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Pakistan’s bonds dive as IMF talks end without deal

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Pakistan's bonds dive as IMF talks end without deal

Pakistan’s government bonds slumped on Friday after the country’s bailout talks with the International Monetary Fund ended without an agreement.

IMF stresses on ‘timely, decisive’ implementation of policies as virtual discussions to continue

The country’s bond due for repayment the soonest, in April 2024, tumbled 4.6 cents on the dollar or roughly 9%. Other bonds with longer repayment dates fell between 2 and 3 cents to leave them at less than half their face value.

An IMF staff mission visited Islamabad from January 31 until February 9 to discuss the ninth review of a $7 billion loan programme.

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Govt to impose Rs170bn in additional taxes, MEFP shared with Pakistan: Dar

The Washington-based lender has asked for more time for negotiations with Pakistan over a deal that would unlock $1.1 billion in much-needed funds for the country, Secretary of Finance Hamed Sheikh said Thursday. 

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Jansen makes double contribution as South Africa win Australia series

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Jansen makes double contribution as South Africa win Australia series

All-rounder Marco Jansen shone with bat and ball as South Africa won the fifth and final One Day International against Australia by 122 runs at the Wanderers on Sunday to complete a come-from-behind series victory.

Jansen scored 47 runs off 23 balls as South Africa overcame a slow start to set a formidable target of 315-9 after being sent in to bat first.

He then took a career-best ODI haul of 5-39 off eight overs, as the visitors were dismissed for 193 in 34.1 overs.

The win ensured a 3-2 series victory for South Africa, who lost the opening two matches but bounced back with three successive wins to boost morale before next month’s World Cup in India.

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The new ball seamed around early in the thin Highveld air and saw South Africa struggle with opener Quinton de Kock, who has announced his retirement from ODIs after the World Cup, out cheaply in his last home innings. Heinrich Klaassen, who scored 174 on Friday, was then bowled out for six by Adam Zampa, who he had hit to all corners two days earlier.

But South Africa set about the bowling as Aiden Markram and David Miller put on 109 runs in 107 balls for the fifth wicket before the partnership was broken by the first delivery in ODI cricket by part timer Tim David. Markram top edged him to Michael Neser, who had dropped him earlier on 81, at deep square leg to depart seven runs short of his century.

David Miller and Jansen then continued the assault with Miller scoring 63 runs. There was also a late cameo from Andile Phehlukwayo, who hits three sixes in the last over to see South Africa past the 300-mark.

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PPP reiterates resolve to hold elections on time

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PPP reiterates resolve to hold elections on time

 Pakistan Peoples Party (PPP) on Tuesday demanded the government to hold the general elections within 90 days in the country.

The PPP tabled its reservations during a meeting held with Chief Election Commissioner (CEC) Sikandar Sultan Raja.

The party reiterated its resolve to hold general elections on time, saying that they should be held within the 90-day period as per the constitution.

On August 17, the electoral body announced the schedule of new delimitations to be carried out as per the new census approved by the Council of Common Interests (CCI) earlier this month.

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The ECP schedule showed that fresh delimitation will take nearly four months, meaning the general elections in the country cannot be held within 90 days of the dissolution of the provincial and national assemblies.

Read also: JI moves SC for timely elections

Addressing a post-meeting press conference, PPP Vice President Sherry Rehman said that they had a meeting with the ECP in a pleasant environment during which they raised their reservations about the general elections.

“It s the electoral body’s responsibility to conduct the elections, however, the constitution says the polls should be held within 90 days after the dissolution of the National Assembly,” said Rehman.

Speaking on the occasion, PPP leader Nayyar Bukhari said that the constitution says elections should be conducted within the given time period.

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“We will finalise our next action plan in the CEC meeting in Lahore,” said Bukhari.

Earlier today, the Jamaat-i-Islami also filed a petition in the Supreme Court seeking general elections in the country within 90 days after dissolution of the National Assembly.

JI leader Liaquat Baloch filed the petition through his lawyer.

