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FM DAR, MUTTAQI AGREE TO FOSTER FRATERNAL TIES BETWEEN PAKISTAN, AFGHANISTAN
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Sunday, 17 March, 2024 I 6 Ramazan, 1445
BOTH SIDES EMPHASISE BRINGING FACILITIES FOR COMMERCIAL TRAFFIC ON BORDER
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Rs 20.00 | Vol XIV No 259 I 8 Pages I Islamabad Edition
AFGHAN FM HOPES DAR’S PRESENCE WOULD HAVE A ‘POSITIVE, CONSTRUCTIVE’ ROLE IN STRENGTHENING BILATERAL RELATIONS
STAFF REPORT
OREIGN Minister Ishaq Dar and Afghanistan’s Interim Foreign Minister Amir Khan Muttaqi on Saturday agreed to continue working together in building on fraternal bilateral relations. “Expanding cooperation in connectivity, trade, security, counter-terrorism and people-topeople contacts is a top priority for Pakistan,” the foreign minister posted on X, after he received a congratulatory call from the Afghan minister. A statement posted on X by the deputy spokesperson at the Afghan foreign ministry, Hafiz Zia Ahmad, said FM Muttaqi hoped that Dar’s assumption of office would have a “positive and constructive role in strengthening the relations” between the two neighbouring countries. “The region is increasing its positive interactions day by day and the practical work of major infrastructure projects is starting at the regional level and we are expecting to take a constructive part in Pakistan,” the statement quoted the Afghan foreign minister as saying. He also
invited Dar to visit Afghanistan. The statement said that both sides emphasised bringing facilities for passengers, patients
and commercial traffic on the Pak, Afghan border and eliminating existing problems. The past week, Kandahar Governor Mullah
Muhammad Shirin Akhund received Pakistan’s Chargé d’Affaires (Cd’A) and head of mission in Kabul, Ubaid ur Rehman Nizamani, in Kandahar, the spiritual centre of the Afghan Taliban on Monday. The Pakistani envoy travelled to Kandahar to meet with Mullah Shirin, a close confidant of the Taliban supreme leader, amid a tense relationship between the two uneasy neighbours. The senior Afghan Taliban leader had expressed the hope that Pakistan’s new government would have cordial relations with Kabul. “We discussed matters of common interest and agreed to advance Pakistan-Afghanistan relations in all mutually beneficial areas,” Ambassador Nizamani had told media. Last week, Pakistan’s Ambassador to the UN, Munir Akram, had asked the United Nations Security Council to urge the Taliban rulers in Afghanistan to terminate their relationship with the banned militant Tehreek-i-Taliban Pakistan group. At the same time, Ambassador Akram had said that the international community must help millions of destitute Afghans “through the provision of unconditional humanitarian assistance”.
Lt-Colonel, Captain among seven jawans embrace martyrdom in Mir Ali attack RAWALPINDI
STAFF REPORT
Saudi Crown Prince felicitates PM Shehbaz ISLAMABAD
STAFF REPORT
Prime Minister Muhammad Shehbaz Sharif received a congratulatory telephone call from His Royal Highness Prince Mohammed bin Salman bin Abdul Aziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia earlier Saturday. The Crown Prince congratulated the Prime Minister on his re-election. The Prime Minister thanked His Royal Highness for the telephone call as well as the warm message of greetings he had sent immediately after the Prime Minister had assumed office. The Prime Minister also conveyed his sincerest wishes and prayers for the health and well-being of the Custodian of the Two Holy Mosques, His Majesty King Salman bin Abdul Aziz. He said the people of Pakistan had great love and respect for His Majesty as well as the Crown Prince. He also wished a blessed month of Ramadan to the Saudi leadership as well as the Saudi people and prayed that this holy month would bring peace and prosperity to Muslims all over the world. The Prime Minister said Pakistan was proud of its historic, deep-rooted and fraternal ties with Saudi Arabia and the two countries had always stood together through thick and thin. He lauded Saudi Arabia for its unwavering commitment and support to Pakistan. The Prime Minister reiterated his invitation to the Crown Prince to undertake an official visit to Pakistan at his earliest convenience and said the people of Pakistan were waiting to accord a very warm welcome to His Royal Highness. The Crown Prince thanked the Prime Minister for his kind sentiments. He said both countries enjoyed close brotherly relations and reaffirmed Saudi Arabia’s support for Pakistan.
A lieutenant colonel and captain were among seven soldiers martyred in a terrorist attack in North Waziristan’s Mir Ali, the Inter-Services Public Relations (ISPR) stated on Saturday. At least six terrorists were also killed in the attack. As per the ISPR, troops foiled the initial attempt of intrusion into the army installation in the wee hours of the day however, a group of six terrorists rammed an explosivesladen vehicle into it, later carrying out multiple suicide bombings. The attacks led to the collapse of a portion of a building, resulting in the martyrdom of five brave soldiers. The martyred soldiers included Havildar Sabir, a resident
of district Khyber; Naik Khurshid, a resident of district Lakki Marwat; Sepoy Nasir, a resident of Peshawar; Sepoy Raja, a resident of Kohat; and Sepoy Saj-
jad, a resident of Abbotabad. During the ensuing clearance operation, the Pak army troops led by Lieutenant Colonel Syed Kashif Ali, en-
gaged and gunned down all the six terrorists. However, 39-yearold Lt. Col Ali, a resident of Karachi, and 23-year-old Captain Muhammad Ahmed Badar, a resident of Talagang, embraced martyrdom. The ISPR reported that the troops were engaged in a “sanitization operation” to eliminate any other terrorists present in the area. The “security forces of Pakistan are determined to wipe out the menace of terrorism from the country and such sacrifices of our brave soldiers further strengthen our resolve,” the authority noted in its statement. The funeral prayers for the martyrs took place in Bannu Cantt later in the evening. According to the ISPR, the martyrs will receive full military honours during their burial in their respective native towns.
