Continuations Tuesday, August 25, 2020 Answering another question, Shah Mahmood Qureshi said a delegation of Afghan Taliban is in Pakistan for consultations. He said Pakistan's facilitating role on Afghan issue led to a peace agreement between the United States and the Afghan Taliban. He said the next logical step is intra- Afghan dialogue, which should be started at the earliest. He further said China has also been supporting the Afghan peace process. He said a l arge number of people in Afghanistan desire peace and stability in the country. However, he said, there are some spoilers, who want to disturb peace in Afghanistan. COVID- 19 lockdown situation in the country. The analysis of disbursement reveals that during FY 201920, five major commercial banks collectively disbursed agriculture loans of Rs 708.3 billion or 100.5% of their annual target of Rs 705 billion, specialized banks disbursed Rs 71.1 billion or 62.9% of their annual target of Rs 113 billion and fourteen domestic private banks as a group achieved 88.7% by disbursing Rs 225.0 billion against their target of Rs 253.6 billion. Further, the five Islamic Banks as a group achieved 76.6% of their annual target of Rs 55.0 billion by disbursing Rs 42.1 billion which is 6.1 % higher than the disbursement made during the corresponding period last year. Similarly, the Islamic windows of commercial banks disbursed Rs 43.5 billion or 79.2% against the target of Rs 55.0 billion in FY 2019- 20 which is 33 % higher from the disbursement of Rs 32.7 billion made during last year. The agriculture credit of microfinance sector remained relatively sluggish due to COVID- 19 lockdown in the 2nd half of FY 2019- 20. The Microfinance Banks ( MFBs) as a group have achieved 75.7% by disbursing agriculture loans of Rs 139.3 billion to small farmers which is 9.5% lower than the disbursement of Rs 154 billion during same period last year. Likewise, the Microfinance Institutions/ Rural Support Programs collectively achieved 73.4% of their targets by disbursing Rs 28.9 billion which is 15 % lower than the disbursement of Rs 34 billion made during the last year to small and marginalized farmers. It is important to mention that SBP announced a comprehensive relief package in collaboration with stakeholders for relief of agriculture sector to deal with the adverse implications of the ongoing pandemic on the farming community and agriculture business in the downstream of value chains. These measures which included deferment of principal and restructuring/ rescheduling of agriculture loans were initially allowed up till June 30, 2020 have been extended up to 30 September 2020. SBP will continue to monitor the situation and it may introduce more measures to help the sector manage its finances during this temporary phase of disruption. recovered. The Adl IG Karachi told the meeting that in 2020, 90 robbers were released, including152 in the first week of their arrest, 114 within two weeks, 140 in 30 days, 163 in three months, 183 in six month and 156 over Sindh months of their arrest. Case study: sharing a case study of lengthy criminal procedure, Adl IG Karachi said that an accused was arrested on April 16, 2017 in a robbery with murder case in the jurisdiction of Maripur police. On September 20, 2017 charge was framed. 95 hearings of the case were held and nine times the complainant was called to record the statement and on July 14, 2020 the accused was acquitted. The meeting decided to strengthen the prosecution and in case of the bail of robbers appeals would be filed. Continued from page 1 No # 1 support in fighting terrorism, teh Army Chief said that peace has largely returned to the region; however it will take collective efforts of the local population, civil administration and LEAs to retain the hard earned normalcy. "We have to remain vigilant and steadfast to thwart hostile attempts to create chaos and reverse the gains of Operation Radd Ul Fasaad," the COAS further said. The COAS was also briefed on complementing border security/ management measures, particularly progress of fencing along the complete Pak Afghan border. Later, the COAS also visited Miranshah. Earlier on arrival, the Army Chief was received by Commander Peshawar Corps, Lieutenant General Nauman Mahmood. Recent consolidation operations along Pak- Afghan Border have ensured effective area domination of some inaccessible pockets of land which were being sporadically used by terrorists as hideouts to target local populace and security apparatus in the rear areas. More than 90 IEDs were recovered during the course of operations. Fencing of this arduous stretch of border terrain will commence shortly, said the ISPR. The security forces have active control of the last remaining stretch of international border now in North Waziristan. This will further enhance security of public in both North and South Waziristan and strengthen checks over illegal crossing