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PM SETS AMBITIOUS $60B EXPORT TARGET FOR NEXT THREE YEARS Wednesday, 24 July, 2024 I | 17 Muharram, 1446
TASKS MINISTRY OF COMMERCE AND OTHER RELEVANT DEPARTMENTS TO EXPEDITE NECESSARY MEASURES TO ACHIEVE TARGET
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DIRECTS DELIVERY TIME OF PAKISTANI GOODS TO EUROPE AND AMERICA SHOULD BE REDUCED
STAFF REPORT
RIME Minister Shehbaz Sharif on Tuesday set a $60 billion target for Pakistan’s exports and tasked the commerce ministry and other relevant departments to expedite necessary measures to achieve this target within the next three years. Chaired a meeting of the National Export Development Board (NEDB), the prime minister asked the Ministry of Commerce to resolve the issues pointed out by the exporters and present a report within two weeks. He said that he would personally chair the National Export Development Board meeting every one-and-half months. Prime Minister Shehbaz asked the commerce ministry to finalise the policy proposals, in coordination with representatives of the potential export sectors. He also tasked the Ministry of National Food Security to improve extension services, in coordination with provinces, to enhance agricultural exports. He instructed for exporting of quality seeds and agricultural products after further processing and taking measures to introduce crop varieties with high yields. He said that the delivery time of Pak-
istani goods to Europe and America should be reduced by solving the problems related to the shipping of exports immediately. Similarly, the Commerce Ministry and the Board of Investment should ensure cooperation regarding the transfer of Chinese export industries to Pakistan. The prime minister said that the country’s exports crossed the $30 billion mark during the previous fiscal year, and the government’s policies also took the IT exports to over $3.2 billion. He also called for carrying out research and development, innovation and brand development to increase the ex-
Following in coalition partner, PPP moves SC seeking review of reserved seats verdict
port of Pakistani goods. The prime minister warned against any delay by the Federal Board of Revenue in refunds to the exporters, besides emphasising the trade officers in Pakistan’s missions abroad to promote Pakistan’s exports and guide the exporters. He tasked the Power Division to present a comprehensive plan to provide low-cost electricity to the industries. Calling for collective efforts for the country’s development, he paid tribute to the business community and investors for their role in increasing exports despite tough circumstances.
Highlighting the crucial role of the private sector in national development, he called for the sector’s inclusion in the policymaking process. The representatives of the export sector appreciated the prime minister for his frequent meetings to resolve their problems and called his keen interest in the export sector “very encouraging”. They also appreciated the prime minister’s initiative to ensure timely refunds by the FBR to the export industry The meeting was briefed about the steps taken for the uplift of the export sector. It was told that the country’s exports crossed the $30 billion mark this year and a five-year plan to double the exports was also presented in the meeting. Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Jam Kamal Khan, Ahad Khan Cheema, Qaiser Ahmed Sheikh, Abdul Aleem Khan, Ahsan Iqbal, Rana Tanveer Hussain, Muhammad Aurangzeb, Sardar Awais Leghari and Dr Musaddiq Malik, Ministers of State Ali Pervaiz Malik and Shaza Fatima Khwaja, Deputy Chairman of Planning Commission Jahanzaib Khan, State Bank Governor, PM’s Coordinator Rana Ehsan Afzal, relevant FBR officers and representatives of textiles, IT, leather, agriculture and other sectors attended the meeting.
