Buffoons imran

Dangerous Ruling Buffoons Making A Mockery Of Pak: Imran

Pakistan Tehreek-e-Insaf (PTI) chairman and former prime minister Imran Khan on Friday expressed his concern about the government’s actions, stating that they are making a mockery of Pakistan abroad.

“The dangerous ruling buffoons don’t realise the damage they are doing to Pak’s image abroad by sham FIRs & absurd sedition charges against a former PM for using terms ‘Dirty Harry’ & ‘psycopath’! They are making a mockery of Pakistan,” tweeted Khan.
He also warned that foreign investors may be getting a troubling message after the Pakistani government’s decision to not accept the Supreme Court’s decision in the Punjab polls delay case.

“Also, what msg is being sent to foreign investors when govt itself is not accepting SC decisions? Investors need security of contracts & that means faith in judicial system. What confidence can they have when govt itself casting aside SC orders? This happens in a banana republic,” he tweeted.

Khan’s comments came after the federal government demanded that Chief Justice of Pakistan (CJP) Umar Ata Bandial step down, claiming that his position had become “controversial” after Justice Athar Minallah’s note in the case.

Justice Minallah stated that the Supreme Court’s suo motu notice over the delay in the announcement of provincial assembly elections was dismissed by a majority 4-3 ruling.

A three-member SC bench comprising Chief Justice of Pakistan Umar Ata Bandial, Justice Ijazul Ahsan, and Justice Munib Akhtar had announced the verdict on the PTI’s petition challenging the Election Commission of Pakistan’s (ECP) move to postpone the Punjab Assembly polls till October 8.

This ruling was rejected by the government, who labeled it a “minority verdict”, with the National Assembly also passing a resolution against the top court.

The government’s refusal to accept the Supreme Court’s decision has raised concerns about the state of country’s democracy and judicial system.

The PTI chief also claimed that the sedition cases filed against him and the imprisonment of senior party leader Ali Amin Gandapur are attempts to undermine their party’s ability to contest elections.

“Sedition cases against me – this is 144th case against me- and our senior ldr Ali Amin along with his imprisonment, are simply attempts to undermine our Party’s ability to fight elections. This is all part of London Plan in which Nawaz Sharif was given assurances that PTI would be crushed before elections through fake cases & imprisonment of its leadership,” he tweeted.

Imran Khan has been pushing for assembly elections in Punjab and Khyber-Pakhtunkhwa provinces as part of a campaign to force an early general election that he has waged since being forced from office a year ago after losing a vote of confidence, reported The Express Tribune.

However, Prime Minister Shehbaz Sharif has rejected Imran Khan’s call for an early general election and his government had backed the Election Commission of Pakistan (ECP) delay in the votes in the two provinces to Oct 8.

The commission cited a lack of resources and the government agreed, saying it was not possible to organise the provincial elections while the country was struggling with an economic crisis and with a general election due around early October anyway.

But the Supreme Court ruled that the delay was illegal and voting in the two provinces should be held between April 30 and May 15, reported The Express Tribune. (ANI)

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Foreign Investors In Indian Stocks

Foreign Investors Turn Net Buyers In Indian Stocks

Foreign portfolio investors (FPIs) have turned net buyers in Indian stock markets after having sold two months on a trot in January and February – data from the National Securities Depository (NSDL) revealed.

FPIs have bought assets worth about Rs 7,936 crore in Indian stock markets in March 2023, according to NSDL data.
The banking crisis in the US that emanated after the collapse of Silicon Valley Bank in early March seemed to have made renewed appetite for Indian stocks.

One of the most prominent lenders in the world of technology startups, Silicon Valley Bank, which was struggling, collapsed on March 10, after a run on the bank by the depositors. After the run on the bank, local regulators closed down the tech lender and put it under the control of the US Federal Deposit Insurance Corporation (FDIC). In latest, First Citizens Bank agreed to acquire all of its deposits and loans.

In January and February, FPIs sold equities worth Rs 28,852 crore and Rs 5,294 crore, respectively. NSDL data showed. Foreign investors were apparently cautious amid risks from the then volatility in Indian stock markets.

“The sustained selling by FPIs appears to be over since they have turned buyers in the last few days. The near-term outlook for FPI looks much more positive now. Even though Indian valuation continues to be relatively high, the recent market correction has made valuations a bit more reasonable than earlier,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Barring some exceptions, foreign portfolio investors (FPIs) had been selling equities in the Indian markets for over a year, which started in October 2021 for various reasons.

Tightening monetary policy in advanced economies including rising demand for dollar-denominated commodities, and strength in the US dollar had triggered a consistent outflow of funds from Indian markets. Investors typically prefer stable markets in times of high market uncertainty.

In 2022, foreign portfolio investors sold Rs 121,439 crore worth of stocks in India on a cumulative basis, the data on the NSDL website showed. (ANI)

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