of Pak Afghan Border. - TLTP Continued from page 1 No # 5 Inter- Parliamentary Union Gabriela Cuevas Barron who along with her delegation called on him here at Foreign Office on Monday. Qureshi said that Pakistan wants a peaceful resolution of Kashmir issue in light of UN Security Council Resolutions. He said unarmed civilians of IOK have been facing Indian atrocities in the form of curfew for the past one year. The foreign minister urged the IPU and international community to come forward to give innocent Kashmiris their legitimate right, right to self- determination and save them from Indian tyranny. The foreign minister also apprised the IPU president of the steps being taken by Pakistan, including the smart lockdown, to address the global pandemic challenge. He commended the services of Gabriela Cuevas Barron in the supremacy of Parliament around the world from the IPU platform. - TLTP Continued from page 8 No # 14 Al- Azizia and Flagship cases. He was later dismissed from his post following a video scandal. Addressing a press conference alongside top PML- N leadership on July 6, 2019, Maryam had shown reporters a video in which judge Arshad Malik was heard saying that there was "no proof of corruption against the deposed premier" in the Al- Azizia reference and that he was coerced into convicting him. - TLTP Continued from page 8 No # 15 contest elections. PML- N leader Rana Sanaullah reacted to Chaudhry's statement, and said that Nawaz went abroad due to illness, adding that there are relevant statements on the matter by the medical board and government officials. - TLTP Continued from page 1 No # 2 Continued from page 1 No # 6 Continued from page 8 transparency on the role of authority tasked to make arrests under the law. Special Assistant to PM on Accountability Shahzad Akbar said that they have made an amendment to the antimoney laundering bill, passed in 2007, in order to get Pakistan out from the grey list of the Financial Action Task Force ( FATF). "We took opposition parties into confidence over every amendment and accepted their proposals for bringing improvement in the bill," he said. Speaking on behalf of the opposition parties, former Prime Minister and PPP lawmaker Raja Pervaiz Ashraf said that they had proposed certain amendments in the bill especially regarding its section 10. "We are against the power of arrest in the bill," he said, adding that such powers could give anyone the authority to make arrests without prior approval of arrest warrants. He said that under the law, NAB is tasked to deal with anti- money laundering cases. "Even the apex court has termed the NAB's performance as unsatisfactory," he said while terming it a black law and opposing its passage from the National Assembly. All the amendments moved by the opposition were rejected by the majority of the House. The bills moved by Prime Minister's Advisor on Parliamentary Affairs Dr Babar Awan included; "The Limited Liability Partnership ( Amendment) Bill 2020", "The Companies ( Amendment) Bill 2020", "The AntiMoney Laundering ( Second Amendment) Bill, 2020", and "The Islamabad Capital Territory Waqf Properties Bill, 2020." "The Limited Liability Partnership ( Amendment) Bill, 2020" and "The Companies ( Amendment) Bill, 2020" will ensure compliance with FATF's recommendations on antimoney laundering and countering the financing of terrorism by strengthening existing laws. "The Islamabad Capital Territory Waqf Properties Bill, 2020," is aimed at proper management, supervision and administration of Waqf properties in the capital territory. The National Assembly was informed that the government is planning to reopen educational institutions from the 15th of the next month. Responding to a calling attention notice in the House, Minister for Federal Education and Professional Training Shafqat Mahmood said that a consultative meeting to take final decision regarding reopening of the school will be held on 7th of the next month. Mahmood said that they had given an incentive of lowering school fee by 20 percent during the pandemic. "We also issued directives to the provinces to implement upon the decision," he said, adding that if parents would not pay school fee then it would become difficult for the educational institutes to pay salaries to teachers and other concerned staffers. He said that coronavirus has badly hit the school sector and they are mulling over to announce a special package for them. "The schools could also take advantage of the relief package announced by the State Bank of Pakistan ( SBP)," he said. The House was later prorogued in honour of Muharramul Haram. - TLTP No # 16 The President expressed these views while talking to the President of the Inter- Parliamentary Union Gabriela Cuevas Barron who called on him here on Monday. President Alvi said that the people of IOK are in extreme misery as India has unleashed a reign of terror against the innocent