CMYK
Saturday, 28 March, 2020 I 03 Shaban, 1441 I Rs 20.00 I vol X no 269 I 12 Pages I Karachi edition
Pakistan braces for ‘worst-case scenario’ g
g
PM IMrAn SAyS gOVt hAS nO IDeA ‘whAt SItuAtIOn wIll be lIke In twO weekS’
g
SAyS ‘COrOnA relIef tIgerS’ wIll helP gOVt PrOVIDe fOOD tO POOr PeOPle, MAP Out AffeCteD lOCAlItIeS
SAyS gOVt hAS lIfteD bAn On gOODS trAnSPOrt, nO ShOrtAge Of wheAt In COuntry
LAHORE/ISLAMABAD STAff REpoRT
ISLAMABAD
P
STAff REpoRT
rIMe Minister Imran khan on friday said the government would set up a special youth force to help the authorities combat the COVID-19 pandemic as the government braced for the ‘worst-case scenario” in wake of the increasing number of positive cases in the country, which reached 1,321 in the evening. In a special briefing to journalists, PM Imran called upon volunteers to join the task force for which registration will begin on March 31. “If we want to lock down the country, we don’t have the infrastructure to get food to people’s homes,” he said alluding the lockdown by the Chinese government that had delivered food at homes during the curfew. “So I am announcing today, we are developing a special youth force. Preparations for this are in full swing. we will have a membership drive with the citizen’s portal,” said PM Imran. “the corona relief tigers will be sent all over Pakistan. we will map out where there is a spike in cases and these tigers will be sent to those areas to deliver essential supplies.” Speaking about the pandemic, he said it dramatically spread across the globe, with the united States emerging as the new epicentre. he said given the rise in cases across the world, the government was making preparation to be ready for any calamity. “no one can say today what the situation will be two weeks down the line,” he added.
QUETTA: People offer congregational prayers at a mosque in Quetta on Friday despite the federal government’s direction to avoid large gatherings in wake of the rapid spread of the coronavirus in the country. PPI
‘Food ShoRtAGe’: the PM said there was no food shortage in the country and that if people were having trouble finding the basic necessities, like wheat and sugar, it was due to the logistics complication stemming from the lockdown. Imran said that the government had decided to lift the ban on goods transport across the country in order to maintain a supply of daily use commodities. federal Minister for food Security khusro bakhtiar then provided “an exact picture” of the situation. he said that tabulations for seven essential food items had been done to ascertain their stock across various districts. “where there is a shortage, the province will fulfill the demand. we have mapped out the country’s transport needs for this.” “Provinces are completing their targets and our aim is to not involve the private sector at this point.
“we have developed a mechanism with all the provinces today under which a certain quantity will be bought from Sindh by Sindh government, Pasco and the private sector,” explained bakhtiar. the wheat will be brought to Punjab and delivered to kP as per the quantity determined, he said. “the ratio of wheat to wheat flour has been increased by 20 per cent. So the same amount of wheat will now yield more and better quality wheat flour.”
CONTINUED ON PAGE 03
Sindh CM orders closure of grocery shops from 5pm
Pkr tO lOSe further grOunD In CASe Of nOn-InterVentIOn by SbP KARACHI ARIBA SHAHID
After suffering a massive loss in early trade on friday morning, the Pakistani rupee made a sharp recovery against the uS dollar in the interbank market, to close at rs166.5, following the State bank of Pakistan (SbP) alleged intervention. the analysts believe that the SbP intervened and injected dollars in the market to stabilise the Pkr that was being traded at rs170 against the uS dollar: its lowest since June 2019 in early trade. however, a source working in the money markets denied that there was an intervention by the central bank and linked the bouncing back of the
g
rupee to the inflow of dollars. Market analysts, on the other hand, believe that the rupee recovered due to both inflows and intervention. while the SbP has been following a floating exchange rate, it intervenes during disorderly market conditions. this means that the State bank can intervene when there is no news or event that triggers a sudden movement. naushad Chamdia, CeO at SCS trade said the depreciation was mainly due to mismatch between import payment pressure and exporters holding proceeds. “this depreciation will indirectly sway sentiments at the stock market. SbP regulations regarding relief on loan repayments, aging & cut
As coronavirus cases reached 1,321 across the country, Punjab on friday surpassed Sindh in the number of confirmed COVID-19 cases, recording 448 cases compared to 440 in Sindh. So far, at least nine people have died of coronavirus: in Punjab, four people have died from the virus— one in rawalpindi and three in lahore. by friday evening, Sindh and Punjab have detected 440 and 448 cases of coronavirus, respectively. balochistan and khyber Pakhtunkhwa have reported 133 and 180 cases so far, with gilgit-baltistan and Azad Jammu kashmir reporting 93 cases. In kP, Mardan has reported the highest number of cases at 79. Islamabad, that has already put few localities under a lockdown, has 27 cases so far. the district administration in Jhelum has sealed a village after a resident — who had recently travelled to the uk — died from Covid-19 two days ago, said police spokesperson Mohammad Adeel. All the residents of Mohrah Akkrah in Sohawa tehsil are being tested, he said. Despite the directives by the Sindh and balochistan government regarding a ban on congregational prayers, citizens flouted the orders and flocked mosques and other places of worship to offer their weekly prayers. According to a report, gatherings were seen at faizane-Medina — managed by a religious organisation Dawat-e-Islami, in hyderabad’s effendi town. A congregation was also reportedly held at a jamaat khana of the bohra community in burhani nagar in hyderabad. by the time the area’s SSP arrived, people had returned home. Police and rangers personnel were able to restrict congregations in other areas, however.
STORY ON PAGE 04
Rupee gains ground to close at Rs166 after ‘inflows, SBP intervention’ g
COVID-19: Punjab surpasses Sindh as tally crosses 1,300
AnAlyStS relAte bOunCIng bACk tO ‘InflOwS’, InterVentIOn by SbP
in interest rates would be reversed if the Pkr continues to depreciate. going forward, we expect the rupee to rebound since the SbP is intervening,” he added. Analysts expect that the currency is likely to be under pressure considering the outflow of dollars due to the liquidity concerns of foreign investors. Considering how gold, a safe haven, has not managed to save itself from this liquidity selling spree, the rupee is likely to lose unless an intervention takes place. Why Would the SBP InteRvene? the International Monetary fund (IMf) has allowed the SbP to intervene in the exchange rate during disorderly market conditions.
CONTINUED ON PAGE 03
CMYK
CONTINUED ON PAGE 03
more inside
IMF decides two-year debt service relief for poor states STORY ON BACK PAGE
britain PM tests positive for virus as global toll tops 25,000 STORY ON BACK PAGE
Coronavirus inflicts Rs30bn loss on Pakistan's economy STORY ON BACK PAGE
govt rules out increase in gas tariff STORY ON PAGE 03
Weekly inflation drops 1.25pc
STORY ON PAGE 09