Jan 042018
 
SBP kabaddi course in progress

LAHORE: OCA Technical Coaching Course for Kabaddi coaches is under way here at the National Hockey Stadium and is being participated by officials from all over the country.The course is being conducted Pakistan Kabaddi Federation in collaboration of Olympic Council of Asia and support of Sports Board Punjab. Around 35 officials, coaches and technical persons have assembled here for the course who are being properly pampered by SBP on the directions of Secretary Sports Amer Jan, who is also Director General Sports Punjab.On Thursday, PKF secretary Rana Mohammad Sarwar, Director Coordination Pakistan Olympic Association Mian Mohammad Rafiq and asenior kabaddi coach Practical Games Badshah Khan delivered lecture on various aspect of the game and its technicalities. M Rafiq apprised the participants of the Olympic Movement while Rana Sarwar informed them of the introduction of beach kabaddi in the recent times. He said that to move forward for victory there is a need to adopt new ways and understand the new developments in the sport. Badshah Khan said that coaches should understand the weaknesses of each and every player and guide them to overcome those weaknesses. The participating coaches includes from Punjab, Sindh, Balochistam, Khyber Pakhtunkhaw, Army, Air Force, Navy and Wapda. There are 25 male anf 10 females officials attending the course and Sports Board Punjab is providing all be basic amenities required by them. Click for detailed story

Dec 152017
 
Trials to select SBP teams conclude

LAHORE: Sports Board Punjab (SBP), under the instructions of Secretary Sports Punjab Muhammad Aamir Jan, has completed the trials process of various Punjab teams for second edition of Quaid-i-Azam Inter-Provincial Games at different venues on Friday.As many as 2055 players took part in trials and 545 have been selected on the basis of outstanding performance for camp training.On Friday, volleyball trials were conducted at Punjab Stadium under the supervision of qualified coaches Azmat Hafeez, MB Javed, Maqsood Khalid and Sibtain.18 boys out of 45 and equal number of girls out of 35 candidates have been selected for camp training.It is pertinent to mention that 2055 male and female players featured in trials for 19 games scheduled to be competed in Quaid-i-Azam Inter-Provincial Games being staged at Islamabad from December 25-29, 2017.Sports Board Punjab conducted trials at several venues in Lahore under the supervision of expert coaches of trials committee. The trials committee followed merit strictly while selecting players for camptraining.After the trials, the selected players will be given modern training at camps. The coaches will put special emphasis on the fitness of players during the camp training. The players who will show excellent performance and fitness during the camp training will be selected in the Punjab teams for Quaid-i-Azam Inter-Provincial Games. Click for detailed story

Nov 212017
 
SBP, sports bodies join hands for growth of games

LAHORE: Secretary Sports Punjab Muhammad Aamir Jan presided over an important meeting of representatives of all sports associations of the province here at Punjab Stadium on Tuesday. The participants discussed different ways and means for the promotion of sports in the province.Director Sports Muhammad Anees Sheikh, Director Admin Javed Rasheed Chohan, Punjab Olympic Association (PbOA) Secretary Idris Haider Khawaja, Deputy Directors Tariq Wattoo, Hafeez Bhatti and Assistant Director Zahoor Ahmed, Shafqat Ali, Liaqat Ali, Sh Mazhar, Naeem Akhtar and M Pervaiz were also present during the meeting.Addressing the meeting, Secretary Sports Punjab Aamir Jan announced that Sports Board Punjab (SBP) will give grant to sports associations to hold sports events in the province. A high-profile committee will also be formed to monitor all the sports affairs in the province. “The committee will likely to be comprised of Punjab Olympic Association (PbOA) secretary Idris Haider Kh, Salman Iqbal Butt, Saba Waris, Arshad Sattar and representatives of Sports Board Punjab,” he informed.Aamir Jan further said: “Sports Board Punjab, on the recommendations of newly-constituted committee, will also extend financial help to those needy players who have enough potential to feature in international sports competitions. The successful athletes will also be rewarded upon their return from international events”.Aamir Jan informed the meeting that a 5-year sports plan will also finalised with the consultation of SBP committee. “A sports calendar will also be introduced in the province and according to that calendar, sports competition will be organised at district, divisional and provincial level,” he added.Secretary [Read More…]

