Chinese President visit

Prime Minister Muhammad Nawaz Sharif hand shake with Chinese President.

Democracy WINS - Pakistan WINS!

Wall street Journal news about democratic Pakistan

PCEC map

This is the original and only map of PCEC.

Mass Transit Bus Projects

Rawalpindi Metro Project

PM meets King Salman

Pakitan stands beside Saudia for its soverignity

Reduction in fares of public transport

Toll free helpline for compaints

Parliament Gallery

Group Photo| Speaker NA Sardar Ayaz Sadiq with Dr. Cyrill Nunn, Ambassador of Germany and Members of Pakistan-Germany Parliamentary Friendship Group

News reel

Followers

Wednesday, March 26, 2014

Swat PTI general secy joins PML-N

 Swat PTI general secy joins PML-N


MINGORA: General secretary of Pakistan Tehreek-i-Insaf, Swat, Mohmmad Zeb Khan on Tuesday quit his party and joined PML-N along with other disgruntled workers. The move follows nomination of Dr Haider Ali Khan, said to be a newcomer in PTI, as a party candidate for by-election for PK-86, Swat-VII.
Mr Zeb announced joining of Pakistan Muslim League-Nawaz at a press conference held at the residence of party’s central senior vice-president Amir Muqam at Sangota, Swat.
Speaking on the occasion, Mr Zeb said that they worked for the PTI for 17 long years and that he was PTI candidate for PK-86 during May general elections.
He said that he had serious objection over the process adopted for joining of the party by Dr Haider, as he and other elected party office-bearers were not taken into confidence on that.
Mr Zeb said that if ignoring loyal party workers meant ‘a change’ for PTI then such a change was not acceptable to him. He alleged that there was no justice in PTI, which was claiming to provide justice to people.
Addressing the press conference, Mr Muqam said that PTI had not only disappointed the people of Khyber Pakhtunkhwa, but its performance also upset the party workers. He said that PTI had claimed to bring change in 90 days, but it could not take any step according to its manifesto even after one year of its rule.
Criticising the provincial government, he said that last year people of Swat had suffered because of dengue due failure of the government to take timely steps for its prevention.
 

Tuesday, March 25, 2014

India ‘hesitant’ to resolve Kashmir issue: Nawaz

 India ‘hesitant’ to resolve Kashmir issue: Nawaz

*PM says New Delhi not ready for mediation by a third force * US needs to play role in normalising ties between two countries * Direct talks with TTP in N Waziristan today

THE HAGUE: Prime Minister Nawaz Sharif on Monday said that issues between India and Pakistan should be resolved and asked the US to play its role in normalising ties between the two countries.
Talking to media after his meeting with US Secretary of State John Kerry, the prime minister said that India was hesitating to resolve the Kashmir issue bilaterally. He said if India was not willing to include third force in resolving the Kashmir issue then the US would have to play its role in bringing the situation to normal in the region. The prime minister, who is in The Hague to participate in the Nuclear Summit, said that peace in Afghanistan was in the interest of Pakistan and the region.
He said Pakistan wanted to talk to Afghan Peace Council to maintain peace in the region, adding that the improved relations between Pakistan and Afghanistan should not be derailed. The prime minister termed the US policy of discontinuation of drone strikes in Pakistan appreciable and said it must be continued. Both the sides reaffirmed their desire to continue the strategic dialogue, covering a wide range of areas. The meeting was held on the sidelines of the two-day Nuclear Summit. 
Talking about the mediation with the Taliban Nawaz said the government was holding talks with sincerity and the committee to hold talks on behalf of the government would visit North Waziristan tomorrow (Tuesday) where direct talks would take place with the Taliban leadership. Meanwhile, US Secretary of State Kerry said his country has great confidence in Pakistan’s nuclear security and will continue to work with Pakistan in fighting terrorism. In brief remarks to the press he also assured cooperation to Pakistan to help meet its energy needs. John Kerry said the two countries were “deeply engaged” and said the two sides will focus on the issue of terrorism, counter-terrorism, global energy besides Afghanistan and the bilateral Pakistan-United States relations.
Prime Minister Nawaz Sharif said there were a lot of challenges for his government that came into power nine months back, however measures were afoot to address these. He also mentioned his meeting with US President Barack Obama a few months ago in Washington DC and said the dialogue with the US will continue. John Kerry mentioned his meeting in Washington with Adviser to Prime Minister Sartaj Aziz recently and said he was looking forward to his meeting with Finance Minister Ishaq Dar soon. Prime Minister Nawaz is accompanied by Special Assistant Syed Tariq Fatemi and Foreign Secretary Aizaz Ahmad Chaudhry.
Both the leaders discussed bilateral relations and the scheduled withdrawal of ISAF forces from Afghanistan by the end of this year. Kerry told Prime Minister Nawaz that the United States will continue to work with Pakistan for the elimination of terrorism. He said the two countries were “deeply engaged”. “We have great confidence in Pakistan’s nuclear security,” Kerry told reporters. The secretary said the United States and Pakistan are working together to root out terrorism from the region. 
He said US is also cooperating with Pakistan to curb to overcome its energy crisis as it wants a viable and prosperous Pakistani nation. Kerry said Pakistan-US working group on nuclear proliferation is working and strategic dialogue between the two countries are continuing. Nawaz Sharif termed the meeting positive and constructive. He said the government is trying to resolve all issues being faced by the country. He said both the countries have been reviewing the decisions taken in the meeting between him and President Obama. “There are a lot of challenges and we are meeting these challenges in Pakistan,” Nawaz said. 
Prime Minister Nawaz met President Barrack Obama, Chinese President XI Jinping and Turkish President Abdullah Gul at the summit and discussed with them matters of bilateral relations and mutual interests. In his meeting with French President Francois Hollande, the prime minister said that friends of Pakistan must acknowledge its sacrifices in the “war on terror” in a solid manner. He said that Pakistan’s economy had suffered heavily and now it is the world that has to pay back in terms of enhanced cooperation in trade and economy. He said that Pakistan attaches special importance to its relations with France and hopes that these relations will continue to improve in all fields of cooperation in the future.
 

