Islamabad: In the coming fiscal year, the government intends to borrow roughly $16 billion in gross foreign loans to cover maturing external public debt and finance the budget deficit.
According to Ministry of Finance sources, the expected $15.7 billion borrowings in fiscal year 2021-22 are roughly 10% higher than this year’s revised estimates of foreign economic assistance. They added that the final estimates may alter somewhat due to continuing discussions with the International Monetary Fund (IMF).
Over two-thirds of the foreign loans, according to the sources, will be used to repay maturing external public debt, excluding interest payments.
However, sources said that “The Ministry of Finance has estimated the gross receipts of $15.7 billion from bilateral and multilateral lenders, issuance of Eurobonds, the IMF, and commercial banks for fiscal year 2021-22.”
Moreover, “the new plan consists of floating $2 billion Eurobonds, contracting a record $4.9 billion foreign commercial loans and about $3.1 billion lending by the IMF has also been estimated.
Roughly $16 billion borrowings will be the highest-ever received by the country in a year.
Pakistan’s now $16 billion gross official foreign currency reserves held by the State Bank of Pakistan (SBP) are chiefly consist of borrowings due to the inability to the increasing non-debt. A constant surge in foreign loans is a another factor that has weakened the debt bearing capacity of the country.
Moreover, the present government is planning to address issues of some portion of this yawning gap with the help of foreign borrowings for the coming fiscal year.
In its April report, the IMF forecast SBP reserves at $17.8 billion, which will be hard to achieve without borrowings due to no significant rise in exports or foreign direct investment in the coming fiscal year.
International media has been revealed details claiming to reveal how little income tax US wealthy pay including Jeff Bezos.
According to ProPublica, it has recorded the tax returns of some of the uber-rich people in US including Jeff Bezos who paid no tax back in 2007 while, Elon Musk who paid not a single penny back in 2018.
The Federal Bureau of Investigation (FBI) and tax authorities are probing into the matter. A White house spokeswoman termed this lead as “illegal”.
However, the BBC has not confirmed the allegations as the claims come at a time of increasing debate about the “amount of tax paid by the billionaires” and “widening inequality”.
According to ProPublica, the wealthiest 25% of Americans pay less in taxes – an average of 15.8% of adjusted gross income – than the majority of US employees.
ProPublica senior writer and editor Jesse Eisinger told the “Today Show” “We were astounded to see that if you were a multi-billionaire, you could reduce it [tax] down to nothing. We were taken aback by the fact that multi-billionaire people of the US were paying no taxes. Ultra-wealthy individuals can circumvent the system in a completely legal manner.”
President Joe Biden has promised to raise taxes on the wealthiest Americans as part of an effort to improve equity and create funds for his enormous infrastructure investment plan.
Biden intends to raise the top rate of tax, double the tax on what high earners get from investments, and modify inheritance tax.
ProPublica’s analysis, however, concluded that, “While some wealthy Americans, such as hedge fund managers, would pay more taxes under the current Biden administration proposals, the vast majority of the top 25 would see little change.”
George Soros, one of the uber-rich people and a philanthropist, is reportedly said to have paid no tax. His office, in a statement said that Mr Soros did not owe tax a few years owing to the losses on investments, however, did not “reply to a BBC request for comment”.
Karachi: KE CEO Mr. Moonis Alvi expressed sincere gratitude to Minister for Energy, Hammad Azhar, for his vision & commitment to people of Karachi and especially for timely and kind intervention to address power situation challenges in the city.
The Minister also acknowledged prompt payment by KE for additional power. The Minister was apprised by KE CEO that currently only policy load-shed was being carried out in the city.
KE CEO @alvimoonis expressed sincere gratitude to Hon Minister @Hammad_Azhar for his vision & commitment to people of KHI & esp. for timely & kind intervention to address power situation challenges in Karachi. Minister acknowledged prompt payment by KE for additional power.(1/3) pic.twitter.com/ZPEv3qPbHs
Minister for Energy, Hamad Azhar also appreciated KE’s contribution to a greener Pakistan – with 250 MW of clean energy projects already and plans to invest in additional 350MW.
KE is fully committed to continue adding renewables to its energy mix. The utility had also committed to plant 0.5 million trees of which 300,000 have been already planted.
CEO KE Mr Moonis Alvi also expressed thanks to the Prime Minister Imran Khan, Governor Sindh Imran Ismail and the Government of Pakistan for addressing issues of the people of Karachi.
Karachi: The International Maritime Organization (IMO)has certified Byco’s Oill Spill Response (OSR) team for achieving Level II & III professional training and certification.
Byco is the only Pakistani oil company having a dedicated Oil Spill Response team capable of managing oil spills, whose members are IMO certified.
Mr. Azfar Saeed Baig, Vice President, Byco Petroleum Pakistan Limited, recognizing the achievement, commented: “This achievement reflects Byco’s commitment to safety, strengthens our position as Pakistan’s only oil refinery that is fully equipped to effectively handle oil spills.
We aim to create a Centre of Excellence for professional training and development among our workforce.”
Innovation is part of Byco’s DNA, being the nation’s only firm establishing its own dedicated Single Point Mooring (SPM), a floating liquid port 15 km in the deep sea off the coast of Balochistan. Byco’s SPM has been operating safely since 2012, having imported almost 15 million tons of crude oil to date without any oil spill incident.
The SPM operates throughout the severe monsoon seasons, which was previously considered impossible for the area.
Byco’s SPM employs a highly trained crew around the clock, with extensive and diverse experience in the Marine sector and well-versed in Oil Spill Response. Byco is the only oil company in Pakistan having Tier-I Oil Spill Response capability in-house.