Oct 022017
 
Debtocracy

This refers to the article, ‘The IMF’, (Oct 2) by Dr Farrukh Saleem. The writer has made an excellent analysis of the scary economic situation. The article exposes the ‘all well’ narrative of the Ministry of Finance and showed the real picture which was foreign to the majority. The fact is that the economy is about to collapse. SBP reserves are deteriorating at a fast pace and can barely cover the country’s imports for the next two months. On the other hand, the external debt has reached $83 billion. This is a real doomsday scenario. Under such circumstances, the indifference of politicians, political parties and parliament is not surprising. But the silence of the highest judicial forum and the security agencies in this regard is baffling. Arshad M Khawaja (Karachi) Click for detailed story

Oct 022017
 
September 2017: Inflation surges to 3.9% as price shocks shake up commodities

ISLAMABAD: Inflation increased to 3.9% last month due to sudden price shocks, contrary to expectations of the State Bank of Pakistan (SBP) that had anticipated no major disruption in food supply chain. Measured by the Consumer Price Index (CPI), the inflation indicator surged to 3.9% in September as against 3.4% a month earlier, the Pakistan Bureau of Statistics (PBS) said on Monday. On a month-on-month basis, inflation rate was 0.6% up in September. The spike came due to a massive increase in prices of essential commodities that were short in supply in the domestic market. The rates of essential kitchen items such as onions and tomatoes went up by as much as 153.4% on an annual basis. On a year-on-year basis, food inflation rate jumped to 2.4% in September as against 1.3% a year ago. Even on a month-on-month basis food inflation accelerated to 1.3%, from just 0.4% level of a year ago. The PBS reported the average prices of onions at Rs72 per kilogram, as against Rs46 just a month ago. Similarly, the average per-kilogram tomato rates spiked to Rs102.6 per kilogram, according to the PBS. The PBS reported tomatoes at Rs121 per kilogram for Islamabad region, which is unrealistic. The commodity was sold at Rs180 per kilogram in the retail markets. Inflation rises 3.41%, but remains manageable On the back of adequate food supplies and stable international commodity prices, headline inflation decelerated in the first two months of fiscal year 2017-18. In its latest monetary policy announcement on September [Read More…]

Aug 012017
 

ISLAMABAD: The annual rate of inflation fell for the third straight month in July to its lowest level in the past 20 months, which will help restrict high inflationary expectations in a challenging external sector environment. The Pakistan Bureau of Statistics (PBS) said on Tuesday that consumer prices rose 2.91% in July compared to the same month a year earlier. It was 0.34% higher compared with negative 0.4% reported in June this year. July’s inflation reading was the lowest since November 2015, largely reflecting a slowdown in energy prices and a smooth supply chain. The low pace of increase in prices was largely in line with the trend witnessed in the previous fiscal year when average inflation stood at 4.16%, significantly below the official target. However, it seems that the relationship between printing of currency notes and inflation may have eased, as during the last fiscal year, the central bank printed more than Rs900 billion worth of currency notes to support the government to finance its deficit. In its last monetary policy announced in July, the central bank voiced hope that average headline inflation, though higher than the previous fiscal year, was expected to be lower than the earlier outlook and would stay below the target of 6%, mainly on the back of favourable supply conditions. CPI inflation stands below target at 4.16% For the new fiscal year, the State Bank of Pakistan (SBP) has projected that average Consumer Price Index (CPI) will remain in the range of 4.5% to 5.5%. [Read More…]

