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  #131  
Old Wednesday, February 25, 2009
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By Michael D. Shear and Anne E. Kornblut
Washington Post
Wednesday, February 25, 2009

President Obama offered a grim portrait of America's plight in an address to a joint session of Congress last night, but he promised to lead an economic renewal that would lift the country out of its current crisis without bankrupting its future.
Striking an optimistic tone that has been absent from his speeches in recent weeks, the president said his stimulus plan, bank bailout proposal, housing programs and health-care overhaul would work in concert to turn around the nation's struggling economy. And while he bluntly described a country beset by historic economic challenges and continued threats abroad, he said the solution lies in directly confronting -- not ignoring -- those problems.

"The weight of this crisis will not determine the destiny of this nation," he said. "The answers to our problems don't lie beyond our reach. They exist in our laboratories and universities, in our fields and our factories, in the imaginations of our entrepreneurs and the pride of the hardest-working people on Earth."

In an address that largely shunned foreign policy to focus on the economy, Obama added: "Now is the time to jump-start job creation, restart lending, and invest in areas like energy, health care and education that will grow our economy, even as we make hard choices to bring our deficit down."

The 52-minute speech was greeted with sustained applause in the House chamber, which he had helped populate with more members of his party. Republican and Democratic lawmakers alike rose repeatedly to offer their approval of the president's rhetoric and his promise of recovery.

Obama received a standing ovation when he vowed that corporate chief executives would no longer travel on private jets at the same time they laid off thousands of workers. "Those days are over," he said. Lawmakers leapt to their feet again when he declared that "health-care reform cannot wait, it must not wait, and it will not wait another year."


While he largely avoided partisan rhetoric and did not directly point the finger of blame at his predecessor, George W. Bush, Obama did describe an "era" of greed and short-term profit that he said the nation is now leaving behind, and he stressed that he had not created but rather "inherited" the $1 trillion deficit, along with what he called "a financial crisis and a costly recession."

The "day of reckoning has arrived," he declared, warning members of both parties in Congress that they will be forced to sacrifice "worthy priorities" as the crisis continues.

But he made it clear that he is not prepared to retreat from his own ambitious agenda. The president called on Congress to pass a market-based cap on carbon pollution. He vowed a renewed effort to provide health care to all Americans. And he called on Americans to attend at least one year of college or vocational training, pledging that by 2020, the country will again lead the world in the proportion of college graduates.

Obama did seek to temper expectations in his address, acknowledging that he cannot "solve every problem or address every issue." But he promised to deliver a budget tomorrow that will serve as a new "vision for America -- as a blueprint for our future."

He avoided in-depth discussion of his Iraq policy, saying only that in the coming days he will "announce a way forward in Iraq that leaves Iraq to its people and responsibly ends this war." That announcement could come as early as Friday, during a trip to North Carolina. Advisers said he is considering a plan to withdraw all U.S. combat troops from Iraq as soon as August 2010, three months later than promised during the campaign.

After weeks of persistent questions about whether he had grown too downcast and pessimistic in describing the economic crisis to the American people, White House officials said Obama was seeking to strike an appropriate balance between hope -- the mantra of his campaign -- and realism in an era of serious problems. He sought to juxtapose those ideas repeatedly, saying at one point: "While our economy may be weakened and our confidence shaken, though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before."

Like his predecessors, Obama cited the stories of guests invited to the speech by the White House to reflect "the spirit of the people who sent us here." One of those, a South Carolina high school student named Ty'Sheoma Bethea, sought help for her crumbling school by writing a letter to members of Congress, Obama said. "We are not quitters," he said, quoting her letter. "That's what she said. We are not quitters."

Obama's speech was his first major address since he was inaugurated five weeks ago, as well as his first opportunity to offer a coherent narrative for the early weeks of his presidency, during which the economy has shown no signs of stabilizing.

Last week, former president Bill Clinton chided Obama for not offering the kind of uplifting rhetoric that was a staple of his campaign.

"I like trying to educate the American people about the dimensions and scope of this economic crisis," Clinton said on ABC's "Good Morning America." "I just would like him to end by saying that he is hopeful and completely convinced we're going to come through this."

That has been difficult amid signs that the economic meltdown that began in late September has only deepened and broadened.

The nation's biggest banks are on the verge of collapsing without government investment that could lead to a nationalization of the industry. Foreclosures continue to chase Americans from their homes in record numbers, and the auto industry is failing despite the infusion of billions from the federal Treasury.

Under pressure to explain the necessity of a bank bailout program that many see as a reward for Wall Street, Obama made a detailed case for continuing to pour government money into the financial sector.


"There will be no real recovery unless we clean up the credit crisis that has severely weakened our financial system," he said.

The president sought to calm jittery investors by assuring that bank deposits are safe. But, he said, the assistance to the banking industry is not an abstract idea with distant consequences, but rather an immediate concern for average citizens.

"If we do not restart lending in this country, our recovery will be choked off before it even begins," he said. "You see, the flow of credit is the lifeblood of our economy. . . . When there is no lending, families can't afford to buy homes or cars. So businesses are forced to make layoffs. Our economy suffers even more, and credit dries up even further."

Advisers have warned that Obama will make "hard choices" in his first budget blueprint, which he is set to deliver tomorrow. The president has pledged to cut the nation's deficit in half by the end of 2012, allowing tax cuts for the wealthy to expire and reducing war spending as the U.S. military draws down troops from Iraq over the next year and a half.

That puts him on a collision course with many Republican lawmakers, who have already begun to question the wisdom of Obama's proposed spending cuts and tax increases.

Even before Obama began speaking, the GOP made clear its unwillingness to bend to the president's will. In excerpts from his official Republican response, Louisiana Gov. Bobby Jindal derided Obama's legislative agenda as full of big-government ideas that will not succeed in repairing the nation's economy.

"What it will do is grow the government, increase our taxes down the line and saddle future generations with debt," said Jindal, who is running for reelection and is considered a potential contender for the presidency in 2012. "Who among us would ask our children for a loan, so we could spend money we do not have, on things we do not need? That is precisely what the Democrats in Congress just did. It's irresponsible."
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  #132  
Old Tuesday, March 03, 2009
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Six-month consolidated budget deficit rises to Rs 250.5 billion
RECORDER REPORT

ISLAMABAD (March 03 2009)


The consolidated budget deficit of the federal and four provincial governments has accumulated to Rs 250.5 billion during first half (July-December) of 2008-09 fiscal year. According to a Fiscal Operations Report of Finance Ministry issued here on Monday?, total revenues of the government stood at Rs 834.47 billion and expenditures at Rs 1.085 trillion during first half of 2008-09.

Breakup of current expenditure shows that Defence expenditures stood at Rs 147.78 billion during the period under review. The federal government transferred Rs 250.58 billion to Punjab, Sindh, NWFP and Balochistan as provincial share in federal revenues under interim National Finance Commission (NFC) Award, during this period.

The summary of consolidated federal and provincial budgetary operations showed out of total revenues of federal and provincial tax collection stood at Rs 577.99 billion. In non-tax revenues Rs 69.128 billion were collected from petroleum and gas sector that include Rs 28.839 billion as petroleum development surcharge and Rs 8.510 from gas development surcharge, discount rate on crude oil Rs 5.967 billion and royalty on oil and gas stood at Rs 25.812 billion. Total non-tax revenues stood at Rs 256.48 billion during the July-December period of current fiscal year.

