Daily Balochistan Times

Islamabad: Federal Minister for Commerce, Jam Kamal, arrived in Baghdad on Monday to lead the Pakistani delegation at the 9th Joint Ministerial Commission (JMC) session, marking a significant step in strengthening bilateral relations between Pakistan and Iraq.

This session is the first to take place since the previous JMC meeting held in Islamabad in 2001, said a press release issued here.

Upon his arrival at Baghdad International Airport, Jam Kamal was warmly received by Iraq's Minister for Housing and Construction, Bangen Rekani.

Dr. Kazim Niaz, Secretary, Ministry of Economic Affairs; Muhammad Zeeshan Ahmed, Ambassador of Pakistan to Iraq; and officials of the Pakistan Embassy to Iraq, were also present to welcome the distinguished guest.

In a brief meeting held at the airport, both ministers discussed a range of topics of mutual interest, including enhancing trade ties, boosting economic cooperation, and fostering closer collaboration in key sectors. Both sides expressed optimism about revitalizing bilateral engagements and addressing shared challenges.

The 9th JMC session, scheduled during Jam Kamal's visit, is expected to open new avenues for economic collaboration and further solidify the longstanding friendship between the two nations.

This visit underscores Pakistan's commitment to fostering stronger ties with Iraq in various domains, including trade, infrastructure, and regional development. The historic nature of the JMC session highlights the mutual determination of both countries to deepen their partnership after a hiatus of over two decades.

Islamabad: In the twin cities, the price of chicken increased by Rs 79 rupees per kg in the last two weeks, and the price of poultry chicken increased to Rs 412 rupees per kilo.

The last month until December 24, chicken was sold at Rs 333 rupees per kg, which was less than the previous month's price hike in poultry prices in the retail market.

The poultry consumables, chicken and eggs prices have been reduced for the past few weeks, and are once again out of reach of the public.

The prices of poultry items have increased by 23.72 percent in the twin cities of Islamabad and Rawalpindi during the last two weeks, which has created huge volatility in the market.

According to the market survey conducted by media here Monday, during past two weeks in the twin cities, a 23.72 percent increase was witnessed in the price of chicken, while a same 26 per cent increase in the price of poultry eggs in the last seven weeks.

According to the survey, the price of live chicken in the twin cities was between Rs 400 and 412 per kg from the last week of this month of January 2025. Similarly, chicken meat is sold at Rs 600 to 610 per kg in the market of both cities.

During this time, it was also found that poultry eggs used to be sold at Rs 300 to Rs 210 per dozen in the market of both cities.

Meanwhile, talking to reporter, the farmer Chairman Pakistan Poultry Association (PPA), Chaudhry, Muhammad Ashraf said the increase in the current prices of poultry is due to demand and supply issues.

PPA ex. Chairman said that the increase in poultry business inputs and cost of doing business was seen across the country due to which the market was in crisis.

He said that many people related to the chicken business in the country were affected by the current crisis and especially small businesses and poultry farms were closed, adding the poultry business in the four provinces including Punjab, Sindh, Balochistan and Khyber Pakhtunkhwa is suffering from the current economic crisis.

Chaudhry Ashraf said that the country's economic conditions are also an important issue and the poultry feed ingredients imported from foreign countries are very expensive, in which soybean is important.

He said that many soybean ships have stopped at Karachi port, which has an inevitable impact on poultry prices.

Pakistan Poultry Association (PPA) has also called for a further increase in the prices of chicken and there was an increase observed in the prices of poultry items in the twin cities of Islamabad and Rawalpindi.

Islamabad: Prime Minister Muhammad Shehbaz Sharif on Monday said that after functioning in Karachi, the faceless assessment system should be broadened and implemented in other cities as soon as possible, so that all imports across the country could benefit from this system.

The prime minister chaired a review meeting on the matters related to the Federal Board of Revenue (FBR).

The meeting was attended by Minister for Economic Affairs Ahad Khan Cheema, Minister for Law and Justice Azam Nazeer Tarar, Minister of State for Finance and Revenue Ali Pervez Malik, and other senior officials, Prime Minister Office Media Wing said in a press release.