people, which is a clear violation of UN resolutions. He expressed the confidence that IPU would play its role to protect the rights of the people of IOK. Speaking on the occasion, Gabriela Cuevas Barron, who is also senator for Mexico, said that her country wants to work with Pakistan to promote closer ties in areas of mutual interest. Both sides emphasized the need to further strengthen bilateral relations in all fields to the mutual benefit of the people of Pakistan and Mexico. The President expressed the hope that the visit of the President of IPU to Pakistan would help strengthen parliamentary relations between the Parliament of Pakistan and IPU member parliaments. The meeting was also attended by the Chairman Senate, Muhammad Sadiq Sanjrani, and Senator Mirza Muhammad Afridi. - TLTP move of the National Accountability Bureau ( NAB) to initiate inquiry against him and his family and added those who looted the country in the past three decades, should also be held accountable. TLTP Continued from page 8 No # 17 Continued from page 1 No # 11 nine other suspects in the case had filed bail pleas in the high court. During the hearing, the SHC judge said that the accused were involved in the illegal land allotment and misused their powers as government officials.- TLTP equities closed green on Monday with Benchmark KSE100 Index closed at 39,802 level ( up 0.46%). Market reached an intraday high 202points on the back of strong Current account numbers clocking in with a surplus of US$ 424mn for Jul 2020 compared to deficit of US$ 613mn in Jul 2019 and US$ 100mn in Jun 2020. Buoyed by the strong showing Investors sentiment drove Cements, Steels, Pharmaceuticals and OMC sectors were major gainers; on the other hand E& Ps sector closed 1.3% lower as CCOP approved privatization of PPL, OGDC and PAKRI. Traded volume and value for the day stood at 371mn shares and Rs. 14.9bn respectively. TRG closed 7.5% higher and was today` s volume leader with ~ 29.8mn shares. The advance to decline ratio in the broader market remained in favor of bulls. Out of 388 scrips, 229 scrips advanced, 135 declined while the value of 24 scrips remained intact. The ready market volume descended by 7.18 per cent to 371.724 million shares as compared to 400.478 million shares traded on last trading day. TRG Pakistan Limited topped the list of actives, closed higher by Rs 3.64 at Rs 54.46 on 29.89 million shares followed by Dewan Cement Limited increased by Rs 1.00 at Rs 11.02 on 23.46 million shares and Pace Pakistan Limited improved by Rs 0.33 at Rs 3.53 on 23.46 million shares. Other actives were WorldCall Telecom Limited descended by Rs 0.03 at Rs 1.18 on 20.18 million shares and Pakistan Refinery Limited enhanced by Rs 1.17 at Rs 16.80 on 19.42 million shares. According to Research desk at Topline Securities local bourse started the day with choppy session, as benchmark KSE- 100 index oscillated between red and green zone. During the early hours market remained range bound owing to rollover week, where in phenomenal activities of offloading the stocks purchased earlier at attractive valuation kicks in. During the later hours some buying was witnessed in cement, pharma and technology sectors which helped index to park itself in green zone. Moreover, as per the SBP current account turned into surplus in Jul' 20 also supported the index. In addition to that, ongoing corporate result season also drove investors' sentiments as heavy weight cement sector's corporate results are yet to be announced. Going forward, future rollover may impact investors' trading strategy. The benchmark KSE- 100 index surged 181 points to settle the day at 39,802.60 levels. During the session, the index found its support and resistance at 39,473.11 ppts and 39,824.56 ppts, respectively. Sector- wise Technology & Communication sector remained in limelight throughout the trading session which fetched total volume of 67.13mn shares. Cement sector was the second most traded sector which recorded total volume of 62.05mn shares followed by Miscellaneous sector which fetched volume of 29.75 mn shares. The overall market capitalization enhanced by Rs 17.696 billion to Rs 7.3789 trillion against Rs 7.3612 trillion observed on last trading day. Island Textile Mills Limited and Sapphire Textile Mills Limited remained the top gainer by Rs 73.95 and Rs 29.99 to close at Rs 1,065.94 and Rs 899.99 respectively, while Nestle Pakistan Limited and Sapphire Fiber Limited were among the major losers which lost Rs 50.01 and Rs 34.90 to close at Rs 6,100.00 and Rs 770.10 respectively. Continued from page 8 No # 18 adopting a successful strategy, they said. The new discovery will help the country in saving foreign reserves to a large extent and would also improve the oil and gas reserves held by the OGDCL. In July 2020, the OGDCL claimed that it had discovered five new reserves in Pakistan. According to details, the five new oil and