Day: June 14, 2024

A Subsidiary Loan Agreement worth 25 million for the Mohmand Dam Hydropower Project was signed in Islamabad today. It was signed between the Ministry of Economic Affairs and the Water and Power Development Authority. This significant financing comes as a result of the Kuwait Fund's commitment to extend a total of 100 million dollars to support the Mohmand Dam Hydropower Project. The total financing will be disbursed through four equal loans, each amounting to 25 million dollars. The first loan agreement was signed between the Government of Pakistan and the Kuwait Fund this month. The Mohmand Dam is a comprehensive infrastructure project designed to address multiple needs. It aims to generate approximately 2,862 GWH of electricity annually with an installed capacity of 800 MW, significantly reducing the existing energy supply gap. Additionally, the dam will create an active storage reservoir with a capacity of about 1,594 million cubic meters, ensuring a reliable and sustained supply of irrigation water. T he 213-meter high structure will also play a critical role in flood control, mitigating the risk of flood damage and providing essential flood protection. Furthermore, the project will supply 13.32 cubic meters per second of drinking water to Peshawar. Source: Radio Pakistan

World Blood Donor Day was observed on Friday to raise awareness about the need of safe blood and blood products to save lives. This year, the World Blood Donor Day theme is 20 years of celebrating giving: thank you, blood donors!. The day is observed to raise awareness about the importance of blood donation and to urge more people to donate blood. The day also urges people to donate blood to help the constant supply of healthy blood for the healthcare industry. Source: Radio Pakistan

Minister for Information and Broadcasting Attaullah Tarar has announced to restore health insurance scheme for journalists. Addressing a news conference in Islamabad today, he said five thousand journalists will be given health insurance cover in the first phase, while 10,000 more media workers will be facilitated in the second phase. He said a hefty amount of one billion rupees has been allocated for this purpose. The Minister further said that journalists will also be compensated under this package on unnatural death. Attaullah Tarar said the government will continue playing its due role in making lives of the media workers easy. Highlighting the importance of countering and checking fake news, he said government fully believes in the freedom of expression, but there should be a forum or mechanism to address concerns of an individual. He emphasized that all stakeholders, including journalists, should sit-together to jointly formulate a policy to counter fake news. Source: Radio Pakistan

Minister for Information and Broadcasting Attaullah Tarar has announced to restore health insurance scheme for journalists. Addressing a news conference in Islamabad today, he said five thousand journalists will be given health insurance cover in the first phase, while 10,000 more media workers will be facilitated in the second phase. He said a hefty amount of one billion rupees has been allocated for this purpose. The Minister further said that journalists will also be compensated under this package on unnatural death. Attaullah Tarar said the government will continue playing its due role in making lives of the media workers easy. Highlighting the importance of countering and checking fake news, he said government fully believes in the freedom of expression, but there should be a forum or mechanism to address concerns of an individual. He emphasized that all stakeholders, including journalists, should sit-together to jointly formulate a policy to counter fake news. Source: Radio Pakistan

The Senate today continued discussion on the Finance Bill 2024-25. Participating in the debate, Nasir Abbas said problems being faced by the industries including textile industry should be addressed. He said increase in Petroleum Development Levy will only further increase the inflation rate. Maulana Atta-ur-Rehman said people are looking towards the political leadership to take the country in the right direction. Sarmad Ali said the government should withdraw ten percent General Sales Tax on import of newsprint, saying this is important for the survival of newspapers. In her remarks, Saadia Abbasi said the government policies should be pro-people, pro-business, pro-agriculture and pro-youth. She said steps should be taken to cut government expenditures. Zarqa Suharwardy Taimur said Pakistan is the victim of climate change. She said we should forcefully present our case at the world level to secure finances from the world institutions to cope with the disastrous impacts of climate change. Nasir Mahmoud commended the increase in the salaries of employees saying it will improve their purchasing power. Mohsin Aziz said the affluent class should be taxed instead of the low income groups. Rubina Qaim Khani said the budget carries no measures for empowerment of women and minorities. Fawzia Arshad said allocations made in the budget for health and education are inadequate. The House has now been adjourned to meet again on Thursday next at five pm. Source: Radio Pakistan

Prime Minister Muhammad Shehbaz Sharif has directed authorities concerned to hold consultation with globally reputed consultancy firms to realize investment agreements with the friendly countries. Talking to a delegation of an International Consultancy Firm in Islamabad today, he also directed for consultation with the reputed firms for reduction in the volume of government's infrastructure and to enhance effectiveness of the governance system. He told the delegation that there exists a huge potential for investment in minerals and energy sectors. Appreciating the key role of the private sector in national economic development, the Prime Minister assured all-out facilitation by the government for economic revival. The delegation gave suggestions for further expansion of foreign investment in Pakistan. Source: Radio Pakistan