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Pakistanis to face ‘more difficult times’: PM Shehbaz Sharif

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  • PM Shehbaz Sharif says “companions” suggested making election reforms and announcing elections but govt plans to complete constitutional term.
  • Terms with the IMF have been finalised and the deal will close soon: PM
  • Says PTI “saw their defeat” in March, “arbitrarily” lowered fuel prices.

Prime Minister Shehbaz Sharif on Thursday said that the country may witness more difficult times as it struggles to steer itself out of the ongoing economic crisis.

The coalition government has recently taken some “tough” decisions, including a massive increase on petroleum prices.

PM Shehbaz Sharif, while addressing PML-N senators, said that some of his “companions” suggested making election reforms and announcing elections but the government plans to complete its constitutional term.

“We faced many challenges when I took oath as the prime minister,” the premier said.

He said that the former government had struck a deal with the International Monetary Fund (IMF) to pass on the international prices of oil and gas.

PM Shehbaz Sharif said that the terms with the IMF have been finalised and the deal with the Fund will close soon, barring any other conditions set by the global lender.

Criticising the PTI government further, he said that the previous government “never felt strongly about doing anything for widows and the poor”.

“They saw their defeat in March and so they lowered fuel prices,” the prime minister said, adding that they just arbitrarily made the decision.

The previous government signed a petroleum levy of Rs30 with the IMF, he said.

Speaking of lost opportunities, the premier said that “billions and trillions of treasures” are buried in Reko Diq “but we could not dig them out”.

“This is the fault of the leadership which dealt with the matter in the wrong way,” he said.

The premier said that the PTI is facing scandals of gas and wheat exports. “They gave billions in subsidies, emptied the coffers, and the cartels had a field day,” he said.

He went on to say that “it will no do good to look back and cry”.

PM Shehbaz, referring to the recently inked $2.3bn loan agreement with a Chinese consortium of banks, said: “How long will China help us?”

“China and Saudi Arabia must be wondering when Pakistan will stand on its own feet,” he remarked.

The prime minister said it was the need of the hour to set aside politics and put the state above everything else.

“If the state survives, so will our politics.”

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Minutes after taking off from Lahore airport, a private airline plane was “hit by a bird.”

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Details show that an aircraft from Lahore to Karachi took off from the airport in Lahore, but it made a problematic landing a few seconds later.

The aircraft carrying 180 passengers was successfully landed at the Lahore airport by the pilot. They have moved the passengers of the impacted flight to the airport lounge.

Bird strikes on aircraft have been documented occasionally at the nation’s airports, yet the problem persists in spite of the CAA’s assertions.

In the first 11 months of 2022, birds struck at least 57 Pakistan International Airlines (PIA) aircraft.

Details indicate that PIA published a report on aircraft struck by birds in 2022.

53 bird-hit instances were documented between January and October, and four incidents were logged in November, the study states. The airport in Lahore International was the site of most of the incidents.

According to the research, five of the 57 PIA aircraft were damaged in 2022 due to bird collisions, but the aircraft were spared significant damage in 59 instances.

In addition, the birds struck twelve PIA planes during approach, eight during takeoff, and 21 after landing.

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Deputy Prime Minister to Represent Pakistan at CHOGM in Samoa in 2024

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Senator Muhammad Ishaq Dar, the deputy prime minister and foreign minister, will lead Pakistan’s delegation to the Commonwealth Heads of Government meeting in Samoa.

Pakistan’s views on major global issues and concerns will be discussed at the conference by the Deputy Prime Minister, who will concentrate on climate change, economic growth, and enhancing international collaboration within the Commonwealth.

His keynote speech at the Commonwealth Business Forum on “Transforming Our Workforce” will focus on Pakistan’s focus on digital transformation, skill development, and youth empowerment.

He will converse with the heads of delegation from other Commonwealth nations as well.

Mumtaz Zahra Baloch, the spokesperson for the Foreign Office, said in a statement that Pakistan’s attendance at CHOGM 2024 is a reflection of its ongoing dedication to the Commonwealth and its ties with tiny island pacific nations.

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China Contributes 43 New Foreign Firms to the 6% Growth in SECP Registrations

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The Securities and Exchange Commission of Pakistan has registered 2,617 new firms this year, a 6% increase from 2023, with assistance from the Special Investment Facilitation Council. This increases the overall number of businesses that are registered to 231,111.

Non-profits, trade associations, and public unlisted firms make up 4% of these, while private limited corporations make up 55% and single-member companies 41%. It is noteworthy that 99.8% of the registrations were done online, demonstrating SECP’s attempts to digitise.

Real estate has 237 new businesses, services has 306, and trade has 377 new businesses. These are the main sectors exhibiting growth. While the healthcare and textile industries each had 49 new businesses, the education sector saw 101.

China contributed the most, adding 43 new companies, out of the 61 new companies that were registered as a result of foreign investment.

These recently registered businesses are anticipated to decrease imports, increase domestic production, and contribute to closing the trade deficit.

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