Remarks With Pakistan Prime Minister Nawaz Sharif After Their Meeting

Remarks With Pakistan Prime Minister Nawaz Sharif After Their Meeting


Remarks
John Kerry
Secretary of State
The Hague, Netherlands
March 24, 2014
http://bcove.me/t6t0vb2t

SECRETARY KERRY: (In progress) – it is to meet with Prime Minister Sharif of Pakistan. We – Pakistan and the United States – have enormous mutual interests. We are both striving to combat extremism, terrorism, deal with the challenge of global energy, as well as to provide for the prosperity of our people and deal with nuclear security. And it’s nuclear security that particularly brings us here to The Hague.
But we are working very, very closely together. I visited with the prime minister in August of last year. We began a strategic dialogue again. We have worked together with our Security, Strategic Stability, and Nonproliferation Working Group. That group is engaged in dealing with issues of nuclear security as well as other challenges. And in addition, we met recently in Washington. Dr. Aziz and I engaged in our strategic dialogue. And we look forward to welcoming Finance Minister Dar, who will be coming to Washington for our finance component of that discussion.
So we are deeply engaged, and I might add that we affirmed recently and we reaffirm that we have great confidence in Pakistan’s nuclear security. They’ve really done an enormous amount of work. I know the prime minister will probably talk about that here at the summit. But we do have important issues of cooperation with respect to the extremism, terror, counterterrorism, and Afghanistan. And we look forward to discussing those issues this morning.
PRIME MINISTER SHARIF: Thank you, John. Thank you very much.
SECRETARY KERRY: Thank you, sir.
PRIME MINISTER SHARIF: It’s always a pleasure to welcome you, and you’ve been a great friend of Pakistan. Of course, we are very happy to have met here also. And as John has been saying, that there are a lot of challenges – we are meeting these challenges in Pakistan. We have been in office for almost about nine months and we’ve had very constructive discussions with our American friends. I had a very good meeting with President Obama a few months ago in Washington, and we are now following up all that we have discussed and agreed.
SECRETARY KERRY: Good.
PRIME MINISTER SHARIF: Thank you.
SECRETARY KERRY: Thank you, Nawaz. Thank you.
# # #


 

