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CPEC pivotal for development in Balochistan: PCJCCI

By
AHMD Raja
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0
CPEC
LAHORE, Mar 20 (APP):Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Moazzam Ghurki said on Wednesday that China Pakistan Economic Corridor (CPEC) would bring enormous opportunities to Balochistan and ensure modern development there.
Speaking in a think-tank session here at PCJCCI Secretariat, he added that the regional countries, especially Tajikistan and Uzbekistan, would use the corridor for exports and trade through Gwadar port.
PCJCCI Senior Vice President Fang Yulong said that the minerals and fishery sectors of Balochistan have immense potential and the federal government is taking serious steps to utilise it for the benefit of the people of Pakistan. He emphasised that Gwadar port and various projects under CPEC will change a lot for the people of Balochistan and the Government of Pakistan is especially focusing on road infrastructure, development of industrial and agriculture sector, provision of employment, and availability of basic facilities in Balochistan.
He added that there is a dire need to include transport, construction of basic infrastructure, provision of clean drinking water and its better utilization, agriculture and livestock, information technology, energy, industry and commerce, manpower and education and other schemes for the revolutionary development in such neglected province of Pakistan.
While the joint Chamber’s Vice President Hamza Khalid said that the new government is focusing on the social and economic uplift of Balochistan to bring it at par with other provinces of the country. Pakistan, Uzbekistan and China have agreed to allocate dedicated spaces in Gwadar and Tashkent for establishing warehouses to help each other in the transportation of goods to other countries in the region.
Salahuddin Hanif, Secretary General PCJCCI, said that CPEC is a source of new avenues of opportunities for Balochistan.
Balochistan with regards to its geographical location is pivotal for CPEC since Gwadar has a central position in the entire project. It is believed that the project will potentially contribute to the development of the whole province and is likely to address its interlinked economic and social problems.

Govt to welcome militants who join mainstream: CM Bugti

By
NNPS Desk
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0
Balochistan CM

QUETTA, Mar 20 (APP): Balochistan Chief Minister Mir Sarfraz Bugti said the militants leaving violence are welcomed on their return from darkness.

Government will extend its all-out support to those who shun violence and decide to join the mainstream.

He said this while addressing a seminar titled “Balochistan Youth State Harmony Summit” organized by the Balochistan University of Information Engineering and Management Sciences (BUITEMS) in collaboration with the Voice of Balochistan.

Member of Assembly Dr. Rubaba Khan Buledi, former militant commander Sarfraz Banglazai, Senior Journalist and Anchorperson Shahid Rind, Vice Chancellor BUIEMS Dr. Khalid Hafeez were also part of the panel.

Addressing the participants, the Chief Minister regretted the long-term incitement of animosity among the Balochistan youth. He emphasized the importance of separating perceptions from facts and stated, “Instead of telling the facts, anti-state elements tell anti-state stories on various issues and past events of the province.”

The only entity with the authority to use force against people who contest the legitimacy of the government is the state. He said that no one should be allowed to use force for pressing their demands since it is against religion, customs, culture, and society.

Appreciating former militant commander Sarfraz Bangulzai’s surrender, the chief minister noted that although he was on the wrong track, the state has welcomed him back into society. “Government will help every such individual who wants to join mainstream,”

About the impression of disgruntled Baloch, he said those who choose path of violence and taking the lives of innocent citizen are not the disgruntled Baloch, they are the militants. Those who complete education and don’t find jobs after parliamentarians and bureaucracy sell out jobs are the real disgruntled Baloch.

“There will be a gap between the state and the youth when jobs will be sold for money instead of merit, Mir Sarfraz Bugti said reiterating government resolve that no job will be sold in his tenure.

About the rights of the province, he said there will be no compromise on the rights of Balochistan. With firm stance but in polite way, the federal government will be asked to ensure rights of the province are protected.

There will be no deal and compromise on rights of the people of Balochistan in the closed rooms.

Stressing the need for creating awareness among youth, the CM Bugti said the militants are misleading our youth from Dubai and Singapore through social media.

“Ongoing war on terror is not fought between militants and the army; it is a war, we have to fight together. It is a war of our survival fought by our brave soldiers.

About faults within the system, he said “If we can’t give employment to the youth and if we can’t clean the city, then the fault is ours and not any Punjabi’s,

The CM deplored that 40 to 50 percent of development project go to the commission, reaffirming government pledge to adopt the path of sustainable development by discouraging and blocking the way of commission for good.
APP/ask.