The prime minister observed that significant progress had been achieved in the digitization and reforms within the FBR in previous months, adding for the first time in history, a system with a faceless digitization system had been introduced in the customs process, marking a significant milestone in the digitization of the FBR.

The prime minister directed the Ministry of Information Technology and Telecommunication and FBR to work together to further improve the faceless customs assessment system.

He desired that the system should be shifted to artificial intelligence by minimizing human intervention. He also directed the development of a comprehensive strategy for the implementation of the track and trace system in various industrial sectors.

The meeting was briefed on the recent FBR reforms. The faceless customs system at all Karachi port terminals would be made fully operational by the end of February 2025, it was told.

Besides, efforts were underway to ensure its operation nationwide soon. A central control room was being established to monitor the faceless customs system, it was further added.

The meeting was apprised that body cameras and tablets would be used to make the inspection recording system more transparent. Whereas mobile signal jammers and CCTV cameras were also being installed at all terminals to enhance the transparency of the inspection system.

A transparent recruitment process for the new customs system had been initiated while a track and trace system had been implemented in all industrial units of the tobacco, fertilizers, sugar, and cement industries, the meeting was briefed.

The implementation of the track and trace system led to a significant increase in revenue from the tobacco, sugar, cement, and fertilizer industries in the fiscal year 2023-2024 compared to the previous corresponding year. Further improvement in revenue from these industries was expected with the full implementation of the track and trace system this year, it was added.

The meeting was told that under the prime minister's directive, the upgradation of the web-based One Customs began and its design was expected to be completed by the end of March.

Islamabad: Chairman of Pakistan Textile Council, Fawad Anwar on Monday issued an urgent appeal to the Federal Minister for Finance and Revenue, Muhammad Aurangzeb, emphasizing the critical need for immediate policy intervention to prevent for the revival of Pakistan's textile industry.

In a letter addressed by the Chairman of PTC, Fawad Anwar, the Council highlighted the severe financial strain faced by the textile sector, which contributes nearly 60% of Pakistan's export earnings and employs over 15 million people, said in a statements issued here.

'We believe a calibrated policy approach which can safeguard Pakistan's textile sector from irreversible damage while still aligning with the country's macroeconomic goals,' Fawad Anwar, Chairman of Pakistan Textile Council said.

He said that despite the positive impact of structural reforms under the IMF program, their implementation has resulted in unsustainable financial challenges for the textile industry, requiring immediate policy recalibration.

Key Concerns Raised by PTC is crippling energy Costs and industrial electricity tariffs have reached 16-18 cents/kWh, nearly double the rates in Vietnam, Bangladesh, India, and China, he said.

Chairman PTC said that as prices for captive power have surged above $13-14/MMBtu compared to $5-8/MMBtu in regional economies, with additional capacity charges and surcharges further inflating costs.

He said the working capital rates have jumped from 2% to approximately 14%. And recent IMF-driven tax policies, including minimum turnover taxes and super taxes, have increased effective tax rates to over 50%, significantly impacting profitability in this low-margin, high-volume industry.

The investment in industrial re -investments, crucial for sector survival, has become difficult due to soaring short-term interest rates, he said.

PTC also warned that the continued financial stress could result in the closure of textile mills, sparking mass unemployment, civil unrest, and long-term economic instability.

He said that giving recommendations for Sustainable Sector Stability and urged the government to adopt a balanced and calibrated approach that ensures economic stability without compromising the long-term viability of Pakistan's key foreign exchange-generating industries. Key recommendations include:

Balancing proposed reforms with global competitiveness considerations for export sectors and gradually phasing out subsidies while enhancing public infrastructure for sustainable energy pricing, he said.

He proposed reducing capacity charges by negotiating lower tariffs with power producers, especially for imported fuel-based plants and revisiting levies on captive power and ensuring regionally competitive gas rates for industrial use.

He proposed implementing a more balanced taxation framework that ensures industry viability and retains critical foreign exchange inflows.

The Pakistan Textile Council remains committed to working collaboratively with the government to ensure sustainable growth for Pakistan's textile industry, which is vital for the nation's economic stability and long-term prosperity.