Shehbaz hails economic conditions ‘improvement’

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif Friday said that due to efforts of his economic team the macroeconomic conditions in the country had improved significantly, but added the government would have to work further to improve conditions at the microeconomic level so that the benefits of economic progress could reach people.

He was speaking here during a meeting with a delegation of prominent industrialists and businessmen of the country.

The prime minister said the government was working on priority basis for the promotion of industry and business.

He said business community and industrialists were backbone of the country’s economy and it was our top priority to resolve the issues faced by them.

He said the government was striving for putting in place business and investment friendly policies.

The prime minister directed formation of a committee comprising businessmen, industrialists and government ministers for suggesting a path for sustainable economic growth. The committee would give suggestions to the government within two weeks.

The delegation appreciated the government for its economic policies and for bringing improvement in the economic indicators.

Meanwhile, Mian Muhammad Mansha, Pakistan’s leading business tycoon while talking to The News on Friday night said that Prime Minister Shehbaz Sharif along with his team held a meeting with businessmen with the aim to remove stumbling blocks in the way for creating more jobs in the country. He said that they informed the PM that the Karachi Port had become too congested so its expansion was required on an immediate basis because it caused a surge in the cost of imports and exports. There is a need to establish more terminals on both sides of the Karachi Port outside the city, he added.

He said that it was also suggested to the government to reduce tax rates because without rationalisation of tax burden the economic activities could not be promoted. He said that the supply side of economics needs to be applied to generate economic activities thus will help the government to recover more tax revenues. He said that he proposed to the government to strengthen recovery of loan laws in Pakistan so that the bankers could provide loans to every segment of the society. He cited an example of Sri Lanka and said that the recovery laws were strengthened there so loans could be provided to all segments. He said that the government also shared some details of its plan to utilise available fiscal space through reduced debt servicing for provision of erasing some portion of the circular debt and slashing the power tariff. He said that the government will have to focus on implementation of its plans to generate increased economic activities. He said that the government will have to privatise Power Distribution Companies (Discos) as the circular debt could not be tackled with the status quo. He said that the major loss-making Discos would have to be privatised to curb accumulation in the circular debt, he concluded.

Meanwhile, Pakistan’s Space and Upper Atmosphere Research Commission (Suparco) and China Manned Space Agency (CMSA) on Friday exchanged cooperation agreement on “Spaceflight of Pakistan astronaut to Chinese space station”.

Prime Minister Shehbaz Sharif, who also witnessed the ceremony, said Pakistan, in collaboration with China, would send its first manned space mission to China’s space station.

Meanwhile, Russian First Deputy Minister for Energy Pavel Sorokin called on Prime Minister Muhammad Shehbaz Sharif and discussed matters of mutual interest.

The Russian Minister for Energy said Russia was desirous of improving relations with Pakistan in the field of energy.

Meanwhile, Prime Minister Shehbaz Sharif told newly inducted members of the federal cabinet, that he would personally monitor the cabinet performance on regular basis.

Talking to federal cabinet members including new federal ministers, ministers of state and advisers whom he invited at breakfast at PM House, he said that their selection was made on the basis of competency and abilities.

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Plea for May 9 commission: SC gives PTI time to submit additional papers

By our correspondent

ISLAMABAD: The Supreme Court (SC) Friday granted time to Pakistan Tehreek-e-Insaf (PTI) to submit additional documents in its plea seeking formation of a judicial commission to probe May 9 incidents.

A five-member constitutional bench, headed by Justice Aminuddin Khan, heard the petition of PTI founder Imran Khan, seeking formation of the judicial commission.

During the hearing, Hamid Khan, counsel for the PTI founder, pleaded with the court to constitute a judicial commission for probing May 9 and 10 incidents.

The counsel told the bench to examine as to how and in which manner the May 9 incidents were being prosecuted.

Justice Jamal Khan Mandokhail asked Hamid Khan that under which law a judicial commission should be formed, adding that he had written in his petition that dozens of people were killed on May 9, but he did not submit any death certificate of any deceased.

Hamid Khan replied that the judicial commission’s inquiry would find out details of such deaths.

Justice Aminuddin Khan asked the counsel as to whether anybody had registered a private complaint, to which Hamid Khan replied that the Supreme Court should take notice of the matter itself. Hamid submitted that in the past, the Supreme Court constituted a judicial commission in the memogate case. Justice Muhammad Ali Mazhar observed that cases of May 9 incidents were being adjudicated upon in courts; therefore, “we are not in a position right now to form a judicial commission. Even if a commission was formed, what would be the decision of the five-member bench, related to the special court.”

Justice Hassan Azhar Rizvi observed that even if the commission was formed, the cases of May 9 had to be decided by the court. Hamid Khan, however, contended that the real question in this case was as to who was responsible for the May 9 incident.

Meanwhile, Salman Akram Raja, another counsel for the PTI, submitted that the court should also look at matters before the general election, adding that the judicial commission should also be formed on the elections issue. Raja informed the bench that the PTI founder had also written a letter on the matter. Justice Jamal Khan Mandokhail remarked that every election had some political party beneficiary.

Salman Raja contended that no CCTV footage of May 9 incidents were given. At this, Justice Jamal Khan Mandokhail told Raja that TV footage could prove to be his good defence in May 9 cases. Salman Raja questioned as to who burned the sofa and who opened the gate, the CCTV footage would find out all. Later, the court adjourned the hearing for date-in-office (indefinite period of time).