan raising concern over the
country’s rapidly sliding foreign exchange reserves and higher than estimated
fiscal deficit, the government will hold crucial talks with international
lending agencies and the US administration this week to seek fresh inflows for
budgetary support.During its April 17-22 visit to the United States, a six-member delegation, including the secretaries for finance and economic affairs, the SBP governor, additional secretary for external finance and chairman of the Federal Board of Revenue, will enter into technical talks with the International Monetary Fund (IMF) for a $5-7.5 billion bailout package and key officials of the US treasury department for reconciliation of Coalition Support Fund (CSF) accounts for fresh inflows.
The talks will be held on the sidelines of annual spring meetings of the World Bank and IMF. The three-day meetings will begin on April 19.
The key purpose of the visit is “to engage with the fund authorities for a probable IMF programme and reconciliation of CSF funds”, according to a summary submitted to the prime minister.
An official said that in his April 5 summary, Finance Secretary Nasir Mahmood Khosa had sought approval for a delegation led by the finance minister, but unless the prime minister appoints a caretaker minister, the delegation is mostly likely to be led by Mr Khosa.
Under the IMF-WB scheme, the finance minister has to represent Pakistan at the World Bank board of governors while the SBP governor represents it at the IMF board of governors. The finance secretary and the economic affairs secretary have to act as alternative members of the boards.
An official said that while the PPP had been engaged with the IMF on a future course of action on structural reforms to put the macroeconomic framework in order over the next few years, the PML-N might have indirectly reposed confidence in Mr Khosa to proceed with discussions over workable policy measures with the IMF.
The posting as federal finance secretary of Mr Khosa, who earlier served as chief secretary of Punjab under former chief minister Shahbaz Sharif, is attributed to tacit support of the PML-N.
“It is not just a coincidence that Mr Khosa was given the important assignment after cancellation of his initial appointment as chief secretary of Sindh on the directive of the Election Commission,” an insider claimed.
Mr Khosa has started building up his own team at the ministry by bringing in Khizar Hayat Gondal, a former additional chief secretary of Punjab, as additional secretary (budget) to replace former acting secretary Abdul Khaliq, who has been made an officer on special duty.
The sources said Pakistan had estimated that arrears payable to it on account of CSF stood at $2.5bn, but US officials dismiss the claim as exaggerated. They put the amount at $1.5bn instead.
The two sides will try to reconcile their estimates so that a major part of the amount acceptable to both of them can be disbursed before closure of the financial year on June 30.
They said an IMF delegation was earlier expected to visit Pakistan for technical talks on a fresh programme to help the country shore up its foreign exchange reserves, but it had been postponed because of election activities. The two sides agreed to hold the technical talks on the sidelines of the IMF-World Bank spring meetings.
The IMF had asked the government to come up with macroeconomic data and immediate challenges being faced by the economy so that substantive discussions could take place on a new programme. Therefore, FBR Chairman Ansar Javed and External Finance Additional Secretary Mohammad Younas Dagha had been included in the delegation for the talks at the technical level, to be supported by the finance secretary and the State Bank governor for policy discussions with the IMF, the sources said.
Given the critical challenges at a time when Pakistan is passing through a political transition, the IMF appears to be under compulsion to agree to a new bailout package to ensure its repayments from the country estimated at about $6bn.
Of a total $8.3bn, Pakistan has repaid about $2.2bn to the IMF and is required to pay another $840 million during the current fiscal year. Another $5.3bn would have to be repaid over the next two years.
Officials said that except for remittances and export proceeds, none of the external inflows envisaged in the federal budget for 2012-13 had materialised so far, posing a serious challenge to depleting reserves and difficult balance of payment position and hence a need for immediate external support.
Identifying balance of payment position and inflation as key challenges, the central bank said last week that foreign exchange reserves had declined from $8.7bn, at the end of January, to $6.7bn on April 5, mainly due to debt repayments. “The balance of payment position continues to be driven by low financial inflows and high debt repayments” as net capital inflow of $34m in first eight months were insufficient to finance external current account deficit of $700m. It said the current account deficit was expected to widen in the remaining two months and the net capital and financial flows were not likely to increase considerably, hence increasing pressure on balance of payments.
BRIEF: (PAKISTAN)
o
Rangers harassing workers, supporters:
MQM
o
US drones kill four in North
Waziristan: officials
o
Sharjeel
says: Nawaz
behind Taliban threats
o
EC changes tribunal for hearing
appeals against Sharif brothers
o
Asfandyar threatens to sue ECP, CEC
o
Wasim Akram, Sushmita Sen refuse
wedding rumours
o
Criminals, money extortionists must be
tackled in Karachi, demands MQM
o
PML-Q delegation calls on MQM leaders
at Nine-Zero
o
No regime can survive without JUI-F,
says Maulana Fazal
o
Treason
case against Musharraf begin
o
Sindh IGP instructs officers to
upgrade election security plan in Karachi
o
Powerful forces backing Mengal,
allies, says Fazl
o
Imran should not take NA-122 so easy
o
US drones kill five in North
Waziristan
o
TTP targets ANP candidates
o
CECs Karachi office ransacked, laptop
stolen
o
PPP to double BISP stipend, says
Bilawal
o
Dont use religion for votes: ECP
WOLRD(Brief News):
o
Venezuelans vote on future of
"Chavista" politics
o
Japan, U.S. agree cannot let North
Korea have nuclear arms: Japan foreign minister
o
Pushing to rein in North Korea, Kerry
to meet Japan leaders
o
After court, gay rights spotlight
shifts back to Obama
o
Cyprus central bank chief calls for
its independence to be respected
o
China says bird flu death toll rises
to 13
o
Gulf countries meet over Iran nuclear
radiation fears
o
Bankers count on watered down EU
trading tax
o
Sands lawsuits shine harsh light on
Macau's casino paradise
o
Insight: Once a landlord's serf, a
Pakistani woman enters election fray
o
Ahead of the curve: but bendable
screens still seek breakthrough
o
Fed doves play down threat of U.S.