The details of the expenditures of the federal government during July-December period revealed that the government spent Rs 1.085 trillion, which included Rs 916.7 billion as non-development expenditures. The details of the current expenditures (Non-Development) in first half the government paid Rs 299.855 billion as interest on local and foreign loans, Rs 265.934 billion were spent on servicing of domestic debt and Rs 33.921 billion were spent on servicing of foreign debt. Total defence expenditures were Rs 147.7 billion, the development expenditure and net lending during the first half stood at Rs 132.979 billion.

The budget deficit stood at Rs 250.56 billion that was financed through Rs 36.991 billion from external resources and Rs 213.577 billion from domestic resources. Total non-bank borrowing amounted to Rs 31.309 billion, bank borrowing at Rs 180.97 billion and privatisation proceeds were Rs 1.290 billion.

Breakup showed that provincial revenues of Punjab amounted to Rs 159.769 billion against expenditures of Rs 148.9 billion during the first half of current fiscal leaving a surplus of Rs 10.844 billion. Punjab received Rs 123.962 billion as revenue share from federal taxes as NFC Award share. Punjab received grants worth Rs 2.156 billion and loan of Rs 3.063 billion from federal government. Development expenditures of the province stood at Rs 28.676 billion and non-development expenditures were 120.249 billion during this period.

Total revenues of Sindh Province stood at Rs 89.916 billion and total expenditures of the province remained at Rs 94.033 billion, resulting in budget deficit of Rs 4.117 billion. Sindh received Rs 76.722 billion as NFC award share of the federal taxes from the federal government. Non-development expenditures of the provincial government stood at Rs 83.079 billion and development spending remained at Rs 10.954 billion in said period.

Revenues of the NWFP amounted to Rs 44.035 billion and total expenditures of the province stood at Rs 29.090 billion during the first half leaving a budget surplus of Rs 14.945 billion. The NWFP government received Rs 31.364 billion as NFC Award shares from the federal government during the said period. Development expenditures were Rs 5.635 billion and non-development expenditures were Rs 23.455 billion.

Revenues of Balochistan stood at Rs 32.728 billion, whereas expenditures remained at Rs 22.319 billion, leaving a budget surplus of Rs 10.40 billion. The provincial government received a sum of Rs 18.532 billion as NFC Award share from the federal government during the period under review. Province received loans of Rs 1.078 billion, current grants at Rs 6.281 billion and Rs 5.547 billion as development grants.


Copyright Business Recorder, 2009



Ministries divided over trade with India through Wagha


MUSHTAQ GHUMMAN

ISLAMABAD (March 03 2009)


The ministries are divided over opening of trade links with India through Wagha-Attari border, previously agreed between President Asif Zardari and Indian Prime Minister Manmohan Singh in New York in September last year, sources in Finance Ministry told Business Recorder here on Monday.

The Economic Co-ordination Committee (ECC) of the Cabinet, which is scheduled to meet on Tuesday, will discuss the pros and cons of a joint proposal of Commerce and Foreign Affairs Ministries. Interior Ministry is on top of the ministries which are opposing initiation of trade with New Delhi through land route, especially Wagha-Attari crossing points, saying that "under the prevailing circumstances, status quo should be maintained with India". Wagha-Attari border was opened for imports from India for the first time on May 4, 2005 with the approval of the Prime Minister for import of potatoes, tomatoes, garlic, halal meat and live bovine animals.

Subsequently, sugar, cement, cotton, maize, stainless steel, paddy harvesters and threshers and cotton yarn were also added to the list of items allowed to be imported through this route, with the approval of the ECC and, in certain cases, by the Federal Cabinet.

All other items currently importable from India can only be imported by sea, or through Wagha by rail. Presently, however, there is no restriction on exports to India through Wagha, either by rail or by road.

In order to facilitate trade across the Wagha-Attari road crossing, trucks of both countries are allowed to move within the respective territories of Pakistan and India for loading/unloading of cargo. This arrangement is operational since October 1, 2007.

As ascertained from the customs authorities of Pakistan at Wagha, statistics of trade with India via land since October, 2007 show that import from India amounted to Rs 3516.598 million, exports to India nil, and Afghan exports to India in transit from Pakistan amounted to Rs 2367.093 million.

These statistics show that although there is no restriction on exports to India, there has been no export through this route even after facilitation of movement of trucks across the border.

A major reason is lack of infrastructure on Indian side of the border. In the composite dialogue, India has shared a proposal with Pakistan about the future projects to be developed to operationalise this route for bilateral trade. The project is likely to be completed in the short term, sources said.

Simultaneously, on Pakistan side of the border, there is also a need to develop a road/highway network bypassing the city of Lahore to cater to substantial influx of imports from India by road.

Accordingly, the Commerce Ministry has proposed that (a) the decision communicated by Ministry of Foreign Affairs should be implemented in a phased manner, commensurate with the parallel development of infrastructure on either side of the border to cater for potential spurt in the bilateral trade, and (b) India should be conveyed during the next meeting of the composite dialogue under economic and commercial co-operation likely to be held at Islamabad, the concurrence in principle of Pakistan to open Wagha-Attari for permissible items of trade to be fully operationalised after necessary infrastructure is developed on both sides of the border.

Meanwhile, Commerce Ministry has also sought authorisation to allow import of goods from India by road on the request of stakeholders in Pakistan, sources said. "The Federal Board of Revenue (FBR) has also supported the proposal fully whereas Industries Ministry and Communication Ministry have agreed to support the proposal partially," sources added.


Copyright Business Recorder, 2009




Strategy evolved to enhance Pak-Indonesia trade

LAHORE (March 03 2009)


Business leaders of Pakistan and Indonesia on Monday agreed to evolve a strategy to enhance bilateral trade and to bridge the trade gap between the two countries.

According to a message received here on Monday from Jakarta where a 10-member high level Pak traders delegation is currently attending fifth three-day World Islamic Economic Forum (WIEF), this was resolved during a meeting of Pakistan business group, led by Tariq Sayeed and Iftikhar Ali Malik, former Presidents of FPCCI and counterparts of Indonesian Chamber of Commerce and Industry (ICCI).

They were of the opinion that Indonesia and Pakistan being the World's sixth and seventh largest nations formed a combined market of 325 million people; however the volume of trade between these countries was negligibly less than 1% of their total with rest of the World.

Since both the markets provide a sizeable import market of $125 billion, there was an ample opportunity to make niche in each other's markets, said Tariq Sayeed and stressed for formulation a strategy that trade volume between the two countries is augmented to the level of existing potential and Pakistani products are marketed in a prospective manner.

Iftikhar Ali Malik, Deputy leader of Pak delegation said that the present volume of trade between Indonesia and Pakistan was estimated $1.24 billion in the year 2007-08, showing a huge trade deficit of $1.17 billion to Pakistan, which was due mainly to import of vegetable and animal fats, petroleum products, man-made fibre, paper products and organic Chemicals from Indonesia.

Tariq Sayeed urged the ICCI to encourage imports from Pakistan since many of Pakistani products had a great potential for Indonesian Market and in the absence of appropriate marketing such products had not been able to capture the market.

The exports from Pakistan were disappointingly estimated at only $61 million in the year 2007-08. Fachry Thaib, chairman organising committee of WIEF for Middle East and Asia,Herbursy,Sachman H. Kademin Secretary General ICCI and many other businessmen from Indonesia were present in the meeting.

The other members of Pak delegation who attended the meeting comprised Zubiar Tufial, former VP, FPCCI, Muhammad Siddique Sheikh,Azhar majeed Sheikh, Mian Mehmood Ahmed,Jamil Naz,Muhammad Aamir Sorathia,Sheharyar Ali Malik,Salman Tufail and Kashif Younus Mehar.


