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The top builders guarantee PM economic activity up to Rs1,3 trillion – Pakistan | Instant News


Last updated when July 31, 2020 18:54

PM Imran said increasing construction activities would help wealth and job creation

ISLAMABAD (Dunya News) – Prime Minister Imran Khan on Friday was convinced by 13 of the country’s leading builders to launch various projects over the next 4-5 months that will generate economic activity of up to Rs 1.3 trillion and the addition of 100,000 housing units.

The guarantee was made during the weekly meeting of the National Coordinating Committee for Housing, Construction and Development which was held in Islamabad with Prime Minister Imran Khan in the chair.

In addition to all the Chief Secretaries of leading provincial builders and developers from Karachi, Islamabad and Lahore attended the meeting to represent the country’s Builders and Developers Association.

The prime minister appreciates the Governor of the State Bank for its proactive role in encouraging private banks to provide much needed support to the construction sector.

Ages represent development organizations and developers at the national level and play a key role in private sector construction activities.

The Century Representative said that for the first time in the country’s history, not only NOCs and simplified permits but private banks encouraged builders and developers for construction and credit activities, of course, went to the ruling government and the State Bank. Pakistan (SBP).

The builders and developers assured the prime minister that the current system would help solve their problems quickly and await approval that would allow them to carry out projects worth billions of rupees.

Imran Khan while expressing satisfaction with the trust of the building community reaffirmed the government’s commitment to provide every possible facility for the construction sector.

He observed that big cities functioned as engines of growth and offered great opportunities for builders and developers. He said an increase in construction activities would help wealth and job creation which would enable the country to gain economic stability and reduce its debt burden.

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Accountability is important for overcoming the economic crisis: the governor | Instant News


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‘The fear of being forced to leave Switzerland is increasing’ | Instant News


(MENAFN – Swissinfo) Many immigrants in Switzerland have been devastated by the economic crisis caused by the coronavirus pandemic. The new rules mean that many people are afraid of taking welfare. This is a situation that needs to be changed, said integration expert Francesca Chukwunyere.

This content was published on July 24, 2020 – 09:00 July 24, 2020 – 09:00 Patricia Islas

A journalist at Swiss Radio International, a predecessor to SWI swissinfo.ch, began in 1999. Started as an investigative journalist and TV reporter in Mexico.

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    (id) “The fear of leaving Switzerland is greater”

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    (id) “Fear of having to leave Switzerland to grow”

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    (id) Francesca Chukwunyere: “The fear of leaving Switzerland is getting stronger

In January 2019, the Federal Law on Foreign Citizens and Integration was revised to extend the requirements for granting a residence permit. For example, the social security office is obliged to report the names of people who receive benefits to local immigration officials. Depending on the individual situation, the authorities may decide to hold an annual residence permit or decrease the permanent residence permit, Chukwunyere explained.

The ethnologist is the deputy director of the isa immigration advisory center in Bern.

swissinfo.ch: What is currently the biggest concern among foreigners who come to your organization for advice?

Francesca Chukwunyere: Fall into poverty and fear of having to leave Switzerland as a result. This pandemic highlights and exacerbates the problem that has been raging for some time – the amendment to the Federal Law on Foreign Citizens and Integration means that many people decide not to take welfare because they fear this will put their residence permits at risk.

Francisca Chukwunyere (58) was born in Bern as a German citizen. At the age of 20, he became a Swiss citizen. He has worked on immigration matters for 20 years, also as head of the “isa” advice center for foreigners in Bern, and in 2019 became a member of the Bern city council. swissinfo.ch

swissinfo.ch: Who are you talking about actually?

FC: People employed on relatively insecure requirements. These are the majority of the foreign workforce who are in temporary work arrangements, or so-called “poor workers”. So low-income families are very dependent on two or three incomes to feed their children.

These people felt a double or triple pandemic effect. They are the first to be overused or have their work hours cut. A single mother who is paid hourly as a cashier, for example. Or masons with low wages.

They are migrants who are now afraid of losing their residence permit.

swissinfo.ch: How do they avoid this amid the economic crisis?

FC: Some avoid taking any social benefits, so not only direct income support, but also additional benefits such as discounts on health insurance or support for eligible childcare for low-income people.

This payment can be counted as social welfare in some cantons, although that is not the norm.

This has caused a lot of insecurity among strangers. They don’t want to make mistakes or take any risks because for most of them, maintaining the right to stay is their top priority.

We must not forget that from January 2019, the social security office was required to report the names of people who received social welfare or additional benefits to local immigration officials. And depending on the individual situation, this authority may decide to withhold annual residence permits from foreigners, or replace permanent residence permits with annual permits. Changes to the law even affect foreigners who have lived in Switzerland for more than 15 years.

swissinfo.ch: What can your organization do to alleviate this concern?