MPC set to meet on Monday. With inflation still lurking, will SBP fall to temptation of a rate cut? g
PROFIT PRESENTS BOTH ARGUMENTS FOR AND AGAINST A RATE CUT PROFIT
MARIAM UMAR FAROOQ
The policy rate debate has again intensified in the business and economic circles of the country as the State Bank of Pakistan (SBP) is set to meet for the second monetary policy meeting of the calendar year
2024 on Monday, March 18, 2024. The SBP raised the policy rate to 22% in an emergency meeting back in June 2023 in a knee-jerk reaction to prevent a sovereign default by securing a short-term International Monetary Fund (IMF) agreement. Since then, SBP has maintained the policy rate at 22%.
In January, the SBP held on to the current rate due to augmented inflation expectations driven by high energy prices. However, non-energy inflation continued to decrease. Yet, the SBP governor reaffirmed that the real interest rate remained significantly positive on a 12-month forwardlooking basis, given the anticipation of a continued downward trajectory in inflation. Simultaneously, the SBP raised the average inflation forecast for the fiscal year 2024 to 23%-25% from the previous projection of 20%-22%, due to the impact of energy prices. Now these conflicting trends have had analysts divided on whether the central bank will opt for a rate cut or not with the majority believing that SBP will once again maintain the status quo. Reason in favour of rate cut “Headline inflation has begun to taper off, primarily due to the high base effect, alongside a month-on-month decline in food basket prices and a stable domestic currency.
Day after meeting PM, US ambassador calls on NA Speaker
ISLAMABAD STAFF REPORT
US Ambassador to Pakistan Donald Blome called on National Assembly Speaker Ayaz Sadiq on Saturday at the Parliament House. The discussion focused on bilateral relations and other matters of mutual interest. Blome congratulated Ayaz on his appointment as speaker and expressed his best wishes. Yesterday, US Ambassador Donald Blome met with Prime Minister Shehbaz Sharif to discuss a broad range of bilateral issues, express US support for Pakistan’s democracy and the key role of an independent press. In a statement issued here, Acting US Mission Spokesperson Thomas Montgomery said that Blome and Shehbaz discussed various issues including partnering with the government of Pakistan on regional security, US support for continued economic reforms with and through the IMF, trade and investment, education, climate change, and private sector-led economic growth. During meeting at Parliament House, NA Speaker Ayaz Sadiq said Pakistan gives great importance to the longstanding friendly relations with the United States. The two acknowledged the need to further promote parliamentary relations between both countries and that these terms play a crucial role in promoting public relations. The US envoy reiterated America’s commitment to continue its support for the strengthening of the democratic process in Pakistan.
Govt acquiring land for proposed solar power plant in Muzaffargarh. But will investors bite this time?
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NTDC ACQUIRES 2553 ACRES OF LAND FOR CONSTRUCTION OF 600 MW SOLAR POWER PROJECT PROFIT
AHMAD AHMADANI
The federal government has acquired over 2500 acres of land in Muzaffargarh with the purpose of constructing a 600 MW solar power plant that was initiated by Prime Minister Shehbaz Sharif during his last term in office. The plan for the 600-megawatt project was made by the previous Shehbaz Sharif administration as part of a larger effort to produce up to 6,000 MW of energy through solar power. But in the months since the government has failed to receive any bids for the project up until January 2024 when it made its fifth attempt to find a bidder. This ambitious project was supposed to
be the first of its kind in the country, a landmark achievement in the acquisition of renewable energy through international competitive bidding (ICB). The project was aligned with the long-term Indicative Generation Capacity Expansion Plan (IGCEP) — roadmap for the future of energy in Pakistan. The government had tried everything in its power to attract potential bidders, from multiple rounds of bidding to revisions in incentives, all under the already approved Framework Guidelines for Fast-Track Solar PV Initiatives 2022. The initial deadline for the bids was set for April 2023, which was subsequently extended to May. Following the initial disappointment, the RFP was once again floated
in September, with the project being showcased in Dubai as part of an international roadshow in October — the 30th of October was also the cut-off date for the bids. Yet, the outcome was the same — no bids. Undeterred, the Private Power and Infrastructure Board (PPIB), the entity tasked with overseeing the bidding for the project, extended the deadline for bids to December 11. The PPIB then further stretched the deadline to January 11; however, this date too has passed without the Government securing a single bid for the project. Despite this, the NTDC is continuing to acquire land as part of the government’s efforts to encourage investors to put their money into the project. As per details, National Transmission
and Despatch Company Limited (NTDC) has successfully acquired and taken possession of 2553 acres, 06 Kanals and 09 Marla
land for the construction of 600 MW Solar Power Project in Tehsil Chowk Sarwar Shaheed of District Muzaffargarh.