ISLAMABAD, May 7 (DNA): The Faculty of Economics of Chulalongkorn University, Thailand has established the “Undergraduate Scholarship Program for International Students” to provide financial assistance to qualified non-Thai students who wish to study in Thailand through the competitive international EBA program.

According to the Higher Education Commission (HEC), the EBA program is Thailand’s most important and innovative program in the field of economics.

“With a vision to be an internationally competitive program that aims to produce economists who are highly qualified to contribute to society with ethical and social responsibility”, its primary objective is to produce outstanding undergraduates.

To fulfill its vision, the EBA program pursues the mission of equipping students with excellent and in-depth knowledge that meets international standards of excellence.

It was also intended to emphasize the development of basic competencies for lifelong learning, such as skills and personal attitudes, and to consider this as an integral part of a high-quality undergraduate education in economics.

The latest curriculum in the EBA program focuses on private-sector economics, a field that meets students’ general interests and career goals.

Multilateral and bilateral exchange agreements with several leading institutions in the European Union and Asia have provided excellent opportunities for EBA students to study abroad for one or two semesters.

The EBA program was awarded the AUN-QA (ASEAN University Network Quality Assurance) certification in 2015.

Furthermore, EBA is increasing the number of its partner institutions in every corner of the world. Our exchange number of incoming and outgoing students has been raised to promote an international atmosphere in the program, the sources added.

ISLAMABAD, MAY 6 /DNA/ – A delegation of International Investors called on Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb to delve into the economic dynamics and investment prospects of Pakistan at Finance Division, today.

The meeting, organized by Standard Chartered Bank, was attended by Chief IR Ops. FBR Mr. Ijaz Hussain, Special Secretary Finance and other senior officers from Finance Division. Senior officials from the bank were also present in the meeting.

The Finance Minister welcomed the delegation and assured that the present government has taken all pragmatic measures to facilitate the business environment in Pakistan. During the session, he highlighted the macroeconomic stability in terms of reduced inflation and surge in stock market signaling burgeoning investor confidence.

Moreover, Senator Muhamamd Aurangzeb shed light on the government’s tax initiatives, emphasizing the agenda to broaden the tax base and expedite the digitalization process of the Federal Board of Revenue (FBR). Privatization endeavors, commencing with Pakistan International Airlines (PIA), were also delineated, with a commitment to extend privatization efforts to additional sectors in the near future.

The Minister for Finance and Revenue shared that Pakistan is gradually moving toward economic stability and it is high time to invest in Pakistan. He stressed upon the potential of IT and Agriculture sector in Pakistan and the need for local as well as international investment in these sectors to boost the country’s economy.

The delegation discussed the economic situation and outlook of the country with the Finance Minister. Investors held a comprehensive discussion with the Finance Minister regarding IMF program, upcoming budget targets, market perception and outlook, as well as the situation of foreign reserves.

Reaffirming the commitment to fostering economic growth, the Federal Minister for Finance and Revenue pledged to streamline processes, provide necessary incentives, and ensure a stable regulatory framework. Investors were encouraged to explore opportunities with confidence, as the government remains dedicated to facilitating their ventures and contributing to the nation’s prosperity.

In conclusion, the meeting underscored the collaborative efforts between Pakistan and international investors in fostering economic resilience and sustainable growth. The dialogue served as a testament to Pakistan’s commitment to fiscal prudence, investor-friendly policies, and inclusive economic development.

DNA

Islamabad – Pakistan has made significant progress in raising tobacco taxes but the country still falls short in fully implementing World Health Organization (WHO) recommendations aimed at both saving lives and curbing tobacco use.

The WHO recommends that the tobacco excise taxes should be at least 70 percent of the retail price.

According to details, there is a two-tiered system of Federal Excise Duty (FED) on cigarettes. Following the increases during 2022-23, current FED share in retail prices stands at 48 percent and 68 percent respectively for low and high tiers.

The Global Tobacco Index said that Pakistan has been a Party to the WHO Framework Convention on Tobacco Control (WHO FCTC) since 2005. Progress has been achieved in enforcing tobacco control measures; however tobacco industry interference has resulted to weakened policies.

The Global Tobacco Industry Interference Index 2023 has ranked Pakistan at 32 position and noted that tobacco taxes, as a percentage of the retail price, stood at 61 percent whereas the global standard is at 70 percent.

“We urge the government to align its policies with WHO recommendations and save lives,” said Malik Imran Ahmed, Country Head of Campaign for Tobacco Free Kids (CTFK).

In its latest policy paper, “Recovering Healthcare Costs and Saving Lives”, the Social Policy Development Centre (SPDC) has proposed a 37 percent increase in FED in the next fiscal year’s budget.

The SPDC estimates that the country can save 265,000 lives, generate an additional revenue of Rs 37.7 billion and push 757,000 people to quit smoking through increasing the FED by 37 percent.

