ISLAMABAD, May 27 (APP): The major portion of the China-Pakistan Economic Corridor (CPEC) transportation infrastructure projects’ investment would go to Khyber Pakhtunkhwa, wherein as many as $3.825 billion would be spent on development of various infrastructure projects.
Chinese friendship a corner stone of Pakistan’s foreign policy
HYDERABAD, May 27 (APP): Director Area Study Center Far East and South East Asia University of Sindh, Jamshoro Prof.Dr. Hamadullah Kakepoto has said that friendship with China has become corner-stone of Pakistan’s foreign policy and enjoys full support in the country.
Talking to APP here, Prof. Dr. Hamadullah Kakepoto said that
friendship with China has been called “all-weather friendship”, “comprehensive friendship” and recently “an indispensable partnership” and added that it has also been described as
“a model of friendship between countries with different social systems”.
He said that Pakistan and China enjoyed very cordial relations since long and their bilateral cooperation in various fields including political, economic, trade and security has worked for the mutual benefit of both countries.
Prof. Dr. Hamadullah Kakepoto said that Pakistan and China shared strategic interests as well.
He said that recent visit of Chinese President to Pakistan and signing of 51 MoUs in various fields is another milestone in their bilateral cooperation.
One of the main aspects of their recent agreements was the
establishment of the Economic Corridor between Pakistan and China to facilitate trade and investment activities between the two countries, added.
Area Study Center Far East and South East Asia further informed that the economic corridor is about 3000 kilometers long which consists of highways, railways and pipelines and the corridor will provide an outlet to China via Gawadar port to the rest of the world.
He said that the economic corridor is expected to bring trade and investment opportunities much in favor of Pakistan. It will connect all the provinces of Pakistan with China.
This direct connectivity with China will provide an opportunity to the business men of Pakistan to carry out trade and investment activities with China, added.
Prof. Dr. Hamadullah Kakepoto further informed about youth that the it is expected to open new employment opportunities for the youth of Pakistan and most significantly it will be major source of monetary benefit for government of Pakistan in terms of route charges.
He said that this is great chance for Pakistan to address socio-economic development and to eliminate energy crisis.
He informed that China is one of the major oil importers in the world and with this economic corridor they will have a route for safe and sustain energy through pipelines. Further, it will facilitate its two way trade with rest of the world especially, Middle Eastern countries. More importantly it will ensure safe and uninterrupted supply of oil from Gulf region to China, added.
Highlighting the historical background of the friendship between Pakistan and China, he said that both countries are heirs to ancient civilizations going back thousand of years.
He claimed that first recorded contact took place in 200 BC when a Chinese delegation crossed the mountains separating the two regions.
He said that after the spread of Buddhism to China, some Chinese monks (Fa Hian, Tsieven Tsang) visited the sub-continent in 6th and 8th centuries and left valuable records.
Prof. Hamadullah Kakepoto said that Pakistan had won independence in 1947 was among first Countries to recognize PRC and diplomatic relations were established in May 1951.
He said that Pakistan China friendship got off to a very good start as conceded an area of over 750 sq miles on its side of the Karakoram watershed that was used seasonally by pastoral nomads in the Hunza area.
He said that Pakistan played the role of a frontline state over the decade of 1979-89 and there were frequent consultations between the two countries. In addition, the range of cooperation between the two countries expanded constantly, with a Treaty for cooperation in Peaceful uses of Nuclear Technology being signed in 1986, he said.
He said that both Pakistan and China have become allies of the US in the war against terror and this has transformed their relations with the US and added that it has also had a serious impact on their bilateral relations as both have realized the importance of fighting poverty and backwardness that contribute to insecurity and terrorism.
Prof. Hamadullah Kakepoto said that interestingly, in these interesting times China represents Asia’s only ray of hope and added that emerging as a pillar of strength for the world community, China is shouldering heavy responsibilities not only for the maintenance of international peace and security but also in averting any major economic crises in Asia, added.
He said that China today is major stabilizing force in global economic and fiscal system and has become an important part of the international cooperation on combating terrorism, the major mediating force and organizer of the tri-party and the six party talks aimed at resolving the Korean peninsula nuclear issue and major player in the UN security council and Shanghai Cooperation Organization (SCO).
He said that global environment needs to be stabilized through consistent conflicts prevention and peaceful settlement of disputes in accordance with the modalities prescribed in the charter of the United Nations.
In the years to come, he said this friendship was bound to blossom further, remain ever green and reap dividends for our future generations.
He said both countries looked forward to have further exchanges of visits, to have more high level contacts to promote mutual friendship and cooperation in various fields including politics, economy and people to people contacts.
He said China Pakistan Economic Corridor would be further promoted, particularly cooperation in trade, investment, energy and communications would be strengthened.
Rabbani elected life time fellow of Forum of Federation
ISLAMABAD, May 27 (APP): Chairman Senate Mian Raza Rabbani has been elected life time fellow of the Forum of Federation.
According to a press release issued here Friday, Forum of Federation is a worldwide lobby having all the countries’ practicing Federalism as members.
