Day: October 11, 2021

Karachi, October 11, 2021 (PPI-OT):To promote investment in renewable energy solutions by companies, State Bank of Pakistan (SBP) has eased the conditions for renewable energy solution providers under its Refinance Scheme for Renewable Energy. Now, all Renewable Energy Investment Entities (RE-IEs) interested in installing renewable energy projects/solutions are allowed to avail refinance under category III of the scheme. An RE-IE is a business entity (including vendors and suppliers) whose business is to establish renewable energy projects for onward leasing/renting out/selling on deferred payment basis or selling of electricity generated from these projects to end users.

It may be recalled that with an aim to help address the challenges of energy shortages and climate change, SBP revised its SBP Financing Scheme for Renewable Energy in July 2019. SBP also launched a Shariah complaint version of the scheme in August 2019. The scheme now comprises of three categories. Under Category I, financing is allowed for setting up of renewable energy power projects with capacity ranging from 1 MW to 50 MW for own use or selling of electricity to the national grid or a combination of both.

Under Category II, financing is allowed to domestic, agriculture, commercial and industrial borrowers for installation of renewable energy-based projects/solutions of up-to 1 MW to generate electricity for own use or selling to the grid/distribution company under net metering. Under Category III, financing is allowed to vendors/suppliers/energy sale companies for installation of wind and solar systems/solutions of up to 5 MW. Since the inception of the scheme, 717 projects having potential of adding 1,082 MW of energy supply through renewable sources have been financed. As of June 30, 2021, total outstanding financing under the Scheme is Rs53 billion. While there is substantial take up under Category I and II, solution suppliers under Category III faced problems.

Accordingly, in light of the feedback received from stakeholders including renewable energy solution suppliers, Alternate Energy Development Board, NEPRA and banks, the requirement of AEDB certification has been relaxed for RE-IEs who do not undertake installations on their own but hire services of installers/vendors for installation of RE projects/solutions. However, vendors/ suppliers/engineering procurement and construction (EPC) contractors of these RE-IE will still be required to be certified under AEDB certification regulations. It is expected that this revision in category III will further facilitate in production of clean energy.

Details of revisions made in category III of the Renewable Energy scheme are provided in SBP circular placed at web link: https://www.sbp.org.pk/smefd/circulars/2021/C12.htm

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

Islamabad, October 11, 2021 (PPI-OT):In continuation of its efforts to promote financial inclusion through digitalization, increase investor base and micro-savings, the Securities and Exchange Commission of Pakistan has specified a swift and simplified on boarding framework for customers of the Asset Management Companies (AMCs) and Pension Fund Managers (PFM).

Under the new framework, the accounts can be opened online, while the Asset Management Companies (AMCs) and Pension Fund Managers (PFMs) can conduct customer verification and authentication through virtual platforms such as WhatsApp, Skype, etc. The new framework classifies three categories of investment accounts on the basis of investment and transaction limits, and the respective documentation/verifications, which are Sehl Sarmayakari Account, Sahulat Sarmayakari Account and Sarmayakari Account. Under this new framework, digital joint account opening is also allowed.

Through Sehl Sarmayakari Account, users can be on boarded through digital wallets without providing any additional information or document to the AMCs. The Sahulat Sarmayakari Account requires additional documentation but does not necessitate customer risk profiling for investments (in Money Market and Low Risk Income Schemes). The Sarmayakari Account is the most comprehensive and does not have any investment or transaction limit. Therefore, it requires additional legal documentation / information. Furthermore, customers of all these accounts have the option of upgrading their accounts by fulfilling respective account requirements in due course.

For more information, contact:
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +92-51-9214005 or +92-51-9214009 (Ext. 378)
Fax: +92-51-9206459
Cell: +92-302-8552254
E-mail: shakil.chaudhary@secp.gov.pk
Website: www.secp.gov.pk

Islamabad, October 11, 2021 (PPI-OT):Honourable Justice Javed Iqbal, Chairman, NAB said that NAB to give high priority to mega corruption white collar crime cases and would not spare all those who have after devoured billions of rupees of innocent Pakistanis through corruption and corrupt practices. The NAB has no affiliation with any individual, party or organization but with the country and is performing its duties. He said that eradication of corruption has become the voice of the whole nation as it not only halts the progress of the country but also usurps the rights of the deserving people. Pakistan is facing the challenge of corruption which is the root cause of all problems being endured by the country.

