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IslamabadFriday, June 11, 2021 ’s First AndP Only DiplomaticO Daily STPrice Rs. 20 US will purchase 500 Envoy calls million Pfizer doses to for end to ruled out of donate to 100 nations Islamophobia PSL season 6 Detailed News On Page-08 Detailed News On Page-08 Detailed News On Page-06 Briefs Pak economy Corruption of caught rebounds with

Nazir Siyal KARACHI: Pakistan Peo- 4% growth ples Party (PPP) Chair- man Bilawal FBR collection has seen an increase of Bhutto Zard- ari called 18% as compared to last year. The revenue out the PTI government for causing a collection has so far reached Rs 4.2tr loss of up to Rs 1,000 bil- lion to the national excheq- Commerce Reporter Budget to have an uer by changing interest rates. He also condemned ISLAMABAD: Pakistan’s economy rebound- estimated outlay the selected budget of the ed strongly during the current fiscal year selected government. In and posted a growth of around four percent, of Rs8 trillion a statement issued from which is substantially higher than the previ- the Media Cell Bilawal ous two years. Minister for Finance Shaukat House, the Chairman Paki- Tarin, accompanied by Minister for Indus- DNA stan Peoples Party Bilawal tries and Production Khusro Bakhtiyar, ISLAMABAD: The Pakistan Tehreek-e- ISLAMABAD: Finance Minister Shaukat Ahmed Tarin presents Pakistan Economic Bhutto Zardari declared, Commerce Adviser Razak Dawood, Special Insaf government on Friday will present Survey 2020-21 Report to Prime Minister Imran Khan. – DNA “We refuse to accept this Assistant on Poverty Alleviation Sania Nish- its third budget, for the fiscal year 2021- preposterous budget. It’s tar and SAPM on Revenue Waqar Masood, 22, with an estimated outlay of around evident the budget is po- launched Pakistan Economic Survey 2020- Rs8 trillion, state-owned news agency Firdous litical and has not been de- 21, in Islamabad on Thursday. APP reported. The National Assembly slaps signed to favor the public. According to the Economic Survey, the GDP is already in session where the budget Pak, Qatar enjoy at the current market price stands at 47,709 would be presented on Friday. PPP MNA Pak wants billion rupees showing a growth of 14.8 per- Like last year, the budget for the up - cent over the last year. coming year has been formulated con- regional The agriculture sector posted a growth sidering the impact of COVID-19 on the historical ties: PM of 2.8 percent, industries 3.6 percent and people and businesses, and will have the peace services 4.4 percent. In Industry, Manu- aim of mitigating people’s sufferings, facturing recorded 8.7 percent growth on reforming the agriculture sector, pro- account of significant growth in large scale moting industry and businesses. “The DNA manufacturing and SMEs. The large scale government of Pakistan is firmly com- ISLAMABAD: Special Rep- manufacturing increased by eight point nine mitted to presenting a pro-people, busi- percent. The construction sector recorded resentative ness-friendly and growth-oriented Feder- to the Prime growth of 8.3 percent. The IT sector wit- al Budget FY 2021-22. The government nessed growth of 18. 85 percent which is the Minister on will pursue an all-inclusive, sustained Bureau Report Religious highest growth in comparison with all oth- and robust economic growth, through LAHORE: A video of Special Harmony er industries and the highest in the region. short, medium and long-term economic Assistant to Chief Minister Maulana Ta- planning,” the sources said. Continued on Page 06 Punjab on Information Fir- hir Ashrafi says Pakistan dous Ashiq Awan and PPP is committed to maintain MNA Mandok- the regional peace and will hel has gone viral, in which continue its efforts in this COAS lauds BGMF’s the two can be seen getting regard. Talking to media into a heated verbal ex- after Pak-Afghan Ulema change on a television show. Conference in Islamabad on Mahnoor Ansar In the verbal duel during the PM Imran likely Thursday, he said Pakistan’s Polio eradication efforts show, Mandokhel accused peace is linked with the ISLAMABAD: Ambassador of Qatar in Paki- Awan of committing corrup- to visit UK in July peace in Afghanistan. He stan, Sheikh Saoud bin Abdulrahman bin Fais- tion. Later, in a tweet, Awan said Pakistan has rendered al Al-Thani, called on Prime Minister Imran claimed Mandokhel had used taff eport sacrifices of life and prop- Khan, on Thursday. The Qatari Ambassador S R foul language which angered erty for maintaining peace conveyed warm and cordial greetings from the ISLAMABAD: Prime Minister Imran Khan her and that only a one-sided in Afghanistan. Maulana Ta- Emir of Qatar, His Highness Sheikh Tamin bin is expected to visit United Kingdom next story was being shared in the hir Ashrafi said the Ulema Hamad Al-Thani, to the Prime Minister. Warm- month (July). Quoting sources, the a pri- video. She asked the TV chan- of both the countries have ly reciprocating the greetings, the Prime Min- vate television channel reported that British nel to release the full video. given unanimous stance ister underscored the importance of further Prime Minister Boris Johnson had extend- “During the talk show, PPP’s against the violence. deepening Pakistan-Qatar relations in diverse ed an invitation to his Pakistani counter- Qadir Mandokhel threatened fields including trade, investments and energy. part during a telephonic conversation. me. He insulted my late fa- People must ther and me by using abusive Continued on Page 06 Continued on Page 06 RAWALPINDI: Chief Of Army Staff General Qamar Bajwa in a meeting language. I had to take an ex- get 2nd with Chair, Polio Oversight Board, Global Polio Eradication Initiative, treme step in my defence,” President Global Development Programme, Bill and Melinda Awan tweeted along with a dose timely Gates Foundation (BMGF) Christopher Elias. – DNA video statement. Polio Eradication Initi- Army for supporting nation- Zubair Ahmed Nehal Miraj ative, President Global al polio drive and ensuring EU for probe ISLAMABAD: Parliamen- Development Programme, proper reach and coverage RAWALPINDI: Chief of Bill and Melinda Gates of polio campaigns this year, into origins tary Sec- Army Staff (COAS) Gen- retary for Foundation (BMGF) Chris- particularly through involve- eral Qamar Javed Bajwa topher Elias to him here ment of community leaders National of Covid on Thursday appreciated on Thursday, said an Inter and influencers. Health Ser- untiring efforts of the Bill Services Public Relations Moreover, he also appreci- vices Dr and Melinda Gates Foun- (ISPR) media release. ated Pakistan’s successful News Desk Nausheen dation (BMGF) towards The COAS acknowledged COVID-19 pandemic cam- BRUSSLES: European Un- Hamid on Thursday urged the noble cause of Polio the services rendered by paign and Pakistan Army’s ion (EU) leaders have called taking two doses of the eradication at global level Polio Health Workers for tremendous contribution for an unfettered investiga- vaccine is important and and assured of Pakistan polio eradication in Paki- to bring it within man- tion into the origins of the people must remember Army’s continued support. stan and said that it was na- ageable level. During the Covid-19 pandemic, first to take the second dose The Army Chief made tional cause and a national meeting, matters related to identified in central China, as a single vaccine dose these remarks during a effort. Christopher Elias Pakistan’s commitment for amid criticism of an initial will not provide sufficient call on paid by Chair, Polio conveyed the foundation’s comprehensive Polio eradi- immunity to protect from Oversight Board, Global appreciation for Pakistan cation were discussed. Continued on Page 06 coronavirus, she said while speaking to a Private news channel. She said Pakistan has achieved so far a target of 10 millionth of Covid-19 vaccine dose on Wednesday. Pakistan, Uzbek cooperation

