Monsoon rains in the country's series of ongoing

Kaslslh monsoon rains in the country and continues even today Punjab, Khyber Pakhtunkhwa, Balochistan and Kashmir is a possibility of rain in some areas. Might rain in the coastal areas of Sindh. According to the Meteorological Department, Rawalpindi, Gujranwala, Lahore, Multan, CD DG Khan, Bahawalpur Division, Peshawar, Hazara region of Khyber Pakhtunkhwa, Kohat, Bannu, Dera Ismail Khan Division, Zhob, Sibi Division and the possibility of rain in Kashmir. yesterday and southern parts of Punjab, upper, Malakand, Hazara, Dera Ismail Khan, Peshawar , Kashmir and Gilgit in the rain. Mandi Bahauddin highest rainfall recorded in a hundred and one mm. Mianwali in the seventy, two were in Kotli had mytrbars. monsoon in the recent series three hundred nineteen Muzaffarabad, Islamabad two hundred better living airport, dusupcys in Murree, Balakot, a suartalys mm rainfall has been recorded.

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Pak-US hectic talks on BIT draft

ISLAMABAD - Pakistan and the United States remained engaged on Friday to narrow their differences over the draft of Bilateral Investment Treaty (BIT) which Islamabad and Washington have been discussing since March 2012.“There are still couple of points under discussion between the US and Pakistan to finalise the treaty draft”, US Embassy spokeswoman Rian Harris told The Nation hoping these issues would soon be resolved.On the other hand, Chairman of Board of Investment (BoI) Saleem H. Mandviwalla told a Press briefing that the Prime Minister Raja Pervaiz Ashraf as well as the Law Division have already cleared the draft that further added to the mystery that something somewhere was going wrong. The BIT talks came into spotlight of the national media following series of controversial Press briefings conducted for the Pakistani journalists by the six-member US negotiating team as well as BoI Chairman.It started with a hurriedly arranged background briefing by the visiting US negotiating team on Wednesday when they declined to concede that talks with Pakistan were not progressing well, and had to extend their stay in Islamabad ostensibly in the last ditch effort to evolve consensus over the draft.The US team was prompted to extend its stay in Pakistan following an eleventh hour intervention by the Presidency as the US negotiating team announced its changed departure schedule after meeting with one of the powerful advisers to President Asif Ali Zardari.The US team during the background briefing had told Pakistani journalists which was accordingly reported in the national dailies that they had discussed with Pakistani negotiators the possibility of the BIT enabling US firms to fill senior management posts in Pakistan without regard to the nationality of the executive. This follows their meetings with the officials of Strategic Plans Division as well as Pakistan Atomic Energy Commission (PAEC) and both the national institutions had expressed their reservations that such management positions being occupied by Indian or Israeli nationals could jeopardise country’s national security interests.The US officials were adamant to argue that such reservations will have no place under the terms of the treaty.“The proposed BIT gives covered investors the right to engage the top managerial personnel of their choice, regardless of nationality,” the US officials said ,adding, that the treaty would exempt prospective investors from having to obtain No-Objection Certificates from Pakistan’s security apparatus for the appointment of top management staff. “No such [issue] came under discussion in our negotiations”. Saleem H. Mandviwalla had to clear the position in a Press conference on Thursday that all was going well with regard to the BIT talks.“When did the US negotiating team held its Press briefing”, he kept on asking the reporters when he again tried to clear the controversy at a Press briefing on Friday.Mandviwalla, dismissed reports that US team extended its stay in Pakistan, insisted that Pakistan will not allow anybody to cause harm to it.  “I will not allow anything against Pakistan’s interest. It could happen only over my dead body”, BoI Chairman emphasised.He was of the view that if any national institution had any reservations it should tell us, adding, that concerns of five national institutions including State bank of Pakistan, SECP, NHA and Ministry of Commerce regarding BIT with United States have been duly addressed and they were now onboard. He went on to argue that Pakistan’s only interest in BIT was to secure Free Trade Agreement (FTA) with the United States and BIT was prerequisite to attain that goal. Interestingly, the senior officials of the policy-planning wing of the BoI remained reluctant to share details of the clauses with journalists to remove the concerns raised by certain institutions. Despite directives by BoI Chairman the senior officials did not share these details.

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Govt authorized to decrease petroleum prices: Dr Asim

