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Pakistan’s rating is upgraded by Fitch to “CCC+.”

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In the framework of Pakistan’s staff-level agreement (SLA) with the IMF on a new 37-month USD7 billion Extended Fund Facility (EFF), the upgrade “reflects greater certainty over the continued availability of external funding,” the Fitch Company said in a statement on Monday.

Nonetheless, it issued a warning, saying that Pakistan would be exposed if it did not carry out difficult reforms that would jeopardise program funding and performance.

According to the current budget for the fiscal year ending in June 2025 (FY25), “We believe this will be achievable, given the strong past record of support and significant policy measures.”

Fitch reported that Pakistan has effectively concluded its nine-month Stand-by Arrangement with the global lender in April, according to the last IMF program.

The government “cut spending, increased taxes, and raised the price of petrol, electricity, and gas over the past year,” according to the statement.

The PML-N led coalition government in Pakistan is expected to hold onto power for the next 18 months, with no urgent preparations for new elections, according to a recent assessment by the global rating agency.

The current administration will keep putting the International Monetary Fund (IMF) reforms into practice, which will help the economy expand.

Even though former prime minister Imran Khan has received relief in a number of cases, the rating agency believes that his release from prison is improbable in the near future.

The current account deficit for Pakistan is expected to stay at 1% in FY2024–2025 on the economic front.

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Preliminary ruling on Sheikh Rashid’s exoneration plea on conspiracy to assassinate President Zardari

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On Thursday, the Islamabad District and Sessions Court reserved judgment on Sheikh Rashid’s (leader of the Awami Muslim League) appeal in the matter of alleged plot to assassinate President Asif Ali Zardari.

Earlier, Sheikh Rashid sought exoneration in the matter by lodging a plea.

On Thursday, the session was presided over by Civil Judge Yasir Mehmood.

The ex-minister of the federal government and his legal team made an appearance in court.

In court, lawyer Sardar Razaq contended that the FIR filed against Sheikh Rashid did not adhere to the law.

The veteran politician’s lawyer begged the court to clear his client’s name in the case that was filed with the Abpara Police Station.

The case’s ruling was postponed by the court.

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KP CM Ganadapur granted three weeks of travel bail by PHC

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The chief minister of KP, Ali Amin Gandapur, has been granted three weeks of transit bail in his plea with the Peshawar High Court (PHC).

The appeal for information regarding charges against Chief Minister Ali Amin Gandapur was considered by a two-judge panel from the PHC, which included Chief Justice Ishtiaq Ibrahim and Justice Sahibzada Asadullah.

The chief justice noted that the chief minister showed up for the court hearing, even though he was actually scheduled to be in Islamabad for an IMF meeting.

The applicant’s legal representative has asked for specifics of all pending charges against Chief Minister Gandapur, including those in Punjab.

According to the assistant attorney general, he told the ministry of the interior to adhere rigidly to court orders.

According to CJ Ibrahim, they have the option to request a response from the federal government and extend protection bail up to the Punjab region.

In every case, the additional attorney general ensured that court orders were implemented. He said that he had written to each district and requested details from the Punjab Police and the Inspector General.

The assistant attorney general has asked for an extension of three weeks to complete the report.

Gandapur could not attend the court daily due to his administrative duties and his position as chief minister and public office holder, according to Justice Asadullah.

After extending KP CM’s protective bail, the judge postponed the case hearing to December 17.

“Prepared to Protest”

Speaking to the media outside of PHC, KP CM Ali Amin Gandapur declared that he was prepared for the PTI protest meeting and that this time, the action plan will be stringent but undisclosed.

He emphasized that their peaceful protest was in accordance with their constitutionally protected right. According to him, his group was attacked, rubber bullets were shot, and routes were blocked so that protests couldn’t take place.

Importantly, on November 24th, Aleema Khan, who is the brother of PTI founder Imran Khan, said that her brother had called for a final protest.

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A response to an intra-party election case has been granted an extension by PTI.

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The matter involving PTI’s intra-party elections was heard by the Election Commission of Pakistan (ECP), and the party once again asked for more time to respond.

Barrister Gohar Ali Khan, chairman of the PTI, and petitioner Akbar S. Babar were both present before a two-member ECP court that heard the matter.

In response to PTI’s plea for additional time to respond, the Election Commission extended the deadline.

Additional case proceedings will not resume until December 4, per the commission’s adjournment.

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