gas deposits were discovered in Kohat, Sukkur, Shakardara and adjoining areas. A total of 1,040 barrels of crude oil, 47 million cubic feet of gas per day were extracted from the new reserves and the newly discovered reserves have been added to the national supply network. - TLTP Continued from page 1 No # 7 has reached 276,829 after the recovery of 993 patients over the last twenty- four hours. There are now 10,188 active COVID- 19 cases in the country, said NCOC. A total of 496 new coronavirus cases surfaced in the country after tests of 23,655 people over the last twentyfour hours, bringing the number of confirmed infections in the country to 293,261. Nine new deaths have also been reported during this period, bringing the number of fatalities to 6,244. A total of 1,163 patients are under treatment at 735 hospitals across the country, 115 of whom are struggling for their lives on ventilators. More than 2.4 million tests have been conducted thus far. - TLTP Continued from page 8 No # 19 department has cancelled leaves of doctors, nurses, paramedics and other staff of government hospitals. The provincial health authorities have also directed teaching hospitals' administrations to take necessary steps to meet any emergency situation and ensure availability of life- saving medicines and keeping operation theaters in working condition. TLTP Continued from page 8 No # 20 automate Income Tax Refunds and would submit the progress report to the Finance Division regularly. The matter of simplification of Income Tax Returns was also discussed in the meeting. It was decided that FBR would simplify the Income Tax Returns on sectoral basis and the progress of simplification measures taken by FBR would be submitted to the Finance Division. Regarding monitoring of RTOs, CRTOs and LTUs, it was agreed and decided that FBR would submit regular reports to the Ministry of Finance by providing breakdown of the monthly targets and performance along with trend analysis based on sectors. The meeting participants acknowledged the necessity of publicizing the reform initiatives for awareness of the taxpayers and decided that FBR would make efforts to publicize the reform initiatives and the progress to the taxpayers through mass media to create awareness about the measures taken by FBR. It was also decided that FBR would also furnish the regular reports about smuggling situation at borders clearly indicating the number and quantity of seized items. The meeting participants agreed t o str engthen Integrity Management Unit of FBR to resolve the complaints quickly. The meeting decided that FBR would submit report to the Finance Division regarding the assignment of monthly revenue targets and how they were being monitored and assigned. Lastly, the meeting also decided to establish a high level Technical Committee in FBR to evaluate all future proposals. Re- Designation of Inland Revenue Filed Formations Federal Board of Revenue ( FBR) has issued an order under Section 4 ( 1) ( r) of FBR Act- 2007 to re- designate the field formations. The re- designation of IR field formations will be effective from September 1, 2020. According to the order, the Large Taxpayers Unit, Karachi, Lahore and Islamabad have been re- designated as Large Taxpayers Office Karachi, Lahore and I slamabad. The Large Taxpayers Unit- II, Karachi has been re- designated as Medium Taxpayers Office, Karachi. Similarly, the nomenclature of Corporate Regional Tax Office, Karachi and Lahore have been changed as Corporate Tax Office, Karachi and Lahore. The order further re- designated the Regional Tax Office- II, Karachi as Regional Tax Office- I, Karachi, Regional Tax Office- III, Karachi as Regional Tax Office- II, Karachi and Regional Tax Office- II, Lahore as Regional Tax Office, Lahore. FBR to Ensure Speedy Clearance of Perishable Goods In another Trade Facilitation Initiative, FBR has issued instructions to all field formations of Pakistan Customs for ensuring expeditious clearance of imports & exports consignments of perishable goods. The Chief Collectors have been directed to monitor the clearance of perishable goods on daily basis and resolve t he issues of the importers/ exporters on priority. Furthermore the Chief Collectors have been advised to point out the reasons of delay in clearance of perishable goods including the the issues on account of NOC's by other organizations such as Department of Plant Protection etc. so that these organizations can also be approached to facilitate trade & industry. While FBR is making all out efforts to facilitate trade, the Trade Bodies are encouraged to contact the respective Chief Collector for resolution of any issue relating to the clearance of consignments of perishable goods. FBR is striving hard to ensure the highest standards of efficiency and trade facilitation and thus to provide an enabling environment for business in Pakistan. Continued from page 1 No # 8 