Senator Mian Raza Rabbani, after the 18th Amendment pioneered Pakistan’s membership of the Forum and was a member of its Board of Director’s for two years.
In the letter written by the Board to him, it has been stated “ This exemplary contribution of the Forum, is highlighted by your support in building the work of the Forum in Pakistan and across the globe, representing Pakistan at the International Conference on Federalism in Addis Ababa in 2010, championing the process of Pakistan’s membership to the Forum, contributing your unrivalled knowledge and expertise to Forum events and your contribution to various Forum projects.
Significantly, your leadership as a board member and ambassador of the Forum in Pakistan has fostered strong relationships and strengthened our partnership with various stakeholders in the country.
In light of your contribution to the Forum and the cause of federalism, I am pleased to inform that you have been elected Fellow of the Forum for life. It is this organizations highest accolade.
You are the sixth Fellow elected to the organization since its founding in 1998.
Once again I thank you for your exemplary service to the Forum. We very much looking forward to continuing our close and special relationship with you into the future.”
NA Standing Committee on Information meeting canceled in protest
ISLAMABAD, May 27 (APP): The meeting of National Assembly Standing Committee on Information Broadcasting and National Heritage was canceled to protest against the absence of Ministry of Interior and Narcotics Control officials.
Chairman of the Committee Pir Muhammad Aslam Bodla expressed his indignation over the absence of interior ministry officials, saying that the expenditures of the meeting of the committee should be recovered from the responsible officers of ministry of interior and narcotics control.
He said one point agenda item of Bol TV could not be taken up in the absence of the Ministry of Interior and Narcotics Control.
The member of the committee Malik Aamir Dogar expressed anguish and dismay over the absence of Interior Ministry officials, demanding cancellation of the meeting until attending by interior ministry officials.
Senator Mushahidullah Khan, who attended the meeting as a special invitee, said his only concern was to release salaries of the employees of BOL TV.
Currently, the accounts of BOL were frozen. The employees should be given salaries by unfreezing atleast one account of the channel.
Nazir Leghari said the issue of licence of BOL were raised by Pakistan Broadcasting Association (PBA).
Members of the committee asked the chairman to constitute sub committees for thoroughly perusing the issue of BOL TV.
Chairman Pakistan Electronic Media Regulatory Authority (Pemra) Absar Alam said Pemra has a system to check violations of code of conduct.
First step is to issue advise, followed by warning, showcause notice, personal hearing and then fine. Pemra decision could be challenged in high court.
Pemra has no powers to punish any anchor and guest of any programme of any TV channel. Pemra has only powers to take action against licence holder of a channel.
The meeting was attended by Shakir Bashir Awan, Muhammad Talal Chaudhry, Tahir Iqbal Chaudhry, Ms Arifa Khalid Pervez, Ms Belum Hasnain, Murad Saeed, Ms Naeema Kishwar Khan, Malik Muhammad Aamir Dogar. Additional Secretary Ministry of Information, Broadcasting and National Heritage Ms Saba Mohsin, Chairman Pemra Absar Alam, officials of the ministry and Pemra were also present in the meeting.
Pak-Argentina agreed to cooperate in education, trade, culture
ISLAMABAD, May 27 (APP): Ambassador of Argentina to Pakistan Ivan Ivanissevich on Friday said that his country would like to work in collaboration with the Government of Pakistan in the sector of education, trade and culture.
Health experts calls for moving, relocating Rio Olympics over Zika fears
NEW YORK, May 27 (APP): A group of 150 health experts released a letter Friday calling for the Olympic games to be postponed or moved from Rio de Janeiro over fears of Zika virus exposure in Brazil.
The scientists, doctors and medical ethicists said, in the letter
directed to Dr. Margaret Chan, Director General of World Health Organization, a U.N. agency, that the new findings about Zika’s link to birth defects and Guillain Barre syndrome should be the catalyst to move or postpone the games to safeguard everyone involved.
The group said it is not asking for the games, scheduled to begin in August, to be canceled.
“Our greater concern is for global health. The Brazilian strain of Zika virus harms health in ways that science has not observed before. An unnecessary risk is posed when 500,000 foreign tourists from all countries attend the Games, potentially acquire that strain, and return home to places where it can become endemic,” the medical professionals wrote.
“Should that happen to poor, as yet unaffected places (e.g., most of South Asia and Africa) the suffering can be great. It is unethical to run the risk, just for Games that could proceed anyway, if postponed and/or moved.”
Dr. Tom Frieden, director of the Centers for Disease Control and Prevention, said “there is no public health reason to cancel or delay the Olympics.”
Olympic officials have not commented on the letter.
Earlier this month, Dr. Richard Budgett, chief medical officer for the Olympics, said WHO backed no restrictions on travel and trade, meaning “there is no justification for cancelling, delaying, postponing or moving the Rio Games.”
Business community committed to boost Pak-China trade
BEIJING, May 27 (APP): The business community of
Pakistan is committed to further boost Pak-China trade
relations, increase exports and minimize the trade deficit
between the two countreis.
