November, 29, 2023
Economic Summary Approval Process: ECC to Supervisory Board

Economic Summary Approval Process: ECC to Supervisory Board

Infostani Sources- The Ministry of Economic Petroleum is in the final stages of preparing to impose additional economic burdens on gas prices for consumers starting on October 1. Sources within the Ministry of Petroleum have indicated that a proposal to increase gas prices by up to 200% has been formulated. Encompassing a fixed monthly economic increment across four components, primarily targeting protected gas consumers. According to these economic sources. The plan involves raising the fixed economic charge from 10 rupees to 400 rupees.  Domestic consumers will witness an economic price surge of 172%.

Furthermore, the proposal suggests an economic price increase of up to 33.198% for other consumer categories. Insiders have noted that the plan aims to initiate the gas price adjustments from October 1. Following approval by the Economic Coordination Committee. The final green light for the economic gas price hike will be granted by the Supervisory Board.

Economic challenges more: Prime Minister, good direction by speeding up the privatization process

Caretaker Prime Minister Anwar-ul-Haq has stated that economic challenges threaten the existence of Pakistan. The country must enforce the law. The caretaker government has clamped down on the illegal currency market. Previous governments did not focus on currency smuggling. If FIA and Customs were working properly, there would be no need to take help from the army.

In an interview with private TV, he said that voters have more responsibility. But people vote only based on performance. Now Balochistan is not a part of the Awami Party, and people are angry and happy in coalition governments. There was a very good relationship with the PTI government. But the last months of the PTI government did not have a good relationship.

Meeting of Political Leaders on Caretaker Prime Minister and Election Process

Political parties have to bring democracy within themselves. Chairman PTI, Maryam Nawaz, Bilawal Bhutto, and Maulana Fazlur Rehman had a meeting before assuming the post of Caretaker Prime Minister. Do not even think of joining any political party, may join a party or form a new party after the term is over. The caretaker prime minister said about the May 9 cases that it is a legal process. By this legal process, if anyone is prevented from participating in the election, then the process of law will take place. All parties including PTI, and ANP have the right to participate in the election.

Further, according to the statement issued by the media wing of the Prime Minister’s Office, the caretaker Prime Minister has said that the process of privatization of PIA and other loss-making state-owned enterprises should be accelerated.Economic Summary Approval Process: ECC to Supervisory Board


Recent Developments in Pakistan’s Economic and Diplomatic Relations

The country is suffering from economic difficulties and the deficit of the national institutions is leading to an increase in these difficulties. go Further, Chinese Ambassador Jiang Zewing met the Prime Minister. On this occasion, the caretaker Prime Minister said that Pakistan and China have a unique relationship as reliable friends. He said that Pakistan and China are fully committed to ensuring the success of CPEC, and the government will continue to work closely with the Chinese authorities for the timely completion of the projects. Pakistan’s designated ambassador to Morocco, Sami Malik, met the Prime Minister.

The Prime Minister directed Sami Malik to further improve diplomatic relations between Pakistan and Morocco and take steps to increase cooperation between the two countries in various fields. Later, a delegation of Balochistan led by the former Chief Minister of Balochistan Dr. Abdul Malik met the Caretaker Prime Minister Anwarul Haq. Foreign investment in the mining sector of Balochistan under the Special Investment Facilitation Council was welcomed at the meeting.

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