Senate approves PPO with thumping majority

 

ISLAMABAD: The Senate on Monday passed the amended Protection of Pakistan Ordinance (PPO) with thumping majority as no political party opposed it.
However, the opposition expressed annoyance at the absence of Minister for Interior Chaudhry Nisar Ali Khan from the upper house of parliament.The bill sought to provide protection against waging war against Pakistan and prevention of acts threatening its security. The bill will now be taken up and adopted by the National Assembly in its session summoned for July 02 and would become a law after the president gives his assent to it.

Leader of the Opposition Aitzaz Ahsan accused the government of not being able to comprehend the seriousness of the prevailing situation with regard to the plight of the internally displaced persons (IDPs) and said there was need to make every possible bid to ensure comfort to the displaced people. He proposed to the government to freeze the mega projects such as metro bus and divert maximum funds for the IDPs.

Aitzaz said the army was waging a war against an enemy in North Waziristan to make Pakistan a secure place and the government needed to show seriousness in handling the related issues, particularly the humanitarian crisis of IDPs.

Opposition senators took the government to task for not taking due care of the people displaced by the Zarb-e-Azb operation in North Waziristan. They alleged the government had other priorities to focus on, and Prime Minister was criticised for taking out time to inspect a plane taken on lease and showing no interest or concern over the Karachi airport attack and firing on a plane at Peshawar Airport.

Among other things with regard to the bill, the government agreed to reduce the period of the law’s enforcement from three to two years. Moreover, the bill also binds the government to order a judicial inquiry instead of a departmental inquiry, in case a law-enforcement agency opens against suspected terrorists.

The bill has also been amended, which mandates the order to shoot a person on suspicion should come only from a law-enforcement agency official or police officer of grade-15 or above.

Over a dozen amendments proposed by the opposition parties in the House were made part of the piece of legislation through the Senate’s standing committee on interior.The amended bill defines a militant as a state enemy and anyone found sheltering the enemy would also be considered an enemy. Now, the convicted persons would also have the right to appeal their convictions before a high court.

The Protection of Pakistan Ordinance had already completed its extended life earlier this month after the government’s bid to get it through the Senate failed to make it an act of Parliament within the constitutional timeline.

Mian Raza Rabbani of Pakistan People’s Party strongly protested over the absence of interior minister Ch. Nisar Ali Khan, as on his behalf minister Zahid Hamid rose to move a motion for the laying of the House committee report and then move the bill for its passage.

Acting chairman Senate Sabir Baloch also said, “Are you Ch Nisar Ali Khan”, as Zahid Hamid got up. On the orders of the day also, the name of the federal minister for interior was mentioned.

Rabbani said the government’s seriousness could be gauged from the fact such an important bill was being passed and the minister was not around. “The Senate can’t be taken for granted,” he asserted. He added they agreed to cooperate with the government on this bill only for the sake of the particular conditions Pakistan was in today.

PML Senator Kamil Ali Agha, referring to some media reports, claimed during his Bannu visit Prime Minister had not visited any genuine IDP camp. He said this would have sent a very disturbing message to the displaced persons, who were in dire need of the nation’s support and help at this difficult juncture.

Federal Minister for the IDPs Abdul Qadri Baloch rose to explain the measures the government had taken so far and was taking for the well being of the IDPs but he preferred not to touch upon the point raised by Senator Agha.

Similarly, federal minister for information and broadcasting Senator Pervaiz Rashid also threw light on the government’s steps vis-à-vis IDPs and said every positive suggestion in this regard would be welcomed.

Opposition senators including Afrasiab Khattak, Muhammad Zahid Khan, Aitzaz Ahsan, Raza Rabbani and Kamil Ali Agha on a call attention notice and on points of order, came hard on the government for its alleged indifference to the difficulties being faced by the affected people. Pakistan Tehreek-e-Insaf Chairman Imran Khan was asked to devote funds and his men for the alleviation of sufferings of the IDPs instead of creating instability.

They pointed out that there were reports in newspapers that the Civil Aviation Authority probe had blamed no one for the recent Karachi airport terrorist assault. Rabbani said they had already demanded resignation of the CAA chief and PM’s special assistant, who was given the responsibility in disregard to the Supreme Court judgement.

The opposition senators were outraged by the government’s cold-shouldered reaction to the firing on a PIA plane in Peshawar and the world international airlines’ decision to suspend their flights to and from the provincial capital. They said this had compounded problems of the passengers most of whom worked in Gulf countries.

