LAHORE, Nov 22 (APP): The 6th Chief of Naval Staff Amateur Golf Championship will be held here from November 25 at the Royal Palm Golf Course.
The top golf players from all over Pakistan will participate in the
three-day competition.
Chief of Naval Staff golf championship
Ishaq Dar directs implementation of Ease of Doing Business Reform Strategy 2016
ISLAMABAD, Nov 22 (APP): Finance Minister Senator Mohammad Ishaq Dar has stressed on the need for ensuring coordination between all stakeholders for implementation of Ease of Doing Business Reform Strategy 2016.
In this regard, he has directed Ministry of Finance to work in close
collaboration with other concerned federal and provincial government agencies including Board of Investment, Federal Board of Revenue and Securities and Exchange Commission of Pakistan in making every effort to facilitate the foreign as well as domestic investors and businessmen.
He said Pakistan is increasingly being identified globally as a business and investor friendly country, a statement of the Ministry of Finance issued here on Tuesday said.
The finance minister said it was gratifying that World Bank in its recently published Doing Business 2017 report has acknowledge Pakistan’s progress towards the ease of doing business for small and medium-sized enterprises.
As a result of government’s measures, Pakistan has moved up 4 notches in the rankings compared to last year and is among this year’s top 10 global improvers.
The finance minister emphasized that the government was fully focused
on improving growth and productivity in all sectors of the economy be it agriculture, industry or services sectors.
He stated that for improving business climate, the government has put
into implementation a countrywide ease of doing business reform strategy with time bound measures to strengthen the business climate and foster private investments.
The finance minister directed that specific actions that are required
to be taken for the purpose must be identified along with time lines.
The finance minister observed that implementation of these time-bound
reforms would significantly improve the country’s business environment and act as a catalyst for increasing both domestic and foreign investment.
FSB agrees to undertake assessment of progress in transforming shadow banking into resilient market-based finance by July 2017
ISLAMABAD, Nov 22 (APP):The Financial Stability Board (FSB) has agreed to undertake, by July 2017, an assessment of progress in transforming shadow banking into resilient market-based finance.
“This will include an assessment of the evolution of shadow banking
activities since the global financial crisis and related financial stability risks, and adequacy of the policies and monitoring put in place by FSB members. The Plenary discussed the preliminary high-level findings from this year’s annual monitoring exercise of the global trends and risks in
the shadow banking system. The results will be published around end-2016 in the Global Shadow Banking Monitoring Report” a statement of the State Bank of Pakistan (BSP) issued here on Tuesday said.
According to the statement, Governor SBP Ashraf Mahmood Wathra attended FSB meeting held in London recently.
The Financial Stability Board (FSB) met in London last week with Mark
Carney, Governor of the Bank of England, in Chair to discuss current vulnerabilities, ongoing policy work and its work plan for 2017.
Governor SBP Mr. Ashraf Mehmood Wathra represented FSB-Regional Consultative Group (RCG) of Asia as one of the Co-Chairs.
Formed in 2011, the RCG Asia includes central banks and financial
authorities of 16 jurisdictions. Governor SBP (along with Chief Executive Norman Chan of Hong Kong Monetary Authority) has been the co-chair of the FSB-RCG for Asia effective from July 1, 2015.
The meeting noted that financial system has continued to function well, despite bouts of uncertainty and risk aversion.
Further, the global financial system is more resilient as a result of
the regulatory reforms introduced following the 2008 financial crisis.
The FSB emphasized the importance of completing the implementation of the agreed reform programme, including Basel III.
The FSB, in consultation with the Basel Committee on Banking Supervision (BCBS), the International Association of Insurance Supervisors (IAIS) and national authorities, approved the 2016 lists of identified global systemically important banks (G-SIBs) and insurers (G-SIIs), which was released on Monday, November 21, 2016.
The Plenary discussed the implementation to date of the Total Loss-Absorbing Capacity (TLAC) standard for banks, and reviewed progress of the work plan enhancing resilience, recovery planning and resolvability of central counterparties (CCPs). It also discussed the responses received to its public consultation on proposed policy recommendations to address structural vulnerabilities from asset management activities, published in June.
