- The government of Pakistan has issued over Rs. 2.5 trillion in new debt during the first 3 months of the current fiscal year to finance its growing fiscal deficit.
- This new borrowing of Rs. 2.5 trillion represents nearly 57% of the total Rs. 4.4 trillion debt the government had auctioned last fiscal year.
- Pakistan is facing a severe economic crisis due to high debt levels, shrinking foreign exchange reserves, and a large unsustainable fiscal deficit. Mounting debt and declining reserves pose major challenges without immediate fiscal reforms.
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28 September down opinions
Original Title
28 September Dawn opinion with Meaning & Translation 03468134627 .pdf 2
- The government of Pakistan has issued over Rs. 2.5 trillion in new debt during the first 3 months of the current fiscal year to finance its growing fiscal deficit.
- This new borrowing of Rs. 2.5 trillion represents nearly 57% of the total Rs. 4.4 trillion debt the government had auctioned last fiscal year.
- Pakistan is facing a severe economic crisis due to high debt levels, shrinking foreign exchange reserves, and a large unsustainable fiscal deficit. Mounting debt and declining reserves pose major challenges without immediate fiscal reforms.
- The government of Pakistan has issued over Rs. 2.5 trillion in new debt during the first 3 months of the current fiscal year to finance its growing fiscal deficit.
- This new borrowing of Rs. 2.5 trillion represents nearly 57% of the total Rs. 4.4 trillion debt the government had auctioned last fiscal year.
- Pakistan is facing a severe economic crisis due to high debt levels, shrinking foreign exchange reserves, and a large unsustainable fiscal deficit. Mounting debt and declining reserves pose major challenges without immediate fiscal reforms.
Thursday,28 September 2023 Dawn, Daily Times & Tribune Newspaper, Daily MCQs, National Magazine, CSS
Books, Notes, Past Paper WhatsApp 03468134627
28 September Dawn Editorial with Meaning & Translation Accruing more debt م د قرض جمع کرنا THE government has issued new debt of over Rs2.5tr during the first three months of the current ا ک بروک ـ ـج فرم ن اندازوں مطابق حکومت کرا financial year to finance its burgeoning و بڑھ اپ بڑھ و مال ا خسار — اس آمد اور fiscal deficit — the gap between its revenues and ل رواں ما سال اخراجات درم ان فرق — کو پورا کر expenditures — اخراجاتaccording to new estimates زائد ا ن ا ٹ ل رو2.5 پہ ت مہینوں دوران of a Karachi-based brokerage firm. قرض جاری ک ا ۔ ٹ ل رو4.4 دوران ن ﻼم ک گ23 ن ا قرضہ ما سال The new borrowing is nearly 57pc of the total debt ف صد ۔ اضا قرضوں ا اجراء57 ل قرض ا تق ا of Rs4.4tr it had auctioned ن ﻼduring FY23. The اخراجات م،حکومت سکڑ ٹ کس اور د گر محصوﻻت issuance of additional debt underlines the اپ جٹ اضافہ اور ب و ما اعانت خشک و government’s shrinking tax and other revenues, ل گھ لو ذرائع پر بڑھ و اخراجات کو پورا کر increased spending and growing reliance on انحصار شاند کرتا ۔ domestic sources to fund its budgeted expenditures مل ڈالر سات ماه م316 ب و فنا سنگ ا ست م as external financing dries up. اسﻼم آ اد جوﻻ،ت ن سطح پر آ گ ۔ مجمو طور پر ، ل ڈالر ب و فنا سنگ حاصل3.2 اور ا ست م External financing shrank to its seven-month low of ل ڈالر سعودی ڈ از س اور اے ا ف ل2 جس م $316m in August. Cumulatively, Islamabad secured مل ڈالر ا ضمان قرض ب شامل ۔508 external financing of $3.2bn in July and August, اس ظا ر وتا کہ یہ توقعات کہ کث الجہ اور دو which also includes Saudi deposits of $2bn and a طرفہ ا ت دار ا ستان دحال مع شت مدد ل guaranteed loan of $508m for the PAF. آ ا م ا ف جانب اس ینڈ، اپ خزا کو بہ دیں بہت م الغہ آم تھ ۔