Home Weekly Reviews Economic and Political weekly 28-05-2023

Economic and Political weekly 28-05-2023

Muhammad Arif : Chairman Centre of Advisory Services for Islamic Banking and Finance (CAIF), Former Head of FSCD SBP, Former Head of Research Arif Habib Investments and Member IFSB Task Force for development of Islamic Money Market, Former Member of Access to Justice Fund Supreme Court of Pakistan



Key US senator expresses concern over human rights situation in Pakistan

Key US senator expresses concern over human rights situation in Pakistan

WASHINGTON    –    As Pakistan’s government continues crackdown against vandals involved in May 9 mayhem, law­makers in United States voice concerns regarding the state of human rights in the country. One of the influential American legislators Senate Foreign Rela­tions Committee Chair Senator Bob Menendez is also among those who have expressed apprehension over the arrests and trial of May 9 attackers in the coun­try, as its grapples with an intense political crisis. The senator has voiced concerns regarding the treatment meted out to leaders, workers and supporters of the PTI after their arrests in the wake of the May 9 van­dalism. In a meeting with Pakistani-American doctor Asif Mahmood, who was also a Democratic candidate for Congress, Senator Menendez said that the US doesn’t want turmoil but stability. The senator said he is deeply concerned about innocent Pakistani-Americans detained in Pakistan and will continue to advocate for the respect of human rights in the country. During this meeting in California, Dr Mah­mood told Senator Menendez that Pakistan is facing a democratic and human rights crisis. He also de­manded US intervention in the situation. PTI USA Of­ficial Twitter shared a video of the senator speaking with Dr Mahmood during which he said: “We look for stability, not turmoil and that means respecting hu­man rights and the rule of law.” Meanwhile, PTI lead­ers in the US also held meetings with other American senators. The party’s US leaders Sajjad Burki and Atif Khan met with Senator John Cornyn in Dallas, Texas.

Russia launches its first all-weather satellite

Russia launches its first all-weather satellite

Russia on Saturday launched its Condor-FKA satellite, which can take pictures of the earth’s surface around the clock in any weather, including in conditions of heavy clouds.

The satellite was launched from Russia’s Vostochny Cosmodrome, a Russian spaceport in Russia’s far-eastern Amur Oblast, using Soyuz 2.1a, a rocket-powered vehicle, the state space agency Roscosmos said in a statement.

“The separation of the spacecraft from the upper stage was carried out successfully. The first radar satellite has been launched into a given orbit,” it said.

Condor-FKA was developed by the military-industrial corporation Scientific and Production Association of Mechanical Engineering.

The mass of the satellite is 1,050 kg.

Biden is ‘hopeful’ to get debt deal by late Friday

Biden is 'hopeful' to get debt deal by late Friday

US President Joe Biden said Friday he is ”hopeful” of a deal to raise the national debt limit by Friday night that could prevent an economic meltdown.

Biden made brief remarks to reporters about the debt ceiling before leaving Washington for Camp David.

“Things are looking good, I’m very optimistic,” he said. “I hope we’ll be able to know by tonight whether we have a deal.”

Asked if he would bow to Republican demands on work requirements for recipients to receive aid, Biden said: ”I don’t bow to anybody.”

Treasury Secretary Janet Yellen warned in a letter Friday to Congress that the US will run out of money to pay its financial obligations by June 5.

The deadline is four days later than previous estimates by the agency.

Yellen urged Congress to raise or suspend the debt ceiling or risk a devastating default.

Chaos at UK airports as nationwide border system fails



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