ISLAMABAD: Pakistan’s exports of goods increased by 18 percent to $25.3 billion during the last fiscal year, said the commerce ministry on Thursday, adding it was the highest growth rate recorded in the country’s history.
The ministry informed that the export of services during FY21 had been projected at $5.9 billion, implying that Pakistan’s overall exports had surpassed $31 billion.
“This is a remarkable achievement by our exporters considering the difficulties created by COVID-19 at home and resultant contractions in our major markets,” the prime minister’s advisor on commerce, Abdul Razak Dawood, said in a statement.
“It was not an easy task as many countries went into lockdown which severely affected the business,” he continued. “Not only our exports survived the crisis but also we enhanced them in many sectors. I salute our exporters on achieving the milestone.”
Meanwhile, the commerce ministry maintained the government had taken several measures to improve industrial competitiveness by rationalizing customs duty and other tariff forms.
“Since 2018-19, tariff on more than 4,000 inputs (i.e. raw materials, intermediate and capital goods) have been rationalized,” it said in the official statement. “As a result, almost 40 percent of total inputs in terms of number of tariff lines as well as value of imports are at zero percent duty.”
The ministry maintained it would continue with the tariff reforms in the coming years.
“With the current measures exports are expected to grow by five percent in the next two years,” said the statement.
Exports increase by 18% in highest ever growth recorded in Pakistan's history
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Exports increase by 18% in highest ever growth recorded in Pakistan's history
- The commerce ministry maintains this is the highest ever growth rate recorded in the country’s history
- The government expects a further increase of five percent in Pakistan’s exports in the next two years
Pakistan establishes two hospitals, ten dispensaries in Makkah and Madinah for Hajj pilgrims
- Pakistan Hajj official says over 400 doctors and paramedics will serve pilgrims during Hajj 2024
- Over 16,000 Hajj pilgrims have arrived in Saudi Arabia weeks before Islamic pilgrimage starts
ISLAMABAD: Pakistan has established two hospitals and 10 dispensaries in the holy cities of Makkah and Madinah to provide health care for Hajj pilgrims, the head of the country’s medical mission in Saudi Arabia confirmed on Thursday, as hundreds of pilgrims arrive daily in the Kingdom ahead of the annual Islamic pilgrimage.
Pakistan’s Ministry of Religious Affairs (MoRA) has confirmed that more than 16,000 pilgrims from the country have arrived in Saudi Arabia weeks before Hajj 2024 begins.
This year, 179,210 Pakistanis will perform Hajj under government and private schemes. Pakistan kicked off a month-long flight operation last week, with five airlines— PIA, Saudi Airlines, Airblue, Serene Air, and Air Sial— operating 259 flights from eight major Pakistani cities to Jeddah and Madinah until June 9.
“We have established two main hospitals and ten dispensaries in Makkah and Madinah,” Brig. Jamil Lakhiar, the director of Pakistan’s Hajj Medical Mission, told Arab News from Madinah.
“One main hospital and eight dispensaries are in Makkah, while one hospital and two dispensaries are in Madinah,” he shared.
He said Pakistani pilgrims’ residences in Makkah have been divided into nine zones. One zone has the main hospital in it while each of the remaining eight zones have a dispensary each.
Lakhiar said around 400 doctors and paramedics have been selected this year for the Hajj Medical Mission, who were gradually arriving in Saudi Arabia with pilgrims to perform their duties.
The Pakistani official said members of the medical mission were selected by the religion ministry on a pre-defined formula based on merit. He said the mission comprised 70 percent of civilians while 30 percent were selected from the armed forces.
“At the hospitals, we have specialists including cardiologists, gynecologists, pediatricians, pulmonologists, dentists, and others,” Lakhiar said. He said both hospitals were equipped with X-ray, ultrasound, and lab testing facilities where minor procedures could be performed.
He said patients suffering from serious ailments are referred to Saudi hospitals for further treatment.
“In every dispensary, one doctor, two paramedics and one pharmacist will be present round the clock in different shifts,” Lakhiar said, adding that each dispensary has an ambulance as well.
“So far in Madinah, we have treated more than 500 Pakistani pilgrims for various minor issues,” he disclosed.
The official said all treatments, tests and medicines were provided free of cost to pilgrims.
“Every doctor and paramedic has to return after 45 days, that is why their arrival is staggered so that when one leaves, there will always be others available to replace them until the last flight,” Lakhiar said.
