Day: November 23, 2021

The Ministry of Commerce, Pakistan in collaboration with the Trade Development Authority of Pakistan (TADP) is organizing the second three-day Pakistan-Africa Trade Development Conference (PATDC) in Lagos, Nigeria to further enhance trade relations with the 15-member group called the Economic Community of West Africa (ECOWAS).

The three day event is being held alongside a ‘single country exhibition’, Advisor to the Prime Minister on Commerce Abdul Razak Dawood led a 232-member business delegation comprising senior officials from the Ministry of Commerce, TDAP, Drug Regulatory Authority of Pakistan (DRAP), and State Bank of Pakistan (SBP).

During the event, various B2B [business t0 business], G2G [government to government], and B2G [business to government] meetings will take place on the sidelines of the conference & single country exhibition.

In his address on the occasion, Abdul Razak Dawood stressed that given the concrete opportunities that existed between the two sides, Pakistan-Africa trade could easily be increased manifold in the coming years. Despite challenges, he remarked, there would be steady and gradual but persistent growth in Pakistan-Africa trade with an enhanced level of engagement by both sides, public officials as well as the private sector.

It is to note that under ‘Look Africa Policy’, the Ministry has taken various initiatives to enhance trade relations with African states. ECOWAS is a 15-member regional group with a mandate of promoting economic integration, member countries constituting ECOWAS are Benin, Burkina Faso, Cape Verde, Cote d’Ivoire, The Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Sierra Leone, Senegal and Togo.

Nigeria, being the largest economy in the ECOWAS, is extremely important to enhance commercial and institutional linkages with ECOWAS member states, so it was selected for the second of a series of PATDC.

The conference launch was attended by prominent Pakistani businessmen representing various sectors including pharmaceuticals, surgical instruments, chemical, tractors/agriculture machinery, cosmetics, IT services, sports goods, food, electronics and engineering goods. Business and official delegates from the ECOWAS member states also attended the conference and the single country exhibition.

Representatives of Nigerian government including Governor Lagos State, Federal Minister for Industry, Trade & Investment Minister of Information and Culture Minister of Special Duties & Intergovernmental Affairs and senior officials from Standards Organization Nigeria, National Agency for Food & Drug Administration, Nigerian Investment Commission and other officials were also present, along with the President Nigerian Chambers of Commerce, Industry, Mines & Agriculture.

Source: Pro Pakistani

An emerging startup ‘Weatherwalay’ is working on a state-of-the-art weather forecasting system in Pakistan that aims to ensure 95 percent accurate forecasting.

Accurate weather forecasts, made through this system of weather data collection with the help of data points in terms of climatic zones in Pakistan, will help Pakistan deal with the effects of climate change, which causes annual losses of billions of rupees.

Weatherwalay has started deploying Automated Weather Stations (AWS) to obtain accurate weather data. The pilot project has been completed in Rawalpindi and Islamabad with 18 to 20 AWS.

The results of the pilot project of the system, based on the use of artificial intelligence and machine learning to analyze weather data, have been very encouraging.

The young entrepreneurs who introduced the startups say that this system will radically change the landscape of weather forecasting in Pakistan and the general public will also be able to participate in compiling accurate weather data.

In its next phase, after the twin cities, the Pothohar area has been selected where AWS will be installed in +45 climate zones.

This phase will be completed in three months. After the Pothohar region, the range of weather stations will be extended to the rest of Pakistan and about 420 AWS will be installed in a period of one and half years. Eventually, Weatherwalay aims to extend this number to approximately 1,000 AWS.

The startup will raise Rs. 500 million by round A funding after the completion of the first phase to scale up the weather data collection system countrywide.

They also added that besides the capital already raised, “we are in close collaborations with not-for-profit organizations and government departments that shall give us access to local, national, and international funds and grants. Additionally, national and international venture capitalists have also taken a keen interest in this initiative for Pakistan”.

Equipped with the capability to collect and analyze verifiable weather data, the system will create an ecosystem for understanding the weather and the environment in the country, including local weather monitoring representatives who will be monetized on a monthly basis.

In addition, the technical team is also looking into data being retrieved through moving devices such as digital devices installed in vehicles, smartphones, while a network of weather systems will be set up across the country.

Individual weather data providers will also be able to install weather systems and as a partner, in the ecosystem, they can get handsome monthly earning. These weather systems and digital data collection devices will collect real-time weather data from across the country which will be analyzed and forecast/nowcast will be provided to the subscribers through mobile applications or interfaces.

Accurate weather forecasts and information on a specific sector or area will be provided on a business-to-customer and business-to-business basis. The API will provide services to organizations and industries interested in exclusive analysis. The general public shall have free access to basic information.

Source: Pro Pakistani

Pakistan and China on Tuesday signed a memorandum of understanding (MoU) to facilitate the export of Pakistani onion to China. The MoU will ensure the safe entry of onions from Pakistan to China.

The signing ceremony of the Protocol for Inspection and Quarantine Requirements for export of onion from Pakistan to China between the General Administration of Customs China (GACC) of the People’s Republic of China and the Ministry of National Food Security and Research was signed by Federal Minister of National Food Security and Research Syed Fakhar Imam and China’s Ambassador to Pakistan Nong Rong at Ministry of National Food Security & Research (MNFSR), Islamabad.

