BUREWALA, Jun 10 (APP):Model Town police busted two notorious gangs and arrested three members of these gangs besides recovering looted valuables from their possession during a crackdown launched on Monday.
In line with special directives of the District Police Officer (DPO) Mnsoor Awan, Model Town police launched a crackdown against the criminals involved in depriving citizens of valuables at gunpoint.
The police busted two gangs and arrested three members of these gangs including the ring leader Bilal alias Mochi, Shujat and Sandal Abbas.
The police have also recovered looted valuables worth over Rs 3.5 million from their possession by tracing 42 cases from.
Further investigations were underway from the arrested criminals and more recoveries were expected, police sources added.
ISLAMABAD, Jun 10 (APP):The Senate on Monday unanimously adopted motion to pave the way for electing the house standing and functional committees under Rule 174, of rules of the procedure and conduct of business in the Senate 2012.
Moving the motion in the House, Senator Sherry Rehman said that under Rule 174 of the rules of the procedure and conduct of business in the Senate 2012, that the standing and functional committees may be elected by the Senate comprising members as per the proposed list.
The House may also authorize the Chairman Senate to make changes in the composition of said committees as and when it deems fit.
Speaking at the forum of the House, leader of the Opposition Syed Shibli Faraz thanked the treasury and opposition benches to show solidarity with him and said that such incidents could not deter their courage.
He said that the Senators should be accommodated in the committees as per their skills and expertise.
He further said that rules should strictly be followed in the Constitution of Standing and Functional Committees of the house. Without constitution of the committees within the stipulated time frame, the house would be dysfunctional and mere a debating club, he added. He urged to settle the committee issue once for all.
Law Minister Azam Nazeer said that today was a cut-off date for constituting the committees. Almost 95 per cent issue has already been resolved as per the rules, he added.
He said, we have required two committees including Finance and Planning and Development. Process has been initiated and remaining committee would be constituted within the due course of time, he said.
ISLAMABAD, Jun 10 (APP):Chairman Capital Development Authority (CDA) Muhammad Ali Randhawa on Monday said that people friendly entertainment projects would be initiated for the residents of the federal capital.
During the meeting with former Chairman CDA and bureaucrat Kamran Lashari, he said that similarly, many projects are under consideration for providing quality entertainment to the residents of the Islamabad.
The meeting was attended by the Members of CDA Board and other senior officers of the authority, said a news release.
Muhammad Ali further said that guidance would be taken from Kamran Lashari. He said that the services of Kamran Lashari are commendable in making Islamabad a beautiful city.
He briefed Kamran Lashari about the new projects to be started in Islamabad to enhance the beauty of city. The meeting also discussed operations and maintenance of the existing projects in the capital.
Kamran Lashari said that the needs and preferences of the citizens should be taken into consideration while developing the city and beautifying it, adding that Islamabad’s green character and natural landscapes make Islamabad unique, therefore Islamabad’s natural landscapes and greenery should be protected and nurtured.
He further said that along with new projects, maintenance of the already established projects is also important and the entertainment facilities should be established in Islamabad which is easily accessible for the residents.
ISLAMABAD, Jun 10 (APP): The National Economic Council on Monday approved in principle the 13th five-year National Development Plan alongside approving the annual economic growth targets for the financial year 2024-25 and macroeconomic framework for annual plan.
The meeting of the NEC, presided over by Prime Minister Shehbaz Sharif here, was briefed on the 13th five-year annual development plan. It was informed in the meeting that the key objectives of the plan include development of every part of the country especially the less developed areas, increase in exports, promotion of the small and medium industry, social protection and poverty alleviation, increase in the capacity building of the work force, and a framework to protect from the impacts of climate change.
The NEC directed the planning ministry to ensure the positive role of the provinces in the national economy and to present a comprehensive framework to increase the country’s exports.
The ministry was also directed to include the provinces in the consultation process to achieve the overall economic growth target of the country.
Prime Minister Muhammad Shehbaz Sharif in a group photo with the Chief Ministers of all four provinces prior to the meeting of National Economic Council in Islamabad on 10 June 2024.
The prime minister emphasized that the government would ensure the best utilization of the existing resource for revival of the economy and prosperity of the people.
He further said that in all important decisions regarding the economy, the Federation would ensure consultation with the provinces and other stakeholders so that as a result of the collective vision for the development of the country, such decisions were made that were positive and involved the consent of all.
“The National Economic Council is the biggest forum for important decisions regarding the country’s economy, which will be used for important decisions for the recovery of the economy,” he added.
The prime minister also directed the National Economic Council to set up a committee which in consultation with the provinces and other stakeholders, should formulate the proposals to not only make the Council active but also to harmonize it with the modern requirements.
The meeting was informed about the performance and the annual development projects for the year 2023-24 and proposals for the upcoming fiscal year 2024-25.