Copyright Associated Press of Pakistan, 2009



'Political turmoil to exacerbate economy'


KARACHI (March 03 2009)

Political turmoil in country after a court banned the most popular opposition leader running for public office could make the stagnant economy even more dependent on US aid and IMF bailouts. Thousands of supporters of Nawaz Sharif have rallied across the country, with mobs setting cars ablaze and clashing with police in the biggest protests against the rule of President Asif Ali Zardari.

Analysts say Pakistan can ill afford a political crisis on top of extremist attacks that have killed more than 1,600 people in under two years, financial crisis and international pressure to prosecute those behind the Mumbai attacks. As soon as the Supreme Court disqualified Sharif last Wednesday, panic selling wiped five percent off the Karachi Stock Exchange in the worst single-day performance in 32 months.

"The current political crisis will force us to depend even more on the International Monetary Fund (IMF) and accept all its conditions," economist Rauf Nizamani told AFP. Buffeted by nation-wide bombings, insurgency and global financial turmoil, country was hit last year by 25 percent inflation and saw 10 billion dollars wiped off its international reserves from October 2007 to October 2008.

The country's economic managers had no choice but approach the IMF to stave off a looming balance-of-payments crisis that could have seen the Muslim country of 160 million default on its foreign debts. The IMF approved a stand-by loan of 7.6 billion dollars for cash-starved Pakistan and released its first tranche of 3.1 billion dollars in November.

This year's fiscal deficit target is 5.5 percent of gross domestic product (GDP), compared to last year's 7.4 percent. country's current account deficit was 8.4 percent of GDP last year, which the authorities are trying to get down to 5.5 percent under IMF targets. The authorities also aim to get inflation down to 20 percent by the end of this fiscal year in July.

In its first quarterly review, the IMF praised Pakistan and noted initial success in stabilising the economy, but it wants a reduction in the deficit and huge borrowings from the central bank. "The present situation will lead to further political instability, weaken the government's position and increase its dependence on the United States and the IMF," said Yusuf Nazar, an independent economist.

US Senator John Kerry has called on the United States to triple non-military aid to Pakistan to 7.5 billion dollars over five years, warning that "time is running out" to help the civilian government survive. The Atlantic Council think tank has estimated that Zardari's government has six to 12 months to enact successful security and economic policies or face the prospect of collapse.


Copyright Agence France-Presse, 2009
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  #133  
Old Friday, March 06, 2009
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Default U.S. Unemployment Rate Jumps to 8.1 Percent

By Debbi Wilgoren
Washington Post Staff Writer
Friday, March 6, 2009; 11:39 AM

The nation's unemployment rate climbed above 8 percent last month and the economy shed 651,000 jobs, new data shows, further evidence of the deepening recession that has devastated the stock market and home prices and triggered the largest government recovery effort since the Great Depression.

The Bureau of Labor Statistics said the jobless rate rose from 7.6 percent in January to 8.1 percent in February, the highest rate in more than 25 years. An estimated 12.5 million Americans were unemployed in February, the data show, an increase of 851,000 since January. More than 4.4 million people have lost their jobs since the recession began in December 2007, U.S. Labor Secretary Hilda Solis said.

The government revised sharply upward the number of jobs the economy lost in December and January, showing a staggering 1.99 million jobs disappearing in the past three months.

More jobs were lost in each of those months than in any single month since October 1949, when the country was just pulling out of a painful recession (economists say direct comparisons to that era are difficult, however, because of changes in the labor force).

December had the most job losses, according to the revised figures, with 681,000 -- significantly more than the previous estimate of 524,000. The number of jobs lost in January rose to 655,000, up from a prior estimate of 598,000. An additional 651,000 jobs disappeared last month, the government said, illustrating the profound challenges of launching an economic recovery as employers continue to slash payrolls in a desperate effort to control costs.

The unemployment rate has shot up 3.2 percent since the recession began and is higher now than at any time since December 1983. Nearly 3 million Americans have been unemployed for six months or more.

The Obama administration has moved to stifle the job losses, primarily by approving an ambitious fiscal stimulus plan designed to plow money back into the economy. But the allocation of the money is just beginning, and the full effect of the spending probably will not be seen for some time.

Speaking to a group of newly minted police officers in Columbus, Ohio this morning, President Obama said the expensive and broadly drawn plan to invest in government and private sector jobs and infrastructure is a necessary response to a deep and dire recession.

"So many of you have been watching jobs disappear since even before this recession began," Obama said. "That is not a future I accept for the United States of America . . .

"Throughout our history we have met every great challenge through bold action and big ideas. That's what has fueled a shared and lasting prosperity . . . We have a responsibility to ourselves and to our children to do it again."

In an e-mailed statement, Solis said the government would "continue to do whatever is necessary to break the destructive cycle of job loss in this country and put Americans back to work."

The U.S. stock market opened higher this morning, then fell slightly, after sustaining sharp losses yesterday., Asian markets fell overnight.

The February data showed profound losses in the professional and business services sector, with 180,000 jobs gone. Some 168,000 jobs were lost in the manufacturing industry, with most of the decline in the durable goods sector. There were 104,000 construction jobs lost as projects stalled due to the collapse of the real estate industry and the ongoing credit crisis. The financial sector shed 44,000 jobs, retail lost 40,000 jobs and the leisure and hospitality industry reported 33,000 fewer jobs. Job growth continued, however, in the health-care sector.

Analysts say the pace of job cuts is likely to remain brisk for at least a few more months, because the demand for goods and services seems likely to remain very low as more consumers find themselves out of work. According to newly released data, the nation's productivity, a measure of goods and services produced per hour, fell at the end of last year. That suggests that demand for goods has dropped even faster than employers have been shedding jobs. Those who have lost their jobs are not eager to open their wallets, analysts say, while many of those who remain employed are cutting back because of fears about job security.

The new jobless numbers show that blacks and Hispanics are unemployed at higher rates than the national average. About 13.4 percent of blacks and 10.9 percent of Hispanics were looking for work in February, compared with 12.6 percent of blacks and 9.7 percent of Hispanics in January. The unemployment rate for whites rose to 7.3 percent, up from 6.9 percent the previous month. An estimated 6.9 percent of Asians were unemployed in February, up from 6.2 percent in January.

The number of people working part time because they cannot find full-time employment rose by 767,000 in February to 8.6 million, the government said.

The unemployment rate does not reflect people who say they would like to work full-time, but can only find part-time jobs, or who would like to be working but have given up finding employment because of the depressed market. When those categories are added to the number of unemployed -- technically those people who are actively seeking but unable to find jobs -- the government's "labor underutilization" rate measures 14.8 percent, up from 13.9 percent last month and 9.5 percent a year ago.

The average length of the workweek remained at a relatively low 33.3 hours for the third consecutive month.
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  #134  
Old Friday, March 13, 2009
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Pakistans foreign exchange reserves fall to $10.05 billion


KARACHI
(March 13 2009)


Pakistans foreign exchange reserves fell by $90 million to $10.05 billion in the week that ended on March 7, the central bank said on Thursday. The State Bank of Pakistans reserves dropped to $6.61 billion from $6.69 billion a week earlier, while reserves held by commercial banks slipped to $3.44 billion from $3.45 billion, the bank said.

