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IMF projects Nepal’s economy to grow at 4.2

Posted on by SAT News Desk

Kathmandu —  The International Monetary Fund (IMF) has projected Nepal’s economic growth at 4.2 percent in 2022.

The IMF revised its initial estimate of the economic growth rate in the report entitled ‘World Economic Outlook: Countering the Cost-of-Living Crisis’ which it unveiled this week.

In January, the IMF projected Nepal would achieve economic growth of 4.1 percent. However, it has anticipated Nepal’s economic growth rate to decline in 2023. As per the IMF’s projection last January, Nepal’s economic growth rate next year was estimated at 6.1 percent. But this projection has been dropped and confined at 5 percent. However, the government has set the goal of achieving 8 percent economic growth rate for fiscal year 2022/23.

Likewise, the IMF has revised the earlier estimates for inflation. It had initially estimated the inflation to be at 6.3 percent in 2022 and at 7.7 percent in 2023. But it has revised this now to be at 8.1 percent in 2022 and at 7.2 percent in 2023.

The government has however projected to limit inflation within the bounds of 7 percent through the budget for the current fiscal year. IMF has stated in its report that the global economic activity is experiencing a broad-based and sharper-than-expected slowdown, with inflation higher than seen in several decades.

The cost-of-living crisis, tightening financial conditions in most regions, Russia’s invasion of Ukraine, and the lingering COVID-19 pandemic all weigh heavily on the outlook. Global growth is forecast to slow from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023.

This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic. Global inflation is forecast to rise from 4.7 percent in 2021 to 8.8 percent in 2022 but to decline to 6.5 percent in 2023 and to 4.1 percent by 2024. Monetary policy should stay the course to restore price stability, and fiscal policy should aim to alleviate the cost-of-living pressures while maintaining a sufficiently tight stance aligned with monetary policy.

Structural reforms can further support the fight against inflation by improving productivity and easing supply constraints, while multilateral cooperation is necessary for fast-tracking the green energy transition and preventing fragmentation. RSS

Nepalese living abroad should get voting rights as soon as possible: Chairman Timilsina

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London — Chairman of National Assembly- the Upper House of the Nepali parliament – Mr. Ganesh Prashad Timilsina met with Sir Lindsay Hoyle, the Speaker of House of Commons of the UK.  During the meeting, varuous issues of historical relations between Nepal and the United Kingdom were discussed.
Similarly an exchange of experiences between the parliaments of the two countries and  exchange of views on Gurkha related issues were held. He was accompanied by the  Ambassador of Nepal to the United Kingdom, Mr. Gyan Chandra Acharya , Honorable Member of the Inclusion Commission, Mr Puspa Raj Timalsina and Deputy Head of the Embassy  in the meeting.

Sinilarly, the chairman of the UK-Nepal Friendship Group in the British Parliament, Honorable Mr. Birendra Sharma, organized a meeting in his honor. Attended lunch.

Chairman Sharma also attended other various program organised by British Nepalese community during his 1 week unofficial visit to the UK.
In a program organised by NRNA, he  stated that Nepali citizens living around the world should get an opportunity to cast their votes as soon as possible.

Addressing a program organised in his reception by Non Resident Nepali Association (NRNA) UK Chapter on Saturday,  Mr Timilsina said that Nepali political parties should come forward to provide the Non Resident Nepali citizenship to NRNs living abroad as enshrined in the country’s constitution.

Member of the National Inclusion Commission, Mr Puspa Raj Timilsina, said that Nepalese should learn skills, earn resources and return to contribute to the motherland. ‘It is possible to go back to Nepal at any age and time if you really wish to do so,’ he added.

British Asian Trust welcomes the appointment of Rishi Sunak as the UK Prime Minister

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London – The British Asian Trust (BAT) has welcomed the appointment of the first British Asian Prime Minister, Rishi Sunak, as a momentous and historical moment in UK history.

Rishi Sunak is the first person of Asian heritage and the first Hindu to lead the country. At 42, he is also the youngest PM for more than 200 years.

British Asian Trust Chief Executive Richard Hawkes said, “This is a significant moment for British Asians as we welcome Rishi Sunak as our new Prime Minister.  Representation of British Asians in the highest office in the UK deserves to be celebrated in its own right – many of our supporters in the South Asian diaspora have hailed this as a ground-breaking milestone in British politics and British history. We look forward to a long and productive working relationship with him and his government as we strive together to achieve our mutual objectives.”

