PSDP 2024-25: Govt. releases Rs628.891 bln development funds in seven months

Islamabad: The government has authorized the utilization of development funds amounting to Rs 628.891 billion, out of a total allocation of Rs1100 billion, for various ongoing and new social sector uplift projects of the federal ministries and divisions during the first seven months (July-January) of the fiscal year 2024-25 under its Public Sector Development Programme (PSDP).

Out of the total authorized/disbursed amount, the total amount spent so far on the development projects during the corresponding period stood at Rs220.196 billion, according to the latest data released by the Ministry of Planning, Development and Special Initiatives.

The detail showed that Rs153.512 billion, out of a total allocated amount of Rs255,854 billion, has been disbursed to corporations including National Highway Authority (NHA), National Transmission and Despatch Company (NTDC) and Pakistan Electric Power Company (PEPCO).

For the Aviation Division, funds amounting to Rs2.206 billion have been disbursed and Rs405.30 million for the Board of Investment.

Similarly, the government authorized Rs48.640 billion to the Cabinet Division, Rs 1.839 billion to the Ministry of Climate Change, Rs771 million to the Commerce Division, Rs 254.80 million to the Ministry of Communications (other than NHA), Rs3.231 billion to the Defence Division, Rs2.076 billion to the Defence Production Division, Rs322.35 million for the Establishment Division, Rs12.450 billion to the Federal Education and Professional Training Division, Rs2.129 billion to the Finance Division, Rs145.106 billion to Provinces and Special Areas, Rs36.669 billion to the Higher Education Commission, Rs4.109 billion to the Housing and Works Division, Rs62.40 million to the Human Rights Division, Rs1.494 billion to the Industries and Production Division, Rs2.205 billion to the Information and Broadcasting Division, Rs8.375 billion to the Information Technology and Telecom Division, Rs1.207 billion to Inter Provincial Coordination Division, Rs5.232 billion to the Interior Division, Rs558 million to the Law and Jus tice Division, Rs910 million to the Maritime Affairs Division, Rs59.33 million to the Narcotics Division, Rs8.374 billion to the National Food Security and Research Division, Rs14.850 billion to the National Health Services, Regulations and Coordination Division, Rs355.25 million to the National Heritage and Culture Division, Rs153.80 million to the Pakistan Nuclear Regulatory Authority, Rs886.50 million to the Petroleum Division, Rs7.492 billion to the Planning, Development and Special Initiatives Division, Rs21 billion to the Railway Division, Rs175 million to the Religious Affairs and Interfaith Harmony Division, Rs5.817 billion to the Revenue Division, Rs3.989 billion to the Science and Technological Research, Rs414.42 million to the States and Frontier Regions Division, Rs345.48 million to the Strategic Plans Division and Rs101.758 billion to the Water Resources Division.

Crisis Unit at MoFA activated as a vessel carrying 65 passengers capsizes in Libya

Islamabad: A vessel carrying approximately 65 passengers capsized near the port of Marsa Dela, North West of Zawiya city, Libya with the Pakistan embassy there trying to ascertain the identities of affected Pakistanis.

"Our Embassy in Tripoli has informed that a vessel carrying approximately 65 passengers capsized near the port of Marsa Dela, North West of Zawiya city, Libya," according to a Foreign Office press release.

The Pakistan Embassy in Tripoli immediately dispatched a team to Zawiya Hospital to assist the local authorities in identification of the deceased. The Embassy is also trying to ascertain further details of the Pakistani affectees. it added.

Besides, the Crisis Management Unit of the Ministry of Foreign Affairs has been activated to monitor the situation. For any query related to this incident, the following numbers can be contacted:

Parep Tripoli

03052185882(WhatsApp)

+218913870577(Cell)

+218 91-6425435(WhatsApp)

Crisis Management Unit, Ministry of Foreign Affairs Islamabad

Phone No: 051-9207887

Email: [email protected]

Pakistan, Belarus agree for enhancing collaboration in 8th JMC meeting

Islamabad: Pakistan, Belarus on Monday agreed on enhanced collaboration across key sectors in 8th Joint Ministerial Commission (JMC) meeting.

