Credit : Independent News Pakistan-INP

Credit : Independent News Pakistan-INP

Experts from the Sino-Pakistan Cooperation Center for Traditional Chinese Medicine, the organizer of the event, told China Economic Net (CEN) about the latest developments in the space breeding of 7 Pakistani medicinal plants, a project undertaken by the center in collaboration with bilateral stakeholders.  After the plant seeds successfully returned to Pakistan from China’s spacecraft Shenzhou 14, three varieties sprouted and are in good condition. Researchers will continue to record the information such as plant height, stem width, and crown width for composition and efficacy analysis, CEN reporter was told. The center has also set up an international mentors’ team to train TCM professionals in Pakistan and cultivate Ph.Ds and post-docs. At the symposium, Dr. Azra Fazal Pechuho, Sindh Provincial Minister Health and Population Welfare, Department of Health & Population Welfare was presented with the appointment letter of Visiting Professor of the School of Pharmacy, Hunan University of Chinese Medicine, a host of the meeting.

Two books, namely Zhongjing Spirit and Huxiang Culture, a book on the spirit and culture of traditional Chinese medicine, and Materia Medica Homologous with Food, were officially released and gifted to Pakistani guests at the event. Scholars also exchanged academic ideas regarding the clinical application and basic research of traditional Chinese medicine and Unani medicine, such as international laws and regulations on Chinese (herbal) medicine, drug discovery combining ethnic medicine knowledge with modern science, study of medicine resources in the habitats of Dong ethnicity and their natural products, etc. “The symposium is held in the year that marks the tenth anniversary of the Belt and Road Initiative.  Through collaboration on traditional medicine, China and Pakistan will contribute to preserving and promoting the health of mankind”, said Zhang Zaiqi, Secretary of the CPC Committee of Hunan University of Medicine, another host of the event.

Credit: INP Pak-China

He also expressed satisfaction with the pace of the operation. "Under the title 'the maintenance dredging of a navigational channel of Gwadar Port,' the project is expected to complete within 12 months, according to the agreement signed between CHEC and GPA," he added. GPA Director of Marine Operation, Capt Gull Muhammad, explained that the cost of the dredging process depends on many factors, including dollar fluctuation, fuel cost, and labor charges. An official from the China Overseas Port Holding Company (COPHC) said that although no desilting activity had taken place in the last 7 years, the port continues to berth and process mega-vessels, albeit at a reduced frequency, he stated. Another GPA official informed Gwadar Pro, "Initially, we planned to start just one part of the dredging process in two or three phases at Gwadar Port, so around Rs. 1 billion was allocated in the 2022-2023 budget for partial dredging.

Later, we decided to complete all the dredging at once. Hence, the project cost now stands at Rs 4.7 billion," he added. In response to a query, he said that CHEC won the contract for maintenance dredging construction on the forward swing waters and the approach channel of the Gwadar Port Terminal after an official bidding process launched by GPA last year. This will ensure smooth ship movements in the entry channel, which is crucial for the future development of Gwadar Port. CHEC is a subsidiary of China Communications Construction Company (CCCC). It provides infrastructure construction services such as marine engineering, dredging and reclamation, road and bridge construction, railways, airports, and plant construction. CHEC is the world's second-largest dredging company, executing projects across Asia, Africa, and Europe.

Credit: INP Pak-China

The significance of this visit, coinciding with 10 years of CPEC, underscores the commitment of both Pakistan and China to further strengthen the bonds of friendship and cooperation at the people-to-people level, which is the core and foundation of the Pakistan-China strategic ‘all weather’ partnership as ‘Iron Brothers’.  The parliamentarians included Dr. Mahesh Kumar Mallani, Mohsin Dawar, Muhammad Abu-Bakr, Ghous Bux Khan Maher, Dr. Nisar Ahmad Cheema, and Senator Sana Jamali. During their stay in China, the delegation took part in a series of high-level meetings with Senior Officials of China’s Foreign Ministry, the Publicity Department of the Communist Party of China’s Central Committee, plus leading media outlets and top think tanks for first-hand understanding of the developments and phenomenal progress made in poverty alleviation, technology, education, and industry.

