Friday, June 01, 2012, Rajab 10, 1433
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Business & Finance
Sufficient reserves to make IMF repayments: YaseenAmanullah Khan Karachi—The Governor, State Bank of Pakistan, Mr. Yaseen Anwar has said that Pakistan will not face any risk in making repayments to the International Monetary Fund (IMF). ‘We face no risk in being able to make next year’s IMF payments from our adequate reserves,’ he said in a rebuttal to a story published in the Wall Street Journal (WSJ) on May 29, 2012.
In his letter, published in the WSJ today, he clarified that the decline in our projected reserves will be partially offset by an increase in remittances which will exceed $13 billion this fiscal year, and additional foreign direct investment in the pipeline that includes U.S. company investments in the power sector.
Pakistan, Brazil to promote trade, economic activitiesStaff Reporter Islamabad—Pakistan and Brazil will sign a number of agreements and memorandum of understandings to promote trade and economic activities and strengthen bilateral ties during the forthcoming visit of Prime Minister Syed Yusuf Raza Gilani to Rio de Janeiro in second week of June.
Talking to newsmen informally here at Brazilian embassy after donating US# 250,000 to Pakistan for the repatriation of Afghan refugees, the Brazilian ambassador to Pakistan Alfredo Leoni said, although Prime Minister Gilani will visit Brazil to attend the United Nations Sustainable Development Conference but there will be bilateral talks between Pakistani and Brazilian leadership during this visit.
Pak inks 1000 MW electricity import agreement with IranLahore—The spokesman of National Transmission and Despatch Company Limited (NTDCL) has said that the Govt. of Pakistan has signed the agreement of 1000 MW import of electricity with Iran today. The agreement was signed between the delegation of Pakistan, headed by Managing Director NTDCL Mr Rasul Khan Mahsud and deputy Iranian Minister for energy Mr Muhammad Behzad. According to the agreement the 70 percent funding of the project will be provided by Iranian Govt whereas 30 percent will be arranged by the Govt of Pakistan.Gilani for taking up hill torrents water management programmeStaff Reporter Islamabad—Prime Minister Syed Yusuf Raza Gilani Thursday directed to launch Hill Torrents Water Management Program and called for construction of purpose-build small dams to store rain water for drinking and irrigation.
Talking to Dr. Iftikhar Ahmad, Director General National Agricultural Research Council at the PM House, the Prime Minister directed that Rs 500 million be kept in the Annual Development Plan 2012-13, for the purpose.
Shahbaz for rooting out poverty from South Asian regionSalim Ahmed Lahore—Punjab Chief Minister Muhammad Shahbaz Sharif has said that good neighborly relations will have to be promoted for a durable peace in South Asia. He said that there is a need to create an atmosphere of tolerance and peaceful coexistence for rooting out poverty and ignorance from this region so that the peoples of India and Pakistan could achieve those objectives of progress and prosperity which were envisioned by the founders of the two countries in 1947.
PPMA may invoke SC if import of medicines from India allowedStaff Reporter Islamabad—Fearing a severe shortage of psychotropic medicines that use ephedrine compound the government issued quota of the compound to pharmaceutical companies a few days back.
The government released quota of ephedrine in January 2012, but due to ongoing scam allocation was delayed.
New PIA Chief shows he means businessCommentKhalid Butt THE national flag carrier, PIA, has been in a state of utter shambles, both financially and administratively for a fairly long time. It has been fighting a desperate battle of survival after accumulating a staggering loss of Rs. 110 billions, suffering all kind of operational, administrative, disciplinary problems for quite some time. Things had been progressively aggravating with appointments of successive chief executives on political grounds and not on any basis of proven merit or ability. Aviation is highly complex and sensitive sector which requires incumbents especially heading the top management positions purely on merit and required standard of skills for this industry.
Governor GB appreciates BISP roleStaff Reporter Islamabad—Benazir Income Support Programme (BISP) has given special compensation in its poverty score benchmark for the families with one or more disabled persons so that they could be supported through the programme throughout the country including Gilgit Baltistan. Also, more deserving families who fall just above the criteria have been given the right to appeal through BISP’s Grievance Redressal System so that more and more deserving families could be included in the programme. This was said by Farzana Raja, Federal Minister and Chairperson BISP while talking to Governor Gilgit Baltistan Pir Syed Karam Ali Shah who visited BISP Secretariat on Wednesday.
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