Latest news with #AsadQaiser
Business Recorder
8 hours ago
- Business
- Business Recorder
PTI says budget will enrich elite at the cost of masses in Pakistan
ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) on Friday launched a scathing attack on the recently passed Federal Budget for 2025-26, denouncing it as a 'banker's blueprint' crafted to enrich the elite at the expense of the masses. Speaking at a presser, the opposition leader in National Assembly Omar Ayub, flanked by Asad Qaiser, Gohar Ali Khan, and other senior party leaders, condemned the budget as a 'giveaway written by a banker, for his banker buddies'. 'This is not a people's budget; it's a banker's business plan,' Ayub said. 'The hybrid regime plans to borrow another Rs6,300 billion from local banks, allowing four or five bank owners to graduate from billionaires to trillionaires. Meanwhile, the nation sinks deeper into debt.' Ayub accused the government of both fiscal cruelty and political repression, warning that the prices of essential commodities such as flour, sugar, and lentils would soar under the new fiscal measures. 'They couldn't even face the opposition in Parliament. Both the finance minister and the prime minister evaded accountability.' Moreover, Ayub claimed that former MNA Ijaz Chaudhry was abducted in the dead of night, while former Prime Minister Imran Khan and his wife Bushra Bibi remain in jail as hostages of political vendetta. He said several senior PTI leaders including Shah Mehmood Qureshi, Omar Cheema, Hassaan Niazi, and Yasmin Rashid and others were imprisoned without bail. However, Asad Qaiser accused the government of reducing Parliament to a rubber stamp. MNA Sanaullah Mastikhel criticising the powerful energy lobbies, alleged that Independent Power Producers (IPPs) were 'untouchable profiteers' who have plundered the nation for decades under successive governments. 'These IPPs have become a cartel, bleeding the country dry through inflated capacity payments and ironclad contracts. They get paid whether they produce electricity or not while the average Pakistani is left in the dark, both literally and financially.' Masti accused the government of shielding these corporate giants while the public suffers from rolling blackouts and sky-high electricity bills. 'Every time the people tighten their belts, these energy barons loosen theirs. And now, with this budget, the same crooks are getting even more incentives. It is daylight robbery, institutionalised.' He demanded an open audit of all IPP contracts and called for a complete overhaul of the power sector. Copyright Business Recorder, 2025
Business Recorder
13 hours ago
- Business
- Business Recorder
PTI says budget will enrich elite at the cost of masses
ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) on Friday launched a scathing attack on the recently passed Federal Budget for 2025-26, denouncing it as a 'banker's blueprint' crafted to enrich the elite at the expense of the masses. Speaking at a presser, the opposition leader in National Assembly Omar Ayub, flanked by Asad Qaiser, Gohar Ali Khan, and other senior party leaders, condemned the budget as a 'giveaway written by a banker, for his banker buddies'. 'This is not a people's budget; it's a banker's business plan,' Ayub said. 'The hybrid regime plans to borrow another Rs6,300 billion from local banks, allowing four or five bank owners to graduate from billionaires to trillionaires. Meanwhile, the nation sinks deeper into debt.' Ayub accused the government of both fiscal cruelty and political repression, warning that the prices of essential commodities such as flour, sugar, and lentils would soar under the new fiscal measures. 'They couldn't even face the opposition in Parliament. Both the finance minister and the prime minister evaded accountability.' Moreover, Ayub claimed that former MNA Ijaz Chaudhry was abducted in the dead of night, while former Prime Minister Imran Khan and his wife Bushra Bibi remain in jail as hostages of political vendetta. He said several senior PTI leaders including Shah Mehmood Qureshi, Omar Cheema, Hassaan Niazi, and Yasmin Rashid and others were imprisoned without bail. However, Asad Qaiser accused the government of reducing Parliament to a rubber stamp. MNA Sanaullah Mastikhel criticising the powerful energy lobbies, alleged that Independent Power Producers (IPPs) were 'untouchable profiteers' who have plundered the nation for decades under successive governments. 'These IPPs have become a cartel, bleeding the country dry through inflated capacity payments and ironclad contracts. They get paid whether they produce electricity or not while the average Pakistani is left in the dark, both literally and financially.' Masti accused the government of shielding these corporate giants while the public suffers from rolling blackouts and sky-high electricity bills. 'Every time the people tighten their belts, these energy barons loosen theirs. And now, with this budget, the same crooks are getting even more incentives. It is daylight robbery, institutionalised.' He demanded an open audit of all IPP contracts and called for a complete overhaul of the power sector. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Politics
- Business Recorder
Asad Qaiser acquitted in PTI's ‘Azadi March' case
ISLAMABAD: A local court on Tuesday acquitted Pakistan Tehreek-e-Insaf (PTI) senior leader and former National Assembly speaker Asad Qaiser from a case registered against him in connection with the party's Azadi March. Judicial Magistrate Azhar Nadeem, while announcing his reserved judgment, acquitted Qaiser from a case registered at the Industrial Area Police Station. Qaiser's counsel, Aysha Khalid, appeared before the court. During the previous hearing, the defence counsel, while arguing before the court, said that Qaiser has no prior criminal record, was not present at the protest site, and no incriminating material was recovered from him. The lawyer further contended that the cases are politically motivated. He requested the court to acquit his client in both cases. The court adjourned hearing of a case registered at Margalla police station and acquitted the PTI leader from a case registered at Industrial Area police station. Meanwhile, an Anti-Terrorism Court (ATC) issued arrest warrants for PTI workers who failed to appear before in cases registered against them in connection with the PTI November 26 protest. Copyright Business Recorder, 2025
Express Tribune
5 days ago
- Politics
- Express Tribune
PTI's Asad Qaiser acquitted
The District and Sessions Court of Islamabad on Monday acquitted Pakistan Tehreek-e-Insaf (PTI) leader and former National Assembly speaker Asad Qaiser in a case registered at the I-9 police station over the party's Azadi March three years ago. Judicial Magistrate Azhar Nadeem heard the two cases related to the PTI's march in May 2022 against the then government led by Shehbaz Sharif. During the hearing Qaiser appeared in court along with his lawyer Ayesha Khalid. The court acquitted Qaiser in the case registered at the I-9 police station and adjourned the hearing of another case registered at the Margala police station till September 20.