Pakistans foreign reserves hit a record high of $16.5 billion in October 2007 but fell to $6.6 billion in November, largely because of a soaring import bill. Pakistan signed a $7.6 billion loan agreement with the International Monetary Fund in November to stave off a balance of payments crisis. It received its first tranche of $3.1 billion that month. The next tranche of about $840 million is expected by the end of March.


Copyright Reuters, 2009



Need stressed for greater attention on scientific research
RECORDER REPORT
ISLAMABAD (March 13 2009)


Pakistani industry will have to give proper attention to modern and scientific research for making its products compatibles in the international market and earn wider market space round the globe, said Syed Asad Haider Mashhadi, President Rawalpindi Chamber of Commerce and Industry (RCCI) here on Thursday.

Co-ordination between industrial sector and research institutions is imperative to go through to the latest research and adopt the modern methods of production and quality management, Mashhadi said while addressing a seminar at RCCI on the topic of "Value Addition in Industrial Activity through Scientific and Technological Information".

The seminar was jointly organised by RCCI and Pakistan Scientific and Technological Information Center (PASTIC), a subsidiary department of Pakistan Science Foundation. Vice President of the Chamber Imtiaz Chaudhary, former President, S. M. Azim, Director PASTIC Mrs Nageen Ain-ud-Din and Chief Scientific Officer of Pakistan Science Foundation Dr Manzoor Hussain Soomro along with a large number of business community was also present on the occasion.

President RCCI said that the quality of the product has become an important factor of marketing that without it no one even might think to market his product and for acquiring international standard, continuous scientific research is extremely imperative.

"We can grow every kind of fruit and crop by virtue of best climatic conditions in the world. Moreover we have lot of potential in natural as well as human resources but despite these facts Pakistan has been facing the problems of unemployment, poverty and illiteracy. Only due to lack of scientific research, we could get benefit from our capabilities in befitting manner", he added.

He said that scientific research on modern lines should be adopted not only for the development of industry but also betterment of common man. It is the duty of industry to support research institutions as it is the only way to develop a strong base for industry in the country on permanent basis.

Mashhadi was of the view that although whole world is passing through a recession now days but this temporary slump period would be over and soon the business would be boom once again but co-operation of research groups and industry should never be stopped at any stage.

Director Pakistan Scientific and Technological Information Center (PASTIC), Nageen Ain-ud-Din briefed thoroughly about the history and performance of the organisation. She told the audience that on one hand PASTIC is providing technical support to the researchers and students in different fields to carry out their research work and on other many important strategic and defence departments as well as private sector is taking full advantage from the expertise of the centre.

She suggested that industrialists should take initiative to start project relating to research and development in their industry and Pakistan Scientific and Technological Information Center would extend maximum support for improving quality of their product. On the occasion Chief Scientific Officer of Pakistan Science Foundation Dr Manzoor Hussain Soomro said that PSF is working on indigenous technology and it can help the industry to make Pakistan self reliant.


Copyright Business Recorder, 2009



Crackdown to deteriorate economic situation

RECORDER REPORT
LAHORE (March 13 2009)



The ongoing crackdown against the political activists and unrest will further deteriorate the economic situation in the country thus the government should immediately stop creating harassment. The Business Action Forum Chairman Muhammad Ali Mian, in a statement, here on Thursday said the ongoing situation is not only sending a very wrong signal abroad.

While it is also discouraging the local businessmen who wanted to see the solution of crisis. He urged the government to restore judiciary to November 2, 2007 position in the larger interests of the country and end the Governors Rule in Punjab.

He said every citizen would have to play his or her due role, and should support real leadership to achieve real political and economic stability. "Our country is standing at crossroad and one road is taking us to disunity, misrule, injustice and economic mismanagement, while other path ensures real democracy, justice, unity and economic prosperity," he said. He said that the business community could feel on this stage that the economic prosperity would remain a dream without the political stability and real democracy.


Copyright Business Recorder, 2009
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Sindh urged to suspend inspection for labour levies


IQBAL MIRZA
KARACHI (March 16 2009)


Sindh Chief Minister has been requested to suspend inspections for labour levies as the industry, right now, is confronted with a host of problems. Industries are closing down, have become sick and are becoming hostage of cash flows resulting in reported non-servicing of even financial costs accrued on account of mark-up liabilities of the banks towards repayments on short term and long term financing.

Engr. M. A. Jabbar, Chairman, Site Association of Industry (SAI) has made these observations in a letter send to the Chief Minister of Sindh while drawing his attention towards the "crisis ridden industrial economy of Pakistan, which is also having adverse affect on the industries in SAI industrial trading estate."

Earlier during a meeting the Chief Minister was apprised of the multiple problems, which the industry is facing, ie, lack of infra-structure support, inefficient and interrupted supply of power and gas, law and order issues and high mark-ups are eroding the cost competitiveness of the domestic produce.

In the present situation the stringency of inspections on account of confirming the amount of labour levies in Sindh province may be out considered. This out consideration is for the simple reason that when the economy is not growing and industrial segment is growing with negative approach, jobs are lost and on the way to be further lost is a situation in which industry can not sustain the inspections related ascertaining of labour laws, he said.

In the letter it has been pointed out that the objectives are not served through present policy of inspection by labour department. The change in the present policy has been felt by the federal government, which has laid the task of formulating new labour inspection policy through research department of labour ministry.

This research also constitutes tri-partite discussions among stakeholders in which employers, employees and government are participating. The process is continuing to formulate new labour inspection policy to commensurate with the real supply side and meet the demand side of the policy, in conformance with the required improvements in the working environment and the labour-management relationship.

Engr. Jabbatr said that the present labour inspection policy is objective less. The targeted objects of inspections are to guide the industry to adhere to the requirement of safety of the worker according to the type of industry, in addition conduct education to the need for creating productive climate for increasing the production with the same capacity. The present policy is just a settlement of formal and informal cost compliance. The policy does not provide any services of guiding nature, helping composition, making available professionals to hold education as the tool for reducing the present constrained relationship between the labour and management.

Chairman SAI has suggested to the Chief Minister to suspend the inspections for at least one year, which is a turmoil year for the economy and in specific the issues confronting the industry which require it to spend more time in conservation, improving the efficiency and producing price competitive quality goods for home and overseas consumption.

In the end he requested the Chief Minister to order holding in abeyance/suspending the labour inspection till such time the pressure on industry is reduced or modalities of inspections are worked out on the basis of public-private joint inspection.


Copyright Business Recorder, 2009




Blockade of highways: export and import activities shrink alarmingly


MUHAMMAD ALI
KARACHI (March 16 2009)


The governments blockade of highways to foil lawyers attempt to march on Islamabad and stage sit-in on Constitutional Avenue for reinstatement of deposed judges caused billions of rupee losses to the national exchequer for all exports and imports activities scaled down during the last six days.

Long queues of containers of imported goods are waiting for transportation at Port Qasim and Karachi Port Trust (KPT) for last six days but hauliers are reluctant to transport these because of governments hostile maneuver.

Similarly, a large number of loaded and unloaded trucks, trailers are forcibly being used as road barriers by the law enforcers to block major highways aimed at containing lawyers convoys to reach Islamabad. When contacted President Karachi Goods Carriers Association (KGCA) , Noor Khan Niazi said that some 6000 trucks and trailers, containing goods for domestic consumption, exports, imports and raw material, have forcibly been detained to stymie the lawyers long march.

