saturday, 31 december, 2022 i 7 Jamadi us sani, 1444 i rs 15.00 | Vol Xiii no 182 i 12 Pages i islamabad edition
NSC vowS to reSpoNd to terroriStS ‘with full forCe’ g
SENIOR CIVIL, MILITARy LEADERS BRIEFED ON ECONOMIC AS WELL AS SECURITy CHALLENGES
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COMMITTEE MEETING TO CONTINUE ON JAN 2, TO FURTHER DECISIONS IN LIGHT OF PROPOSALS
Balochistan Wheels extends plant shutdown to 26 days g
COMPANy ExTENDS DECISION TO HALT PRODUCTION IN RESPONSE TO REDUCED DEMAND By AUTO MANUFACTURERS profit report dAniyAl AhmAd
iSLAMABAD
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stAff report
ENIOR civilian and military leaders on Friday reiterated the resolve to respond “with full force” to those who challenge the country while terming “terrorists the enemies of Pakistan” – at the meeting of National Security Committee (NSC) – the highest decision-making forum on foreign policy and national security. According to a statement issued by the Prime Minister’s Office (PMO) after the moot, Prime Minister Shehbaz Sharif chaired the NSC meeting, which reviewed the country’s economic and security situation with special focus on recent spate of terrorist attacks. The federal ministers, service chiefs and heads of intelligence agencies attended the meeting. Finance Minister Ishaq Dar briefed the participants about the economic situation and challenges of the country and briefed the participants about the economic strategy and the measures adopted by the government. During the meeting, the heads of intelligence institutions gave a detailed briefing to the participants on the law and order situation in the country, the recent wave of terrorism, and steps to tackle it. “Minister of State for Foreign Affairs Hina Rab-
bani Khar briefed the meeting on the situation in Afghanistan and Pakistan’s relationship with the interim government in Kabul.” “We are in trouble but not defaulting,” said a participant of the meeting of NSC. The participant confirmed that the NSC was given briefing on terrorism, economy and Afghanistan. This was the first meeting of the NSC since the change of army command and came at a time when Pakistan is facing multiple challenges including dwindling foreign reserves and the resurgence of banned Tehreek-e-Taliban Pakistan (TTP). The PMO statement reads that participants of the meeting expressed an “unequivocal opinion” that Pakistan’s national interests would not be compromised and no one would be allowed to harm the country’s national security. “The basic interests of Pakistan’s survival, security, and development will be protected with great courage, consistency, and steadfastness.” The participants also paid tribute to the sacrifices of the martyrs against terrorism, expressed sympathy and condolence to their families, and collectively prayed for the elevation of the ranks of the martyrs. “The meeting expressed determination that terrorists are enemies of Pakistan. The entire nation is united on one narrative against terrorism and terrorists. Those who challenge Pakistan will get a full-force response,” the statement asserted.
It added that the NSC meeting will continue on Monday, January 2, in which further decisions will be taken in light of the proposals. According to sources, decision to convene the NSC meeting was taken in a meeting between PM Shehbaz and Chief of Army Staff Gen Asim Munir held on Thursday. The meeting between the two took place a day after the corps commanders’ conference at the General Headquarters where the surge in terrorism incidents dominated the agenda. ALArminG rise in terrOr incidents: Over the past few months, the law and order situation in the country has worsened, with terrorist groups like the outlawed Tehreek-i-Taliban Pakistan (TTP), the Islamic State group, and Gul Bahadur Group carrying out attacks. On the other hand, insurgents in Balochistan have also stepped up subversive activities and formalised a nexus with the TTP. The incident at Khyberpakhtunkhwa Police’s Counter-Terrorism Department interrogation centre in Bannu and the botched suicide bombing attempt in Islamabad not only set off alarm bells in the power corridors but also left several countries worried about the security of their nationals. The US, UK, Australia and Saudi Arabia have issued advisories, asking their nationals to restrict movements in Pakistan and avoid non-essential trips.
