Epaper – June 28-2022 LHR

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Tuesday, 28 June, 2022 I 28 Dhul-Qadah, 1443 I Rs 15.00 I Vol XII No 359 I 12 Pages I Lahore Edition

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ExPERTS WARN PAKISTANI POLICyMAKERS IN 'UNILATERAL RUSH' FOR OPENING TRADE WITH INDIA AGAINST POSSIBLE CONSEqUENCES

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ITHOUT naming India, the Foreign Office spokesperson Asim Iftikhar on Monday said ‘a member country of BRICS’ was behind blocking an invitation to Pakistan to attend the ‘High level Dialogue on Global Development’ held virtually on the sidelines of the BRICS meetings last week. The Indian move is being viewed as a major shock for the Pakistan Democratic Movement (PDM) government who has been tr ying hard to warm up ties with New Delhi since overtaking the reins from outgoing Prime Minister Imran Khan. The newly appointed Foreign Minister Bilawal Bhutto-Zardari has recently said that he would like to open talks and trade with Indian people despite Kashmir dispute.

Well placed sources in the government have told Pakistan Today that while the leaders of two dozen nonmember countries of the BRICS format attended the meeting virtually on June 24, many eyebrows were raised at the absence of Pakistan from the meeting who is a strategic partner of China and the host to the flagship project of the Belt and Road Initiative (BRI) – the multibillion-dollar China Pakistan Economic Corridor (CPEC). “Pakistan congratulates China on the successful hosting of the BRICS meetings,” FO Spokesperson Asim Iftikhar said, adding that China, being the host country, engaged with Pakistan prior to the BRICS meetings, where decisions are taken after consultations with all BRICS members, including extending an invitation to non-members. “Regrettably, one member blocked Pakistan’s participation,” the spokesperson added. “However, we do hope that future engagement of the organisation

would be based on the principles of inclusivity keeping in view the overall interests of the developing world and in a manner that is devoid of narrow geopolitical considerations,” Iftikhar said. The spokesperson said Islamabad appreciated Beijing’s role in promoting the interests of the developing countries. Together with China, Pakistan had been a strong voice for global peace, shared prosperity and inclusive development. “Pakistan is the current chair of G77+China and also part of a group of friends of the Global Development Initiative (GDI). Pakistan and China are all-weather strategic partners and our iron brotherhood remains rock solid. The two countries are fully committed to take our all-round cooperation to higher levels both bilaterally and multilaterally. Pakistan stands ready to with all developing countries, including the BRICS members for addressing the challenges faced by the global community,” said the FO spokesperson. China has been lobbying to expand BRIC – floating the idea of BRICS Plus – asking to include developing countries to the group. However, India has been resisting the move. Senator Mushahid Hussain Sayed, an eminent expert on foreign policy, told Pakistan Today that India, by blocking Pakistan’s participation in an otherwise harmless meeting on Economic Development, has revealed its true colours about Pakistan. “India, by blocking Pakistan’s participation in an otherwise harmless meeting on Economic Development, has revealed its true colours about Pakistan that its actual intent and policy is to isolate, malign, damage and destabilise Pakistan at all regional and global fora whether it’s FATF, UN, G20, SAARC, Disinfo Lab in Brussels or BRICS,” said the Senator.

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Pakistan survives bankruptcy; prosperity next target: PM iSLAmABAd Staff RepoRt

Prime Minister Shehbaz Sharif Monday said that having steered Pakistan out of the verge of bankruptcy, the coalition government was now striving to bring prosperity through dedicated efforts and by exploiting all of its energies. “The previous government had pushed Pakistan to the verge of bankruptcy. Alhamdulillah, it has survived now thanks to Allah Almighty’s blessings and consultation of the coalition partners,” the prime minister said addressing a reception hosted by him for the parliamentarians of the ruling coalition. He told the gathering that the agreement with the International Monetary Fund (IMF) was about to reach containing “very tough” conditionalities. He said despite its tall claims of building a Naya Pakistan, the previous government could not tax the affluent class. However, the incumbent government put that class under direct tax to make them share burden of the poor people. Calling it a revolutionary step, he said imposing a direct tax on the rich class would bring in Rs200 billion to the

