Entertainment
Govt considers slashing FBR tax target, proposal of floods levy on cards
- Govt mulls reducing FBR’s tax target to Rs13.7tr from Rs14.13 tr.
- Reduction of tax target by Rs300-500bn for FY26 possible.
- Flood levy to be imposed on high-net-worth sectors, individuals.
ISLAMABAD: After missing the deadline to privatise the Pakistan International Airlines (PIA), the government is preparing different scenarios to revise downward the Federal Bureau of Revenue’s (FBR) tax collection target in the range of Rs300 billion to Rs500 billion for the current fiscal year, The News reported on Thursday.
On the one hand, there is a possibility of reducing the FBR’s annual tax collection target from Rs14.13 trillion to Rs13.7 trillion or Rs13.9 trillion, taking into account the potential revision in the macroeconomic framework.
There is another proposal on the cards on account of slapping a flood levy in order to generate the resources for the utilisation of funds on rehabilitation and reconstruction efforts.
The government is finalising the exact details for the proposed flood levy, which is expected to be imposed on high-net-worth sectors and individuals.
According to initial estimates worked out for flood damages, the country’s major crops such as rice, sugarcane, and cotton are expected to face losses of 15%, 5.7%, and 10%, respectively.
The livestock has also faced losses. This will result in a revision in the real GDP growth target from 4.2% to around 3%. The CPI-based inflation is also expected to go up from the 5-7% range to 8%.
When contacted, one senior official said that the FBR’s revenues might face revenue losses in the first half (July-December) period to the tune of Rs300 billion. The losses incurred by the agriculture sector might erode the purchasing power of the farm sector, so there are estimates of hurting the collection of Sales Tax.
But the independent tax experts fear that the revenue losses might go close to Rs500 billion for the current fiscal year.
The FBR high-ups argued that the revenue losses would start recovering in the second half (Jan-June) period because the remaining crops, such as wheat, might achieve better yields.
On the privatisation front, the government has missed the deadline for privatising the PIA transaction by August 2025.
The privatisation of First Women’s Bank and HBFC transactions by May 2025.
A financial advisor has been hired for the privatisation of three batch distribution companies (Iesco, Fesco, Gepco), and sell-side due diligence is currently underway, with bidding targeted for December 2025.
The government is now targeting a third bank, ZTBL, for privatisation by the end of this year, and aims to initiate the process for hiring a financial advisor for the privatisation of Batch II Discos (Hesco, Sepco, Pesco) by the end of April 2025, but this could not be accomplished.
The government wants to move towards Genco privatisation, with bidding for Nandipur targeted for January 2026. The transaction structure for the Roosevelt Hotel is still underway.
The government aims to continue to prioritise the privatisation of commercial state-owned enterprises (SOEs), with the highest priority on profitable commercial SOEs, and supported by the completion of SOE privatisation classification, to reduce the government’s commercial footprint and attract investments that can contribute to Pakistan’s development.
These efforts should be supported by fundamental structural reforms to restore the power sector to viability.
Key measures include continued progress on Disco privatisation and/or moves toward private concessions to improve Disco performance and services; sustained efforts to shift captive power to the electricity grid; complete the restructuring of the National Transmission Dispatch Company to improve efficiencies; privatising inefficient public generation companies; and making further gradual progress toward a competitive electricity market.
The Pakistani authorities have committed to ensuring that the implementation of these reforms will bring the flow of any new Circular Debt (CD) to zero by FY31 (when the above stock operation ends) at the latest.
Entertainment
Sarah Ferguson issues apology in personal note to royals after downfall
Sarah Ferguson appears to reeling from the humiliation of being completely cut off from the royal family and is now trying to grovel her way into gaining back some sympathy.
The former Duchess of York was also ousted after King Charles removed all the royal honours and titles from her ex-husband Andrew Mountbatten-Windsor. They both were found to have a shady connection to the paedophile financier Jeffery Epstein forcing the monarch to take a severe action after public backlash.
Previously, Sarah and Andrew had a tradition to send Christmas cards to family and friends. This year, with Christmas around the corner, Fergie had been signing the festive cards alone to send out to the royals, per DailyMail author Barbara Davies.
Princess Beatrice and Princess Eugenie’s mum had been slowly earning the trust and favour of the royals and had even attended the Sandringham Walk in 2023. However, all of that fell apart when the controversies lined up against the Yorks.
They are also set to vacate the Royal Lodge in the first half of 2026 which would officially (and hopefully for royals) mark the end of the chapter.
“With the long-divorced couple finally preparing to go their separate ways, 66-year-old Sarah, it is understood, has been signing her cards alone,” a source revealed.