Rishi Sunak most recently joined us at our Royal Annual Dinner earlier this year, along with our Royal Founding Patron, His Majesty The King, the BAT said in a press statement.

British Asian community leaders congratulate the UK PM Sunak

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London – Members and the leaders of the British Asian community in the UK have congratulated the newly appointed PM Rishi Sunak. The 42-year young PM was born in the UK in a British Asian family who migrated from Kenya.

Many Ex-Gurkha organizations and British Asian community organizations including the British Asian Trust have congratulated the youngest nonwhite Hindu PM  from the BAME community.

President of the Non-Resident Nepali Association (NRNA), Kul Acharya, has congratulated Mr Rishi Sunak, MP, on being appointed the 57th Prime Minister of the United Kingdon.

In a message posted on social media, Mr Acharya said, “All the best wishes to Rishi to bring the British economy back on track. We also hope that he would  become the first British Prime Minister to visit Nepal in over 200 years and find a lasting solution to the long-running grievances of the Gurkha veterans.”

Similarly, A well-known Nepali philanthropist and businessman based in London, Rabindra Jung Lamichhane (Ravi), has congratulated the newly appointed Prime Minister Sunak and extended his best wishes. “Huge Congratulations!@RishiSunak on becoming the PM of the UK during such challenging times. We are confident with your leadership, you will bring stability soon. You have created a history for our children & the next generation. We are proud of you and we wish you success,” he tweeted along with his pic with the 42-year-old Prime Minister.

King Charles III appointed Mr. Sunak – the first Hindu and the first British Asian- as the British Prime Minister a day after he was elected leader of the ruling Conservative Party. He was unanimously elected as leader of the ruling party after Liz Truss resigned from the post of party leader and Prime Minister after remaining in office just for 44 days.

Climate change threatening global health – report

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By Ella Hambly, Oct. 26: Climate change is severely impacting people’s health around the world, a report by a leading medical publication has found.

The Lancet Countdown report says the world’s continued reliance on fossil fuels increases the risk of food insecurity, infectious disease, and heat-related illness.

UN Secretary-General António Guterres responded that global leaders must match action to the size of the problem.

Leaders will meet for the major climate conference COP27 in Egypt next month.

The report includes the work of 99 experts from organizations including the World Health Organization (WHO) and is led by University College London.

It describes how extreme weather has increased pressure on health services globally already grappling with the Covid-19 pandemic.

Heat-related deaths globally have increased by two-thirds over the last two decades, it finds.

Temperature records have been broken around the world in 2022, including in the UK where 40C was recorded in July, as well as in parts of Europe, Pakistan, and China.

The health impacts of extreme heat include exacerbating conditions such as cardiovascular and respiratory disease and causing heat stroke and poor mental health.

But it said there are solutions. “Despite the challenges, there is clear evidence that immediate action could still save the lives of millions, with a rapid shift to clean energy and energy efficiency,” the report concludes.

Guterres said that the world is watching G20 countries, which produce 80% of global greenhouse emissions. They must step up efforts to slash emissions and lead the way by investing more in renewable energy, he added.

“Human health, livelihoods, household budgets, and national economies are being pummelled, as the fossil fuel addiction spirals out of control,” he said.

A Unicef report, also published on Wednesday, warned urgent action is needed to increase funding to protect children and vulnerable communities from worsening heatwaves.

Researchers found that the change in climate has increased the spread of infectious diseases. The number of months that facilitate malaria transmission increased in the highland areas of the Americas and Africa in the past 60 years.

Fossil fuel emissions are major contributors to air pollution. Data from the Lancet Countdown estimates that exposure to air pollution contributed to 4.7 million deaths globally in 2020, of which 1.3 million (35%) were directly related to fossil fuel combustion.

The impacts of climate change are also rapidly aggravating and worsening the effects of other coexisting crises such as food insecurity, energy poverty, and increased air pollution, it says. ( BBC)

At least 28 dead in Bangladesh from tropical storm

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DHAKA: Bangladesh rescue workers found the bodies of four missing crew of a dredger boat, taking the death toll from Cyclone Sitrang to 28 as millions remained without power, officials said on Wednesday (Oct 26).

