ISLAMABAD: A week after China donated 500,000 doses of a COVID-19 jab to Islamabad, its People’s Liberation Army (PLA) delivered another vaccine set to Pakistan, the military said on Monday.
“People’s Liberation Army, People’s Republic of China has donated COVID-19 vaccine for Pakistan Armed Forces,” a statement by the Inter-Services Public Relations (ISPR), the Pakistan military’s media wing, said.
It added that it was the first time China had provided coronavirus vaccines to a foreign military.
“Keeping with the Pakistan Armed Forces’ traditional spirit of the nation comes first, always and every time, it has been decided to contribute complete vaccine donation by PLA to Pakistan military,” the statement said, before extending their “deepest gratitude” to the PLA for this “magnanimous donation during testing times.”
Pakistan’s official death toll from coronavirus infections crossed the 12,000 mark on Monday after 59 new fatalities were recorded in the past 24 hours, data from the government’s COVID-19 portal showed.
It also registered 1,037 new infections in a single day, taking the national tally to 555,511 cases.
Pakistan launched a nationwide COVID-19 vaccination drive with the Sinopharm vaccine on Feb. 2, after receiving half a million jabs as a “gift” from China.
It aims to inoculate 70 million, out of 100 million eligible people, by the year-end.
In order to safeguard its population of 220 million, Pakistan has also approved the use of three coronavirus vaccines, namely China’s Sinopharm, Oxford University-AstraZeneca and Russia’s Sputnik-V, while 582 emergency vaccination centers have been established for the initiative.
Pakistan military first to receive COVID-19 vaccines from Chinese army
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Pakistan military first to receive COVID-19 vaccines from Chinese army
- Will donate all jabs for use in nationwide vaccination drive which was launched last week, ISPR says
- Earlier, Beijing had also donated half a million doses of the Sinopharm vaccine to Islamabad as a “gift”
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.