Parliamentary affairs minister Sh. Aftab and state minister for interior Muhammad Balighur Rehman assured the House that the government was alive to the situation and the prime minister had issued instructions in this connection. However, Aftab could not make a statement when asked how the government would prevail on the foreign airlines to resume their flights to Peshawar.

The senators also flayed federal minister for interior for not visiting the Karachi airport and Peshawar airport after the recent acts of terrorism there.Pervaiz Rashid, who is also law minister, moved a motion for authorisation of the Senate chairman to make nominations in consultations with parliamentary parties leaders in proportion to their representation in the House for the parliamentary committee being formed to evaluate shortcomings of previous elections and make recommendations for electoral reforms to ensure that polls are held in a free, fair and transparent manner. The Senate session was prorogued after less than two hours’ proceedings.

National Assembly approves Finance Bill 2014-15

ISLAMABAD: The National Assembly on Saturday approved the Finance Bill for fiscal year 2014-15 with total outlay of Rs 4.3 trillion, accepting some amendments moved by the government and rejecting all ones from the opposition benches.

Following nine-day discussion, the 149-page Finance Bill was moved by Minister for Finance Ishaq Dar that was passed by the House with majority in clause by clause reading. The passage of the Finance Bill has successfully brought to an end the budgetary process started on June 3 with the budget speech of the finance minister at the National Assembly.

The bill now will go to the President for assent who will sign it into law making it will be applicable from July 1 2014. The House echoed with desk thumping as the House passed the budget in presence of Prime Minister Muhammad Nawaz Sharif who also witnessed the budget s passage.

The Senate had made 133 recommendations out of those the government accepted 57 and were incorporated in the federal budget full or partially. Once signed into law, the bill will increase monthly stipend from Rs 1,000 to Rs 1,500 billion for those receiving income support and number of families for the Benazir Income Support programme will be increased from 4.1 million to 5.3 million.

The crop insurance will be increased to 25 acres and prices of fertilizers will be reduced by Rs 300 per bag. The bill will also help reduce GADC to Rs 100 on power zero on cement Rs 150 on general industry Rs 200 on captive power and zero on commercial sector.

The government will also impose uniformed income tax of 4 percent on first class air travel and reduce sales tax on solvent extractors from 17 to 16 percent. The government will withdraw the exemptions of Rs 103 billion under its endeavor for phased elimination of SROs aimed at favoring influential ones.

The Finance Bill also provides a special package of Rs 36 billion for all provinces out of that Balochsitan will get Rs 14 billion, Sindh Rs 8 billion, Khyber Pukhtunkhwa Rs 4 billion, FATA Rs 4 billion, AJK Rs 3 billion and Gilgit Baltistan Rs 2 billion.

As part of the budgetary approval, the House has also approved demands for grants worth Rs 2.6 trillion besides charged expenditures. Following the passage of the budget, the finance minister felicitated the National Assembly Senate and the whole nation on approval of the budget saying the government was committed to take the country to its bright future as per vision of founder of the nation Quid-e-Azam Muhammad Ali Jinnah.

He informed National Assembly that the country s foreign currency reserves had reached to US 14.2 billion. He said that due to its prudent policies the government had managed to cross 14 billion mark and in future it would continue taking steps for further improving foreign currency reserves.

KP cabinet approves 2014-15 budget proposals

PESHAWAR: The Khyber Pakhtunkhwa cabinet has approved 2014-15 budget proposals.

The budget will be presented during the provincial assembly session scheduled for 4:00 PM today (Sunday). The budget which is in excess of Rs400 billion will be presented by senior provincial minister and JI leader Siarjul Haq.

Rs139.70 billion has been allocated for annual development programme which includes Rs39.65 billion from the foreign development fund.

The budget allocation for education and health has also been increased in this year’s budget. Over Rs24.63 billion have been allocated for health while Rs79.92 billion have been allocated for education.

The provincial budget also includes the following projects: Peshawar mass transit, mobile hospitals, schools, highways, roads and bridges.

It is expected that the budget will also include a 15% pay raise for government employees.

Sindh cabinet approves 2014-15 budget proposals

KARACHI: The Sindh cabinet has approved the provincial budget proposals for fiscal year 2014-15.

The provincial cabinet meeting was chaired by Chief Minister Qaim Ali Shah.