Business Recorder
19-06-2025
- Politics
- Business Recorder
PTI warns oil reserves may run out in 10-12 days
ISLAMABAD: The opposition leader in National Assembly Omar Ayub on Wednesday issued a stark warning that the country's oil reserves could run dry in just 10 to 12 days, underscoring what he called the government's catastrophic economic collapse and ruthless political manoeuvring. Speaking at a presser flanked by senior Pakistan Tehreek-e-Insaf (PTI) leaders Asad Qaiser, Senator Ali Zafar, Zartaj Gul, and others, Ayub tore into the government's 'flawed and inflation-fuelling' budget – accusing it of squeezing citizens with billions in fresh taxes while bungling the nation's already precarious finances. He further revealed a jaw-dropping admission by the Federal Board of Revenue (FBR) of a multi-billion-rupee miscalculation – a fiscal blunder that threatens to deepen the country's economic abyss. Ayub also alleged the government continues to conspire against PTI lawmakers despite 'stealing' the February 2024 general elections and riding to power on a rigged mandate. 'The installed regime of Shehbaz Sharif remains obsessed with election rigging,' Ayub declared, pointing to the Punjab Police's blatant manipulation during the recent by-elections in Sialkot to favour a government-backed candidate – an act he branded as 'shameful' and a direct assault on democracy. The opposition leader did not hold back on the government's crackdown on dissent either, accusing it of stifling opposition voices and tightening control over the media – highlighted by the censorship of PTI lawmakers' speeches during the budget debate and blackouts of press conferences on critical national issues, especially the faltering economy. In a dramatic revelation, Ayub disclosed that three of his nomination papers were mysteriously rejected ahead of the last year's polls and alleged that election results were tampered with after 2am – a blatant undermining of democratic norms. Asad Qaiser condemned the current administration as 'born out of Form-47 manipulation,' blasting the government's media blackout of opposition members while ruling party officials bask in prime airtime. Senator Ali Zafar added to the chorus, warning that even the Senate Chairman Syed Yousaf Raza Gilani is being sidelined in what he described as a 'serious institutional meltdown.' Meanwhile, PTI launched a scathing attack on the government's targeting of former Prime Minister Imran Khan's family – particularly his wife, Bushra Bibi – while dismissing the recent visits by foreign delegations as mere 'luxury trips' that delivered no tangible benefits to Pakistan. With jail terms dragging on for key PTI figures, including cancer patient Dr Yasmin Rashid, PTI leaders vowed to fight back hard, pledging to win the ongoing battle for 'real independence' as envisioned by the jailed party founding chairman, Imran Khan. In a separate presser, PTI spokesman Sheikh Waqas Akram, alongside MNAs Usman Mela and Mubeen Jutt, raised concerns over Pakistan's widening primary income deficit and escalating national debt. Citing economic reports, Akram said the deficit, currently estimated at $7.1 billion annually, is being driven by increased profit repatriation by foreign companies and declining returns from Pakistani firms abroad. This growing gap, he warned, is intensifying pressure on the country's external accounts. Mubeen Jutt claimed that Pakistan's total debt has surged to Rs76 trillion, up from Rs44 trillion three years ago when PTI was in power. He said that domestic banks now hold Rs51 trillion of this debt, while foreign banks account for Rs25 trillion. According to Jutt, annual interest payments total Rs7.5 trillion to local banks and Rs800 billion to foreign banks. Despite the central bank's policy rate being slashed from 22 per cent to 11 per cent and maintained at that level, domestic debt remains elevated – raising alarm among economists. Usman Mela criticised the recent budget's tax measures, which reduced levies on banks lending to the government but increased taxes on individual loans. 'The average borrower now faces a tax rate of 25%, up from 10%,' he said, calling the policy regressive. He noted domestic debt has nearly doubled from Rs28 trillion prior to the IMF programme to Rs51 trillion. While a three per cent interest rate cut could save Rs1 trillion annually, projected savings remain limited, with Rs7 trillion in interest payments expected this year. 'There appears to be disproportionate benefit to banks, with ordinary citizens effectively paying much higher rates,' Mela said, also questioning official projections of 9% industrial growth, citing a lack of on-ground expansion. Copyright Business Recorder, 2025
