LAHORE, Mar 30 (APP):European Union’s extension in the GSP-Plus status (Generalized System of Preferences) to Pakistan has helped increase exports of value-added textile goods by up to 90 per cent, leading to exports growth by 13 per cent during last eight months.
Adressing the launching ceremony of International Apparel Federation (IAF) membership in Pakistan held here at regional office of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) on Friday, Federal Commerce Secretary Younus Dhaga said the PM package in the shape of Duty Drawback on Taxes (DDT) for the exporters had also helped growth of textile exports.
He added that government was working on five-year Strategic Trade Framework, according which branding, gender equality and promotion of SMEs (Small and Medium Enterprises) to achieve exports target.
Appreciating PRGMEA’s role, he said the government had identified textile as a key priority area and was striving to set the right policies and incentives that encouraged the private sector investment in value-addition. He assured the members of PRGMEA of resolving all their issues at the earliest.
Earlier in his welcome address, PRGMEA Senior Vice Chairman Sheikh Luqman Amin appreciated the extension in the GSP-Plus, saying, “We have succeeded in reaching this landmark simply due to serious efforts of Ministry of Commerce and Textile. Renewal of GSP-Plus status is a golden opportunity for us to enhance our exports.”
Sheikh Luqman mentioned that despite assurance by authorities concerned to clear all pending claims, more and more refund claims were piling up. He stressed the need for formulating a clear policy in this regard. He also called for ease of business to jack up country’s industry to a much competitive level.
On this occasion, the IAF Regional President Ijaz Khokhar stressed the need for enhancing the product lines of Pakistani exports and for that purpose, some incentives should also be announced to motivate exporters.
“Currently, the garment sector has a limited product line for export market due to non-availability of the latest fabric locally. Foreign buyers demanding new garments based on G3, G4 and Technical fabric material. We need to offer more diversified products to take benefit from the GSP Plus,” he argued.
He said that Pakistan direly needed to establish an Aggressive Marketing Plan for garment export to get maximum benefits of GSP-Plus status.
The IAF Regional President added that regional taskforce needed to be established to determine issues being confronted by the industry and then to suggest measures to ensure its viability and competitiveness in the international market.
GSP Plus extension leads to 13pc exports growth
JIT did not bother to verify the documents presented by Sharif Family: Marriyum
ISLAMABAD, Mar 30 (APP):The JIT headed by Wajid Zia did not bother to verify the documents presented by the Sharif family including the letter by the Qatari Prince, the Trust Deed and the papers regarding shipment of the machinery of Gulf Steel Mills.
This was revealed by Minister of State for Information, Broadcasting, National History and Literary Heritage Marriyum Aurangzeb while talking to the media outside Ehtsab Court here Friday.
She said that the JIT did not even contact the concerned company and these documents were not included in the case as a proof by the Sharif family in their defence.
The minister said that during the cross-examination of the statements made by Wajid Zia by the lawyer of the Sharif family it had transpired the JIT had not requested for MLA regarding the Qatari letter, Trust Deed and the documents regarding shipment of Gulf Steel Mill machinery which were submitted by the Sharif family along with the money trail. She said that these documents were the pivotal evidence in the case but the JIT on its own assumed them as fake.
The minister said that the JIT had not been able to collect or present any evidence against the Sharif family in the court till today. Marriyum said that the entire nation knew that it was not a case of corruption against Nawaz Sharif but a case of political victimization. Why this case was instituted and for what purpose, was now evident to everybody, she added.
Marriyum pointed out that Wajid Zia had come to the court among tight security and it seemed that he was going to give some big statement or make a big revelation today. The minister suggested that the media should also allow opportunity to those who were afraid to explain as to why they were afraid? She said that if they were afraid and could not defend their actions then they should not have done anything wrong or collected flawed evidence. She said that they probably thought that whatever they would collect would be accepted in totality by the court not realizing that it did not work that way. She said that the statements of Wajid Zia in the court were strengthening the narrative of Nawaz Sharif.
