32 dead as cargo plane crash destroys Kyrgyzstan houses

Islamabad, Feb 26: Islamabad on Tuesday declared former Prime Minister Nawaz Sharif an absconder while simultaneously denying extending bail to him.

The federal cabinet presided over by Prime Minister Imran Khan, cited that Sharif failed to provide required medical reports and has violated the bail terms.

The government has also decided to freeze gas and electricity tariffs for the next four months, The Dawn reported.

"After Nawaz Sharif failed to submit his medical report of any hospital in London, the medical board rejected a medical certificate sent by him and [the government] declared him an absconder. From today, Nawaz Sharif is an absconder according to the law of land and if he does not return to the country he will be declared a proclaimed offender," said Dr Firdous Ashiq Awan, Special Assistant to the Prime Minister on Information, in a press conference.

She further asserted that the Punjab government, which was authorized by the Islamabad High Court (IHC) to decide Sharif's case on medical grounds, had written several letters asking him to submit his medical report from any hospital in London. However, he failed to do so and only sent a certificate that was not accepted by the medical board.

"If he (Nawaz Sharif) is seriously ill then why a comprehensive medical report is not being submitted to the medical board," Firdous added.

Further, she said that the office of the opposition leader was also waiting for his younger brother and Leader of the Opposition in the National Assembly Shahbaz Sharif, who was also staying in London for 'no reason'.

"He is getting a monthly salary and enjoying luxurious offices and other perks and privileges but not performing his duties required by his office and the people. Shahbaz Sahib, return to the country and justify your salary and other benefits being given from taxpayers' money," Firdous added.

On October 29 last year, the IHC granted bail for eight weeks to Sharif, who was convicted and disqualified in corruption cases, on medical grounds.

Sharif left Pakistan for London along with Shahbaz on November 19, 2019, for his medical treatments there.

Karachi, Jun 5: Pakistan's coronavirus cases rose to 89,249 on Friday after a record 4,896 new infections were detected in the country, while the death toll due to COVID-19 has reached 1,838, according to the health ministry.

The Ministry of National Health Service said that 68 patients died in the last 24 hours, taking the death toll to 1,838, whereas another 31,198 people have recovered.

It was the third consecutive day when a record number of cases were reported in Pakistan after the Eid holidays and easing of lockdown restrictions at the end of May.

Sindh province reported 33,536 infections, Punjab 33,144, Khyber-Pakhtunkhwa 11,890, Balochistan 5,582, Islamabad 3,946, Gilgit-Baltistan 852 and Pakistan-occupied Kashmir 299.

The authorities have conducted 638,323 tests, including a record 22,812 tests in the last 24 hours, the ministry said.

Despite the spike in number of COVID-19 cases, both houses of parliament are scheduled to meet separately on Friday. The Senate session started this morning while the National Assembly will be held in the afternoon, Radio Pakistan reported.

Chairman Senate Sadiq Sanjrani and Speaker National Assembly Asad Qaiser at a meeting at the parliament house in Islamabad reviewed arrangements made for the two sessions.

Fumigation was also carried out in the parliament house for the safety of the lawmakers and staff.

Earlier, the Opposition rejected the idea of virtual meetings and insisted that the sessions be held in person, noting that it was an important session of parliament because the budget is expected to be presented in the National Assembly in the next week.

The novel coronavirus which first originated from China's Wuhan city in December last year has claimed 391,249 lives and has infected over 6 million people globally, according to Johns Hopkins University data.

Moscow, Jun 7: OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.

The group, known as OPEC+, also demanded countries such as Nigeria and Iraq, which exceeded production quotas in May and June, compensate with extra cuts in July to September.

OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis. Those cuts were due to taper to 7.7 million bpd from July to December.

“Demand is returning as big oil-consuming economies emerge from pandemic lockdown. But we are not out of the woods yet and challenges ahead remain,” Saudi Energy Minister Prince Abdulaziz bin Salman told the video conference of OPEC+ ministers.

Benchmark Brent crude climbed to a three-month high on Friday above $42 a barrel, after diving below $20 in April. Prices still remain a third lower than at the end of 2019.

“Prices can be expected to be strong from Monday, keeping their $40 plus levels,” said Bjornar Tonhaugen from Rystad Energy.

Saudi Arabia, OPEC’s de facto leader, and Russia have to perform a balancing act of pushing up oil prices to meet their budget needs while not driving them much above $50 a barrel to avoid encouraging a resurgence of rival U.S. shale production.

It was not immediately clear whether Saudi Arabia, the United Arab Emirates and Kuwait would extend beyond June their additional, voluntary cuts of 1.18 million bpd, which are not part of the deal.

BULGING INVENTORIES

The April deal was agreed under pressure from U.S. President Donald Trump, who wants to avoid U.S. oil industry bankruptcies.

Trump, who previously threatened to pull U.S. troops out of Saudi Arabia if Riyadh did not act, spoke to the Russian and Saudi leaders before Saturday’s talks, saying he was happy with the price recovery.

While oil prices have partially recovered, they are still well below the costs of most U.S. shale producers. Shutdowns, layoffs and cost cutting continue across the United States.

“I applaud OPEC-plus for reaching an important agreement today which comes at a pivotal time as oil demand continues to recover and economies reopen around the world,” U.S. Energy Secretary Dan Brouillette wrote on Twitter after the extension.

As global lockdowns ease, oil demand is expected to exceed supply sometime in July but OPEC has yet to clear 1 billion barrels of excess oil inventories accumulated since March.

Rystad’s Tonhaugen said Saturday’s decisions would help OPEC reduce inventories at a rate of 3 million to 4 million bpd in July-August. “The quicker stocks fall, the higher prices will get,” he said.

Nigeria’s petroleum ministry said Abuja backed the idea of compensating for its excessive output in May and June.

Iraq, with one of the worst compliance rates in May, agreed to extra cuts although it was not clear how Baghdad would reach agreement with oil majors on curbing Iraqi output.

Iraq produced 520,000 bpd above its quota in May, while overproduction by Nigeria was 120,000 bpd, Angola’s was 130,000 bpd, Kazakhstan’s was 180,000 bpd and Russia’s was 100,000 bpd, OPEC+ data showed.

OPEC+’s joint ministerial monitoring committee, known as the JMMC, will meet monthly until December to review the market, compliance and recommend levels of cuts. JMMC’s next meeting is scheduled for June 18.

OPEC and OPEC+ will hold their next scheduled meetings on Nov. 30-Dec. 1.