Pakistan, China hold 12th JCC Special Meeting in Beijing
BEIJING Jul 11 (APP):The meeting of 12th (Special) Joint Cooperation Committee (JCC) of the China-Pakistan Economic Corridor (CPEC) was held here on Tuesday.
Federal Minister for Planning, Development & Special Initiatives, Prof. Ahsan Iqbal and Vice Chairman, National Development & Reform Commission (NDRC), China Mr, Cong Liang co-chaired the meeting.
Senior officials and representatives of various Ministries and departments dealing with CPEC matters from both sides were also present.
In his remarks, the Minister noted that CPECÂ is a remarkable endeavour that symbolizes the deep-rooted ties between China and Pakistan.
He recalled that this monumental project, initiated under the visionary leadership of President Xi and then Prime Minister of Pakistan, Nawaz Sharif, had been instrumental in transforming the economic landscape of the region. It has fostered connectivity, enhanced trade, and opened up new avenues for shared prosperity.
The Minister emphasized that CPEC is the topmost national priority of the Pakistan-China All-Weather Strategic Cooperative Partnership and these avenues provided an opportunity to consolidate successes and further enhance potential future cooperation.
He also noted that while numerous milestones had already been achieved, there was a massive potential for expanding and developing in agriculture, industry, technology, and mining sectors.
He also conveyed the deep appreciation of Prime Minister Shahbaz Sharif for the hard work of the JCC and reiterated the Government of Pakistan’s commitment to provide consistent policies and a conducive environment for Chinese companies and citizens working in Pakistan.
During the meeting, the conveners of the Joint Working Groups (JWGs) on Energy, Transport Infrastructure, and Gwadar Port made presentations highlighting the progress in their specific areas and informed about the future plans of action.
The JCC also highlighted the significance of the key projects for energy and infrastructure development; which are now operational and providing a myriad of opportunities for socio-economic development in Pakistan.
Saudi Arabia deposits $2bln with SBP
ISLAMABAD, Jul 11 (APP): Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar said here on Tuesday that the brotherly country Saudi Arabia has deposited $2 billion with State Bank of Pakistan (SBP), increasing the total foreign exchange reserves to around $11.7 billion.
“Our brotherly country Saudi Arabia had made an announcement recently that it would deposit its $2 billion with State Bank of Pakistan. They have placed the deposits and the amount has been credited to SBP,” the minister said at a press conference.
He said, this would be a straight away increase in the country’s foreign exchange reserves that stood at around $9.7 billion on last Friday he said, however added the new position of exchange reserves would be reflected from coming Friday.
The Minister on behalf of Prime Minister, Muhammad Shehbaz Sharif, Chief of Army Staff, Asim Munir, and the nation thanked Saudi Leadership particularly King Salman, Crown Prince Muhammad Bin Salman for this support.
He said Saudi Arabia has been playing role of a brother for Pakistan and stands with it at every occasion.
The minister said that some more good developments would follow and lead the economy towards growth, adding that the economy of the country has already been stabilized with the efforts of the incumbent government.
It is pertinent to mention here that on Monday the Fitch Ratings has upgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC’ from ‘CCC, indicating a positive development towards the betterment of the country’s economy
Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar in a tweet said it was another positive development towards current economic revival journey.
The rating agency has identified key indicators that contributed to the positive development rating for the country which include improvement in easing external financing risks.
The upgrade in ratings reflects Pakistan’s improved external liquidity and funding conditions following its Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) on a nine-month Stand-by Arrangement (SBA) in June.
PM stresses ending disparity of resources among population
ISLAMABAD, Jul 11 (APP): Prime Minister Shehbaz Sharif on Tuesday urged the stakeholders to invest in empowering communities by building their capacity through better health and educational facilities and ensuring an enabling environment to unlock their potential.
In his message on the World Population Day being globally marked today, the moment draws the attention to the vast disparity between the requirements of increasing population and availability of resources.
Also, he said, it highlights the need for affirmative policy actions to empower our communities and the people.
PM Sharif said population remains at the heart of effective national planning.
He said for developing countries in particular, managing population growth is key to socio-economic development.
He said no country, howsoever resourceful, can deal with population explosion.
“Thus drawing a balance between population and resources is fundamental to the fulfilment of the needs of teeming millions,” he said.
This year’s theme ‘Unleashing the power of gender equality’ is a powerful reminder of the imperative to empower our women, girls and men and end discrimination.
“Their mainstreaming in the national life will automatically help in achieving the development goals and increasing human productivity,” he said.
The prime minister said gender equality was not just a human rights issue, but also an economic requirement.
“The idea of balanced development is grounded in the empowerment of communities, who are enabled in not only fulfilling their aspirations of a meaningful life but also becoming a shareholder in the process of development of their societies,” he said.
He mentioned the significance of the multifarious factors such as climate change, geostrategic upheavals and dysfunction of markets, the countries are finding it hard to stay on course for achieving Millennium Development Goals.
Add to this mix the issue of gender inequality and discrimination and humanity gets farther from Sustainable Development Goals, he said.
