Motor c ar impor ts witness sharp decline

The imports of motor cars, both Completely Built Up (CBU) as well as Semi-Knocked Down (SKD) or Completely Knocked Down (CKD) witnessed a sharp decline of 66 percent and 40 37 percent respectively during the first half of the current fiscal year compared to last year

According to Pakistan Bureau of Statistics, the imports of CKD/SKD were recorded at $722 524 million during July-December (2022-23) as compared to the imports of $1211 577 million during July-December (2021-22), showing a decline of 40 37 percent

Likewise Pakistan imported CBU motorcars worth $108 453 million during July-December as compared to

Ihc decides to form larger bench on plea against chairman cDa

ISLAMABAD

S ta f f R e p o R t

A single member bench of Islamabad High Court (IHC) on Monday sent the file to the Chief Justice for formation of a larger bench to hear the case against the appointment of one officer against two slots of chairman CDA and chief commissioner ICT at the same time Justice Miangul Hassan Aurangzeb heard the case filed by Riaz Hanif Rahi Advocate Additional Attorney General Munawar Dogal appeared before the court At the outset of hearing, the petitioner ’s lawyer prayed the court to form a larger bench for further hearing The court noted that the accused had repeatedly insisted for the larger bench and decided to send the matter to Chief Justice The court remarked that it was not a fun that a a person keep sitting in the office of the Chairman CDA then who would view the affairs of Chief Commissioner ’s office The further hearing of the case was then adjourned

lccI calls for withdrawal of hike in Pol prices

LAHORE

S ta f f R e p o R t the imports of $318 999 last year showing a decline of 66 percent Overall, transport group imports declined by 49 84 percent during the period under review The imports of the group were recorded at $ 1 163 005 million as compared to the imports of $2,318 457 million last year It is pertinent to mention here that overall merchandize imports into the country decreased by 22 97 percent during the period under review by going down from $ 40,563 million last year to $ 31,245 million during the current year

The exports were recorded at $14 258 million against the exports of $15,125 million last year, showing a decline of 5 73 percent Based on the figures, the trade deficit during the first six months of the current fiscal year witnessed a decline of 33 22 percent and was recorded at $ 16,987 million this year against the deficit of $ 25 438 million last year

Pakistan and Turkey launch joint counter-terrorism drill

KARACHI

S ta f f R e p o R t

The opening ceremony of the Pakistan-Turkey Joint Exercise, ATTATURK-XII 2023, took place today at Tarbella The national anthems of both nations were played at the beginning of the event

The exercise involves troops from the Turkish special forces and the Pakistan Special Services Group made to start branding initiative in railways and to use its locations and trains for commercial and publicity purposes

Railways Minister Khawaja Saad Rafique said on Monday that initially selected railway stations and some trains would be used to implement branding initiative

Addressing a branding conference at a local hotel he said that spaces would be offered for branding on few trains and at selected railway stations and gradually this initiative would be implemented in the whole system He said, “Branding initiative should be implemented in such a way that it may not affect the esthetic sense

In past, he said a lot of efforts had been

Khawaja Saad Rafique said that being a Pakistani all of us should make sincere efforts to steer the country out of existing challenges

He said that honest officers had been appointed on main posts in railways and there was no political interference within the department adding that even railways minister could not interfere in the policies of railways Branding initiative would help private companies to enhance their business and he requested the private companies to take it as a national cause and play their role in strengthening the railway

(SSG) The two-week exercise is aimed at improving counter-terrorism techniques, with a focus on compound clearance, cave clearance, sniper training, counter Improvised Explosive Device (IED) training and combat medical care

The joint exercise will strengthen military ties between the two countries and provide an opportunity to share the experience of the Pakistan Army in the fight against terrorism

He said: “If we look at other countries, railway play a significant role in strengthening economy of any country The Minister said that two decades were required to turnaround railways, adding that results could not be achieved through hollow slogans He said: “Despite financial challenges in the railways we will keep our spirit high to uplift the department ” Saad Rafique said that efforts were being made to start Main Line-1 project in a viable situation after cost cutting He said that railways wanted to move forward with the support of private sector and in light of professional opinion The Railways Minister said that there was a lot of potential in the country and efforts had to be made in right direction to achieve desired results Responding to a question he said that all parameters regarding safety of installations would be decided, adding that company involved in branding and department both had to play their role in this regard

Lahore Chamber of Commerce and Industry (LCCI) on Monday expressed concern over the hike in fuel prices and urged the government to withdraw this decision LCCI President Kashif Anwar, Senior Vice President Zafar Mehmood Chaudhry, Vice President Adnan Khalid Butt and Executive Committee, in a media statement here, observed that this would add to the already increased cost of doing business (CODB) They urged the government to take immediate measures to control the rising inflation and CODB They shared that statistics issued by World Bank which indicate that only two percent economic growth was anticipated in Pakistan for the current fiscal year They added that slower development would be due to damages and disruptions brought on by catastrophic floods, a tight monetary policy rising inflation and an unfavourable global environment The LCCI office-bearers claimed that actual GDP growth was anticipated to reach 3 2 percent in next fiscal year signaling a modest recovery and if not tackled professionally this low growth would lead to further inflation and unemployment LCCI President Kashif Anwar argued that exchange rate was 17 percent rupee was devaluating and now raise in POL prices would add to the miseries of trade and economy They added that due to the current flooding, poverty would probably go worse in the hardest-hit areas and without resolute relief and recovery initiatives to aid the poor, preliminary projections indicated that the national poverty rate might rise by 2 5 to 4 percentage points putting between 5 8 and 9 million people in poverty They said as Pakistan struggled with issues like a current account deficit, huge public debt and decreased demand from its traditional export markets during muted global growth