Speaking on the occasion Imam highlighted that the agricultural sector is indispensable to the country’s economic growth, food security, employment generation and poverty alleviation, particularly for the rural population. He said that the present government under Prime Minister Imran Khan has been giving high priority to the growth of the agriculture sector on a sustainable basis and is implementing the most appropriate policies to achieve the desired outcomes.

The minister also highlighted that with 1.8 million tons of onion production Pakistan stands at ninth position with a share of 1.9% in global onion production.

Imam stated that Pakistan has been exporting rice, mango, and citrus to China after complying phytosanitary import requirements of China. The protocol would also create awareness about quarantine and phytosanitary compliance among Pakistan onion producers.

Speaking on the occasion the Chinese Ambassador anticipated that the protocol would open new ways for more Pakistani products to reach Chinese markets. He further said that China is already supporting Pakistan in foot and mouth disease control, chili, potato, beef, and mutton production. The envoy said that the China-Pakistan Economic Corridor (CPEC) would further enhance the trade ties.

The work on the development of quarantine and phytosanitary procedures for the export of Pakistani onions to China was initiated by the Department of Plant Protection (DPP), MNFSR in January 2019. The National Plant Protection Organizations of both the countries conducted Pest Risk Analysis (PRA) and the technical negotiations resulted in the form of protocol during April 2021.

Under this Protocol, the DPP would conduct pest survey, implement Integrated Pest Management (IPM) targeting quarantine pests of concern to China during the growing season of onion by adopting internationally recognized phytosanitary inspection methods and ensure pest-free export of onion to China. The processing companies intending to export onions from Pakistan to China will be registered and recommended by DPP after approval through an audit for further registration with GACC.

Imam also thanked the Chinese envoy for attending the ceremony and also thanked the GACC and the Chinese government for cooperation and facilitation of bilateral trade of agricultural goods between the two countries.

Source: Pro Pakistani

Prime Minister Imran Khan on Tuesday launched the Federal Board of Revenue’s (FBR) Track & Trace System for the sugar sector.

Speaking on the occasion, the Prime Minister called the rollout of the Track & Trace System (TTS) a watershed event in the development of Pakistan’s economy and hoped that it would lead to much-needed economic prosperity in times to come.

“It is an integrated, technology-based solution that shall ensure accurate reporting of production volumes through real time monitoring of manufacturing by the affixation of tax stamps, improve quality control and thus ensure increased revenue collection,” he said.

He said that one of the central tenets of the present government’s economic policy had been to bring about increased digitization and automation of the entire tax apparatus as a means to reduce opportunities for graft, coercion, and theft.

“Track and Trace System will serve as a central pillar of that economic policy and shall revolutionize tax collection across Pakistan,” he added.

The Prime Minister said that the previous governments had made half-hearted attempts to introduce the TTS but despite five attempts over a period of a decade, they were unable to implement the system.

“We too faced a monumental challenge in our attempt to bring about this paradigm shift and a barrage of lawsuits and threats. However, we persevered and were able to counter the legal challenges because of a robust policy and regulatory framework which provided the relevant guidelines for our decision making,” the Prime Minister remarked.

Prime Minister said that at the time of assuming office, the government had inherited a dismal economic situation, and was confronted with multiple challenges.

“Our revenue collection system was one of the weakest in the world, with a chronically low Tax-to-GDP ratio. We were unable to effectively mobilize our own resources for the well-being of the people,” he recalled.

He emphasized that the present government was committed to bringing about change, and putting Pakistan on the path of self-sufficiency and in this regard, the pivotal role of FBR could not be over-emphasized.

“One of our immediate priorities was to identify how to improve monitoring mechanism and increase revenue collection,” he added.

The Prime Minister said that the present government was the first one to break the nexus of tax evaders, vested interests, and mafias.

“We have not been afraid of taking difficult decisions nor shied away from plugging loopholes by enacting legislation that restricts corrupt practices and ensures transparency and fairness,” he added.

Adviser to the Prime Minister on Finance, Shaukat Tarin, while speaking on the occasion, thanked the Prime Minister for showing keen interest and participating in the inaugural ceremony. He also congratulated FBR on the launch of the project. He also thanked Sugar Mills Association for extending cooperation for making the innovative intervention possible.

“All 78 sugar mills have signed Tri-partite agreements amongst sugar mills, consortium (licensee), and FBR at Karachi, Lahore, and Islamabad,” he added.

He assured the Prime Minister that through the introduction of technology in the tax system, FBR will be able to broaden the tax base as efforts were already afoot to collaborate with National Database and Registration Authority (NADRA) and use artificial intelligence and mathematical modeling to ascertain the potential tax return filers.

Chairman FBR, Dr. Muhammad Ashfaq Ahmed, in his presentation explained the scope and significance of the high valued digital intervention. He also informed the audience that FBR intends to expand the scope of TTS to other key sectors which include beverages, petroleum, pharmaceuticals, and steel, and soon a proposal in this regard will be submitted to Prime Minister for his approval.

He reaffirmed his resolve to maximize efforts to expand digitization to all key sectors in order to ensure transparency, plug leakages, and thus maximize revenue potential.

The ceremony was also attended by cabinet members, parliamentarians, federal secretaries, office bearers of the Sugar Mills Association, and senior officers of FBR.

Source: Pro Pakistani