HYDERABAD: January 17 –
Caretaker Sindh Information Minister Ahmed Shah addressing during inauguration ceremony of late Mirza Abid Abbas Memorial Library at Government City College.
HYDERABAD: January 17 –
PSX stays bearish, loses 170 points
ISLAMABAD, Jan 17 (APP):The 100-index of Pakistan Stock Exchange (PSX) continued with bearish trend on Wednesday, losing 170.13 points, a negative change of 0.27 percent, closing at 63,567.34 points against 63,737.46 points the previous trading day.
A total of 421,331,988 shares valuing Rs.18.579 billion were traded during the day as compared to 407,543,943 shares valuing Rs.12.646 billion the last day.
Some 332 companies transacted their shares in the stock market; 111 of them recorded gains and 203 sustained losses, whereas the share prices of 18 remained unchanged.
The three top-trading companies were PTCL with 45,978,785 shares at Rs.14.02 per share, K-Electric Limited with 41,567,872 shares at Rs.5.59 per share and Treet Corporation with 36,390,498 shares at Rs.20.05 per share.
Philip Morris (Pakistan) Limited witnessed a maximum increase of Rs.51.24 per share price, closing at Rs.734.50, whereas the runner-up was Bata Pakistan Limited with a Rs.33.00 rise in its per share price to Rs.1,733.00.
Rafhan Maize Products Company witnessed a maximum decrease of Rs.401.50 per share closing at Rs.8,801.00, followed by Pak Suzuki Motor Company Limited with Rs.53.74 decline to close at Rs.662.77.
China calls on Pakistan, Iran to exercise restraint
BEIJING, Jan 17 (APP): China on Wednesday called on Pakistan and Iran to exercise restraint in the wake of violation of the former’s airspace by the latter.
“We call on both sides to exercise restraint, avoid actions that would lead to an escalation of tension and work together to maintain peace and stability,” Chinese Foreign Ministry Spokesperson Mao Ning said during her regular briefing.
“We consider both Pakistan and Iran as close neighbours and major Islamic countries,” she added.
Mao Ning said, “China believes that the relations between countries should be handled based on the basic norms governing international relations underpinned by the purposes and principles of the UN Charter and international law, and all countries’ sovereignty, independence and territorial integrity should be earnestly respected and protected.”
SAPM Sohrab meets Qatari Labour Minister, discuss safe immigration
ISLAMABAD, Jan 17 (APP):Special Assistant to the Prime Minister (SAPM) on Overseas Pakistani and Human Resource Development, Jawad Sohrab Malik, commenced his inaugural official visit to Qatar with a pivotal meeting with Dr Ali bin Samikh Al Marri, the Minister of Labour in Qatar.
During the meeting, SAPM, Jawad Sohrab Malik provided an overview of the Government of Pakistan’s ongoing efforts and initiatives aimed at enhancing labour skills to align with and meet the demand and standards of the Qatari labour market and received a press release here on Wednesday.
The discussion underscored the commitment of both leaders to encourage as well as enhance the safe and legal migration of the Pakistani workforce to Qatar.
SAPM, Jawad Sohrab Malik and Qatar’s Labor Minister, Dr. Ali bin Samikh Al Marri pledged to foster a collaborative environment that supports the secure and lawful movement of Pakistani workers to contribute to Qatar’s dynamic labour market.
The leaders affirmed their commitment to ensuring the welfare and prosperity of the Pakistani workforce in Qatar. Both leaders also discussed the opening of more Qatar Visa Centers (QVCs) in Pakistan for ease of the Pakistani migrant workforce.
As part of the official visit, SAPM Malik is scheduled to engage with Qatari conglomerates to explore and sign agreements aimed at providing and enhancing employment opportunities for the Pakistani workforce.
These agreements are expected to contribute significantly to the mutual economic growth and cooperation between Pakistan and Qatar.
Muhemmed Aejaz, Pakistan’s Ambassador in Qatar and Community Welfare Attachés (CWAs) also accompanied SAPM in the meeting.
