Day: May 25, 2023

Pakistan’s cricket captain, Babar Azam, and wicketkeeper-batter, Mohammad Rizwan, were in attendance at a solemn ceremony held at the General Headquarters (GHQ) in Rawalpindi as the nation observed Youm-e-Takreem Shuhada-e-Pakistan (Martyrs Reverence Day).

This significant day serves as a heartfelt tribute to the brave martyrs who made the ultimate sacrifice while defending Pakistan and its people.

Pakistan’s cricket captain, Babar Azam, and wicketkeeper-batter, Mohammad Rizwan, were in attendance at a solemn ceremony held at the General Headquarters (GHQ) in Rawalpindi as the nation observed Youm-e-Takreem Shuhada-e-Pakistan (Martyrs Reverence Day).

This significant day serves as a heartfelt tribute to the brave martyrs who made the ultimate sacrifice while defending Pakistan and its people.

The ceremony at GHQ was graced by the presence of Chief of Army Staff General Asim Munir as the chief guest. Distinguished guests, including former army chief Gen (retd) Qamar Javed Bajwa, former chairman joint chiefs of staff committee Gen (retd) Nadeem Raza, Mufti Muneeb ur Rehman, law enforcement personnel, students, teachers, and members of society, were also in attendance.

As part of the commemoration, various events featuring Quran recitation and prayers will be organized across the country, serving as a spiritual remembrance of the martyrs’ sacrifices.

Furthermore, numerous ceremonies will be held at memorials dedicated to the martyrs, providing an opportunity for the nation to come together and honor their memory.

The presence of Pakistan’s cricket stars at the ceremony reflects the strong bond between the sports community and the nation’s heroes. It signifies the solidarity and gratitude of the cricketing fraternity towards those who have laid down their lives for the country.

The observance of Youm-e-Takreem Shuhada-e-Pakistan is a poignant reminder of the bravery and selflessness displayed by the martyrs. It serves as a collective tribute to their indomitable spirit and unwavering commitment to safeguarding the nation’s integrity.

Source: Pro Pakistani

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Source: Pro Pakistani

The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved a supplementary grant of Rs. 20 billion for parliamentarians for the Sustainable Development Goals Achievement Program (SAP).

Federal Minister for Finance and Revenue Ishaq Dar chaired the meeting of the ECC of the Cabinet, today.

Ministry of Industries and Production submitted a summary of Urea Fertilizer requirements for the year 2023 and briefed on the urea fertilizer situation in the country.

The ECC after detailed discussion allowed SNGPL-based fertilizer plants i-e Fatima Fertilizer (Sheikhupura) and Agritech to operate beyond May 31st, 2023 till August 31st, 2023 on indigenous gas with no subsidy requirement from the Federal Government.

Ministry of Climate Change and Environmental Coordination submitted a summary on the participation of Sindh’s Mangroves projects in voluntary Carbon Markets and presented that Sindh Forest Department is implementing two Indus Delta Mangrove projects viz Delta Blue Carbon-I(DBC-I) and Delta Blue Carbon-II (DBC-II) to generate Carbon Credits and trade with international entities on Voluntary Carbon Market(VCM).

The ECC after discussion approved the proposal of the Ministry that the DBC-I and DBC-II projects as these were initiated prior to the commitment made under NDCs in 2021. These projects are expected to generate about US$ 200 to 220 million by 2043 with additional benefits of creating green jobs.

The ECC considered a summary of the Ministry of Energy (Power Division) on payment mechanisms and agreements with M/s Uch Power (Pvt) Limited. After detailed discussion, the ECC approved the proposals of the Ministry for a Novation Agreement, Master Agreement, and PPA Amendment that would result in savings of Rs. 33 billion over a period of seven years.

The ECC considered and approved Rs. 2.5 million technical supplementary grant (TSG) in favour of the Ministry of Climate Change and Environment Coordination to meet its expenditures.

The apex committee okayed another TSG of Rs. 263.988 million in favour of the office of Controller General of Accounts (CGA) for the implementation of online billing solutions for Federal and Provincial Accountant Generals.

After discussions, it authorized a grant of Rs. 497.261 million in favour of the Ministry of Housing and Works for the execution of the development scheme titled “Construction of Railway underpass Gojra, district Toba Tek Singh”.

The ECC also considered and approved the following TSGs:

Rs. 420 million in favour of the Ministry of Information and Broadcasting to meet its budgetary shortfall for Information Services abroad.

Rs. 10,746.216 million in favour of the Federal Directorate of Immunization (FDI) to procure vaccines and syringes for uninterrupted supply to the provinces.

Rs. 20 billion in favour of the Cabinet Division for Sustainable Development Goals Achievement Program (SAP).

Rs. 25 million in favour of the President’s Secretariat for ERE expenditures.

Rs. 208 million in favour of the Intelligence Bureau to meet its Employee Related Expenses.

Rs. 4,000 million in favour of the Ministry of Defence to meet its expenditures. Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Khurram Dastgir Khan, Federal Minister for Industries and Production Syed Murtaza Mahmud, Federal Minister for Climate Change Senator Sherry Rehman, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Coordinator to the PM on Economy Bilal Azhar Kayani, Coordinator to PM on Commerce and Industry Rana Ihsan Afzal Federal Secretaries and other senior officers attended the meeting.

Source: Pro Pakistani

A total of 111 illegal housing societies were found in the federal capital, violating legal procedures and regulations, according to the National Assembly Standing Committee on Climate Change and Environmental Coordination.

