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PM Imran directs no additional burden on home loan borrowers – Pakistan | Instant News


Published in November 26, 2020 18:56

PM Imran directs that there is no additional burden on home loan borrowers

ISLAMABAD (Dunya News) – Prime Minister Imran Khan has directed that no additional burden should be placed on those who intend to secure easy installment loans for the construction of their homes under the Pakistan Naya Housing Scheme.

He chairs the weekly meeting of the National Coordinating Committee for Housing, Construction and Development in Islamabad on Thursday.

Imran Khan has directed to simplify the NOC procedure and approval process for the supply of new electrical connections.

The Prime Minister said currently, there was no shortage of electricity in the country and therefore, there was no reason to delay the provision of new connections.

He said the government aims to provide shelter for the community, therefore simple facilities and procedures must be ensured.

The Prime Minister explained that because the current procedure created difficulties for the construction sector, the lengthy approval process for utility connections had to be simplified.

Describing a meeting on the Pakistan Quarters housing project, which is underway, in Karachi, the Secretary for Housing and Works said 600 apartments will be built under the project.

On this occasion, the Prime Minister was directed to provide facilities to Pakistani citizens abroad, who intend to invest in Pakistan.

From the meeting it was informed that an online mechanism was being formulated for the NOCs needed to obtain new gas connections.

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PM Imran directs no additional burden on home loan borrowers – Pakistan | Instant News


Published in November 26, 2020 18:56

PM Imran directs that there is no additional burden on home loan borrowers

ISLAMABAD (Dunya News) – Prime Minister Imran Khan has directed that no additional burden should be placed on those who intend to secure easy installment loans for the construction of their homes under the Pakistan Naya Housing Scheme.

He chairs the weekly meeting of the National Coordinating Committee for Housing, Construction and Development in Islamabad on Thursday.

Imran Khan has directed to simplify the NOC procedure and approval process for the supply of new electrical connections.

The Prime Minister said currently, there was no shortage of electricity in the country and therefore, there was no reason to delay the provision of new connections.

He said the government aims to provide shelter for the community, therefore simple facilities and procedures must be ensured.

The Prime Minister explained that because the current procedure created difficulties for the construction sector, the lengthy approval process for utility connections had to be simplified.

Describing a meeting on the Pakistan Quarters housing project, which is underway, in Karachi, the Secretary for Housing and Works said 600 apartments will be built under the project.

On this occasion, the Prime Minister was directed to provide facilities to Pakistani citizens abroad, who intend to invest in Pakistan.

From the meeting it was informed that an online mechanism was being formulated for the NOCs needed to obtain new gas connections.

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New Zealand Prime Minister Ardern will declare a climate emergency | Instant News


New Zealand’s Prime Minister Jacinda Ardern’s government declared a climate emergency as a symbolic move to increase pressure for action to fight global warming.

The government will submit a motion to declare a state of emergency next Wednesday, the government said as parliament regrouped after elections won by Ardern’s party.

“We have always viewed climate change as a major threat to our region, and it is something we must act on immediately,” Ardern said, according to broadcaster TVNZ.

“Unfortunately, we were unable to make a motion around the climate emergency in parliament in our last term, but now we can.”

Ardern returned to power last month handing her the biggest electoral win for her center-left Labor Party in half a century when voters rewarded her for a resolute response to the new coronavirus.

The resounding victory allowed Ardern’s party to govern itself even though he had joined the Greens for another three-year term.

Newly elected lawmakers were sworn in on Tuesday and return to work Wednesday in New Zealand’s most diverse parliament. It has several people of color, members of the rainbow community and a large number of women.

In his last term, Ardern’s government passed the Zero Carbon Bill, which establishes a net zero emissions framework by 2050, with cross-party support in parliament.

If the climate emergency is passed, New Zealand will join countries such as Canada, France and the UK that have taken the same path to focus efforts on tackling climate change.

Last week, Japanese lawmakers declared a climate emergency and committed to a definite timetable for net zero emissions.

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The government is trying to promote a healthy lifestyle among the masses: Zulfi Bukhari – Pakistan | Instant News


Published in November 25, 2020 5:48

Govt pursues a healthy lifestyle among the masses: Zulfi Bukhari

ISLAMABAD (Dunya News) – Special Assistant to the Prime Minister (SAPM) for Pakistanis Abroad and Human Resources Development Syed Zulfikar Abbas Bukhari said that the government is trying to promote a healthy lifestyle among the masses, especially young people through the promotion of sports and games in all over the country. .

Speaking at the inauguration ceremony for the ‘Global Active Cities’ project, launched by the Rawalpindi district administration, he said Prime Minister Imran Khan attaches great importance to the promotion of a healthy lifestyle in the country through games and sports.

Division captain (Ret.) Commissioner Rawalpindi (Ret.) Muhammad Mahmood congratulated the project launch, he said the officer had set an example for the whole country by taking this initiative,

added “It is an honor for the country that the three districts of Rawalpindi Division have become part of an international framework in which sport and a healthy lifestyle will be promoted in society.”

