Thursday, April 21, 2022

Hina Khar: Pakistan highly values its relations with UK

Hina Khar: Pakistan highly values its relations with UK

 Hina Rabbani Khar
The British High Commissioner Dr Christian Turner called on Minister of State for Foreign Affairs Hina Rabbani Khar in her office on Thursday.

Dr Christian Turner congratulated Hina Rabbani Khar on assuming the office and hoped that both sides will work together to further deepen the Pakistan-UK relations.

Read more: PM Shehbaz Sharif summons NSC meeting

Hina Rabbani Khar thanked the British High Commissioner for the felicitations and stated that Pakistan highly values its relations with the UK, which are based on mutual respect and shared perceptions on broad range of regional and international issues.

She also appreciated the role undertaken by the British government in promoting health, education, governance and human development in Pakistan. Both sides also agreed to celebrate 75th anniversary of the establishment of bilateral diplomatic relations in a befitting manner.

Besides bilateral relations, discussions on evolving geopolitical situation and regional matters including Indian Illegally Occupied Jammu and Kashmir (IIOJK) and Afghanistan also took place.

Hina Rabbani Khar noted with concern the economic impact of the continuity of the Ukraine crisis and expressed the need for early resolution of the matter through diplomacy and peaceful means.

The British High Commissioner thanked the minioster and conveyed his good wishes and keen interest in promoting bilateral relations.



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Three federal ministers will be expanded, one state minister to be inducted in cabinet

Three federal ministers will be expanded, one state minister to be inducted in cabinet

 federal minister
The federal cabinet will be expanded further as three federal ministers and one state minister will take oath of their offices today (Friday).

According to sources, those who will join Prime Minister Shehbaz Sharif cabinet today include Mian Javed Latif of Pakistan Muslim League-Nawaz (PML-N), Agha Hassan Baloch and Hashim Notezai of Balochistan National Party-Mengal (BNP-M).

Moreover, Pakistan Muslim League-Quaid (PML-Q) chief Chaudhary Shujaat Hussain’s son Chaudhary Salik Hussain will also join the federal cabinet today.



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PM Shehbaz Sharif summons NSC meeting

PM Shehbaz Sharif summons NSC meeting

PM Shahbaz Sharif
Prime Minister Shehbaz Sharif has summoned National Security Council (NSC) meeting to be held today (Friday).

According to sources, the meeting will be held today at the Prime Minister Office and 2:00pm. The members of the meeting will discuss security situation in the country.

Sources said that security agencies will brief Prime Minister Shahbaz Sharif during the meeting. Top civil and military leadership including federal ministers, services chiefs will attend the meeting.



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Fawad: PTI would have been in power if relations with establishment not deteriorated

Fawad: PTI would have been in power if relations with establishment not deteriorated

Pakistan Tehreek-e-Insaf
Pakistan Tehreek-e-Insaf leader Chaudhry Fawad Hussain on Wednesday said that if relations with the establishment had not deteriorated, the PTI government would have survived.

Talking to a private TV channel, former federal minister admitted that relations between the government and the establishment were not good for the last few months and every effort was made to rectify them.

Read more: PM Shahbaz appointed Tariq Fatemi as SAPM on foreign affairs

Fawad Chaudhry said Had relations with the establishment not deteriorated, Pakistan Tehreek-e-Insaf would have been in power in the country.



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Wednesday, April 20, 2022

PM Shahbaz appointed Tariq Fatemi as SAPM on foreign affairs

PM Shahbaz appointed Tariq Fatemi as SAPM on foreign affairs

PMLN
Prime Minister Shehbaz Sharif on Wednesday appointed Syed Tariq Fatemi as his special assistant on foreign affairs.

“The prime minister, in terms of rule 4 (6) of the Rules of Business, 1973 read with serial no. 1A of Schedule V-A of the said rules, has been pleased to appoint Syed Tariq Fatemi, as special assistant to the prime minister on foreign affairs, with immediate effect,” the notification issued by the Cabinet Division stated.

Read more: Zardari meets Shujaat, offers to induct his son in cabinet

Fatemi, who was removed from the same position for being part of the infamous Dawn Leaks in 2017 during Nawaz Sharif government, has named a day after 33 ministers took oath in the new federal cabinet.

