Friday, July 5, 2013
Thursday, July 4, 2013
Pakistan and the International Monetary Fund agreed on a $5.3 billion loan to boost the nation’s depleted currency reserves, as Prime Minister Nawaz Sharif tries to stabilize a struggling economy. The government presented a “very robust reform” agenda to secure the assistance, Finance Minister Ishaq Dar said at a joint briefing with the IMF in Islamabad today. The program of credit needs final approval from the lender’s board, its Pakistan mission head Jeffrey Franks said.
A plunge of about 40 percent in the reserves in the past year to $6 billion has left Pakistan with enough to cover only about two months of imports, central bank data shows. The slide has weighed on the rupee and adds to other challenges facing Sharif, which include energy shortages and a Taliban insurgency in the northwest. The currency touched a record low this week.
“The overall focus of the program is to boost economic growth,” Franks said after talks between the two sides concluded. “There may be difficult decisions to get there but these will necessary to achieve a stable economy.”
Dar said while $5.3 billion is the minimum agreed, the government wants $7.3 billion and that request is still pending with the IMF. The 36-month arrangement will carry a floating interest rate of 3 percent and will be considered by the board in early September, “subject to the timely completion of prior actions to be taken by the authorities,” the lender said.
The rupee strengthened 0.1 percent to 100.075 per dollar today. The currency’s 31 percent decline in the past five years is among the worst in Asia, according to data compiled by Bloomberg.
Avoiding Default
“Pakistan has to avoid committing default on foreign loans,” Dar said. “That’s the only reason we are going to IMF with a homegrown reform program.”
The IMF has asked Pakistan to ensure policy changes are under way when the board considers the program to help convince it the nation is “committed,” Franks said.
Those actions include energy reforms, some measures by the State Bank of Pakistan and achieving consensus among the provinces, Franks said.
The IMF agreement comes after Sharif returned to power in a May 11 general election, more than 13 years after his second period as premier was cut short by a 1999 army coup.
An earlier, partially disbursed $11.3 billion IMF program expired in September 2011 after Pakistan failed to meet the conditions attached to it.
Repayments of that assistance and a widening trade deficit have pressured the South Asian nation’s reserves. At the same time, the prospect of reduced U.S. monetary stimulus has disrupted capital inflows into emerging markets.
Averting ‘Panic’
A drop in reserves to less than $6 billion would have risked “panic” in the currency marketswithout the backstop of an IMF bailout, according to Muhammad Azfer Naseem, research head at Elixir Securities Pakistan Pvt. Ltd. in Karachi.
An IMF program will “open the door for further lending from the World Bank and the Asian Development Bank,” Ashfaque Hasan Khan, a former adviser in the Finance Ministry, said in a telephone interview from Islamabad.
The IMF won’t offer new aid without a “deep and clear” commitment on a set of policy changes to curb the fiscal deficit, Franks said in January. A low tax-to-gross domestic product ratio is “at the core of the problem,” he said at the time.
Dar in his June 12 budget speech pledged to narrow the widest fiscal deficit in over two decades and to spur expansion in an economy he said was “shattered.”
The budget-gap target for the year that began July 1 is 6.3 percent of GDP, from a shortfall of 8.8 percent in 2012-2013.
Dar also plans to clear money owed to power companies from unpaid bills. The dues have choked power generation.
Sharif is aiming for 4.4 percent economic expansion and to keep inflation in single digits this fiscal year. Consumer-price growth accelerated to a three-month high of 5.85 percent in June.
http://www.bloomberg.com/news/2013-07-04/pakistan-imf-agree-on-5-3-billion-loan-after-slide-in-reserves.html
President Morsi Ousted: First Democratically Elected Leader Under House Arrest - Egyptian Military Ousts President Morsi
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The Muslim Brotherhood confirmed that Morsi is at the Republican guard headquarters.
His confinement came hours after the end of the military's two-day ultimatum to Morsi that he calm the country's unrest or it would take action.
The office of the presidency tweeted defiance in his name.
