Anjum Wahab

President All City Tajir Ittehad taken under arrest for defying lockdown

KARACHI: President All City Tajir Ittehad was taken under arrest by local police on Wednesday over allegations of defying coronavirus lockdown restrictions, ARY News reported.

The police took President All City Tajir Ittehad Hammad Poonawala into custody along with four others.

Read More: Karachi traders irked as deadline to resume businesses expires

The traders had forcibly opened shops disregarding government orders, the police therefore took action and ‘Iron Market’ area of the metropolis was completely shut down.

All City Tajir Ittehad members have claimed that the police roughed them up and forced them to shut down shops.

Karachi traders summoned an emergency meeting earlier in the day after their deadline to the Sindh government to resume businesses in the metropolis expired yesterday.

The Sindh government had asked the traders to wait till Tuesday before they finalise the SOPs needed to resume businesses.

“We will finalize the next move if any hindrance from the government is created in refraining us from opening our shops,” said President Sindh Tajir Ittehad Jameel Paracha.

Read More: COVID-19: Imran Ismail asks traders to submit SOPs for resuming businesses

He said that they had to stop paying power dues and expel their employees to overcome the financial constraints faced due to coronavirus lockdown.

Paracha said that the provincial ministers Saeed Ghani and Nasir Hussain Shah were not responding to their phone calls.

April 22, 2020
Karachi’s district to provide coronavirus test reports within 10 minutes

KARACHI: The reports of the coronavirus test in District South of the city will now be provided within 10 minutes, a step that would improve testing process in city that has witnessed most of the cases in the province, ARY NEWS reported.

The process was witnessed by Special Assistant to CM Sindh Waqar Mehdi, who underwent the test at the facility in district South.

The special assistant, who tested negative, was provided with test results within 10 minutes.

Later, Waqar Mehdi chaired a meeting of rapid response coronavirus test where Deputy Commissioner (DC) South briefed that he had formed special teams to conduct rapid testing in the district.

“We will try to conduct maximum testing in the district using this process,” he said.

It was also decided to increase the number of isolation wards in district South to provide better facilities to those contracting the virus.

Earlier in the day, Chief Minister Sindh Syed Murad Ali Shah on Saturday said that 138 new cases of coronavirus have been reported in the province after tests were performed on 2217 suspected patients.

Read More: 400 patients recovered at Sukkur isolation centre, says health official

In a video message, the chief minister said that one more patient died during last 24-hours, bringing the provincial tally to 48 as overall 2355 are infected from the virus.

“11 people recovered from the infection in 24-hours as the total number of patients who recovered in the province now stand at 592,” he said.

Murad Ali Shah expressed his concern over rising number of coronavirus cases from populated areas of the South and East districts in Karachi and said that more cases have popped up from Lyari, Kharadar and Bihar Colony areas.

“We are improving the testing capacity in slum areas of the city,” he said but warned that the situation could only be tackled by maintaining social distancing.

April 18, 2020
FBR extends sales tax, federal excise return filing date

ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday extended the last date for payment and submission of sales tax and federal excise return for the tax period of March 2020.

“In exercise of the powers conferred under section 74 of the Sales Tax Act, 1990 and section 43 of the Federal Excise Act 2005, the Federal Board of Revenue is pleased to extend the date of payment & submission of Sales Tax and Federal Excise Return for the tax period of March, 2020,” read an official notification.

Read More: FBR decides to shun paperwork over coronavirus fear

The last date for payment of sales tax and federal excise duty was extended to April 27, whereas the deadline for submission of sales tax and federal excise return was extended until April 30, as per the notification.

Read More: ECC approves Rs4152 million grant for FBR

April 18, 2020
Sindh govt gives conditional permission to reopen specific industries

KARACHI: The Sindh government has granted conditional permission to specific industries to resume their operations amid coronavirus lockdown, ARY News reported on Wednesday.

A delegation of industrialists has met Sindh chief secretary Syed Mumtaz Ali Shah and provincial minister Jam Ikramullah to apprise them regarding the issues amid strict lockdown.

The industrialists have been handed over standard operating procedures (SOPs) to be followed after opening their factories.

Read: Sindh to remain in ‘strict lockdown’ for next two weeks: CM Murad

During the meeting, Mumtaz Ali Shah said those industries allowed to resume operations were bound to implement the SOPs of the government, whereas, the industrialists will have to given an undertaking regarding the procedures. Moreover, the owners will also be restricted to provide complete details of their workers, he said.

The chief secretary added that the ongoing restrictions have given positive results to contain the pandemic and the government will ensure the protection of labourers.

The industrialists have also supported the coronavirus lockdown in the meeting and assured to follow the SOPs designed by the government.

Read: Sindh govt extends closure of its offices till April 30

It is pertinent to mention here that the Association of Industry has sought applications from its members and sent letters to the provincial labour secretary, Sindh Industrial Trading Estates (S.I.T.E), Korangi, North Karachi and other bodies.

A sample application was also sent along with the letter dispatched to different industry owners.

