Asia

Islamabad, Pakistan: Hike in gas price in Pakistan by Prime Minister Imran Khan was objected by Pakistan Muslim League-Nawaz (PML-N) President Shahbaz Sharif on Saturday. He also mentioned that Pakistan’s inflation is highest in the world. Demanding to withdraw a proposed hike in gas prices, the Opposition leader said that rising gas prices are "unjustified" and "another foolish act" by the government, Geo News reported. Terming the last financial budget as "the International Monetary Fund (IMF) budget", Sharif wrote on Twitter: "The government is only fulfiling the conditions set by the IMF." He said that the government lied to the nation about a "tax-free budget"."People cannot bear more inflation; this oppression after oppression must be stopped," Geo News quoted Sharif as sayi...

PARIS: Paris club has extended the debt deadline of Pakistan because of the worsening COVID-19conditios in the country. The country has until December to make the payment, the club said in a statement, without releasing a figure. Islamabad “is committed to devote the resources freed by this initiative to increase spending in order to mitigate the health, economic and social impact of the Covid-19 crisis,” the statement said. The country’s debt amounts to some 90 per cent of its gross domestic product, according to the International Monetary Fund.

Karachi, Pakistan: “The ordinance contains budgetary measures and these cannot be taken without due consultation with stakeholders,” he added, reported Dawn. Maggo further lamented sweeping powers to the Federal Board of Revenue (FBR) by enabling it to disconnect mobile phone, electricity and gas connections of the non-filers of income tax returns. The new ordinance also empowers the National Accountability Bureau to open income tax cases as old as 20 years by accessing tax records through the National Database and Registration Authority. “It was FPCCI’s proposal to disconnect the connections of commercial and industrial non-filers. However, this ordinance does not take due and fair procedure of separation of executive and adjudication into account. The ordinance vaguely m...

Dushanbe, Tajikistan: Terrorism was strongly condemned by the SCO members and they discussed about the prevention of its financing.SCO member states adopted Dushanbe Declaration following the 21st Summit in Tajikistan. “Member States strongly condemn terrorism in all its forms and manifestations. Member States reaffirm the need to step up joint efforts to prevent terrorism and its financing, including by implementing existing global standards on combating money-laundering and the financing of terrorism and by suppressing the spread of terrorist, separatist and extremist ideologies that feed it,” according to the Dushanbe Declaration adopted at SCO summit. “They will step up their efforts to prevent the preparation and financing of acts of terrorism in their territories and deny terr...

London, UK:  European Union has signed a digital partnership with Japan, South Korea and Singapore amid the Chinese tension in these countriesThis push by the EU is aimed at building influence in Asia after the messy US and NATO military exit from Afghanistan, Nikkei Asia newspaper reported. According to a draft strategy document seen by the publication, the bloc will seek to reinforce semiconductor value chains with Asian partners as the pandemic amplifies fears about industrial supply chain vulnerabilities. Earlier this year, the EU released its own Indo-Pacific strategy policy paper, which the experts regarded as an unprecedented declaration that promises to put the EU at loggerheads with China. “Democratic principles and human rights are also under threat from authoritar...

Afghanistan: Afghanistan reserves need to be released otherwise Afghanistan may slip into economic crisis said the Afghanistan Chamber of Commerce and Investment (ACCI), Afghanistan Chamber of Mines and Industry (ACMI) The private sector representatives called the freeze of Afghanistan’s reserve by the United States in contrary to the humanitarian laws and called on the United Nations to defend the rights of the people of Afghanistan in addition to the work it is doing for attracting humanitarian support for Afghanistan. According to the private sector officials, in the last one month due to disruption in banking systems between Afghanistan and international banks, all the financial transactions has stopped and if this continues the private sector will face severe recession. The...

336 kg drug seized by Sri Lankan Navy; 7 Pakistani nationals involved The Sri Lankan Navy has apprehended a trawler, allegedly involved in drug trafficking, in the high seas off Male, and brought it back to Colombo. Seven persons, all Pakistan nationals, were taken in custody, and 336 kg heroin was seized in the operation earlier this week. The trawler, reportedly acting as a multi-day fishing trawler, was transporting drug consignments to other boats, and investigations are still in progress. The stock of heroin weighing 336 kg with a street value of around Rs 3.1 billion was detected by the Sri Lanka Navy was found in this operation. A seven-member crew were found to be Pakistan nationals with a multi-day fishing vessel used to transport the heroin from a foreign port. ...

The US-India trade is going to cross the pre covid-19 trade. The Trade has increased by 40% in June this year. "2021 #US-India Trade data in goods through June show increases of over 40 per cent in US-India and India-US trade from 2020, on-track to surpass even pre-pandemic highs," tweeted the US Embassy in India. The embassy upbeat with the growth set another landmark of USD 500 billion trade. "This strong and growing trade relationship can anchor regional prosperity and global stability. Let's shoot for $500B!, tweeted the embassy.

The congress expressed its views to Joe Biden saying that, America should not forget that Afghanistan is still under the constitution and Taliban seizure is still illegal for the land. The statement said that Saleh and Massoud chose to stay and fight for the freedom of the Afghan people and oppose extremism. They also called on the president to designate the Afghan Taliban as a Foreign Terrorist Organization, and urge him to publicly support Congressional efforts to stand with “our friends in the Panjshir Valley who will serve as a bulwark against regional terror.” "We call on President Biden to designate the Afghan Taliban as a Foreign Terrorist Organization, and we urge him to publicly support Congressional efforts to stand with our friends in the Panjshir Valley who ...

ISLAMABAD: Farhan Junejo who is involved in multi million rupee scandle along with the Trade Development Authority of Pakistan (TDAP) has been arrested by Italian police. Junejo had been declared a proclaimed offender by a Karachi court, and a red warrant had been issued against him by the Federal Investigation Agency (FIA) for Interpol to apprehend him. The FIA Karachi chapterand headquarters have got the information about Junejo’s arrest in Italy and are working to get him repatriated to Pakistan through Interpol. Pakistan and Italy have no extradition treaty. A senior FIA official told The News that the agency was dispatching the requisite documents related to the charges against Junejo to Italy, seeking his return. Nearly two dozen people are accused of embezzling billions of...