The visit of the SAPM to Qatar intends to strengthen ties, enhance collaboration and create more opportunities for the Pakistani workforce in the State of Qatar.
KP govt’s interim ban on e-cigar hailed
PESHAWAR, Jan 17 (APP): Blue Veins and the Provincial Alliance for Tobacco and Nicotine Control Khyber Pakhtunkhwa (PATNC KP) have expressed profound gratitude to the Khyber Pakhtunkhwa Government for implementing an interim ban of 60 days under Section 144 on the storage, sale and use of e-cigarettes in the province.
According to the notification issued by the Home and Tribal Affairs Department, all Deputy Commissioners were directed to impose a complete ban on the sale of e-cigarettes and vapes to individuals below the age of 21 years across Khyber Pakhtunkhwa and its sale and storage within a 50-meter radius of all educational institutions in Khyber Pakhtunkhwa.
Violators of these orders should face legal consequences under Section 188 of the Pakistan Penal Code (PPC).
This decisive action follows a series of meetings conducted by the Provincial Alliance for Sustainable Tobacco Control, Blue Veins and KPTCC with key figures such as Governor Khyber Pakhtunkhwa Haji Ghulam Ali, Chief Secretary KP and Special Secretary Home and Tribal Affairs KP and others.
These meetings focused on the dangers of e-cigarettes and vapes and examining global legislative and policy practices regarding their sale and storage.
In response to the World Health Organization’s call for action and in the interest of public health, civil society organizations commend the proactive approach of the Governor and Chief Secretary of Khyber Pakhtunkhwa. This ban is a critical step in safeguarding citizens from the harmful effects of vapes and e-cigarettes, which include respiratory issues, nicotine addiction and potential long-term health risks.
Recent momentum and media visibility around the hazards of newer nicotine and tobacco products in Khyber Pakhtunkhwa have underscored the need for policy and legislative reform at both provincial and federal levels. Currently, there is a lack of policy and legislative framework to regulate the sale of electronic cigarettes and vapes.
Civil Society Activist Qamar Naseem, Key advocate for tobacco and nicotine control in Khyber Pakhtunkhwa, stated, “This interim ban is a commendable step by the KP Government, reflecting its proactive approach to public health. However, we must solidify this progress through comprehensive provincial legislation to ensure a permanent solution to this growing health concern.”
Sana Ahmad, Coordinator of the Child Rights Movement (CRM)KP, expressed her appreciation, saying, “This ban is a significant victory for the health and well-being of our children and youth. It prevents easy access to addictive substances and protects our future generations from the allure of harmful vaping products.”
Dr. Qazi Shahbaz, President of the Provincial Doctors Association, also lauded the efforts, commenting, “We, the healthcare providers, appreciate the Governor and Chief Secretary of Khyber Pakhtunkhwa for this decisive ban. It’s a step forward in the right direction, and we now urge the government to enact comprehensive legislation for a complete ban. This is not just a win for public health but a strong message that the health and safety of our citizens, especially our youth, are of paramount importance.”
The collective efforts of various organizations and the government in addressing the hazards of e-cigarettes and vapes mark a significant milestone in public health advocacy. This interim ban is a testament to the commitment of the Khyber Pakhtunkhwa Government to prioritize the health and safety of its citizens, aligning with global health standards and responding effectively to emerging health risks.
Excise dept recovers over Rs 1.61b taxes in Multan division
MULTAN, Jan 17 (APP):Excise department recovered over Rs 1.61 billion taxes against Rs 2.94 billion set target for fiscal year 2023-24 across the Multan division during first six months of the current fiscal year which is 55 per cent of the total target.
According to official sources of excise department, the teams were conducting raids for the recovery of taxes across the division as over Rs 830 million property tax was recovered, over Rs 260 million registration fee, over Rs 360 million token tax, Rs 130 million DVRS, Rs 500 million professional tax and Rs 3.3 million luxury tax house, over Rs 240 million cotton fee and over Rs 150 million tax on abutting highways was recovered during December 31,2024.