Hague summit: Nawaz makes case for civil nuclear energy

 Hague summit: Nawaz makes case for civil nuclear energy

THE HAGUE: 
Prime Minister Nawaz Sharif appealed on Monday for international cooperation and assistance that will give his country access to nuclear technology for a civilian energy programme — the lynchpin of its strategy to overcome chronic energy shortages.
“Energy deficit is one of the most serious crises facing Pakistan,” PM Nawaz told delegates at the third Nuclear Security Summit in The Hague. “As we revive our economy, we look forward to international cooperation and assistance for nuclear energy under IAEA safeguards,” he said.
Leaders from 53 countries, US, EU, International Atomic Energy Agency and Interpol are attending the nuclear summit.
The prime minister also called for Pakistan’s inclusion in all international export control regimes, especially the Nuclear Suppliers Group. International treaties and forums, according to him, should supplement national actions to fortify nuclear security.
At the same time he reiterated “the highest importance” that his country attached to nuclear security. because it was directly linked to the country’s national security.
“Pakistan is a responsible nuclear weapons state and pursues a policy of nuclear restraint, as well as credible minimum deterrence,” he said.
“Our region needs peace and stability for economic development that benefits its people. That is why, I strongly advocate nuclear restraint, balance in conventional forces and ways to resolve conflicts,” the prime minister said.
The prime minister paid tribute to US President Barack Obama for launching the nuclear security summit process four years ago. Pakistan has been running a safe, secure and safeguarded civil nuclear programme for more than 40 years and the country has the expertise, manpower and infrastructure to produce civil nuclear energy.
Eminently qualified
Pakistan’s nuclear security is supported by five pillars – a strong command and control system led by the National Command Authority; an integrated intelligence system; a rigorous regulatory regime; a comprehensive export control regime; and active international cooperation. Pakistan’s security regime covers physical protection, material control and accounting, border controls and radiological emergencies.
Pakistan is a party to the Convention on the Physical Protection of Nuclear Material and worked closely with the IAEA to deal with safety and security of radioactive sources and illicit trafficking of nuclear materials.
The prime minister said Pakistan regularly submitted reports to the UN Security Council 1540 Committee on the measures the country has taken to exercise control over transfer of sensitive materials and technologies.
“Looking back, we can say with confidence that our decisions and commitments have spurred national action, promoted international cooperation and fostered nuclear security culture,” the prime minister said, adding that Pakistan has constructively contributed to this process.
He said Pakistan’s nuclear materials, facilities and assets were safe and secure and the country’s nuclear security regime was anchored in the principle of multi-layered defence for the entire spectrum – insider, outsider or cyber threat.
Islamabad has established a centre of excellence that conducts intense specialised courses in nuclear security, physical protection and personnel reliability, he said, adding that Pakistan was ready to share its best practices and training facilities with other interested states in the region and beyond.
Dealing with radiological threats
He said his country had also deployed radiation detection mechanisms at several exit and entry points to prevent illicit trafficking of radioactive and nuclear materials.
Similarly, he said, all countries should continue to take measures to secure their nuclear facilities and materials and prevent any perceived nuclear terrorist threat. “We all need radioactive sources for hospitals, industry and research; but should be vigilant about radiological threats,” he added.
Published in The Express Tribune, March 25th, 2014.

 

Monday, March 24, 2014

PML-N vows to materialise dream of Hazara province

Sticking to their guns


HARIPUR:  Though the resolution for a separate Hazara province has divided opinion across the region, people from Hazara division have welcomed the step as a positive one.
Speaking to The Express Tribune on Sunday, former MNA Gohar Ayub Khan lauded the move and assured the Pakistan Muslim League-Nawaz (PML-N) to which he belongs will get the resolution approved from the Senate and Lower House.
To a question, he said the way the resolution was adopted did fulfill the requirements for the creation of a new province. He, however, claimed had Chief Minister (CM) Pervez Khattak voted in favour of it, it would have strengthened the case.
Gohar maintained those calling for the demand of Hazara province on linguistic grounds were actually throwing a spanner in the works as Tahirkhelis, Mashwanis, Jadoons, Tareens, Swati Khankhels and Dilazaks were all Pukthuns who had been living in Hazara for centuries. “Even if they have forgotten their mother tongue, their ethnicity as Pukhtuns remains unchanged,” he said.
He added the province was an administrative requirement and was a province till March 12, 1848 when Sikh Governor Sardar Chitar Singh surrendered before the British forces. He said during the era of Ahmed Shah Abdali, Hazara was called as Chach Hazara and then later named Hazara.
Gohar said after the Partition, India had nine provinces, while till last month it had 28. Now, he added, India added yet another province, with the smallest province having a population of 600,000. “The concept of small is beautiful is well accepted worldwide, so the creation of small administrative units is the need of the hour.”
Former CM and Provincial President of PML-N Pir Sabir Shah said his party had a clear stance on Hazara and would honour its promise. He said the province was the right of the people which was why they had incorporated the demand in their manifesto.
Replying to a query, he said the appointment of PML-N senior leader Mehtab Abbasi as the K-P governor has nothing to do with Hazara as a province, but he was bound to follow the party lines.
Celebrations abound
Workers of Pakistan Tehreek-e-Insaf (PTI), PML-N, Hazara Qaumi Mahaz, Tehrik Suba Hazara and its splinter group Suba Hazara came out on the streets and danced in jubilation. They congratulated each other and also distributed sweets.
“I do not foresee any hiccups in the way of the province’s creation as PML-N enjoys majority in the National Assembly,” claimed Liaqat Khan, a political analyst commenting on the situation. He lauded the role of PTI MPAs from Hazara but criticised the CM for his absence in the assembly session.
Published in The Express Tribune, March 24th, 2014.

