November 23, 2020: Prime Minister Imran Khan says Pakistan has shown marked growth in large scale manufacturing.
In a Facebook post, the Prime Minister said the big industry output grew by 3.66% between July and August as compared with the same period last year reflecting a revival in economic activities.
Radio Pakistan
38163
January 20, 2021: Prime Minister Imran Khan has directed to speed up measures for procurement and supply of the approved coronavirus vaccines in the country.
He was presiding over a meeting of the committee constituted for procurement of coronavirus vaccine in Islamabad.
The Prime Minister was informed that measures have been taken for procurement of two approved COVID-19 vaccines and its supply will be ensured in the first quarter of the current year.
He was also informed that approval has been given for the emergency use of two vaccines during the last few days while measures are being fast-tracked for approval of more vaccines.
Radio Pakistan
January 20, 2021: Federal Cabinet, under the second schedule of the Income Tax Ordinance 2001, has approved tax exemption on the profits gained through Euro Bonds, dealings in International Sukuk issued under the government’s medium-term notes, and Panda Bonds, issued in the Chinese market.
The cabinet meeting held in Islamabad, with Prime Minister Imran Khan in the chair, also gave a go-ahead to the Ministry of National Health Services to directly make a five-year agreement with NADRA for data verification of the Sehat Sahulat Programme.
The meeting was briefed in detail about the measures taken during the last six months with respect to civil service reforms.
The Prime Minister directed the ministries and divisions to take steps, in line with the reforms, for improved performance and further ensuring the ‘ease of doing business’.
Briefing the cabinet about the effects of the COVID-19 pandemic in the country, Minister for Planning Asad Umar said around 20 million people lost their incomes to the large extent in April last year.
He said it was the government’s prudent strategy, adoption of smart lockdown policy, and the decision making in construction and manufacturing sectors that led to a revival of the incomes of 20 million people.
The Prime Minister appreciated the timely and transparent distribution of cash grants among the deserving in the coronavirus situation.
He said the data based on a recent survey by FBS is reflective of the fact that the government’s strategy regarding COVID-19 remained successful.
The Federal Cabinet approved the formation of the Board of Directors of the National Transmission and Dispatch Company under the Power Division.
The meeting also approved the Ministry of National Health Services Regulations and Coordination to enter into a five-year contract directly with NADRA for verification of WGRM data on health facilities.
Radio Pakistan
January 20, 2021: Asian shares climbed to a record high on Wednesday as U.S. Treasury Secretary nominee Janet Yellen advocated for a hefty fiscal relief package to help the world's largest economy ride out a pandemic-driven slump.
At her confirmation hearing on Tuesday, she said the benefits of a big stimulus package are greater than the expenses of a higher debt burden.
U.S. President-elect Joe Biden, who will be sworn into office on Wednesday, last week laid out a $1.9 trillion stimulus package proposal to boost the economy and speed up the distribution of vaccines.
"There will be a large-scale fiscal spending. The Fed is seeking to achieve two percent inflation and full employment, which still look distant, so it will keep interest rates low for some time and market sentiment should remain robust," said Yoshinori Shigemi, macro strategist at Fidelity International.
MSCI's Asia-Pacific index outside Japan rose 0.95%, reaching its highest level ever.
Hong Kong's Hang Seng rose 1.0% to approach its 2019 peak while Australian shares added 0.6% to reach an all-time high. Japan's Nikkei, however, slipped 0.45% on profit-taking.
The U.S. Nasdaq futures gained 0.4%, with Netflix shares jumping 12.6% after the bell as the streaming pioneer reported strong growth in subscribers and projected it will no longer need to raise debt.
The results came after all three major Wall Street indexes posted solid gains on Tuesday.
U.S. President Donald Trump, in a farewell address released on Tuesday, touted his legacy and wished luck to the new administration even though he steered clear of acknowledging his successor by name.
Biden will take office on Wednesday under unprecedented security measures after the Jan. 6 assault on the Capitol.
"The transition will likely be smooth and hassle-free, so that's another reason supporting markets overall," said Yasutada Suzuki, head of emerging markets investment at Sumitomo Mitsui Bank.
In the currency market, the dollar was on the back foot against other currencies.
The euro stood at $1.2148, up 0.15% and off Monday's 1 1/2-month low of $1.2054, drawing support from a ZEW investor sentiment survey that beat forecasts and the Italian government surviving a confidence vote.
The yen was little moved at 103.81 to the dollar while the Chinese yuan ticked up about 0.1% to 6.4741 per dollar.
Oil prices rose on hopes that Biden's proposed stimulus will lift economic output.
U.S. crude futures inched up 0.3% to $53.15 a barrel while international benchmark Brent futures rose 0.3% to $56.09 per barrel.
Reuters
