DNA

KARACHI, SEPT 12 – The Federation of Pakistan Chambers of Commerce and Industry, opposing the ECC decision of raising power tariff for export sector from Sept by 1.5 cents amidst downfall of 20 percent exports, has sought regionally competitive energy tariffs for domestic as well as export industries to capture the global market. 

FPCCI President Mian Anjum Nisar observed that amid worsening export volumes and halt in domestic industrial growth the approval of 20 percent hike in electricity rates to 9 US cents per kWh for the export sector from Sept 2020 is really surprising and if it is not reversed, it would prove to be dangerous for Pakistan’s industry, discouraging investment both in capacity as well as the capability.. 

While the domestic industry has already been paying Rs19.82 per unit of electricity the export-oriented industry has now been forced to pay a cost of Rs15 per unit from Sept, which is more than the double of the electricity rates in India, which will pull them out of the international market by the regional competitors. The electricity charges in Bangladesh and India are about 7-9 cents per kWh while in China, which is Pakistan’s major trading partner, the electricity charges are less than 9 cents per kWh. 

FPCCI President said that though the move will help the government restrict subsidies to Rs20 billion this year yet it will put an additional burden of nearly Rs18 billion on the industrial sectors. 

“It is good that for two months of July and August electricity to the export-oriented sectors would be provided at 7.5 US cents but after that power would be supplied at 9 US cents per kWh for the rest of the financial year 2020-21 at a time when the export sector has already shown plunge of around 20 percent. Exports have been struggling for the past many years. In the first two months of July-Aug of the current fiscal year the exports further fell by over 4 percent. The government had announced an all-inclusive tariff of 7.5 US cents per unit for five major export sectors in Jan 2019 to enhance Pakistan’s export competitiveness but the decision was not implemented in its full spirit. 

Mian Anjum Nisar also stressed the need for early approval of new Textile Policy 2020-25 by the Economic Coordination Committee, as it would be beneficial for the major export sectors. He said that Prime Minister Imran Khan has already accorded approval to this Policy in terms of policy directives on production and diversification of exports. He added that the approval of textile policy is the only way to ensure more investment in this sector as huge investment is in the pipeline but is awaiting the last accord of textile policy. 

He welcomed the country’s some positive economic indicators, which have started showing recovery despite enormous challenges at external as well as internal fronts due to outbreak of coronavirus and subsequent lockdown, 

FPCCI President said that both International and domestic confidence was increasing. In addition, the Moody’s rating agency also provided stable rating for Pakistan economy and confirmed its B3 credit rating. It is fact that the COVID-19 outbreak and the subsequent lockdown drastically damaged the world economy and Pakistan was no exception which witnessed negative GDP growth. However, due to some better policies adopted by the government, including relief in markup rate the economic losses were mitigated to some extent, which now need to continue for further benefit. 

Mian Anjum Nisair called for continuation and consistency in long-term policies once it is announced, as changes and revisions hurt the industrialists’ plan of production and purchases and booking of orders which is made according to the policy announcement. 

Mian Anjum Nisar observed that country has not been able to achieve its full export potential and product diversification owing to limited access to raw-material and to this effect the application procedures for temporary import schemes should be simplified, so that exporters could be able to achieve price competitiveness and product diversification. He said that industry was assured that sales tax refunds under the FASTER system will be paid in 72 hours. However, the system has completely failed and billions of rupees of refunds are stuck in the system. 

DNA

ISLAMABAD, SEPT 12 – We meet today to mark an historic occasion, when our Afghan brethren take a major step forward in their long quest for peace. Indeed, a long phase of tribulations seems ending.  A new dawn is upon us.

This journey has not been easy. There have been obstacles and setbacks; moments of doubt and despair.

Yet, progress has been made, and preserved.

Arriving at this inflection point has been an accomplishment, and this success belongs, first and foremost, to the Afghans.

Pakistan has walked along-side you in every possible way, by encouraging reduction in violence and by urging dialogue and negotiations.

Pakistan has fully facilitated the process that culminated in the U.S.-Taliban Peace Agreement in Doha on 29 February 2020 and has reached this juncture.

Commencement of Intra-Afghan Negotiations, today, is the fruit of our combined efforts.

Pakistan and Prime Minister Imran Khan has long maintained that there is no military solution to the conflict in Afghanistan. Political solution is the only way forward.

We are gratified that our perspective is now widely shared across the international community.

We are also gratified that we have fulfilled our part of the responsibility.

