
HYDERABAD: October 09 –

HYDERABAD: October 09 – Students presenting a Naat during Exhibition of calligraphy at Government Collage University.
ISLAMABAD, Oct 09 (APP): Chairman Senate Standing Committee on Federal Education and Professional Training Senator Irfan-Ul-Haq Siddiqui on Monday categorically directed to revert all the teaching staff on deputation holding administrative assignments in Education Ministry to their parent departments with immediate effect.
The Senate Standing Committee on Federal Education and Professional Training which met here under the chairmanship of Senator Irfan-Ul-Haq Siddiqui here at Parliament House unanimously recommended sending all the employees back to their parent departments who were initially recruited as teachers and holding administrative posts at various ministries.
The committee debated that all such employees are politically powerful, blue-eyed individuals and does not like to render their services as teachers therefore manage to be posted on various administrative post through influence.
The committee observed that this practice is badly affecting the quality of education.
The Chairman Committee Senator Irfan Siddiqui concluded that all the teachers on deputation be sent back to their respective educational institutes immediately.
The caretaker Minister for Federal Education and Professional Training Madad Ali Sindhi agreed with this viewpoint and assured the committee that immediate action would take place on committee recommendations.
The committee also discussed at length the progress on extension of time and details of proceedings of the Ministerial Committee constituted under Dr Niaz Ahmed Vice Chancellor Quaid-e-Azam University for regularisation, of daily wagers teachers and increase in their salaries.
The minister said that the list of employees recommended by the FPSC will be issued appointment letters within this week.
Similarly, the matter regarding daily wagers will be discussed in the same committee to permanently resolve this long-standing issue and the report in this regard will be submitted to the committee by 13th Oct 2023.
The committee was told that since the salary of daily wagers is being enhanced as per committee recommendations from 25000/rps to 32000/rps per month, the case is under AGPRs consideration, on which the chairman committee directed the Director General FDE to make sure that the salaries are paid immediately at the previous rates and the enhanced amount may be paid once the budget is approved.
The chairman committee Senator Irfan Siddiqui asked the HEC officials to invite the representatives of affected daily wagers to have their viewpoints.
The committee also discussed in detail the report on re-initiating summary for the National Technology Council Act and Service Structure of technologist. The chairman committee strictly inquired as to why the act is pending before the ministry for 7 months.
It was stated by the HEC representative that the committee constituted to look into this matter has been officially notified as directed by the Senate Committee in its last meeting and sought time to finalise the recommendations.
It was also apprised that the act has been returned from the Cabinet Committee for Disposal of Legislative Cases (CCLC ) with certain observations. The committee chair directed to finalise report on the matter and submit within 15 days.
The meeting was attended by Senator Prof. Dr Mehr Taj Roghani, Fawzia Arshad, Engr Rukhsana Zuberi, Molvu Faiz Muhammad and Senator Falaz Naz.
The Caretaker Minister for Federal Education and Professional Training Madad Ali Sindhi and other senior officials of related departments were also in attendance.
ISLAMABAD, Oct 9 (APP): Pakistani Rupee on Monday witnessed the 23rd consecutive recovery session as it gained Rs1.03 against the US dollar in the interbank trading and closed at Rs281.65 against the previous day’s closing of Rs282.68.
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs278.75 and Rs281.5 respectively.
The price of the Euro decreased by Rs1.60 to close at Rs296.43 against the last day’s closing of Rs298.03, according to the State Bank of Pakistan (SBP).
The Japanese Yen went down by 01 paisa to close at Rs1.88, whereas a decrease of Rs1.78 was witnessed in the exchange rate of the British Pound, which traded at Rs342.95 as compared to the last closing of Rs344.73.
The exchange rates of the Emirates Dirham and the Saudi Riyal declined by 28 and 29 paisa to close at Rs76.68 and Rs75.08 respectively.
Despite macroeconomic challenges and slow progress of fiscal indicators, there is a glimmer of hope for improvement as the Pakistani rupee showcases remarkable resilience against the US dollar, which experts believe would have a positive impact on national economy.
