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Economy

KMU issues guidelines for students participating in ETEA test

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PESHAWAR: The Khyber Medical University (KMU) here Thursday issued guidelines for students who is going to appear in ETEA test on Sunday next for admission in medical and dental colleges of the province.

The KMU Peshawar, Directorate of Academics and Admissions has instructed students to be participating in the Educational Testing & Evaluation Agency (ETEA) entrance test for admissions in Medical and Dental Colleges of Khyber Pakhtunkhwa and asked them to follow it otherwise they would not be allowed to sit in the test to be held on July 15 . The test will be held simultaneously at Islamia Collegiate School Ground Peshawar, Haripur University, Haripur, Grassy Ground Saidu Sharif Swat, Gomal Medical College new building opposite Dera Township D.I Khan, Abdul Wali Khan University Garden Campus Near Sheikh Maltoon Township Mardan, Cadet College Kohat and Malakand University Chakdara Lower Dir.

Directorate of Academics & Admissions has instructed the students to bring their admit card along with fresh picture pasted on their admit cards otherwise they will not be allowed to sit in the test. Students are strictly warned not to bring books, calculators, cell phones, smart watches, Jewelry, laptops, Cameras and other electronic and those items which can help them unfairly in the examination. To avoid the rush and participate well in time, candidates should reach their respective centers in the morning at 6 AM. Gates of the test centers will be closed at 8:30 AM, later on, no candidate will be allowed to enter into the test Centre. Students must bring their own clipboards and black pointers with them. To avoid traffic rush parents are advised to prefer to pick & drop instead of parking their vehicles on roads.

In case of any problem, candidates are directed to contact relevant staff at the stage or helping desk at the entry points of the test centers. Students are also advised to follow the given details of centers and roll numbers. It is worth mentioning that candidates from roll no. 00001 to 10000 will appear at Islamia Collegiate School Ground Peshawar, roll No 20001 to 25402 at Haripur University centre, Haripur, from roll no. 30001 to 35405 at Grassy Ground Saidu Sharif Swat, roll no. 40001 to 43772 at Gomal Medical College new building opposite Dhera Town ship D.I Khan, from roll no. 50001 to 56790 at Abdul Wali Khan University Garden Campus Near Sheikh Maltoon Township Mardan, roll no. 60001 to 63250 at Cadet College Kohat and from roll no. 70001 to 73435 at Malakand University Chakdara Lower Dir.

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Economy

Renault board maintains Ghosn as CEO

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PARIS: The board of the French automaker Renault said today that it was keeping Carlos Ghosn as its chief executive after an internal review of his pay package found that it conformed with French law.
Ghosn has been held under arrest in Japan since November 19 on charges of financial misconduct and under-reporting his pay as head of Renault’s partner Nissan, which has since sacked him as chairman. He has also been dismissed as chairman of Mitsubishi, another partner in the Renault-Nissan alliance. Renault kept Ghosn on as CEO after his arrest in Tokyo, but launched an inquiry into his pay package and named a deputy CEO, Thierry Bollore, to ensure day-to-day management.
“The compensation of the chairman and chief executive officer of Renault and the conditions under which such compensation was approved were in compliance with applicable law,” the automaker said after a board meeting Thursday. The board said this referred to compensation for the years 2015 to 2018, adding that it had asked its lawyers to continue their review in liaison with Nissan’s lawyers.
Renault’s lawyers also provided the board with a report on a presentation made by Nissan’s lawyers, the statement said. At this stage, the board “does not have information concerning Carlos Ghosn’s defense,” it added. Both Ghosn and a key aide Greg Kelly, who is also being held in Japan in connection with the charges, have reportedly denied the claims.

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Asia

ADB to provide $7.528 bn to Pakistan

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ISLAMABAD: The Asian Development Bank (ADB) has planned to support Pakistan with lending of $7.528 billion for various development projects during the next three years.

In its new Country Operations Business Plan (COBP) for Pakistan 2019-21 revealed on Thursday, the ADB has proposed a sovereign lending program for next three years worth $7.528 billion, consisting of $5.37 billion from regular Ordinary Capital Resource (OCR) lending and $2.158 billion from Concessional COR Lending (COL). COL includes a carryover of $600 million from 2018. The non-lending program for 2019–2021 is $21.7 million, including transaction technical assistance for various pipeline projects. An amount of $2.245 billion in ADB loan financing is allocated for the energy sector, which is 29.8 percent of the total pipeline for 2019–2021.  