Inside... in the SCO highlighted KP proposes The aim of the Webinar was to discuss the interaction development package for budget 2021-22 between Uzbekistan and Pakistan within the SCO – Page 02 (UWED) under the Ministry of Foreign Affairs of the Republic SEZ in Islamabad Special Correspondent of Uzbekistan. The aim of the Webinar was to discuss the in- under consideration: teraction between Uzbekistan and Pakistan within the SCO. Asim Bajwa ISLAMABAD: Pakistan and Uzbekistan share common in- In June 2017, Uzbekistan supported Pakistan’s election to – Page 03 terests and have deep-rooted cooperation within the frame- the SCO members and has paid special attention to this SBP issues Rs 70 work of the Shanghai Cooperation Organisation. issue during its presidency of the organization. commemorative coin There are diverse areas of cooperation in the frame- It is important to note here that IPDS has signed – Page 04 work that both Pakistan and Uzbekistan may ex- an agreement of cooperation with the SCO Cen- Environmental plore and build in this important regional tre for Public Diplomacy in Uzbekistan improvement is multilateral forum. to promote people-to-people ties. essential for future Both countries can build rela- Speakers of the webinar were – Page 05 tions in developing linkages of the view that both countries Sultans register on cultural, economic, diplo- supported each other on all in- important win over matic, political, security, peo- ternational and regional forums. ple to people, educational sec- The consistent Uzbekistan-Pa- – Page 06 tors, museums, parliamentary kistan relations are the manifes- PRGMEA wants linkages, developing linkages for digital libraries. tation of the long- term cooperation in strengthening government support These views were expressed by intellectuals and security, dynamic development of trade, economic com- for visa issuance academicians from Pakistan and Uzbekistan dur- municative relations, and humanitarian ties in the SCO – Page 07 ing the Webinar on the “Uzbekistan and Paki- region. Speakers also highlighted that both countries stan – Prospects for Cooperation within the SCO” Joe Biden, Boris are building mutually beneficial cooperation as a result Johnson hold first organized by the Institute of Peace and Diplomatic Studies of their geographical proximity and both are helping to pro- face-to-face talks (IPDS), Islamabad, and Shanghai Cooperation Organization mote regional peace and stability, including economic revival. – Page 08 (SCO) Center for Public Diplomacy in Uzbekistan in collabo- ration with the University of World Economy and Diplomacy Continued on Page 06 IslamabadPOST 02 NATIONAL Friday, June 11, 2021 ANF seizes Briefs 2424.466 FESCO issues kgs drugs shutdown DNA RAWALPINDI: Anti Narcot- schedule ics Force (ANF) Pakistan has FAISALABAD: The Faisal- seized 2424.466 kgs narcot- abad Electric Supply Com- ics valuing US $ 67.905 mil- pany (FESCO) has issued lion in international market, shutdown schedule for Fri- arrested 29 culprits including day due to necessary repair, a female and impounded 13 maintenance and expansion vehicles while conducting of electricity lines. 19 counter-narcotics strikes According to the schedule throughout the country. issued by the company, pow- According to an ANF spokes- er supply from Faisalabad man, the seized drugs com- Road feeder emanating prised 18.116 kgs Heroin, from 132-KV Chiniot Indus- 852.15 kgs Hashish & 1554.2 trial Estate grid station will kgs Opium. ANF Balochistan, remain suspended from 6 Police Station ANF Turbat a.m. to 12 noon while all seized a car near Puno Qil- feeders originating from laMerreKalatKacha track/ 132-KV Chak No.103-RB, road District Kech and recov- Lundianwala, Jaranwala and ered 340 kgs hashish. Scarp Colony grid stations In another operation, Police will observe 50-60 mega- Station ANF Quetta recov- watt load shedding from 6 ered 1508 kgs opium from a.m. to 9 a.m. on Friday. dry rainy nalla near KilliLal Similarly, electricity supply Muhammad Kala Karez at from BahmaniWala feeder ISLAMABAD: Prime Minister Imran Khan chairs a review meeting regarding facilitating investments. – DNA Tehsil & District Pishin. emanating from 132-KV ANF Punjab, Police Sta- Value Addition City grid sta- tion ANF Faisalabad raided tion will remain suspended near Gahwala Toll Plaza, from 5:30 a.m. to 2:30 p.m. arrested three accused Mu- whereas all feeders originat- hammad Jameel, Muham- ing from 132-KV Chiniot In- KP proposes development mad Ibrahim residents of dustrial and Chak No.126-SB Peshawar and Usman Khan grid stations will observe 25- resident of Swabialongwith 30 megawatt load shedding Hino Truck. During search from 6 a.m. to 12 noon on of the seized Truck 32.400 June 11, 2021. – APP package for budget 2021-22 kgs Hashish & 12 kgs Opi- um was recovered. PPP’s politics Under the package, the Government has decided to launch special projects related revolves to strengthening of livestock, fisheries and food security programs besides providing Minister around assistance to farmers under Kisan Cards to be issued by August this year directs timely personal gains PESHAWAR: Under the culture cover. He said these free milk, vaccination and nonproductive lands and in- lakes and favourable climate Feeds Research Institute completion of package, the Government meters would be installed medicines. creasing honey production. conditions mostly suited for and water management all schemes has decided to launch spe- under Irrigated Agriculture Quality seeds would be pro- Transfer of tube wells on so- trout fish farming. offices and storage of rain Shaheen Hanif cial projects related to Project. vided to farmers and for lar energy, research on dif- These trouts farms are be- water besides others agri- PESHAWAR: Minister for ISLAMABAD: Special Assis- strengthening of livestock, The Prime Minister’s Save this purpose initially 12,000 ferent varieties of vegetables, ing established under ‘de- culture, livestock and poul- Housing, Khyber Pakhtunkh- tant to the Prime Minister fisheries and food security the Calf, Poultry Programs metric tons seeds were be- establishment of Agriculture velopment of water fisheries try projects. wa, Dr. Amjad Ali Thursday on Political Communication programs besides providing and Feedlot Fattening pro- ing purchased for distribu- Mart at Peshawar, promoting in Khyber Pakhtunkhwa,’ Telefarming and integrat- directed the completion of Dr. Shahbaz Gill on Thurs- assistance to farmers under jects would continue and tion among farmers aimed aquaculture technology for project. Federal government ed Agriculture programme all ongoing housing schemes day said morally and finan- Kisan Cards to be issued by added that under Save the at to increase per acre increase fish production, es- would contribute Rs514.766 would be strengthened and without any delay with their cially corrupt Zardari gang’s August this year under the Calf Programme, about production of wheat, rice, tablishment of livestock and million and KP government services of model farms stipulated time frame. He politics revolved around Agriculture Transformation 3,80,000 male buffaloes maize and sugarcane etc. animal husbandry University would inject Rs772.148 mil- centres equipped with all fa- issued these directives while