Govt commItted to elImINAte RIbA-bAsed fINANcIAl system: dAR

ISLAMABAD Staff RepoRt

fEDERALMinister for Finance and Revenue Senator Ishaq Dar chaired the First Steering Committee meeting on implementation of Federal Shariat Court (FSC)’s judgment on Riba here on Friday.

Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha, SAPM on Finance Tariq Bajwa, Governor State Bank of Pakistan (SBP), Secretary Finance, members of the Steering Committee and senior officers from Finance Division and SBP attended the meeting.

Inaugurating the First meeting of the Steering Committee, Finance Minister Senator Ishaq Dar appreciated Governor SBP for his sincere efforts in making a roadmap for implementation of Islamic financing and interest free system and hoped that the guidance of Governor SBP will lead the implementation of interest free system to its logical destination. He also expressed satisfaction on SBP and NBP for withdrawing appeals in the Supreme Court against the judgment of Federal Shariat Court and paving the way for its implementation.

Finance Minister Senator Mohammad Ishaq Dar further expressed commitment of the Government to promote Islamic finance and eliminate interest based system in Pakistan in true spirit and achieve its goal of transformation within the timeframe of five years. He expressed hope that the decisions of this meeting would be beneficial for the proliferation of Islamic financing system in the country.

He stressed all the stakeholders to work with commitment, sincerity and understanding to overcome all the hurdles in the way of implementation of interest free system and making the system feasible and stronger that all citizens would aspire for it, as already 21 per cent of banks enjoy Islamic banking system.

NAb-KP seeks assets details of Gandapur brothers, families

PESHAWAR Staff RepoRt

The National Accountability Bureau, in the wake of a complaint, on Friday sought information from Deputy Commissioner DI Khan the details of inherited, gifted, sold or purchased properties of PTI former MNA and federal minister Ali Amin Khan Gandapur, former KP Minister Faisal Amin Gandapur, Nazim DI Khan Umar Amin Khan Gandapur, their father, mother and other immediate family members. The letter wrote to the DC specially sought information on property in Hathala, Tehsil Kulachi and Command area of Gomal Zam Dam and West Route of CPEC near the park. The bureau has sought details of Amin Ullah Khan s/o Khan Bahadar Muhammad Asim Khan, Robina Khanum w/o Amin ullah, Umar Amin, Faisal Amin, Ali Amin, Haifa Amin d/o Amin ullah Khan, Manahil d/o Amin ullah Khan Mahnaz Ali d/o Ali Amin, Muhammad Aslam s/o Ali Amin, Ayesha Amin d/o Ali Amin and Aliya Amin d/o Ali Amin.

sHc grants 10-day protective bail to mQm leader Ghauri

KARACHI Staff RepoRt

The Sindh High Court (SHC) has granted 10-day protective bail to former federal minister for ports and shipping and MQM leader Babar Khan Ghauri. Ghauri will have to deposit Rs.0.2m as surety for his protective bail as ordered by the court. Sources learnt that Sindh High Court heard the petition filed by Babar Ghauri’s daughter Alishah. Counsel for Babar Ghauri said that the former federal minister will arrive in Pakistan on January 30. An antiterrorism court had issued unbailable arrest warrants for Ghauri. The high court also suspended arrest warrants for Ghauri. NAB has also summoned Babar Ghauri.

The Finance Minister urged to include professional experts on Islamic laws in the committees and also sought guidance of Ulema and Islamic intellectuals into launching of additional Islamic Sukuk bonds. He further extended full support to every effort towards implementation of FSC decision on Islamic finance system.

Earlier, Governor State Bank of Pakistan welcomed the participants of the meeting and briefed on the roadmap and areas of actions on implementation of the FSC’s judgment.

He further informed that five working groups have been formed to overcome the technical issues, getting recommendations and deciding on a way forward for full implementation of the Islamic financing.

Meanwhile, in another communique, Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar held a meeting with Chairman Senate Muhammad Sadiq Sanjrani, Acting Governor Baluchistan Mir Jan Mohammad Jamali and Balochistan Provincial Minister Zamrak Khan Achakzai in Islamabad.

The meeting discussed the current economic situation in the country and financial issues and execution of development projects especially in flood affected areas of Balochistan.The Finance Minister committed to extend full support of the federal government for the development and progress of Baluchistan province.

ECP announces by-polls to 33 NA seats vacated by PTI

Staff RepoRt

The Election Commission of Pakistan (ECP) on Friday announced to hold by-polls on 33 vacant National Assembly seats on March 16.

According to the ECP’s election schedule, candidates will be able to file their nomination papers between February 6-8. The names of the candidates will be published on February 9 and the returning officers (RO) will carry out the scrutiny of the nomination papers till February 13.

The last date to file appeals against the RO’s decision on the acceptance or rejection of nomination papers is February 16. The last date for the appellate tribunal to decide on the appeals is February 20. After this, the revised list of candidates will be published on February 21.

The last date to withdraw candidature and release of revised list of candidates is February 22, while the election symbols will be allotted on February 23 and the polls will be held on March 16.