PPP- led provincial government's move to create Keamari district by bifurcating Karachi's West district reeks of bias. It didn't even take the local government into confidence on the creation of the new district, he added. Aamir claimed that the appointment of JUI- F chief Maulana Fazlur Rehman's brother Ziaur Rehman as the deputy commissioner of Karachi's Central district was a part of this plan. He said his petition enjoys the complete support of Prime Minister Imran Khan. In a meeting on August 20, the Sindh cabinet approved creating a seventh district in the metropolis. Chief Minister Murad Ali Shah also proposed renaming the South district as ' Karachi District'. "The districts in the port city should be named after their popular areas," suggested Murad. - TLTP Continued from page 1 No # 9 growing wave of Hindutva under the RSS- BJP dispensation has emerged as a serious threat not only for minorities in India but also for regional peace and security. The Prime Minister also underscored Pakistan's longstanding support for a political solution in Afghanistan and positive contribution towards an Afghan- led and Afghanowned peace and reconciliation process. The Prime Minister underlined that smart lockdown policy and other measures taken by the government has led to a significant improvement in the pandemic situation in Pakistan. Chairman Senate Sadiq Sanjrani also attended the meeting. Meanwhile, Prime Minister Imran Khan has said the country's economy is on the right track. In a series of tweets on Monday, the Prime Minister said that current account balance swung upwards to a surplus of 424 million dollars in the month of July this year. This, he said, after the current account balance posted a deficit of 613 million dollars in July last year and a deficit of 100 million dollars in June this year. The Prime Minister said this strong turnaround is a result of continuing recovery in exports, which rose 20 percent compared to the month of June, and record remittances. "MashaAllah Pakistan's economy is on the right track. After current account balance posted deficit of $ 613 million in July 2019 and a deficit of $ 100 million in June 2020, in July 2020 current account balance swung upwards to a surplus of $ 424 million," tweeted the Prime Minister. - TLTP Continued from page 1 No # 3 Pakistan to discuss the way forward in the peace process. In October last year, a 12- member delegation of the Afghan Taliban under the leadership of Mullah Baradar had held dialogues with Foreign Minister Shah Mehmood Qureshi after reaching the Foreign Office prior to signing a historic peace deal with the US in February 2020. The delegation had appreciated Pakistan's efforts for peace in the region. The United States ( US) and the Afghan Taliban had signed the historic peace deal, marking an end to the 18year- war in Afghanistan on February 29 this year. US Special Envoy Zalmay Khalilzad and Taliban deputy leader Mullah Abdul Ghani Baradar had signed the agreement during a ceremony in Doha, Qatar, which was witnessed by US Secretary of State Mike Pompeo, Foreign Minister Shah Mahmood Qureshi, Qatari Emir and representatives from fifty countries. - TLTP Continued from page 2 No # 12 a lot to establish KATI as one of the major Trade & Industrial association of the country. "His services to the business community would be remembered forever," he said. Sheikh Umer Rehan said that he was a father- figure for us and have been playing vital role to manage administrative affairs of KATI with full commitment, his departure is not only loss for us, but the business community of Karachi also lost an honest and trustworthy leader. We pray that may Allah Almighty rests his soul in peace and gives courage to his family to bear this irreparable loss. Continued from page 1 No # 4 revive the old status of the territory. He said this is not an ordinary occurrence but an important development as the joint statement issued by the political parties holds the signatures of Farooq Abdullah and enjoys support of the Congress party which is the main opposition party in India. He said it is a clear message to the Modi government that the Kashmiris have stood up against the illegal steps of 5th August. He said that India undertook the illegal steps to change the demography of the disputed territory and disempower the local population. Qureshi said Prime Minister Imran Khan became Kashmiri people's voice at every global forum, vehemently raising and drawing world leaders' attention to the issue. He said the Indian brutal acts of the last one year including military siege and communication blackout have not shaken the resolve of the Kashmiri people. Responding to a question, the foreign minister said there is no change in the stance of Saudi Arabia on Kashmir. He said both Pakistan and Saudi Arabia are discussing different proposals. He said the OIC has several times passed unambiguous resolutions in