The First Trade Promotion Program

The government launched the first trade promotion program, “Authorized Economic Operator (AEO)” to reduce business costs for industry and trade. According to the official announcement released on Friday, the program was adopted in accordance with the highest international practices and the World Customs Organization security standards.

Under the above program

The government will certify reliable businesses that prove that they have a reliable, safe and clean history in compliance with national law, and in return, all government departments will have maximum promotion policies for such trusted organizations. I could focus on growing the business that will adopt.

To highlight the spirit of the AEO program, the Chairman of the Federal Board of Revenue (FBR) and Customs (Policy) members convened all government departments and border agency meetings at the FBR headquarters to attend the board.

FB Chairman Shabbar Zaidi told participants that the AEO program will replace the “red tab” of government departments with “red carpets” for trusted businesses and provide a resident environment, which is an excellent step towards facilitating merchants and facilitating business. Informed.

The business community maximizes its potential. He initially explained to the participants that the AEO program would be implemented at the export stage, not only facilitating national exports, but also playing an important role in creating jobs.

Subsequently, he said that

The scope of this program will be extended to other economic sectors for maximum promotion and priority handling of all government departments. The Customs Service Javed Ghani asked participants from all government departments to send their feedback on the attractive AEO program to meet the maximum aspirations of trade and industry.

Representatives of the government departments thanked the AEO initiative and agreed to recognize their trusted business partners at the federal level and that they were the first initiatives to accompany all government departments' benefits.

Assistant to Information PM Said

Dr. Firdous Ashiq Awan, Special Assistant to Information Prime Minister, said Friday that Pakistan's Threek-i-Insaf is the only party that respects the democratic tradition. In an interview with the media, she said that when the PML-N and the People's Party of Pakistan exercised power, they not only ignored the public but cheated politically.

She said that on the PTI foreign funding case, the Election Committee should begin hearing about the application submitted by PTI on PML-N and PPP on foreign funds. Awan said the opposition party's Leviathan committee became a "Rezan Commission because its member states are observing each other's political agendas.

She added that the government always respected the judiciary, expressing hope that Nawaz Sharif would return home after receiving treatment in London. Awan says the Indian government has been deprived of the basic rights of the oppressed people of Jammu and Kashmir.

Indian terrorism, massive human rights violations, custody killings and innocent Kashmir genocide are going on in the valley. She urged the world to stop cruelty under UN resolutions and pressure India to resolve the Kashmir conflict. “The Indian Kashmir will soon see the dawn of freedom.

Newly appointed Minister of Planning

On Saturday, the newly appointed Minister of Planning Assad Umar set a record of the nature of the ties between Pakistan and China, especially within the scope of the China Pakistan Economic Corridor (CPEC). His speech specifically responded to a recent statement by Alice Wells, a US diplomat in charge of the US State Department's South Asian affairs.

The diplomat warned that CPEC would add more to Pakistan's debt burden. She said that CPEC is not an aid but an investment and it is right. It contains a subsidy element but it is fundamentally an investment. Pakistan is not an aid, especially when the government always has a press conference in Karachi," Umar said.

The aid that Pakistan received in the past did not actually make a substantial contribution to the development of the country, and we have the right to point out that we should be on our own feet," the minister added Wells. But Umar rejected the notion that China was the only backer of the agreement.

We have said

Many times in the past that these two countries have benefited from CPEC. Chinese companies exported their machines and started their business when they came to Pakistan. Lack of infrastructure in Pakistan, especially in the power sector, met many of the country's needs. The CPEC has been a source of large-scale funding that was not previously available in Pakistan, so the infrastructure has been deployed in the first stage and now further development will take place.

This is what industrialized countries do. They enter into mutually beneficial agreements with countries that have good relationships with each other. Otherwise, there can be no equality and self-esteem. ML-1 is Pakistan's biggest weakness in transport with respect to certain questions related to ML-1 is the lack of an inexpensive transportation system.

Globally, especially in the United States, the biggest reason for industrial competitiveness is low-cost transportation systems. The cheapest steel systems are especially the Mississippi River system and train system.

Pakistan has long ignored train systems

I was looking at data from the late 60's and saw 79% of fertilizer was being transported by rail. Now that number is no more than two. So there's no doubt that we need to improve the rail system. Optimum structures, final costs, etc. are being done in a feasible way, and of course, the most competitive structures will be chosen whether or not billions of dollars are invested.

Even in Pakistan's road structures, he has seen billions of dollars of investment." did.

Debt crisis is not related to China

The minister said Wells' main argument is that Pakistan is more involved in the debt recession with CPEC. "She said that the Pakistani economy was starting to crumble under the burden of Chinese debt. There is no doubt that Pakistan's external debt had affected economic development and that a crisis a year ago occurred. It has nothing to do with it. He went on to explain China's role in Pakistan's debt crisis.

Currently, our total public debt is $ 74 billion, of which China's debt is $ 18 billion, much less than a quarter of our total debt. More detailed analysis shows that the CPEC debt of this public debt is $ 4.9. Not even $ 1 billion, ”the minister pointed out.

CPEC is clean

Chinese envoy rejects US claim to lack of transparency. When it comes to the money earned in China, it brought about a time when our trade deficit was high in risk and our reserves fell. We couldn't easily borrow from other sources. This was a characteristic of China's friendship. In times of crisis like Pakistan we provided loans from commercial banks.

He said debt service in the next three years will be spent a third of the time to settle commercial loans in China. "Three years later, this commercial borrowing will be replaced by long-term multilateral debt, so some of China's debt services will decline sharply.

He said that Wells's argument was wrong, saying commercial lending was expensive and there was not enough payback. The minister said, “The public debt obtained from China has a 20-year maturity and interest is low at 2.34pc. Including the subsidy element, the interest value goes down to about 2pc.

Umar dismissed the claim that Pakistan's development would be limited under the CPEC, and said that infrastructure development is focused on road and energy projects in the first phase. Based on this, Pakistan will see industrial development.

In about two months

A special economic zone will open," she said. "It was right to say that there aren't many jobs taking place in the first stages where infrastructure development is the goal. When industrial development begins, it will open the way for jobs." is. It also stated that the scope of CPEC has been expanded to focus on the agricultural and social sectors. "In fact, progress is anticipated by the leaps and bounds based on CPEC," he stressed.

Iron Brothers

Umar also commented on concerns that when US diplomats invest in the US, the technology is transferred and not the same as China's investment. Technology transfer is undoubtedly the result of US investment, but China is now part of the technology war and a big source of technology. Pakistan will also go to a greater potential for technology development." said.

China is our best friend and partner and we have been in Pakistan during the most difficult times. They call us their iron brothers. Anyone who goes to China gets a deeper understanding of the bonds that bind us. Stronger ties Form. But this doesn't mean we're against others. This doesn't mean we're against America.

We want to have a better relationship with every country. I'm welcomed by American companies, welcomed and going forward. You can convince Alice Wells that Umar is welcome to Pakistan. Pakistan has always paid collateral damage in wars with other countries over the last few decades. We do not want to create a situation in which we are part of another person's change.

Incorrect Analysis

Also, a statement issued by the Ministry of Planning, Development and Reform on Saturday refuted Wells' argument. A foreign ministry spokesman said the CPEC project "is not making the nation angry," in terms of debt burden.

IMF officials during the last visit also supported the factual position by stating that they had full access to the borrowing and maturity terms of the CPEC project and that the loan was manageable.

Primary data collected from 12 projects under CPEC revealed that more than 90pc of the total 81,121 total workforce in this project were Pakistani workers.