The Destination Issue 38 Vol 1

WEATHER ISLAMABAD Isolated Thunderstorms

ISLAMABAD ISSUE: 38 VOL: 1

36°C 96°F

Precipitation: 30% Humidity: 58% Wind: 23 km/h Monday– June 19, 2017

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Ramadan 23 1468 AH.

PR to run five special trains on Eid Ul Fitr

Pakistan Railways has decided to run five special trains to facilitate passengers on the eve of Eid ul Fitr.

The decision was taken at a meeting chaired by Minister for Railways Khawaja Saad Rafique in Lahore.

The meeting decided that additional coaches will also be attached with regular trains to cope up with rush of the passengers. The Minister directed Railway Officers and Staff to work round the clock to make the Eid operations successful.

THE FUTURE IS GREEN-PAKISTAN BECOME ICC CHAMPION

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CPEC to generate more than 700,000 new jobs in Pakistan: Analysts

Pakistan to fully cooperate for peace, stability in Afghanistan Minister of States and Frontier Regions Abdul Qadir Baloch says Pakistan will extend its full cooperation for peace and stability in Afghanistan. In an interview, he asked all parliamentarians to support the government on this issue. The Minister urged all political parties to evolve a joint strategy on national security. Abdul Qadir Baloch said the valiant forces of Pakistan are fully capable to respond to any misadventure from India.

PIA announces 25pc reduction on domestic flights ahead of Eid-ul-Fitr

PIA has announced to reduce fare of domestic flights by 25 percent on the occasion of Eidul-Fitr. In a post on social networking website Twitter, PIA wrote, “Special Eid Discount!

25 percent off on all domestic flights!” Earlier, PMD had predicted that Eid-ul-Fitr will likely to take place on June 26.

Fakhar Zaman and Mohammad Amir shone as Pakistan defied the odds to overwhelm arch-rivals India by 180 runs and pull off a major upset in the Champions Trophy final at The Oval on Sunday.

Fakhar capitalised on a lucky escape to strike a superb 114 and lift Pakistan to a commanding total of 338 for four and fast bowler Amir ripped out India’s top three batsmen before the defending champions subsided to 158 all out.

Pakistan had come into the tournament as the lowest-ranked team and lost heavily to India in their opening group match but they beat South Africa and Sri Lanka to make the semi-finals where they knocked out hosts England.

“Fakhar is a great impact player, he played like a champion batsman today,” Pakistan captain Sarfraz Ahmed said at the presentation ceremony.

“Amir bowled brilliantly today but all my bowlers bowled really well. We have

a young team and the credit goes to my boys.”

After India had won the toss, Fakhar, on three, was caught by wicketkeeper Mahendra Singh Dhoni off a Jasprit Bumrah no-ball and the 27-year-old lefthander took full advantage to make his first international century.

He shared a fluent century opening partnership with Azhar Ali (59), the pair unleashing a barrage of crisp attacking strokes all around a sun-kissed ground.

Azhar also continued his fine form, reaching 50 off 61 balls before he was run out following a mix-up with his partner.

Fakhar lofted Ravindra Jadeja over longon for six and got to three figures by sweeping Ravichandran Ashwin to the boundary.

He celebrated with an extravagant twirl of his bat and kissed the turf as the Pakistan supporters sensed an unlikely win.

Fakhar hit 12 fours and three sixes before

skying a catch off Hardik Pandya but Pakistan had the perfect platform to make the highest total in a Champions Trophy final.

Three sixes Babar Azam chipped in with a solid 46 and Mohammad Hafeez struck three sixes in a punchy unbeaten 57 that left India needing to produce the highest successful run chase in the tournament’s history to lift the trophy for the third time.

Within three overs, however, their reply was in tatters as Amir produced a devastating spell of bowling.

He trapped Rohit Sharma lbw for nought with a swinging delivery and removed India talisman Virat Kohli with another fine ball which the captain could only edge to point for five.

Kohli, the world’s top-ranked one-day batsman, had been dropped off the previous delivery in the slips and the India fans looked shell-shocked as he trudged off.