personal interests.Reacting Plan (ATP) approved by the calves would be fattened Focus would be made on in- at Swat were also proposed lion in the mega trouts pro- cilities would be expanded. presiding over a meeting of to the statement of Pakistan Chief Minister KP, officials in the country including creasing of orchards, estab- for ADP 2021-22. ject that would be completed Under Tele Farming Sys- the PHA here. Besides, Sec- People’s Party (PPP) Co- in Agriculture Department 30,000 in KP to increase lishment of agriculture busi- Around 287 trout fish farms by 2023-24. tem (TFS), tale farming retary Housing, Mohammad Chairman Bilawal Bhutto told APP on Thursday. meat production. ness authority and seeds mostly in Malakand and The department would set- centres equipped with web Ali Shah, Director General Zardari, he said that the per- Under ATP, 150 moisture The official said Rs6,500 industry in KP. Hazara Divisions would be up 250 civil veterinary dis- portal, mobile applications, (DG) Nadir Khan Rana, formance of a ‘Parchi’ Chair- meters would be installed to would be provided to reg- Government would estab- established with an estimat- pensaries, increasing meat, management information the representatives of oth- man also dubious like his ascertain level of moisture istered farmers following lish digital service platform ed cost of Rs1286.914 mil- milk and poultry’s produc- system and SMS have been er departments including election as chairman PPP. in lands across KP to bring their looking after for it besides focusing on reha- lion to utilize its abundance tion, extension of breeding established to facilitate local governments, law, In a statement issued here, maximum areas under agri- least six months besides bilitation of infertile and of cold water reservoirs, network, establishment of farmers. – APP P&D and finance also at- he said that Zardari par- tended the meeting. ty which was confined to The provincial minister said province in 2018, was that the objective of the now only limited to Larka- DC Faisalabad reviews KP CM okays master Housing Department was na.He said that those who the provision of residential sang the song of provincial facilities to general public, autonomy also looted in plan of New Balakot City government employees the name sovereignty.Dr. anti-polio campaign and particularly homeless PESHAWAR: Chief Minister Khyber Pakhtunkhwa Mahmood Khan Thursday agreed in poor people to accomplish Shahbaz Gill said PPP had principle to the proposed master plan for the completion of the New Balakot City pro - equally destroyed urban and The DC apprised the concerned AC on the all electoral commitments ject and directed the authorities to redress the legitimate concerns of the earthquake made in this regard. rural areas of Sindh, adding affectees of the old Balakot city. He further directed that the restoration of the confi - that those who have ruled identification of some issues during the campaign During the meeting, the dence of earthquake affectees should be the first priority in the overall plan of the pro - Minister for Housing, the province six times and by the WHO and asked them to rectifiy the issues ject. He was presiding over a high level meeting regarding NBCDP here in Chief Min - the federal government four who was chairman of the ister’s Secretariat. Beside, Chairman NDMA Lt. Gen. Akhtar Nawaz, Commissioner authority and other mem- times, have only robed the HazaraRiazMahsood, Administrative Secretaries of concerned provincial departments, people instead of launching bers reviewed all 8-agen- Director General ERRA, Director General PERRA, Chief Engineer New Balakot City da items in detail and people welfare projects. Project, concerned consultants and other relevant high ups also attended the meeting. He said that ‘Parchi’ chair- after scrutiny of some The meeting made a threadbare discussion on the progress made so far on the project, points gave them approv - man unwarranted criticism reasons for the delay in the implementation of the project, proposed feasibility study, on federal government was al in larger interest of the detailed design, master plan and other related matters to complete this project. – DNA a failed attempt to divert general public. – APP attention from the chaotic situation in Sindh. He said in- stead of creating drama in the media every day, the ‘Parchi’ chairman should be held ac- countable for his corruption. He question that when will situation without delay and adminstred first and second Bilawal Zardari account for Ishfaq Mughal report that there should be doze respectively. Rs. 5 billion money launder- no negligence in vaccinat- Commissioner ing in JV Opel-225 case?” FAISALABAD: Deputy Com- ing the children. constituted three- he raised question.He said missioner Muhammad Ali He said that the monitoring member committee PPP co-chairman is also in- has said that on the last day of the campaign was also un- Divisional Commissioner volved in 22 NAB inquiries of anti-polio campaign, moni- derway and the negligence SaqibManan has constituted and six other cases in which toring teams should go door were not due to departmen- a three-member committee Asif Ali Zardari was on bail. to door to ensure that chil- tal action. DHO Dr. Bilal headed by Director Devel- dren were vaccinated against Ahmad and others were opment, Dr. Naveed Iftikhar Case of Hindus’ polio while door marking present in the meeting. Aulakh to examine trans- should also be checked so Meanwhile Deputy Com- parency in the construc- murder that the no child left behind missioner informed that as tion work of development for any reason. He said this many as 7987 more people schemes under community in India while reviewing the targets of have been vaccinated yester- development and sustaina- wrapped up the ongoing anti-polio drive. day and so far 363105 per- ble development goals pro- The Deputy Commission- son had adminstered corona grams across the division. er apprised the concerned vaccine at 34 centers of the The committee comprises DNA Assistant Commissioner on district in which 329800 gen- of Deputy Director Techni- ISLAMABAD: The Su- the identification of some eral public and 33298 health cal and Assistant Director preme Court has disposed issues during the campaign workes included. Development. of a case of the savage mur- by the World Health Organ- He further informed that The Committee would der of 11 Pakistani Hindus ization and asked them to 271645 general public checked schemes randomly in India on the assurance rectifiy the issues and sub- had adminstered first and and submitted their report of the federal government mitted the detailed report. 