August 16, 2021 – Page 4 – PPI News Agency

A delegation of the Pakistan Association of Large Steel Producers (PALSP) called on Federal Minister for Industries and Production Makhdum Khusro Bakhtyar this afternoon

Islamabad, August 16, 2021 (PPI-OT):A delegation of the Pakistan Association of Large Steel Producers (PALSP) called on Federal Minister for Industries and Production Makhdum Khusro Bakhtyar this afternoon. The meeting was also joined by Mr. Razzak Dawood, Advisor of Prime Minister on Commerce and Trade and senior officers of Ministry of Industries and Production. During meeting, PALSP delegation briefed the Minister on installed capacity, total capacity, and production of steel units across the country.

The steel sector representatives also informed the chair on prices of scrape, steel bars and mechanism to lower the cost of the steel products, as well as, discussed their concerns on incentives to steel industry located in FATA/PATA areas.

The members of PALSP suggested introducing tax credit for provision of steel bars for Prime Minister’s low-cost housing scheme to benefit local market and overall affordability of house. The delegation also highlighted the possibility of increase in export demand of steel related products in region due to high quality manufacturing of steel bars. The Minister indicated that the government is working on comprehensive long-term roadmap for the local steel industry which could help meet the growing domestic demand. He said a structural reform was imperative to make Pakistan’s steel sector globally competitive. He also highlighted that mining and utilization of local iron ore would be incorporated into policy framework in line with vision of Prime Minister Imran Khan.

He elaborated that this package would reduce import bill on raw material and generate employment opportunities for local people. The Advisor assured that the government would start working on framework of steel policy in September 2021. He said that the policy would focus on next 10-15 year long term financing and incentives to the steel industry. At the conclusion, the PALSP delegation thanked and appreciated the efforts of the Minister and Advisor for assuring support for growth, development and revival of the country’s steel sector. They also called for mutual efforts to mitigate challenges faced by steel industry.

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Federal Minister Shibli Faraz said that vaccine manufacturing is a project of national importance especially in the current context

Islamabad, August 16, 2021 (PPI-OT):A meeting was held between CEO’s of top Pharmaceuticals Industries and Federal Minister for Science and Technology Senator Syed Shibli Faraz. CEO’s of Pharmaceuticals industries having renowned name in Biologicals were taken on board. Federal Minister Shibli Faraz said that vaccine manufacturing is a project of national importance especially in the current context. Ministry of Science and Technology aims at extending the full support of Government for technological advancement and quality manufacturing in Pharmaceutical industry.

Shibli Faraz expounded the fact that in the back drop of COVID-19 situation it has become more important to focus on indigenous solutions. Hence, we need to work on war footing to achieve the goal of self reliance and import substitution in Pharmaceutical industry.

Moreover, The Minister said that we need to strengthen Research and Development (R and D) for long term sustainability. For this, he intends to create R and D fund for emerging portfolios to strengthen research in Pharmaceutical industry pertinently on Biotechnology and Nanotechnology. Thus, Ministry of Science and Technology intends to become facilitator and enabler to Pharmaceutical industry in achieving goal of development and advancement in the field of Science and Technology. Prof. Dr. Muhammad Iqbal Chaudhary (Coordinator General COMSTECH) was also part of the meeting.

President urges Turkish investors to take advantage of business-friendly environment of Pakistan

Islamabad, August 16, 2021 (PPI-OT):President Dr Arif Alvi has urged the Turkish businessmen to take advantage of the business-friendly environment of Pakistan and invest in Information Technology, mining, financial, industrial and tourism sectors as there existed great potential for cooperation between the two countries. The President made these remarks during meetings with the business delegations from leading Turkish companies, who called on him, at Istanbul, today.

The delegation comprised of industrial groups as well as Chairmen/CEOs of Turkish companies from various sectors including energy, Information Technology, healthcare, and electronics. The participants included Zorlu Energy, Arçelik, Eczac?ba?? Holding, Veripark, TUBISAD (Turkish Informatics Industry Association), and Turkey-Pakistan Business Council (TPBC) of Foreign Economic Relations Board. While highlighting Pakistan’s focus on geo-economics, the President drew attention towards the investment-friendly environment in Pakistan and the measures taken by the Government to provide a conducive environment to the business community.

