EU has been applying double standards against us for a long time; with the support of our nation, we will continue to do whatever is good, right and beneficial for our country Turkish President The Asian Telegraph Recep Tayyip Erdogan www.theasiantelegraph.net Saturday, September 19, 2020| Vol: XI, Issue: 144 ABC CERTIFIED /asian_telegraph /asian_telegraph w us /theasiantelegraph /asian_telegraph w us /theasiantelegraph /company/theasiantelegraph ollo /company/theasiantelegraph F /asian_telegraph/asian_telegraph w us /theasianteleg/theasiantelegraphraph /company/theasiantelegraph .theasianteleg.theasiantelegraph.netraph.net Price Rs 8| Pages 4 ollo F w us /theasiantelegraph /company/theasiantelegraph .theasiantelegraph.net ollo /company/theasiantelegraph F .theasiantelegraph.net ollo F .theasiantelegraph.net FDI up by 40% in first PM directs Balochistan’s two months of FY21 mineral sector’s KARACHI development Asim Saleem Bajwa terms Reko The first two months of the ongoing fiscal year 2020-21 witnessed 40 per cent increase in Diq case stay great relief foreign direct investment (FDI). According to RAWALPINDI data released by the State Bank of Pakistan- (SBP), the FDI from July to August was recorded $220.7million. Major investments were re Special Assistant to Prime Minister on Information corded from Norway, Malta and Netherlands, and Broadcasting Asim Saleem Bajwa has said the report further added. Norway remained that after the decision of stay order by World Bank on the top of the list with $40.50 million. The tribunal in Reko Diq case, the Prime Minister Imran State Bank of Pakistan’s (SBP) data showed Khan had directed to accelerate development of that Foreign direct investment (FDI) in Pakistan mineral sector in Balochistan. In a tweet, he said has increased by 40% to $226.7 million in the stay order by World Bank tribunal on 6 billion first two months of the ongoing fiscal year of dollars award against Pakistan is a great relief. Asim 2020/21 with analysts believing that overseas- Sleem Bajwa said the Prime Minister also wants investors were betting on an economic recovery utilization of best technology, while local investors from the five-months of the downturn. The cen and local human resource should be involved tral bank’s data showed that the FDI increased during the development process. He has termed the by $162 million in the same period of the last stay order by World Bank tribunal on $6bn award fiscal year. As per the data, the majority of new- against Pakistan, a ‘great relief’. The reforms in the investments were seen in financial businesses, Committed to reform power sector sector will increase foreign investment and human electrical machinery and oil and gas explora- ISLAMABAD: Prime Minister Imran Khan chairs meeting regarding revival of Cinema Industry of Pakistan here on Friday. Photo by VoM resources, he added. A day earlier, Pakistan was tion sectors. In August, the FDI totalled $112.3 awarded a stay in Reko Diq case from World Bank million, depicting 24% growth from the corre tribunal. Attorney General Pakistan (AGP) office sponding month of FY2020. Analysts told The- Reforms to ensure uninterrupted power supply to masses: PM had termed the development a ‘success’ for Pakistan News that the persistent upward trend in the and its legal team for earning a stay on the hefty FDI was an indication of overseas investors be fine that comes about two percent of the country’s ing optimistic about the economic recovery in yearly GDP. The global arbiter International Centre - Pakistan. Business activity is rebounding after ISLAMABAD - for Settlement of Investment Disputes (ICSID) had the government lifted coronavirus lockdown in professor at the University of Chicago, terrupted power supply to the people. in July last year, decided in favour of the Australian Prime Minister Imran Khan on Friday- August. Various sectors of the economy such as Prime Minister Khan for utilizing- attended all resourcesthe meeting tovia providevideo link. cheap He encouraged power to the consumers suggestions of in company in a case wherein Pakistan was made the construction, energy and manufacturing are- said that the government was commit During the meeting, ongoing reforms ternational experts regarding reforms- liable to pay off $6 billion in compensation. However showing signs of recovery. A breakdown of the ted to bring reforms in the power sec in the power sector were reviewed in the power sector of Pakistan, saying- Pakistan, upon enforcement proceedings by data revealed that the FDI in the financial sec tor. Presiding over a high-level meet and various suggestions were made in that we will provide all possible as Tethyan Copper Co. Pty Ltd on the litigation, filed tor sharply rose to $85.4 million in July-August- ing here, PM Imran said that power view of the important role the power- sistance to experts in the implemen- a petition for a stay and initiated annulment. ICSID reforms aimed at