Ex-DG ISI provided evidence linking Imran to May 9 riots: Vawda
ISLAMABAD
STAFF REPORT
Following in the footsteps of its coalition partner PMLN, the PPP on Tuesday also filed a review petition against the Supreme Court’s verdict on the reserved seats case. In the petition, filed through Advocate Farooq Naek, the PPP contends that the court’s short order following the verdict failed to address the key controversy: whether the SIC should be allocated the reserved seats or if independent candidates could join a party that did not win any general seats in the Parliament. The petition further questioned whether reserved seats could be granted to a political party whose candidates had not even filed nomination papers within the timeframe provided in the election schedule. “By carving out a procedure which is not provided under the Constitution, the order under review might have gone into the realm of creating and not just interpreting the Constitution which is against the long-standing jurisprudence of this Honourable Court”, the petition stated. “It has been stated innumerable times by this Court that the function of the Court is interpretation, not legislation.” On July 12, the apex court, in a landmark ruling, had declared the PTI eligible for seats reserved for women and minorities, dealing a major blow to Prime Minister Shehbaz Sharif’s ruling alliance. The verdict means that the PTI is poised to become the single largest party in the National Assembly. The court had given its verdict after hearing a set of appeals moved by the Sunni Ittehad Council (SIC) against the denial of the reserved seats to it by the Peshawar High Court (PHC) and the Election Commission of Pakistan (ECP). PTI-backed candidates, who had contested and won the February 8 elections as independents after their party was stripped of its election symbol, had joined the SIC to form a coalition of convenience. The SC annulled the PHC’s decision and declared the election regulator’s ruling null and void, citing it as unconstitutional. The petition argued that the issue of granting the reserved seats to PTI “was not even in the pleadings of the SIC”, and therefore could not be granted by the SC. It further said that the 15-day grace period given to the 41 independent candidates to join a political party was in “stark contradiction” to the Constitution. “PTI neither filed any case before the ECP, nor before Peshawar High Court, nor before the Supreme Court, hence, it is not entitled to any relief, let alone a relief which was not even pleaded,” the petition argued.
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ISLAMABAD STAFF REPORT
Senator Faisal Vawda on Tuesday accused PTI founder Imran Khan of being responsible for prevailing political instability, claiming that former DG Inter-Services Intelligence Lt-Gen (r) Faiz Hameed had provided tangle evidence, linking Khan to vandalism and riots on May 9. “I cannot champion law and democracy when multiple cases are pending against me in courts. Some time ago, I revealed that Imran Khan’s close associate, Faiz Hameed, provided evidence of Khan’s involvement in the May 9 vandalism,” revealed Vawda during an interview with a private TV channel. To a question if Faiz Hameed had advised the protest at GHQ on May 9, the ex-minister clarified, “This was not Faiz Hameed’s suggestion, rather Imran Khan was part of the entire scheme.” Vawda claimed that Imran had admitted to directing his supporters to march towards GHQ, elaborating that parties like PML-N, PPP, JUI-F, and MQM-P had also clashed with the establishment in the past but eventually sat down for negotiations. Vawda expressed that the government does not face threats from a technocrat government or martial law, but rather from the ongoing power struggle within the PML-N.
He added that the IMF had reached a deal with the finance minister, but the decision regarding reserved seats would not be implemented. In an interview with a private TV channel, Vawda questioned the origin of discussions about a con-
stitutional breakdown. “It would be better if ministers admitted their incompetence; the nation would respect them more. PML-N should resolve its internal conflicts and not drag the country into political instability,” he said. Vawda highlighted positive economic indicators, noting that the interest rate had decreased, implying reduced inflation. He suggested renegotiating electricity agreements with IPPs, stating, “These political parties were responsible for the agreements that ensure payments to IPPs regardless of power supply. Such contracts involve kickbacks. The decision on reserved seats will not be implemented, with the Election Commission, Parliament, Speaker of the National Assembly, and President standing in the way.”
PTI refutes reports on Imran Khan’s admission to GHQ protest call on May 9 ISLAMABAD
STAFF REPORT
The Pakistan Tehreek-e-Insaf (PTI) has strongly denied media reports alleging that its founder, Imran Khan, admitted to calling for a protest outside the Pakistan Army’s General Headquarters (GHQ) in Rawalpindi prior to his arrest on May 9. During a talk show on a private news channel, Asad Qaiser, former National Assembly speaker and senior PTI leader, emphasized, “[Khan] did not say what is being reported in the media […] we categorically deny this.” These denials follow claims that, during a court hearing at Adiala jail, Khan acknowledged calling for a peaceful protest outside the GHQ in response to law en-
forcement’s “attack” on his Zaman Park residence before his arrest. The former prime minister has been entangled in numerous legal battles linked to the May 9 riots. His arrest in a corruption case allegedly sparked these riots, during which several military and state properties, including the Lahore Corps Commander’s residence, were damaged. Both the previous and current governments have repeatedly accused Imran Khan and senior PTI leadership of orchestrating the alleged “organized” attacks on military sites. Despite obtaining relief in some cases, the ex-premier still faces 12 cases related to the May 9 events, currently being heard by an Anti-Terrorism Court.
