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Debt burden triples in a decade | The Express Tribune

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Debt burden triples in a decade | The Express Tribune



ISLAMABAD:

Pakistan’s debt burden has reached alarming levels, with every citizen is now burdened with Rs318,252 debt compared to Rs90,047 a decade ago, according to a new report by the Economic Policy & Business Development (EPBD) — an independent think tank providing strategic advice to policy makers on the economic policies ecosystem.

The report revealed that the country’s debt has been rising at an average annual rate of 13%, effectively tripling over the last 10 years. At the current pace, the burden doubles every six years.

Pakistan’s total debt now stands at 70.2% of the national economy, a ratio significantly higher than in other countries of the region. The report warned that the trend poses a serious threat to fiscal stability if corrective measures are not adopted swiftly.

It recommended that the government impose strict financial discipline, expand the tax net, and reduce the policy rate from 11% to 9%. A two-percentage point cut, it noted, could lower interest costs on loans by Rs12 trillion, provide fiscal space, and boost business competitiveness.



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Sinclair, Nexstar will bring ‘Jimmy Kimmel Live’ back to owned ABC stations on Friday

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Sinclair, Nexstar will bring ‘Jimmy Kimmel Live’ back to owned ABC stations on Friday


Sinclair and Nexstar are returning “Jimmy Kimmel Live!” to ABC affiliate broadcast stations beginning Friday, the companies said in separate statements.

The announcements come three days after Disney’s ABC broadcast network returned the late night program to its air after a nearly week-long suspension. Disney had temporarily suspended the late night show following comments Kimmel made about the alleged murder of conservative activist Charlie Kirk and President Donald Trump’s MAGA movement.

“Our objective throughout this process has been to ensure that programming remains accurate and engaging for the widest possible audience. We take seriously our responsibility as local broadcasters to provide programming that serves the interests of our communities, while also honoring our obligations to air national network programming,” Sinclair said in a statement on Friday.

“Over the last week, we have received thoughtful feedback from viewers, advertisers, and community leaders representing a wide range of perspectives,” Sinclair said. “We have also witnessed troubling acts of violence, including the despicable incident of a shooting at an ABC affiliate station in Sacramento. These events underscore why responsible broadcasting matters and why respectful dialogue between differing voices remains so important.”

The broadcast station owners said earlier this week they would continue to preempt Kimmel’s late night show, meaning it would be unavailable on local stations for roughly 20% of the country, while they evaluated the situation and continued discussions with Disney.

Sinclair owns roughly 40 ABC affiliate stations in the U.S., including one in in Washington, D.C. Nexstar owns about 30 in markets including Salt Lake City and New Orleans.

Kimmel addressed the situation — and the ongoing preemptions — during his returning show this week.

“We are still on the air in most of the country, except, ironically, from Washington, D.C., where we have been preempted,” Kimmel said during Tuesday’s monologue. “After almost 23 years on the air, we’re suddenly not being broadcast in 20% of the country, which is not a situation we relish.”

Sinclair said Friday it had proposed measures to “strengthen accountability, viewer feedback, and community dialogue” at ABC and its affiliates.

“While ABC and Disney have not yet adopted these measures, and Sinclair respects their right to make those decisions under our network affiliate agreements, we believe such measures could strengthen trust and accountability,” it said.

Nexstar said in a statement: “We have had discussions with executives at The Walt Disney Company and appreciate their constructive approach to addressing our concerns.”

Disney declined to comment Friday.

Kimmel’s suspension last week came shortly after Nexstar announced it would not air the program in light of the host’s comments. Sinclair soon after said it would likewise preempt the program.

Those announcements followed comments from Federal Communications Commission Chairman Brendan Carr that suggested ABC affiliate stations could be at risk of losing broadcast station licenses over Kimmel’s remarks, which came during a show monologue.

The series of events raised questions about influence by the Trump administration on the media and First Amendment protections.

“Our decision to preempt this program was independent of any government interaction or influence,” Sinclair said Friday. “Free speech provides broadcasters with the right to exercise judgment as to the content on their local stations. While we understand that not everyone will agree with our decisions about programming, it is simply inconsistent to champion free speech while demanding that broadcasters air specific content.”

Earlier this week, Sen. Maria Cantwell, D-Wash., sent a letter to Sinclair pushing to bring “Jimmy Kimmel Live!” back on air. Sinclair owns the Seattle ABC affiliate station.

Nexstar similarly denied any government influence.

“As a local broadcaster, Nexstar remains committed to protecting the First Amendment while producing and airing local and national news that is fact-based and unbiased and, above all, broadcasting content that is in the best interest of the communities we serve,” Nexstar said in a statement.

“We stand apart from cable television, monolithic streaming services, and national networks in our commitment – and obligation – to be stewards of the public airwaves and to protect and reflect the specific sensibilities of our communities,” the statement continued. “To be clear, our commitment to those principles has guided our decisions throughout this process, independent of any external influence from government agencies or individuals.”



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Deposit claims up to Rs 15L get easier for kin of deceased – The Times of India

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Deposit claims up to Rs 15L get easier for kin of deceased – The Times of India


MUMBAI: RBI has issued new rules on Friday that in the event of a bank customer’s death, deposits of up to Rs 15 lakh can be claimed by their nominees through a simplified process. For co-operative banks, the limit has been set at Rs 5 lakh.RBI’s new norms have standardised procedures across banks for deposits, safe deposit lockers, and articles in safe custody. The framework replaces earlier circulars and introduces uniform documentation, thresholds, and timelines. The new rules have to be implemented by the end of the current fiscal.For deposits without a nominee, survivorship clause, or will – and where there is no court order or contesting claim – banks must settle claims on submission of a claim form, death certificate, valid ID of the claimant, an indemnity bond, and, if applicable, a letter of disclaimer from other heirs. A legal heir certificate or a declaration by an independent person acceptable to the bank is also required. Banks cannot demand a third-party surety bond for claims within the threshold.RBI has fixed a 15-day deadline for banks to settle deposit claims after receiving all documents. For lockers and safe custody articles, banks must contact claimants and set an inventory date within 15 days. Delays will attract penalties – interest at bank rate plus 4% per annum for deposits, and Rs 5,000 per day for lockers and safe custody items.Banks have been directed to implement the new rules at the earliest, and no later than March 31, 2026.





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TCS to honour all lateral hire offers this month – The Times of India

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TCS to honour all lateral hire offers this month – The Times of India


BENGALURU: TCS will honour all offers made to about 650 lateral hires whose onboarding was delayed for nearly three months. TOI has reviewed emails sent to candidates, asking them to make themselves available for the pre-joining onboarding process. The company has begun issuing onboarding mails, with some candidates receiving joining dates in Oct. Onboarding would also be subject to successful background verification completion. “We can confirm that we are honouring all offers that have been made, as we have always done through our history, whether it is to freshers or experienced professionals. We look forward to them joining and being a part of TCS,” the company told TOI.





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