Category: National

  • DISCOs publish list of defaulters above Rs1 million

    DISCOs publish list of defaulters above Rs1 million

    ISLAMABAD: Power Distribution Companies (DISCOs) have published the list of defaulters above Rs 1 million on their website, said a statement on Tuesday.

    It said that on directions of Power Division, the lists of electricity dues defaulters above Rs1 million have been published on the websites of concerned DISCOs.

    An operation against these defaulters is also in full swing. Electricity connections of the running and dead/disconnected defaulters against whom more than Rs 1 million are outstanding in lieu of electricity charges their connections are being disconnected.

    All lists of these defaulters are also published on the website of Power Information Technology Company (PITC) and can be accessed at pitc.com.pk/index.php/defaulters-list.

  • Second phase of Pak-China FTA signed; two premiers witness signing ceremony

    Second phase of Pak-China FTA signed; two premiers witness signing ceremony

    ISLAMABAD: The second phase of Pakistan China Free Trade Agreement (FTA) signed on Sunday, which was witnessed by the premiers of both the countries.

    Prime Minister Imran Khan and Chinese Premier Li Keqiang witnessed the signing ceremony at a meeting on the conclusion of the 2nd Belt and Road Forum (BRF) in Beijing, a statement said.

    The list of MoUs/Agreements signed/exchanged on the occasion is as follows:

    i. Second Phase of China Pakistan Free Trade Agreement

    ii. Declaration for Completion of Preliminary Design of Phase-I for Up-gradation of ML-1 and Establishment of Havelian Dry Port under CPEC

    iii. MoU on Cooperation in the field of Marine Sciences between the China Geological Survey (CGS), Ministry of Natural Resources of China, the Institute of Oceanography, Ministry of Science and Technology.

    iv. MoU between CIDCA and Ministry of Planning, Development and Reform on Implementation of the Projects under JWG of CPEC on Socio-Economic Development.

    v. China-Pakistan Economic and Technical Cooperation Agreement

    vi. Rashakai SEZ Joint Venture and License Agreement between KPEZMDC and CRBC.

    The two prime ministers were accompanied by ministers and senior officials.

    Both leaders reaffirmed the time-tested and strong friendship between Pakistan and China and exchanged views on the myriad facets of bilateral engagement.

    The prime minister extended felicitations to the Chinese leadership on the successful holding of the 2nd Belt and Road Forum (BRF).

    Noting the depth and breadth of the Belt and Road Initiative (BRI), the Prime Minister said it was of immense significance for the world in terms of connectivity and shared prosperity.

    The two sides exchanged views on bilateral collaboration in the context of CPEC and prospects of further deepening economic linkages.

    Prime Minister Imran Khan underscored the importance of CPEC for Pakistan’s economy and noted with satisfaction its expansion into new areas of development – including industrial development; livelihood projects; social uplift; and agriculture in line with the priorities of government.

    He hoped that Chinese investment in Specialized Economic Zones (SEZs) would expand Pakistan’s industrial base and assist in diversifying its export basket.

    Underlining the steady growth of bilateral cooperation since the Prime Minister’s last visit to China in November 2018, Premier Li Keqiang expressed satisfaction at the positive momentum of CPEC projects.

    He hoped that the conclusion of the Second Phase of China-Pakistan Free Trade Agreement (FTA), would give further boost to trade and economic relations between the two countries.

    The two sides agreed to further deepen the political, security, economic, education, science & technology, cultural, and people-to-people relations.

    It was agreed to maintain the existing momentum of high level exchanges between the two countries.

    The two leaders also exchanged views on regional issues including peace efforts in Afghanistan and peace and stability in South Asia.

    They also agreed to closely coordinate in their endeavors.

  • Inflation increases by 17.15pc for higher income group

    Inflation increases by 17.15pc for higher income group

    KARACHI: The prices of essential items has increased by 17.15 percent for higher income group above Rs35,000, according to weekly Sensitive Price Indicator (SPI) issued by Pakistan Bureau of Statistics (PBS).

    The PBS said that the inflation of the income group above Rs35,000 was increased by 17.15 percent by week ended April 25, 2019 as compared with same week a year ago.

