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How the IMF’s $3 billion agreement will bring economic stability to Pakistan
The business community has welcomed the signing of a nine-month $3 billion standby agreement with the International Monetary Fund (IMF). Hoping that the deal will end uncertainty and restore confidence among local and foreign investors. Will do which is badly needed to revive the economy.
The impact of the IMF’s bailout program on the cost of production in Pakistan
According to a report published in Dawn newspaper, Zubair Motiwala, chairman of Businessman Group (BMG), while talking to Dawn, said that this staff level agreement will restore the confidence of foreign investors as well as bring economic stability. It will have a positive impact on the stock market by stabilizing the rupee-dollar gap.
However, he expressed concern that the IMF’s bailout program may increase the cost of production, which the entire business community is afraid of and the government should pay special attention to address this concern.
“I hope the US dollar will come down to its real value, thereby helping to control food inflation while also bringing down interest rates,” Zubair motiwala added.
He said that after the staff level agreement, the money coming from friendly countries and multilateral donor countries will provide some space to the government financially.
He said that this fiscal space should be used to see that our trade account expands in such a way as to maintain the balance of payments and exports of the country.
He said that we should focus on bringing in maximum remittances, increasing exports and making exports viable by bringing production costs and business costs at par with our regional competitors.
Zubair Motiwala emphasized on promoting industrial activities. Also said that efforts should be made to ensure speedy refund of duty drawback of sales tax and local taxes and levies.
Pakistan Business Council Chief Executive Ehsan Malik said that the staff-level agreement to bridge the liquidity gap is welcome and after its phase-out, the government will be held accountable within the lines set by the IMF. One should stay on the path.
The potential benefits and drawbacks of the IMF’s agreement for Pakistan’s trade account
However, what is surprising is that the IMF believes that the budget has broadened the tax base when it has not, with existing taxpayers, including salaried employees, being further broadened at higher rates. Taxes are levied and non- or under-paying retail, wholesale and real estate owners are largely left out.
The industry will also suffer from higher energy tariffs, he said, under the assumption that higher rates are a sustainable solution to distribution losses, theft and low recovery, which are the root causes of cyclical debt, the IMF said. There has been no substantial demand to curb this due to losses by government agencies, and surprisingly, imports are also expected to ease, eventually netting $3.5 billion in foreign exchange. How is all this possible?
Ehsan Malik said that industry in the formal sector would definitely suffer from higher policy rates, though he knew that policy rates were not the right solution to curb cost-push inflation.
He said that the industry will continue to face pressure from all sides and we are slowly killing the hen that lays the golden egg.
The standby credit increases the risk of default, the $3 billion facility will not cover more than $20 billion needed to service external debt over the next 12 months, he said.
In the dynamic landscape of Google searches in Pakistan throughout 2023, users displayed a multifaceted range of interests across several categories. Surprisingly, the Technology category garnered significant attention, with a particular emphasis on artificial intelligence and the influence of Chat GPT, reflecting a global trend where people are increasingly drawn to technological advancements, making it a focal point for Pakistan most searched Google 2023. These trends capture the essence of top trending searches in Pakistan in 2023.
Pakistan Most Searched Google 2023 Cooking Recipes
In the dynamic Google searches landscape of Pakistan in 2023, technology, particularly artificial intelligence and Chat GPT, gained attention, marking it as a focal point for Pakistan’s most searched Google 2023. Within the culinary realm, cooking recipes took center stage, with the versatile samosa recipe claiming the top spot among Govt Latest Jobs in Pakistan and most searched Google 2023. Following closely were inquiries about kaleji recipes and the delightful Sheer Khurma. The culinary exploration extended to include the fourth and fifth positions, occupied by searches for salted beef and tomato ketchup recipes, showcasing the diverse gastronomic interests of Pakistani users and their preferences in top trending searches in Pakistan on Google in 2023.
Most Searched News in Pakistan 2023
Turning to the News category, the strife in the Middle East, particularly the ongoing conflict between Israel and Hamas in Palestine, captured the attention of millions of Pakistanis, making it a prominent topic in Pakistan most searched Google 2023. The quest for information on global events continued, with searches for the Ehsaas program securing the second spot, while public figures like Alize Sahar, Akshay Kumar, and Kajol claimed the third, fourth, and fifth positions, respectively. These searches provide insights into the most searched things in Pakistan on Google in 2023, including both geopolitical events and popular public figures.
