Latest news with #FarooqSattar
Express Tribune
6 days ago
- Business
- Express Tribune
Postal Life Insurance awaits Rs48b refund
PML-N-led coalition government in the Centre now has 229 members in the NA. PHOTO: APP The National Assembly Standing Committee on Privatization has directed the finance ministry to make a plan of returning Rs48 billion to Postal Life Insurance, as the company is struggling to meet its expenditures. A meeting of the standing committee was held on Friday under the chair of Dr Farooq Sattar. Finance ministry officials told the panel that the government had earmarked Rs14 billion over the last four financial years for the insurance firm. However, it has utilized only half the amount. The company officials told the committee that the organization was established in 2021 on an emergency basis to get Pakistan's name removed from the Financial Action Task Force (FATF)'s grey list. Postal Life Insurance currently possesses Rs48 billion in funds but the amount is lying with the finance ministry, which is neither returning the amount nor paying interest, the company officials told the NA panel. They added that the company failed to pay its clients their insurance claims on time due to paucity of funds.
Express Tribune
28-04-2025
- Politics
- Express Tribune
'PPP to exit govt if canal issue not resolved in CCI'
Pakistan Peoples Party (PPP) leader and Sindh Energy Minister Nasir Shah has warned that the party may part ways with the federal government if the canal-related issue is not resolved in the upcoming meeting of the Council of Common Interests (CCI). Speaking to the media following a meeting with Muttahida Qaumi Movement Pakistan (MQM-P) leaders at the party's headquarters on Sunday, Shah said, "If the issue of canals is not resolved in the CCI meeting, the PPP will separate from the government." During the meeting, PPP leaders requested that MQM withdraw their candidate for the upcoming Senate election, to which MQM leaders asked for some time to respond. He stressed that the canal issue holds serious importance for Sindh and has united people across the province. "On the canal issue, everyone in Sindh is on the same page, and MQM has also extended its full support to PPP both in the Sindh Assembly and the National Assembly," he said. Shah expressed confidence that the matter would be resolved, citing strong coordination among Prime Minister Shehbaz Sharif, President Asif Ali Zardari, and PPP Chairman Bilawal Bhutto Zardari. "I am confident that the decision taken between the Prime Minister, the President, and Chairman Bilawal will be final," he said. He warned that if PPP exits the coalition, the federal government may not survive. "We know that if PPP leaves the government, it won't be able to continue. That's why we expect the government to fulfill its promise on the canal issue." A PPP delegation, led by Shah and including senior leaders Waqar Mehdi and Saeed Ghani, met with MQM-P leaders Dr Farooq Sattar, Aminul Haque, and others to discuss multiple political matters. During the meeting, the PPP requested MQM-P to withdraw its candidate from the upcoming Senate by-election for a vacant seat. Speaking to reporters after the meeting, Dr Farooq Sattar said the MQM-P would consult its central committee before making a decision on PPP's request. "A final response will be given after internal discussions," he stated, adding that the proposed amendments to the local government system were also discussed during the meeting. Answering a question, Nasir Hussain Shah said that Karachi's development requires substantial funding, but people from Islamabad just visit, talk, and leave. Only the Green Line project was provided by the Centre, he said. Shah said the federal government needs to 'do more' for Karachi which is the backbone of Pakistan's economy. During Imran Khan's tenure, Karachi was completely neglected. He said the federal government must announce a major package for Karachi, as 10 to 15 billion are not enough.
Express Tribune
05-04-2025
- Politics
- Express Tribune
MQM-P criticises PPP's stance on canals project
Muttahida Qaumi Movement-Pakistan (MQM-P) leader Dr. Farooq Sattar has criticised the Pakistan Peoples Party (PPP) for its inconsistent stance on the six-canal project. He stated that President Asif Ali Zardari initially supported the project, but the PPP is now opposing it due to public pressure. Speaking at a press conference at MQM-P's central office in Bahadurabad on Friday, Dr. Sattar demanded that the president should apologise to the public for this reversal. Senior party leaders Aminul Haque, Nasreen Jalil, and Fozia Jamal were also present at the conference. Dr. Sattar also highlighted his party's achievements, giving credit to the party for the recent 12-17 per cent reduction in electricity prices announced by the prime minister. He described this as a significant relief for citizens. He revealed plans for an additional reduction of Rs6 per unit after during an upcoming MQM-P event in Karachi, where the prime minister will also be present. "Yesterday, the prime minister announced a significant reduction in electricity tariffs for consumers across the country, ranging from 12 to 17 per cent. This reduction is a considerable relief provided to the public by the coalition government." Emphasising MQM-P's priorities, Dr. Sattar stated that the party focuses on resolving public issues like water and electricity rather than pursuing ministerial positions.
