Is Pakistan giving up its economic sovereignty?

There is no precedent for the rapid change of color in Pakistani politics. A few days ago, all the major opposition parties in Pakistan were preparing to send the government home on the platform of the PDM.

Bilawal Bhutto Zardari and Maryam Nawaz, two unnatural allies, were calling each other siblings. But then time ran out. In the Senate election, Yousuf Raza Gilani himself was elected along with the PPP. However, a line was drawn between the two political parties on the PPP’s solo flight on the issue of opposition in the Senate. Siblings became today’s rivals. Some analysts believe that Asif Ali Zardari had set the whole game, including removing the Punjab government, but Nawaz Sharif refused to side.

There are reports that telephone calls between the leaders of the three major parties and the central leaders continued intermittently in the wake of differences in the Pakistan Democratic Movement, contradictory to those contacts in London, Karachi and Islamabad. There have been reports which, though not officially confirmed, have led PDM chief Maulana Fazlur Rehman to convene a meeting of the Central Council of the Jamiat Ulema-e-Islam instead of the PDM.
It is attended by members of the Working Committee and the Shura and such meetings are convened to consider the situation for important decisions. Sources said that consultations are being held regarding the date of the meeting to be convened in Islamabad. Some members said that the meeting should be convened immediately in view of the situation while Maulana Fazlur Rehman himself is in favor of A meeting of the JUI should be convened after the decisions taken at the meeting of the Central Executive Committee of the Pakistan Peoples Party on April 4.

Regarding the telephone calls, a responsible person of the party in the PDM in Islamabad expressed ignorance about the impression that harsh words were exchanged between the parties during this time, however, he said that ” The situation is getting serious, ”he said, adding that the PML-N was now regretting why it had relied on assurances from PPP leaders. It is learned that Maulana Fazlur Rehman is unwell due to constant travel, night vigils due to political engagements and mental stress.

His test for the corona virus was negative, but Maulana has suspended his political activities for the time being. These political maneuvers have their place, but the reality on the ground is that the coalition of opposition parties (PDMA) has now disintegrated and failed to achieve its goals. Maulana Fazlur Rehman is trying to unite the two major parties, but given the current political situation, it is difficult for the two political parties to unite.

Opposition leader in the Punjab Assembly Hamza Shahbaz met Shahbaz Sharif in Kot Lakhpat Jail which lasted for two and a half hours. Some people claim that another powerful person was also present in the meeting. The effects of which will begin to be seen later. It is also being said that the days of captivity of Mian Shahbaz Sharif and Khawaja Asif are probably coming to an end. However, PML-N sources said that Hamza Shahbaz had apprised Yousuf Raza Gilani of the unrest in the PML-N over his appointment as Leader of the Opposition in the Upper House.

Hamza Shahbaz told Shahbaz Sharif that PPP did not take him into confidence on the issue of Yousuf Raza Gilani. Shahbaz Sharif stopped Hamza Shahbaz from making any kind of statement against PPP. Talking to Hamza Shahbaz, Shahbaz Sharif said that the decision of the Supreme Court to revive local bodies in Punjab was welcome. He directed to expedite the contacts with the local body representatives.

On the other hand, PPP parliamentary leader Syed Hassan Murtaza told reporters, “We have formally started our efforts for change in the Punjab Assembly and it will intensify in the days to come.”

He said that people will hear good news after Eid-ul-Fitr as more than two dozen lawmakers of the ruling Pakistan Tehreek-e-Insaf (PTI) are in touch with us. With this in mind, the nominee for the office of the provincial chief executive should be announced and the PPP will support it. PML-N Vice President Maryam Nawaz Sharif has already rejected the offer of change of government in Punjab.

He claimed that the PPP had offered to order change in the province and to appoint Punjab Assembly Speaker Chaudhry Pervez Elahi as Chief Minister. The PML-N fears that Chaudhry Pervaiz Elahi will work against him more than Usman Bazdar as Chief Minister.

Political analysts believe the government has been confused for the past three years. There is no stability in the policies and that is why the wheel of the economy does not turn. Now the whole burden of the economy has been placed on the feeble shoulders of Hammad Azhar. The question arises as to whether he will Will be solved.

Now the government will be able to negotiate with the IMF only with the approval of its representatives ie the governor and deputy governors of the SBP and the government of Pakistan will not be able to print any note without their consent. Will pay The federal government has issued the Income Tax Amendment Ordinance instead of the Income Tax Amendment Bill following the IMF’s terms, under which the tax exemption of Rs 140-150 billion has been abolished. This Ordinance shall come into force immediately. The ordinance provides tax credit facility to 62 institutions.

Tax exemption has been abolished for all sports organizations, including the PCB, and the film industry. Failure to display the tax number on the shop will result in a fine of Rs 5,000. Failure to submit income tax returns will result in a fine of Rs 5,000. New oil refinery will be exempted only till December 31, 2021. Income tax has been imposed on the boards publishing textbooks. Income tax exemptions on profits of many investment companies have been abolished.

Under the Income Tax Ordinance, tax exemptions related to FATA and PATA are being abolished on June 30, 2023. It is proposed to give 25% tax credit on investment in power generation from renewable energy sources so as to increase power generation in the private sector. It is proposed to give turnover tax exemption on the sale of domestically made mobile phones in the country. However, this facility has been made conditional on the mobile phone manufacturers to be registered in the income tax and sales tax system.

On the other hand, the President also signed an ordinance amending the NEPRA Act. Under the ordinance, a total burden of over Rs.700 billion will be imposed on power consumers at various stages.

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