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Pakistan claims to support a UN body working to guarantee food security.

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Pakistan has stated that it supports the Food and Agriculture Organisation (FAO) in building a facility with broader and people-centric criteria to further strengthen its efforts to defeat hunger, improve nutrition, and ensure food security in developing countries. The statement was made at the recently concluded UN Economic and Social (ECOSOC) Youth Forum.

Deputy Permanent Representative of Pakistan, Ambassador Usman Jadoon, stated, “We have considerable potential in the agriculture sector and could play an important role in building the global food supply chains.” Over a thousand young activists and leaders from around the world attended the meeting.

At the same time, he expressed Pakistan’s support for the UN Secretary-General’s demand for immediate reform of the global financial system, emphasising the need to address debt relief on behalf of the billions of impoverished people living in developing nations. He said that this reform was essential to achieving the Sustainable Development Goal (SDG 2) of ending world hunger.

Given the growing susceptibility of the world’s food systems to a wide range of problems, Ambassador Jadoon also emphasised the necessity of coordinated worldwide efforts to build robust and sustainable food systems that can survive shocks and disruptions.

He issued a warning that there was a convergence of crises facing the world, including supply chain disruptions, economic contractions, and conflicts. These crises posed serious dangers to the ability of the current food systems to deliver safe, affordable, and nutrient-dense diets for everyone.

According to the envoy from Pakistan, which is the fifth most populated nation in the world and has a sizable youth population, Pakistan understood the vital significance of preserving food systems for coming generations. He said that the country’s economy was based mostly on agriculture, which employed a sizable percentage of the working population and made a major contribution to GDP.

The catastrophic floods in Pakistan in 2022, which damaged 4.4 million acres of standing crops, were cited by Ambassador Usman Jadoon as evidence of the grim realisation that food systems are extremely susceptible and that countries vulnerable to climate change confront urgent concerns.

According to him, Pakistan is facing significant challenges in the agriculture sector due to a series of interconnected crises, which have resulted in a sharp increase in food costs on the global market.

In addition to addressing acute crises, Ambassador Jadoon stated that Pakistan pushed for international aid that gave priority to the long-term resilience and sustainability of food systems in the most vulnerable countries. According to him, ensuring food security required a comprehensive strategy that took into account both immediate problems and long-term opportunities, especially for the young people who are the nation’s future.

He added that Pakistan calls on all stakeholders to work together to create resilient food systems that can survive the challenges of today and tomorrow since the country is dedicated to the welfare of its citizens as well as the global community.

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Business

Pakistan’s gold prices continue to decline.

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The price of ten grams of 24 carat gold dropped by Rs 1,201 to Rs 205,418 from Rs 206,619, while the price of ten grams of 22 carat gold dropped to Rs 188,300 from Rs 189,400, according to the All Sindh Sarafa Jewellers Association.

Silver, priced at Rs. 2,620 per tola and Rs. 2,254.80 per ten grams, stayed at that level. As reported by the organization, the price of gold dropped by $11 on the global market, to $2,297 from $2,308.

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Price of LPG “slashed” by Rs. 20 per kilogram

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Sources claim that LPG rates have been lowered by Rs 20, making the cost per kilogram drop from Rs 280 to Rs 260.

It is noteworthy to remark that the costs of LPG were reduced by Rs 20 per kilogram earlier, resulting in a total reduction of Rs 40 per kilogram within a few weeks.

The price of liquefied petroleum gas for the month of May 2024 was lowered by the Oil and Gas Regulatory Authority (OGRA) on April 30.

The LPG tariffs were lowered by Rs 11.88 to Rs 238.46 per kilogram in accordance with the OGRA’s notice. On Wednesday, May 1, 2024, the new rates will go into effect.

In April of last year, the price per kilogram of LPG was Rs 250.34. pricing reduction of Rs 140.18 has resulted in a new pricing for home LPG cylinders set for May 2024 of Rs 2813.85.

The OGRA reported a drop in liquefied petroleum gas pricing in April. The price of LPG is now Rs 250.34 per kg instead of Rs 256.78 due to a reduction of Rs 6.44 per kg.

The price of the household cylinder was fixed at Rs 2954.03 for the month of April, down from Rs 3030.12, a decrease of Rs 76.9.

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ADB delegation stops by FBR headquarters

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Senior Director ADB Tariq Niazi oversaw the expedition, which also involved Sana Masood, Farzana Noshab, and Senior Public Sector Management Specialist Laisiasa Tora. The meeting included presentations from economists as well, according to an FBR press release.

The officers focused on structural and policy adjustments as they discussed the Domestic Resource Mobilization Program’s implementation at the meeting.

$300 million was given to the Pakistani government by ADB in December 2023 as a result of the hard work and dedication of FBR. Better laws, regulations, and institutional capability for the FBR were established by Sub-Program I.

With the $300 million in funding provided by the Asian Development Bank (ADB) to the Government of Pakistan in December 2023, the delegation conveyed satisfaction with the program’s effective launch.

The FBR also underlined how crucial digitization is to recording the economy and boosting productivity in a sustainable way.

In order to promote the Government of Pakistan’s Digital Tax Administration Project, both parties decided to look into measures to improve their cooperation.

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