Read: KP govt to observe partial lockdown till April 30 amid COVID-19 pandemic

It emerged that the provincial government received more than 450 applications to reopen industries including 350 from Karachi and around 100 from Hyderabad, Nooriabad, Kotri and other parts of Sindh.

The applications have been forwarded to Trade Development Authority (TDAP).

Lockdown extension

Earlier in the day, Sindh Chief Minister Murad Ali Shah announced that strict lockdown will continue across the province for another two weeks in order to control the spread of coronavirus cases.

Addressing a press conference along with other provincial ministers in Karachi, CM Murad said that the restrictions during the lockdown, which has been extended for the next two weeks, will be tougher than before.

“Strict action will be taken against all those sectors who will not follow the standard operating procedures (SOPs) laid out by the government,” warned CM Murad.

Tailors, mechanics, barbers and auto part repair shops will remain closed until April 30, he said, adding that ban on pillion ridding will remain in place.

April 15, 2020
SBP introduces new refinance scheme to avoid layoff of workers

KARACHI: To support the employment of workers in the face of economic challenges posed by the spread of COVID-19, the State Bank of Pakistan (SBP) has introduced a temporary refinance scheme for businesses entitled Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business Concerns, ARY NEWS reported.

The core objective of this facility is to incentivize businesses to not lay off their workers during COVID-19 Pandemic.

The scheme will be available to all businesses in Pakistan through banks and will cover all types of employees including permanent, contractual, daily wages as well as outsourced workers.

The scheme will provide financing for wages and salaries expense for three months from April to June 2020 for those businesses which do not layoff their employees for these three months.

The mark-up on the loans under this scheme will be up to 5 percent. Borrowers that are on the active taxpayers list, will be able to get loans at a further reduced mark-up rate of 4 percent.

The scheme has been designed to give preference to smaller businesses. Businesses with a three-month wage and salary expense of up to Rs. 200 million will be able to avail the full amount of their expense in financing while those having greater expense than Rs 500 million will be able to avail up to 50 percent of their expense. Businesses in the middle category will be able to avail up to 75 percent of their 3 months’ salary and wage expense.

Read More: SBP announces ease in financing for health sector amid coronavirus outbreak

The banks will not charge any loan processing fee, credit limit fee or prepayment penalties for loans under this scheme. A grace period of six months will be allowed to the borrowers while the repayment of the principal amount will be made in two years.

Banks will provide weekly reporting to the SBP on the take up of the scheme and in particular the reasons for any denials of financing requests under this scheme.

The state bank said that the scheme will ease the liquidity constraints of the businesses and they can use their available financial resources to meet other working capital requirements.

April 10, 2020
SBP announces ease in financing for health sector amid coronavirus outbreak

KARACHI: State Bank of Pakistan (SBP) on Thursday announced more financial measures aimed at facilitating the health sector under Refinance Facility to Combat COVID‐19 (RFCC), ARY NEWS reported.

According to a statement issued from the central bank, it said that since the outbreak of COVID‐19, the SBP has taken a number of measures to support the economy.

One of the earliest measures taken by the SBP was to support the hospitals, which have been at the forefront in combating the disease, by providing them a facility to meet their financial needs under RFCC on March 17.

Announcing further facilitation for the health sector, the top bank said that hospitals and medical centres engaged in fight against COVID‐19 will now be allowed to avail financing against their existing equipment and purchase of refurbished equipment as well, provided the same are used in creation of special facility/isolation ward to deal with COVID‐19.

Read More: SBP allows one year moratorium on consumer loans’ principle

Moreover, maximum coverage of 60 percent of civil works for setting up separate isolation facility, has also been enhanced to 100 percent.

Banks have been directed to ensure that financing extended under this facility is utilized for the intended purpose.

April 7, 2020
Exports, imports witness decline in March 2020, reveals PBS data

ISLAMABAD: Pakistan’s exports have witnessed an over 15 percent decline in the month of March, plunging to United States Dollar (USD) 1.8 billion as compared to $2.14 in February 2020 amid coronavirus outbreak, ARY NEWS reported citing data provided by Pakistan Bureau of Statistics (PBS).

The imports also witnessed a 21 percent decline during March 2020, and fell from $4.18 billion in February to $3.29 billion in the previous month.

The trade deficit witnessed a decline of upto 27 percent during March after it declined from $2.04 billion in February to $1.49 billion.

Despite fall in exports in March, the overall exports during the nine-months of the ongoing fiscal year witnessed a 2.2 percent increase and stood at $17.45 billion.

The imports witnessed 14.42 percent decline during first nine months of the fiscal year and remained at $34.81 billion.

Trade deficit also showed a similar downward trend and witnessed a decline of 26.45 percent and stood at $17.36 billion, the PBS data revealed.

Earlier in the day, Asian Development Bank’s newest report carried some positive news for the country with the money lending body hinting signs of progress for Pakistan’s economy in the year 2021.

Economic growth in Pakistan is expected to slow to 2.6% this year due to ongoing stabilization efforts, slower growth in agriculture and the impact of the COVID-19 outbreak, before recovering to 3.2% in 2021 according to the Asian Development Bank’s (ADB) latest annual flagship economic publication, Asian Development Outlook (ADO) 2020.

