DNA

ISLAMABAD, AUG 15 – As part of his initiative to reach out to Overseas Pakistanis, and in the context of 14 August celebrations, the Foreign Minister honoured 86 Overseas Pakistanis from the world over for contributing to combating the Covid-19 Pandemic. Individuals and Organizations that had assisted in alleviating the suffering of humanity during these challenging times in any form or manner were recognized for their efforts. Categories of honourees included those being recognized posthumously; medical professionals; donors; facilitators and Associations.

While interacting with the honourees at a Webinar hosted by the Ministry of Foreign Affairs, the Foreign Minister underlined that Overseas Pakistanis were an important asset for the country. Lauding their exceptional selflessness and generosity, he noted that their acts of kindness, performed without any consideration for reward or recognition, in the face of difficult circumstances, exemplified the true nature and spirit of the Pakistani nation. He declared such individuals and groups of Pakistanis to be the heroes of the nation, and the real Ambassadors of the country.

The Foreign Minister apprised participants of the steps taken by the government to combat the Covid-19 Pandemic, including inter-alia, the policy of TTQ (Testing, Tracing and Quarantine) and Smart Lockdowns, stimulus to select industries; financial relief to the underprivileged in the shape of the Ehsas programme, and expediting the repatriation of over 412,000 Pakistanis from abroad through 478 special flights. He thanked Overseas Pakistanis for contributing to the efforts. Pakistan was faring better than regional peers, and was being cited as a success story in the fight against the Pandemic.

Foreign Minister Qureshi interacted with the families of two deceased medical personnel, based in the UK and Saudi Arabia respectively, who had laid down their lives while serving patients. He also held brief dialogues with heads of Pakistani community organizations in various countries.

The Foreign Minister’s Honours List is being launched as part of Vision Foreign Office, aimed at expanding the reach and interaction of the institution with key stakeholders. The Honours List, along with gist of contributions can be accessed at Ministry’s official website, www.mofa.gov.pk

ISLAMABAD, AUG 15 (DNA) – Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry along with Malik Sohail, Chief Coordinator UBG FPCCI called on Lieutenant General Naweed Zaman, HI (M), (Retired) Rector, NUST University and discussed with him the importance of strong industry-academia linkages for commercialization of innovative business ideas of students in order to improve the industrial development and economic growth of the country.

Admiral Dr. Nassar Ikram HI(M), (Retired) Pro-Rector (Research, Innovation and Commercialization) NUST was also present at the occasion.

Muhammad Ahmed Waheed said that in this age of knowledge economy where technologies were growing rapidly, industries were increasingly relying on technology based solutions of their various problems. He said that universities being the hub of research & development activities should play an enhanced role in finding out innovative solutions of the key issues of industry and the society at large.

He emphasized that universities should focus on applied research to accelerate industrial development. He said that over 60 percent of the population of Pakistan was comprised of youth and universities should focus on fostering entrepreneurship in students to make them job creators instead of job seekers.

He appreciated the efforts of NUST for providing quality education to students in various disciplines and hoped that close collaboration between ICCI and NUST would yield beneficial results for students and industry.

Speaking at the occasion, Lieutenant General Naweed Zaman, HI (M), (Retired) Rector and Admiral Dr. Nassar Ikram HI(M), (Retired) Pro-Rector NUST said that universities could help in improving the productivity, efficiency and competitiveness of industry with strong academia-industry linkages.

They said that research departments of universities were conducting good research in various fields, but due to lack of coordination, local industry was not benefiting from such efforts.

They urged that industry should share its problems with universities so that academia could find out their best solutions. They briefed the President ICCI about the initiatives of the Office of Research, Innovation and Commercialization (ORIC) of NUST that was working actively in different fields of research, design and development and facilitating the innovation and commercialization of research outputs. = DNA

=============================

ISLAMABAD, AUG 15 (DNA) – The Islamabad High Court has said that the Environmental Protection Agency must approve all projects in the federal capital.

The court was hearing a case on pollution and climate change.

The agency has been instructed to act as an independent organisation and take action against violators.

We have reached a stage where we should hold people accountable, Chief Justice remarked on Saturday. “Why isn’t work being done for the protection of the environment?” The federal government should answer this., he said.

The organisation that is responsible for controlling pollution has said that it doesn’t have enough employees.

Federal Minister and Adviser to Prime Minister of Pakistan for Climate Change Malik Amin Aslam and the climate change secretary have been summoned in person on August 22. DNA

================

ISLAMABAD, AUG 15 (DNA) – Prime Minister Imran Khan says the government’s new Blue Economy policy will revitalize Pakistan’s shipping sector, save valuable foreign exchange and create more employment opportunities for seafarers.

In a tweet Saturday, the Prime Minister congratulated the Ministry of Maritime Affairs for finalizing a new and dynamic Blue Economy policy.

The prime minister said the new policy would help save valuable foreign exchange of Pakistan and create more employment opportunities for country’s seafarers.

“We will ensure Pakistan fulfills its enormous maritime potential,” the prime minister resolved.

