Latest news with #Form-47
Business Recorder
2 days ago
- Politics
- Business Recorder
PTI warns oil reserves may run out in 10-12 days
ISLAMABAD: The opposition leader in National Assembly Omar Ayub on Wednesday issued a stark warning that the country's oil reserves could run dry in just 10 to 12 days, underscoring what he called the government's catastrophic economic collapse and ruthless political manoeuvring. Speaking at a presser flanked by senior Pakistan Tehreek-e-Insaf (PTI) leaders Asad Qaiser, Senator Ali Zafar, Zartaj Gul, and others, Ayub tore into the government's 'flawed and inflation-fuelling' budget – accusing it of squeezing citizens with billions in fresh taxes while bungling the nation's already precarious finances. He further revealed a jaw-dropping admission by the Federal Board of Revenue (FBR) of a multi-billion-rupee miscalculation – a fiscal blunder that threatens to deepen the country's economic abyss. Ayub also alleged the government continues to conspire against PTI lawmakers despite 'stealing' the February 2024 general elections and riding to power on a rigged mandate. 'The installed regime of Shehbaz Sharif remains obsessed with election rigging,' Ayub declared, pointing to the Punjab Police's blatant manipulation during the recent by-elections in Sialkot to favour a government-backed candidate – an act he branded as 'shameful' and a direct assault on democracy. The opposition leader did not hold back on the government's crackdown on dissent either, accusing it of stifling opposition voices and tightening control over the media – highlighted by the censorship of PTI lawmakers' speeches during the budget debate and blackouts of press conferences on critical national issues, especially the faltering economy. In a dramatic revelation, Ayub disclosed that three of his nomination papers were mysteriously rejected ahead of the last year's polls and alleged that election results were tampered with after 2am – a blatant undermining of democratic norms. Asad Qaiser condemned the current administration as 'born out of Form-47 manipulation,' blasting the government's media blackout of opposition members while ruling party officials bask in prime airtime. Senator Ali Zafar added to the chorus, warning that even the Senate Chairman Syed Yousaf Raza Gilani is being sidelined in what he described as a 'serious institutional meltdown.' Meanwhile, PTI launched a scathing attack on the government's targeting of former Prime Minister Imran Khan's family – particularly his wife, Bushra Bibi – while dismissing the recent visits by foreign delegations as mere 'luxury trips' that delivered no tangible benefits to Pakistan. With jail terms dragging on for key PTI figures, including cancer patient Dr Yasmin Rashid, PTI leaders vowed to fight back hard, pledging to win the ongoing battle for 'real independence' as envisioned by the jailed party founding chairman, Imran Khan. In a separate presser, PTI spokesman Sheikh Waqas Akram, alongside MNAs Usman Mela and Mubeen Jutt, raised concerns over Pakistan's widening primary income deficit and escalating national debt. Citing economic reports, Akram said the deficit, currently estimated at $7.1 billion annually, is being driven by increased profit repatriation by foreign companies and declining returns from Pakistani firms abroad. This growing gap, he warned, is intensifying pressure on the country's external accounts. Mubeen Jutt claimed that Pakistan's total debt has surged to Rs76 trillion, up from Rs44 trillion three years ago when PTI was in power. He said that domestic banks now hold Rs51 trillion of this debt, while foreign banks account for Rs25 trillion. According to Jutt, annual interest payments total Rs7.5 trillion to local banks and Rs800 billion to foreign banks. Despite the central bank's policy rate being slashed from 22 per cent to 11 per cent and maintained at that level, domestic debt remains elevated – raising alarm among economists. Usman Mela criticised the recent budget's tax measures, which reduced levies on banks lending to the government but increased taxes on individual loans. 'The average borrower now faces a tax rate of 25%, up from 10%,' he said, calling the policy regressive. He noted domestic debt has nearly doubled from Rs28 trillion prior to the IMF programme to Rs51 trillion. While a three per cent interest rate cut could save Rs1 trillion annually, projected savings remain limited, with Rs7 trillion in interest payments expected this year. 'There appears to be disproportionate benefit to banks, with ordinary citizens effectively paying much higher rates,' Mela said, also questioning official projections of 9% industrial growth, citing a lack of on-ground expansion. Copyright Business Recorder, 2025
Business Recorder
10-06-2025
- Business
- Business Recorder
Pakistan Economic Survey: Economic performance misrepresented: PTI