The FSB will publish the final recommendations by end-2016.
On correspondent banking (CB), members discussed the draft progress report on the implementation of the FSB’s four-point action plan to assess and address the reasons for decline in CB services.
The report, which will be released by end-2016, will set out next steps for 2017 to maintain momentum in tackling this important issue.
The FSB members reviewed updates from the various workstreams to address misconduct in the financial sector.
The Chair of Task Force on Climate-related Financial Disclosures (TCFD), Michael Bloomberg and his Special Advisor, Mary Schapiro presented an update to the Plenary on the industry-led TCFD’s work.
The presentation included a summary of the recommended voluntary
disclosures and guidance developed by the TCFD, which will be released for public consultation in December 2016.
The final report will be published by June 2017.
The FSB members, then, discussed the workplan for reporting on the
implementation and effects of G20/ FSB reforms.
The FSB members also talked about arrangements for undertaking a
comprehensive review of the implementation and effects of over-the-counter (OTC) derivatives reforms as part of this work.
They also discussed an interim report by the Committee on the Global
Financial System (CGFS) and its study on repo market liquidity and the impact of possible drivers.
The main findings from both studies will be incorporated in the third
annual report to the G20.
The FSB agreed to undertake, by July 2017, an assessment of progress in transforming shadow banking into resilient market-based finance.
This will include an assessment of the evolution of shadow banking
activities since the global financial crisis and related financial stability risks, and adequacy of the policies and monitoring put in place by FSB members.
The Plenary meeting discussed the preliminary high-level findings from
this year’s annual monitoring exercise of the global trends and risks in the shadow banking system.
The results will be published around end-2016 in the Global Shadow Banking Monitoring Report.
Members also reviewed progress on the FSB FinTech workplan, including recent stocktakes in conjunction with other international bodies on various topics.
The FSB noted the potential of FinTech to enhance resilience, and also
the need for remaining vigilant to associated risks including Cyber security; The FSB also agreed on a workplan to identify the supervisory and regulatory issues from the financial stability perspective.
Pakistani battleship opens its doors to Anadolu Agency
ISLAMABAD, Nov 22 (APP): A Pakistani battleship opened its doors to Anadolu Agency Tuesday, with its senior officer expressing his pride at taking part in military exercises in Turkey.
For the exercises, Pakistan’s PNS Alamgir is anchored at Turkey’s naval base in the southwestern province of Mugla, with access to the Mediterranean.
Pakistani Coast Guard Adm. Waseem Akram told Anadolu Agency that they were extremely proud to take part in the Blue Whale – 2016 Invitation Exercises, which conclude on Novemebr 28, according to a report published by Turkish news agency Anadolu on its website.
Hosted by the Turkish Naval Forces, the nine-day exercises involve NATO, U.S., Bulgarian, Pakistani, and Romanian naval forces training in the eastern Mediterranean.
The aim of the exercises is supporting the operations of the joint forces and their mission readiness, coordinated anti-submarine warfare, and submarine and naval air operation training.
“We always see Turkey as our second home. Turkey is very important for the Pakistani people. I graduated from the Turkish Staff Academy. That’s why I love Turkey,” said Akram.
Akram also stressed the importance of Turkish President Recep Tayyip Erdogan’s visit to Pakistan last week for strengthening bilateral ties.
“I hope our close friendship will continue for many years. We always want Turkey be strong. Because if our friend is strong, we feel strong too,” said the admiral.
Cmdr. Imtiaz Ali, the Alamgir’s captain, also said that Pakistani participation in the exercise will boost bilateral relations.
“Turkish and Pakistani sailors are in constant contact with each other and enjoy close relations,” he said.
He added that the Pakistani and Turkish naval forces support each other in such areas as military exercises, training, consultancy, and ship-building.
Ali also thanked the Turkish people and officials for their warm hospitality.