The provincial budget has allocated 30 per cent for education. Sindh Education Minister Nisar Khuro said 4,000 students of class 4-10 will be provided a stipend of Rs2500-Rs3500.

Pakistan approves, seeks drone attacks in Waziristan

 

ISLAMABAD: Two top government officials told Reuters on Thursday the two drone strikes on Wednesday in Waziristan were carried out as a coordinated “joint Pakistan-US operation”.
A Reuters report from Islamabad said 10 militants were killed in this year’s first two drone strikes in Pakistan, officials said on Thursday, six months after the attacks were suspended by Washington to give it space to pursue peace talks with the Taliban.

The report said: “Two top government officials said Pakistan had given the Americans ‘express approval’ for the latest strikes — the first time Pakistan has admitted to such cooperation.”“Baseless” was the one word comment when a correspondent for The News contacted the Foreign Office after Reuters released this report.

“The attacks were launched with the express approval of the Pakistan government and army,” said a top government official, requesting not to be named as he was not authorised to discuss the issue with the media.

“It is now policy that the Americans will not use drones without permission from the security establishment here. There will be complete coordination and Pakistan will be in the loop.”“We understand that drones will be an important part of our fight against the Taliban now,” the official added.

“Another official was quoted by Reuters as saying Pakistan had asked the Americans for help after the attack on Karachi airport, and would be intensifying air strikes on militant hideouts in coming days.

“Pakistan has always publicly opposed the US drone strikes, saying they kill too many civilians and violate its sovereignty, although in private officials have admitted the government supports them.“The Pakistani government is weighing all options after the Karachi attack.”

Nawaz approves end of hundreds of SROs

ISLAMABAD: Prime Minister Nawaz Sharif has approved withdrawal of hundreds of concessions given through SROs to net Rs 230-240 billion in the national kitty in the new budget.

“Yes the PM has approved 90 to 95 percent of proposals finalised by Finance Ministry and FBR during the budget-making process on the subject of withdrawal of SROs and exemptions through the coming Finance Bill, 2014-15 on Friday evening,” official sources who participated in high-level meeting confided to The News here on Friday night.

The PM, according to these sources, has directed the authorities to protect the poor and middle classes from the increasing tax burden and to ensure that the prices of essential items do not go up.

On the issue of surrendering the powers of SROs to Parliament, the sources said that it is up to the government to take a decision on this subject. “The FBR has shown its willingness to surrender this power to Parliament,” added the sources.

There are certain free trade agreements, preferential trade agreements and avoidance of double taxation agreements with other countries so these SROs would be protected. The government has decided to withdraw those SROs which are individual or company-specific in their nature. In case of huge involvement of tax revenues, the FBR will bring those sectors into normal tariff regime after withdrawal of SROs.

“We have committed to the IMF to withdraw SROs and abolish tax exemptions in the next three years so in the upcoming budget only first phase will be made part of the Finance Bill,” added the official.

NEC approves Rs1.310 trillion development budget for 2014-15

 

ISLAMABAD: The National Economic Council that met here on Thursday with the prime minister in the chair accorded approval to the country’s largest ever development budget of Rs1.310 trillion for 2014-15 with projected GDP growth of 5.1 percent and an inflation target of 8 percent, a senior official who was part of the meeting told The News.
The supreme economic body also approved the Pakistan Vision 2025 with the prime minister saying that this vision was our development roadmap and Pakistan would grow as this vision would ensure the best usage of our resources as was done by developed countries.

The NEC also approved allocations for the Diamer Bhasha Dam, Karachi Coastal Power Project, Dasu hydropower project, Neelum Jhelum hydropower project, Chashma NPP, Jamshoro power project, Tarbela Extension IV project, Nandipur power project, Chichon-ki-Malyan power project, Gomal Zam project, the Kurram Tangi Dam and Golan Gol hydropower project.

Citing the significant allocations for power projects, the prime minister commented that it showed the seriousness and commitment of the government towards alleviating power scarcity. The PM said that they had released Rs37 billion for the Diamer-Bhasha Dam in one calendar year in order to expedite the project.

Infrastructure projects including the Lahore-Karachi Motorway, Hasanabdal-Havelian-Mansehra Road project, Peshawar Northern Bypass, Raikot-Islamabad project, Gwadar Airport, Gwadar Free Economic Zone and the construction of jetty and infrastructure development at the Gadani Power Park also received approval of the NEC. A feasibility study for the construction of the Havelian-Raikot railway line was also approved. The PM said that the Rs53.5 billion was the land acquisition cost of the Lahore-Karachi Motorway of which Rs25.5 billion have already been released.

