Mounting Debt
Pakistan’s per-person debt stood at Rs. 302,000 at the end of fiscal year 2023-2024, according to the Fiscal Policy Statement submitted to the National Assembly by the Ministry of Finance. The annual report, which must be submitted by the end of January, has also revealed that the total federal budget deficit was Rs. 7.7 trillion or 7.3% of the GDP.
Taxing Salaries
Data issued by the Federal Board of Revenue has revealed that the country’s salaried class was the third-largest contributor to tax revenue during fiscal year 2023-24. The data shows that Rs. 368 billion in taxes were collected from salaried individuals, up from Rs. 103.74 billion the prior year. The highest source of revenue was on contracts, which netted the FBR Rs. 496 billion.
Protecting the Voiceless
The Punjab government has approved the formation of wildlife courts to address relevant crimes, with offenders potentially facing fines of up to Rs. 5 million. Amendments to the Wildlife Protection Act, 1974 aim to provide legal protection to wildlife areas. They also call for the formation of a dedicated wildlife protection force, as well as specialized centers for breeding, treatment, and safeguarding wild animals.
Shadow of Terror
Chief of Army Staff Gen. Asim Munir has attributed cross-border terrorism as the root cause of differences between Pakistan and Afghanistan. In a meeting with political representatives of Khyber-Pakhtunkhwa, the Army chief has stressed that there are no plans for a full-scale military operation in the region, adding intelligence-based operations will tackle militancy.
Electricity Tariffs
The federal cabinet has approved revised agreements with 14 Independent Power Producers, potentially leading to a decrease in electricity prices by Rs. 10-11/unit. Under the revised deals, profits and costs for these IPPs will be reduced by Rs. 802 billion. Overall, the revised deals aim to secure annuals savings of Rs. 137 billion for consumers.
Funding Commitment
The World Bank has pledged to provide $40 billion to Pakistan under the 10-year Country Partnership Framework. Of this sum, $20 billion will be disbursed through the International Development Association and International Bank for Reconstruction and Development. The International Finance Corporation will provide the remainder.
Brotherly Ties
Ties between Pakistan and Bangladesh continue to improve, with the Army chiefs of the two countries emphasizing the importance of a stronger defense relationship. The boost in ties follows the ouster of Sheikh Hasina, who had advocated stronger ties with India at the expense of Pakistan. During the meeting, Pakistan’s COAS stressed on joint efforts to promote regional peace and stability.
Little Accountability
Data provided to the National Assembly by the Interior Ministry has revealed a conviction rate of less than 4 percent for cybercrime cases registered over the past five years. Overall, per the ministry, 7,020 accused have been arrested on cybercrime charges since 2020 with only 222 convictions. Officials blame the low conviction rate on capacity issues and a lack of clarity over cybercrime laws.
‘Anti-State Propaganda’
The FIA’s Cyber-Crime Wing has booked PTI leader Shahbaz Gill and former anchor Moeed Pirzada in separate cases for allegedly propagating anti-state activities and spreading propaganda against state institutions on social media. The cases were registered under PECA 2016 following inquiries into the activities of both individuals on social media.
KP’s Irregularities
The World Food Program has halted funding for the Benazir Nashunama Program in KP over alleged financial misappropriations, ghost employees and non-compliance with monitoring mechanisms. The U.N. body is seeking an independent financial audit and has decided to shift management of the program from the provincial government to NGOs to improve accountability and transparency.