Category: National

  • Work on CPEC projects in full swing: Asad Umar

    Work on CPEC projects in full swing: Asad Umar

    ISLAMABAD: Asad Umar (Minister for Planning, Development, and Special Initiatives) on Friday said that work on projects under China Pakistan Economic Corridor (CPEC) are continued in full swing.

    He dispelled the impression of slowing down the pace of the CPEC projects saying that major work of the CPEC projects was completed during the Pakistan Tehreek-i-Insaaf (PTI) government.

    He said in first phase of CPEC, two major sectors- power and infrastructure, were under the main focus.
    “Power projects with an installed capacity of 3,340 MW were completed during the previous government while 5,864 MW of power projects were being completed during the current government’s tenure,” he said while addressing a press conference here.

    Apart from it, he started work on another 1824 MW project that had also been started recently that would be completed after the tenure of the current government.

    In the infrastructure and road sector, the minister informed that the PML-N government completed 394 kilometers long motorways and highways under CPEC while the current government had so far completed 413 km of the motorways and highways.

    Asad Umar said the PML-N government totally ignored the Western Corridor that was the heart of CPEC.

    He said the Gwdar-Hoshab road was completed by the previous government while the Hakla-Dera Ismail Khan motorway was initiated by the PML-N government who completed 42% of the project while the rest was completed by the current government.

    Apart from these two projects, the previous government could not reach even the initial approval stage of any of the road projects on the Western alignment, he added.

    The minister said the DI Khan-Zhob road (210 km) was approved and a loan application had been submitted while negotiations for the loan were in process.

    Similarly, the contractor for the Zhob-Queta project had been mobilized and PC-1 of the Quetta-Khuzdar road was approved while funding for this project had already been allocated in the Public Sector Development Programme (PSDP) 2021-22.

    He informed that the current government had completed 67% of the work of the 110 km Khuzda-Basima road while it would also complete the rest work soon.

    Likewise, the 146 km Hoshab-Awaran road project had also been approved and the contractor had been mobilized. The Hoshab-Awaran project is an integral part of the CPEC central alignment that connects the port city of Gwadar with Sindh.

    “In fact, real work on Western Corridor of CPEC was started during PTI government,” he said adding that it did not wait for the Chinese investment and started work on the projects with its own resources under PSDP.

    The minister informed the government was also starting work on the connecting roads to the Western Alignment.
    Peshawar-DI Khan Motorway project is one such project which has recently been approved.

    Similarly, the 460 km Karachi-Quetta-Chaman road has also been approved and one of the portions would be completed by the government itself while the other sections of this project would be constructed under Public-Private Partnership.

    Likewise, the government has also accorded approval to other such roads such as Nokundi-Mashkel road, Mashkel-Panjgur road, Awaran-Jhal Jhao road.

    The minister said these connecting roads and the Wester Alignment were being built to take maximum benefit of the opportunities to be open up in Afghanistan after peace and stability prevailed in the country.

    Asad Umar said after completion of the first phase, we were entering in the second but very important phase of CPEC under which investment would come to a range of sectors including industrialization, agriculture, livestock, science technology, and other social sector development sectors.

    He said when the current government took over, not a single Special Economic Zone (SEZ) under CPEC was operational but now two SEZs Allama Iqbal Industrial Zone in Faisalabad and Rashakai in Khyber Pakhtunkhwa were operational while another SEZ named Dhabeji would also be functional soon once the Sindh government has selected the contractor for the SEZ.

    Agriculture, he said was an important sector in which the Chinese had vast experience who would help Pakistan in strengthening the sector.

    So far eight important initiatives in the agriculture sector have been approved under CPEC under which the Chinese would help Pakistanis to develop the sector.

    He said the Chinese would help Pakistani farmers in increasing the per acre yield of the crops. Similarly, he said the Chinese would help in removing foot and mouth disease from the animals as this disease was the major hurdle in way of exporting Halal meat to the world.

