Ousted Pak PM picks brother Shahbaz Sharif as successor

News Network
July 30, 2017

Karachi, Jul 29: Pakistan’s ousted Prime Minister Nawaz Sharif on Saturday picked his brother and Punjab province Chief Minister Shahbaz Sharif as his successor and nominated former Petroleum Minister Shahid Khaqan Abbasi as interim Prime Minister for 45 days.

“Now that I have left the Prime Minister’s Office, I propose the name of Shahbaz Sharif as Prime Minister. But it will take some time as he has to contest election on a National Assembly seat. So for an interim period, Shahid Khaqan Abbasi has agreed to become the Prime Minister,” Mr. Sharif said in an address to party legislators in Islamabad.

Defiant note

Mr. Sharif, who was disqualified on Friday by the Supreme Court after a probe into his family’s assets following last year’s Panama Papers revelations that linked his children to offshore companies, struck a defiant note in the speech, taking credit for Pakistan’s nuclear tests and recalling the history of the country’s military coups.

“I have made Pakistan a nuclear power. I was offered $5 billion not to conduct nuclear tests, but I refused. I have made relations better with our neighbours. But I was handcuffed for that…. Whenever martial law is imposed in the country, it was because of a handful of people, not by the entire military,” he added.

The five-member bench of the top court unanimously ruled that Mr. Sharif had been “dishonest” in not disclosing his earnings from a UAE-based company in his nomination papers.

Mr. Sharif, however, said the Supreme Court ruling surprised him. “I was not holding any public office when my son set up the company in Dubai and we were in exile. I have not received any salary from my son’s company. I have not received any kickback and done anything wrong.”

He also recalled how prime ministers in Pakistan have been sent packing in the past 70 years. “Our 70 years’ history is regrettable. If the practice of sending Prime Ministers home is not stopped, the country will face greater problems.”

No Pakistani Prime Minister has completed a full five-year term.

Pakistan Muslim League-N sources said Mr. Shahabaz Sharif would contest from Mr. Sharif’s NA-120 constituency, a stronghold of the party. The Election Commission will issue the date of the election next week. Till the elections are over, Mr. Abbasi will remain the interim Prime Minister.

Mr. Abbasi, a Sharif loyalist, has been a member of the National Assembly since 1998. He has a masters degree in electrical engineering from George Washington University in Washington and had served as the chairman of the Pakistan International Airlines and the chief executive of private airline Air Blue. He was the Petroleum Minister in the out-going Sharif cabinet.

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News Network
February 3,2025

Mandya: An eight-year-old girl has alleged that she was sexually assaulted by two boys inside the washroom of her school in Mandya district of Karnataka, police said on Monday.

The incident was alleged to have occurred on January 31. However, the complaint came to light on Sunday when the girl's mother approached the police, they said.

Citing her statement, a senior police officer said that the class two student of a government school has alleged that two boys allegedly took her to the washroom where they threatened her to remove clothes and thereafter thrashed her with a stick. They also beat her on her private parts.

One of the boys she identified is her classmate while another is from a higher class, he said.

The girl alleged that the accused students threatened her not to disclose the incident to anyone but later she confided in her mother, he added.

Based on the statement of the girl, a case was registered under the Protection of Children from Sexual Offences Act against the two boys and an investigation is underway to ascertain the sequence of events and verify facts, said Mandya Superintendent of Police Mallikarjun Baladandi.

As part of the investigation, police are also reviewing the CCTV footage from the school premises.
However, the medical examination report of the girl did not reveal any such injury on private parts, police said, adding that statements of the boys will be recorded and further action will be taken accordingly.

"We are currently investigating the case and are verifying details given by the girl in her statement. There are some inconsistencies in her account," he added.

Meanwhile, BJP State President B Y Vijayendra condemned the incident on social media platform X alleging that law and order in the state had completely deteriorated with cases of rape of minors, assault on women and daylight robberies being reported in the state.

He demanded that strict action be taken against the perpetrators.

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News Network
January 31,2025

Bengaluru: Special matching grants for the development of the backward region of Kalyana Karnataka, approval for the Mekedatu project and release of Rs 11,495 crore of special grants recommended by the 15th Finance Commission were among the suggestions and requests made by the Karnataka government during a pre-budget consultation with the Centre.

Last month, Union Finance Minister Nirmala Sitharaman met finance ministers of states and union territories (UTs) to take their demands and suggestions for the Union Budget 2025-26, to be presented on February 1.

In his presentation at the meeting, Karnataka Revenue Minister Krishna Byre Gowda on behalf of the state government led by Chief Minister Siddaramaiah sought release of Rs 5,300 crore promised in the Union Budget to Upper Bhadra project to provide water to drought prone central Karnataka and special matching grants for the development of backward region of Kalyana Karnataka and the global eco sensitive Western Ghats.

The state urged the Central government to shift from a "reimbursement-based" system to an "advance-release" model for the implementation of the centrally sponsored schemes and also proposed increasing the Central share of their honorariums to Rs 5,000 per month for ASHA workers and Rs 2,000 for Anganwadi helpers.

According to a statement shared by the Gowda's office on Friday, the minister suggested increasing Pradhan Mantri Awas Yojana assistance from Rs 1.5 lakh to Rs five lakh for urban houses and from Rs 72,000 to Rs three lakh for rural houses.

Karnataka has requested additional railway lines, expedited projects, and Central support for 50 per cent of land acquisition and 100 per cent construction costs.

The state also urged approvals for road infrastructure proposals, including new ring roads and upgrades to National Highways.

Gowda has also requested the Union government to increase pensions for old-age, widows, physically-challenged persons.

The Karnataka government called for transparent and need-based reforms in disaster relief fund allocation and timely release of SDRF (State Disaster Response Force) funds, prioritising states' disaster vulnerabilities, it stated.

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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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