Epaper – July 28 KHI 2021

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Wednesday, 28 July, 2021 I 17 Zil-Hajj, 1442 I Rs 15.00 I Vol XII No 27 I 12 Pages I Karachi Edition

PM stresses uPon strengthening of econoMic diMension of Pak-saudi ties g

Pakistan, saudi arabia to work on easing travel restrictions

ISLAMABAD APP

P

rime minister imran khan tuesday while reaffirming the deep-rooted and historic bonds between Pakistan and saudi arabia, particularly emphasized upon the need of strengthening the economic dimension of these ties by taking steps to realize the vast possibilities in trade, investment and energy. the prime minister was talking to kingdom of saudi arabia Foreign minister Prince Faisal bin Farhan al saud who called on him. the covid situation in the two countries and in the south asia was also discussed. on the situation in afghanistan, the prime minister underscored the need for constructive engagement among the afghan parties for securing a negotiated political settlement, which was critically important for peace and stability in the region. Prime minister imran khan appreciated the work related to activation

of the saudi-Pakistan supreme coordination council (sPscc), which was the highest-level platform designed to impart strategic direction to the development of Pakistan-saudi arabia relations. He also lauded the important role of Pakistan’s community in saudi arabia in progress and development of the two countries. He underlined that the strong people-to-people linkages helped building solid foundations of bilateral cooperation. noting the difficulties being faced by Pakistani nationals due to covid-related travel restrictions, the prime minister underlined the importance of timely measures for facilitation of their return to saudi arabia. He thanked for the administration of covid-19 vaccines to Pakistanis living in the kingdom. the prime minister conveyed cordial greetings for the custodian of the two Holy mosques king salman bin abdulaziz al saud and crown Prince mohammed bin salman and fondly recalled his visit to saudi arabia in may.

coronavirus in

Pakistan

CONFIRMED CASES:

1,011,708

LAST UPDATED AT 7:29 AM ON JULY 27, 2021

DAY'S DEATH TOLL:

NEW CASES:

39

3,262

RECOVERED:

DEATHS:

928,722 23,087 SINDH:

PUNJAB:

369,245

353,695

KPK:

BALOCHISTAN:

142,139 AJK/GB: 23,203 / 7,798

29,681 ISLAMABAD:

85,947

in line with the decisions taken on the occasion, the prime minister highlighted the assiduous follow-up and stressed the need for exploring new avenues of cooperation to further deepen bilateral relations in diverse fields. thanking the prime minister for the warm welcome accorded to the saudi delegation, Prince Faisal underscored the importance that saudi arabia attached to its strong relationship with Pakistan, based on bonds of brotherhood. He reaffirmed the resolve to taking all possible measures to further strengthen the bilateral relationship under the strategic direction set by the crown prince and the prime minister. Pakistan and saudi arabia enjoy close fraternal elations, marked by close cooperation and mutual support. saudi arabia is a member of organisation of islamic cooperation (oic) contact group on Jammu & kashmir and steadfastly supports the kashmir cause. earlier, in a joint presser at the ministry of Foreign affairs, Foreign minister shah mahmood Qureshi and his saudi counterpart Prince Faisal vowed to continue lending support to each other on issues of regional and international importance. Prince Faisal, who arrived in islamabad tuesday, earlier led the delegation-level talks with Qureshi that encompassed a wide range of matters. He said: “we hope to build on the momentum of strong bonds based on our brotherhood, as the two countries have always stood by each other in difficult times.” He termed the talks as “very, very fruitful discussions” held on bilateral matters with all areas of the broader spectrum coming under discussion, with a special focus on economic ties. the saudi foreign minister said riyadh would encourage businessmen from both sides to explore opportunities for investment in areas of technology.