Through standby arrangements respectively with the Pakistan Navy and OSRL (the world’s leading Oil Spill Response Company) Byco can manage a Tier-II and Tier-III oil spills as well.
About Byco: Byco Petroleum Pakistan Limited (BPPL) is one of Pakistan’s leading energy firms, engaged in the businesses of oil refining, petroleum marketing, and petroleum logistics. Byco’s mission is to meet the nation’s energy.
The Company manufactures a wide range of petroleum products with a vision to achieve sustainable productivity and profitability while upholding high environmental, health and safety standards.
Byco is Pakistan’s largest oil refiner by design capacity, and is the nation’s only firm having a dedicated Single Point Mooring (SPM).
Byco’s SPM is the only floating liquid port in the country, and the company employs a round-the-clock crew dedicated for the safety and security of the buoy and vessels in and around the SPM’s anchorage area. The SPM is Pakistan’s only terminal having a Tier 3 oil spill response membership.
Byco refines crude oil into various marketable components including Liquefied Petroleum Gas, Light Naphtha, Heavy Naphtha, High Octane Blending Component, Motor Gasoline, Kerosene, Jet Fuels, High Speed Diesel and Furnace Oil.
Byco is proud to have the largest capacity crude oil storage tanks in the country. Byco’s marketing network supports retail outlets in more than 80 cities all over Pakistan and is an emerging player in Pakistan’s oil marketing sector.
Byco’s diverse and highly skilled workforce consists of approximately 900 dedicated employees across the firm’s divisions.
Islamabad: In the presence of Mr. Malik Amin Aslam, Prime Minister’s special assistant on Climate Change unveiled a first of its kind Reverse Vending Machine (RVM) for plastics at the Jinnah Super Market, Islamabad.
The machine makes it convenient and rewarding for people to recycle on the go. Plastic bottles of any brand can use in the machine. The RVM itself is like a vending machine in reverse.
Consumers press the start button on a touch screen, and the RVM opens up a slot to receive the plastic bottle. Once deposited, the RVM compresses the PET so that it is ready for the next steps of recycling.
The RVM is part of the company’s larger strategy and intent to take meaningful steps towards tackling the issue of plastic waste. Earlier this year, PepsiCo announced the country’s largest plastics collection and recycling project under the Prime Minister’s Clean Green Pakistan program.
Making steady progress towards this goal the company announced more than doubling its existing targets for plastic collection and recycling.
PepsiCo Pakistan will scale up its existing 4750 tons plastics collection program by adding another 5500 tons making a total of 10,250 tons of plastics to be collected and recycled in 2021.
The program is implemented by PepsiCo’s partner Green Earth Recycling and its progress is being monitored by WWF-Pakistan.
Both these important announcements come in the buildup to the world environment day which is being proudly hosted by Pakistan this year.
Prime Minister’s special assistant on Climate Change Mr. Malik Amin Aslam commented, ‘’ All of us will have to work together to truly address the plastic issue. The RVM machine is a way of making that connection with the public and encouraging them to recycle.
I’d like congratulate PepsiCo on its continued efforts on the plastic agenda, I am particularly happy to see the progress on its plastics collection and recycling program’
Mr. Furqan Ahmed Syed, PepsiCo CEO Pakistan and Afghanistan commented that ‘ The RVM is part of our multi-pronged strategy to invest to increase recycling rates in key markets through campaigns that encourage consumers to recycle and partnerships to increase and improve recycling infrastructure on the whole.
We have already launched a collection program for 4750 tons of plastic earlier this year. We are today more than doubling this target and increasing the total collection to 10,250 tons. This will continue to be the largest plastic waste collection program in the country.’’
Packaging waste is an urgent global problem. While plastic is a lightweight and highly effective packaging material that helps to keep food safe, accessible, and affordable, PepsiCo estimates that only 14% of what is used is effectively recycled.
This will require fundamental changes in how packaging is made and disposed of, along with rethinking its forms and functions.
PepsiCo envisions a world where plastics need never become waste. The company shares concern over the growing threat that packaging waste poses to communities and the environment.
As a global leader in food and beverages, it believes it has an important role to play in making sustainable packaging a reality.
Karachi: Patron-in-Chief Korangi Association of Trade & Industry (KATI) SM Muneer and President Saleem-uz-Zaman praises the appointment of Senior Vice President of Pakistan Tehreek-e-Insaf (PTI) the Karachi Division, Mehmood Moulvi as Special Assistant to Prime Minister Imran Khan on Maritime Affairs.
Welcoming the move, they said that Mehmood Moulvi is a beloved personality of the industrial and business community of the country. Mahmood Maulvi is highly regarded in business, political and social circles for his ability and wisdom.
Earlier, Mahmood Maulvi had been performing his duties as an advisor to the Ministry of Coastal Affairs in a very cheerful and skillful manner. During this time he played a key role in resolving employee issues.
Mehmood Moulvi has vast experience in maritime affairs. They hoped that Mahmood Maulvi, now in a very important position, would play his full role in identifying and resolving all issues related to the business community, port and shipping and coastal affairs across the country.
Karachi: Korangi Association of Trade and Industry (KATI) Patron-in-Chief SM Muneer and President Saleem-uz-Zaman welcomed the announcement of Prime Minister Imran Khan’s youth employment program, saying it was an important initiative in reducing unemployment in the country.
SM Muneer said that due to Corona epidemic, global unemployment including Pakistan has increased. However, timely measures taken by the government including SBP loan for wages scheme contained unemployment.
He said that providing vocational training to the youth is of utmost importance.
Saleem-uz-Zaman said that youth should focus on small business instead of relying on employment.