USAID, CPDI launch HumAhang project for promoting dialogue in society

By
AHMD Raja
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0
USAID
Naeem Niazi
LAHORE, Mar 20 (APP):United States Agency for International Development (USAID) Mission Director Kate Somvongsiri has said that the HumAhang (In Harmony) project is focused on citizens’ engagement for bringing citizens and the government closer in an inclusive way and making them part of decision-making processes.
Speaking at the launch of HumAhang project at a local hotel here on Wednesday, she said the project was aimed at enhancing dialogue between citizens and government for better governance, adding the project envisages communities where voices of individuals including women, members of minority communities and persons with disabilities.
US Consul General in Lahore Kristin Hawkins, PILDAT’s Ahmed Bilal Mehboob, representatives from various government departments, civil society organisations, media, and youth from Punjab and Sindh attended the launch.
HumAhang, a five-year project, has been launched by the USAID and Centre for Peace and Development Initiatives (CPDI) for fostering peace-building and dialogue between citizens and the governments in the South Punjab and northern Sindh. It will be implemented by CPDI, Pakistan Institute of Legislative Development and Transparency (PILDAT), and Blumont Pakistan, and strengthen citizen-led initiatives and is hoped to effect lives of thousands of people in a positive way.
“I am delighted that the initiative is launched during the Women History Month, the US government celebrates achievement of women during the month of March every year, because purpose of this initiative is to involve diverse people like women, members of minority communities, and persons with disabilities.”
USAID Mission Director Kate Somvongsiri stressed that the United States government is committed to supporting initiatives that promote peace-building and inclusive communities, where the voices of individuals including women, are fully heard in decision-making processes.
She said it is essential that women’s voices are heard and included in decision-making processes that affect their lives. By promoting gender equality and by empowering women, Pakistan can create a more prosperous and equitable society for all its citizens.
Earlier, Mukhtar Ahmad Ali and Mohammad Azim Arshad outlined the objectives while Ahmed Bilal Mehboob hailed the USAID’s for its continued support to promote peace-building and social cohesion.

BankIslami’s Ehad Sukuk II listed on PSX with gong ceremony

By
Muhammad Ashraf Wani
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0

 

ISLAMABAD, Mar 20 (APP):The Pakistan Stock Exchange (PSX) organized a gong ceremony at the exchange on Wednesday to mark the listing of BankIslami Pakistan Limited’s Islamic financial instrument of Ehad Sukuk II, a fully paid up, rated, perpetual, unsecured, subordinated, non-cumulative and contingent convertible Mudaraba Sukuk.

The issue size was of PKR 1,000 million, out of which Sukuks of PKR 850 million (85% of issue size) were issued to the pre-IPO investors and Sukuks of PKR150 million (15% of issue size) were offered to the general public by way of Initial Public Offering, according to press statement issued by PSX.

The issue price or par value of each Sukuk isPKR 5,000, with an expected profit rate of 1 month KIBOR + 2.5% per annum to be paid out monthly. The instrument has a perpetual tenor. The purpose of the Issue was to raise capital towards the issuer’s Additional Tier I for Capital Adequacy Ratio as per guidelines set by the State Bank of Pakistan.

The Bankers to the issue (for the retail portion) were Meezan Bank Limited, United Bank Limited, and BankIslami Pakistan Limited. Designated Market Maker is JS Global Capital Limited and the Issue Agent is Pak Brunei Investment Company.

The public subscription for the instrument took place on February 20 – 21, 2024. The public subscription for the Sukuk was highly successful with the Sukuk being oversubscribed by 56.23%.

While the Sukuks offered to the general public were of PKR 150 million, the total amount received against the public subscription was PKR 234.345 million. The applications were received by the designated bankers to the issue with a significant number of applications being received via the PSX and CDC e-IPO system as well.

BankIslami Pakistan Limited President and CEO Mr. Rizwan Ata along with the Deputy CEO BankIslami, Imran Haleem Sheikh performed the opening bell ceremony amidst the presence of MD & CEO PSX, Farrukh H. Khan and senior management of BankIslami, PSX, JS Global Capital and Pak Brunei Investment Company, to mark the listing of BankIslami Ehad Sukuk II of PKR 1.0 billon on the bourse.

Welcoming the guests at the gong ceremony, Farrukh Khan said the listing of BankIslami Pakistan’s Ehad Sukuk II was a valuable addition to the portfolio of Islamic financial securities available at PSX for investors.

He said, the overwhelming response from investors for this Sukuk as depicted by the oversubscription by 56.23 percent speaks volumes about the investor appetite for such instruments.