"Measures announced by Armed Forces leadership represent a full coup categorically rejected by all the free men of our nation," read one of a series of tweets in Morsi's name.
"Morsi urges civilians and military members to uphold the law & the Constitution not to accept that coup which turns Egypt backwards," the tweets stated.
"Pres. Morsi urges everyone to adhere to peacefulness and avoid shedding blood of fellow countrymen," he concluded.
Live Updates on Egypt's Turmoil
Gen. Abdel-Fattah el-Sissi, the country's top military commander, told the country that Egypt's constitution had been suspended and Morsi had been replaced by the head of the constitutional court until new elections could be held. No timetable for those elections were spelled out.
The general warned the Egyptian people to protest peacefully and said the authorities would not tolerate any violence.
President Obama said the United States was "monitoring the very fluid situation in Egypt, and we believe that ultimately the future of Egypt can only be determined by the Egyptian people."
"Nevertheless, we are deeply concerned by the decision of the Egyptian Armed Forces to remove President [Morsi] and suspend the Egyptian constitution. I now call on the Egyptian military to move quickly and responsibly to return full authority back to a democratically elected civilian government as soon as possible through an inclusive and transparent process, and to avoid any arbitrary arrests of President [Morsi] and his supporters," Obama said in a statement.
"Given today's developments, I have also directed the relevant departments and agencies to review the implications under U.S. law for our assistance to the Government of Egypt."
The U.S. Embassy in Cairo ordered all non-essential staff and families out of Egypt. It also warned Americans against traveling to Egypt and urged Americans living in the country to leave.
The Pentagon said that U.S. Joint Chiefs Gen. Martin Dempsey had a phone conversation with his counterpart Lt. General. Sobhi on Monday morning.
"They discussed the need to protect U.S. citizens, to protect the Egyptian people, and the need for the Egyptian military to contribute to stability in an appropriate way," a defense official said.
The anti-Morsi protesters erupted in celebration with fireworks being shot into the sky, but earlier in the day armored vehicles were used to separate them from an enormous crowd of Morsi supporters.
Morsi, who has strong support from the Muslim Brotherhood, was the country's first democratically elected president following the ouster of Hosni Mubarak.
Sissi said the general had been urging national dialogue on Morsi since November and had met with the president on June 22, but they were rejected.
He said the generals have "agreed on a roadmap" and said the military would avoid politics.
Earlier in the day, in a statement was posted on the Egyptian Presidency Facebook page, Essam El-Haddad, Egypt's national security adviser called the on-going situation "a full military coup," and warned that it will only lead to more violence.
"Today only one thing matters. In this day and age no military coup can succeed in the face of sizeable popular force without considerable bloodshed. Who among you is ready to shoulder that blame?" he wrote.
Live Updates: Military Coup Under Way
"There are still people in Egypt who believe in their right to make a democratic choice. Hundreds of thousands of them have gathered in support of democracy and the presidency. And they will not leave in the face of this attack. To move them, there will have to be violence. It will either come from the army, the police, or the hired mercenaries. Either way there will be considerable bloodshed. And the message will resonate throughout the Muslim World loud and clear: democracy is not for Muslims," El-Haddad wrote.
Scenes in Egypt have been reminiscent of Egypt's "Arab Spring" more than two years ago, which overthrew Mubarak. Hundreds of thousands of Egyptians have again taken to the streets over the last few days, protesting Morsi's rule after one year in office and demanding that he step down. While most of the protests have been peaceful, there have been incidents of violence. At least 35 people have been killed, many during a gun battle at Cairo University on Tuesday night.
The military issued a statement two days ago warning Morsi that he must do something about the unrest or it will take action, setting up a showdown between the country's first democratically elected president and the powerful military.
On Tuesday, Morsi gave a defiant statement in response, vowing that any attempt by the army to take over would "lead to civil war." He said he would not step down, even if it cost him his life.
"If the price for safeguarding legitimacy is my blood, then I am prepared to sacrifice my blood for the cause of safety and legitimacy of this homeland," he told the country. "Do not be fooled. Do not fall into the trap. Do not abandon this legitimacy. I am the guardian of this legitimacy."