ISLAMABAD—President, Pakistan Economy Watch (PEW) Dr. Murtaza Mughal has said that China Pakistan Economic Corridor (CPEC) is a fate changer for the people of Pakistan.

Talking to Radio Pakistan, he said, “The investment of $46 billion under CPEC has increased up to $56 billion now. Out of which, $35 billion will be invested on energy projects and remaining on infrastructure improvement.”

He said, “This would help

overcoming energy crisis in the country. CPEC project would generate more than 700,000 new jobs in Pakistan.”

“The exports of the country would also increase wihch would lead to prosperity.

Under CPEC, special economic and industrial zones would be established in provinces and under the control of centre in Pakistan,” he added.

E c o n o m ic e x p e r t D r.

Gulfaraz Ahmed also said, “ T he gove r n me nt h a d

been focusing on building new energy projects under CPEC.” He said, “The distribution of energy was another challenging issue for Pakistan.

It was required to improve the efficiency, decrease the losses and modernize the process of distribution of energy,” he said.

He said, “Asian Development Bank’s (ADB) loan for this pur pose would be ver y much useful adding it would improve the country’s distribution system of energy.”

Two Pakistani diplomats go missing in Afghanistan

Two Pakistani diplomats based in a consulate office in the eastern Afghan city of Jalalabad have been missing since Friday.

“Two officials of our Consulate General Jalalabad are missing since 16th June 2017 while commuting to Pakistan by road.

The matter has been raised with the relevant Afghan authorities for their safety and recovery, at the earliest,” the Foreign Office said in a statement on Sunday.

The Afghan authorities have informed that all efforts were in hand to probe the incident and three different investigating groups have been constituted to ensure safe recovery of the officials.

Pakistan has requested the Afghan Government that all efforts may be made to ensure early recovery of our officials and bring the perpetrators of this heinous crime to justice.

2 Monday - June 19, 2017

THE DESTINATION

NATIONAL / INTERNATIONAL PHOTO OF THE DAY

UN veteran is S. Korea’s first female foreign minister

Ratti Gali Lake is an alpine glacial lake which is located in Neelum Valley, Azad Jammu and Kashmir, Pakistan at an altitude of 12,130 feet (3,700 m).

Exclusive photo by The Destination team

Imran Khan should also come out of his abode, appear before courts: Marriyum ISLAMABAD —Minister of State for Information and Broadcasting Mar r iy u m Aurangzeb on Saturday said the way Prime Minister Nawaz Sharif has presented h i mself before the law and constitution, Pakistan Te h r e e k- e - I n s a f ( P T I ) Chairman Imran Khan should also come out of his abode in Nathia Gali and appear before the courts.

Ta l k i n g t o m e d i a i n Islamabad, she said, “The Prime Minister has presented himself and the entire

family for accountability.”

She reminded that, “The accountability process was started against Nawaz Sharif in Musharraf and Pakistan Peoples Party (PPP) regimes but nothing could be proved against him.”

She said, “The Prime Minister will come out victorious this time as well from this court as well as the court of public next year,” and added that, “The people of country have great love and affection for the Prime Minister.”

Grenfell Tower fire: Muslims host sunset meal on street for affected people

South Korean President Moon Jae-In on Sunday appointed a United Nations veteran as the country’s first female foreign minister, tasked with easing tensions over North Korea’s nuclear ambitions.

Kang Kyung-Hwa, 62, served as Deputy High Commissioner for Human Rights and Assistant Secretary-General for Humanitarian Affairs before becoming a senior policy adviser to UN chief Antonio Guterres this year.

Her appointment comes less than two weeks before Moon’s first trip to the US for a summit with President Donald Trump as fears grow over Pyongyang’s weapons program.

The isolated regime has staged a series of missile launches this year, defying global pressure and triggering tightened UN sanctions.

Kang served at the South’s foreign ministry for years before joining the UN.

Her diplomatic experience will help the South navigate tricky waters and tackle sensitive issues with its allies and neighbors, Moon’s office said earlier.

