Superstorm
A freak hail and thunderstorm in parts of Punjab, Khyber-Pakhtunkhwa, and Islamabad caused at least five deaths and damaged public and private property as well as standing crops. The rain also caused flash floods in KP, suspending traffic. The Provincial Disaster Management Authority has said it is monitoring the situation and will pay compensation and redress losses caused by the flooding.
Minerals Bill
JUIF chief Maulana Fazlur Rehman has criticized a minerals bill introduced by the Khyber-Pakhtunkhwa government, alleging it violates provincial autonomy and risks the federal government and “international powers” seizing the province’s resources. He has reiterated a warning of launching a protest movement if “correct” decisions are not taken.
Privatization Deferred
The government has extended the deadline for privatizing the Pakistan International Airlines until the last quarter of the calendar year, while also failing to privatize any other loss-making entity this fiscal year. In light of the government’s failure to proceed on any privatization effort, it has missed its budgeted target of collecting Rs. 30 billion through privatization proceeds.
Praising China
Prime Minister Shehbaz Sharif has credited China’s support for helping Pakistan secure its ongoing $7 billion bailout from the International Monetary Fund. Addressing a ceremony in Islamabad, he has called for availing Chinese expertise to modernize Pakistan’s agricultural sector, emphasizing the need to develop climate-resilient seeds.
Awaiting Relief
The federal government, pending approval from the IMF, is considering raising the threshold of taxable annual income from Rs. 600,000 to Rs. 800,000 in a modicum relief for salaried individuals. However, there are no plans to offer any relief to individuals earning beyond Rs. 1.2 million annually, despite repeated claims by ministers to the contrary.
Kuwait’s Largesse
Federal Petroleum Minister Ali Pervaiz Malik has thanked Kuwait’s Ambassador to Pakistan for his state extended by two years a deferred oil payment facility for the country. Under the facility, Pakistan State Oil imports three cargoes of oil monthly from Kuwait on 90-day deferred payments. The minister has also welcomed the Kuwait Foreign Petroleum Exploration Company’s interest in offshore blocks.
Mengal Withdraws
Balochistan National Party (BNP-M) chief Akhtar Mengal has ended a 20-day sit-in at Lakpass, attributing the decision to inconveniences to the public from the demonstration. However, he has said that while the sit-in has ended, the “movement” will continue with protests in cities and towns across Balochistan. The protest was launched for the release of Mahrang Baloch, who has yet to be released.
Afghan Repatriation
The Afghan consul general in Peshawar has said Kabul is prepared to “take care” of Afghan refugees returning from Pakistan after Islamabad’s refusal to extend a deadline for their repatriation. He said a commission had been formed to address issues related to the repatriation process. A day earlier, the Afghan foreign ministry had urged Pakistan to halt forced deportations.
Attempting Appeasement
Amidst growing calls for nationwide protests from farmers over the government’s refusal to restore a support price for wheat, the Punjab government has announced a package of Rs. 15 billion for growers. The Wheat Support Fund will give direct financial support to 550,000 wheat farmers through the Kissan Card, and exempts them from having to pay irrigation/fixed tax this year.
Trade War
The World Trade Organization has warned of “severe negative consequences” for the global economy if the trade war between the U.S. and China continues following Trump’s imposition of hefty tariffs on Chinese imports. According to the White House, some Chinese products will face tariffs of up to 245%, with China saying resolution is only possible through dialogue on the basis of equality and respect.