Express Tribune
04-04-2025
- Business
- Express Tribune
Farooq Sattar credits MQM-P's 'major role' in power tariff reduction
Listen to article Muttahida Qaumi Movement-Pakistan (MQM-P) senior leader Farooq Sattar on Friday commended the government's recent decision to reduce electricity prices by 12 to 17 percent, calling it a significant relief for various consumer groups. Speaking to the media in Karachi, Farooq Sattar stated that the price reduction, announced by Prime Minister Shehbaz Sharif, was a direct result of MQM-P's efforts in the current coalition government. He explained that MQM-P had focused on two key issues during its participation — lowering electricity costs and resolving water supply problems — and played a crucial role in achieving the reductions. He noted that some consumers had seen their electricity bills decrease from Rs 10,000 to Rs 8,500 due to the reductions. Looking ahead, Farooq Sattar expressed hope that the upcoming budget would result in a reduction of interest rates from 12% to 9%, which would make loans more accessible for the public. He acknowledged that the impact of such measures might take time to be fully realised but stressed that they represented important progress in the government's economic policies. It should be noted here that Prime Minister Shehbaz Sharif on Thursday announced to reduce electricity prices by 15% or Rs7.41 per unit on account of seasonal tariff adjustments and by increasing budget-neutral subsidy to boost consumption from national grid and providing solace to financially struggling families The benefit has been given to about 40.3 million consumers, mainly 35 million residential users.
Express Tribune
27-02-2025
- Politics
- Express Tribune
MQM-P slams 16 years of PPP rule in Sindh, pledges to issue white paper
Listen to article Muttahida Qaumi Movement-Pakistan (MQM-P) Pakistan has pledged to release a white paper against the Sindh government, while calling the 16-year-long rule of the Pakistan People's Party in the province the worst and most corrupt. In a press conference, senior MQM-P leaders including Farooq Sattar and Nasreen Jalil accused the provincial government of gross mismanagement and corruption, claiming that they had brought yet another lament for Karachi. The white paper will include details the state of governance under the PPP, pointing out that 25 billion rupees in dues remain unpaid to government employees residing in Karachi and working in local government bodies. Farooq Sattar remarked that these employees had their monthly gratuity contributions deducted over 30 to 40 years of service, but those dues have not been paid to retirees since 2017. He questioned, "What could be a bigger economic crime than this?" He further explained that all these Karachi-based institutions, led by the Mayor of Karachi or the Provincial Minister for Local Government, have been under the control of Sindh's feudal lords since 2017, when MQM-P was removed from overseeing them. Farooq Sattar stated that Rs 25 billion of dues for Karachi's retired employees remain unpaid since 2017, with similar issues affecting Hyderabad. He emphasized that after the 18th amendment, the Sindh government is responsible for paying these dues. The MQM leaders revealed that Karachi Metropolitan Corporation (KMC) owes Rs 15 billion to 10,000 employees, while Karachi Water and Sewerage Board (KWSB) owes Rs 6 billion to 5,000 employees. Similarly, the Karachi Development Authority (KDA) owes Rs 5 billion to over 1,000 retired employees. Other bodies, such as WASA, HMC, and HDA in Hyderabad, owe another Rs 4-5 billion. A further part of the white paper on Sindh government's mismanagement will be released after Ramzan. Farooq Sattar accused the Sindh government of depriving Karachi's 25 towns of their rights, with retired employees being treated unfairly. He also accused the provincial government of hiring individuals with fake domicile certificates for new recruitments, especially in Karachi and Hyderabad, and in medical colleges. The MQM leaders stated that the Sindh government is perpetrating both an economic and educational massacre against the people of Karachi. Farooq Sattar raised questions about where the Rs 25 billion had gone, stressing that these funds were Karachi's taxpayers' money, not anyone's personal wealth. He demanded an inquiry into the missing funds. He also pointed out that the salaries and benefits of provincial ministers, including the Chief Minister, are paid from Karachi's taxes. Farooq Sattar demanded that the government investigate where the tax money is being allocated. In his press conference, Farooq Sattar urged the political figures in Islamabad and Rawalpindi to pay attention to Karachi's plight, stressing that this situation was harmful to Pakistan's stability and strength. He reassured the retired employees that they were not alone, adding that MQM Pakistan had returned with renewed strength and unity. He warned that post-Ramzan, the rising costs of essential goods would be highlighted. "This is a warning to those who underestimated our strength during our organizational restructuring," he said. On the question of collaboration with the Muttahida Qaumi Movement-Haqiqi (MQM-H) leader, Afaq Ahmed, Farooq Sattar expressed hope that old agreements would be revived, though he acknowledged that Afaq Ahmed had rejected his appeal for unity in the past. Earlier, the Pakistan Tehreek-e-Insaf (PTI) announced plans to release a white paper evaluating the performance of the Pakistan Muslim League-Nawaz (PML-N) government in Punjab during its first year in office. Addressing a press conference at the Lahore Press Club on Wednesday, Leader of the Opposition in Punjab, Malik Ahmad Khan Bhachar, sharply criticised the provincial government, alleging that public funds were being misused for self-promotion. Without directly naming Punjab Chief Minister Maryam Nawaz, he accused the administration of diverting state resources toward promoting her and former Prime Minister Nawaz Sharif.