Director Excise Rana Intekhab Ahmad while talking to APP here on Wednesday said that the government’s rebate offer has been ended on property tax and added that tax was being collected with one percent fine every month.
He said that a general hold-up was being conducted by the teams for recovery of token tax and registration of non-registered vehicles at various places on a daily basis.
He urged the citizens to pay their taxes timely and get their non registered vehicles registered as early as possible to avert any inconvenience.
Anti-encroachment operation conducted at Tank
DERA ISMAIL KHAN, Jan 17 (APP):The district administration Tank on Wednesday conducted an anti-encroachment operation and demolished several illegally-erected structures in Dabbara bazaar and Manzai Camp.
According to the district administration, the anti-encroachment team led by Assistant Commissioner Amin Ullah removed encroachments at several places on main Tank Wana Road, Dabbara amid tight security by police to ensure smooth flow of traffic in the bazaar.
Further, the operation was halted on request of the area’s residents, who pledged to remove all encroachments within three days voluntarily.
The Assistant Commissioner warned that strict action would be taken against shopkeepers, in future, if they were found again encroaching upon footpaths in front of their shops.
Later, the AC also visited the Manzai Camp and issued strict instructions to the people not to encroach upon the government owned land. He said that legal action would be taken against those who violated the directive.
Effective measures afoot to overcome loadshedding: Pesco’ official
DERA ISMAIL KHAN, Jan 17 (APP):Additional Chief Peshawar Electric Supply Company(PESCO), Sardar Islam Khan Gandapur has said that effective measures are being made to overcome the issue of power load shedding.
In this regard, he said all revelant departments had been taken on board to resolve the issue on urgent basis, but non-payment of bills and the theft were among the main reasons that undermined such efforts.
He expressed these views while talking to media persons at Dera Press Club.
Thus, he urged people to pay monthly bills regularly to get a smooth power supply.
He said that a drive had been launched to eliminate power theft and recover outstanding dues and these efforts were yielding concrete results, he added.
He mentioned certain feeders where recovery was in progress were being specified in a bid to make them loadshedding free.
He said that company was cognizant of the consumers’ difficulties, but currently a forced load shedding was necessary to stabilize the system which needed a renovation as well.
Sardar Islam Khan reassured that although load shedding was increasing, good news for the public was imminent, and efforts would be made to reduce the duration of load shedding.
He urged people to approach his office for any complaints or issues related to WAPDA, promising immediate action.
Punjab Green wheels program to provide E-bikes and E-rickshaws
ISLAMABAD, Jan 17 (APP):Caretaker provincial minister for transport of Punjab Ibrahim Hasan Murad on Wednesday marked a pivotal moment in Punjab’s history by integrating 26,000 electric vehicles into its urban fabric.
Talking to a private news channel, he said the initiative caters to students, low-income citizens, women, and people with disabilities.
Through this program, the government has decided to give the university students 10,000 electric bikes on a subsidy, he added.
The major announcements were interest-free e-bikes for women, three-wheeler bikes for the disabled and also interest-free e-rickshaws for deserving people.
Recognizing the pressing need to combat pollution, the Punjab government’s program addresses the root cause by targeting the 70–80% pollution contribution from the transportation sector, he added.
He said, “Punjab’s commitment to sustainable transportation is not just a step forward; it’s a leap into a greener, cleaner future.”
The minister said that another historic milestone was achieved with the issuance of electric vehicle (EV) licenses for the first time in Pakistan.
This move not only encourages the adoption of eco-friendly modes of transportation but also positions the country at the forefront of embracing innovative solutions for a cleaner environment, he added.
He said that five major cities, including Lahore, Rawalpindi, Faisalabad, Multan, and Bahawalpur, were designated as EV models.
In response to a query regarding the charging stations, he said the comprehensive plan encompasses infrastructure development for charging stations, ensuring that the transition to electric vehicles is supported by a robust network.
Specifically, battery charging stations will be strategically placed to facilitate the widespread adoption of EVs, he added.
He said the successful implementation of the program is made possible through a strategic partnership with the Bank of Punjab.