Pakistan has already suffered a staggering loss of Rs 567 billion in revenue over the past seven years due to the influence of cigarette companies lobbying against tax increases.

“Pakistan direly needs robust implementation of WHO recommendations,” said Maryam Gul, Director, Center for Research and Dialogue (CRD).

He said that Pakistan still trails behind regional countries and the rest of the world, due to low cigarette prices.

Pakistan is among the country where smoking has high prevalence.  The data shows that a staggering 31.6 million adults—equivalent to nearly 20% of the adult population—use tobacco products in Pakistan.

Alarmingly, tobacco consumption is responsible for approximately 160,000 deaths annually, accounting for a considerable 1.4% of the country’s GDP in healthcare expenses each year.

This afternoon, the Ambassador of Italy, Marilina Armellin paid a courtesy call on Prime Minister Muhammad Shehbaz Sharif at the Prime Minister’s House.

Welcoming the Ambassador, the Prime Minister stated that Pakistan deeply valued its multifaceted relations with Italy spanning over many decades, which had always been marked by goodwill and trust. He added that the two sides also shared similar views on a number of important regional and global issues.

Thanking the Italian leadership for the congratulatory message that he received on his re-election, the Prime Minister conveyed his sincere commitment to work closely with Italy to further cement bilateral ties in the days ahead.

Emphasizing the importance of high-level exchanges, the Prime Minister extended a cordial invitation to H.E. Ms. Giorgia Meloni, Prime Minister of Italy, to undertake an official visit to Pakistan. He conveyed his appreciation for Prime Minister Meloni’s policies at home and abroad that had made Italy an important member of the EU.
Expressing satisfaction over the positive trajectory of Pakistan-Italy bilateral relations, the Prime Minister urged the two sides to enhance cooperation in the fields of education, trade and investment, legal migration, as well as cultural exchanges. He thanked Italy for hosting a large population of Pakistani diaspora who were acting as a bridge between both countries while also contributing to their economic growth.

The Ambassador thanked the Prime Minister for receiving her and assured him that Italy was keen to further enhance its ties with Pakistan. She said she would strive to promote stronger relations between the two countries.

ISLAMABAD, MAY 6: /DNA/ – An investigation by the Competition Commission of Pakistan (CCP) has provisionally concluded that M/s. Pakistan Telecommunication Company Limited’s (PTCL) proposed acquisition of M/s. Telenor Pakistan (Private) Limited (TP) and Orion Towers Private Limited (OT) could lead to a substantial lessening of competition in the telecommunication industry.

PTCL is a public-listed company and specializes in providing various telecommunication services such as cellular mobile telephony service, Wireless Local Loop service, Direct-to-Home television service and financial services through its subsidiaries across Pakistan, Azad Jammu & Kashmir (AJK) and Gilgit Baltistan (GB).

Telenor Pakistan (Private) Limited and Orion Towers Private Limited are wholly-owned subsidiaries of M/s. Telenor Pakistan BV (TPBV) and are engaged in providing cellular mobile and allied services in Pakistan, AJK and GB.

PTCL, which was founded in 1995, has already been declared as a Significant Market Power (SMP) Operator in Wholesale Domestic Leased Lines, Wholesale IP Bandwidth and Retail LDI Fixed-Line Telecommunication market by the Pakistan Telecommunication Authority (PTA). With existing overlaps, the CCP found that, should the deal go ahead, the merger is likely to reduce choice, options, and competition in markets where there are only very few competitors and could lead to worse outcomes for the customers.

M/s. Pakistan Mobile Telecommunications Limited acquisition of M/s. Warid Telecom (Private) Limited reduced the number of network operators in 2016. Through the proposed merger, one out of remaining four players would also be eliminated from the industry. The CCP is concerned that this lessening of competition may result in higher prices or a reduction in choice or quality for customers hence, the transaction will be referred for an in-depth Phase 2 analysis.

The CCP aims to provide better services and product to the consumers of Pakistan by increasing competition in the telecommunication industry.

KARACHI: Iran has hailed Pakistan’s political determination to complete the gas pipeline project between the two countries, which has been facing delays.

Iran’s Consul General to Pakistan Hassan Nourian on Monday said that Tehran and Islamabad “are looking at ways to complete the project but international pressure is causing delays”.

The comments came during a “Meet the Press” session at the Karachi Press Club, where the Iranian official interacted with journalists.

He said that the Iran-Pakistan gas pipeline “project holds great importance”.

“We see political determination from Pakistan to complete the project,” he added.

The two countries signed the agreement to construct the pipeline from Iran’s South Fars gas field to Pakistan’s Balochistan and Sindh provinces in 2010, but work on Pakistan’s portion has been held up due to fears of US sanctions.

