Independent Pakistan – I know what I believe I know

Exporters warn of 30 percent decline unless budget breaks from tax-heavy IMF playbook

KARACHI: Pakistan’s most powerful business lobby warned on Thursday that export earnings could fall by as much as 30% in the coming fiscal year unless the government abandons what it called an IMF-driven, revenue-first budget framework in favor of policies that actively support industrial competitiveness.

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Pakistan denies sharing Iran nuclear intelligence with Rubio, calls claims ‘baseless’

ISLAMABAD: The Foreign Office on Thursday issued a sharp denial of reports that Deputy Prime Minister and Foreign Minister Ishaq Dar had passed sensitive intelligence to US Secretary of State Marco Rubio about Iran’s nuclear program, calling the claims fabricated and potentially designed to sabotage fragile diplomatic efforts across a region already bristling with tensions.

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No more appeals: Top court upholds death sentence for killer Zahir Jaffer who murdered and beheaded Noor Mukadam

The Supreme Court rejected the last legal appeal filed by Zahir Jaffer, the Pakistani-American heir to an industrial fortune who was convicted of the July 2021 killing of Noor Mukadam, 27, and has now exhausted nearly every avenue of appeal available to him under Pakistani law. The three-member bench, led by Justice Muhammad Hashim Khan Kakar, announced the decision after nearly four hours of oral argument, cementing a death sentence that has survived review at every level of the country’s judiciary.

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Pakistan’s Budget of Borrowed Time

There is a ritual quality to Pakistan’s annual budget exercise that has grown almost theatrical in its predictability. The finance minister rises. Revenue targets are announced with conviction. Tax-base broadening is pledged. The IMF nods approvingly from Washington. The press covers it for two days. Then the lobbyists who were in Islamabad the week before the budget speech collect their exemptions, the salaried class discovers its withholding has increased, and the country proceeds to do exactly what it did the year before — borrow to survive, reform to perform, and grow barely enough to matter.

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From ‘effing crazy’ to ‘great friend’: The theatre of Trump’s Middle East and why it should terrify us all

There is a particular kind of presidential humiliation that arrives not with a single catastrophic event but in the accumulated weight of contradictions — the triumphant declaration that quietly curdles into farce. Donald Trump is living inside one of those moments now, and the remarkable thing is that he seems barely to have noticed.

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Pakistan issues emergency LNG tender on crisis cell orders as spot prices approach $20

KARACHI: Pakistan has issued a spot tender for a liquefied natural gas cargo to be delivered within days, acting on instructions from a prime ministerial crisis body, as the government races to prevent power shortfalls during peak summer demand, and bids are likely to arrive at prices near $20 per million British thermal units.

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Islamabad faces Rs1.7 trillion budget hole, seeks provincial rescue

ISLAMABAD: The federal government is struggling to piece together next year’s budget around a roughly Rs1.7 trillion fiscal hole and is pressing the country’s wealthiest provinces to absorb a substantial share of the shortfall, according to Khyber Pakhtunkhwa’s finance adviser — the latest sign that Islamabad’s annual budget exercise has devolved into open coalition brinksmanship.

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