Saudi Arabia to support Pakistan in all economic sectors

RECORDER REPORT

ISLAMABAD
(October 25 2008)

Ambassador of Saudi Arabia Ali Saeed Mohammad al-Awad Assery has said that the government of Saudi Arabia is ready to support Pakistan in all sectors of the economy.

During a meeting with Dr Fehmida Mirza, Speaker National Assembly on Friday, the Ambassador stressed the need for spreading the true message of Islam through placing appropriate people on the pulpit for curbing extremism from the Muslim World.

The Saudi Ambassador also handed over a letter from Imam-e-Kabah Dr Saleh Bin Abdullah in which Imam-e-Kabah condemned the Islamabad explosion on his behalf and on behalf of the Members of Shura Council of Saudi Arabia. The Imam-e-Kabah Dr Saleh Bin Abdullah Bin Humaid expressed his sympathies for the affected families and prayed for the departed souls.

While talking to the Ambassador at the Parliament House, Dr Fehmida Mirza said that Saudi Arabia has always supported Pakistan in difficult times and is also expected to play a leading role in the Group of Friends. She said that new government was facing many challenges, which could be overcome with the support of friendly countries like Saudi Arabia.

She said that the adoption of unanimous resolution by all political parties on the issues of national security and curbing terrorism was a landmark achievement of the Parliament and has sent a clear message to all that the whole nation was united on issues of national importance. She said that the resolution in fact envisages change in the course of history. The Speaker said that stable and strong Pakistan was necessary for stability of the region. She said that Pakistan was pursuing a multi-pronged policy including dialogue, development and determination to end terrorism and extremism from the country. The Speaker informed the Ambassador that the Speaker's Relief Fund for the internally displaced people of Bajaur and Fata has been established to provide them relief and rehabilitation. The Speaker further informed that the fund was established with the consent of the House and a committee comprising parliamentarians was formed to oversee and handle the relief work.

Copyright Business Recorder, 2008

'Great potential to boost economic ties between Pakistan and Canada'

ISLAMABAD
(October 25 2008)

Pakistan and Canada need to reinforce their bilateral economic relationship, specially trade and commercial exchanges for which there is a great potential, High Commissioner to Canada, Musa Javed Chohan said while addressing the ambassador's roundtable organised by the prestigious institution the Norman Patterson School for International Affairs at the Carleton University in Ottawa.

Chohan said that with a population of approximately 165 million people, Pakistan offers an attractive and huge market for Canadian exports and investments. "Foreign investment is critical to our endeavours to maintain our economic growth rate of 7 percent so necessary to meet the requirements of our burgeoning population," he added.

Highlighting Pakistan's contributions in the war against terrorism, Chohan said Pakistan was fighting the war against terrorism in its national interest and making every possible effort to eliminate this scourge from the globe. He said peace, stability and security in Afghanistan were crucial for Pakistan. Without stability in Afghanistan there cannot be stability in Pakistan.

Pakistan was providing $300 million for Afghanistan's reconstruction, besides offering 1000 scholarships for training of Afghan cadres. He said Pakistan was following a policy of constructive engagement with the Karzai government. Pakistan has deployed 100,000 troops to fight terrorism, which is more than the collective presence of international troops, deployed across Afghanistan.

Chohan said there were institutional frameworks available for co-ordinating military actions in Afghanistan such as the Tripartite Military Commission. As far as Pakistan was concerned, it will continue its efforts to eradicate the menace of terrorism and extremism, which affects the fabric of body politics. Chohan appreciated the sacrifices made by Canada in the war against terrorism. He said Canadian involvement and troops presence in Afghanistan added another perspective to Pakistan-Canada relations.