It was told in the meeting that the growth rate target for the upcoming fiscal year had been increased significantly.
The prime minister on the occasion said that as the agriculture sector was the backbone of the country’s economy, therefore consultation with the provinces for its development was very important.
He directed to ensure inclusion of the provinces’ proposals regarding agriculture and other sectors in the plan.
The Council was also informed about the national goals for the recovery of the economy and the measures to achieve them.
The meeting was told that measures such as production of export products, innovation of agriculture sector, artificial intelligence and information technology sector in line with international standards, sustainable and renewable energy, effective use of water resources, development of youth and women, effective and speedy implementation of the second phase of China Pakistan Economic Corridor (CPEC) would ensure development of the country’s economy in next five years.
The review of the development budget 2023-24 and proposed development budget 2024-25 was also presented in the meeting.
It was told that in the upcoming development budget, priority would be given to the projects under CPEC, those of foreign investment and the ones close to completion.
Besides the targets of the Sustainable Development Goals (SDGs) would also be included in the development projects while the less developed areas of the country would be given priority in the development plan.
A report on the performance of Central Development Working Part (CDWP) and Executive Committee of National Economic Council (ECNEC) for the period April 2023 to May 2024 was also presented in the meeting.
Earlier, the participants of the meeting prayed to Allah Almighty to grant eternal peace to Captain Muhammad Faraz Ilyas Shaheed and other soldiers who were martyred in the terrorist attack in Lucky Marwat on Sunday.
Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, federal ministers Khawaja Muhammad Asif, Muhammad Aurangzeb, Ahsan Iqbal and Ahad Khan Cheema, Punjab Chief Minister Marryam Nawaz Sharif, Sindh CM Syed Murad Ali Shah, Khyber Pakhtunkhwa CM Ali Amin Gandapur, Balochistan CM Sarfaraz Khan Bugti, Punjab Minister Marryum Aurangzeb, Sindh Minister Jan Khan Shoro, Advisor to the KP CM Muzamil Aslam, Balochistan Minister Zahoor Ahmed Buledi, State Bank of Pakistan Governor Jameel Ahmed and relevant high officers participated in the meeting.
FAISALABAD, Jun 10 (APP): Pakistan Muslim League-Nawaz (PML-N) Senator Talal Chaudhry on Monday said that the Federal Government was constitutionally authorized to levy taxes in the larger national interest.
Talking to media persons in Jaranwala, he strongly condemned the statement of the Khyber Pakhtunkhwa (KP) chief minister, saying as taxes were the lifeline of national economy, the government was determined to collect and then spend the same for the uplift of the country and the people’s welfare.
He termed the KP chief minister’s statement irresponsible and unconstitutional, and said that a major portion of the taxes collected by the Federal Government was distributed among the provinces to launch their projects.
He said that the Federal Government not only undertook development projects from the taxes but also paid salaries to the employees.
He said that Pakistan was at present facing severe financial constraints. “We should encourage tax culture so that the the government should not opt for stringent measures for revenue.”
FAISALABAD, Jun 10 (APP):Balochni police have registered a case against 12 farmers on charge of setting forest area ablaze near Chak 54/R-B.
Police spokesman said here on Monday that Imran Khan, an official of Forest Department, filed a complaint, contending that 12 farmers including Bashir, Abdul Shakoor, etc. put forest area on fire and caused severe damage to the trees as the accused wanted to illegally occupy the forest area.
When the staff of Forest department prohibited them from grabbing the land, the accused hurled threats of dire consequences besides producing severe resistance.
The police registered a case and started investigation for arrest of the accused who were still at large, he added.
ISLAMABAD, Jun 10 (APP):The National Assembly on Monday offered Fateha for Captain Muhammad Faraz Ilyas and six other soldiers who were martyred in Lakki Marwat landmine explosion.
Lawmaker of Sunni Ittehad Council (SIC) Ali Muhammad Khan led the Fateha on the request of the Speaker.
The House also offered special prayers for the early recovery of former Prime Minister Raja Pervaiz Ashraf.
Speaker Sardar Ayaz Sadiq informed the House that Raja Pervaiz Ashraf had undergone a medical procedure recently and is in stable condition.
ISLAMABAD, Jun 10 (APP): Minister for Privatization Abdul Aleem Khan on Monday informed the National Assembly that 24 state-owned enterprises, including the Pakistan International Airlines (PIA) would be privatized.
During the question hour in the House, the mister said that the PIA’s losses have reached Rs 830 billion.
He assured the House that PIA’s properties will not be sold; instead, a holding company will be established for these assets.
Abdul Aleem said that the all the codal formalities for the privatization of the PIA have been approved by the federal cabinet and the relevant institutions.
The minister said the Securities and Exchange Commission of Pakistan (SECP) has also granted approval in May 2024, adding that Privatization Commission has received twelve interests from investors including airlines in PIA, and the Privatization Commission board reviewed the matter on June 3.
