Latest news with #TariqFazalChaudhry
Express Tribune
11-06-2025
- Express Tribune
1st post-Hajj flight carrying 340 pilgrims arrives
The Pakistan International Airlines (PIA) commenced post-Hajj operations, with the flight from Saudi Arabia reaching Pakistan on Wednesday. The first post-Hajj flight, PK-732, carrying 340 pilgrims from Saudi Arabia, arrived at Islamabad International Airport on Tuesday, marking the beginning of the repatriation process for Pakistani pilgrims. Federal Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry received the pilgrims at the airport. During the month-long operation, thousands of pilgrims are expected to come back from Saudi Arabia after performing Hajj.
Express Tribune
31-05-2025
- Politics
- Express Tribune
Call to preserve Pakistan's built heritage
The Third Harappa International Conference brought together leading scholars, urban planners, policymakers and cultural experts from around the world in the federal capital. Themed, "Human Settlements in Transition: From Historic Roots to Future Visions in South Asia," it was kicked off on Friday at COMSATS University Islamabad. The conference was inaugurated by Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry. In his address, Dr Chaudhry highlighted the importance of drawing lessons from South Asia's urban heritage to build inclusive and resilient cities. He also emphasised the role of the conference in connecting the young student body of the Department of Architecture with their historical roots, encouraging students to actively contribute to initiatives aimed at national progress. He further expressed his resolve to take recommendations from such scholarly events into consideration for policymaking and relevant governing bodies. Addressing the occasion, COMSATS University Islamabad Rector Professor Dr Sajid Qamar, reiterated his commitment to enhancing academia's role in preserving and promoting built heritage. Dr Qamar said that we find ourselves at a critical junction where rapid industrialisation, urbanisation, and technological advancement are reshaping the very fabric of how and where we live. In this context, revisiting the lessons of the past becomes not just relevant but essential. He said that as our cities today continue to expand in unsustainable ways, we are seeing several critical issues like Environmental degradation and inequitable access to public spaces, for which we must shift towards visioning for tomorrow while being grounded in the wisdom of the past. Delivering the keynote address, Professor Dr Noman Ahmed, Acting Vice Chancellor of NED University of Engineering and Technology, Karachi, stressed the urgent need for inclusive, resilient, and context-sensitive planning to address South Asia's rapidly evolving urban landscapes.
Indian Express
30-05-2025
- Business
- Indian Express
How IMF has forced Pakistan to reform its farm sector
Can one imagine India dismantling minimum support price (MSP)-based procurement operations in wheat and rice? Or the government dissolving the Food Corporation of India (FCI)? Both political and economic considerations – not risking farmer displeasure and ensuring adequate grain reserves for the public distribution system, as well as to curb excessive open market price volatility – practically rule these out. But Pakistan has done that and much more – under pressure from the International Monetary Fund (IMF). The Pakistan government did not declare any MSP for the 2024-25 wheat crop, sown in November-December and being marketed from April. Nor has Pakistan Agricultural Storage & Services Corporation Ltd – PASSCO, the country's equivalent of FCI – procured a single tonne this time. Last year, the MSP for the 2023-24 crop was fixed at Rs 3,900 per maund (40 kg), i.e. Rs 9,750/quintal, and PASSCO procured 1.79 million tonnes (mt) of the cereal grain. Reform at gunpoint Pakistan's decision to dispense with MSP and government procurement of wheat has been externally forced, part of conditionality linked to an Extended Fund Facility loan of $7,113-million from the IMF, to be disbursed from the 2024-25 to 2027-28 fiscal years (FY: July-June). The so-called memorandum of economic and financial policies, submitted by the Pakistan government to the IMF for availing the loan, has clearly stated that in the case of wheat 'we have abstained from announcing support prices and undertaking provincial procurement operations during the 2025 Rabi season and are committed to continue this approach going forward'. That's not all. The memorandum has also committed to 'winding down PASSCO' under an overall plan to 'phase out federal and provincial government price-setting for agricultural commodities by end-FY26'. Pakistan's Minister for Parliamentary Affairs, Tariq Fazal Chaudhry, confirmed in the National Assembly earlier this month that PASSCO is being 'wound up', as the government isn't any longer buying wheat or regulating its prices. It has already appointed a consultancy firm, TAGM & Co, to assess the total value of PASSCO's warehouses, offices and other assets, and formulate a winding-up plan for the 51-year-old