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“Zero Tolerance Policy”: Fruitful Countermeasures Against Power Pilferage, Hoarding, and Smuggling

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5 months ago

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Since the initiative represents the leadership’s dedication to upholding the law and safeguarding the nation’s economy, the Government of Pakistan’s “zero tolerance policy” has begun to bear fruit.

The policy steps against smuggling, hoarding, and electricity pilfering, according to a statement, are intended to break up illicit networks, stabilize markets, and guarantee the availability of necessities at fair prices.

Many arrests and billions of rupees in recoveries have been made as a result of the regulations, which are enforced starting September 1, 2023, with support from the Special Investment and Facilitation Council.”

Three thousand and twenty-nine metric tonnes of illegal fertilizer movement have been stopped during anti-smuggling operations.

As part of their efforts to stop the smuggling of necessities, authorities also apprehended 361 metric tons of wheat and flour from smugglers.

The illicit sugar profiteering was stopped during the course of the last eleven months thanks to the seizure of 34,731 metric tonnes of sugar.

With the seizure of 149,710 rolls of fabric, the illicit textile market was pushed back.

Additionally, 7 million liters of Iranian oil were seized as a result of the smuggling crackdown, which helped to stabilize the fuel market.

Authorities have guaranteed farmers’ access to 43,644 metric tons of fertilizer that they had taken from hoarders since September 2023.

Parallel to this, hoarding led to the recovery of 2,505 metric tons of wheat, 57,051 metric tonnes of ghee, and 10,907 metric tonnes of sugar from market price manipulators.

Over 83,295 power thieves were detained by law enforcement agencies, which also recovered Rs 104 billion from those involved in power theft, totaling 173,212 feces against those implicated.

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In interbank trade, the Pakistani rupee beats the US dollar.

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6 days ago

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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7 days ago

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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The inflation rate in Pakistan dropped to its lowest level.

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7 days ago

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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