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Showing posts with label News. Show all posts
Showing posts with label News. Show all posts

Monday, July 22, 2019

Chinese-funded water project to help ease water shortage in Quetta, Pakistan

Chinese-funded water project to help ease water shortage in Quetta, Pakistan

Chinese-funded water project to help ease water shortage in Quetta, Pakistan

QUETTA, Pakistan, July 22 (Xinhua) -- The Chinese Embassy in Pakistan has handed over a sustainable water project to Pakistan's southwest provincial capital Quetta as part of China's ongoing efforts to build more social development projects in the country.

Minister Counsellor of the Chinese Embassy Zhao Lijian on Sunday inaugurated the project of five ready-to-use solar-powered tube wells and gave it to Quetta's Water and Sanitation Authority (WASA), the sole water distributor in the provincial capital of the southwest Balochistan province.

Managing Director of WASA Mujeeb Ur Rehman Qambrani told Xinhua here that Quetta, with a population of 2.5 million people, is undergoing drinking water issues owing to rapid urbanization, increasing population growth and alarming underground water depletion.

During the handover ceremony, Zhao said the project is a gift from the Chinese Embassy for the people of Quetta, adding that several projects like the tube well program have already been started in different parts of Balochistan, especially in southwest Gwadar city.

Deputy Speaker of the National Assembly of Pakistan's Parliament Qasim Suri said that his hometown Quetta has been suffering from water shortage for the last several years. He appreciated China's quick response on the Pakistani side's request and established the tube wells.

A local businessman, Haji Jalil, told Xinhua that they had to spend a big portion of their incomes to buy water, but now he hoped that they would be able to save their money to spend on other needs.

State of Bank of Pakistan (SBP) allows banks to buy and sell foreign currencies in Pakistan

State of Bank of Pakistan (SBP) allows banks to buy and sell foreign currencies in Pakistan

State of Bank of Pakistan (SBP) allows banks to buy and sell foreign currencies in Pakistan

KARACHI: State of Bank of Pakistan on Saturday has authorized all banks in the country to buy and sell all foreign currencies with the public.

In the revised chapters of Foreign Exchange (FE) Manual, the SBP put an end to the business of exchange companies by handing over the foreign currency business to all banks and their branches across Pakistan.

“Such currencies or instruments may be freely purchased by the Authorised Dealers (banks) against payment in PKR. Authorized dealers may also purchase foreign currencies withdrawn by the account holders from their foreign currency accounts and from the walk-in-customers against payment in PKR subject to fulfillment of applicable AML/CFT regulations,” SBP had stated.

Earlier, the foreign currency exchange business was solely restricted to exchange companies with banks not getting permitted to buy or sell it with the public. WebDesk

Cricket: PCB looks to commercialize Bugti Stadium to boost regional cricket

Cricket: PCB looks to commercialize Bugti Stadium to boost regional cricket

Cricket: PCB looks to commercialize Bugti Stadium to boost regional cricket

Karachi (PPI): Pakistan Cricket Board (PCB) is looking to commercialize the area surrounding the Bugti Stadium in Quetta and vows to reinvest the revenues generated from commercialization into regional cricket.

A high-powered delegation of the Pakistan Cricket Board (PCB) will visit Bugti Stadium on July 26 to discuss and explore commercialization opportunities around the picturesque stadium.

The visit is scheduled as a follow-up to the Board of Governors meeting in which the PCB announced to take a proactive lead on creating avenues around the Bugti Stadium. This would generate employment and revenue opportunities, whilst serving as a venue for healthy activities for families and youngsters alike.

Revenue generated from the commercialization of the area surrounding the Bugti Stadium will be reinvested into regional cricket. This will aid in bolstering PCB’s strategic plan to enhance the capacity of all its affiliated units and the employment opportunities within the game itself.

The Bugti Stadium visit will be led by IPC Secretary, Akbar Durrani, and will include Shah Dost and other PCB officials. The BoG, at its previous meeting, had constituted a Working Group that also included PCB Managing Director, Wasim Khan, Chief Operating Officer, Subhan Ahmed, Chief Financial Officer, Badar Manzoor, and Director Infrastructure and Real Estate, Khayyam Qaiser.

During the inspection, the delegation will be given briefings and presentations by National Engineering Services Pakistan (NESPAK), who is PCB’s consultants.

Bugti Stadium, like the National Stadium in Karachi, Gaddafi Stadium in Lahore, and Multan Cricket Stadium, is the property of the PCB.