FC: We have to explain many times what is permitted by law and what is not. However, we are not always sure of ourselves what is permitted, because this new law gives plenty of space for cities and cantons to maneuver. There are some situations that are not set to the last detail. And the law can be interpreted in various ways.

So far, very few cases have been handled by the Swiss Federal Court. So there is some legal uncertainty for us too. We are not always 100% sure that what we think we understand is valid. The same is true for colleagues at other advisory centers and social service offices.

swissinfo.ch: What will make it clearer?

FC: There will only be clarity when the case comes to court. And this is difficult, because if foreigners bring immigration authorities to court, then he, in a sense, challenges the country that takes him.

We believe that it is very important to suspend the population procedures connected with social welfare and the Foreign Citizenship Law for the time being, until the crisis caused by the pandemic ends.

When poverty and financial assistance hamper integration

In addition to the impact of social welfare on residence permits, Swiss civil law states the following (since 2018): anyone who has received social welfare in the three years immediately before submitting his citizenship or receiving social welfare while submitting his citizenship is being carried out. processed does not meet the required participation standards in economic life, unless social welfare is fully restored (Article.7)

Most of the 26 cantons follow this three-year rule, except for Basel-Country and Thurgau, which has extended it to five years, and Bern, Aargau and Graubünden, which have raised it to 10 years.

Against this background of law, and given the economic crisis caused by the pandemic, federal authorities have advised the territorial immigration authority to consider this extraordinary situation and ensure that those affected are not disadvantaged by the situation.

At the federal level, the parliamentary initiative presented in June aims to amend the Foreign Citizenship and Integration Act to prevent people who have lived in Switzerland for more than 10 years from being forced to leave the country because they are recipients of social welfare.

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    Sindh CM approved two more special economic zones | Instant News


    KARACHI: Sindh Chief Minister Syed Murad Ali Shah has agreed to establish two special economic zones in the province, and has decided to hand over land ownership to the relevant authorities to officially launch the Dhabeji Special Economic Zone near Karachi.

    He agreed to the zone while chairing two meetings on Monday. The meeting was attended by Principal Secretary Mumtaz Shah, Chairperson of Planning & Development M Waseem, Principal Secretary of CM Sajid Jamal Abro, Additional Head Secretary of the Home Usman Chachar, Investment Secretary Najam Shah, Financial Secretary Hassan Naqvi, Secretary of Agriculture Raheem Soomro, Secretary of Agricultural Work Imran Soomro , SEZMC CEO Abdul Azeem Uqaili and others.

    SEZA meeting

    The chief minister, while chairing the 3rd council meeting of the Sindh Special Economic Zone Authority (SEZA), approved two applications in which two special economic zones would be established.

    These zones include Special Economic Service Zones. Services Industries Limited has collaborated to establish a large production facility for manufacturing tires to service progressive demand for the domestic market as well as for exports to other countries. The project cost is estimated at $ 250 million and the targeted production capacity is said to be 2.4 million tires per year.

    It will be erected on 50 hectares of land in SITE Nooriabad, Sindh. The project will export around 85 percent of total production capacity to other countries around the world.

    The chief minister approved the request for the establishment of a Special Economic Service Zone. He was informed of the status of the KEK for Naushahroferoze Industrial Park. An agro-food based industrial park is being developed in the Naushahroferoze district. The purpose of building an industrial park is to outperform agro-based industrialization in the province according to international standards. This zone will meet the needs of trade and industrialization of the country. It will be established on an area of ​​80 hectares.

    The chief minister also supported the application for KEK status for the Bholari Special Economic Zone, which is Pakistan’s first SES private sector located in the Bholari area in Thatta District on the M-9 Toll Road (Karachi-Hyderabad).

    The aim is to promote industrialization in this country, which will make a positive contribution to the strengthening of the Sindh economy. It will be established on an area of ​​282.5 hectares with an investment of more than Rs20 billion.

    DSEZ meeting

    Chairing the meeting in the Dhabeji Special Economic Zone (DSEZ), the chief minister directed the Revenue Council (BoR) to transfer ownership of 1,535 hectares to the zone so that further development work could begin.

    The Sindh government has allocated 1,530 hectares of land under development as the Dhabeji Special Economic Zone (DSEZ) in Thatta near Karachi. The Priority Project under the China-Pakistan Economic Corridor (CPEC) will facilitate potential investors of China and other countries to start new companies or transfer their facilities to Pakistan.