support of oppressed Kashmiri people. The foreign minister said that China also has been holding a clear stance on the Kashmir issue that the dispute should be resolved under the UN resolutions. To a question about CPEC, the foreign minister said that Pakistan and China have been resolutely pursuing the project and the pace of implementation of the project will increase in days to come. He said that CPEC will benefit not only these two countries but will also lead to regional connectivity. Responding to a question about Israel, Shah Mahmood Qureshi said Prime Minister Imran Khan has categorically stated Pakistan's stance on the issue, which reflects aspirations of the people of Pakistan. Continued from page 2 No # 13 CrPC is to be framed rather than filing in two distinctive courts. Up to date CRO shall be attached with a police report. The meeting was also told that every Saturday training sessions were held for I. O and FIA officials on terror financing and money laundering. The meeting appreciated the implementation of the Apex Committee decision. The meeting decided to request the high court to designate session courts exclusively for trying street crimes. Terrorism: The meeting was told that terrorism was on its peak in 2013 when 51 incidents had taken place which went on containing and finally six incidents took place in 2020. Heinous crime: The Adl IG Karachi Ghulam Nabi Memon said that in 2013 some 2789 cases of killing were reported which went down to 491 in 2019. The incident of target killing recorded at 509 in 2013 came down to 12 in 2019. Kidnapping for ransom came down from 78 in 2013 to 41 in 2019. Similarly, 533 cases of extortion were reported in 2013 which also came down to 128 in 2019. If heinous criminal activities of 2019 are compared with 2020 ( up to August) it showed a reduction of 43 cases in killings, reduction of five cases in target killing, 7 in ransom and 12 in extortion, the Adl IG said. The mobile phone snatching has increased by 1101, four wheelers snatching has reduced by 34 vehicles, two wheelers snatching has increased by 336 vehicles. At this the committee members urged police to start operation against the shopkeepers who were purchasing spare parts of snatched vehicles and mobile phones. In 2020, as many as 2685 criminals involved in robberies were arrested, 416 held red- handed, 19 were killed in police encounters and 3121 weapons of different kinds were Continued from page 1 No # 10 remittances, with support from several policy and administrative initiatives by SBP and government. Exports sustained strong recovery, with m/ m growth of further 19.7% in July on top of 25.5% in June." The exports also exhibited 6.1 percent growth to $ 2 billion in July 2020 as compared with $ 1.88 billion in the same month of the last year. On the other hand the import bill of the country declined by 0.7 percent to $ 3.68 billion in July 2020 as compared with $ 3.71 in the same month of the last year. The trade deficit narrowed by 7.7 percent to $ 1.68 billion in July 2020 as compared with the deficit of $ 1.83 billion in the same month of the last year. Meanwhile, a Press release issued by the State Bank of Pakistan adds that banks disbursed Rs 1,215 billion to agriculture sector during FY 2019- 20. This is 3.5 percent higher than the amount disbursed in the previous fiscal year but less than the credit target of Rs 1,350 billion which was set by Agricultural Credit Advisory Committee ( ACAC) in Peshawar in November 2019. Some factors which have constrained the growth of agriculture credit include the impact of COVID- 19 pandemic, locust attack and continuing real side issues including water shortage, low production of cotton, sugarcane, low off take of fertilizers and volatility in prices of agri. produce etc. The outstanding portfolio of agriculture credit increased to Rs 581 billion at end June, 2020, registering growth of 3.3% compared with the last year's position of Rs 562 billion. However, the number of agriculture borrowers declined from 4.01 million at end June 2019 to 3.74 million at end June 2020 due to the Continued from page 8 No # 21 Collector Balochistan, Chief Commissioner IR Karachi, Chief Collector Islamabad, DG Customs Karachi, member Customs Operation, Chief Commissioner IR Faisalabad. The officials have been directed to improve their performance regarding resolution of public complaints. The report indicated that strict action will be initiated in case the public complaints are not addressed in a satisfactory manner. The Prime Minister Office directed the FBR chairman to reopen 556 complaints and ensure their resolution on merit. The report also commended the performance of best performing officers. - TLTP PRINTED AND DISTRIBUTED BY PRESSREADER PressReader. com + 1 604 278 4604 O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y COPYRIGHT AND PROTECTED BY APPLICABLE LAW
© PressReader. All rights reserved.