    The PBS computes the weekly SPI with base 2007-08=100 covering 17 urban centres and 53 essential items for all income groups/quintiles and combined.

    The PBS calculates SPI for income groups included Rs8,000; between Rs8,001 – Rs12,000; Rs12,001-Rs18,000; Rs18,001-Rs35,000; and above Rs35,000. The average inflation for all income group increased by 12.91 percent by week ended April 25, 2018 as compared with corresponding week last year. However, the average inflation increased by 0.37 percent over the previous week ended Aril 18, 2019.

    During the week under review as compared with previous week, around 20 items registered increase in their prices. Some of these items are included: tomatoes, onions, potatoes, egg hen, bananas, pulse moong, sugar, pulse mash, garlic, pulse gram, tea prepared, mutton etc.

    However, 10 items registered decline in their prices during the week, which included: chicken farm, LPG cylinder 11-kg, wheat, wheat flour, firewood, red chillie, cooking oil, vegetable ghee etc.

    Average prices of 22 items remained unchanged during the week under review.

    According to PBS the SPI was increasing for the last four consecutive weeks. The SPI is major component for headline inflation i.e. Consumer Price Index (CPI). The movement of SPI sets the monthly CPI.

  • Pakistan, Iran agree to boost monetary, financial, commercial activities

    Pakistan, Iran agree to boost monetary, financial, commercial activities

    ISLAMABAD: Pakistan and Iran have agreed to enhance economic cooperation through boosting monetary, financial and commercial activities to their full potential by utilizing all available options.

    The joint statement issued on Monday after the meeting of Pakistan Prime Minister Imran Khan and President of Iran Dr. Hassan Rouhani, the both sides considering the increase in volume of trade between the two countries in 2018, the President of Iran and Prime Minister of Pakistan instructed relevant institutions and Ministries to devise all required mechanisms for boosting monetary, financial and commercial activities to their full potential by utilizing all available options.

    The two sides also decided to hold the 21st round of the Joint Economic Commission (JEC)in the second half of 2019 in Pakistan to deliberate further on these issues.

    Prime Minister Imran Khan paid a high-level visit to the Islamic Republic of Iran from 21-22 April 2019, on the invitation Dr. Hassan Rouhani, the President of the Islamic Republic of Iran.

    There has been regular exchange of leadership level visits between the two sides in recent years.

    While emphasizing historical, cultural, religious and civilizational ties between the two neighboring and Muslim countries, and highlighting the commitment of the senior officials of the two countries to expand relations in all areas of mutual interest, the two sides reiterated the importance of deepening and reinforcing bilateral ties based on principles of national interest, territorial integrity and mutual respect for national sovereignty.

    They called for swift implementation of bilateral agreements as a step towards realizing this important goal. Both sides highlighted that common borders should be the borders of peace and friendship, and acknowledged the necessity of forging regular cooperation and exchange of views between political, military and security officials of the two countries to combat threats such as terrorism, smuggling of narcotics, human trafficking, hostage-taking, money-laundering and abduction. It was also agreed that the 10th Round of the Special Security Committee of the two Ministries of Interior will be held in Islamabad in June 2019 to discuss these matters in detail.

    It was also agreed that the next meeting of the Joint Consular Commission would be held on 2nd half of 2019 to review the progress made so far and chart the way forward in further facilitating the movement of people from both sides.

    Pakistan side welcomed the initiation of the process for release of a number of Pakistani prisoners by the Government of Iran, and for making arrangements for their expeditious repatriation to Pakistan.

    President of the Islamic Republic of Iran and Prime Minister of the Islamic Republic of Pakistan agreed that enhancing and cementing cooperation between Iran’s Sistan-Balochistan Province and Pakistan’s Balochistan Province including opening of new border crossings and border markets would contribute towards improvement of the economic situation of local residents, and further constitutes a step towards resolving border challenges and insecurities.

    Both sides agreed to hold the 2nd Round of High Border Commission in Islamabad in May 2019 to review the current status of preparations and further measures required for the earliest opening of new crossing points at Gabd-Reemdan and Mand-Pishin, besides opening of new border markets.

    Both sides highlighted the necessity of extending cooperation in energy sector including export of electricity from Iran to Pakistan.

