(BY : Ijaz Hashmi) High-level meeting to review energy situation in Country today.
Prime Minister Nawaz Sharif will preside a meeting of the cabinet committee on energy in Islamabad on Tuesday. The Committee had also held a meeting at which the Prime Minister had directed for minimum loadshedding in the month of Ramazan-ul-Mubarak. On the occasion, Nawaz Sharif said government is fully cognizant of the problems faced by masses due to power shortage and it will not rest till a significant relief is provided to them. The meeting was informed that an additional nine thousand one hundred seven megawatt electricity will be added to the system by March next year. Nawaz Sharif also chaired a meeting on roads and motorways and directed the authorities concerned to adhere to the timelines of development projects without compromising transparency and quality of the work. Director General FWO and Chairman NHA briefed the Prime Minister regarding progress on various roads and motorway projects being undertaken across the country. The Prime Minister said roads and motorways would help in boosting the economy of Pakistan by providing access of far-flung areas to urban centers besides generating employment opportunities.
( BY : Ijaz Hashmi ) Lowari tunnel project to be completed next month at a cost of Rs26b
National Highway Authority has expedited work on the Lowari Tunnel on the direction of Prime Minister Nawaz Sharif and the project will be completed next month.
Project Director Muhammad Ibrahim told APP that 94 percent work on the project has been completed at a cost of 21 billion rupees.
After completion, Lowari Tunnel will provide round the clock traveling facility to the people of Chitral even during the harsh winter season.
He said the Prime Minister will be requested to inaugurate the Lowari Tunnel next month.
Terming it a gift of Prime Minister for people of Chitral, he said PML-N government after coming to power had approved additional funds for Lowari Tunnel to ensure its completion as early as possible.
(BY : Ijaz Hasmi ) President Erdoğan commemorated the 564th anniversary of Istanbul’s conquest, and said: “At a time when the world is suffering the pain of restructuring, responsibilities of crucial importance fall to Turkey and its display window, Istanbul. Aware of this situation, we are making preparations for a new era of leap forward in democracy and economy. We should thus first make the best use of the period until 2019.”
(BY : Ijaz Hashmi ) New Federal Budget to create jobs, alleviate poverty, improve life of common man: Isahq Dar
Finance Minister Ishaq Dar says the thrust of the new federal budget is on growth, job creation, poverty alleviation and improving living standard of the common man.
He was explaining salient features of the federal budget 2017-18 at a news conference in Islamabad on Saturday.
The Finance Minister said that this is the best time reach consuls on the charter of economy for sustainability and achievement of socio economic goals and macroeconomic stability. He said that we have saved and consolidated the macroeconomic goals. He said we will have to work hard with unity for strengthening the economy of the country. He said our priority is to strengthen the economy of the country.
Ishaq Dar said that the government will also present the next federal budget and no constitutional amendments are needed in this regard.
He said that defence has been given preference in the next budget and 920 billion rupees have been allocated for this sector. He said 1001 billion rupees have been allocated for PSDP and after inclusion of the provincial PSDP the amount will reach to 2100 billion rupees.
The Finance Minister said that 3.4 % growth in agriculture sector has been witnessed and we will have to work hard to sustain it. He said agriculture credit has been set at 1001 billion rupees. He said that two million small farmers with less than 12.5 acres holding will be given loan up to fifty thousand rupees at 9.9 percent interest rate. He said relief has also been given to farmers and poultry farmers in a number of ways by decreasing sales tax. He said its impact will be positive on agriculture. He said for decrease on the sales tax of DAP the government will have to bear 13.8 billion losses.
He said the main targets are GDP 6 percent and inflation 6 percent. He said 10000 MW power will be added in the national grid by next year. He said safety net has been increased with 121 billion rupees. He said the current expenditure will be kept below the inflation to reduce the budget deficit.
He said tax incentives have been given for agriculture and information technology. He said that IT ministry will train one million free lancers to create new jobs for youth. He said the actual tax in this budget is 87 billion rupees because the total tax is 120 billion and 33 billion is relief.
Meanwhile, Finance Minister has clarified that the regime for milk was the same as it was last year hence there should be no increase in its prices during the financial year 2017-18.
The minister said impression was being created in social media that milk prices had been increased and the consumers should know that this was totally wrong.
Pakistan has opened Friendship (FS) gate Chaman on humanitarian grounds in Ramazan on request from Afghan authorities.
After the Chaman incident, Pakistan has its area under eff con having pushed back Afghan Border police troops. Census has been completed in the Pakistani side of the divided villages. It has been agreed upon by Pakistan authorities that cease fire shall continue to be maintained and no border violation will be acceptable and Pakistani troops will maintian its positions along International Border in Killi Luqman and Killi Jahangir on Pakistani side of thr border.