Lt. Cmdr. Zia ur Rehman, the Alamgir’s C.O., praised Turkey, saying his “best years” were in Istanbul in 1997-2002, during his training at the Turkish Naval Academy.
“I have beautiful memories here. I still get together with my classmates,” Rehman said.
Launched in the U.S. state of Florida in 2010, the PNS Alamgir frigate, which is a part of Pakistan’s destroyer fleet, is visiting Turkey for the third time.
Pak forces giving befitting response to unprovoked Indian firing: Sartaj
ISLAMABAD, Nov 22 (APP): Advisor to the Prime Minister on Foreign Affairs Sartaj Aziz Tuesday, while strongly condemning unprovoked Indian firing over Line of Control (LoC) and Working Boundary, apprised the Senate that the Pakistan’s armed forces were giving a befitting response to the Indian shelling and firing.
By resorting to such tactics, India wanted to divert world attention from the atrocities being committed by its Indian forces in the Occupied Kashmir, he said.
Giving point-to-point implementation report on the 22 recommendations and policy guidelines given by the Senate’s Committee of Whole about the latest Pak-India relations, the Advisor said the government took pragmatic steps and action was already underway on most of the recommendations.
Sartaj said a committee headed by the Secretary Foreign Affairs had been constituted for formulating a double and sustainable India/Kashmir policy.
Another committee led by the Secretary Information had been formed for preparing a fact-sheet and counter-propaganda campaign against India, and design and promote a media strategy for continuously highlighting the Kashmiris’ freedom struggle.
Sartaj Aziz said the Ministry of Information Technology had been directed to prepare a comprehensive strategy for highlighting the Jammu and Kashmir dispute, especially on social media.
He said the Public Diplomacy Division had already been established in the Foreign Office for projecting cultural, economic and trade outputs.
The Advisor said Indian interference in the internal affairs of Pakistan, support for subversive activities and human rights violations in the Indian Occupied Kashmir (IOK) were being vigorously highlighted.
The Prime Minister, he said, presented a dossier on Indian atrocities in the IOK to the United Nations Secretary General in September in New York. The dossier had also been shared with other key countries and international organizations, he added.
Another dossier on the activities of Indian spy Kulbushan Jadev, he said, would also be finalized in the near future.
Sartaj said Pakistani missions were also keeping close liaison with the Pakistani and Kashmiri diaspora (in the respective countries). The missions abroad, including New Delhi, were making outreach efforts to highlight the extremist Indian policies, he added.
Under the guidance of Prime Minister, the government had pursued a policy of “peaceful neighbourhood” since June 2013, he said.
He said the OIC’s independent Human Rights Commission had also requested India to give them access to the IoK to see the human rights situation but the India did not accept it.
The Advisor said Pakistan would continue to remain engaged with the OIC and its members to play a more robust role o the Jammu and Kashmir dispute.
He said Pakistan had expressed its willingness to resume a meaningful and comprehensive dialogue process with India with a view to resolve all outstanding issues, including the Kashmir dispute. Pakistan had also welcomed the offer of the UN Secretary General to use his good offices for talks with India, he added.
He said the government had zero tolerance for terrorism. The successful conduct of Zarb-e-Azb against militants and sacrifices rendered by the people of Pakistan, armed forces and law enforcing
agencies clearly demonstrated Pakistan’s commitment to root out the menace of terrorism, he said.
Regarding the Indus Waters Treaty, the Advisor said the treaty could not be revoked unilaterally and India was under international obligations to respect its provisions. The World Bank had also been approached in that regard, he said.
He said the Advisor to Prime Minister on Foreign Affairs with the status of a federal minister was already performing the role and the functions of the Foreign Minister and was regarded as such by the international community.
Priority being accorded to facilitate unconnected: Anusha
ISLAMABAD, Nov 22 (APP): Minister for Information Technology and Telecommunications Anusha Rahman Tuesday said focus was being given on “broadband connectivity & provision” to materialize dream of Digital Pakistan by 2018.
