Pakistan Economy - News & Updates - Archive

[Neo]

Karakoram Highway expansion to raise trade volume manifold ​

BEIJING (July 13 2007): China's Xinjiang Autonomous region economic activities are growing steadily with its bordering states and Kashghar, as a hub of economic trade contributing significantly.

Pakistan is the third largest trading partner of Xinjiang and both the sides see that on completion of Karakoram Highway (KKH) expansion project the volume of trade through land route would increase manifold.

"The location of Kashghar is just like a bridge, as it connect Pakistan with western regions of China, Central Asian Republics to West Asia, South Asia and Middle East, while Xinjiang lies at the heart of the Silk Road", said a senior official of Pakistan Mission here, who addressed the "China-Pakistan Land Route Trade Convenience Development Forum" at the just concluded Third Kashghar Central and South Asian Commodity Fair.

Although, Pakistan is the third largest bilateral trade partner of Xinjiang, after Kazakhstan and Kyrgystan our contribution is just 4.2 percent of their total bilateral trade, he said in an interview with the APP.

There are many complementarities between Xinjinag and Pakistan we have around 450 million dollars trade, but the prospects to enhance its volume are very bright. "If sustained efforts were made, there is lot of potential to tap this important regional market by introducing our products in large scale," he noted.

To further enhance the trade, he said it had also been decided during a meeting with the Secretary of CPC and Commissioner Kashghar to hold exhibitions in each other countries and also traders belonging to Pakistan and China exchange maximum visits.

In this connection, he said China would hold an exhibition of its commodities in Lahore in the second half of current year and Pakistan would reciprocate by holding an exhibition of its products in Kashghar.

He pointed out that to enhance trade through land with China, a project to expand Karakoram Highway was underway and would be completed by 2010, and said that both sides were desirous to utilise this land route to the maximum.

He said Pakistan had also proposed lying of railway line between Xinjiang and Pakistan and Chinese also supported the idea and were of the view to work on this project as well.

Pakistan, he said had already taken initiatives in this regard as it was working on a pre-feasibility study for lying track so that in future the railway link was also available between Pakistan and China running along KKH. Pakistan, he said was in process of developing a North South Strategic Economic Corridor, which could be extended from Kashghar to Uremqi for goods transport operation.

He said there was a desire from both sides for opening of goods transportation from Kashghar to Pakistani ports at Karachi and Gwadar and a decision in this regard would benefit both the Chinese Businessmen/Transport Operators and their Pakistani counterparts for exporting their goods to each other's markets through this route.

Pakistan also proposed setting up Joint Freight Forwarders Council to promote and encourage trade among member states through effective utilisation of KKH. He pointed out that keeping our trade statistics with China from Xinjiang in perspective, it was important that we pay maximum focus and take advantage of the land route trade.

In this connection, he pointed out that Pakistan had constructed dry-port facilities at Sust, while China provided similar facilitation at Tashkurgan.

He also stressed the need for improving banking and transport facilities on both sides and utilising the existing port facilities in a more efficient manner. Regarding introduction of Kashghar-Islamabad route, he said there was a need for commencing transport operation as soon as possible remaining within the Bilateral Agreement.

http://www.brecorder.com/index.php?id=591158&currPageNo=3&query=&search=&term=&supDate=

 

[Neo]

China to help Pakistan tackle trade deficit ​

ISLAMABAD: Amid security fears in the wake of the Lal Masjid operation, and more attacks on Chinese citizens, Pakistan’s most trusted friend China is sending a high-level trade delegation, headed by Gao Hucheng, Vice Minister of Commerce, on July 18 to help Islamabad tackle its huge trade deficit with Beijing.

Both countries are in agreement to ensure a balanced trade worth US$15 billion in the next five years and independent economic experts view the upcoming Chinese trade mission as very significant.

The delegation would include 10 high-ranking officials from various ministries and 35 members of various large business groups like Sinochem Corporation, China Tax Group, Sino Steel Corporation, China Meheco Corporation, China Minerals Corporation, etc.

