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Sunday, January 22, 2023
#Pakistan - Former President of Pakistan Asif Ali Zardari has strongly condemned the terror attack at a police station in #Charsadda
Former President of Pakistan and President Pakistan People’s Party Parliamentarians (PPP-P) Asif Ali Zardari has strongly condemned the terror attack at a police station in Charsadda, Khyber-Pakhtunkhwa.
In a statement on Saturday, Zardari expressed his concern over the increase in the terror attacks on the police force in the KP. He said that the police officers and jawans will continue to defeat the terrorists’ design. He paid rich tributes to the police officers and jawans.
He said that the federal and KP governments should take strict measures to defeat terrorists. He expressed sympathy and condolences to the families of the martyred policemen.
https://www.brecorder.com/news/40221650/zardari-condemns-terror-attack-on-police-station
Pakistan Strengthens Already Harsh Laws Against Blasphemy
By Salman Masood
https://www.nytimes.com/2023/01/21/world/asia/pakistan-blasphemy-laws.html
Pakistan’s interest expenses increases, spends over PKR 3.2 trillion on debt servicing and defence
The development comes amid the government’s reluctance to opt for debt restructuring.With a net income of PKR 2.5 trillion, Pakistan’s total spending on debt servicing and defence reached over PKR 3.2 trillion more than the government’s net income, which indicates that Pakistan will remain debt trapped as the tax collection has increased, however, the expenses have not been reduced, The Express Tribune reported.
In comparison to a massive expenditure of PKR 3.2 trillion on debt servicing and defence, only PKR 147 billion was spent on development, the report said, adding that the expenditure on development is 49 per cent less in comparison to the previous fiscal year.
Citing sources in the Ministry of Finance, the news report said there was an alarming rise of 77 per cent in the cost of interest on the federal government debt stock during the July-December period of the current fiscal year.
The new provisional details have suggested that there has been a cumulative reduction of 15 per cent in all other non-development expenditures, excluding defence due to the precarious situation. The development expenses were reduced by 50 per cent for other expenses, The Express Tribune reported citing government sources.
Pakistan’s Finance Ministry has given about PKR 2.57 trillion in interest costs, which shows a rise of PKR 1.1 trillion or 77 per cent, The Tribune reported citing sources.
During the current fiscal year, the government had budgeted PKR 3.95 trillion for interest expenses but 65 per cent of it has been used in just six months, it added.
Amid the high cost of debt servicing, the Monetary Policy Committee of the central bank is also due to hold a meeting on Monday to review the possibility of further increasing its interest rate to control inflation and attract foreign inflows.
Earlier this month, Pakistan’s Finance Minister Ishaq Dar said the cost of debt servicing could rise to about PKR 5 trillion in this fiscal year, which amounts to over half of this year’s total budget of PKR 9.6 trillion.
Citing sources, the news report said Pakistan spent PKR 638 billion on defence in six months, excluding military pensions and expenditure on the armed forces development programme. The annual budget is PKR 1.563 trillion and the six-month expenditure is as per the allocation.
In the current fiscal year, the government’s total expenditure increased to nearly PKR 4.7 trillion. However, the current expenditure of the government increased to more than PKR 4.5 trillion, as per the news report.
Provisional figures reveal that the federal budget deficit reached around PKR 2.2 trillion in the first six months of the current fiscal year, The Express Tribune reported citing sources.
The federal budget deficit, the gap between expenses and revenues, amounted to 2.5 per cent of the GDP, it added.
https://theprint.in/world/pakistans-interest-expenses-increases-spends-over-pkr-3-2-trillion-on-debt-servicing-and-defence/1329433/