Wednesday, September 30, 2020

ECC to mull over sale price of natural gas today

ECC to mull over sale price of natural gas today
The Economic Coordination Committee (ECC) of the federal cabinet will discuss six-point agenda in its meeting on Wednesday.

The ECC meeting chaired by Adviser to the Prime Minister on Finance Abdul Hafeez Shaikh will likely to discuss the sale price of the natural gas.

According to sources, a summary of the OGRA on sale price of the natural gas will come under consideration in the meeting today.

The ECC will consider over the Oil and Gas Regulatory Authority (OGRA) recommendations with regard to the sale price of natural gas to the gas companies.

The meeting will also consider over cut in commission charges of the Trading Corporation of Pakistan (TCP) over the import of wheat and sugar, sources said.

The ECC session will also mull over converting the National Highway Authority (NHA) loans into government grants, according to sources.

A summary about Rs. 80 billion credit facility to the Power Division would likely to be discussed in the ECC meeting, sources said.



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Tuesday, September 29, 2020

747 more people test positive for coronavirus in 24 hours

747 more people test positive for coronavirus in 24 hours
As many as 747 new cases of the coronavirus surfaced in Pakistan during the previous 24 hours, pushing the number of infections in the country to 312,263.

According to the National Command and Operation Centre (NCOC) on Covid-19, tests of 32,031 people were conducted during this period, out of which 747 turned out to be positive.

The pandemic claimed lives of five more people during the last 24 hours, taking the death toll from the disease to 6,479. 296,881 patients have so far recovered from the disease. There are now 8,903 active cases in the country.

The global death toll from the new coronavirus, which emerged less than a year ago in China and has swept across the world, passed one million this week. The pandemic has ravaged the global economy, inflamed geopolitical tensions and upended lives, from Indian slums and Brazil s jungles to America s biggest city New York.

World sports, live entertainment and international travel ground to a halt as fans, audiences and tourists were forced to stay at home, kept inside by strict measures imposed to curb the virus spread.



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PM Imran Khan calls for one-year extension in G20 debt relief in address to UN summit

Prime Minister Imran Khan
Prime Minister Imran Khan on Tuesday reminded the international community of the crucial need for developing countries to be provided debt relief in the backdrop of the ongoing coronavirus pandemic which has hit developing economies hard.

He called upon the G20 countries in particular to extend the Debt Service Suspension Initiative (DSSI) for another year.

"The request for forbearance under this initiative should not affect the country's credit rating. This is due to force majeure, not mismanagement," the prime minister underscored, while addressing the Financing for Development High-Level Summit on the sidelines of the United Nations General Assembly.

"We must break the shackles of poverty and inequality," the prime minister stressed.

The prime minister, speaking of Pakistan's fight against the virus, said that despite the country's financial constraints "we have injected over $8bn, [nearly] 3% of our GDP to protect our poor and keep the economy going".

"Debt relief is one of the quickest ways to create fiscal space for developing countries. Therefore, in April, I called for a global initiative on debt relief," said the prime minister.

He said that subsequently, Pakistan initiated discussions on this matter at the United Nations and co-led the discussion group on debt vulnerability.

"I welcome the extensive menu of options by each of the six discussion groups. We must prioritise those actions that can have a significant impact and can be quickly implemented," the premier said.

Prime Minister Imran Khan said that multi-national development banks should participate in debt suspension initiatives.

He also called for other short measures which could cover both official and private creditors, including:

The prime minister said that investment in "sustainable infrastructure will be key to economic recovery and realisation of SDGs".

He recommended the creation of a UN infrastructure investment facility "to mobilise an additional $1.5 trillion annually for the developing countries".

The premier, citing findings by the International Monetary Fund (IMF), said that the developing countries would require "an additional $2.5tr to recover from COVID-induced contraction".

He urged the rich countries to support the creation of "at least $500 billion in special drawing rights and relocation of unutilised SDRs (special drawing rights)".

Prime Minister Imran Khan, before concluding, underscored that recovery from recession in a post-pandemic world "must be inclusive and equitable".

