Govt borrows 155 pc more from banks

The government has borrowed 155 percent more only in five months than a target set for the whole year. The budget target was 166 billion rupees but loans of 418 billion rupees have been taken by the government.

According to SBP report, Govt loans from central bank stand at Rs 336 billion and it took Rs 82 billion from other banks. While in the same period, private sector got loans of Rs 70.86 billion.

Each displaced family to get Rs. 20,000: Kaira

Staff Report

ISLAMABAD: Federal Information Minister Qamar Zaman Kaira said on Thursday that the National Oversight Disaster Management Council (NODMC) has been set up to ensure transparency and judicious distribution of assistance to the flood affected people.

Addressing a press conference here, he said provinces have been asked to give names of persons with good repute for the Council.

Kaira said the NODMC would be established within one or two days as, “We are waiting for the names from provinces.”

He said the Council will comprise of eminent personalities with good reputation and impeccable integrity from different walks of life.

“People from the private sector with a good reputation would be taken into the council so that no one can point fingers at them.”

Indian Prime Minister, German Chancellor and President of the Maldives

Target killers threat for Pakistan’s sovereignty: Gilani

KARACHI: Prime Minister Syed Yusuf Raza Gilani, appealing to international community for aid of Pakistan floods’ affectees, has said 14 August, the national Independence Day, will be celebrated with simplicity across country for expressing solidarity with those killed and displaced by country’s historic floods, Geo News reported.

Target killers have posed serious threat on country, he said. “Financially sound communities and individuals along with private sector should come forward for relief of flood victims”, he urged.

Lauding the role of Pakistan army, PM Gilani said army has shown great temperament in provision of relief and rescue to flood victims.

The rehabilitation and repatriation of IDPs rendered displaced by fierce flash floods take the lead among government’s priorities, the Premier declared.

Lamenting over the devastation wracked by the killing of MQM’s MNA Raza Haider, he said his assassination has stuck the financial hub Karachi in darkness.

“We are combating those anti-Pakistan elements like no previous government did and we shall not give in to militants’ agenda”, he vowed adding target killers have become a serious threat for Pakistan’s stability and sovereignty.

PM for optimum utilization of resources to strengthen economy

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani on Thursday said the macroeconomic stabilization brought about through sustained economic policies could be further consolidated through focused attention on optimum utilization of resources.

This, he added, would require continuous review of the development planning and appropriate allocations.

The Prime Minister was talking to Minister for Finance, Dr. Abdul Hafeez Sheikh and Deputy Chairman Planning Commission, Dr. Naeemul Haq at a meeting here at the PM Secretariat.

The Prime Minister said access to education and better health facilities would remain the priority areas of the government.

These sectors, he mentioned, could help develop productive human capital much needed for the economic growth of the country. As regards employment generation, he said the private sector has to be pursued and encouraged to invest in various sectors.

The Finance Minister and the Deputy Chairman Planning briefed the Prime Minister about the economic and development prospects during the financial year 2010-11.

Biggest Strike Paralyses Greece

Angry public and private sector workers in Greece walked off the job on Thursday, grounding flights, shutting schools and freezing public transport in the second nationwide strike in as many weeks against austerity plans.
Police estimate some 20,000 demonstrators joined a protest march through Athens as opinion polls showed increasing opposition to many of the measures. But the 24-hour strike is unlikely to halt government plans to slash spending and hike taxes to rein in a yawning deficit that has shaken the euro.
Greeks largely see the plan as unfair and not hitting the right people, in a country where corruption and tax evasion are widespread.
The major public and private sector unions – representing about half of the country’s five million workforce – organised the march and say the EU-backed austerity plan will only hurt the poor and aggravate the recession-hit country’s economic problems.

FoDP Forum Meeting in Dubai Today

DUBAI: A meeting of the Friends of Democratic Pakistan (FoDP) is being held in United Arab Emirates today.

Foreign Minister Shah Mehmood Qureshi has said the friends will be invited for investment in private sector in Pakistan.

In the conference being held in Dubai will discuss to promote and encourage the role of partnership between the public and private sectors to help Pakistan to achieve social and economic development.

The conference also aims to encourage the private sector in the 23 member states in the Group to invest in Pakistan particularly in the sectors of energy, infrastructure, agriculture, health and education.

The Pakistani side will present the investment opportunities and projects that the Government of Pakistan intends to put forward in the context of reconstruction and stability for the people of Pakistan.

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FoDP Forum Meeting in Dubai Today was first posted on January 26, 2010 at 3:09 pm.

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