The Rs1.310 trillion development budget includes a federal development component of Rs525 billion and provincial component of Rs650 billion with Rs135 billion to be generated by Wapda, NTDC and Pepco for some vital projects, as against the consolidated development budget of Rs1.150 billion for the ongoing fiscal 2013-14.

However, the sources also said that the provincial chief ministers in the meeting said that as far as the provincial share of Rs650 billion in the development budget was concerned, it would have been better to first consult them as they would prefer to fix their development budget keeping in view their fiscal limits.

An amount of Rs40 has been allocated for the Pakistan Railways, Rs48 for nuclear energy, Rs 36 billion for the PM’s initiative for less developed areas that include allocation of Rs15 billion for Balochistan, Rs8 billion for Sindh, Rs4 billion for KPK, Rs3 billion for AJK, Rs4 billion for FATA and Rs2 billion for Gilgit-Baltistan.

The NEC approved allocation of Rs260 billion for the water and power sector (Rs166 billion for the power sector and Rs84 billion for the water sector), Rs1.5billion for MDGs and the community sector, Rs51 billion for education and health, Rs163 billion for transport and communication.

However, for the communication sector alone Rs113.576 billion has been allocated for the ongoing 57 schemes and Rs8.356 billion for new schemes in the communication sector. For the New Islamabad Airport, a new approach road worth Rs16 billion has been approved and an allocation of Rs10 billion for the next financial year and for the ongoing road project for the same airport, Rs2 billion allocation has been proposed.

The NEC also approved the projected GDP growth of 5.1 percent as had earlier been worked out by the National Account Committee (NAC) and then backed by the APCC. The projected target of GDP of 5.1 percent has been worked out keeping in view the projected growth of agriculture by 3.3 percent, industry by 6.8 percent and services by 5.2 percent. Nominal GDP is targeted to grow by 13.5 percent and GNP per capita is projected at Rs160,443.

However, the press release says, Ahsan Iqbal, Federal Minister for Planning, Development and Reform, outlined the seven pillars of Vision 2025 while briefing the NEC.

NEC allowed the Planning Commission to publish the details of this Summary in the form of a document titled “Pakistan Vision 2025” for public information and directed Ministries/Provinces/Special Areas and Public Sector agencies to make concerted efforts in coordination with the Ministry of Planning, Development and Reform to effectively implement the proposed Pakistan Vision 2025. Moreover, the Planning Commission was authorised for regular monitoring of progress to translate the Vision into reality through a Performance Delivery Unit against key performance indicators (KPIs) and approved the framework for the eleventh five year plan within the perspective of Vision 2025.

While discussing the development projects in Balochistan, the CM Balochistan pointed out the delay and corruption in the Quetta water supply scheme. He siad that Rs10 billion had been spent but on the ground there was no development. The prime minister directed to hold enquiry into the matter and fix the responsibility. He also asked CM Balochistan Dr Abdul Malik to monitor the projects himself.

The NEC also approved construction of a cancer hospital in Islamabad. The PM directed to prepare plan for constructing a cancer hospital in every provincial headquarters including Gilgit-Baltistan, AJK and FATA.

Senior minister Khyber Pakhtunkhwa Sirajul Haq raised the matter of the delay in the completion of the Lowari Tunnel project due to paucity of funds. The PM assured to look into the matter and directed to specify the required funds for completion of the project. He said that he would personally visit the project along with the governor and chief minister KPK to see the on-ground situation. The PM said that none of the development projects would be ignored. The PM also warned against delays in the projects.

Addressing the query of the governor KPK regarding development funds for Fata, the prime minister said that Fata needed special attention in our development strategy and the development funds for Fata would be rationalised.

Chief minister Balochistan raised the issue of funding of transmission lines for far flung areas, the issue of power shortages in Balochistan and water supply scheme for Gwadar. The PM said that nature had endowed Balochistan with vast resources of solar energy and we needed to tap this energy. He directed to prepare a feasibility for installing solar power panels in Balochistan. It would not only resolve the energy shortage but also provide affordable energy to locals, he added. Prime minister directed to plan the water supply scheme and assured funding by the federal government.

