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PM EMPHASIZES POLITICAL STABILITY FOR ECONOMIC DEVELOPMENT
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Friday, 3 January, 2025 I 2 Rajabul Murajjab, 1446
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PREMIER SHEHBAZ STATES MACROECONOMIC g BOASTS SUGAR SMUGGLING THROUGH INDICATORS IMPROVED, PINNING HOPES ON AFGHANISTAN REDUCED TO ZERO WHICH YEAR 2025 FOR PROSPERITY AND GROWTH IS A POSITIVE SIGN FOR ECONOMY
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Rs 20.00 | Vol XV No 178 I 8 Pages I Islamabad Edition
INFLATION EASED DOWN TO 4.1%, FOREIGN REMITTANCES INCREASED BY 34% AND FOREIGN EXCHANGE RESERVES JUMPED FROM $4B TO $12.5B: PM
stability, the country had now entered the growth stage. “If we want to achieve the
economic development, then we will have to focus on export-led growth …
..and we have no other option”. The prime minister also appreciate the efforts of Federal Board of Revenue and the economic team for collecting additional Rs72 billion under ADR (advanceto-tax ratio) due to which the government’s target of tax revenue for December 2024 had almost been achieved. The prime minister noted that due to the faceless interaction facility, 39% time duration of container inspection had been reduced while the businessmen got relief of 89%. Additionally, he said smuggling of sugar through Afghanistan had been reduced to zero which was a positive sign for the country’s economy.
ISLAMABAD
Minister Muhammad Shehbaz Sharif and attended by Chief of the Army Staff, Federal Cabinet, Provincial Chief Ministers, the Prime Minister of Azad Jammu and Kashmir, Chief Minister of Gilgit Baltistan and high level government officials. Secretary Apex Committee briefed the forum about strategic focus, initiatives and contributions of SIFC to sup-
port National Economic Transformation Plan 2024-2029 ‘Uraan Pakistan’. The committee showed profound satisfaction in improving the macro-economic conditions of the country while emphasizing upon the importance of collective efforts for ensuring unhindered economic growth and passing on the dividends to the masses.
ISLAMABAD
STAFF REPORT
RIME Minister Shehbaz Sharif on Thursday underlined that the economic development was directly linked with political stability as the strength of a country’s economy was deeply rooted in its political framework. Chairing a meeting on Special Investment Facilitation Council (SIFC), the prime minister said the country’s macroeconomic indicators had significantly improved due to the untiring efforts of the economic team, expressing his confidence that the year 2025 will bring prosperity and growth in the country. For the first time after 2018, the inflation rate has been eased down to 4.1%, foreign remittances have posted increase of 34%, exports have also jumped, and foreign exchange reserves have jumped from $4 billion to $12.5 billion,” PM Shehbaz said adding that the policy rate which was now at 13% had space of further 8% keeping in view the inflation rate. As regards, foreign investment, the prime minister emphasized that MoUs worth billions of dollars had already been signed with Saudi Arabia, Qatar and UAE. He said having achieved economic
COAS reaffirms Army support as SIFC reviews initiatives on economic transformation STAFF REPORT
The Special Investment Facilitation Council (SIFC) convened 11th Apex Committee Meeting on Thursday to review various initiatives being steered through the forum. The meeting was chaired by Prime
Turkish consortium offers below-minimum bid for Islamabad airport operations
PROFIT MONITORING DESK
A Turkish consortium, the only bidder for Pakistan’s Islamabad airport operations, has proposed a concession fee lower than the government’s minimum threshold, according to the chairman of the bid evaluation committee on Thursday. The cash-strapped country aims to raise revenue by accelerating its privatization efforts, including outsourcing the management of three major airports. The consortium, consisting of Terminal Yapi, ERG Insaat, and ERG UK, has offered to pay 47% of its revenue from operations to the government, falling short of the 56% minimum requirement set by the authorities. The aviation and airports authority confirmed the offer and stated that the matter will be referred to the International Finance Corporation (IFC), which is advising the government on the outsourcing process, for further evaluation. Sadiq ur Rehman, chairman of the bid evaluation committee and deputy director-general of Pakistan Airports Authority, noted that the financial details will be presented to the IFC for a final review and report. Pakistan is also seeking to sell a 60% stake in the financially troubled national airline PIA as part of its effort to raise funds and restructure state-owned enterprises under a $7 billion International Monetary Fund program. Earlier, the Blue World Consortium had submitted a bid of Rs10 billion during the initial privatization attempt, significantly below the expected minimum price of Rs85 billion.