He said the loaded and unloaded vehicles have mostly been parked at Sukkar, Lodrah, Khanewal, Obaro, Parnawal, Rawaat and Texila. To a question, Niazi said that association has sent a complaint letter to Syed Qaim Ali Shah, chief minister, Sindh and has asked for intervention. But he said the provincial government has so far not responded positively hence transporters are reluctant to take goods to the Punjab.

He urged the government to provide security to the carriers in case of any untoward situation, saying that transporters are still deprived of getting compensation to their losses during December 27, 2008 pandemonium.

He expressed fear of commodity shortage and delay in the export consignments and added that the export shipments could be delayed, if impounded containers were not release. He said the country is passing through severe political and economic crisis, hence the association has called off its strike because it would further deepen the crisis.


Copyright Business Recorder, 2009




Rs 20 billion loss estimated due to long march in Multan


SARMAD MAHMUD
SIALKOT (March 16 2009)


Business activities have come to a standstill due to the recurrent public meetings, crackdown and lawyers rallies in this export-oriented and nucleus of cottage industry of the country, Multan. President Sialkot Chamber of Commerce and Industry (SCCI) Hassan Ali Bhatti said on Sunday that according to a rough estimate Multan has faced losses amounting to Rs 20 billion so far due to the long march and political tussle.

The exporters community of Sialkot despite various problems was struggling for fetching maximum foreign exchange for the country and we will continue the fight for strengthening the national exchequer, he further said. Sialkot which is known all over the world for exports of sports goods, surgical instruments, leather products, gloves of all sorts, sportswear, badges, musical instruments and martial uniforms and accessories through the city is earning one billion dollars, was suffering adversely due to the current upheaval in the country.

Bhatti added that business community particularly exporters of the area were facing multiple crisis due to the blockage of highways and seizing of containers loaded with exportable consignments which would delay the delivery of consignments at their ultimate destination.

SCCI President further said exporter community was making its hectic efforts for restoring the confidence of their annoyed foreign buyers because during past months exporters were unable to accomplish the foreign orders on time due to the prices of petroleum and load shedding of electricity and gas.

Hassan Bhatti said under the prevailing situation the exporters were paying 10 to 20 percent of the expenditures from its own packet for fulfilment of the international commitments, adding that how long the business community would spend from its pocket for handling foreign orders.


Copyright Business Recorder, 2009
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US, China and Japan pledge support for Friends of Pakistan moot


WASHINGTON
(March 22 2009)


The United States, China and Japan have vowed their support for next months Friends of Pakistan meeting in Tokyo, where major economic powers are expected to back the South Asian countrys economic development programmes.

In their separate meetings with Pakistans Ambassador to the United States Husain Haqqani, the chief Chinese and Japanese envoys based in Washington and top US officials expressed their willingness to shore up Pakistans initiatives for its speedy economic progress.

The meeting, taking place on April 17 in Tokyo, would be attended by leaders and representatives from several Asian and Western industrialised and oil-rich Gulf nations. Haqqani held meetings with the US State Department officials, Chinese Ambassador to US Zhou Wenzhong and Japanese Ambassador to US Ichiro Fujisaki to co-ordinate efforts towards a productive outcome of the conference.

In addition, the Pakistani diplomat had meetings with US Special Representative Richard Holbrooke and visiting Japanese Prime Ministers special envoy over the last week. The US diplomats have also been meeting separately with envoys of other countries toward the objective. US Secretary of State Hillary Clinton is expected to represent Washington at the meeting, which is likely to be chaired by President Asif Ali Zardari.

Top Pakistani democratic leaders, President Zardari and Prime Minister Yusaf Raza Gilani believe that international assistance will not only help meet economic development of the people but also serve as a bulwark against violent extremism afflicting its border regions. The economic stability of Pakistan - the frontline partner against violent extremism - is considered key to regional peace and stability.

Copyright Associated Press of Pakistan, 2009
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Businessmen urged to explore investment avenues in Egypt

ISLAMABAD (March 25 2009


Egyptian envoy to Pakistan Magdy Amer has urged Islamabad-based businessmen to explore avenue of investment in Egypt in the tourism, communications, Information technology, construction, manufacturing and transportation. He stated this during his visit to the offices of Islamabad Chambers of Commerce and Industry (ICCI) on Tuesday.

He said bilateral trade between Pakistan and Egypt in 2007-08 was around 200 million dollar which was much lower while the two countries had vast potential to increase it.

He said Egypts GDP grew at 7.5 percent during 2007-08 which shows its good economic potential. He said tourism, communications, information technology, construction, manufacturing and transportation were the fastest growing sectors of Egyptian economy and urged upon Pakistani entrepreneurs to explore these sectors for enhancing trade and investment relations.

He said corporate and personal tax rates in Egypt were competitive while Egypt was a window for entering European Union, USA, Arab world, Eastern and South African markets as it enjoyed preferential access to these countries.

He said this offers for Pakistani business community are great opportunity to get preferential access to these markets by investing and manufacturing in Egypt. Egyptian Ambassador said a Pak-Egypt Business Council was established in 2006 but its performance was not up to the mark and stressed upon the need of reactivating it. He said lack of information and reluctance on the part of businessmen of two countries were the main reasons of low level trade between the two countries while direct contacts between businessmen were essential to increase it.

He assured the business community of his full support and co-operation in their visa matters for prompt provision of business visas. He informed that Egypt will be hosting the second meeting of the Economic Working Group of the Asia Middle East Dialogue (AMED) from May 9 to 11 which would specifically benefit the private sectors of the AMED countries and invited Pakistani businessmen to participate in this event as it will provide them a good platform of interacting with their counterparts for exploring areas of common interest. Speaking on the occasion, Mian Shaukat Masud, President, ICCI said being two brotherly Islamic countries; Pakistan and Egypt have a lot in common. -PR


Copyright Business Recorder, 2009




Effluent treatment plants: industries awaiting Rs 276 million project
materialisation


AFTAB CHANNA
KARACHI (March 25 2009)


Due to the lethargic attitude of Sindh government and rapid change of faces at the helm in Karachi Water and Sewerage Board (KWSB), the Rs 276 million project of developing four combined effluent treatment plants (ETPs) in the citys industrial areas is far from execution.

As envisioned by former President, General Pervez Musharraf, the four plants were to be developed for the wastewater being generated from the industrial units in Site, Landhi, Korangi, Manghopir, FB Area and North Karachi.

However, official sources in provincial finance department said that the plan, which was to be completed in three years, could not be started due to lack of interest by the concerned authorities in KWSB and Sindh government, the executor and financier, respectively, of the project. To comply with the former Presidents orders, lately the KWSB had initiated a feasibility study in year 2007 and a consultancy agreement was signed with Osmani & Company (Pvt) Ltd on March 19, 2008 through a competitive bidding and selection procedure.

After the formation of new Pakistan Peoples Party (PPP)-led government and tussle over the control of the utility, KWSB new Managing Director Muhammad Suleman Chandio cancelled the consultancy services vide office order No MD/KW&SB/2008/78/ L dated 17 June 2008, sources said.

Based on the above general decision about all consultations of KWSB, the Chief Engineer (E&M) issued a conditional cancellation/ termination to Osmani & Co (Pvt) Ltd vide letter No KWSB/CE/ (E&M)S&STP/08/887 dated 25 June 2008, sources added.

Later, they said, the previous Managing Director KWSB was given a detailed presentation by the consultants on June 28, 2008 wherein he allowed restoration of consultancy services. However, due to change of the MD, the formalities for restoration could not be completed.

