Category: Karachi

Karachi: Chairman Prime Minister's Youth Development Program Rana Mashhood Ahmed Khan has said that the practical steps for economy revival taken by Prime Minister Muhammad Shehbaz Sharif are yielding fruits as all the economic indicators of Pakistan are pointing in the right direction while the world's leading rating agencies are giving Pakistan positive ratings.

He said this while addressing a press conference at a program of the National Youth Council Pakistan - Sindh here on Sunday.

He said that the work done by Prime Minister Muhammad Shehbaz Sharif, on the revival of the economy and the way the Premier took practical steps for the prosperity of Pakistan by bringing all stakeholders together, we believe that its fruits have now started to come.

Rana Mashhood said that all the economic indicators of Pakistan are pointing in the right direction and the world's rating agencies are giving Pakistan a better rating.

He said that the attempts to create disturbance in Pakistan was rejected by the youth of Pakistan. The youth of Pakistan want a future, they want their own future, they want a positive platform on which they can deliver and this is the agenda of the Prime Minister Youth Program.

He said that when Prime Minister Shehbaz Sharif returned to power and became the Prime Minister for the second time, the first meeting he held was on Revenue. It was Prime Minister's commitment was that direct from the oath taking, he went straight to the first meeting and placed finance and economy on top of it, he said.

He said that today, there is representation from the entire Sindh and it was our vision that we should bring such a youth council from all over Pakistan on the basis of merit that would become the driving engine to deliver for the youth of Pakistan

He said that this process took us six months, but after these six months, the youngster including boys and girls who came from all over Pakistan and 20 boys and girls from Sindh are here. They are the face of the youth of Pakistan, which is now going to become the advisory council of the Prime Minister, he said.

Rana Mashhood said that the Youth Advisory Council will tell the Prime Minister Shehbaz Sharif, what the youth wants as this will be our link with the youth of Pakistan. It will be in universities, colleges, and other institutions, wherever the organization is present, by contacting them and giving us the pulse of the youth, he said.

He said that they will be telling us the programs they want to bring, and our future policies will be made according to what the youth will tell us.

He said that Pakistan's First National Youth Policy is being prepared right now and on the 26 January they are all coming together in Islamabad. Those 100 boys and girls from all over Pakistan who have become the face of the National Youth Council on the basis of merit and their abilities while 13 boys and girls from all over the world, so all of them will gather at Islamabad.

He said that for the first time, Pakistan has got the chairpersonship of the Commonwealth Youth Ministerial Task Force and now Pakistan is representing 56 countries.

Rana Mashhood said that we have also opened the doors of Pakistan by the grace of Allah for the Commonwealth countries, whether it is youth, youth exchange, the IT industry, trade, climate change or it is sports. In every event, we are providing a platform to the Pakistani boys and girls, to the youth of Pakistan and this is the beginning.

He said that foreign investment has started in Pakistan after seven years and the policies that Shehbaz Sharif, he said, who talked about the Charter of Economy, who worked on the revival of the economy, we will have started seeing its fruits today.

He said that today, he is here with the Prime Minister Youth Program's coordinators, who are also here and our representatives, who are the core team of the Prime Minister Youth Program, are also here.

Rana Mashhood said that he congratulates the senior leader of PML-N Nehal Hashmi, who was also in attendance. He said Hafiz Siddique is leading our youth in Sindh and we are now taking the Prime Minister Youth Program and its initiatives beyond the provincial level.

He said that we are creating and improving the opportunities that are emerging in Pakistan outside the country in terms of employment and we have brought them here.

He said that we are also working on in and outside Pakistan on the scholarships that are outside the world and we are also working on providing the best facilities to our sons and daughters by forming a team.

Similarly, he said that our big project, in which we believe that we can get dividends immediately, is the entire team of Commonwealth, is coming to Pakistan. We are working with them on AI, in collaboration with Intel and Commonwealth, he said.

He said that we are further following the Green Youth Movement at the level of every university. Together with NDMA, we are going to sign an MoU on driving climate change resilience, he said.

Rana Mashhood said that today youth is working with unity, and commitment and it is our duty to give them a platform on which they can build their lives, as well as contribute to the prosperity of their areas.

He said that no one can stop the development and prosperity of Pakistan and this is the vision of the Prime Minister's Youth Program. This is the commitment of PM Shehbaz Sharif, and by the grace of Allah, we will deliver it.