Baluchistan Wheels Limited has notified the Pakistan Stock Exchange that it will extend its plant shutdown till January 6, 2023. The company will have cumulatively observed 26 calendar days as non-production days (NPDs) from December to January. Baluchistan Wheels is a manufacturer of steel disc wheels for automobiles based out of Hub, Balochistan. The company’s clientele includes both domestic and international passenger cars, commercial vehicles, and tractor OEMS. The company had initially publicly conveyed that it would observe NPDs from December 12 to December 23. This halt in production was then extended December 30, and now finally till January 6. Profit had previously asked Muhammad Asad Saeed, Company Secretary of Baluchistan Wheels Limited, about the reasoning for the decision to which he responded that it was purely to the “depressed demand in the automotive sector”. The decision of NDPs seems like the logical consequence of the current demand destruction that’s occurred in Pakistan’s automotive industry. The current five month Fy 2022-23 volume stands at a total of 601,971 units which is a 31.52% yoy decrease from the 879,401 units sold in Fy 2021-22 based on the figures released by the Pakistan Automotive Manufacturers Association. The decision comes the week of Suzuki announcing their NPDs for January, two weeks after Toyota’s decision to cease operations for the remainder of December, and three weeks after Millat Tractors’ decision to observe Friday as an NPD in perpetuity.
Govt likely to keep POL prices unchanged for first half of January profit report AhmAd AhmAdAni
The government will sit and wait for at least the first half of January before announcing any change in the prices of petrol and high-speed diesel (HSD). According to sources in the oil industry, so far very nominal reduction in petrol and HSD price has been calculated on the basis of existing rate of petroleum levy (PL), General Sales Tax (GST), Inland Freight Equalization Margin (IFEM). And, the federal government is likely to announce no change in petrol and diesel prices for the first half of January 2023. “Based at existing rates of PL, GST and IFEM margin, 40 to 45 pasia reduction in petrol and 90 to 93 paisa in HSD price has been calculated with effect from January 1, 2023,” said sources, adding that the price of petrol and diesel (HSD) will go up if the government increases PL to meet the condition of IMF. At present, the expected claim exchange loss of Pakistan State Oil
(PSO) is Rs 3.50 per litre on HSD and Rs 5.50 per litre on petrol. However, as per sources, the price of kerosene oil (SKO) is likely to increase by Rs 6.73 per litre and Rs 4.08 per litre raise in light diesel oil (LDO) while if the government decides to raise the price, the price of SKO will witness a hike from Rs 171.83 to Rs 178.50 per litre and price of LDO will also be increased from Rs 169 to Rs 173 per litre. The exchange rate of rupee against US dollar increased by Rs 1.11 from Rs 224.51 to Rs 225.62, the sources added. Meanwhile, the Oil and Gas Regulator y Authority (OGRA) has issued a notification of decrease in Liquefied Petroleum Gas (LPG) price by Rs 12 per kilogram for the next month of January 2023. And, with the effect of OGRA’s notification of cut in LPG price, the price of domestic cylinder has been reduced by Rs 137 and commercial cylinder by Rs 527 for Januar y 2023. According to OGRA notification, LPG will be available in open market at Rs 204 per kilogram and domes-
tic cylinder to be available at Rs 2411 while commercial cylinder at Rs 9278 during January 2023.
Irfan Khokhar, Chairman LPG Industries Association claimed that they can provide LPG at a cheaper
rate to countrymen than to sui gas rate if the government facilitates the LPG industry as it is currently facilitating the Liquefied Natural Gas (LNG) industry. He further demanded from the government to allow the LPG plant of Jamshoro Joint Venture Limited (JJVL) to start LPG production to provide cheaper gas to the citizens of the country during the ongoing cold weather season and to avoid further losses to the national exchequer. He said the government should devise LPG import policy to bridge the natural gas shortfall. The government must stop factories of Gujranwala which are producing substandard LPG cylinders and take strict action against all those which are involved in the sale of substandard LPG cylinders in the countr y, said Irfan Khokhar, Chairman LPG Industries Association. It is pertinent to mention that previously the LPG was available at Rs 216 per kilogram and domestic cylinder was available at Rs 2548 while commercial cylinder at Rs 9804 in December 2022.