The minister said the companies’ prequalification has been approved, and bidding is planned for August.
He said that out of PIA’s fleet of 34 aircraft, 13 are grounded, and only 20 to 21 are operational, adding that no employees would need to be laid off, and any airline taking control of PIA would utilize the existing staff.
The minister said the PIA’s privatization would follow a 49-51 percent model under a public-private partnership, with the government will hold 49 percent share.
He said no foreign company can purchase a 51 percent share, which is being sold to grant administrative control. Abdul Aleem reiterated that PIA’s properties, including the Roosevelt Hotel, will not be sold.
ISLAMABAD, Jun 10 (APP):Director General (DG) of the Federal Government Employees Housing Authority (FGEHA) Captain (Retd) Muhammad Zafar Iqbal on Monday directed the officials concerned to expedite work on the proposed new business model to provide modern and comfortable accommodations to registered members.
Presiding over a meeting to address various critical issues pertaining to infrastructure development and the enhancement of amenities within the housing authority’s jurisdiction, he emphasized the paramount importance of the infrastructure projects, particularly highlighting the significance of green spaces and gardens.
The DG underscored the commitment of FGEHA to ensure the provision of top-notch facilities to all allottees across apartment complexes and residential sectors.
Furthermore, Zafar Iqbal lauded the commendable efforts of key personnel including the Directors of Land, Staff, Finance, Admin, Enforcement, Planning, IT, and the Project Director to the successful execution of various initiatives within the authority.
Several pressing issues were deliberated during the meeting including water supply concerns in the G-13 and G-14 sectors, the imminent launch of the F-12 sector, and the forthcoming auction of commercial plots.
Resolutions were swiftly directed to ensure prompt redressal of these matters, with a firm commitment to prioritize their firmness.
Directors were tasked with specific targets and timelines, with a mandate to furnish weekly progress reports to ensure transparency and accountability.
In line with the directive of the Director General, immediate action will be taken to resume stalled projects, ensuring swift commencement of pending works.
Notably, the issuance of letters of Kashmir Avenue allotments will commence forthwith, reflecting the authority’s unwavering commitment to fulfilling its obligations to stakeholders.
FGEHA remains steadfast in its dedication to enhancing the quality of life for federal government employees by providing superior housing facilities and infrastructure and will continue to work tirelessly, the meeting remarked.
LAHORE, Jun 10 (APP):Federation of Pakistan Chamber of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has demanded further cut in policy rate.
In media statement issued here Monday, he cited that the policy rate cut announced today is too little and too late as the business, industry and trade community was expecting a substantive cut in the key policy rate of the State Bank of Pakistan vis-à-vis decline in core inflation.
Atif Ikram mentioned that core inflation has come down to 11.8 percent in May 2024, which is the lowest in the 30 months period, asserting that interest rate should come down to 15 percent to enable Pakistani exporters compete in the regional and international export markets through reducing the cost of capital substantially. This step should be accompanied with the fulfillment of government’s promise to rationalize electricity tariff for the industry.
The FPCCI President argued that consumer prices are categorically showing a declining trend as these fell by 3.2 percent in May 2024 compared to a decrease of 0.4 percent in April 2024 as per Pakistan Bureau of Statistics (PBS). It is now overdue to provide respite to the business community in their access to finance from commercial banks through effectively and appropriately reducing the key policy rate, he added.
He, on behalf of the entire business, industry and trade community of Pakistan, called for bringing transparency & consultation in the economic policy making.
In order to promote price stability, the FPPCI chief emphasized that SBP needed to break the inflation rate into cost-pushed and demand-pulled. He also recommended that the SBP should target core inflation; non-food non-energy (NFNE); for operational guidance. The SBP needed to strip out volatile changes in particular prices to distinguish inflation from temporary fluctuations in inflation. Efforts needed to be made to control price manipulation and hoardings in liaison with the respective federal and provincial government departments. An active and efficient Competitive Commission of Pakistan (CCP) and effective price control mechanisms also need to play their due role.
FPCCI Senior Vice President Saquib Fayyaz Magoon said that SBP should focus on core inflation rather than general inflation on an immediate basis as these exclude the most volatile components of the basket. The government should ensure the effectiveness of price control measures through vigilant actions against hoarding and malpractices.
Magoon explained that despite the progressive and major hikes in the policy rates from 9.75 percent to 22 percent over a period six quarters in 2022 and 2023, general inflation remained stubbornly-high and didn’t respond to the policy rate.
He stressed that despite the successful completion of IMF Stand-by Agreement (IMF-SBA) and 22 percent policy rate, Pakistan remains overwhelmed with issues dwindling exports and economic instability. This phenomenon well-establishes the fact that the government needs to employ other policy tools to tame the economic volatility.
