Day: March 22, 2024

Finance Minister Muhammad Aurangzeb has reiterated government’s commitment to implement prudent fiscal policies and structural reforms in various sectors including FBR, privatization, and private sector facilitation.

Talking to British High Commissioner to Pakistan Jane Marriott in Islamabad, he apprised the High Commissioner about the conclusion of the second IMF review under the Standby Arrangement.

Commending the Pakistan’s commitment to economic reforms, the British High Commissioner expressed the UK’s continued support for Pakistan’s development goals.

Jane Marriott emphasized the importance of further enhancing bilateral cooperation particularly in areas of mutual interest, and reiterated the UK’s commitment to strengthen the partnership between the two nations.

Source: Radio Pakistan

A delegation of Saudi Fund for Development called on Prime Minister Muhammad Shehbaz Sharif in Islamabad.

The delegation was led by SFD Chief Executive Officer Sultan Bin Abdul Rehman Al Marshad.

On this occasion, the Prime Minister appreciated the signing of financial agreements worth 107 million dollars for construction of hydropower stations in AJK, which would not only provide clean energy but would also help eradicate the menace of deforestation, besides providing job opportunities to the local population.

The Prime Minister highlighted the need to expedite the processing of the new projects in the field of green energy and infrastructure, which once implemented, would go a long way in the economic revival of the country, besides serving the needs of the local communities.

The CEO SFD shared updates with the Prime Minister about the ongoing projects including Mohmand Multi-purpose hydropower Project, Golan Gol hydropower Project, Malakand Regional Development Project, and other projects funded throu
gh Saudi grants.

Source: Radio Pakistan

Prime Minister Shehbaz Sharif has said Reko Diq project will prove to be a game changer for the development of Balochistan and the region.

Talking to a delegation of Barrick Gold-led by its Chief Executive Officer Mark Bristow in Islamabad today, he said the project will usher in a new era of development of the province and prosperity of the people.

The Prime Minister said plans will be chalked out regarding communication infrastructure, especially railway lines to take full advantage of the mineral potential of Balochistan.

He also encouraged the Barrick Gold to invest in other projects of minerals in Balochistan. He proposed a joint venture between the government and the Barrick Gold for the establishment of a Technical University in Chaghai.

Shehbaz Sharif said the government is taking all possible measures, including projects for a better roads and communication infrastructure, to facilitate investors.

Briefing the progress on Reko Diq project, the delegation informed the Prime Minister that its fea
sibility would be completed by the end of this year. It was told that local and Balochistan domicile holders are being given priority in jobs on Reko Diq project.

It was said that Barrick Gold, under the corporate social responsibility, has established three schools near the Reko Diq. So far, one hundred people, including women, have been imparted vocational and technical training by Barrick Gold.

Source: Radio Pakistan

Prime Minister Shehbaz Sharif has constituted various Cabinet Committees with an aim to revamp economy.

According to the cabinet division, the committees are on Energy, Chinese Investment Projects, and Economic Coordination Committee of the Cabinet, Privatization, on State-Owned Enterprises and on disposal of Legislative Cases.

Prime Minister Shehbaz Sharif will himself head these committees, while ministers for Economic Affairs, Finance, Petroleum, Planning, Development and Special Initiatives, and Power will be their members.

The committee on energy will ensure the smooth implementation of energy projects particularly falling under the umbrella of the China-Pakistan Economic Corridor and remove bottlenecks in the expeditious implementation of these projects.

Meanwhile, the committee on Chinese Investment projects will oversee the progress of investment projects executed by Chinese companies and to expeditiously resolve issues faced by the Chinese investors with different government entities.

The Econo
mic Coordination Committee of the Cabinet will review from time to time country’s import policy and its effect on production and Investment and determine the future pattern of growth of agriculture and industries.

The committee on Privatization is to review and monitor the progress of privatization.

The task of Cabinet Committee for Disposal of Legislative Cases is to examine whether a fresh legislation or amendments in the existing laws are in line with the Constitutional scheme, not in violation of any existing law, and falls within the mandate of Parliament.

Source: Radio Pakistan

Pakistan and China have decided to expedite the phase two of CPEC projects and establish a Working Group on five new Economic Corridors under this phase.

The understanding to this effect was reached during a meeting between Minister for Planning and Development Ahsan Iqbal and Chinese Ambassador to Pakistan Jiang Zaidong in Islamabad today.

The five new corridors include the Corridors of Job Creation, Innovation, Green Energy, and Inclusive Regional Development. The corridors align with the Planning Ministry’s 5Es framework which envisages E-Pakistan, Environment, Energy and Equity and Empowerment.

The synching of 5Es framework with the five new corridors will advance Pakistan’s prosperity in each sector as per the vision of Prime Minister Shehbaz Sharif.

The Planning Ministry and National Development and Reform Commission of China will prepare separate concept papers on the new economic corridors providing a clear roadmap for each sector.