Dr Amjad Saqib’s vision of ending global poverty earns int’l acclamation
ISLAMABAD, Jan 17 (APP): Dr. Amjad Saqib has emerged as a unique symbol of hope and innovation in the realm of combating global poverty. As a pioneering advocate for microfinance, Dr. Saqib and his friends have been at the forefront of a transformative movement that seeks to empower individuals, families, and communities by providing them with the financial tools they need to break the chains of poverty.
Dr. Saqib has been recently appointed as the chairperson of the Benazir Income Support Programme (BISP), which is a 1.5 billion dollars annual federal unconditional and conditional cash transfer poverty reduction programme in Pakistan, the global praise was showered on Dr Saqib in an article published in the Independent UK, a British online newspaper.
Microfinance, as championed by Dr. Saqib, is not merely a financial strategy but a powerful tool for social change. It involves providing small loans, which are free of interest or mark up, often to those who are seeking support in operational costs but lacking access to traditional banking services, allowing them to start or expand small businesses, invest in education, and improve their overall quality of life. The impact of microfinance is not limited to economic upliftment alone. It is a catalyst for positive change that reverberates through entire communities.
Dr. Amjad elucidated,” Philanthropy and microfinance are powerful tools in our battle against poverty. We aim to empower people so that they can break the vicious cycle and reinvent their lives. However, this is done through a mutual support system.”
Dr. Amjad Saqib left a lucrative career in the Pakistan Administrative Services to serve the underprivileged of Pakistan. Dr. Amjad leads by example. He is the founder and Chairman of Akhuwat, the world’s largest interest free microfinance institution. Since its inception in 2001 with a modest $100 seed fund, Akhuwat has disbursed a staggering $1 billion as interest-free loans, transforming the lives of over 6 million families across Pakistan.
At the heart of Dr. Saqib’s and his comrades’ vision is the belief that poverty can be eradicated by enabling individuals to become self-sufficient. Through his groundbreaking work with the Akhuwat Foundation, a non-profit organisation he established in 2001, Dr. Saqib has demonstrated the profound impact of microfinance on the lives of millions. Akhuwat operates on the principle of interest-free microfinance, ensuring that financial assistance is not accompanied by the burdensome weight of exorbitant interest.
Dr. Saqib added, “One of the key strengths of microfinance is its ability to reach those who are traditionally excluded from formal financial systems. In many developing countries, a significant portion of the population lacks access to banks and financial institutions, leaving them trapped in a cycle of poverty. Microfinance breaks down these barriers.” He explained how it offers a lifeline to the underserved and marginalized, often empowering women who, in turn, become agents of change within their communities.
His contributions to uplifting the world’s most vulnerable people have earned him global accolades, such as the prestigious Ramon Magsaysay Award in 2021 (also known as the Asia’s Nobel Prize equivalent), the 2018 Islamic Economy Award, and a Nobel Peace Prize nomination in 2022 and the Global Man of the Decade award in 2023. He has also been recognised by the World Economic Forum, the Schwab Foundation, and the late Queen Elizabeth II through the ‘Points of Light’ award.
Dr. Saqib’s and Akhuwat’s approach goes beyond financial transactions; it is a holistic model that considers the social and cultural context of the communities it serves. By fostering a sense of community and shared responsibility, microfinance programs create networks of support that extend beyond financial assistance. This approach not only ensures the success of individual entrepreneurs but also contributes to the development and resilience of entire communities.
The success stories emerging from Dr. Saqib’s microfinance initiatives are inspiring and diverse. From small-scale agricultural ventures lifting rural communities out of poverty to urban enterprises empowering women to break gender norms, the impact is profound and far-reaching. These success stories underscore the potential for microfinance to be a powerful tool in the global fight against poverty provided that it does not burden the poor with high interest.
As the world grapples with complex challenges, from economic inequality to the aftermath of the global health crises, the importance of innovative interest free solutions like microfinance becomes increasingly apparent. Dr. Amjad Saqib’s vision offers a roadmap for a more equitable and sustainable future, where individuals are not just beneficiaries of aid but active participants in their own upliftment.