He urged the government to introduce a scheme for setting up industries for the youth in the industrial areas so that the tendency of the youth to do business would increase and the process of industrialization in the country would increase.
President KATI said that we are ready for all possible cooperation with the government in this regard.
President KATI said that industrial development in the country would lead to economic growth and increase employment opportunities for the underprivileged.
Saleem-uz-Zaman conveyed the message to the youth that due to Corona, there is a great opportunity for the youth to take advantage of the growing demand in global exports.
Karachi – Taha Dilam: Recognizing Karachi’s industries as the backbone of the nation’s economy, KE reiterated its commitment to the prosperity of the city and assured its customers that it is working untiringly towards the vision of a thriving metropolis.
This commitment is underpinned by the investment of over PKR 375 billion since the company’s privatization which continues even today.
The utility expressed its concerns over the recent exaggerated statements made by certain industrial groups in an appeal to the Honorable Prime Minister, which appeared to portray a contrary image based on incomplete or inaccurate information.
Contrary to the claims of discrimination, customers across Karachi and its adjoining areas including Dhabeji and Hub, are billed according to tariff notified by the Ministry of Energy which is uniform across the country.
This highly regulated environment does not allow any unilateral changes to the category-wise tariff rates by any individual distribution company.
While state-owned Distribution companies registered a collective increase of 1% in their Transmission and Distribution (T&D) Losses, K-Electric has successfully reduced its T&D losses from 35.9% in 2009 to 16.9% (as of April 2021), reflects that KE is well on track to meet its T&D loss target of 16.8% for FY21, and the regulator maintains a close watch on the progress, holding KE accountable.
This milestone progress has only been possible due to KE’s investment across its transmission and distribution value chain that has almost doubled the number of PMTs, added 19 grids, and extensively enhanced the transmission and distribution capacity of the system as well.
It is worth mentioning that more than 75% of Karachi today also stands load-shed free, which all of Karachi used to suffer with at the time of privatization.
Another bizarre claim made without any due consideration posited that KE is utilizing inefficient power plants, whereas the company has added more than 1057 MW to its generation fleet through 4 generation plants having efficiency levels of over 40%.
Above all, KE’s flagship US$650 million 900MW RLNG based BQPS-III power plant having efficiency of almost 60% is in final stage of commissioning whose efficiency is comparable with state-of-the-art power plants at regional level. Even BQPS-I, the oldest plant in KE’s fleet, has a higher efficiency than comparable units of other Generation Companies in Pakistan.
The utility also dismissed claims that KE has been receiving “100s of billions of rupees” in subsidies from taxpayers’ funds, when KE has no control in the entire mechanism at all.
Also, since privatization KE has not received any operational subsidy form the Government of Pakistan.
KE passes 100% of the benefit of the Tariff Differential Subsidy to customers in advance and enters into the process of seeking reimbursements with the Government, which entails a lengthy process and creates additional burden on the company as it has to borrow from financial institutions to finance its working capital requirements.
Time and time again, the company has highlighted the growing strain on its financial sustainability, which remains to be resolved.
KE has been working closely with the 7 industrial associations of Karachi and all associated chambers that represent Karachi’s business leadership, establishing a consultative process to incorporate their insights and jointly drive progress in the city.
KE’s financial records, challenges, and earnest and eager efforts to elevate Karachi’s profile are part of public record.
It is disheartening to see these undermined by statements issued when the forums for dialogue are several and always available and KE requests all stakeholders to use these forums constructively and come together for a thriving and prosperous Karachi.
Karachi: Spokesperson of Sindh Government and Advisor for Law, Environment & Coastal Development Barrister Murtaza Wahab has said that everyone should cooperate with the government to stop the spread of corona virus as it is not possible to control the corona virus without the cooperation of the people.
He expressed these views while addressing the inaugural function of the Vaccination Center at the office of the Federal B Area Industrial Association (FBATI) here today.
When Barrister Murtaza Wahab arrived at the Vaccination Center office, he was received by Fabati President Muhammad Ali. He visited the vaccination center and met with visitors. “By implementing SOPs, we can control this deadly epidemic, so every citizen must be vaccinated,” he said.
He also said that the Sindh government has provided vaccination facility in industrial areas, press clubs and educational institutions so the citizens should make use of this facility and get vaccinated.
“I will ask the traders to persuade the industrial workers to get vaccinated,” he added.
People under the age of 40 have difficulty registering. We will take up the matter with the NCOC to reduce the difficulties. Vaccination is essential for the resumption of industrial activities.
Responding to questions from journalists, the Sindh government Spokesperson said that Sheikh Rashid had said a lot about the railways.
Today Azam Swati says the railway is ruined. Law and order has been improved in Sindh. Where are the weapons coming from in Sindh? The Home Minister needs to improve the monitoring of the provincial border.
He said that people get angry when the administration is strict and when even if the administration is not strict, the people are angry. A restaurant was operating in Clifton and DC and police were dispatched.
Citizens were present in this restaurant. Police, Rangers, Doctors are the front line. “I don’t think there should be an age limit for vaccinations.
There should be walk-ins for vaccines,” he said.
” Chief Minister Sindh will leave Shikarpur for Badin. The Chief Minister is with the people.
Fazlur Rehman is a senior politician, however he cannot dictate our policy because the politics they are talking about is immature” he concluded.
Karachi: All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association (PFVA) has announced mango export target as 150000 metric tons for the current mango season which would fetch valuable foreign exchange of USD 127.5 million once the target is attained.
The Patron-in-Chief stated that last year the export target of mango was set as 80,000 tons keeping in view the drastic significant negative impact on economy due to COVID-19 Pandemic and subsequent logistics challenges, however due to an extra-ordinary demand of mangoes globally, the export was enhanced to 140000 tons, generating valuable foreign exchange of US$ 120 million.