Nourian further said that the recent visit of Iranian President Ibrahim Raisi to Pakistan was a significant step in bilateral relations between the two countries.

On the visit, he said, the two sides had discussed expediting bilateral trade through Gwadar and Chah Bahar ports, prisoner exchange and other economic and political affairs.

Both the countries agreed to control terrorism and security cooperation as well, he added.

The below is attributable to Acting U.S. Mission Spokesperson Thomas Montgomery

ISLAMABAD, MAY 6 /DNA/ – U.S. Ambassador Donald Blome met today with Leader of the Opposition in the National Assembly Omar Ayub Khan and other senior members of the opposition to discuss a broad range of issues important to the bilateral relationship, including U.S. support for continued economic reforms, human rights, and regional security.  

Highlighting the importance of long-term reforms for sustainable economic growth for a stable and secure future for the people of Pakistan, Ambassador Blome underscored the United States’ support for Pakistan to engage constructively with the IMF on its reform program.

The Ambassador highlighted the importance of the two countries’ shared interests and the many opportunities to advance our shared goals, including accelerating projects addressing climate change under the Green Alliance framework.

Three-member bench suspends Peshawar High Court, Election Commission verdicts

Ansar M Bhatti

ISLAMABAD: To the disappointment of those government functionaries who wanted to amend Article 175 and 178 of the Constitution to fix the tenure of the Chief Justice of Pakistan for three years or increase the retirement age for apex court judges from 65 years to 68 years, the Supreme Court on Monday suspended the orders of the Peshawar High Court and Election Commission of Pakistan.

The Peshawar High Court had rejected the Sunni Ittehad Council plea seeking reserved seats. The Election Commission of Pakistan had allocated the reserved seats to other political parties. A total of 78 seats were allocated to difference political parties. The allocation of reserved seats had altered the voting structure in the parliament in favour of the sitting government granting it two-thirds majority.

The Supreme Court also ordered that in future these 78 lawmakers shall not take part in any vote counting in the parliament. After this order, the government has lost two-thirds majority, which means the government may not be able to amend the Article 175 and 76 dealing with judge tenure and appointment.

In March, a five-member PHC bench, headed by Chief Justice Ibrahim Khan, and comprising Justice Ishtiaq Ibrahim, Justice Ijaz Anwar, Justice Arshad Ali and Justice Shakeel Ahmad had rejected the SIC’s petition against ECP’s decision depriving it of reserved seats.

The electoral body had ruled that the SIC was not eligible for reserved seats allotted to women and minorities “due to non-curable procedural and legal defects and violations of mandatory provisions of the Constitution”.

While rejecting the plea of SIC, the ECP accepted applications of the opposing parties and decided that the seats in the National Assembly would not remain vacant and be allocated by a proportional representation process of political parties on the basis of seats won by political parties.

In response, the SIC moved the SC court last month urging the apex court to allot the party the 67 women and 11 minority seats in the National and provincial assemblies and set aside the PHC ruling.

The SIC’s plea contends that reserved seats for women and minorities are given to the parties in the national and provincial assemblies on the basis of proportional representation and no party can be given more reserved seats than its representation.

It is to be noted that the issue of reserved seats had been a point of contention between the SIC, which primarily comprises Pakistan Tehreek-e-Insaf-backed independent candidates, and the ruling parties notably Pakistan Muslim League-Nawaz (PML-N), the Pakistan Peoples Party (PPP) and others.

Dozens of members of the PPP, PML-N, Muttahida Qaumi Movement-Pakistan (MQM-P) have taken oath on reserved seats following the PHC’s verdict.

During the hearing today, Justice Shah, while referring to the ECP’s decision to distribute the reserved seats, questioned how political parties can secure seats other than those for which they were eligible with regard to their proportional presence in the assemblies.

“Can the remaining seats be given to them [political parties]? Is there anything related to it provisioned in the law?” the judge questioned.

He further asked: “If there is no such provision in the law, then is it not against the constitutional scheme to do so?”

The judge inquired if the reserved seats can be redistributed in the second phase.

“The real issue is that of the public mandate [and] we have to protect it,” Justice Shah noted.

Meanwhile, expressing his views, Justice Minallah inquired about the legality of indirectly ignoring the mandate of a political party and also questioned what is to be done with the remaining reserved seats.

Reacting to the apex court’s decision, PTI Chairman Barrister Gohar Khan reaffirmed his party’s faith in the judiciary and termed the ECP’s ruling depriving them of reserved seats “unconstitutional”.

“We kept saying throughout this process that we were subjected to unconstitutional treatment,” Gohar said while speaking with journalists outside SC in Islamabad.

Whereas, PTI leader Salman Akram Raja referred to the development as a defeat for those who were responsible for distorting the Constitution.

“The Constitution and the law will emerge victorious […] we will continue our struggle in the courts as well in the public,” he added.