Marriyum said that they had been propagating that the Sharif family had not presented any evidence in their defence whereas the reality was that the documents which were deposited by the Sharif family were being used as evidence against them.
The minister said that Malala Yousaf Zai was pride of Pakistan who bravely stood up against terrorism. She said that the steps taken in line with the vision of the former Prime Minister and the PML (N) government had achieved great success against terrorism and peace had returned to the country, however, the journey was still on. She said that the sacrifices rendered by the people, security forces and the law enforcing agencies had also immensely contributed to that effort.
Three-day Pak-Afghan Culture events start
ISLAMABAD, Mar 30 (APP):A three-day Pak-Afghan Culture program started here at Pakistan National Council of the Arts (PNCA) on Friday.
During the event, Pak-Afghan cultural activities including music shows and traditional food stalls would be arranged.
Speakers at inaugural ceremony said that Pak-Afghan stronger people to people ties would further strengthen relations between the two brotherly countries, adding that events like this “cultoor” (Culture) festival were the need of time.
They appreciated organizers for arranging the event .
Famous Pashto singer Haroon Bacha also performed and got big applause from the audience.
A large number of people attended the first day cultural activities. Director General PNCA, Syed Jamal Shah also attended the inaugural ceremony of three days culture event.
The artists of Pakistan and Afghanistan would continue their performances till April 1.
Miftah Ismail Chairs meeting to review financial matters pertaining to NHA projects
ISLAMABAD, Mar 30 (APP):The Adviser to Prime Minister on Finance, Miftah Ismail here on Friday chaired a high level meeting to review financial matters pertaining to projects being undertaken by National Highway Authority (NHA) in different parts of the country.
Minister of State for Finance, Rana Mohammad Afzal was also present on the occasion.
Chairman NHA briefed the meeting about the current status of different projects and apprised about financial requirements of the current and future projects, especially in the context of the upcoming budget 2018-19, said a press release on Friday.
The Adviser said that developing communication linkages including road networks and other necessary infrastructure was a priority area for the PML-N Government as they played a key role in development and economic activities in the country.
Miftah Ismail said NHA should accord priority to completing ongoing projects and government would extend NHA facilitation in terms of allocation of funds in the next budget despite constraints.
He emphasized that NHA should also make endeavours for generation of funds from other sources and it would receive government’s support in this matter.
He appreciated NHA’s contribution in undertaking different important communication projects and making good progress till date. Senior officials of the Ministry of Finance and NHA attended the meeting.
PTCL to co-sponsor Pakistan team jersey for West Indies T20 series
ISLAMABAD, Mar 30 (APP):Pakistan Telecommunication Corporation Limited (PTCL) will co sponsor team jersey of the ensuing T20 series being played being played between Pakistan and West Indies from April 2018.
This was announced at the kit unveiling ceremony held at the Gaddafi Stadium in Lahore between PTCL & Pakistan Cricket Board (PCB) senior officials.
The cricket team kit was unveiled jointly by Chief Commercial Officer, PTCL, Adnan Shahid and Chairman, PCB, Najam Aziz Sethi, along with EVP Marketing & Communication, PTCL, Syed Shahzad Shah and other officials. The three-match series would be played in Karachi on April 1-3. Speaking on the occasion, Adnan Shahid, Chief Commercial Officer, PTCL said, “After backing Islamabad United to be the PSL 3 Champions, I am excited with our co-sponsorship of Pakistan Cricket Team. We are proud to have PTCL logo on the national teams’ jersey and hope the team will continue its winning streak and retain its ICC T20 No 1 spot. As a national company, we have supported return of sports in Pakistan, not only cricket, but also our national game hockey with PTCL Hockey Cup 2018. We will continue doing so in future as well.”
Speaking on the occasion Chairman, PCB, Najam Sethi said, “We are happy to see that PTCL, being a national company, is taking a lead and playing a constructive role in both domestic and international cricket,” said a press release.
