Mar 25 - 31, 2002
Developing countries should help themselves:
Pakistan believes that the developing countries
should not get used to living on the dole, and that aid should be
directed to those countries who learn to help themselves, finance
minister Shaukat Aziz said in an interview.
Aziz, who left New York for Monterrey (Mexico) on
Sunday to attend the global conference on finance and development,
stressed that the gap between the rich and the poor was expanding
rather than reducing which had serious implications and asked the
developed world to increase the quantum of aid to the developing
However, he underscored: "We believe that
throwing money in the bottomless pit is not good for the donors or the
recipients." "Money should only be given when the countries
show seriousness about reforms, show good governance and transparency
and there is no element of corruption in how the money is spent,"
Aziz, who will represent Pakistan at the Monterrey
summit which will be attended by 60 heads of state and 300 ministers,
said while the quantum of aid should be increased the terms should be
"Pakistan's view is that poverty should be
looked at holistically. Poverty is not just income poverty; lack of
health facility is poverty, lack of education and social services is
poverty, lack of access to justice is poverty, and lack of the ability
of the people to reflect their views and have their input into how the
government functions is poverty," he said.
Speaking about the Official Development Assistance
(ODA) which will be the main focus of attention at the conference,
Aziz said, "if you look at the trends at ODA they are coming
down. There was a consensus between various countries that 0.7 per
cent of GDP of the developed world will be given as aid but so far
only five Scandinavian countries are meeting that target.
Special cells soon to curb terrorism
The cabinet on Wednesday approved the draft police
ordinance 2002, and decided to offer it for a month-long public debate
before its promulgation to replace the Police Act, 1861.
"The public debate and vetting of the proposed
document by the law ministry will be held simultaneously so that the
law can be promulgated after a month," Information and Media
Development Minister Nisar Memon told a press conference.
The meeting, which was also attended by provincial
governors, laid stress on effective coordination among the security
agencies of all the provinces as well as the federal government as an
immediate step to combat a fresh wave of terrorism.
35 Sindh assets sale to fetch Rs1bn (Box)
The sale of 35 prime assets in Sindh, under the
privatization programme, is likely to fetch around Rs1 billion in the
first phase. This was stated by the Secretary, Sindh Privatization
Commission (SPC), Lal Din Kashmiri in a brief after a presentation
given by the SPC chairman, Syed Nasir Ali Shah Bukhari to the members
of the Karachi Chamber of Commerce and Industry (KCCI) on Wednesday.
He said the SPC has invited sealed bids offers and the last date for
submission of bids is March 30, 2002.
WB asks govt to annul Mari Gas price accord
The World Bank has asked Pakistan to dismantle gas
price agreement (GPA) of Mari Gas Company Limited (MGCL), a move that
would increase fertilizer and electricity rates manifold.
A senior government official told that this was
being contemplated as a second phase of gas price rationalization
programme. Part one of the programme agreed to with the WB under $350
million structural adjustment credit (SAC) has recently been
implemented by dismantling GPA of Pakistan Petroleum Limited (PPL).
The Mari Gas for fertilizer feed stock is capped at
Rs9.75 per million cubic feet (MCFT) against Rs34 per mcft from Sui
Northern and Sui Southern gas companies. The gas price for power
production from MGCL is also lower than gas coming from other sources.
Against Rs125.05 per mcft from Mari, gas price for power production
from Sui System before dismantling of PPL's GPA was Rs158 per mcft.
S.S. Jafri passes away
Syed Saeed Jafri died of heart failure on Monday.
He was 87. He leaves a widow, Begum Tayyaba Jafri, and daughter Naheed
Jafri Azfar, who is married to Barrister Kamal Azfar, and
grandchildren Umer Azfar, Saira Azfar and Farid Azfar.
Engg sector saving $3.2 billion forex
The Engineering sector is currently saving $3.2
billion foreign exchange, which would be increased manifold with the
better "Engineering Vision".
Commerce Minister Abdul Razak Dawood stated this
while presiding over a meeting of engineering sector manufacturers and
exporters on Monday.
He said that total engineering goods export were
$270 million in which the lion's share was of surgical instrument.
This sector was providing employment to 350,000 people and was
contributing 27 per cent to gross domestic product (GDP) with 3 per
cent share in country exports, he added.
Shell awards HSD tender
Shell Pakistan Limited (SPL) has awarded the high
speed diesel (HSD) tender to three international companies for the
supply of 385,000 tons in April-June.
SPL had invited a bid on February 23 for the supply
of 110,000 tons of HSD in April followed by two shipments of 55,000
tons and 55,000 tons optional cargo and 110,000 tons for the supply in
China keen on joint ventures
China can enter into joint projects for silk
processing and manufacturing in Pakistan for catering to the potential
demand of silk products in the South Asian and Middle Eastern
This was suggested by Leader of the visiting
Chinese Silk Delegation and Vice President of China National Textile
Industries Council, Xu Kunyuan in a meeting with the members of the
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on
Romania wants cooperation in trade
Romanian Ambassador to Pakistan Dr. Emil Ghitulescu
underlined on Saturday the need for cooperation between his country
and Pakistan in the field of trade and commerce, and for restructuring