Moon, a center-left politician who took office after the ouster of impeached president Park Geun-Hye, has advocated dialogue with the North to bring it to the negotiating table in a break from his conservative predecessors who took a hardline stance against Pyongyang.

Ties with the US have also come under strain recently over a controversial deployment of a US anti-missile system in the South that soured relations with China, which sees it as a threat.

The South under Park agreed last year to install the Terminal High-Altitude Area Defense (THAAD) system to guard against threats from the North, prompting Beijing to deploy informal economic sanctions against South Korean businesses in April.

Though parts of the Terminal HighAltitude Area Defense (THAAD) system are already in place, Moon this month suspended further deployment, dealing a blow to Washington’s regional security policy.

Officially, the delay is to allow for a new, comprehensive environmental impact assessment, but analysts say the move is a strategic delay by Moon to dodge the tricky diplomatic situation he inherited.

Erdogan stresses need for holding dialogue to resolve Gulf crisis over Qatar Turkish President Recep Tayyip Erdogan has stressed the need for holding dialogue to resolve the Gulf crisis over Qatar. Talking to Qatari Emir Sheikh Tamim bin Hamad al-Thani and French President Emmanuel Macron on telephone, the Turkish President exchanged views on the Qatar crisis with a view to immediately ease tension in the region.

The leaders of the three countries emphasised that dialogue is the only way to resolve the current tension in Gulf.

PEMRA fines Nickelodeon Rs500, 000 for airing ‘indecent’ cartoon

The Pakistan Electronic Media Regulatory Authority

(PEMRA) has imposed a fine of Rs 500,000 on cartoon channel Nicklodean for airing what it deemed as indecent content.

According to a notice issued by the regulatory authority on June 15, it said, “PEMRA has imposed a fine of Rs 500,000 on Nickelodean for showing indecent content in its episode “The Emperor s Throne” of the cartoon series “Winx Club”. In this episode,

a cartoon character is shown indecently dressed.”

The Winx Club is an Italian animated television series airing since a decade ago. It is a popular cartoon series among children and features a group of girls that are fairies. The girls wear dresses that girls in Pakistani society would be frowned upon if they wore.

However, the indecent clothing in question that led to the

fine was the bathing suits of the characters that they were wearing on the beach.

According to PEMRA, a notice regarding the episode had been issued on April 28, 2017, and following a hearing regarding the airing of the content, a fine was imposed.

The regulatory authority also warned the channel to be vigilant while airing content of the cartoon series.

Saudi-Qatar crisis puts Syria rebels in tricky position

LONDON—Tablecloths were laid out along a street as the local Muslim community came together to host a meal for those affected by the Grenfell Tower tragedy.

Many people who live in the area surrounding the tower are Muslim and volunteers from the charity Penny Appeal decided to cater for those who are observing

Ramadan, although anyone was welcome to join in.

At sunset people broke their fast for the Iftar meal and were offered water, fizzy drinks, bread and fruit to sustain them as the aid effort continued around them.

It was another example of volunteers coming together to help those affected by the fire. Hundreds of people

have donated clothes and food, and fundraising initiatives have so far raised over £3m.

Zia Salik, head of fundraising at the charity Islamic Relief, told The Independent that his team and other volunteers worked day and night to help with the rescue effort. “There was a huge outpouring from the

community to say ‘we want to do something’,” he said. It later emerged that Muslims awake for Ramadan might have helped save lives after they noticed the horrific blaze had started and alerted other residents. A witness said: “Muslims played a big part in getting people out”.

Seven US Navy crew missing after collision off Japan

Seven crew members of a US Navy destroyer went missing and one injured after it collided with a Philippines-flagged merchant vessel off the coast of Japan. A US official said that the USS Fitzgerald destroyer is still working to account for all personnel and could not confirm if any is missing.

The US Navy ship was also damaged in the incident.

BEIRUT— A diplomatic crisis pitting Saudi Arabia against Qatar has put Syrian rebels in a difficult position, analysts say, after rivalries between Gulf backers had already weakened the opposition.

Both Sunni-r uled monarchies sided with the protesters in March 2011, when the war started with the brutal repression of anti-government demonstrations.