Muhammad Saleh Zaafir adds: While briefing the NEC, Federal Minister Professor Ahsan Iqbal outlined the seven pillars of Vision 2025 including putting people first, Developing Human and Social Capital, Achieving Sustained, Indigenous and Inclusive Growth, Governance, Institutional Reform and Modernisation of the Public Sector, Energy, Water and Food Security, Private Sector-Led Growth and Entrepreneurship, Developing a Competitive Knowledge Economy through Value Addition and Modernisation of Transportation Infrastructure and Greater Regional Connectivity.

NA approves resolution to unban YouTube

ISLAMABAD: A resolution was approved in the National Assembly (NA) to unblock video sharing website YouTube in Pakistan.

The resolution was presented by PPP MNA Shazia Marri who said that all Muslim countries had ended the ban on YouTube. Marri added that access to YouTube in Pakistan was available through proxies and it was now time to end the hypocrisy.

YouTube was blocked in Pakistan in September 2012 after it refused to remove blasphemous content on the request of the country’s government.

Sindh Assembly approves resolution against load shedding

KARACHI: The Sindh Assembly on Tuesday approved a resolution against the federal government pertaining to load shedding in the province.

The Sindh Assembly session was held under the chair of Deputy Speaker Shehla Raza in which the resolution was presented by PPP leader Nisar Khuro. Earlier, provincial parliamentarians from the MQM and PPP termed load shedding in Sindh as an act of revenge being committed by the federal government.

Parliamentarians called for Sindh to be provided its share of electricity warning that failure to do so would result in protests.

MQM leader Faisal Sabzwari called for protests to be held if they would lead to the load shedding issue being resolved. PML-N leader Irfanullah Marwat said they would support Chief Minister Qaim Ali Shah if he held protests like Punjab Chief Minister Shahbaz Sharif.

Meanwhile, Sindh Chief Minister Qaim Ali Shah announced to go before the Council of Common Interest over the issues of load shedding and payment of dues. “They (center) has faith in a meter reader and not elected representatives,” Shah said.

The Sindh Assembly session has been adjourned till Wednesday.

PM approves appointment of Mukhtar as Chairman HEC

ISLAMABAD: Prime Minister Nawaz Sharif has approved appointment of Mukhtar Ahmed as chairman High Education Commission (HEC), Geo News reported.

Meanwhile, PM Nawaz has appointed Pervez Saeed as Managing Director (MD) House Building Finance Corporation.

NASA approves space station supply launch

CAPE CANAVERAL: NASA is pressing ahead with Monday´s planned launch of a supply ship despite a critical computer outage at the International Space Station, determining the situation is safe.

Mission managers decided Sunday to proceed with the countdown for the SpaceX Dragon capsule, already a month late in delivering more than 2 tons of cargo.

"We´re good to go," said NASA space station program manager Mike Suffredini.

Suffredini noted the many important supplies aboard the Dragon, including a new spacesuit and repair parts for the older spacesuits already in orbit.

Much-needed food is also packed away."There´s a certain amount of urgency to go ahead and get these vehicles" at the space station, Suffredini told reporters.

These shipments have to fit around other space station operations, like crew comings and goings.

"Things start to bunch up," Suffredini said, "and so we´re just trying to fly as soon as we safely can, which is what we believe we´re doing.

"This backup computer, located on the outside of the space station, mysteriously failed to work when activated Friday.

The main computer kept operating perfectly, and the six-man crew was never in any danger.

NASA debated whether to delay the SpaceX mission and, on Sunday, determined the station has sufficient redundancy to safely support the visiting vessel.

A spacewalk will be required, meanwhile, to replace the bad computer. Engineers don´t know why it failed.

Suffredini said the spacewalk will be conducted by a pair of astronauts on April 22, using suits outfitted with new fan components to avoid the near-disaster that occurred last summer.

An Italian astronaut almost drowned when his helmet flooded with water from the suit´s cooling system.

An April 22 spacewalk will give SpaceX two chances to get its unmanned Dragon capsule flying.

Good weather is forecast for Monday´s 4:58 p.m. (2058 GMT) launch. If that doesn´t work, the next launch attempt for the California company´s Falcon rocket would come Friday.

ECNEC approves Rawalpindi-Islamabad Metro Bus Project

ISLAMABAD: The Executive Committee of National Economic Council (ECNEC) approved on Saturday the Rawalpindi-Islamabad Metro Bus Project (Islamabad portion) at a total cost of Rs 23.839 billion.

According to the decision, the Federal Government would contribute Rs 13.419 billion whereas the rest of the amount, Rs.10.419 billion, would be chipped in by the Punjab Government.