Deputy PM Dar invites Chinese entrepreneurs to set up labor-intensive industries in Pakistan
- Deputy PM Dar delivers keynote address at Pakistan-China Roundtable Conference in Beijing
- Dar says Pakistan offers “attractive incentives” in exchange for setting up industrial units in country
ISLAMABAD: Deputy Prime Minister Ishaq Dar on Thursday invited Chinese entrepreneurs to establish labor-intensive industries in Pakistan, state-run Radio Pakistan reported, as Islamabad seeks foreign investment to bolster its fragile $350 billion economy.
Dar arrived in Beijing on May 13 to co-chair the fifth round of the China-Pakistan Foreign Ministers’ Strategic Dialogue with his counterpart Wang Yi.
The deputy prime minister undertook the visit to bolster relations with China, assure Beijing that Pakistan would enhance the security of Chinese nationals and hold key meetings with business officials and entrepreneurs there.
“Deputy Prime Minister and Foreign Minister Ishaq Dar has invited Chinese entrepreneurs to take advantage of the investment-friendly policies and set up labor-intensive industry in Pakistan,” Radio Pakistan reported.
Dar made these comments during his keynote address at the Pakistan-China Roundtable Conference in Beijing. The deputy prime minister said Islamabad had expedited the construction of special economic zones in the country and offers “attractive incentives” to establish different industrial units in the country.
“He said the government has worked out 13 key areas having great potential for Chinese and Pakistani entrepreneurs to establish industry on ownership basis or through joint venture with Pakistani business people,” the state-run media said.
Separately, the minister met Wu Fulin, chairman of China’s EXIM bank to discuss its long-standing cooperation with Pakistan and the bank’s interest in conducting future investments in the South Asian country.
“Ishaq Dar particularly noted the stellar performance of the Pakistan Stock Exchange and renewed confidence of international investors in Pakistan’s economy,” Radio Pakistan said.
Dar invited the bank to explore new financing projects in Pakistan in renewable energy, agriculture, industrialization, and industrial sectors.
Beijing has been one of Islamabad’s most reliable foreign partners in recent years, readily providing financial assistance to bail out its often-struggling neighbor. In July last year, China granted Pakistan a two-year rollover on a $2.4 billion loan, giving the debt-saddled nation much-needed breathing space as it tackled a balance-of-payments crisis.
China has invested over $65 billion in energy and infrastructure projects as part of the China-Pakistan Economic Corridor (CPEC). The project is part of President Xi Jinping’s ambitious Belt and Road Initiative. CPEC is designed to provide China with a shorter and safer trading route to the Middle East and beyond through Pakistan.
Dar’s visit comes amid Pakistan’s recent push for foreign investment, with Islamabad seeing a flurry of high-level exchanges from diplomats and business delegations in recent weeks from Saudi Arabia, Japan, Azerbaijan, Qatar and other countries.
Prime Minister Shehbaz Sharif has vowed to rid the country of its chronic macroeconomic crisis through foreign investment and efficient handling of the economy.
Islamabad court puts spotlight on ‘abduction’ of poet critical of army amid Azad Kashmir protests
- Ahmed Farhad Shah, poet and journalist from Azad Kashmir, went missing from his Islamabad residence on Tuesday night
- Shah’s recent social media posts were highly critical of Pakistan’s powerful military and government in backdrop of Azad Kashmir protests
ISLAMABAD: The Islamabad High Court (IHC) on Thursday asked the defense secretary to present a report on the “abduction” of a poet and journalist from Azad Kashmir Ahmed Farhad Shah allegedly by Pakistan’s intelligence agencies, local media widely reported.
Shah, who had taken to social media in recent days to criticize Pakistan’s powerful military for the recent inflation protests in Azad Kashmir in which three people were killed, went missing from his Islamabad residence on Tuesday night.
Shah’s wife Ain Naqvi filed a petition at the IHC on Tuesday against her husband’s alleged abduction, requesting for his recovery. She urged the IHC to identify, investigate and prosecute those responsible for his disappearance.
Shah’s wife was represented in court on Thursday by lawyers Imaan Zainab Mazari and Hadi Ali Chatha while Senior Superintendent of Police Jameel Zafar, Assistant Attorney General Usman Rasool Ghuman and other officials were also present, Pakistani newspaper Dawn reported.
“At this stage, learned counsel for petitioner contends that petitioner has specifically nominated Inter-Services Intelligence in abduction,” Dawn reported, quoting a copy of the order issued by Justice Mohsin Akhtar Kayani.
“Therefore, secretary Ministry of Defense is directed to submit a concize report after seeking report from relevant quarters of Inter-Services Intelligence, as well as from Military Intelligence, with an explanation as to how and under what circumstances the detenu has been kidnapped and abducted from Islamabad Capital Territory, on the next date of hearing,” the order read.
The hearing was then adjourned till Monday.