PTI holds ‘symbolic’ hunger strike outside National, Punjab Assemblies ISLAMABAD
NEWS DESK
The Pakistan Tehreek-e-Insaf (PTI) on Tuesday established a symbolic hunger strike camp outside the Parliament House and the Punjab Assembly. PTI lawmakers will initiate a hunger strike camp starting Tuesday, led by Omar Ayub, the Leader of the Opposition in the National Assembly. PTI Chairman Barrister Gohar and other members will join the camp. The symbolic hunger strike is scheduled to run from 3 PM to 7 PM. Meanwhile, the Sunni Ittehad Council has also decided to establish a hunger strike camp in Punjab, following the PTI’s example in the federal capital. This camp will take place on July 24 outside the Punjab Assembly from 3 PM to 7 PM. Opposition Leader in the Punjab Assembly, Malik Ahmad Bachhar, stated that the decision to observe the hunger strike was made under the directive of PTI Founder Imran Khan, with consultation from the parliamentary leader, Mian Aslam Iqbal. The symbolic hunger strike camp aims to demand the release of party Founder Imran Khan, protest against the arrests of social media activists, and address the issue of rising inflation.
CM Gandapur summons PAC to ponder terrorism, Bannu incident on Thursday: Barrister Saif
PESHAWAR STAFF REPORT
Chief Minister (CM) Khyber Pakhtunkhwa (KP) has summoned a meeting of the Provincial Apex Committee (PAC) over Bannu incident on Thursday. According to Advisor to KP CM on Information Barrister Saif, the PAC meeting will discuss all issues related to the spate of terrorism, adding that KP Chief Minister Ali Amin Gandapur would talk at length with the PAC members on the resurgence of terrorism in KP, including unrest in Bannu. “A policy will be devised to restore the law and order in the province,” he further said. The Provincial adviser said that a meeting of Bannu Peace Committee was held at the Chief Minister’s House. The chief minister thanked the committee’s members for their full cooperation extended to the administration. “The meeting decided to summon the session of the apex committee on July 25,” Barrister Saif claimed. “The peace committee’s members expressed their confidence over the chief minister and invited him to Bannu,” KP adviser said. “Ali Amin Gandapur will visit Bannu on Friday,” the information adviser said. “The meeting also decided that a symbolic sit-in will continue in Bannu”, he added. The advisor to KP CM lauded all stakeholders who were engaged in the process to bring peace in Bannu following violent protests erupted last week.
PIA’s final auction delayed for two months as bidders ask for more information: report g
BIDDERS WAIT FOR AIRLINE’S LATEST AUDITED ACCOUNTS AND CLARITY ON FLIGHTS TO EUROPE PROFIT
STAFF REPORT
The Government of Pakistan has delayed the final auction for state-owned Pakistan International Airlines (PIA) by two months until the end of September after potential bidders sought more information to assess the carrier, Bloomberg reported. The bidders are waiting for the airline’s latest audited accounts, clarity on flights to Europe that are banned and aircraft lease agreements. The government is set to privatise PIA and outsource operations at three major airports in a bid to reduce financial losses and boost foreign exchange reserves. This decision comes as Pakistan’s $350 billion economy struggles with a balance of payment crisis.
The move to privatize PIA, a loss-making state-owned enterprise, aligns with the International Monetary Fund’s (IMF) recommendations. Pakistan, which recently secured a $7 billion loan from the IMF, announced plans to set an auction date for the airline within the next ten days. However, the final auction for PIA has been postponed until the end of September, as potential buyers have requested more information to thoroughly evaluate the airline, including its most recent audited financial statements and details on existing restrictions, such as the ongoing ban on flights to Europe. According to Bloomberg, bidders are also seeking clarity on aircraft lease agreements. The European Union Aviation Safety Agency (EASA) had previously banned PIA
from operating in Europe and Britain following a fatal plane crash in Karachi in 2020, which resulted in nearly 100 deaths and was further exacerbated by a pilot licensing scandal. This ban has significantly impacted the airline’s revenue, costing it approximately 40 billion rupees annually, as reported to the parliament. The government is considering selling between 51 percent and 100 percent of PIA, which has not reported a profit in almost two decades. Six bidders have been shortlisted for the upcoming auction, including prominent local business conglomerates and individual businessmen. Once a celebrated carrier in the 1960s and 1970s, PIA has since faced numerous challenges, including financial losses, mismanagement, and allegations of corruption, which
have significantly diminished its performance. With the country’s economic conditions pressing, the current administration has prior-
itized the airline’s privatization as part of its broader strategy to comply with IMF directives and stabilize the national economy.