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NITB to award Rs2bn “Nationwide E-parliament system” contract



The Nationwide Data Know-how Board (NITB) is all set to award an Rs2 billion “Nationwide E-parliament system” contract to blue-eyed firms.  

Sources mentioned that NITB has introduced the technical analysis outcomes of the only bidder on April 28, 2022, simply earlier than the Eid holidays, in order that nobody can file a grievance towards the technical analysis outcomes in the course of the holidays.      

As well as sources mentioned that greater than a dozen IT firms together with 5 to 6 main nationwide IT firms have participated within the pre-bid assembly associated to the Nationwide E-parliament system held on March 2, 2022, and reportedly all of the main IT firms protested the eligibility standards ‘engineered’ to favour the particular bidder, sources claimed.

There have been some controversial Joint Enterprise phrases engineered to favour particular bidders like RFP clause 3.7 (C) which is “Monetary power that can be thought of solely by the Lead Bidder”. 

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Sometimes, the businesses type a JV so as to mix the technical and monetary sources. Nonetheless, such a clause has by no means been seen earlier than in any of the tenders in Pakistan the place the monetary sources power of solely the lead bidder is taken into account, Sources additional mentioned that this clause is in contradiction with the spirit of PPRA guidelines and the Pakistan/PEC Customary Bidding doc.

Equally, there was one other controversial JV clause engineered “Three way partnership (JV) association possibly to pool their sources (Technical and HR solely), nonetheless, all of the JV firms should be in IT enterprise, and all should be registered with SECP at the least for the final 04 years” which suggests firms can ideally type JV with HR firms to pool IT sources solely, which is towards the everyday spirit of JV association and all should be registered with SECP with a really particular time period i-e final 04 years.

Sources additionally mentioned that there have been additionally particular clauses within the 11.1 Eligibility and 11.2 Technical Analysis Standards of the RFP which had been engineered to offer the marks distribution choice to the only bidder. 

All of the bidders requested NITB to offer three to 4 weeks’ extension within the bid submission date within the Software program growth part E-parliament undertaking as per the assembly of pre-bid minutes nonetheless, the division had declined the request for extension within the bid submission date on March 4, 2022, late night resulting from which not solely the bidders fail to arrange 2% of the bid safety quantity on the closure of banks. Ultimately, NITB obtained just one bid on March 7, 2022.

After technical analysis outcomes, NITB opened a monetary bid of Rs522 million quoted by agency Abacus, whereas the planning fee in PC-1 allotted Rs212 million for the software program growth part.

Sources mentioned that NITB has additionally printed one other tender “Broadcast Digicam, Grasp management Room, Video Conferencing System, Microphone Convention System & SIS System for Parliament” which is the sub-component of the E-parliament system in parallel dated March 12, 2022.

The tender bought prolonged third time till Could 16, 2022, which suggests NITB was intentionally concerned in not extending the Software program growth part E-parliament undertaking to handle for the only bidder which is technically extra complicated and complete than the printed, audio-video conferencing and SIS system, sources added.

It’s pertinent to say right here that Pakistan Tehreek Insaf (PTI) authorities had prolonged the tenure of appearing ED/CEO Syed Hussain Abbas Kazmi, an MP-2 scale officer with a background in HR & Admin,  for the fifth time on the advice of excessive ups of the Ministry of Data Know-how and Telecom.

Sources mentioned that the Prime Minister’s workplace in January 2022 talked about whereas granting the 4th extension for 45 days to Kazmi that no additional extension shall be granted for any motive and directed the Ministry of IT and Telecom to nominate the everlasting ED. Additional, the institution division noticed of their abstract to the Prime Minister’s workplace,  MP Scales Coverage 2021 doesn’t include any provision which permits grant of any cost of a put up to an MP Scale holder Syed Hussnain Abbas Kazmi on Particular Skilled Pay scale Publish (SPPS) for ED/CEO NITB. 

Regardless of the institution of robust disagreements on the Kazmi extension,  Kazmi bought the fifth extension till nineteenth Could 2022. He’s additionally an appearing member of the board of esteemed technical organizations PTCL,  NTC,  PITC and ignite regardless of the very fact of his earlier employment expertise within the instructional/ college sector.

The appearing ED/CEO whereas speaking to this scribe mentioned that NITB has shaped a committee comprising technical and administrative officers of the Ministry of IT&T, Senate, and Nationwide Meeting and fulfilled all formalities together with conserving in view the PPRA guidelines in awarding the contract for the Software program growth part of the E-parliament undertaking.

Then again, the NITB prolonged the date within the “Broadcast Digicam, Grasp management Room, Video Conferencing System, Microphone Convention System & SIS System for Parliament” tender resulting from OIC holidays in addition to a fancy mannequin. 

