LAHORE, AUG 24 /DNA/ – The Ferozepur Industrial Association (FRIA) has welcomed signs of steady economic improvement but cautioned that over-reliance on stock market performance and remittances cannot substitute for genuine industrial revival.

FRIA Chairman Shahbaz Aslam, in a statement, said that Pakistan’s path to sustainable growth lies in strengthening its industrial base, boosting exports, and ensuring productive credit flows into manufacturing rather than speculative investments.

He acknowledged Prime Minister Shehbaz Sharif’s satisfaction over the stock market index crossing 148,000 points and noted that declining inflation and a surplus of USD 2.1 billion in the current account for July-June 2025 were encouraging. However, he pointed out that large-scale manufacturing remained in negative growth of 1.21 percent during 2024-25, while exports fell and the trade deficit widened to USD 26.785 billion compared to USD 22.177 billion the previous year.

“These figures clearly show that industry is under pressure. Rising credit to the private sector has unfortunately gone into the stock market rather than industrial production, which is why our exports are shrinking. Unless industry grows, no stock market surge can be called real progress,” Shahbaz Aslam remarked.

He stressed that poverty levels, at 44.7 percent as reported by the World Bank, highlight the disconnect between financial market gains and the ground realities of the economy. “The poor and vulnerable benefit only when factories expand, jobs are created, and exports rise. That requires long-term industrial policies and reduced cost of doing business,” he added.

While appreciating the rise in remittances — up from USD 2,994 million in July 2024 to USD 3,214.4 million last month — the FRIA chairman warned that dependence on overseas Pakistanis is not sustainable. He urged the government to use the IMF programme as an opportunity to reform taxation and cut wasteful expenditure, instead of squeezing industry further.

“Pakistan’s reserves have improved but remain fragile due to heavy reliance on rollovers. The only way out is industrial growth. The government must work with business associations like FRIA to chart a genuine roadmap for manufacturing-led development,” Shahbaz Aslam concluded.

Pakistan and Bangladesh have achieved a major breakthrough in bilateral relations with the establishment of a joint working group to promote trade and economic cooperation.

High-level talks between the two sides are underway in Dhaka, where multiple agreements and memorandums of understanding (MoUs) have been signed.

The Pakistani delegation is being led by Deputy Prime Minister Ishaq Dar, while the Bangladeshi side is headed by Adviser on Foreign Affairs Touhid Hussain. Senior officials from both countries are also participating.

The discussions cover a wide range of issues, including bilateral ties, economic and trade cooperation, and regional matters.

The two sides are also expected to deliberate on reviving SAARC and enhancing regional collaboration.

ISLAMABAD, AUG 23: Two ruling alliances in Centre — Pakistan Muslim League Nawaz (PML-N) and Pakistan Peoples Party (PPP) — have decided to jointly contest the upcoming by-elections nationwide.

“Both parties [PPP and PML-N] have agreed to contest the by-elections together,” said Hanif Abbasi, a PML-N leader who also holds the federal railways portfolio, while addressing a press conference in Islamabad on Saturday.

Several constituencies are up for grabs as the Election Commission of Pakistan (ECP) recently disqualified several lawmakers belonging to the Pakistan Tehreek-e-Insaf (PTI) following their convictions in cases related to the May 9 riots.

As per the ECP schedule, the by-elections will be staged in the NA-66 Wazirabad, NA-129 Lahore-XIII, and PP-87 Mianwali-III constituencies on September 18, while in NA-143 Sahiwal-lll, NA-185, DG Khan-ll, PP-203 Sahiwal-Vl, NA-96 Faisalabad-II, NA-104 Faisalabad-X, and PP-98 Faisalabad-l, the polling will take place on October 5.

Addressing the presser, Hanif Abbasi said that both parties made the decision in the country’s best interest. “We are allies, and the leadership of both parties has shown maturity,” he added.

Speaking on the occasion, PPP’s Raja Pervaiz Ashraf said that both parties had reached a seat-adjustment formula, under which the candidate from the party that finished runner-up in the previous general election would be fielded again from that particular constituency.

“We welcome the PML-N delegation and have finalised the electoral arrangements amicably,” he added.

Ashraf also thanked Prime Minister Shehbaz Sharif for his role in finalising the agreement.

Several PTI lawmakers, including Omar Ayub, Shibli Faraz, Zartaj Gul and others, were convicted by an anti-terrorism courts in various May 9 cases.

Thousands of supporters of PTI founder Imran Khan stormed public property and military installations, including the Corps Commander House in Lahore, on May 9, 2023, in protest against the former premier’s arrest.

The riots — in which lives were lost — erupted after the PTI founder was taken into custody from the premises of the Islamabad High Court (IHC) in a graft case.

