MANILA, Philippines — The excess campaign funds of then-president Rodrigo Duterte were used for the reward system of police officers during his administration’s brutal war on drugs.  Duterte himself admitted this to Santa Rosa City Rep. Dan Fernandez during the House of Representatives quad committee during its 11th probe on his controversial anti-drug campaign.  “I still remember that you mentioned na yung pera galing sa donation ng inyong campaign funds will be utilized for the reward system, that’s private money,” Fernandez said.  (I still remember you mentioned that the money from the donation for your campaign funds would be utilized […]...

Keep on reading: Excess campaign funds used for drug war reward system, Duterte admits

Imagine living with water up to your knees for half of the year, where homes are flooded, and people constantly fear that the sea might one day engulf the town and everyone in it. This is the reality for the sinking islands in the Philippines—a cluster of four island barangays in Tubigon located in the […]

Public financial management systems in Asia and the Pacific face significant challenges, with many indicators falling short of international standards. Fixing these issues requires a strategic, transparent, and carefully timed approach to reform.

Public financial management systems in Asia and the Pacific face significant challenges, with many indicators falling short of international standards. Fixing these issues requires a strategic, transparent, and carefully timed approach to reform.

• Holds introductory meeting with finance minister
• Govt pledges to end gas supply to captive power plants by Jan
• Lender’s team to hold joint session with power and petroleum divisions today

ISLAMABAD: The International Monetary Fund (IMF) has sought a detailed, output-based update on Pakistan’s digitalisation plans for its revenue system, including the use of artificial intelligence to expand the tax base and increase collections.

On the energy side, the country has pledged to halt gas supply to captive power plants (CPPs) by January 2025, redirecting them to the national grid despite a strong pushback from influential rent-seeking industrialists. The IMF has firmly rejected any amendments to this programme benchmark.

The visiting IMF team, led by Pakistan’s mission chief Nathan Porter, held an introductory meeting on Tuesday with Finance Minister Muhammad Aurangzeb. Minister of State for Revenue Ali Pervez Malik, State Bank Governor Jameel Ahmad and Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial were also present.

The mission is also holding separate technical sessions with all the stakeholders, including the FBR, power and petroleum divisions and the energy sector regulatory authorities. In all these engagements, the mission appeared to have not expressed its mind so far, except from raising exploratory questions, participants told Dawn.

It is not yet clear if the dialogue would lead to policy-level discussions that had been a critical part of IMF programmes’ quarterly reviews.

The current $7 billion Extended Fund Facility (EFF), however, has been designed in a manner that the IMF and Pakistan authorities should hold biannual review meetings for the disbursement of about $1bn instalments during each cycle.

The first formal review has to take place based on the end-December performance for Pakistan to qualify for disbursement for a second instalment of over $1bn by March 15, 2025.

Officials said the IMF mission has called for detailed explanations on the digitalisation of FBR’s processes for revenue collection, application of artificial intelligence for identifying and tracing tax evaders and their taxable incomes and businesses and involvement of specialised expert firms. They have also sought a complete update on the track-and-trace system.

In initial meetings, the FBR attributed recent revenue shortfalls — particularly in the first month of the second quarter — to the declining inflation.

The power sector’s performance appears to be within agreed limits concerning circular debt and current revenues.

Circular debt rose by about Rs70bn, below earlier estimates of Rs240-250bn. A circular debt management plan was approved only last week by the Economic Coordination Committee (ECC), led by the finance minister.

Sources said the government had been going back and forth over the disconnection of gas supply to inefficient captive power plants, belonging mostly to the textile sector, to utilise surplus capacity in the national power grid.

The industrialists have, however, now mustered support from gas companies. Some stakeholders are now pushing for the supply of imported LNG to CPPs at a weighted average cost of local and imported molecules on the premise that electricity connections were not available or were insufficient in certain areas.

The IMF mission is scheduled to have a joint session with the power and petroleum divisions on Wednesday (today) to discuss their interrelated issues, including circular debt, planned tariff adjustments, loss reduction programmes and recoveries.

Published in Dawn, November 13th, 2024

TEHRAN: Iranian bank cards can now be used in Russia, state television reported, as the two countries linked their banking systems in the latest bid to counteract sanctions.

Iranian banks have been excluded since 2018 from the SWIFT international financial messaging service, which governs the vast majority of transactions worldwide.

The move is part of a raft of sanctions that were re-imposed on Iran after the United States withdrew from a landmark 2015 nuclear deal.

Iranian bank cards can now be used in Russia, state television channel IRINN said on Monday, showing the withdrawal of money using an Iranian bank card from an ATM in Russia.

Iranians can now use their cards in Russia to pay for in-store purchases

The operation was made possible by connecting Iran’s interbank network Shetab to its Russian equivalent Mir, the channel said.

Iranians can currently withdraw money in Russia, and will in the future be able to use their cards to pay for in-store purchases, it added.

“The plan is also going to be implemented in other countries that have a wide range of financial and social interactions with Iran, for example Iraq, Afghanistan and Turkiye,” it said.

Both Iran and Russia have sought to counteract the effects of sanctions on their economies.

Since the start of Russia’s invasion of Ukraine in 2022, Moscow has faced mounting sanctions, and its ties with Tehran have grown closer in parallel.

Ukraine and its Western allies have since the start of the conflict accused Iran of supplying Russia with both drones and missiles for use in the war.

Tehran and Moscow signed an agreement in June to strengthen their cooperation in the banking sector.

In the future, Russians will also be able to use their bank cards in Iran, IRINN said, without specifying when.

Russia has been pushing for the creation of an international payment platform as an alternative to the SWIFT service, from which key Russian banks have also been excluded since 2022.

Published in Dawn, November 13th, 2024

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The proposed project will support the Royal Government of Cambodia in its commitment to reduce Gender-based Violence (GBV) line with Sustainable Development Goal (SDG) 5 on gender equality, specifically to eliminate all forms of violence against all women and girls in the public and private spheres, through proven and novel approaches across the continuum of prevention, mitigation, and response.

The project will be aligned with the following impacts: (i) modern public health service system ensuring well-being of all Thais in an effective, fair, sufficient, and sustainable manner developed; and (ii) UHC, including access to essential health care services, sustained. The outcome is: access to quality public hospital services by all in selected provinces improved.

The proposed Northern China Agriculture and Food Ecosystem Net Zero Transformation Project (project) will support the PRC to achieve its climate commitment through catalyzing financing and strengthening institutional capacity for net zero transformation in agriculture and food ecosystem.

The noises made by organisms like ants and worms as they move around in the soil can be used to assess whether an ecosystem is in good shape

Echolocating bats can more easily find and pollinate long-stemmed flowers that stand out from the surrounding foliage, which may be why this floral trait evolved

The New Horizons mission to Pluto, now zooming out of the Kuiper belt, has made a discovery that could upend what we know about where the solar system ends

New blood tests can reveal whether your immune system is fighting fit by looking at the balance of different immune cells, but there may be a simpler way of gauging your immune health

A mathematical proof shows that some quantum states can resist nature’s tendency to disorder – but only under very specific conditions

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