The Cabinet Secretariat has also issued a notification stating that Tariq has been appointed as Special Assistant to Prime Minister on Foreign Affairs with immediate effect.



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Zardari meets Shujaat, offers to induct his son in cabinet

Zardari meets Shujaat, offers to induct his son in cabinet

PPP
Pakistan People’s Party (PPP) co-chairman and former president Asif Ali Zardari on Wednesday called on Pakistan Muslim League-Quaid (PML-Q) chief Chaudhry Shujat Hussain at his residence in Islamabad.

According to sources, Asif Ali Zardari offered to include Chaudhry Shujaat Hussain’s son Salik Hussain in the federal cabinet. “I want to include Salik Hussain in the federal cabinet,” Zardari said.

Read more: Article 63 (A) ensures lawmakers' loyalty to party: CJP

The two leaders also discussed the overall political situation in the country. Both the leaders agreed to expand the political tolerance and resolve the matters in a peaceful manner.



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Ukraine calls for talks in teetering Mariupol as Moscow holds ICBM test

Ukraine calls for talks in teetering Mariupol as Moscow holds ICBM test

Ukraine Russia conflict
Ukraine called Wednesday for urgent negotiations with Russia in Mariupol, which appeared close to falling after weeks of siege, as Vladimir Putin flexed his military muscle with the test launch of a new, nuclear capable ICBM.

Washington downplayed the test of the intercontinental ballistic missile and said it had been notified in advance, but Putin said it would make the Kremlin s enemies "think twice", raising tensions nearly two months after he invaded Ukraine and ignited a global crisis.

Read more: Russia urges Ukrainian forces to 'immediately' lay down arms

Mariupol, a strategic port city on the Sea of Azov, has been under a horrific siege almost since the invasion began. On Wednesday, Moscow issued another call for the devastated city s defenders to surrender.

But Kyiv proposed a "special round" of talks with Moscow, without any conditions, in Mariupol itself.

"One on one. Two on two. To save our guys, Azov, military, civilians, children, the living & the wounded. Everyone. Because they are ours," wrote top Ukraine negotiator and presidential aide Mykhailo Podolyak on Twitter.

He tweeted after a Ukrainian commander in the besieged Azovstal steel plant in Mariupol issued a desperate plea for help, saying his marines were "maybe facing our last days, if not hours".

"The enemy is outnumbering us 10 to one," said Serhiy Volyna from the 36th Separate Marine Brigade.

"We appeal and plead to all world leaders to help us. We ask them to use the procedure of extraction and take us to the territory of a third-party state."

An adviser to the city s mayor described a "horrible situation" in the encircled steel plant and reported that up to 2,000 people -- mostly women and children -- are without supplies of drinking water, food and fresh air.

"Powerful bombs have been dropped several times on Azovstal, we have been bombed from boats... we are under siege. The front is 360 degrees," said Svyatoslav Palamar, a commander in the nationalist Azov battalion defending the city, in a post on Telegram.

"The situation is critical, we call on international leaders to help the children," he added.

Read more: Russia unleashes offensive into east Ukraine: Volodymyr Zelenskyy

Mariupol has become a symbol of Ukraine s unexpectedly fierce resistance since Russian troops invaded the former Soviet state on February 24.

Capturing it would allow Russia to have a land bridge between the Crimea peninsula, which it annexed in 2014, and the two Moscow-backed separatist statelets in Ukraine s east.

The offer of talks came after Kyiv said it had agreed with Russian forces to open a safe route for civilians to flee the devastated city -- but that the had attempt failed.



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Queen Elizabeth II’s 96th birthday

Queen Elizabeth II’s 96th birthday

Queen Elizabeth II’s 96th birthday
Gun salutes will ring out Thursday to mark Queen Elizabeth II’s 96th birthday, although the monarch herself was expected to mark the occasion with little fanfare.

It has been a troubled year for Britain’s royal family, with concerns over the queen’s health and questions over the future of the monarchy.

Read more: First killing by police in Sri Lanka protests

Rounds will be fired from the Tower of London and Hyde Park in the British capital, where a military band will also play "Happy Birthday".