The officials said that on September 3, 2008, a meeting was held under the chairmanship of Additional Chief Secretary (Development) that decided to consider foreign consulting firm in association with the local firm due to large size of the project. Subsequent to this meeting, a Prime Ministers directive was also received for expediting the subject consultancy services being undertaken by Osmani & Company, they said.

In order to expediently complete the study as per Prime Ministers directive and for early start up of execution work, they said the KWSB decided to restore the consultancy contract with Osmani & Company. Sources said that for restoration of consultancy services and incorporation of additional services in consultancy agreement, an administrative and financial approval was obtained from Chairman KWSB on February 12, 2009 to avoid further delay in the project.

According to officials, the Sindh government would release total payment in four instalments ie Rs 50 million in 2008-09, Rs 100 million (20 million foreign funding) in 2009-10, Rs 80 million in 2010-11 and Rs 46 million in 2011-12. for the feasibility studies and the paper work of the project.


Copyright Business Recorder, 2009
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Repeated shake-up of bureaucracy affects work on uplift projects


HAMID WALEED
LAHORE (April 03 2009)


The major shake-up in the provincial bureaucracy and the repeated transfers and postings with the restoration of the provincial government of Shahbaz Sharif has further affected the pace of work on development projects in Punjab, on which work was already moving ahead with snails pace or in some case in cessation due to the recent-past transfers and postings made by Governor Punjab Salman Taseer following the province came under direct rule of centre.

Sources in the Planning & Development (P&D) department told Business Recorder that the department had become a shuttlecock between the rulers of the province, causing undue delays in development work across the province. The sources added further that development spending in the province had come to zero level, as no one was ready to release allocated funds on the fear that anyone from among the rulers might put screw on them up once they overcome their opponents politically.

"Speedy changes in the provincial bureaucracy has brought the development spending to a halt in the province," said the sources, adding, "Had the political system remained intact, the development situation in the province would have been different today." According to the sources, the development spending in the province was lurking around 24 per cent despite the lapse of three quarters of the current fiscal year.

The Punjab government had announced Rs 160 billion Annual Development Programme (ADP) for the current fiscal, out which only Rs 40 - 50 billion have been spent. It may be noted that the Chief Minister Punjab had slashed the development funds of MPs from Rs 80 million to Rs 40 million to avoid misappropriation of funds.

However, no major spending is made on this front as well despite the fact the 90 per cent of the allocations to all MPs have been released in the province. Sources in P&D department said that the Chief Minister Punjab was holding a review meeting of the spending by the provincial MPs very soon. Also, the Chief Minister will review the overall spending in the province in coming week.

It has been learnt on good authority that the P&D has changed its development strategy for next quarter and major spending is likely to be made in purchase of equipment in health, education and other social sectors. The P&D sources are expecting that the total spending would reach to around Rs 90 billion by the end of current fiscal, which means that the Punjab government would be able to spend about 50 per cent of the total allocation for the fiscal year.

Copyright Business Recorder, 2009



Fighting poverty in Pakistan key to Afghan security

TOKYO
(April 03 2009)


Stabilising Pakistans economy and fighting poverty there are key to combating the insurgency in neighbouring Afghanistan, a special adviser to Japans prime minister said ahead of a Pakistan donors conference this month.

"It has become much, much more clearly recognised that unless you can manage the tribal areas of Pakistan from where a lot of the Taliban is gaining strength, you cannot deal with Afghan security," Sadako Ogata, the special envoy for Japanese Prime Minister Taro Aso to the two countries, told Reuters in an interview on Thursday.

Ogata, who was high commissioner for the UN refugee agency from 1991 to 2000, said while various factors such as religion and politics have encouraged a Taliban insurgency, those struggling from poverty are the most vulnerable.

"The poor people having very little resources would be easily recruited to radical action," the 81-year-old envoy said. Nuclear-armed, and a hiding place for al Qaeda, Pakistan has become a foreign policy nightmare for the West. Pakistans leaders know al Qaeda is encouraging a Taliban insurgency in Pakistani tribal lands bordering Afghanistan as they seek to destabilise the Muslim nation of 170 million people.

Japan and the World Bank will host a Pakistan donors conference in Tokyo on April 17, which Pakistani President Asif Ali Zardari will be attending. Pakistan is hoping that the meeting of potential donors, including the United States, will yield billions of dollars in loans needed to pull the economy round. Ogata said she does not know the amount of the pledge that is being worked out.

A related gathering on the same day will also discuss political support for the South Asian country. Ogata, who now heads the Japan International Co-operation Agency (JICA), said Tokyos efforts for Afghanistan will continue to focus on socio-economic reconstruction and expressed doubts on the Japanese military playing a role on the ground there.

Japans pacifist constitution restricts its participation in military activities overseas and forbids the use of force to settle international disputes. There have been exceptions such as Iraq, Ogata said, where Japan has dispatched ground troops on a non-combat mission that ended in 2006, adding.

"But they were in a very secure area and secluded. Now I dont think thats the kind of operation that is possible in Afghanistan." Around 130 Japanese civilians, mostly from the embassy or JICA, are based in Afghanistan. Most Japanese non-governmental organisations (NGOs) have withdrawn after Taliban insurgents captured 23 South Korean church workers in Afghanistan in 2007.


Copyright Reuters, 2009
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By Annys Shin and Thomas Heath
Washington Post Staff Writers
Saturday, April 4, 2009

A year ago, the International Monetary Fund was in a funk. Its handling of past financial crises had made it deeply unpopular. Its finances were shaky. A fifth of the staff was looking to leave. Without new crises to address, doubts about its relevance grew even among insiders
As one veteran staffer put it, "It was a period of introspection."

The second-guessing ended in September as the global economic crisis took hold and countries again turned to the fund for advice and financial support. Its comeback became official this week when world leaders meeting in London pledged to quadruple its resources and strengthen its mandate.

"The IMF has suffered a slow deterioration in morale," said Simon Johnson, a former IMF chief economist. "The Asian crisis was traumatic . . . they lost a lot of confidence."

Staff reductions last year added to the humiliation and embarrassment, he said. "Now it's night and day."

The mood in the hallways "is one of invigoration," said a senior-level IMF official, who declined to be identified because he was not authorized to speak. "People are pretty busy and they are happy to be helping . . . so they feel validated."

The Fund, which has 2,370 employees, most based in Washington, has repositioned itself periodically since its creation after World War II. Its initial focus was to oversee the exchange rate system established under the Bretton Woods agreements. That role ended in the 1970s. In the 1980s, it emerged as the manager of the Latin American debt crisis. In the 1990s, it stepped in to deal with the Mexican and East Asian financial crises.

During this crisis, the IMF regained its stature partly by default. In the months leading up to this week's meeting of the Group of 20 industrialized and developing nations in London, British Prime Minister Gordon Brown talked of creating new international institutions. But in the end, the G-20 chose not to go through the trouble and chose to work with existing organizations.

Former and current IMF officials say the fund's leadership also deserves credit for actively seeking a more central role and for making changes that helped overcome some of the potential objections.

Last month, the IMF revamped its lending practices to make it easier for countries with strong economic policies to borrow more, faster and with fewer strings attached. The centerpiece is a new flexible line of credit designed to be used as a preventive measure.

IMF officials said the fund was trying to respond to long-standing criticism that the organization imposes conditions on developing nations that are too harsh and even harmful to their economies. The flexible credit line replaces a credit line created last fall that had no takers because countries said it offered too little money and too rigid terms.

In a small sign of success, Mexico recently said it would use the new credit line. But South Korea and Singapore still refuse to do so.