He added that “Recently they have supported Pakistan T20 New Zealand Series 2018, Disabled Cricket Tournament 2017, Islamabad United in PSL3 2018 and this time for co-sponsoring the T20I series to be played against West Indies. PCB is appreciative of PTCL’s continued support to cricket in Pakistan.”
Collaborative efforts of PTCL and PCB are helping in the revival of International cricket in Pakistan and bringing in the golden era of cricket back in Pakistan.
World Bank approves $145 million to help improve poor’s access to affordable housing in Pakistan
WASHINGTON, March 30 (APP): The World Bank has approved $145 million for Pakistan to help improves processes that would enable poor, including women, to have access to affordable houses through mortgage financing.
The funds to be made available under the Pakistan Housing Finance Project (PHFP) will support the government’s efforts and vision for the development of the housing sector in Pakistan and is geared towards helping women and low-income group get home ownership.
“This project will spur the development of housing mortgage market in the country and make housing finance affordable and reachable to many Pakistanis,” said Illango Patchamuthu, World Bank Country Di-rector for Pakistan. “The beneficiaries will include women and low-income groups through improved incentives for ecofriendly homes.”
The project will extend financial and technical assistance to Pakistan Mortgage Refinancing Company (PMRC), the Planning Commission (PC), and other institutions to increase availability of mortgage financing for households, according to a statement issued in Washington.
According to the estimates, nearly a third of the country’s nearly 200 million population do not own homes and there has been rising demand.
“Pakistan’s mortgage finance to Gross Domestic Product ratio of 0.25 percent is extremely low compared to the South Asia average of 3.4 percent,” said Korotoumou Ouattara, World Bank Senior Financial Sector Economist.
He said that there was a significant market gap across all segments of the population and the creation of PMRC marks an important step in achieving the Government of Pakistan’s objective to improve access to housing finance in the country.
“The project will address the liquidity constraints of lenders, support capital market development, and create an enabling environment for a sound national housing policy.”
According to the World Bank, the project adopts an innovative approach including crowding in commercial financing for home ownership and providing greater incentives for women to become home owners.
It also incentives people to build energy efficient and green homes and adopt climate and disaster-resilient construction designs and materials.
The project is being financed by the International Development Association, the World Bank’s fund for the poor, with a maturity of 25 years, including a grace period of 5 years.
Pakistan has received $42.7 billion in assistance, which include $33.4 billion in loan and credits and $9.3 billion in grants, since it became the member of the world body in 1950.
The World Bank’s pro-gram in Pakistan is governed by its Country Partnership Strategy (CPS) for FY2015-2020 with four priority areas of engagement: energy, private sector development, inclusion, and service delivery.
Pakistan receives financing support from the International Bank for Reconstruction and Development (IBRD) and concessional financing from the International Development Association (IDA).
The current World Bank portfolio includes 40 projects with a net commitment of $6.8 billion.
Governor inaugurates FATA Super League-2018 at Jamrud
PESHAWAR, Mar 30 (APP):The Khyber Pakhtunkhwa Governor, Eng. Iqbal Zafar Jhagra Friday said that importance of sports is well admitted reality; which truly are the best means to bring up and train the new generations and promoting constructive norms and social activities in the society.
The world over, he added, sports carry inevitable importance in socio-civic life of people and
even now a days, role of sports in promoting economic activities is also a well acknowledged fact.
This he said while talking at the concluding ceremony of the FATA Super League-2018 at Jamrud
in Khyber Agency. Member National Assembly, Al-Haj Shahji Gul, Former Captain Shahid
Khan Shinwari and other parliamentarians from FATA as well as a number of tribal elders were also present on the occasion. The FATA Super League was participated by 24 cricket teams from across FATA who also comprised of 10 players bearing international level credentials.
The Governor while appreciating the quality and standards of the FATA Super League said that
the players being nourished at this forum are no doubt our precious national asset.