    Pakistani side extended its appreciation to the Government of the Islamic Republic of Iran for continuing electricity exports to Pakistan’s Balochistan Province. Reaffirming the importance of strong and historic socio-cultural and linguistic affinities between the two countries and their peoples.

    Both sides reaffirmed the need to further strengthen these bonds through promotion of academic, cultural and tourism activities, particularly by encouraging more frequent exchange of visits of intellectuals, folk artists, cultural troupes and by enhancing tourism to the historic religious sites in both countries.

    Prime Minister Imran Khan reaffirmed the support and solidarity of the government and people of Pakistan with the people of Iran over loss of precious human lives and material damages due to recent severe floods in Iran.

    Prime Minister of Pakistan expressed the conviction that the people of Iran would handle this natural calamity with their characteristic resilience. Iranian side expressed its gratitude to Pakistan for sending humanitarian assistance to the flood affected people in Iran. Both sides welcomed the signing of a declaration for cooperation in health sector aimed at bilateral technical assistance and experience sharing with tangible outputs.

    Both sides discussed and exchanged views on major regional and international issues, and asserted that peace, tranquility and sustainable development are prerequisite for enhancing relations, integrity and synergy among the West Asian countries.

    Both sides reaffirmed their commitment to the UN Charter and international law, in particular the principles of sovereign equality of states, political independence and non-interference in the internal affairs of States.

    The two sides reiterated the need for all States to adhere to the rule of law including at the international level. In this context, they expressed serious concerns over unilateral application of measures by any country that are inconsistent with the provisions of international law and the principles of UN Charter.

    The President of Iran and Prime Minister of Pakistan, referring to the necessity of establishing a safe, stable and independent Afghanistan for the sake of regional peace and stability, acknowledged the necessity of holding Afghan-led and Afghan-owned peace dialogue while calling upon regional countries and the international community to work collectively to end conflict and restore complete peace in the country.

    Both sides also agreed to join efforts for achieving a broader regional consensus in this regard. While condemning terrorism in all its forms and manifestations, both sides acknowledged the great achievements of the two countries in combating terrorism and emphasized that efforts to develop regional and international cooperation in preventing and countering terrorism should be redoubled and the root-causes of all types of terrorism in the region identified and addressed.

    Considering the importance of developing connectivity and transit corridors in order to accelerate and facilitate bilateral and regional cooperation and trade, both sides welcomed the implementation of bilateral and multilateral agreements including the Belt and Road Initiative (BRI) and China-Pakistan Economic Corridor (CPEC), as well as agreements on establishing the North–South and East–West corridors in Iran.

    The President of Iran and Prime Minister of Pakistan welcomed all dimensions of cooperation of the two countries with other states, particularly the six-party Speakers’ Conference in Tehran with the purpose of consolidating cooperation among the regional states.

    Both sides highlighted the need to resolve the issue of Jammu & Kashmir through dialogue and peaceful means based on the will of the people of that region and in line with the resolutions of the United Nations Security Council.

    The President of Iran and Prime Minister of Pakistan emphasized that the right of the people of Palestine to establish an independent and sovereign Palestinian state should be respected as the key demand of the Muslim states.

    Both sides also agreed to reinforce endeavors through regional and international arrangements and mechanisms to help Palestinians establish an independent state.

    Both sides stressed on swift and complete implementation of the Joint Comprehensive Plan of Action (JCPOA) by other states considering the full compliance of the Islamic Republic of Iran to its provisions.

    The Prime Minister of Pakistan expressed his appreciation to the President of the Islamic Republic of Iran for the warm and generous hospitality extended to the Pakistani delegation, and officially invited Dr. Hassan Rouhani to visit Pakistan at the earliest convenience.

    President of Iran accepted the gracious invitation. Dates for the visit will be worked out through diplomatic channels.

  • Notification to appoint Hafeez Shaikh as finance advisor issued

    Notification to appoint Hafeez Shaikh as finance advisor issued

    ISLAMABAD: Prime Minister Imran Khan on Friday appointed Dr. Abdul Hafeez Shaikh as Advisor to the Prime Minister on Finance, Revenue and Economic Affairs with the status of federal minister with immediate effect, said a statement.