Jun 302017
 

KARACHI: The State Bank of Pakistan (SBP) on Friday said the growth in the country’s real gross domestic product (GDP) remained on an upward trajectory and rose to a decade-high of 5.3% in fiscal year 2016-17. In its third quarterly report for FY17 on the state of Pakistan’s economy, the SBP noted that economic indicators like private sector credit and investment also showed an encouraging picture whereas inflation stood below target. The report highlighted the revival in the agriculture sector in FY17, which was supported by favourable policy measures, including fertiliser subsidy, reduction in sales tax on tractors and increased access to finance. Better agriculture had, in turn, positive spill-over for trade and manufacturing sectors. The Public Sector Development Programme (PSDP) and China-Pakistan Economic Corridor (CPEC)-related activities also continued to boost industries associated with the construction sector. Loan infection ratio declines, SBP report reveals The overall improvement in business sentiments along with supportive policies (like historically low interest rate, high infrastructure spending and better law and order) encouraged a number of firms to pursue expansion plans, the report said. This was reflected in a significant surge in private sector credit off-take with a sizable share of fixed investment loans. At the same time, an increase in machinery imports was also noted. The report pointed to the decline in exports and worker remittances, which along with a rise in imports led to a higher current account deficit compared to the previous year. On the financing side, the official external inflows in July-March [Read More…]

Mar 242017
 
Sami scores 72 as SBP post 284

KARACHI: Test opener Sami Aslam, Abid Ali and Nasir Nawaz struck fine fifties to enable State Bank of Pakistan (SBP) to post 284 all out against Candyland in their first innings on the opening day of their fourth round Group A outing of the Patron’s Trophy Grade-II here at NBP Sports Complex on Friday. The left-handed Sami struck 72 off 102 balls, striking seven fours and one six. Abid, a promising batsman, made 59 with six fours and one six. Nasir scored a sedate 54 off 99 balls, featuring five fours and one six. Ashiq Ali got 5-93. Ata-ur-Rehman and Mohammad Bilal got two wickets each. In response, Candyland were reeling at 42-3 at stumps. In another Group A show, here at UBL Sports Complex, Haideri Traders scored 279 all out in their first innings against Pak Saudi thanks to Mohammad Ismail’s superb 120, which came off 171 balls and had 18 fours. Asher Qureshi got 3-50, while Mohammad Akhtar and Mohammad Imran captured two wickets each. Pak Saudi, in response, were 47-1, at stumps. Here at State Bank of Pakistan (SBP) Ground, Civil Aviation Authority (CAA) scored 280-5 in their first innings against Karachi Port Trust (KPT). Haris Ali Khan scored spectacular 96 off 195 balls and hit seven fours and one six. Yasir Mushtaq belted 87 off 179 balls, striking seven fours. Sheraz Ali remained not out on 51. Mohammad Yaqoob and Rashid Hanif got two wickets each. KPT, in response, were 24 without loss. In a Group [Read More…]

Feb 222017
 

ISLAMABAD: The State Bank of Pakistan never allowed any individual to buy offshore properties and people who invest abroad transfer money through both legal and illegal channels, the central bank’s governor told a National Assembly panel on Wednesday. “Everyone knows how people transfer money abroad … and these channels are Hawala, Hundi and the Protection of Economic Reforms Act (PERA) of 1992,” Ashraf Wathra said in a meeting of NA Standing Committee on Finance and Revenue. Govt owns two offshore companies, PM’s counsel tells SC Wathra said the SBP does not have legal mandate to perform an ‘investigative role’, as this is the function of other state agencies. He finally answered a question Pakistan Tehreek-e-Insaf MNA Asad Umar had been asking for many months – whether SBP allowed anybody to buy properties abroad, as the Dubai Land Department record showed that Pakistanis invested $6.6 billion from 2013 to 2015. Wathra’s statement once again puts spotlight on systematic weaknesses that are fully exploited by both, the wealthy class and corrupt individuals. However, no one including SBP is keen to plug these lacunae in the law, as the central bank on record has opposed amendments in PERA moved by Pakistan Peoples Party Senator Saleem Mandviwalla. “The governor’s statement on Hawala shows that money laundering is being carried out in the country,” said Umar. He said the governor’s statement also shows that thousands of Pakistanis have broken the law by laundering money and evading taxes. Money-laundering: Government sets up Financial Monitoring Unit   SBP [Read More…]

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