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Government promoting foreign investment to strengthen national economy: PM Shehbaz Sharif 

"The government took difficult decisions to revive the economy"

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Government promoting foreign investment to strengthen national economy: PM Shehbaz Sharif 
GNN Media: Representational Photo

Islamabad: Prime Minister Shehbaz Sharif on Friday said the promotion of foreign investment in the country was one of the top priorities of the government.

Talking to a delegation of the Pakistan-American Business Forum, he said the government was committed to ensuring favorable conditions for foreign investors with an aim to strengthen the national economy. 

The delegation included Secretary General Pakistan American Business Forum Waqar Khan, President Riaz Hussain, and Senior Vice President Anwar Azam. Federal Minister for Parliamentary Affairs Murtaza Javed Abbasi and senior officials also participated in the meeting.

PM Sharif said the coalition government came to power during tough times with an objective to uphold the sanctity of State over politics.  

He mentioned that the government took difficult decisions to revive the economy and save the country from default. 

He held the previous government responsible for imparting damage to the economy, however, said, efforts were afoot to ensure the development of the country through hard work.  

On electricity generation, the prime minister said short-term and long-term plans would be implemented to cut dependence on imported fuel. 

He said a project to generate power up to 7,000 megawatts through renewable sources including solar and wind was in the offing. 

As part of austerity measures, he mentioned the imposition of a ban on the import of luxury goods as well as the reduction of unnecessary government expenditure.

The delegation appreciated the measures taken by Prime Minister Shehbaz Sharif for the restoration of the economy, besides extending facilities to the export industry and addressing the problems of overseas Pakistanis.

The delegation apprised the prime minister about their problems and also gave feedback on various related matters.  

The prime minister instructed the authorities concerned to resolve their problems on a priority basis and assured them of every possible facilitation by the government.  

 

Pakistan

President urges youth to participate in monsoon plantation drive to cope with climate change

"Pakistan was the eighth country most vulnerable to the negative effects of climate change"

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President urges youth to participate in monsoon plantation drive to cope with climate change

Islamabad: President Dr Arif Alvi on Thursday called for concerted efforts by all segments of society to carry out extensive plantations in a bid to save the country from the horrendous effects of climate change.

In his message on the launch of the national monsoon tree plantation drive, he urged every citizen, particularly youth, to actively participate in the campaign by planting trees in residential areas, on roadsides, and near industrial zones.

President Alvi said Pakistan was the eighth country most vulnerable to the negative effects of climate change.

He mentioned that rising mercury levels were resulting in glacier melting and urban flooding.

During the last 19 years, he said, Pakistan suffered around 173 incidents related to climate change besides the massive destruction this year as well.

The president said as per international standards, a country required 25 percent forest cover, however, pointed out that Pakistan only had 4.8 percent of the green area according to a World Bank report.

He emphasized carrying out plantation at a large scale across the country and mentioned the Ten Billion Tree Tsunami as the largest such plantation project in the country’s history.

Under the project, he said, 1.81 billion trees had been planted by June 2022. By 2023, around 3.29 billion trees will be planted.

President Alvi said 10,000 saplings were planted in the premises of the Aiwan-e-Sadr in 2021, while a Miyawaki forest was also raised at an area of 1.5 acres under the Green Presidency Initiative.

He expressed confidence that an increase in forest cover would help mitigate the effects of climate change in the country and would also control urban flooding.

Also, the extensive plantation would result in the preservation of wildlife and flora and fauna in the country, he added.

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At least 26 killed, dozens injured in northern Algeria forest fires 

Deaths include 24 people in El Tarf and two in Setif, with hundreds forced to leave their homes

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At least 26 killed, dozens injured in northern Algeria forest fires 

El Tarf: At least 26 people died and dozens of others were injured in forest fires that ravaged 14 districts of northern Algeria on Wednesday, the interior minister said. 

Kamel Beldjoud told state television that 24 people lost their lives in fires in El Tarf, near the border with Tunisia, in addition to two others who died earlier in Setif.

The civil protection agency in Setif had said that two women, "a 58-year-old mother and her 31-year-old daughter", were killed in the town.

In Souk Ahras, farther to the east near Algeria's border with Tunisia, people were seen fleeing their homes as fires spread before firefighting helicopters were deployed.

An earlier toll said four people in Souk Ahras suffered burns and 41 others had breathing difficulties, the authorities said. Media reports said 350 residents had been evacuated.

No updated toll was given on the number of people injured in the fires in other areas.

The gendarmerie has closed several roads as a result of the fires.

"Thirty-nine fires are underway in 14 wilayas (administrative councils)," the civil protection agency said, noting that El Tarf was the worst hit, with 16 fires in progress.

Helicopters used bambi buckets to drop water on fires in three wilayas, including Souk Ahras.

Since the start of August, 106 fires have broken out in Algeria, destroying more than 2,500 hectares of woodland.

Beldjoud said some of the fires were started by people.

Wednesday's toll brings the total number of people killed in wildfires this summer up to 30.

Algeria is Africa's largest country but it only has 4.1 million hectares (10.1 million acres) of the forest.

Each year the north of the country is affected by forest fires, a problem that has worsened due to climate change.

Last year, at least 90 people died in forest fires that ravaged northern Algeria, destroying more than 100,000 hectares of woodland.

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Japan urges young adults to drink more alcohol

Japan's young adults are a sober bunch - something authorities are hoping to change with a new campaign.

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Japan urges young adults to drink more alcohol

Japan's young adults are a sober bunch - something authorities are hoping to change with a new campaign.

The younger generation drinks less alcohol than their parents - a move that has hit taxes from beverages like sake (rice wine). 

So the national tax agency has stepped in with a national competition to come up with ideas to reverse the trend.

The "Sake Viva!" campaign hopes to come up with a plan to make drinking more attractive - and boost the industry.

The contest asks 20 to 39-year-olds to share their business ideas to kick-start demand among their peers - whether it's for Japanese sake, shochu, whiskey, beer or wine.

The group running the competition for the tax authority says new habits - partly formed during the Covid pandemic - and an ageing population have led to a decline in alcohol sales.

It wants contestants to come up with promotions, branding, and even cutting-edge plans involving artificial intelligence.

Japanese media say the reaction has been mixed, with some criticism about the bid to promote an unhealthy habit. But others have posted quirky ideas online - such as famous actresses "performing" as virtual-reality hostesses in digital clubs.

Contestants have until the end of September to put forward their ideas. The best plans will then be developed with help from experts before the final proposals are presented in November.

The campaign's website says Japan's alcohol market is shrinking and the country's older demographic - alongside declining birth rates - is a significant factor behind it.

Recent figures from the tax agency show that people were drinking less in 2020 than in 1995, with numbers plummeting from 100 litres (22 gallons) a year to 75 litres (16 gallons).

Tax revenue from taxes on alcohol has also shrunk over the years. According to The Japan Times newspaper, it made up 5% of total revenue in 1980, but in 2020 amounts to just 1.7%.

The World Bank estimates that nearly a third (29%) of Japan's population is aged 65 and older - the highest proportion in the world.

Concerns about the future of sake is not the only problem that poses for Japan's economy - there are worries about the supply of younger staff for certain types of jobs, and care for the elderly in the future.

SOURCE: BBC

 

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