As the clock began ticking the Obama administration scrambled to respond to the growing conflict. From Tanzania on Tuesday, President Obama called Morsi and urged him to take steps to contain the situation, reminding the Egyptian president that while the United States is committed to the democratic process in Egypt, competency must play a role.
"Democracy is about more than elections; it is also about ensuring that the voices of all Egyptians are heard and represented by their government, including the many Egyptians demonstrating throughout the country," said a statement released by the White House reading out Obama's call with Morsi.
Secretary of State John Kerry, who has just returned from a Mideast trip, also placed a call to Egypt's Foreign Minister Mohamed Kamel Amir, who reportedly resigned from Morsi's cabinet on Tuesday.
Defense Secretary Chuck Hagel has also spoken to his counterpart in Egypt, Pentagon spokesman George Little confirms.
http://abcnews.go.com/International/president-morsi-ousted-democratically-elected-leader-house-arrest/story?id=19568447#.UdWF_6KQaN8
Wednesday, July 3, 2013
Election 2013 – say pehlay siasi jamatoon ke kia harbe, kia waday, aur konsa manshor tha… (Meray ilawa kisi aur ko vote dena ghair Islami hi – F of JUIF) Off The Record - 6th May 2013
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Election 2013 – say pehlay siasi jamatoon ke kia harbe, kia waday, aur konsa manshor tha… (Meray ilawa kisi aur ko vote dena ghair Islami hi – F of JUIF) Off The Record - 6th May 2013
Off The Record (Kashif Abbasi) 1st July 2013 - British mujhay Imran Farooq qatal ma mulawish krne ki sazish band karde..isi me us ki bhalayi hi - Altaf Hussain
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Off The Record (Kashif Abbasi) 1st July 2013 - British mujhay Imran Farooq qatal ma mulawish krne ki sazish band karde..isi me us ki bhalayi hi - Altaf Hussain
Main aik Soorma Sahafi hoon.. meray chaati par kai tamaay hin, kuch tamaay me nay khod chaspan karlia hin - Talat Hussain
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Main aik Soorma Sahafi hoon.. meray chaati par kai tamaay hin, kuch tamaay me nay khod chaspan karlia hin - Talat Hussain
Indore: In a shocking incident, a 10-day-old baby girl was found half buried in the jungle near Narmada Kuti, Mandleshwar on Saturday. Two passersby, Radheshyam Kevat and Jagdish Mangilal, were on their way to collect some plants from the jungle when they heard the cries of the baby.
Talking to the media, Radheshyam said that at first they thought it was some animal but on a closer look they found the half buried infant.
They immediately informed the nearby police station. Some policemen helped them rescue the child and rushed her to the community health centre.
She was later referred to the MY hospital, where her condition is said to the critical as she is continuously bleeding through her nose and mouth. While a team of doctors is trying to save the child, the police are trying to find out the whereabouts of the parents and who buried her.