The 8th session of the Pakistan-Belarus Joint Ministerial Commission on trade and economic cooperation was successfully concluded with the signing of important protocols in Minsk, Belarus, said press release issued here.

The session was marked by positive and constructive discussions aimed at further strengthening the economic, commercial, and technical ties between the two countries.

The meeting was co-chaired by Aleksey Kushnarenko, Belarusian Minister for Energy and Jam Kamal Khan, Pakistan's Federal Minister for Commerce.

Special Secretary of Pakistan's Ministry of Economic Affairs, Muhammad Humair Karim, also accompanied the federal minister, contributing to the success of the session.

The meeting witnessed the participation of senior officials and diplomats from both countries, who engaged in detailed deliberations on key areas of bilateral cooperation. Both sides recognized the importance of addressing labor migration issues and expressed a shared interest in strengthening cooperation in this area. They agreed to begin discussions on the prospects for bilateral collaboration, focusing on improving labor mobility and ensuring the protection of workers' rights.

Both countries also committed to holding talks aimed at finalizing Memorandums of Understanding (MoUs) to establish a framework for cooperation, creating new opportunities for skilled workforce exchange, and further reinforcing economic ties between Pakistan and Belarus.

In the industrial sector, the two sides expressed satisfaction with the ongoing projects and agreed to further progress in establishing joint assembly plants for energy-efficient tractors and electric buses.

Both sides focused on expanding industrial cooperation by enhancing the existing partnership between Heavy Industries Taxila (HIT) of Pakistan and Belarus' MTW, with joint projects focusing on agricultural machinery, transportation, and industrial equipment.

A key outcome of the session was the agreement to expand cooperation in agriculture, particularly in seed production, livestock, veterinary medicine, and fisheries. Both sides recognized the importance of food security and pledged to work together to increase the volume and diversity of food and agricultural products traded between the two nations. Efforts will be made to support the participation of business entities in international agricultural exhibitions and forums.

In the healthcare and pharmaceuticals sector, both sides agreed to explore avenues for collaboration in the production, distribution, and market access for medicines, medical devices, and over-the-counter (OTC) products. Joint training programs for regulatory authorities and industry professionals were highlighted as an important area of cooperation.

Both sides will continue to promote technical expertise and compliance with international standards, including Good Manufacturing Practices (GMP) and Good Distribution Practices (GDP). Pakistan also committed to facilitating the registration of veterinary drugs from Belarus and ensuring mutual assistance in advancing agricultural technologies.

The two sides agreed to develop a joint action plan for the implementation of the Memorandum of Understanding (MoU) signed between Pakistan's National Vocational and Technical Training Commission (NAVTTC) and the Belarusian University of RIPO.

This collaboration aims to improve vocational and technical education in both countries. Belarus also expressed readiness to host a visit from Pakistan's NAVTTC delegation to explore the educational potential of Belarus and facilitate the participation of Pakistani contestants in the 2025 Republican Competition of Professional Skills.

Both countries agreed to continue expanding cooperation in the fields of science and technology.

This includes the implementation of agreements between the National Academy of Sciences of Belarus and Pakistan's

Academy of Sciences, as well as joint competitions for scientific and technical projects.

They agreed to work toward greater cooperation in the field of national standards, including the signing of agreements between the Belarusian State Institute of Standardization and Certification and Pakistan's PSQCA.

Recognizing the importance of environmental sustainability, the two sides reaffirmed their commitment to implementing the Memorandum of Cooperation in the field of environmental protection.

An action plan (roadmap) will be signed during the upcoming visit of Pakistan's Prime Minister to Belarus. Additionally, Belarus expressed its willingness to facilitate a visit by Pakistan's National Disaster Management Authority (NDMA) to explore cooperation on fire-fighting and rescue equipment.

Pakistan and Belarus agreed to renew the cooperation agreement between the National State Television and Radio Company of Belarus and Pakistan Television Corporation (PTV), fostering exchanges in media and journalism. The two countries will also work together to promote tourism by exchanging information on tourism products and inviting each other's representatives to exhibitions and tourism forums.

In the sports sector, both sides agreed to promote mutual exchange of information on sports facilities and competitions, with the aim of enhancing sports cooperation between the two nations.

