Balochistan govt issues Eid perfume bomb alert
August 24, 2011 by Trend PK
Filed under Breaking News
The caution has been issued in wake of possible terror attacks on government officials in Balochistan.
Official sources told a news agency that the government of Balochistan issued a circular on Wednesday in which VIPs and government officials have been directed to be on high alert on Eid as the terrorists could target them through perfume bombs.
It has been said in the circular that if any official finds perfume-like bombs he should immediately inform law enforcing agencies.
All banks to start pension disbursement from Jan. 1
November 5, 2010 by Trend PK
Filed under Breaking News
State Bank of Pakistan(SBP) on Thursday directed all banks to start payment of pension through their branch network from Jan. 1, 2011.This arrangement will go a long way in mitigating the problems being faced by elderly pensioners, SBP said.According to a circular, all banks have been advised by SBP to make necessary arrangements for disbursement of pension accordingly from the above-mentioned date.
It may be recalled that the Supreme Court of Pakistan had passed an order sometime back that all pensioners of the Federal, Provincial and Defence departments shall be allowed to open their accounts in any scheduled bank and the banks shall be instructed to transfer the amount of pension in their account on 30th of every month enabling them to draw the same as per their choice.
The State Bank had earlier directed all banks to comply with the Supreme Court Order. However, payment of pension through all banks required a number of steps including amendment in the Federal Treasury Rules. The pension disbursement agencies also needed time to align their systems and procedures so that they are able to send the pension to the bank account of each pensioner by the 30th of every month.
Therefore, for implementing the Supreme Court of Pakistans order, a pension task force was constituted with representation from Employees Old-age Benefit Institution, Accountant General Pakistan Revenues, Controller General Accounts, Military Accountant General, Finance Division, SBP and Pakistan Banks Association to sort out the procedural formalities.
Accordingly, the task force recommended standard operating procedure (SOP) to disburse pension through all banks. The SOP clearly stipulates responsibilities of the Pensioners, Accounts Offices and the Banks.According to the Circular, the State Bank will monitor compliance of the new instructions by all banks from January 1, 2011.
SC seeks list of loan write-off beneficiaries
The Supreme Court has asked to submit list of those whose loans have been written off during last two years. Chief Justice Iftikhar Muhammad Ch. Said that the loans have to be returned if waived illegally.
In the hearing of the case about write-off loans, lawyer Khawaja Haris told the court that almost Rs 50 billion were written off during last two years and most of the loans were waived off by commercial banks. It was also told to the court that Rs 154 billion loans were written off from 1971 to 2000. On this, the court demanded list of loans waived off during last two years. The CJP said that Governor State Bank and Sindh Governor might be called if needed. He said that the circular that waived loans would be scrutinized. He said that State Bank has no authority to issue circular under Article 33.
Circular debt: PSO to be paid Rs41.4bn
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani on Tuesday urged all the stakeholders to honour their commitments made during the energy summit and pay their outstanding dues of electricity to help reduce the circular debt.
The prime minister was chairing a special meeting held here at the Prime Minister”s House to review the circular debt situation arising out of the pending payments to PSO (Pakistan State Oil).
PM Gilani directed the concerned ministries and organizations for closer coordination among all the stakeholders, including the provincial governments within the next few days to resolve the circular debt issue before it leads to any crisis.
The circular debt, he said, be regularly monitored on daily basis and the dues/claims of different organizations including, provincial governments be settled.
The prime minister decided to provide an immediate financial relief to the PSO amounting to Rs. 41.4 billion. The Ministry of Finance would arrange an amount of Rs. 31.4 billion while PEPCO would pay Rs. 10 billion.
Earlier, the Minister for Petroleum and Natural Resources briefed the meeting about gravity of the situation arising out of delay in payments to PSO by various power companies.
The Minister for Water and Power apprised the meeting of delay in payments by the provincial governments as per commitments made during the energy conference.
He also informed of the recoveries made by PEPCO so far from various organizations. He further opined that the issue of circular debt can only be resolved when the gap between the cost of production and the price of electricity is eliminated.
The Minister for Finance assured that the amount due against the Federal Government as per the Energy Summit decision would be cleared within the next few days.
Tahir Basharat Cheema, MD, PEPCO informed that PEPCO would be able to partially clear the PSO”s bills from the recoveries made so far and likely to be made till the end of this month.