He expressed confidence that this would add greater depth and volume in the market as well as increase the options available for investing in the Islamic financial market in Pakistan.

Speaking at the gong ceremony, President & CEO of BankIslami Pakistan Limited, Rizwan Ata said, this was the second fully listed Additional Tier 1 (ADT 1) Modaraba Sukuk issued by BankIslami to further strengthen the Bank’s capital.

Earlier in 2020, the Bank issued Pakistan’s first listed ADT 1 Sukuk of PKR 2 billion, he said adding this was the reaffirmation of BankIslami’s vision and commitment to promote global economic prosperity through the Islamic Financial System and to save humanity from Riba.

The impressive involvement of more than 500 investors in the Sukuk IPO demonstrates the market’s appetite to invest in such rated, fully listed, Shariah compliant instruments.

The Sukuk offers an attractive monthly profit to its investors, whereas JS Global Capital Ltd, as designated Market Maker provides necessary market liquidity for this listed instrument.

As subsidiary of JS Bank Ltd, BankIslami has become an integral part of JS Group which is one of the leading investment and financial services conglomerates in Pakistan, he added.

Pakistani expats take social media to express love for homeland on Pakistan Day

By
AHMD Raja
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0
Pakistan Day
ISLAMABAD, Mar 20 (APP):As Pakistan commemorates its historic Pakistan Day on March 23rd, Pakistani expatriates from around the world are utilizing social media platforms to express their love and pride for their homeland.
Through heartfelt messages, patriotic posts and nostalgic memories, the global Pakistani diaspora is reaffirming its strong connection to Pakistan and its enduring commitment to its prosperity and progress.
On X (twitter), the hashtag #PakistanDay is trending as expats share their sentiments and memories of their homeland. User @AliKhan786 tweets, “On this special Pakistan Day, my heart swells with pride as I remember the sacrifices of our ancestors. Pakistan will always hold a special place in my heart, no matter where I am in the world. #PakistanZindabad.”
Facebook is also witnessing a flurry of activity, with expatriate groups sharing photos, videos, and stories commemorating Pakistan Day.
In the “Pakistani Expats Worldwide” group, member Ayesha Ahmed shares, “Happy Pakistan Day to all my fellow Pakistanis! Even though we may be miles away, our love for Pakistan knows no bounds. Let’s continue to cherish and celebrate our beautiful homeland.”
Instagram is ablaze with images adorned with the colors of the Pakistani flag and captions expressing love and pride for Pakistan. Influencers, celebrities, and ordinary Pakistanis alike are coming together to showcase their patriotism.
Instagram user @SaraKhan shares a photo of herself holding a miniature Pakistani flag, captioned, “Today and every day, my heart beats for Pakistan. Happy Pakistan Day to all my fellow Pakistanis! Let’s continue to shine bright and make our country proud.”
From London to Dubai, from New York to Sydney, Pakistani expatriates are using the power of social media to unite and celebrate their shared identity on this significant day.
Their expressions of love and pride serve as a poignant reminder of the unbreakable bond they share with their homeland, transcending geographical distances and strengthening the global Pakistani community.
As the world witnesses the outpouring of affection and patriotism from Pakistani expats, one thing is clear: no matter where they may be, their hearts will always belong to Pakistan, and their commitment to its prosperity and progress remains unwavering.

PSX continues with bullish trend, gains 229 points

By
AHMD Raja
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0
PSX
ISLAMABAD, Mar 20 (APP):The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend for third consecutive day on Wednesday, gaining 229.20 points, a positive change of 0.34 percent, closing at 65,731.79 points against 65,502.60 points the previous trading day.
A total of 341,843,546 shares valuing Rs.11.844 billion were traded during the day as compared to 323,281,871 shares valuing Rs. 17.059 billion the last day.
Some 342 companies transacted their shares in the stock market; 173 of them recorded gains and 146 sustained losses, whereas the share prices of 23 remained unchanged.
The three top trading companies were Bank of Punjab XD with 45,010,786 shares at Rs.5.28 per share, WorldCall Telecom with 34,431,573 shares with 1.36 per share and The Organic Meat with 17,997,500 shares at Rs.28.97 per share.
Nestle Pakistan Limited witnessed a maximum increase of Rs.90.00 per share price, closing at Rs.7,510.00, whereas the runner-up was Philip Morris (Pakistan) Limited with a Rs.39.89 rise in its per share price to Rs.749.99.
Rafhan Maize Products Company Limited witnessed a maximum decrease of Rs.424.49 per share closing at Rs.8,575.01, followed by Siemens (Pakistan) Engineering with Rs.14.43 decline to close at Rs.582.01.

