HYDERABAD: September 21 –
People purchasing ice from roadside vendor at Jamshoro area.
HYDERABAD: September 21 –
Regional Director, International Finance Corporation (IFC) for the Middle East, Pakistan and Afghanistan, Khawaja Aftab Ahmed called on Caretaker Minister for Planning Development & Special Initiatives Muhammad Sami
ISLAMABAD: September 21 –
Former Senator and Federal Minister Muhammad Ali Durrani called on President Dr. Arif Alvi at Aiwan-e-Sadr.
ISLAMABAD: September 21 –
Japan keen to develop trade ties with Pakistan: Ambassador Mitsuhiro
SIALKOT, Sep 21 (APP):Ambassador of Japan to Pakistan Mitsuhiro Wada has said that his country is keen to boost trade ties and enhance trade volume with Pakistan.
He said this while addressing a meeting of Sialkot exporters held at Sialkot Chamber of Commerce and Industry (SCCI) here on Thursday.
The meeting was attended by SCCI President Abdul Ghafoor Malik, Senior Vice President (SVP) Wahub Jahangir, Vice President Amer Majeed Sheikh, and delegations of various leading firms from Japan and Sialkot business community.
The Japanese ambassador stressed the need for making all-out sincere efforts to strengthen mutual trade ties between Pakistan and Japan. He said that Sialkot is famous for its production of soccer balls and others. The ambassador said that both nations had been supportive to each other and last year the two countries celebrated the 70th anniversary of establishment of diplomatic relations.
He said that potential of Pakistan economy was huge and his country was interested in finding more opportunities. He said that 80 Japanese companies were doing business in Pakistan and 80,000 workers were working in these companies in Pakistan. He said that there were so many international competitive companies working in Sialkot. He said that famous prestigious companies including trading companies and logistic companies present here in the meeting have very strong business network globally.
The ambassador said that his visit would promote new ways of cooperation between two countries. He also showed keen interest in SCCI’s documentary “Sialkot, the City of Progressive People”, which was screened during this meeting.
SCCI President Abdul Ghafoor Malik said that today’s visit of the ambassador was also significant as it was the first visit of a Japanese envoy to the Sialkot Chamber after 2016. He said that Japan and Pakistan enjoyed a special bond of friendship starting from the establishment of diplomatic ties in 1952. He said that Sialkot, the export industrial excellence of Pakistan, was playing a vital role in economic uplift of the country through its industrial produce that is exported to all parts of the world.
The SCCI president said that top cricket and hockey brands hail from Sialkot and the city produces sports goods, surgical instruments, textile apparel, and leather goods for top brands of the world. The city could be termed the “House of Brands” and is open to trade with the top in business. Malik said that there are countless points of connection and cooperation but trading partnership should underpin our shared cooperation. “I am pleased to mention that Japan is one of the largest trading partners of Pakistan with our bilateral trade standing at $1.23 billion with Pakistan’s exports of goods and services at $260 million.”
He said that several government level trade engagements over the recent years reflect the future planning of the two countries to support sustainable trade. We wish to learn from Japanese expertise and technical strength to shape our future industrial setup. “We look forward to partner with organizations like JICA, and PJBF to support business-to-business linkages between the two countries,” he added.
He said that Sialkot Chamber is a strong advocate of women empowerment to promote women’s sense of rights and enhance women’s economic empowerment through entrepreneurship and leadership skills. In this regard, Sialkot Chamber has established a Women Resource Centre and supported the formation of the Women Chamber of Commerce & Industry Sialkot which is functioning independently to support women- based businesses.
Caretaker Prime Minister Anwaar-ul-Haq Kakar addressed a high level dialogue on Financing for Development.
NEW YORK: September 21 –
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NEW YORK: September 21 –
Caretaker Federal Minister for Interior Sarfraz Ahmed Bugti in a meeting with Chinese State Councillor and Minister for Public Security Wang Xiao Hong in Lianyungang, China.
CHINA: September 21 –
CHINA: September 21 –
Inefficient SOEs inflict Rs500 bln loss to national kitty in 2022: Finance Minister
ISLAMABAD, Sep 21 (APP):Owing to inefficiencies and mismanagement, the deficient State-Owned Enterprises (SOEs) incurred overall losses of around Rs500 billion to the national exchequer during last year (2022), Caretaker Federal Minister for Finance, Revenue, Economic Affairs, Dr Shamshad Akhtar said on Thursday.
Addressing a press conference, the minister said there were also profit-making enterprises, which earned an aggregate profit of Rs330 billion out of which Rs185 billion was made by oil and gas companies.
In past, the minister said, the governments had established a range of SOEs with good objectives and these promoted economic development besides providing essential public services. She said, these enterprises spanned over energy, telecommunications, transportation, trade, marketing and financial sector.
However, she added, these entities suffered due to lack of autonomy, external interference, weak management, limited accountability, inappropriate boards, which she said resulted in financial losses and decline in quality of services. “There has been massive drain in public resources.”
However, the minister added, when privatized, the banking industry was one of the biggest success stories in Pakistan which transformed from loss-making to profitable.
Shamshad Akhtar said the overall performance of SOEs was not very healthy what she called “contrary to the expectations” adding that some of these were marred by inefficiencies and mismanagement.
Elaborating upon the SOEs, she said that therewere both non-commercial as well as commercial organizations included in it. She said 85 commercial SOEs could pay dividends and some of them could be profitable and some were already earning profits. Out of these, she said 20 enterprises were in power sector, 17 in infrastructure and 14 in mineral, manufacturing and mining.
