ISLAMABAD: February 14 –
ISLAMABAD: February 14 –
The Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar presides over a meeting of the Economic Coordination Committee (ECC) of the Cabinet.
ISLAMABAD: February 14 –
ISLAMABAD: February 14 –
Players of Multan Sultans busy in warmup before the practice session for the upcoming PSL 9 at Multan Cricket Stadium.
MULTAN: February 14 –
APP38-140224
MULTAN: February 14 –
Governor Punjab meets overseas Pakistanis
LAHORE, Feb 14 (APP):Governor Punjab Muhammad Balighur Rehman has said that overseas Pakistani business community can play an important role in stabilizing the country’s economy by exporting agricultural products to European and other countries.
He expressed these views during a meeting with the overseas Pakistani business community delegation from UK, Europe, Muscat and Oman led by Chaudhry Khalid Mehmood Hanjara and Tafazul Hussain at the Governor House Lahore.
Governor Punjab Muhammad Balighur Rahman said that overseas Pakistanis are the asset of the country. He said that they are contributing to the country’s economy by sending remittances to Pakistan.
He said that overseas Pakistanis should play a robust role in increasing exports. The Governor further said that Pakistan offers conducive business environment to foreign investors, adding that the government through the Special Investment Facilitation Council has facilitated foreign investors to invest in agriculture and other sectors.
He said that the development of the country depends on the development of industry and foreign direct investment. The Governor Punjab expressed the hope that the newly elected government will bring economic stability in the country.
Sagheer Ahmad Bilal Abdul Rehman, Maqsood Ahmad Butt, Mian Khalid Javed, Chaudhry Naseer Ahmed and Dr. Naseer Ahmed and others were present on this occasion.
Young emerging players made part of Multan Sultan:Head Coach
MULTAN, Feb 14 (APP):Head Coach of Multan Sultan Abdul Rehman said that the team has a great combination of senior and young emerging players to dominate in the Pakistan Super League (PSL).
Talking to media persons before the practice session of the players at Multan Cricket Stadium here on Wednesday, Abdul Rehman said that before selecting the team it was the strategy to make a strong team having the ability to dominate in all parts of the game including bowling, batting, and fielding. He said that the domestic season’s top performers have been made part of the team. He said that the team has top players like Muhammad Rizwan, Yasir and Iftekhar.
He said that Ehsanullah was not in a position to play in the tournament but the team still had the top wicket taker of the previous season Abbas Afridi, top spin bowler Usama and Khushdil Shah and Iftekhar could also be used for bowling.
He said that young emerging players would perform well in the tournament with a combination of top national and international players.
He said that Yasir Ali was in very good form while emerging Aftab Ibraheem gave his best performance in the National T-20 cup and Shahzad from South Punjab had also played an aggressive innings in the domestic cricket.
To a question, Sultan’s Head Coach said that Multan Stadium pitch had always been a high score wicket and the spectators would enjoy tough competitions. He said that Multan Sultan gets five home-ground matches and hopefully, it would be increased in the next editions.
Cold wave continues gripping upper parts of country:PMD
ISLAMABAD, Feb 14 (APP):The cold wave will continue gripping the upper parts of the country during the next 24 hours, according to the Pakistan Meteorological Department (PMD) forecast.
According to the synoptic situation, continental air is prevailing over most parts of the country. Mainly cold and dry weather is expected in most parts of the country, while very cold in the upper parts.
During the last 24 hours, cold and dry weather prevailed over most parts of the country, while very cold in northern parts. The lowest minimum temperatures recorded were Leh -10 C, Skardu -07, Kalam -06, Gupis, Astore -05, Gilgit, Bagrote -04, Srinagar and Hunza -03C.
ECC for ensuring fertilizer price stability, approves uniform gas pricing
ISLAMABAD, Feb 14 (APP): The Economic Coordination Committee (ECC) of the Cabinet here on Wednesday directed the Ministry of Industries to ensure the stability of Urea prices in the market, the finance ministry said in a press statement.
The committee, the meeting of which was presided over by the Federal Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar, also directed the Competition Commission of Pakistan (CCP) to investigate the undue increase in urea price during the recent past and fix the responsibility.
According to a press statement, the committee was deliberating on the summary of the Petroleum Division regarding “Natural Gas Sale Pricing FY 2023-24 (Effective – 1st February 2024)”.
The committee decided that the revision of the sale price/ tariff should be consistent with the revenue requirements of the Sui companies and recommended uniform gas prices for fertilizer plants.
The committee approved the proposal of the Federal Board of Revenue (FBR) regarding the “Rationalization of Criterion of Enhanced Rate of 25% Sales Tax on Locally Manufactured/ Assembled Vehicles (PCT87.03)”.
The committee approved the proposal of signing a Share Subscription Agreement (SSA) between National Credit Guarantee Company Limited (NCGCL)”, Karandaz, and the Government of Pakistan through the Ministry of Finance.
Ministry of Commerce presented a summary regarding amendments in “SRO 760(I)/2013-Import and Export of Precious Metal Jewellery and Gemstones Order, 2013” and “Import Policy Order 2022- Serial No. 16 of Part II, Appendix-B”.
The Economic Coordination Committee agreed to the proposals in principle and directed that a committee comprising representatives of the Ministry of Commerce, Ministry of Law, FBR, and SECP formulate detailed proposals for this export-oriented policy reform targeting the opening up of the service sector.
The ECC also approved the summary of the Intelligence Bureau for “Provision of Additional Funds of Rs.125 Million during the Current Financial Year” to meet the increasing requirements of the Bureau vis-a-vis operations against terrorists and anti-state elements.