    The prime minister office issued notification in this regard.

    In order to take the charge of the portfolio, Dr. Hafeez Shaikh has reached Pakistan. Dr. Shaikh prepared roadmap for economic policies.

    Sources said that adviser would soon to meet Prime Minister Imran Khan. The new finance incharge wanted independence on economic policy framework.

  • Dr. Hafeez Shaikh entrusted for finance charge in major cabinet reshuffle

    Dr. Hafeez Shaikh entrusted for finance charge in major cabinet reshuffle

    ISLAMABAD: Dr. Hafeez Shaikh has been appointed as Advisor to Prime Minister on Finance following resignation of Asad Umar from the slot of finance minister.

    Asad Umar has resigned amid controversies on economic and policy decisions. Interestingly, Dr. Hafeez Shaikh, the nominated advisor to prime minister, was the finance minister during last tenure of Pakistan Peoples Party and he had also resigned in 2013, and the PPP government assigned Saleem Mandviwala for the post.

    Dr Abdul Hafeez Shaikh is an internationally renowned economist with more than 30 years of experience in economic policy making, management and implementation.

    Dr Shaikh has undergraduate and postgraduate degrees in economics from Boston University. He had worked at Harvard University and World Bank, where he was country head for Saudi Arabia and as a Senior Official advised 21 countries in Asia, Africa, Europe and Latin America.

    He served as the finance minister from 2010 to 2013 during the PPP government’s rule.

    During his tenure as federal minister, Dr Shaikh completed 34 sale transactions worth Rs300 billion in banking, telecom, electricity and manufacturing.

    In 2000-2002, he was minister of finance, planning and development of Sindh.

    He was then appointed as the minister for privatization and investment in the Pervez Musharraf administration.

    The government on Thursday announced major reshuffle in the federal cabinet and appointed Dr Abdul Hafeez Sheikh as Advisor on Finance and Senator Azam Swati as Minister for Parliamentary Affairs, besides re-allocation of some ministers’ portfolios.

    The PM Office issued relocation of ministries and advisories, revealing that Chaudhry Fawad Hussain has been made the Federal Minister for Science and Technology followed by Ghulam Sarwar (Federal Minister for Aviation); Ijaz Ahmed Shah (Federal Minister for Interior); and Shehryar Afridi (Minister of State for States and Frontier Regions).

    Federal Minister for Privatization Mohammad Mian Soomro would cease to hold additional portfolio of Aviation Division.

    Those who have been appointed as Special Assistants to the Prime Minister include:-

    Dr Zafar Ullah Mirza (National Health Services, Regulation and Coordination); Dr Firdous Ashiq Awan (Information and Broadcasting Division); and Nadeem Babar (Petroleum Division).

  • AGP asked to conduct special audit of DRAP

    AGP asked to conduct special audit of DRAP

    ISLAMABAD: Auditor General of Pakistan (AGP) has been asked to conduct special audit of Drug Regulatory Authority of Pakistan (DRAP) for past five fiscal years.

    On the directives of Aamer Mehmood Kiani, Federal Minister for National Health Services, the health ministry had written a letter to AGP and requested to conduct the special audit of DRAP for the fiscal years 2012-2013 to 2017-2018, a statement said on Saturday.

    According to letter DRAP was established through DRAP Act promulgated on November 13, 2012.

    The Authority is mandated to regulate Allopathic, Homoeopathic, Unani and Herbal drugs, medical devices, medicated cosmetics etc.

    In view of its role that has a direct impact on the health and wellbeing of the people, the authority remains a subject of public scrutiny.

    DRAP receives continued media attention alleging irregularities and malpractices regarding diverse areas being dealt by the authority as per its mandate.

    It goes without saying that transparency and efficiency in functioning of the organization is of critical importance to meet the targets and ensure sustained availability of quality medicines to the masses.

    In view of the foregoing, to further instill public confidence in the authority, it is requested to conduct a Special Audit of DRAP for the period 2012-2013 to-date of the Pricing Mechanism to ascertain whether prices of drugs are determined justly, in accordance with the laid down policy and as per law.

