Day: October 20, 2022

Former Prime Minister Imran Khan was the Chief Guest at the ‘Taleem Aur Hunar Sath Sath’ Orientation Drive held at the University of Sargodha (SU) today to highlight the importance of both academic degrees and skills for wholesome success.

Former Foreign Minister Shah Mahmood Qureshi, Punjab Minister Higher Education Department Raja Yassir Humayun Sarfraz, Punjab Minister Information Technology Dr. Arslan Khalid were among the Distinguished Guests. The Guests of Honour included SU VC Professor Dr. Qaisar Abbas, PITB DG e-Governance Sajid Latif. The keynote speakers were Skills Todo Founder Ayesha Zaman and renowned Artist, Writer & Poet Iftikhar Ahmad Usman.

An initiative of the Government of Punjab, the purpose of the drive is to empower the youth and build awareness about making efforts to nurture both skills and education.

Thousands of students turned out to attend the ‘Taleem Aur Hunar Sath Sath’ event. The drive commenced on 19th September and continues its journey across Punjab.

Source: Punjab Information Technology Board

Minister for Power Division Khurram Dastgir reiterated that the government was committed to honoring the agreements and speed up China Pakistan Economic Corridor (CPEC) projects. He said that Pakistan’s future energy landscape would revolve around indigenous and renewable sources. The minister expressed these views in a meeting with Chinese ambassador Mr Nong Rong who called on him in Islamabad. The minister appreciated the continuous engagement of China in energy sector with Pakistan.

ISLAMABAD: Minister for Power Division Khurram Dastgir on Wednesday reiterated that the government was committed to honoring the agreements and speed up China Pakistan Economic Corridor (CPEC) projects.

He said that Pakistan’s future energy landscape would revolve around indigenous and renewable sources. The minister expressed these views in a meeting with Chinese ambassador Mr Nong Rong who called on him here, said a press release.

The minister appreciated the continuous engagement of China in energy sector with Pakistan. Chinese projects under CPEC had given the much needed boast to power sector back in 2014 and also now when Pakistan’s energy needs have been very high.

Khurram said Thar coal project is of tremendous importance for Pakistan’s future energy needs. In this regard, Pakistan is thankful to Chinese friends.

The ambassador appreciated the present government for their commitment towards CPEC and said that the upcoming visit of Prime Minister Shehbaz Sharif to China would be a great success. Source: China-Pakistan Economic Corridor

Minister for Communications and Postal Services Maulana Asad Mahmood has said the government attaches top priority to improve the road infrastructures of the tribal districts.

He was talking to a delegation, which called on him under the leadership of Federal Minister Mufti Abdul Shakoor in Islamabad.

The Minister for Communication said work on Peshawar Landi Kotal Bypass would be started after consultation with the people.

He said the government will develop tribal districts and do the utmost for their welfare.

On the occasion, he directed the concerned department to consult with tribal districts so that work could be started on the project.

Source: Radio Pakistan

After weeks of continuous decline, the foreign exchange reserves held by the central bank remained largely unchanged on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.

On October 14, the foreign currency reserves held by the SBP were recorded at $7.597 billion, compared to $7.596 billion on October 7. The minor change means that reserves remain at their lowest level since July 2019.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13.25 billion. Net reserves held by banks stood at $5.653 billion, registering an increase of $4 million.

According to Arif Habib Limited, the current level of reserves is enough for an import cover of just 1.1 months.

Pakistan has been struggling with its finances and the massive cost of relief and rehabilitation has raised fears that the country could default. This has led to Finance Minister Ishaq Dar repeatedly assuring that the country would not default, with the latest coming on Wednesday when the finance chief said that “there was no question of Pakistan going into default, as the risk has been averted.”

Pakistan is currently in an International Monetary Fund (IMF) programme and is set to receive around $4 billion in post-flood aid and loans from institutions such as the World Bank, Asian Development Bank, and United Nations.

On Wednesday, JPMorgan’s analysts wrote in a note that “Pakistan’s debt and fiscal dynamics flag rising solvency concerns.”

“Political/fiscal, flood-related external risks, and the possibility of a debt moratorium – and their implications on the IMF programme as well as FX liquidity – likely justify current sovereign bond prices,” the note said addressing the slump in Pakistan’s bonds.

Source: Pro Pakistan