DNA

ISLAMABAD, AUG 25 – The export sector in Pakistan has been worse hit due to Covid19 and needs credit and finance support to revive the business and trade. Therefore, all financing schemes should be designed to cater this urgent need of the sector. The experts on business and finance, said this while sharing their views with the participants at online dialogue ‘Credit and Finance Issues faced by exporters amid Covid-19’ organized by the Sustainable Development Policy Institute (SDPI), here on Tuesday.

Senior Joint Director, State Bank of Pakistan, Mr Muhammad Arshad Khan, informed the participants on the occasion that the State Bank of Pakistan (SBP) has increased the financing for exporters. Besides, the long-term financing facility (LTFF) is no more limited to just traditional exporting sectors but also open for potential exporters and new sectors of the economy. In view of Covid-19, he said, the eligibility conditions for accessing Export Finance Scheme (EFS) and LTFF have also been relaxed.   Likewise, the collateral free support to small IT exporters in Pakistan is also being considered by SBP and Ministry of Information Technology at the present.

Mr Muhammed Azam, Joint Director, SBP, while highlighting other measures aimed to facilitate exporters, said that SME borrowers have already been allowed one-year extension in repayment of loans. Besides, SBP along with its field offices continues to conduct capacity building and awareness sessions for SMEs to inform them regarding how to access finance.

He suggested that all SME finance institutions should offer advisory services for small business and startups whereas banks should open dedicated hand holding units for SMEs.

Secretary General at Pakistan Textile Exporters Association (PTEA), Mr Azizullah Goheer, was of view that commercial banks also need to enhance dollar denominated concessional lending to exporters. He said that SBP’s local and field offices should interact more with local businesses. Likewise, Covid-19 related financing should be provided in the quickest possible manner, he concluded.

Mr Kamran Arshad, General Secretary of Punjab chapter of All Pakistan Textile Mills Association (APTMA), welcomed Temporary Economic Refinance Facility (TERF) and said that it is better designed than past export financing schemes. However, more facilitation is needed to help exporters who supply to countries worst hit by the impacts of Covid19. He suggested that SBP can initiate its own insurance mechanisms to ensure exporters’ payments and earn revenue through such measures.

Dr Vaqar Ahmed, Joint Executive Director, SDPI, earlier discussed an overarching scenario of facilitation to exporters in Pakistan and said that recent evaluation of SBP’s export financing schemes shows that while these are increasing export receipts, however these schemes are not leading to export diversification. There is also little evidence if these schemes are adding to export sophistication or towards enhancing variety of exports offered by Pakistan. The export financing schemes need to be designed with a view to encourage exporters to find markets in new countries.

He added further that the central bank is currently incurring high costs for offering subsidized export financing that can be lowered by reconsidering the refinance rates offered to the commercial banks. No export scheme should be sector specific and should be opened for all sectors in the economy, particularly potential and new exporters. He said that export financing remains an under-researched area and we do not have much evidence of how this may have impacted growth and productivity in various exporting industries. In this regard academia and policy think tanks could play a role to bridge any data and information gaps that prevent improvements in these finance schemes at a sectoral level.

He underpinned the need for SBP field offices to engage in regular public private dialogue with small exporters and to report back the findings to the head office so that policies are responsive to small exporters in second-tier cities and rural areas. The other area that should be carefully viewed is that that luring foreign investment in Pakistan’s IT industry has been difficult due to lack of export facilitation for this sector, he added.

Mr Fareed Vardag, representing Pakistan Banks Association, said that small exporters still lack knowledge about foreign trade requirements. Export associations should have a help desk to guide with documentation requirements of central bank and commercial banks.  Dr Fareeha Armughan, Associate Research Fellow at SDPI, highlighted the fact that the commercial banks are still asking for a proven track record and confirmed cash flows and other documentation from firms in distress. These requirements are harsh if firms are facing cancellation of orders from countries which have still not relaxed their lockdowns. The gender-specific barriers to business and trade still exist that need to be addressed, she concluded.

DNA

ISLAMABAD, AUG 25 – A Taliban Political Commission (TPC) delegation, headed by Mullah Abdul Ghani Baradar, called on Foreign Minister Makhdoom Shah Mahmood Qureshi. During the meeting, views were exchanged on the current status of the Afghan peace process and the way forward.

Welcoming the delegation, Foreign Minister Shah Mahmood Qureshi underscored Prime Minister Imran Khan’s consistent stance that there was no military solution to the conflict in Afghanistan and that a political settlement was the only way forward. Highlighting Pakistan’s positive contribution to the peace and reconciliation process, culminating in the U.S.-Taliban Peace Agreement in Doha on 29 February 2020, the Foreign Minister underlined that this historic opportunity must be seized by the Afghan stakeholders to secure an inclusive, broad-based and comprehensive negotiated political solution.

