PM Khan launches COVID-19 vaccination drive in Pakistan

Prime Minister Imran Khan witnesses the first COVID-19 vaccine in Pakistan being administered to a doctor in Islamabad on February 2, 2021. (PID Photo)
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Updated 02 February 2021
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PM Khan launches COVID-19 vaccination drive in Pakistan

  • The prime minister thanks China for donating Sinopharm vaccine, asks people to take precautions against the disease
  • Khan says his administration is ensuring equitable vaccine distribution among provinces

ISLAMABAD: Pakistan began its coronavirus vaccination campaign from the federal capital on Tuesday, as one of the doctors received a shot in the presence of Prime Minister Imran Khan and his senior cabinet members.
Addressing the ceremony, the premier expressed his gratitude to his country’s closest ally, China, for sending 500,000 doses of Sinopharm vaccine.
“We will give first priority to our health workers who deal with COVID-19 patients,” Khan said while explaining different stages of the immunization drive. “This will be followed by people who are more vulnerable to the disease due to their advanced age.”
The prime minister maintained that his administration was ensuring equitable vaccine distribution among all provinces.
“Pakistan has done better than the rest of the world [in terms of the number of infections] for which we should be thankful to God,” he continued. “However, I will request everyone to follow the SOPs [standard operating procedures] and continue to wear face masks.”
On Monday, Pakistan received a batch of 500,000 doses of the Sinopharm vaccine from China as a gift.
The South Asian nation of 220 million is expected to receive another tranche of 1.2 million doses that Pakistan has pre-booked from China.
Pakistan has also secured 17 million doses of AstraZeneca’s COVID-19 vaccine under a global scheme to deliver coronavirus treatments to developing nations.

 

 


Pakistan slashes power tariff for industries by Rs4.4 per unit to spur growth

Updated 12 min 40 sec ago
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Pakistan slashes power tariff for industries by Rs4.4 per unit to spur growth

  • The development comes as Pakistan seeks to boost exports to ensure economic recovery under a $7 billion IMF program
  • PM Sharif also announces lowering export refinance rate from 7.5 percent to 4.5 percent, and electricity wheeling charges to Rs9 per unit

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced a Rs4.4 ($0.014) cut in electricity tariffs for industrial consumers, saying the move is aimed at lowering production costs and spurring economic activity in Pakistan.

Manufacturers in Pakistan have long complained of high electricity price, i.e. Rs22.98 per unit, for industrial consumers, arguing that it has dampened industrial growth and made local products less competitive globally.

The reduction in power tariffs for industries is expected to lower production costs that will allow exporters to offer more competitive prices in international markets and increase profit margins through higher capacity utilization.

Addressing businessmen and exporters at a ceremony in Islamabad, Sharif said there was no alternative to export-driven economic growth and his government will devise all future economic policies in consultation with them.

“Four rupees and four paisas per unit are being reduced in electricity tariffs for industry,” the prime minister announced at the ceremony. “If it were up to me, I would reduce it by another 10 rupees, but my hands are tied.”

The development comes as Pakistan, which has long struggled with boom-bust cycles, seeks to boost foreign investment and increase exports as it navigates a long path to economic recovery under a $7 billion International Monetary Fund (IMF) program.

The prime minister said they have reduced the export refinance rate from 7.5 percent to 4.5 percent.

“I believe this is a very significant facility being extended to you,” he said. “God willing, it will help Pakistan’s exports rebound and it will certainly be of immense benefit, especially to those who need financing.”

During his address, Sharif also announced lowering wheeling charges for industries by Rs9 ($0.032) per unit, noting the country’s economy had stabilized, inflation had come down to single digits and the policy rate stood at 10.5 percent.

In Pakistan, wheeling charges refer to fees paid by electricity consumers and generators to use the national grid’s transmission and distribution network to move electricity from suppliers to end-users under the Competitive Trading Bilateral Contracts Market (CTBCM).

“I think this should help you sell your power to neighboring industries,” he told businesspersons at the event.