An official said that Pakistan’s trade gap with China increased to US$2.045 billion during July-March 2006-07, prompting the authorities to come up with an effective plan to reduce the deficit by substantially increasing exports.

“Both Islamabad and Beijing are in trade agreement under the Early Harvest Programme, but China has managed to achieve amazing success in increasing its exports up to $2.452 billion to Pakistan.

“However, Pakistan managed to increase its exports to China to around $407.8 million, which still shows a huge trade deficit of about $2.045 billion.”

The trade deficit with China has increased by 24 per cent if compared with the trade gap Pakistan suffered during the same period of last financial year 2005-06.

However, the trade volume between the two countries during the period under review has increased to $2.859 billion, up by 22 per cent when compared with $2.325 billion trade registered during the same period of the previous fiscal.

Imports from China in the first nine months of 2006-07 increased by 23.5 per cent to $2.452 billion from $1.986 billion in the same period of 2005-06.

It may be recalled that during the visit of Prime Minister Shaukat Aziz to China in April 2007, both countries agreed to take special initiatives to enhance Pakistan’s exports to China in order to improve the trade balance which is heavily tilted in favour of China.

The visiting trade mission aims to enhance interaction between Pakistani exporters and Chinese importers. During the visit, the trade mission would be attending a mini- exhibition of Pakistani exports to place on-the-spot orders for exports to China.

The Trade Development Authority of Pakistan (TDAP) has invited applications from potential exporters to enable them to display their products during the aforesaid visit so that the Chinese trade mission could be facilitated to increase imports.

The trade mission would also call on Prime Minister Aziz and Commerce Minister Humayun Akhtar Khan, apart from meetings with a number of officials of various ministries.

It is hoped that the visiting trade mission would help Pakistani exporters to promote their products to the larger consumer market in China.

http://www.thenews.com.pk/daily_detail.asp?id=64160

 

[Neo]

ADB releases $123m for agri programme ​

ISLAMABAD: The Asian Development Bank has released the third tranche of $123 million for ASPL-II as the Ministry of Food only partially met its conditions, but assured the lender it would fulfill the terms in the next phase of the project (ASPL-III).

The Ministry of Food, Agriculture and Livestock (MINFAL) received the loan installment from the ADB on June 28 and told the bank it would start the next phase of the programme to meet the conditions, a senior government official told The News on Thursday.

The ASPL-II (Agriculture Sector Programme Loan II) was approved in December 2001 with a total assistance package of $350 million to address key constraints in the agriculture sector regarding productivity and profitability with an emphasis on small farmers.

Earlier, the bank conveyed to the MINFAL that it would not release the third tranche as the ministry along with provincial executing agencies had failed to improve the efficiency of commodity markets and strengthen support services. In reply, the government assured the bank in writing that it would either partially or completely fufill the requirements in the third phase of the programme, which would be launched later.

The bank had already released first two installments of $124 million and $100 million.

Conditions for the release of the third tranche included removal of market restrictions, phasing out commodity price supports and subsidies, restructuring of state-owned enterprises, provision of agricultural support services and strengthening and cooperation in agricultural support services.

The government has failed to eliminate producer and consumer subsidies, close the provincial food departments and eliminate budgetary support and preferential credit for Pakistan Agricultural Storage and Services Corporation.

Under ASPL-II programme, the government has to increase involvement of the private sector in wheat market, increase competition in the private sector in cotton and rice marketing and exports to overcome market imperfections, increase competition in sugar production and marketing with imports, increase competition in the private sector for fertiliser imports, remove the public sector’s monopoly in access to breeder seeds and increase participation of private sector, increase autonomy and financial self-reliance of research institutions and increase focus on small farmers for extension services.

http://www.thenews.com.pk/daily_detail.asp?id=64166

 

[Neo]

Trade gap jumps to $14bn in 2006-07​

KARACHI, July 12: Official international trade statistics for the month of June 2007 and for entire fiscal 2006-07 have been delayed because of the location of Pakistan Revenue Automated Limited (PRAL) in the vicinity of Lal Masjid and curfew area.

