Govt’s subsidy plan raises red flags
政府的补贴计划引发了危险信号
ISLAMABAD: The chances of finalising the ninth review of the troubled $6.5 billion Extended Fund Facility (EFF) from the International Monetary Fund (IMF) soon got bleak after the global lender on Monday raised questions over the government’s new fuel subsidy scheme.
The development came as the government decided to dole out subsidies worth billions of rupees on petrol as well as Rs73 billion on wheat flour that could potentially lay landmines in the path of the Fund’s programme.
Instead of putting its house in order, the government announced Rs50 per liter subsidy for owners of up to 800cc cars and motorcyclists while Khyber-Pakhtunkhwa and Punjab will give Rs73 billion in wheat flour subsidy cumulatively.
Sources in the finance ministry said that the global lender has inquired about the source of financing of the Prime Minister’s petrol scheme. The IMF also asked about the mechanism in implementing the new subsidy programme, they added.
伊斯兰堡：在国际货币基金组织（IMF）周一对政府新的燃料补贴计划提出质疑后，对陷入困境的65亿美元扩展基金机制（EFF）进行第九次审查的机会很快变得暗淡。
这一发展是在政府决定发放价值数十亿卢比的汽油补贴和730亿卢比的小麦粉补贴时出现的，这些补贴可能在基金组织的计划道路上埋下地雷。
政府没有把自己的事情处理好，而是宣布为800cc以下汽车的车主和摩托车手提供每升50卢比的补贴，而开伯尔-普赫图赫瓦和旁遮普省将累计给予730亿卢比的小麦粉补贴。
财政部消息人士称，这家全球*款贷**机构已经询问了总理汽油计划的资金来源。他们补充称，IMF还询问了实施新补贴计划的机制。
Tyre maker suspends production in Pakistan
轮胎制造商暂停在巴基斯坦的生产
KARACHI: The crisis in the automobile sector continues to metastasise, with local tyre manufacturing Ghandhara Tyre and Rubber Company Limited (GTR) announcing its second plant shutdown for 2023 and Pak Suzuki Motor Company Limited (PSMCL) stating it has been hit adversely due to its inability to settle foreign currency liabilities.
In a stock filing on Monday, GTR said it has decided to temporarily suspend production activities from March 24 to April 3, 2023.
The company said the prevailing economic conditions and their impact on banks’ ability to issue letters of credit for raw material imports have severely disrupted its supply chain, rendering it unable to continue production. GTR had earlier shut shop from February 13-17 for same reasons.
卡拉奇：汽车行业的危机继续恶化，当地轮胎制造商犍陀罗轮胎橡胶有限公司(GTR)宣布其2023年第二次工厂停产，巴基斯坦铃木汽车有限公司(PSMCL)表示，由于无法偿还外汇债务，该公司受到了不利影响。
在周一提交的一份股票文件中，GTR表示它已决定从3月24日至2023年4月3日暂时停止生产活动。
该公司表示，目前的经济状况及其对银行开具原材料进口信用证能力的影响，严重扰乱了其供应链，使其无法继续生产。早些时候，GTR公司由于同样的原因在2月13-17日关闭了工厂。
Pakistan does not fully utilise deep seas business
巴基斯坦没有充分利用深海商业
Despite its prominent coastline and geostrategic significance, Pakistan has failed to capitalise on the potential of its deep seas shipping business. With ports at Karachi, Qasim and Gwadar, the country conducts more than 95% of its trade by sea. It transports over 15 million barrels of crude oil from the Gulf States to the Pakistani shore every day.
However, the country’s Exclusive Economic Zone (EEZ) is limited to a maximum length of 350km (290,000 square meters) due to the median line principle which establishes the EEZ perimeter at 200 nautical miles from the coasts baseline. This means the EEZ barely covers the distance between Karachi and Lahore, leaving everything else outside of the EEZ.