She also shared list of top ten profit-earning and loss-making organizations of fiscal year 2020. Among the profit-earning companies Oil and Gas Development Company Limited made profit of Rs100.08 billion, followed by Pakistan Petroleum Limited with Rs49.4 billion, National Bank of Pakistan with Rs30.6 billion, Government Holdings (Private) Limited with Rs29.8 billion, National Power Parks Management with Rs28 billion, Port Qasim Authority with Rs15.4 billion, National Transmission and Despatch Company with Rs9.3 billion, Pak Kuwait Investment Company (Private) Limited with Rs.6.3 billion, Faisalabad Electric Supply Company Limited with Rs.6.08 billion and Pakistan Agricultural Storage and Services Corporation Limited with 6.02 billion.
Among the loss-making entities, Quetta Electric Supply Company incurred loss of Rs108.5 billion, followed by National Highway Authority with loss of Rs.94.3 billion, Pakistan Railways with 50.2 billion, Sukkur Electric Power Company with Rs40.8 billion, Pakistan International Airlines Rs36.07 billion, SSGCL Rs21.4 billion, Pakistan Steel Mills Rs20.6 billion, HESCO Rs.17.7 billion, Pakistan State Oil Company 14.8 billion and Peshawar Electric Supply Company 14.6 billion
The minister said the government was in process of reviewing State-Owned Enterprises Policy which would be finalized after incorporating comments of stakeholders. She said the aim of the new policy would be capacity building of SOEs adding that a data hub has also been established to monitoring performance of these SoEs.
To a question about privatization of these entities, she said Federal Ministry of Privatization has important role to go through the process and Ministry of Finance had only advisory role.
Govt to address financial, and administrative issues of all universities: Governor
PESHAWAR, Sep 20 (APP):The 15th session of the Senate of Abdul Wali Khan University Mardan was held at the Governor House in Peshawar on Thursday under the leadership of Governor Khyber Pakhtunkhwa, Haji Ghulam Ali.
The meeting was attended by key figures, including the Minister for Education, Muhammad Qasim Jan, Vice-Chancellor Professor Dr. Zahoor-ul-Haq, Additional Secretary Education Department, Javed Iqbal, and Muhammad Ayaz Khan Additional Secretary Establishment, among others. Representatives from the Higher Education Commission and other Senate members were also present.
During the session, the minutes of the university’s previous meeting were approved unanimously. The meeting also saw the approval of the university’s draft statutes, which covered various aspects, including the university’s powers and authorities, disciplinary rules, ministerial staff, faculty members, administrative officers’ appointments, and pay scales, among others.
Senate members engaged in detailed discussions regarding certain objections raised by some members regarding the promotion process of ministerial staff from Grade 1 to 16.
They also discussed appointments, promotions, and pension procedures for TTS and regular faculty members.
Vice Chancellor emphasized that the university’s statutes, under the supervision of the Higher Education Department and the Establishment Department, were drafted with the aim of improving the university’s administrative and educational standards. The Senate’s approval of these statutes marked a significant step toward achieving this goal.
Governor Haji Ghulam Ali, addressing the gathering, stressed the importance of collaboration and learning from each other’s perspectives to achieve betterment in any organization.
He mentioned his efforts to address financial and administrative issues in all universities during his 10-month tenure and expressed the hope that higher education institutions would emerge from their challenges.
Governor also urged universities to encourage employees to register complaints related to their performance, and those complaints should be forwarded to the relevant employees.
He emphasized the importance of seeking students’ feedback and addressing any complaints related to lectures or the performance of staff members.
He believed that this practice would enhance the overall functionality of the university.
Regarding pension issues in universities, he suggested that all universities collaborate with insurance companies to establish a better system for pension contributions. This would not only benefit retired employees but also provide financial assistance in cases of illness or death during service, ultimately reducing the burden on universities.
Governor Haji Ghulam Ali highlighted his efforts, along with the cooperation of Provincial Minister for Education, Muhammad Qasim Jan, and his team, to navigate universities through crises and improve educational standards.
The meeting concluded with a commitment to work together for the betterment of the educational landscape in the region.
Meanwhile, various delegations from different districts of the province also met with the Governor during separate meetings, discussing issues related to education, healthcare, electricity, and other essential needs, seeking his support for their resolution.
FMs of Pakistan, Egypt agree to boost bilateral engagement in diverse fields
NEW YORK, Sep 21 (APP): Foreign Minister Jalil Abbas Jilani and his Egyptian counterpart Sameh Shoukry met in New York and reviewed the current status of bilateral relations.
The meeting was held on the sidelines of the 78th session of the United Nations General Assembly.
Both sides agreed to further enhance bilateral engagement and cooperation between the two friendly countries, the Foreign Office said.
Special Assistant to Prime Minister on Human Rights & Women Empowerment Ms. Mushaal Hussein Mullick talking to media persons after participating in Mehfil-e-Milad-un-Nabi (PBUH) at Government College Women University Faisalabad (GCWUF)
FAISALABAD: September 21 –
FAISALABAD: September 21 – Special Assistant to Prime Minister on Human Rights & Women Empowerment Ms. Mushaal Hussein Mullick attending Mehfil-e-Milad-un-Nabi (PBUH) at Government College Women University Faisalabad (GCWUF).
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FAISALABAD: September 21 – Students reciting Naat during Mehfil-e-Milad-un-Nabi (PBUH) at Government College Women University Faisalabad (GCWUF).