  • Petrol price increased to all-time high at Rs123.30/liter

    Petrol price increased to all-time high at Rs123.30/liter

    ISLAMABAD: The price of motor spirit (petrol) has been increased to all-time high at Rs123.30 per liter and will take effect from September 16, 2021.

    The Finance Division on Wednesday issued the rates of petroleum products for the next fortnight. The government has increased the prices of all petroleum products for the next 15 days.

    The government has increased the prices owing to fluctuations in petroleum prices in the international market and exchange rate variation.

    Following are the rates of petroleum products, which will take effect from September 16, 2021:

    The rate of petrol has been increased by Rs5 to Rs123.30 per liter from Rs118.30.

    The rate of high-speed diesel has been increased by Rs5.01 to Rs120.04 per liter from Rs115.03.

    The rate of kerosene oil has been increased by Rs5.46 to Rs92.26 per liter from Rs86.80.

    The rate of light diesel oil has been increased by Rs5.92 to Rs90.69 from Rs84.77.

  • Gerry’s dnata awarded handling for Gulf Air in Pakistan

    Gerry’s dnata awarded handling for Gulf Air in Pakistan

    KARACHI: Gerry’s dnata, Pakistan’s leading ground services provider, has been awarded a multi-year contract by Gulf Air, the national carrier of the Kingdom of Bahrain.

    The partnership will see Gerry’s dnata provide quality and safe ground, passenger and cargo handling services to the airline at six airports in Pakistan, including Karachi, Lahore, Islamabad, Peshawar, Multan and Faisalabad.

    Syed Haris Raza, CEO of Gerry’s dnata, said: “We are proud to be the ground handler of choice for Gulf Air in Pakistan. We consistently invest in infrastructure, cutting-edge technologies and training to deliver the best possible services for our customers.

    “Our new contract is a vote of confidence in our quality offering, and a testament to our team’s hard work and commitment to safety and service excellence. We look forward to a long-standing partnership with the airline.”

    In recent years Gerry’s dnata has significantly invested in facilities, equipment, training and technology, while continually expanding its operations in Pakistan.  Gerry’s dnata’s investments include a state-of-the-art import cargo centre at Jinnah International Airport (KHI) in Karachi. The 72,000 square feet facility is equipped with the latest technologies ensuring safe and efficient handling and storage of all types of cargo. Offering uncompromised temperature-controlled handling and storage solutions to airline customers, the GDP-certified facility has played a key role in the safe handling of COVID-19 vaccines, rapid test kits and other essential goods.

    Gerry’s dnata also expanded its operations at Allama Iqbal International Airport in Lahore (LHE) and opened a new export cargo terminal. The expansion nearly tripled the company’s cargo handling capacity in Lahore, supporting customers and their customers in increasing fruit export from the region.

    The excellent quality of Gerry’s dnata’s services is underpinned by the constant growth of its customer base. Having won over 10 new contracts in the past 18 months, Gerry’s dnata now serves over 30 scheduled and unscheduled airline customers at seven Pakistani airports.

  • PM praises investment of Toyota Motors

    PM praises investment of Toyota Motors

    ISLAMABAD: Prime Minister Imran Khan on Wednesday praised Toyota Motors for investing $100 million for locally production of hybrid electric vehicles.

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  • PIA transports 5.9 million new batch of COVID vaccines

    PIA transports 5.9 million new batch of COVID vaccines

    BEIJING: Pakistan International Airlines (PIA), the national flag carrier of the country, has transported 5.9 million doses of COVID-19 vaccines through two special flights from China.

    The PIA through its two special cargo flights transported a new batch of 5.9 million doses of vaccines from Beijing Capital International Airport to Islamabad.

    Special cargo flights – PK6852 and PK6853 took off from Beijing Capital Airport for Islamabad on Monday and Tuesday and transported 5.9 million doses, Qadir Bux Sangi, PIA Country Manager for China told state media here on Tuesday.