Patron in Chief PFVA Waheed Ahmed
Waheed Ahmed informed that on one hand Pakistani mango industry of Rs. 100 billion is facing serious issues of climatic changes and scarcity of water while on other hand, limited flight operations, restrictions by numerous destinations on flights & higher air freights increases cost of export, contrary to the last year, the export of mangoes via sea this year faces stiff challenges due to shortage of reefer containers and high freight cost.
PFVA sets current season mango export target
Of the total export volume of mangoes, 55% is exported by sea, 25% by land routes and 20% by Air.
The PFVA has urged the Govt. of Pakistan (GoP) that the promising International markets of Russia & China shall be focused for export of mangoes having immense export potential and strongly recommended to conduct Mango promotions for wide publicity of mangoes – Waheed Shared.
He further added that by following realistic strategy under patronage of the GoP, Pakistan can be included in the list of top three mango exporting countries of the world within a period of 4 – 5 years, however to accomplish that it is imperative to focus our attention on high value markets such as Japan, USA, Australia, South Korea & China.
He stressed upon the need for an extensive Research & Development (R&D) to improve quality & cosmetic look to get an easy access to these markets which have strong faith in “quality & impressive appearance” of the fruit.
Waheed disclosed that climatic changes are having serious negative impacts on the crops of mangoes for the last five years resulting in shortage of mango production coupled with further addition of two weeks in the harvesting period of the mango crops & besides delay in maturity of the mango crops the resilient capability of mangoes against various diseases is also getting weakened.
Due to these factors, the current mango season is likely to witness significant drop in production of mangoes.
The overall production of mangoes in the provinces of Sindh & Punjab is anticipated to be 1800000 tons, however due to effect of the climatic changes the possibility of reduction in production by 15% can not be ruled out.
According to Waheed Ahmed, the comprehensive research process to evaluate serious impacts of climatic changes on mango crops as well other major crops has not yet been initiated which could have otherwise provided guidance to the farmers & growers and advice for precautionary measures to curtail low productivity and reduce financial losses.
The PFVA has already shared with the Federal & Provincial Govts., it’s comprehensive and realistic research & development plan being an integral part of the “Horticulture Vision-2030”, a road map developed by the PFVA for the uplift of the Horticulture sector & by implementation of this vision in letter & spirit, the effect of the climatic changes can be drastically minimized.
Waheed emphasized that in order to accomplish the mango export target – cohesive team work, support, cooperation and co-ordination among all stakeholders including Department of Plant Protection (DPP), Customs, Sea & Airport authorities is imperative.
Islamabad: Delegation of Pakistan Tea Association led by Chairman Aman Paracha meets Prime Minister’s Advisor on Commerce and Trade Abdul Razzak Dawood in Islamabad with the patronage of FPCCI.
Chairman Tea Association Aman Paracha highlighted various ambiguities & anomalies in the Custom duties during the meeting.
He further added that if these anomalies get eliminated then the exchequer will receive more revenue which is currently collected.
PTA has requested relief on duties. Tea has to be considered as a food item, not as a luxury product.
The delegation also held a meeting with FBR officials and demanded tax rationalization in order to provide a level playing field to all Tea importers, including Tapal and Unilever had assured their full support in PTA’s stance.
Karachi: Chairman Pakistan Leather Garments Manufacturers and Exporters Association (PLGMIA) Danish Khan has strongly condemned the FPCCI advertisement.
He said that FPCCI used the name in the advertisement published in the newspapers yesterday without the permission and consent of PLGMEA, which he denied.
PLGMEA has nothing to do with the advertisement and no such opinion. “We are free to express our position without using the platform of FPCCI,” he said.
The FPCCI has acted unethically by using the name of the Leather Garments Association members without the permission of PLGMEA.
Article Published in Newspaper
He said that the Federation of Pakistan Chambers of Commerce is the apex body of the business community and such high-handed tactics do not beautify such a credible institution.
Such measures have tarnished the image of the institution.
Danish Khan said that PLGMEA was not part of the advertisement and the position presented in it was personal to the FPCCI.
Chairman PLGMEA demanded FPCCI to apologize from PLGMEA for their biased advertisement and refrain from taking such steps in future. PLGMEA reserved the right to take legal action on such issues.
KARACHI: The meeting of the core committee chaired by Prime Minister Imran Khan ended.
According to sources, discussions and accountability were discussed with Jahangir Tareen Group.
PM Imran Khan made it clear that no pressure would be accepted on matters of accountability.
During the meeting the growth to 4%, remittances and foreign exchange reserves were also discussed.
The committee expressed confidence in the PM Imran Khan’s leadership and the economic policies during his tenure.
It was mentioned in the core committee, on Sunday, that the achievements in economic goals should be highlighted to the masses.
Moreover, the candidates in Azad Kashmir elections should be selected on merit.
Premier Khan also directed the working committee to begin preparations for the local body elections and instructed that the workers of all levels should be mobilized for the local body elections.
Pakistan Tea Association (PTA) meets Federal Board of Revenue (FBR) officials and suggests to amend and finish the anomaly on wealth tax on import of bulk packing tea in Pakistan.
Bulk tea is a raw material, at import stage for all importers, 2 types of different tax distinguish for withholding tax at import stage that cut government’s revenue and create unbalance and ambiguity in official trade. Therefore, PTA has recommended Government and FBR that Tea, when imported, should be treated in table 2 of the 12th schedule and charge a 2 pct wealth tax on all imports of bulk packing tea.