NEPRA scrutinizes Rs7.90 per unit hike for DISCO’s consumers AhmAd AhmAdAni Already burdened masses should get ready to bear a jolt in the form of colossal power price hike as the National Electric Power Regulatory Authority (NEPRA) has worked out Rs7.90 per unit increase in electricity price. As per details, NEPRA on Monday conducted a hearing to consider the request of the Central Power Purchasing Agency (CPPA) regarding fuel charges adjustment (FCA) for the month of May 2022. And hinted to approve Rs7.90 per unit hike under FCA of May 2022. However, NEPRA in a statement made it loud and clear that the authority (NEPRA) will issue its detailed judgement on the FCA of May for DISCOs after scrutiny of necessary data and this expected hike if NEPRA grants approval in this regard will not be applicable on lifeline consumers and the consumers of K-Electric. According to sources, if NEPRA approves the proposed hike then power consumers of all power distribution companies (DISCOs) except K-Electric (KE) will bear more than Rs112 billion in next month’s electricity bills.

As per the definition of lifeline consumers by National Electric Power Regulatory Authority (NEPRA), lifeline consumer means those residential consumers having single phase electric connection with a sanctioned load up to 1 kilowatt (KW) and the lifeline consumers to include residential Non-Time of Use (Non-ToU) consumers having maximum of last twelve months and current month’s consumption is equal or lesser than 100 units. NEPRA’s hearing was held under the chairman NEPRA Tauseef H. Farooqi wherein NEPRA members Engi-

neer Rafique Ahmed Shaikh and Engineer Maqsood Anwar Khan were in attendance. Speaking on the occasion, NEPRA officials said that oil prices have gone up in the international oil market and if expansive fuels were used for power generation purposes then electricity prices witnessed more increase. Present on the occasion, the CPPA officials said that fuel price has increased substantially in the global oil market as coal price had increased significantly which were very available at very low price in the

market before the Russia-Ukraine war. According to CPPA officials, Cargoes of Liquefied Natural Gas (LNG) were available at $42 per Million British Thermal Unit (MMBTU) for delivery by the end of July. However, it was not possible to purchase expansive LNG as it was unaffordable while keeping in view the prevailing situation of the country. Even a cargo of long-term agreement is cancelled due to skyrocketing prices of LNG in the global market. NEPRA chairman said that if electricity is produced then it will be expensive and if it is not generated then there will be electricity load shedding in the country. He said that NEPRA was opposed when it asked to produce electricity from those power plants which can produce the electricity at Rs6-7 per unit. For the sake of God, avoid installation of power plants that run on imported fuels, said NEPRA chairman. Earlier, CPPA, on behalf of power distribution companies (DISCOs), has submitted an application with NEPRA and sought hike in power tariff by Rs7.96 per unit under FCA of May, 2022.

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national kitty. “This is quaid-e-Azam’s Pakistan who wanted to see it as a welfare state. This is a direct tax, not on sugar, iron or textile which could be passed on (to consumers). This is on the owners of the businesses and their income,” he explained. He said considering inflation, the government provided relief to the poor people through Benazir Income Support Program. He also hinted at launching a program to promote solar energy in the country. Similarly, he said the government also averted the crisis of edible oil by timely importing the commodity from Indonesia. He told the parliamentarians that despite a price hike in oil and gas, the government was striving to tackle the situation to meet country’s energy needs. He said in order to ensure low-cost power generation, the government would import high-quality coal from Afghanistan which would save $2 billion in foreign exchange. Through a series of meetings, the government had formulated a mechanism for transportation of coal from Afghanistan to the power plants through trucks and trains, he added.

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MORE INSIDE

Defence Minister condemns Canadian parliamentarian’s remarks against Pakistani military leadership STORY ON BACK PAGE

Pakistan sign suspension of $107mn loans with France STORY ON BACK PAGE

Pakistan gets $3.68bn debt relief from G-20 countries STORY ON PAGE 02

Bilawal inaugurates intra-district bus service STORY ON PAGE 03


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