Foreign Minister Shah Mahmood Qureshi reiterated Pakistan’s commitment to a peaceful, stable, united, democratic and prosperous Afghanistan. The Foreign Minister emphasized the implementation of the U.S.-Taliban Peace Agreement, in its entirety, paving the way for the earliest possible commencement of Intra-Afghan Negotiations. The Foreign Minister also cautioned against ‘spoilers’ who did not wish to see return of peace in the region. For its part, the Foreign Minister stressed, Pakistan will continue to support an Afghan-led and Afghan-owned peace process for durable peace, stability and prosperity in the region and beyond.

Foreign Minister Qureshi also highlighted the importance of Pakistan-Afghanistan ties based on amity, shared history and geography and reaffirmed Pakistan’s abiding solidarity with the brotherly people of Afghanistan. He urged the international community to enhance its engagement for reconstruction and economic development of Afghanistan. The Foreign Minister also underscored the need for creating economic opportunities and an environment conducive for return of Afghan refugees to their homeland with dignity and honour.

Mullah Abdul Ghani Baradar thanked the Foreign Minister for the invitation and affirmed support for efforts for peace, security and development in Afghanistan. The delegation also thanked the government and people of Pakistan for their consistent support to the people of Afghanistan, including for graciously hosting Afghan refugees for over four decades.

A Taliban Political Commission delegation led by Mullah Baradar had also visited Pakistan in October 2019 for wide-ranging consultations on the Afghan peace and reconciliation process.

On 25^th August 2020, a meeting was held between Prof. Dr. Niaz Ahmad Akhtar (S.I.) – Vice-Chancellor, University of the Punjab, Lahore and CGSS Management headed by Major General Hafiz Masroor Ahmed, (Retd) – Vice President CGSS.

The discussion of the meeting focused on the establishment of Regional Integration Center (RIC) within premises of University of the Punjab, Lahore. This Regional Integration Center (RIC) will act as a connecting point between Pakistan and all the regional countries for enhancing cooperation in areas of education, research and developmentcultureand student exchange programs.University of the Punjab and CGSS also agreed on enhancing cooperation in area of women empowerment through Academia.

The attendees of the meeting included:

• Brigadier Abdullah Khan (Retd), Member Advisory Board CGSS
• Lt Col Khalid Taimur Akram (Retd), Executive Director, CGSS
• Mehreen Gul, Director, CGSS
• Sobia Khurram, Director, Directorate of External Linkages, University of the Punjab, Lahore
• Palwasha Nawaz, Project Executive, CGSS

ISLAMABAD, AUG 25  (DNA) – As the world fought the deadly coronavirus, the China Culture Centre here never gave up its activities – shifting online to promote China, Pakistan’s iron brother, says a report published by Gwadar Pro on Tuesday.

It is the second cultural center that China established in South Asia, inaugurated by Chinese President Xi Jinping during his last visit to Pakistan.

Since the China Cultural Centre was put into trial operation in September 2014, a series of cultural activities had been held at the place, such as exhibitions China in the Eyes of Pakistani Painters and Review of China-Pakistan Friendship, and cultural performances under themes of China-Pakistan Friendship Year and Happy Chinese New Year.

The China Cultural Centre in Pakistan, working under the Chinese Ministry of Tourism and Culture, organises performances, exhibitions, lectures and other activities around the theme of “cultural activities, teaching and training, dialogues of minds, and information services”.

It also provides services of information consultation, lending of books and journals as well as trainings of Chinese language and culture.

The Centre has become a window for Pakistani people to experience Chinese culture, a platform for deepening China-Pakistan cultural cooperation, and a bridge for enhancing relations between the two peoples.

The establishment of the China Cultural Center in Pakistan is an important symbol of the further deepening of bilateral relations between China and Pakistan.

The Centre’s aim and objective is to strengthen cultural exchanges and cooperation between China and Pakistan and enhance mutual understanding and friendship between the people of two countries.

Since its establishment in Pakistan, China Cultural Centre’s has actively organized various types of cultural activities like cultural performances, visual arts exhibitions, film festivals, film shows, teaching, training, lectures, seminars and other different cultural activities.

The COVID-19 pandemic had a sudden and substantial impact on the arts and cultural heritage sector.

In order to fight the epidemic and convey confidence and determination to overcome the Covid-19, China Cultural Center in Pakistan organised more than 30 Online Cultural activities including photographic exhibitions, documentaries and celebrations on its Facebook official page at ‘China Cultural Center in Pakistan’ which is viewed by more than 8000 audience.

Visiting China Online series of activities covered the exhibitions which were published online on China Cultural Center in Pakistan’s facebook page during these months.

There were a number of online exhibitions during the period. Thousand of visitors Online visited these splendid Chinese cultural exhibitions and there were viewers from all over Pakistan and around the globe though a new digital offering that includes free access to virtual tours, video and pictorial activities.

China Cultural Centre in Pakistan is comprehensively utilising all the humanity resources in the future to showcase Chinese history, culture and stories, promote traditional and contemporary Chinese culture, tourism, intangible culture and making relentless efforts for a new chapter of China-Pakistan friendship as envisioned by President Xi Jinping. DNA

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