“Our utmost priority is to connect the unconnected and that was why
remote areas were being facilitated,” she said this while chairing a Universal Service Fund (USF) Board meeting.
The meeting took an overview of existing and upcoming projects of USF pertaining to establishment of Telecenters and Establishment of Computer Labs in Women Empowerment Centers administered under Pakistan Bait-ul-Mal (PBM).
The minister directed USF to bolster monitoring and evaluation resources to ensure optimal use and sustainability of rolled out projects.
She directed the authorities to devise an internal evaluation and monitoring mechanism to ensure transparency & efficiency in the company.
It was directed that performance appraisal of all employees working in USF should be conducted on basis of tangible and measurable KPIs on quarterly basis and report should be submitted to Board.
Other board members including Secretary IT, Rizwan Bashir Khan, Member Telecom, Mudassar Hussain, Chairman Pakistan Telecommunication Authority (PTA), Dr. Ismail Shah and Chief Executive Officer (CEO) USF, Faisal Sattar also attended the meeting.
78 Ambassadors/High commissioners posted abroad: Senate told
ISLAMABAD Nov 22 (APP): Advisor to the Prime Minister on Foreign Affairs Sartaj Aziz informed the Senate on Tuesday that a total 78 Ambassadors/High commissioners of Pakistan and 119 Pakistan Missions were posted in various countries.
Replying to a query during question hour, Advisor to the Prime Minister on Foreign Affairs Sartaj Aziz also informed that a total 241 officers of Foreign Services of Pakistan BPS-18 and above are working in Pakistan Missions abroad.
Replying to a supplementary question, he said, “There is no quota in initial appointment and the posting tenure is three years.”
Responding to a question regarding Pakistani prisoners in Saudi Arabia he said there were a total 1021 Pakistani prisoners in Riyadh, Saudi Arabia.
Embassy officials visited jails in three regions as well as deportation centers where they issued emergency travel documents to 8421 Pakistan nationals in 2015 and 8525 Pakistan nationals in 2016 to facilitate their deportation to Pakistan, the Advisors told the Senate.
He also informed that Pakistani mission in Saudi Arabia provided legal aid to detained Pakistanis in various charges. However, the decision on their release or punishment has to be taken by the courts under the Saudi laws.
DTH game changer for cable, media industry: Absar
ISLAMABAD, Nov 22 (APP): Pakistan Electronic Media Regulatory Authority (PEMRA) Chairman Absar Alam Tuesday said the direct-to-home (DTH) service would prove to be a game changer in the cable and media industry of the country.
Talking to media persons after a meeting with Chang Jin, Director Asia Pacific Institute of Broadcasting Development (APIBD), here he said the DTH like China Pakistan Economic Corridor (CPEC) was a game changer.
The PEMRA Chairman said those who were vehemently opposing start of the local DTH, should express patriotism and stop showing illegal Indian DTH.
“Why don’t they go to court against illegal Indian DTH, their attitude is both unprofessional and against the national interests,” he added.
He dispelled the impression being given by the cable operators that the DTH would damage the cable industry. “In developed countries like the United States and Germany where DTH systems had been launched over 20 years ago, penetration of the DTH is only 30 per cent and 70 per cent viewers still depend on the cable system.”
Both the DTH and digital cable could and would coexist, he said adding there was a natural segmentation of the target households for both.
He said in 2017, PEMRA would focus on digitalization of analogue cable. As per law analogue system was to be abandoned in 2015 but it could not be done.
Absar Alam said in DTH, Pakistan lagged behind all the SAARC countries, including Afghanistan.
He said APIBC and PEMRA would soon start training programmes
for the media industry. He held a constructive meeting with Chang and
both the organizations would cooperate for the development of broadcast media in Pakistan, he added.
Chang said he had held constructive meetings with the officials of Ministry of Information and Broadcasting and today he met the PEMRA Chairman. Workshops for trainers in digital media would start early next year.