They continued supporting the mostly Sunni rebels when unrest spiralled into conflict between the armed opposition and troops loyal to President Bashar al-Assad, who hails from the country’s Alawite Shiite minority and is backed

by Saudi Arabia’s arch-rival Iran. But six years later, the rebellion has been plagued by rivalries between Riyadh and Doha, as well as weakened

by Russia’s military intervention in support of Assad’s forces. Moscow’s support for regime forces led to a series of setbacks for the rebels, including their landmark loss in December of second city Aleppo.

Last week, Saudi Arabia and allies, including the United Arab Emirates, severed or

reduced diplomatic ties with Qatar over accusations the emirate supports extremism, claims Doha has denied. “The current rupture puts the Syrian opposition in a very awkward position politically, as nobody wants to have to take sides publicly nor can afford to alienate either side,” said Yezid Sayigh, a senior fellow at the Carnegie Middle East Centre.

A rebel official in the opposition stronghold of Eastern Ghouta outside Damascus said he hoped the crisis between Doha and Riyadh was just “a temporary storm”. “Qatar, Saudi Arabia, Turkey, Jordan and the United Arab Emirates have supported the revolution of the Syrian people and shown solidarity throughout years of tragedy,” the rebel official said.

In a sign of the embarrassment the crisis is causing, several rebel groups approached refused to comment, saying it was a “sensitive” issue. But Sayigh said the latest flare-up in relations between Qatar and Saudi Arabia will have a limited impact on the Syrian conflict.

“It probably won’t have a major financial impact, nor a military one since the US and Turkey

have stepped up their support for factions that previously were close to Qatar or to Saudi Arabia,” Sayigh said. Riyadh “reduced its funding sharply starting” from the summer of 2015 “after it launched its intervention in Yemen” earlier in the year, he said.

Six years into the war, Syria’s fractured rebellion controls just around 10 percent of the war-torn country, with backing from Saudi Arabia, Qatar, Turkey, Jordan and the United States. Pro-Doha rebels including the powerful Ahrar al-Sham group are present in the north of the country. In Eastern Ghouta, pro-Doha opposition groups exist alongside the pro-Riyadh Jaish alIslam rebel alliance.

Rebels in the south, meanwhile, are trained by Amman and Washington. Another influential player is Syria’s former Al-Qaeda affiliate, which now leads the Tahrir al-Sham group and which some analysts and Syrian factions say has links with Qatar, although Doha has denied this.

Qatar led most mediation efforts to obtain the release of hostages held by the group formerly known as Al-Nusra

Front. In Eastern Ghouta, even before the Gulf crisis, factions supported by Qatar on one side and Saudi Arabia on the other had already clashed, killing hundreds of fighters.

Raphael Lefevre, a researcher at the University of Oxford, said the latest Saudi-Qatari crisis could well spark further tensions between rival groups in the rebel enclave. In 2013 and 2014, “Qatar and Saudi Arabia competed for inf luence within exiled opposition bodies, each by supporting different factions and leaders, something which largely contributed to paralysing and fragmenting the Syrian opposition,” he said.

But the consequences of the latest spat “could be much bloodier, especially as the two countries support rival rebel factions in areas already marked by a great degree of opposition infighting and regime violence such as the Eastern Ghouta”, Lefevre said.

Syria expert Thomas Pierret however said “local dynamics rather than external patrons det e r m i ne al l ia nces” i n Eastern Ghouta.

THE DESTINATION

Monday - June 19, 2017

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NATIONAL / INTERNATIONAL

A

lai Valley Highland Alai Valley is located in the southernmost area of Kyrgyzstan. This tectonic depression is bounded on the north and south by Alai and Trans-Alai ranges, respectively.

It is located 2240-3536 meters above sea level, the average height is 3000 meters. The valley stretches 174 km from west to east. The width varies between 3 to 40 km. The area is 8400 km2 . Despite its cold and dry climate, the valley is rich in succulent summer pastures. It is home to various wildlife, including rock partridge, ular, foxes, Alai red marmots, bears and mountain goats.

