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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.




Saturday, July 20, 2019

Fertilizer Industry Lends Support To Govt And Farmers

Fertilizer Industry Lends Support To Govt And Farmers

Fertilizer Industry Lends Support To Govt And Farmers


Islamabad: 19 July 2019 - The fertilizer industry has voluntarily held back the impact of recent gas price increase, in order to prevent  backlash of recent gas price hike from farmers. This was agreed on request of Advisor Industries, MrRazzaqDawood. The Advisor has assured the industry about settlement of GIDC effective 01 July to mitigate the loss to industry due to increased cost of production. 

The industry is optimistic regarding the GIDC settlement as agreed by MrAsadUmer in January this year to reduce the rates by 50% since inception and prospectively as well. The fertilizer industry has already paid Rs 127 Billion on account of GIDC upto 2015, unlike other sectors withholding the bulk of GIDC  payment. The industry expected settlement of outstanding Rs 20 Billion on account of subsidy as well as GST refund to the tune of 24 Billions in the process.  The industry expected redressal of cashflow challenge through GIDC settlement.

The fertilizer industry has shown its full confidence in the leadership of MrRazzaqDawood, who fully appreciated the contribution of industry to national economy and food security and expressed his appreciation for the gesture.

The industry has been making major contribution towards the national exchequer. Last year the fertilizer industry contributed in the economic growth of the country being one of the highest tax payer. It paid Rs. 45 billion in taxes which are virtually equal to the net profit the industry had earned. The industry has passed on Rs. 527 Billion benefit to the farmers in terms of lower prices against gas subsidy of Rs. 127 Billion during past 9 years. Furthermore, the industry has been offering its extensive support in uplifting the masses through different  CSR related projects.

Understanding the Government’s current  situation witnessing protests against economic measures that it can’t afford to open another front, the fertilizer industry has decided to give its maximum support to the government on the prevalent price issue. The rise in Feed Gas (62%) and in Fuel Gas (31%) prices which, as a result, impacted the cost of production by Rs. 210 per bag. However, the industry has decided to increase the price by only token of Rs 10 per bag, in anticipation of GIDC settlement. The industry expected the Government to help it by providing sustained supply of gas at affordable prices to enable it play a significant role in the development of the economy and national food security.



Friday, July 19, 2019

Six Rapid Bus Transit projects to build in Karachi: Syed Mumtaz Ali Shah

Six Rapid Bus Transit projects to build in Karachi: Syed Mumtaz Ali Shah

Six Rapid Bus Transit projects to build in Karachi: Syed Mumtaz Ali Shah


Karachi: Chief Secretary Sindh Syed Mumtaz Ali Shah has said that 6 projects of Rapid Bus Transit would be built in Karachi, along with KCR it would provide solution of transportation issues of the city. He was addressing a gathering held at Korangi Association of Trade & Industry (KATI) here on Thursday.

President KATI Danish Khan, Senior Vice President Faraz-ur-Rehman, Vice President Maheen Salman, Chairman & CEO KITE Zubair Chhaya, Head of KATI’s standing committee on public relations Ikram Rajput, Senator Abdul Haseeb Khan, Former Presidents Gulzar Firoz, Akbar Farooqui,  Farrukh Mazhar and others also expressed their views on the occasion.

CS Sindh Mr. Shah said that measures to provide ease of doing business have been taken on provincial and federal level, two committees under CM & CS Sindh had been formed for the purpose. He said that government of Sind was putting great efforts to attract international and local investments. He told that Sindh government has offered many facilities especially for Agri-based industries. He told that six projects of Rapid Buss Transit projects would complete in upcoming years in Karachi and work on Malir Expressway will be started soon. Mumtaz Ali Shah told that to improve water supply and sewerage in Karachi large scale reforms in Karachi Water & Sewerage will be introduced, “ you will have a an entirely changed and better water board in the city” he added. He further said there are strict directions for Deputy Commissioners to maintain cleanliness in their respective areas. On a call of attention by KATI’s office bearers CS Sind directed DCO Korangi and SWMB to relocate the GTS alongside EBM Causeway within 30 days.

In his welcoming address President of KATI Danish Khan applauded CM Sindh Murad Ali Shah for allocating funds for development in Korangi Industrial Area. He said that there is need to reform infrastructure of industrial areas for efficient and low cost industrial production. He urged that a high level meeting should be called to resolve issues pertaining to Combine Effluent Plant of Korangi. Danish Khan also briefed CS about economic potentials and importance of the area. He further said that measures to provide ease of doing business is one of the basic need to speed up industrialization.

Zubair Chhaya said that there was a Provincial Industrial Facilitation Board in past, it should be reinstated for speedy decision making on issues pertaining to industries. Senator Abdul Haseeb Khan said that Public-Private Partnership is the key to development, the government should promote this concept. Ikram Rajput said that industrial areas need more funds and attention for development.

The CS said Sindh is a model of Public-Private Partnership and we have the most projects were based on the concept.  Secretary Investment Sindh Ahsan Ali Mangi, DC Korangi Shaharyar Memon, SSP Korangi Syed Ali Raza, farhan-ur-Rehman, SM Yahya, Shaikh Fazle Jalil, senior members of KATI and local administration also attended the gathering.



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