Doing this will not only increase the revenue but will also bolster legal trade in the country.
When FBR will implement and rationalize the wealth tax rate on Tea for all importers and will treat in table 2 of 12th schedule, will consequently undo all exemptions of wealth tax
Therefore, this way playing field for all importers will be provided. This will also skyrothe cket government’s revenue, as well as stop the leakages of billion of Rs in govt revenue and recover it.
Chairman Pakistan Tea Association Aman Paracha also said that two types of different policies in same trade is not beneficial for revenue. Therefore, government should prefer to rationalize equal tax tarrifs in order to get fruitful results.
He also mentioned that “the vision of our PM is the also same to halt further irregularities in the system and provide relief to the common man.”
Islamabad: Federal Minister for Information Technology and Telecommunication Syed Amin ul Haque has said that, Digital and Information communication technology is a beacon of hope & progress, enabling billions of people around the world to connect & interact.
In his Important Statement on World Telecommunication and Information Society Day, the Minister said that, Today, the World is different because of the pandemic, evolving technology, the times have changed. We are in an information society where information is the most significant aspect of society.
“The main objective of World Telecommunication and Information Society Day is to raise global awareness of social changes brought about by the Internet and new technologies” It also aims to help reduce the digital divide, He added.
Syed Amin ul Haque said, The World Telecommunication and Information Society Day reflects on the ICT advances for transition to smart and sustainable development. It focuses on specific ICT-enabled solutions and emerging trends for fostering economic, environmental, and social sustainability, innovation, partnership and acceleration Digital transformation in the challenging times.
He said that during the COVID-19 pandemic, connectivity became the foundation of all sustainable development pillars and the use of Telecommunication and Internet came as a utility.
Under current ongoing pandemic connectivity with loved ones, with schools and colleges, with workplaces, with healthcare professionals and essential supplies– are more important than ever. World Telecommunication and Information Society Day reminds us that international cooperation on digital technology is essential to help defeat COVID-19 and achieve the 2030 Agenda for Sustainable Development.
Amin ul Haque said that the International Telecommunication Union continues to work with the information and communication technology community and UN agencies to help manage and end this crisis, and recover better.
Pointing on current scenario, the Minister said that Telecommunication technologies, from real time broadband connectivity and big data to cloud computing and artificial intelligence, are powerful tools and means to tackle the world’s most pressing challenges, including the pandemic diagnostic, monitoring and standard operating procedures.
We need to collaborate and multiply our efforts to connect everyone to the global digital economy, and that for those connected, more must be done to ensure that connected life is safe and trustworthy with inclusion of technology.
On this Day and for this new decade, let’s harness information and communication technology to accelerate social, economic and environmentally sustainable growth and inclusive development for everyone, everywhere during the challenging times of pandemic.
IT Minister while highlighting the efforts said Pakistan , specifically with the focus of the SDG’s and with the focus on unserved and underserved areas has contributed approx.
30 Billion PKR to ensure connectivity and broadband services with the aim of Internet for all as utility in collaboration of Universal Service fund that will serve millions of underserved citizens in the remote and rural areas of Pakistan in ongoing program of Ministry of IT & Telecommunication under vision of Prime Minister citizen centric vision of Digital Pakistan.
It is crucial to mention here that on this specific day Pakistan has reached the mile stone of more than 100 Million + Internet subscriber and 181 Million + connected subscribers with the status given to telecom Sector as Industry in 2021.
Bringing societies and economies together by the ways to bridging the digital divide is the main agenda of the Government to accelerate digital transformation in challenging times. IT Minister said.
Karachi: During the global Pandemic COVID-19 , the demand of kinnow surged significantly as it played a vital role in strengthening the human immunity system safeguarding against the deadly disease.
During the export season concluded in April 2021, Pakistan exported 460000 ton Kinnow to forty countries globally, which was 30% higher compared to the last year’s export volume of 353000 tons. Pakistan earned valuable foreign exchange of USD 253 million through export of kinnow.
According to Waheed Ahmed, Patron-in-Chief, All Pakistan Exporters, Importers & Merchants Association (PFVA), the Ministry of Commerce (MoC) and in particular due to extensive assistance & timely decisions by the Advisor to the Premier Abdul Razzak Dawood, Pakistan witnessed a new record export of Kinnow, being the highest volume in the export history of Kinnow.
Though the export target of Kinnow for year 2020-21 was 350000 tons, expected to fetch USD 210 million for the country but due to the commendable efforts and extensive assistance by the GoP, the country attained higher export volume against the anticipated export target.
Despite record export of Kinnow, the exporters sustained huge financial losses since the exports’ orders materialized at the exchange rate of one USD equivalent to PKR 168 while by the time payment was to be made to the exporters, the rupee attained stability against the USD and stood at exchange rate of USD I = PKR 153.
Keeping this fact in view, the exporters had a clear option to contain the export volume of Kinnow instead of sustaining huge financial losses, however due to deplorable state of country’s economy, the exporters kept supreme interest of the country above on their own interest with a view to fetch much needed foreign exchange for the country – Waheed Ahmed proudly stated.
Pakistani Kinnow could not get fair price due to lockdown in International markets while disproportionate increase in the cost of freight further multiplied the huge financial losses significantly, the highest loss was sustained in the Russian market – Waheed Ahmed deplored.
The export consignments of Kinnow could not reach to the International export markets due to lockdown & problems in transportation leading to quality issue of the consignments, while numerous export consignments simultaneously reaching to many International markets due to issues of logistic support ultimately resulted in damping, thus even cost of the exports’ shipments could not be recovered and the exporters sustained huge losses, the Russian market being the worst in terms of enormous losses.