CM chairs meeting on ‘Apni Chhat, Apna Ghar’ project

By
AHMD Raja
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0
Maryam
LAHORE, Mar 20 (APP):Punjab Chief Minister Maryam Nawaz, during a meeting here on Wednesday, reviewed the ‘Apni Chhat, Apna Ghar’ project under which 100,000 housing units would be constructed for the low-income people.
The CM said that home is the basic need of every family, and ‘Apni Chhat, Apna Ghar’ project would fulfill the very basic need of low-income groups. She ordered to urgently complete the site selection process in six major cities of Punjab for the purpose. These cities include Lahore, Multan, Faisalabad, Sialkot, Sargodha and Rawalpindi.
The chief minister ordered for selecting sites keeping in view all basic amenities. If spaces available, construct these houses in city centres; otherwise choose the nearest places to ensure public convenience, adding that Apni Chhat, Apna Ghar project would be a landmark success, where people would get all the facilities to live happily.
The chief minister was briefed that the Board of Revenue has identified 117 sites  across Punjab,  which will be inspected and finalised immediately.
Senior Provincial Minister Marriyum Aurangzeb, Former Senator Pervaiz  Rashid, Provincial Information Minister Azma Zahid Bukhari, Chief Secretary, SMBR, Chairman Planning & Development, Secretaries Housing, Finance, Commissioner Lahore, DG Lahore Development Authority, DG Punjab Housing and Town Planning Agency (PHATA), Project Director Punjab Affordable Housing Programme and other senior officers attended the meeting.

Chicken, eggs prices reach at Rs 420 per kg, Rs 280 per dozen

By
AHMD Raja
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0
eggs
ISLAMABAD, Mar 20 (APP):The price of poultry chicken reached Rs 420 per kg and the price of poultry eggs reached Rs 280 per dozen in the open market in the twin cities of Islamabad and Rawalpindi.
The meat of the poultry chicken has reached Rs 700 to 710 per kg in the open market, according to the survey conducted by APP here on Wednesday.
The price of poultry chickens and eggs has been going above Rs 420 to 280 per kg and dozen for the past last months, which is getting away from the purchasing power of consumers day by day.
The prices of poultry items have increased by 20 percent in the twin cities during the last month after Ramazan began, which has created huge volatility in the market.
According to the market survey, during the last two months in the twin cities, a 24% increase was witnessed in the price of poultry chicken, while as same as 30 per cent increase in the price of poultry eggs in the same period.
Meanwhile, talking to APP, former Chairman of Pakistan Poultry Association (PPA), Dr  Sajjad Arshad said that the increase in the current prices of poultry was due to demand and supply factor.
He said that the increase in poultry business inputs and cost of doing business was seen across the country due to which the market was in crisis.
He said that many people related to the chicken business were affected by the current crisis, especially small businesses. A number of poultry farms were closed for suffering the business by the current economic crisis.
Sajjad said that the country’s economic conditions are also an important issue and the poultry feed ingredients imported from foreign countries are very expensive, in which soybean is important.
He said that many soybean ships have stopped at Karachi port, which has an inevitable impact on poultry prices.
Pakistan Poultry Association (PPA) has also called for a further increase in the prices of chicken and there was an increase observed in the prices of poultry items in the twin cities of Islamabad and Rawalpindi.

Women of Hindu community purchasing clothes for their upcoming religious festival Holi at cloth market.

By
Wajid
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0
APP27-200324 HYDERABAD: March 20 – Women of Hindu community purchasing clothes for their upcoming religious festival Holi at cloth market.
Women of Hindu community purchasing clothes for their upcoming religious festival Holi at cloth market.
APP27-200324
HYDERABAD: March 20 – 

Gold rates up by Rs.500 to Rs.227,800 per tola

By
AHMD Raja
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0
gold
ISLAMABAD, Mar 20 (APP):The per tola price of 24 karat gold witnessed an increase of Rs.500 and was sold at Rs.227,800 on Wednesday compared to its sale at Rs.227,300  on last trading day.
The price of 10 grams of 24 karat gold also increased by Rs.429 to Rs.195,302 from Rs. 194,873   whereas the price of 10 gram 22 karat gold went up to Rs.179,027 from Rs. 178,634, the All Sindh Sarafa Jewellers Association reported.
The price of per tola and ten gram silver remained constant at Rs.2,580 and Rs.2,211.93 respectively
The price of gold in the international market increased by $5 to $2,178 from $.2,173, the Association reported.
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