Cyclones – the equivalent of hurricanes in the Atlantic or typhoons in the Pacific – are a regular menace in the region but scientists say climate change is likely making them more intense and frequent.
Cyclone Sitrang made landfall in southern Bangladesh on Monday but authorities managed to get about a million people to safety before the monster storm hit.

With winds of 80kmh, it still left a trail of devastation in the country’s densely populated, low-lying coastal region, which is home to tens of millions of people.

The government said nearly 10,000 tin-roofed homes were either “destroyed or damaged” and crops on large swathes of farmland were wrecked at a time of record-high food inflation.

Fire department divers found the bodies of four crew of a dredger boat that sank during the storm in the Bay of Bengal.

Bangladesh is a delta nation of more than 160 million people and is prone to natural disasters such as floods and cyclones.

Climate scientists say climate change is a factor behind many natural disasters in Bangladesh and other South Asian nations. ( Agencies)

Pakistan kicks off nationwide anti-polio vaccination campaign

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ISLAMABAD — Pakistan on Monday kicked off a week-long nationwide anti-polio vaccination campaign in an effort to eradicate the crippling disease, according to government health officials.

During the week-long anti-polio campaign, millions of children under the age of five would be administered polio drops, Minister for National Health Services Abdul Qadir Patel said, appealing to the parents to cooperate in making the country polio-free.

Thousands of anti-polio workers will be engaged in the drive to inoculate the children at their doorstep in all four provinces of the country, with special focus on children living in flood-affected areas.

The vaccination will be carried out in 28 districts of the northwest Khyber Pakhtunkhwa (KP) province and 14 districts of the eastern Punjab province, while around 6.5 million children in the southern Sindh province and over 1.7 million in the southwest Balochistan province will be given polio vaccine drops during the campaign.

Pakistan recorded 20 cases of polio so far this year, and all the cases were detected in KP province bordering Afghanistan, according to government officials. (Xinhua)

Rishi Sunak becomes first British Asian PM of UK

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London —  Britain’s Conservative Party leader Rishi Sunak becomes the first British Asian-origin Prime Minister of the United Kingdom.

Former UK Chancellor of the Exchequer Rishi Sunak on Monday became the Conservative Party leader, less than two months after he lost to Liz Truss in the Tory leadership race.
Sunak’s change in fate was triggered by the resignation of Truss after her high-profile sacking and resignation in her cabinet, following a heavily criticised mini-budget that left the UK pound tumbling.
After she was forced to step down just 45 days into office, Truss became the shortest-serving British PM. Standing before 10 Downing Street, Truss said that she recognizes she “cannot deliver the mandate” on which she was elected.
Truss’ ascent to power was paved by the Tory leadership crisis following Boris Johnson’s resignation in July, after a series of resignations of cabinet members, who protested against his scandal-plagued leadership.


Within weeks, Sunak and Truss rose to the Conservative ranks to end up as finalists for the contest for the post of UK Prime Minister. Liz Truss was later appointed as the new Prime Minister of the United Kingdom in September, which lasted less than 45 days.


After Truss resigned on Thursday, Rishi Sunak and former Prime Minister Boris Johnson were seen as frontrunners for the UK PM bid.
But Boris Johnson ruled himself out of the Conservative party leadership race despite claiming he had the required support. The former UK PM said he had come to the conclusion “this would simply not be the right thing to do” as “you can’t govern effectively unless you have a united party in Parliament.”
Sunak is born in Southampton to parents of Indian descent who migrated to Britain from East Africa.
An Oxford, and Stanford University alumnae, Sunak is famously married to Akshata Murty, the daughter of NR Narayana Murthy, the billionaire businessman who founded Infosys.


Earlier in April, reports of Akshata’s non-domicile status and alleged tax evasion had created a furrow. Rishi Sunak claimed that she has been paying all taxes.
Her spokesperson said that Akshata Murthy “has always and will continue to pay UK taxes on all her UK income”. (ANI)

Five days festival to worship animal including Diwali begins in Nepal

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Kathmandu — The second biggest festival “Tihar” has begun in Nepal. The five-days-long festival falls in either September or October. Each of the five days are specially dedicated to a living being.  Tihar is also known as Dipawali or “Diwali” among Hindus around the world however the festival is celebrated for five days in a unique way in Nepal.

The first day is dedicated to a bird, crow. The second day is dedicated to dog, a very good pet of human kind. The third day is for cow, fourth day is dedicated to ox and the fifth is the day of brothers and sisters.