The Blue Economy concept encompasses many industries like ports, shipping companies, energy, renewable energy, fisheries, maritime transportation, tourism, climate change and waste management besides others.

The Prime Minister had declared the year 2020 as the Year of Blue Economy to gain maximum advantage of the blue economy resources. = DNA

=============================

DNA

ISLAMABAD, AUG 15 – The All Pakistan Business Forum has stressed the need for widening of tax base, which is not possible without curtailing parallel economy, besides reducing present high ratio of tax rates, as country’s tax-to-GDP ratio has dropped to a record low.

APBF President Syed Maaz Mahmood, in a press statement issued here on Saturday called for broadening of tax base and creating jobs through industrialization, providing a competitive edge to Pakistan’s products in global markets through liberal investment policy and infrastructure development, as tax-to-GDP has been suffering a constant decline during 2019-2020 despite imposition of 17 percent sales tax on five major export sectors in budget and other taxation measures to the tune of Rs735 billion.

He said that the FBR’s policy of heavy taxation and over taxation on certain sectors did not provide any relief to increase revenue collection during 2019-2020, as harsh enforcement measures such as the condition of computerized national identity card numbers of the unregistered buyers further damaged the relationship between the tax collector and the taxpayers.

According to reports, calculations of the GDP, inflation, rupee-dollar parity and additional taxation data indicate that the tax-to-GDP ratio was 9.5 percent in 2019-2020; 10.1 percent in 2018-2019; 11.1 percent in 2017-2018; 10.6 percent in 2016-2017; 10.7 percent in 2015-2016; 9.4 percent in 2014-2015; 9.7 percent in 2013-2014; 8.7 percent in 2012-2013; 9.4 percent in 2011-2012, and 8.5 percent in 2010-2011.

Quoting the figures, Syed Maaz Mahmood stated that the FBR had collected Rs3,989 billion in 2019-2020, which was Rs82 billion more than the revised revenue target of 3,907 billion set for 2019-2020. He said that the revenue collection should have been increased during 2019-2020 due to rise in inflation, but the tax collection continued to decline during 2019-2020 because frequent changes at the top level of the FBR during the last two years have also sent a very negative message among the entire workforce of the FBR.

He said that another major issue was increase in smuggling during 2019-2020 due to import compression and substantial raise in customs duties, additional customs duties and regulatory duties on the imported items during 2019-2020.

The number of tax filers increased from 1.8 million in 2018 to 2.4 million in 2020 only due to the measure taken in 2018-2019. However, due to the lack of capacity of desk audit, the FBR failed to achieve desired results, despite increase in the number of filers, he said.

According to reports, the government took Rs735 billion worth of taxation measures in the budget 2019-2020, while the nominal GDP growth was projected at 15 percent, including 3% real GDP plus 12% inflation, which was required to help collect additional taxes of Rs574 billion. The growth in revenue collection in the first four months was at the level of nominal GDP growth of 15 percent.

APBF Chairman Ibrahim Qureshi said that the APBF is concerned over excessively burdening the manufacturing sector that contributed around 21% to the economy, having a share of 70% in tax payments. He added that the APBF have several time proposed a comprehensive action plan for the broadening of tax base and improving the tax-to-GDP ratio. He added that promoting foreign direct investment, increasing the share of direct taxes and slashing the slab of indirect levies topped the proposals presented by the All Pakistan Business Forum for the current year budget 2020-21. He said that the APBF had also suggested that the sales tax slab should immediately be curtailed in order to reduce cost of production and inflationary pressures.

Ibrahim Qureshi said that only political will and drastic steps can revive the economy, which should be grown significantly and constantly for visible impact.

ISLAMABAD, AUG 15 (DNA) – Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel, Secretary General (Federal) Ch Ahmad Jawad on Saturday said national interest demands that we seriously reduce our heavy dependence on foreign countries and aid agencies and develop a viable self-sustaining economy.

Speaking with media, he said weak governance, lack of commitment, corruption, external and internal threats or a combination of these factors led to Pakistan failing to balance its budget and rely heavily on foreign assistance which must to be end.

Indeed, Pakistan is blessed with a unique strategic location but we have overplayed its significance for short-term economic and political gains that have invariably recoiled back on the country.

Though economic survey reveals Pakistan’s economy is set to contract for the first time in 68 years by 0.38% due to the adverse impact of the virus outbreak, and the already volatile financial situation.

However Pakistan can still take advantage of low oil prices, and use this breathing space to strengthen the economy, reduce cost of production, especially utilities, and enhance exports,” he said.

Jawad said “We have to recognise the paradoxes that we face. We are proud to be a nuclear-armed country, and justifiably so, but on the other hand we are so dependent on others to keep our economy afloat. This is a huge contradiction.

On the other hand India has always tried to exploit our economic weakness and pursues policies to further weaken it. Modi government’s deliberate strategy is to maintain diplomatic and military pressure on Pakistan by keeping the LoC active and instigate sabotage activities.

The SG BMP also expressed surprise over instability of rupee despite improving current account position, seeking the central bank’s intervention for stability that it says mandatory for growth.