corporation 'within three months'. But it's not just MSP, procurement and PASSCO. The memorandum given to the IMF has promised to review all relevant legislation underpinning government interventions in commodity markets 'by end-December 2025'. These include the Price Control and Prevention of Profiteering and Hoarding Act, 1977 (similar to India's Essential Commodities Act of 1955) and provincial laws such as the Punjab Foodstuffs (Control) Act, 1958 and the Sindh Essential Commodities Price Control and Prevention of Profiteering and Hoarding Act, 2005. If these weren't enough, all the four provinces of Pakistan – Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan – have amended their individual Agriculture Income Tax legislation. These have now been fully aligned with the federal-level personal and corporate income tax regimes applicable for ordinary farmers and commercial agriculture respectively. The amendments will enable taxation of farm incomes to 'commence from January 1, 2025'. The contrast with India India hasn't been under any IMF-guided programme since June 1993, when it borrowed the last tranche of a Standby Arrangement loan of 2,207.925 million SDR (special drawing rights), equivalent to $2,394 million. This loan, taken between April 1991 and June 1993 when the country was facing a balance of payments (BOP) crisis like Pakistan is today, got completely repaid by May 31, 2000. With no IMF conditionality linked to financial assistance, there's no question of any reforms in India being imposed from outside, leave alone at gunpoint. Government agencies here have so far procured almost 30 mt of the 2024-25 wheat crop at the MSP of Rs 2,425 per quintal (the Indian rupee is over 3.3 times the Pakistani rupee). They have further purchased 85.5 mt of paddy (equivalent to 57.3 mt of milled rice) at the MSP of Rs 2,300-2,320 per quintal. Apart from MSP procurement and stocking of grain by FCI, India provides subsidies on fertilisers, electricity for irrigation and canal water, crop credit, insurance premium and other farm inputs. Income from agriculture attracts no tax either. Agriculture reforms in India – especially those leading to distorted cropping patterns (more rice, wheat and sugarcane being grown at the expense of pulses, oilseeds, maize, cotton and millets) and promoting inefficient/excessive use of nitrogen and water – are less likely under any BOP crisis-induced, IMF-dictated external pressure of the sort seen in 1991. The Central government's having to repeal the three farm laws liberalising trade in agricultural produce – which it had pushed through Parliament in September 2020 – demonstrates the limitations of reform by central fiat under the given political economy realities. The impetus to farm reform in India is more likely to come from internal fiscal, as opposed to external BOP, pressures. And that would probably be at an individual state level (Punjab, for instance) rather than from the Centre. Production comparisons The US Department of Agriculture (USDA) expects Pakistan's wheat production in 2024-25 (that crop is now being marketed) at 28.5 mt, down from last year's record 31.44 mt. The decline is due to a reduction in area sown, from 9.6 million to 9.1 million hectares. That, in turn, is attributed to the Pakistan government's decision to discontinue MSP procurement and also dry weather. Since October 2024 and throughout the growing season, rainfall was below average and temperatures well above average. While wheat is a largely irrigated crop, the 2-3 showers normally received during the winter-spring months help in supplementing irrigation water and positively impacting yields. Wheat is Pakistan's staple food, with its per capita consumption of around 124 kg per year being 'one of the highest in the world', according to USDA. The agency projects the country's consumption in 2025-26 at 31.5 mt, which will then necessitate imports. Pakistan was forced to import 3.59 mt in 2023-24 (May-April) and 2.73 mt in the previous marketing year. It's the opposite situation in rice, where Pakistan's annual production of 9.75-9.8 mt is way ahead of domestic consumption of 4.1-4.2 mt. That makes Pakistan an exporter of rice, the world's fourth largest after India, Vietnam and Thailand. Pakistan's rice shipments were at 6.49 mt in 2023-24 and 5.5 mt in 2024-25. The accompanying table shows Pakistan to be a significant producer of wheat, rice, maize and cotton. While its output of these crops is lower than India's, a more appropriate comparison would be with Uttar Pradesh (which has almost the same population) and Punjab (having similar growing conditions). Pakistan scores reasonably on the above counts, although the medium and long-term impact of the IMF-imposed reforms, plus more resources going towards military spending ('guns versus butter'), on its agricultural economy remains to be seen. Harish Damodaran is National Rural Affairs & Agriculture Editor of The Indian Express. A journalist with over 33 years of experience in agri-business and macroeconomic policy reporting and analysis, he has previously worked with the Press Trust of India (1991-94) and The Hindu Business Line (1994-2014). ... Read More
