Overseas Welfare
Saudi Crown Prince Mohammed bin Salman has assured Prime Minister Shehbaz Sharif that the Gulf kingdom will enhance measures to facilitate the welfare of Pakistanis residing in his country. The meeting also emphasized the need to further strengthen people-to-people ties, cultural exchanges, and educational collaboration between the two states.
Available Stocks
The Economic Coordination Committee of the federal cabinet has directed National Food Security and Research and Industries and Production ministries to submit monthly reports on stock reserves of wheat, sugar and rice and other essential commodities. The move aims to prevent hoarding and profiteering and ensure the availability of goods for consumers at fair prices.
Trade Barriers
The government has accepted an IMF demand to open its economy to foreign competition by slashing average import tariffs to 7.1% over five years. The economic liberalization would most impact the minerals and auto sectors, and cost Rs. 278 billion in lost tax revenues. Authorities claim an increase in economic activity will compensate this loss.
High-Profile Defaulter
The U.K. government has named Hasan Nawaz, the son of former Prime Minister Nawaz Sharif, on a list of “deliberate tax defaulters” from April 2015-April 2016. He owes £9.3 million in taxes, with a penalty of £5.2 million. Last year, The London High Court declared Nawaz bankrupt in a tax and liability case of the U.K. government’s tax and revenue department.
Reviving Trade
The Torkham border crossing has reopened after 25 days of closure, paving the way for resumption of trade and travel. Authorities have said that initially the border will reopen for trucks stranded on both sides, with people allowed to cross on foot from Friday. According to customs officials, the border crossing facilitates daily trade of roughly $3 million and sees the movement of around 10,000 people.
(Most) Parties Conference
The opposition alliance has decided to convene an “all-parties conference” after Eidul Fitr—without the presence of any of the parties that comprise the government. The huddle aims to discuss the country’s security and political situation. It will include the participation of the parties comprising the Tehreek-e-Tahafuz-e-Ain-e-Pakistan as well as the JUIF and any other parties that wish to attend.
Balochistan Terrorism
In a visit to Quetta, President Asif Ali Zardari has stressed upon the need to eradicate terrorism, adding the government is committed to achieving lasting peace in Balochistan. Maintaining that the ultimate goal of terrorists is to divided the nation, he reaffirmed that the government will not back down from its efforts to develop the region and provide necessary infrastructure and facilities.
Due Inheritance
The Federal Shariat Court has ruled that denying women their right of inheritance in ancestral or husband’s property is un-Islamic. In its judgment, the court has called for action against anyone involved in denying women rights under Section 498-A of the Pakistan Penal Code. It has also called for rights organizations to work proactively to eradicate the crime from society.
Sugar shortage
The FIA has initiated an inquiry against people allegedly responsible for an “artificial” sugar shortage that has triggered a surge in prices. A special committee led by Deputy Prime Minister Ishaq Dar has claimed there is no shortage and prices should not exceed Rs. 164/kg. Despite these efforts, however, there has been no visible change to sugar prices in the consumer market.
Israeli Aggression
Since the collapse of the Gaza ceasefire earlier this week, Israel has ramped up its aerial and land campaign in the Gaza Strip, killing over 400 people and injuring hundreds more, including children. The Israeli military has also retaken the Netzarim Corridor, splitting the Gaza Strip in half and preventing free movement of residents. Calls for an urgent end to hostilities have yet to bear fruit.