IHC terms Shireen Mazari's arrest unlawful

The Islamabad High Court (IHC) on Thursday directed the National Assembly secretary to submit a report regarding PTI leader and former human rights minister Dr Shireen Mazari's May 21 arrest, which IHC Chief Justice Athar Minallah observed was "not according to the legal process".

The IHC, while hearing a petition filed by the former minister's daughter, Imaan Zainab Mazari-Hazir, had termed Mazari's arrest in a land case registered with the Anti-Corru­ption Establishment (ACE) as unlawful. It had also ordered a judicial inquiry into her arrest and asked the federal government to frame its terms of reference (ToRs).

When the hearing resumed today, Deputy Attorney General Arshad Mehmood Kiani presented a notification issued by the federal government to constitute an inquiry commission.

The notification dated June 4, a copy of which is available with Dawn.com, stated the commission's ToRs. The members of the commission are retired justice Shakoor Paracha, retired inspector general of police (IGP) Dr Naeem Khan and retired federal secretary Saifullah Chattha.

According to the notification, the commission would inquire into the abuse of powers by public functionaries leading to deprivation of the right to liberty, ascertain the reason for failure to effectively investigate and hold perpetrators of the crime accountable, conduct an impartial and fair probe into Mazari's arrest, and make recommendations to prevent such incidents in the future.

The commission would submit its report to the federal government within 30 days, the notification stated.

During the hearing today, Mazari's lawyer, Ali Bokhari, argued that the commission had not undertaken any activity since the notification was issued, including summoning the former minister.

He also asked the court to inquire from the deputy AG whether his client's application to include the investigation of criminal proceedings against her in the ToRs had been accepted.

However, Justice Minallah observed that the court could not supervise the commission and asked the lawyer to let the body do its work.

The court's opinion was that the action against Mazari was "not according to the legal process", the judge observed.

He told the lawyer to submit another request if he had any objections in the future.

He then asked whether any report had been submitted by National Assembly Speaker Raja Pervaiz Ashraf. The deputy AG replied that he had not been given any report.

Justice Minallah observed that another MNA, Ali Wazir, was still in jail. "When they (PTI) were in government, they happily put people in [jail]. Have such incidents been investigated in this court?" he asked.

Subsequently, the court directed the NA secretary to submit the report and adjourned the hearing till July 7.

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Rupee free fall continues amid investor’s lackluster

The US dollar breached another record on Thursday as it rose past Rs207 during early morning trade owing to concerns over depleting foreign exchange reserves and ambiguity regarding Pakistan's deal with the International Monetary Fund (IMF).

According to the Forex Association of Pakistan (FAP), the greenback was trading at Rs207.25, up 85 paisa at 12:20pm compared to the previous day's close of Rs206.46. On Wednesday, it had appreciated by Rs1.30.

In the open market, the dollar was trading at Rs208 today.

Asad Rizvi, former treasury head at Chase Manhattan Bank, outlined the rapid decline in the country's foreign exchange reserves as the main factor pressuring the rupee. "The urgency is to get the house in order per the IMF."

During the week ended June 3, liquid foreign exchange reserves of the State Bank of Pakistan declined by $497 million to $9.2 billion.

He highlighted that the government's measures of increasing the prices of petrol, electricity, and gas were not enough. "It will have to take more tightening measures in terms of abolishing subsidies, reducing the deficit, and imposition of additional taxes."

Rizvi further pointed out the need to resolve minor issues such as the 9 per cent tax to GDP ratio, 79 per cent GOP holdings, and 53 per cent advance deposit ratio so that the economy could get back on the track of stability.

On the other hand, Tresmark's research head Komal Mansoor said that the market would stay anxious until the IMF deal concluded. "That will also unlock other multilateral flows."

"It looks like the rupee may bottom out below the Rs210 level as many exporters are eager to look forward now,” she predicted.

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PM shifts blame on PTI for high fuel prices

Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release "details soon" regarding the previous PTI regime's deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised fuel prices by as much as nearly Rs60, with petrol reaching Rs233.89 — unprecedented in the country's history.

I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1

— Shehbaz Sharif (@CMShehbaz) June 16, 2022

"Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon," wrote the prime minister.

"We will get out of these economic difficulties, InshaAllah," he added.

PM Shehbaz followed by criticising the past government's handling of negotiations with the global lender, saying: "I wonder whether those who struck the worst ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?"

"Details soon," he reiterated.he surge in prices, although a highly unpopular move that has the nation fuming, had been a key demand of the IMF for a long time.

Finance Minister Miftah Ismail on Monday said that if the government does not abolish the subsidies on petroleum products by July (in effect raising the prices), then the country will default.

In a bid to bring economic stability and revive the stalled multi-billion-dollar IMF programme, the government had increased the price of petrol by a whopping Rs60 per litre last month.