Karachi: Sindh Minister for Energy, Development and Planning Syed Nasir Hussain Shah has said that the Sindh government is ranked sixth in the entire region with very good performance in public-private partnership.

He expressed these views while addressing the closing ceremony of the Sindh Livestock Expo.

He congratulated the Livestock Department for organizing such a big expo.

He said that after visiting the Livestock Expo, it was realized that such a large number of people came and more than one million people saw the livestock exhibition in three days.

He added that during this expo, farmers, breeders and investors got an opportunity to meet each other and work together in this sector.

He said that there are government farms and land where private farmers can be given under public-private partnership to promote the growth of local breeding breeds.

Speaking on the occasion, Provincial Education Minister Syed Sardar Ali Shah said that it was an old wish that there should be a grand livestock expo in Sindh.

He said that when he had the culture department, he wished that a joint expo of culture, livestock and agriculture could be held.

He said that when Pakistan was formed in 1947, the country was 65 percent dependent on crops and 35 percent on livestock, and today the story has reversed, livestock has come to 65 percent and agriculture has come to 35 percent.

Education Minister Sardar Shah said that more than a million people have come to this expo to see animals and birds.

He added that 20 years ago there was no rooftop farming, now people are coming here and raising sheep and goats on the roofs of their houses, there should be a two-way policy between commercial and indigenous breeding.

He said that whatever breed is brought from outside, it should be clear with whom it will be crossed, the Red Sindhi cow breed has been with us for 6,000 years, but it has been saved by private breeders.

He said that to save the local breed, breeders should give the government farm to public-private partnership. Whatever breed has been saved has been saved by private breeders, not by the government farm.

He congratulated Provincial Minister for Livestock Muhammad Ali Malkani and

expressed hope that now this expo should be held permanently in Karachi.

On this occasion, Provincial Minister for Livestock Muhammad Ali Malkani said in his speech that he is grateful to Sardar Shah and Nasir Shah for coming and encouraging him.

He said that he quests Nasir Shah Sahib to bring the Livestock Department up in the priority list and approve new projects in this sector in Planning and Development.

The Livestock Department has informed the people of Karachi that there are hundreds of opportunities to invest in this sector in the form of an expo.

He added that we brought farmers from remote areas of Sindh here and provided them with all the facilities for the three days so that they could exhibit their indigenous and rare animals that needed breeding and reproduction.

Karachi: The Consul General of Islamic Republic of Iran Hassan Nourian hosted a luncheon in honour of Speaker Sindh Assembly Syed Awais Qadir Shah at the Consulate General of Iran in Karachi. The occasion was graced by a four-member delegation from the Iranian Parliament's Cultural Commission, who are on an official visit to Karachi. Speaker Syed Awais Qadir Shah was accompanied by Deputy Speaker Anthony Naveed, Member National Assembly, Mirza Ikhtiyar Baig and General Secretary PPP Sindh Waqar Mehdi. During the gathering, discussions centered on the mutual cooperation and strengthening of relations between Iran and Pakistan. Speaker Syed Awais Qadir Shah emphasized the enduring friendship shared by the two neighboring nations. 'Iran and Pakistan share a strong and friendly relationship as neighbors. It is essential for both countries to maintain and enhance these ties for mutual progress, peace, security, and stability." Shah added. The discourse also focused into the challenges facing the global Musli m fraternity and the shared responsibilities of both nations in working towards sustainable solutions for unity and security. Speaker Syed Awais Qadir Shah extended his gratitude to Consul General Hassan Nourian for the gracious invitation and the warm hospitality. Consul General thanked the Speaker Provincial Assembly and the delegation for their time and also presented a shield to the Speaker. The Speaker also invited the Consul General and Iranian delegation to visit the historic Sindh Assembly and attend a session of the provincial legislature, further strengthening bilateral ties and cultural understanding. This meeting marked a reaffirmation of the enduring partnership between Iran and Pakistan, reflecting a shared commitment to regional cooperation and unity.

Karachi: Sindh Chief Minister Syed Murad Ali Shah has inaugurated 3- day Livestock Expo-2025 here at Expo Centre on Friday.

The three-day Livestock Expo 2025 (from Jan 17 to 19) is being organised by the Livestock and Fisheries Department in collaboration with the Agriculture Department, Sports and Youth Affairs Department, Culture, Tourism and Antiquities Department, KMC, and the Commissioner of Karachi.

The event was attended by Minister for Livestock and Fisheries Mohammad Ali Malkani (the host), Minister of Culture Zulfiqar Shah, provincial ministers from the Balochistan government, MPAs, diplomats, Secretary of Livestock Kazim Jatoi, director generals of various departments, and other officials.

