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Pakistan set to elevate Gilgit Baltistan to provincial status
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Pakistan is only granting provisional provincial status to Gilgit-Baltistan
ISLAMABAD (APP) – Pakistan is set to elevate Gilgit Baltistan to provincial status and with this single move it will be able to meet at least seven decades old demand of people of Gilgit-Baltistan to merge with main land constitutionally, secure vital geo-strategic route of China Pakistan Economic Corridor and protect tourism, economic water and energy interests with construction of Bunji and Diamer-Bhasha dams.
However, few quarters have raised objections to the move on varying narratives which need to be addressed. All stakeholders including key political parties have agreed to the proposal of grant of provisional provincial status to the Gilgit Baltistan. Decision will meet long term aspirations of people and will help address local concerns and issues of representation.
CPEC projects progressing at fast pace under PTI government: Asad Umar
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Monday Apr 05, 2021
Federal Minister for Planning, Development & Special Initiatives Asad Umar addressing to a ceremony of the first consignment of plant and machinery at KPT for Century Steel to setup steel mill under CPEC at Rashakai SEZ. -APP
Asad Umar says CPEC is now entering into the most important second phase and its projects are now not limited to infrastructure only.
Says work for the provision of basic necessities, including electricity and others, at the Rashakai SEZ is underway at a fast pace.
Minister says the Century Steel, a Chinese firm, with an investment of $240 million, will set up a steel mill in Rashakai SEZ.
Central bank independence: consequences for economy
SBP has enough autonomy as compared with many other central banks including in India and Malaysia
Earlier, the State Bank of Pakistan (SBP) had cut the benchmark interest rate by an aggressive 625 basis points during March-June 2020 to the current 7%. PHOTO: FILE
ISLAMABAD:
The federal cabinet has approved the SBP Amendment Bill 2021 without a debate. The bill has been placed in parliament for approval and seeks absolute autonomy for the State Bank of Pakistan (SBP) under the International Monetary Fund (IMF) loan conditions.
There has been a heated debate on giving further autonomy to the SBP since it has been seen as an attempt to hand over financial control of the country from the government of Pakistan to the IMF.
2021-04-05 08:06:14 GMT2021-04-05 16:06:14(Beijing Time) Xinhua English
by Misbah Saba Malik, Li Hao
ISLAMABAD, April 5 (Xinhua) Shazia Tariq, a 28-year-old tailor in the Gwadar district of Pakistan s southwest Balochistan province, is elated on finding a platform to earn good money and polish her skills in a tailoring center founded by Chinese brothers and sisters in her hometown. I had been a tailor since years and I stitched hundreds of dresses for people living in my village, Tariq told Xinhua. When I heard about job creation at the tailoring center in my area, I jumped at the opportunity and now it is providing me a chance to further polish my skills besides giving me monetary benefits.