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Federal govt to spend Rs30bn on infrastructural uplift in Karachi, Hyderabad: PM
13 August 2017, 07:21 | Opal Carroll
President Rouhani sent a message to the Prime Minister of Pakistan Shahid Khaqan Abbasi to congratulate him on his election
Prime Minister Shahid Khaqan Abbasi is likely to reach Karachi on Saturday, sources said. The meeting which was briefed on security situation in the province, in general, and Karachi, in particular, reaffirmed that peace and tranquility would be maintained at all cost. "The federal government is concerned at the recent surge in street crime in Karachi, which can compromise the gains made through sustained efforts of four years".
The prime minister announced a Rs25 billion development package for Karachi and Rs5bn for Hyderabad to be provided by the federal government.
"The MQM voted for my election as prime minister not against any demand or condition", he emphasised.
Meanwhile, a delegation of Muttahida Qaumi Movement-Pakistan (MQM-P) led by Farooq Sattar called on PM Abbasi at Governor House Karachi, calling for political freedom for the party. He said in the meeting it was decided that the Rangers would keep up their task and the federal government would extend its full support to them to achieve the desired results.
The premier paid a visit to Mazar-e-Quaid along with Murad Ali Shah, Muhammad Zubair, Ahsan Iqbal and other dignitaries, laid a floral wreath at the mausoleum and offered Fateha to pay homage and respect to the father of the nation. "He has not targeted any individual or any institution".
Gold steady near 2-mth highs as N. Korea tensions continue
Earlier in the week, Trump said the USA would unleash " fire and fury " on North Korea if it continued to threaten the U.S. An index of 15 gold miners tracked by Bloomberg Intelligence climbed 1.1 percent, led by Toronto-based Yamana Gold Inc.
To a question, he reiterated that Nawaz Sharif was his prime minister.
Dr Farooq Sattar held a detailed discussion on Karachi's situation with the PM.
The PM during his interaction with the media at the airport hinted at his role to address the MQM-Pakistan's "complaints".
He said the PML-N government after evolving consensus among all the stakeholders, and due to the unmatched sacrifices of the law enforcement and security agencies has restored peace and glory of the financial hub of the country. He said in Hyderabad the federal government would fund the construction of a university, besides other development projects. In the wake of smooth transition, the Cabinet took oath and the government started functioning immediately, which was good for democracy and has renewed confidence of the business community.
The prime minister said that he was extremely happy and thankful to be among the business community in his first visit to Karachi.
North Korea standoff wipes $1trn off global stocks
South Korea's fell 1.7 percent to its lowest since May 24, but its losses for the week are a relatively modest 3.2 percent. The Federal Reserve is likely to scale back on its expected pace of interest rate hikes if inflation continues to be soft.
No Easy Military Options in North Korea
Speaking to journalists at his New Jersey golf club, the President said that he didn't think his comments had been "tough enough". He warned that the tragedy of war is well known and a military conflict could be 'catastrophic'.
Equities fall on rising tension between US & North Korea
Barrick Gold Corp rose 2.3 per cent to C$21.74 as the price of gold, a safe-haven asset, reached its highest levels in two months. Investors instead turned to safe-haven assets such as gold, pushing it to a two-month high, and the Japanese yen JPY= rose.