VOLUME 15 | N o 98 Lahore Regd No. CPI 251 INTERNATIONAL LAHORE 6P7 6P2

Johnson hospitalised The Corona will not with virus leave but ‘still soon, reveals incharge’ An English Daily published simultaneously from Lahore and Faisalabad Governor PAGES 08 | R s 20 Buwsww.theibusiness.com.epk ss Shaban 13 1441 Tuesday, April 07 , 2020 Tareen blames Azam Khan behind report, terms it attempt Shabbar fired, to make him target, ‘removed’ as Agri Task Force chief Nausheen made FBR Chairperson By Jahangir Hayat and/posted as Chairperson, Federal Board of Revenue LAHORE: The Federal (FBR), with immediate effect. Khusro, Secy removed from government on Monday ap - The notification explained pointed Nausheen Javed as that the Chairman, Federal new Chairperson of the Fed - Board of Revenue (FBR) is eral Board of Revenue (FBR). appointed by Federal Gov - The federal cabinet has ap - ernment in terms of Section 3 proved the appointment of (3) of FBR Act, 2007. ministry in major shake-up Nausheen Javed as an FBR In view of the above order, curity, as a beneficiary. the provincial food minister after chairperson through the cir - the Establishment Division g Tareen tweeted soon after, say - meeting Punjab CM Sardar Usman culation summary. proposes the following: -The Punjab minister Samiullah resigns over report ing that he was never appointed as Buzdar. The provincial minister Earlier, Establishment Di - honorary/ pro bono appoint - By Our Staff Correspondent Federal Minister for National Food after the Federal Investigation the chairperson of the task force. submitted resignation after he was vision proposed appointment ment of Syed Muhammad Security. Bakhtiar has instead been Agency team released reports on Another report adds: On the accused of not bringing reforms in of Nausheen as FBR Chair - Shabbar Zaidi, as Chairman, ISLAMABAD: In a major cabi - given the charge of the Ministry of the sugar crisis and beneficiaries other hand, the PM ’s close aide the food department and failure to person. It has proposed the Federal Board of Revenue net reshuffle, Prime Minister Imran Economic Affairs, replacing Ham - of subsidies obtained by the indus - denied the news in a twitter post, regulate the hike in prices of wheat honorary/pro bono appoint - (FBR), may be terminated Khan has on Monday replaced mad Azhar, who has been made the try's bigwigs. The report on the saying he was never chairman of and flour. He said that he is volun - ment of Syed Muhammad with immediate effect. Makhdoom with Federal Minister for Industries. sugar crisis named Bakhtiar, then any task force. Tareen also asked if tarily presenting himself for ac - Shabbar Zaidi, as Chairman, The notification also read PTI leader Syed Fakhar Imam as The reshuffle comes two days the minister for national food se - anyone can anyone show his a no - countability. Chaudhry said he has FBR, has been terminated that Ms. Nausheen Javaid tification with him as chairman. been illegally involved in the scan - with immediate effect, a no - Amjad (BS-22/1RS), Later, talking to media, while de - dal, adding that all allegations tification issued by the Cabi - presently posted as Member claring the FIA’s investigation re - against him are baseless. net Secretariat Establishment (Admn), FBR may be trans - port politically motivated, Jahangir Finance Dept has no role in Division said. ferred and appointed Major changes in Cabinet Tareen termed it an attack on him - giving sugar subsidy: Hashim The notification also said and/posted as Chairperson, • Fakhar Imam appointed as Minister for National Food Security self. He alleged that PM’s Principal Punjab Finance Minister Hashim that Ms. Nausheen Javaid FBR, with immediate effect. Khusro Bakhtiar made Minister of Economic Affairs Secretary Azam Khan is behind the Jawan Bakht said on Monday that Amjad (BS-22/1RS), Approval of the Federal • presently posted as Member Cabinet is solicited to the pro - Hammad Azhar given Ministry of Industries investigation report, adding that an giving sugar subsidy was a decision • incomplete report was released just of the cabinet and it was free from (Admn), FBR may be trans - posals contained in para 4 of • Azam Swati given the porfolio of Minister for Narcotics Control to make him a target. any interference or influence from ferred and appointed the summary, it was said. • was appointed Adviser for Parliamentary Affairs while The PTI leader said Azam Khan the Punjab Finance Department. Mohammad Shahzad Arbab was removed as Adviser. The PM also accepted is making his own decisions by set - He said in a media statement is - ting up a hierarchy around PM sued here that in a meeting pre - the resignation of Khalid Maqbool Siddique. Imran, adding that he is himself ceding the cabinet decision, the Youth to show • Secretary Ministry of National Food Security and Research Hashim Popalzai making the schedule of meeting the Provincial Finance Department was removed from his post and replaced by Omar Hameed. PM. Tareen further claimed that had categorically stated that it MQM-P's Aminul Haq has been made Federal Minister for Telecom. the principal secretary is constantly considered subsidies as economic national spirit in • harming the premier, adding that distortions. It had suggested that • , Adviser to the Prime Minister on Commerce, Textile, he is in contact with the provincial government should Industry & Production and Investment has been removed. and will stand by his side formulate a comprehensive policy pandemic, says PM The Ministry for National Food Security and Research saw another change, as Samiullah presents himself and a plan for gradual elimination