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Changing economy’s DNA must for inclusive, sustainable growth: Aurangzeb – Pakistan Observer

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Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Wednesday reaffirmed the government’s commitment to implementing its reform agenda and meeting structural benchmarks to lend permanence to macroeconomic stability, promote inclusive, sustainable growth and end Pakistan’s reliance on external borrowing.

He made it clear that the only way this goal could be successfully achieved, was by changing the DNA of the economy by moving it away from its usual boom-and-bust cycles and leading it to a sustained export-led growth, encouraging investment and FDI flows into export-oriented sectors and getting access back to the international capital market.

He made this observation during a meeting with a high-level delegation from the Asian Development Bank that called on the Minister at Finance Division, according to press release issued by Finance Ministry.

The visiting delegation was led by Donald Bobiash, Executive Director of Asian Development Bank and Shigeo Shimizu, Executive Director Asian Development Bank while Yong Ye, Country Director Asian Development Bank and other senior officers from the ADB and Finance Division were also present.

Auragzeb shared with them a roundup of ongoing structural reforms and the resultant growth trajectory and improvement in key economic indicators. He particularly highlighted an efficient management of twin deficits backed by buoyant remittances and healthy exports, a steep fall in inflation from a 38 percent high of last year to a 44-month low of 6.9 percent in September last, and reduction in the policy rate by 450 bps with expectations of more cuts in upcoming months.

The Minister also mentioned the stability in exchange rate, growth in forex reserves to $10.7 billion after the signing of the IMF accord and the stock exchange index crossing 85,000 figure to indicate a growing business confidence and favourable investment climate leading to further institutional flows into the country. He credited Prime Minister Shehbaz Sharif with personally overseeing and spearheading the implementation of wide-ranging structural reforms in key sectors, including taxation, energy, SOEs, privatization, rightsizing of government and pension reforms.

He called the recent signing of a National Fiscal Pact between Federation and the provinces a milestone in achieving harmony in driving the pace of structural reforms and incentivizing the provinces to mobilise greater tax resources, rationalize their development expenditures and improve their governance to meet the development goals. The minister thanked ADB for its continued support to Pakistan’s development agenda and its assistance provided in key sectors. He said Pakistan looked forward to further deepen its partnership with the ADB through enhanced assistance and support for its reform programme.

On the occasion, Donald Bobiash, Executive Director of Asian Development Bank, Shigeo Shimizu, Executive Director Asian Development Bank and other ADB officials expressed their appreciation for the bold reforms undertaken by Pakistan for stabilizing its economy and achieving sustainable growth. They reaffirmed ADB’s support for ongoing reforms and strengthening the country’s fiscal framework. They also assured the bank’s support for Pakistan’s development goals and its efforts for inclusive growth, innovation, and climate action.—APP

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Pakistan

PTCL Group launches Pakistan’s first 800G WDM system in partnership with Huawei – Pakistan Observer

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PTCL Group, Pakistan’s top integrated ICT provider, has achieved a major milestone by successfully launching the country’s first 800 Gbps per wavelength Super C+L Wavelength Division Multiplexing (WDM) system. This advanced technology enables a data transmission capacity of 64 Tbps per fiber, with the potential to reach up to 96 Tbps, marking a significant step forward for Pakistan’s digital infrastructure.

Developed in collaboration with Huawei, PTCL’s Super C+L system supports a broader optical spectrum of up to 12 THz, compared to the 4.8 THz provided by traditional systems. It combines high-speed 800 Gbps per wavelength, ultra-wide Super C+L spectrum, and advanced Flexible Grid optical switching. This breakthrough positions PTCL at the forefront of Pakistan’s digital transformation, preparing the network for future technologies like Fixed 5.5G (F5.5G) and enabling faster, smarter, and more efficient connectivity.

Jafar Khalid, Group Chief Technology and Information Officer, PTCL & Ufone 4G, commented: “Our focus is on advancing cutting-edge technology while maintaining sustainability. This upgrade will improve service quality, lower latency, and enhance the overall user experience for both consumers and enterprises, while reducing our environmental footprint. It will also help us manage the growing demand for data traffic across different customer segments with reliable, cost-effective solutions.”