Advisor to Petroleum Dr Asim Hussain has said that parliament can lessen petroleum price by giving subsidy. While talking to the media following his visit to Karachi chamber of commerce and industry, he said that the country is confronted with energy crisis due to mistakes committed by the people who have been ruling over the country. He said that the government has to face monthly loss from Rs 30 to 40 billion pertaining to provision of electricity. “The government is also trying to mend the situation by 18th Amendment of the constitution but it would be implemented on new gas field”, said Advisor to the petroleum. He also declared the method of companies regarding counting profit. While commenting on law and order situation in Karachi, he said that President Asif Ali Zardari and MQM chief Altaf are very concerned over chaotic situation of the metropolis. The government on Friday increased petroleum, oil and lubricants (POL) product prices ranging between Rs 5.54 and 8.18 per litre, effective from today (Saturday). According to a notification issued here, the HOBC price increased by 8.18 per litre to Rs 133.19 per litre, petrol by Rs 7.77 to Rs 104.55 per litre, kerosene oil by Rs 5.86 to Rs 102.21, High Speed Diesel (HSD) by Rs 5.94 to Rs 112.13 per litre and Light Diesel Oil (LDO) by Rs 5.54 per litre to Rs 98.84 per litre. Prime Minister’s Advisor on Petroleum and Natural Resources Dr Asim Hussain suggested the government to pass on only 50 percent of the international crude oil impact on the consumers by slashing 50 percent petroleum levy. But, the government rejected his suggestion and passed on the full impact on oil consumers. The government is collecting petroleum levy on petrol at the rate of Rs 8.86 per litre, Rs 11.84 per litre on HOBC, Rs 4.2 per litre on HSD and Rs 5.15 per litre  on kerosene oil. According to Petroleum Ministry official as a result of POL price increase, the government’s tax collection on petroleum products will also increase as General Sales Tax is being collected from consumers. The government on August 22 announced an increase in the price of petrol from Rs 93.57 per litre to Rs 96.78 per litre, HOBC from Rs 120.16 per litre to Rs 125.01 per litre, kerosene oil from Rs 92.83 per litre to Rs 96.35 per litre, HSD from Rs 101.79 per litre to Rs 106.19 per litre, LDO from Rs 90.11 per litre to Rs 93.30 per litre. The government has also decided to increase the price of Compressed Natural Gas (CNG) by Rs 7.11 per kg in region-I consisting of Potohar region, Khyber-Pakhtunkhawa and Balochistan provinces and by Rs 6.50 per kg in region-II consisting of larger parts of Punjab and Sindh. On August 23 the rate of CNG for region-I consisting of Potohar, Balochistan and Khyber-Pakhtunkhawa, was raised by Rs 3.21 per kg, setting the new price up Rs 88.61/kg. The CNG price in region-II consists of Punjab and Sindh increased by Rs 2.68 per kg bringing it up to Rs 80.94/kg. This is the first time in the history of the country that price of kerosene oil has crossed Rs 100 per litre mark. The massive increase in the POL prices would fuel prices of daily use items especially perishable items as well as public transport fares. Ghiyas Abdullah Paracha, Chairman All Pakistan CNG Association (APCNGA) while rejecting the government decision to hike CNG tariff said CNG industry was paying a Gas Infrastructure Development Cess (GIDC) of Rs 300 per MMBTU and highest gas tariff of Rs 648 per MMBTU as compared to other sectors of economy. He said if the government is increasing CNG tariff it will have to increase gas price for CNG sector, which is not possible until Ogra public hearing and if still government is increasing CNG price it is illegal.

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Weekly review: Petrol jumps up to Rs105

ISLAMABAD: In the third consecutive increase in a single month, the government has raised the prices of all petroleum products and CNG to an all time high citing hike in international prices.

Price of petrol has been increased by Rs7.77 per litre which will now be available at petrol pumps at Rs104.55 per litre, after the government revised fuel prices.

Applicable from Saturday, diesel would be sold at Rs112.13 per litre after its prices were revised upwards by Rs5.94 a litre.

Keeping in line with the 60 per cent price disparity formula between the petrol and gas prices, an increase of Rs7.11 per kilogram has been made in the price of compressed natural gas (CNG) for the northern region including Khyber Pakhtoon Khawa, Potohar region and Balochistan where it will now be sold at Rs95.72 per kg. While in Sindh and Punjab, excluding Potohar, CNG will be sold at Rs87.44 per Kg with an increase of Rs6.50 per kg.

The new price of CNG is all time high and is expected to have a direct impact on fares of public transport and cabs, most of which are run on CNG.

Earlier, a senior government official said that petroleum ministry had moved a summary on Friday to Finance Ministry recommending that 50 per cent of the total impact of global hike in prices be shifted to consumers and rest be absorbed by cutting the rate of petroleum levy-a tax the government charges from consumers.

But the finance ministry rejected the proposal and decided to go ahead with full price hike at par with international prices. Besides increase in international prices, the ever increasing rupee dollar parity is one of the reasons for the unprecedented raise.

High Octane Blending Component (HOBC) used in luxury cars in the new review witnessed a maximum hike of Rs8.18 per litre. It will now be sold at Rs. 133.19 per litre this week.

The price of kerosene oil has also been increased by Rs5.86 per litre to Rs102.21 per litre.

Light Diesel Oil would now be sold at Rs98.84 per litre with an increase of Rs5.54 per litre.

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FIA probe team draws blank from London

ISLAMABAD - A two-member team of the Federal Investigation Agency (FIA), probing Olympics visa scam, returned home from London empty-handed after spending more than Rs 2 million of the national exchequer, sources aware of the development told TheNation on Thursday.

A source in the FIA said that the investigation team failed to get any lead in the scam, as it remained unable to record the statement of Ali Asad, the main character in the scam.

The team comprised of Director FIA, Karachi, Mozamma Ali Jah and PSO to Director General FIA, Mohammad Waseem. Shafiq Ahmed, an officer of the data warehouse of National Database & Registration Authority (NADRA), also accompanied the team to assist it in technical matters.

The investigation team remained in the UK for more than two weeks and NADRA bore all its expenditures during its stay there on the directions of the Interior Minister Rehman Malik.

A fact confirmed by a senior officer of NADRA who further told The Nation on the condition of anonymity that the team was sent to London in haste on the directions of Interior Minister. He cited this as a major explanation for the failure of the investigation team in getting any lead or recording the statement of Ali Asad.

NADRA officer said Authority had opposed the Interior Ministry’s directions that it would bear all expenditures of the investigation team but had to bow down before the powerful Interior Minister’s pressure. “When the team was dispatched to London, Interior Ministry neither took the Foreign Office in loop nor contacted the British Home office,” he said while describing reasons of failure of the team in recording the statement of main character in the visa scam.

According to the Interior ministry, FIA team has submitted a report regarding progress in UK. The team also said that several meetings were held with the British officials in locating Asad but all in vain. 

The visa scam had surfaced after a British tabloid The Sun published that some persons might sneak into UK on fake traveling documents as part of Pakistan’s Olympics squad. However, NADRA had dismissed the claim as base saying that its system was secure and no body can get issued CNIC through fake identity from its system.

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