The Correspondent PK

Crude #oil price One year ago: $111 Now: $69

State Minister for Finance and Revenue Aisha Ghaus Pasha Wednesday slammed the International Monetary Fund (IMF) for "intervening" in Pakistan's internal matters. "Pakistan’s conduct is in line with the law,” the state minister said, terming IMF Mission Chief for Pakistan Nathan Porter’s statement — regarding the political situation in Pakistan — “extraordinary”. While the IMF does not comment on domestic politics, Porter had said that the Fund hopes "a peaceful way forward is found in line with the Constitution and the rule of law.” Hoping that both sides will reach a staff-level agreement before the announcement of the federal budget — expected to be unveiled on June 9 — for the fiscal year 2023-24, the state minister said that the delay is neither good for Pakistan nor the Fund. #IMF #thecorrespondentpk

A Boeing Co. 777 jet operated by Pakistan International Airlines Corp. was impounded on May 29 in Kuala Lumpur over unpaid charges to a leasing company, forcing the carrier to send a replacement aircraft to pick up stranded passengers. A Malaysian court ordered the plane to be seized on the lessor’s request, PIA spokesman Abdullah Hafeez Khan said in a statement. The state-owned airline will seek legal remedies to free the plane, Khan said, saying that the disputed amount has already been paid. This is the second time in the past two years that a PIA aircraft has been seized in the southeast Asian nation. #PIA #thecorrespondentpk

Dr Aafia Siddiqui, a Pakistani national in US custody, met her sister Dr Fauzia Siddiqui after almost 20 years, it was reported on Wednesday. The sisters met at the Federal Medical Center, Carswell in Fort Worth, Texas. During the two-and-a-half-hour meeting, the two sisters remained separated by a glass partition. Dr #AafiaSiddiqui informed her sister about her treatment by the US authorities. Dr Fauzia shared details of Dr Aafia's children with her, but was not allowed by the US authorities to show her their pictures. #thecorrespondentpk

Stressing the need for collective efforts, Finance Minister Ishaq Dar on Tuesday expressed the confidence that Pakistan would come out of the current economic crisis soon. The finance czar made the remarks while talking to delegations of the chambers of commerce and industry of Lahore and Faisalabad, which called on him in Islamabad this evening. The federal minister said the downward slide of the economy has stopped due to strenuous efforts of the coalition government under the leadership of Prime Minister Shehbaz Sharif. He said Pakistan needs everyone's efforts and contribution to steer the country out of the present situation. “We will try our best to prepare a balanced federal budget while keeping in view the economic constraints the country is facing.” #IshaqDar #thecorrespondentpk

Former Prime Minister and PTI Chairman Imran Khan will face trial in a military court over his alleged role in the May 9 arson attacks, Interior Minister Rana Sanaullah said on Tuesday. Speaking to a private news channel, Sanaullah accused Imran of "personally planning attacks" on military establishments, claiming that there was ample evidence to substantiate these accusations. “It is all documented. The proof is in his tweets and messages,” he said. Sanaullah repeated the same statements in another TV interview. “Absolutely, why shouldn’t he [be tried in military court]? The programme he made to target military installations and how he had it executed, this is absolutely a case for the military courts.” The minister claimed that the PTI chief personally orchestrated the attacks. “PTI activists chanted the slogan that ‘Imran is our red line’, and the entire plot was prepared on Imran Khan’s initiative and instigation. He carried it all out. He is the architect of this chaos.” #ImranKhan #thecorrespondentpk

The Ministry of Finance (MoF) has said high inflation is expected to persist in the month of May. However, improvement in the global supply chain will ease out domestic prices in the coming months. In its ‘Monthly Economic Update & Outlook’, the ministry said inflationary pressure in May 2023 is expected to continue as observed in the month of April. “The potential reasons for the rising price level are flood damages, disruptions in supply chains, devaluation brought by the macro-economic imbalances and political uncertainty. “The inflation for the month of May 2023 may remain in the range of 34-36%,” said the ministry. #thecorrespondentpk #inflation

Investor optimism continued at the Pakistan Stock Exchange (PSX) on Tuesday and the KSE-100 Index rose 0.8%, driven by late session buying activity. Renewed confidence of investors on hopes of resumption of International Monetary Fund (IMF) programme motivated them to make fresh buying. On one hand, Finance Minister Ishaq Dar stated that the government will share budget details with the global lender to unlock next tranche of loan while on the other hand, IMF Chief to Pakistan Nathan Porter underlined that Pakistan and IMF continued engagements for revival of the deal. The KSE-100 index closed the trading session at 41,671.65, an increase of 331.59 points or 0.8%. #psx #KSE100 #stocks #thecorrespondentpk

PTI Chairman Imran Khan on Tuesday sent a Rs10 billion defamation notice to Health Minister Abdul Qadir Patel after the latter held a press conference claiming, among other things, that the ex-premier’s mental stability was questionable. Last week, the government had shared the confidential medical reports of Imran’s tests, supposedly conducted while he was in custody earlier this month, claiming that no fracture was found on his legs while traces of alcohol and an illegal drug were found in his urine sample. The details were shared by Patel at a press conference in Karachi. The minister had described the PTI chief’s medical report as a “public document” and stated that he didn’t need anyone’s permission to release it. #ImranKhan #thecorrespondentpk

‘Stooping to unimaginable levels,’ says Imran on alleged threats of ‘taking away women’ Apparently referring to authorities, he claimed PTI workers were being threatened that “women from their house will be taken away. “They have stooped to this level. Nobody could have imagined of stooping to this level in Pakistan’s politics”.