Speaking at the inauguration ceremony of the Livestock Expo, the CM highlighted the opportunities available in agriculture, livestock, and fisheries, which possess immense potential for growth and innovation.

The Chief Minister emphasised the significance of the livestock sector in boosting the province's economy and enhancing food security. He stated that numerous opportunities in agriculture, livestock, and fisheries possess immense potential for growth and innovation. He urged the private sector to invest in the livestock and fisheries sectors to achieve substantial returns and enhance the national economy.

Shah stressed the necessity of increasing exports to fortify the country's foreign exchange reserves.

Murad Shah announced initiatives aimed at improving infrastructure, enhancing animal health, increasing yields, and introducing innovative farming methods. He noted that his government's vision focuses on empowering rural communities, bolstering farmers' livelihoods, and driving sustainable growth in the agriculture and livestock sectors.

He acknowledged that despite its potential, the sector continues to face challenges such as limited resources, outdated practices, and inadequate access to modern technology. However, the Sindh Government, in collaboration with international banks, businesses, and institutions, is committed to addressing these challenges. 'Previously, vaccines were imported, but now we have commenced local production, which is a significant achievement,' he remarked.

Murad Ali Shah also addressed the current economic challenges, urging collective efforts to overcome them. 'If we unite, we can surmount the issues posed by IMF programmes. Our collective goal must be the progress of Pakistan,' he added.

Karachi: The State Bank of Pakistan (SBP), Friday, injected Rs10,377.75 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operations (OMO).

The SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on January 17, 2025 for 7-day and

28-day tenors and, as per results issued, accepted an amount of Rs9,941.25 billion offered through 29 bids.

The central bank received 28 bids for 7-day tenor cumulatively offering an amount of Rs9,933.25 billion at the rate of return ranging between 13.04 to 13.10 percent while one bid was received for the 28-day tenor offering an amount of Rs8 billion at 13.07% rate of return.

The central bank accepted the entire amount offered through all the 28 quotes for 7-day tenor at 13.04% rate of return.

The SBP also accepted the single bid for 28-day tenor with entire amount offered at 13.07% rate of return.

Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 7-day and 28-day tenors and injected Rs436.5 billion into the market.

The central bank received 5 bids for 7-day tenor quoting an amount of Rs436.5 billion at the rate of return ranging between 13.08 to 13.12 % while no bid was received for 28-day tenor. The SBP accepted all the 5 quotes for 7-day tenor with the entire offered amount at 13.08% rate of return.

Karachi: The Pakistan's external Current Account Balance recorded a surplus of $ 1.21 billion during the first half of fiscal year 2024-25 as compared to a deficit of $ 1.397 billion during the same period last year.

The Current Account for the month of December 2024 also recorded a surplus of $ 582 million as compared to $ 279 million surplus of the same month in previous year, the State Bank of Pakistan reported on Friday.

The positive trend in current account balance has continued for the fifth consecutive month in December 2024 taking the overall current account surplus for the period of July to December 2024-25 to $1.21 billion, the SBP data depicted.

The External Current Account recorded a surplus of $582 million in December, $ 684 million in November, $349 million in October, $86 million in September and $29 million in the month of August 2024.

According to SBP figures, the cumulative balance in trade of goods in the first half of current fiscal year 2024-25 (H1FY25) has recorded a deficit of $11.514 billion as compared to $10.229 billion deficit of H1FY24. The balance on trade in goods in December 2024 was recorded as $ 1.725 billion against the deficit of $ 1.355 billion in November 2024 and $1.391 billion in December 2024, the data shown.

Balance on trade of services in July-December FY24-25 has recorded a deficit of $1.589 billion against the $1.361 billion deficit during H1FY24, the data shown adding that the services' trade deficit was recorded as $ 218 million in December 2024 as compared to $ 200 million during November 2024 and $ 101 million during December 2023.

The overall trade deficit in both goods and services was recorded as $13.103 billion during the first half of the current fiscal year in comparison to the deficit of $11.59 billion in H1FY24.

Meanwhile, the balance on primary income recorded a deficit of $4.507 billion during July-December 2024-25 against a deficit of $4.054 billion of the corresponding period of the last fiscal year, the SBP data stated and added that, Balance on Secondary Income during Jul-Dec 24-25 was recorded as $18.82 billion against $14.247 billion in H1FY24.