Federal Govt to Announce Industrial Policy

Following the failure of the Trade and Textile Policy, the Federal Government has now decided to announce Industrial Policy.

Federal Minister for Industries and Production Mir Hazar Khan Bijrani paid a visit to Federation of Pakistan Chamber of Commerce and Industry to finalize the draft of the Industrial Policy. According to sources, the draft will be finalized by August 14.

It is pertinent to mention that prior to the Industrial Policy the Federal Government previously announced Trade Policy while during August 2009 Textile Policy was also presented.

In reply to a question, the President of the Federation Sultan Chawla said that he has no expectations from the Industrial Policy.

US Will Soon Announce Special Projects in Baluchistan, US Consul General

US Consul General to Karachi William J Martin on Monday announced the launch of special projects in Baluchistan besides the opening of a US consulate in the provincial metropolis.

He was addressing a ceremony held in connection with the 234th Independence Day of America at a local hotel in Quetta. The ceremony was attended by Baluchistan Assembly Speaker Muhammad Aslam Bhootani, provincial ministers, MPAs and several journalists.

Martin said the US was committed to working alongside Pakistan to help improve the country’s health, education and energy sectors. The US is mulling opening a consulate in Quetta, he added. He announced several new assistance programmes worth millions of dollars for Baluchistan. Many of these projects will directly benefit the people of Masochistic, he added.

He said, During the meetings, the government and people have told us the most important need in the province is water. In addition to a national high-efficiency irrigation project that will include Balochistan, we are working with the provincial government to provide the people with potable water.

The programme will enhance irrigation and distribution capacity, energy is also a concern in Baluchistan. We already have a programme with the Quetta Electricity Supply Company to help them improve services to the public and reduce losses and increase efficiency.

The US geological survey will provide assistance in identifying natural gas resources in Baluchistan and to further their development. We will also provide assistance to help the country improve its regulatory and fiscal regimes in order to attract more investment, he added.

South Korea, U.S. Announce Additional Joint Military Drills

The US and South Korea say they will begin a major military exercise aimed at sending a message of deterrence to North Korea on 25 July. The four-day exercise, in the Sea of Japan (East Sea), will involve 20 ships, 200 planes and 8,000 personnel.

The announcement came as defence chief Robert Gates visited South Korea in a show of support for the US ally.

On Wednesday he and Secretary of State Hillary Clinton will visit the demilitarised zone dividing the Koreas. Ties between the two Koreas have deteriorated significantly following the 26 March sinking of a South Korean warship, the Cheonan, with the loss of 46 sailors.

International investigators say a North Korean torpedo sank the ship, but Pyongyang denies this and has demanded its own investigation. The UN Security Council has condemned the attack without assigning blame.

PM to Announce Energy Plan Today

ISLAMABAD, Pakistan News: Prime Minister Syed Yousuf Raza Gilani would announce the plan to combat the power crisis facing the country today. The sub-committees, formed during the energy moot, submitted their proposals to Ministry of Water and Power.

However, the suggestion to advance clocks by an hour has been rejected, whereas two holidays a week is okayed, besides other measures to overcome the worst energy crisis.

SBP to Announce New Policy Monitor Today

KARACHI,Pakistan News update: State Bank of Pakistan Governor Saleem Raza has said that new monitory policy will be announced on Tuesday.

According to details, he said foreign exchange reservoirs had reached to the stage of five months from three weeks.

State Bank Governor maintained that national economy was improving, adding that exports and credit demand were increasing.

He told that foreign exchange reservoirs are enough to fulfill the needs for five months.