Various members of the delegation also briefed the President about their respective businesses and the potential projects that can be pursued to increase foreign investment in Pakistan in various sectors. Turkish businessmen offered their expertise and advisory support to help Pakistan increase its exports. The delegations also apprised the President about the issues being faced by the existing Turkish investors in Pakistan and the President assured them of the early resolution of those issues.

Chief of general staff of the Saudi armed forces calls on the Prime Minister

Islamabad, August 16, 2021 (PPI-OT):General Fayyadh bin Hameed Al-Rowailly, Chief of the General Staff of the Armed Forces of the Kingdom of Saudi Arabia called on Prime Minister Imran Khan today. Prime Minister Imran Khan welcomed the delegation and conveyed his warm regards to His Majesty King Salman Bin Abdulaziz Al Saud and His Royal Highness Crown Prince Mohammed bin Salman. He added that the people of Pakistan always accorded special reverence to the Saudi leadership.

Reaffirming the close fraternal ties between the two countries, Prime Minister Imran Khan underscored Pakistan’s commitment and support for the sovereignty and territorial integrity of the Kingdom of Saudi Arabia. During the meeting, views were exchanged on a range of important issues of common interest. The Prime Minister underlined the importance attached by Pakistan to further deepening and broadening mutual cooperation and strengthening people-to-people linkages with the Kingdom. He hoped that the recently established Saudi-Pakistan Supreme Coordination Council (SPSCC) would play a catalytic role in fostering enhanced bilateral cooperation in all fields.

The Prime Minister expressed satisfaction at the robust defence relationship between the two countries, and hoped that bilateral defence cooperation will grow further in the years ahead. General Al-Rowailly acknowledged the excellent collaboration and appreciated the professionalism of Pakistan armed forces. During the meeting, the latest situation in Yemen was also discussed.

The Prime Minister expressed Pakistan’s support for resolving the conflict in Yemen through dialogue and diplomacy, and appreciated Saudi efforts in this regard. Pakistan and Saudi Arabia have long-standing and historic fraternal relations, rooted deep in common faith, shared history and mutual support. Regular and high level exchange of visits is a reflection of excellent relations between the two countries.

Federal Minister for Finance and Revenue, Mr. Shaukat Tarin held a meeting with the Federal Minister for National Food Security and Research

Islamabad, August 16, 2021 (PPI-OT):Federal Minister for Finance and Revenue, Mr. Shaukat Tarin held a meeting with the Federal Minister for National Food Security and Research Syed Fakhar Imam and SAPM on Food Security Jamshed Cheema to review the price trend of essential commodities.

SAPM on Finance and Revenue Dr. Waqar Masood, Secretary Finance Division, Secretary M/o Industries and Production, Secretary M/o National Food Security Research, Provincial Chief Secretaries and other senior officers participated in the meeting. SAPM on Food Security Mr. Jamshed Cheema briefed the Finance Minister on building strategic reserves of essential commodities namely wheat, sugar, pulses, edible oil/ghee, tomatoes, onion, garlic and chicken to prevent hoarding and undue profiteering. The underlying rationale is to stabilize the prices of items of daily use.

The Government will build the strategic reserves by importing 10-20% of the total consumption of the staple food items and supply into the market when needed in order to bridge the supply and demand gap. This will check the price fluctuation effectively. In his remarks, the Finance Minister directed the concerned Ministries to accelerate the import of wheat and sugar and ensure that sufficient stocks are available for smooth supply during the current financial year. He also urged the concerned Ministries and TCP to exercise due diligence and take appropriate measures for risk hedging while floating tenders in international market.

The Finance Minister urged the representatives of the Provincial governments to take corrective measures for reducing price differential between farm and retail prices. He emphasised the need to review the entire food value chain and ensure that the farmers get a commensurate share of market value of their produce.

The SAPM on Food Security stated that farmers must follow the international best practices and look into alternate options for perishable commodities like Tomato puree, Onion powder, Garlic powder etc to meet peak demand due to seasonal variations. This will offer cost-effective products for the consumers as well.

The ECC considered and approved a summary presented by the Power Division for extension of incremental consumption package for K-Electric

Islamabad, August 16, 2021 (PPI-OT):Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, presided over a meeting of the Economic Coordination Committee (ECC) of the Cabinet today. Ministry of Commerce presented a summary regarding continuation of concessional rates of electricity and RLNG to export-oriented sectors. Secretary Commerce briefed the Committee that extension of concessional rates of electricity and RLNG is important for sustained increase in exports by providing energy at regionally competitive rates.