 

PML-N government fulfils longstanding demand of residents

PML-N government fulfills longstanding demand of residents

 

Prime Minister Nawaz Sharif and Punjab Chief Minister Shahbaz Sharif, with the laying of foundation-stone of the Rawalpindi-Islamabad Metro Bus Service Project on Sunday, have fulfilled a longstanding demand of the residents of the twin cities with regard to provision of a modern transport system to them.


After the closure of Varan Tours Bus Service in the PML-Q government, the residents of Rawalpindi, facing problems, had been demanding a modern transport service. In the previous governments, high officials and concerned transport authorities had been making promises to the people in this regard, however, they failed to materialise them.

However, Prime Minister Nawaz Sharif and Punjab Chief Minister Shahbaz Sharif, who promised the residents a mass transit project for their twin cities during the PML-N election campaign last year, soon after coming into power, directed the concerned officials to prepare a plan for the Metro Bus Service Project.

In January 2014, Prime Minister Nawaz Sharif gave approval to the Metro Bus Project and directed the concerned authorities to 0initiate work on the scheme. Punjab Chief Minister Shahbaz Sharif, on February 1, 2014 in the light of the directions of the prime minister, gave approval to this project in a meeting of the Punjab Cabinet and work was immediately started for fulfilling the requirements and tender process for the project.

The Rawalpindi-Islamabad Metro Bus Project is being implemented as per vision of Prime Minister Nawaz Sharif and Chief Minister Shahbaz Sharif with the objective of providing an international standard mass transit system to the residents of the twin cities. The total cost of the Metro Bus Project is about Rs44.21 billion.

Federal and provincial governments would contribute 50% each of the total cost. The route of the Metro Bus Service would start from Flashman’s Hotel Chowk, Rawalpindi, and end at Pakistan Secretariat, Islamabad, after covering a distance of 23.2 kilometres.

Similarly, the portion of Metro Bus Service in Rawalpindi from Flashman’s Hotel to Faizabad, having a distance of 8.6 kilometres, would be on elevated track, while from Faizabad to Pakistan Secretariat via IJP Road and 9th Avenue up to the destination having a distance of 14.6 kilometres, will be ground road.

A total of 24 modern stations for passengers would be built on route out of which 10 will be on Benazir Road and the remaining 14 will be in Islamabad. Initially, 60 buses would be plied on the route and more than 150,000 passengers would benefit from the project.

About 29 kanals of land would be acquired for the project out of which about 20 kanals would be acquired on Benazir Bhutto Road, Rawalpindi. According to high-ups in the city district government, including the Rawalpindi commissioner, there would be no environmental effects of the project as no greenbelt would be affected during the construction of the project and this project would also have no effect on the overall master plan of the capital.

The Rawalpindi-Islamabad Metro Bus Service Project is being undertaken keeping in view the long-run mass transit requirements of the twin cities and if in future the load of passengers is increased, the Metro Train, after laying its track, might also be run on this track.

According to higher authorities in the city district government, the PEPRA and other related laws have been strictly followed to ensure transparency in the project and there would be no compromise on construction standards of the project. Keeping in view the experiences of Lahore Metro Bus Service Project, the prime minister and the chief minister have directed the concerned authorities to ensure completion of the project on better level and standards so it may cater to the long-term requirements of mass transit system.