Normally, the Federal Bureau of Statistics obtains data from PRAL and release trade aggregate trade figures by 10th of every month. Detailed information on category-wise and item specific import and export figures are then released by second or third week of the next month.

The FBS officials in Karachi and Islamabad indicate the possibility of release of trade figures by Friday or Saturday. These figures are keenly awaited because a year long picture of import and export trade will be available.

The expectations are that the trade imbalance in 2006-07 is about $14 billion with imports at over $30 billion and exports about $17 billion.

The month of June was dominated by many events that apparently hampered production and was feared to have caused a slowdown in export.

Rains lashed Karachi and parts of Balochistan, which devastated vast areas. Many parts of Balochistan are still inundated with flash floods. Sindh and NWFP also came under heavy rains and severe damages.

Along with these natural disasters came the man-made events, the Chief Justice reference and the abduction of Chinese by the Lal Masjid incumbents. All these factors have affected economic performance. In the overall exports, textiles have apparently done better than non- textiles as its growth is expected around 6 per cent against 3 per cent of non textile. In imports, oil, food, mobile phones and autos dominate. More than $2 billion worth of imports are of unspecified items.

Export movement in the current month July also appears to be slow because of the fallout of Lal Masjid episode that gripped the whole country for more than a week. Even now when the episode has come to an end, the after shocks are expected as religious parties plan mass mobilisation.

The protest of the clergy, the continuation of Chief Justice Case and the recent launching of a broad-based political alliance in London are casting their shadows on the country’s economy. It is affecting the working of the federal and provincial government’s offices and also the business.

Market reports suggest that people are holding back money and are avoiding big transactions wherever possible. The sowing of kharif crop is complete and plantation of three main crops is in advance stage.

“All eyes are now towards skies as too much or little rains can damage the crop,” a textile leader said.

http://www.dawn.com/2007/07/13/ebr1.htm

 

[Introvert]

Bangladesh place import orders for 5000 cotton bales

Talking to Geo News, the cotton market sources said that in the wake of the recent rise in cotton demand in Bangladesh, the Bengali importers contacted Pakistan during the current month for the import of cotton bales.

According to the exporters, the average standard cotton from new crop will be sent to Bangladesh in August and September.
http://www.geo.tv/geonews/details.asp?id=8821&param=3

 

[Introvert]

Task force to increase horticulture exports in offing
ISLAMABAD: Federal government decided to set up a task force to increase the horticultural exports to one billion dollar by 2012.

According to Horticulture Development and Export Board officials, a task force is being formed to take the horticulture exports from $130 million to $1 billion by 2012.

The task force will provide such a platform to all stakeholders that will help increase Pakistani share in horticulture international market worth $80 billion.

According to the officials, five sub-committees will also be established, which include horticulture finance, horticulture infrastructure and markets, Regulations and Health Certification.
http://www.geo.tv/geonews/details.asp?id=8773&param=3

 

[Neo]

Low-income group hit hard: SPI stands at 9.76 percent ​

ISLAMABAD (July 15 2007): Weekly SPI-based inflation has been hitting the low income group hardest as during the week ending on July 5, it stood at 9.76 percent for low-income group while only 5.06 percent for high income earner. According to statistics released by the Federal Board of Statistic on Saturday.

The Sensitive Price Indicator (SPI) was up 7.39 percent compared to the same period of last year with 0.22 percent surge in a week. The SPI inflation was recorded 155.39 on July 12 against 153.62 on June 28.

Increasing prices of essential commodities have been hitting hard the low-income group, as inflation was 9.76 percent for the group earning Rs 3000 against 5.06 percent for those having income above Rs 12,000.

The inflation was 9.33 percent during the week under review for the income group of between Rs 3000 to Rs 5000 and 8.16 for those having income between Rs 5000 to Rs 12,000.

There has been a steady increase in prices of fresh milk, wheat, pulses, fruit, rice, gur, red chillies and mustard oil. The bulletin on SPI, based on data collected for about 53 items from 17 centres, showed that 19 items registered increase, and seven items showed decline, while prices of 27 items remained unchanged.

