FBR Rubbishes Claims about Dollar Smuggling across Pak-Afghan Border

The Federal Board of Revenue (FBR) has categorically rejected that dollars are being smuggled from Pakistan across the Pakistan-Afghanistan border.

A press release issued by FBR on Friday states: “FBR has categorically rebutted the unfounded, malicious intent and misleading in content, a propaganda being advanced by some irresponsible elements that there was a huge flight of dollars from Pakistan.”

The FBR has further clarified that previously the bilateral trade between Pakistan and Afghanistan was carried out in US Dollars, but now the same is being conducted in Pakistani Rupees. The FBR, the news release further says, has taken very stringent enforcement measures at the airports to eliminate the possibility of any such unethical practices. It reads: “Pakistan Customs has made it mandatory for all passengers flying out of [the] country to undergo thorough personal scrutiny and 100% declaration of currency through an automated process in order to ward off this nefarious and illegal activity. This leaves [a] little possibility of the subject undesirable practice.”

The FBR has announced that the Chairman FBR and Member (Customs Operations) are likely to visit the Pak-Afghan border to oversee the functioning of the above mechanism on the ground.

It is further reiterated that this transparent and efficient mechanism being adopted at all the airports across Pakistan is facilitating the smooth and easy movement of outbound passengers, thus reducing significantly their time and cost, the press release concludes.

Source: Pro Pakistani

Bank Guarantee Amount Increased to Rs. 500,000 for Depositors

The Deposit Protection Corporation has increased the guarantee amount for all the eligible depositors of banks from Rs. 250,000 to Rs. 500,000.

The decision was made by the members of its board in their meeting on 6 September.

This increased guarantee amount now provides full protection to 95 percent of the eligible depositors. The main objective of the deposit protection scheme is to safeguard the depositors’ interests and enhance their trust in Pakistan’s banking sector.

The deposit protection facility is applicable to all eligible depositors and does not require further subscriptions or the registration of the depositors. The guarantee amount or protected deposit becomes payable to the eligible depositors only if the State Bank of Pakistan declares a bank as a failed bank and is not payable under any other circumstances.

All the banks scheduled under subsection (2) of Section 37 of the State Bank of Pakistan Act, 1956 (XXXIII of 1956), unless exempted or excluded by the board, will compulsorily be member institutions of the corporation and liable to pay the prescribed premium.

The Deposit Protection Corporation (DPC) collects premiums from member institutions as empowered by the DPC Act, 2016, and manages the received funds separately for both Islamic and conventional premiums.

Source: Pro Pakistani

Pakistan Committed to Achieving UN SDGs: Fakhar Imam

Federal Minister of National Food Security and Research Syed Fakhar Imam has stated that the Government of Pakistan is committed to achieving the United Nations (UN) Sustainable Development Goals (SDGs), particularly the zero hunger goal, by establishing robust partnerships and coalitions.

Addressing the UN States Food Systems Pre-Summit 2021 on Friday, the Minister said Pakistan considered the UN Food Systems Summit 2021 as an opportunity to review its progress on the SDGs, especially with regard to meeting the challenges lying in achieving the zero hunger goal.

“Prime Minister Imran Khan and his team are committed to achieving zero hunger and other SDGs,” he stated. He informed the Pre-Summit meet that Pakistan had prepared Working Papers on all five Action Tracks through an all-inclusive consultative process and had also chalked out action plans to implement the proposed “Game-changing Solutions”.

Fakhar Imam highlighted that Pakistan was facing food and nutritional insecurity challenges for its population of over 215 million, annually costing the country US $ 7.6 billion or three percent of its GDP. The agriculture sector’s share in the national GDP, he said, was 19.2 percent and it played a lifeline of the national economy in various terms.

He underscored that Pakistan was blessed with a diversified climate, making 10 highly diversified agro-ecologies available. He said, “Pakistan has 23 million hectares of cultivable land, 1000 kilometers of coastal line with three big dams and more than 100 small dams. All this signifies that a system-based approach is more appropriate for us.”

He reaffirmed that Pakistan intended to enhance diversified food production in all agro-ecologies, minimizing post-harvest losses and promoting kitchen gardening as well as value chains. He said Pakistan also wanted to promote organic farming, cultivation of green manure crops, use of resource conservation technologies, and building the capacity of all stakeholders and Small and Medium Enterprises. He added that the country focused on building resilience by devising innovative site-specific technologies. “The underlying intention was to shift our consumers from staple cereal dominated diets to sustainable, diversified, and healthy consumption patterns,” he stressed.

The Minister informed the Pre-Summit participants that the Government of Pakistan had set up Agriculture Innovation Fund. He appreciated the Food and Agriculture Organization of the United Nations, Global Alliance for Improved Nutrition, International Fund for Agricultural Development, and World Food Program for their support to Pakistan. He also underlined the efforts of the Pakistan Agriculture Research Council.

Source: Pro Pakistani

HEC Launches Cohort II of National Faculty Development Program 2021

The National Academy of Higher Education, HEC, has launched the training of Cohort-II of the Interim Placement of Fresh PhDs Program fellows under the National Faculty Development Programme 2021.

As many as 177 freshly qualified PhDs of Cohort I have successfully completed their training.

The National Faculty Development Program (NFDP) 2021 is a four-week online learning program to accelerate the transfer of essential knowledge, skills, and attitudes in three dimensions of a successful career as a faculty member, namely teaching and learning, applied research, and professional practice.

It is designed for pre-placement training of the Interim Placement of Fresh PhDs Program (IPFP) fellows and will be delivered online mode. International and national experts will lead the delivery to ensure that the program is on par with international standards.

The Rector of the National Academy of Higher Education (NAHE), Dr. Shaheen Sardar Ali, inaugurated the ceremony for the launch of the Cohort II of NFDP 2021.

In her opening remarks, she highlighted the NAHE ‘s efforts in running the IPFP, the NFDP, and other training programs and initiatives, and reaffirmed her commitment to delivering the best possible within the limited available resources.

Dr. Shaheen also emphasized the significance and need for skillful and well-equipped teachers to raise the quality and standards of higher education in the country.

She advised the participants to gain maximum benefits from the opportunity for which the NAHE has engaged renowned national and international resource persons.

The participants were given an online orientation about the selected IT tools and other techniques being used or to be adopted throughout the online learning program.

A number of different activities and technologies will be utilized to achieve its learning objectives, which include daily live webinars using Microsoft Teams, Reading Boot Camps, Writing Boot Camps, Group Projects, Juries, Panels, and Mentoring.

The participants’ success is based on their assessments in all these activities and assignments. The learning assessment will both be formative and summative.

The third and last Cohort of the NFDP 2021 is scheduled to be held between mid-November and mid-December 2021.

Source: Pro Pakistani

KP Govt to Recheck Papers of Girl Who Obtained 100 Percent Marks

The Khyber Pakhtunkhwa (KP) government has decided to reassess the examination copies of a brilliant female student from Mardan who created a record by obtaining 100 percent marks in the Board of Intermediate and Secondary Education (BISE) examinations.

Qandeel Khan, an orphan child, had shocked everyone by attaining 11000 out of 1100 marks in intermediate examinations. BISE Mardan held a special ceremony on Tuesday in the honor of position-holder students. That was when Qandeel, the girl who topped the intermediate board exams, was introduced.

Taking notice of the unusual development, the provincial minister for Elementary and Secondary Education, Shahram Khan Tarakai, set up an assessment committee on Wednesday to recheck Qandeel’s and other students’ copies who obtained nearly 100 percent marks.

A notification in this regard said that the committee will recheck and verify the copies of individual students securing above 1090 marks out of the total of 1100 in the matriculation and intermediate examinations.

The committee will also verify the academic track record of these students and the history of their present marks and those obtained in previous examinations.

Source: Pro Pakistani

Rupee Set to Break All-Time Record Against the US Dollar

Continuing with its declining dynamism, the Pakistani Rupee (PKR) lost 35 paisas against the US Dollar (USD) on Thursday to close at 169.03.

The currency depreciated by 16 paisas against the USD and closed at 168.68 on September 22. It is nearing the all-time low of 169.12 against USD that it crashed to on 15 September.

In a bid to better forecast imports and indirectly address the PKR depreciation, the State Bank of Pakistan has directed banks to share a five-day schedule of upcoming import payments.

The central bank also ordered commercial banks to seek authorization for import payments valued at over $500,000 per transaction. With this directive, the central bank lowered the prior payment cut-off of $1 million per transaction.

The government raised Rs. 842.3 billion for three-month treasury bills at an auction held on September 22, in which the cut-off yields on treasury bills were increased by up to 49 basis points.

The PKR has also depreciated against other major currencies. It has lost 1 paisa against the Euro, 68 paisas against the Pound Sterling (GBP), 1.42 paisas against the Canadian Dollar (CAD), and 45 paisas against the Australian Dollar (AUD).

Source: Pro Pakistani