ISLAMABAD: Leading Oil Marketing Companies (OMCs) have announced to open their outlets across the country on November 25, 2021, in order to ensure facilitating consumers.
A shutdown strike has been called by the Petroleum Dealers Association on November 25, 2021.
Gas & Oil Pakistan Company Limited (GO), with the largest retail outlet network of 1,000 outlets in the private sector and the largest network of company-owned, company operated (COCO) outlets in Pakistan assured the customers that all its outlets would remain open and continue to function normally.
“GO remains firm in its commitment to fulfilling the fueling needs of the nation come what may,” the company said in a tweet.
Shell Pakistan also announced to open its outlet to serve the nation. “Shell Pakistan announces that they will not participate in the strike on November 25, 2021,” according to the company. All the company-operated retail stations will be opened to serve the customers, it added.
Hascol, another OMC, assured that all its owned and company-operated (COCO) stations, including all service stations on the M2 Lahore-Islamabad Motorway will remain open and ready to serve them as per routine.
Pakistan State Oil (PSO) also showed its commitment that all COCO stations will remain open nationwide and continue to function normally. “PSO is committed to serving the nation during such challenging time,” it said.
ISLAMABAD: Pakistan has granted approval for transportation of 50,000 metric tons of wheat and medicine from India to Afghanistan, citing the goodwill and exceptional humanitarian gesture.
The transportation of wheat and life-saving medicine was allowed from India via the Wagah Border, a statement said on Wednesday.
“As a goodwill gesture towards the brotherly Afghan people, the government of Pakistan has decided to allow the transportation of 50,000 Metric Tonnes of wheat and life-saving medicines from India to Afghanistan via Wagah Border on an exceptional basis for humanitarian purposes,” the Foreign Office said.
The FO said the decision of the government of Pakistan was formally conveyed to the Charge d’ Affaires of India, here at the Ministry of Foreign Affairs today.
ISLAMABAD: A protocol was signed on Tuesday between Pakistani and Chinese authorities for inspection and quarantine requirements for onion export from Pakistan to China.
The protocol was signed between the General Administration of Customs China (GACC) of the People’s Republic of China and the Ministry of National Food Security and Research (MNFSR) of the Islamic Republic of Pakistan.
The agreement was signed by Syed Fakhar Imam, Federal Minister for National Food Security and Research and Nong Rong, the Ambassador of Peoples Republic of China in Pakistan at Ministry of National Food Security and Research (MNFSR), Islamabad.
It was reaffirmed that such initiatives would further strengthen friendship ties between both countries.
Such trade-related Memorandum of Understandings (MoU) would bring the people of both countries more closely together.
Syed Fakhar Imam, the Federal Minister highlighted that the agricultural sector is indispensable to the country’s economic growth, food security, employment generation, and poverty alleviation, particularly for the rural population.
It was further stated that the present government under Prime Minister Imran Khan has been giving high priority to the growth of the agriculture sector on a sustainable basis and is implementing the most appropriate policies to achieve the desired outcomes.
Syed Fakhar Imam highlighted that Pakistan with around 138 thousand ha and 1.8 million tons of onion production stands at 6th and 9th position in terms of onion area and production respectively.
Moreover, Pakistan contributes 2.1 per cent in the world onion area and 1.9 per cent in its world production. The minister stated that Pakistan has been exporting rice, mango and citrus to China after complying phytosanitary import requirements of China.
The instant protocol would also create awareness about quarantine and phytosanitary compliance among Pakistan onion producers.
Nong Rong, the Chinese Ambassador anticipated that the protocol would open new ways for more Pakistani products to reach Chinese markets.
He further said that China and Pakistan are complementary to each other. China is already supporting Pakistan in Foot and Mouth disease control, chili, potato, beef and mutton production.
The CPEC would further result in such trade ties. Work on development quarantine and Phytosanitary procedures for export of Pakistani onions to China was initiated by the Department of Plant Protection (DPP), Ministry of National Food Security & Research (MNFSR) was initiated during January 2019.
The National Plant Protection Organizations of both the countries conducted Pest Risk Analysis (PRA) and the technical negotiations resulted in the form of Protocol during April 2021.
