Latest news with #KhalidMagsi
Business Recorder
2 days ago
- Business
- Business Recorder
3m jobs by 2030 eyed: National AI Policy approved
ISLAMABAD: Pakistan on Saturday approved its first National Artificial Intelligence (AI) Policy, a landmark step aimed at creating three million jobs in the AI sector by 2030 and boosting the country's GDP by seven to 12 percent. Federal Minister for Information Technology, Shaza Fatima said the policy provides a complete roadmap for AI development, ensuring safe and responsible use of the technology while enabling Pakistan to compete in the global AI race. She noted that the initiative is designed not only to strengthen the domestic tech ecosystem but also to open opportunities for international collaboration, innovation, and economic growth partnership with Romania to expand tech opportunities In a separate development, Federal Minister for Science and Technology Khalid Magsi met with Romanian Ambassador to Pakistan. Both countries agreed to deepen cooperation in science and technology. Romania has invited Pakistan to participate in European funding programs, which Magsi said could open 'new avenues in technology' for the country. He highlighted that Romania is emerging as a significant IT hub in Europe and is eager to strengthen ties with Pakistan in the tech sector.
Express Tribune
26-02-2025
- Business
- Express Tribune
PAC seeks action on power defaulters
The Public Accounts Committee (PAC) on Tuesday summoned details of the top 300 defaulters, as both public and private entities owe trillions to power distribution companies (DISCOs). Due to the failure of DISCOs to recover outstanding dues, the national exchequer has suffered a loss of Rs877 billion. A PAC meeting, chaired by Junaid Akbar, reviewed the audit objections related to the Power Division for the fiscal year 2023-24. The session was apprised that DISCOs had pending recoveries of over Rs877 billion from defaulters during the financial year 2022-23. An audit report revealed massive outstanding dues across various power distribution companies (DISCOs). In FESCO, 513 consumers collectively owe Rs2.47 billion. HESCO has 5,900 consumers with unpaid dues amounting to Rs44.46 billion. Meanwhile, LESCO faces arrears of Rs16.1 billion from 3,736 consumers. PESCO has 824 consumers who owe Rs8.6 billion, while QESCO's outstanding dues stand at a staggering Rs603.35 billion from 2,428 consumers. SEPCO is owed Rs119.837 billion by 342 consumers. TESCO has 146 consumers with unpaid bills totalling Rs6.17 billion. Meanwhile, IESCO's outstanding dues amount to Rs200 million from 142 consumers. Audit officials informed the committee that 118 letters had been sent to the Power Division for recovery efforts, with QESCO having the highest number of unresolved cases. During the session, committee member Khalid Magsi expressed frustration over Balochistan's deteriorating law and order situation, claiming that movement in the province has become nearly impossible. He said that people in Balochistan are left with no option but to take up arms, alleging that BLA operatives roam freely in the streets. He further asserted that dues recovery in Quetta was no longer feasible, saying the Balochistan government was itself the biggest defaulter. In response, the Power Division Secretary informed the committee that DISCOs have submitted working papers for the recovery of Rs162 billion, pledging to personally monitor the progress. The PAC chairman instructed the auditor general to verify the claim by the next session and directed the Power Division to conduct two Departmental Accounts Committees (DACs) each month, with a monthly report on recoveries. The committee also scrutinised DISCOs' failure to remove outdated electrical equipment and recover outstanding dues exceeding Rs501 billion. It was revealed that DISCO officers had been availing free electricity, prompting the Power Secretary to announce that the federal government has decided to discontinue free electricity units.
