ISLAMABAD: Finance Minister, Dr. Abdul Hafeez Shaikh said the present government has taken measures to counter challenges being faced by the national economy, like inflationary pressure, energy deficit and circular debt

In a meeting with a World Bank delegation Hafeez Sheikh gave an overview of Pakistan’’s economy saying that the WB has played a crucial role in economic development of Pakistan.

For example, in order to maintain macro-economic stability, policies of fiscal, debt reduction and reducing inflation to single digit are being followed.

Similarly, for the process of growth acceleration, the government has introduced structural reforms, productivity and efficiency enhancement process, improvement in governance and encouraging private investment, he added.

The WB delegation appreciated the signs of improvement in Pakistan’’s economy, saying that it has potential to grow.

The bank would provide all possible assistance to Pakistan in facing the economic challenges, said WB Vice President for South Asia Region Ms. Isabel Guerrero, who was leading a WB delegation.

She said that Pakistan’’s economy has the potential to grow and the World Bank wants to see Pakistan moving on the path of development with a vibrant economy.

On the occasion, the finance minister gave an overview of Pakistan’’s economy saying that the WB has played a crucial role in economic development of Pakistan.

“The World Bank has played a crucial role in economic development of Pakistan and we expect that this relationship will continue in future as well,” he added.

Earlier, the World Bank delegation was briefed about the state of Pakistan’’s economy by the senior officials of Ministry of Finance and Economic Affairs Division.

The meeting was also attended by Minister of State for Finance, Ms. Hina Rabbani Khar and Deputy Chairman, Planning Commission, Dr. Nadeemul Haq.

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ISLAMABAD: The Supreme Court on Friday directed the Registrar of Lahore High Court to submit till August 6, a detailed report about nature of cases against those found involved in illegal business of camel jockeys.

It also directed the concerned officials of the Punjab government and the federal government that they should take measures for expeditious distribution of cheques received from the United Arab Emirates as compensation money among the authentic claimants formerly used as camel jockeys in the Middle Eastern countries.

A three-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday was hearing a suo moto case pertaining to use of Pakistani children in camel jockey racing in foreign countries.

Additional Advocate General Punjab Qaiser Hussain Khadim told that the number of camel jockeys in Rahimyar Khan area stood around 15,000.

He said the cheques could not be distributed among the children as the concerned department was facing hurdles in locating them.

Chief Justice drew his attention towards a report which sated that these children were fed with edibles items recommended for pet cats. He said that cases should also be registered against the responsible.

He said “we are sovereign nation and will not remain silent over the plight of our children.”

He observed that without consent and connivance of concerned immigration officers, it was not possible to smuggle the children.

Justice Khalil ur Rehman Ramday remarked was it necessary to accept aid. Chief Justice Iftikhar Muhammad Chaudhry had taken suo motu notice on the application of Tahir Ali. According to the application, the Pakistani children were used in illegal smuggling and in camel jockeys racing under pathetic conditions.

During last hearing the additional secretary ministry of interior had apprised that the meeting of the cabinet committee would be held under chairmanship of Minister for Overseas Pakistanis and it would decide the expeditious distribution of cheques among deserving people after due verification.

The bench had asked him to approach minister for interior to take up the issue with Minister for Overseas Pakistanis to resolve the issue.

Joint secretary interior had told the court that an amount of $11,35,000 had been received and would be distributed as compensation among the children used in camel jockey racing. He said about 15,000 cheques had been sent to concerned Punjab government office.

He had cited ignorance and poverty as the reasons behind the curse.

A representative of NGO from Rahim Yar Khan had also informed that cruel methods were applied upon children. He submitted a report saying that the children were given electric shocks more than five times a day to keep them well before 45kg which was ideal weight for camel jockeys.

According to some estimates, 12,000 Pakistani children are illegally being smuggled from the country to the Middle East. In 2005, the government of the UAE imposed a ban on the use of children in camel racing, which led to the 3,000 children returning to the country.

