Day: March 21, 2024

Country Director Asian Development Bank Young Ye called on Finance Minister Muhammad Aurangzeb in Islamabad today to discuss ongoing collaborations and future initiatives aimed at fostering economic development in Pakistan.

ADB Country Director Young Ye congratulated the Minister on staff level agreement with the IMF and stated that the market has positively responded to the development.

During the meeting, Muhammad Aurangzeb expressed appreciation for the support provided by the Asian Development Bank over the years. He particularly highlighted ADB’s assistance through Policy Based Lending to mitigate the impacts of the pandemic and floods.

Furthermore, the status of ongoing policy-based programs, including the Public Private Partnership (PPP) Program and the Climate and Disaster Resilience Enhancement Program were also discussed.

Acknowledging Asian Development Bank’s pivotal role in promoting climate-conscious programs across Asia and the Pacific, the Minister emphasized the alignment of ADB’s climate
operations with Pakistan’s own climate goals and commitments. He outlined government’s priority areas for achieving macro-economic stability and sustainability, including measures to enhance revenue, State Owned Enterprises reforms, privatization, and public-private partnerships.

Both the sides reaffirmed their commitment to strengthening the partnership between Pakistan and the Asian Development Bank, with a shared goal of promoting sustainable economic growth and development in the country.

Source: Radio Pakistan

Minister for Information and Broadcasting Attaullah Tarar has reiterated the government’s commitment to the national interests vowing all-out measures to protect the interests of the country.

Addressing a news conference in Islamabad, he said certainty has returned in the market that shows positive indicators following the staff-level agreement reached by Pakistan and the IMF.

Attaullah Tarar said austerity measures were discussed in cabinet meeting at length and Prime Minister Shehbaz Sharif welcomed the cabinet members’ decision for forgoing their salaries.

The Information Minister said hearing at the US Congress about the Cipher has again proved that Cipher conspiracy of PTI was a lie and complete false. He said the law will take its course in the cipher case.

Source: Radio Pakistan

Pakistan and Azerbaijan have agreed to further deepen their bilateral cooperation in all fields especially peaceful use of nuclear technology.

The understanding was reached during meeting between Foreign Minister Ishaq Dar and Azerbaijan’s Foreign Minister Bayramov Jeyhun on the sidelines of Nuclear Energy Summit in Brussels, Belgium.

They discussed ways to enhance cooperation for peaceful use of nuclear energy in health and agriculture sector.

They noted that the two countries have already been successfully collaborating in nuclear applications in Agriculture.

The Ministers reaffirmed the resolve to combat climate change through use of nuclear energy.

Ishaq Dar expressed Pakistan’s readiness to share experience and expertise in peaceful uses of Nuclear Technology with Azerbaijan.

Source: Radio Pakistan

Pakistan and Turkiye have expressed the desire to strengthen cooperation in the financial sectors between two countries, fostering deeper economic ties and enhancing bilateral relations for the prosperity of both nations.

This understanding reached during a meeting between Finance Minister Muhammad Aurangzeb and Turkish Ambassador Dr. Mehmet Pacaci in Islamabad.

During the meeting, they discussed matters of mutual interest and further strengthening the bilateral relations between Pakistan and Turkiye.

Muhammad Aurangzeb expressed sincere acknowledgment of the brotherly relations between Pakistan and Turkiye, which are deeply rooted in shared common faith, history, and cultural affinities.

Highlighting the excellent political and social relations between the two countries, the Finance Minister emphasized the necessity of translating these relations into robust economic and commercial collaboration to their full potential.

He welcomed the signing of the Trade in Goods Agreement and Preferential Trade Agree
ment in 2022 as a positive step towards achieving the bilateral trade target of five billion dollars in the medium term.

The Finance Minister also apprised the Turkish Ambassador of the recently established Special Investment Facilitation Council in Pakistan. SIFC is aimed at attracting investments from friendly countries in various sectors, such as defense, agriculture, mines and minerals, energy, and the IT industry. He further emphasized the need to actively work on enhancing trade and investment portfolios through Government-to-Government and Business to Business arrangements in mutually agreed areas of interest.

The Minister also highlighted the establishment of the High-Level Strategic Cooperation Council in 2010 between Pakistan and Turkiye, aimed at developing a Strategic Economic Framework for cooperation in various sectors including energy, banking, commerce, railways, and tourism. He noted that a Joint Plan of Action under the Strategic Economic Framework is currently being implemented.

Source:
Radio Pakistan

Interior Minister Mohsin Naqvi has directed to launch massive crackdown against electricity and gas theft across the country.

Presiding over a meeting in Islamabad today, he gave this special task to FIA and also constituted special teams against electricity and gas theft. He also directed to take legal action against people involved in power and gas theft.

During the meeting, the FIA officials presented a detailed report about boat accident in Greek. It was also informed that the government’s stern action against “Hundi” and “Hawala” has strengthened the value of rupee.

Mohsin Naqvi also instructed to ensure legal action against those involved in human trafficking. He further directed to tight noose against those involved in “Hundi” and “Hawala” business.

Meanwhile, in a message on social media platform X, the Interior Minister said there will be no discrimination during the power and gas theft campaign and all responsible will be put behind the bars.

He said these proactive initiatives are aimed at cur
bing the rampant theft of essential utilities, ensuring fair distribution and their access for all citizens.

Source: Radio Pakistan