Rana Tahir Shahbaz

Örnök Petroglyphs The outskirts of the Örnök village, in the Issyk-Kul province, host priceless historical monuments, such as petroglyphs and burial mounds.

More than 2000 stone blocks have engraved images of wild and domestic animals and lifescenes (such as hunting, war, rituals, etc.) of ancient inhabitants of these lands, representing different time periods - Skythian, Usun, and Turkic.

Ala-Too Square The Ala-Too Square is one of the main attractions of the country and a favorite place for all city dwellers. Construction of the entire complex was completed in the 1970’s.

This spacious area is a venue for celebrations, festivals, and rallies. Each and every of the monuments erected in memory of the Kyrgyz people’s heroes (Manas Magnanimous, the great writer Chyngyz Aitmatov, wise and brave Kurmandjan Datka and the heroes who fell in Aksy, and April events) decorate the square. A 45-meter flagpole flaunts in the heart of the square. The Government House, State Historical Museum, Oak Park, Monument of Friendship of Peoples, Open Air Sculptures Museum, and many other cultural and recreational facilities are located on the perimeter of the square.

Saimaluu Tash State Natural Park Saimaluu Tash State Natural Park is situated in the Toguz Toro district of the Jalal Abad province, along the Kugart River. It sits on a total area of 32050 hectares. 16 species of mammals, 45 species of birds, and 1500 species of plants are registered in the park.

Saimaluu Tash means ‘patterned stone’ in Kyrgyz. Rock carvings are the main cultural and historical value of the park. The area has the largest accumulation of petroglyphs (about 90,000 stones) in Central Asia.

AU urges ‘restraint’ amid Djibouti-Eritrea tension

African Union urged restraint as tensions intensified between Djibouti and Eritrea over a disputed border territory after the

withdrawal of Qatari peacekeepers from a buffer zone.

AU Commission Chairperson Moussa Faki Mahamat called

for sending a fact-finding mission to the Djibouti-Eritrea border.”

Founder and Chief Editor: Rana Tahir Shahbaz Editor: Tayyaba Imran Contact #: 051-8314196 Fax#: 051-8315196 Mob#: 0300-8503803, 0347-5959747 www.thedestination.com.pk info@thedestination.com.pk

Kyrgyzstan Destinations

Ala-Archa National Park Located at an altitude of 1500-4895 meters above sea level, 41 km from Bishkek, and occupying an area of approximately 20 hectares, the Ala-Archa National Park includes all landscape and climatic zones.

A river with the same name flows through the gorge. The beautiful landscape and richness of flora and fauna in the park allows it to be used for hiking, recreation, and leisure all year round.

Konorchek Canyons The Konorchek сanyons are located on the eastern part of Kyrgyz Ala-Too range. These are magnificent monuments of nature, formed over several million years at the hands of natural forces such as the sun, wind, and waters.

These huge clay lumps take on forms that resemble ancient castles, churches, modern buildings, and animals. The altitudes of some canyons reach 300 meters. An extinct volcano called Segizhan Shokny (approximately 2.5-3 million years

Writers are requested to send their contributions at editor@thedestination.com.pk

Lowari Tunnel to be opened for traffic soon

Work on construction of Lowari Tunnel has almost been completed and it will be opened for traffic shortly.

Sources of the National Highway told our Peshawar correspondent that work on the Tunnel was resumed under the directive of Prime Minister Muhammad Nawaz Sharif about three years back.

The Prime Minister took keen interest in the completion of the tunnel and provided twenty five billion rupees for the project.

After opening of the tunnel, Chitral will remain linked with rest of the country throughout the year. It will reduce journey time between Peshawar and Chitral from fourteen to seven hours.

old) is another attraction that compliments the canyons.

Sary Chelek Lake Sary Chelek lake is located 500 km from Bishkek and 300 km from Osh, in the territory of the Sary Chelek State Biosphere Reserve. The lake lies on the boundary of At-Oinok and Chatkal ranges, at an altitude of 1940 meters. The lake covers an area of 507 hectares, has a length of 7.5 km, and a depth of 234 meters. It is the second and third deepest lake in Kyrgyzstan and Central Asia, respectively.