It is now for the Afghan leaders to seize this historic opportunity, work together constructively, and secure an inclusive, broad-based and comprehensive political settlement.

The forthcoming negotiations are for the Afghans to decide about their future. The Afghans alone must be the masters of their destiny, without outside influence or interference.

Spoilers, from within and from without, will pose formidable challenges. Constant vigilance will be required to guard against their machinations.

We hope all sides will honour their respective commitments, persevere in the face of all challenges and setbacks, and remain unflinchingly committed to achieving a positive outcome.

Besides Afghanistan, Pakistan is the country that has suffered the most from the Afghan conflict.

Over the past 40 years, we have endured terrorist attacks, loss of precious lives, mass population displacements, instability at the borders, and huge economic costs.

But we have persevered in the face of all difficulties and negativity.

Our citizens and law enforcement personnel have rendered invaluable sacrifices. Our leadership has decisively demonstrated that Pakistan will only be a partner for peace.

At this historic juncture, it is imperative that the mistakes of the past are not repeated. The Afghan people must not be abandoned, as happened before. The progress achieved must not be frittered away.

A peaceful and stable Afghanistan will bring new opportunities for the progress and prosperity of the Afghan people. It will also open new vistas of cooperation and connectivity in the region and beyond.

I suggest a four-pronged way forward. We call upon the international community and all concerned:

1. To continue to support the Afghan-led and Afghan-owned peace process while respecting the consensus that emerges from Intra-Afghan Negotiations.
2. To ensure that Afghanistan neither witnesses the violent days of the past nor becomes a space for elements who would harm others beyond its borders.
3. To deepen and sustain economic engagement with Afghanistan for its reconstruction and economic development.
4. To ensure a well-resourced, time-bound return of Afghan refugees to their homeland with dignity and honour.

At this moment of hope, I reassure our Afghan brethren that Pakistan will always be in full support and solidarity with them as they continue their momentous journey on the path of peace, security and development.

Pakistan will always support a peaceful, stable, united, democratic, prosperous and sovereign Afghanistan, at peace with itself and with its neighbours.

DNA

Islamabad, SEPT 12 – Turkey’s digital airline, Pegasus, continues to expand its international network with the launch of its new Karachi – Istanbul SabihaGökçen flights, connecting Karachi, Pakistan to Istanbul, Turkey. Pegasus’ Karachi – Istanbul SabihaGökçen flights will commence on 25 September 2020.

Flights from Istanbul SabihaGökçen Airport to Quaid-E-Azam International Airport will operate every Monday, Wednesday, Friday and Sunday at 20:35; whilst flights fromQuaid-E-Azam International Airport to Istanbul SabihaGökçen Airport will depart every Monday, Tuesday, Thursday and Saturday at 04:55 (local times apply).

Pegasus Airlines will connect guests from Karachi to its destinations in Manchester, London, Zurich, Paris, Amsterdam, Copenhagen, Dusseldorf, Hamburg, Stockholm, Frankfurt, Berlin, Vienna, Rome, Cologne, Brussels, Kyiv, Bucharest, Kharkiv, Moscow, Stuttgart, Geneva, Barcelona, Marseille, Zaporizhia and Prague, via Istanbul Sabiha Gökçen, with flights now on sale from $309.99.

Pegasus Airlines was founded in 1990 with the mission that everyone has the right to fly. Since launching its scheduled services in 2005, Pegasus Airlines has become Turkey’s first and leading low-cost airline and one of the region’s aviation frontrunners with a growing network across Europe, Russia and the Caucasus, the Middle East, North Africa and Asia. Pegasus Airlines launched its first charter flights in 1990 and was then acquired by ESAS Holding in 2005, since then it has been operating scheduled flights, offering guests competitively priced, comfortable and punctual point-to-point and transit flights operated with the newest aircraft under the auspices of its low-cost model.

‘Pegasus Airlines is warmly welcomed by Gerry’s Group in Pakistan as their local partners.

Turkey and Pakistan have strong cultural history along with the ever-improving economic ties. Pegasus Airlines as a new entrant will further strengthen ties between the two countries.’

Gerry’s has the distinction of being one of the largest aviation groups in Pakistan. With 57 years of success and over 4000 employees in 200+ locations worldwide, Gerry’s Group has a diversified scope of business. Its portfolio stretches over as General Sales Agents for International Airlines, Air Freight, Airport Ground Handling, Telecommunications, Visa Processing, Travel & Holiday, Air Express, Freight & Logistics, Food & Beverage, Information Technology and Real Estate.