“It is the PCB’s commitment to the people of Balochistan that it will leave no stone unturned in playing its role to not only increase and improve cricket activities but to also provide employment, revenue and entertainment opportunities,” Subhan Ahmed said.

“Bugti Stadium underwent a facelift in the first phase. Now, in its second phase of renovation, it is being commercialized. This initiative is being taken to ensure Bugti Stadium becomes a resourceful complex, which along with staging regular cricket activities and events becomes a sustainable source for local employment and revenue generation.

“The PCB expects this new development will encourage the local families to visit the Bugti Stadium more regularly to spend quality time.”

In a related exercise, and as part of the PCB’s vision to enhance the infrastructure of all its stadia, a team of senior officials visited the Pindi Cricket Stadium on Thursday, July 18, to review existing facilities for the spectators, players and match officials, media right partners, media, and commercial partners.

This inspection shall pave the way for chalking out a plan within a set timeline for NESPAK to handover the venues in time for the 2019-2020 session matches.

The PCB events team will also visit Multan Cricket Stadium soon to inspect the existing facilities. The team will then submit its recommendations to NESPAK to commence the upgradation work – to be completed in time for high-profile matches – as per the PCB’s requirements.

The PCB is carrying-out a phase-wise upgradation work. It commenced with the renovation of the Lahore’s Gaddafi Stadium and will conclude with the refurbishment of the Multan Cricket Stadium.

Sunday, July 21, 2019

Only 300 companies paying 70-pc tax in Pakistan: PM Imran Khan

Only 300 companies paying 70-pc tax in Pakistan: PM Imran Khan

Only 300 companies paying 70-pc tax in Pakistan: PM Imran Khan

ISLAMABAD: Around 70 percent of Pakistan’s tax comes from 300 companies, says Prime Minister Imran Khan. He said FBR chief Shabbar Zaidi gave him this figure. The premier was speaking to members of the Gujranwala Chamber of Commerce an Industry in Islamabad on Wednesday.

He said the service sector accounts for over 20% of the economy, but only 1% pays tax. The agriculture sector makes a contribution of 20% to 25% to the GDP, but again, its tax contribution is a mere 1%, he said. The premier reiterated his arguments in favour of setting up a governance system using Madina as a model.

It had justice and mercy, he sad. The governance system took responsibility for all, including the poor, marginalised and elderly.

They didn’t have money, but there was justice and rule of law, PM Khan said, explaining how Madina’s model of governance was important and can be used by Pakistan. The country needs to move forward, he said, repeating his appeal to the public to come into the tax net.

Speaking about the treatment given to prisoners in Pakistan, PM Khan said those who have looted billions of rupees are provided ACs in jail while the poor man who has committed a small crime rots in a small cell.

He again spoke about taxing the rich and spending on the poor. The West refers to this technique as progressive taxation, the premier said.

“I don’t have any properties or bank balance outside of Pakistan. I live for Pakistan and this is where I will die so everything I do [for the country] is also or myself,” he said.

“He told the business community that he needed them to be on his team, which is why he was sharing Pakistan’s situation with them.

The tax we collected over one year last year, half of it went into paying off the interest on our loans, he said, emphasising that Pakistan can’t go on like this.

France provides €50.2m for rehabilitation of #Chitral, #Dargai hydro-power plants

France provides €50.2m for rehabilitation of #Chitral, #Dargai hydro-power plants

France provides €50.2m for rehabilitation of #Chitral, #Dargai hydro-power plants

ISLAMABAD: The government of France has provided a soft loan of €50 million (Rs9 billion) and a grant of €0.2 million (Rs36 million) for the rehabilitation of Chitral and Dargai hydropower plants.

Secretary of Economic Affairs Division (EAD) Noor Ahmed, French Ambassador Marc Baréty and Country Director of the French Agency for Development (AFD) Jacky Amprou signed the Credit Facility Agreement worth €50 million and the Grant Agreement worth €0.2 million.

A statement released by the French Embassy said that the funding will allow the modernisation of the two hydropower plants as well as the upgrading of their generation capacity from 20MW to 22MW for Dargai HPP and from 1MW to 5 MW for Chitral HPP.

The main objective of the project is to provide adequate facilities for the generation, transmission, and distribution of energy to meet current and future needs of Chitral and Malakand regions. It will also result in industrial, agricultural and economic development of the regions.

France, through the French Agency for Development, is providing technical and financial support in the energy and urban development sectors of Pakistan, where €610 million financial support has been committed since 2016.

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