The coastline is covered with dense forests and rocky places in some areas. Sary Chelek is fed by several mountain rivers.

Karavshin Gorge The Karavshin Gorge is situated in the Turkestan Range. This marvelous piece of nature contains rocky mountains, fast flowing rivers, clean spring waters, and green meadows.

It much resembles the South American Steppes, giving itself the nickname “The Asian Patagonia,” as deemed by lovers of the outdoors.

Alamedin Gorge The well known Alamedin Gorge is located 30 km from Bishkek, at an altitude of 18002000 meters above sea level.

Juniper, birch, black currant, common cockle, rose hips, and sea buckthorn are just some examples of the area’s rich flora.

The river that flows through the gorge is also called Alamedin.

Going further up through the gorge, one can see steep cliffs that look like ruins of ancient fortresses. There are also the peaks Aitmatov (4650 meters) and Kyrgyzstan (4860 meters) which always attract tourists’ attention. The Alamedin Gorge is famous for its hot mineralized springs, of which there is a small spa resort based on.

Kel-Suu Lake The Kel-Suu Lake is located in the Naryn province, in the Kakshaal Too range of Inner Tien Shan, situated at an altitude of 3400 meters above sea level. It is quite close to the Chinese border. Surrounded by high rocky cliffs, it was formed as a result of large rockfall that blocked the narrow channel of the river. Kel-Suu stretches for more than 12 km and is 2 km wide. The depth varies, depending on the season of the year - reaching the maximum depth towards the end of summer as a result of the melting snow and ice in the mountains. The water in the lake is fresh and exhibits a greenish color. One can experience the lake in its full beauty by going for a ride on a motorboat.

Continued—source: http://www.discoverkyrgyzstan.org

US Admin rolls back former President Obama’s business dealings with Cuba

US President Donald Trump has rolled back the former President Obama’s administration business dealings with Cuba. Speaking in Miami, Florida, President Trump said his new policy

would tighten rules affecting travel and sending funds to the Caribbean island nation.

The new policy bans most US business transactions with the Armed Forces Business Enterprises Group of Cuba. It

also calls for tighter enforcement of a longstanding ban on American tourists going to Cuba. President Trump also signed a presidential directive rolling back parts of Obama’s opening to Cuba.

Turkey, Saudi Arabia discuss latest developments in region

Mali urges UN to authorize force to fight terrorism in Sahel

The Turkish Foreign Minister Mevlut Cavusoglu, who is in Saudi Arabia, held talks with Saudi King Salman bin Abdulaziz at Al-Safa Palace in Makkah on Friday night. The two leaders reviewed the bilateral relations between the two countries. They also discussed the latest developments in the region.

Mali’s foreign minister, Abdoulaye Diop has urged the U.N. Security Council to authorize the G-5 force to protect people in the five countries from the danger of terrorism. In a statement he said the five-nation force

should be deployed immediately. Earlier, leaders of the G5 - Mali, Burkina Faso, Mauritania, Niger and Chad - created the joint force to fight terrorism, trans-national organized crime and human trafficking.

Brexit negotiations to go ahead today In a statement, European Commission said negotiations will focus on issues related to citizens’ rights, the financial settlement, the Northern Irish border and other separation issues, as part of the sequenced approach to the talks. During the negotiations, European Union and United Kingdom will also discuss the structure of the negotiations and the issues that need to be addressed over the coming months.

Published by Rana Tahir Shahbaz from Office # 2 , First Floor, Abbasi Plaza , Bani Gala Islamabad (ph: 051-8314196, fax: 051-8315196) & Printed at Roohani Art Press Islamabad

THE DESTINATION

4 Monday - June 19, 2017

ECC approves proposals submitted by different ministries The Economic Coordination Committee of the Cabinet considered and approved proposals submitted by different ministries in its meeting in Islamabad. The meeting was chaired by Finance Minister Ishaq Dar. The ECC considered a proposal submitted by the Ministry of Commerce regarding the Prime Minister’s Package of Incentives for Exporters, and decided to extend the date of submission of claims till 30th September this year for

shipments and exports made up to 30th of this month.