Several PTI leaders and workers were released on bail after their arrests, while many remain behind bars.

ISLAMABAD, AUG 23 (APP): Federal Minister for Information and Broadcasting Attaullah Tarar said on Saturday that national highways in flood affected areas of Khyber Pakhtunkhwa and Gilgit-Baltistan had been fully restored whereas out of 60 affected feeders, 52 were now fully functioning now.

In a media talk over flood situation, he said that under the directives of Prime Minister Shehbaz Sharif, the National Disaster Management Authority (NDMA) was working to overcome the crisis in calamity-hit areas.

He said that the NDMA was in contact with provincial governments and provincial disaster management authorities and district management.

Tarar said that Prime Minister Shehbaz Sharif visited Buner along with Field Marshal Asim Munir where a briefing was given on relief efforts.

He said that Minister for Power Sardar Awais Leghari was in the KP and supervising power restoration process.

He said out of 60 feeders affected in Swat, Shangla, Buner and Swabi, 52 have been restored and work on restoration of remaining 8 is continued. He said that Swat-I division has been fully restored,  Pir Baba and Malikpur 90 per cent restored.

He said that Karakoram Highway and Buner- Khwazakhela Highway were open for traffic. Similarly, Astore bridge on Jaglot-Skardu Road was operational now, he told. The minister said that NDMA, FWO and Pakistan Army were helping provincial governments in opening provincial roads now.

He said on the instructions of the Prime Minister, Federal Minister for Communications Aleem Khan, Secretary Communications and Chairman NHA supervised roads restoration work in calamity-hit areas of KP and GB.

He said a crisis situation was created in Goopis tehsil of GB but due to heroic efforts of many, the people of the area were shifted to safer places.

He said the Prime Minister also talked with Chief Secretary Gilgit-Baltistan Abrar Mirza to make the area safe and secure.

He said that the PM’s Special Cell, NDMA, provincial governments and Pakistan Army were all taking steps for safety of the flood affected people.

He said that in Punjab at Ganda Singhwala on river Satluj, the PDMA was active to control flood situation after the NDMA had given early warning.

ISLAMABAD, AUG 23 /DNA/ – In alignment with Prime Minister Shahbaz Sharif’s nationwide annual monsoon Tree Plantation Campaign, themed for the first week as “One Daughter — One Tree,” PC Hospitality Division, Hashoo Group, one of Asia’s leading hospitality conglomerates, in collaboration with the Capital Development Authority (CDA), organized a large-scale tree plantation drive in the green belt of Main Constitution Avenue, Islamabad. Senior management of both organizations, along with employees, actively participated in planting a wide variety of trees, reinforcing their commitment to a greener, healthier future.

The initiative drew inspiration from the Prime Minister’s vision, particularly the themes of “One Daughter – One Tree,” “Green Canopy,” “One Tree in the Name of Every Martyr,” and “Islam and Tree Plantation.” Employees planted saplings alongside their daughters, symbolizing the nurturing bond between future generations and the environment.

A green canopy promises shade, clean air, and ecological balance, while trees planted in memory of the nation’s martyrs serve as living symbols of sacrifice.

The campaign also highlighted tree plantation as an integral part of Islamic values, where caring for nature is both an act of faith and a moral duty.

Speaking on the occasion, Mr. Bastien Blanc, CEO PC Hospitality – Hashoo Group, said: “Tree plantation is more than placing saplings in the soil – it is a symbol of nurturing life, growth, and future potential.

At Hashoo Group, we are deeply committed to sustainability and regenerative practices that preserve the natural beauty of Pakistan while supporting long-term tourism development. This year’s theme, One Daughter – One Tree, deeply resonates with our values.

It reminds us of the importance of nurturing both our environment and the incredible female talent across the country. Hashoo Group has long championed the empowerment of women, actively creating opportunities for them to grow, lead, and thrive within the hospitality industry.

By standing with CDA and embracing the Prime Minister’s vision, we proudly demonstrate our responsibility towards climate action and national pride. Together, we are building a greener tomorrow”

Mr. Awais Manzoor Tarar, DG Environment CDA, added: “This drive reflects the spirit of the Prime Minister’s campaign, which combines environmental responsibility with social and religious values. Every tree planted today is a step towards combating climate change and strengthening national resilience. CDA is proud to collaborate with Hashoo Group in making Islamabad greener and healthier for its citizens.”

This partnership between PC Hospitality Division, Hashoo Group, and CDA underscores the importance of unity in addressing climate change, expanding forest cover, and promoting sustainable practices.

By envisioning Pakistan’s green flag mirrored in its landscapes, the plantation drive sends a powerful message that building a resilient and eco-friendly future is a shared responsibility.=DNA