6. Govt unveils Rs223bn new revenue measures
• The government has announced new revenue measures of Rs223 billion in the latest budget but retained all taxes introduced in a mini-budget unveiled in mid February.
• Those revenue measures announced in the supplementary budget raising the general sales tax from 17 per cent to 18pc, imposing a 25pc sales tax on luxury item imports, and increasing taxes on cigarettes and drinks would help the government generate over Rs500bn in additional revenue in the tax year 2023-24.
• The government will share tax details with the IMF, and tax officials hope that the Fund would not raise any objections as all of its concerns had been addressed.
7. USAID links economic growth with reforms
• The government needs to follow a reform agenda and adopt solid macroeconomic policies to put the national economy on strong footing, Deputy USAID Administrator Isobel Coleman said at the end of her visit to Pakistan.
• The United States wants stable and prosperous Pakistan and USAID would help the government in improving its economy.
• USAID has been investing in Pakistan`s economy for many years, but no amount of USAID funds is going to deliver that; it is the reform agenda that should come from the government, she said while speaking to newsmen in Islamabad.
• USAID is well aware of the hyper-inflation and foreign exchange constraints and other factors affecting the Pakistan`s economy, Ms Isobel Coleman said
8. Russia to deploy tactical N-weapons in Belarus
• Russia will start deploying tactical nuclear weapons in Belarus after special storage facilities are made ready on July 7 and 8, President Vladimir Putin said on June 09, 2023, Moscow`s first move of such warheads outside Russia since the fall of the Soviet Union.
• Putin announced in March he had agreed to deploy such weapons in Belarus, pointing to US deployment of tactical nuclear weapons in a host of European countries over many decades.
• `Everything is going according to plan,` Putin told Belarusian President Alexander Lukashenko, discussing the planned nuclear deployment over a meal at the Russian leader`s summer retreat in the Black Sea resort of Sochi
9. Putin says Ukraine has begun its counter-attack; Western armour sighted
• Russia reported heavy fighting along the front in southern Ukraine on Friday, where bloggers described the first sightings of German and US armour, signalling that Ukraine`s long-anticipated counterattack was under way.
• With virtually no independent reporting from the front lines and Kyiv saying little, it was impossible to assess whether Ukraine was penetrating Russian defences in its bid to drive out occupying forces.
• `We can state for sure that this offensive has begun,` Russian President Vladimir Putin said in Sochi. `Ukrainian troops did not achieve their goals in any sector
10. US unveils $2bn arms package for Kyiv
• The United States on Friday announced a $2.1-billion military aid package for Ukraine, just as Kyiv appeared to be opening its long-awaited counteroffensive aimed at driving Russia from the country.
• The package included missiles for Patriot air defence systems, artil1ery rounds, drones and laser-guided rocket system munitions. The new arms, illustrate `the continued commitment to both Ukraine`s critical near-term capabilities as well as the enduring capacity of Ukraine`s Armed Forces to defend its territory and deter Russian aggression over the long term,` the Pentagon said in a statement.
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