    On August 29, the national flag carriers airlifted around 12 million doses of anti-Covid-19 vaccines through its four special cargo flights.

    The PIA special flights PK-6852, PK-6853, PK-6854 and PK-6856 transported 12 million doses of Sinovac vaccine procured from China for vaccination of people under government’s ongoing prevention and control drive against Covid-19 pandemic, he added.

    He said that under able leadership of its Chief Executive Officer, Arshad Malik, the national flag carrier has so far airlifted over 63 million doses of anti-Covid-19 vaccine through 49 special flights.

    It is worth mentioning that the government under its mass vaccination drive has set a target to vaccinate 75 million population by end of 2021.

    Chinese vaccines namely Sinopharm, Sinovac and CanSino besides other vaccines are being used in the mass vaccination drive.

    The health authorities launched the nationwide vaccination drive with around a million doses of Sinopharm vaccine donated by China, starting with older people and frontline healthcare workers, in March this year.

    The drive began with a focus on the oldest people in the community, generally over the age of 80 but now the vaccine is being administered to the people aged over 18 years.

    Islamabad received the first COVID-19 vaccine consignment after a military aircraft transported it from Beijing on February 01, this year.

  • Some obstacles challenging construction sector: PM

    Some obstacles challenging construction sector: PM

    ISLAMABAD: Prime Minister Imran Khan has said that the government has removed many barriers but some more obstacles were challenging the construction sector.

    Prime Minister Imran Khan attends the inaugural ceremony of the three-day ICCI Housing Property, Housing and Construction Expo 2021 on Friday, to continue facilitating the construction industry for creating wealth and boost the country’s exports.

    Minister of State for Information Farrukh Habib, Special Assistant to PM Dr. Shahbaz Gill, Chairman Naya Pakistan Housing and Development Authority Lt General (Retd) Anwar Ali Haider, President Islamabad Chamber of Commerce and Industry Sardar Yasir Ilyas also attended the event.

    The expo featured the pavilions of the commercial banks, Board of Investment, State Bank of Pakistan (SBP), companies, and businesses related to the construction industry, including real estate developers, marketing firms, cement, marble, tiles, electronics, cable, and many others.

    The educational institutes were also present there with aim of promoting the industry-academia linkage.

    The prime minister urged the business sector to ensure the availability of raw materials in the construction industry to reduce the import bill.

    He said introducing the housing finance facility by the government for the low-income group, that the country’s 220 million population would become an asset as the construction of houses would positively impact all allied industries.

    He further said that unfortunately, the previous governments never thought of the poor segment but the government had opened the avenue.

  • Turkey eases COVID restriction for Pak travelers

    Turkey eases COVID restriction for Pak travelers

    ISLAMABAD: Turkish Government has further eased quarantine regulations for Pakistani nationals intending to travel to Turkey.

    Announced on September 2, these regulations will become effective from September 4, says a press release received here on Friday Ankara.

    Irrespective of vaccination status, all passengers will submit a negative PCR test result that should be made at most 72 hours before their entry into Turkey.

    As per the new regulations, passengers arriving from Pakistan who will have documentary proof of COVID-19 vaccination will be exempted from quarantine.

    Such vaccination should be of two doses approved by the World Health Organization (except for Johnson & Johnson which is a single dose).

    Quarantine exemption will be applied to those vaccinated whose last dose was administered at least 14 days before their travel.

    Pakistani travelers who cannot provide proof of vaccination will be quarantined in their residences or addresses that they will declare, tourists will quarantine at their booked hotels.

    They will be PCR tested on the 10th day of the quarantine period and in case of a negative result, the quarantine application will be terminated.

    The persons who do not take a PCR test on the 10th day will be kept under quarantine for 14 days. In case the test results are positive, the case will be dealt with as per the guidelines of the Turkish Ministry of Health.