On September 6, the caretaker government announced launching a massive crackdown against the elements involved in dollar smuggling, hoarding and organized crime cartels, causing loss to the national economy.
By adopting a ‘zero-tolerance’ stance towards the smuggling and hoarding, Pakistani rupee started gaining against the dollar and since September 5 it witnessed around Rs 25.44 appreciation and Rs281.65 in interbank trading during 23 consecutive recovery sessions, as of October 9.
Official sources told APP that strict action was being taken after the identification of facilitators and patrons of government officials indulged in illegal economic activities.
They said complete lists of the elements involved in illegal economic activities were ready; and accordingly, an extensive crackdown was underway.
The sources said the main reason to initiate and enforce administrative measures against hoarders, black marketers, and dollar smugglers were the constant devaluation of the rupee against the US dollar.
They said the government had ordered to take strict action against unauthorized money changers and other mafias operating in the country. “Major policy reforms are underway. Commodity/currency trading will be changed.”
Whereas, the sources said surveillance systems were being upgraded at land, sea and airports, adding “Illegal movement of goods and currency will not be allowed.”
On September 5, the rupee against the dollar in the interbank trading was at Rs 307.09 and by October 9 it came down to Rs 281.65, price of the Euro declined to Rs 296.43 from Rs 330.13, British Pound to Rs 342.95 from Rs 385.22, Emirate Dirham to Rs 76.68 from Rs 83.60 and Saudi Riyal to Rs 75.08 from Rs 81.87. Whereas the buying and selling of the dollar in the open market came down from Rs 320.8 to Rs 278.75 and Rs 324 to Rs 281.5 respectively.
Experts believe that all economic indicators would start moving in the right direction once the Pakistani currency got its real worth, strength and stability.
Minister for Finance Dr Shamshad Akhtar said the foreign exchange reserves position was stable, adding that Exchange Companies Reform and anti-smuggling operations did stabilize the rupee. “This stability came without any bank intervention.”
She said the measures being taken for the value of currency include strengthening the regulatory rules for exchange companies, along with the ongoing measures for smuggling and hoarding of foreign exchange because no country can allow playing with the currency.
Commerce Minister Dr Gohar Ejaz said one of the causes of depreciation of Pakistani currency was smuggling of transit goods from Afghanistan to Pakistan which had risen from $4 billion to $6.7 billion.
He said without any intervention by State Bank of Pakistan, the dollar went down to Rs 280 from Rs 330 due to government measures and crackdown on hundi-hawala set ups.
The appreciation of rupee was also acknowledged internationally as Bloomberg in a recent report said Pakistani currency was set to become the top performer globally in the last month (September).
“Many leakages were happening through illegal channels of hawala and hundi trade from the open market,” Khurram Schehzad, Chief Executive Officer of Alpha Beta Core Solutions Pvt. Ltd, a financial consultancy in Karachi told Bloomberg.
He said, “The dollar rate reverses everybody including hoarders, exporters who are holding their export proceeds, started selling their dollars.
Meanwhile, the State Bank of Pakistan (SBP) introduced structural reforms in the Exchange Companies’ sector as part of these reforms, following which leading banks remained actively engaged in foreign exchange business for establishing wholly owned Exchange Companies to cater to the legitimate foreign exchange needs of general public.
Talking to APP, General Secretary of the Exchange Companies Association of Pakistan (ECAP) Zafar Sultan Paracha confirmed that the crackdown against smugglers and hoarders of dollars had a “highly positive impact.”
He mentioned that exchange companies were depositing approximately $30-40 million to banks on a daily basis.
He pointed out that for the first time; the open market rates were lower than the interbank rates.
Muhammad Suhail, a noted economist observed that the winning streak of the rupee will depend on future economic fundamentals. “In the short run, we may see the PKR strengthening due to ongoing measures taken by the regulators for compliance with laws,” he added.