Domenico Lombardi, a former IMF official, said ignoring such concerns would have been a major misstep. "This crisis really originated within the advanced economies," he said. "Putting a heavy burden of conditions on emerging economies would add insult to injury."

The members of the G-20 said they would support an allocation of $250 billion in SDRs, a type of currency used only by the IMF that can be exchanged for hard currency. IMF members hold SDRs roughly in proportion to their size, and increasing the allocation would directly benefit developing countries that have been hit hard by the recession. Richer countries such as those in Western Europe can also lend their SDRs to countries that need help, such as those in Eastern and Central Europe.

The increase in lending resources reflects the scale of the needs created by the recession and signals a mounting workload at the IMF.

However, the fund was not given additional money for its operations, and some inside question whether, after staff reductions and a recent spike in retirements, the institution will soon become overburdened.

"We are now overstretched, and we probably went too far [with staff reductions last year]," said the senior IMF official. "We need the resources to help our membership."

The fund has stepped up recruiting. And the financial crisis has spurred interest. The total number of applicants for professional positions in the first quarter of 2009 exceeded that of the same period in 2007 and 2008, said spokeswoman Conny Lotze.
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Land for Gwadar airport: Balochistan government held responsible for raise in price


MUSHTAQ GHUMMAN
ISLAMABAD (April 30 2009)


The Ministry of Defence has held the Balochistan government responsible for 122 percent increase in the price of the land for New Gwadar International Airport (NGIA). The provincial government has also been accused of not only ignoring the directives of the Deputy Chairman Planning Commission, but also changing the basic data of calculating the average price of land.

The Planning Commission has been directed by the Executive Committee of the National Economic Council (Ecnec) to investigate the Civil Aviation Authority (CAA) act of spending Rs 1.5 billion to purchase land for an airport at Gwadar.

According to official documents available with Business Recorder, a fact-finding committee, comprising, Member (Implementation and Monitoring), Planning Commission, Additional Chief Secretary, Additional Secretary, Finance Division; Additional Secretary, Defence Division; Deputy Director General of Civil Aviation Authority, Senior Member of Board of Revenue, Balochistan; Joint Chief Economist (Projects), Planning Commission and Specialist PSDP, Planning Commission, has investigated the reasons behind the delay in the implementation of the project and increase in the cost of land.

A meeting of the fact-finding committee was held on October 28, 2008. The Additional Secretary, Finance was represented by DFA and ACS Development, whereas Balochistan government expressed its inability to attend the meeting on some unspecified grounds and had made a request for the postponement or reconvening of the meeting. The Deputy Director General, Civil Aviation Authority (CAA) was represented by the Director Planning CAA.

Acting Senior Member, Board of Revenue, Balochistan, Ghulam Rasul Hasni, however, visited the Planningg Commission on October 23, 2008. He was asked by the Member (I&M)/ED IMU to provide the break-up of land, procured for the CAA, owned by private owners and government land.

He, on subsequent telephonic conversation, revealed that all the land procured for the CAA was owned by the private landowners. The viewpoint of the Balochistan government was contained in a brief obtained from the Board of Revenue through the Chief Secretary Balochistan, which was circulated in the meeting. Member (I&M)/ED (IMU) stated that the fact-finding committee has been mandated to look into the reasons for the delay and the increase in the cost of land and the report of the committee would be submitted to the Ecnec for a final decision.

Additional Secretary, Defence , Major General Mir Haider Ali Khan stated that all the facts of the current issue involved in processing the case for the procurement of land for NGIA had been extensively debated upon in the past at various fora, including CDWP, Ecnec, Co-ordination and Implementation Committee (CIC) meetings.

According to the documents, meetings were also held between Deputy Chairman Planning Commission and Governor Balochistan. In addition, meetings have also been held in the Planning Commission office wherein representatives of all the concerned establishments were in attendance. The issues under debate were; (i) Readjustment of the location and reduction in size of the NGIA land and realignment of the proposed Coastal Highway towards the north; and (ii) Enhancement of the rate from the previously assessed figures.

Major General Haider had stated that the Ministry of Defence had all along opposed any increase in cost of land, as well as re-alignment of the proposed Coastal Highway, as it would result in major re-adjustment in the overall project - physically and financially - and had consistently stressed that approval/directions of Ecnec was required.

However, on repeated insistence of CIC constituted for integrated development of Gwadar, the matter was referred to the competent authority which reiterated the original decision, wherein no enhancement in the cost of land for NGIA and no re-alignment of the Coastal Highway were acceptable.

This was conveyed to the CIC accordingly but the stance of Ministry of Defence has not been properly recorded in CIC meetings, he added. "The acquisition of land has been deliberately delayed by the Balochistan government and instead of acceptance of the approved amount (Rs 1050 million) from the CAA, the Balochistan demanded additional funds based on increased rate," Additional Secretary continued.

He further revealed that subsequent to release of funds the issue regarding transfer of the funds was discussed by CIC on December 12, 2006 which decided that payment to land owners be made on the basis of market rate of December 6, 2006.

The proposal of increase in cost from Rs 157, 000 per acre to Rs 348, 140/ (122 percent) was discussed in a meeting held on June 2, 2007. It was chaired by the then Deputy Chairman and attended by Governor Balochistan, CAA Director General Military Land & Cantonment, QMG, GHQ, and DG log JSHQ.

The meeting had decided that "the federal government may consider additional amount from the PSDP 2007-08 and in the subsequent years for purchase of 4300 acres identified/earmarked for NGIA. Meanwhile, the Balochistan government should start making payment to the land owners from the amount already disbursed by the Defence Ministry." CAA on direction of CIC released Rs 1050 million to the Balochistan government on June 2, 2007 for the acquisition of land. This amount was not released earlier because the amount was under active consideration of CIC since 2006.

The federal government subsequently released Rs 453.744 million to Board of Revenue, Balochistan government on February 08, 2008 against a demand of Rs 447 million. Balochistan government handed over the physical possession of land to CCA on May 13, 2008 after completing all the formalities.

Additional Secretary Ministry of Defence subsequently dilated on the factors responsible for delay in the acquisition of land for NGIA. He stated that unit cost of land was obtained from MLC Quetta on 31st January, 2005 and this rate was conveyed to the Board of Revenue (BOR), Government of Balochistan by the CAA on 20th March 2006. CDWP accorded conditional approval on 20th May, 2006 and constituted a committee to verify the cost of land. Planning Commission allocated Rs 1050 million in PSDP 2005-2006 and conveyed this to Ministry of Defence on 29th April, 2006. The entire cost of land at Rs 1050 million was released on 27th June, 2006. However, Anticipatory Approval of the Chairman ECNEC was conveyed to M/o Defence on 30 June, 2006 and final approval on 30th November 2006. Administrative approval by M/o Defence was issued on 26th December 2006.

However, at this stage CIC was formed and the whole matter went before it for deliberations in its various meetings. The CIC, in its meeting held on 26 December, 2006, directed to fix the land price at the then prevailing rate as on 6 December, 2006 (when objection time of 30 days was over after application of Section-4 on 6 November, 2006). The matter was deliberated and every time demand for additional funds was received from the Balochistan government based on the inadequacy of the available resources. Subsequently, Planning Commission facilitated in securing approval of the government for financing the additional cost.

In the very first meeting of the CIC held on 12 December, 2006 enhancement of land price, realignment of coastal highway and shifting of airport site away from the selected location emerged, which was examined on technical grounds and CIC was informed that approach and landing angle cannot be realigned, while land side area mainly comprising the terminal building and allied facilities, can be realigned/redesigned.