In the petition, the apex court was requested to issue order for holding general elections in the country within 90 days as per the constitution.

The court was further requested to order the Election Commission of Pakistan to issue election schedule, and relevant institutions must be directed to assist the commission in holding elections in the country.

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The federal government, ECP and caretaker provincial governments made respondents in the petition.

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PPP marks 70th birth anniversary of Benazir Bhutto

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PPP marks 70th birth anniversary of Benazir Bhutto

The Pakistan People’s Party (PPP) is observing the 70th birth anniversary of former prime minister Mohtarma Benazir Bhutto on Wednesday.

Ceremonies have been held in various parts of the country where cakes were cut to mark the day.

A ceremony was held at Sindhi Adabi Board in Jamshoro district on Tuesday.

PPP’s senior leader and Chairman of the board Makhdoom Saeed-uz-Zaman and member Board of Governors Sarfaraz Rajar cut the birthday cake.

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Born in Karachi on June 21, 1953, into a wealthy landlord Sindhi family, who was politically influential also, Benazir was assassinated on December 27, 2007, in Rawalpindi.

Her father Zulfikar Ali Bhutto was elected prime minister in 1973, her grandfather Sir Shah Nawaz was deewan (prime minister) of erstwhile state of Junagarh and great grandfather Ghulam Murtaza Bhutto was a big landlord of Larkana.

Benazir studied at Harvard University and the University of Oxford, where she was President of the Oxford Union.

She served as the 11th and 13th prime minister from 1988 to 1990 and from 1993 to 1996. She was the first woman elected to head a democratic government in a Muslim-majority country.

In his message, her son Bilawal reiterated to follow her philosophy for the supremacy of the constitution and parliament.

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According to a statement, the PPP chairman paid tribute to the first elected woman prime minister of the Islamic world on her 70th birth anniversary and said that Dukhtar-e-Mashriq (Daughter of the East) was a ray of light for the nation trapped in darkness.

“I assure the nation that if the people gave the mandate to our party in the upcoming general elections, the PPP government will also create ample employment opportunities in the country, just like it was done during the governments of Shaheed Mohtarma Benazir Bhutto,” he said.

Bilawal said that Shaheed Benazir Bhutto was truly a history-making personality and a movement, adding that if the plant of democracy is growing in the country today, it is the fruit of the long and tireless struggle and sacrifices of Benazir Bhutto.

He pointed out that the Shaheed Mohtarma played a key role in strengthening democratic institutions in the country and the promotion of equality in society.

He said that the best way to pay homage to her is to follow her vision and philosophy and associate oneself with the struggle to complete her incomplete mission.

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“The time has come for every one of us to put forward the ‘Benazir Agenda’ for the progress and development, prosperity, stability and progress of the country,” he added.

Former president Asif Ali Zardari said that the PPP should be steadfast on the philosophy of Shaheed Mohtarma Benazir Bhutto must fulfil her dreams.

He said that the aim of Shaheed Benazir Bhutto’s politics was to end the darkness of ignorance from the country. She struggled throughout her life to liberate the people from social and economic exploitation, he added.

Former president Zardari said that the “PPP is struggling to make this country envisioned by Benazir Bhutto where social and economic justice is available to the people and a society free from all kinds of extremism and terror.”

He said that the PPP will definitely liberate the people from poverty, bankruptcy and economic misery.

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National Assembly Speaker Raja Pervez Ashraf acknowledged the sacrifices made by Shaheed Benazir Bhutto and stated that “her relentless efforts for the protection of the rights of farmers, labourers, and the downtrodden sections of society will always be remembered.”

He eulogized her mission to establish a democratic system and a society based on equality, which he believed echoed the vision of her father, the late Shaheed Zulfikar Ali Bhutto.

The speaker praised her commitment to promoting the strength of institutions, constitutional supremacy, and harmony between the federation and the provinces. He applauded her advocacy for tolerance and dialogue in politics, rather than imposing ideas, and her relentless struggle against terrorism, aiming to make Pakistan a cradle of peace.

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