The pipeline includes a multi-tranche financing facility for Transmission Strengthening (tranche 1) for National Transmission and Dispatch Company (NTDC), Hydropower Development Project for Water and Power Development Authority (WAPDA), and support for the Turkmenistan-Afghanistan-Pakistan-India Gas Pipeline Project. For the transport sector, some $1.394 billion of ADB loan financing for the sector (18.5% of the total pipeline) have been allocated for the transport sector.  The pipeline includes the Sustainable National Highway Project and the Sindh Hyderabad Southern Bypass Project.

ADB also proposes support for the revitalization of Pakistan Railways to improve transport sector sustainability, including exploring non-conventional financing arrangements. For agriculture, natural resources, and rural development, ADB has allocated $794 million in loan financing to the sector (10.6% of the total pipeline).  The pipeline includes the Greater Thal Canal Irrigation Project, the Kurram Tangi Water Resources Project, and the Smaller Cholistan Water Resources Development Project. Similarly, for water and other urban infrastructure and services, the ADB has allocated $470 million in ADB loan financing (6.2% of the total pipeline).  The pipeline includes a cross-sector project readiness facility for Punjab and the Punjab Cities Improvement Project. ADB has also allocated $2.4 billion in loan financing to the finance and public sector management sectors (31.9% of the total pipeline).

The COBP, 2019-2021, includes new projects such as trade and competitiveness program (subprogram 1) in 2019; financial markets development in 2020; infrastructure financing and PPPs in 2021; as well as the second phase of support for the Benazir Income Support Program in 2020. The education and health sectors pipeline includes $225 million in loan financing (3.0% of the total pipeline). ADB’s re-engagement in education and health sectors includes $175 million for projects on secondary education in Sindh and improving workforce readiness and skills development in Punjab, and $50 million projects to improve quality of health care services in Khyber Pakhtunkhwa (KP).

ADB will also provide technical assistance across sectors to help project implementation and to generate and disseminate knowledge products to support policy and project development, as well as to enhance project quality and readiness. Pakistan, a group B developing member country, is eligible for regular OCR lending and concessional OCR lending (COL).  The indicative resources available during 2019–2021 for sovereign operations amount to $5,712 billion, comprising $4.29 billion for regular OCR lending and $1.422 billion for COL. The final allocation will depend on available resources, project readiness, project performance and debt distress rating of the country among others. ADB’s non-sovereign operations will supplement these resources.  ADB will also explore co-financing from other sources and seek financing from the regional pool under concessional resources and regular OCR for regional cooperation and integration.

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Business

Improving ease of doing business

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Imran Khan on solution to poverty

ISLAMABAD: PM has today directed Board of Investment (BoI) chairman to present a comprehensive plan, listing all the issues in various sectors and their sub-sectors and how the processes could be streamlined to simplify procedures related to government approvals, addressing taxation issues, dispute resolution and facilitating investors/businesses. 
He said this while chairing a high-level meeting to review progress on improving ease of doing business and creating an enabling environment to facilitate the conversion of interest of the local as well foreign investors into actual investments in the country. The meeting was attended by Finance Minister Asad Umar, Law Minister Dr. Farogh Naseem, Commerce Advisor Abdul Razak Dawood, BoI Chairman Haroon Sharif, federal secretaries and senior officials. 
BoI Chairman Haroon Sharif while briefing the prime minister about the steps taken so far said the Board would be serving as an agent of change for facilitating business transactions, removing impediments in the way to the materialization of investors’ interest into actual investments and smooth functioning of the businesses in the country. He also briefed about various issues being faced by the business community including taxation, access to finance, regulation and policy issues and red-tapism.
He said the BoI was also actively working with the provinces and relevant ministries for removing barriers in the way of establishing Special Economic Zones.  He said special efforts were being made to bridge the gap between private and public sector and to reach out to the private sector to revive their confidence in government policies and put in place a framework that facilitates business community in its business pursuits.  The BoI chairman also briefed about Naya Pakistan Diaspora Fund which was being set-up to promote SMEs and rural development in key areas of education, health, and infrastructure development.
He also apprised the prime minister of the investment framework which had been structured for attracting and materializing investment from UAE, KSA, China, Japan, and Malaysia.   It was decided during the meeting that the prime minister would chair a review meeting every month on ease of doing business in the country.

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