Read More: PM Imran Khan says coronavirus will destroy economy of developing countries

“Pakistan’s strong and decisive policy measures have started to yield positive results in reversing macroeconomic imbalances and narrowing current account deficits,” said ADB Country Director for Pakistan Xiaohong Yang.

“Although Pakistan’s economy is in better shape than before, the nation needs to work together to tackle the new challenges posed by COVID-19—including uncertain short term growth prospects—and its related socioeconomic repercussions. The government’s emergency package and extensive use of Ehsaas will be vital to blunting the detrimental impacts of the pandemic, particularly on the poor and vulnerable.”

April 3, 2020
Foreign reserves decline as SBP pays debt payments

KARACHI: Pakistan’s foreign reserves currently stands at United States Dollar (USD) 17,387.5 million by March 27, shows the latest figures provided by State Bank of Pakistan.

Giving a division of the reserves held by the state bank and commercial banks in its release, the SBP said that currently they held foreign reserves of US$ 11,185.6 million as compared to US$ 6,201.9 million present in commercial banks.

It said that during the week ended on March 27, SBP reserves decreased by US$804 million to US$ 11,185.6 million.

“This decline is attributed primarily to government external debt payments that amounted to US$441 million, and other official payments,” the statement read.

It is pertinent to mention here that the foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $690 million to $11.9bn during the week ended on March 20.

Read More: SBP allows one year moratorium on consumer loans’ principle

According to the central bank’s report, commercial banks’ holdings increased by $56 million and were calculated at 6.11 billion.

Whereas the country’s net foreign reserves were calculated to be $18.10 billion.

April 2, 2020
Train turned into quarantine facility for COVID-19 patients in Pakistan

KARACHI: Pakistan Railways’ Karachi Division has taken a significant step to assist the administration for containing the fast spread of coronavirus pandemic by turning a passenger train into quarantine facility for COVID-19 patients, ARY News reported on Monday.

The officials of the PR Karachi Division sad a special train has been deployed as a quarantine facility to isolate patients infected with COVID-19. They said PR employees and workers could avail the medical facilities at the special train at Karachi’s Cantt Station.

Photo: Anjum Wahab

The quarantine train comprises three air-conditioned sleepers and two business-class bogies having the capacity to put 36 patients in isolation under the proper observation of the physicians. The officials said the capacity of isolation rooms could be expanded as per requirement.

Photo: Anjum Wahab

Read: Online system to be introduced for academic sessions in universities

Railway administration said the establishment of emergency isolation rooms is focused to provide facilities to the suspected COVID-19 patients where they will get treatment by PR medical staff for 24/7.

Sindh government has also been offered to get the benefit from the isolation rooms if it faces a shortage of quarantine places for the patients.

Photo: Anjum Wahab

It is pertinent to mention here that Pakistan Railways suspended its operation for an indefinite period due to increasing number of coronavirus cases which was previously scheduled to be resumed from April 1.

Read: These hospitals in Sindh conducting coronavirus tests

However, the railway minister Shaikh Rasheed Ahmed made the announcement on Monday (today) regarding the latest decision following the orders of Prime Minister Imran Khan.

Photo: Anjum Wahab

After the announcement, Sindh’s transport minister Owais Shah suggested Sheikh Rasheed to establish quarantine facilities at all railway stations by utilising the passenger trains post halting the nationwide operations.

Photo: Anjum Wahab

Owais Shah said that the only solution in the current emergency situation is to turn passenger trains into isolation wards following the shortage of hospitals across the country. He urged the federal government to consider his suggestion to help citizens amid coronavirus crisis.

March 30, 2020
COVID-19: SBP announces doorstep cheque collection, other facilities

KARACHI: State Bank of Pakistan (SBP) on Thursday announced various facilities for banking customers in the wake of coronavirus pandemic including doorstep and drop box cheque collection facilities, ARY NEWS reported.

A circular issued from the state bank announced the measures aimed at limiting person-to-person interactions and providing ease of services.

Announcing facilitation under the direct cheque facility amid coronavirus pandemic, it said that a crossed cheque may be presented by payee/beneficiary directly into the paying/drawee bank, instead of their bank branches as per the existing practice.

In this case, funds may be transferred by the paying/drawee bank either through RTGS customer fund transfer – MT102 or Over the Counter (OTC) IBFT or Bank’s internal online system.

The circular also asked the banks to make arrangements for collecting cheque from registered addresses of their customers upon their request while the customers may drop their cheques in drop boxes of their banks, installed in selected branches.

Read More: SBP rolls out relief package for businesses, households

According to further details, the clearance of cheques will also be made within minutes under new directives and the customer could receive cheque payments within minutes.

Divulging the procedure, the SBP said that banks may allow their customers to send them the scanned image of the cheque along with relevant details of the beneficiary either through registered emails or through mobile apps of their banks to push funds from their accounts to the payee bank.

Further, to minimize person-to-person interaction, banks may also make arrangements with the Clearing House (NIFT) for clearing their cheques through Image Based Clearing (IBC) functionality as per the agreed SOPs between NIFT and banks.

March 28, 2020