The Kinnow exporters shall be extended support by the GoP who despite paying fair price to the growers according to the quality of Kinnow sustained huge losses and if the serious issue of, the exporters are confronted with is not addressed, the years to follow is likely to witness negative impact on export of fruits & vegetables from Pakistan besides badly affecting the growers as well – Waheed Ahmed emphasized.
At the time of stiff challenges to the export by Air & Sea, the MoC rendered all possible assistance to the exporters and responded promptly, more than often resolving the issue being a barrier to the export in less than 48 hours as and when requested by the PFVA and thus the credit of this brilliant achievement of an ever highest export volume of Kinnow goes to the commendable efforts by the MoC, in particular to Abdul Razzak Dawood, the Advisor to the Premier – Waheed Ahmed acknowledged.
Recalling the tough days, Waheed Ahmed stated that during the COVID-19 pandemic, export of Kinnow was suspended to Afghanistan & Iran due to closure of borders, however on appeal of the PFVA the MoC & Ministry of Interior played an active role, facilitating export of Kinnow on priority basis as soon as the borders were re-opened.
Likewise, due to keen interest & timely initiative of the MoC, the national Airline also facilitated export of fruits and vegetables. The PFVA also exported Kinnow to the UK after a long gap of seven years as the UK exited from the European Union.
It was again the initiative and sincere efforts by the Advisor to the Primer Abdul Razzak Dawood , playing a vital role in removal of a barrier of the CESS (a sort of an exceptional heavy import duty imposed by the Sri Lanka on Pakistani Kinnow) which was brought to his attention by the PFVA, enabling exporters to compete comfortably in the Sri Lankan market.
Waheed Ahmed also acknowledged strenuous efforts made by the Ministry of National Food Security & Research (MNFSR) & the Department of Plant Protection (DPP) for ensuring timely issuance of the Phyto-certificates during lockdown and permitting smooth movement of exports’ consignment by reducing time of inspection. The DPP by enabling easy procurement of the Phyto-certificates facilitated the exporters and made it possible to go “beyond export target” achievement – Waheed Ahmed praised
It was a remarkable success achieved by the Foreign Minister, Shah Mahmood Qureshi during his recent visit to Iran in getting consent of the Iranian Govt. to withdraw ban on export of Pakistani Kinnow which would further enhance export of Kinnow in future as this market can accommodate export volume of more than 80,000 tons – Waheed Ahmed acclaimed
Waheed Ahmed shared that the volume of Pakistani Kinnow Industry is Rs. 125 billion while the industry of Citrus fruits faces numerous stiff challenges which includes – outdated orchards having less resistance against various diseases, low quality seeds, problems of poor cosmetic look, limited varieties besides short export window season of three to four months. The Horticulture vision -2030 (HV-2030) of PFVA highlights comprehensive strategy and spells out medium term policy, placing high emphasis on uplift of Kinnow by eliminating diseases from the existing varieties & development of new varieties with high yield per acre through research & development. The existing export of Pakistani Kinnow can be enhanced to USD one billion within a few years by effective implementation of the policy highlighted in the Horticulture Vision.
The Federal Govt. has fully agreed to the HV-2030 and in light of this policy the GoP has already initiated practical steps which would lead to an improvement in quality of fruits and high yield resulting in further multiplication of exports of this sector in years to follow.
All the concerned departments, Customs, Sea ports authorities, Quarantine department (DPP), MoC, MNFSR, Shipping and Logistic companies deserve appreciation for playing a very supportive role enabling the PFVA to attain the highest export volume of kinnow – Waheed Ahmed paid rich tribute.
He strongly anticipated that this splendid team work and joint action would continue in future ensuring consistent growth of the Kinnow industry in future.
Karachi: Governor Sindh Imran Ismail visited K-Electric’s Bin Qasim Power Station-III (BQPS-III) project to review the progress on the latest addition to Karachi’s power network.
The visit followed a meeting between KE’s Senior Leadership and the Governor Sindh where KE presented an update on the company’s preparedness for Ramadan and the 2021 summer season.
BQPS-III is a USD 650 million project which will be adding 900 MW of generation capacity to KE’s existing network.
This mega-project is progressing on the back of close collaboration between leading engineering firms who are partnering with KE to achieve a shared vision of empowering Karachi.
Work is progressing swiftly, and the first unit of 450 MW is over 70% complete and is expected to come online in the next 5 to 6 weeks.
The high-efficiency plant will be utilizing RLNG as its primary fuel source. Not only is this expected to reduce the carbon footprint, the inclusion of RLNG will further diversify the company’s fuel mix and bring savings by lowering import costs for the government by eliminating the need for furnace oil.
KE officials were joined by senior representatives from Siemens, SSGC, and PLL, who apprised the Governor of the progress on the construction of a spur pipeline which will be supplying 150mmcfd of gas to BQPS-III, which is keeping pace with the plant’s progress and is also over 90% complete.
The underlying Gas Supply Agreement between SSGC and PLL is also in advanced stages and is expected to be finalized as soon as necessary approvals are received from the Government, ensuring an adequate supply of fuel to energize the plant.
Commenting on his visit, Governor Imran Ismail said, “The sincerity of the Government of Pakistan is evident in the support they have extended to KE, and I am pleased to see that Sahar and Iftar times during this Ramadan are exempt from load-shed as a result.
I’m monitoring the situation daily to ensure that the best possible facilitation is given to the citizens of Karachi.
Seeing the scale and progress of work and the commitment with which KE is working, I feel positive for the future of the city.
KE’s management and representatives from Siemens, SSGC, and PLL have assured me that they are working to complete the project on time, and I have instructed them to resolve any bottlenecks that may affect the energization of the plant which is expected to be inaugurated by the Honorable Prime Minister.