He said that NAB has chalked out a comprehensive Anti-corruption strategy comprising awareness, prevention and enforcement under “Accountability for All” policy. Besides overhauling and perfecting working procedures in order to make NAB a more credible and reputed organization to eradicate corruption in all its forms and manifestations. The Chairman NAB said that NAB has rejuvenated by implementing his Accountability for All Policy across the board under the slogan of “NAB’s Faith-Corruption free Pakistan.” The results have yielded excellent dividends.

Well Reputed national and International Organizations like Transparency International Pakistan, World Economic Forum, PILDAT, Mishal Pakistan have not only lauded NAB’s efforts for eradication of corruption but in the Gillani and Gallup Survey about 59 percent people have shown their confidence in NAB. He said that NAB during the present management of NAB has brought big fish to justice for the first time and recovered Rs. 539 billion from corrupt elements directly and indirectly from Oct 2017 to September 2021 that no one previously had ever been able to accomplish since the establishment of the anti-corruption watchdog in 1999, besides overall recovery of Rs. 819 bullion, NAB has filed 1277 corruption references in the various learned Accountability Courts which are under adjudication and their approximately worth is 1335 billion.

He said that not just in Pakistan alone, NAB has now emerged as a role model for countries under South Asian Association of Regional Cooperation (SAARC) which includes India, Sri Lanka, Bangladesh, Nepal and Bhutan. NAB heads the SAARC anti-corruption forum. It is a focal organization for Pakistan under the United Convention against Corruption (UNCAC). NAB has also signed a unique Memorandum of Understanding (MOU) with China to extend cooperation in tackling corruption and to oversee CEPC projects being under process in Pakistan. Among other achievements of NAB, it has established a state of the Art Forensic Science Laboratory in NAB Rawalpindi besides establishing its own Pakistan Anti-Corruption Training Academy at NAB Headquarters.

The academy is meant to train and equip its investigation officers with modern techniques to investigate white collar crimes on the basis of lessons learnt in order to eradicate corruption. He said that NAB has also signed a Memorandum of understanding (MOU) with Higher Education Commission to spread awareness among students at Universities/Colleges level as part of Chairman’s vision to make our future leadership aware of the effects of corruption. It is a remarkable effort. In this regard, over 50 thousand Character Building Societies (CBS) have been established in Universities/Colleges throughout the country.

In order to streamline the working of NAB, NAB has also ensured that a highest degree of transparency and merit is maintained at all levels of enforcement. From complaint verification to the final stage of filing a reference full level of transparency is maintained, guided, supervised and closely watched and an innovative concept of combined investigation team (CIT) has been introduced in order to benefit from collective wisdom and to improve the quality of investigation on the basis of solid evidence as per law.

He said that NAB strongly believes in self accountability besides accountability of others. He said that NAB is committed to the logical conclusion of mega corruption cases of corruption and corrupt practices. He said that during the present management of NAB, cases of Income Tax, Sales Tax and Under Invoicing were referred to FBR as per law. He said that NAB is a people friendly organization which strongly believes in self-respect of people visiting NAB.

For more information, contact:
National Accountability Bureau (NAB)
Attaturk Avenue G-5/2, Islamabad, Pakistan
Tel: +92-51-111-NAB-NAB (111-622-622)
Fax: +92-51-9214503
Email: chairman@nab.gov.pk, infonab@nab.gov.pk
Website: www.nab.gov.pk

Islamabad, October 11, 2021 (PPI-OT):The license signing ceremony for Next Generation Mobile Services (NGMS) in Azad Jammu and Kashmir and Gilgit-Baltistan was held here today. Three Cellular Mobile Operators (CMOs); CMPak (Zong), Telenor Pakistan and PTML (Ufone) have been issued new licenses for the spectrum secured in the recent auction process.