Further analysis of the data showed that 22 items were dearer by double digits over last year. These included wheat flour 14.99 percent, masoor pulse washed 19.94 percent, gram pulse washed 11.16 percent, wheat 11.40 percent, rice Irri-38.87 percent, onions 20.12 percent, hen egg farm 52.51 percent, vegetable ghee loose 44.70 percent, milk powder 21.47 percent, vegetable ghee (tin) 27.34 percent, cooking oil (tin) 27.17 percent, and matchbox 21.54 percent.

Among these items, in a short span of one week, the prices of sugar increased by 4.21 percent per kg, masoor pulses 2.98 percent per kg, wheat flour 3.15 percent per kg, gram pulse washed 2.76 percent per kg, milk fresh 1.01 percent per kg, wheat 1.97 percent per kg, and bananas 2.085 percent.

The average price of cement in various cities remained around Rs 233.25 against Rs 292 of last year. Per bag cement price was recorded Rs 233 in Rawalpindi while Rs 237 in Islamabad, Rs 205 in Lahore, Rs 245 in Karachi, Rs 245 in Hyderabad, Rs 221 in Peshawar and Rs 270 in Quetta.

http://www.brecorder.com/index.php?id=592111&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

Pakistan wishes more trade with Brazil: Wasim ​

ISLAMABAD (July 15 2007): Pakistan wishes to do more trade with Brazil, Wasim Sajjad, the Leader of House in the Senate told Brazilian Charge'd Affaires Gustavo Siqueira here when the later called on him at the Parliament House on Saturday morning.

Wasim Sajjad was convinced of practical steps that Pakistan needed to take in this direction and spoke of the tremendous scope that awaits the two countries in this sphere. Moreover, the step would strengthen bilateral relations.

In fact, Wasim Sajjad told the diplomat that Pakistan was further actively exploring trade potential with Brazil. In addition, they also discussed a number of issues of mutual concern to their respective countries, especially those relating to commerce and trade.

Wasim Sajjad specially requested Brazil charge'd affaires to convey his message to business houses in Brazil to invest in Pakistan and benefit from friendly investment policy of this country. Within this framework, Siqueira and Wasim explored the possibility of exchanging a number of friendly delegations between the two countries, including students as well as businessmen, in addition to parliament members.

While discussing exchange of parliamentary delegation, Wasim Sajjad explained to the diplomat the working of both the National Assembly as well as the Senate. He said the two Houses have passed a number of beneficial legislation over the years.

Gustavo Siqueira agreed with the points discussed, and assured the Leader of House in the Senate that he would work towards further strengthening the ties between the countries.

He observed that Pakistan is playing an important role in South Asia, and reiterated the view that both the countries shared identical views on a number of international issues.

http://www.brecorder.com/index.php?id=592090&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

Pharmaceutical exports may cross $100 million mark ​

KARACHI (July 15 2007): Country's pharmaceutical export for the 2006-07 fiscal year is believed to have crossed 100 million-dollar mark as the quality standards have been maintained by the local companies, which helped to secure import orders from the international market, industry sources told Business Recorder on Saturday.

Though the official statistics of 2006-07 have not yet been released, the exporters believe that the country's pharmaceutical export, which, according to provisional figure, stands at 85 million dollars, but they are optimistic of a jump of at least 15 million dollars when the final statistics for the 2007-07 fiscal year are released.

"The quality standards of our (pharma) manufacturers have been improved and they are following international standards for manufacturing their products," said former Vice-Chairman of Pakistan Pharmaceutical Manufacturers Association (PPMA) Zahid Saeed.

"Since the government is following two basic international standards, ie the United States pharmaceopia and British pharmacopoeia, our products do not face any difficulty in the international market," he said. Industry sources said that out of 450 billion-dollar world pharmaceutical market, the share of Pakistan is negligible and could be calculated in decimals.