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Pakistan rejects ‘misleading’ US commentary on judiciary ISLAMABAD StAff RePoRt

Pakistan on tuesday rejected as “factually incorrect” and “misleading” a report of the state department of the united states raising concerns on the judicial independence and purportedly improper influence from the other branches of government on its working. the report, titled “2021 investment climate statements“, while evaluating the domestic investment climate, claimed the “judiciary is influenced by the government and other stakeholders”. “the lower judiciary is influenced by the executive branch and seen as lacking competence and fairness. it currently faces a significant backlog of unresolved cases,” it claimed. “theoretically, Pakistan’s judicial system operates independently of the executive branch. However, the reality is different, as the military wields significant influence over the judicial branch. as a result, there are doubts concerning the competence, fairness, and reliability of Pakistan’s judicial system. However, fear of contempt of court proceedings inhibit businesses and the public generally from reporting on perceived weaknesses of the judicial process.” responding to media queries concerning the report, the Foreign office said: “we take strong exception to the gratuitous and unwarranted comments made in the report on Pakistan’s judicial system.” “the judiciary in Pakistan is independent and the courts are functioning in accordance with the constitution and laws of the country. the allegations to the contrary are firmly denied as factually incorrect and misleading,”

SBP keeps interest rate unchanged at 7pc for fifth consecutive time NewS DeSk the state bank of Pakistan on tuesday kept the monetary policy rate unchanged for the fifth consecutive time at 7 percent for the next two months. sharing the decision taken by the monetary Policy committee (mPc) at a press conference, sbP governor dr reza baqir said the benchmark interest rate is being kept unchanged to support the economy during the covid-19 pandemic. He said that consumer and business confidence have risen to multi-year highs and inflation expectations have fallen due the consistent policy rate and measures taken by the central bank. “as a result of these positive developments, growth is projected to rise from 3.9 percent in FY21 to 4-5 percent this year, and average inflation to moderate to 7-9 percent this year from its recent higher outturns,” he said. the mPc noted that the pandemic is not over and the country is going through the fourth wave of the coronavirus in view of which it wants to “give a feeling of stability to the nation” and show that the sbP’s

its spokesperson Zahid Hafeez chaudhri said. “as a vibrant democracy, the government of Pakistan firmly believes in the separation of powers between the executive, legislative and Judicial branches of the state,” he said. the spokesperson said there was no question of any coercion or pressure on the judiciary. “the baseless assertions made in the report are contradicted by innumerable decisions by Pakistani courts at all levels that meet the highest standards of judicial independence,” he said. chaudhri observed while the report acknowledged the progress made and reforms undertaken by the government in improving the business and investment climate despite extremely difficult circumstances due to the coronavirus crisis, it “speculated on alleged shortcomings in Pakistan’s regulatory framework and based its conclusions on unverifiable sources”. He said mutually beneficial cooperation in the sectors of the economy, trade and investment with the international community, including the us, was one of the key priorities of the government. we will continue to take steps to optimally realise our geo-economic potential, he added.

MORE INSIDE

Fleeing Afghanistan troops ‘amicably returned’ to Kabul: ISPR STORY ON BACK PAGE

“supportive monetary policy” would be maintained, baqir added. “the mPc said that if there was a need to change the monetary policy, the change would come in a gradual way. if a change is made, it would not be in a way similar to how we had to bring the change in 2019 because back then the conditions of our economy were very different [and] we had a very large external deficit.” moving on to the current account deficit (cad) which increased in may and June, the sbP governor said seasonal factors were behind the rise. “we see a lot of [import-related] payments in June since the budget is expiring. besides this, there were some new imports — for

example, vaccines imported to [fight] covid — the impact of which was not present last year. Food import payments have been high in the last fiscal year. the government imported flour and wheat to reduce the prices of [the products] in our country,” he explained. For a country like Pakistan, which is considered to be an emerging market, a “moderate amount of current account deficit is appropriate”, especially if the country wanted to keep the economic growth rate between three and four per cent, baqir said, adding the sbP believed a current account deficit that was 2-3pc of the gdP was “sustainable”.

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centre commits to support sindh as coronavirus situation worsens STORY ON PAGE 03

Cabinet approves National Cyber Security Policy 2021 STORY ON PAGE 02

Parents of suspect challenge detention in noor murder STORY ON PAGE 02


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