Category: Islamabad

Islamabad: Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Monday chaired a meeting to review the proposals for the Public Sector Development Program (PSDP) for the fiscal year 2025-26.

The meeting, attended among others by Secretary Planning Awais Manzur Sumra and senior ministry officials, approved guiding principles for incorporating new projects and carrying forward ongoing ones in the annual development plan, according to a news release.

The minister issued clear instructions to reduce the throw-forward of the PSDP, stressing the need to prioritize completing projects where 80 per cent of the cost has already been incurred. "Timely provision of funds for high-priority projects must be ensured, while low-value projects should be frozen," he added.

The meeting also decided that new projects aligned with the objectives of "URAAN PAKISTAN," the National Transformation Plan 2024-29, would be incorporated into the upcoming PSDP.

Ahsan Iqbal stressed that the development budget would be linked to achieving the desired outcomes, making the allocation of public resources accountable.

The meeting directed all ministries to present implementation plans that would improve the quality and performance indicators of their projects when submitting new schemes.

The minister highlighted that URAAN PAKISTAN was a comprehensive plan for the country's development and that all national development goals must be linked to this program to achieve the required economic growth pace.

Islamabad: A delegation of traders from district Mohmand, led by Aamir Fida Paracha, met with Governor Khyber Pakhtunkhwa Faisal Karim Kundi, at his residence in Islamabad on Monday and discussed the problems faced by the traders community.

The Governor assured the delegation that their problems would be resolved on priority basis.

He further said that the Inspector General of Police and other responsible personnel would be informed the issues faced by traders.

Islamabad: Prime Minister Shehbaz Sharif on Monday said that the policy rate reduction of 1% by the State Bank of Pakistan would help boost the investors' confidence in the country's economy.

The prime minister, in a statement, called the policy rate reduction to 12% a welcome move for the economy and expressed optimism that it would pave the way to increased investment.

He said that the policy rate has been reduced due to the low inflation rate and expressed the hope that the inflation would decrease further in the coming months.

Prime Minister Shehbaz also appreciated the services of Finance Minister Muhammad Aurangzeb and relevant departments to revive the national economy.

Islamabad: A group of civil servants on Monday visited the Islamabad Deputy Commissioner's Office to learn about its governance practices, digital initiatives, and citizen facilitation systems.

A delegation of Grade 18 officers from various civil service groups participated in the study visit as part of their Mid-Career Management Course.

On the occasion, Additional Commissioner Rabia Aurangzeb welcomed the participants and briefed them on key features of the district administration's working model.

The briefing covered the district's e-governance system and the open-door policy designed to ensure public accessibility and transparency.

The participants also learned about the Digitalization Policy and the Islamabad City App, which aims to streamline public services and enhance administrative efficiency.

Meanwhile, the delegation visited the Citizen Facilitation Center, a hub where multiple services are provided to residents under one roof. Officers reviewed the facilities and operations at the center, observing how the administration handles public needs effectively.

The participants expressed their appreciation for the initiative, highlighting the center's role in addressing citizens' concerns efficiently.

The visit concluded with Additional Commissioner Rabia Aurangzeb presenting shields and souvenirs to the delegation as a token of goodwill and collaboration.

Islamabad: Prime Minister Shehbaz Sharif on Monday directed the Pakistan Railways to provide improved travelling facilities to passengers through the public-private partnership.

The prime minister, chairing a meeting to discuss the matters pertaining to the Pakistan Railways, called for a strategy to attract customers by offering them competitive rates and facilities, according to a PM Office press release.

He asked the Railways to utilise its land for commercial purposes in collaboration with the private sector and also formulate a strategy to enhance trade activity in the region, particularly with the Central Asian states.

The prime minister also instructed to utilise the services of professional and capable manpower and replace the conventional railway system with the modern one using the latest technology.

He also called for measures to ensure the profitability of the freight as well as the passenger services.

During the briefing, it was told that the 2022 floods had inflicted a Rs10 billion loss to Pakistan Railways as rail tracks remained inundated for 35 days. After the 2022 floods, Pakistan Railways improved its functioning and also earned a profit equaling the initial cost through its freight operations as the department had almost 8% share in the freight market.

The meeting was told that 18% of unnecessary workforces has been dismissed as part of the rightsizing process. Besides, work on the communication linkage of Thar Coal was going on swiftly.

Federal ministers Dr Ahsan Iqbal, Muhammad Aleem Khan, Muhammad Aurangzeb, Khawaja Muhammad Asif, Jam Kamal Khan, Ahad Khan Cheema and Sardar Awais Leghari, and relevant senior officers attended the meeting.

Islamabad: The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 1,360.16 more points, a negative change of 1.18 percent, closing at 113,520.32 points as compared to 114,880.49 points on the last trading day.

A total of 494,003,725 shares were traded during the day as compared to 632,039,226 shares the previous trading day, whereas the price of shares stood at Rs25.940 billion against Rs.37.800 billion on the last trading day.

As many as 442 companies transacted their shares in the stock market,97 of them recorded gains and 298 sustained losses, whereas the share price of 47 companies remained unchanged.

The three top trading companies were Sui South Gas with 51,651,701 shares at Rs 39.53 per share, Cnergyico PK with 50,683,570 shares at Rs.7.57 per share and WorldCall Telecom with 29,067,822 shares at Rs.1.73 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs395.46 per share closing at Rs 21,995.45 whereas runner-up was Archroma Pakistan Limited with Rs 43.51 rise in its share price to close at Rs.478.56.

Mari Energies Limited witnessed a maximum decrease of Rs.48.13 per share price, closing at Rs 536.46, whereas the runner-up was Colgate-Palmolive (Pakistan) Limited with Rs 40.10 rise in its per share price to Rs.1,497.88.