Oct 16 -
The CE defended the one-year performance of his government,
saying any aspersion on it was "malicious propaganda". However, he
said, this did not mean that he was claiming the performance was ideal.
Some external forces, he said, wanted to "destabilize
his government and him" and intelligence reports substantiated this
assertion. Some internal elements whose interests were going to be adversely
affected by the new local government system were also a part of the plan, and
since the devolution plan had deprived many bureaucrats of their power, they,
too, were worried about their future. NAB affectees had also joined the
bandwagon and utterances of all these people cumulatively were creating an
impression of despondency. For their own interests, Gen Musharraf said, such
people were raising the old issues like the release of the 30-year-old Hamoodur
Rahman Commission report.
Rejecting the allegation that Pakistan today stood isolated
in the comity of nations, he claimed that relations with countries like Iran and
Egypt had improved and with European Union and UK stabilized.
As for relations with China and the Middle East countries, he
said they were already very close.
He said the Kashmir issue had been projected at the
international level, adding that as a result of Pakistan's efforts, countries
like USA, Russia and UK were now directly dealing with Afghanistan.
About the recent defence deals between Russia and India, Gen
Musharraf said cooperation between them had already been going on. As for steps
by Pakistan to counter the situation, he said, "our strategy is to maintain
minimum nuclear deterrence and this policy will be adhered to."
He said though arm deals had been signed, their execution was
quite a different issue. He implied it was not necessary that every deal signed
between the two countries would be implemented.
Gen Musharraf told a questioner that it was India which was
responsible for firing from across the Line of Control. Pakistan, he said, had
to respond only in self-defence. He pointed out that recently an opportunity was
created for talks between Pakistan and India but it was stifled by New Delhi.
Regulations on bourses' alliances by March
A framework of regulations on the alliances and integration
of stock exchanges may be finalized when the Asia-Pacific regional committee of
the International Organization of Securities Commissions (IOSCO) meets at Kuala
Lumpur in March next.
The regulations would be broadly based on the discussions of
the committee's two-day meeting held at Bhurban earlier this week, the
Securities and Exchange Commission of Pakistan commissioner, Tariq Iqbal Khan,
told newsmen on Thursday.
The meeting was attended by 20 delegates from 13 countries,
TCP to pay Rs40 extra premium for lint cotton
The Trading Corporation of Pakistan has decided to pay an
extra premium of Rs 40 per maund over and above the prevailing prices of lint
cotton for a particular grade/staple being procured by the organization.
Official sources told on Wednesday that the TCP had revised
its cotton operation plan 2000-2001 and submitted it to the Economic
Coordination Committee of the Cabinet. The ECC is likely to approve the plan in
its meeting on Oct 16, they said.
The government, the sources said, had also asked the All
Pakistan Textile Mills Association (APTMA) to start paying the premium to the
The purpose was to encourage the growers and ginners to
produce "contamination-free" cotton, they added.
30% LC margin to retard exports
The imposition of 30% cash margin by scheduled banks and
stringent measures for early repatriation of export proceeds have created
difficulties for industry as well as export trade.
This was stated by a spokesman of APTMA Dr Mirza Ikhtiar Baig
while briefing newsmen at APTMA House on Wednesday.
He cautioned that if LC margin was not removed on import of
machinery and raw material it will retard the ambitious programme of expansion
and BMR initiated by the textile industry under 'Textile Vision 2005."
Pakistan to attend energy moot
Top-level representatives from at least 60 countries,
including Pakistan have confirmed attendance at the seventh international energy
forum slated for Riyadh, Saudi Arabia, from Nov 17-19, the authoritative Middle
East Economic Survey (MEES) reported on Monday.
Donors may cut $92m aid
International donor agencies may withdraw $92 million support
for Social Action Programme (SAP) due to the government's failure in fulfilling
its obligations in social sector.
Informed sources said on Saturday that the donors had
informed the government that the undisbursed $92 million (Rs5.5 billion) was
being withdrawn because of the failure of the concerned agencies to put in place
certain credible system to run SAP effectively.
Pakistan was earlier getting $267 million annually from the
multi-donor support, led by the World Bank, which had subsequently been reduced
from 0.4 per cent GDP ratio to 0.2.
Sources said that the donors had agreed to "renegotiate
and remodify" the SAP to make it a success story. In this regard new
proposals had been made by the government.
Razzak stresses increase in exports
Pakistan needs long-term investment in information
technology, chemicals, pharmaceuticals and engineering sectors in order to boost
This was stated by Commerce and Industries Minister, Abdul
Razzak Dawood at a forum organized by Pakistan German Business Forum on
"We need investments right now to further increase our
exports so that targets can be achieved," he said.
Duty exemption on raw sugar import
Duty exemption for import of raw sugar is being notified next
week to attract increased imports and meet the shortage in the country. The
sales tax on sugar is also being imposed on daily transaction basis, from next
Steps are also being taken to regulate the raw sugar import
by allowing only the manufacturers to place orders for import. The commercial
import of raw sugar is causing leakage of sales tax.