Latest

PM hails Rs3bln export insurance initiative by EDF, EXIM Bank to boost SME exports

LAHORE: Prime Minister Muhammad Shehbaz Sharif on Saturday welcomed the provision of export insurance coverage by the Export Development Fund (EDF) and the Export-Import Bank of Pakistan (EXIM Bank), particularly for small and medium-sized enterprises (SMEs), saying the initiative would help increase the country’s exports.

Chairing a meeting on the Export Development Fund, he said the Rs3 billion Risk Pool would expand access to export credit insurance, especially for SMEs, and facilitate the business community in increasing the volume of exports.

He termed the initiative a highly welcome step for promotion of small and medium-sized businesses in the country and appreciated the EDF team for undertaking reforms aimed at strengthening the national economy. PM Shehbaz Sharif said that following restructuring and reforms, the leadership of the EDF had been entrusted to private-sector professionals. He added that all funds available with the EDF were being utilised to facilitate the business community.

“These measures reflect the Government of Pakistan’s commitment to promoting the national economy and increasing exports,” the PM said, adding that such initiatives would help Pakistan emerge as a global hub for investment. He said the government’s measures were aimed at fulfilling its commitment to promoting an export-led economy.

During the meeting, the prime minister was briefed on the restructuring and reforms of the Export Development Fund. The briefing was informed that the entire Rs24 billion available with the EDF had been allocated for investment to facilitate the business community.

The meeting was further informed that no additional expenditure would be made on infrastructure, while the EDF was undertaking initiatives related to research, skills development and enhancing competitiveness to support economic growth and facilitate businesses.

The briefing also noted that measures were being taken regarding the extension of Pakistan’s preferential trade arrangement under the GSP Plus status to maintain the country’s access to the European market.

The meeting was attended by Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Federal Ministers Muhammad Aurangzeb, Rana Tanveer Hussain, Jam Kamal Khan and Ahad Khan Cheema, Minister of State for Finance Bilal Azhar Kayani, Prime Minister’s Adviser Haroon Akhtar, EDF Board Chairman Umar Saeed and senior officials of relevant institutions.

Latest

Health minister orders probe into Sindh MDCAT complaints

ISLAMABAD:Federal Minister for Health Syed Mustafa Kamal has taken notice of alleged irregularities in the Medical and Dental College Admission Test (MDCAT) held in Sindh and ordered a comprehensive inquiry into the complaints.

According to official sources, the minister directed a five-member committee, including the President of the Pakistan Medical and Dental Council (PMDC), to conduct a transparent investigation and submit its report within 15 days.

The committee has been tasked with examining the complaints and reviewing the circumstances surrounding the alleged irregularities during the examination, sources said.

The minister directed the committee to complete the inquiry within the stipulated timeframe and present its findings for further action in accordance with the applicable rules.

Latest

CDA chairman directs faster work on Expressway East project

ISLAMABAD: Capital Development Authority (CDA) Chairman Sohail Ashraf has directed officials to accelerate work on the Islamabad Expressway Service Road East project while ensuring strict compliance with approved designs and construction standards.

During an inspection of the project on Saturday, the chairman reviewed progress and was briefed on ongoing works and the next phase of development.

He directed the project director and relevant departments to maintain continuous field monitoring and quality control and ensure effective traffic management to minimise inconvenience to commuters.

The chairman described the Expressway East project as an important infrastructure scheme for improving connectivity, traffic flow and road capacity in the capital. He also stressed that construction quality should not be compromised in efforts to meet the project timeline.

During the visit, he was also briefed on an ongoing enforcement operation against unauthorised and illegal construction along the Islamabad Expressway.

According to the CDA, 377 buildings have been identified for action, including 281 commercial structures. So far, 58 buildings have been sealed, while 124 buildings between Sohan and Khanna bridges have been marked for demolition.

The authority said Rs234.685 million had been recovered through land-use conversion, unauthorised construction and de-sealing charges. Around Rs3 billion remained recoverable under applicable regulations in connection with land-use conversion and violations relating to unauthorised construction, setbacks, floor area ratio and covered area.

The chairman directed the relevant departments to ensure strict enforcement of building-control and land-use regulations, particularly mandatory fire-safety requirements.

The enforcement operation is being conducted by the CDA’s Building Control Section and Enforcement Directorate in coordination with the district administration and Islamabad police.

Latest

GB ministers call on Governor Kundi

PESHAWAR: Governor Khyber Pakhtunkhwa Faisal Karim Kundi on Saturday held a meeting with a delegation of Gilgit-Baltistan ministers at the Governor’s House here and discussed the country’s political situation and other matters of mutual interest.

The delegation comprised Gilgit-Baltistan Minister for Local Government and Rural Development Zulfiqar Ali Murad, Minister for Health Iqbal Hassan and Minister for Education Aman Ali Ameer.

During the meeting, the two sides exchanged views on the prevailing political situation in the country and various issues of mutual interest. They also discussed the recent elections in Gilgit-Baltistan and the Pakistan Peoples Party’s success in the polls.

The visiting ministers were taken on a tour of the Governor’s House. Governor Kundi presented them with traditional shawls and caps.