58155 had second doze. within week.The committee saying that the court can- He urged the health depart- He informed that 20406 taking immediate notice of not interfere in the policy ment officials to rectify the and 12892 health workers some public grievances. matters of the government. A three-member Supreme Court bench headed by Jus- tice Umar Ata Bandial on Thursday heard a petition BankIslami transforms filed by SharmatiMakhni against the murder of her family members in India. The apex court said that the networking with Huawei Ministry of Foreign Affairs was looking into the matter advanced financial institu- the importance of digitiza- seriously. It said that the fed- Nazir Siyal tions providing verified, Sha- tion has become evident on eral government had assured riah-compliant products and us all. At Bank Islami, we are the court that it would order KARACHI: In its efforts to services to its customers. constantly in search for new an investigation into the kill- facilitate greater digital ena- This transformation of the horizons for bringing ease ings that happened in neigh- blement in Pakistan, BankIs- networking infrastructure and convenience to custom- bouring country through its lami, the country’s premier through an affiliation with ers through the power of dig- Foreign Ministry. Islamic finance institution, Huawei is a crucial step for ital channels. In our network The learned court said has made a sizeable invest- the Bank, and it is vital that transformation efforts, this that it could not interfere ment to upgrade its branch the branches cope up with affiliation with Huawei held in the policy matters of level connectivity infrastruc- the rapidly changing custom- utmost significance because the government. It further ture. After thorough tech- er behaviors and require- their robust hardware and said that the Foreign Min- nical evaluations and proof ments. Huawei’s networks expertise will enable us to istry was looking into the of concepts, the Bank has are extensively used within strengthen our services fur- matter seriously. migrated its entire WAN to the telecommunications in- ther.” Mr. Gaoweiji who is The counsel for the peti- Huawei, including branch dustry. They have cement- the Management Director of tioner, Syed Qalb Hassan, Routers and Switches across ed a reliable reputation for Enterprise Business Group said that his client want- all physical locations in Paki- themselves over the years mentioned, “Huawei has ed the foreign minister stan. The Bank aims to build and this consistent more than 23 years of expe- to talk to the Indian gov- a robust system for custom- of quality is what caught rience, working in Pakistan. ernment on this matter. er facilitation and routine BankIslami’s attention. We have proudly been stand- Justice Mansoor Ali Shah operation of business. Commenting on the develop- ing alongside our esteemed questioned what the court BankIslami has quickly be- ment, Syed Amir Ali, Presi- customers in the various could do in this matter. come one of the leading dent and CEO, BankIslami digital transformation steps and most technologically stated; “In the last few years, taken during this period. 03 IslamabadPOST

METROLITEFriday, June 11, 2021 JCP suggests Briefs Ameer Govt. to take SEZ in Islamabad under Bhatti for initiatives CJ LHC for youth consideration: Asim Bajwa DNA ISLAMABAD: The Judicial development He said that there are no plots left in the Islamabad industrial area which Commission of Pakistan (JCP) on Thursday recom- DNA is hampering expansion and new investments mended the name of Justice ISLAMABAD: The govern- investments. Therefore, he said, Muhammad Ameer Bhatti ment has taken special in- Zubair Ahmad a new industrial estate should as Chief Justice (CJ) Lahore itiatives for Youth Develop- be established on CPEC route at High Court (LHC). ment and created sufficient ISLAMABAD: Chairman CPEC Hakla D.I Khan Motorway so that A meeting of the JCP employment opportunities Authority Lieutenant General new industrial units could be es- chaired by Chief Justice of for youth by using resourc- (retd) Asim Saleem Bajwa on tablished there as land is already Pakistan Gulzar Ahmed con- es, last year. According to Thursday said all out efforts are available there. Tariq Sadiq said sidered the nomination of Economic Survey of Paki- being made to speed up industrial- that we have identified site at Hak- the new chief justice of the stan 2020-21 announced ization under China-Pakistan Eco- la D.I Khan Motorway while CDA LHC. It is pertinent to men- here on Thursday by Min- nomic Corridor, a flagship project and RDA are also in process of tion here that incumbent istry for Finance and Rev- of the Belt and Road Initiative. studying the proposals. LHC Chief Justice, Justice enue Shaukat Tarin, the Promotion of industry is a key Asim Saleem Bajwa informed Muhammad Qasim Khan is government has accorded target for CPEC which is imper- that CPEC Authority is already retiring on July 05. highest priority, in its man- ative for the economic develop- studying proposal regarding es- The judicial commission’s ifesto, to youth empower- ment, revenue enhancement and tablishing Special Economic Zone meeting has recommend- ment at national level. job creation, he said. in Islamabad and if found feasible, ed the name of Justice To accomplish the vision Asim Saleem Bajwa said private an industrial zone would be es- Ameer Bhatti for the new of the Prime Minister, Na- investors would be encouraged tablished to fulfil the demand of chief justice of the Lahore tional Youth Development for joint ventures; however, the industrialists of Islamabad. High Court. Justice Bhatti Framework (NYDF) was de- maximum focus would be on the He informed that the government is currently senior Puisne veloped on the basic princi- industries that could support im- has allocated Rs87 billion in the judge in the LHC. He had ples of Education, Employ- port substitution or boost exports. upcoming budget for execution of joined the high court as an ment and Engagement. This he said while talking to a del- CPEC projects and we are expect- additional judge on March The government has de- egation of leading industrialists of ing increased Chinese investments. 12, 2011 and will retire on signed a comprehensive Islamabad led by President ICCI Bajwa said China was also cooperat- March 7, 2024. program “Prime Minister’s Sardar Yasir Ilyas Khan. President heed, Chief Coordinator IAA Ma- ered and a new industrial estate Bajwa of the problems confront- ing with Pakistan in the agriculture Kamyab Jawan Program” Islamabad Industrial Association lik Sohail Hussain, were also pres- will be established for them after ed by their community. He said sector and supporting in cotton Rs. 8.6 bln for youth development. (IIA) Tariq Sadiq, Senior Vice ent at the occasion. He said that studying their proposal in detail. that there are no plots left in the seed development while many Chi- The components of the pro- President IIA Omais Khattak, the demand of industrial commu- Earlier Khalid Javed, a noted in- Islamabad industrial area which nese investors are keen to invest in disbursed gramme including, Prime Khalid Javed, Sheikh Amir Wa- nity of Islamabad will be consid- dustrialist, apprised Asim Saleem is hampering expansion and new modern corporate farming. Minister’s Hunarmand under KJP Programme (Skill for All), ISLAMABAD: The govern- Prime Minister’s Youth APHC pays tributes to ment of Pakistan Tehreek- Entrepreneurship Scheme Finding creative solutions for e-Insaf has disbursed a (YES), Prime Minister’s large number of soft loans Start up Pakistan, Prime Chotta Bazaar martyrs amounting to Rs 8.6 billion Minister’s Green Youth approximately among the Movement (GYM), Prime Society concludes at NUST Staff Report qualified entrepreneurs of Minister’s National Intern- the Youth Entrepreneurship abnormalities in the hu- set of industries, which vation and Commercializa- ISLAMABAD: In Indian Illegally Occupied Jammu and ship Program, Prime Min- Staff Report man anatomy. includes seed fund for the tion particularly urged S&T Scheme (YES) of the Prime ister’s Youth Engagement Kashmir, the All Parties Hurriyat Conference (APHC) and Minister’s Kamyab Jawan The winning team was promising projects. FICS universities to play an in- other Hurriyat leaders and organizations have paid rich Platform (Jawan Markaz). ISLAMABAD: The final awarded a cash prize of Rs ’21 sponsors and partners strumental role in bringing Programme (KJP). The government has al- tributes to the martyrs of