Kaag Tihar(Crow Festival )
Kagpuja is performed on the day of Kartik Krishna Trayodashi. Crow is a very smart bird. A crow is an omnivorous animal. There are various reasons for worshiping it. If the crow looks at everyone equally, it will eat the insects and grasshoppers on the grain crops. Crows are also considered as messengers of Yamaraj. Kaag is also a very dear devotee of Yamaraj. In the same way, various words such as Kakagveshana, Kakanyaya, Kakabali etc. are related to crow.

Kukur Tihar (Dogs Festival )
It is celebrated on the second day of Yama Panchak i.e. Kartik Krishna Chaturdashi, which has various religious and social beliefs. This day is also known as Narak Chaturdashi. Dogs are also considered as messengers. The dog is another favorite of Yamaraj.

Dogs are not only obedient and protectors, dogs also do research and find criminals who commit various crimes. Dogs have been helping people by taking care of the house and protecting them from thieves and robbers. In the same way, it also gives advance warning when there is a natural disaster and divine calamity. Dog is also called the arm of Bhairava. That’s why we eat the favorite food of the dog and garland it on the dog festival.

Gai Tihar and Lakshmi Puja(Cow Festival )
Before performing any religious or social rites, there is a custom of Hindus to smear the house and yard with cow dung, sprinkle cow wheat all over and make their house, room and house holy. Cows are considered as livestock. Hindus consider cow as the form of Lakshmi and cow mother.

The words Gaijatra, Gaipala provide various symbolic meanings based on cow. Lakshmi is considered the goddess of blessings and a symbol of wealth. The night of Kartik Krishna Aunsi is considered as a very dark night.

Lakshmi is invoked to illuminate the night in this darkness by lighting lamps in every house. In this, there is also a message that any kind of darkness should be removed by the light of consciousness inherent in oneself.

Goru Tihar(OX Festival )
Goru Tihar, Hal Tihar or Govardhan Puja is celebrated on the fourth day. According to mythology, Govardhan is a mountain near Gokul. According to belief, Lord Krishna used to live with Gopals in Gokul. The Gopalas used to worship Indra, the king of gods, but they did not get anything from Indra.

Bhai Tika(Brother-Sister Festival)

On the final day of Tihar, Bhai Tika will be celebrated when sisters offer tika to their brothers and vice-versa.

Worshipping Self (Mha Puja)
Celebrated on the fourth day of Tihar by the Newar community is the festival of Mha Puja. It also falls on the Newari New Year which is based in the Newar calendar, Nepal Sambat. Mha Puja literally refers to self worship, making offering to one’s body.

Rishi Sunak crosses minimum threshold to contest in UK PM race

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LONDON: Conservative British politician of Indian descent Rishi Sunak is quick off the mark to bid for the leadership of the Conservative Party and the British Prime Ministership having secured more than a hundred nominations – which is the minimum requirement to contest for the post.

Sunak,  became the first Tory leadership contender to reach the 129-nomination threshold to run for party leader following the resignation of Prime Minister Liz Truss, BBC reported.

Sunak, who fell to Truss in the last leadership contest, got the backing of at least 100 Conservative Party lawmakers to enter the UK PM race. This is a key development after Liz Truss’ resignation as UK Prime Minister on Thursday which threw the country into political turmoil and left it scrambling for a stable government, as the opposition reiterated its demand for a general election.

Former UK PM Boris Johnson had also expressed his will to enter the PM race saying he is “up for it.”

On Friday, Penny Mordaunt, the Tory leader in the House of Commons too threw her hat in the ring.

“I’ve been encouraged by support from colleagues who want a fresh start, a united party and leadership in the national interest,” Mordaunt tweeted.

After Sunak reached the 100 nomination mark Conservative MP for Bournemouth East tweeted, “The free mkt experiment is over – it’s been a low point in our Party’s great history. The reset begins. Time for centrist, stable, fiscally responsible Government offering credible domestic & international leadership. Honoured to be the 100th Tory MP to support #Ready4Rishi.”

Former Health secretary Matt Hancock also confirmed his support for Sunak. He tweeted, “I have worked incredibly closely with Boris, Rishi & Penny in Government. I admire all three. With the challenges we face today: economic crisis & the need to restore authoritative leadership, Rishi Sunak is the best person to lead our country. I’m voting Rishi & hope you do too.”