Royal tradition since the 18th century has also seen the monarch have a second, official birthday, typically celebrated in warmer weather in June.

This year’s official birthday coincides with four days of public events from June 2 to 5 to mark the queen’s record-breaking 70th year on the throne.

British media said the queen has flown by helicopter from her Windsor Castle home, west of London, to her Sandringham country estate in eastern England.

There, she is reported to be spending time at the cottage where her late husband Prince Philip lived after he retired from public life in 2017.

The Daily Mirror quoted an unnamed royal source who said the trip was being viewed as a "positive step" given the queen’s recent health problems.

Since an unscheduled overnight stay in hospital last October, she has cut down massively on public appearances on doctor’s orders.

Read more: Russia urges Ukrainian forces to 'immediately' lay down arms

A back complaint and difficulties standing and walking have seen her cancel a number of engagements, including recent church events to mark Easter.

A bout of Covid-19 in February left her "very tired and exhausted", she told doctors and patients at the Royal London Hospital during a virtual event earlier this month.

But her grandson Prince Harry told US broadcaster NBC in an interview aired on Wednesday that she was "on great form" when he saw her last week.

The queen was last seen in public at Westminster Abbey in central London on March 29 at a memorial service for Prince Philip, who died last year aged 99.



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Fertilizer industry to enable over US$ 5.3bn import substitution

Fertilizer industry to enable over US$ 5.3bn import substitution

Ferterlization
The local fertilizer Industry is providing urea at around 84 percent discount, equivalent to Rs 9,823 per bag and is expected to enable import substitution of USD 5.3 billion in 2022.

Discussing the latest business results and future outlook in first quarter analyst briefing, Imran Ahmed – Chief Financial Officer of Engro Fertilizers shared that the fertilizer sector is passing on a benefit of Rs 900 billion per annum to farmers through the provision of urea at significant discount to current global prices.

Read more: Oil stabilises after big drop on IMF growth cut

Over the last 10 years, the industry is passed on benefit of over Rs 1.4 trillion to the farmers through lower urea prices. This amount is four times higher the benefit that industry has received through gas pricing under the Fertilizer Policy 2001.

At the same time, the industry has been playing a significant role towards reducing the country’s trade and fiscal deficit as the country is self-sufficient in urea production.

In the last annual general meeting of the Company, shareholders expressed concerns over the sharp disparity between international and local urea prices. Shareholders further added that the company has been losing shareholders’ value by pricing urea at a significant discount to import parity.

Imran Ahmed emphasized that urea demand has increased by 17% in Q1 2022 compared to the same period last year.

The Company’s research indicates that, as per crop mix and cultivated area for the first quarter, there has been an estimated increase of 2percent in agronomic demand. He added that this situation may in part be due to advance buying by the farmers, but also indicates a strong probability of product movement across border emanating from significant disparity among local and international urea prices.

Read more: Stocks extend losses amid selling pressure

Imran also highlighted the challenges faced by fertilizer industry, including recoveries of outstanding subsidy and sales tax receivables from the Government, dis-allowances made under Income & Sales Tax for sales to unregistered dealers, and FBR clarification on Concessionary custom duty withdrawing the concession / relief given earlier.

He also stated that continued Government support will be required to resolve these pressing matters, which will allow Engro Fertilizers to continue to play its role in transforming the agricultural landscape of Pakistan and to ensure long-term food security of Pakistan.



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Netflix aims to curtail password sharing, considers ads

Netflix aims to curtail password sharing, considers ads

Netflix
An unexpectedly sharp drop in subscribers has Netflix considering changes it has long resisted: Minimizing password sharing and creating a low-cost subscription supported by advertising.

Looming changes announced late Tuesday are designed to help Netflix regain momentum lost over the past year. Pandemic-driven lockdowns that drove binge-watching have lifted, while deep-pocketed rivals such as Apple and Walt Disney have begun to chip away at its vast audience with their own streaming services.

Read more: Scientists: Water on Jupiter's moon closer to surface than thought

Netflix’s customer base fell by 200,000 subscribers during the January-March quarter, the first contraction the streaming service has seen since it became available throughout most of the world other than China six years ago. The drop stemmed in part from Netflix’s decision to withdraw from Russia to protest the war against Ukraine, resulting in a loss of 700,000 subscribers. Netflix projected a loss of another 2 million subscribers in the current April-June quarter.