    Before the Turkish Government announced these revised regulations, the Pakistan Embassy was in constant touch with the relevant Turkish authorities, sharing the status of vaccination and measures in place in Pakistan for controlling the spread of COVID-19 infections.

    The Pakistan Missions in Turkey are available to assist our nationals to the best of our abilities. An English translation of the complete notification of the Ministry of Interior of the Turkish Republic is attached for reference.

  • Prices of all petroleum products reduced

    Prices of all petroleum products reduced

    ISLAMABAD: The federal government on Tuesday announced a reduction in prices of all petroleum products for next fortnight.

    A statement issued by the Finance Division the new reduced prices will take effect from September 01, 2021.

    According to the notification the price of petrol has been reduced by Rs1.50 to Rs118.30 per liter from Rs119.80.

    The price of high speed diesel (HSD) has been reduced by Rs1.50 to Rs115.03 per liter from Rs116.53.

    Similarly, the rate of kerosene oil has been reduced by Rs1.50 to Rs86.80 per liter from Rs88.30.

    The price of light diesel has been reduced by one rupee to Rs84.77 per liter from Rs85.77.

    The statement issued by the finance division said that despite international price fluctuation in petroleum products and anticipated increase in future prices, the government has reduced the price in order to provide maximum relief to the consumer.

    The government is firmly committed to ensure stability in prices of essential commodities and has sustained the price pressure in line with its commitment to the common man.

    It is pertinent to mention that petroleum levy is kept at minimum which is a clear reflection that the government is fully cognizant of the impact of fuel prices on the prices of basic items that affect people directly.

  • PIA airlifts 12 million doses of Sinovac vaccines

    PIA airlifts 12 million doses of Sinovac vaccines

    BIEJING: Pakistan International Airlines (PIA) on Sunday carried fresh batch of 12 million doses of Sinovac vaccines through special flights from Beijing, to Capital International Airport of Islamabad.

    The PIA airlifted the Sinovac vaccines obtained from China and brought it to Pakistan for the people under government’s ongoing prevention and control drive against Covid-19.

    The PIA Country Manager for China said, “PIA special flights PK-6852, PK-6853, PK-6854 and PK-6856 transported 12 million doses of Sinovac vaccine procured from China for vaccination of people under government’s ongoing prevention and control drive against Covid-19 pandemic.”

    He further said that under able leadership of its Chief Executive Officer, Arshad Malik, the national flag carrier had so far airlifted 57 million doses of anti-Covid-19 vaccine through 47 special flights.

    He added,“Till now, PIA has brought around 17 million doses of Sinopharm and 40 million doses of Sinovac and CanSino vaccines from China to Pakistan.”

    It is worth mentioning that the government under its mass vaccination drive has set a target to vaccinate 75 million population by end of 2021.

    So far, over 32 million vaccines have been administered with a maximum of 1.07 million doses in a day on August 02.

    Chinese vaccines namely Sinopharm, Sinovac and CanSino besides other vaccines are being used in the mass vaccination drive.

    The health authorities launched the nationwide vaccination drive with around a million doses of Sinopharm vaccine donated by China, starting with older people and frontline healthcare workers, in March this year.

  • PM launches house financing scheme for NRPs

    PM launches house financing scheme for NRPs

    KARACHI: State Bank of Pakistan (SBP) on Friday said that Prime Minister Imran has launched a new housing scheme to facilitate Non-Resident Pakistanis (NRPs) in buying houses for themselves and their families.

    The central bank in a statement said that the prime minister praised the efforts and hard work of the SBP and government agencies in crossing another impressive milestone of $2 billion in deposits in Roshan Digital Accounts (RDA) and developing an exclusive product, Roshan Apna Ghar, for Overseas Pakistanis’ investment in housing in Pakistan.

    He said that RDA has provided an excellent platform to overseas Pakistanis to digitally connect to Pakistan’s banking system and meet their financial services needs in Pakistan.