They said that the procedures of initiating the export of pharmaceutical products in any country were quite typical as these took at least three years to understand and get into the country. "For export to any country, we have to register our products there after which a team comes to the importer's country to check the quality standards, besides other procedural matters," Zahid Saeed pointed out.

He was of the view that efforts of the last four years to explore more avenues for export had now been actualised and this was the only reason behind increasing pharma commodity export from the country. He said the United States was the largest pharma commodity exporter in the world, followed by some European countries and Japan.

Elaborating the utilisation aspect, he said the United States was the biggest consumer in the world as some 250 billion dollars worth medicines were consumed annually, while 70 percent population of the world, residing in Asian and African region, hardly consumed medicines worth 30 billion dollars. Sources said that some 25 export-oriented industries were operating in an organised manner across the country.

http://www.brecorder.com/index.php?id=592146&currPageNo=2&query=&search=&term=&supDate=

 

[Neo]

2,000 CNG buses to be imported from China ​

PESHAWAR (July 15 2007): Pakistan has decided to import 2,000 CNG buses from China to ply them in big cities of the country. For the import of the buses Wisdom Alliance Private, a local private sector company had already signed an agreement with Yuma Aircraft & Automobiles Manufacturing Company of China. According to the deal between both parties, Wisdom Alliance would be the sole distributor of the buses in Pakistan.

"In some first instance, we are importing 1,000 buses for different cities of the country, while 1,000 more would be imported shortly," Akbar Ali, a senior official of Wisdom Alliance told Business Recorder when contacted.

He said that Peshawar is required 700 CNG buses. However, in first instance the city would get 100. He said that the City District Government Peshawar has already approved 200 CNG buses for the city in the import of first batch of vehicles.

The arrival of the total 2,000 vehicles is likely to be completed in a period of two months. The decision of the plying of CNG buses in big cities of the country had been made in the wake of the growing environmental pollution, which had climbed to alarming height and many fold high than the international standard.

Furthermore, the plying of CNG buses would also helped revive the old transport vehicles running on the city roads and overcoming the transport problems of the commuters.

However, interestingly, the local transport associations have already been started raising hue and cry over the decision of the government. They are attributing to economic killing of the thousands of people having stakes in the transport sector in the city.

Both the provincial and City District Government Peshawar since last six years had been trying to introduce the plying of CNG buses on the city roads. However, due to unknown reasons, no practical step was taken in this regard.

http://www.brecorder.com/index.php?id=592212&currPageNo=2&query=&search=&term=&supDate=

 

[Neo]

'Pakistani handicrafts can fetch good price in western markets' ​

LAHORE (July 15 2007): Handicrafts made by Pakistani artisans, men and women, have a great market in western countries and an exhibition of Pakistani handicrafts would be held in Europe and the USA where artisans will display their products.

Parliamentary Secretary of Technical Education and Vocational Training Authority (Tevta), Rubina Sulehri Noor, stated this, while addressing a seminar on 'Businesswomen and their role in economy' here on Friday.

Rubina Sulehri maintained that Pakistani handicrafts can fetch a very good price in western markets. Modern marketing techniques had to be adopted for exporting handicrafts and the role of the proverbial 'middleman' should be eliminated in this regard, she added. She called for better finishing of our products and announced that Punjab government would provide soft loans to women entrepreneurs reluctant to work outside their houses, so they could earn their income by working at home.

The maximum limit of loan would be Rs 40,000, with 8 percent mark up to be charged from the artisans in Southern Punjab region and 9 percent mark up from other areas, she added. The government is working on a comprehensive plan for the welfare of women, she said. She urged the women to come forward and work for their personal and national progress.

http://www.brecorder.com/index.php?id=592180&currPageNo=3&query=&search=&term=&supDate=

 

[Neo]

Trade policy envisages 12 percent growth in exports: announcement on July 17 ​

ISLAMABAD (July 14 2007): Prime Minister Shaukat Aziz has approved trade policy for 2007-08, which envisages 10-12 percent growth in exports, official sources told Business Recorder. The trade policy will be announced on July 17, after formal approval by the Cabinet.