    DSEZ is being developed based on a public-private partnership with an investment of more than $ 50 billion. This project will generate more than 50,000 job opportunities for skilled and unskilled young people.

    The chief minister directs relevant authorities to accelerate work on water supply, infrastructure, and external networks. Various offers have been received from potential developers for the development of the Dhabeji Special Economic Zone and are currently being evaluated.

    The chief minister directs the Council to work on land allotment directly to the NTDC (National Transmission & Despatch Company) and the construction of a grating on the doorstep of the zone. The federal government has approved Rs3.94 billion for the construction of a special network for this SEZ under CPEC.

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    Economic stability of 220 million people is a top priority: Amjad Khan | Instant News


    MIANWALI – Chairperson of the Permanent Defense Committee Amjad Ali Khan said that prosperity, prosperity, the country’s progress and economic stability of 220 million people were the top priorities of Prime Minister (PM) Imran Khan.

    Addressing the so-called meeting to review the ongoing development scheme under the PM Package at the DC Office, he said that the Prime Minister (PM) had placed national interests above political interests by presenting a tax-free budget in such difficult circumstances.

    Amjad said that despite the dire situation caused by the coronavirus pandemic, the government took revolutionary steps and austerity measures by cutting current spending and providing comprehensive assistance packages for eligible classes.

    The chair of the standing committee said that to combat COVID-19, the federal government introduced a historical package of Rs 1240 billion to provide assistance to people affected by the virus and the business community. Deputy Commissioner (DC) Omar Sher Chattha briefed MNA Amjad Ali Khan on ongoing development projects in the road, education, public, health, irrigation, gas and electricity supply sectors in the district.

    MNA Amjad Ali Khan praised the services of medical officers, nurses, paramedical staff, military officers, district administration, police, guards and others who tried their best in the fight against anti-virus efforts.

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    PM Imran Khan directs the economic team to present a balanced budget | Instant News


    ISLAMABAD: The economic team on Friday told Prime Minister Imran Khan about the challenges faced by the Pakistani economy in the COVID-19 scenario and the prime minister directed them to present a balanced budget with a focus on stimulating economic activity from the next fiscal year.

    It was decided that the prime minister would chair a meeting on the overall trajectory of growth, the fiscal situation including FBR performance and expenditure restrictions, the accumulation of the debt situation, the electricity sector and others before the budget so that the next budget could reflect the ruling regime’s thinking.

    “In Friday’s meeting, the adviser to the PM on finance presented his point of view regarding the pre-COVID-19 and post-COVID-19 scenarios and challenges before the prime minister with the aim of informing him where the economy is now” official official source confirm to the News here on Friday.

    Another official said that it was the government’s desire to convince the IMF to reduce the FBR target from Rs5,103 billion to Rs4,900 billion for the next budget, but sources said that nothing in this matter had so far been resolved.

    The business community lobbied to convince the government to distribute more incentive packages in the next budget, but the government was aware that future packages must be linked to their contribution to the growth trajectory.

    The Pakistan Business Council (PBC) stated in a tweet on Friday that the upcoming “COVID Budget” needed to generate demand and support supply to minimize unemployment and the impact on poverty. If the government cannot cut its size, it must again borrow from the SBP. Raising taxes will damage the economy, “PBC said.

    Official sources said that the special budget proposal did not come in the discussion but after the initial advisory statement to the PM about Finance as a whole the prevailing economic situation triggered debate among the participants on different aspects.

    The PM advisor on Finance views that the economy is on a stabilizing path in a pre-COVID-19 situation where the projected GDP growth is more than 3 percent but has dipped to negative 0.38 percent in post-COVID-19 situations in outgoing. fiscal year. Inflation reaching double digits in the pre-COVID-19 scenario has begun to recede before Coronavirus and is projected to decrease further.

    The fiscal deficit is under control and the primary deficit has also been excessive but the fiscal slippage occurred after the outbreak of COVID-19 and now efforts are being made to limit it to around 9.6 percent of GDP.

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    Pakistan’s long-term economic outlook remains positive: Dawood | Instant News


    ISLAMABAD: Adviser to the Prime Minister of Trade and Investment Abdul Razak Dawood on Tuesday said Pakistan’s long-term economic prospects remained positive with infrastructure improvements, western China connectivity in the final stages, and the development of a new deep sea port.

    The adviser said the country had succeeded in overcoming security challenges as well, which coincided with reforms recognized throughout the world.

    Dawood said that with current positive developments and the government’s focus on inviting private investment in key sectors, including information technology and services that allow, among others processing, textiles and logistics, much of Pakistan’s bilateral relations around the world to shift from transactional relations to mutual profitable economic partnership.

