Latest news with #Rs4.2
Business Recorder
13-06-2025
- Business
- Business Recorder
Development outlay soars 50pc to Rs4.2trn in 2 years: minister
ISLAMABAD: Federal Minster for Planning, Development and Special Initiatives Ahsan Iqbal said that Pakistan's national development outlay has increased by 50 percent, Rs2.832 trillion to Rs4.2 trillion, in two years. 'The national development outlay has escalated due to increasing tax collection revenue. The provinces receive a 60 percent share in the collected revenue, which has led to a rise in their annual development plans. Our five-year plan envisaged allocation of Rs4.2 trillion for the development budget in the fifth year, but this target has been achieved in the second year, describing it as encouraging,' the minister expressed these views while addressing a news conference on Thursday. Budget FY26: APCC proposes historic Rs4.083trn outlay He said that government could increase fiscal space by increasing export and to improve tax collection. He said that 29 percent tax collection has been increased due to making structural reforms by the Federal Board of Revenue (FBR). The minister said that inflation has been reduced from 38 percent to four percent. He said that policy rate has been reduced from 23 percent to 11 percent. 'The government controlled economic losses due to taking better financial measures and discipline. The international departments are also recognising the better economic discipline of the government,' he said. He said that the government wants to increase the tax-to-GDP ratio from 16 percent to 18 percent. Highlighting the priorities,the minister said that it has been decided to put Balochistan on the path of accelerated development. He said that Rs230 billion have been earmarked in the development budget for projects in Balochistan with the aim to improve its connectivity. He said our next thrust is on water sector and completion of water reservoirs. Referring to the weaponisation of water by India, he made it clear that India will not be allowed to stop water. He, however, he emphasised that Diamer Bhasha and Mohmand Dams will be completed on war footing. He said the government would try its level best to complete Bhasha Dam in 2030. He said that big projects like the Diamer Bhasha and Mohmand Dams, Quetta–Karachi Highway, and new motorways will create jobs, boost agriculture, and connect our people. Highlighting infrastructure, he announced, 'Major projects include Diamer Bhasha Dam (Rs33 billion), Mohmand Dam (Rs35 billion), Quetta–Karachi Highway (Rs100 billion), M-6 Motorway, N-55 Indus Highway, and Eastbay Expressway Phase II. In water and energy, over Rs223 billion has been allocated, including 12 hydropower projects and the 1,200 MW Sindh Solar Project. We are building a clean, self-reliant energy future.' About the water and energy security, the minister said that Rs223 billion for clean energy and grid upgrades, with a major push on large hydropower projects and water management to reduce future crises. He said that 12 hydropower projects with cumulative planned output of over 9,000 MW. He said that 1,200 MW Sindh Solar Project and major transmission lines connecting South and the North of Pakistan. Speaking on investor confidence, Iqbal stated, 'Investor sentiment has dramatically improved. The IMF has approved $1.4 billion under the Resilience and Sustainability Facility (RSF) —first time ever for Pakistan. We've completed the SBA programme successfully and received the second tranche under the Pakistan's Extended Fund Facility (EFF). International agencies like Fitch and Moody's have upgraded Pakistan's outlook. The World Bank signed its first ten-year $20 billion Country Partnership Framework. These are not just endorsements; they are a vote of trust in our reform momentum.' He emphasised, 'Our fiscal deficit has come down from 5.9 per cent to 3.9 per cent. Remittances are expected to hit $38 billion this year. We have controlled Rs140 billion in losses from electricity companies, and new exploration and production investments worth $5 billion have been secured.' He elaborated that 'ongoing federal projects now total Rs12.8 trillion, with Rs8.5 trillion in throw-forward liabilities. Low allocations increase costs every year due to delays. Our approach is to focus on projects that generate jobs, improve exports, ensure climate resilience, and build human capital.' The minister for planning said infrastructure projects that improve regional connectivity is also our priority. He said that said the government is focusing on equipping the youth with the latest skills. He said a programme will be implemented to train over 200,000 youth in IT skills. He mentioned that Elimination of Hepatitis Programme has also initiated in the health sector at a cost of Rs64 billion. He said Jinnah Medical Complex and Daanish University will be established in the federal capital. He said a special economic zone one five hundred acres of land will be established in Karachi. The minister said that Uraan Pakistan framework is being taken forward. He said our target is to achieve sustainable growth. He said the country's economic growth remained 2.7 percent in the current fiscal year and our target for the next fiscal year is 4.2 percent. Copyright Business Recorder, 2025
Business Recorder
22-05-2025
- Business
- Business Recorder
NA panel reviews SMEDA, PIDC performance
ISLAMABAD: A parliamentary panel on Wednesday conducted a comprehensive examination and review of the performance, operational functions, and organisational structures of the Small and Medium Enterprises Development Authority (SMEDA) and the Pakistan Industrial Development Corporation (PIDC). The 2nd meeting of the Sub-Committee of National Assembly Standing Committee on Industries and Production met here on Wednesday with Muhammad Mobeen Arif in chair. The committee was appraised that SMEDA is an autonomous institution of the under Ministry of Industries and Production. SMEDA was established in October 1998 for encouraging and facilitating the development and growth of small and medium enterprises in the country. SMEDA is not only an SME policy-advisory body for the government of Pakistan but also facilitates other stakeholders in addressing their SME development agendas. Further the body formulate a policy to encourage the growth of SMEs in the country and advise the government on fiscal and monetary issues related to SMEs, facilitation of Business Development Services to SMEs and facilitate the development and strengthening of SME representative bodies associations/ chambers. Currently, SMEDA has a portfolio of twenty-eight projects with a total outlay of Rs4.2 billion. The authority has provided more than 0.15 million SME facilitation, over 4750 trainings, more than 400 pre-feasibility studies and over 600 consultants profiles. PIDC primarily operates as an infrastructure developer of industrial parks /estates to facilitate industrial growth across Pakistan. Five Industrial Parks are being developed/ managed by PIDC. Copyright Business Recorder, 2025
Express Tribune
26-02-2025
- Health
- Express Tribune
150 kids get bone marrow transplant in a year
"Free treatment is the right of every patient," Punjab Chief Minister Maryam Nawaz Sharif has asserted while announcing that 150 bone marrow transplants have been successfully performed during the past year at Lahore Children's Hospital. She added, "Success rate of bone marrow transplant operations is above 89 per cent, very much in line with the world standards. More than Rs4.2 million has been spent on each bone marrow transplant, and children not only from Khyber-Pakhtunkhwa and other provinces but from Afghanistan as well were among those who underwent free bone marrow transplantation in the Children's Hospital." The chief minister said, "I will soon issue a bone marrow transplant card. Every child is more important to me than my own children. After getting the card, the parents of ailing children will be free from expenses. There is no compromise on the health of children, all resources will be provided for the purpose."