  • IMF assistance only option for economy: Shaikh Rasheed

    IMF assistance only option for economy: Shaikh Rasheed

    KARACHI: Sheikh Rasheed Ahmed, Federal Minister for Railways on Saturday said the economy is facing immense difficulties.

    “We are stuck in a lot of crises and it is a well-known fact that IMF conditions will be really stiff. I, as Minister, have been reiterating this since day one that we have no other option but to approach the IMF for assistance,” he said while addressing business community at Karachi Chamber of Commerce and Industry (KCCI).

    He also said that there will be no economic stability without the political stability.

    Highlighting the improved performance of Pakistan Railways (PR), the Minister said that PR has earned Rs4 billion more as compared to the earnings during the same period of previous year. “We have also provided three more container trains to the business community and the number of freight trains during Imran Khan’s has enhanced from just 8 to 14,” he added.

    He said that a total of 24 new trains have been initiated so far in which five categories have been defined for different types of passengers while the occupancy of Rehman Baba Train has reached 160 percent with improved earnings.

    “We have also initiated Jinnah Express and Green Line which will be followed by Sir Syed Express with a target to attract all five types of customers and our overall strategies have been very successful.”

    Referring to 1760km long ML-1 project from Karachi to Peshawar, the Minister said that in this regard, Prime Minister Imran Khan will be signing the agreement on 27th April 2019 which would result in laying of completely new double track from Karachi to Peshawar with fencing on both sides and a minimum speed of 160Kms. Work on this project will be completed in the next five years, he added.

    Commenting on Karachi Circular Railway Project, the Minister committed that as soon as the Sindh government signs agreement, approves the design and feasibility, Pakistan Railway will remove all encroachments, of which many of the commercial encroachments have already been removed, and hand over the track to Sindh government but the Sindh government has to work in this regard.

    “If KCR is not completed during our tenure, it will never be completed”, he opined, adding that it was a really essential project which has become part of CPEC now and the Gwadar port which is capable of docking 190 ships each day.

    Responding to a suggestion, he invited the business community to undertake joint venture for setting up setting up the proposed parking plaza on PR land at II Chundrigar Road but Pakistan Railways must continue to get its share regardless of whether the parking plaza becomes successful or not.

    Speaking on the occasion, Chairman Businessmen Group & Former President KCCI Siraj Kassam Teli, while referring to Imran Khan’s last year’s visit on July 22 to Karachi to meet the business community just a couple of days before the general election, requested the Sheikh Rasheed to ask PM Imran Khan to honor all his commitments including his commitment to visit KCCI.

    He said, “during the said meeting, we suggested to remove all those individuals who are involved in wrongdoings and corruption. We cautioned that the corrupt bureaucracy will not allow Imran Khan to take remedial measures but these elements have to be pinpointed and sidelined while the honest officers must be brought forward at the helm of the affairs.”

    “However, except a few nominal changes done recently, no major change was witnessed in the FBR, NAB and FIA and the same old corrupt elements were given freehand, allowed to continue their wrongdoings and asked to make corrections”, he added.

    Referring to a letter sent to Prime Minister Imran Khan, Siraj Teli said that the Private Sector’s representatives, who work on the Boards of Public Sector Companies such as Karachi Port Trust (KPT), Pakistan International Airlines (PIA) and Civil Aviation Authority (CAA) etc., take/ endorse decisions purely on the basis of whatever information is provided to them at the Board Meeting of any particular Public Sector company and that information may not be correct or may be incomplete.

    “However, after a number of years when FIA or NAB find anything wrong in these public sector companies, they immediately start pursuing private sector representatives who have got nothing to do with day-to-day activities of the public sector companies yet they are accused and undergo extensive investigation and frequent summoning by NAB or FIA”, he added.

    He asked Sheikh Rasheed to request the Prime Minister to look into this matter and give immunity to representatives of private sector from such investigations. They should not even be contacted until and unless there is a solid proof of their direct involvement or they being beneficiaries. The Karachi Chamber will never support anyone who is found guilty of any misconduct”, he said, adding that the business community was really worried and fed up due to constant harassment by NAB, FIA and FBR which is not acceptable to at all.