After due deliberations, the Committee approved the continuation of electricity and gas subsidy for export-oriented sectors to support the momentum of growth in exports during the FY 2021-22. In his remarks, the Finance Minister emphasized the need to incentivize export-oriented sectors in order to take our exports to the next level.

At the same time, the Finance Minister stressed the need to rationalize usage of energy inputs. For this purpose, the ECC constituted a sub-committee comprising Minister for Energy, Minister for Industries and Production, Advisor on Commerce, Deputy Chairman Planning Commission, Additional Secretary (CF) Finance Division and other relevant officials for presenting a plan to resolve the issue of continued use of gas by some units for power generation and non-cooperation in audit of such use. The sub-committee was directed to present its recommendations before ECC within 30 days for further deliberation.

The ECC considered and approved a summary presented by the Power Division for extension of incremental consumption package for K-Electric industrial consumers of X-WAPDA DISCOs and K-Electric and application of incremental consumption package for BI(Non ToU) consumers of X-WAPDA DISCOs and K-Electric at the rate of Rs.12.96/kwh from 1st July 2021 to 31st December 2021.

The ECC also approved another summary by the Petroleum Division regarding NOC for issuance of the Parent Company Guarantees/Corporate Guarantees by each of the consortium companies, on a joint and several basis, in favour of ADNOC and SCFEA to pursue international exploration and production opportunity in Abu-Dhabi, United Arab Emirates. Federal Minister for Privatization Muhammad Mian Soomro, Federal Minister for National Food Security and Research Syed Fakhar Imam.

Federal Minister for Industries and Production Makhdoom Khusro Bakhtiar, Federal Minister for Energy Muhammad Hammad Azhar, Federal Minister for Economic Affairs Division Mr. Omar Ayub Khan, Adviser to the PM on Commerce Mr. Abdul Razak Dawood, Adviser to the PM on Institutional Reforms and Austerity Dr. Ishrat Hussain, SAPM on Finance and Revenue Dr. Waqar Masood, SAPM on Power and Petroleum Mr. Tabish Gauhar, Federal Secretary Finance, Secretary M/o Industries and Production, Secretary M/o NFS and R, Secretary Power, Secretary Petroleum, Chairman FBR and other senior officers participated in the meeting, Governor SBP Dr. Reza Baqir also participated through video link.

Pakistan remains committed to an inclusive political settlement as the way forward representing all afghan ethnic groups: NSC

Islamabad, August 16, 2021 (PPI-OT):A meeting of the National Security Committee was convened on Monday, the 16th of August, 2021 to deliberate on the emerging situation in Afghanistan. The NSC meeting was chaired by Prime Minister Imran Khan and attended by senior cabinet members and services chiefs. Participants were briefed on latest developments in Afghanistan and their possible impact on Pakistan and the region. The overall security situation in the region was also discussed. The NSC noted that Pakistan was a victim of the decade’s long conflict in Afghanistan and therefore desired peace and stability in the neighbourhood.

It was emphasized that the world must recognize the sacrifices made by Pakistan over four decades. Participants reiterated that Pakistan remains committed to an inclusive political settlement as the way forward representing all Afghan ethnic groups. It was reaffirmed that Pakistan would continue to work with the international community and all Afghan stakeholders to facilitate an inclusive political settlement in the country.

It was stressed that the principle of non-interference in Afghanistan must be adhered to. The NSC noted positively that major violence had been averted thus far and called on all parties in Afghanistan to respect the rule of law, protect fundamental human rights of all Afghans, and ensure that Afghan soil is not used by any terrorist organization/group against any country. Prime Minister Imran Khan directed that all possible facilities be made available to repatriate Pakistanis, diplomats, journalists and staff of international organizations seeking to leave Afghanistan.

The Prime Minister lauded the ongoing efforts of the Pakistan embassy in Kabul and the state machinery in this regard. The NSC reiterated Pakistan’s stance that the conflict in Afghanistan never had a military solution. The ideal time to end the conflict through negotiations might have been when the US/NATO troops were at maximum military strength in Afghanistan. Continuation of foreign military presence for a longer duration now would not have yielded a different outcome.

Therefore, endorsement by the Biden administration of the previous US administration’s decision of troop’s withdrawal is indeed a logical conclusion to this conflict. It is now time for the international community to work together to ensure an inclusive political settlement for long term peace, security and development of Afghanistan/ the region.