    He said during the first 10 months of the current fiscal year (July-April), Pakistan witnessed net foreign direct investment (FDI) of $ 2.281 billion, compared to $ 1,006 billion in the same period FY2018-19, showing an increase of 126.8 percent.

    “This country has quickly gained the attention of investors for various reasons in recent years,” the adviser said when talking to APP.

    The World Bank (WB) recently underlined that global investment is expected to decrease by almost 40 percent in 2020 and 2021 and economic growth in developing countries tends to be the most severe in terms of low FDI due to a pandemic.

    However, according to the latest statistics released by the State Bank of Pakistan, COVID-19’s negative impact on FDI to Pakistan has so far been insignificant, but Pakistan attracted a net FDI of $ 2.281 billion compared to $ 1,006 billion compared to the corresponding period FY2018 -19.

    The World Bank (WB) also projects a 23 percent reduction in remittances to Pakistan, totaling around $ 17 billion in 2020 compared to a total of $ 22.5 billion in 2019 due to the economic crisis caused by the pandemic, and locking up in most cities in overseas.

    However, despite this projection, things can be reversed with carefully crafted strategies and finding opportunities in new fields.

    Prime Minister Imran Khan himself led the reforms to facilitate investors and to ensure the ease of doing business, the adviser said, adding recently that Pakistan announced reforms of the transformational visa by introducing e-visa facilities to most countries.

    Answering the question, he said that because of COVID-19, “we are facing a situation that is truly unprecedented in human history, affecting millions of human life and economic activity”.

    In the past 5 years, net inflows, outflows and FDI to Pakistan have been increasing and decreasing for some time; However, there is no doubt that COVID-19 has slowed business activities throughout the world, including Pakistan.

    The adviser said most of the economy is experiencing a recession, which is evident from the fact that nearly 80 countries have asked the International Monetary Fund to get support.

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    Prime Minister Imran Khan’s construction package to revive economic activity, experts say | Instant News


    LAHORE: Prime Minister Imran Khan’s Construction Incentive Package focuses on tax cuts and incentives in the construction sector with a view to ensuring a rapid revival of economic activity while encouraging investors to invest in cheap housing schemes.

    This view was expressed by participants in a webinar on the PM Construction Incentive Package – an opportunity to increase employment in the country amid the Covid-19 pandemic organized by the Iqbal Institute of Policy Studies.

    The session was attended by experienced experts from various fields of life, including Deputy Chair of the Lahore Development Authority SM Imran, Chair of the Association of Builders and Developers (ABAD) Akber Sheikh, IIPS Presidential Advisory Council Lieutenant General Haroon Aslam (right), Naya, Naya Former Pakistan chairman Zaigham Mahmood, IIPS Chair Shafiq Akbar, Head of the SMEDA (Punjab) Province Javed Afzal and Chair of the Pakistan City Architecture and Planning Board (PCATP) Chair Kaleem Siddiqui. Experts provide their insights on how the construction incentive package will help in shaping the country’s urban structure and the effects of tax breaks and incentives on construction-related activities. They discussed the views of builders and developers on construction packages. The participants demanded the government formulate long-term policies for the real estate sector so that the industry can really help boost economic growth. Sharing thoughts on the country’s economic situation and the role of real estate, LDA deputy chairman Sheikh Muhammad Imran said the prime focus of the PM was on the ease of doing business and LDA working on a mission to empower the private sector by removing barriers to growth. He said that the policy needed to be revised to create a better business environment.

    “Our key stakeholders are urban planners, builders, architects, real estate investors and governments as well and together we work hard to end nepotism and build a better reputation from government institutions where ordinary citizens feel honored and respected. things can be done based on merit without any hassle “, he said.

    Shafiq Akbar said that since the establishment of Pakistan, this is the first time every government has realized the true potential of the real estate sector. Government departments cannot create master plans for all cities because they have limited human and financial resources. This is a great opportunity for private companies to help the government in this regard, he added.

    Former Pakistani Naya chairman Zaigham Mahmood said that energy-efficient housing would create an impact only if it would be applied to the existing building stock in large numbers. There needs to be a policy in this matter that we haven’t compiled yet. “

    IIPS advisory board president Lt. Gen. Haroon Aslam said the role of academics was crucial in making the construction industry successful. Academia can be used as an active feeder for the construction industry to present research-based and innovative solutions to critical problems in various fields. Facilitation in eliminating unnecessary taxes will help create economic stability and change the mindset of private stakeholders positively, he stressed.

    The head of the Punjab SMEDA province Javed Fazal said that supporting the SME sector was the key to achieving economic growth. He highlighted that the main problem of the SME sector is access to finance which is also a major problem of the construction sector. He added that SMEs are a major component of the real estate industry and the government needs to remove barriers that hamper SME growth due to regulatory challenges.