The constituencies, where by-polls will be held on March 16 include: NA-04 Swat-III, NA-53 Islamabad-

II, NA-126 Lahore-IV, NA-247 Karachi South-II, NA17 Haripur-I, NA-54 Islamabad-III, NA-130 Lahore-VIII, NA-250 Karachi West-III, NA-18 SwabiI, NA-57 Rawalpindi-I, NA-155 Multan-I, NA-252 Karachi West-V, NA-25 Nowshera-I, NA-59 Rawalpindi-III, NA-156 Multan-III, NA-254 Karachi Central-II, NA-26 Nowshera-II, NA-60 Rawalpindi-IV, NA-191 Dera Ghazi Khan-III, NA-256 Karachi Central-IV, NA-32 Kohat, NA-62 Rawalpindi-VI, NA-241 Korangi Karachi-III, NA-265 Quetta-II, NA-38 D.I. Khan-I, NA-63 Rawalpindi-VII, NA242 Karachi East-I, NA-43 Khyber-I, NA-67 Jhelum-II, NA-243 Karachi East-II, NA-52 Islamabad-I, NA-97 Bhakkar-I and NA-244 Karachi East-III.

These seats fell vacant after the PTI MNAs had tendered their resignations en masse after the Imran Khan-led government was ousted via a no-confidence motion in April of last year.

A few days ago, their resignations were accepted by the National Assembly Speaker Raja Pervez Ashraf and consequently the ECP de-notified them. The resignations of 123 PTI MNAs have so far been accepted and all have been de-notified by the ECP.

Farrukh Habib gets interim bail in police attack case

LAHORE

Staff RepoRt

A local court in Lahore on Friday granted interim bail to Pakistan Tehreek-e-Insaf (PTI) leader Farrukh Habib in a case registered against him for allegedly attacking law enforcement personnel to get Fawad Chaudhry released.

The Ferozewala court granted interim bail to PTI leader till February 16.

A First Information Report (FIR) was registered late night at Ferozewala police station on the complaint of

Imran to vie for nine Karachi NA seats in by-polls

KARACHI

Staff RepoRt

Former prime minister and Pakistan Tehreek-e-Insaf (PTI) Imran Khan has decided to contest upcoming bypolls to nine constituencies National Assembly (NA) from Karachi. PTI Chairman Imran Khan will be PTI’s candidate from all nine Karachi constituencies in the by-elections announced by the Election Commission of Pakistan. The decision comes hours after the Election Commission of Pakistan (ECP) released schedule for by-elections to 33 National Assembly (NA) vacated by Pakistan Tehreek-e-Insaf MNAs. The ECP has decided to hold by-election to 33 NA seats on March 16, for which nomination papers can be received from February 6 to 8.

Pakistan condemns Israel’s attack in Palestine

federal police office Adeel Shaukat. The first information report (FIR) was lodged against Farrukh Habib for ‘interfering in official affairs’ and ‘tearing uniforms of policemen’. The PTI leader has been booked under sections 148, 149, 186, 225, 341, 353, and 395 of the Pakistan Penal Code.

In FIR is stated that the PTI leader and his associates ‘tried to interfere in official affairs and cause damage.’ “Habib and his associates tried to snatch government weapons, vehicle and wireless”, the FIR stated, adding that they also tried to free ‘arrested Fawad Chaudhry’.

ISLAMABAD: Pakistan strongly condemned Israel’s brutal attack on the city and camp of Jenin in the State of Palestine, killing several innocent Palestinians, including an elderly woman, and injuring at least 20 others. Pakistan denounces the spate of reprehensible, cold blooded and murderous attacks that have already killed thirty (30) Palestinians this month. According to the press release issued by Foreign Office (FO) Pakistan called upon the international community to assume its responsibility in bringing these illegal incursions and actions by the Israeli occupation forces to a halt and ensuring adequate protection of the human rights of the Palestinian people. Staff RepoRt

PTI’s failure to secure ML-I project with China led to double project cost: Ishaq Dar

Islamabad

MIAn ABRAR

Federal Minister for Finance and Revenue, Senator Ishaq Dar Friday blamed the outgoing Pakistan Tehreek-i-Insaf (PTI) government for failing to secure the Main Line-1 (ML-1) project with China due to which he claimed that the project cost had almost doubled.

Addressing the inaugural ceremony of Green Line Train Project here, the minister said the cost of ML-1 was project at $6 billion under $46 billion China Pakistan Eco- nomic Corridor (CPEC) project, however due to failure by the previous regime for not executing on time; it may cost now $11 billion to $12 billion.

“This is legacy of previous government which this government inherited. They [previous government] should have actually implemented that but they could not,” the minister said.

The minister congratulated Federal Minister for Railways, Khawaja Saad Rafiq for reviving the impressive Green Line Railway service.

The minister also highlighted the impor- tance of commercialization of railway track, which he said would not only help Railways to stand on its own feet but would make it profit-earning organization to contribute in the national economy.

He also underlined the importance for utilizing Railways for freight transport which he said could minimizing the transport cost to a great extent. The minister said that Pakistan had become 24th largest economy in 2016 however owing to PTI inabilities it stood at 47th number last year. He highlighted the importance of investigating the reasons behind this downfall.

He said, Pakistan Muslim League (N) government had turned around economy at a time when it was predicted to default within a period of 6 months back in 2013.

He said, during the past PML(N) tenure, food inflation was just 2 percent; general inflation 4.6 percent whereas GDP was recorded at 6.8 percent with highest foreign reserves adding the Pakistan Stock Exchange was best in South Asia and 5th best performing in the world. He said, at that time all world organization were looking towards Pakistan, which was predicted to be second choicest investment destination. He however deplored that the Pakistan Tehreek-i-Insaf ruined all this progress.

The minister said, Prime Minister, Shehbaz Sharif has been meeting many challenges and expressed the hope that he would pull the country out of quagmire.

Meanwhile, speaking on the occasion, Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that railways act as a backbone for the economy, and its development was directly linked with the economic development.