Speaking on the occasion, the Planning Minister outlined a strat
egic approach to maximize the success of Special Economic Zones in Pakistan through partnerships between the Chinese and Pakistani SEZs.

He appreciated Chinese assistance to Pakistan in enhancing its exports.

The Minister assured the Ambassador that security is a prerequisite for development and Pakistan has made significant efforts to safeguard Chinese workers and will further implement top-level security measures in this regard.

The Chinese Ambassador appreciated Pakistan’s efforts to implement the CPEC.

He suggested that officers in charge of Special Economic Zones in Pakistan must visit Chinese industrial parks to learn from the efficiency measures practiced by Chinese authorities.

The discussions also focused on enhancing regional connectivity with emphasis on projects like Gwadar Port and M-8 Motorway to strengthen trade links.

Source: Radio Pakistan

Foreign Minister Ishaq Dar held separate meetings with the UK Minister of State for South Asia and Commonwealth Lord Tariq Ahmad, and with the Minister of State for Development, Andrew Mitchell in London today.

During the meetings, steps for further deepening of relations including leveraging the untapped potential of the British Pakistani diaspora to further expand trade and investment opportunities came under discussion.

In response to Foreign Minister Ishaq Dar’s call for early resumption of PIA flights to the UK, the UK side assured that it was working closely with Pakistan at the technical level to support resumption of flights at the earliest possible.

The Foreign Minister assured the UK side that all technical issues on Pakistan’s side would be resolved at the earliest, enabling PIA to resume flights to the UK.

UK Minister of State for South Asia and Commonwealth Lord Ahmad felicitated Foreign Minister Ishaq Dar on assuming the position of Foreign Minister, and expressed the desire to work closely
with the new government going forward.

Minister of State for South Asia Andrew Mitchell thanked the Foreign Minister for Pakistan’s continued support on resettlement of Afghan nationals.

Source: Radio Pakistan

Planning Minister Ahsan Iqbal visited National Disaster Management Authority in Islamabad today.

On this occasion, he commended authority’s proactive approach in the form of state-of-the art National Emergencies Operation Centre and data-driven insights for creating awareness through anticipatory actions.

He was briefed about the capabilities of National Emergency Operation Center to deal with hazards and vulnerabilities and disaster management outlook through predictive modeling.

Ahsan Iqbal was apprised about country’s proactive approach in implementing anticipatory actions for mitigating and managing future disasters through hi-tech early warning systems.

The Planning Minister was also briefed about launch of NDMA mobile app to provide early warning system of potential disasters.

Source: Radio Pakistan

President UN General Assembly Dennis Francis has applauded Pakistan’s role in global peace efforts.

He was addressing the Pakistan Day reception in New York hosted by the Permanent Mission of Pakistan to the United Nations.

Recognizing Pakistan’s commitment to multilateralism, the President UNGA acknowledged the sacrifices made by Pakistani peacekeepers in peacekeeping missions for promoting global peace and security.

The President of the UN General Assembly extended his warm greetings to Pakistan and said Pakistan’s National Day commemorates the adoption of the Lahore Resolution in 1940 and the adoption of the first Constitution of Pakistan in 1956.

He highlighted Pakistan’s journey towards independence and its diplomatic achievements citing Muhammad Zafarullah Khan’s presidency of the UN General Assembly and membership of the International Court of Justice.

He also praised Pakistan’s efforts in addressing global challenges, including its role in advocating against Islamophobia and its contributions to
climate action and environmental sustainability.

Referring to the recently adopted resolution on measures to combat Islamophobia, the President UNGA applauded Pakistan’s consistent work alongside the membership of the Organization of Islamic Cooperation (OIC) – to elevate the concern about Islamophobia.

Dennis Francis had words of special praise for Ambassador Munir Akram saying Pakistan’s ECOSOC presidency in 2021 under Munir Akram, successfully achieved a consensus on debt relief and restructuring larger concessional assistance.

The President of the UN General Assembly praised Pakistan’s resilience and extraordinary potential to deal with climate disasters and contribute to the goal of sustainability.

In his welcome address, Ambassador Munir Akram highlighted Pakistan’s unwavering commitment to multilateralism and the principles enshrined in the UN Charter.

He emphasized Pakistan’s active role as a Member State of the UN since 1947, supporting initiatives aimed at promoting international peace, securit
y, sustainable development and human rights.

Ambassador Akram announced Pakistan’s candidacy for a non-permanent seat on the UN Security Council for the term 2025-2026, and sought support from the international community. He expressed confidence in Pakistan’s ability to contribute meaningfully to the Council’s mandate for international peace and security.

The event was attended by the senior diplomats of the New York-based Permanent Missions, the UN staffers, members of academia, media, civil society organizations and the Pakistani diaspora.

Source: Radio Pakistan