Meanwhile, Tory MP Nigel Mills said it was a “mistake” for him not to back Sunak during the summer’s leadership contest. Mills tweeted, “A few weeks ago I changed my mind and didn’t back Rishi Sunak. I’m not making the same mistake again, he is clearly the prime minister we need to restore stability and tackle the many serious challenges facing the country.”

Tory MPs will vote on Monday, and two candidates will be put forward to the Tory membership unless one pulls out. The result will be announced on Friday, October 28.

It is pertinent to note that Truss became the shortest-serving British PM after she stepped down, stating that she recognizes she “cannot deliver the mandate” on which she was elected.

Truss said she would step aside for a new leader to be chosen within the next week. “I came into office at a time of great economic and international instability. Families and businesses were worried about how to pay their bills, Putin’s illegal war in Ukraine threatens the security of our whole continent and our country has been held back for too long by low economic growth,” she said in a statement. “I recognize though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party,” she added.

Shortly after Truss’s resignation, Labor Party leader Keir Starmer issued a scathing statement that ripped into the Conservative Party and called for a general election. “After 12 years of Tory failure, the British people deserve so much better than this revolving door of chaos. We need a general election now,” he said and added that “Each one of these crises was made in Downing Street but paid for by the British public. Each one has left our country weaker and worse off.”

“The British public deserves a proper say on the country’s future. They must have the chance to compare the Tories’ chaos with Labor’s plans to sort out their mess, grow the economy for working people and rebuild the country for a fairer, greener future. We must have a chance at a fresh start. We need a general election – now,” he added.

Truss stepped down a day after Indian-origin Home Secretary Suella Braverman tendered her resignation, citing “technical infringement of the rules” she committed while sending official documents. In the letter addressed to PM Truss, she also expressed concerns about the direction of the government and said key pledges made to voters have been broken.

Braverman comes less than a week after UK Finance Minister Kwasi Kwarteng was fired after serving for less than six weeks. Kwarteng was sacked after the new government’s September 23 plan of massive tax cuts resulted in the plunging of British government bonds.

Earlier, Truss defeated former Chancellor of the Exchequer Sunak through a postal ballot of all Conservative members.

Truss secured 81,326 votes while Sunak got 60,399 votes. Sunak had thanked supporters who backed him in the Conservative Party race and said now it was time for all of them to unite behind the new UK Prime Minister Liz Truss.

The Tory leadership race was triggered after Boris Johnson was forced to step down on July 7 following a series of resignations of cabinet members, who protested against his scandal-plagued leadership.

Sunak and Truss rose to the Conservative ranks to end up as finalists for the contest for the post of UK Prime Minister. (ANI)

Xi Jinping elected general secretary of CPC Central Committee

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BEIJING — Xi Jinping was elected general secretary of the 20th Central Committee of the Communist Party of China (CPC) at the committee’s first plenary session held on Sunday, according to a communique.

The session, presided over by Xi, was attended by 203 members of the 20th CPC Central Committee and 168 alternate members.

Xi was also named chairman of the CPC Central Military Commission at the session.

The members of the Standing Committee of the Political  Bureau of the CPC Central Committee elected at the session are Xi Jinping, Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang and Li Xi.

Also elected were members of the Political Bureau of the CPC Central Committee at the session, which endorsed the members of the CPC Central Committee Secretariat nominated by the Standing Committee of the Political Bureau of the CPC Central Committee.

The session named the members of the Central Military Commission.

The session approved the secretary, deputy secretaries and members of the Standing Committee of the Central Commission for Discipline Inspection (CCDI) elected at the first plenary session of the 20th CCDI.

-Xinhua

At least 15 killed in bus-truck collision on Indian highway

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NEW DELHI : A bus collided with a truck on a highway in central India, killing at least 15 people, police said on Saturday.

At least 40 other people were injured in the accident, which occurred in the Rewa district of Madhya Pradesh state late Friday, police said.

The bus was carrying at least 60 passengers when it rammed into a stationary truck that had just collided with another truck on the highway, police officer Navneet Bhasin told reporters.

Most of the passengers were laborers traveling to their homes in the northern state of Uttar Pradesh to celebrate Diwali, the Hindu festival of lights, Bhasin said.

The injured were taken to a hospital for treatment.

India’s President Draupadi Murmu and Prime Minister Narendra Modi tweeted their condolences Saturday.