They added that the cards which are addressed to members of the Royal Family have “a gushing personalised apology” written for causing the trouble through her past bad decisions.
In what is being termed as a ‘desperate’ attempt, Fergie is making a plea to the royals to somehow prove a little contrition that she feels. The source shared that she had forlornly written on the cards: “I hope we’ll meet again”.
It is suggested that Sarah will be along with Andrew for Christmas this year as they are also banned from all royal family private celebrations. Meanwhile, their eldest daughter Beatrice is going abroad with her family and friends.
Princess Eugenie is yet to decide, but it is likely that she would follow her sister’s strategy to avoid drama.
Entertainment
Amanda Seyfried is ‘going to keep campaigning’ for ‘Mamma Mia 3′
Amanda Seyfried is not letting go of her hopes for a third Mamma Mia! film and says she’s more motivated than ever to see it happen.
Speaking with PEOPLE at the Los Angeles premiere of The Testament of Ann Lee on Dec. 14, the actress made it clear she’s ready to keep pushing for Mamma Mia 3, especially if it allows her beloved character Sophie to step into a new phase of life.
When asked what Sophie’s future might look like if the franchise returns, Seyfried immediately imagined motherhood.
“Oh, with kids. I mean, I love being a mother,” the 40-year-old said, drawing a parallel between her own life and Sophie’s journey.
“I love playing a mother, and I would love to dive into the curiosities of motherhood and raising children on a Greek island, just like Donna did with Sophie.”
Meryl Streep famously played Donna, Sophie’s free-spirited mother, in the original 2008 musical.
Seyfried believes that exploring Sophie as a parent could open up fresh emotional ground for the story.
“I think that would be really interesting,” she said, adding that while she doesn’t know exactly where the plot would go, she’s confident the heart of the franchise would remain the same.
“I have no idea where the story is going to go, but I know there’s going to be a lot of singing and dancing.”
Her enthusiasm doesn’t stop there. Seyfried made it clear she’s not quietly waiting on the sidelines.
“I’m going to keep campaigning for that movie until I’m blue in the face,” she said, emphasizing just how committed she is to seeing the third installment made.
There is reason for optimism.
Producer Judy Craymer has confirmed that a script for Mamma Mia 3 has already been completed and that the film remains in development as a follow-up to 2018’s Mamma Mia! Here We Go Again.
“Well, we know what we want to do with the movie, and it will happen,” Craymer told Deadline in May, while also discussing the possibility of Sabrina Carpenter joining the cast alongside Seyfried and Streep.
Off screen, Seyfried brings real-life experience to the idea of motherhood.
She shares daughter Nina, 8, and son Thomas, 5, with her husband, actor Thomas Sadoski.
The couple got engaged in 2016, eloped the following year, and now live with their children on a farm in upstate New York.
For Seyfried, both on screen and off, motherhood seems like a story she’s more than ready to keep telling.
Entertainment
Actor James Ransone, known for his roles in “The Wire” and “It: Chapter Two,” dies at 46
James Ransone, the actor who played Ziggy Sobotka in the HBO series “The Wire” and appeared in many other TV shows and movies, has died. He was 46.
The Los Angeles County Medical Examiner’s office said in online records that Ransone died by suicide on Friday.
Ransone’s film credits include “It: Chapter Two,” “The Black Phone” and “Black Phone 2,” and he appeared in TV shows including the cop drama “Bosch” and “Poker Face.”
CBS News reached out to representatives of Ransone on Sunday, as well as to a spokesperson for the medical examiner’s office, for comment.
Emma McIntyre/FilmMagic
Ransone, a Maryland native, told Interview Magazine in 2016 that he had realized he was a full-blown actor while shooting “Generation Kill,” a 2008 HBO mini-series also starring Alexander Skarsgård and Jon Huertas. He also spoke about struggling with addiction for several years before he sobered up ahead of filming the series.
According to the interview, Ransone’s passion for performing arts was cultivated when he was a teenager in Baltimore.
“Baltimore breeds a really specific type of weirdo,” he told Interview Magazine. “Animal Collective is from Baltimore. Dan Deacon, John Waters. There’s a through line of weirdness and a hard edge that I see when I meet people from that area.”
Ransone is survived by his wife and their two children.
If you or someone you know is in emotional distress or a suicidal crisis, you can reach the 988 Suicide & Crisis Lifeline by calling or texting 988. You can also chat with the 988 Suicide & Crisis Lifeline here.
For more information about mental health care resources and support, The National Alliance on Mental Illness (NAMI) HelpLine can be reached Monday through Friday, 10 a.m.–10 p.m. ET, at 1-800-950-NAMI (6264).
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