،عد ا ار نجمنٹ منظوری This shows that expectations that multilateral and ل ڈالر حاصل کر6 حکومت کو تجار قرضوں ذر bilateral اpartners would allow their coffers to م ب مش ﻼت ا سامنا اور اس م ڈالر انڈ مسائل flow to help Pakistan’s distressed پ شانeconomy, ہ ۔ اس اخراجات اور اس غ مل قرضوں اور د گر following the IMF’s nod to the Stand-by 17.6$ ل ادائ گیوں کو پورا کرbn جٹ کرده ب و Arrangement, were very exaggerated م الغہ آم. ام انات بہت م ہ ۔ مال ا ہدف کو حاصل کر ل ڈالر10.8 حکومت ب و فنا سنگ م،چھ سال The government is also facing difficulties in securing چ حاصل کر م ام اب ر اور ا ناد نده و $6bn through commercial loans and has dollar bond ل درآمدات اور یہاں تک کہ جائز ڈالر اخراج پر ب issues. Chances of achieving the budgeted external سخت ابند اں عائد کرنا پ ں۔ financing target of $17.6bn for its expenditures غ ائ دار مال ا خساره چﻼ، ف صد ا ا ک بڑا7 مرکز تق ا اخراجاتand of meeting its foreign debt and other را ۔ payments are slim.
Last year, the government was able to obtain
$10.8bn in external financing and had to impose strict restrictions on imports and even on legitimate جائزdollar outflows to avoid defaulting.
The centre has been running a large, unsustainable
غ ائ دارfiscal deficit of around 7pc of
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(WhatsApp 0346-8134627 or Visit our website www.virtualzeedas.com) Thursday,28 September 2023 Dawn, Daily Times & Tribune Newspaper, Daily MCQs, National Magazine, CSS Books, Notes, Past Paper WhatsApp 03468134627 GDP for the last many years, which is the main reason for the accumulation جمعof its huge جو کہ اس بھاری مل اور، ڈی گزشتہ ک سالوں domestic and foreign public debt, external sector نزا ت ب و شع، اری قرضوں جمع و غ مل fragility and inflation. ب ادی وجہ ۔ اور مہن ا
رفتار م اضافہ وا حالیہ برسوں م قرض جمع کر
، ۔ یہ خاص طور پر گھ لو عوا قرضوں ل درست The pace of debt accumulation has picked up in 39 بڑھ کر تق ا ٹ ل رو30 جو ا ک سال پہ recent years. This is especially true for domestic وجہ ۔ ی کیونکہ ب و رقوم م، و گ ا ٹ ل public debt, which has grown to around Rs39tr from اہداف عد د گر آ وا حکومتوں معا تر over Rs30tr a year ago, because of reduced external ب اد پر گڑ و مال ا عدم توازن کو جواز فرا م کر inflows. Successive governments have tried to justify ۔ کوشش the worsening fiscal imbalance عدم توازنon the basis of economic development targets. ل استعمال ک ف حق قت پر پرده ڈال ل کن یہ بہا دت ن اور جا ہ ۔ حق قت یہ کہ م اپ تار ـ ـخ حران دوچار ہ کیونکہ عوام ق مت ط ل ت ن معا پر طاقتور مفادات شاہانہ طرز زند اور مع شت بہ ی۔ But these excuses are used only to mask the reality. The fact is that we are in the midst of the worst and ورلڈ ب نک کن ی چ ف چند روز ق ل اس ات طرف longest economic crisis in our history because of the ارو اری اور س ا،ف ج اشاره ک ا تھا جب انہوں مل lavish lifestyles طرز زندof powerful interests at the ا افیہ پر ان ل اں اٹھا تھ جس ل آج م جس معا expense of the people and the well-being of the ل جدوجہد کر ر ہ ۔ حران کو حل کر economy. ا ستان کو ا ک وجودی حران ا سامنا جس اس خاص طور پر م اور، شہ وں ا ت کو شد د متاثر ک ا درم ا آمد وا ط قات اور چھو ارو ار۔ بڑھتا وا قرض اور م و زرم ادلہ ذخائر مار دو The World Bank’s country chief had alluded to this a غ جو کہ فوری مال ا اصﻼحات، بڑ چ لنجز ہ few days back when he pointed fingers at the ا اعث بن سک ہ ۔ م مل معا ت ا country’s military, business and political elites for the economic mess we are struggling جدوجہدto resolve today.