PML-N to revive ideology of Pakistan

 PMLN to revive ideology of Pakistan


Monday, March 24, 2014 - Attock—State Minister for parliamentary Affairs Sheikh Aftab Ahmad has said that Lahore resolution passed on 23rd March 1940 the most important event of Pakistan Moment and the propose of it celebration s to keep the young lot aware of its importance, he said this while talking to this correspondent here at his residence.

He said that the govt of PML (N) is committed to revive the ideology of Pakistan and its ample proof is that after years break this day is being celebrated with great zeal and zest at govt level.

He said, two-nation theory highlighted that Muslims and Hindus were two separate nations. He said that the importance of this resolution was not less than the declaration of independence.

The purpose of 23rd March resolution was the establishment of modern Islamic and democratic state he said. The minister said, Pakistan ideology meant to create a modern state where Islamic principles were implemented. He said that resolution for establishment of a separate homeland for the Muslims of British India passed in the annual session of All India Muslim League held in Lahore.

He said, this resolution was passed unanimously and is a landmark document of the history of Pakistan.

He said the passing of this resolution marked the transformation of Muslim minority in British India into a nation with its distinguishing socio-cultural and political features. 

 

Thursday, March 20, 2014

#RoshanPakistan | Dasu Dam construction to be started this year

 Work on $4.2bn Dasu power project to begin this year

ISLAMABAD: An amount of $4.2 billion required for the 4,230MW Dasu Hydropower Project has been arranged and the construction work will begin this year, according to chief of the Water and Power Development Authority (Wapda).
Wapda Chairman Raghib Abbas Shah told the Senate Standing Committee on Water and Power on Wednesday that board of governors of the World Bank was expected to approve the project at its meeting next month.
He said that after completion of its first phase, which involves construction of two tunnels, the project would begin producing 2,160MW of electricity.
Upon completion of the second phase by 2019, the project’s capacity would go up to 4,230MW.
Mr Shah said the project was the first one for which the World Bank had agreed to finance even land acquisition, thus facilitating its launch this year.
He said the German government would provide $1bn for the project, the Industrial and Commercial Bank of China $2bn, the World Bank $500 million and the remaining $700m would be arranged by the government and Wapda.
Answering a question, the Wapda chief told the committee that order for the project was expected to be issued next month after vetting of contractors by the Pakistan Engineering Council.
He said that 70 per cent of the work would be awarded to international contractors and the remaining 30 per cent to local companies.
Mr Shah said that after completion the Dasu project would generate 12bn units of electricity every year.
Initially, he said, the World Bank offered to support the construction of only two tunnels but on the government’s request later agreed to help build all the four tunnels of the project.
He said the government was in contact with the World Bank to allay the latter’s concerns over the Diamer-Bhasha dam project which could be built in six years at an estimated cost of $12bn.
Minister of State for Water and Power Abid Sher Ali assured the Senators that he would provide to them the lists of boards of directors of all electricity distribution companies, except K-Electric, within a week.
 http://www.dawn.com/news/1094250/work-on-42bn-dasu-power-project-to-begin-this-year


Monday, March 17, 2014

Column

Commission for Women | Muhammad Anwar Grewal
Published in daily Waqt dated February 15, 2014