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PM shifts blame on PTI for high fuel prices

Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release "details soon" regarding the previous PTI regime's deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised fuel prices by as much as nearly Rs60, with petrol reaching Rs233.89 — unprecedented in the country's history.

I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1

— Shehbaz Sharif (@CMShehbaz) June 16, 2022

"Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon," wrote the prime minister.

"We will get out of these economic difficulties, InshaAllah," he added.

PM Shehbaz followed by criticising the past government's handling of negotiations with the global lender, saying: "I wonder whether those who struck the worst ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?"

"Details soon," he reiterated.he surge in prices, although a highly unpopular move that has the nation fuming, had been a key demand of the IMF for a long time.

Finance Minister Miftah Ismail on Monday said that if the government does not abolish the subsidies on petroleum products by July (in effect raising the prices), then the country will default.

In a bid to bring economic stability and revive the stalled multi-billion-dollar IMF programme, the government had increased the price of petrol by a whopping Rs60 per litre last month.

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Shehbaz Sharif promises that he will release "details soon" regarding PTI's deal

Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release "details soon" regarding the previous PTI regime's deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised fuel prices by as much as nearly Rs60, with petrol reaching Rs233.89 — unprecedented in the country's history.

I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1

— Shehbaz Sharif (@CMShehbaz) June 16, 2022

"Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon," wrote the prime minister.

"We will get out of these economic difficulties, InshaAllah," he added.

PM Shehbaz followed by criticising the past government's handling of negotiations with the global lender, saying: "I wonder whether those who struck the worst ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?"

"Details soon," he reiterated.he surge in prices, although a highly unpopular move that has the nation fuming, had been a key demand of the IMF for a long time.

Finance Minister Miftah Ismail on Monday said that if the government does not abolish the subsidies on petroleum products by July (in effect raising the prices), then the country will default.

In a bid to bring economic stability and revive the stalled multi-billion-dollar IMF programme, the government had increased the price of petrol by a whopping Rs60 per litre last month.

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Shehbaz Sharif promises that he will release "details soon" regarding PTI's deal

Prime Minister Shehbaz Sharif on Thursday promised the nation that his government would release "details soon" regarding the previous PTI regime's deal with the International Monetary Fund (IMF).

His message on Twitter comes a day after the government raised fuel prices by as much as nearly Rs60, with petrol reaching Rs233.89 — unprecedented in the country's history.

I wonder whether those who struck the worst ever deal with IMF & took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing? Details soon https://t.co/6Cjeimgfd1

— Shehbaz Sharif (@CMShehbaz) June 16, 2022

"Acutely aware of the impact that a fuel price hike causes. Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed. Will take the nation into confidence on the specifics of the IMF-PTI deal soon," wrote the prime minister.

"We will get out of these economic difficulties, InshaAllah," he added.

PM Shehbaz followed by criticising the past government's handling of negotiations with the global lender, saying: "I wonder whether those who struck the worst ever deal with IMF and took patently bad economic decisions have the conscience to face the truth. How can they pretend to be innocent when what the nation is going through is clearly their doing?"

"Details soon," he reiterated.he surge in prices, although a highly unpopular move that has the nation fuming, had been a key demand of the IMF for a long time.

Finance Minister Miftah Ismail on Monday said that if the government does not abolish the subsidies on petroleum products by July (in effect raising the prices), then the country will default.

In a bid to bring economic stability and revive the stalled multi-billion-dollar IMF programme, the government had increased the price of petrol by a whopping Rs60 per litre last month.

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Govt hikes petrol price by Rs24 per litre

Finance Minister Miftah Ismail on Thursday announced that the federal government has decided to raise the prices of petroleum products by Rs24 per litre.

The new prices will come into effect from midnight tonight, the minister said while addressing a press conference in Islamabad.

After the hike, petrol will be priced at Rs233.89 after a Rs24.03 hike, diesel at Rs263.31 after a Rs16.31 increase, kerosene oil at Rs211.47 after a Rs29.49 surge and light diesel at Rs 207.47 after an increase of Rs29.16.

Ismail said the government had no choice but to "pass on" the impact of international prices to consumers in Pakistan.

The government has raised the petrol price by more than Rs84 per litre in the last 20 days.

Explaining the reasons behind another hike in prices of petroleum products, the minister said that the international price of petrol was $120 per litre.

"Our country is still facing a loss of Rs24.03 in petrol, Rs59.16 in diesel, Rs29.49 in kerosene oil and Rs29.16 in light diesel oil," he told the presser.

He said the government was spending Rs120 billion on petrol subsidies. "I have been seeing the country's situation for 30 years, but I've never seen such a situation in terms of inflation."

He also blamed former prime minister Imran Khan for deteriorating the national economy.

Ismail said the government was tied by agreements made by the PTI government with the International Monetary Fund (IMF).

He acknowledged that the middle-class will also suffer from the petrol price hike, adding the government

"We have taken difficult decisions before and we will take in the future as well to protect the country from financial difficulties," the minister said.

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