Maryam Nawaz, the senior vice president and top organiser of the Pakistan Muslim League-Nawaz and the party’s candidate for the Punjab chief ministership, has “called” for...
Under the Special Investment Facilitation Council (SIFC), Pakistan’s mineral sector, valued at billions of dollars, is developing to unprecedented heights, according to Prime Minister Anwaar-ul-Haq Kakar on Wednesday. He was speaking with a group from Miracle Salt Collective Inc. that had paid Anwaar-ul-Haq Kakar, the caretaker prime minister, a visit. The prime minister expressed optimism at the meeting that the signing of a joint venture between Pakistan Mineral Development Cooperation (PMDC) and Miracle Salt would result in a rise in the nation’s salt exports. Additionally, he claimed, it will deepen trade relations with the United States. “This joint venture is a manifestation of the fact that Pakistan has the most suitable destination for foreign investment,” he stated. He claimed that Pakistan’s global identity was embodied in Himalayan pink salt.
In a Tuesday statement to investors, Prime Minister Anwaarul Haq Kakar pledged the government’s unwavering support. He added that Pakistan will become stable, successful, and on the rise if its human and material resources are used wisely. “Our human capital is more valuable than our natural resources. At the signing ceremony of a joint venture agreement between Pakistan Mineral Development Corporation (PMDC) and the US-based Miracle Saltworks Collective Inc. for the establishment of a dedicated facility for crushing and packaging pink salt for export purposes, the prime minister declared, “The human resource coupled with the mineral resource will lead to stable, prosperous, and rising Pakistan.” The deal was signed by Miracle Saltworks Collective Inc. President Ahmed Nadeem Khan and PMDC Managing Director Asad Ahmed.
Chief Justice of Pakistan (CJP) Qazi Faez Isa has questioned whether the Supreme Court and the military forces had a chance to make amends for their previous transgressions and rebuild their credibility in light of the Zulfikar Ali Bhutto reference. During a hearing on a presidential reference concerning the death sentence given to the former prime minister Bhutto in 1979, the top judge said on Tuesday, “Isn’t this an opportunity for both institutions to get rid of the accusations hurled against them?” The presidential reference was heard by the larger bench of the supreme court, which was chaired by Chief Justice Isa and included Justices Sardar Tariq Masood, Syed Mansoor Ali Shah, Yahya Afridi, Amin-ud-din Khan, Jamal Khan Mandokhel, Muhammad Ali Mazhar, Syed Hasan Azhar Rizvi, and Musarrat Hilali.
The close result of Pakistan’s election and the ensuing political unrest, according to Fitch Ratings, could make it more difficult for the nation to obtain a funding deal with the International Monetary Fund (IMF) to replace the Stand-By Arrangement (SBA), which is set to expire in March 2024. The country’s credit profile depends on a new agreement, which we believe will be reached in a few months. However, the rating agency stated in a statement that prolonged negotiations or failure to reach a deal would exacerbate external liquidity stress and increase the likelihood of default.
Anwaar-ul-Haq Kakar, the prime minister, stated on Thursday that the steps implemented under the Special Investment Facilitation Council (SIF) were having a beneficial effect as the interim administration worked tirelessly to boost the country’s economy. Speaking to a group of industrialists from Khyber Pakhtunkhwa led by Senator Nauman Wazir and representing the Pakistan Association of Large Steel Producers (PALSP), he stated, “The caretaker government took steps to create a conducive environment for business, facilitate the role of the private sector in the country’s development and increase tax revenue,” at the Prime Minister’s Office. According to a PM Office news release, other attendees included Federal Bureau of Revenue Chairman Jameel Ahmed, Governor of State Bank of Pakistan (SBP), and secretaries from the relevant ministries.
Syed Tariq Muhammad ul Hassan’s appointment as Pakistan Baitul Maal’s (PBM) managing director was approved by the Federal Cabinet on Thursday. The Prime Minister House Media Wing released a press release stating that the Ministry of Poverty Alleviation and Social Security recommended the decision be made. The cabinet gave its approval for the transportation of new tyres and vehicle spare parts from Karachi Port to Kabul for use by the UNDP Country Office in Afghanistan. It was advised that while such imports and their transfer to Afghanistan were forbidden in order to stop smuggling within the nation, the aforementioned tyres and spare parts were intended for use by the UN and not for commercial purposes.
On Wednesday, Dr. Nadeem Jan, the federal minister for regulations, coordination, and national health services, officially opened a project at DrugPharma Chemicals to expand and renovate their production facility for active pharmaceutical ingredients (APIs). This is the second project in an effort to revive and energise domestic API production. Once the project is finished, Drugpharma’s production capacity will gradually expand from its current 52,000 litres to over 105,000 litres by the end of the year. Speaking, the federal minister stated that since APIs are a fundamental component of many types of medications, increasing domestic production of them will not only reduce reliance on API imports but also aid in lowering drug costs and enhancing the availability and quality of pharmaceutical ingredients.
Anwaar-ul-Haq Kakar, the prime minister, claims that every effort is being made by the administration to ensure that the general public has access to affordable medications. In his capacity as chair of today’s Federal Cabinet meeting in Islamabad, he stated that the government is formulating measures that will help the pharmaceutical business as well as the general public. The Prime Minister gave the task of formulating suggestions to enhance the Drug Regulatory Authority of Pakistan’s operations even more. He also gave the order to intensify the fight against drug hoarding and smuggling. The Prime Minister stated that recommendations for the deregulation of medicine costs should be sent so that a draft summary can be prepared for the upcoming elected parliament to consider.
Due to a weekend holiday on February 3 and 4 and Kashmir Day on February 5, all banks nationwide will be closed from February 3 to February 5. Tuesday and Wednesday, February 6 and 7, will see all banks open; on February 8, the day of the election, banks will close once more and reopen on Friday, February 9. The warning states that banks will be closed on Saturday and Sunday, as well as on February 10 and 11. All banks will only be open for three days in the ten days that follow tomorrow before closing for seven days, according to the announcement.