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Jun 14, 2024 | 
dawn.com | Jamil Ahmad |Zofeen Ebrahim |Al Karim Datoo
HEAVY and rising debt has emerged as one of the toughest hurdles for developing nations to address climate change, alleviate poverty, and seek economic development. The total external debt of 118 low- and middle-income countries doubled to $3.1 trillion in 2022 from $1.5tr in 2010, rising to about 15 per cent of their GDP. The amount of finance required to meet their debt payments has also increased.
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Jun 14, 2024 | 
dawn.com | Kalbe Ali |Al Karim Datoo
ISLAMABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed apprehensions over “excessive powers” granted to the tax body, claiming that the government’s decision would stifle business activities. FPCCI President Atif Ikram Sheikh said on Friday that instead of further empowering the Federal Board of Revenue (FBR), the government should address issues of public and business community’s lack of faith in the apex tax body.
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Jun 14, 2024 | 
dawn.com | Khaleeq Kiani |Al Karim Datoo
ISLAMABAD: The Federal Board of Revenue (FBR) on Friday informed a parliamentary panel that retailers would face the closure of shops for failing to issue computerised invoices to ensure strict compliance and hinted at reconsidering the imposition of general sales tax on books and stationery items.
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Jun 14, 2024 | 
dawn.com | Al Karim Datoo
ISLAMABAD: Short-term inflation, measured by the Sensitive Price Index (SPI), is on the rise for the third week in a row ahead of the upcoming Eidul Azha, official data showed on Friday. The SPI-based inflation increased 23.03 per cent year-on-year in the week ending June 13, mainly due to a price surge in vegetables, electricity and LPG. The SPI also rose 1.30pc week-on-week. The proposed indirect taxes in the budget 2024-25 are expected to drive inflation in the coming weeks.
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Jun 14, 2024 | 
dawn.com | Shahid Iqbal |Al Karim Datoo
KARACHI: The Sindh government on Friday announced a development outlay of Rs959.1 billion, up by 30.5 per cent from the current year’s Rs735bn. In his budget speech, Chief Minister Syed Murad Ali Shah said the Annual Development Programme (ADP) would not include any new schemes as the focus would be on completion of the projects that have been continuing for the last 10 years.
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Jun 14, 2024 | 
dawn.com | Mubarak Zeb Khan |Al Karim Datoo
ISLAMABAD: The country’s Large-Scale Manufacturing (LSM) sector grew for the fifth consecutive month, with a 5.76 per cent increase in April compared to the same month last year, according to data released by the Pakistan Bureau of Statistics on Friday. The quantum index of LSM industries was 106.35 points in April, while it stood at 100.56 in the same month last year. However, the index for April contracted 8.14pc from March — 115.78 points.
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Jun 14, 2024 | 
dawn.com | Iftikhar A. Khan |Al Karim Datoo
ISLAMABAD: Calling for civilian supremacy, the JUI-F’s parliamentary leader in the Senate on Friday called for sending the armed forces “back to barracks”. Taking part in the discussion on the Finance Bill 2024-25 in the Senate, Maulana Attaur Rehman said the civilian government was helpless and all key decisions on foreign policy, internal security and economy were being taken by someone else. “They cannot even transfer a commissioner and deputy commissioner without permission,” he remarked.
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Jun 14, 2024 | 
dawn.com | Jamil Nagri |Al Karim Datoo
GILGIT: Time is running out for two Japanese mountaineers who went missing on the Spantik peak in Shigar Valley as rescue workers attempt to reach them. A team of climbers and high-altitude mountaineers launched a rescue operation from ground on Friday after bad weather thwarted an attempt of aerial rescue. The two climbers, Ryuseki Hiraoka and Atsushi Taguchi, went missing during their attempt to summit the 7,027-metre high peak on Monday.
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Jun 14, 2024 | 
dawn.com | Al Karim Datoo
People watch as crews demolish a building where 17 people were killed during a mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida, in 2018. —AFP MIAMI: Crews started tearing down on Friday a building which was the scene of a US school shooting in 2018 that left 17 people dead. In February that year, Nikolas Cruz, 19, opened fire inside the Parkland, Florida high school from which he had been expelled for disciplinary reasons.
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Jun 14, 2024 | 
dawn.com | Al Karim Datoo
LONDON: Kate, Britain’s Princess of Wales, said on Friday she is making good progress as she undergoes preventative chemotherapy, but is “not out of the woods” ahead of her first public appearance since surgery revealed the presence of cancer. In a personal written message, Kate said she had been “blown away” by the thousands of kind messages from across the globe which followed her cancer announcement in March.