The ongoing efforts to offering them better education and training facilities,
he said, are aimed at to enable them play their visible role at the national
level in every field of life.
To ensuring peace and stability on sustainable basis,
promoting national cohesion, making development and prosperity possible and
especially to achieving the targets set for education and training of youth are
our foremost priorities and neither we have compromised on this account in the
past nor will tolerate any hurdle in this respect in future, the Governor said.
The Governor further pointed out that fortunately our
youth have become fully conscious of the nefarious tactics of the enemies of
our country and he can say with complete confidence that they would continue
their effective role in maintenance of peace and stability as well as bringing
development and prosperity in the area.
Later on the governor gave away Champions trophy to the winner team and
also delivered prizes to the players who have competed with distinctions during
the FATA Super League matches.
Haroon for strengthening manufacturing sector to achieve 7pc growth rate
ISLAMABAD, March 30 (APP):Special Assistant to the Prime Minister on Revenue and Federal Minister Senator Haroon Akhtar Khan said Friday the government was cognizant of the need to strengthen and enhance manufacturing base which holds the key to achieving 7 per cent growth in the coming years.
“If we have to grow at 7 per cent, we will have to enhance our manufacturing base,” he said while talking to a delegation of All Pakistan Textile Mills Association (APTMA), which met the minister and top officials in Federal Board of Revenue (FBR).
The APTMA team shared with them a set of proposals and recommendations for boosting the
export oriented textile industry.
The minister assured the delegation that the government was keen to pay outstanding Sales Tax refunds and modalities were being worked out for this payment by the end of May.
“The Prime Minister is very keen on that as he believes the money should be where it belongs
to,” he said.
Haroon lauded the contribution of the textile sector in helping the government achieve the target, nearly doubling the country’s tax revenues since 2013.
He also appreciated the industry for playing its part in arresting and reversing the decline in exports.
“There was about 15 per cent increase in exports in the month of February whereas the overall growth had been around 11 to 12 per cent during this fiscal year, which speaks about the effectiveness of government’s packages and other facilitative measures announced for this sector,” he added.
Meanwhile, a delegation of Association of Builders and Developers of Pakistan also met
Haroon and management of FBR to discuss their outstanding issues and the proposals and recommendations for resolving them.
The minister assured them their genuine issues would be resolved and their budget proposals
would also be closely examined and considered in the upcoming Federal budget.
OICCI members keen to expand their businesses in Pakistan: Sindh Governor
KARACHI, Mar 30 (APP):Successful economic policies of the government has significantly restored confidence of Overseas Investors Chamber of Commerce and Industry (OICCI) members on opportunities available in the country, said Sindh Governor, Muhammad Zubair here on Friday.
“OICCI members have serious and thoughtful plans to expand their businesses in Pakistan reflecting their confidence on the economic steps taken by the government,” he said addressing a ceremony arranged by Corporate Pakistan Group and Nutshell to congratulate Kimihide Ando, head of Mitsubishi Corporation Pakistan on conferment of Sitara i Imtiaz.
Sindh governor said those who kept faith in Pakistan in its troubled times are the true friends of country and Mr.Kimihide Ando is one of them.
“I am proud to have recommended for the award as he thoroughly deserves it,” he said emphasizing that services of Ando could not simply be explained in words.
“He has been a remarkable ambassador of Pakistan not only in Japan but also in other countries and conferment of Sitara i Imtiaz is to recognize his immense work for the country,” said Sindh Governor.
In particular context of Karachi, he said it was important to restore and maintain law and order situation in the commercial hub of the country hence federal government took into confidence all
stakeholders and initiated the much needed operation.
Referring to CPEC, Muhammad Zubair said it was not against any country and companies from across the globe can benefit from it.
Kimihide Ando on the occasion said he considered Pakistan as his second home due to love and affection shown to him by the people of Pakistan.