Both countries acknowledged the importance of fostering correspondent banking arrangements between Pakistani and Belarusian commercial banks. This will facilitate financial transactions and support the broader economic cooperation between the two countries.

On the sidelines of the JMC, the Pakistani delegation engaged in productive discussions with key Belarusian officials, including Aleksey Kushnarenko, Minister for Energy, Anatoly Linevich, Minister for Agriculture, and Sergey Lukashevich, Deputy Minister for Foreign Affairs.

These high-level meetings paved the way for strengthening collaboration in the vital sectors of energy and agriculture, fostering deeper ties and creating promising opportunities for mutual growth and development.

Both sides agreed that the 9th Session of the Joint Ministerial Commission will be held in Islamabad, Pakistan, in 2026, with the exact dates and agenda to be mutually decided through diplomatic channels.

Crisis Unit at MoFA activated as a vessel carrying 65 passengers capsizes in Libya

Islamabad: A vessel carrying approximately 65 passengers capsized near the port of Marsa Dela, North West of Zawiya city, Libya with the Pakistan embassy there trying to ascertain the identities of affected Pakistanis.

"Our Embassy in Tripoli has informed that a vessel carrying approximately 65 passengers capsized near the port of Marsa Dela, North West of Zawiya city, Libya," according to a Foreign Office press release.

The Pakistan Embassy in Tripoli immediately dispatched a team to Zawiya Hospital to assist the local authorities in identification of the deceased. The Embassy is also trying to ascertain further details of the Pakistani affectees. it added.

Besides, the Crisis Management Unit of the Ministry of Foreign Affairs has been activated to monitor the situation. For any query related to this incident, the following numbers can be contacted:

Parep Tripoli

03052185882(WhatsApp)

+218913870577(Cell)

+218 91-6425435(WhatsApp)

Crisis Management Unit, Ministry of Foreign Affairs Islamabad

Phone No: 051-9207887

Email: [email protected]

PSX witnesses bullish trend, gains 1,055 points

Islamabad: The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Monday, gaining 1,055.03 points, a positive change of 0.96 percent, closing at 111,377.97 points as compared to110,322.94 points on the last trading day.

A total of 415,160,931 shares were traded during the day as compared to 299,678,289 shares the previous trading day, whereas the price of shares stood at Rs 23.947 billion against Rs15.624 billion on the last trading day.

As many as 429 companies transacted their shares in the stock market, 198 of them recorded gains and 172 sustained losses, whereas the share price of 59 companies remained unchanged.

The three top trading companies were Bank of Punjab with 55,937,922 shares at Rs 10.28 per share, WorldCall Telecom with 34,117,748 shares at Rs.1.53 per share and Cnergyico PK with 31,378,841 shares at Rs.7.53 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs787.49 per share closing at Rs23,232.28 whereas runner-up was Ghandhara Industries Limited with Rs 57.88 rise in its share price to close at Rs.636.70.

Bata Pakistan Limited witnessed a maximum decrease of Rs.44.24 per share price, closing at Rs 1,919.00, whereas the runner-up was Faisal Spinning Mills Limited with Rs 36.15 decline in its per share price to Rs.325.96.

Crisis Unit at MoFA activated as a vessel carrying 65 passengers capsizes in Libya

Islamabad: A vessel carrying approximately 65 passengers capsized near the port of Marsa Dela, North West of Zawiya city, Libya with the Pakistan embassy there trying to ascertain the identities of affected Pakistanis.

"Our Embassy in Tripoli has informed that a vessel carrying approximately 65 passengers capsized near the port of Marsa Dela, North West of Zawiya city, Libya," according to a Foreign Office press release.

The Pakistan Embassy in Tripoli immediately dispatched a team to Zawiya Hospital to assist the local authorities in identification of the deceased. The Embassy is also trying to ascertain further details of the Pakistani affectees. it added.

Besides, the Crisis Management Unit of the Ministry of Foreign Affairs has been activated to monitor the situation. For any query related to this incident, the following numbers can be contacted:

Parep Tripoli

03052185882(WhatsApp)

+218913870577(Cell)

+218 91-6425435(WhatsApp)

Crisis Management Unit, Ministry of Foreign Affairs Islamabad

Phone No: 051-9207887

Email: [email protected]