In this process, I have also assured them of my fullest support from my office and from the Government of Pakistan.”
CEO K-Electric, Moonis Alvi said, “We’re grateful to the Governor Imran Ismail sahab and our partners at Siemens, SSGC, and PLL for visiting BQPS-III today.
The timely execution of this project is critical to meet Karachi’s future demand, and we are all working around the clock to ensure the same.
I also want to commend the Government of Pakistan for their support to KE and Karachi, especially during Ramadan which has enabled us to fully support Karachi’s power requirements. We look forward to this support in the summer months as well.
Without their assistance and collaboration, it would not be possible for us to realize this dream for Karachi.”
Speaking with media during his visit to under construction BQPS-III site, Mr. Imran Maniar, Managing Director Sui Southern Gas Company Limited (SSGCL) said, “It is very important for us to work together with KE which is also our largest customer.
Timely energization of this plant is necessary and we are working with KE to ensure their RLNG requirement is met. SSGC is pleased to be playing its role in this process.”
Karachi: Diplomatic relation between Peoples Republic of China and Pakistan was established on 21 May 1951.
Although people to people understanding between two countries is exemplary hoverer cultural understanding between businesses and people can be improved.
For the purpose China Pakistan Study Center (CPSC) at Institute of Strategic Studies Islamabad (ISSI) and RINSTRA signed memorandum of understanding.
The memorandum of understanding was signed by Dr. Talat Shabir Director China Pakistan Study Centre and Amir Jahangir Chief Executive Officer RINSTRA Technologies.
Speaking at the occasion Director General Institute of Strategic Studies Ambassador Azaz Ahmad Chaudhary said “The ISSI provides a platform for quality policy input through informed research, objective analysis and dialogue on regional and international issues affecting peace, security and development of Pakistan.
We are confident that this partnership will create knowledge resources among the youth and the business community alike while providing strategic direction for policy makers”.
On the signing of the MOU Dr. Talat Shabir Director ISSI said “The memorandum of understanding underlines to build cultural, business and economic cooperation and understanding.
The partnership will also highlight China and Pakistan’s cooperation and implication for the region and the world .This partnership will help building people to people relationships, Government relations in defense cooperation and societal collaboration for building knowledge ecosystems
Amir Jahangir Chief Executive Officer RINSTRA Technologies said “In this new era of information engagement it is important to build the vocabulary and understanding around the partnerships that both Pakistan and China are striving for.
This cooperation between CPSC and RINSTRA will set new benchmark for understanding around the future challenges for our international partnerships.
Public diplomacy discourse”
This partnership is being signed to build better understanding among the masses and the business community in both China and Pakistan. The partnership will also facilitate content development in Mandarin, Urdu and English.
More than 60,000 Chinese expats live in Pakistan and more than 20,000 Pakistani students are studding in Chinese universities.Pakistan exports to China stood at US$1.87 Billion during 2020.
Multi billion dollar China Pakistan Economic Corridor has strengthened China Pakistan partnership yet there is much more work required in People to People Relationship Building in Knowledge Development.
Established in August 2016, the China Pakistan Study Center is the leading thinktank in Pakistan, focusing on public policy, diplomacy and building cultural understanding between China and Pakistan. Considering the evolving regional and global scenarios, CPSC has been tasked with carrying out dedicated research and analysis of China’s policies, and their impact on Pakistan and the region.
CPSC is also engaged in national and international outreach to promote better understanding of Pakistan-China relations, develop linkages with think-tanks in China and advance people to people contacts.
Following the apparent burial of the hatched by Prince Harry and Prince William, Prince Charles is now said to be in contact with his estranged son.
According to sources, the Prince of Wales intends to confront the Duke of Sussex privately after their “trip across Windsor,” where they will discuss the accusations made by him and wife Meghan Markle against the Firm, as well as their fraught relationships with the royals, including Charles.
“There has been speculation that Charles will stroll around Windsor with Harry to see some of the tributes and enjoy some time together,” a source told the outlet.
In an interview with Oprah Winfrey, Harry revealed that his father had “hurt” him by failing to condemn the racial bullying Meghan endured as a member of the royal family.
The Indian media has started rumors of backchannel negotiations between India and Pakistan, as both nuclear-armed neighbors’ foreign ministers will be in the UAE today (Sunday).
On Saturday, Foreign Minister, Shah Mehmood Qureshi arrived in the UAE and will meet with his counterpart Sheikh Abdullah bin Zayed Al Nahyan and other UAE dignitaries.
S Jaishankar, India’s External Affairs Minister, will also arrive in the UAE today to hold talks with the UAE government on a variety of matters, including economic cooperation.
Sheikh Abdullah Bin Zayed Al Nahyan, UAE Foreign Minister, has welcomed Jaishankar to Abu Dhabi.
Arindam Bagchi, India’s Ministry of External Affairs spokesperson shared a tweet on Saturday that read, “at the invitation of his counterpart, EAM @DrSJaishankar will be visiting Abu Dhabi on 18th April 2021. His discussions will focus on economic cooperation and community welfare.”
Since both India’s and Pakistan’s foreign ministers will be in the same country for the next few days, the Indian media couldn’t help but speculate on backchannel talks between the two countries to reduce tensions.
The speculation surfaced following the acknowledgment by the UAE’s ambassador to Washington that the Gulf state is mediating to achieve a “positive and working” partnership between India and Pakistan.
“The Ministry of External Affairs has announced that External Affairs Minister S. Jaishankar will visit Abu Dhabi on Sunday. The visit comes amid claims that the UAE has been stalling back channel talks to reopen dialogue between India and Pakistan “The Hindu, a well-known Indian news website, reported on the situation.
