ISLAMABAD, July 13 (APP): Minister of State for Privatization Muhammad Zubair on Wednesday said the economy is taking strides due to prudent economic policies of the present government.

“The economy is showing unprecedented growth and it had been acknowledged by international rating agencies who have declared Pakistan as one of the top emerging economies of Asia,” he said in a private news channel program.

He said the stock market has jumped from 19000 points in 2013 to 39000 points at present and the listed companies are showing outstanding corporate results except the oil sector which depressed due to price decrease in international market.

“Inflation is at the lowest ebb of last 40 years and industry is being provided uninterrupted power supply except Ramazan,” he said and added, no government could mature the LNG deal during last 15 years and it was done by
the present government.

He said there had been worst economic indicators during years 2008-13.

But, today remittances have grown to US$ 19 billion from US$ 13 billion of 2013. In exports, the numbers of units have increased although it is not reflecting improvement amount wise due to global economic recession.

He said after 1994, it is for the first time that international rating agencies have declared Pakistani economy as stable. “It was declared stable just for a short period 2007 but with the imposition of emergency, it had again declined the graph.”

Answering a question about Chaudhry Aitzaz Ahsan’s demand to take  action against the persons who had displayed the controversial banner, he said, action would be taken against them.

“Chaudhry Aitzaz desires conflict between the civil and military leadership but it will not happen,” he added.

Zubair said agitation is right of the opposition but they should avoid any such conflict that harms the national interests and economic growth.

ISLAMABAD, Jul 13 (APP): Finance Minister Senator Mohammad Ishaq Dar, said Wednesday that government was fully prepared to support all efforts aimed at bringing improvement in the services of Pakistan International Airlines (PIA).

Speaking at a meeting to review management and financial matters of PIA in the light of the revamping plan envisaged by the government, the minister urged the management for continued efforts to enable PIA to regain its lost glory.

The minister said that as national airline, it PIA was desired to offer travel and cargo services in line with international standards.

He said financial discipline along with quality management would help get the desired service levels.

Earlier, Secretary Aviation Division, Muhammad Irfan Elahi, briefed the meeting in detail about the current financial profile of PIA and the recent improvement achieved in its operating performance.

Chief Executive Officer, PIACL, Bernd Hildenbrand shared with the meeting efforts to refurbish different aircrafts and informed about the plan to acquire new aircrafts.

He also briefed the meeting on measures to upgrade in-flight services for comfort and facilitation of passengers both on domestic and international flights.

He informed that over 90% of PIA’s flights were on-time which was praised by all.

Chairman PIACL, Muhammad Azam Saigol informed the meeting that efforts are afoot to improve the service delivery and overall working of the airline to bring it to international standards.

The meeting noted with satisfaction, the efforts by the PIA administration for improving service delivery.

Senior officials of the Ministry of Finance, Aviation Division and PIACL also attended the meeting.

ISLAMABAD, July 13 (APP): In a significant move to achieve self-reliance in the oil production sector, the government has given a task to Pakistan Arab Refinery Company (PARCO) to complete the much delayed multi-billion-dollar Khalifa Coastal Oil Refinery project.

“PARCO has been given the task to complete the project having capacity to refine 250,000 barrels oil per day – equal to 13 million tons of petroleum products per year,” official sources in the Ministry of Petroleum and Natural Resources told APP Wednesday.

The sources informed that the groundbreaking of the project was likely to be performed this year, and it would be completed within five years.

Presently, they said 70 percent of the current oil demand is met through import and the government had planned to set up more oil refineries in the coming days.

The government has allotted 1,000 acres of land for the refinery project, being executed at a cost of around $5 billion.

The project, approved in October 2007, was suspended several times due to paucity of funds, they added.

PARCO is a joint venture between Pakistan and Abu Dhabi in which Pakistan holds 60 per cent shares while Abu Dhabi has a 40 per cent stake through Abu Dhabi Petroleum Investment Company, a subsidiary of International Petroleum Investment Company (IPIC).

In the Khalifa Refinery, IPIC will have a majority shareholding of 74 per cent while PARCO will have a 26 per cent interest.

ISLAMABAD, July 13 (APP): Transparent elections are indispensable for democracy and the opposition does not want any further disputed elections in the country.

Leader of the Opposition in the National Assembly, Syed Khursheed Ahmed Shah said this on Wednesday while talking to media after a joint opposition meeting attended by leaders belonging to opposition parties.

The opposition leaders unanimously agreed that they would collaborate with the government to appoint members of the Election Commission of Pakistan who ensure transparency while conducting elections in the country.

“Opposition along with the government would be successful in appointing members of the ECP in such a transparent manner that no one can raise any objection or allegation”, he said.

Meanwhile, Shah Mehmood Qureshi of PTI said the ECP members, to be appointed, must be responsible and capable of fulfilling their responsibilities honestly.

“If someone approaches the government for appointment as ECP’ member through personal effort or any source, must be disqualified”, he stressed.

He said opposition leaders also discussed the TORs issue during the meeting however there was no such development on the issue despite having many sittings with the government.

The opposition is united on all important issues and the next meeting of the joint opposition would be on July 19 in which leaders from all the political parties would participate, he disclosed.

Participants of the meeting also strongly condemned the Indian brutalities in Held Kashmir, he said.

Awami Muslim League (AML) chief Sheikh Rasheed also condemned Indian atrocities in the occupied Kashmir and urged the international community to raise their voice against this inhuman acts.

ISLAMABAD, Jul 13 (APP): Secretary Election Commission has summoned a meeting of four Provincial Election Commissioners (PECs) on July 15 (Friday) to finalize arrangements for annual revision of electoral rolls campaign.

New voters will be included in the electoral list after the completion of this campaign, said spokesman of the ECP on Wednesday.

The voters who have become disqualified due to deaths or cancelled CNICs will also be excluded from the rolls after their door-to-door verification followed by display process, he added.

The voter count is expected to be increased from 93 million to 97-98 millions after the said revision process, he added.

According to the plan, door-to-door verification would be carried out from August 1st to August 15 this year, which would be followed by 21 days of display process starting from August, 21, he said.

ISLAMABAD, July 13 (APP): The Laws Review Committee Wednesday held detailed discussion on the legislation which is to be placed before the Parliament, besides finalizing the proposals regarding pending legislation which were in the pipeline.

Finance Minister Senator Mohammad Ishaq Dar chaired the meeting, which among others was attended by Minister for Law Zahid Hamid, Minister for Information Technology Anusha Rehman, special assistants to the Prime Minister Khwaja Zaheer Ahmed and Barrister Zafarullah, and Secretary to  the Prime Minister Fawad Hasan Fawad.

The committee also discussed the possibility of holding of a joint session of parliament for finalizing outstanding legislative business.

The minister, on the occasion shared with the committee members the progress regarding the appointment of the members of the Election  Commission of Pakistan.

He also apprised the members of the progress of deliberations on electoral reforms and stated that the proposals in that regard would be finalized soon.