However, the Prime Minister did not clear some proposals of Commerce Ministry, and directed it to improve them, keeping interests of local industry in view. Sources said that the Prime Minister was not happy with the performance of Commerce Ministry, especially in not achieving 2006-07exports target of $17.8 billion.

The Prime Minister, who chaired an inter-ministerial meeting in the Prime Minister House on Friday evening, said that the government was also focusing on skills development and on reducing the cost of doing business to achieve the target of $40-45 billion exports by 2013.

He said that the initiatives taken under National Trade Corridor Plan to simplify procedures, reduce clearing time at ports, airports and borders and to reduce end-to-end delivery time for goods had increased the competitiveness of the products thus increasing exports.

"It is important to build brands, work on the existing strengths and create competitive advantage internationally," he said, adding that the trade policy should promote national brands to increase exports of value-added goods. He also directed that Trade Development Authority of Pakistan (TDAP) should pursue an aggressive marketing strategy with a focused approach to diversify and increase exports.

He said that the policy should emphasise both intermediate and long-term plans to develop consistency and achieve the desired exports targets and sustained economic development. The Prime Minister further said that besides improving the quality of products for existing markets the policy needed to cater for the needs and demands of new markets.

"Trade policy should facilitate all areas of manufacturing sector with a view to produce quality goods for both local and international markets to strengthen our economy," he said. Commerce Secretary Asif Shah made a presentation about the proposals received from various Ministries/Divisions to be incorporated in the trade policy.

Extensive discussions were held on each proposal with positive suggestions to further improve upon various proposals, said a press release. The meeting was attended among others by Commerce Minister Humayun Akhtar Khan, Minister for Industries and Production Jehangir Khan Tareen, Minister for Food and Agriculture Sikandar Hayat Khan Bosan, Minister for Health Muhammad Nasir Khan, Advisor to Prime Minister on Finance Dr Salman Shah, Planning Commission Deputy Chairman Dr Akram Sheikh, State Bank Governor Dr Shamshad Akhtar, TDAP Chief Executive and other officials.

http://www.brecorder.com/index.php?id=591456&currPageNo=3&query=&search=&term=&supDate=

 

[Neo]

ADB to help create 20-year 'Special Fund' for Pakistan ​

ISLAMABAD (July 14 2007): The Asian Development Bank (ADB) has decided to help create a 20-year 'Special Fund' for Pakistan aimed at extending a long-term source of funds for capacity building initiatives of various stakeholders including government organisations, regulatory authorities, retailers and potential clients.

The fund would be created in the State Bank of Pakistan (SBP) which would have the possession, management and control of the fund, its undertakings, properties and assets, Khaleej Times reported.

The ADB has agreed to initially extend $20 million for the fund but an equal amount of funds in a local currency would also be made available by the government as part of the counterpart funding. The fund would be established as an endowment fund, whereby the income generated from it would be used for supporting the activities on a grant basis, and the initial $20 million equivalent capital contribution would remain in place for the life of the fund.

The fund would establish its own rules, subject to ADB concurrence, specifying among other things, the selection criteria for the capacity building initiatives and literacy programmes it would support, including general percentage allocations to be applied among the different categories of activities, the investment strategy for the fund, and accounting and auditing procedures.

It is expected that the initial capital of the fund and the unutilised income generated from the fund would be invested by SBP in approved government securities.

The fund would be administered and managed by a 'Governing Body' consisting of five voting members and one observer. The governing body would be comprised of an SBP nominee, CEO of Pakistan Poverty Alleviation Fund (PPAF), CEO of the Pakistan Micro finance Network, Pakistan Banking Association (PBA) nominee, a representative from the education sector to be nominated by the other four voting members and an ADB observer with non-voting status.

The governing body's responsibilities would include, selection of the capacity building initiatives and literacy programmes to be financed by the Fund. The central bank would prepare the fund rules, including provisions on fund management, accounting and auditing procedures, investment policy, grant selection criteria and a minimum percentage of funds available for literacy. The secretariat of the fund would be located at SBP headquarters.