Jawad termed rupee depreciation “a mysterious development”. Continued fall of rupee is not understandable with a fact that there was no fundamental change in country’s imports during last few months while other economic indicators are also same for a long time.

Despite current account deficit shrank to $2.9 billion in fiscal 2019/20, loest in five years. Import bill fell 19 percent to $44.5 billion during this period but rupee continued to sink. Current account deficit shrank to 1.1 percent of GDP in FY20. Inflows of workers’ remittances grew 6.4 percent to $23.1 billion, “which should have a positive impact on dollar-rupee exchange value”.

He suggested we have to draw new strategy for effective stabilisation once for all, and do reliance on our existing resources, reduce the cost of expenditures for the government departments, strengthen agriculture and revise the strategy of free float of dollar.

Currently dollar price against Pak rupee is over valued; It should be revised back to revive economy; he remarked. DNA

================

DNA

KARACHI, AUG 15  –  COVID-19 has increased the requirement of E-Commerce and Digital Pakistan; this was stated by Sheikh Sultan Rehman, Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in a webinar on “E-commerce and Digital Pakistan: Prospects & Challenges” held at Federation House Karachi, Regional Office Lahore and Capital Office Islamabad via zoom link.

The webinar was attended by Ms Aisha Moriani,Joint Secretary Ministry of Commerce, Mr. Raza Ahmed Sukhera,Project Manager, Ministry of Information Technology, Mr. Shehzad Shahid, Chairman Pakistan Software Houses Association (PASHA),Mr. Talha Nadeem, Senior Analyst, State Bank of Pakistan, Mr. Liaquat Sheikh, Mr. Zain Rafique Project Manager SMEDA, Ms Shamim Rajani, COO Genetech Solutions, Mr. Sultan Hamdani, Maison Consulting & Solutions, Ms Mehreen IIahi, President Karachi Women Chamber of Commerce & Industry (District East), Mr. Altaf Haswani, Sana Safinaz, Mr. Rahim Ali, Ms Jehan Ara, President PASHA Mr. Mehmood Parekh  and other prominent businessmen of Pakistan.

While welcoming the participants, Sheikh Sultan Rehman Vice President FPCCI emphasized on the implementation of E-Commerce and Digital Pakistan policy for the promotion of E-Business in Pakistan. He added that the COVID-19 has increased online business wherein social marketing also plays a crucial role.  Promotion of E-Commerce doesn’t need large investment for the promotion of brand and marketing of new products. He also focused to provide awareness to small businesses for utilization of technology as 64% of Pakistan’s population is youth which can quickly adopt technology and subsequently promotes IT related business.

In her remarks, Ms Aisha Moriani,Joint Secretary Ministry of Commerce updated the participants about important aspects of E-Commerce Policy like  Regulation and Facilitation, Financial Inclusion and Digitization through Payment Infrastructure,  Empowering Youth and SMEs through Business Support Programs and Trade Development, Customer Protection, Taxation Structure,    ICT Infrastructure and Telecom Services in Pakistan,   Logistics, Data Protection and Investment and
Global Connectivity etc. She also informed about the development of cross border E-Commerce system for promotion of trade and establishment of National E-Commerce Councils for promoting start ups, simplifying payment options, reducing disputes and protection of consumer rights.

Mr. Raza Ahmed Sukhera,Project Manager, Ministry of Information Technology also enlightened the participants about development of new softwares, availability of internet access, business facilitation measures, establishment of IT valley, strengthening of R&D in ICT sector, facilitation of SMEs, and start ups etc. He added that there is huge potential in E-Commerce Industry as the Global E-Commerce Sales has reached to US$ 3.4 trillion while Pakistan E-Commerce Sales stands at US$ 2 billion.

Mr. Shehzad Shahid, Chairman Pakistan Software Houses Association (PASHA) indicated that the IT related exports of Pakistan were increased by 23% last year which reflects the potential of this sector. He added that the government has set target for next three years upto US$ 5 billion for E-Commerce Sales. Most of the companies working in IT sector are at small scale and we have to increase investment in IT sector. Technology has improved the business environment and we have to improve connectivity and quality of internet service in order to compete globally. Pakistan is currently using cash on delivery system which has to be digital and in this context, banks should come forward with better incentives in order to facilitate digital payments. He informed that Punjab Government has reduced GST to 5 percent on E-payments and other provinces should also adopt similar policy. Moreover, we have to give incentives on buying of Pakistani products which will improve our innovation and ultimately benefit the domestic industry. Pakistan Post is the only company in Pakistan which has largest logistics network which also need facilitation for improving their services and reduction of cost.

Mr. Talha Nadeem, Senior Analyst SBP also suggested enhancement of role of Pakistan Post in Financial Inclusion and urged for enhancement of It penetration for SMEs, freelance and microfirms. Ms. Shamim Rajani COO Genetech Solutions also requested for holding of training sessions on digital marketing particularly for handicrafts and other products of women entrepreneurs.

Mr. Altaf Hashwani Sana Safinaz also updated the houses about growth in their business with E-Commerce domestically to 70 percent. Ms Mehreen Illahi stated about the involvement of E business in fashion and handicraft industry.