inflation
o
Embattled Palestinian Prime Minister
Fayyad quits
o
Thatcher death "party" in
London draws hundreds
o
Italy's Berlusconi says he would be PM
candidate if new vote held
o
FAA sees lessons from Boeing 787
battery woes
o
Frustration as retrial of Egypt's
Mubarak aborted
o
Exclusive: G20 to consider cutting
debt to well below 90 percent/GDP: document
o
U.S. says agrees with China on
peaceful North Korea solution
o
Russia bars 18 Americans in
retaliation for Magnitsky List
o
Pro-Chavez Venezuelans mark coup
anniversary on eve of election
o
Pope makes first big decision naming
advisory board
o
All safe as Lion Air plane misses Bali
runway, lands in sea
o
Senate plan would deport illegal
immigrants entering U.S. after 2011
o
Venezuela says it foiled plot to
destabilize presidential vote
o
Obama's income fell in election year,
paid 18.4 percent tax rate
o
Victims recovering after double
shooting at Virginia campus
WOLRD
BUSINESS(Brief News):
o Egypt
to hold $600 mln auction to cover strategic imports
o Cyprus
central bank chief calls for its independence to be respected
o Furs
fly as Chinese consumers drive boom in U.S. mink farming
o No
Egypt request for bigger IMF loan, central banker tells paper
o Yemen
c.bank FX reserves hit 6-mth low as bombings hit oil exports
o Libya
deposits $2 bln in Egypt cbank from investments
o British
university attacks BBC over covert North Korea trip
o Analysis:
Euro zone bank troublespots don't come down to size
o Sands
lawsuits shine harsh light on Macau's casino paradise
o Bankers
count on watered down EU trading tax
o India's
Chidambaram to woo investors in North America to fund current account gap
o Germany
puts brakes on EU bank union with treaty call
o Troika
concludes Greek bailout review, next aid tranche soon: source
Business News:
Pakistan
EXCHANGE FOR CURRENCY NOTES:
U.S.A 99.18
S.Arabia 26.45
U.K 152.74
Japan 0.9970
Euro 130.09
U.A.E 27.00
BULLION RATES IN RUPEES PER 10 GRAMS
KARACHI
|
Gold Tezabi (24-ct) Rs50,057
Silver Tezabi Rs848.57
|
||||
|
|
||||
|
Mon, 15 Apr 2013
|
||||
|
|
||||
|
-
|
Oil down as China''s GDP comes in
below expectations
SINGAPORE: Oil prices fell sharply in Asian trade Monday after China s first quarter economic growth came in below |
|||
|
|
||||
|
-
|
IMF recognizes Somali government,
offers economic advice
WASHINGTON: The International Monetary Fund recognized the government of Somalia Friday, ending a 22-year break in |
|||
|
|
||||
|
-
|
US declines to label China
currency manipulator
WASHINGTON: The Obama administration on Friday declined to label China a currency manipulator, although it said th |
|||
|
|
||||
|
-
|
KESC announces 8-hour/day
loadshedding for industries
KARACHI: Owing to a reduced supply of gas to Karachi Electric Supply Company (KESC) industries would have to face |
|||
|
|
||||
|
-
|
Oil mixed in Asian trade after IEA
trims forecast
SINGAPORE: Oil was mixed in Asia on Friday after the International Energy Agency trimmed its forecast for growth i |
|||
|
|
||||
|
-
|
Asian markets mixed at end of
strong week
HONG KONG: Asian markets took a breather Friday at the end of a strong week for equities and the dollar, but senti |
|||
|
|
||||
|
-
|
Power generation: Rs20 bn couldn?t
be released for furnace oil purchase
ISLAMABAD: The government failed to release Rs 20 billion to purchase furnace oil for power generation despite an |
|||
|
|
||||
|
-
|
Asian markets mostly higher after
Wall St rally
HONG KONG: Asian markets rose further Thursday following another record performance from Wall Street, while Tokyo |
|||
|
|
||||
|
-
|
Dollar hovers near 100 yen in
Asian trade
TOKYO: The yen was lingering just below the 100-to-the-dollar level in Asian trade on Thursday, resisting falls th |
|||
|
|
||||
|
-
|
Oil down in Asian trade
SINGAPORE: Oil was down in Asian trade Thursday on concerns over weaker US energy demand indicated by rising inven |
|||
|
|
||||
|
-
|
Personal computer sales see worst
drop ever in Q1
NEW YORK: Worldwide sales of personal computers slid 13.9 percent in the first quarter of 2013, research firm IDC |
|||
|
|
||||
|
-
|
Asian markets mostly up, Tokyo
extends gains
HONG KONG: Asian markets were mostly higher on Wednesday, with Tokyo supported by the weak yen, while Shanghai sli |
|||
|
|
||||
|
-
|
Oil down in Asia ahead of US
inventory report
SINGAPORE: Oil was down in Asia on Wednesday as caution set into the market ahead of a US crude inventory report, |
|||
|
|
||||
|
-
|
Oil extends gains in Asian trade
SINGAPORE: Oil extended gains in Asia on Tuesday as financial markets cheered Japan s aggressive monetary easing p |
|||
|
|
||||
|
-
|
Asian economies to rebound but
recovery fragile: ADB
HONG KONG: The Asian Development Bank said Tuesday the region s emerging economies would pick up this year but war |
|||
No comments:
Post a Comment