The erosion, coming off a year of progressively slower growth, has rattled Netflix investors. Shares plunged by more than 25% in extended trading after Netflix revealed its disappointing performance. If the stock drop extends into Wednesday’s regular trading session, Netflix shares will have lost more than half of their value so far this year — wiping out about $150 billion in shareholder wealth in less than four months.

The Los Gatos, California, company estimated that about 100 million households worldwide are watching its service for free by using the account of a friend or another family member, including 30 million in the U.S. and Canada.

“Those are over 100 million households already are choosing to view Netflix,” Netflix CEO Reed Hastings said. “We’ve just got to get paid at some degree for them.”

To prod more people to pay for their own accounts, Netflix indicated it will expand a trial program it has been running in three Latin American countries — Chile, Costa Rica and Peru. In these locations, subscribers can extend service to another household for a discounted price. In Costa Rica, for instance, Netflix plan prices range from $9 to $15 a month, but subscribers can openly share their service with another household for $3.

Read more: New WhatsApp feature for all countries under development

Netflix offered no additional information about how a cheaper ad-supported service tier would work or how much it would cost. Another rival, Hulu, has long offered an ad-supported tier.

While Netflix clearly believes these changes will help it build upon its current 221.6 million worldwide subscribers, the moves also risk alienating customers to the point they cancel.



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Tuesday, April 19, 2022

Oil factory catches fire in Multan

Oil factory catches fire in Multan

Multan
Fire erupted in an illegal oil and gas agency in the congested residential area of Multan on late Tuesday night.

The fire spread very quickly and engulfed several nearby shops. At least eight fire brigade vehicles and rescue teams reached the spot and brought the fire under control in a hectic effort of three hours.

Read more: Governor postpones oath-taking ceremony of CM-elect

According to rescue teams, no loss of life was reported in the incident. Rescue sources also informed that the cause of fire is not known yet. Meanwhile DC Multan has taken notice of the incident.



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PM assures relief to victims of fire incident in Dadu

PM assures relief to victims of fire incident in Dadu

Shahbaz Sharif
Prime Minister Shehbaz Sharif Tuesday while condoling over the deaths in a fire engulfing two villages of Sindh’s Dadu district, assured the victim families that the federal government would take measures for their relief.

At least nine people including six children had died after a fire engulfed two villages in Tehsil Mehar of Dadu district, following the gusty winds in the area.

Read more: PMDA disbanded, newly elected Information Minster Marriyum Aurangzeb announces

The prime minister directed the National Disaster Management Authority (NDMA) to provide all possible support for the rehabilitation of the affected families.

He also assured that he would also take up the matter with the Sindh government and call for a financial relief package for them.

The prime minister sympathized with the villagers and also conveyed his grief over the loss of their properties.

He also prayed for peace for the departed souls and strength for the bereaved families to bear the loss.



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IMF forecasts Pakistan's growth rate at 4% in FY22

IMF forecasts Pakistan's growth rate at 4% in FY22

IMF
The International Monetary Fund (IMF) has released the World Economic Outlook Report. The IMF’s World Economic Outlook report predicts that Pakistan s economic growth, inflation and current account deficit targets will not be met this year.

According to the report, the economic growth rate is projected to be 4 percent against the target of 4.8 percent this year and 4.2 percent next year. The GDP growth was 5.6 percent in the last fiscal year.

Read more: Foreign funding case: PTI questions 'incomplete' ECP's powers  

According to the report, inflation in Pakistan is likely to remain in double digits of 11.2 percent this year while the government had set an annual target of average inflation of 8 percent.

In addition, the current account deficit will reach 5.3 percent of GDP, while the target was set at 0.7 percent. On the other hand, the current account deficit is expected to reach about $19 billion.

According to the IMF s World Economic Outlook report, the unemployment rate in Pakistan was 7.4 percent last year, compared to 7 percent this year and 6.7 percent next year.

According to the report, the Ukraine-Russia war has created a global humanitarian crisis, the conflict has slowed down the global economy, and has had a negative impact on global commodity prices, trade and financial resources.



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