India has some of the highest road death rates in the world, with hundreds of thousands of people killed and injured annually. Most crashes are blamed on reckless driving, poorly maintained roads, and aging vehicles. (AP)

Protests break out across Pak after ECP disqualifies Imran Khan

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Islamabad, UNI — PTI leader Imran Khan’s disqualification from holding public offices by the Election Commission of Pakistan (ECP) on Friday steeped the country into agitation as angry PTI workers started protests against the decision, seen as a massive political blow to Khan’s party.

Following the announcement of the verdict, chaotic scenes were witnessed outside the ECP office where enraged PTI workers converged in large numbers, chanting slogans against the government.

According to police sources, three major arteries leading to Islamabad have been blocked by the district administrator to avoid any untoward incident.

The Islamabad traffic police advised commuters to use Peshawar Road or Lehtrar Road as Chungi No 26 and Athal Chowk in Bhara Kahu area have been closed to all types of traffic due to the protests and security concerns.

In Peshawar, protesters blocked a road near Pir Zakordi bridge and another near Stadium Chowk. They also put traffic on hold after burning tyres on the Motorway near the toll plaza.

Meanwhile, in Karachi, protesters led by party leaders Ali Zaidi, Firdous Shamim Naqvi, Mehmood Moulvi, and others staged a sit-in outside the Sindh ECP office. Reportedly, PTI workers tried to force their way into the ECP building but were repelled by the police amid thunderous slogan-chanting.

In Charsadda protesters thronged the Farooq-e-Azam Chowk, where they were confronted by the ANP workers. Both sides shouted slogans against each other in the presence of a heavy contingent of police.

Swabi also emerged on the protest map after PTI cohorts barricaded the Mardan and Jehangir roads for traffic. Life in Shabqadar was also reported to have suffered from the PTI protests.

However, part of Mardan was seen cheering Imran Khan’s disqualification by distributing sweets among each other. A poor labourer from Mardan in a video message said he was so happy that Khan was gone. “I am poor so I could only buy half a kg of sweetmeat,” the labourer said.

According to Geo news reports pouring in from Naushehra, hundreds of fuming Khan fans crowded at Shawera Chowk and recorded their protest, which is currently underway.

Moreover, Mangora Road in Swat has also been closed by the protesters.

PTI’s supporters have also kicked off a protest at Shahdra Chowk in Lahore.

On the contrary, Hafizabad, a PML-N stronghold, was a scene of celebration with the N-league workers rejoicing over the ECP’s decision saying Imran Khan’s chapter had finally come to an end.

PTI youths blocked the M5 Motorway near Billiwala area in Multan’s suburbs, according to reports, while protesters sat in the middle of Delhi-Multan road in Vehari, bringing the heavy traffic to a halt.

Rishi Sunak is bookmakers’ favourite for UK’s next PM after Truss resigns

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London — British PM Liz Truss has announced her resignation stating her inability to deliver what she promised to the tory members, which means there will now be another leadership election to decide who becomes the next Conservative leader and prime minister. Rishi Sunak is the favourite to succeed Liz Truss as prime minister following her resignation.

Sunak is the bookies’ favourite to become the next prime minister, having lost out to Truss at the last leadership election just months ago.

He lost by a margin of 21,000 votes, with many members opposing him over his prominent role in toppling Boris Johnson.

But his accurate economic forecasts that his opponent’s widespread tax cuts were “fantasy economics”, makes his bid even more appealing to Tory MPs who have criticised ‘Trussonomics’.

The former chancellor is the odds-on favourite with Paddy Power (4/5) to be the UK’s third prime minister of the year.

Penny Mordaunt, current leader of the House, is another favourite to lead the Conservative Party (7/4) and Defence secretary Ben Wallace (17/2), who was already a favourite last time but refused to run.

A shock return to Downing Street for former PM Boris Johnson is also priced at 14/1.

Kemi Badenoch (20/1) is the fifth favourite. She’s currently Secretary of State for International Trade and many Tories have claimed she could be the “last hope” for the party.

Separately the Guardian’s political editor reported former minister Michael Gove was “ruled out” for the leadership. Current chancellor Jeremy Hunt has also ruled himself out of the race.

“Rishi Sunak may be the favourite to replace Liz Truss, but at 500/1, there’s great value on backing the lettuce instead. After all, it’s already lasted longer than the outgoing PM, so it looks like it has the political staying power that the Tories so desperately need, yahoo news writes.