The ECNEC, which met here at the Prime Minister office with Finance Minister Mohammad Ishaq Dar in the chair, approved the Metro Bus Project subject to clearance of Environmental Impact Assessment (EIA) by the competent authority.

The Islamabad portion comprising 13.9 kilometers, would include Peshawar Mor Interchange as designed by the Capital Development Authority and 14 bus stations with allied facilities.

The Metro Bus System will be a world class facility being provided to the residents of twin cities, as per international standard and as per the vision of Prime Minister Muhammad Nawaz Sharif.

The construction of long awaited Peshawar Mor Interchange under this project will go a long way in redressing the congestion problem at this intersection, provide relief to the people, and help in smooth flow of traffic during peak hours.

The project will start from I J Principal Road at Faizabad where Rawalpindi portion terminates, and after traversing through IJ Principal Road, 9th Avenue, and Jinnah Avenue, will finally terminate at Pakistan Secretariat.

The project envisages construction of 13.9 KM long dedicated signal free corridor of 9.60 to 10.10 meters width at normal section and from 19.00 to 21.10 meters width at Metro Bus System (MBS) stations and tranches in Islamabad territory.

It will be capable of accommodating articulated buses running simultaneously in both directions.

The meeting was attended by Pervaiz Rashid, Minister for Information, Broadcasting and National Heritage, Ahsan Iqbal, Minister for Planning and Development, Anusha Rehman, Minister of State for Information Technology, federal secretaries and senior officials from federal and provincial governments.

ECNEC approves Stage-1 of Kurram Tangi Dam

ISLAMABAD: Executive Committee of the National Economic Council (ECNEC) Thursday approved Kurram Tangi Multipurpose Dam Stage-1 (Kaitu Weir Irrigation and Power) Project, located in North Waziristan Agency, Federally Administered Tribal Areas (FATA).
In a meeting of ECNEC headed by Minister for Finance, Senator Mohammad Ishaq Dar, the Stage one of the Dam was approved at a reduced cost of Rs 12.662 billion including USAID grant in aid of Rs 9.975 billion.
The main objective of the project is to provide 76.15 cubic-ft/sec assured irrigation water supply to bring 16,380 acres of land under cultivation in FATA and generate 18.9 MW electricity.
The Minister said that location of the project is in FATA area and it is necessary for socio-economic uplift of North Waziristan, therefore, it should be put on fast track.
The Minister added that the project will also provide water for domestic use of 48,500 population.
ECNEC also considered and approved in principle the Revised PC-I of Sindh Water Sector Improvement Project Phase-I (WSIP-I) in the command area of Ghotki feeder, Nara, Fuleli and Akram Wah canals at a reduced cost of Rs 30.353 billion including International Development Association (IDA) loan of Rs 28.840 billion.
The Government of Sindh will return IDA loan from their own resources and reflect its financing in their provincial ADP.
The objective of project is to improve the effectiveness and operational efficiency of water distribution by ensuring the safety of the canal system and delivering due share of water to the farmers at the tail end of the irrigation system.
Moreover, ECNEC also approved Revised PC-I of Gomal Zam Multipurpose Project at revised/rationalized cost of Rs 20.626 billion which include USAID grant in aid of Rs 10.721 billion (US $ 97 million).
Main objective of the project is to harness flow water and conserve the perennial flow for providing assured irrigation water supply of 848 cusecs (24 cumecs) to irrigate 191,139 acres of land including 28,053 acres additional land which falls under the command of Waran Canal System and generate 17.4MW electricity.
ECNEC considered and approved Gomal Zam Command Area Development and On-Farm Water Management for High Value and High Efficiency Agriculture Project, located in D.I. Khan and Tank Districts, at a rationalized cost of Rs.3.73 billion including USAID grant in aid of Rs.2.2 billion.
The project is devised to develop the command area of Gomal Zam Dam through 848 cusecs of sustainable irrigation water supply which will bring 191,139 acres of land under cultivation. The completion date for project is fiscal year 2014- 15.
The meeting was attended by Minister for Planning, Development and Reform Ahsan Iqbal, Minister for Water and Power Khawaja Muhammad Asif, Minister for Information, Broadcasting and National Heritage Pervez Rashid, Minister for Science and Technology, Zahid Hamid, Minister of State for Information Technology, Anusha Rehman, Adviser to Chief Minister Sindh, Syed Murad Ali Shah and senior officials of the Federal and Provincial Governments.

