Economic Survey 2011-12

Govt to jack up growth rate to 5-6%: Hafeez

GDP growth 3.7pc , Investment showed downward trend , Exports steady, Imports up by 14.5pc

Islamabad—Pakistan’s GDP growth rate remained 3.7% during financial year 2011-12, which is highest in the last three years, says Economic Survey 2011-12 released by Finance Minister Dr. Abdul Hafeez Sheikh on Thursday. Dr. Abdul Hafeez Shaikh on the eve of historic “election budget” for the fiscal year 2012-13 said that economically this had been the most difficult year for the whole world. He said this while pulling the curtain on the Economic Survey 2011-12 during a press conference here in the federal capital.

Hydel power increases to 33.6 % , Remittances surge by over 20% , Economic survey boosts hopes for pro-poor budget

Islamabad—Minister for Finance, Dr. Hafeez Sheikh on Thursday said contribution of Hydel electricity generation during 2011 increased to 33.6 per cent. Announcing the Economic Survey 2011-12 at a press conference, he said the government was implementing a number of priority hydel projects which is the cheapest way of generating electricity. He said these projects are 969 MW-Neelum Jhelum, 1410 MW- Tarbela 4th Extension and Patrind in the private sector while almost 96 percent of work on the main dam at Mangla, spillway and allied facilities are completed and resettlement work is in progress.

Punjab LB polls on non-party basis

Lahore—Punjab Chief Minister Muhammad Shahbaz Sharif presided over a meeting of the provincial cabinet here Thursday which gave approval to the draft law of Punjab Local Government Act 2012. The meeting also granted approval to the setting up of building control authorities at the divisional level to check the incidents resulting from dangerous and dilapidated buildings. The offices of these authorities will also be set up at district and tehsil levels. The meeting decided that the youth will be given full representation in the new local government system. The performance report of Punjab Public Service Commission for the year 2010-11 and the annual report of Punjab Pension Fund were also discussed in the meeting.

Saudi official manhandled at BB Int’l airport

Islamabad—ASF personnel at Benazir International Airport allegedly thrashed an official of Saudi embassy. According to reports, ASF officials thrashed Saeed Al-Shehri an official of the Saudi embassy after an exchange of hot words. The scuffle took place when airport security officials stopped Al-Shehri for security check. Following the incident the Saudi ambassador to Pakistan, reached the airport. Later, he enquired about his health in hospital.

New budget targets to be achieved: Gilani

Islamabad—Prime Minister Yusuf Raza Gilani has expressed his determination to achieve all the targets to be set in the next budget to accelerate the pace of socio-economic development. Responding to questions in PTV programme he said this would be the first time in the history of the country to have presented the 5th budget and transfer power to the next elected Government.

Govt exceeding its mandate: Nawaz Demands immediate elections

Matli—Pakistan Muslim League-Nawaz chief Nawaz Sharif has said that the present government was exceeding from its mandate, adding that people had not voted it for the current situation. Addressing a huge public meeting in Matli on Thursday, the PML-N Chief said his party wanted to get rid of what he called ‘corrupt PPP rulers’ and demanded free, fair and transparent elections in the country.

PM’s disqualification case Speaker’s ruling can’t be challenged: Kaira

Islamabad—Federal Minister for Information and Broadcasting Qamar Zaman Kaira said on Thursday that the ruling of Speaker National Assembly on the issue of disqualification of the Prime Minister, cannot be challenged according to the Constitution. He said the Speaker is not biased and she remained neutral throughout the four years tenure.