Month: July 2024

Minister of State for Finance Ali Pervaiz Malik says the government is swiftly taking measures to pass on the benefits of prudent economic policies to the public. Addressing media in Islamabad this afternoon, he mentioned various steps taken by the government for provision of relief to people in the Federal Budget. He said Prime Minister Shehbaz Sharif has taken special measures with regard to solar panels. He said the government has introduced contributory pension scheme for new inductions and the Armed Forces of Pakistan have also been asked to align themselves with newly introduced contributory pension scheme to reduce burden on national exchequer. The Minister of State said investors' trust is increasing while stock market has also witnessed historic boom. Ali Pervaiz Malik said with consultation of the World Bank, work on privatization of power distribution companies is also under process. He clarified that consumer protection would remain a core priority in whole exercise. The Minister said und er the austerity measures, the Prime Minister ordered to wind up Pakistan PWD and within next few weeks, the curtailment of various departments will be ensured that are not yielding market oriented results. Ali Pervaiz Malik also stressed the need to bring stability in macroeconomic fundamentals through coordination and consultations with provinces. Source: Radio Pakistan

The process for election of Chairmen of different Standing Committees of the National Assembly is underway. Chaudhry Mahmood Bashir Virk has been elected as Chairman of the National Assembly's Standing Committee on Law and Justice, Ms. Munaza Hassan as Chairperson for Climate Change and Environmental Coordination, Khawaja Sheraz Mahmood as Chairman of National Assembly's Standing Committee on Science and Technology, Muhammad Atif as Chairman Standing Committee on Economic Affairs Division, Muhammad Idrees as Chairman Standing Committee on Energy, Rai Hassan Nawaz Khan , Standing Committee on Railways, Syed Amin Ul Haq as Chairman Standing Committee on Information Technology, Farooq Sattar as Chairman Standing Committee on Privatization, Syed Hafeezuddin as Chairman Standing committee on Industries and Production, and Muhammad Jawed Hanif Khan has been elected as Chairman National Assembly's Standing Committee on Commerce. Source: Radio Pakistan

Prime Minister Muhammad Shehbaz Sharif has reached Dushanbe on a two-day official visit to Tajikistan. On his arrival at Dushanbe airport, he was welcomed by Tajik Prime Minister Kokhir Rasulzoda, Minister for Energy and Water Resources Daler Juma, Tajik Deputy Foreign Minister Farrukh Sharifzada, Dushanbe Mayor Jamshid Tabarzada and Tajik Ambassador to Pakistan Sharifzoda Yusuf and Pakistani Ambassador to Tajikistan Muhammad Saeed Sarwar and senior government and diplomatic officials. Later, the Prime Minister paid visit to memorial of Tajik national hero Ismail Samani. He laid a floral wreath at Samani's memorial. Later, on his arrival at Presidential palace, the Prime Minister was welcomed by President Emomali Rahmon. He was also presented guard of honour by a smartly turned out contingent of Tajik armed forces. Source: Radio Pakistan

Prime Minister Shehbaz Sharif today visited the Navruz Palace in Dashanbe. Upon his arrival, Tajik President Emomali Rahmon warmly welcomed the Prime Minister. The Prime Minister commended Tajik architecture and Navruz Palace. On this occasion, the Tajik President arranged dinner in the honor of Prime Minister Shehbaz Sharif and Pakistani delegation. Source: Radio Pakistan

Minister of State for IT and Telecommunication Shaza Fatima Khawaja has said Pakistan is actively supporting exports and investments in its IT industry. Addressing Global Digital Economy Conference in Beijing today, she said we offer one hundred percent equity ownership, one hundred percent repatriation of capital and dividends and income tax credits for IT exports to foreign investors. The Minister of State said Pakistani government is embarking upon the national digitization program. Highlighting the potential of Pakistan-China collaboration in the field of IT, she pointed out that the integration of digital technologies into CPEC's projects holds the promise of unlocking new avenues of economic growth, job creation and sustainable development. Source: Radio Pakistan

The crackdown against power theft launched by the government in collaboration with the concerned military institutions is effectively underway and yielding positive results. So far, over one hundred and one billion rupees have been recovered as a result of this crackdown while eighty one thousand electricity thieves have been arrested. The relevant governments departments are committed to continue the crackdown till complete elimination of power theft from the country. Source: Radio Pakistan

The initiatives taken by the government under the facilitation of Special Investment Facilitation Council (SIFC) in power sector during the past one year have resulted in a substantial improvement in this sector. Due to tireless efforts and hard work of the SIFC, work is in progress on privatization of DISCOs and renewable energy including wind and solar power. Incentives in the renewable energy sector have also paved the way for Foreign Direct Investment in this sector. Saudi Arabia has expressed its keen interest to invest in several solar projects of 600 megawatts each and work is in full swing to finalize government-to-government (G2G) agreement on this project. Similarly, work for privatization of DISCOs has also been initiated, under which five DISCOs will be privatized in two phases while three DISCOs will be given long-term concessions. As per the recommendations of the Apex Committee of the SIFC, the Power Division has been directed to resolve the pending financial matters with Karachi Electric. Instructions have been issued to Karachi Electric for the early completion of the competitive bidding for three hundred megawatt project in Wind Over Solar Energy projects. The Special Investment Facilitation Council is working hand in hand with the government's efforts to improve economy of Pakistan, and these efforts are yielding results. Source: Radio Pakistan

President Asif Ali Zardari has summoned the Senate session on Thursday at five in the evening. The session has been summoned under article 54(1) of Constitution of Pakistan. Source: Radio Pakistan