“However, the fact that the Indian and Pakistani foreign ministers will be in the same position at the same time will draw notice,” wrote The Times of India.
However, Pakistan has refuted Indian reports of any meeting taking place between two countries.
In response to a question about whether the two had planned a bilateral meeting, FO spokesperson Zahid Hafeez Chaudhri stated:
“No such meeting is scheduled during Foreign Minister Shah Mahmood Qureshi’s ongoing visit to the UAE.”
In the midst of the worsening coronavirus situation, Pakistan reported 149 new deaths on Saturday, making it the country with the second-highest coronavirus fatalities since the pandemic began last year.
This is also the highest number of coronavirus deaths recorded this year, indicating that the coronavirus’s third wave is spreading through Pakistan.
The country’s highest death toll from the virus was reported on June 19, 2020, when 153 people died as a result of the virus.
Statistics 18 April 21: Total Tests in Last 24 Hours: 71,836 Positive Cases: 6,127 Positivity % : 8.52% Deaths : 149
According to the National Command and Operation Centre’s (NCOC) official statistics, 6,127 new positive cases have been identified in the last 24 hours after 71,836 tests were performed around the country.
Sindh had 272,197 cases, Punjab had 267,572, Khyber Pakhtunkhwa had 105,438, Islamabad had 69,556, Balochistan had 220,822, Azad Jammu and Kashmir had 15,524, and Gilgit Baltistan had 5,176.
Besides that, since the pandemic started, Punjab has had the largest number of new cases and deaths in a single day.
As a result of the worrying situation, the Punjab government has declared that it will raise the number of smart lockdowns across the province as cases of the novel coronavirus continue to rise.
In Pakistan, approximately 659483 people have recovered from coronavirus.
If you’re one of the millions of Muslims around the world fasting during Ramadan this month, you’re probably fasting from dawn to sunset every day.
Fasting is an integral feature of many religious rituals, and it is generally safe to do so. If you have certain health problems, such as pregnancy, diabetes, or any disease, it is better to meet with your faith leader and/or your doctor to decide if you do need to fast or whether you should fast without pain.
And, if you’re on any prescriptions, check with the doctor to see if you can safely postpone them or if they should be taken without food or fluids. If you get ill during fasting, relax, drink some juice, and see a doctor if your symptoms do not change.
Drink plenty of fluids
Try drinking fluids multiple times in the night because thirst is a warning that your body is ALREADY dehydrated. Caffeinated beverages will dehydrate you, so choose fluids that don’t have caffeine.
Breaking your fast with water at iftar is not only common, but it also means that you get the best supply of hydration into your body before being distracted by food.
However, avoid drinking too much at once and Drink TWO glasses of water at Sahri. Attempting to drink many gallons at once will dilute the body’s electrolytes, resulting in a possibly lethal disorder known as water intoxication.
Portion size
Have you ever used the words “serving size” and “portion size”? Are you perplexed by the two? Although the words serving and portion are often used interchangeably, they have distinct meanings.
Serving size
The USDA MyPlate is an excellent resource that tells you how many portions of each of the five food groups you can consume each day.
Here is also a hand guide.
It takes about 20 minutes for the body to recognize that it has had plenty to feed. As a result, don’t overeat during iftar. Eating mindfully and listening for when your appetite is met brings less strain on your body and has more nutrition than eating large quantities at once.
Avoid being sedentary
As a matter of fact, fasting can be physically exhausting but strive not to become totally sedentary. If you usually work out in the morning, see how your body reacts if you return to exercising in the evening after you’ve broken your fast.
Strenuous exercise is not recommended during the day because it will easily dehydrate you. However, you can think of small, short, or fast walks or a few stretches that will help you stay energized during the day.
Break the fast with dates
Dates help with hydration because they are a natural source of glucose, which boosts your cells to store fluid and fuel for energy. So Breaking the fast with dates is not the only practice because of Prophet Muhammad and how he broke his fast, but also a great tip to eat healthily.
Keep sipping water through the night
Assume you weigh 150 pounds and require 75 ounces of water a day, but you’ve only had four 8-ounce glasses of water (32 oz. total) so far. If you’re a goal-oriented guy, you could label water bottles with benchmarks to achieve during the night.
Avoid chugging four glasses of water in a row
If you drink a lot of water at once, chances are your body is going to waste it. Therefore it’s important you make sure that you are sipping on water during the night.
Eat foods with high water content
Cucumbers, peppers, onions, watermelon, strawberries, apples, and spinach provide a lot of water and therefore help you remain hydrated. Create a salad of onions, cucumbers, and peppers for iftar. Make suhoor smoothies with hydrating ingredients such as watermelon or strawberries.
Enjoy an apple at Sahri. This, rather than bread and cheese or fried meats, will help you get more fluids into your diet.
ISLAMABAD: Following the ban on the Tehreek-e-Taliban Pakistan (TLP), the government has begun the process of freezing the proscribed organization’s properties.
Previously, the Ministry of Interior released a notice saying the TLP “is engaged in the insurgency, has behaved in a manner prejudicial to the stability and stability of the region, and is complicit in causing anarchy in the world by threatening the people.”
According to sources, the TLP’s central leadership’s passports and bank accounts will be blocked, and such measures will be done in accordance with Anti-Terrorism Act 1997 law 11-E.
All weapons, according to reports, permit given to the organization’s leadership and employees will be revoked. The State Bank of Pakistan and regional revenue departments will play a role in freezing the organization’s funds.
The government has written to the relevant authority of all four provinces requesting that the party’s properties be frozen.