Kurram valley takes a step towards peace as tribes lay down arms KOHAT
STAFF REPORT
The long-awaited Kurram peace agreement will officially come into force on Saturday, January 4, 2025. As part of the agreement, a convoy of passengers will travel to Parachinar under strict security measures. The accord, finalized during a jirga, outlines that all bunkers in the region will be dismantled within 15 days, and all arms will be surrendered to the authorities. The peace deal is expected to restore stability in Kurram once the weapons are handed over and the bunkers are removed. However, despite the peace agreement, sit-ins continue in Parachinar and the Baggan area of Lower Kurram. Protesters in Parachinar are calling for the reopening of all roads, including the main highway, to ensure security. Meanwhile, the protestors in Baggan have insisted that they will not end their demonstration until all arms are collected and bunkers are demolished. They are also demanding compensation for the damages caused to homes and businesses in Baggan Bazaar. The Grand Jirga, which convened for three weeks to address the unrest in Kurram, reached an agreement, which both parties signed. Members of the jirga emphasized that all sides are obligated to abide by the decisions made by the Apex Committee. A 16-member committee representing both factions will oversee the implementation of the agreement. The government will create a structured plan to collect the arms. Abdullah Khan, a member of the jirga, confirmed that bunkers between Teri Mangal and Chehri will be dismantled, and key roads such as the Tal-Parachinar Road will be reopened to the public. Following the signing of the agreement, the Khyber Pakhtunkhwa (K-P) government has announced that it will reopen vital roads leading to Kurram, beginning the movement of vehicles in caravans on January 4. Previously, the Kurram district had been cut off from the rest of the country due to a volatile security situation, with supplies being airlifted by helicopter to residents in the area.
PTI seeks time to consult Imran on ‘negotiation agenda’ as 2nd round of talks concludes successfully ISLAMABAD
STAFF REPORT
The Pakistan Tehreek-e-Insaf (PTI) on Thursday sought more time for consultation with party’s founder Imran Khan on the final “negotiation agenda,” as the second meeting of the government-opposition negotiation committee concluded successfully, according to Speaker National Assembly Sardar Ayaz Sadiq. Speaking to the media after the negotiations, the NA speaker said that during the previous meeting, it was decided that the PTI would present its demands in the second round. However, the PTI has requested additional time, citing the need for further consultation with Imran on a “conclusive list” of demands. “The hope is that we will have the third meeting next week,” he said. Ayaz Sadiq termed second round of the govt-opposition pleasant, saying they were held in “an even more cordial atmosphere than before”. In particular, he pointed out that CM Gandapur had given very commendable suggestions and advice and “poured out his heart”.
“The most beautiful result of all this was that everyone decided to sit down and talk on Pakistan’s betterment, whether about the economy, terrorism or any other issue.” It is to be noted that the first meeting between committees representing the government and the opposition PTI took place on Dec 23, to defuse prevailing political tensions. A notification issued by the National Assembly (NA) Secretariat on Monday said that NA Speaker Sardar Ayaz Sadiq would chair an in-camera meeting of the second round between the negotiating teams of the federal government and PTI on January 2 (Thursday). The meeting kicked off under the NA speaker’s oversight and was attended by Leader of the Opposition in the National Assembly Omar Ayub, Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, PTI MNA Asad Qaiser, Sunni Ittehad Council chief Hamid Raza, Majlis Wahdat-i-Muslimeen chief Senator Raja Nasir Abbas Jafri and PTI Secretary General Salman Akram Raja from the opposition. Meanwhile, the government side was represented by Deputy Prime Minister and Foreign Minister Ishaq Dar, PML-N Senator Irfan Siddiqui, PPP MNAs Raja
Pervaiz Ashraf and Naveed Qamar, Adviser to the Prime Minister on Political and Public Affairs Rana Sanaullah, among others others. Reading out the joint statement, Senator Siddiqui said the opposition presented its point of view in detail and demanded the release of Imran and other PTI leaders and supporters, along with the formation of a judicial commission on the events of May 9, 2023, and November 26, 2024. He said the party also requested that it be allowed to meet Imran in Adiala Jail to consult him on the final charter of demands. He said that as per the PTI, Imran had given his permission to begin the talks and thus his instructions were necessary for their continuation. “The PTI said that the charter of demands will be presented in the next meeting in definitive written form,” Siddiqui said, adding that FM Dar told the opposition the government had no issue with the PTI committee meeting Imran for consultation on demands. Speaking to the media outside Parliament House, Siddiqui explained that the opposition believed that the PTI founder initiated the process and required his step-by-step guidance, which the government viewed as a legitimate need.