The committee discussed various issues, including the impact of housing societies on the environment, sewage problems in Islamabad, and the case of Monal Restaurant’s environmental damage.

The absence of the Chairman of the Capital Development Authority (CDA) was criticized, and the committee requested their attendance at the next meeting.

The committee also expressed concern over the attack on the Director General of the Environmental Protection Agency (EPA) and called for appropriate action.

Members of the committee emphasized the need for coordination among relevant authorities and expressed frustration with the deteriorating state of the federal capital.

The committee urged the Ministry of Climate Change and Environmental Coordination to initiate a media campaign to enforce the ban on plastic bags.

The committee also discussed the issue of Monal Restaurant’s sewage affecting the Margalla Hills National Park.

Source: Pro Pakistani

Pakistan’s growth rate has fallen to 0.3 percent in the current fiscal year which saw various restrictions cripple industries, halt exports, puncture services, and depleting reserves to bring the country closer to default.

The 106 meeting of the National Accounts Committee (NAC) to review the final, revised, and provisional estimates of Gross Domestic Product (GDP) for the years 2020-21, 2021-22, and 2022-23 respectively was held on Wednesday. The Secretary, MO PDandSI chaired the meeting.

The final growth rate of GDP for the year 2021-22 has been estimated at 5.77 percent which was 5.74 percent in the revised estimates. The revised growth rate of GDP for the year 2021-22 is 6.10 percent which was provisionally estimated at 5.97 percent.

Agri, Industries Down

In the revised estimates, agriculture has slightly declined from 4.40 percent to 4.27 percent despite improvement in the crops sub-sector (from 6.58 percent to 8.19 percent) due to livestock (decreased from 3.26 percent to 2.25 percent) and forestry (from 6.13 percent to 4.07 percent).

The industrial sector has slightly declined from 7.19 percent to 6.83 percent in the revised estimates due to a decrease in electricity, gas, and water supply from 7.86 percent to 3.14 percent. However, growth in LSM improved from 10.48 percent to 11.90 percent.

The services sector has improved from 6.19 percent to 6.59 percent due to wholesale and retail trade (from 10.04 percent to 10.32 percent), information and communication (from 11.90 percent to 16.32 percent), finance and insurance (from 4.93 percent to 7.18 percent), public administration and social security (from-1.23 percent to 1.81 percent), and other private services (from 3.76 percent to 4.77 percent)

The provisional growth rate of GDP for the year 2022-23 is estimated at 0.29 percent. The growth of the agricultural, industrial, and services sectors has been estimated at 1.55 percent -2.94 percent, and 0.86 percent respectively.

In the agriculture sector, provisional growth in important crops is 3.20 percent due to a decrease in the production of cotton (41 percent from 8.33 to 4.91 million bales) and rice (21.5 percent from 9.32 to 7.32 million tons).

Wheat, Sugarcane Recover from Post-Flood Aftershocks

However, positive growth has been observed in wheat (5.4 percent from 26.208 to 27.634 million tons), sugarcane (2.8 percent from 88.65 to 91.11 million tons), and maize (6.9 percent from 9.52 to 10.183 million tons). Other crops posted modest growth of 0.23 percent due to a slight increase in the production of pulses, vegetables, fodder, oil seeds, and fruits. The provisional growth in livestock, forestry, and fishing is 3.78 percent, 3.93 percent, and 1.44 percent respectively.

The provisional growth in the industrial sector is -2.94 percent. The growth in mining and quarrying is -4.41 percent due to a decline in the production of natural gas, crude oil, and exploration cost.

Large Scale Manufacturing driven by QIM has posted a negative growth of 7.98 percent due to Food (-8.71 percent), Tobacco (-23.78 percent), Textile (-16.03 percent), Coke and Petroleum Products (-10.24 percent), Chemicals (-6.29 percent), Pharmaceuticals (-23.20 percent), Fertilizers (-9.54 percent), Non-metallic products which includes cement (-10.75 percent ), Iron and Steel Products (4.02 percent), Electrical equipment (-11.15 percent), Automobiles (-46.01 percent) and other transport equipment (38.91 percent).

The Electricity, Gas, and Water industry show a growth of 6.03 percent mainly due to higher output reported by the sources. The value added in the construction industry, mainly driven by construction-related expenditures by industries, has registered a negative growth of 5.53 percent mainly due to conservative reporting of construction-related expenditure by private as well as public sector enterprises and an unusual increase in relevant deflator of the WPI building material.

Services Improve Marginally But Trade Takes A Big Hit

The provisional growth in the services sector shows a slow growth of 0.86 percent but with mixed trends within the industries. The Wholesale and Retail Trade industry declined by -4.46 percent due to a decline in the output of crops (-4.57 percent), LSM (-8.11 percent), and imports (-12.68 percent).

The transportation and Storage industry has increased by 4.73 percent whereas accommodation and food services activities have grown by 4.11 percent.

Information and Communication increased by 6.93 percent due to an increase in telecommunication.

The Finance and Insurance industry shows an overall decrease of -3.82 percent mainly due to the high CPI-based deflator (26 percent). Meanwhile, Real Estate activities grew by 3.72 percent while public administration and social security (general government) activities posted a negative growth of 7.76 percent due to the high deflator.

Education witnessed a growth of 10.44 percent due to public sector expenditure. Human health and social work activities also increased by 8.49 percent due to the general government.

The provisional growth in other private services is 5.0 percent.

Source: Pro Pakistani