November 12th, 2008 by The Online Reporter
Executive Committee of National Economic Council (ECNEC) on Tuesday accorded approval to the Diamer-Bhasha dam worth $12.6 billion.
Federal Minister for Water and Power, Raja Pervez Ashraf during the press briefing on the Diamer-Bhasha dam project said that dam would generate 4500MW electricity. He said that government would open bids for the pre-qualification of the project by November 30 to hire contractors.
Minister said that ECNEC had also approved comprehensive plan for the displaced families and they would be provided compensation. The project would be completed in the next seven years. Minister further said that project would provide electricity worth $1.5 billion per annum and the agriculture sector would get the benefit of $500 million annually.
November 10th, 2008 by The Online Reporter
Munaf kalia confessed to illegally transfer foreign currency for the last five years; more raids are expected from FIA to arrest more dollar smugglers. FIA got list of 32 people who smuggled 39 billion dollars to other countries. According to reports these money changers were transferring $10 million daily through “Havala” and “Hundi” system, which badly affected Pakistan’s forex reserves.
The sources said Munaf Kalia and Javed Khanani had confessed that they were asked by various locals to transfer their foreign currency to their relatives and friends living abroad. This smuggling of foreign currency has resulted in a massive downward slide in the country’s forex reserves, which have depleted from over $ 16 billion in Oct 2007 and now stand at below $ 7 billion, the sources said.
Lots of local politicians and big daddies of finance are expected to be disclose after Javed khanani and Munaf kalia’s statement. Now let’s see how agencies handle this important issue about currency fraud and punish real responsible.
November 9th, 2008 by The Online Reporter
Countrywide crackdown has been conducted against persons who were involved in illegal business of foreign currency transfer. FIA arrested some big daddies like Javed Khanani and Munaf Kalia of Khanani and Kalia International (KKI).
‘We have registered a case under Foreign Currency Regulation Act 1974 and Electronic Transaction Ordinance (ETO) against the accused’, FIA official claimed.
He said that it was only the start as more raids would be conducted in days to come to curb this illegal business which was harmful to country.
He said that accused were involved in sending huge amount of US dollars out of the country causing balance of payment problems in the country.
November 8th, 2008 by The Online Reporter
Law has been issued to severely punish anyone who commits any kind of cyber crime buy using computers and mobile devices. Any one who commits cyber terrorism which causes loss of human lives will be sentenced to death or life imprisonment.
The law, which is applicable to both Pakistani and foreign citizens living in the country or abroad, establishes other punishments for misdemeanors such as electronic fraud, forgery, damage to electronic systems or illegal access to computer networks.
November 5th, 2008 by The Online Reporter
Governor Punjab Salman Taseer has said that the Pakistan Peoples Party would soon control over all the crises facing to nation and country at present. He said that the Local Bodies System of government would be protected at all cost. He stated this while addressing a public meeting at Pindi Bhattian on Tuesday. Tehsil Nazim Pindi Bhattian Mian Ansar Abbas Bhatti arranged reception in honor of the Governor Punjab. A great number of PPP workers, local leaders and elite of the area were present on the occasion. The Governor said that the PPP dethroned former President Pervez Musharraf through the democratic way and avoided adopting politics of confrontation for the greater interest of the country. He said the Pakistan Peoples Party included the smaller parties in governments at center and provinces, as in Sindh it made coalition government by including MQM and in Balochistan with the other parties to end the feelings of deprivation in the smaller provinces.
Governor announced to accord approval for establishing park, construction of stadium and Press Club building and supply of suigas in Pindi Bhattain, besides establishing of Sukheki Interchange on Motorway.
