Global Times: Xinjiang no longer a remote corner, but a core area, hub in BRI: Xi

BEIJING, July 20, 2022 /PRNewswire/ — Eight years after his visit to China’s Xinjiang region in 2014, Chinese President Xi Jinping made a second trip to the northwest region and stressed efforts to fully and faithfully implement the policies of the Communist Party of China for the governance of Xinjiang in the new era, highlighting social stability and lasting security as the overarching goal and the region’s significant role in building the Belt and Road Initiative.

Analysts said Xi’s visit to Xinjiang signals that after achieving fundamental changes from disturbance to stability, the Xinjiang region is entering a new phase of being built into the bridgehead of China’s westward opening-up.

While staying in the Xinjiang region from Tuesday to Friday, President Xi visited many places in Urumqi. He also went to Shihezi and Turpan and inspected villages and the Xinjiang Production and Construction Corps and had communications with local residents.

During the visit, President Xi also called for developing Xinjiang into a region that is united, harmonious, prosperous, and culturally advanced, with healthy ecosystems and people living and working in contentment.

Xi’s visit to the Xinjiang region is a strong and significant indication that while maintaining prolonged stability and achieving economic development, Xinjiang region is stepping into a new phase of economic development and has been built as a core hub for the building of China’s Belt and Road Initiative and the bridgehead for westward opening-up, Wang Yuting, associate professor of the Institute of Chinese Borderland Studies at the Chinese Academy of Social Sciences, told the Global Times.

Xinjiang and the whole western region of China have realized stability, laying the foundation for China to further boost its western region and deepen cooperation with Central and West Asian countries, said Wang, noting that Xinjiang’s role as a core hub of the Silk Road Economic Belt has significant strategic value and meaning.

On Tuesday, Xi visited the Urumqi International Land Port. “The Belt and Road Initiative has yielded fruitful results since it was initiated. As the joint building of BRI continues to advance, Xinjiang is no longer a remote corner but a core area and a hub. What you have done is of historic significance,” Xi said.

Wang also pointed out that Xi’s visit in Xinjiang also showcased China’s enriched policy for the governance of Xinjiang in the new era, including maintaining stability in the region through ethnic unity, nurturing the cultures of Xinjiang, promoting prosperity among the local residents, and developing Xinjiang from a long-term perspective.

China’s products can be exported to the US and the West from coastal areas and also to other regions via the land hub of Xinjiang, which can not only meet the increasingly strong demand from neighboring countries but also help speed up the region’s opening-up to find new ways out, Wang said.

PIA Announces Up to 15% Discount on International Flights

Federal Minister for Railways Khawaja Saad Rafique Wednesday announced that Pakistan International Airlines (PIA) has decided to bring down its ticket fares of international flights by up to 15 percent.

In a video message posted on Twitter, the minister said that PIA had earlier slashed ticket fares of domestic routes by 10 percent. He added that after calculations the national flag carrier has decided to cut ticket fares for certain international routes as well.

Ticket fares of flights to the United Arab Emirates and other Gulf countries have been cut down by 15 percent, and for flights to Saudi Arabia fares have been reduced by 10 percent. Moreover, ticket fares to Canada have been reduced by 8 percent. The new fares will be effective immediately.

The minister said that the government will provide immediate relief to passengers in terms of ticket fares if oil prices come down further.

Source: Pro Pakistan

Pakistan urges effective response to food, fuel & finance challenges confronting poorest nations

At the United Nations, Pakistan has called for building a coherent and effective response to the immediate challenges of food, fuel and finance that have adversely impacted the poorest countries and people.

The proposal was put forth by Pakistan's Permanent Representative to the United Naitons, Munir Akram while participating in a discussion on the objective of preserving multilateralism at the UN Economic and Social Council.

He said the COVID-19 pandemic, climate change and conflicts are the greatest challenges the world is confronted with.

The Pakistani envoy said it is time to utilize the international mechanisms of the UN system to build a coherent and effective response to these challenges and revive the hopes for realization of the Sustainable Development Goals.

Source: Radio Pakistan

State Bank Officials Say Pakistan Not at Risk of Default

Senior officials of the State Bank of Pakistan (SBP) are of the view that Pakistan’s economic situation has improved in recent months and the country is not at risk of default.

According to sources, the officials are confident that with the International Monetary Fund (IMF) program secured, meeting the external financing requirements would not be a problem.

According to sources, the IMF has assured Pakistani authorities of prompt approval of the $1.17 billion tranche from the Executive Board after August 15.

According to sources, the IMF has assured Pakistani authorities of prompt approval of the $1.17 billion tranche from the Executive Board after August 15.

For the past two years, GDP growth has ranged between 5 percent and 6 percent. However, the growth was not sustainable due to an increase in imports and rising deficit. The central bank expects GDP growth for the current financial year to be around 3 to 4 percent.

According to the central bank officials, Sri Lanka’s deficit is three to four times compared to Pakistan. Moreover, Sri Lanka took more than two years to fix the policy rate and exchange rate, adding that Pakistan’s situation should not be compared with Sri Lanka.

Source: Pro Pakistan

Implementation of IMF’s agreement must for reviving economy: Finance Minister

Finance Minister Miftah Ismail says implementation of the agreement with International Monitory Fund is must for reviving the economy.

Talking to a private television channel, he said the incumbent government is bound to fulfil the conditions under the soft agreement inked with IMF to save the country from default.

The Finance Minister said it is vital for the government to complete its parliamentary tenure in order to boost the economy and streamline the system.

Replying to a question, he said some economic sectors including exports and remittances are showing positive indications for the last few months.

The Finance Minister said efforts are being made to curtail imports and increase exports.

Source: Radio Pakistan

Sherry calls for restructuring of global environmental agenda, equitable resources

Minister for Climate Change Sherry Rehman has called for restructuring of the global environmental agenda and equitable resources to implement the climate commitments made by the world fraternity to address environmental degradation.

The minister, who is in Germany to represent Pakistan at the Petersburg Ministerial Climate Dialogue 2022, made the suggestions in an interview with Al Jazeera.

Sherry Rehman said Pakistan supports the position of developing countries regarding damages caused by climate change impacts.

She said Pakistan has expressed deep concern over the inadequate provision of climate finance by developed countries under the UN Framework Convention on Climate Change.

The Minister urged international community to provide additional and sustainable resources to address the climate change threats.

She said the world must go beyond commitments to achieve common climate change goals.

Source: Radio Pakistan