ISLAMABAD: The opposition Pakistan Tehreek-e-Insaf (PTI) on Monday strongly criticised the Economic Survey for the fiscal year 2024-25, dismissing the reported 2.7% GDP growth rate as both embarrassing and manipulated. The opposition party accused the government of misrepresenting the country's economic performance ahead of the annual budget, due to be presented in the National Assembly Tuesday. Speaking at a presser, PTI spokesman Sheikh Waqas Akram said: 'At least 30 million people in Pakistan have fallen below the poverty line. These were the very people brought in by the current regime to fix the economy, yet they ended up extinguishing household stoves instead.' The remarks came shortly after Finance Minister Muhammad Aurangzeb unveiled the Economic Survey for 2024-25, which reported GDP growth of 2.7% and an inflation rate of 4.6% for the outgoing fiscal year. According to the finance minister, the economy had begun to recover after the 2023 fiscal year and was showing signs of stability and consolidation moving into 2025. The survey, released a day ahead of the 2025-26 federal budget, provides an overview of Pakistan's socio-economic performance, including GDP trends, tax revenue, industrial output, and other fiscal indicators. Akram challenged the government's economic claims, drawing comparisons with growth under the PTI-led administration of former prime minister Imran Khan. 'They used to scoff at the 6.5% growth rate achieved under our government. But over the past three years, the average growth has been only 1.5%,' he said. Describing the current figures as 'fake and misleading,' he likened the growth numbers to Form-47 – a reference to alleged rigging during the 8 February general elections. He also questioned the credibility of the Economic Survey for 2024-25, saying it failed to reflect the economic hardships being faced by the general population. 'The people have become economically orphaned under this government,' he claimed. Akram further cited a reported 13.5% decline in the agriculture sector, accusing the government of pursuing policies that were anti-farmer and, in his words, akin to enmity with the nation. Copyright Business Recorder, 2025
Business Recorder
10-06-2025
- Business
- Business Recorder
Economic Survey: Economic performance misrepresented: PTI
ISLAMABAD: The opposition Pakistan Tehreek-e-Insaf (PTI) on Monday strongly criticised the Economic Survey for the fiscal year 2024-25, dismissing the reported 2.7% GDP growth rate as both embarrassing and manipulated. The opposition party accused the government of misrepresenting the country's economic performance ahead of the annual budget, due to be presented in the National Assembly Tuesday. Speaking at a presser, PTI spokesman Sheikh Waqas Akram said: 'At least 30 million people in Pakistan have fallen below the poverty line. These were the very people brought in by the current regime to fix the economy, yet they ended up extinguishing household stoves instead.' The remarks came shortly after Finance Minister Muhammad Aurangzeb unveiled the Economic Survey for 2024-25, which reported GDP growth of 2.7% and an inflation rate of 4.6% for the outgoing fiscal year. According to the finance minister, the economy had begun to recover after the 2023 fiscal year and was showing signs of stability and consolidation moving into 2025. The survey, released a day ahead of the 2025-26 federal budget, provides an overview of Pakistan's socio-economic performance, including GDP trends, tax revenue, industrial output, and other fiscal indicators. Akram challenged the government's economic claims, drawing comparisons with growth under the PTI-led administration of former prime minister Imran Khan. 'They used to scoff at the 6.5% growth rate achieved under our government. But over the past three years, the average growth has been only 1.5%,' he said. Describing the current figures as 'fake and misleading,' he likened the growth numbers to Form-47 – a reference to alleged rigging during the 8 February general elections. He also questioned the credibility of the Economic Survey for 2024-25, saying it failed to reflect the economic hardships being faced by the general population. 'The people have become economically orphaned under this government,' he claimed. Akram further cited a reported 13.5% decline in the agriculture sector, accusing the government of pursuing policies that were anti-farmer and, in his words, akin to enmity with the nation. Copyright Business Recorder, 2025
Hindustan Times
24-05-2025
- Politics
- Hindustan Times
‘Holds no real power': Imran Khan calls Pakistan government ‘puppet,' says he will talk only with military