    Commenting on the forthcoming Amnesty Scheme, Siraj Teli said that the previous amnesty was better but this amnesty scheme would become a failure due to lack of trust as those individuals who declared their assets in the previous amnesty scheme, were constantly being pursued and harassed by FBR, FIA and NAB. “Amnesty without protection and without dealing with the trust deficit would lead to failure”, he added.

    President KCCI Junaid Esmail Makda, in his welcome address, stated that Karachi was one of the world’s most populous city and one of the mega cities. Lamentably, it may be the only city of this size that doesn’t have a mass transit transport system now when surprisingly, it did have Karachi Circular Railway (KCR) in the past.

    He said that Karachi produces about 30 percent of the manufactured good, handles 95 percent of foreign trade and contributes more than 70 percent to the national revenue yet it remains deprived of basic facilities including KCR.

  • CPEC to open new vistas of opportunities for entire region: Imran Khan

    CPEC to open new vistas of opportunities for entire region: Imran Khan

    ISLAMABAD: Prime Minister Imran Khan on Thursday said that China-Pakistan Economic Corridor (CPEC) project will open new vistas of opportunities for the entire region.

    The prime minister said that the government accords top priority to the CPEC project.

    He said: “The project will not only help in translating all weather Pak-China relations into mutually beneficial economic equation but will also open new vistas of opportunities for the entire region.”

    The prime minister was meeting with representatives of 15 leading Chinese companies working on various CPEC and other projects in Pakistan.

    The Chinese delegation included representatives from Power China, Three Gorges Corporation, CMEC Neelum Jhelum Power Plant Project, Cr-Norinco Orange Line Project, Huawei, Zong, Port Qasim Power Plant, China Gezhouba Corporation, China State Construction, China Harbour, Matiari-Lahore Transmission Line Project, Haier and other companies.

    Chinese Ambassador to Pakistan Yao Jing accompanies the delegation. Omar Ayub Khan, Minister for Power, Makhdoom Khusro Bakhtiar, Minister for Planning, Haroon Sharif, Chairman BOI, Nadeem Babar, Chairman Energy Task Force and other senior officials were also present.

    Talking to the Chinese delegation, the prime minister said that the government will provide all possible facilitation to the Chinese companies in undertaking profitable business ventures and taking advantage of business friendly policies of the present government.

    Chinese Ambassador while conveying greetings from Chinese President and Premier, said that Chinese leadership is looking forward to the visit of Prime Minister to China.

    He thanked the prime minister on behalf of Chinese leadership and business community for his personal interest in facilitating Chinese businessmen and addressing their issues.

    He assured the prime minister that Chinese companies will continue to partner with the government in socio-economic development of Pakistan.

  • GlaxoSmithkline’s drugs seized for illegal price increase

    GlaxoSmithkline’s drugs seized for illegal price increase

    ISLAMABAD: Federal Minster Aamer Mehmood Kiani and Chief Executive Officer (CEO) Drug Regulatory Authority of Pakistan (DRAP) Asim Rauf visited UDL distribution along with area Federal Inspector of Drugs.

    “Stock of GlaxoSmithkline was seized on unauthorized increase in the price,” said a statement on Thursday.

    In continuation of the crackdown against companies for unauthorized increase in the prices of their medicines, DRAP has been directed to take strict action by Federal Minister of Health.

    Across the country, inspectors of DRAP are involved in active surveillance.

    Various medicines were seized in Lahore, Karachi, Islamabad, Faisalabad and Peshawar.

    Stock of overpriced medicine seized in Faisalabad from IBL distribution. Around 39 medicines with unauthorized increase in pricing were seized from various pharmacies in Lahore.

    Karachi’s MM traders raided by Federal Inspector of Drugs. Huge stock of overpriced medicine seized. Action against unauthorized increase in prices of medicines:

    DRAP seized stocks from various medical stores in Peshawar.

    Balouch enterprises raided in Multan: seizure of stock of overpriced medicine.

    Federal Minister said that legal action will be taken against those involved in unauthorized increase in prices of medicine.

    He added that reduction in prices of 395 prices was notified and strict compliance of the companies shall be ensured.

    The crackdown will continue against those companies who are not selling medicine on approved prices.