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US says it intends to shore up support for Ukraine until Trump takes office

Trump slammed Biden administration for giving Kyiv tens of billions of dollars 

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Brussels (AP): President Joe Biden intends to bolster U.S. military support to Ukraine in the final months of his administration, U.S. Secretary of State Antony Blinken said on Wednesday, after Russia launched a sophisticated missile and drone attack on Kyiv.

The U.S. will “continue to shore up everything we’re doing for Ukraine to make sure that it can effectively defend itself against this Russian aggression,” Blinken told reporters at NATO headquarters, before planned meetings with allied envoys and Ukrainian officials.

Blinken warned that North Korea’s decision to send its troops into combat operations alongside Russian forces “demands and will get a firm response.” He didn’t elaborate.

U.S., South Korean and Ukrainian intelligence assessments say up to 12,000 North Korean combat troops are being sent to the war. The bulk of those troops were expected to be deployed in Russia’s Kursk region where Ukrainian troops have seized a swathe of territory.

Russia’s early morning missile and drone attack was the first on Kyiv in 73 days. President Volodymyr Zelenskyy has said that Russia is intensifying its strikes, apparently in an effort to discourage Ukrainians from continuing the war, which is approaching its 1,000-day milestone.

Russia appears to be pressing its advantage as doubt swirls about how Washington might change policy on the war after Donald Trump takes office as U.S. president in January. The U.S. is the biggest provider of military help to Ukraine.

Trump has slammed the Biden administration for giving Kyiv tens of billions of dollars in aid and has promised to quickly end the conflict. Ukraine’s international backers fear that any rushed settlement would mostly benefit Russian President Vladimir Putin.

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Pakistan

KP reiterates its interest to participate in PIA bidding

Provincial BOIT had written a letter to the privatisation minister 

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Islamabad: The Khyber Pakhtunkhwa (KP) government has written another letter to Minister for Privatization Abdul Aleem Khan to participate in the sell-off bid of national airlines PIA. 

After having formally conveyed its willingness to the federal government to buy PIA, KP Board of Investment and Trade Vice Chairman Hassan Masood Kunwar had written a letter to the privatisation minister.

The letter stated that the board was now seeking an update on the matter. 

“Given the strategic importance of the process and the strong support for this initiative from the chief minister and the investment board, we kindly seek an update on the status of KP-BOIT proposal,” the letter said. 

It was mentioned in the letter that the KP government was fully committed to revitalise the once prosperous image of the PIA. 

It said that KP-BOIT would appreciate any indication of when it might expect to discuss this matter further. 

“The province’s trade and investment body remains ready to engage at your earliest convenience, prepared to elaborate on our strategic vision and our readiness to present a competitive and compelling bid that reflects our commitment to Pakistan’s aviation sector and the fact that the KP is one of the stakeholders in PIA, being part of the federation,” the letter added.

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Business

FBR denies mini-budget, GST on petroleum products in IMF talks

IMF has expressed satisfaction over Pakistan’s recent economic performance 

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Islamabad: Pakistan’s Federal Board of Revenue (FBR) on Wednesday assured that no mini-budget will be introduced while affirming the government’s commitment to maintain the annual tax target of Rs12,970 billion.

According to reports, FBR also stated that the General Sales Tax (GST) will not be imposed on petroleum products, aligning with ongoing discussions with the International Monetary Fund (IMF).

Sources also indicate that the IMF has expressed satisfaction over Pakistan’s recent economic performance, particularly the increase in the tax-to-GDP ratio, which has risen from 8.8 percent to 10.3 percent—a 1.5 percent improvement seen as a positive indicator of Pakistan's fiscal policies.

The IMF delegation reportedly viewed this increase as progress in stabilising Pakistan’s economic base.

The FBR further revealed that tax collection on agricultural income is set to begin next year, signalling an effort to broaden the tax net and sustain revenue generation in the longer term.

More talks between the IMF and Pakistani officials are scheduled, with the parties expected to review potential adjustments to Pakistan’s trader-friendly schemes.

As part of Pakistan’s commitment to meet fiscal targets, the FBR highlighted recent successes in tax collection, reporting that Rs12 billion has been collected from the retail sector over the past three months.

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