The discussions delved into vital matters of mutual interest, charting a course for deeper collaboration in several areas. In the interaction with Chinese counterparts, Senator Mushahid Hussain thanked China for extending timely diplomatic, military, and financial support for the $5.7 billion loans rollover, which helped save Pakistan from default, including support on Kashmir at G-20 and helping Pakistan get out of FATF listing. He assured China that all political parties of Pakistan, whether in government or opposition, strongly believe China is the pillar and pivot of Pakistan’s foreign policy, and CPEC is the guarantor of a better tomorrow for the people of Pakistan.  According to him, the biggest challenge for both Pakistan and China in the changing regional and global scenario when there is talk of a new Cold War and containment, is information warfare, disinformation, and fake news aimed at destabilizing CPEC, undermining Pakistan-China ties and Belt and Road Initiative (BRI).

The tangible results of the Parliamentary Delegation’s visit include the holding of an international conference in Islamabad in the first half of 2024 ‘Understanding China, Pakistan & Regional Changes’ in cooperation with the leading influential think tank, China Institute for Innovation & Developing Strategy (CIIDS), and Pakistan-China Institute; to hold CPEC Media Forum in the last quarter of 2023 and to build closer relations between the cities and provinces of Pakistan and China, with a focus on poverty alleviation, agriculture, education, Traditional Chinese Medicine (TCM), women’s development, culture and tourism, technology and media cooperation.

Credit: INP Pak-China

 
Credit : Independent News Pakistan-INP

 Pakistan has to repay loans of about 25 billion dollars every year for the next three years, for which it was very important for Pakistan to get more loans, he added. The business leader said that after the agreement with IMF, Pakistan will be able to get more cheap loans from other international institutions. He said that the IMF's main conditions include ending electricity subsidies, keeping debt within serviceable limits, keeping the value of the dollar in line with the market, improve governance, increase revenue, end corruption, reform the energy sector and making country resilient to climate change.

Next installment will be possible only after quarterly review of operational progress on these issues. The IMF's conditions indicate fundamental flaws in the country's economy, but these will be extremely difficult to address in the short term. Mian Zahid Hussain said that climate change has also been mentioned in the terms, which will lead to further tightening of environmental laws. Monsoon and flood season has started in the region, India has released water to Pakistan as usual, while last year Pakistan suffered a loss of 30 billion dollars due to floods. On the other hand, the implementation of aid pledges by the international community for Pakistan to deal with the flood damage last year will also be relatively easy after the IMF programme.

 The business leader said that if the quarterly review of the current program was successfully completed, it will be possible to take the next installment from the IMF, without which it was impossible to run the country. Mian Zahid Hussain further said that the current and incoming caretaker governments should take advantage of this opportunity to start the implementation of fundamental otherwise we will have to pay a heavy price for inaction.

Credit : Independent News Pakistan-INP

 The central bank did not offer any reason for the decline of the remittances, but analysts said the government’s effort to keep the dollar at lower than actual rates hit the inflows through banking channels. The government tried to maintain the dollar-rupee parity at Rs220 in the first half of FY23, which proved counterproductive. The USD grossly appreciated in the open market, and resultantly a grey or black market emerged that started offering Rs20 to Rs25 per dollar higher rates, badly hitting remittances, he informed. The business leader said that under pressure from the IMF, the government uncapped the exchange rate on February 26, and the dollar immediately jumped to Rs269.

 With fluctuations in subsequent months, the USD reached Rs299 in the interbank on May 11 but remained in the range of Rs280-290. Atif Ikram Sheikh said that during the entire fiscal year FY23, the country remained under the grip of severe political and economic uncertainties, which practically weakened both the economy and the currency. He informed that the highest remittance inflow was from Saudi Arabia, but it fell by 16.9 percent to $6.445 billion in FY23. In percentage terms, remittances from the UAE witnessed a contraction of 20.5 percent to $4.468 billion.