Through friendly consultations, and in order to ensure safe entry of onion (Allium cepa Linn.) from Pakistan to China, to prevent the introduction of pests, and to protect plant health under the provisions of Sanitary and Phytosanitary Measures (SPS Agreement) of the World Trade Organization.
DPP/ NPPO – Pakistan and GACC/ NPPO – China has agreed to sign draft “Protocol of Inspection and Quarantine Requirements for the export of onion from Pakistan to China between General Administration of Customs of the People’s Republic of China and Ministry of National Food Security and Research of the Islamic Republic of Pakistan”.
Under this Protocol, the DPP would conduct pest survey, implement Integrated Pest Management (IPM) targeting quarantine pests of concern to China during the growing season of the onion by adopting internationally recognized phytosanitary inspection methods and ensure pest-free export of onion to China.
The processing companies that intend to export onions from Pakistan to China shall be registered and recommended by DPP after approval through an audit for further registration with GACC. At the end, Syed Fakhar Imam expressed his deepest thanks to His Excellency, Nong Rong, Ambassador of the Peoples Republic of China for attending this signing ceremony and paid special thanks to the General Administration of Customs China (GACC)/ NPPO – China and the Chinese Government for cooperation and facilitation of bilateral trade of agricultural goods between Pakistan and China.
Governor State Bank of Pakistan, Dr. Reza Baqir, chaired a meeting today with Director General FIA Sanaullah Abbasi to strengthen and coordinate efforts of SBP, banks and Federal Investigation Agency (FIA) to fight money laundering, cyber-attacks and online frauds. The meeting was also attended by the Presidents of Banks and senior officers of FIA and SBP.
Governor SBP emphasized the need for close cooperation amongst banks, SBP, and FIA so those white-collar crimes are expeditiously investigated and fraudsters are apprehended and prosecuted.
SBP has taken several measures in the recent past to strengthen its work on Anti-money Laundering (AML) as well as taken regulatory and supervisory measures to improve banks’ controls to prevent digital and social engineering frauds.
In addition to better controls at the level of Financial Institutions and enhanced customers awareness, effective investigation and prosecution of criminals is needed to substantially reduce incidences of money laundering, digital frauds and cyber-attacks.
FIA team offered support in strengthening cyber security at banks and suggested banks carry out an Information Security (IS) audit of their systems. Welcoming the suggestion SBP informed that as per existing regulations banks are required to regularly carry out their information system audit and penetration testing, however, it would be reemphasized to the industry through PBA.
The meeting identified key follow-up areas and associated timelines for strengthening cooperation between SBP, FIA, and banks in these areas.
ISLAMABAD: Prime Minister Imran Khan on Saturday directed the authorities to ensure all facilities on a priority basis to Chinese industrialists, who are ready to start operation in the country.
In a meeting with Chinese businessmen, the prime minister said the country will support Chinese businesses in Pakistan on a priority basis and are grateful to them for their keen interest in accelerating their investment in Special Economic Zones (SEZs).
The Chinese business delegation led by Chen Yan from Challenge Fashion (Pvt) Ltd.
During the meeting, the prime minister was told that Chinese businessmen are almost ready to start operations in the glass, ceramics and information technology sectors.
The prime minister said that Pakistan and China were connected not only in the past or present but would remain united through their future generations too.
“We appreciate the valuable relationship of the peoples of the two countries,” he added.
It is worth mentioning that OPPO, one of the leading tech manufacturers in the world, is going to establish a local mobile manufacturing unit and a research and development centre in Pakistan.
It would not only save a lot of foreign exchange reserves on the import of smartphones annually but would also create employment opportunities for our tech graduates.
The meeting was also attended by Energy Minister Muhammad Hammad Azhar, Advisor on Commerce Abdul Razzak Dawood, SAPM on Political Communication Dr Shahbaz Gill, SAPM on CPEC Affairs Khalid Mansoor and Chinese Ambassador Nong Rong along with senior officers concerned.
In his remarks, Chinese Ambassador in Pakistan Nong Rong said that he was very happy as since the prime minister’s previous meeting with the Chinese businessmen on September 13, a lot of issues had been resolved and great progress had been achieved.