‘They are scared of releasing women,’ says Imran “They (authorities) are scared of releasing women. They are aware that none of the women were involved in acts of arson. “They are aware that hardly 100 to 150 people would have been [involved in rioting]. The rest were protesting peacefully”.

Superior judiciary under immense pressure: Imran Imran further said, “I am aware that my superior judiciary is under immense pressure. I know that judges too are receiving phone calls from unknown [numbers]” and being threatened.

Imran claims all institutions being used for one purpose — to eliminate PTI “I am also aware that all institutions of the country are being used for one purpose — to somehow eliminate the PTI.”

Majority of police unhappy with what they are being made to do, claims Imran “It is for the first — going by the reports we received from jails — that the majority of police is unhappy with what they are being made to do. The majority of police believes that cruelty is being inflicted. “They have inserted Gullu Butts among police, who are pressure by namaloom afraad (unkown people). They are forced into doing what they are doing.”

#ImranKhan explains why ‘only few have left party’ despite crackdown Referring to the crackdown on the #PTI, Imran says, “Why is that only a few have left the party despite this? “One of the reasons is that I am allotted party tickets myself this time … and people have realised that whoever leaves at this juncture, their politics will end.”

Defence Minister #KhawajaAsif on Tuesday excoriated Chief Justice of Pakistan (CJP) Umar Ata Bandial for his inclusion in the five-member larger bench to hear petitions against the inquiry commission probing audio leaks involving judges.  "Parliament will retaliate if its authority is challenged and if our writ comes under attack, the house will counterattack," the defence minister told the top judge while speaking in the National Assembly.  He said that the government had formed a commission and it was stopped from operating by the chief justice. "The judiciary cannot dictate the parliament as it is independent," he added.  "It was expected that the chief justice would leave this matter to the commission as it also involved his mother-in-law," said the defence minister, who is also a senior leader of the Pakistan Muslim League-Nawaz (#PML-N).  Talking about the Arsalan Iftikhar case, he said that the former chief justice Iftikhar Chaudhary had recused himself from the bench at that time and distanced himself from his son's case.  "If Iftikhar Chaudhary can separate himself from the bench then the incumbent chief justice should also be separated," he said, adding, "It seems like good traditions are being abandoned." #thecorrespondentpk

Pakistan Tehreek-e-Insaf (PTI) leader Ali Muhammad Khan was rearrested from Adiala Jail in Rawalpindi on Tuesday. The jail administration said, "Ali Muhammad Khan has been released after the completion of his detention period. Ali Muhammad has been released on the order of the Rawalpindi Bench of the Lahore High Court (LHC)". On the other hand, PTI leader Shehryar Afridi had also been arrested again after being released from Adiala Jail. According to the police, Mr Afridi was arrested under MPO. Earlier, the PTI leader was released after completing 15 days of detention.  #thecorrespondentpk #PTI

Power outages continue despite a reduction in demand for electricity owing to the city's relatively pleasant weather, as Lahore Electric Supply Company (Lesco) has formally begun four-hour-long loadshedding in the city, it was reported. There will be outages for two hours a day of one hour each for consumers of Category I and II, according to the latest Load Management Programme, where up to 20% aggregate technical and commercial (AT&C) losses are observed. Meanwhile, consumers residing in areas in Category III would face three-hour daily outages of one hour each. Similarly, those in Category IV will have to face four hours of planned loadshedding daily. The demand for electricity has been on the decline for the last several days following the decrease in temperature. However, after temporarily stopping outages in the city, Lesco decided to start planned outages. #thecorrespondentpk #loadshedding

In order to provide relief to the inflation-weary people ahead of the upcoming federal budget 2023-24 — expected to be announced on June 9 — the government is likely to reduce the price of petroleum productstold itbwas reported. The price of petrol is expected to go down by Rs10 per litre effective from June 1 following a decline in the ex-refinery price. The industry officials said that the ex-refinery price of petrol is showing a decline of Rs10-12 for the next fortnight, however, the exchange rate adjustment will allow the government to pass up to Rs10 per litre relief only.  The ex-refinery price of diesel is showing Rs4-5 per litre decrease for the next review and the government may pass on this impact in the upcoming fortnightly review. #petrolprice #thecorrespondentpk

The International Monetary Fund (IMF) remains in touch with Pakistan’s authorities in order to pave the way for a board meeting before a financing programme expires at the end of June, the IMF mission chief for Pakistan said. Ordinarily, a board meeting on a review of the programme would require a prior staff-level agreement, which in Pakistan’s case would unlock $1.1 billion in financing for the cash-strapped nation as part of a $6.5bn IMF package. The staff-level agreement has been delayed since November, with more than 100 days gone since the last staff-level mission to Pakistan, the longest such delay since at least 2008. “This engagement will focus on the restoration of foreign exchange proper market functioning, the passage of a FY24 budget consistent with programme goals, and adequate financing,” IMF mission chief Nathan Porter said. Porter said that broadly speaking, “overcoming the present economic and financial challenges would require sustained policy efforts and reforms for Pakistan to regain strong and inclusive private-led growth.” While the IMF does not comment on domestic politics, Porter said it hopes “a peaceful way forward is found in line with the Constitution and the rule of law,” referring to Pakistan’s political instability. #IMF #thecorrespondentpk