The event was also addressed by Senator Mushahid Hussain Syed, Vice President of Pak-Japan Business Council, Kaleem Farooqui and Azfar Ahsan, head of CPG.
The ceremony was also graced by Consul General of Japan, Toshikazu Isomura.
Senators, Senate chairman elected using riches should be sent packing: PM
SARGODHA, Mar 30 (APP):Prime Minister Shahid Khaqan Abbasi Friday while further reinforcing his party’s stance said that those who had been elected as senators or as the Senate Chairman using their riches must be sent packing as they could not represent Pakistan.
“Our opponents are disturbed these days over my remarks about Senate chairman. I repeat that people of Pakistan do not accept the seats obtained using money. Those who have become senator or Senate chairman using the money, cannot represent Pakistan. These people need to be sent packing,” the prime minister said addressing the inauguration ceremony of Chaudhry Abdul Hameed Cardiology Centre at District Headquarters Hospital and two high pressure gas pipelines of 12 and 16 inch diameters for Sargodha city.
He was accompanied by Minister of State for Information and Broadcasting Marriyum Aurangzeb, Minister of State Mohsin Shah Nawaz Ranjha and Special Assistant to PM Dr. Mussadiq Malik besides MNA Dr Zulfiqar Bhatri MNA and MPA Abdur Razzaq.
He told the gathering that the politics of horse trading needed to be buried forever.
Apprising the gathering about his meeting with Chief Justice of Pakistan Justice Saqib Nisar, the prime minister asked as why the opposition was perturbed over the interaction.
“I am the prime minister of this nation. (I am the) prime minister of this country. Chief Justice heads an institution. If I find any difficulty, I am bound to meet him and try to remove those,” he remarked
He said the country belonged equally to all including himself, Imran Khan and even the chief justice.
“How the country will run if we confine ourselves to our office and not talk to each other,” he said recalling his statement at the parliament the government was faced with some issues to run the government affairs.
He believed that there was no harm in interaction when there was common objective of country’s development.
He said the meeting continued for two hours and “I hope he would have understood my words. I also listened to him. The countries are run this way only. This is nothing new,” he added.
The prime minister said Imran Khan also voted PPP in Senate election despite having alleged Asif Zardari of buying PTI’s 14 senators.
He said the sanctity of the vote would be undermined if such politics continued.
He said the PML-N was proud of using not even single penny in the Senate election and challenged both Imran Khan, Asif Zardari and Senate Chairman to prove their innocence.
The prime minister who earlier unveiled plaques to launch three mega development projects, said both Pervez Musharraf and Zardari had failed to carry out development projects like gas and power supply, roads, dams or canals.
He said as the incumbent government assumed power, the country used to import a million ton of fertilizer and also inherited gas and power crises, closed power plants and industries.
Contrarily, he said today the government was executing gas projects worth 11 billion only in Sargodha which would increase the supply threefold and end the load shedding.
He said throughout the country, one could see the development projects executed by only the PML-N government be it is roads, hospitals or colleges contrary to previous governments which used to work for minting money.
Regarding the court cases against Nawaz Sharif, the prime minister said they did not expect any justice from accountability court. He said there were no strong evidences nor any corruption allegations against the former prime minister who had left the office within no time of his disqualification by the Supreme Court just on the basis of a residential permit (Iqama).
He told the gathering that the government did not allow the sit-ins or court cases to impede the course of national development and carried out development projects even more than Sindh, KP and even those done during last 65 years.
Mentioning the generation of 10,500 megawatt during this tenure, the prime minister said there was enough electricity to cope with the requirement however there could be some local issues.
Recounting his government’s credits of bringing down the inflation, and improving the economic growth from 3 percent to 5.7 percent, the prime minister said the 1700-kilometer long motorways was being constructed or nearing completion.
As requested by the local parliamentarians, the prime minister agreed over the establishment of a women university, cancer and children hospital besides gas supply to the rest of the localities of the city.
He hoped that the PML-N would claim even more seats in the upcoming general elections.