 



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Opposition to hold first 'historic' rally under PDM banner on Oct 11 in Quetta

Opposition to hold first 'historic' rally under PDM banner on Oct 11 in Quetta
The first public meeting of the Pakistan Democratic Movement (PDM) — an alliance of almost all major opposition parties that seeks the government's ouster — will be held on October 11 in Quetta, opposition leaders announced on Tuesday.

Addressing a press conference after PDM's first formal meeting in Islamabad, PML-N leader and former prime minister Shahid Khaqan Abbasi said the anti-government movement will be launched across the country after the "historic" rally in Quetta.

"This movement will keep growing and will be successful in ridding Pakistan of this undemocratic process," said Abbasi, accompanied by other opposition leaders. PML-N's Maryam Nawaz and PPP chairperson Bilawal Bhutto-Zardari did not attend the meeting.

 

Abbasi said the meeting strongly condemned the "shrinking" space for democracy in the country and discussed rising inflation, unemployement, "historic corruption", the state of the economy and people's issues.

The meeting also gave approval to PDM's steering committee, which Abbasi said will play its role "in taking the PDM movement forward".

He said the steering committee, which will comprise two members from each party, held its first meeting today as well and an "organisational structure" will be sent to the opposition parties' leaders following which the movement will be presented before the people.

"You will see that this movement will give rise to a true political change in Pakistan's political history," Abbasi said, adding that all opposition parties had consensus on the decisions taken today.

He said the movement's future strategy will be decided in the second meeting of the steering committee next Monday.

The steering committee's convenership will be changed on a rotational basis, with PML-N's Ahsan Iqbal to serve as its convener for the first month.

The PDM huddle comes a day after PML-N president and Leader of the Opposition in the National Assembly Shehbaz Sharif was arrested by the National Accountability Bureau (NAB) in an assets beyond means and money laundering case.

Referring to the arrest, former premier and PPP leader Raja Pervez Ashraf said the meeting resolved that "such tactics will weaken democracy and the anger and grievances of Pakistanis will rise."

Questioning the need to arrest Shehbaz after a reference against him had been filed, Pervez said the "government-NAB nexus" became apparent after government ministers predicted on television the arrests of various opposition leaders.

Ashraf said the Oct 11 rally will be followed by "a series of public meetings" in all provinces.

The meeting was expected to review the situation after Shehbaz’s detention and possible arrest of other leaders, the PTI government’s alleged plan to rig Gilgit-Baltistan and local bodies polls and give a final shape to the decisions taken at the opposition's September 20 multi-party conference (MPC).

The PDM was formed at the MPC, where opposition parties had announced launching of a three-phased anti-government movement under an “action plan” starting from next month with countrywide public meetings, protest demonstrations and rallies in December and a “decisive long march” towards Islamabad in January 2021.



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Maulana Tahir Ashrafi appointed Special Representative to PM on Religious Harmony

Maulana Tahir Ashrafi
Maulana Tahir Ashrafi has been appointed as the special assistant to the prime minister on religious harmony, said a notification from the Prime Minister's Office on Tuesday.

"The Prime Minister has been pleased to appoint Maulana Tahir Mehmood Ashrafi as Special Representative of the Prime Minister on Religious Harmony, with immediate effect," read the notification.

"The appointment of Maulana Tahir Mehmood Ashrafi shall be in honorary capacity."

Maulana Tahir Ashrafi is the chairman of the Pakistan Ulema Council (PUC) and the Muttahida Ulema Board.



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PM Imran Khan calls for one-year extension in G20 debt relief in address to UN summit

Prime Minister Imran Khan
Prime Minister Imran Khan on Tuesday reminded the international community of the crucial need for developing countries to be provided debt relief in the backdrop of the ongoing coronavirus pandemic which has hit developing economies hard.

He called upon the G20 countries in particular to extend the Debt Service Suspension Initiative (DSSI) for another year.

"The request for forbearance under this initiative should not affect the country's credit rating. This is due to force majeure, not mismanagement," the prime minister underscored, while addressing the Financing for Development High-Level Summit on the sidelines of the United Nations General Assembly.

"We must break the shackles of poverty and inequality," the prime minister stressed.

The prime minister, speaking of Pakistan's fight against the virus, said that despite the country's financial constraints "we have injected over $8bn, [nearly] 3% of our GDP to protect our poor and keep the economy going".

