In another setback, US cuts $440 million financial aid to Pakistan

Agencies
August 17, 2019

Washington, Aug 17: In another jolt to Pakistan, the United States slashed the aid to the cash-strapped nation by nearly US $440 million, bringing down its commitment to just US $4.1 billion.

The aid was disbursed under Pakistan Enhanced Partnership Agreement (PEPA) 2010, reported Express Tribune.

The US apprised Pakistan Prime Minister Imran Khan about its decision to cut aid three weeks before his planned visit to Washington.

Notably, the PEPA was signed in September 2010 to make operational the Kerry Lugar Berman (KLB) Act that was passed by the US Congress in October 2009 to disburse US $7.5 billion to Pakistan over a period of 5 years.

Earlier the aid under the KLB stood at nearly US $4.5 billion. Following the cut, the aid will come down to US $4.1 billion.

Last year in September, the United States' military cancelled the financial aid worth US $300 million to Pakistan due to the growing concerns regarding Islamabad's failure to tackle terrorism.

In January that year, Pentagon had cut US $1 billion worth financial aid to Pakistan, with defense secretary James Mattis and other officials citing Islamabad's failure to crack down on the Haqqani terror outfit as the reason behind it, Fox News reported.

During his meeting with Pakistan Prime Minister Imran Khan, last month, US President Donald Trump strongly criticised Islamabad for its behaviour which led to the cancellation of US aid amounting to US $1.3 billion to the country.

"We were paying US $1.3 billion to Pakistan as aid, for many years. The problem was...Pakistan was not doing anything for us. They were really subversive. They were going against us. I ended that about a year and a half ago, the US $1.3 billion (aid)," Trump said during his meeting with Khan.

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Ashok Arora
January 28,2025

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New York: NRI International Love All, a non-governmental organization founded on the principles of love, communal harmony, and universal brotherhood, hosted an online tribute event to honor the remarkable legacy of Dr. Manmohan Singh, one of India's most revered leaders.

Under the leadership of its International President, Mr. Ashok Arora, a distinguished Supreme Court advocate and former Secretary of the Supreme Court Bar Association, the organization has consistently worked to promote the idea that "the world is one family"—a philosophy deeply rooted in the Indian ethos of Vasudhaiva Kutumbakam.

The tribute event brought together participants from across the globe to celebrate the life and contributions of Dr. Manmohan Singh. In his opening remarks, Mr. Ashok Arora warmly welcomed attendees and set the tone by quoting a poignant line from the Hindi film Anand: "Anand mara nahi, Anand marte nahi; ache log amar ho jaate hain" (Anand doesn’t die; good people become immortal). He highlighted Dr. Singh’s immense contributions to India's progress, emphasizing his enduring legacy as a source of inspiration.

The event featured a diverse lineup of distinguished speakers, each reflecting on Dr. Singh’s extraordinary character and achievements:

Mr. Salim Khalifa, Chairman of the Saudi Arabia Chapter, described Dr. Singh as a leader defined by wisdom, truth, and humility. He emphasized that Dr. Singh's calm demeanor, gentle heart, and extraordinary vision made him a guiding light for generations to come.

Mr. Umakant Lakhera, a senior journalist, shared his experiences covering Dr. Singh’s tenure as Prime Minister, praising his transparency and respect for democratic principles. Mr. Lakhera recalled Dr. Singh’s media-friendly approach, recounting how he encouraged tough questions and upheld accountability.

Mr. Anand Vardhan Singh, a renowned journalist and former editor of Lokmat, addressed the criticism that Dr. Singh didn’t win elections. He highlighted the 2009 general election, where under Dr. Singh’s leadership, the Congress party achieved a significant victory, increasing its seat count by 61.

Engr Syed Nasir Khurshid, a social activist and Convener of the Saudi Arabia Chapter, paid tribute with a heartfelt recitation of Allama Iqbal’s poetry. He described Dr. Singh as a once-in-a-century leader who dedicated his life to improving the economic and social conditions of the common people.

Throughout the event, Mr. Ashok Arora introduced the speakers with thoughtful insights, weaving poetry and eloquence into his commentary. He also acknowledged heartfelt messages from attendees worldwide, including journalists, intellectuals, engineers, IT professionals, and other dignitaries from countries like Australia, the UK, Germany, and the Middle East.

Speakers universally agreed on Dr. Singh’s unparalleled contributions to India’s economic growth, which laid the groundwork for the country’s current aspirations of becoming a $5 trillion economy. They celebrated his integrity, humility, and dedication to public service, marking him as one of India’s finest leaders.