Replying to a question about the Lahore High Court decision on a petition against the DTH, Absar Alam said PEMRA had not yet received the copy of the short order. A Supreme Court order, he added, was already in place in which Justice Saqib Nisar had given directives that the process for the DTH would not stop. Under the light of the apex court orders, bidding for the auction of three DTH licenses would go ahead as per schedule tomorrow (Wednesday), he added.
Dispelling the impression that the DTH bidding was being held to favour some parties, he said the entire process was open and transparent and under the scrutiny of the superior courts and the parliamentary committees.
He said PEMRA kept its promise made during the cable operators meeting with Finance Minister Ishaq Dar, and they had no justification to go on strike.
Business networking session for Pakistani entrepreneurs at Jeddah
ISLAMABAD, Nov 22 (APP): Commercial Section of the Consulate of Pakistan Jeddah organized a business interactive (B2B) networking session for the business mission visiting Jeddah for participation in Saudi Foodex Fair-Jeddah.
The delegation comprised 10 leading Food Sector companies from Pakistan, who represented the leading manufacturers-cum-exporters of rice, bakery and confectioneries and honey, a message received here Tuesday from Jeddah said.
The consulate had made extensive arrangements for the meetings of the delegates with their Saudi counterparts.
The meetings with Saudi entrepreneurs were organized in order to pursue the drive to enhance bilateral trade and investment between Pakistan and Saudi Arabia through direct private sector engagement.
During the meetings the entrepreneurs from both sides met and learnt about the potential business opportunities. Notable interest was found amongst local business community.
Commercial Counsellor oversaw all the arrangements of the “Business Match Event.” On the sidelines of the B2B session, he highlighted that the opportunities were there but guided by the Consulate of Pakistan, businessmen could find their perfect match.
He underlined that the vast majority in the networking session was introducing brand new potential partners to each other, thereby creating the possibility of new openings.
During the B2B meetings an informal interaction also took place between the Saudi entrepreneurs of the focused products and the Pakistani delegates, the message added.
All available resources being utilized to meet energy needs: Jam Kamal
ISLAMABAD, Nov 22 (APP): Minister of State for Petroleum and Natural Resources Jam Kamal Tuesday said the government was utilizing all available resources to meet ever-increasing energy needs in the country.
Addressing the inaugural ceremony of a two-day 23rd Annual Technical Conference (ATC) here, he said all stakeholders were on-board to accelerate exploration and production (E&P) activities in oil and gas sector.
The conference titled “Oil Price: Domestic Challenges and E&P Strategies,” was jointly organized by Pakistan Association of Petroleum Geoscientists (PAPG) and Society of Petroleum Engineers (SPE).
Around 1,000 local and foreign Exploration and Production E&P companies participated in the conference, where as many as 36 professionals and 24 students gave their presentations on the topic followed by panel discussions.
Jam Kamal said import of Liquefied Natural Gas (LNG) was being enhanced gradually to bridge gap between demand and supply of natural gas.
He said the government was in the process of establishing more LNG terminals in Karachi and Gwadar, besides reinforming gas companies’ transmission network by laying of Karachi-Lahore and Gwadar-Nawab Shah gas pipelines.
The minister was of the view that E&P companies operating in Pakistan were playing a crucial role in stepping up exploration activites to tap existing potential of natural resources.
He said the government was making efforts that fuel produced by the
companies should be environment friendly, adding that the country’s oil
refining capacity was being increased and more refineries were being set up aimed at making the country self-reliant in oil production.
Among others the conference was attended by Chairmen PAPG Abdul Wahid Chughtai, SPE Syed Wamiq Bokhari, ATC Zafarullah and SPE President nominated for 2018 Darcy Spady, heads of leading E&P companies and senior officials of the Ministry of Petroleum and Natural Resources.
Darcy Spady said although Pakistan was a smaller player in oil and gas sector but it had the resources of bigger players, which needed to be exploited through modern techniques.
He said the E&P companies’ increased interaction with community in oil and gas producing areas, friendly environment, transparency in international capitals and fulfilling corporate social responsiblity were the basic elements to gear up exploration activities.