"Debt relief is one of the quickest ways to create fiscal space for developing countries. Therefore, in April, I called for a global initiative on debt relief," said the prime minister.

He said that subsequently, Pakistan initiated discussions on this matter at the United Nations and co-led the discussion group on debt vulnerability.

"I welcome the extensive menu of options by each of the six discussion groups. We must prioritise those actions that can have a significant impact and can be quickly implemented," the premier said.

Prime Minister Imran Khan said that multi-national development banks should participate in debt suspension initiatives.

He also called for other short measures which could cover both official and private creditors, including:

The prime minister said that investment in "sustainable infrastructure will be key to economic recovery and realisation of SDGs".

He recommended the creation of a UN infrastructure investment facility "to mobilise an additional $1.5 trillion annually for the developing countries".

The premier, citing findings by the International Monetary Fund (IMF), said that the developing countries would require "an additional $2.5tr to recover from COVID-induced contraction".

He urged the rich countries to support the creation of "at least $500 billion in special drawing rights and relocation of unutilised SDRs (special drawing rights)".

Prime Minister Imran Khan, before concluding, underscored that recovery from recession in a post-pandemic world "must be inclusive and equitable".

 



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Opposition to hold first 'historic' rally under PDM banner on Oct 11 in Quetta

Opposition to hold first 'historic' rally under PDM banner on Oct 11 in Quetta
The first public meeting of the Pakistan Democratic Movement (PDM) — an alliance of almost all major opposition parties that seeks the government's ouster — will be held on October 11 in Quetta, opposition leaders announced on Tuesday.

Addressing a press conference after PDM's first formal meeting in Islamabad, PML-N leader and former prime minister Shahid Khaqan Abbasi said the anti-government movement will be launched across the country after the "historic" rally in Quetta.

"This movement will keep growing and will be successful in ridding Pakistan of this undemocratic process," said Abbasi, accompanied by other opposition leaders. PML-N's Maryam Nawaz and PPP chairperson Bilawal Bhutto-Zardari did not attend the meeting.

 

Abbasi said the meeting strongly condemned the "shrinking" space for democracy in the country and discussed rising inflation, unemployement, "historic corruption", the state of the economy and people's issues.

The meeting also gave approval to PDM's steering committee, which Abbasi said will play its role "in taking the PDM movement forward".

He said the steering committee, which will comprise two members from each party, held its first meeting today as well and an "organisational structure" will be sent to the opposition parties' leaders following which the movement will be presented before the people.

"You will see that this movement will give rise to a true political change in Pakistan's political history," Abbasi said, adding that all opposition parties had consensus on the decisions taken today.

He said the movement's future strategy will be decided in the second meeting of the steering committee next Monday.

The steering committee's convenership will be changed on a rotational basis, with PML-N's Ahsan Iqbal to serve as its convener for the first month.

The PDM huddle comes a day after PML-N president and Leader of the Opposition in the National Assembly Shehbaz Sharif was arrested by the National Accountability Bureau (NAB) in an assets beyond means and money laundering case.

Referring to the arrest, former premier and PPP leader Raja Pervez Ashraf said the meeting resolved that "such tactics will weaken democracy and the anger and grievances of Pakistanis will rise."

Questioning the need to arrest Shehbaz after a reference against him had been filed, Pervez said the "government-NAB nexus" became apparent after government ministers predicted on television the arrests of various opposition leaders.

Ashraf said the Oct 11 rally will be followed by "a series of public meetings" in all provinces.

The meeting was expected to review the situation after Shehbaz’s detention and possible arrest of other leaders, the PTI government’s alleged plan to rig Gilgit-Baltistan and local bodies polls and give a final shape to the decisions taken at the opposition's September 20 multi-party conference (MPC).

The PDM was formed at the MPC, where opposition parties had announced launching of a three-phased anti-government movement under an “action plan” starting from next month with countrywide public meetings, protest demonstrations and rallies in December and a “decisive long march” towards Islamabad in January 2021.



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Islamabad court dismisses Gill’s bail plea in sedition case

A District and Sessions court of Islamabad dismissed the post arrest bail petition of PTI leader Shahbaz Gill on Tuesday. Additional Dist...