The meeting was also attended by Minister of State for Finance and Economic Affairs Ms Hina Rabbani Khar, Secretary Finance, Secretary Water and Power and Additional Secretary Petroleum and Natural Resources.
Kot Addu’s power project closed
KARACHI: Kot Addu Power Company said the circular debts of various departments have forced the closure of a power project of 280 Megawatts, Geo News reported Thursday.
Kot Addu company said in its press release that the basic reason for closing this 280-MW project is the circular debts, as the project was estimated at $350 million.
According to experts, the circular debts exceeded Rs235 billion and it was quite difficult to run the project, as a result of non-payment of the Company’s dues and payment worth over Rs20 billion to Pakistan State Oil (PSO).
Kot Addu Power Company has the capacity to generate 1600 MW of electricity in contrast with the actual production of 1280 MW.
Kamal urges educated section to join politics
KARACHI: Former Karachi Nazim Syed Mustafa Kamal urged the educated people to take part in active politics instead of becoming doctors.
Speaking at a ceremony at Jinnah Women University today (Tuesday), he questioned, “If people holding fake degree can become politicians, then why not the educated people do this?”
He said: “The feudals and capitalists have been ruling this country but time has now come that educated people come forward and join politics.”
Kamal predicted that Karachi would face water issue instead of loadshedding in 2012 and called for steps in view of future needs.
Energy conservation: 2 weekly off days recommended
ISLAMABAD: Four committees formed to come up with suggestions for conservation of energy submitted its recommendation to the government for reduction of load-shedding from 8 to 4 hours.
The recommendations presented to the Federal Minister for Water and Power, Raja Pervez Ashraf mainly suggested observance of two weekly off days, closure of businesses at 8:00 PM and elimination of electronic billboards.
The committee said the above steps could save 2,000 MW electricity.
Other recommendations included completion of wedding ceremonies in commercial halls between 8 PM and 12 PM in Karachi while in other parts of the country the allowed duration should be between 8 PM and 11 PM.
The option of advancing clocks by 1 hour was struck down on lack of agreement.
It was also included in the recommendations to undertake load-shedding of gas at CNG stations for one day a week with an aim to increase power generation capacity.
Meanwhile, Ministry of Finance has held out the assurance it will pay Rs116 billion to retire the circular debt within the next 15 days.
It was recommended that bottlenecks and irritants in construction of Bhasha Dam, Baunji Dam be removed and work be initiated in this regard as soon as possible.
PSO’s Circular Deficit Surpasses Rs 85bn
PSO’s Circular Deficit Surpasses Rs 85bn, Circular deficit of Pakistan State Oil (PSO) has surpassed Rs 85 billion. According to Ministry of Petroleum sources, oil refineries have slashed supply of furnace oil up to 60 percent. PSO has to pay Rs 62 billion arrears to oil refineries. PSO’s arrears towards WAPDA are Rs 33 billion, Hubco’s Rs 28 billion, KEPCO’s Rs 14 billion, PIA’s Rs 1.5 billion and AEF Lal Pir’s Rs 1 billion.
PSO’s Circular Deficit Surpasses Rs 85bn was first posted on January 28, 2010 at 10:42 pm.
PSO Facing Rs 77.7 Billion Circular Debt
PSO Facing Rs 77.7 Billion Circular Debt, Senate’s Standing Committee for Petroleum Chairman Sabir Baloch said that PSO is facing circular debt of Rs 77.7 billion. He said that many sectors including power sector may face problems if proper steps are not taken on war footing. He was talking to a meeting of Senate’s Standing Committee for Petroleum Chairman. In the meeting, MD PSO Irfan Qureshi said that different organizations including power sector have to pay Rs 69.6 billion arrears of PSO. Criticizing the WAPDA, Senator Haroon Khan said that proper steps are not being taken to end the circular debt of PSO.
PSO Facing Rs 77.7 Billion Circular Debt was first posted on November 24, 2009 at 3:59 pm.
Reshma Shetty
Reshma Shetty, Reshma Shetty was born in November 2, 1977. She is an actress of Asian Indian who was raised in England and Richmond, Virginia in the United States.
Reshma Shetty was first posted on October 13, 2009 at 4:18 pm.
