Day: June 28, 2024

Minister for Finance Muhammad Aurangzeb says economy has achieved stability. Responding to the points of opposition on the Finance Bill in National Assembly today, he expressed the government's determination to further enhance the stabilization process with the goal of steering the economy towards growth. Sharing the economic indicators, the Finance Minister pointed out that there is reduction in the Current Account Deficit and the fiscal deficit is also under control. He said the currency has been stable over the last six to seven months, expressing the confidence that this stability will remain in the time ahead. He said the foreign exchange reserves have reached nine billion dollars and that the inflation has come down to eleven percent from thirty-eight percent. Muhammad Aurangzeb said enhancing the tax to GDP ratio and reforms in State Owned Enterprises and energy sector are part of the budget for the next fiscal year. The Finance Minister said the tax to GDP ratio will be increased to thirteen percent in the next three years. He said our privatization plan consists of two to three years and it will be executed. Source: Radio Pakistan

Economic Coordination Committee of the Cabinet has given the principle approval to the Finance Division for the establishment of Pension Fund. The approval was given during a meeting of the Economic Coordination Committee chaired by Finance Minister Muhammad Aurangzeb in Islamabad. The committee also approved the proposal of defined contributory scheme for the new entrants from first July this year and for armed forces from first July next year. The ECC also approved technical supplementary grants to various ministries and divisions. Source: Radio Pakistan

Prime Minister Shehbaz Sharif has said that five hundred and ninety billion rupees have been given to Khyber Pakhtunkhwa over the years to augment its capacity in the war on terrorism. Responding to the points of the opposition in the National Assembly today, he recalled that the province was given an additional one percent in resources in the National Finance Commission Award, agreed upon back in 2010. The Prime Minister, however, regretted that counter terrorism department has yet not been established in Khyber Pakhtunkhwa. He said the people of Khyber Pakhtunkhwa are brave people and they have rendered immense sacrifices in the war on terrorism. Source: Radio Pakistan

Central Development Working Party has approved 26 development projects worth 900 billion rupees. The approval was granted during meeting of CDWP that was held in Islamabad with Deputy Chairman Planning Commission Mohammad Jehanzeb Khan in the chair. The Central Development Working Party recommended nine projects worth 867 billion rupees to the Executive Committee of the National Economic Council for its consideration. Source: Radio Pakistan

Pakistan says the Resolution 901 adopted by the US House of Representatives is an unsolicited interference in Pakistan's domestic affairs which is neither welcomed nor acceptable. At her weekly media briefing in Islamabad today, Foreign Office Spokesperson Mumtaz Zahra Baloch said the resolution clearly stems from an inadequate and erroneous understanding of political and electoral process of Pakistan. She said it is also an unsolicited interference in Pakistan's domestic affairs. We believe that bilateral relations between countries should be based on mutual respect and sovereign equality. The Spokesperson said the timing and context of the resolution is also not conducive to the current positive trajectory of bilateral ties between Pakistan and the United States. Replying a question, she said Pakistan would like to develop its relations with the United States on the basis of mutual trust and confidence and non-interference in each other's domestic affairs. The Spokesperson expressed concerns over the continued suppression of the democratic rights of the Kashmiri people in Indian Illegally Occupied Jammu and Kashmir. She said the oppressive measures are yet another example of the autocratic approach of the Indian authorities and a violation of the fundamental freedoms and human rights, especially of the rights of association and peaceful assembly. Mumtaz Zahra Baloch said the government has appointed Additional Foreign Secretary (Middle East and SIFC) Ambassador Rizwan Saeed Sheikh as Pakistan's Ambassador to Washington. She further said that Asim Iftikhar, currently serving as Pakistan's Envoy in France, has also been appointed as Pakistan's Additional Permanent Representative to the United Nations in New York. Replying to a question, the Spokesperson said Pakistan will participate in Doha-III meeting on Afghanistan. She said Pakistan will be represented by Special Representative on Afghanistan Ambassador Asif Durrani and Ambassador to Afghanistan Obaidur Rehman Nizamani in the talks. Answering yet an other question, Mumtaz Zahra Baloch said Pakistan has always stated that it respects the sovereignty and territorial integrity of Afghanistan. She said it is also critical that Afghanistan takes effective actions against those terrorists and groups, which are responsible for terror incidents and attacks inside Pakistan. The Spokesperson said Pakistan has also urged Afghanistan to ensure that any terrorist hideouts that destabilize the region should be eliminated. Pakistan expects Afghanistan to fulfill this commitment made to the international community, specifically Pakistan. Source: Radio Pakistan

The Benazir Income Support Programme and the Ministry of Information Technology have agreed to devise a strategy to combat fraudulent activities targeting innocent people. During a meeting with Minister of State for IT and Telecommunication, Ms. Shaza Fatima Khawaja, Chairperson of Benazir Income Support Programme, Senator Rubina Khalid emphasized the need for a national-level strategy with MOIT's assistance to protect people from deceptive practices exploiting the BISP name. Senator Rubina Khalid highlighted BISP's ongoing efforts to alleviate poverty through technical skills education for its beneficiaries. Stressing the importance of skill development in poverty alleviation, she invited MOIT to recommend IT-related courses and institutions for BISP beneficiary families. She said BISP plans to present a comprehensive digital solution to MOIT for consultation and collaboration to ensure transparent transactions and minimize fraudulent activities. Shaza Fatima Khawaja assured full cooperation in develop ing a digital strategy for beneficiary payments. Source: Radio Pakistan