“But, with Brexit still a huge sticking point for leadership hopefuls, the big question is: is the lettuce leaf or romaine?”

NEXT CONSERVATIVE LEADER

4/5 Rishi Sunak

7/4 Penny Mordaunt

17/2 Ben Wallace

14/1 Boris Johnson

20/1 Kemi Badenoch

33/1 Suella Braverman

40/1 Sajid Javid

40/1 Jeremy Hunt

40/1 Simon Clarke

66/1 Dominic Raab

500/1 The Lettuce

500/1 Neil Warnock

500/1 Roy Keane

500/1 Gary Neville

Rishi Sunak

Rishi Sunak ran to replace Boris Johnson as leader earlier this summer and made it to the final two along with Ms Truss, having won the most support from Conservative MPs.

During the campaign, he warned that his rival’s tax plans would damage the economy, but his message failed to appeal to party members and he lost by 21,000 votes.

Sunak only became an MP in 2015, for the North Yorkshire constituency of Richmond. Few outside Westminster had heard of him, but he was chancellor of the exchequer by February 2020.

He quickly had to grapple with the coronavirus pandemic, spending huge amounts of money trying to keep the economy afloat during the lockdown.

This didn’t come easily to a man who saw himself as a low tax and spent Conservative on the Thatcherite wing of the party but it did boost his popularity.

However, his reputation was dented following a controversy over his wife’s tax affairs, and not long after that, he received a fine for breaching lockdown rules, BBC writes.

Conservative MP Angela Richardson has already pledged her support for Sunak saying: “Having spent the summer supporting Rishi Sunak’s leadership bid, my views on his suitability have not changed. If anything, the past six weeks have brought them even more sharply into focus.” ( Agencies)

Indian PM Modi launches Mission LiFE to fight climate change

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NEW DELHI — Indian Prime Minister Narendra Modi on Thursday launched Mission LiFE (Lifestyle For Environment) in the presence of visiting U.N. Secretary-General Antonio Guterres, in the country’s western state of Gujarat.

Mission LiFE follows a three-pronged strategy. First is encouraging individuals to practice simple yet effective environment-friendly actions in their daily lives. Second is enabling industries and markets to respond swiftly to the changing demand. Third is influencing governments to support sustainable consumption.

Speaking on the occasion, Modi said that people were experiencing the effects of climate change in their surroundings, and in the last few decades unexpected calamities were witnessed.

“This is making it amply clear that climate change goes beyond only policy-making and people themselves are finding that they should contribute as an individual, families and as communities to the environment,” he added.

Emphasizing the benefits of Mission LiFE, the Indian prime minister said that it connected the powers of the people for the protection of the Earth, and taught them to utilize it in a better way.

“Mission LiFE inspires us to do all that can be done in our everyday life to protect the environment. Mission LiFE believes that the environment can be protected by making changes in our lifestyle,” Modi said.

Guterres, on the occasion, warned humanity against over-consumption of the Earth. He hoped that initiatives of the Mission LiFE movement spread throughout the world.(Xinhua)

APEC economies vow efforts to curb inflation, support sustainable growth

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BANGKOK — Finance ministers and senior representatives from the Asia-Pacific Economic Cooperation (APEC) economies wrapped up a meeting here Thursday, pledging efforts to manage inflationary pressures and support sustainable development.

During the two-day APEC Finance Ministers’ Meeting 2022, participants discussed issues including easing inflationary pressure, redirecting stimulus measures from COVID-19 to long-term growth drivers and maintaining fiscal sustainability.

“We need to deepen our cooperation in developing strategic, measured and innovative responses in order to keep the world economy steady and propel it forward, especially in the areas which require our collective action, such as climate change, sustainable development and digital connectivity,” said Thailand’s Minister of Finance Arkhom Termpittayapaisith, who chaired the meeting.

At the meeting, held under the theme of “Advancing Digitalization, Achieving Sustainability,” Arkhom stressed the importance of striking a balance between growth and taking care of the environment, highlighting that digitalization and sustainability “will be the key to APEC’s prosperity.”

Ministers reiterated their commitment to implementing flexible fiscal policies to support inclusive economic growth and job creation. They pledged to use all available policy tools to the extent possible to manage inflationary pressures and steer the global economy back to its growth path.

They urged efforts to strengthen economic and financial resilience while keeping public debt on a sustainable path. They also pledged to not adjust exchange rates for competitive purposes. (Xinhua)