C H i n a ’ s e C o n o m y s ta n d s o u t i n g Lo b a L a r e n a

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iN its three-year-long fight against COVID-19, China posted outstanding results in economic development and epidemic control reinforcing its status as a leading engine for the global economy

From 2020 to 2022, China’s economy posted an annual average growth of 4 5 percent, outpacing the world average of around 2 percent, according to Yuan Da, director of the Department of National Economy of the National Development and Reform Commission In 2022, the economy grew 3 percent year on year to a record high of 121 trillion yuan (about 18 trillion US dollars), with the increment standing at 6 1 trillion yuan equivalent to the economic aggregate of a medium-sized country

It also marks a new and higher level in terms of economic aggregate after the Chinese economy topped the thresholds of 100 trillion yuan and 110 trillion yuan in 2020 and 2021, respectively maintaining its position well as the world’s second-largest economy Analysts attributed the hard-won results to the country’s effective coordination in fighting COVID-19 and its economic fallouts simultaneously

Thanks to effective virus control and timely pro-growth policies, China’s economy has quickly emerged from the epidemic-induced slump and consolidated its recovery momentum for a brighter outlook c u r b I n g t h e v I r u s : To cope with the constantly evolving epidemic situation

China has been dynamically optimising its control measures while enhancing the treatment and vaccination capacity effectively safeguarding the lives and health of its 1 4 billion population at minimum costs As of Jan 13 92 9 percent of the Chinese population has been fully vaccinated, with more than 90 percent of people above 60 covered

Polls must be held within 90 days of assembly dissolution: LHC

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The electoral watchdog proposed April 9 to 13 for the elections of the Punjab Assembly and April 15 to 17 for the K-P Assembly and asked the respective governors to select a date within the given timeline The letter stated that the governor should finalise the date between April 15 and 17 in K-P and inform the authorities Similarly, the Election Commission is bound to conduct elections in Punjab before April 13 The letter further said that it was the responsibility of the ECP to hold general elections within 90 days after the dissolution of the assemblies and Article 224 of the Constitution mandated that “in case national assembly or provincial assembly is dissolved, a general election to the Assembly shall be held within ninety days of the dissolution of the Assembly”

LHC moved against rise in petrol prices

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The increase in the petroleum products prices has been challenged in the Lahore High Court (LHC) A miscellaneous petition was filed by the Judicial Activism Panel against the rise in the prices of the petroleum products Sources learnt that the petition stated that instead of reducing the prices of the petroleum products in the country they were increased by Rs35 The prices of the petroleum products have not been reduced in accordance with the global market,” it added It is to be noted here that the prices of petrol and diesel had been increased by Rs35 each per litre by the government on Sunday last

How to disrupt the smoking culture

Nearly 24 million Pakistanis are estimated to be cigarette smokers, with more people taking up the habit every day Health experts around the world are increasingly advocating for new technologies and innovations based on scientific research in their efforts to curb cigarette smoking One successful example can be observed in Japan - the world s ninth largest cigarette market - which has significantly reduced local smoking rates by introducing less harmful heated tobacco alternatives

Since heated tobacco products (HTP) were introduced to the Japanese public in 2015, researchers witnessed a fivefold decrease in cigarette sales along with an increase in HTP sales Japan saw the most rapid decline in cigarette sales, compared to any other major cigarette market in the world since HTPs in a remarkably short time Just like Japan if cigarette smokers in Pakistan were provided less harmful and non-combustible alternatives, smokers could have the option of a better future Now is the time to embrace change and give innovation a chance to make life better by vaccination With Omicron much less pathogenic and deadly, China, in December last year, announced ten new measures to lift numerous COVID-19 restrictions On Jan 8, its management of COVID-19 was officially downgraded from Class A to Class B Less than one month after the optimization of COVID-19 response measures in December 2022, China reported declining numbers of fever patients and critical COVID-19 cases as both had passed the peak economIc resIlIence: In the justconcluded Spring Festival holiday, China s consumption made a strong comeback During the week-long holiday, sales revenue of China s consumption-related sectors rose 12 2 percent from the same holiday period in 2022 Its cinemas sold 129 million tickets, generating a whopping revenue of 6 76 billion yuan, the second highest-grossing to date Wen Bin, the chief economist with China Minsheng Bank, said that warming demand at home would propel the turnaround in the Chinese economy this year and estimated the country’s full-year GDP growth at around 5 5 percent Aside from the overall economic growth China also made significant headway in maintaining consumer price stability, guaranteeing food and energy security, and improving people’s livelihoods In 2022 China’s CPI grew by 2 percent, a fraction of the increases reported in the United States, the eurozone and Britain It is also lower than those of other emerging economies