ECNEC approves Stage-1 of Kurram Tangi Dam

ISLAMABAD: Executive Committee of the National Economic Council (ECNEC) Thursday approved Kurram Tangi Multipurpose Dam Stage-1 (Kaitu Weir Irrigation and Power) Project, located in North Waziristan Agency, Federally Administered Tribal Areas (FATA).
In a meeting of ECNEC headed by Minister for Finance, Senator Mohammad Ishaq Dar, the Stage one of the Dam was approved at a reduced cost of Rs 12.662 billion including USAID grant in aid of Rs 9.975 billion.
The main objective of the project is to provide 76.15 cubic-ft/sec assured irrigation water supply to bring 16,380 acres of land under cultivation in FATA and generate 18.9 MW electricity.
The Minister said that location of the project is in FATA area and it is necessary for socio-economic uplift of North Waziristan, therefore, it should be put on fast track.
The Minister added that the project will also provide water for domestic use of 48,500 population.
ECNEC also considered and approved in principle the Revised PC-I of Sindh Water Sector Improvement Project Phase-I (WSIP-I) in the command area of Ghotki feeder, Nara, Fuleli and Akram Wah canals at a reduced cost of Rs 30.353 billion including International Development Association (IDA) loan of Rs 28.840 billion.
The Government of Sindh will return IDA loan from their own resources and reflect its financing in their provincial ADP.
The objective of project is to improve the effectiveness and operational efficiency of water distribution by ensuring the safety of the canal system and delivering due share of water to the farmers at the tail end of the irrigation system.
Moreover, ECNEC also approved Revised PC-I of Gomal Zam Multipurpose Project at revised/rationalized cost of Rs 20.626 billion which include USAID grant in aid of Rs 10.721 billion (US $ 97 million).
Main objective of the project is to harness flow water and conserve the perennial flow for providing assured irrigation water supply of 848 cusecs (24 cumecs) to irrigate 191,139 acres of land including 28,053 acres additional land which falls under the command of Waran Canal System and generate 17.4MW electricity.
ECNEC considered and approved Gomal Zam Command Area Development and On-Farm Water Management for High Value and High Efficiency Agriculture Project, located in D.I. Khan and Tank Districts, at a rationalized cost of Rs.3.73 billion including USAID grant in aid of Rs.2.2 billion.
The project is devised to develop the command area of Gomal Zam Dam through 848 cusecs of sustainable irrigation water supply which will bring 191,139 acres of land under cultivation. The completion date for project is fiscal year 2014- 15.
The meeting was attended by Minister for Planning, Development and Reform Ahsan Iqbal, Minister for Water and Power Khawaja Muhammad Asif, Minister for Information, Broadcasting and National Heritage Pervez Rashid, Minister for Science and Technology, Zahid Hamid, Minister of State for Information Technology, Anusha Rehman, Adviser to Chief Minister Sindh, Syed Murad Ali Shah and senior officials of the Federal and Provincial Governments.

Banco Popolare approves cap hike to be launched on March 31

LODI: The shareholders of Italy's Banco Popolare on Saturday gave final approval to a 1.5 billion euro ($2.1 billion) capital increase to be launched on March 31.
The rights issue will end on April 17, the cooperative lender's Chief Executive Pier Francesco Saviotti said on the sidelines of the shareholders' meeting.
The fundraising will give the bank a core capital ratio, indicating its high quality or low-risk capital, of 10.8 percent, higher than the 10 percent level it indicated a month ago, and well above the minimum threshold of 8 percent set by the European Central Bank. Banco Popolare is one of 15 Italian lenders under review by the ECB in a Europe-wide review of the sector.
The move to boost the capital base could also give Italy's number four lender fresh funds to acquire a rival. If an opportunity arises, "we will not backtrack," said Saviotti, speaking about a possible acquisition among Italian mid-sized lenders.
However the CEO denied contacts with smaller rival Veneto Banca, which is in search of a strong partner. The shareholders meeting also approved a reverse stock split of the bank's shares at a ratio of one new common share every 10 outstanding shares.
Banco Popolare reported on Friday a full-year net loss of 606 million euros for 2013 after heavy writedowns on bad debts. Saviotti said he was confident the bank could return to pay a dividend in 2015.
A shareholders meeting scheduled for March 29 is expected to appoint Saviotti and the bank's Chairman Carlo Fratta Pasini for a new term, Fratta Pasini said.