Budget talks with IMF underway
Ahead of the federal budget for fiscal year 2025-26, Pakistan is holding talks with the International Monetary Fund (IMF) for setting budget targets and potential measures to achieve them.
Discussions will also focus on providing relief to the salaried class and industrial sector, among other key areas.
The government is considering providing relief to the salaried class in income tax, which will be subject to IMF's approval.
Among the proposals under review is a reduction in the income tax rate from 5 per cent to 2.5 per cent for individuals earning a monthly salary of Rs100,000.
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Express Tribune
an hour ago
- Express Tribune
SC calls for mediation first in litigation
The Supreme Court has called for embracing a pro-mediation approach across the judiciary, particularly at the earliest stages of litigation. In a detailed four-page order authored by Justice Miangul Hassan Aurangzeb, the top court stressed the importance of sensitising judges and lawyers to identify cases appropriate for mediation and to ensure their timely referral. "Judges and lawyers must be sensitised to identify cases fit for mediation and facilitate their referral in a timely manner. Litigants, likewise, should be encouraged to consider mediation and other methods of alternative dispute resolution as a first resort, rather than a last recourse," the order states. The directive came during the hearing of a family dispute that the court, on March 15, referred to mediation. Sara Tarrar, an advocate of the high court and an accredited mediator notified by the Law and Justice Division under the Alternative Dispute Resolution Act, 2017, was appointed as the mediator. According to the order, both parties actively participated in the mediation process and ultimately reached a settlement. Tarrar submitted her report, along with a copy of the settlement agreement dated May 5, 2025, which was officially recorded by the court. Counsel for both sides requested that a decree be issued in line with the agreed settlement. A three-member bench of the apex court, headed by Chief Justice of Pakistan Yahya Afridi, heard the matter. The case involved a challenge to a family court decision that had increased monthly maintenance for each daughter from Rs30,000 to Rs150,000, in addition to educational expenses. The father had contested the order in appellate courts, where his case was dismissed. He later approached the SC in June 2021. After remaining pending for more than three and a half years, the bench finally referred the matter to mediation, leading to a successful resolution. In its order, the SC underlined that mediation was "not merely an alternative to litigation; it is a paradigm shift in dispute resolution, built on the principles of collaboration, confidentiality, and party autonomy". Unlike traditional litigation, the order said, mediation empowers parties to shape the outcomes of their disputes through neutral facilitation rather than adversarial judgment. "It offers a nonadversarial framework that empowers parties to shape the outcome of their own disputes, guided by a neutral facilitator rather than a judicial determination." The order highlighted several advantages of mediation, including cost-effectiveness, speed, reduced burden on the judiciary and greater privacy for the disputing parties. Its informal setting fosters open dialogue and solution-focused negotiation. "The flexibility of the process allows parties to explore creative, interest-based solutions that a court of law may not be empowered to grant," the order notes. "These benefits were remarkably evident in the present case. What years of litigation could not resolve, mediation achieved within weeks." The court observed that earlier recourse to mediation often results in substantial savings of time and cost, reduces emotional tolls and helps restore relationships. The order cited the statutory framework established under the Alternative Dispute Resolution Act, 2017, and further supported by various provincial legislations. In addition, the ADR Mediation Accreditation (Eligibility) Rules, 2023 and Mediation Practice Direction (Civil) Rules, 2023, have consolidated mediation's place in the judicial landscape as a mainstream tool for dispute resolution.
Express Tribune
2 hours ago
- Express Tribune
Food price disparities persist across metropolis
A steep and widespread increase in the prices of perishable food items has been observed across the provincial capital this week, highlighting the ineffectiveness of official measures aimed at curbing artificial inflation and profiteering. Despite repeated claims by the Punjab government, enforcement of the official price list remained virtually ineffective in markets. Retailers openly flouted the government-fixed prices despite then recent establishment of a price monitoring department led by a secretary. Live chicken prices were officially reduced by Rs28 per kilogram this week, bringing the rate to Rs369383 per kg. However, it was generally unavailable, while chicken meat sold for Rs580690 per kg and boneless chicken for Rs900 to Rs1,050. Among vegetables, the official price of A-grade soft skin potatoes increased by Rs10 to Rs5560 per kg, but they were sold at Rs120140 per kg. B-grade potatoes, fixed at Rs4550, and C-grade at Rs3540, were sold as mixed lots for Rs80100 per kg. Sugar-free potato prices also rose, with A-grade set at Rs4550 but sold for as high as Rs100 per kg. A-grade onions, fixed at Rs3540, were sold for Rs80 per kg. Similar disparities were observed in B- and C-grade onions. Tomatoes followed the same trend, with A-grade fixed at Rs3540 but retailing between Rs80 and Rs120 per kg. Garlic and ginger prices showed notable increases. Locally produced garlic, officially priced at Rs176185 per kg, was sold for Rs200250, while Chinese garlic, fixed at Rs252265, was sold for Rs400. Ginger prices dropped on paper, with the Thai variety set at Rs582610 and Chinese at Rs535580 per kg, yet both were sold for Rs8001,000 per kg. Spinach, fixed at Rs3540, was sold for up to Rs100 per kg. Other items showing significant disparities included cabbage (Rs4750, sold at Rs120150) and Chinese carrots (Rs5255, sold at Rs200250). Among fruits, apple prices surged by Rs30, with official rates ranging from Rs250 to Rs420 per kg, but market prices reached Rs800 per kg. Bananas were also sold well above official prices. Papaya, melon, watermelon, cantaloupe, peach, and phalsa all recorded price gains, with official rates far lower than selling prices.
Express Tribune
2 hours ago
- Express Tribune
Cattle markets spring to life amid soaring prices
With Eidul Azha approaching, cattle markets across the metropolis have come alive with the hustle and bustle of buyers and sellers, but this year's skyrocketing prices have left citizens stunned. From the outskirts to the heart of the city, several makeshift livestock markets have been set up where people, including children, are eagerly heading to select their preferred sacrificial animals. However, prices for both small and large animals have surged drastically, making it difficult for many to afford this religious obligation. At the markets, the starting price of a bull is reported to be around Rs350,000, calves range between Rs200,000 to Rs250,000, and camels are being sold for Rs400,000 to Rs800,000. The steep rise in prices, driven by inflation and supply costs, has left both sellers and buyers anxious. To attract buyers, vendors have gone to great lengths to groom and decorate the animals. Protective measures against the summer heat are also in place as sellers are seen cooling their livestock with cold water baths and offering them traditional desi drinks. Makeshift shades have been erected to shelter the animals from the harsh sun. Meanwhile, the prices of fodder have also soared. Dry fodder such as bhoosa and toori is being sold for Rs800 to Rs850 per 40kg, while chopped green fodder costs Rs600 per 40kg, and unchopped green fodder is priced at Rs400 per 40kg. At Manawan Mandi, traders have arranged for their own electricity via generators and installed borewells for the animals' drinking water. However, no government-provided facilities like water filtration units or cooling systems for visitors have been set up. A complaints cell has been established, but many citizens remain concerned about the lack of basic amenities. Despite the challenges, the buying and selling of sacrificial animals continues in full swing.