Pakistan to Auction Next-Generation Cellphone Licenses


Government Hoping to Raise $1.6 Billion

  March 14, 2014

KARACHI, Pakistan—Pakistan said it would auction next-generation cellphone licenses on April 23, in a move that the government hopes will raise at least $1.6 billion and create new jobs.
Pakistan is the only major country in the region that still doesn't offer 3G services, surpassed even by war-torn Afghanistan. It will sell both the 3G and the more advanced 4G LTE spectrum, government officials said.
The auction is part of a series of measures that the government of Prime Minister Nawaz Sharif is adopting to spur the country's stagnant economy and attract investment.
"We expect to receive bids for up to five licenses for 3G and 4G LTE bandwidths. Gauging from the interest so far we hope that the revenues will be more than estimated," said Syed Ismail Shah, chairman of the Pakistan Telecommunication Authority.
The country's Finance Minister Ishaq Dar approved the auction at a meeting in Islamabad on Thursday.
A government-commissioned study by Plum Consulting forecast that the 3G spectrum auction could raise Pakistan's gross domestic product by $8 billion and indirectly create up to 900,000 new jobs.
The government said that bids for 3G license will start at $295 million, and for 4G LTE licenses at $210 million. Mr. Dar said in a recent Wall Street Journal interview he is hoping the process would rake in as much as $2 billion.
Currently, Pakistan has five telecom operators. At least four of them are expected to participate in the bidding process.
"The entire process was carried out in a very clear, transparent and professional way and we are satisfied with it," said Omar Manzoor, spokesman for Mobilink, Pakistan's largest cellular operator.
In addition to existing operators, a Turkish and a Middle Eastern operator expressed interest, Mr. Shah said.
Officials and telecom operators said that 3G services could come online within a few weeks of the auction.
"There is a consensus now among all the stakeholders that the auction should proceed quickly," said Mohammad Tahir Saeed, an analyst at Topline Securities, a Pakistani brokerage firm. "Apart from the telecom industry, it is the services sector that stands to benefit the most once the 3G network starts operating."
Pakistan has about 132 million cellphone users, but only 15 million of them use the slow mobile Internet currently available in the country.
Write to Syed Shoaib Hasan at Shoaib.Hasan@wsj.com


 

Sunday, March 16, 2014

Investment in stock markets corssed 65 trillion

Daily express news report dated March 16, 2014

http://express.com.pk/images/NP_LHE/20140316/Sub_Images/1102126107-2.gif

Saturday, March 15, 2014

Ishaq Dar a performer, not used to making hollow promises

ISLAMABAD: Finance minister Senator Ishaq Dar has amazed a vast majority of disbelievers, who took his public pledge to bring the roaring greenback (dollar) to below Rs100 as an empty slogan of the government to create feel-good sentiments.

A thorough professional like Dar hardly knows political antics and gimmickry. Since joining politics, he has not been known for making shallow political promises to attract attention and garner political support. He is always focused on the specialized job he is assigned. He takes it as a challenge. He did the same when he previously served as commerce minister and finance minister during earlier Nawaz Sharif government. It was because of Dar’s suave nature, competence and dedication that Asif Ali Zardari had preferred him as the finance minister of his government when the Pakistan Muslim League-Nawaz (PML-N) had joined hands with the Pakistan Peoples Party for a while in 2008. He did not serve for too long as the alliance fell apart due to political compulsions. Dar is one of less than half a dozen federal ministers, who are the real assets of Nawaz Sharif’s team. They are working overtime to make a difference in the portfolios they have been allotted. The prime minister is happy with this lot and is displeased with others, who are taking their assignments lightly. Dar’s test would be to stabilise the exchange rate. In December last, he declared to reduce the greenback to less than Rs100. He then asked those who have amassed dollars to cash them hurriedly otherwise they would suffer huge losses. Such investors who did not heed his advice are now at a loss. Sheikh Rashid stood out among the leading disbelievers and had announced that he would resign his National Assembly seat if the finance minister fulfilled his promise of bringing dollar to Rs98. The good news is that the greenback touched this figure on Wednesday with its constant depreciation. However, as this was about to happen, Sheikh Rashid made it known that he would not quit and instead alluded to a conspiracy theory in the appreciation of the rupee. He hasn’t elaborated the plot, but asked the government during a TV interview to explain how it got $1.5 billion. “It should tell how rupee rose and dollar slid otherwise I will spill the beans,” he threatened. But Dar did not want Sheikh Rashid to go home and said in a TV interview that he was thankful to those who threw the challenge to him that kept him on his toes to meet his commitment. Sheikh Rashid is the lone warrior, who is not willing to accept the magic done by the finance minister. Many others compliment the achievement.The Pakistan Economy Watch (PEW) said on Wednesday that dollar’s continued retreat would help stabilise economy, tame inflation and restore investors’ confidence. “The rising rupee will further push the US dollar down to set new records but stabilising the exchange rate which has remained volatile since long will be a test for the economic managers,” PEW president Dr. Murtaza Mughal said. He believed that fulfillment of the commitment by the finance minister will bring down prices of imported commodities and will have a positive impact on every person in Pakistan. He attributed the strength of rupee to excess supply of dollar, ban on gold import since January, encouraging International Monetary Fund (IMF) reports, Chinese decision to invest billions in Pakistan, award of GSP plus, expected sale of next generation telecom licences, positive interference by State Bank of Pakistan and 11% hike in remittances. Mughal said that exports have not increased to the satisfactory level which was must to maintain the trend. Terming the dramatic fall of dollar and its reducing demand a good omen for the economy, he said that dollar should remain under pressure despite hue and cry by exporters. The government should keep a hawk’s eye on speculators, currency dealers and on some banks who have been playing havoc with the economy for personal gains, and must encourage the deprecation of dollar below Rs98 in the national interest. A report said that Pakistan is expected to receive some $1.1 billion through auctions of 3G and 4G telecom licences, about $1 billion and $500 million from the World Bank and the Asian Development Bank and $550 million from the IMF along with $500 million raised through the issuance of Eurobonds. 