Pakistan is missing out on a great opportunity to earn up to $15 billion annually by not developing its deep seas shipping business. To further expand the EEZ, the country should consider other concepts, such as the continental shelf principle. Doing so would open up a world of possibilities for Pakistan, allowing it to reap the benefits of its strategic location and capitalise on its potential maritime economy.
In order to protect its exclusive right to explore and utilise the resources within its Exclusive Economic Zone (EEZ), Pakistan must significantly expand its EEZ. This is essential for maintaining access to global trade lanes and safeguarding its fisheries, as well as for improving its marine security and safeguarding its economic interests in the area.
尽管巴基斯坦拥有突出的海岸线和地缘战略意义，但却未能利用其深海航运业务的潜力。在卡拉奇、卡西姆和瓜达尔的港口，该国95%以上的贸易是通过海上进行的。它每天将超过1500万桶原油从海湾国家运到巴基斯坦海岸。
然而，该国的专属经济区（EEZ）被限制在最大长度为350公里（29万平方米），这是因为中间线原则将专属经济区的周长确定在距离海岸基线200海里处。这意味着专属经济区几乎不包括卡拉奇和拉合尔之间的距离，这导致未被覆盖地区的资源在专属经济区之外。
由于没有发展其深海航运业务，巴基斯坦正在错失每年可赚取150亿美元的大好机会。为了进一步扩大专属经济区，该国应考虑其他概念，如大陆架原则。这样做将为巴基斯坦开辟一片天地，使其能够受益于其战略位置，并利用其潜在的海洋经济。
为了保护其在专属经济区内勘探和利用资源的专属权利，巴基斯坦必须大幅扩大其专属经济区。这对于保持全球贸易通道和保障其渔业，以及改善其海洋安全和保障其在该地区的经济利益至关重要。
Steel industry: FBR asked to introduce interim tax relief measures
钢铁行业:FBR被要求出台临时减税措施
ISLAMABAD: The steel industry has asked the Federal Board of Revenue (FBR) to urgently introduce interim tax relief measures to ensure availability of steel scrap till issue of letters of credit (LCs) is resolved.
In this connection, Afaque Ahmed Qureshi, Member Inland Revenue (Policy) FBR has been requested to temporarily reduce withholding tax to 0.25 percent on scrap supplies and one percent extra sales tax on supply from non-registered scrap dealers till resolution of the issue of the LCs by the State Bank of Pakistan (SBP).
The industry has informed the FBR Member that the steel industry is facing crisis like situation and is moving towards closure due to non-opening of LCs. As a result, at this point in time, the import of scrap has come to grinding halt which is paralyzing the production activities of steel sector. The steel industry is largely dependent on imported raw material because the availability of steel scrap through local source is about 1.5 metric tons (MTs) whereas the total demand is nearly 6-7 metric tons.
伊斯兰堡：钢铁行业要求联邦税收委员会（FBR）紧急推出临时减税措施，以确保废钢的供应，直到信用证问题得到解决。
在这方面，联邦税务局（政策）成员Afaque Ahmed Qureshi被要求暂时将废钢供应的预扣税降至0.25%，并对非注册废钢经销商的供应降低1%的额外销售税，直到巴基斯坦国家银行（SBP）解决信用证问题。
业界已告知FBR成员，钢铁行业正面临着类似危机的情况，由于无法开立信用证，正在走向倒闭。而在这个时间点上，废钢的进口已经停止，这使得钢铁行业的生产活动陷入瘫痪。钢铁行业在很大程度上依赖进口原材料，因为当地的废钢供应量约为1.5公吨，而总需求量约为6-7公吨。
Green energy key to reducing power woes
绿色能源是减少电力困境的关键
ISLAMABAD—Enabling renewable energy projects under the RE policy will not only reduce Pakistan’s reliance on imported fuel but also help bring in foreign investment. Thirteen projects of wind and solar energy (650-megawatt) worth $600 million are presently awaiting final approval from the energy ministry.