Chotta Bazaar, Srinagar. It was The disbursement was made round of Finding Innovative 100,000, sponsored by Na- included NRTC, Central about improvements to the on June 11, 1991, the Indian paramilitary CRPF troops ready launched two of the and Creative Solutions for tional Radio Telecommuni- Asian Cellular Forum standard of lives of commu- to various businesses till April components under Prime went berserk, and opened indiscriminate firing with their 2021, said the Economic Society (FICS ‘21) was held cation Corporation (NRTC). (CACF), Graana, SI Global nities at large through tech- automatic weapons all the way from their camp at Syed Minister’s Kamyab Jawan at the main campus of Na- In addition, 3 runners-up Pvt. Ltd. iEngineering Pvt. nology-based innovation Survey 2020-21 launched by Programme i.e., Youth En- Mansoor to the densely populated downtown area of Srina- Minister for Finance and Rev- tional University of Scienc- and 2 winners of Special Ltd. Arkhitech, and Alfoze and entrepreneurship. gar of Chotta Bazaar killing 32 innocent civilians and criti- trepreneurship Scheme es and Technology (NUST) Categories in SDGs were Technologies Pvt Ltd. He said FICS is a perfect enue Shaukat Tarin in a news (YES) and Hunarmand Paki- cally injuring 22 others, KMS reported on Thursday. conference on Thursday. here on Thursday. awarded a cash prize of Rs President Islamabad Cham- example of the entrepre- The bullets hit shopkeepers, passerby, a 75-year old stan (Skills for All) whereas FICS is NUST’s flagship pro- 50,000 and Rs 25,000 re- ber of Commerce and In- neurial ecosystem, con- The survey was launched Prime Minister’s Start up woman and a child of ten years age. to highlight the economic gramme for stimulating inno- spectively. dustry (ICCI), Sardar Yasir sisting of many critical The APHC spokesman in a statement issued in Srinagar, Pakistan is in final stages. vation and fostering a culture A total of 61 finalist teams Ilyas Khan, commended the components, working effi- achievements of the pres- while referring to the bloodstained history of Kashmir, ent government from July of social entrepreneurship. of FICS ’21 demonstrated efforts of NUST for building ciently in unison to create said that the Indian fascist rulers should learn a lesson The event was held while their prototypes of technol- trust between industry and the desired output. to March of the fiscal year Clean from their own freedom history which has witnessed a 2021. The YES, rolled out by strictly adhering to SOPs in ogy-based innovative solu- university. Mr. Sardar was He complimented the win- single Jalian Wala Bagh incident where the freedom move- Green Index the wake of COVID-19. tions to a panel of 29 indus- extremely pleased with the ners and runners-up for the present government in ment of Kashmir carries in its lap scores of such incidents collaboration with the State The overall winner of FICS try judges. The top teams quality of prototypes dis- pulling through the rigorous of bloodshed at the hands of Indian forces. launched ’21 was Team MRI Coils have also been awarded a played at the Grand Finale. 3-stage competition, and Bank of Pakistan, was aimed The spokesman, memorizing the gallantry ventures of at empowering the youth by ISLAMABAD: The Clean from NUST RIMMS that six-month free incubation He assured NUST of his acknowledged the efforts the freedom-loving people of Kashmir, saluted their Green Pakistan Index and competed amongst as many space at TechOne – NUST’s complete support and con- of faculty supervisors and extending affordable financ- valor and said that no power on earth can imagine to ing for new and existing Champions Programme as 257 teams that pitched Incubation Centre. tinued interaction in order the management of NUST defeat the Kashmiris’ resistance movement. under the Clean Green Pa- project ideas during the Apart from the Prototype to take this initiative to new Schools and Colleges. start-ups. – APP kistan Movement (CGPM) three-stage competition. Development Fund (PDF) heights. Addressing the He also made a special have been launched across The project has developed sponsored by the NRTC, audience, the chief guest, announcement that FICS the country to initiate one of the most promising FICS is fortunate to have Dr. Rizwan Riaz, NUST 2022 will be an internation- healthy competition among image modalities to detect patronage from a diverse Pro-Rector Research, Inno- al level competition. the cities to improve planta- tion and cleanliness. The programme was led Govt for by the Ministry of Climate SECP warns public against Change (MoCC) that started 100 job Clean Green Pakistan Index for ranking the cities against illegal deposit taking placement the performance of five pil- latory approvals. General Marwat Imports/Exports lars of Clean Green Pakistan Shaheen Hanif public is advised in their (Private) Limited Shaukat centres i.e., drinking water, sanita- own interest to be careful, Marwat Restaurants (Private) tion, hygiene, solid waste ISLAMABAD: The Secu- not to deal and invest in Limited, Shaukat Marwat Ho- DNA management and plantation. rities and Exchange Com- illegal schemes offered by tels (Private) Limited. ISLAMABAD: The govern- The Index was calculated by mission of Pakistan (SECP) companies involved in any The SECP has observed ment has set up more than comparing the cities with 35 has clarified that mere reg- illegal deposit taking, unau- that the aforementioned 100 job placement and vo- quantifiable performance in- istration of a company with thorized investment or Mul- companies are using their cational counseling centres dicators. The pilot phase of SECP did not authorize it to tilevel Marketing (MLM). registration with SECP across the country to facil- the Index has been success- seek deposits from the gen- The SECP while exercising and FBR to win public con- itate the youth in getting fully implemented in 20 cit- eral public. Deposit taking its regulatory powers to curb fidence and are soliciting employment in local and in- ies of Pakistan during 2020 by companies other than illegal deposit taking in the financing through unauthor- ternational markets. In ad- in Khyber Pakhtunkhwa and banking companies is illegal country has taken stern ac- ized investment schemes dition to this, the NAVTTC Punjab and was concluded in terms of section 84 of the tions against Shaukat Mar- through Facebook groups has developed a job portal in October 2020. Companies Act 2017, said a wat Group comprising of the and posts on social media. to connect the job seek- It was now being scaled press release issued here. following companies found SECP has issued a direction ers with local and foreign up in 93 cities of Pakistan Furthermore, financial ser- involved in illegal deposit tak- under section 474 of the employers at a common across the country from vices including car financ- ing: Shaukat Marwat Group of Companies Act, 2017 to the platform. It was revealed in 2021. “The CGPI is becom- ing, leasing, acceptance of Companies (Private) Limited, aforementioned Companies the Economic Survey 2020- ing a key tool for integrating deposits, house financing Shaukat Marwat Estates and to refrain from soliciting 21, launched by Minister mutual accountability mech- etc. can only be offered by Builders (Private) Limited, deposits and refund the for Finance and Revenue anisms of water, sanitation specialized companies hold- Shaukat Marwat Transports amount, if any, collected Shaukat Tarin in a news and hygiene (WASH) in Pa- ing valid license and regu- (Private) Limited, Shaukat from the general public. conference on Thursday. kistan,” it added. – APP 10,000 startups for Investors urged to capitalize youth to be launched on tourism potential in KP