Pakistan is facing an existential crisis that has
severely impacted the majority of its citizens, especially the low- and middle-income segments ط قاتand small businesses.
Mounting debt and dwindling foreign exchange
reserves are two of our biggest challenges, which, without immediate fiscal reform, could lead to total economic collapse.
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(WhatsApp 0346-8134627 or Visit our website www.virtualzeedas.com) Thursday,28 September 2023 Dawn, Daily Times & Tribune Newspaper, Daily MCQs, National Magazine, CSS Books, Notes, Past Paper WhatsApp 03468134627 Israeli normalisation نارمﻼئ شن ا ائ سعودی عرب اور ا ائ ل،گزشتہ چند فتوں دوران OVER the past few weeks, there have been many پ ش گو کر وا درم ان تعلقات آ وا معمول پر آ reports prophesising پ شن گوthe impending ر ور س سام آ ہ ۔ ا ر یہ پ ش رفت و جا بہت normalisation نارمﻼئ شنof ties between Saudi : و تو یہ عال جغراف ا س است م ا ک ا م ت د Arabia and Israel. If this development comes to ر است اسﻼم مقدس ت ن مقامات ا محافظ ا ک ا pass, it would be a monumental shift in global ساتھ تعلقات قائم کر ر ا و ا ج پوری مسلم دن ا م ا ک geopolitics جغراف ا س است: the keeper of Islam’s قا ض طاقت طور پر د کھا جاتا جس فلسطی عوام holiest sites would be establishing قائم کرناties with قی طور پر ا کو ک دہائیوں پ شان کر رکھا ۔ ام a state widely viewed across the Muslim world as ج سا کہ صدر جو، ل اوور ٹائم ام کر ر ہ انجام دی an occupying power that has smothered the ائ ڈن امن معاہدے کو ب اﻻقوا س ی سم شپ م ٹرا Palestinian فلسطیpeople for decades. The وه ا سال ام کہ م، طور پر استعمال کرنا سند ک ں Americans are certainly working overtime to make انتخا وقت آ پر خوشامد کر سک ہ ۔ جب کہ مب نہ طور it happen, as President Joe Biden would love to use پر خفیہ سعودی ا ائ ل تعلقات برسوں پروان چڑھ ر a peace deal as a trophy in international ظا ر ایران ش ل م ا ک مش کہ دشمن وجہ- تھ statesmanship س است دانhe can flaunt come و ہ ۔ کوشش بہت ز اده کھ آج معمول پر ﻻ- election time in the US next year. While covert ن ٹ ورک کو سعودی فرمانروا ﷴ بن سلمان ا ک ام Saudi-Israeli relations were reportedly being جب، بتا ا کہ معمول پر آ واﻻ عمل " ر روز" آ بڑھ ر ا cultivated for years — apparently due to a common کہ ا ائ وز ر اعظم بنجمن نی ا و اقوام متحده enemy in the shape of Iran — today normalisation ج ل اسم م کہا کہ تل اب ب سعودیوں ساتھ "امن efforts are very much in the open. Mohammed bin ا ائ ل وز ر س احت اقوام، م د برآں. چو پر" ۔ Salman, the de facto Saudi ruler, told a US network کت ل من ل روز سعودی متحده ا ک تق ب م that normalisation was moving forward “every یہ پہﻼ موقع جب ک ا ائ وز ر- عرب پہن day”, while Israeli Prime Minister Benjamin ا ک،و۔ ا دوران اری وفد ق ادت ممل ت م Netanyahu said at the UN General Assembly that ل تھا سعودی وفد رام ﷲ م فلسطی یوں کو ق دﻻ Tel Aviv was “at the cusp” of peace with the Saudis. کہ انہ ترک نہ ک ا گ ا ۔ Moreover, Israel’s tourism minister landed in Saudi Arabia on Tuesday to attend a UN event — the first ا ائ ل امن حامیوں ا کہنا کہ ا ک معاہدے-سعودی time an Israeli minister has led an official ن دور ا آغاز و ا جہاں عرب اور ن ی م بھا چار delegation to the kingdom. At the same time, a اور اس اقدام ناقدین، یہودی آ س م مل جل کر ر Saudi delegation was in Ramallah to assure the محض دتم ی ہ جو وقت ساتھ منجمد و گ ہ ۔ Palestinians they had not been abandoned چھوڑ د ا. گزشتہ ت دہائیوں م عرب ا ائ ل تعلقات پر ا ک،تا م 1993 ۔ ی نظر ا ک مختلف تص ر پ ش کر آغاز عﻼمت سمجھا اوسلو معاہدوں کو تنازعہ خات جس فلسطی ر است ل راه موار و،جاتا تھا Proponents of Saudi-Israeli peace say a deal will قب، اوسلو ا ڈھانچہ ٹوٹ پھوٹ ا ش ار،ت ۔ ل کن آج result in a new age of brotherhood where Arab and اور فلسطی عوام اب ب،ساتھ مضبوط و Jews will live in amity, and that critics of the move و ہ ۔ م پھ ا ائ لیوں are merely malcontents ناقص موادfrozen in time. However, a cursory glance at Arab-Israeli relations over the past three decades paints a different picture. The Oslo Accords of 1993 were supposed to spell the beginning of the end of the conflict, paving the way for Palestinian statehood. But today, the Oslo framework lies in tatters, with the occupation strengthened مضبوط, and the Palestinian people still chafing under the Israeli stranglehold ﻼ د انا.
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(WhatsApp 0346-8134627 or Visit our website www.virtualzeedas.com) Thursday,28 September 2023 Dawn, Daily Times & Tribune Newspaper, Daily MCQs, National Magazine, CSS Books, Notes, Past Paper WhatsApp 03468134627 ا ائ ل معاہده ا ک قا ل عمل فلسطی ر است ا-ک ا سعودی م د کو،قی حق جس م وا،وعده کر ا یروشلم اس ا دارالحکومت وں اور م س اں نہ Will a Saudi-Israeli deal promise a viable و ا۔ م نہ و ا؟ یہ ک سفار معجز Palestinian state, with a guaranteed ارن شدهright of return, no more settlements and East Jerusalem ا ر سعودی ا کھینچ سک ہ تو ان ل سﻼم۔ ل کن as its capital? This would be nothing less than a کہ- تار ـ ـخ ا ک تار ک حق قت طرف اشاره کر diplomatic miracle. کیونکہ ان،فلسطی یوں ا ڈراؤنا خواب غال ا جاری ر ا عرب 'بھا ' اپ اذ ت دی والوں صلح کر ر ہ ۔ If the Saudis can pull it off, hats off to them. But history points to a darker reality — that the Palestinian nightmare will likely continue, as their Arab ‘brothers’ make peace with their tormentors اذ ت دی وا.