Planning minister urges medium-term framework to deregulate sugar industry
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FOCUS ON DATA UNIFORMITY, CROP ZONING, AND BACKWARD INTEGRATION TO BOOST PRODUCTIVITY AND EXPORTS PROFIT APP
Planning Minister Ahsan Iqbal has directed the development of a mediumterm framework for deregulating Pakistan’s sugar industry, stressing the need for data accuracy, crop zoning, and backward integration to enhance productivity and export potential. Chairing a meeting of the Prime Minister’s Committee on Sugar Stocking, Forecasting, and Planning, Iqbal emphasized the importance of effective coordination among government institutions to ensure timely and evidencebased decisions. The meeting was notified in December 2024 to address challenges in sugar stock monitoring
and export planning. The meeting was attended by Federal Minister for Industries and Production Rana Tanveer Hussain, Minister of State for Finance Ali Parvez Malik, and representatives from the Federal Board of Revenue (FBR), SUPARCO, and the Pakistan Sugar Mills Association (PSMA), among others. The PSMA representatives highlighted persistent issues with obtaining accurate data, noting that most sugar mills fail to provide timely information. They acknowledged FBR’s collaboration last year, which improved data verification, and suggested establishing a single data source to enhance accuracy. PSMA also proposed an annual review of sugar mill performance, ex-
pressing concerns about financial paralysis caused by price controls, despite successful exports. They praised the government’s track-and-trace system for curbing sugar smuggling. Minister Iqbal called for greater collaboration with SUPARCO for satellite-based data gathering and directed relevant ministries to address data inconsistencies. “Experts and researchers must unify data sets to solve the problem of variance,” he said, emphasizing the importance of accurate reporting for policy decisions. He proposed a medium-term master plan spanning 10 years to deregulate the sugar industry, focusing on improving sugar recovery rates, producing surpluses, and boosting exports. The
minister also stressed the significance of crop zoning to maximize agricultural productivity and protect farmland from incompatible use. Iqbal highlighted backward integration as a means to enhance efficiency in the sugar industry, citing its success in other sectors. He noted that while Pakistan ranks as the fifth-largest sugar producer globally, its yield efficiency remains alarmingly low. “Pakistan’s sugar industry must prioritize productivity beyond mere production. Backward integration can provide faster growth, similar to the progress made by FMCGs,” he added. A new committee, chaired by the Chief Statistical Officer and including representatives from the Ministry of Industries, FBR, PSMA, and SUPARCO, will be established to address data discrepancies and streamline policy-making.
Military pardons 19 convicts of May 9 riots, to be released soon: ISPR RAWALPINDI/ISLAMABAD STAFF REPORT
The military courts of appeal have accepted mercy/remission pleas of 19 May 9 convicts against their jail sentences on the humanitarian grounds and in accordance with the law, the Inter-Services Public Relations (ISPR) announced in a statement on Thursday. According to an ISPR statement said that 67 convicts had filed mercy/remission petitions and 19 of them had been accepted and they will be released soon. The development comes less than a month after military courts sentenced a total of 85 civilians involved in the May 9 riots of 2023. On December 21 last year, military courts sentenced 25 civilians to prison terms ranging from two to 10 years over the May
9 events. A week later, another 60 civilians were handed jail terms ranging from two to 10 years for their involvement in the nationwide riots. “Sequel to the promulgation of punishments to 9th May Tragedy convicts, they have exercised their right to appeal and have asked for mercy/remission in their punishments,” the statement said. “A total of 67 convicts have given their mercy petitions,” it said, adding that 48 petitions have been processed to Courts of Appeal, while petitions of 19 convicts have been accepted “purely on humanitarian grounds, under the law.” “Mercy petitions of remaining will be decided in due course of time, following the legal process,” it said. Those whose mercy pleas have been accepted, include: Muhammad Ayaz s/o Sahibzada Khan — was sentenced to two years
of rigorous imprisonment for involvement in the Main Gate FC Cantt Peshawar incident. Sami Ullah s/o Meer dad Khan — was sentenced to two years of rigorous imprisonment for involvement in the Bannu Cantt incident Laeeq Ahmed s/o Manzoor Ahmed — was sentenced to two years of rigorous imprisonment for involvement in the ISI Office Faisalabad incident. Amjad Ali s/o Manzoor Ahmed — was sentenced to two years of rigorous imprisonment for involvement in the ISI Office Faisalabad incident Yasir Nawaz s/o Ameer Nawaz Khan — was sentenced to two years of rigorous imprisonment for involvement in the Punjab Regimental Centre Mardan incident. Said Alam s/o Maaz Ullah Khan — was sentenced to two years of rigorous imprison-
ment for involvement in the Punjab Regimental Centre Mardan incident. Zahid Khan s/o Muhammad Nabi — was sentenced to two years of rigorous imprisonment for involvement in the PRC Mardan incident. Muhammad Suleman s/o Said Ghani Jan — was sentenced to two years of rigorous imprisonment for involvement in the HQ Dir Scouts Timergara incident Hamza Sharif s/o Muhammad Azam — was sentenced to two years of rigorous imprisonment for involvement in the ISI Office Faisalabad incident Muhammad Salman s/o Zahid Nisar — was sentenced to two years of rigorous imprisonment for involvement in the ISI Office Faisalabad incident Asher Butt s/o Muhammad Arshad Butt
— was sentenced to two years of rigorous imprisonment for involvement in the Rahwali Gate Gujranwala incident Muhammad Waqas s/o Malik Muhammad Khalil — was sentenced to two years of rigorous imprisonment for involvement in the Rahwali Gate Gujranwala incident Sufayan Idrees s/o Idrees Ahmed — was sentenced to two years of rigorous imprisonment for involvement in the Rahwali Gate Gujranwala incident Muneeb Ahmed s/o Naveed Ahmed Butt — was sentenced to two years of rigorous imprisonment for involvement in the Rahwali Gate Gujranwala incident Muhammad Ahmed s/o Muhammad Nazir — was sentenced to two years of rigorous imprisonment for involvement in the Rahwali Gate Gujranwala incident