Tuesday, July 2, 2013
Ghar ma aman hoga to puray mulk ma aman hoga -Meray Mutabiq - With Hassan Nisar - 9 June 2013
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جو اپنے خالق کو جانتا ہے وہ امن کو بھی سمجھ سکتا ہے۔۔۔۔۔ امن گھر سے شروع ہوتا ہے، اگر ہم ایک دوسری کی گردنیں کاٹیں گے تو دنیا بھی ہماری گردنیں کاٹے گی۔۔۔
ISLAMABAD: Within a fortnight after making a controversial appointment, generally seen as a case of nepotism and conflict of interest, Prime Minister Nawaz Sharif expects from the bureaucracy to check “corruption, nepotism, inefficiency and conflict of interest”.The PM’s decision to appoint one of his influential acquaintances as head of a key sports board despite the latter’s lack of expertise and being
a case of conflict of interest, has even raised many eyebrows within the PML-N but Nawaz Sharif did not undo his controversial decision.While his own decision is presently facing judicial scrutiny after having been criticised by many, the PM on Monday conveyed to the bureaucracy that governance could not be improved unless corruption, nepotism, inefficiency and conflict of interest are tackled upfront.In a directive issued by the PM Office, the PM conveyed to all ministries/divisions that curbing the menace of corruption ranks very high on the agenda of the N-league government. The News Tuesday, July 02, 2013
Hajion par tax nhi Haj karanay waly idaroon par tax lagane ka mtlab yeh hi ke inhon nay Hajion par tax lagaya hi..Awam ko bewaqoof na banayen... Hassan Nisar Meray Mutabq
No commentsHajion par tax nhi Haj karanay waly idaroon par tax lagane ka mtlab yeh hi ke inhon nay Hajion par tax lagaya hi..Awam ko bewaqoof na banayen... Hassan Nisar Meray Mutabq
Monday, July 1, 2013
Na iqtisadi buhran na muashi...yehan sirf Akhlaqiat ka buhran hi... aur wohi is ki barbadi ka asal sabab...taraqi ke lia kirda ka badalna zarori hi... Hassan Nisar Meray Mutabaq
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Na iqtisadi buhran na muashi...yehan sirf Akhlaqiat ka buhran hi... aur wohi is ki barbadi ka asal sabab...taraqi ke lia kirda ka badalna zarori hi... Hassan Nisar Meray Mutabaq
Sher ko na bijli, na pani na khana, balke khon chahiye.....SheikH Rasheed Exclusive On Hai kohi Jawab - 1st July 2013
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Sher ko na bijli, na pani na khana, balke khon chahiye.....SheikH Rasheed Exclusive On Hai kohi Jawab - 1st July 2013
Pakistan ki media MQM se darta hi...agar nhi to media ne yeh kion kaha "keh aham Pakistani shakhsiat ke ghar par chapa mara gia" name kion nhi lia
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Pakistan ki media MQM se darta hi...agar nhi to media ne yeh kion kaha "keh aham Pakistani shakhsiat ke ghar par chapa mara gia" name kion nhi lia
Peshawar, Quetta aur Wazirstan ma dahshat dardi, 54 begunah jan bahaq, 100 se zaid zakhmi
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Peshawar, Quetta aur Wazirstan ma dahshat dardi, 54 begunah jan bahaq, 100 se zaid zakhmi
Hamid Mir’s Column – Warning – Kuch log sahib kitab to ban jate hin lekin sahib ilm nhi, SM Zafar un sahiban ma sa aik hin.. 01 Jul 2013
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Baharat aur us ka meida Pakistani missileon se kitne darte hin... jannay ke lia yeh video dekhen
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بھارت اور بھارتی میڈیاپاکستان کی میزائل ٹیکنالوجی سے کتنا خائف ہے، اس کا اندازہ آپ بھارت کے ایک چینل کی اس رپوٹ سے بخوبی اندازا لگاسکتے ہیں۔۔۔ گو کو کہ بھارت اپنی بجٹ کا سب سے برا حصہ دعاع کے لئے مختص کرتا ہے لیکن اس کے باوجود بھی وہ دعاعی اور میزائل تیکنالوجی کے لحاظ سے پاکستان سے بہت پہچھے ہے۔۔۔۔ یہ ہم پاکستانیوں کے لئے یقیناً قابل فخر بات ہے کہ ہمارے سائنس دان اگر کام کریں تو یہ ہر ایک سے اچھا کام کر سکتے ہیں۔۔۔ لیکن ہمارے مفاد پرست سیاست دان زاتی مفاد کی خاطر انہیں آزادانا طور پر کام نہیں کرنے دیتے۔۔۔
Sunday, June 30, 2013
Pervez Musharraf to file a petition against Nawaz Shariff in Azghar Khan Case... Legal team started working on this big task
No commentsسابق آرمی چیف اور صدر جناب پرویز مشروف سپریم کورٹ میں نواز شریف کی اہلیت چیلنج کریں گے۔۔۔اضعر خان کیس پر عملدرآمد کے لئے پیٹیشن دائر کرنے جارہے ہیں ۔۔ لیگل ٹیم نے اس اہم ٹاسک پر کام شروع کردیا ہے۔۔۔
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