The ECC considered and approved a proposal of the Ministry of National Food Security and Research to grant extension in the export period of wheat and wheat products beyond 15th March this year till 31st August this year. Only those wheat exporters, who have already shifted wheat from go downs of food departments prior to 15th March this year will be allowed to benefit from this extension.

The ECC also considered and approval another proposal of the Ministry of National Food Security and Research regarding outstanding claims of PASSCO on account of wheat supplied to Afghanistan.

While considering a proposal of the Federal Board of Revenue, the ECC decided to recommend to the Federal Government to extend the period of applicability of reduced rate of 0.4 percent on banking transactions of nonfilers till 30th September 2017.

IMF report portrays gloomy economic outlook in Pakistan

Wa s h i n g t o n D.C —T h e International Monetary Fund (IMF) concluded the Article IV consultation with Pakistan and has portrayed a gloomy future economic outlook in Pakistan.

The Article IV consultation is an annual consultation between IMF and its member states aiming to assess the economic health of the country and to prevent future financial problems. In a press release, the IMF released the details of the consultation with Pakistan. The report depicts a mostly bleak economic situation in Pakistan as opposed to the positive picture portrayed by government officials in Pakistan. An important revelation in IMF’s report is that the government debt (as percentage of GDP) is 66.6 percent as opposed to the 59.3 percent as claimed

by Federal Finance Minister Senator Ishaq Dar this week.

The total debt as reported by IMF is over Rs 21.2 trillion while Ishaq Dar claimed it was Rs 18.9 trillion. The IMF has revealed that the macroeconomic stability gains made between 2013-2016 have eroded and pose risks to the economic outlook of the country. Fiscal consolidation has slowed down, with the international agency reporting that the budget deficit target of 4.2 percent of Gross Domestic Product (GDP), set in the 2016/2017 budget is likely going to be exceeded.

Mor e ove r, t he c u r r e nt account deficit has widened and is expected to be 3 percent of GDP in 2016/17, driven by rapidly rising import of capital goods and energy. Foreign exchange reserves have reduced in the context of a stable rupee/dollar exchange rate. According to reports in media, in just past two weeks, the official foreign currency reserves decreased over $1.5 billion.

On the structural front, while the successful implementation of business climate and financial inclusion reforms has continued, some renewed accumulation of arrears in the power sector has been observed, and financial losses of ailing public sector enterprises continue to weigh on scarce fiscal resources.

Key external risks include lower trading partner growth, tighter international financial conditions, a faster rise in international oil prices, and over the medium term, failure to generate sufficient exports to meet rising external obligations from large-scale foreign-financed investments. However, the

IMF has reported Pakistan’s outlook for economic growth as favourable with real GDP estimated at 5.3 percent in fiscal year 2016/17 and strengthening to 6 percent over the medium term.

This has resulted f rom China-Pakistan Economic Corridor (CPEC) investments, improved availability of energy, and structural reforms that support growth.

Moreover, inflation has been gradually increasing but remains contained, and the financial sector has remained sound.

IMF directors commended the Pakistani authorities for strengthening macroeconomic resilience during their 2013–16 Fund supported program. They agreed that the growth outlook remains favorable, but noted that policy implementation weakened recently and macroeconomic vulnerabilities are reemerging. Against this backdrop, the Directors called on the authorities to safeguard the macroeconomic gains of recent years through continued implementation of sound policies, and to continue with structural reforms to achieve higher and more inclusive growth.

The Directors encouraged the authorities to strengthen fiscal consolidation. They noted that the FY 2017/18 budget aims at further gradual consolidation, albeit at a slower pace than targeted under the Fiscal Responsibility and Debt Limitation (FRDL) Act, and will likely require additional revenue measures in light of recent revenue underperformance.

They emphasized that sustained fiscal consolidation over the medium term, in line with the FRDL Act, is critical to strengthen economic resilience, safeguard fiscal sustainability, and limit pressures on the current account and international reserves. To this end, Directors recommended mobilizing additional tax revenues by broadening the tax base and strengthening tax administration; and enhancing the composition of public spending by containing the wage bill’s growth, further reducing electricity subsidies, and increasing priority social spending. They also recommended strengthening the national fiscal federalism framework and public debt management.