He said that the Chinese entrepreneurs were encouraged and hoping great progress after this meeting.
“We will send more positive information to China to encourage more Chinese businessmen to make decision to invest in Pakistan,” he commented.
A Chinese entrepreneur representing OPPO, said that the company had already been present in Pakistan for more than seven years and had made around $150 million investment in the country.
He said like other companies, for OPPO too, it was a very good environment in Pakistan to continue to invest there and the interaction with the prime minister helped the swift resolution of the issues.
He thanked the prime minister for helping the Chinese businessmen by extending facilitation to them.
“If anybody comes to me and ask should they invest in Pakistan, I will say yes,” he remarked.
Subsequent to the imposition of the ban on July 20, 2021, the PTA remained in communications with the TikTok management.
As a result of continuous engagement, senior management of the platform assured PTA of its commitment to take necessary measures to control unlawful content in accordance with local laws and societal norms.
The company also assured that the users who are continuously involved in uploading unlawful content will be blocked from using the platform.
Keeping in view the assurances, the authority has decided to lift the ban on TikTok forthwith.
The PTA will continue to monitor the platform in order to ensure that unlawful content contrary to Pakistan’s law and societal values is not disseminated.
KARACHI: The inflation based on Sensitive Price Indicator (SPI) has increased by 18.34 per cent for the week ended November 18, 2021 over the same week a year ago, according to data issued by the Pakistan Bureau of Statistics (PBS) issued on Friday.
The year on year trend depicts increase of 18.34 per cent, LPG (76.12 per cent), Electricity for Q1 (75.32 per cent), Vegetable Ghee 1 Kg (56.94 per cent), Cooking Oil 5 litre (56.28), Mustard Oil (55.42 per cent), Vegetable Ghee 2.5 Kg (52.94 per cent), Petrol (44.35 per cent), Diesel (40.21 per cent), Washing Soap (37.70 per cent) and Chilies Powdered (34.18 per cent).
Major decrease in prices observed in Onions (38.61 per cent), Pulse Moong (28.80 per cent), Potatoes (26.55 per cent), Tomatoes (6.34 per cent) and Sugar (3.51 per cent).
The SPI for the current week ended on November 18, 2021 recorded an increase of 1.07 per cent. Increase in the prices of Chicken (8.26 per cent), Cooking Oil 5 litre (4.72 per cent), Bananas (4.18 per cent), Washing Soap (3.94 per cent), Vegetable Ghee 2.5 kg (3.15 per cent), Vegetable Ghee 1 kg (2.38 per cent), Rice Irri (1.76 per cent), Pulse Moong (1.62 per cent), Eggs (1.52 per cent), Fire Wood (1.24 per cent) and Tea Prepared (1.21 per cent), was observed with joint impact of (0.78 per cent) into the overall SPI for combined group of (1.07 per cent).
On the other hand, decrease observed in the prices of Tomatoes (5.77 per cent), Sugar (4.25 per cent), Onions (2.14 per cent), Gur (1.48 per cent), Potatoes (1.36 per cent), Pulse Masoor (0.43 per cent), Garlic (0.13 per cent), Wheat Flour & LPG (0.08 per cent) each and Pulse Gram (0.02 per cent).
During the week, out of 51 items, prices of 27 (52.94 per cent) items increased 10 (19.61 per cent) items decreased and 14 (27.45 per cent) items remained stable.
KARACHI: TPL Properties (TPLP) and Bahria Foundation have signed a Memorandum of Understanding (MoU) for the construction of tourist beach resorts.
TPL Properties said it signed the MoU with Bahria Foundation, according to a communication received to Pakistan Stock Exchange (PSX) on Friday.
The company said that it had signed a MoU with Bahria Foundation, a trust established and existing under the Endowment Act, 1890 and engaged in industrial, commercial and development activities in Pakistan.
As per the MoU, Bahria Foundation shall collaborate with TPLP to utilize the expertise of TPLP to design, develop, construct and market real estate, including potential tourist beach resorts.
ISLAMABAD: Pakistan and Iran have reached an agreement and barter trade between the two countries will start in a month, a top official said on Thursday.
