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Punjab CM Maryam Nawaz announces incentives for investors, presents vision of green industry

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Punjab Chief Minister Maryam Nawaz Sharif has approved in principle the establishment of modern Green Industrial Economic Zone in the province while announcing a special incentives package for local and international businesses.

The decision was taken at a meeting between the chief minister and a delegation of the Overseas Pakistanis Foundation (OPF). OPF Chairman Syed Qamar Raza briefed the chief minister about the proposed project which will build a world class green economic zone through collaboration between OPF and Green Energy Group.

The proposed zone is intended to boost clean energy, industrial expansion, exports and job possibilities. The project has moved forward with renewable energy infrastructure plans, including solar, wind, hydro, ground-source energy, battery storage, and high-voltage backup systems, to deliver sustainable power solutions for companies.

The briefing said that the project would provide more than 18,000 direct and indirect jobs, annual revenues of over Rs5.6 billion and environment-friendly exports. The project is also expected to help promote Pakistan’s economic growth and reduce carbon emissions in accordance with net-zero aspirations.

“Punjab is open for investment from all sectors and we assured the investors of the full support of the government,” said Maryam Nawaz. “We have introduced a zero time to start policy to support new industries and businesses. A one window system has been introduced to fast track the processing of necessary approvals and permissions,” she said.

The chief minister said the provincial administration was aiming to build a secure and investor-friendly environment devoid of administrative barriers. “The government’s vision is to make Punjab a hub of green industries, development of clean energy and international trade activities,” she added.

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Indian water aggression: Flow in Chenab river dips by 53,000 cusecs in a day

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According to sources, India has stopped the flow of water into the Chenab River resulting in a decrease of 53,000 cusecs in flow of the river within a day.

India had stopped the Chenab’s water at the Salal and Baglihar dams, stated sources.

The Chenab River near Marala had a water inflow of 74,000 cusecs at 7am. By noon the flow was down to 31,000 cusecs.

The current water inflow at Marala is 21,000 cusecs and the stopping of Chenab waters is a significant violation of the Indus Waters Treaty, sources said.

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JI calls for statewide protest after 12 Rabi-ul-Awwal over petrol levy

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Jamaat-e-Islami Pakistan chairman Hafiz Naeem-ur-Rehman called a countrywide shutter-down strike after 12 Rabi-ul-Awwal over the petroleum levy, stating the government would have to decrease the petroleum costs.

Talking to a news conference in Lahore, Hafiz Naeem said their campaign was going in the best possible way and added that the government will have to cut down the pricing of petroleum goods.

He claimed the country cannot move forward in the presence of flour and sugar mafias and appealed to the people to come up and join their resistance. He also added that farmers were not obtaining fertilisers at affordable costs while government officials were utilising costly automobiles using taxpayers’ money.

The Jamaat-e-Islami head stated they would observe a country-wide strike after 12 Rabi-ul-Awwal, adding that negotiations would not be held on the basis of assurances to halt the sit-in. He said the sit-in will continue until the government practically accepted their requests.

Hafiz Naeem also stated the petroleum levy, which he called a type of extortion tax, should not be enforced under any circumstances and the government would have to cut petrol prices.

If their demands were not accepted they would march on Islamabad, they said. No one could stop them and no Jamaat-e-Islami worker would hesitate to make sacrifices.

It may be recalled that Jamaat-e-Islami has been organising sit-ins outside governors’ residences around the country against the petroleum levy, with the protests entering their eighth day today.

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Gold price up by Rs5,700 per tola

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Gold prices increased in domestic and foreign markets, with the rate of gold in the international bullion market shooting up by $57 an ounce to $4,604.

The gold price in Pakistan went up by Rs5,700 per tola, reaching Rs482,936.

The price of 10 grams of gold too went up by Rs4,972 to Rs414,039.

Meanwhile the price of silver was constant. Silver Rs7,379 per tola and Rs6,326 per 10 grams.

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