The event was attended by Federal Minister for Kashmir Affairs and Gilgit Baltistan, Ali Amin Khan Gandapur; Chief Minister of Gilgit Baltistan, Muhammad Khalid Khurshid; Federal Secretary for IT and Telecommunication Dr Suhail Rajput, Chairman PTA, Maj Gen Amir Azeem Bajwa Retd., Members of the Authority, Special Assistant to Prime Minister AJ and K for Information Technology, Secretary Kashmir and GB Affairs, Executive Director, Frequency Allocation Board (FAB) and senior management of mobile companies.

On the occasion, Federal Minister for Kashmir Affairs and GB appreciated the efforts of PTA for the successful completion of the spectrum auction process. He congratulated the winning mobile operators and said that through NGMS, digital divide will be reduced and tourism will flourish further in the regions.

Chief Minister of Gilgit Baltistan congratulated the mobile operators on award of NGMS licenses and hoped that this will open up a new era of modern telecom services for the people of AJ and K and GB. At the event, Federal Secretary for IT and T, Dr. Suhail Rajput said that the Ministry of IT and T is committed to enhance connectivity and improve digital infrastructure in the country.

Chairman PTA said that PTA is working to ensure that Pakistanis have access to high quality services and benefit from ubiquitous coverage. Continuous efforts are being made to spread state of the art telecommunication services to far flung areas enabling access to a multitude of opportunities for businesses, education and health. The award of licenses for NGMS in the two regions will contribute towards strengthening uninterrupted provision of better telecom services to the people of AJ and K and GB in line with the GOP vision of a Digital Pakistan.

For more information, contact:
Public Relations,
Pakistan Telecommunication Authority (PTA)
PTA Headquarters, Sector F- 5/1, Islamabad – 44000, Pakistan
Tel: +92-51-2878152
Fax: +92-51- 9219921
Email: pr@pta.gov.pk
Website: https://www.pta.gov.pk

Islamabad, October 11, 2021 (PPI-OT):A meeting of the Senate Standing Committee on Climate Change was held on Monday. Senator Seemi Ezdi chaired the meeting that was attended by Senators Sherry Rehman, Khalida Ateeb, Abida Muhammad Azeem, Taj Haider and Umer Farooq. Minister of State for Climate Change, Ms Zartaj Gull was present at the meeting as well. Senior officers from the Ministry of Climate Change and the Ministry of Industries and Production also attended the meeting.

The meeting commenced with a briefing by the Ministry on the up-coming two-week COP-26 Conference due to be held from 31 October, 2021 to 12 November, 2021 which aims to secure global net zero emissions by mid-century and keep 1.5 degrees within reach, adapt to protect communities and natural habitats, mobilize finance and work together to deliver.

The Committee was informed that Pakistan adheres to the principles of Common but Differentiated Responsibilities (CBDR) as any binding commitment will restrict its development needs. Furthermore it was shared that the Prime Minister will address the Leaders’ Summit on 1st and 2nd November, 2021 and a pavilion to showcase Pakistan’s achievements is also being planned.

The Committee was informed that the Electronic Vehicle (EV) Policy was dealt by the Ministry of Climate Change at the Policy formulation level whereas the Ministry of Industries and Production was responsible for the execution side. The members were informed that Ministry of Industries and Production is working on creating a favourable tariff regime for EV to expand user base. The Committee was informed that by switching to EV Pakistan could save up to US $ 411 million worth of oil imports; saving US 2 billion by 2030. Carbon emissions would be reduced up-to 1.54 metric tons.

The Committee was also informed that at present there are two EV motorcycle plants operating and three more are in the process of obtaining licenses. Moreover, it was shared that private companies like Sapphire Group were considering introducing EV for their own cargo fleet. The members of the Committee highlighted the need to improve charging infrastructure by ensuring Pakistan State Oil to have charged batteries available to users of EV and utilizing its vast network of petrol stations across a wide geographic spread. Members also suggested that solar energy should be used to charge batteries to minimize cost.