He said sports will be promoted in the Rawalpindi division under the Global Active Cities project and people will be encouraged towards healthy living. “Our religion also teaches us to live healthy.

Obesity, overeating and lethargy are bad habits that have no place in our religion, ”he stressed.

Former test cricketer and fast bowler Shoaib Akhtar said Captain (ret.) Muhammad Mahmood was an officer who admired sports and a healthy lifestyle, adding that he was Rawalpindi’s first commissioner to invite him to the commissioner’s office for physical exercise.

He said he used to walk from Dhok Kala Khan to Kachehri Chowk, apart from riding the bike on the same route for physical fitness.

Commissioner Rawalpindi said that with the help of the Global Active Project, they wanted to introduce a culture that could promote a healthy lifestyle in the community.

He said that there are many playgrounds in Rawalpindi and will be further upgraded and equipped with more facilities under this project.

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Brazil faces a $ 112 billion refinancing gap in early 2021 | Instant News


BRASILIA, Nov 24 (Reuters) – Brazil’s debt has swelled to unprecedented levels due to the COVID-19 pandemic and the government faces a $ 112 billion refinancing gap early next year, with April funding needs the highest for a month.

Publicly, at least, Treasury officials in Latin America’s top economies insist there will be no problems getting investors to lend to them. The so-called liquidity cushion can cover at least three months of the loan.

In addition, nearly all of Brazil’s debt is denominated in reais and more than 90% of it is held by domestic investors, many of whom are forced to hold it by banking regulations.

Financial analysts also see little risk of a boycott by lenders, which is likely to trigger a serious crisis and wreak havoc on Brazilian financial markets.

But the likelihood that the Ministry of Finance may have difficulty repaying debts, due to sudden unfavorable political, economic or market conditions, is not zero. And it will likely pay a premium to shift so much debt at once, analysts say.

According to Treasury Department figures, about 605 billion reais ($ 112 billion) of domestic federal debt is due in the first four months of next year. That’s 14.1% of Brazil’s 4.82 trillion reais pile of domestic debt.

The month to watch is April, when the 283 billion reais of debt will need to be extended. That is 6.6% of Brazil’s debt and will be the largest single month of maturity debt on record, according to the Ministry of Finance.

“It’s a huge number, and if people want to reduce their exposure a little bit for whatever reason, that’s a significant amount,” said Sergi Lanau, deputy chief economist at the Washington-based Institute of International Finance (IIF).

“It’s not a good situation, but it would be much worse if it was foreign debt. We are not too worried about the pile maturing. If something goes wrong at that point, then you will be exposed,” he said. the word.

The IIF analysis shows that the government’s domestic debt maturing in April amounts to 3.7% of GDP, also an all-time high for a month.

Economy Minister Paulo Guedes said he saw “no problem” for the Ministry of Finance to reimburse the debt. About half of the 600 billion reais due early next year may already be covered by cash inflows from central banks and public sector banks, he said.

STEP CURVE

The government’s surprisingly aggressive fiscal response to the pandemic, particularly through direct income transfers to the poor, has driven its deficits and debt to records that are far above most other developing economies.

Brazil’s main deficit, excluding interest payments, is estimated at nearly 12% of GDP this year, with overall debt rising to around 95% of GDP, according to the government.

That has forced the Treasury Department to borrow more, more and more in short dated paper because it’s cheaper and as growing concerns around the fiscal outlook mean investors are reluctant to lend to the government long-term loans.

While reducing average debt maturity lengths and record low official interest rates have brought average interest costs down to a record low, the so-called “roll over risk” for the Treasury has increased sharply.

“The problem is if we can’t sell any bonds. But we don’t have to worry too much, there’s money in the system,” said an interest rates specialist at a hedge fund in Sao Paulo.

“The treasury won’t run out of cash: that’s not the case. But it will continue to pay higher interest rates and see a steeper curve,” he said.

The difference between long-term and short-term interest rates has widened sharply. Before the pandemic, the difference between the January 2022 and January 2027 futures rates was 180 basis points or less. That tripled to 460 basis points in September, and is now creeping back to that all-time peak.

The Treasury has failed to sell the full allocation of bonds offered at several auctions in recent weeks, both the fixed rate ‘LTN’ note and the floating rate ‘LTF’ note linked to the central bank’s official Selic rate.

To attract buyers, the Ministry of Finance has to pay a higher premium. It also relies on other sources of financing, including a recent transfer of 325 billion reais from the central bank.

Waldery Rodrigues, special secretary of the economy ministry, said last week that a central bank selling part of its foreign currency reserves to pay debt is “on the menu” for next year, although the decision rests with the central bank.

($ 1 = 5.40 reais)

(Reporting by Jamie McGeever; Editing by Tom Brown)

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