 Remittances from all important destinations noted a decline except the US, which recorded a slight growth of 0.1 percent to $3.090 billion in FY23. The inflows from the UK dipped 9.7 percent to $4.056 billion, he said. The inflows from Gulf Cooperation Council (GCC) and European Union (EU) countries fell by 12 percent and 7 percent to $3.191 billion and USD 3.12 billion, respectively, during the outgoing fiscal year. Pakistan’s economy has been in free-fall mode for the last many years, bringing untold pressure on the poor masses in the form of unchecked inflation, making it almost impossible for a vast number of people to make ends meet.

 
Credit : Independent News Pakistan-INP

The tour party for UAE, which will be captained by Tim Southee, will have a few changes as they go to England with Finn Allen, Devon Conway, Matt Henry, Glenn Phillips, Adam Milne, Daryl Mitchell and Ish Sodhi joining after their stint in The Hundred. Ashok, Foxcroft, Chad Bowes, Dane Cleaver, Cole McConchie, Henry Shipley and Will Young will be replaced by the incoming players, but the seven players will also travel to England for two warm-up T20 games ahead of the main series. "Dean’s been a really consistent performer domestically and that was acknowledged by the awards he picked up in March," New Zealand men's coach Gary Stead acknowledged.

"He’s a talented and adaptable batter who also bowls useful off-spin - so will add to our spinning stocks which is always valued in white-ball cricket. In Sodhi's absence in UAE, Ashok is expected to play a vital role. "Adi’s only in his second year of professional cricket, but we’ve been impressed with his consistency and attitude with the Aces and when he’s joined New Zealand A and the winter camps," Stead said. "With Ish Sodhi not on the UAE tour it’s an opportunity to develop our next leg-spinner." Jamieson's return is great news for the Blackcaps ahead of the ICC Men's Cricket World Cup in India later this year. The tall seamer last played for the Kiwis in June 2022 while his last T20I dates back to March 2021.

"Kyle’s worked really hard and made great progress to be available for this tour and we’re delighted to see him return after such a challenging year," the head coach said. "We’re all aware of his world-class skills and I know he’s really excited to get back with the group." New Zealand T20I squads UAE tour: Tim Southee (c), Adi Ashok, Chad Bowes, Mark Chapman, Dane Cleaver, Lockie Ferguson, Dean Foxcroft, Kyle Jamieson, Cole McConchie, Jimmy Neesham, Rachin Ravindra, Mitchell Santner, Tim Seifert, Henry Shipley, Will Young. England tour: Tim Southee (c), Finn Allen, Mark Chapman, Devon Conway, Lockie Ferguson, Matt Henry, Kyle Jamieson, Adam Milne, Daryl Mitchell, Jimmy Neesham, Glenn Phillips, Rachin Ravindra, Mitchell Santner, Tim Seifert, Ish Sodhi.

 
Credit : Independent News Pakistan-INP

 "We couldn't quite get ourselves up over the line in the white-ball stuff, but overall, I think really proud of the way that the series has unfolded. "I think it's been an amazing spectacle for cricket in general and it's been really cool to be a part of. "I sit here slightly excited and then slightly disappointed at the same time." England counterpart Heather Knight was arguably more buoyant than Healy after the series, with the hosts showing they have closed the considerable gap on the reigning ICC Women's Cricket World Cup and ICC Women's T20 World Cup champions with an impressive display during the white-ball components of the tour.

 "We've had a lot of hurt against this side and it's quite nice to not be doing a down-in-the-dumps interview at the back end of an Ashes series," Knight admitted. "The Ashes was gone the other day and this disappointment all came out then ... I'm just happy and really proud of the team. "I think two series wins against the world champions in both formats is brilliant. "If you told me that at six-nil down I certainly would have bitten your hand off."

