PM convenes APc on Feb 7 to develoP unAniMous PlAn to Meet MultiFAceted chAllenges

g shehbaz invites imran to aPC as Goodwill Gesture g also seeks Pti’s nominees for Peshawar aPex Committee minister’s office for public recognition. the prime minister said in view of $27 billion energy import bill, Pakistan required alternative and inexpensive sources of energy including solar, wind, hydel and nuclear. he said Pakistan was blessed with enormous resources , had the potential of producing 60,000 mega watts through hydel power, and regretted that the power generation stood merely at 10,000 megawatt. he recalled that the project of kanuP was finalized during the tenure of then prime minister nawaz sharif and expressed gratitude to the Government of China for extending cooperation in this regard.

Red-Alert: Forex reserves drop to lowest in 8 years as dollar touches 271

g sbP’s liquid foreiGn reserves now stand at $3.09b

iSLAMABAD

Mian abrar the aPC having representation from across the political spectrum will be held on february 7 in islamabad as invitations have been extended to all the leading political leaders. the prime minister has also invited Pakistan tehreek-i-insaf (Pti) Chairman imran khan to attend the conference. federal minister sardar ayaz sadiq contacted Pti leaders asad qaiser and Pervez khattak, and conveyed the prime minister’s invitation. the Pm also invited two representatives of the Pti to the apex committee meeting to be held in Peshawar on friday and the invitation in that regard was also conveyed by ayaz sadiq. the minister requested the Pti leaders to inform about the two nominated representatives of the party for the apex committee meeting. all stakeholders including rangers and officers of the intelligence institutions will attend the committee’s meeting at the Governor house in Peshawar. the committee will discuss the incident of terrorism that occurred at the mosque of Police lines Peshawar on January 30, and consider steps to eradicate terrorism and upgrade the Counter-terrorism department and police. the project has been completed with the assistance from China. addressing on the occasion, the prime minister said k-3 was a step forward in cooperation with Pakistan’s trusted friend China. he congratulated the scientists and workers of Pakistan and China who strove for completion of the project. he said the staff of the Pakistan atomic energy Commission, who contributed to the project, would be invited to the Prime shehbaz sharif mentioned that the electricity projects under the China-Pakistan economic Corridor were greatly contributing to the country’s energy demands through the production of thousands of megawatts. director General international atomic energy agency (iaea) rafael mariano Grossi, in a video message, emphasized the importance of safe use of nuclear energy as Pakistan faced challenges of climate change. Chairman Pakistan atomic energy Commission raja ali raza anwar said national electric Power regulatory authority had declared kanuP as a high power producing facility with its 27.15 percent production. the prime minister, chairing a meeting to review the preparations for the observance of kashmir solidarity day on february 5, said the people of Pakistan would not sit idle till the just resolution of kashmir dispute. he instructed all the relevant departments to work in cohesion regarding the preparations for kashmir solidarity day.

Primeminister shehbaz sharif thursday announced to convened an all Parties Conference (aPC) for february 7 to evolve unanimous strategy to overcome the current national challenges.

PM inAuguRAtes 1,100 MW K-3 nucleAR PoWeR PlAnt in KARAchi: Prime minister shehbaz sharif on thursday inaugurated k-3, the third unit of karachi nuclear Power Plant (kanuP), which will produce 1,100 mega watt of electricity.

‘PAKistAn to KeeP extending unWAveRing suPPoRt to KAshMiRis’: Prime minister shehbaz sharif on thursday said that Pakistan would keep extending its unwavering support to the people of indian illegally occupied Jammu and kashmir who had been cornered through the indian illegal actions of august 2019.

g ruPee Closes at lowest ever aGainst GreenbaCk

profit report shahnawaz ali in the latest data, the state bank of Pakistan has revealed that the liquid foreign reserves of Pakistan have dropped by another 592 million over the last week to a dangerously low level of 3.09 billion. this is the lowest level of reserves that Pakistan has been at in more than the last 8 years. but more importantly, this is the lowest that Pakistan’s foreign reserves can get. in the last 20 years, Pakistan was at its lowest level of foreign reserves in november 2013, when the foreign reserves touched the dangerously low level of $3.05 billion. Just last week Pakistan’s foreign reserves dropped by $923 million to $3.67 billion. even though this might not be the lowest ever point in the history of Pakistan in terms of numbers. Pakistan faces a situation much more dire than 2013. despite having a poor economic outlook and foreign reserves Pakistan has to fulfill international debt obligations, greater than its limited reserves, to avoid default. experts suggest that after the recent devaluation of the rupee, Pakistan’s import cover is now less than 20 days. with the total imports in both december and January ranging close to $5 billion, Pakistan is in dire need of forex reserves now more than ever. the imf team is currently in talks with the ministry of finance for the fund’s 9th review of its extended fund facility. these talks have been stalled since september 2022. despite floating the exchange rate to its true market value as per imf’s prior conditions, Pakistan has not been able to realize forex inflow in the form of remittances and export proceeds. the low reserves also continue to put pressure on the Pakistani rupee which closed upwards of 271 on thursday. this is the lowest the rupee has ever been against the greenbacks.