He said Pakistan was firm in its commitments to Afghanistan and hoped that other nations involved were equal in their resolve. Talking of bilateral relations, he said there was a strong political will at the highest level to further strengthen and broaden Canada-Pakistan relationship. The function was attended by Canadian Academia, intelligentsia and media persons

Copyright Associated Press of Pakistan, 2008

RECORDER REPORT

ISLAMABAD
(October 25 2008)

Pakistan and USA on Friday signed agreements, worth $339.10 million, on strategic objective grant to be spent in areas of economic growth, education, governance, health, population welfare, earthquake reconstruction programme and Fata development programme during fiscal year 2008-09.

Under the strategic objective grant agreements, for Education Sector Support Programme US Government has committed to provide $128.9 million. This contribution will strengthen and improve basic education and higher education programme. It will further enhance the need and merit-based scholarships programme with the collaboration of Pakistan Higher Education Commission.

The financial assistance under Governance to the tune of $23.2 million will be spent for improvement of justice system, civil participation and media freedom, improvement in electoral process and decentralisation programme. Similarly, the amount allocated for Health & Population Welfare of $76.5 million will ensure improvement of reproductive hea1th, HIV Aids, tuberculosis, maternal and child health and water supply & sanitation in different parts of the country.

The financial assistance under economic growth amounting to $43.5 million will ensure the economic stability in the areas such as trade & investment, infrastructure, agriculture, private sector competitiveness and strengthening of micro enterprises productivity.

Under Earthquake Reconstruction Programme the Government of United States has committed to provide $48.5 million. The said contribution will further enhance the technical assistance & capacity building in the affected areas and will also be utilised for construction and procurement.

In September 2007, US Government had approved huge package assistance for Fata Development amounting to $750.0 million over a period of five years (2007-2012). Last year, US Government provided $73.0 million under this programme, whereas now $20.5 million will be disbursed during the year 2008-09. The funds under this programme would be utilised for capacity building of Fata Secretariat and other government institutions for service delivery, good governance, infrastructure, economic growth, micro enterprises development, health arid education.

Earlier, Anne Aarnes, Director, USAID/Pakistan and Farrukh Qayyum, Secretary, Economic Affairs Division, signed these SOGA Amendments on behalf of their respective governments, whereas James Kunder, Acting Deputy Administrator of USAID, Gerald Feierstein, Deputy Chief of Mission, US Embassy, Islamabad and Shaukat Tarin, Adviser to Prime Minister on Finance, Revenue and Economic Affairs signed the agreements as witnesses.

Copyright Business Recorder, 2008

Soft loan to industrialists for generating electricity urged

RECORDER REPORT

ISLAMABAD
(October 25 2008)

Government should give special incentives and soft loans to Industrial sector and motivate them to generate their own electricity and help country at this hour of need, said Senator Talha Mehmood, Chairman, Senate Standing Committee on Interior. He said this while talking to a group of journalists here on Friday..

He said that 12 to 18 hour long power breakdown have forced the industrialists to lock their factories and units and put a negative impact on productivity of the country."

He stressed the need of immediate initiation of construction work on big dams on which people have complete consensus, besides working on small projects to provide immediate relief to masses.

He criticised the load-shedding policy of the government and said that this would have negative impacts and result in worst law and order situation. "People would have no other option to come in streets and start loot and arson," he added. Government should work on war footing to address the current power crisis and reduce the power tariff to give relief to the people, Talha Mehmood said, adding that government should adopt both short and long term policies to address the power crisis to bail out country from this darkness.

He said that load-shedding has jammed the wheel of industry and has brought the economy to a stand still and forced people to come out in streets to protest. "Factories and other small industries were closed due to long power breakdowns, which have rendered thousands of people jobless", he added.

"I am shocked over callous attitude of Wapda, as there was no load-shedding during the holy month of Ramazan and every thing was normal, but soon after Ramazan passed country plunged into darkness," Talha said. He also said that the mismanagement of Wapda and other concerned institutions has brought Pakistan in to dark age. Government should take serious note of the situation and save the country from complete disaster, he concluded.

__________________
Time is the longest distance between two places.