It was star all-rounder Natalie Sciver-Brunt that once again shone brightest for England during the Ashes, with the 30-year-old scoring more runs than any other player (404) over the course of the series and chipping in with five wickets with her more than handy medium pace. Sciver-Brunt's stylish knock of 129 helped England prevail in the most lop-sided contest of the series on Tuesday and the England all-rounder was deservedly named Player of the Match for her innings and Player of the Series for her side. Australian counterpart Ashleigh Gardner was adjudged the combined Player of the Series for her 208 runs and 23 wickets and the 26-year-old took home the Peden-Archdale Medal as a result.

 
Credit : Independent News Pakistan-INP

 Babar Azam was dismissed by Jayasuriya for 24 in early session. After his departure, Pakistan lost two quick wickets of Saud Shakeel and Sarfaraz Ahmed. At this point, Salman Ali Agha smashed much-need boundary to help team bag the victory. The victory sees Pakistan join India at the top of the World Test Championship standings with a 100 percent win-percentage after one match apiece in the new cycle.

 Pakistan will be looking to maintain their unbeaten record when the second Test against Sri Lanka commences in Colombo on Monday. Babar's side missed out on qualifying for the recent World Test Championship Final (2021-23), with Australia defeating India in the decider at The Oval last month.

 On day four, Pakistan remained on course for victory in the opening test against Sri Lanka despite a top-order wobble chasing a meagre victory target of 131 at Galle on Wednesday. With the help of Saud Shakeel's double ton in the first innings, Babar Azam's side had been in charge after claiming a handy first-innings lead of 149 in the first match of the two-test series.

 Their spin trio of Noman Ali (3-75), Abrar Ahmed (3-68) and Agha Salman (2-39) further consolidated their position by bowling out Sri Lanka for 279 in their second innings. For the home side, Dhananjaya de Silva followed his first-innings hundred with 82, Nishan Madushka made 52 and Ramesh Mendis contributed 42 before they were all out. Babar was batting on six with opener Imam-ul-Haq on 25 at the other end. Sri Lanka's left-arm spinner Prabath Jayasuriya dismissed Abdullah Shafique and Shan Masood and then ran out nightwatchman Noman Ali to at least prevent it from being a cakewalk for Pakistan.

 
Credit : Independent News Pakistan-INP

 
Credit : Independent News Pakistan-INP

 
Credit : Independent News Pakistan-INP

Ten bodies had been recovered and more than 80 people had been rescued, but it was estimated that at least 225 people lived in the hamlet, the state’s deputy chief minister, Devendra Fadnavis, told the state assembly. Initial reports said about 100 people were feared trapped under the debris and rescue workers were struggling in heavy rain and fog to find survivors nearly 12 hours after the disaster, media reported. “The debris at some of the places is 10 to 29 feet deep,” S B Singh, an official with the National Disaster Response Force, told the Indian Express newspaper.

“It is difficult to bring in heavy machinery to this place. It is a 2.8 km trek to reach the spot and we have to remove the debris manually which is likely to take a lot of time.” A landslide in a nearby village killed more than 80 people two years ago. Some pockets of the district, dotted with old forts and laced with trekking trails, received as much as 400 mm rain in the last 24 hours, according to the weather department. More rain was expected on Thursday but not as heavy, a weather department official said, and a red alert had been issued for the coast of Maharashtra and Gujarat state to the north, which has also been battered by rain this week.

 The rain has closed schools, flooded roads and disrupted transport in both Maharashtra and Gujarat. Flash floods, landslides, and accidents caused by heavy rain have killed more than 100 people in India since the onset of the monsoon season on June 1, mostly in the north which has seen 41 per cent more rain than normal, the India Meteorological Department said. This week, the Yamuna river reached the compound walls of the Taj Mahal for the first time in 45 years, submerging several historical monuments and gardens surrounding the 17th century, white-marble mausoleum. In New Delhi, jammed flood gates and a broken drainage regulator let water from Yamuna flow into the city last week, inundating several areas including around the historic Red Fort, and Rajghat — a memorial dedicated to Mahatma Gandhi.