The prime minister said the concept of development was not abstract but rooted in the welfare of the people.
“Hence all the more reason to invest in effective communication between the policy makers and the people at large for better outcomes,” he said. “We need to demonstrate greater political will to deal with the challenge.”
NBP Exchange Rates
KARACHI, Jul 11 (APP):Treasury Management Division of
National Bank of Pakistan (NBP) on Tuesday issued the following
exchange rates.
CURRENCY SYMBOL TT Selling TT Buying
U.S DOLLAR USD 280.25 279.75
EURO EUR 309.35 308.79
JAPANESE YEN JPY 1.9913 1.9878
BRITISH POUND GBP 360.92 360.28
SWISS FRANC CHF 316.95 316.38
CANADIAN DOLLAR CAD 211.29 210.92
AUSTRALIAN DOLAR AUD 187.46 187.13
SWEDISH KRONA SEK 26.22 26.17
NORWEGIAN KRONE NOK 26.82 26.77
DANISH KRONE DKK 41.44 41.36
NEWZEALAND DOLLAR NZD 174.28 173.97
SINGAPORE DOLLAR SGD 208.82 208.45
HONGKONG DOLLAR HKD 35.95 38.99
KOREAN WON KRW 0.2168 0.2164
CHINESE YUAN CNY 39.06 38.99
MALAYSIAN RINGGIT MYR 60.16 60.05
THAI BAHT THB 08.03 08.02
U.E.A DIRHAM AED 76.85 76.71
SAUDI RIYAL SAR 74.80 74.67
QATAR RIYAL QAR 77.01 76.88
KUWAITI DINAR KWD 914.86 913.23
CONVERSION RATE FOR FROZEN FCY DEPOSITS
USD 279.7097
GBP 358.336
EUR 306.4219
JPY 2.9638
SETTLEMENT DATE: 13-07-2023
APP/as/
PM to inaugurate Phase-I of FATA University in Peshawar today: Marriyum
ISLAMABAD, Jul 11 (APP):Minister for Information and Broadcasting Marriyum Aurangzeb said on Tuesday that
Prime Minister Muhammad Shehbaz Sharif will visit Peshawar today.
In a tweet, she said that the Prime Minister will inaugurate Phase-I of FATA University in Peshawar.
FATA University was the first university in the merged districts which will provide higher education of international standards to the talented youth of the erstwhile FATA, she added.
The foundation of this university, built at a cost of Rs 1.5 billion was laid in the previous government of the Muslim League-N, she said.
The minister said that the Prime Minister will also distribute laptops among the talented youth of Khyber Pakhtunkhwa under the Prime Minister Youth Programme in Peshawar.
Masood Khan urges Pakistani-American doctors to stay united, lauds contribution to socio-economic sectors
WASHINGTON, Jul 11 (APP):Pakistan’s Ambassador to the U.S., Masood Khan, has commended the contribution of the Association of Physicians of Pakistani Descent of North America (APPNA) towards the uplift of Pakistan’s health, education and economic sectors, with a clarion call for unity among Pakistani diaspora as their motherland fends off challenges.
He was addressing AAPNA’s annual convention — the 46th in the series which began in 1976– as it concluded in Dallas, Texas, on Sunday night, according to a press release of the Pakistani embassy released on Monday. Thousands of Pakistani doctors participated in the week-long convention, which organized a range of events, including showcasing Pakistani products and culture.
“We have one persona, one identity, one flag, one anthem. We are one nation. There should be no fissures or divisions among the Pakistani community,” the Pakistani envoy said, adding that any differences must be bridged, not widened.
“Have faith in Pakistan. We will rise, ride through all storms and emerge as a successful nation in the comity of nations,” he told the convention.
He also urged them to cast aside their doubts, reject despondency and demonstrate unity in their ranks.
Earlier, Dr. Arshad Rehan endorsed the Ambassador’s sentiments and said that APPNA stood united and there was no split. He said that this was evident from the groundswell of support for the organization and the record number of participants in all events.
Separately, according to the press release, talking to Pakistani-American physicians who met the Ambassador individually and in groups, Masood Khan assured them that they should continue to travel to Pakistan without any fear or apprehension, saying no lists being prepared to target them.
“Overseas Pakistanis are one of the most valuable assets of the country and you are free to visit your motherland without any hesitation,” he said.
“Let us stay united and prove the detractors wrong with our unity,” the Ambassador said.
Talking about APPNA’s role and contributions, the Ambassador said that “APPNA is the bright face of Pakistan and is playing the role of a bridge builder between Pakistan and the United States.”
“We are proud of your accomplishments and look forward to even greater contributions towards your new homeland- the USA- and your motherland – Pakistan,” he said.
Masood Khan especially praised APPNA’s efforts in the disaster response and relief efforts, not only in Pakistan but also during the devastating earthquakes in Turkey and Syria. “You have gone global,” he said.
“The noble mission of APPNA has enabled the organization to transcend boundaries and reach out to people in distress. The cause of service to humanity has raised its profile,” he added.
