Govt attaches top priority to information technology sector

ISLAMABAD (APP): The government lays special emphasis on the development of information technology so that its exports could be enhanced, Radio Pakistan quoted government officials as saying on Saturday. According to them, over Rs5 billion have been allocated in the current fiscal year for the development of information technology industry, the Radio said. Giving details of the information technology related projects to be undertaken in the current fiscal year, the officials said that a software technology park would be established in the federal capital with the assistance of Korea. “The information technology park will attract international companies to showcase their software and hardware technologies in Pakistan and thus help boost the country’s information technology exports,” they informed. The officials said the government was also taking steps to ensure provision of broadband and telecommunication services to far flung and backward areas of the country.

 China keen to share fruits of CPEC with Pakistan: Kashgar commissioner

Xinjiang (Online): Commissioner Kashgar Administration Paerhati Rouzi said on Saturday that the China-Pakistan Economic Corridor (CPEC) would bring economic revolution in the region and China was keen to share the fruits of its prosperity with Pakistan. During a meeting with Peshawar Town-1 Nazim Zahid Nadeem and Syed Ali Nawaz Gilani, Pakistan China Friendship Association (PCFA)-Khyber Secretary-General in Xinjiang, he said that 12th Kashgar Central and South Asia Commodity Fair 2016 was another effort from the central government of China to accelerate the China-Pakistan Economic Corridor process as Kashgar was a very important city on the historic silk route in China and had been the centre of business activities for many centuries. He offered all support to further strengthen the Pak-China economic relations and said that the China-Pakistan Economic Corridor would bring economic development and prosperity to the region.

 Xi optimistic about China's economic fundamentals

BEIJING (INP): China's fundamentals for long-term economic growth remain sound, President Xi Jinping told economists, government officials and entrepreneurs at a symposium here. “Economic performance remains stable on the whole, and in line with expectations, as the economic structure continues to improve,” Xi said. For the longer term, Xi said the economy had intrinsic tenacity, huge potential and ample leeway. “China will persist with proactive fiscal policy and prudent monetary policy, while pushing the supply-side structural reforms,” he added. Although new engines of economic growth are picking up steam, Xi said the transition from traditional to new engines took time. The president said there were various economic trends, and the country would use economic policies to stabilise expectations. Latest data showed continued downward pressure on the economy with the manufacturing-sector purchasing managers' index down slightly in June.

GDP expanded 6.7 percent year on year in Q1, the lowest level since the global financial crisis in early 2009, but still within the 2016 target range of between 6.5 percent and 7 percent. Second-quarter GDP is due on July 15.

 End to S Punjab backwardness pledged

BAHAWALNAGAR (Staff Reporter): The Punjab government is committed to eradicate sense of deprivation and backwardness in South Punjab (SP) and several development schemes have been launched especially in district Bahawalnagar. According to official sources, more than Rs5,025 million was approved for 749 different development schemes launched in the SP during the last fiscal year. 90 percent work of the schemes has been completed so far while remaining would be completed next year. Acting DCO Tariq Bukhari told this correspondent that the government has already approved Rs9,000 million for the next financial year and the funds would be released for 899 different development schemes in four phases. He informed that 80 schemes of ADP, seven schemes of Chief Minister's Road Programme, 12 schemes for the provision of clean drinking water, 200 projects under District Development Programme and 100 schemes of reconstructing dangerous buildings have been approved.