The Committee was informed that Pakistan’s green-house gas (GHG) emissions for 2018 was 8.7 percent less than the projected and it was due to timely and effective policies including 10 billion tree tsunami project, ecosystem restoration initiative, recharge Pakistan, National Electronic Policy, Clean Green Pakistan Movement and Climate Smart Agriculture to name a few. Moreover, the Committee was informed that agriculture sector had the largest share in Pakistan’s GHG emissions.

Members of the Committee highlighted the need to incentivize private sector to reduce carbon emissions. Moreover, members also suggested that technical assistance should be sought from international experts to introduce carbon trading in Pakistan. Members also highlighted the need to shift government offices, Secretariats and Parliament Lodges on solar energy to reduce pressure on the national grid. Furthermore, the issue of deforestation for firewood in Gilgit was also highlighted and it was suggested that gas from Turkmenistan through Tajikistan and Afghanistan may be procured as the distance is only 50 km and it was suggested that the Ministries of Foreign Affairs and Power may provide assistance to expedite the matter.

For more information, contact:
Senate of Pakistan
H.No.7, Cat-II, G-8/2, Islamabad, Pakistan
Tel: +92-51-9204564534
Fax: +92-51-9205703
E-mail: senate@comsats.net.pk
Website: www.senate.gov.pk

Islamabad, October 11, 2021 (PPI-OT):Meeting of the Senate Standing Committee on Housing and Works was held under the chairmanship of Senator Haji Hidayatullah Khan here at the Parliament House today on Monday. At the outset of the meeting, the committee offered Fateha for the high elevation of late Dr. Abdul Qadeer Khan and paid rich tribute to the services rendered by the iconic hero and Mohsin-e-Pakistan. The meeting commenced with a detailed briefing by Federal Government Employees Housing Authority (FGEHA) regarding Bhara Kahu Scheme (Phase-II).

While briefing, the committee was apprised on the current status of the no. of employees who deposited membership fee of Green Enclave–II of Rs. 25000/- The committee was informed that there is a total of 6,924 employees on this membership which makes a total of Rs/-173,100,000. The number of employees who deposited down payment is 3317 and the number of applicants who will be accommodated in Green Enclave-II is 722. The committee was apprised that 29427 employees of the FGEHA have sent letters for depositing of Down Payment, so far. The total amount of down payment received so far is Rs/- 6,847,350,000 out of which Rs/-1,221,350,000 is refunded and Rs/- 5,626,000,000 is balanced. It was also informed that the total Land acquired in Green Enclave –II so far is 6025 Kanal.

However, the NAB has cleared 1986 Kanal of land for development in 1st phase, out of 6025 Kanal of land (out of which 1986 Kanal is located in Mauza Kathar and 4039 kanals in Mouza Mengal). The committee informed that the delay in the development work is caused due to Nab Inquiry. The Nab has cleared 1986 Kanal of land out of 6000 Kanal, for development in 1st phase. The committee was also informed that the development work starts after the approval of the construction agreement from the executive board. The committee was informed that the layout plan of 1986 Kanal clear in Mouza Kathar is to be prepared and approved. The allotment will be issued after approval of the layout plan of Mouza kathar, however, the possession is to be handed over after the construction development of the scheme.

The committee was briefed in detail by the officials of the Ministry of Housing and works regarding the mechanism of allotment of plots/flats by the FGEHA to the employees of constitutional bodies. Senator Agha Ali raised a questions on the definition of the constitutional bodies. The Ministry officials explained that the constitutional Bodies are the Senate, the National Assembly, the Supreme Court, the Federal Sharia employees etc. The allotments to employees of constitutional bodies were made by the FGEHA based on recommendations received from respective institutions in sector G14/1,2,3, whereas employees registered in membership Drive-I and II are allotted as per criteria of membership based on recommendations of respective institutions.

The Membership Drive-I MD-I is on a first come first serve basis and Membership Drive –II (MD-II) is based on age-wise seniority. The quota for such employees in different Housing Schemes launched by FGEHA was allotted as per decisions of the Executive Committee (EC). In the 73rd executive committee on 11-11-2003 of Phase-IV G-14/1, 2, 3 is 2.5 % which was later increased to 3.5 %. Senator Agha Ali inquired as to who has the authority to increase the quota, to which the Ministry officials informed that first it was under the authority of the executive committee but now the Executive Board is empowered for the same.