Pakistan Most Searched Cricket Topics 2023
Cricket maintained its stronghold as a favorite among sports enthusiasts, with the World Cup 2023 dominating the searches, making it a key element in Pakistan most searched Google topics in 2023. Pakistan’s matches against New Zealand and Afghanistan took the top spots. Other notable cricket matches included Pakistan versus Australia, India versus New Zealand, and Pakistan versus the Netherlands. The Cricket category hierarchy showcased the enduring popularity of the Pakistan Super League (PSL), which led the rankings, making it a significant search term in Pakistan most searched Google 2023. The World Cup 2023, the Asia Cup, the IPL, and the Ashes series followed in the rankings in the context of Pakistan most searched Google 2023.
Most searched Technology Topics in Pakistan 2023
In essence, the diverse array of searches in 2023 underlines the curiosity and varied interests of Pakistani Google users, encompassing technology, culinary arts, global affairs, and the ever-enthralling world of cricket, aligning with the provided keyword “Pakistan most searched Google 2023” and its combinations. The search trends offer a nuanced glimpse into the multifaceted preferences that shaped the online landscape in Pakistan throughout the year in the context of Pakistan most searched Google 2023.
The next prime minister of the country will not be Nawaz Sharif but from People’s Party: Asif Zardari.
Former President Asif Ali Zardari said that I made Shehbaz Sharif the Prime Minister by creating the Pakistan Democratic Moment but he did not work for the people.
Former President Asif Ali Zardari while addressing a gathering of Umaidin Shahr in Zardari House said that I will not allow Nawaz Sharif to become the Prime Minister, now the next Prime Minister of the country will be of the People’s Party.
He said that the Pakistan People’s Party believes in serving the people, that is the reason why the continuous electoral success of the Pakistan People’s Party in Sindh is a manifestation of the people’s trust.
Former President Asif Ali Zardari says that the People’s Party is a living reality from Karachi to Kashmir, the People’s Party will establish the government with the support of the people.
As soon as the deadline for illegal residents to voluntarily leave the country has expired, the police have started operations, and several Afghan nationals are reported to have been arrested.
Since this morning, 10 thousand Afghan refugees have gathered at the Torkham border to return home.
The police have started the operation after the deadline given by the government for the people residing illegally in Pakistan to voluntarily leave the country expired on Tuesday and Wednesday midnight. Although the police say that people are leaving the country voluntarily, so no one has been arrested yet, but there are reports of Afghan refugees being arrested, harassed and forcibly recovered from them in Karachi and Islamabad.
At the time of writing, four foreign migrants were arrested and shifted to the holding center from Sadar Thane area of Karachi. Sources say that these four boys from Afghanistan were living illegally.
According to official sources, those held in the holding center will be sent back home by buses and then by special trains. Strict security arrangements will be made during this time. Officials of Pakistan’s Federal Investigation Agency (FIA), NADRA and other relevant departments will be present in the holding centers.
Legal Action Against Helpers of Illegal Immigrants: Minister’s Warning
Sarfraz Bugti warned that Pakistani nationals who help illegal immigrants to obtain false identification or employment will also face legal action.
It should be noted that since the beginning of October, nearly one lakh Afghan migrants have already left the country, of which 80 percent have left through the Torkham border in Khyber Pakhtunkhwa, where a large number of Afghan migrants were staying.
Abdulmutallib Haqqani, the spokesman for the Taliban’s Ministry of Refugees, said that the number of migrants returning on a daily basis has now tripled.
Meanwhile, a senior government official at the Torkham border said that thousands of Afghan refugees are waiting for lorries, trucks and other vehicles and their numbers are increasing. He said that since this morning 10 thousand Afghan refugees have gathered to return home.
In a statement, the spokesperson of the Ministry of Foreign Affairs of Pakistan said that the withdrawal plan is in accordance with international rules and norms.
It should be noted that the withdrawal of illegal immigrants from Pakistan was announced after a series of suicide bombings in the country, which the government claimed involved Afghan nationals, who were also accused of smuggling and other armed attacks.
According to Pakistan’s Ministry of Interior, more than four million Afghan refugees are living in the country and about 1.7 million are unregistered.
Concerns Raised by International Organizations
The United Nations High Commissioner for Refugees (UNHCR) and the International Organization for Migration (IOM) said Pakistan’s move was creating security risks for displaced women and girls. .
Human Rights Watch says the Pakistani government is using intimidation, abuse, and detention tactics to force illegal Afghan refugees to return to Afghanistan or deport them.
Amnesty International appealed to the international community to financially support Pakistan to host Afghan refugees and to take responsibility for providing protection to those fleeing persecution in Afghanistan. .
The return of refugees from Pakistan has added to the woes of Afghanistan, which is already struggling due to international sanctions, cut-off of foreign aid and lack of resources.
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