Amid a global food crisis, the country has secured a bumper harvest for the 19th year in a row, with its grain output at about 686 53 billion kg in 2022, up 0 5 percent from 2021

A total of 11 86 million 12 69 million and 12 06 million new urban jobs were created in 2020, 2021, and 2022, respectively, all surpassing the targets set for each year Despite the gloomy global investment environment, China remains one of the most attractive in- vestment destinations in the world

Foreign direct investment (FDI) in the Chinese mainland, in actual use, expanded 6 3 percent year on year to 1 23 trillion yuan in 2022 China has now become a major trading partner for more than 140 countries and regions, with its total trade of goods up 7 7 percent year on year in 2022 topping the world for six consecutive years brIghter outlooK: Recently, multiple international investment banks and financial institutions, including Morgan Stanley, Goldman Sachs, HSBC, Barclays, and Natixis, have upwardly revised their forecast for China’s economic growth rate in 2023, betting on the country s rosy prospects and strong resilience China has remained a glimmer of hope despite the bleak outlook of the global economy grappling with recession fears and persistent economic weakness A recent flagship report by the United Nations painted a gloomy picture of the global economy

Suicide bombing at Peshawar mosque leaves 59 mar t yred, 170 wounded

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Inspector General of Police Khyber Pakhtunkhwa Muazzam Jah Ansari presented the initial investigation report about the attack The PM was also shown the CCTV footage of the suicide attack on the Police Lines mosque The participants of the meeting offered Fateha for the martyred, sympathized with the bereaved families and prayed for the early recovery of the injured

On the occasion, the prime minister said the terrorists were attacking the security institutions, which were defending Pakistan They were making a nefarious attempt to create an atmosphere of fear and terror, and their designs would be foiled by the institutions and the people unitedly he added Pakistan had rendered great sacrifices against terrorism, and the sacrifices of the martyrs would not go waste, the prime minister said Shehbaz Sharif said the capacity of the anti-terrorism institutions and police would be enhanced and the National Action Plan would be implemented comprehensively and with full force

Meanwhile, the prime minister visited the Lady Reading Hospital to inquire after the persons injured in the blast The prime minister took rounds of different wards and met the injured He directed the hospital administration to provide the best medical facilities to the injured

Speaking during his visit he said those who shed the blood of the worshippers could not be Muslims The criminals behind the terror attack would not be absolved by Allah Almighty he remarked and vowed to root out the terrorists He said the attacks on innocent citizens during prayers in mosques and in the name of Islam were the worst acts The people of Pakistan had identified the real faces of the extremist elements who had a baseless ideology and were misinterpreting the religion, he added

Earlier on his arrival at the hospital the prime minister was received by caretaker Khyber Pakhtunkhwa Chief Minister Azam Khan, Adviser to the PM on Political Affairs Engr Amir Muqam and IGP Muazzam Jah Ansari

I m r a n K h a n f o r I m p r o v I n g I n t e l l Ig e n c e g at h e r I n g , e q u I p p I n g p o l I c e to c o m b at t e r r o r I s m: Pakistan Tehreek-iInsaf (PTI) Chairman and senior party leadership strongly condemned the terrorist suicide attack in police lines mosque Peshawar and expressed sympathies with the family of he martyrs

The former premier said that it is “imperative” that the country improves its intelligence gathering and properly equip police forces to combat” the growing threat of terrorism He also expressed condolences with the families of those killed and injured p t I c a n c e l s p r o t e s t: The Pakistan Tehreeke-Insaf canceled its protest against inflation which was scheduled to take place in Peshawar outside the Governor House Former minister Sher Ali urged party workers to not come to the protest

The party also condemned the attack, calling it “most unfortunate” PTI leader Shaukat Yousafzai expressed his grief at the loss of precious lives, adding that security agencies made great sacrifices to restore law and order A spokesperson for the PTI instructed party workers to donate blood to the injured and urged the caretaker government in the K-P to take effective measures for the treatment of the injured

Former President Asif Ali Zardari condemning a suicide attack in Khyber Pakhtunkhwa, said that terrorists being active in KP was extremely dangerous

He advised the government to take action against nurseries of terrorists as per National Action Plan (NAP) Asif Zardari said that terrorist incidents before by-polls and general elections were cause of concern

He urged the federal and interim provincial governments for bringing terrorist planners and facilitators to book