These projects have been developed under the RE policy 2006 and approved by the National Transmission and Dispatch Company (NTDC) and National Electric Power Regulatory Authority (NEPRA). Talking to WealthPK, energy expert Mustafa Abdullah said in the current energy crisis and economic situation, these projects will help recover the energy shortfall on fast-track basis by adding a cheaper source of electricity for the end consumer.
He said currently, the cost of electricity in Gwadar was around Rs25 per unit whereas the production of energy through renewable sources will cost Rs11 per unit. He said opting for power generation through the RE energy sources instead of importing energy or fuel from neighbouring countries could cost less to the government. “Currently, Makran Division is being supplied electricity through Iran. Under the agreement, 200MW power is to be provided, but most of the time, it is just 10 to 15 megawatts,” he added. He opined that technological innovation and the urgent global imperative to decrease greenhouse gas emissions had prompted a worldwide shift from using conventional fuel to opting for renewable energy sources and Pakistan was no exception.
伊斯兰堡--根据可再生能源政策扶持，可再生能源项目不仅将减少巴基斯坦对进口燃料的依赖，而且还有助于引进外国投资。价值6亿美元的13个风能和太阳能项目（650兆瓦）目前正在等待能源部的最后批准。
这些项目是根据2006年可再生能源政策开发的，并由国家输电和调度公司（NTDC）和国家电力监管局（NEPRA）批准。能源专家Mustafa Abdullah在接受WealthPK采访时表示，在当前的能源危机和经济形势下，这些项目将通过为终端消费者提供更便宜的电力来源，帮助快速恢复能源短缺。
他指出，目前瓜达尔的电力成本约为每单位25卢比，而通过可再生能源生产能源的成本为每单位11卢比。他表示，选择通过可再生能源发电，而不是从邻国进口能源或燃料，可以减少政府的成本。"目前，马克兰省的电力是通过伊朗供应的。根据协议，将提供200兆瓦的电力，但大多数时候，它只有10到15兆瓦。"他认为，技术革新和全球减少温室气体排放的迫切要求促使全世界从使用传统燃料转向选择可再生能源，巴基斯坦也不例外。
BRI’s 10 years: Gwadar Port’s “King Grass” booster for livestock, poverty eradication
“一带一路”十年: "草王 "—瓜达尔港的畜牧业和减少贫困的助推器
Among 10 years’ success stories of BRI that relates to poverty alleviation, de-desertification and livestock economy, “King Grass” pioneered by Chinese Technology is emerging as super food for animals with impactful features of cash crop and land fertility in Gwadar as well as Pakistan.
After successful growth of King Grass in the length and breadth of Free Zone area of Gwadar Port, local enterprises are motivated to seek assistance of Chinese JUNCAO technology to grow King Grass to boost their business profitability.
As per pilot project, King Grass also known as magic grass, was grown and used to raise livestock in cattle farm established in Gwadar Port more than two years ago.
“Throughout the time span, 80 percent proceed had been utilized as a food for all breeds of goats. Not only animals turned fattened but also stayed fit without suffering from any lethal disease,” Free Zone official told Gwadar Pro.
在BRI十年来与扶贫、脱贫和畜牧经济有关的成功案例中，由中国技术开创的 "草王 "（尖毛草）正在瓜达尔和巴基斯坦成为具有经济作物和土地肥力价值的超级动物饲料。
尖毛草在瓜达尔港自由区内种植成功后，当地企业积极寻求中国菌草工程技术研究中心的帮助，种植草王以提高其商业利润。
根据试点项目，两年多前在瓜达尔港建立的养牛场种植了尖毛草，也被称为魔草，并用于饲养牲畜。
"在整个时间跨度中，80%的收益被用作所有品种山羊的饲料。自由区官员向瓜达尔记者表示："不仅动物变肥了，而且还保持健康，没有任何致命的疾病。