ensuring cheaper - FY2021. That was compared with $14 million a - sector plays in economic development. tation of the reform process. Federal granted Pakistan a provisional stay earlier in April year earlier. FDI in the electrical machinery in and uninterrupted electricity supply to Prime Minister Imran Khan appreci Minister for Power Omar Ayub, Minis upon initiating proceedings for the annulment of the the people. “Leave no stone unturned creased to $36.5 million from $15 million. The - ated the research done by experts on ter for Planning Development and Spe verdict. The stay order granted by the World Bank’s oil and gas exploration sector attracted $34.3- in provision of cheaper and uninter Pakistan’s power sector. The Prime- cial Initiatives Asad Umar, Minister for International Centre for Settlement of Investment million of FDI in two months of the current fiscal rupted power supply to the masses,” Minister reiterated his commitment of Information and Broadcasting Shibli Disputes (ICSID) in the Reko Diq case was a great he directed to the concerned authori - year as opposed to $25.1 million in the same pe - ensuring speedy completion of the re Faraz, renowned economist and power relief for the country, SAPM on Information and riod last year. Norway was the largest investor- ties. The prime minister said that the form process, especially in the energy- experts were present in the meeting. Broadcast retired Lt Gen Asim Saleem Bajwa said on in Pakistan followed by Netherlands and Malta, reforms in the power sector were vital sector. During the meeting, the Prime Earlier on July 30, Prime Minister Im Friday. “Stay order by World Bank tribunal on $6 Bn according to the SBP’s data. In July-August, in for economic stability and develop Minister said that the present govern- ran Khan had said that reforms in the award vs Pakistan is great relief,” VoM vestment from Norway rose to $45 million from ment in the country. He said that the ment was committed to reforms in the- power sector were vital for economic- $0.1 million a year ago. VOM former governments had not focused power sector. He said that energy sec stability in the country. Presiding over on reforms in the energy sector. Prime tor is a key factor in the economic de a high-level meeting on power sec Minister Imran Khan has said that the velopment of the country. In the past,- tor reforms in Islamabad, PM Imran government will use all its resources to attention was not paid to the growing had directed to devise an action plan ensure affordable and uninterrupted - - needs of domestic and industrial con to implement reforms in the power power supply to the public. During the sumers and sector’s reforms, wasting sector at the scheduled time. He had meeting, reforms regarding the core the potential of economic develop- also directed the authorities to ensure- issue were reviewed. Dr. Robin Bridg ment in Pakistan. Imran Khan said- strict action against those elements es, a professor at the London School of the government would use all its re who were creating problems for con Economics, and Michael Greenstone, a President Gurbanguly for Pak-Turkmen JGC,sources JWG to ensureGerman affordable Envoyand unin hailssumers.VoM Europe imposes fresh Covid-19 related curbs on diverse sectors Pak efforts to resume COPENHAGEN educational activities which is set to unveil a raft of new restrictions on Sohail Majeed Butt Large parts of Europe on Friday geared up for Friday. Madrid officials warned that the region’s ISLAMABAD operationalization of TAPI project that would go a- ISLAMABAD broad new restrictions to stop the coronavirus, healthcare system was coming under increasing - long way in further strengthening bilateral relations after infections worldwide topped 30 million- pressure, with one in five hospital beds occupied President of Turkmenistan, Gurbanguly between the two countries. While underlining the sig German Ambassador Bernhard and the World Health Organisation warned of by Covid-19 patients amid a second wave of the- Berdimuhamedov on Friday proposed online meet nificance of CPEC, the President said that the Corridor Schlagheck Friday lauded Pakistan’s “alarming rates of transmission”. Britain is limit illness. Anxiety has been growing in the city about- ings of existing institutional mechanisms between would boost regional connectivity and countries of efforts to mitigate the socioeconomic ing gatherings and France is set to roll out new the prospect of a return to lockdown after a top re the two countries such as Joint Governmental the region particularly Afghanistan and Central Asian- impacts of the coronavirus pandemic- curbs for major cities as governments across the gional health official on Wednesday raised the pos- Commissions and Joint Working Groups on trade,- Republics would tremendously benefit from its road and create conducive conditions for the continent battle fresh spikes of the disease. More sibility for the worst-hit areas.