The further Bifurcation of the 3.5 % quota is, serving 2.5 %, Retired 0.5 % and widow 0.5 %. While briefing on the allotment of apartments, all Federal Government employees having their registration either in membership Drive-I and membership drive-II were invited through press advertisement dated 15-12-2019 to submit a consent form for allotment of the apartments in FGEHA’s apartment projects in Islamabad, Rawalpindi and Lahore on the basis of 50-50% equal distribution. The committee was also apprised that a total of 414 No of Plots have been allotted to the employees of constitutional bodies in all the schemes executed by FGEHA i.e. G-14 1, 2 3, Bara Kahu (GE-1) and F -14 /F-15.

The question was raised to provide a reason because of which constitutional quota has not been implemented, the ministry informed that there is no such scheme. The allotments under constitutional bodies’ quotas were issued as per criteria. The committee was briefed on the criteria and method of balloting of the flats adopted in allotment to the applicants and the current status of all the ongoing schemes and reason of delay in timely completion of all the schemes was also discussed. The committee was briefed that the computerized balloting was conducted to allocate only apartment numbers transparently by random cross-matching of apartment numbers with those applicants, who were issued provisional offer letters (POLs) as per eligibility criteria published in the advertisement and according to the applicable quota policy and they also deposited down payments.

It was told that two balloting of Kashmir Avenue Apartment (G-13) Islamabad were conducted, for type A the total number of apartments was 714. No of apartments in 1st Balloting held on 30-07-2020 were 416 and the no of apartments in 2nd balloting held on 03-03-2021 is 283. Similarly, for type B the total no of apartments were 753 out of which 284 were allotted in the 1st balloting and 392 were allotted in the 2nd balloting. All registered members who have been issues Provisional offer letters (POLs) against three other apartment projects of FGEHA, their balloting will be held soon.

The meeting was attended by Senator Saifullah Abro, Senator Kamil Ali Agha, Senator Khalida Ateeb, Senator Bahramand Khan Tangi, Senator Afnan Ullah Khan, Senator Fida Muhammad. The parliamentary secretary Ministry of Housing and Works Ms Tashfeen Safdar and officials from the federal Government Employees Housing Authority also attended the meeting.

For more information, contact:
Senate of Pakistan
H.No.7, Cat-II, G-8/2, Islamabad, Pakistan
Tel: +92-51-9204564534
Fax: +92-51-9205703
E-mail: senate@comsats.net.pk
Website: www.senate.gov.pk

Islamabad, October 11, 2021 (PPI-OT):Chairman Senate Muhammad Sadiq Sanjrani accompanied by a parliamentary delegation reached the residence of former Senator Muhammad Javed Abbasi to express his condolences on the sad demise of his brother Muhammad Saeed Abbasi. Chairman Senate Muhammad Sadiq Sanjrani offered Fateha for elevation of the departed soul. Chairman Senate Muhammad Sadiq Sanjrani prayed to Allah Almighty to grant forgiveness to the deceased and place him in His mercy.

We share the grief of Muhammad Javed Abbasi in this hour of sorrow said Chairman Senate Muhammad Sadiq Sanjrani. Chairman Senate spent some time with Muhammad Javed Abbasi. Accompanying the Chairman Senate, the parliamentary delegation also included Senators, Sherry Rehman, Dilawar Khan, Fida Muhammad, Manzoor Kakar, Abdul Qadir, Haji Hidayatullah, Ahmad Khan, Naseebullah Bazai, Former Senator Nisar Muhammad and renowned journalist and columnist Saleem Safi.

For more information, contact:
Senate of Pakistan
H.No.7, Cat-II, G-8/2, Islamabad, Pakistan
Tel: +92-51-9204564534
Fax: +92-51-9205703
E-mail: senate@comsats.net.pk
Website: www.senate.gov.pk