Pakistan's jailed former prime minister Imran Khan on Saturday said that he will only negotiate with the military establishment, dismissing talks with the 'puppet' Pakistan Muslim League-Nawaz (PML-N) government as pointless. Khan, founder of Pakistan Tehreek-e-Insaf (PTI), has been imprisoned since August 2023 and faces multiple cases following his government's ousting in April 2022. 'Engaging in any talks with the puppet Pakistan Muslim League-Nawaz (PML-N) government is pointless. This illegitimate Form-47 installed government has already wasted two months. Its only objective is to cling to false authority. It holds no real power,' Khan posted on X. He added, 'Talks will only be held with those who actually hold power (military establishment), and only in the national interest. I do not fear hardship as my resolve remains strong.' Khan alleged that fabricated political cases, forced abductions, and coerced press conferences aim to force PTI members to publicly disassociate from the party, asserting, 'All prove that the rule of law has been entirely dismantled. What we now have is the law of the jungle.' He also condemned ongoing trials related to the May 9, 2023 events as a 'false flag operation' intended to crush PTI, saying that 'No CCTV footage has been presented to this day.' Refuting claims of any negotiation attempts, Khan said, 'No one has approached me for any negotiations. News claiming otherwise is entirely false.' He further lamented restrictions on his family visits and medical care but vowed, 'Despite this, I will continue to stand firm for the sake of my nation.' The statements on X mention that Imran Khan shares his messages from Rawalpindi's Adiala Jail with lawyers, who then post them on his account. Earlier, Khan had also slammed Pakistan Army chief Asim Munir's promotion to field marshal, saying in a statement on X that the title of 'king' would have been more fitting. With PTI inputs
Time of India
24-05-2025
- Politics
- Time of India
‘Pointless; holds no real power': Imran Khan rejects talks with ‘puppet' govt, seeks dialogue only with military
File photo: Former Pakistani Prime Minister Imran Khan (Picture credit: ANI) Jailed former Pakistani Prime Minister Imran Khan has ruled out any negotiations with Pakistan's civilian government, declaring that only talks with the country's military establishment are meaningful. In a post on X, Khan said, 'Engaging in any talks with the puppet Pakistan Muslim League-Nawaz (PML-N) government is pointless. This illegitimate Form-47 installed government has already wasted two months. Its only objective is to cling to false authority. It holds no real power.' Khan, who has been behind bars since August 2023 in multiple cases following the collapse of his government in April 2022, stressed that negotiations would only be held with those who actually 'hold power', the military establishment, and only in the national interest. 'I do not fear hardship as my resolve remains strong,' he said, while alleging that political cases, abductions, and forced press conferences were being used to dismantle his Pakistan Tehreek-e-Insaf (PTI) party. 'All prove that the rule of law has been entirely dismantled. What we now have is the law of the jungle,' he added. Reiterating his stance from earlier this week, Khan stated that May 9, 2023, the day of violent protests after his arrest, was a 'false flag operation' designed to crush PTI. 'No CCTV footage has been presented to this day... The truth will be evident to all if the CCTV footage of that day is made public,' he added, as reported by news agency PTI. In a separate post, Khan also dismissed media reports suggesting that a deal was in the works with the military. 'No one has approached me for any negotiations. News claiming otherwise is entirely false,' he said, adding that despite harsh jail conditions, including denial of access to his children and physician, he remains steadfast. He recently took a swipe at Army chief General Asim Munir's promotion to Field Marshal, saying 'it might have been more fitting to give him the title of 'King' instead, because right now, the country is ruled by the law of the jungle. And in the jungle, there is only one king,' as per PTI. Meanwhile, the Punjab government said Khan has refused to undergo polygraph and voice analysis tests in 12 terrorism cases linked to the May 9 riots for the third consecutive time. Pakistani Punjab's information minister Azma Bokhari accused Khan of defying court orders, saying he made repeated excuses to avoid the tests. 'He must understand this is Adiala Jail, not his Bani Gala residence,' she said. The trial in the GHQ attack case, which was last heard in February, has been adjourned again until May 29. Separately, the hearing in the Toshakhana-II case was postponed to May 26. Khan's party has also urged the Islamabad High Court to speed up hearings in the Al-Qadir Trust case involving Khan and his wife, Bushra Bibi. Protests continue outside the court, with party members demanding Khan's release and denouncing what they call 'unjust incarceration.'