Business Recorder
20-05-2025
- Politics
- Business Recorder
NA passes two bills: Panel bypassed in explosives bill approval
ISLAMABAD: The National Assembly Monday passed two bills including 'The Explosives (Amendment) Bill, 2025'which states that anyone who is found illegally involved in the manufacturing, storage, possession, procurement, sales, transport, export, import or use of explosives, shall be liable to imprisonment from three years to seven years or a fine of half a million to 20 million rupees or both. The house passed the 'The Pakistan Navy (Amendment) Bill, 2025' and 'The Explosives (Amendment) Bill, 2025' bills with a majority. The National Assembly passed 'The Explosives (Amendment) Bill, 2025' after introduction without referring to concerned standing committee for deliberation through adoption of a motion in the house. Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry introduced the bill in the house then he moved a motion in the house to pass it without referring it to the concerned standing committee. The house adopted the motion and the minster tabled the bill for passage. After it, the house passed the bill without any discussion. Speaker National Assembly Sardar Ayaz Sadiq presented the bill by clubbing its clauses two to ten in the house instead of reading clause by clause. The House passed the bill with majority. According to clause four of the bill, a new clauses 5A and 5B are inserted as ''5A. Offences of minor and major violations. - (1) Where a licensee commits no minor violations which are non-malicious, he shall be liable to an administrative penalty not exceeding half million rupees. (2) Where a licensee commits minor violations which are malicious, he shall be liable to an administrative penalty not exceeding one million rupees. (3) Where a licensee commits major violations which are non-malicious, he shall be liable to imprisonment not exceeding three years or a fine not exceeding ten million rupees or both. (4) Where a licensee commits major violations which are malicious, he shall be liable to imprisonment not exceeding seven years or a fine not exceeding twenty million rupees or both. (5) Whoever commits any act involving the manufacturing, storage, possession, procurement, sale, transport, import, export or use of explosives without any licence under this Act and rules made thereunder shall be liable to the punishments provided for in theExplosive Substances Act, 1908. 5B. Trial of offences. - The offences under this Act and under the Explosive Substances Act, 1908 shall be tried by the Anti-Terrorism Court established under the Anti-Terrorism Act, 1997.' The objects and reasons of 'The Pakistan Navy (Amendment) Bill, 2025, state: 'this Bill seeks to amend provisions of the Pakistan Navy Ordinance, '1961 so as to provide the structural underpinnings of raising and maintaining the Navy, including inter alia, the power to grant commission, determine terms and conditions of service, carryout welfare activities, national development tasks and other operational and institutional matters.' Copyright Business Recorder, 2025
Arab News
19-05-2025
- Business
- Arab News
Pakistan says $2 billion received since creation of special investment council
ISLAMABAD: Pakistan's Federal Minister for Parliamentary Affairs Dr. Tariq Fazal Chaudhry said on Monday that the country has received $2 billion in foreign investment since the Special Investment Facilitation Council (SIFC) was formed in 2023. Pakistan's government formed the SIFC in June 2023 to attract international investment in key economic sectors such as tourism, livestock, trade, infrastructure, mining and minerals. The government decided to form the hybrid civil-military forum after Islamabad narrowly avoided a sovereign default in 2023 before it was saved by a last-gasp bailout program by the International Monetary Fund (IMF). 'Since its inception, more than $2 billion in foreign investment has flowed into Pakistan, and our economic indicators are improving,' Chaudhry informed lawmakers during a question hour at the National Assembly, the lower house of Pakistan's parliament. Responding to a question by lawmaker Shazia Marri, Chaudhry said the SIFC played a crucial role in removing 'bureaucratic hurdles' that previously discouraged international investors. Answering a supplementary question from lawmaker Arshad Abdullah, the minister acknowledged that Pakistan's bureaucratic processes had long deterred global investors. 'In our system, even setting up a petrol pump requires 21 NOCs (no objection certificates), while in Indonesia, only one NOC is needed to establish an industry,' Chaudhry said. He stressed that the SIFC's goal is to eliminate such inefficiencies. 'We are moving from manual to automated systems to streamline investment processes,' he shared. Since its inception in 2023, the SIFC has also been instrumental in ensuring several trade and investment deals were signed between Pakistan and its regional allies Saudi Arabia and the United Arab Emirates were signed.