    He hopes that the construction industry development board that has been created under the PM package will play an important role by bringing all stakeholders to their recommendations to improve the business environment and bring more success through the ease of doing business.

    ABAD (North) Chairman Akbar Sheikh said that Imran Khan by giving this incentive package to the construction industry had shifted the burden on the private sector to play its role in growth and the regulatory body had to support the private sector. He said that the construction industry was the second largest after agriculture and contributed around 10-13 percent of total GDP.

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    PM Imran’s construction package to revive economic activity: experts | Instant News


    LAHORE: Prime Minister Imran Khan’s Construction Incentive Package focuses on tax cuts and incentives in the construction sector with a view to ensuring a rapid revival of economic activity while encouraging investors to invest in cheap housing schemes.

    This view was expressed by participants in a webinar on the PM Construction Incentive Package – an opportunity to increase employment in the country amid the Covid-19 pandemic organized by the Iqbal Institute of Policy Studies.

    The session was attended by experienced experts from various fields of life, including Deputy Chair of the Lahore Development Authority SM Imran, Chair of the Association of Builders and Developers (ABAD) Akber Sheikh, IIPS Presidential Advisory Council Lieutenant General Haroon Aslam (right), Naya, Naya Former Pakistan chairman Zaigham Mahmood, IIPS Chair Shafiq Akbar, Head of the SMEDA (Punjab) Province Javed Afzal and Chair of the Pakistan City Architecture and Planning Board (PCATP) Chair Kaleem Siddiqui. Experts provide their insights on how the construction incentive package will help in shaping the country’s urban structure and the effects of tax breaks and incentives on construction-related activities. They discussed the views of builders and developers on construction packages. The participants demanded the government formulate long-term policies for the real estate sector so that the industry can really help boost economic growth. Sharing thoughts on the country’s economic situation and the role of real estate, LDA deputy chairman Sheikh Muhammad Imran said the prime focus of the PM was on the ease of doing business and LDA working on a mission to empower the private sector by removing barriers to growth. He said that the policy needed to be revised to create a better business environment.

    “Our key stakeholders are urban planners, builders, architects, real estate investors and governments as well and together we work hard to end nepotism and build a better reputation from government institutions where ordinary citizens feel honored and respected. things can be done based on merit without any hassle “, he said.

    Shafiq Akbar said that since the establishment of Pakistan, this is the first time every government has realized the true potential of the real estate sector. Government departments cannot create master plans for all cities because they have limited human and financial resources. This is a great opportunity for private companies to help the government in this regard, he added. Former Pakistani Naya chairman Zaigham Mahmood said that energy-efficient housing would only make an impact if it would be applied to the existing building stock in large numbers. There needs to be a policy in this matter that we haven’t compiled yet. “

    IIPS advisory board president Lt. Gen. Haroon Aslam said the role of academics was crucial in making the construction industry successful. Academia can be used as an active feeder for the construction industry to present research-based and innovative solutions to critical problems in various fields. Facilitation in eliminating unnecessary taxes will help create economic stability and change the mindset of private stakeholders positively, he stressed.

    The head of the Punjab SMEDA province Javed Fazal said that supporting the SME sector was the key to achieving economic growth. He highlighted that the main problem of the SME sector is access to finance which is also a major problem of the construction sector. He added that SMEs are a major component of the real estate industry and the government needs to remove barriers that hamper SME growth due to regulatory challenges.

    ABAD (North) Chairman Akbar Sheikh said that Imran Khan by giving this incentive package to the construction industry had shifted the burden on the private sector to play its role in growth and the regulatory body had to support the private sector. He said that the construction industry was the second largest after agriculture and contributed around 10-13 percent of total GDP.

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    CM Mahmood Khan wants to immediately make a breakthrough in the Rashakai Economic Zone | Instant News


    PESHAWAR: CM Mahmood Khan has directed relevant officials to complete all arrangements for laying the first stone formally in the Rashakai Economic Zone.

    He chaired a meeting held here on Friday to review the progress of Rashakai and Hattar Economic Zone projects, an official leaflet said. In addition to the provincial Minister Akbar Ayub and CM Special Assistant for Industry, Abdul Karim Khan, Secretary of Planning & Development, Industry Secretary, chief executive officer of Khyber Pakhtunkhwa Development and Management of the Company’s Economic Zone and Investment and Trade Council Khyber Pakhtunkhwa; and other relevant officials attended the meeting. Participants were briefed on the progress made so far in the two economic zones as well as obstacles to progress in several areas.

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