Masood Khan also especially commended APPNA’s contributions in health tech start-ups, telemedicine, online pharmacies, and the establishment of hospitals. He observed that APPNA’s contributions had not only advanced the healthcare sector but had also boosted the nation’s digital economy.
Dr. Rehan spoke in detail about the organization’s social and disaster relief programmes. He said that APPNA’s goal was to involve the second and third generation of Pakistanis in the organization to ensure the continuation of its humanitarian work.
Syed Javaid Anwar, a prominent Pakistani-American businessman and philanthropist from Texas, and Dilawar Syed, Deputy Administrator (designate) of the US Small Business Administration also addressed the banquet.
Pakistan eyes GCC’s $40 bln investment in agri sector in five years
ISLAMABAD, Jul 11 (APP): Prime Minister Shehbaz Sharif on Tuesday said the government aimed to fetch investment of billions of dollars from the Gulf Cooperation Council (GCC) countries into the country’s food and agriculture sector
In a tweet, he said, the GCC countries import food items and agriculture products to the tune of $40 billion annually.
Sharif said the step would be taken under the supervision of Special Investment Facilitation Council (SIFC), for which the ground has been prepared.
In the next four to five years, he said, there would be an investment of approximately $40 billion in addition to the creation of four million new jobs.
The prime minister mentioned that at the national seminar on agriculture and food security held Monday, he stressed the importance of revitalizing agriculture as a harbinger of the second Green Revolution.
“The second Green Revolution is about making agriculture the major driver of our economic growth, leading to food security that reinforces our national security,” he said.
He said the seminar was not a routine event meant for churning of rhetoric, but it represented the beginning of a long overdue national effort for the economic revival of the country owned by all stakeholders.
“The future holds the promise of departing from loans to building a resilient economy, which stands on its internal strengths,” he said. “Together, we will make it happen.”
Ahsan Iqbal holds meetings with Chinese companies’ representatives
BEIJING, July 11 (APP): Chen Diming, Chairman of China Apollo Holding Group, Chen Diming and senior representative of China Ocean Engineering Construction Company, Xu Hao called on Minister for Planning, Development and Special Initiatives, Prof. Ahsan Iqbal in Beijing.
The minister appreciated the companies’ longstanding partnership with Pakistan and their interest in solar power
sector in Pakistan.
He underscored the importance of energy projects which have enabled Pakistan to overcome its energy shortages and urged them to invest in solar power generation and establishment of solar manufacturing plants in Pakistan to achieve better efficiency and wider distribution of cheaper electricity.
Prof. Iqbal also briefed the Chinese companies about Prime Minister’ “solar energy initiative” for which foreign investors were offered special incentives.
The minister invited the Chinese companies to benefit from this new policy. He also urged them to set up their regional engineering design centres in Pakistan and employ local talented and skilled professionals.
The minister assured the government’s full support and facilitation to the Chinese companies.
Prof. Ahsan Iqbal also received Mr. Lin Xiaodong Vice President, ZTE Corporation for a meeting. The company has established its offices, software centers, factories, training centers and customer service centers in different cities
in Pakistan.
The minister acknowledged the importance of these projects which have enabled Pakistan to gain from the company’s experience and technology, both in hardware and software, which will add value to Pakistan’s IT sector’s development.
CPEC landmark project in development history of Pak-China relations: Ahsan Iqbal
BEIJING, July 11 (APP):Minister for Planning, Development and Special Initiatives, Prof. Ahsan Iqbal Chaudhary said that China Pakistan Economic Corridor (CPEC) is a landmark project in the development history of Pakistan-China relations which will bring prosperity and socio-economic uplift to the people of Pakistan and also contribute to the regional connectivity and development.
He made these remarks during a meeting with Chairman, China International Development Cooperation Agency (CIDCA), Luo Zhaohui here.
He was accompanied by Chief Economist Planning Division Dr. Muhammad Nadeem Javaid and senior officials of the Embassy.
Paying rich tribute to the leadership of the two countries for providing strategic guidance to the development of CPEC, the minister highlighted key projects that have been completed since the launch of CPEC a decade ago.
During the meeting, Planning Minister conveyed best wishes and congratulations of Prime Minister Shehbaz Sharif to Chairman CIDCA on the successful holding of the “First High-Level Conference of the Forum on Global Action for Shared Development”.
The minister appreciated the strong partnership between Planning Division and CIDCA on socio-economic development projects in different areas including agriculture, health, education, vocational education, water supply, and poverty alleviation under the CPEC framework.
He especially commended CIDCA’s strong support for development projects in Gwadar.
Commending the Global Development Initiative (GDI) of President Xi Jinping which Pakistan has joined as the first partner country, the Minister expressed hope that the two sides will further strengthen bilateral cooperation in priority areas under this historic framework.
Chairman Luo appreciated the contributions of the minister to the advancement of CPEC and assured him of CIDCA’s long-term commitment to the high-quality development of CPEC.
He also welcomed the Minister’s proposal of setting-up Expert Groups on enhancing Pakistan’s export potential and development of Special Economic Zones & industrial parks on the basis of the Chinese experience.