Credit : Independent News Pakistan-INP

Police Commissioner Andrew Coster said an officer had been injured in the shooting, as well as four members of the public. The gunman has not been formally identified but is believed to be a 24-year-old male who was employed at the construction site where the shooting occurred, Coster said at a news conference.

He was armed with a pump-action shot gun and moved through a building site shooting. After reaching the upper levels he contained himself within an elevator shaft and fired more shots before being found dead a short time later. The gunman was the subject of a sentence of home detention but had an exemption to work at the site. “The individual is known for primarily family violence history. There is nothing to suggest that he has presented a higher-level risk than was indicated by that history,” Coster said.

 
Credit : Independent News Pakistan-INP

Pakistan’s recent $3 billion Stand-By Arrangement (SBA) with the IMF holds the potential to break it free from the boom-and-bust cycle and pave the way for a longer-term Extended Fund Facility (EFF) due to the ongoing fiscal challenges. Talking to WealthPK, Dr. Faiz-ur-Rehman, a fiscal policy expert at the Quaid-I-Azam University, said fiscal imbalances occur when a government struggles to sustain its expenditure based on the projected revenues and existing debt policies. To fund crucial projects, governments often borrow from both domestic and external sources. “However, doubts surrounding a government's ability to generate sufficient revenue for debt repayment can lead the lenders to cease rolling over debt or demand progressively higher interest rates.

This rise in non-development expenditure has become a major contributor to inflation in Pakistan,’’ he explained. The power sector, in particular, has remained a source of serious concern, with circular debt exceeding PKR2.5 trillion. Unfortunately, the previous Extended Fund Facility (EFF) with $2.6 billion remaining undisbursed has been suspended. As part of the new SBA, the utility rates are expected to be raised through various mechanisms, including the annual rebasing exercise, quarterly tariff adjustments, and passing the increased cost of imported fuel on to consumers. According to Dr. Faiz, addressing these fiscal imbalances requires Pakistan to undertake a series of crucial reforms.

To enhance revenue generation, effective tax policies, expanded tax bases, improved tax collection mechanisms, and reduced tax evasion are necessary. Simultaneously, the government aims to exercise control over expenditures by enhancing fiscal discipline, streamlining budgetary processes, and eliminating unnecessary subsidies. “Furthermore, structural reforms also come into focus, particularly in key sectors such as energy, agriculture, and finance. Deregulation, privatization, governance enhancement, and corruption-combating measures are being pursued to improve sectoral efficiency and competitiveness,” he added. He pointed out that encouraging economic growth remains a vital aspect of Pakistan's strategy.

The government plans to create an environment conducive to investment, entrepreneurship, and innovation. Targeted investments in infrastructure, education, and healthcare will further support this objective.He said Pakistan's staff-level agreement with the IMF marks a positive signal for its economic prospects. However, effectively addressing the boom-and-bust cycle and fiscal imbalances necessitates a comprehensive and tailored approach that considers Pakistan's unique circumstances and challenges. By implementing these measures, Pakistan aims to break free from the recurring boom-and-bust pattern, strengthen its fiscal position, and create a stable and sustainable economic environment.

Credit: INP-WealthPk

 
Credit : Independent News Pakistan-INP

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

Credit : Independent News Pakistan-INP

 
Credit : Independent News Pakistan-INP

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

 Monsoon currents from Arabian Sea and Bay of Bengal are penetrating in most parts of the country. A westerly wave is affecting upper parts of the country. Rain-wind/thundershower is expected in Kashmir, Islamabad, Pothohar region including Punjab, northeast and south Balochistan, Khyber Pakhtunkhwa and Sindh on Thursday (today). Heavy falls are also likely at isolated places in Kashmir, northeast Punjab, upper Khyber Pakhtunkhwa and eastern Sindh during the forecast period. Rain with wind/thundershower is expected in Kashmir, Islamabad, Pothohar region including Punjab, northeast and south Balochistan, Khyber Pakhtunkhwa and Sindh on Friday.