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Express Tribune
25-02-2025
- Health
- Express Tribune
Maryam Nawaz announces free bone marrow transplant card
Listen to article Punjab Chief Minister Maryam Nawaz has announced the imminent launch of a bone marrow transplant card to facilitate treatment for patients in the province, Express News reported. According to reports, under the chief minister's initiative, 150 successful bone marrow transplants have been conducted at Lahore's Children's Hospital. The Punjab government is covering over Rs4.2 million per procedure. Children's Hospital is the first public-sector facility in Pakistan to offer bone marrow transplants. In the past year, its cancer ward has treated 2,000 patients, while more than 25,000 children have benefited from outpatient services. The hospital's bone marrow transplant success rate exceeds 89%, aligning with international standards. Patients from Sindh, Balochistan, and other provinces have also undergone procedures at the facility. Additionally, Afghan children requiring transplants have been treated free of charge in Lahore. Vice Chancellor of the University of Child Health Sciences, Dr Masood Sadiq, stated that the chief minister had directed that no child should be denied treatment due to financial constraints. The government also provides free post-operative medication, and patients undergo follow-up check-ups every 15 days. Maryam, in a statement, said, "Every child is more precious to me than my own. Free treatment is the right of every patient, and the state will fulfil its duty." She added that the introduction of the transplant card would relieve families of financial burdens. "There will be no compromise on children's health, and we will allocate all necessary resources," she affirmed.
Arab News
09-02-2025
- Politics
- Arab News
Senior UN official slams inadequate global support for Pakistan's climate efforts
ISLAMABAD: United Nations Resident and Humanitarian Coordinator Mohamed Yahya criticized the lack of global support for Pakistan in combating climate change this week, urging 'stronger solidarity' with the South Asian nation to aid in the reconstruction of homes following the floods over two years ago. In 2022, floods inundated one-third of Pakistan especially affecting the southeastern Sindh and southwestern Balochistan provinces, impacting 33 million people, causing 1,739 deaths and resulting in $14.9 billion (Rs4.1 trillion) in damage and $15.2 billion (Rs4.2 trillion) in economic losses, according to Pakistan's National Disaster Management Authority. The Global Climate Risk Index says Pakistan is among the countries most at risk from climate change. Extreme weather events like floods, droughts, cyclones, torrential rainstorms and heatwaves have been occurring more frequently and with greater intensity across Pakistan in recent years. 'One other things we are concerned about is the lack of stronger solidarity for Pakistan around the reconstruction after the 2022 floods,' Yahya told Arab News on the sidelines of the Breathe Pakistan Climate Conference in Islamabad on Friday. He noted this was despite the fact that 'Pakistan contributes even less than one percent of global emission and is in the top five countries impacted by climate change.' Yahya described it as 'unjust' for Pakistan to be asked to take loans for rebuilding homes destroyed in floods and mitigating a crisis caused by other countries, noting that 20 countries were responsible for 80 percent of global emissions. According to the UN, the 20 countries contributing to the global greenhouse gas emissions include China, the United States, India, Russia, Japan, Germany and Iran etc. 'We obviously welcome the loans Pakistan has received but Pakistan should not be using or taking loans to rebuild things that it had very little to do with and that we think is not just,' he added. The UN official maintained the world body consistently urged polluting countries, which have contributed to the climate change disaster, to do more and show solidarity and support to the countries bearing the brunt of the climate change impact. International donors in January 2023 committed over $9 billion (Rs2.5 trillion) to help Pakistan recover from ruinous floods a year earlier, exceeding its external financing goals. Officials from some 40 countries as well as private donors and international financial institutions gathered at a meeting in Geneva as Islamabad sought funds to cover around half of a recovery bill amounting to $16.3 billion (Rs 4.5 trillion). Prime Minister Shehbaz Sharif also called for a grants-based and flexible financial assistance for climate resilience for developing nations like Pakistan this week. He told the Breathe Pakistan Climate Conference that without global empathy and support, 'the path to climate adaptation and green transformation will remain elusive.'