In the meantime, he additionally mentioned that any official can turn into the pinnacle of NITB in addition to board members of organizations PTCL,  NTC,  PITC and ignite.

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Coal energy crops allegedly exploiting imported coal costs



ISLAMABAD: Coal energy crops within the nation are allegedly charging costs for imported coal while utilizing low-quality coal of their crops. The crops are supposedly doing this to benefit from the excessive costs of coal on the worldwide market. The revelations have been made throughout a hotly adopted public listening to of the Nationwide Electrical Energy Regulatory Authority (NEPRA) on coal pricing mechanism.  

Throughout the NEPRA’s public listening to, it was knowledgeable that the coal energy crops are manipulating costs of coal by importing poor high quality of coal for energy crops. The coal energy crops use offspec coal, however they have been charging the value of upper high quality coal.

These coal-based energy crops had dedicated to make use of coal containing 6000 calorific values (CVs) however that they had been importing coal with 4500 to 5500 CVs. So, they have been utilizing offspec coal however they have been charging the value of upper high quality coal.

Coal value ought to be scaled down primarily based on high quality of coal whereas coal energy crops have been demanding the speed for 6000 CVs, it was knowledgeable through the public listening to.

It was additionally knowledgeable that these coal energy crops had inked agreements with merchants whereas these agreements ought to be signed with coal mines homeowners. Equally, these crops have been receiving totally different reductions on CVs, sulphur and moisture and weren’t prepared to present reductions to the facility shoppers. Moreover, they have been receiving totally different reductions on CVs, sulfur, and moisture, however weren’t prepared to present reductions to the facility shoppers.

Throughout the NEPRA listening to, it was additional knowledgeable that Pakistan had been dealing with problems with change price and opening Letter of Credit (LCs) for coal import. Officers of the facility division knowledgeable that a number of Chinese language banks have been able to open LCs in RMB, and coal-based unbiased energy crops (IPPs) ought to contemplate importing coal in RMB.

Throughout the listening to, the difficulty of importing coal by way of spot purchases was additionally raised.

A degree was raised within the assembly that in line with energy buy agreements signed with imported coal-based energy crops, the IPPs can import 10 p.c coal by way of the spot market. Upon this, the regulator instructed a rise within the share from 10 to twenty p.c and the coal ought to be imported by way of a bidding course of to get aggressive value of coal from native and worldwide markets.

The coal-based IPPs representatives mentioned that that they had long-term contracts with coal suppliers and subsequently bought the value by way of negotiation. Concerning the API 4 differential, they mentioned that that they had confronted a sudden deduction of differentials with out prior discover. They mentioned that it was achieved with out an open listening to, and the gas value element was utilized. They mentioned that 44 ships had been affected on account of this.

“Now how can I modify the contract by way of a notification from NEPRA?” a coal-based IPPs consultant mentioned in bewilderment. “All the course of can be disrupted if we’re directed to go to the spot market,” they mentioned.

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SECP introduces Shariah Governance Framework 2023



ISLAMABAD: In a stride in direction of enhancing the regulatory panorama of Islamic finance, the Securities and Alternate Fee of Pakistan (SECP) has unveiled the Shariah Governance Rules, 2023. These rules mark a significant overhaul, amalgamating and superseding the prior Shariah Governance Rules of 2018 and the Shariah Advisors Rules of 2017.

Underneath the authority granted by Part 512(1) together with Part 451 of the Corporations Act, 2017, the brand new framework introduces a number of pivotal modifications. A notable spotlight is the introduction of voluntary Shariah supervisory boards, offering organizations with the choice to ascertain devoted our bodies for overseeing compliance with Shariah ideas. This progressive method is poised to foster a extra sturdy adherence to Islamic finance ideas.

Moreover, the Shariah Governance Rules, 2023, now embody a complete framework for Shariah inventory screening of listed securities, making certain that Islamic moral requirements are upheld all through the monetary markets. Importantly, the jurisdiction of Part 451 of the Corporations Act has been reinstated, extending its attain to embody all securities.

One of many key enhancements is the elimination of the necessity for periodic renewal of Shariah-compliant securities. This simplifies compliance procedures for market contributors, streamlining their operations. Moreover, the {qualifications} and expertise stipulations for Shariah advisors have been bolstered to make sure that these consultants possess the mandatory experience to information organizations successfully.

Furthermore, the rules have redefined the powers and capabilities of Shariah advisors, granting them the authority to supply their providers throughout all regulated sectors. This variation paves the way in which for a extra cohesive method to Shariah compliance, whatever the sector in query.