Jamiat Ulema-e-Islam Fazl (JUI-F) chief Maulana Fazlur Rehman strongly condemned the attack and said that attacking a sacred place during worship was the “height of brutality” He maintained that the nation should fight conspiratorial elements with mutual unity and agreement Fazl also prayed for the forgiveness of the martyrs and for the recovery of the injured Jamaat-e-Islami (JI) Amir Sirajul Haq also condemned the brutal attack, saying terrorism in Peshawar is highly condemnable

“Innocent blood is being shed in the country, mosques are being targeted, but government is nowhere to be found In the power grab people have been left at the mercy of terrorists Protection of life and property, let alone any relief, what purpose does such a government have? he tweeted Senate Chairman Sadiq Sanjrani has strongly con- demned the attack on Police Lines mosque in Peshawar He prayed for the elevation of the ranks of martyrs and the speedy recovery of the injured

The Senate chairman said the terrorists would never succeed in their nefarious designs as the determination of the government, security agencies, people and parliament against terrorism was unwavering

Such barbaric terrorist attacks cannot shake our resolve for a peaceful Pakistan, Sanjrani said adding terrorists were trying to sabotage the development process in Pakistan through these terrorist activities, but the Pakistani Nation was determined to root out this scourge of terrorism

Meanwhile Senate Deputy Chairman Mirza Muhammad Afridi, Leader of the House in Senate Ishaq Dar and Leader of the Opposition in Senate Dr Shahzad Waseem also strongly condemned the blast and said the terrorists would not succeed in their evil objectives They said the entire nation was united against terrorism c o m m I s s I o n e r u r g e s c I t I z e n s o f og r o u p t o d o n at e b l o o d f o r b l a s t v I c t I m s : The city Commissioner Riaz Khan

Mehsud urged the citizens of O- group to donate blood for the treatment of blood victims

Talking to reporters, here, he said O- blood was required for critically injured victims following the appeal made by the Lady Reading Hospital’s spokesman

He said at least 28 people, including policemen, were martyred and 150 wounded in the powerful explosion that ripped through inside the mosque of Malik Saad Shaheed police lines in red zone

Meanwhile Capital City Police Officer Peshawar Ejaz Khan, while talking to the media, said that it was too early to comment anything that how many policemen were still trapped under the mosque’s rubble He said the focus was currently being made on the rescue operation We cannot say with surety about the nature of the blast at the moment but there is a smell of explosives inside the mosque,” he feared, also not dismissing the possibility of a suicide attack

The CCPO said usually 300 to 400 people including officials of the headquarters of Peshawar Police, Counter Terrorism Department, Frontier Reserve Police Elite Force and Telecommunication Departments offer Zuhr prayer in the mosque

Business community annoyed over unexpec ted rise in POL prices

LAHORE

The Businessmen Panel (BMP) of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) while strongly rejecting the unexpected and huge raise in the rates of oil products in the country has stated that the government has dropped a fuel bomb on the trade and industry by raising Rs35/liter oil rates in one go followed by the electric hike shock of Rs4 46/unit under quarterly adjustment by NEPRA one week ago

Former president FPCCI and Chair- man BMP, Mian Anjum Nisar on Monday said that the National Electric Power Regulatory Authority (NEPRA) had approved increase in tariff up to Rs4 46 per unit on account of quarterly adjustment for the first quarter of financial year 2022-23 The tariff hike will place a burden of Rs4 938 billion on trade and industry on account of variation in capacity charges, variable operation and maintenance cost, and the impact of fuel cost adjustment on transmission and distribution losses for the first quarter (JulSept) of FY23

The FPCCI former president said that the decision would prove detrimental to the industries due to high cost of doing business and will also open the floodgates of inflation

In addition to making the electricity bills costlier and unaffordable for the consumers, the unexpected hike in oil prices would escalate prices of all household goods being widely used across Pakistan, he added He said that the burden of the surge in oil price in the international market is immediately transferred to masses by the government but the process of reduction in the prices is always very slow He said that despite an inevitable increase in the prices that will unleash a strong wave of inflation, the government remains short of clinching a deal with the International Monetary Fund On the other hand the NEPRA has increased the electricity rates mainly on account of fuel prices, capacity cost payments and the impact of rupee devaluation against the US dollar Mian Anjum Nisar condemned the National Electric Power Regulatory Authority’s decision to increase electricity tariffs stating that the burden of power theft, mismanagement, and inefficiencies cannot be shifted to consumers on the pretext of fuel adjustment