Victor Zhou, President of Huawei’s Optical Domain, stated: “We are proud to support PTCL in building this high-speed optical network, which will boost Pakistan’s digital growth and sustainability efforts.

 

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Pakistan

CAMON 30S: Powered by Sony AI Camera for exceptional photography experience – Pakistan Observer

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Observer Report

Islamabad

In the age of smartphones, camera quality has evolved from a mere convenience to a defining feature that influences purchasing decisions. The era when phones were merely used for communication is long past—today, they have transformed into powerful devices capable of capturing high-resolution images and videos that stand on par with professional cameras.

With the rise of social media, content creation, and virtual communication, the importance of a high-quality smartphone camera has never been more significant. Whether it’s for capturing everyday moments, enhancing personal branding, or producing creative content, having a top-tier camera in your pocket has become essential in navigating our visually-driven world.

TECNO Pakistan has consistently positioned itself as a trailblazer in the world of technology, staying one step ahead of its competitors by introducing cutting-edge innovations that capture the attention and admiration of consumers.

The brand has mastered the art of blending state-of-the-art technology with top-tier specifications, all while offering products at price points that were once considered unimaginable. This unique approach not only makes high-quality devices accessible to a broader audience but also creates a loyal customer base that appreciates the perfect balance of affordability and performance.

The launch of the new CAMON 30S by TECNO illustrates how you can enjoy a remarkable camera experience packed into a sleek, robust device that’s ready to go wherever life takes you, priced at only 59,999 PKR.

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Tailored IPP audits, SEZ development vital for efficient power sector management – Pakistan Observer

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Ijaz Kakakhel
Islamabad

Targeted solutions for power generation issues, based on case-by-case evaluations and audits of independent power producers (IPPs), along with strategic efforts to optimize the use of the country’s installed generation capacity and stimulate electricity demand through special economic zones (SEZs), can lead to more equitable and efficient outcomes for both producers and consumers.

To achieve targeted solutions, a more transparent and tailored approach is essential. A case-by-case evaluation of IPPs is crucial, as each operates under distinct financial and operational conditions. Similarly, conducting phase-wise, priority-based audits of individual IPPs would more effectively address contractual and operational challenges by focusing on their specific issues.

Moreover, efforts should prioritize increasing electricity demand, particularly by accelerating the development of SEZs, which offer a strategic opportunity to boost power consumption and improve sectoral efficiency.

This was discussed during a consultative meeting on “Unpacking the Issues in IPP Contracts: Insight from Experience and Emerging Scenarios,” held at the Institute of Policy Studies (IPS), Islamabad. The insights were shared by NaveedSiddique, a consultanting Engineer with diversified experience in various subsector of power sector of Pakistan. including Ministry, regulatory authority, vertically integrated utility, and IPPs, Khalid Rahman, chairman IPS, Mirza Hamid Hassan, former federal secretary, water and power, and AsadMahmood, a renewable energy expert.

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Govt to strengthen anti-smuggling efforts – Pakistan Observer

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In a decisive move to intensify the government’s ongoing anti-smuggling campaign, Prime Minister Muhammad Shehbaz Sharif directed all relevant government bodies, particularly the Federal Board of Revenue (FBR) and Pakistan Customs, to take stringent measures to combat smuggling across the country.

One of the key amendments reinforcing these efforts is the recent change to S.R.O.499(I)/2009 dated 13-06-2009, introduced via SRO 1619(I)/2024 dated 03-10-2024, which empowers authorities to confiscate vehicles and other conveyances used in transporting smuggled goods.

This amendment, announced earlier this month, is a reflection of the government’s firm resolve to eradicate smuggling, which has long plagued the nation’s economy, depriving it of critical revenue while encouraging the informal market.

Under the amendment, all conveyances involved in the transportation of smuggled goods are now subject to immediate confiscation without the option for redemption fine.

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