http://www.thenews.com.pk/Todays-News-2-238153-Ishaq-Dar-a-performer,-not-used-to-making-hollow-promises

 

Last 8 months | Direct foreign invesment boosted by 18 %



Published in Daily Express dated March 15, 2014

http://express.com.pk/images/NP_LHE/20140315/Sub_Images/1102124987-2.gif

Thursday, March 13, 2014

Political cartoon

March 13, 2014

LCCI welcomes the strengthening of PKR


http://www.dailywaqt.com/03-13-2014/images/02_02.gif

DAR urges the public to cash USD



http://www.dailywaqt.com/03-13-2014/images/55.gif

Wednesday, March 12, 2014

Prime Minister visit to THAR


 
Daily Waqt dated March 11, 2014

Sunday, March 9, 2014

Is the economy turning around?

Column by Dr. Farrukh Saleem 

Is the economy turning around? The good news is that the economy is growing at its fastest pace since 2008. The bad news is that inflation remains a potent threat. Is the economy turning around? Well, there are economic indicators that turn around before the economy as a whole turns around. These indicators have a certain degree of predictability value and are thus known as leading economic indicators.

Is the economy turning around? Has the private sector started borrowing? To be certain, the economy will only turn around if and when the private sector becomes confident. When the private sector becomes confident it starts borrowing and when it starts borrowing it starts investing and once it invests the economy turns around.

In July 2013, within a month of the new government taking over, the Overseas Investors Chamber of Commerce and Industry (OICCI) reported that “there is remarkable buoyancy in business circles coinciding with the change of government…. Business sentiments have gone up dramatically from minus 34 percent to positive 2 percent.” Lo and behold, in the first six months of 2013-14 credit to the private sector has gone up from Rs53 billion last year to Rs231 billion – an increase of 4.35 times.

Is the economy turning around? Are investors incorporating new companies? To be certain, the economy will only turn around if and when the private sector becomes confident. When the private sector becomes confident the Securities and Exchange Commission of Pakistan (SECP) experiences an increased number of entrepreneurs approaching the SECP for the registration of new companies. Lo and behold, the incorporation of new companies has gone up by a wholesome 17 percent from the 1st of July, 2013 to the 30th of November, 2013 as compared to the same period in 2012.

Is the economy turning around? Is the private sector importing machinery? To be certain, the economy will only turn around if and when the private sector becomes confident. When the private sector becomes confident it begins to import machinery. Lo and behold, machinery import is up 26 percent. When the private sector becomes confident it begins to construct. Lo and behold, as of February 2014, local cement dispatches have gone up by a healthy nine percent.

The theory behind leading economic indicators is that they turn positive prior to the economy turning positive. Question: Is the economy finally turning around? Answer: Leading economic indicators are painting an optimistic scenario.

The biggest threat remains terrorism for which the government has ad-hocism in place of strategy. In the monetary domain, the State Bank of Pakistan’s independence has been compromised and that cannot be good for anything financial. The other threat is from the stream of external payments that are bound to keep the economy under pressure.

Yes, there are other threats as well. Among them: the budgetary deficit, bank lending to the government, a sharp decline in net foreign assets, an anaemic revenue base and expenditures running way ahead of revenues.

On the ground there are three growth prerequisites: political certainty, economic certainty and policy predictability. According to the World Bank, “A range of governance and business environment indicators suggest that deep improvements in governance are needed to unleash Pakistan’s growth potential.”

“Economics is extremely useful as a form of employment for economists” – Galbraith

The writer is a columnist based in Islamabad. Email: farrukh15@hotmail.com 

Twitter: @saleemfarrukh