One other noteworthy function is the introduction of a standardized format for unbiased assurance stories by exterior Shariah auditors, aligning with pointers established by the Institute of Chartered Accountants of Pakistan (ICAP). This ensures transparency and consistency in Shariah compliance assessments.

The formulation of those pioneering rules was a results of intensive public session, with enter from numerous stakeholders, together with representatives from listed corporations, brokers, asset administration corporations, mutual funds, and Shariah advisors. This collaborative method ensures that the rules are reflective of trade wants and greatest practices.

The revealing of the Shariah Governance Rules, 2023, is poised to have a transformative affect on the Islamic finance sector in Pakistan. This complete framework is anticipated to instill confidence in Islamic finance, attracting each native and worldwide buyers. Moreover, it is going to contribute to monetary stability and foster innovation throughout the sector, aligning with SECP’s strategic priorities.

Moreover, these rules are anticipated to stimulate development in sectors that adhere to Islamic ideas, additional reinforcing Pakistan’s dedication to Islamic finance. 

The Shariah Governance Framework 2023 represents a milestone within the evolution of Islamic finance regulation in Pakistan, setting the stage for a extra clear, compliant, and investor-friendly monetary ecosystem.

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Govt types cupboard committee on SOEs to enhance the efficiency of loss making corporations



ISLAMABAD: Caretaker Federal Finance Minister Dr. Shamshad Akhtar has mentioned that the federal authorities has fashioned a cupboard committee on State Owned Enterprises (SOEs) to enhance the efficiency of loss making authorities  owned corporations.

In a media briefing on Thursday, the caretaker Finance minister mentioned that the federal government has designed a coverage construction with respect to the loss-making State owned Enterprises (SOEs).

The caretaker FM mentioned that the loss making SOEs are being restructured explaining she mentioned that underneath the proposed coverage, Chief Government Officers and board members shall be appointed independently apart from the members may also be given safety of tenure and the appointment of the CEO may also be reviewed.

As well as, ad-hoc interventions can be prohibited, stopping ministries from issuing directives to SOEs.

She added that any exemptions from PPRA Guidelines can be granted upon due approval of the federal cupboard, and all organizations shall keep digital monetary knowledge.

She mentioned that corporations have an vital and historic function within the nation’s improvement as SOEs present providers in these areas the place the non-public sector is reluctant to take action.

Presently, there are 18 monetary SOEs together with 4 Industrial and State Growth and Administration, 12 infrastructure, transport and ITC, 14 manufacturing, mining and engineering, 8 in oil and gasoline, 20 within the Energy Sector and 4 within the Buying and selling and Advertising Sector.

Within the fiscal yr 2019, the overall tax income of all SOEs have been about Rs 4000 billion whereas the guide worth of their belongings recorded Rs 19 thousand billion whereas these SOEs are offering employment to 0.450 million workers.

She mentioned that the lack of government-owned SOEs have exceeded Rs 500 billion within the yr 2020 which was Rs 143 billion within the yr 2019 including that she mentioned that the Ministry of Finance has additionally been offering help to be able to maintain many SOEs in good situation.

She disclosed that the highest ten loss making SOEs in 2019 together with Quetta Electrical provide firm Rs108.5 billion, Nationwide Freeway Authority Rs94.3 billion, Pakistan Railway Rs0.2 billion, Sukkar Electrical energy firm Rs40.8 billion, Pakistan Worldwide Airways 36.07 billion, SSGCL Rs21.4 billion, Pakistan Metal Mills Rs20.6 billion, HESCO Rs17.7 billion, Pakistan State oil firm 14.8 billion and Peshawar Electrical provide firm Rs14.6 billion.

Then again, the highest ten revenue making SOEs together with Oil and Gasoline Growth Firm restricted Rs100 billion, Pakistan Petroleum restricted Rs49.4 billion, Nationwide Financial institution of Pakistan Rs30 billion, Authorities Holdings non-public restricted Rs28.8 billion, Nationwide Energy Parks managment Rs28 billion, Port Qasim Authority Rs15 billion, Nationwide Transmission and despatch firm 9 billion, Pakistan Kuwiat firm Rs6.3 billion Faisalabad Electrical provide Rs6 billion and Pakistan Agriculture storage Rs.02 billion.

She dubbed lack of benefit in appointments are the primary cause for the lack of authorities corporations and the finance ministry has been bailing out these corporations from the monetary disaster.

She mentioned {that a} sequence of measures are being taken to revive the financial system and we are going to proceed the great initiatives taken prior to now with regard to SOEs.

To a query, she replied that the possession of strategic establishments will stay with the federal government, however different establishments can be steadily privatised in a clear method.

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