These view were expressed by leading Pakistani businessmen visiting Chinese Capital here, including Tippu Turk, Javed Ur Rehman and Saeed Peter while talking to APP on the occasion of celebrations of 65 years of diplomatic relations between China and Pakistan.
They said that Pakistan China friendship was the finest
example in the diplomatic history of the world adding the all
weather friendship between both the nations was strengthening with evey passing day in all fields of life, including economic and trade.
Tippu Turk who exports Sialkot-based surgical equipments to China said that Pakistan and China have successfully transformed their diplomatic relations into geo economic partnership.
He said that Pakistan’s surgical equipments were top
ranking in the world. “It is due to quality of these
equipments that we can easily compete with different countries in this sector”, he said.
He urged manufacturers and exporters of various products
in Pakistan to work hard for increasing their exports, however stresed for sustainable efforts to minimize overall trade deficit of Pakistan.
Javed Ur Rehman a garments manufacurer and exporter
said that China and Pakistan have been furthering their trade ties.
” Like various other countries, the trade balance
between China and Pakistan is largely infavour of China.
Pakistani exporters have lot of potential and abilities to
increase exports “, he added.
He said that Pakistani business coummunity in China is fully
aware of its responsibilities to boost the trade specially the
exports and earn foreign exchange for thier country.
Pakistan’s precious stones exporter in Beijing Saeed
Peter, said that Pakistan has rich mineral resources.
Precious stones, semi precious stones and handicrafts of
Pakistan have world’s recognition, he said.
He said that Pakistani businessmen need to exprelore
more potential of these sectors in China and various
other countries .
He said that joint ventures with Chinese for exploration of mineral resources and exporting them can also be good options for earning dollars.
“China has huge consumers base in the world and it is
first door neighbour of Pakistan and has friendly enviornment for Pakistanis. Therefore, we need to further increase our trade specially the exports,” Saeed Peter said.
He said that China-Pakistan Economc Corridor (CPEC) has
also opened new vistas of economic, trade and cultral, relations between both the countries.
He said that China was fast growing economy and Pakistan
has cheap labor and low cost raw materials which makes a
perfect combination of creating a win win situation for both
the sides.
Foreign exchange rates
KARACHI, May 27 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Friday.
LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY.
LIBOR VALUE
6 MONTHS US DOLLAR 0.9756 27.05.16
CONVERSION RATES FOR 27TH MAY 2016 FOR FOREIGN CURRENCY
FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE-25 DEPOSITS)
SBP SETTLEMENT VALUE DATE JUNE 01, 2016.
USD 104.8119
GBP 154.0839
EUR 117.1901
JPY 0.9530
Pakistan fighting war on terror successfully: Kh Asif
ISLAMABAD, May 27 (APP): Defense Minister Khawaja Muhammad Asif has said that Pakistan has been fighting a successful war against terrorism and marked decline in militants activities is its best example.
In an interview, he further said that double standard should not beadopted in war against terrorism.
Minister said the United States targeted Mulla Akhtar Mansour in a drone attack by violating Pakistan’s sovereignty, Radio Pakistan reported.
Khawaja Asif said the meeting of National Security Council on the issue of drone attack would be held soon after the return of Prime Minister Muhammad Nawaz Sharif.
Meeting reviews causes for shortfall in cotton production
ISLAMABAD, May 26 (APP): Finance Minister, Senator
Muhammad Ishaq Dar on Thursday expressed concern that
shortfall in cotton crop this year has eroded GDP growth rate for the year by 0.5%.
He stated this while chairing a meeting which reviewed
the reasons for shortfall in cotton production and also devised short and medium term plans for increasing production.
The minister on the occasion urged the relevant government
organizations to investigate reasons for shortfall in production of cotton and to coordinate efforts for a comprehensive roadmap for achieving higher cotton production in future, said a statement issued by the Ministry of Finance here today.
Known International Expert Neil Foster made a detailed
presentation on the cotton production potential of Pakistan.
He was of the view that Pakistan has potential to
achieve production level of 20 million bales.
He highlighted five major irritants in realizing the
potential of cotton production in Pakistan.
These, he said include quality of seed, disease, pests,
weed and water.
He urged the Government to take necessary steps to
remove these irritants and put in place regulatory mechanism and legal framework for seed production and dissemination. Increasing yield was key to achieve higher level of production.
Finance Minister Ishaq Dar on the occasion advised all
concerned to ensure implementation and early enactment of Plant Breeders Rights Act and formulate further amendments in Seed Act to encourage private sector to enter the industry.
He also directed Ministry of National Food Security and
Research to revitalize the Directorate of Plant Protection to ensure supply of quality pesticides in the cotton growing areas.
He also directed Ministry of Climate Change to
strengthen the National Bio safety Committee and its secretariat.
The Provincial Governments were advised to swiftly
implement their plans to constitute Pink Bollworm Strike force well in time to ensure plant protection.
The meeting was attended by Secretaries of Ministries of
Finance, Climate Change, Textile Industry, Commerce,
Industries & Production, National Food Security and Research. In addition, the high officials of Agriculture Departments, Government of Punjab and Sindh and Experts from private sectors participated.