Staff Report Zubair Ahmad ISLAMABAD: The gov- ernment will soon roll ISLAMABAD: Mushtaq out a comprehensive pro- Ahmed Ghani, Speaker KPK gramme to impart entre- has asked the business com- preneurial skills to one munity of Islamabad to ex- million youth for ensuring plore and capitalize on the launch of 10,000 startups tourism potential in Khyber in the country by 2023. Pakhtunkhwa as the province A national startup ecosystem offers tremendous opportuni- would be developed under ties of investment in tourism the Prime Minister’s Start- and many other sectors. He up Pakistan initiative of the was addressing the business Kamyab Jawan Programme, community during his visit to aimed at spurring job crea- Islamabad Chamber of Com- tion and economic activities merce & Industry (ICCI). in an inclusive, scalable and Mushtaq Ahmed Ghani said sustainable way, said the that ICCI should come up Economic Survey 2020-21 with a proposal for invest- launched by Minister for Fi- ment in KPK and assured nance and Revenue Shaukat that he would fully support Tarin in a news conference them in exploring JVs and producing positive results of the economy and the gov- Sardar Yasir Ilyas Khan, Pres- on Thursday. investment in his province. as it has helped the local ernment was working for ident, Islamabad Chamber of The survey was launched He said that there were industry to get a boost. He creating a more conducive Commerce & Industry (ICCI) to highlight the economic many avenues of invest- also briefed the business environment for them. He said that many investors of the achievements of the pres- ment for the business com- community about religious fully endorsed the ICCI pro- federal capital were interested ent government from July munity on public private tourism potential in KPK posal for a 2 percent fixed to invest in tourism, hospital- to March of the fiscal year partnership basis in KPK as it possessed many his- tax for traders in the com- ity and other sectors in KPK 2021. The programme, that should be exploited torical places for the fol- ing budget that would broad- and stressed that the provin- which was in final stages, for business promotion. He lowers of various religions. en the tax base and improve cial government should focus would be executed by HEC. said that the government’s He termed the business tax revenue of the country. on more conducive policies to drive against smuggling was community as the backbone Speaking at the occasion, attract more investors. IslamabadPOST 06 WORLD / SPORTS Friday, June 11, 2021 Faheem Briefs rules out Windies look Sultans register important of PSL 6 to pounce on Sports Desk unsettled SA ABU DHABI: Islamabad win over Karachi Kings United’s all-rounder Fa- heem Ashraf has been Sports Desk Chasing a target of 177 runs, Karachi Kings were off to a horror start as the ruled out of action after GROS-ISLET: West Indies suffering from an injury in start a two-Test contest batsmen failed to find boundaries. Opener was the first to depart his left hand. against South Africa on The 27-year-old Faheem Thursday with the home as a return shot from fellow opener Babar brushed the hands of pacer Imran Khan received a blow during last side believing they have night’s match vs Lahore Qa- their best chance in 30 scoring 35 runs off 23 balls. landars. He got five stitches years of overcoming the un- Sports Desk Pacer Imran Khan then removed due to split webbing. settled visitors in a series at all-rounders Thisara Perera and “Faheem had already the Daren Sammy ABU DHABI: Multan Sultans in consecutive balls bowled his first two overs Ground in St Lucia. registered an important 12-run as Multan Sultans got closer to when he suffered the injury, Kraigg Brathwaite’s team victory against Karachi Kings wrapping up the match. and he immediately left the are unbeaten in their last to keep their hopes alive in All-rounder Qasim Akram scored field. The all-rounder had four Tests – a 2-0 triumph the (HBL) 10 runs off three balls in the final suffered a split between his in Bangladesh and drawn (PSL) over before being caught by field- thumb and index finger and matches at home to Sri Lan- season six during their encoun - er . five stitches have been ap- ka. They go into the cam- ter in Abu Dhabi on Thursday. remained unbeaten in plied to the deep cut. paign ranked just ahead of Chasing a target of 177 runs, the end after scoring 85 runs off The injury means he is a Proteas team reeling from Karachi Kings were off to a 63 balls as Karachi Kings finished likely to miss game time in successive heavy defeats in horror start as the batsmen on 164 runs for the loss of seven ’s forth- two Tests in Pakistan. failed to find boundaries. in their allotted overs. coming matches,” United They also have senior open- Opener Sharjeel Khan was the Imran Khan was the pick of the said in a press release. It ing batsman Dean Elgar first to depart as a return shot bowlers for Multan Sultans after must be noted that United installed as Test from fellow opener Babar Azam taking three wickets. lost to Qalandars by five following the retirement of brushed the hands of pacer Earlier, After winning the toss wickets yesterday. Faf du Plessis from the tra- Imran Khan and crashed into and opting to field first, skipper ditional format. West Indies the stumps as the batsman was Imad Wasim got his side to a Pak, Uzbek suffered a setback leading caught out of his crease at the great start. Opener Mohammad into the opening Test when non strikers end. Veteran bats- Batsman Najibullah Zadran tried Babar Azam was then joined by become too steep as the bats - Rizwan survived a close shout cooperation their fastest bowler, Shan- man Martin Guptill could not in vain to up the ante, being ad- wicketkeeper-batsman Chadwick men struggled to provide a for an LBW before Imad re- non Gabriel, was ruled out get going either, being bowled judged LBW while trying to hit Walton for a big partnership of fiery ending to the chase. moved opener Rahmanullah Gur- in the SCO... through injury. It opens the by leg-spinner after a reverse sweep on Imran Tahir 77 runs off 45 balls. Chadwick Walton was eventual- baz (three off four), by prospect of 19-year-old pacer scoring just 11 runs off 16 balls. after scoring 11 runs off six balls. The asking rate however had ly run-out towards the end after wicketkeeper Chadwick Walton. From Page 01 Jayden Seales making a Test The speakers of the we- debut although his lack of ex- binar were Mr. Kabuljon perience – he has played just Azerbaijan, Bosnia Sabirov, Director of the one first-class match – could Nine dead after bus crushed in Center for Public Diplo- see the selectors opting for mull border tensions, macy of Shanghai Coop- Alzarri Joseph. eration Organization in regional situation South Korea building collapse Uzbekistan, Mr. Komiljon Pakistan Karimov, Rector of the street next to the demoli- construction site, said he officials said. University of World Econo- Izetbegović stated that he Web Desk tion site in Gwangju, some ran outside, jolted by the All the workers on the dem- economy my and Diplomacy, PhD in paid his second visit to 270km (168 miles) south- loud noise that made him olition site had been evacu- Political Sciences and Mrs. SEOUL: At least nine peo- west of the capital, Seoul, feel as if “the earth was ated before the collapse. Farhat Asif, President rebounds... Azerbaijan and witnessed the ple were killed and eight officials at the Gwangju shaking”. South Korea has been