Heavy falls are also likely at isolated places in Kashmir, northeast Punjab, Pothohar region, Islamabad, upper Khyber Pakhtunkhwa and eastern Sindh during the forecast period. During last 24 hours rainfall with few heavy falls, occurred in Punjab, Pothohar region, Islamabad, Khyber Pakhtunkhwa, Kashmir, upper and central Sindh, northeastern Balochistan and Gilgit-Baltistan, according to the weather report. Punjab: Maximum rainfall 176mm received in Chakwal 176, Lahore (Tajpura 90, Airport 59, Nishtar Town 55, Upper Mall 51, Lakshmi Chowk 44, Gulberg 32 and Johar Town 30mm), Murree 51, Mandi Bahauddin 43, Rawalpindi (Chaklala 27, Kacheri 17), Bahawalpur (Airport) 17, Attock 16, Islamabad (Golra 16, Airport 13, Bokra 12, Saidpur, Zero point 08). Khyber Pakhtunkhwa: Mardan 36, Malam Jabba 28, Balakot 12, Kakul 07, Kalam 05, Saidu Sharif, Dir 04mm. Kashmir: Muzaffarabad (Airport 63, City 36), Rawalakot 38, Kotli 14, Garhi Dupatta 12mm. Sindh: Chhore 36mm, Islamkot 24, Chhachhro 12mm, Sukkur 13mm. Balochistan: Zhob 18, Barkhan 03, Khuzdar 01mm. Maximum Temperatures: Dalbandin, Nokkundi 46 Celsius, Sibbi and Sukkur 45C.

 
Credit : Independent News Pakistan-INP

چائنا اوورسیز پورٹ ہولڈنگ کمپنی (سی او پی ایچ سی) کے ایک اہلکار نے کہا کہ اگرچہ گزشتہ 7 سالوں میں کوئی ڈیزلٹنگ سرگرمی نہیں ہوئی ہے، لیکن اس کے باوجود اگرچہ کم فریکوئنسی پر بندرگاہ میگا جہازوں کو برتھ اور پروسیس کر رہی ہے ۔ جی پی اے کے ایک اور اہلکار نے گوادر پرو کو بتایا ابتدائی طور پر، ہم نے گوادر پورٹ پر ڈریجنگ کے عمل کا صرف ایک حصہ دو یا تین مرحلوں میں شروع کرنے کا منصوبہ بنایا تھا، اس لیے 2022-23کے بجٹ میں جزوی ڈریجنگ کے لیے تقریباً 1 بلین روپے مختص کیے گئے تھے۔ ہم نے تمام ڈریجنگ کو ایک ساتھ مکمل کرنے کا فیصلہ کیا۔ اس لیے اس منصوبے کی لاگت اب 4.7 بلین روپے ہے۔ ایک سوال کے جواب میں انہوں نے کہا کہ سی ایچ ای سی نے فارورڈ سوئنگ واٹرس اور گوادر پورٹ ٹرمینل کے اپروچ چینل پر مینٹیننس ڈریجنگ کنسٹرکشن کا ٹھیکہ گزشتہ سال جی پی اے کے ذریعے شروع کیے گئے باضابطہ بولی کے عمل کے بعد حاصل کیا۔ اس سے انٹری چینل میں جہازوں کی ہموار نقل و حرکت کو یقینی بنایا جائے گا، جو گوادر پورٹ کی مستقبل کی ترقی کے لیے انتہائی اہم ہے۔ گوادر پرو کے مطابقسی ایچ ای سی چائنا کمیونیکیشن کنسٹرکشن کمپنی (سی سی سی سی ) کا ذیلی ادارہ ہے۔ یہ بنیادی ڈھانچے کی تعمیر کی خدمات فراہم کرتا ہے جیسے میرین انجینئرنگ، ڈریجنگ اور بحالی، سڑک اور پل کی تعمیر، ریلوے، ہوائی اڈے، اور پلانٹ کی تعمیر۔ سی ایچ ای سی دنیا کی دوسری سب سے بڑی ڈریجنگ کمپنی ہے، جو ایشیا، افریقہ اور یورپ میں پراجیکٹس چلا رہی ہے۔

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی