International Day of Happiness is being observed today.
The United Nations has called for balanced approach to economic growth that promotes the happiness and well-being of all peoples.
Source: Radio Pakistan
FM to represent Pakistan at Nuclear Energy Summit in Brussels tomorrow
Foreign Minister Mohammad Ishaq Dar is leaving for Brussels today to participate in the First Nuclear Energy Summit, scheduled to be held tomorrow.
On the sidelines of the summit, the Foreign Minister will hold bilateral meetings with leaders and foreign ministers of participating countries.
In a statement, the Foreign Office said the Foreign Minister’s participation in the Summit will contribute to further strengthening of Pakistan’s collaboration with International Atomic Energy Agency (IAEA) and developing a shared perspective on peaceful uses of nuclear energy.
Source: Radio Pakistan
SIFC playing role in coordinating financial expenditure b/w federal Govt, provinces
Special Investment Facilitation Council (SIFC) is playing its role in coordinating financial expenditure between the federal government and the provinces in accordance with the constitutional division of their responsibilities.
The federal government’s funding in subsidies and projects, which fall under the jurisdiction of the provinces, is estimated at about one trillion rupees. These projects include Benazir Income Support Program (BISP), provincial developmental projects under the Public Sector Development Program (PSDP), higher education, electricity for tube wells and subsidies on fertilizers.
The efforts of the Special Investment Facilitation Council (SIFC) will help remove the financial constraints of the federal government and ensure better utilization of funds available to the provinces.
Through the platform of the SIFC, the government has made a concerted effort to stabilize the economy and move towards growth.
Source: Radio Pakistan
Pakistan, IMF reach staff-level agreement on 2nd and final review
Pakistan and International Monetary Fund (IMF) have reached a staff level agreement on the second and final review under Stand by arrangement.
This came during meetings between Pakistani authorities and the IMF team led by Nathan Porter in Islamabad.
Pakistan will receive 1.1 billion dollars after approval from the IMF’s Executive Board.
In his statement following talks, Nathan Porter said Pakistan’s economic and financial position has improved in the months since the first review, with growth and confidence continuing to recover on the back of prudent policy management and the resumption of inflows from multilateral and bilateral partners.
Nathan Porter recognized the new government’s commitment to continue the policy efforts that started under the current SBA to entrench economic and financial stability for the remainder of this year.
The IMF statement further acknowledged that the State Bank of Pakistan remains committed to maintaining a prudent monetary policy to lower inflation and ensure exchange r
ate flexibility and transparency in the operations of the foreign exchange market.
The IMF team thanked the Pakistani authorities, private sector, and development partners for fruitful discussions and cooperation throughout this mission.
Source: Radio Pakistan
Pakistan calls UNSC reforms essential to address challenges of peace, security
Pakistan has called upon the United Nations Security Council to make accountability, transparency, inclusivity and democracy the building blocs of its working methods.
Making his statement at Intergovernmental Negotiations Framework meeting, Pakistan’s Permanent Representative to the UN Munir Akram called UN Security Council reforms essential to address the increasingly complex global challenges of peace and security.
He shared Pakistan’s suggestions to bring about key improvements in the working methods of the UNSC.
Source: Radio Pakistan