tak- of the Institute of Peace seriously injured in South development in the country Fire and Safety Headquar- “I could not see the road ing steps to improve its in- and Diplomatic Studies From Page 01 Korea when a five-storey ters said. clearly, as if it were shroud- frastructure safety record BAKU: Azerbaijani Foreign Minister Jeyhun Bayram- (IPDS), Prof. Shaukat Tarin said FBR col- building – which was in the Dramatic television footage ed in thick fog,” he told following a number of dis- ov and Speaker of the House of Peoples of Bosnia and Dr. Adam Saud, Dean, lection has seen an increase process of being demol- showed the bus, which had Yonhap news agency. “I asters. Herzegovina’s Parliamentary Assembly BakirIzetbe- Faculty of Humanities and of eighteen percent as com- ished – collapsed suddenly 17 people on board, being checked the CCTV to find A department store collapse gović have discussed the Armenian-Azerbaijani border Social Sciences, Bahria pared to the last year. The onto a bus, officials at a lo- buried in debris and smoth- out that the building col- killed more than 500 peo- tensions and the regional situation. At a meeting, Bay- University, Islamabad, revenue collection has so cal fire station said. ered by a huge cloud of dust lapsed onto a bus.” ple in 1995, the country’s ramov spoke with satisfaction about the friendly and co- Shonazar Ermamatov, far reached 4.2 trillion ru- The accident happened on as the structure gave way. The reason for the collapse worst peacetime disaster. A operative relations between Azerbaijan and Bosnia and PhD in economics, Head pees, expressing the confi- Wednesday afternoon when Yang Ik-je, who runs a shop was unclear, and a police bridge collapse the year be- Herzegovina. He said that the continued support of the of the Department of dence that it will exceed the the bus was stopped on the across the road from the investigation is under way, fore killed 49 people. target of 4.7 trillion rupees two countries for each other’s sovereignty and territorial Economy of the Eastern by the end of this financial integrity, along with respect for the basic principles of countries of the Tashkent year. During the current fis- international law is at the heart of bilateral relations. State University of Ori- cal year, the total revenue Bayramov briefed Izetbegović on the current regional situ- UEFA tells Ukraine to remove ental Studies (TSUOS), as percent of GDP stood at ation, especially the recent Armenian-Azerbaijani border Prof. Dr. Zahid Anwar, 15.1 percent whilst total ex- tensions, as well as Azerbaijan’s adherence to a negotiated Director, China Studies penditures at 23.2 percent. settlement of the existing disagreements, the landmine threat ‘political’ slogan from Euros kit Centre, University of Pe- Thus, fiscal deficit stood at in the liberated areas, and the restoration in Karabakh. Izet- shawar, Mrs. Nargis 8.1 percent. begović stated that he paid his second visit to Azerbaijan and LONDON: UEFA, the governing body of European football, has ordered Ukraine to remove a “political” slogan from its Muminova, PhD in politi- During July-March of this witnessed the development in the country. He noted that Bos- national football kit for the upcoming Euro 2020 tournament. The message “Glory to our Heroes”, printed on the inside of cal science. Senior Lectur- fiscal year, expenditures un- nia and Herzegovina supports Azerbaijan’s position, which is the shirt, was “clearly political in nature”, UEFA said on Wednesday. The slogan was widely used as a rallying cry during a er, UWED, Prof. Dr. Amna der the PSDP stood at 653.9 based on international law. Speaking about his visit to liberat- 2014 popular uprising in Ukraine that removed Kremlin-backed leader Viktor Yanukovich. UEFA’s move came after Russia Mahmood, Dean, Faculty billion rupees. ed Aghdam region as part of his official visit to Azerbaijan, the sent a letter of complaint to the governing body on Tuesday over the yellow jersey, which also features of Social Sciences, Inter- Shaukat Tarin said remit- speaker expressed regret about the scale of the destruction in an outline of the country’s borders that includes Russia-annexed Crimea and the separatist-con- national Islamic Universi- tances grew by 29 percent the liberated lands. Izetbegović accentuated the importance of trolled regions of Donetsk and Luhansk. UEFA said the map was not a concern because a UN ty, Islamabad, Mrs. Etibor this year, which shows finding a common ground for coexistence with neighbouring General Assembly Resolution “recognises the territorial borders as broadly depicted by the Sultanova, PhD in Political overseas Pakistanis’ trust countries while referring to his country as an example. design”. It also ruled that a phrase featured on the outside of the shirt – “Glory to Ukraine” – Science, Professor of the in Prime Minister Imran The sides also discussed prospects for the development was acceptable as on its own, it may be consid- ered as a “generic and non-political phrase of UWED, Kutbitdinov Yuri Khan. He said the remit- of bilateral relations, and cooperation within interna- general national significance”. That chant was also used by protesters who rallied against Ya- Shakhobutdinovich, Chief tances have so far reached tional organizations. It was underscored that reciprocal nukovich during the so-called Maidan revolution seven years ago. However, the governing body Researcher of the Center 26 billion dollars and these opening of embassies in both countries will have a pos- said the “specific combination” of the two slo- gans featured on the shirt was “clearly political for Economic Research- are expected to increase itive impact on the development of bilateral relations. in nature” and had historic and militaristic signif- icance. It said the “Glory to our Heroes” slogan es and Reforms under to 29 billion dollars by the Azerbaijan and Armenia have failed to come to an agree- featured inside the shirt must therefore be removed. Russia immediately welcomed UEFA’s move, with the Administration of the close of this fiscal year. ment on the demarcation of their state border following foreign ministry spokesperson Maria Zakharova saying that sport should not be mixed with politics. “Sports is not a bat - President of the Republic The Survey revealed that the collapse of the Soviet Union. The tension over bor- tlefield, but a place for competition; it is not a political arena but an athletic one. Become heroes of sports and you will of Uzbekistan and Prof. Pakistan’s exports bounced der delineation gained a fresh momentum following the have your glory,” she said. “Do it that way and not with nationalist slogans.” Ukraine had said the shirt was a symbol of Dr. Muqarrab Akbar, back after a sharp hit during end of the Second Karabakh War in 2020. – DNA national unity, and President VolodymyrZelenskyy posted a selfie on Instagram with the kit on this week. Chairman, Department of strict lockdown in the last Political Science, Bahaud- fiscal year, mainly due to ex- din Zakariya University, port oriented government Zhara Music Festival Multan. A large number policies and strong eco- of academicians, faculty nomic recoveries. By April, members participated in exports were amounted to changes venue this important webinar. 