The summary of the Finance Division regarding “Approval of Technical Supplementary Grant for Provision of Rupee Cover for Remaining Funds amounting to Rs. 7,621,756,096/- of 1st Tranche of Credit Lines of US $85 Million obtained from the World Bank” was approved by ECC.
Among others, the meeting was attended by the Minister for Privatization and Inter-Provincial Coordination, Fawad Hasan Fawad; Minister for Interior, Commerce & Industries, Gohar Ejaz; Minister for Energy and Petroleum Division, Mohammad Ali; Minister for Planning, Development and Special Initiatives, Sami Saeed; Minister of Maritime Affairs, Communication and Railways, Shahid Ashraf Tarar; Deputy Chairman Planning Commission, Dr. Muhammad Jehanzaeb Khan; Advisor to PM on Finance, Dr Waqar Masood, federal aecretaries, and other senior government officers of the relevant ministries.
Business community hopes new govt to restore investors confidence
RAWALPINDI, Feb 14 (APP):Trade bodies of the city have expressed hope that the new government would restore the investors’ confidence and work for the improvement of the economy.
Talking to APP, President Moti Bazar Chaudhry Iqbal said that the expected coalition government would take immediate steps to solve the problems of the business community.
He said that Pakistan was facing many challenges on economic fronts including the IMF program while 40 percent of the population living below the poverty line and inflation had skyrocketed to more than 30 percent.
President Commercial Market Raja Tauheed hoped that the new government would consult with the stakeholders to formulate a medium and long-term economic plan and continuity of policies.
He said that the cost of doing business had increased manifold which needed to be addressed and the prices of electricity, gas, and petroleum products had to be reduced.
He urged the leaders of all political parties to take the business community on board after forming the government to move on the path of development and prosperity.
AJK President condoles loss of lives in Hajeera accident
MIRPUR-AJK, Feb 14 (APP):Azad Jammu & Kashmir President Barrister Sultan Mehmood Chaudhry has expressed his deep sorrow and grief over the loss of precious lives in a road accident near Hajeera in Azad Jammu and Kashmir on Wednesday.
The President expressed his condolences who lost their loved ones in the mishap and prayed for the speedy recovery of the injured. He also directed the district administration to provide all possible help and medical facilities to injured persons.
A passenger wagon with 33 passengers on board skidded off the road due to brake failure, leaving three people killed and 18 injured.
PML-N, PPP agree to forge alliance for democratic stability
ISLAMABAD, Feb 14 (APP):The Pakistan Muslim League Nawaz (PML-N) and the Pakistan People’s Party (PPP) representatives Wednesday discussed the current political situation and agreed that establishing a stable democratic government is the need of the hour in the country.
Senator Ishaq Dar, Sardar Ayaz Sadiq, Senator Azam Nazir Tarar, and Malik Muhammad Ahmed Khan represented the Pakistan Muslim League (N) at the meeting. The PPP was represented by Syed Murad Ali Shah, Qamar Zaman Kaira, Saeed Ghani, and other party leaders.
Highlighting the potential benefits, they stressed that such a government could address Pakistan’s economic, political, law and order, and terrorism challenges. Tackling issues like inflation, unemployment, and insecurity would ultimately free the populace from these burdens.
During the meeting, representatives from both parties presented their proposals. After thorough deliberation, they decided to reconvene on Thursday, with additional representatives from various provinces of the Muslim League (N) joining the session. Additionally, they resolved to finalize decisions after consulting with other politically aligned parties.
The representatives reached a consensus on expediting the government formation process. The proposals formulated through their consultation will be presented to the leadership. The final decision will be made by the leadership based on the committee’s recommendations
NA session may be summoned between Feb 22-29: Solangi
ISLAMABAD, Feb 14 (APP): Caretaker Minister for Information, Broadcasting and Parliamentary Affairs Murtaza Solangi on Wednesday said that the first session of the new National Assembly might be called on any date between February 22 and February 29.
As per the Constitution, the president could convene the National Assembly’s session within 21 days of the polling date, the minister said while explaining the post-elections procedure in a talk show of the Pakistan Television (PTV).
To a query, he said a simple majority was required to form a government and the president did not have any power to invite a person or a party for the formation of government.
After the 18th Constitutional Amendment, he said, the office of the president represented the Federation.
He said the Election Commission of Pakistan (ECP) was bound to issue official results within 14 days of the holding of the elections and the winning candidates were ought to submit the required documents to the electoral watchdog in attested form.
If the details were not submitted, the winning candidate would not be declared an official member of the National Assembly, he added.
He said that the Ministry of Parliamentary Affairs took up the matter of convening the session as soon as the National Assembly Secretariat received the official results from the ECP.
Immediately after the election of Speaker and Deputy Speaker, he said the Leader of the House would be elected.
To another query, he said secret balloting was followed in election of the Speaker and Deputy Speaker of the NA while for the election of the Leader of the House, the process was otherwise.
Maulana Fazlur Rehman was a seasoned politician and announced to be part of the Parliament, he responded to another question.
The minister said most of the political parties had expressed consensus on Shehbaz Sharif as prime minister for the second time. It would be the prerogative of next government to decide about the size of the Federal Cabinet, he noted.
Highlighting the measures taken against dollars smuggling by the caretaker government, he said the dollar was being sold for Rs 350 to 400 in the open market.
Economic stability was directly linked to political stability, he said while expressing the hope that the next government would continue the reforms process.