Directors stressed the importance of maintaining a prudent monetary policy stance to preserve low inf lation.

They noted that monetary

KP govt allocates Rs 40blnn for uplift of police department

policy has been appropriately accommodative, and urged the State Bank of Pakistan (SBP) to remain vigilant and be ready to tighten it in case inflationary pressures emerge or foreign exchange market pressures intensify. Directors called on the authorities to allow for greater exchange rate flexibility—rather than relying on administrative measures—to help reduce external imbalances and bolster external buffers.

In this regard, they welcomed the authorities’ commitment to remove, within one year, the cash margin requirement for imports of consumer goods, which constitutes an exchange restriction and multiple currency practice.

Directors welcomed ongoing progress in strengthening central bank autonomy, and called for implementing the remaining recommendations from the 2013 Safeguards Assessment and to phase out government borrowing from SBP. Directors saw many of the abovementioned measures as preconditions for moving to an inflation targeting regime in the medium term.

D i r e c t or s u nd e r s c or e d the importance of further advancing financial sector refor ms to continue strengthening resilience and support financial deepening. They welcomed efforts to bring undercapitalized banks into regulatory compliance, further strengthen the regulatory and supervisory frameworks, address non performing loans, and enhance the AML/CFT framework.

Directors looked forward to the operationalization of the new deposit insurance.

Directors stressed that further progress in the structural reform agenda is needed to make growth more inclusive and reduce poverty. They welcomed the progress in fostering financial inclusion and implementing the business climate reform strategy, and encouraged the authorities to press ahead with these efforts.

Directors also recommended further strengthening social safety nets. They called for maintaining a strong regulatory framework in the energy sector, swiftly addressing the renewed build up of arrears in the sector, and ensuring its financial soundness.

Directors noted that restructuring and attracting private sector participation in public enterprises as well as improving their governance will ensure their financial viability and economic efficiency while reducing fiscal risks.

P E S H AW A R — K h y b e r Pakhtunkhwa government has allocated Rs 40 billion for uplift of police department. Official sources said that the amount will be spent on establishment of police training schools in Nowshera, Swabi and Swat districts and construction of police training directorate.

The sources added that seven

police lines, thirty-three police stations and eighty-eight police posts will be established in different areas of the province.

The amount will also be spent on recruitment of four thousand constables, establishment of rapid response force and special combat unit and training of police force

Rs25b allocated in fy 2017-18 for development of gas infrastructure

Gover nment has allocated twenty five billion rupees in the current fiscal year for development of gas infrastructure across the country, including Iran-Pakistan gas pipeline project.

T his was st ated by off icial sources in the Ministry of Petroleum and Natural Resources while talking to APP. The practical work on Iran-Pakistan gas pipeline

project will be started as soon as all international sanctions on Iran are completely lifted.

They said a few international sanctions on Iran including ‘dollar transaction’ are causing delay in execution of the much awaited project. The officials said Pakistan is ready to complete its part of the gas pipeline within thirty months, once the sanctions on Iran are lifted.

Syrian army declares 2-day combat cessation in southern city

Syrian military has announced the cessation of all combat operations in the southern city of Daraa for 48 hours in support of national reconciliation. The announcement comes after the contested city witnessed some of the worst fighting in months amid fears by opposition activists that the government will

try to take Daraa, where the country’s civil war began in 2011. Meanwhile, activists said that de-escalation agreement brokered by Iran, Russia and Turkey in May has not brought any relief to the city. The agreement covers four zones in Syria where the rebels are fighting pro-government forces.

Brexit negotiations to go ahead today

In a statement, European Commission said negotiations will focus on issues related to citizens’ rights, the financial settlement, the Northern Irish border and other separation issues, as part of the sequenced

approach to the talks. During the negotiations, European Union and United Kingdom will also discuss the structure of the negotiations and the issues that need to be addressed over the coming months.