In order to promote transparency and greater accountability, the fund would have a dedicated public website, hosted by SBP, which would list application criteria for accessing grants from the fund for literacy and capacity building programmes, and provide the necessary forms and instructions for application and the contact information for queries and the submission of applications.

The governing body would be responsible for publishing on a quarterly basis on the SBP public website, the listing of recipients of funds and detailed information on the capacity building and training activities that are funded by the fund.

The fund's annual work plan would also be published by the committee on the website and updated quarterly for any changes. The fund account would be audited annually in accordance with internationally acceptable accounting norms and practices.

The objective is to also support national, provincial, and district level micro finance banks (MFBs) in rural and remote areas to support development of product and service innovation, including savings, remittances and Islamic financial services.

Financial service providers adopting and integrating new technologies and applications, including mobile money transfer and VSAT technologies, for improving access to financial services would be assisted. Financial service providers are defined as entities providing financial services to MFBs, non-government organisations (NGOs), rural support programmes (RSPs), Islamic banks, leasing companies, and commercial banks.

Government and regulatory authorities would be supported to develop an inclusive financial sector and implementation of measures under the improving Access to Financial Services Programme (IAFSP) of the ADB.

Literacy programmes are expected to improve access to financial services by the poor and would be conducted for clients and potential clients of financial services providers. These service providers would directly conduct literacy programmes, or could sub-contract provision of the required services to undertake literacy programmes.

This support would enable financial institutions to concentrate on the core business of financial services, while at the same time providing key support for literacy which enables clients and potential clients to better access finance and utilise the finance effectively.

http://www.brecorder.com/index.php?id=591491&currPageNo=3&query=&search=&term=&supDate=

 

[Neo]

Poverty reduced by 11 percent, claims minister ​

LAHORE (July 14 2007): Provincial Minister for Chief Minister's Inspection Team Colonel Shuja Khanzada (Retd) has said that poverty has been reduced by 11 percent due to comprehensive economic policies of the present government and three million jobs have also been created during the last three years.

Reforms have been introduced in all departments to provide basic facilities to the common man and fruitful results have been achieved. He expressed these views talking to various delegations of Nazims and workers of PML at his office, on Friday.

He said that the government is taking steps on priority basis to maintain law & order and to provide daily use items at reasonable rates to all segments of society. He said that special directions have been issued to the members CMIT to keep vigil eye on the prices of goods in their respective areas. "If any shopkeeper is found involved in over charging, take legal action against them and get cases registered against the defaulters", he directed.

He further said that members CMIT would also inspect police stations and listen to the complaints of people. He warned that strict action would be taken against such officials and officers who will fail to redress the complaints of public. He said that crime ratio has been reduced due to set up of patrolling posts throughout the province. About 250 patrolling posts have been established while 250 more posts are being set up, he concluded.

http://www.brecorder.com/index.php?id=591521&currPageNo=3&query=&search=&term=&supDate=

 

[Neo]

'6.5 million people benefited from CCBs' ​

ISLAMABAD (July 14 2007): The underdeveloped people of four provinces have contributed over Rs 1.1 billion for their own development, says a press release. At present over 37,000 citizen community boards (CCBs) are operational across the country.

These voluntary bodies are working in both urban and rural areas and each is comprised of 25 non-elected citizens of Pakistan. Through this mechanism, over 925,000 citizen of Pakistan are directly undertaking activities aimed at mitigating their most pressing problems.

A recent analysis conducted by the Devolution Trust for Community Empowerment (DTCE) reveals that the so far 6.5 million people have directly benefited from CCBs and brought into the mainstream development. The government share of 80% has been Rs 4.71 billion while the community has contributed Rs 1.1 billion.

This is an achievement of enormous proportions. Contrary to the perceptions of the detractors of CCBs, the poor communities of Pakistan have willingly and generously contributed their share of 20% for development projects, which speaks volumes about the ownership level of the communities for these CCBs.-PR

http://www.brecorder.com/index.php?id=591522&currPageNo=3&query=&search=&term=&supDate=