20.9 billion dollars as com- tickets are valid and will pared to 18.4 billion dollars DNA be transferred to the con- PM Imran in the same period last year cert hall according to the which shows an impressive BAKU: The fifth Zhara In - selected categories. We likely to... growth of 13.6 percent. ternational Music Festi- apologize for any incon- The imports stood at 44.7 val will be held in Crocus venience caused. billion dollars during the From Page 01 City Hall on June 23-27. At Crocus City Hall, we can Sources further said that ten months of current fiscal Initially, the festival was provide all the necessary se- PM Imran had been invit- year as compared to 37.9 planned to be held in Lu - curity measures for the fes- ed to watch Pakistan-Eng- billion dollars in the same zhniki complex. tival,” said Emin Agalarov. land One Day Internation- period last year. However, the event organ- The festival’s fifth edition al (ODI) scheduled to be He said the inflow of dollars izers decided to change was planned to be held in played on July 8. including through exports venue amid epidemiologi- Baku but was cancelled However, the sources made helped maintain the current cal situation in Moscow. amid the coronavirus pan- it clear that the prime minis- account deficit in surplus “Due to the unstable epi- demic. The gala event is ex- ter’s UK tour had not been over the last ten months. demiological situation in pected to take place in the finalised as yet as ‘schedul- Foreign Exchange Reserves Moscow and the impossi- Luzhniki Olympic Complex ing’ was still continuing. stood at 22.7 billion dollars bility of holding the event on June 23-27. PM Imran is likely to dis- in the first ten months of cur- in the format we have The music festival will fea- cuss matters of mutual in- rent fiscal year. Out of this, planned, Zhara Interna- ture numerous concerts terest such as trade with the SBP’s reserves were tional Music Festival has with more than 200 pop PM Johnson during his visit 15.6 billion dollars whereas been moved to Crocus singers from the CIS coun- to the UK. reserves held with the com- City Hall. The dates of tries. However, music lovers mercial banks were 7.1 bil- MECCA: Noor-ul-Haq, Federal Minister for Religious Affairs and Inter-faith Harmony Pakistan the concerts and the pro- in Baku have a chance to en- lion dollars. Pakistan’s rupee and senior clerics from Saudi Arabia and Afghanistan present in MWL’s ‘Declaration gram remain unchanged. joy the music festival at Sea Pak, Qatar strengthened against the All previously purchased Breeze resort next summer. dollar, effectively appreciat- of Peace in Afghanistan’ Conference. – DNA enjoy... ing the rupee by 9.5 percent. From Page 01 Approves The Prime Minister also appreciated the role of $772 m credit ISE REIT hails new amendments to REIT regulation Qatar in hosting a larg - lic funds. In Pakistan, almost all provinces es to investors looking for sustainable and have removed all impediments faced by er number of Pakistani for Angola DNA and the federal governments have now consistent returns. At the end, Mr. Zahid bonafide potential issuers and the sector workers. Pakistan and Qa- WASHINGTON: The Inter- adopted the PPP laws, which had more or Latif Khan appreciated the untiring efforts may witness growth in the coming finan- tar enjoy vibrant bilater- national Monetary Fund has ISLAMABAD: The new reforms to the less remained unattractive because of re- of the REIT department of the SECP, the cial year. The new model would create al, political and economic approved the immediate dis- REIT Regulations notified by the SECP, quirement of high finance from the private Commissioner Specialized Companies Divi- further flexibility, efficiency and ease of relations. bursement of $772 million have the potential to unleash an unprece- sector. With recently introduced REIT Reg- sion Mr. Farrukh H. Sabzwari and the Chair- doing business to enable REITs to com- to Angola as part of a three- dented boom in the real estate sector of the ulations amendments, the private sector man SECP Mr. Aamir Khan, for introducing pete with the relatively unregulated and EU for year arrangement signed in country. This was stated by Mr. Zahid Latif would be able to tap the markets and raise futuristic REIT Regulations. Earlier To pro- informal real estate sector of the country. 2018 to reform its economy. Khan, Chairman ISE Towers REIT Manage- money for projects. In the developed mote investment in the real estate sec- The new procedure would also reduce reg- probe into... It was the latest tranche of ment Company, while talking to reporters. world, hospitals, roads, airports and tor through Real Estate Investment ulatory approvals and rationalise various a $3.7 billion facility granted The REIT model has been revamped by in- even jail projects are done through Trusts (REITs), the Securities and document submission requirements, the to the southern African na- troducing pro-business changes including REITs in PPP mode. Exchange Commission of Pakistan chairman SECP added. From Page 01 tion to improve governance for the first time, the launch of infrastruc- Talking of the plans for the launch (SECP) has introduced a new Pub- According to the SECP, the amendments World Health Organisation and diversify its economy to ture REITs on Public Private Partnership of REIT Scheme(s) by ISE RMC, lic Private Partnership (P3) mod- have shifted the regulatory structure probe. “Investigators need promote sustainable, private (PPP) model, REIT Scheme through invest- the Chairman said that he plans to el under the REITs, besides com- from approval-based to disclosure-based complete access to whatev- sector-led economic growth, ment in Special Purpose Vehicle, adding call a Board strategy session soon pletely revamping the regulatory issuance, reducing entry barriers for new er is necessary to really find the Fund said in a statement the real estate to existing REIT Scheme(s) so that we could become the first framework for REITs. REITs, making REITs competitive with the source of this pandem- Wednesday. The Fund’s thereby ensuring growth for investors, al- REIT to avail the opportunities cre- The SECP Chairman, Aamir Khan, the unorganised sector-led real estate ic,” European Commission board also indicated it favors lowing uncapped financing, relaxed regu- ated under the revamped Regula- told media that the REITs sec- projects, cutting down regulatory approv- President Ursula von der an extension of the country’s latory approvals and territorial limits etc. tions for making an entry tor has significant po- als and attracting domestic and foreign Leyen told a news confer- debt service moratorium un- The process to launch the REIT Scheme to the stock market. He tential to contribute investment into the formal real estate ence in Brussels. til the end of December 2021. has been made easy and simple. said that due to the to the growing sector of the country. Reuters reports the head With the Covid-19 pandemic, Mr. Zahid Latif Khan said that the PPP mod- current low interest housing and infra- The regulations have been finalised af- of the European Council, the IMF had also authorized el is revolutionary from the perspective that rate environment, structure needs of ter extensive consultations with all the Charles Michel, said: “The a credit increase of $765 mil- globally the PPP model is considered best the rental REITs the country. stakeholders, with a view to bring in world has the right to know lion to help Angolan authori- for all sort of infrastructure developments would be able to He expressed amendments in conformity with domestic exactly what happened in as it paves the way for the private sector ties fight the disease. – APP offer competitive confidence that market conditions and in sync with global- order to be able to learn investment and reduces burden on the pub- investment choic- the amendments ly-recognised norms. the lessons.”