Rights organizations have accused Pakistan’s military and intelligence agencies of illegally detaining and torturing dissenters without any explanation. Pakistan’s military and intelligence agencies deny they carry out enforced disappearances.
Pakistan Peoples Party (PPP) politician Mustafa Nawaz Khokhar appreciated the court for “thundering” for Shah’s recovery and summoning the defense secretary to the next hearing.
“Glad to see the court taking a categorical position and wishing @ImaanZHazir & his family the best,” Khokhar wrote on social media platform X.
Pakistan PM forms committee to probe fault in Neelum-Jhelum hydropower project
- Power generation at Neelum-Jhelum project was suspended earlier this month due to a technical fault
- PM Sharif wants third-party experts to probe matter, says delay in findings of inquiry will not be tolerated
ISLAMABAD: Prime Minister Shehbaz Sharif formed a cabinet committee on Thursday to probe a technical fault in the 969MW Neelum-Jhelum hydropower project, which was shut down earlier this month after a problem was detected in its head race tunnel.
Located on River Neelum in Azad Kashmir, the project generates 5.15 billion units of power annually but has faced several problems over the years. The project first shut down in 2022 after a fault was detected in its head race tunnel but was later restored after a year in September 2023. The same problem was detected in April 2024 and power generation was suspended again earlier this month.
Sharif called for an urgent probe into the matter when he visited the project site during his day-long visit to Azad Kashmir, a statement from the Prime Minister’s Office (PMO) said.
The prime minister expressed his displeasure that the inquiry’s findings were still not finalized, directing officials to submit a report on the matter within days and restore power generation after repair work was done as early as possible.
“I am very much clear. I need a thorough probe into whether lapses were in the design or in the construction and the responsibility should be fixed,” Sharif was quoted as saying by the PMO.
“No more delays will be acceptable.”
Sharif lamented that $5 billion was spent on the project despite its initial cost being estimated at $40 million, adding that it was unfortunate that the project was still facing technical issues.
The prime minister described the Neelum-Jhelum project as one of “national significance” in the power sector, saying it was constructed at a huge cost and must remain functional for decades.
He directed that the inquiry must be carried out by third-party experts and not by the designer or contractor of the project.
“If a mistake has been made and someone has committed an excess, then they will have to pay the fine,” Sharif said. “This is the trust of the nation, we will have to answer to them.”
Pakistan says will withdraw tax exemptions for industries in former tribal regions
- Tax exemptions, duty concessions approved in 2018 for FATA and PATA set to expire on June 30
- Finance Minister Aurangzeb says business communities across country want equitable conditions
KARACHI: Pakistan’s government will not extend the preferential tax treatment for the erstwhile Federally Administered Tribal Areas (FATA) and the Provincially Administered Tribal Areas (PATA), Finance Minister Muhammad Aurangzeb said on Thursday, saying that business communities across the country were demanding equitable conditions for industries nationwide.
Pakistan approved tax exemptions for erstwhile FATA, tribal areas in northwestern Pakistan which were merged with the Khyber Pakhtunkhwa (KP) province, in 2018. The exemptions were also extended to PATA, regions within KP which are administered by the provincial government due to their historical and cultural significance.
The exemptions were extended till January 2023 but were granted another extension for one year. They are now set to expire on June 30, 2024.
KP lawmakers this week demanded the government extend the incentives for the regions, saying that many princely states in northwestern Pakistan decided to join the country after independence when they were promised tax exemptions.
“These exemptions are set to expire on June 30 this year by operation of law,” Aurangzeb said during a session of the National Assembly. He was responding to a call attention notice on the withdrawal of tax exemptions and concessions in former FATA and PATA areas.
He clarified that the government is not “proposing any new legislation” to extend the tax exemptions.
“The exemptions at that time were given for sales and income tax to integrate these areas into the mainstream economy,” the finance minister explained. He added that business communities, throughout their interactions with the government, were demanding equitable conditions for industries across the country.
The exemptions were granted to industrial units of iron/steel, plastics, ghee, textile and other sectors and industries located in former FATA and PATA areas.
Aurangzeb said business delegations from across Pakistan were seeking tax exemptions in line with those offered to ex-FATA and PATA.
“Since the past few days various chambers have been coming in including steel, fabric, tinplate, oil, tea, and ghee,” Aurangzeb said. “They all are consistently asking about preferential tax treatment.”
Former National Assembly Speaker Asad Qaiser last week urged the federal government to extend the exemptions till 2028. He had argued that the withdrawal of tax exemptions would adversely impact industrial growth and employment in the areas.
Some areas of northwestern Pakistan, including Malakand division, have been observing shutter-down strike for the past few days against the government’s decision to bring PATA under the tax net.