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LAHORE

Presiding over the meeting of Aitchison College?s Board of Governors on Thursday, Punjab Governor Salman Taseer said that the project of

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LAHORE: Local Met office has forecast new system of rains from July 21 which will continue for 4-5 days.

Director Met office Mian Ajmal Shad said a new system is approching the country from east. “It is likely to enter on July 21 and cause rain in north Punjab, Gilgit Baltistan, Khyber Pakhtunkhwa and Kashmir.

He said during the last 24 hours most parts of the country remained hot and dry.

The temperature of Lahore was recorded as 30 degree minimum and 39 centigrade maximum.

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LORD?S: Australia will resume its second innings in the first test against Pakistan at Lords on Wednesday.

Mohammad Asif took three wickets in a dramatic burst either side of tea as Australia finished on 229 for nine when bad light forced an early close on the first day of the first Test against Pakistan at Lord’’s here on Tuesday.

Asif took three wickets for no runs in seven balls on his way to a return of three for 53 in 17 overs.

Meanwhile teenage left-arm quick Mohammad Aamer, his new ball-partner, made the early inroads on his way to a haul of three for 66 in 18 overs.

Australia’’s batsmen all struggled after Pakistan captain Shahid Afridi won the toss and elected to field in overcast, seam-bowler friendly, conditions.

Only left-handed opener Simon Katich, who made 80 but might have been lbw for two, had so far got past fifty although Michael Hussey was 39 not out, with Doug Bollinger unbeaten on nought, at stumps.

Asif struck with the last ball before tea when he had Clarke lbw for 47 to end a third-wicket stand worth 120 with Katich.

And nine balls after the break, Katich pushed uncertainly outside off-stump against Asif and was caught behind by wicketkeeper Kamran Akmal for 80.

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LONDON: Former Pakistan captain Wasim Akram has warned the country?s cricketing pundits against depending on the youngsters in trying conditions of En

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KARACHI: Price of stocks at Karachi Stock Exchange rose more than 0.50 percent on Friday as investors bought shares on lower levels after the main index fell 0.90 percent the previous day and on hopes of strong corporate results.

The Karachi Stock Exchange’’s benchmark 100-share index, ended 0.57 percent, or 58.05 points, higher at 10,153.85, an almost two-and-a-half month high.

Volume fell to 55.81 million shares compared with 91.69million shares traded on Thursday.

Results for the year ending June 30 are due to be announced in the coming weeks. Dealers said volume is likely to improve after the expected reintroduction of margin buying.

The Karachi Stock Exchange authorities and the Securities and Exchange Commission of Pakistan (SECP) met last week to discuss the reintroduction of margin buying but it was not finalised in the meeting.

However, it was decided that a final document would be submitted to the SECP by next week.

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LAHORE

SENIOR Advisor to Chief Minister Punjab Sardar Zulfiqar Ali Khan Khosa has said the agriculture is the backbone of economy, and irrigati

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ISLAMABAD: Indigenously developed aircraft by Pakistan with the help of China will make its maiden appearance at an international show being held in the United Kingdom.

In line to make their physical appearance in Farnborough Air Show 2010 along with other modern aircraft, being held 19-25 July in the UK, two JF-17 Thunder combat aircraft of PAF on Friday flew into the UK from a PAF Base.

These aircraft are manufactured at Pakistan Aeronautical Complex (PAC) Kamra. The JF-17s would be displayed for the first time in the Farnborough Air Show alongside other modern aircrafts of the world.

The JF-17 Thunder distinguishes PAF as the only air force in the world that manufactures combat aircraft. It is an all-weather, multi-role, combat aircraft that has the potential to be the mainstay of any modern air force.

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LONDON: Pakistan fast bowling great Wasim Akram believes new pace sensation Mohammad Aamer is ?much cleverer than he was at 18? after watching the tee

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