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(WhatsApp 0346-8134627 or Visit our website www.virtualzeedas.com) Thursday,28 September 2023 Dawn, Daily Times & Tribune Newspaper, Daily MCQs, National Magazine, CSS Books, Notes, Past Paper WhatsApp 03468134627 Kandhkot tragedy سانحہ کندھ کوٹ سندھ تحص ل کندھ کوٹ م ل پ ش آ واﻻ المنا THE tragic incident that unfolded yesterday in مار، جس م م از م نو افراد موت واقع و،واقعہ Sindh’s Kandhkot tehsil, leading to the deaths of at ۔ گردونواح م چھ خطرات سنگ اد دہا ا ام کر least nine people, serves as a grim reminder of the و واﻻ مب نہ طور پر 'را ٹ ﻻنچر' آرڈین س وجہ hazards lurking in our surroundings ارد گرد. The دھما ہ ک سواﻻت کو جنم دیتا جو فوری جوا ات ا explosion, reportedly caused by ‘rocket launcher’ عﻼ م اتنا مہل وار ڈ: مطالبہ کر ہ ۔ ا ک ل ordnance, raises several questions that demand کہ ا ستان ختم وا؟ یہ ات ا ش شنا ک immediate فوریanswers. For one: how did such a ب معمول مطابق نہ پھٹ وا تھ اروں، ق ائ اضﻼع م deadly warhead end up in the area? It is - تنازعات تار ک وراثت جو ما- ا ش ار و ہ concerning ار م enough that in Pakistan’s طرف ل کن سندھ م اس ا رونما ونا ا ک بڑ مسئ tribal districts, children routinely fall victim to ۔ یہ واقعہ اشاره کرتا جو محض جنگ اق ات آ unexploded ordnances — a dark inheritanceوراثت مسلح گرو وں خﻼف جاری پول س اور ر نجرز آپ شن of past conflicts — but for this to occur in Sindh ورت پر زور دیتا جو اﻻ سندھ کو ط ل کو ت کر points to a larger issue that goes beyond the mere دوچار کر ر ہ ۔ اس ط ح دھما ا خ مواد عر remnants of war. The incident underscores the ل دس اب فائر اور م اضا موجود مجرمانہ عنا need to ramp up the ongoing police and Rangers ۔ اس ل یہ وری کہ مار قانون نافذ شاند کر operation against armed gangs that have long ل ام ک ں کر وا ادار نہ ف ان گرو وں کو کڑ plagued upper Sindh. The presence of such قی بنائ کہ اس ط ح ا اسلحہ غلط ل ہ اس ات کو ب explosives suggests an escalation اضافہin the ہاتھوں م نہ جا ۔ firepower available to criminal elements. This is why it is imperative that our law-enforcement قوم کو ب سوچنا چا ۔ ا رچہ د شت گردی ا مقا لہ کر agencies not only work towards apprehendingکڑنا گ ہ اور فل ش پوائ ٹ وا عﻼقوں ل ا کوشش these gangs but also ensure that such armament ل کن غ پھٹ وا تھ اروں، م س کیور رک گ doesn’t end up in the wrong hands. ﻻحق پوش ده خطرات کو نظر انداز نہ ک ا جانا چا ۔ خاص طور پر چوں حفاظت سب ا م،مار شہ وں خطرات شاند کر اور ان اور اس ل ا، ل م انزم قائم ک ا جانا چا ۔ اب نمٹ محفوظ ط The nation must also reflect. While much effort وقت آ ا کہ ص ا اور وفا حکومت س کیور has gone into combating terrorism and security تھ اروں کو تعاون ک ں۔ تنازعات معامﻼت پر م د ق has been placed in flashpoint areas, latent threats اب ماری برادر وں کو ت اه نہ کرنا چا ۔ م کندھ کوٹ posed by unexploded غ پھٹاordnances must not متاث ن اور مل بھر م ﻻتعداد د گر متاث ن م ون منت be overlooked. The safety of our citizens, تا ہ اس ات کو قی بنا ا جا س کہ اس ط ح قا ل، ہ especially children, is paramount, and so, گ ز سانحات م م د جان ضائع نہ وں۔ اب یہ ذمہ داری mechanisms م انزمmust be instituted to identify مار ح ام پر کہ وه نہ ف آرڈین س ماخذ ا تع and safely dispose of such hazards. It is high time ک ں ل ہ اس خ داری م ملوث مجرموں کو انصاف that the provincial ص اand federal governments کٹہر م ﻻ ا جا ۔ مار شہری جواب مستحق ہ ۔ collaborated more closely on security matters. No زم م ۔ ان اپ، حفاظت،اور سب بڑھ کر longer must armament تھ ارfrom conflicts wreak havoc on our communities. We owe it to the victims in Kandhkot and countless others across the country, to ensure that no more lives are lost to such avoidable tragedies سانحات. The onus is now on our authorities to not only determine the source of the ordnance but to bring the culprits involved in its procurement to justice. Our citizens deserve answers. And above all, safety, in their own land.
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Published in Dawn, September 28th, 2023
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