    The prime minister was addressing a gathering of Ministers, Presidents and CEOs of Banks, SBP officials and other distinguished guests at the launch of Roshan Apna Ghar – an initiative of SBP for overseas Pakistanis.

    The Prime Minister expressed optimism that Roshan Apna Ghar would facilitate overseas Pakistanis to buy a house for themselves and / or their families in Pakistan, which has been quite difficult for many of them due to host of manual procedures, mandatory physical visits to Pakistan with long stay to complete the process and the hassle of trips to many offices.

    He said that with the introduction of Roshan Apna Ghar, an end to end digital process right from submission of application to the bank to disbursement of funds by banks, overseas Pakistanis would find it much easier to buy a housing unit in Pakistan for themselves or their loved ones either through their own savings or bank financing.

    In his welcome address, Governor SBP, Dr. Reza Baqir thanked the Prime Minister for his vision and firm resolve to integrate the overseas Pakistani community with the country’s economy.

    Highlighting the performance of Roshan Digital Account, he said that RDA is now a very well established brand, which has so far connected over 215,000 expats with the country’s banking system and attracted over $2,050 million since its launch in September last year. He said it took about 8 months to cross the first major milestone of $1 billion whereas the next 1 billion were received in less than 4 months, which is indicative of the increasing momentum.   

    Introducing the new product, Dr. Baqir said that Roshan Apna Ghar is an initiative of SBP  for Non Resident Pakistanis (NRPs)to buy, build or renovate their homes in Pakistan through own investment or bank financing.

    Complete information on the initiative as well as directions on how to avail it are available at the SBP portal. Overseas Pakistanis will be able to complete their transaction completely remotely and digitally and their investment will be fully repatriable.

    He elaborated that financing is available in both conventional and Shariah compliant variants at attractive rates for a period of three to 25 years.

    Through the Roshan Apna Ghar initiative, overseas Pakistanis will also be able to obtain financing under the Mera Pakistan Mera Ghar scheme of the government as well that has been exclusively designed for those who do not already own a house and offers financing at economical rates starting from 3 percent. 

    Governor Baqir emphasized that SBP, with the support of all stakeholders, will continue to bring as much ease as possible for overseas Pakistanis.

    Speaking at the occasion, the Minister for Finance and Revenue, Shaukat Tarin, said that the innovation of Roshan Digital Account has proved to be a huge success and instrumental in receiving substantial investment of over $1.4 billion in Naya Pakistan Certificates.

    He lauded the introduction of Roshan Apna Ghar by State Bank and said that it is another splendid idea of SBP and will attract substantial investment in the real estate sectorby overseas Pakistanis.

    He went on to add that both NPCs and the Roshan Apna Ghar are here to achieve the greater goal of attracting investments by overseas Pakistanis, which are more sustainable and reliable.

    He said that Ministry of Finance with the help of State Bank will make every effort to introduce new avenues of investments for overseas Pakistanis.

    Under Roshan Apna Ghar, two types of financing facilities are being offered. First, Standard Financing in which both lien based and non-lien based financing is available.

    In lien-based financing, the NRPs can obtain house finance facility against lien on their RDA deposit balances or Naya Pakistan Certificates. Banks can finance up to 100 per cent of the property value for purchase or construction of a house; for renovation of house, financing is capped at 40 per cent of the property value.

    Non-lien based financing is the typical housing finance offered against mortgage of the property to be purchased; banks may fund up to 85% of the property value for purchase or construction of house, and up to 30% of the property value for renovation of house.

    Second, the house financing facility under Mera Paksitan Mera Ghar (Government Mark-up Subsidy Scheme) is also available for RDA holders under Roshan Apna Ghar product as per already defined criteria under respective tiers.

    In this case, the financing rates applicable to the Mera Pakistan Mera Ghar scheme would apply.Insurance of the property, up to the extent of financing amount, is also free.