This was stated by the Commerce Secretary before the Standing Committee on Commerce of the Senate.
To the question of Senator Fida Mohammad, the Commerce Secretary apprised the Standing Committee on Commerce, which met here at Parliament House on Thursday under the Chairmanship of Senator Zeeshan Khanzada, that being on the grey list had not any negative concussion on Pakistan’s exports.
Due to the lack of banking channels with Iran, there exist some issues in trading with Tehran. The barter trade issue with Iran has been resolved, he informed.
An agreement has been reached with Iran regarding barter trade, he added further. He said that barter trade with Iran would start in a month.
Commerce Adviser, Razzaq Dawood briefed the Committee on GSP Plus status( Generalised Scheme of Preferences). He noted that Pakistan’s exports to Europe have reached 9 billion dollars.
The Commerce Adviser informed the committee that the European Union (EU) was assuaged with Pakistan’s implementation of the GSP Plus terms.
Pakistan had kowtowed with most of the 27 conventions. He underlined that Pakistan had already addressed issues like eradication of Child Labour, Freedom of Speech, Rights of journalists, Rights of Women, and others as per assigned indicators.
He asserted that the EU asked for expanding the range of exports to European markets but exports to the EU have not inflated as they should have because of weaknesses of our exporters.
While responding to a question asked by the Chairman Committee, Abdul Razzaq Dawood remarked that under GSP Plus, 66 per cent of Pakistan’s tariff lines were on zero duties. EU exports increased by 47 per cent, he said, adding that trade with the EU is in Pakistan’s interest.
For maximum participation of all members and inclusive discussion, the detailed deliberation on GSP plus status and briefing by the Pakistan Cotton Standards Institute (PCSI) were recessed for the next meeting.
The Commerce Adviser also lauded the role of the Senate Standing Committee on Commerce in passing the (Geographical Indications) GI Act.
Apart from Senator Fida Mohammad, Senator Saleem Mandviwala, the commerce Adviser Abdul Razzaq Dawood, Secretary Commerce, Additional Secretary Commerce, and officials from Pakistan Cotton Standards Institute attended the meeting.
ISLAMABAD: Prime Minister Imran Khan on Thursday launched the automation of power of attorney for overseas Pakistanis at a ceremony held at Prime Minister House.
The Prime Minister said that it was a historic day for overseas Pakistanis as the digitalization of Power of Attorney will facilitate around 75,000 overseas Pakistanis annually.
While stressing the need for digitalization, he said that technology helps in the simplification of procedures and the government was taking all possible measures for digitalization of various sectors.
The issuance of the Succession Certificate by NADRA was also a step in this direction. The Prime Minister added that Overseas Pakistanis were an asset to the country.
They were the largest source of foreign remittances and their services must be recognized. The Prime Minister stressed that Overseas Pakistanis needed to be facilitated by all possible means.
Foreign Minister Shah Mahmood Qureshi, Foreign Secretary Sohail Mahmood, and Chairman NADRA Muhammad Tariq Malik were also present.
The Foreign Minister, in his remarks on the occasion, congratulated the teams of the Ministry of Foreign Affairs as well as NADRA for making the project a success.
He highlighted that this project involved extensive legislative and technological work and was completed in a very short span of time.
Qureshi reiterated that the government attached utmost importance to the welfare of overseas Pakistanis under the guidance of the prime minister.
He stated that the welfare of the Pakistani community was one of the major functions of our Missions abroad along with economic diplomacy.
During the ceremony, an agreement was signed between the Ministry of Foreign Affairs and NADRA, under which NADRA will provide 24/7 uninterrupted online services for attestation of Power of Attorney.
Automation of attestation of Power of Attorney has been a longstanding demand of the Overseas Pakistanis and will facilitate those who have to travel long distances from different cities and far-off places to the Missions.
This automated system will reduce costs and minimize hassle by providing attestation services at the doorsteps.
The automation of Power of Attorney has been initially launched as a pilot project in ten Pakistan Missions/Sub-Missions in the United States and the United Kingdom and will be replicated shortly at all Pakistan Missions Abroad.