The event concluded with heartfelt thanks from Mr. Salim Khalifa, who expressed gratitude to participants for joining across time zones to honor Dr. Singh. The seamless execution of the program was made possible by the technical team—Tamim Al Hasan, Azharuddin, and Ubaid Gotori—who were commended for their professionalism.

NRI International Love All remains committed to spreading the message of love and unity, inspired by the vision of leaders like Dr. Manmohan Singh.

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News Network
February 1,2025

The Union Budget 2025 has brought significant revisions to the income tax structure, aiming to address long-standing demands of middle-class taxpayers, particularly salaried individuals. The newly proposed tax slabs and rebate enhancements are expected to provide substantial relief, making taxation more streamlined and beneficial for the majority.

REVISED INCOME TAX SLABS

The proposed tax slabs under the new regime are as follows:
•    Income up to Rs 4 lakh – Nil
•    Rs 4-8 lakh – 5%
•    Rs 8-12 lakh – 10%
•    Rs 12-16 lakh – 15%
•    Rs 16-20 lakh – 20%
•    Rs 20-24 lakh – 25%
•    Above Rs 24 lakh – 30% (plus applicable cess and surcharge)

Currently, the tax slabs under the new regime are:
•    Income up to Rs 3 lakh – Nil
•    Rs 3-7 lakh – 5%
•    Rs 7-10 lakh – 10%
•    Rs 10-12 lakh – 15%
•    Rs 12-15 lakh – 20%
•    Above Rs 15 lakh – 30%

ENHANCED REBATE UNDER SECTION 87A

The budget proposes an increase in the income cap for availing the rebate under Section 87A from Rs 7 lakh to Rs 12 lakh, while the rebate amount will rise from Rs 25,000 to Rs 60,000. This effectively means that individuals earning up to Rs 12 lakh annually (or Rs 1 lakh per month) will not have to pay any income tax under the new regime, excluding special rate income such as capital gains.

Additionally, salaried taxpayers can benefit from the standard deduction of Rs 75,000, pushing the tax-free income threshold to Rs 12.75 lakh.

Recent data suggests that 78% of taxpayers have already transitioned to the new tax regime. With these latest reforms, the government anticipates an even greater shift towards the default new regime.

TDS AND TCS RATE RATIONALISATION

The government has proposed selective rationalisation of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) rates, which include:

•    Senior Citizens’ Interest Income – The tax deduction threshold will be increased from Rs 50,000 to Rs 1 lakh.

•    TDS on Rent – The annual exemption cap will rise from Rs 2.40 lakh to Rs 6 lakh.

•    TCS on Foreign Remittances – The threshold cap will increase from Rs 7 lakh to Rs 10 lakh.

Additionally, the higher 20% TDS deduction will now apply only in cases where the PAN is inoperative, ensuring that compliant taxpayers do not face undue deductions. These adjustments are expected to ease compliance burdens for taxpayers.

UPDATED TAX RETURN FILING WINDOW EXTENDED TO 4 YEARS

Currently, taxpayers can file an updated return within 24 months from the end of the relevant assessment year, provided it results in additional tax payments. The new proposal extends this window to 48 months, offering taxpayers more flexibility to rectify their tax filings and remain compliant.

The Union Budget 2025’s tax reforms reflect a concerted effort to reduce the financial strain on taxpayers while simplifying the taxation process. These changes mark a significant shift in the government's approach to personal taxation, with a clear emphasis on inclusivity and fairness.

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News Network
January 28,2025

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Mangaluru, Jan 28: The cricketing community of Mulki on the outskirts of Mangaluru, is mourning the untimely demise of 41-year-old Mansoor Mulki, a cherished member of the 7-Star cricket team. On January 26, Mansoor tragically suffered a cardiac arrest while driving in Riyadh, Saudi Arabia, leaving his family, friends, and fans in shock.

Hailing from the Bappa Byari Doddamanai family, Mansoor was not just a skilled cricketer but also an active member of the Manish Youth Club. Known for his warm personality, he had a touching conversation with his mother over the phone just 15 minutes before the fatal incident, a memory that now resonates deeply with his grieving family.

His sudden passing has left a void in the lives of his mother, wife, and three daughters. Plans are in place for the funeral rites to be conducted in Saudi Arabia, where Mansoor had been working for the past 15 years.

Amid the sorrow, his employer, Siraj, a businessman from Hejamady, has taken on the responsibility of ensuring all arrangements for Mansoor’s family. Recently returning to Saudi Arabia from India, Siraj is facilitating travel and formalities for Mansoor’s mother, wife, daughters, and brother-in-law so they can bid their final goodbyes.

This tragedy has not only left a family in grief but also a community that cherished Mansoor as a friend, mentor, and cricketing icon.

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