The documents further reveal that Additional Secretary Defence categorically referred to acceptance of shifting the earmarked area towards north by the QMG in one of the meetings, which was in the greater national interest since the airport and economic zone deserved the highest priority. Deputy Chairman, Planning Commission directed Balochistan government to hand over the land by 15 November 2007, which was not honoured and the CAA received possession of land on 13 May, 2008 after lapse of 11 months, despite the receipt of the entire cost by the Balochistan government.

He was also of the view that the decisions taken by CDWP and Ecnec were not implemented as approved because the issues of land price and alignment were reviewed by the CIC and referred back to the competent authority with amended proposals. These were subsequently approved, as explained above, and only then was the process moved forward. This has been the actual cause of delay of the project.

According to the Defence Ministry, repeated demands by the Balochistan government to reduce size, re-adjust location, and enhance price of the NGIA land, were the major factors. Deliberation by the CIC to have the Ecnec decision reviewed, which took time, was an inherent subsidiary factor.

Even when the project was realigned and the additional cost of land made available, Balochistan government took 11 months to acquire land and hand over possession of the land after receipt of the entire funds, the Defence Ministry further argued. It is not known when the Planning Commission would submit the investigation report to the Ecnec, which is to be finalised before the convening of the meeting.


Copyright Business Recorder, 2009




Promotion of exports: ministry selects 10 officers for appointment abroad

MUSHTAQ GHUMMAN
ISLAMABAD (April 30 2009


Commerce Ministry has selected ten officers of District Management Group(DMG), Commerce and Trade (C&T) and one ex-cadre (Economist) to be appointed abroad to promote Pakistani exports, out of which more than half are, allegedly, 'Parchi Holders' of influential politicians.

The selected officers are: Dr Yousaf Junaid, Counsul General Istanbul(Turkey), Zafar Hasan Counsul General Shanghai (China), Naeem Anwar, Trade Minister New Delhi (India), Eazaz Aslam Dar Commercial Counsellor Los Angles(USA), Hasan M Yousafzai, Frankfurt (Germany) Syed Tajjamal Hussain Sao Palo (Brazil), Saifuddin Junejo, Chengdu (China) Wajihullah Kundi, Kuala Lumpur (Malaysia) Ms Aisha Makhdum Warsaw(Poland) and Muneza Majeed, Jakarta (Indonesia).

However, allegedly, a 'favoured official' of Minister for Information and Broadcasting, Qamar Zaman Kaira and one of the Deputy Inspector General (DIG) Police based in Sindh were not included in the final list.

One of the selected officials, ie, Naeem Anwar was recently promoted to grade 20 and posted as Secretary National Tariff Commission(NTC) despite the fact that one of the other contenders for this slot, Muhammad Shahid, was better qualified. The chairman of the interview committee, former Secretary Asif Shah was reportedly pressurised to recommend Naeem Anwar as Secretary NTC, said one of the top officials of Commerce Ministry on condition of anonymity. The other two officers,ie, Saifuddin Junejo and Zafar Hussain are reportedly the 'favorities' of Roshan Junejo and Munir Orakzai.

Officials in the Commerce Ministry termed the selection procedure of Commercial Counsellors, Trade Ministers and Counsul Generals and Commercial officers as a complete 'eye wash' as all those selected officials have obvious political affiliations. According to the selection procedure 'on paper' all the interested candidates are required to appear in a written test at Lahore University of Management Sciences (LUMS). Those officials who cleared the test are invited for interviews, after which a summary is sent to the Prime Minister who is the final authority to include or exclude any name from the list sent by the Commerce Ministry.

"The entire process is a fraud. Only those officials are selected who are recommended by those who are influential," said an officer of C&T who closely observes the 'selection' every year. After the selection, getting the more 'attractive' station becomes the focus of the winning candidates. Normally, India, United Arab Emirates, USA, UK, France, Germany, Australia and Canada are the favourite stations. The officers of Commerce and Trade Group are of the view that the DMG group are not well versed in trade or its promotion, therefore they should not be given these posts. In the past, top stations were allocated to those officers who were close to the Commerce Minister and the same practice appears to be in vogue, so lamented an officer on condition of anonymity.


Copyright Business Recorder, 2009



IDA to provide $250 million for poverty alleviation project


RECORDER REPORT

FAISALABAD (April 30 2009)


International Development Agency (IDA) will provide $250 million for 'Third Pakistan Poverty Alleviation Fund Project' to empower the targeted rural poor people that would help them achieve respectable livelihoods.

According to 'Integrated Safeguards Datasheet', this project will be achieved by increasing number of organisations and inclusion of the rural poor, including women and ultra poor households, in community organisations and their enhanced participation in economic activities, skill enhancement for taking-up higher value employment, and increased income through an increased asset base, improved infrastructure and market linkages.

Environmental and Social Safeguards Specialists of World Bank, Ms Zia Al Jalaly, Mohammad Omar Khalid said that the proposed PPAF III project builds on eight years of PPAF experience and aims to improve poverty outcomes through consolidation and a saturation approach in targeted areas with a stronger focus on the marginalised groups of the most vulnerable and poorest households including women, and through integrated approaches to livelihood enhancement that learn from other programs in Pakistan and South Asia.

The PPAF III project would also strengthen its approach to building inclusive institutions of the poor and improving their access to markets and local government. The approach of PPAF III to credit would be to facilitate outreach, improve capacity and build access to (rather than primarily provide) micro-credit, they added.

WB experts stated that the project comprises of five components, including Social mobilisation and institution building and, livelihoods enhancement and protection, Micro-credit access, Basic services & infrastructure and Project implementation support. For 'Social Mobilisation and Institution Building', IDA will provide $50 million to target and empower the poor by supporting their organisation into three tiers namely the COs and aggregation at a higher village institution and Union Council level, to build voice and scale for an effective interface with local government bodies, other development programs and markets.

PPAF's partner organisations will be entrusted with the task of intensifying their coverage within the Union Council and strengthen new and existing community institutions, WB experts mentioned.

For 'Livelihood enhancement and protection', WB experts disclosed that an amount of $62 million will be spent. The objective of this component is to develop the capacity, opportunities, assets and productivity of community members to reduce their vulnerability to shocks, improve their livelihood and strengthen their business operations. IDA will provide $50 million for Micro-credit access to improve availability and access of the poor strata of the society to micro-finance to enhance their capacities, productivity and returns from livelihood initiatives. In most areas, the intention would be to improve access to existing micro-finance (both PPAF financed and other sources).

For 'Basic Services and Infrastructure', they pointed out that about $80.0 million will be provided to establish and upgrade basic services and community infrastructure to serve the poor ($50m), and to improve health and education facilities ($30m). WB experts pointed out that an amount $5 million allocated for Project Implementation Support, which will facilitate various governance, implementation, co-ordination, monitoring & evaluation, learning and quality enhancement efforts in the project.

It will consist of the following four sub-components, including governance management, project management, monitoring and evaluation and capacity building for institutional development.

The project will be implemented throughout the country. PPAF is an apex organisation that has a strong outreach at the community and village levels in 112 districts of the country. Through a network of 70 partner Organisations (POs) they have organised over 92,000 community organisations in 32,000 villages/rural and urban settlements in 112 (of the 114) districts of the country.

According to 'Integrated Safeguards Datasheet', the various development activities such as microcredit, infrastructure, education and health, skill training are executed through the Partner organisations with field offices around the country.


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