ISLAMABAD: Prime Khan on Monday directed • for accountability of the subsidy on sugar, as it was Minister Imran Khan has ex - the immediate activation of its secretary Hashim Popalzai was replaced with Omar Hameed. Samiullah Chaudhry resigned as not a staple food. pressed optimism that youth the Corona Relief Tiger will demonstrate national Force at the provincial level spirit in this hour of need. as around 739,000 young - The Prime Minister was sters have registered them - PSX loses 1042 talking to Special Assistant selves to join the volunteers’ on Youth Affairs body for relief works during points to close who called on him here on the lockdown in the wake of Monday. He said the spirit of coronavirus pandemic. at 30,579 youth is appreciable and they During a meeting, Special should be activated at provin - Assistant to the Prime Min - ISLAMABAD: The Pakistan Stock Ex - cial and district levels. ster on Youth Affairs Usman change (PSX) Monday witnessed bearish Usman Dar presented the Dar updated the prime min - trend as the index closed at 30,579.15 latest report regarding Tiger ister and consulted with him points as compared to 31,621.79 points on Force to the Prime Minister. on operational matters re - the last working day with the negative The PM while expressing garding the force. The prime change of 1042.64 points (3.30 percent). satisfaction on it directed him minister expressed satisfac - A total of 233,329,238 shares were to immediately make the tion over the report, a PM traded compared to the trade 251,874,893 force active at provincial Office statement said. On shares during the previous day, whereas the level. During the meeting, it the prime minister’s direc - value of shares traded during the day stood was decided to make the live tives, the live update of the at 8.711 billion as compared to Rs 9.262 updates of the force public. Tiger Force has also been billion during last trading day. On the direction of PM, the made public and linked with As many as 339 companies’ transacted portal of Tiger Force has the government’s official shares in the Stock Market on Monday, out been linked with official portal of COVID-19. of which 47 recorded gain and 278 sus - website of COVID-19. Dar told the PM that ma - tained losses whereas the share price of 14 Usman Dar apprised the jority of those who had regis - companies remained unchanged. Prime Minister that the num - tered for the volunteers’ force The three top traded companies were ber of registered youth in were of students and social Maple Leaf with a volume of 23,037,500 Tiger Force has exceeded workers, besides doctors, po - shares and price per share of Rs 22.25, Has - 739,000. litical workers, engineers, col Petrol with a volume of 20,174,500 QUETTA: Police arrest the Young Doctors Association members who protest against the Balochistan Government for non-providing coronavirus safety kits, outside the CM House. PM for Corona Tiger teachers, lawyers, journalists, price per share of Rs 13.85 and K- electric Force at provincial level retired armed forces officers ltd with a volume of 17,013,000 and price Prime Minister Imran and people from the corpo - per share of Rs 2.75. Colgate Palm recorded maximum decrease of Rs 98.99 per share, closing at Rs 1901. —APP Coronavirus toll climbs to Pak forex reserves Govt to cut impacts slump by 12 percent The Business Report tracted foreign carry trade of lockdown on 50 with 3,289 infected cases money on the back of high The Business Report Federal Minister for Planning of coronavirus pandemic in the province. ISLAMABAD: Pakistan's interest rates and a fall in im - informed that goods transport carrying food middle class: Asad Seven days lockdown extension foreign exchanges reserves ports. But with the first coro - LAHORE: Pakistan on Monday has re - will remain open, while medicines will be notification issued in Punjab plunged more than 12 per - navirus case being reported ISLAMABAD: Minister for Planning, ported 50 deaths from novel coronavirus available for the general public in all four The Interior Ministry of Punjab has ex - Development and Special Initiatives Asad while the total number of cases has surged provinces of the country. tended the lockdown in the province for cent or $1.6 billion over just in the country on Feb. 26, three weeks in March as the things have started to change. Umar has said that the government is mak - to 3,289. According to details, 1493 pa - KP approves over Rs1b relief seven days. ing strategy to reduce the economic im - tients have been tested positive for the epi - package for deserving families According to the notification issued by the coronavirus outbreak roiled "This is an alarming situa - pacts of lockdown on lower and middle demic in Punjab, 881 in Sindh, 405 in Khyber Pakhtunkhwa government has Interior Ministry of Punjab, the lockdown global financial markets, the tion, because Pakistan came segments of the country. Khyber Pakhtunkhwa, 211 in Gilgit- approved a relief package of over one bil - has been extended for seven days in the latest data from the central out of an external account cri - Addressing a press conference here on Baltistan, 202 in Balochistan, 82 in Islam - lion rupees for deserving families across the province till April 14. The grocery stores will bank showed. sis just last year through IMF Monday, he said pace of coronavirus abad and 15 in Azad Kashmir. province. Th approval was given at a meet - remain open from 9:00 am-5:00 pm. As on March 27, forex re - funding," said Muhammad spread is slowing down in the country due So far, 257 patients have recovered in the ing of Zakat and Social Welfare Depart - The notification stated that the period ex - serves totalled $11.2 billion, Sohail, CEO of Topline Se - to effective measures of the government. country while 17 are in critical condition. ment with Chief Minister Khyber tended for the lockdown is due to epidemic down from $12.8 billion as curities, a Karachi-based ad - He said that further decisions will be made Provincial Health Minister Dr Yasmin Pakhtunkhwa in the chair. of the corona virus. The steps taken to pre - on March 6. Pakistan last visory firm. The fall in regarding lockdown and provision of better Rashid said that in Punjab, there are only two Under the package, two installments of vent the corona virus should be implemented year had entered into a pro - reserves is due to multiple health facilities in upcoming week. patients of coronavirus in critical condition six-thousand rupees each will be paid on immediate effects. gramme with the Interna - factors, including panic sell - He said the government is working to and that 90% of patients do not show symp - through district zakat councils and local Doctors and para-medical staff protest tional Monetary Fund amid a ing of debt and equities, and improve the medical facilities and steps toms of the virus while the rest experience zakat committees. This package is sepa - against lack of safety kits in Quetta yawning current account reserves are expected to fall are also being taken to increase the testing fever and coughs. The minister said that rate from the relief assistance provided Young Doctors Association (YDA) and deficit and depleting reserves further in coming weeks, So - capability for coronavirus and providing 10,000 people belonging to Tableeghi Jamat under Ehsaas Program. Mahmood Khan other paramedical staff have protested that have been shored up with hail said. more ventilators to hospitals. and 187 people are admitted in different hos - said that the government’s coronavirus against lack of safety kits in hospitals of temporary deposits from Foreign investments from He said the safety of medical staff is gov - pitals. She said that in total 18,269 people have relief package will cover close to two mil - Balochistan. friendly countries like Saudi Pak in March from govt ernment’s prime responsibility and provi - been tested for the virus. In an effort to stop lion families across the province. According to media reports, doctors and Arabia and China. treasury bills, equity and sion of protective equipment is being the spread of coronavirus, the National Coor - Chief Minister Khyber Pakhtunkhwa paramedics blocked roads and boycotted all The situation improved bonds, more than halving the ensured for this purpose. —TLTP dination Committee (NCC) has decided to ex - Mahmood Khan says the government is tak - duties to lodge protest against lack of safety until March aided by inflows total net inflow for the ongo - tend the countrywide lockdown till April 14. ing effective steps to control the spreading equipment in hospitals of the province. into treasury bills that had at - ing fiscal year which now CORONAVIRUS IN PAKISTAN Confirmed cases: 3,289 Oil prices fall after Saudia, Russia delay meeting ICT: 82 The Business Report $33.30 a barrel. US crude was $0.65, disappointment at the delay had driven Markets Bjornar Tonhaugen said open in Asia but clawed back some Punjab: 1493 or 2.3%, lower at $27.69 a barrel, off a down prices in Asian business. even if the group agrees to cut up to ground and was trading 5.7 percent LONDON: Oil prices fell on Mon - session low of $25.28. The Organisa - Kremlin spokesman Dmitry 15 million bpd, “it will only be lower, at $26.72 a barrel. International Sindh: 881 day after Saudi Arabia and Russia de - tion of the Petroleum Exporting Coun - Peskov said Moscow was ready to enough to scratch the surface of the benchmark Brent crude was down 4.3 layed a meeting to discuss output cuts tries (OPEC) and its allies, a group coordinate with other oil exporting more than 23 million bpd supply percent to trade at $32.64 per barrel. KP: 405 that could help to reduce global over - known as OPEC+, are expected to countries to help stabilise the market overhang predicted for April 2020. Oil prices have tumbled to levels Balochistan: 202 supply as the coronavirus pandemic meet on Thursday, instead of Mon - and that the OPEC+ meeting was de - Another report adds: Oil prices fell not seen for years due to the coron - pummels demand. days, to discuss cutting production. layed for technical reasons. OPEC+ sharply Monday after a meeting to dis - avirus pandemic and a price war be - AJK: 15 Brent crude fell more than $3 when “Perhaps it is best that the meeting is working on a deal to cut produc - cuss output cuts between OPEC and tween Russia and Saudi Arabia, the GB: 211 Asian markets opened but recovered was delayed for producers to cement a tion by about 10% of world supply, its allies was delayed, dimming hopes kingpin of exporting group OPEC. some ground, with traders hopeful a minimum of common ground before or 10 million barrels per day (bpd), of swift action to support coronavirus- Business shutdowns, travel restric - Recovered: 257 deal between the top producers was the actual discussions take place on in what member states expect to be ravaged energy markets. tions and other measures put in place still within reach. At 1135 GMT, Thursday,” BNP Paribas analyst Harry an unprecedented global effort. US benchmark West Texas Inter - to contain the virus outbreak have Deaths: 50 Brent was down $0.81, or 2.4%, at Tchilinguirian said. He noted initial But Rystad Energy’s Head of Oil mediate plunged eight percent at the battered demand.