Three perish in Quetta bomb blast

At least seven people injured in the explosion

QUETTA:

A bomb blast ripped through a market in the Hazarganji area of Quetta on Sunday, claiming the lives of three people and injuring seven others, the same day when the opposition parties staged their rally in the provincial capital amid a terror threat issued by the authorities.

However, the site of the blast was around 35 to 40 minutes’ drive away from Ayub Stadium where the opposition alliance, the Pakistan Democratic Movement (PDM), held its power show.

Police said the explosion was caused by an improvised explosive device (IED) attached to a motorcycle. The people injured in the attack were shifted to a nearby hospital. A large contingent of security personnel cordoned off the area. No group has claimed responsibility for the attack so far.

The National Counter Terrorism Authority (Nacta) had warned that the Tehreek-e-Taliban Pakistan (TTP), in connivance with HIAs, planned to carry out large-scale terrorist activities in Quetta, targeting political and religious leadership.

The Balochistan government later appealed to the PDM leadership to put off their rally in the wake of the security threat.

However, the opposition leaders decided to proceed with their power show.

Considering NACTA's security alert, Section-144 of the Code of Criminal Procedure (CrPC) was imposed in the provincial capital, cell phone services were suspended and pillion riding also banned.

More than 4,000 security personnel, including officials from the provincial police force, Frontier Corps and Balochistan Constabulary were deployed for the rally’s security.

A control room was set up at the deputy commissioner's office to monitor the security arrangements.

3:14

Pakistan economy is stabilizing, claims minister

Says record 10 new initial public offerings are planned by companies for listing on PSX

ISLAMABAD/HYDERABAD. Minister for Planning Asad Umar has claimed that the country's economy has stabilized and is now moving into “the growth phase”.

"Strong earnings being reported by companies listed on the Pakistan Stock Exchange (PSX) reflect that stabilization having been achieved, and the economy is moving into the growth phase," Umar said in a post on micro-blogging site Twitter.

The minister pointed out that a record 10 new initial public offerings (IPOs) were also being planned by companies for listing on the stock exchange this year.

He said this while retweeting a post by Arif Habib Limited Chief Executive Officer (CEO) Shahid Ali Habib who had said the companies in the PSX had so far witnessed an outstanding performance.

According to Habib, so far 83 companies of the PSX have announced quarterly (July-Sept) results showing an average earnings growth of 51 per cent, year-on-year.

“43 companies' earnings increased by 46 per cent during the first quarter of the current fiscal year compared to the same period of the last year. Outstanding growth pace in this quarter!” he said.

Separately, Umar told a delegation of industrialists that the federal government is fully aware of the issues of Hyderabad – the second largest industrial hub of Sindh – and that it would make all out efforts to boost industrial development in the area.

“The industrial sector is the only sector which could meet economic challenges being faced by the country. Industrial development cannot only increase tax revenue but also helps in overcoming issues like unemployment,” Umar was quoted as saying in a statement issued on Sunday.

On Saturday, the federal minister met a delegation of the Hyderabad SITE Association of Trade Industry (HSATI) led by HSATI Chairman Parvez Faheem Noorwala at a luncheon at the Hyderabad Gymkhana.

Noorwala and other members of the delegation including Senior Vice Chairman Shahid Soomro, Vice Chairman Mahmood Ahmed and former chairmen Aslam Bawani, Saman Mal, Amir Shahab and Shahid Qaim-khani informed the minister about the issues being faced by the industrialists of Hyderabad.

The delegation told the minister that the Infra-structure of the industrial area is on the verge of collapse as decades old sewerage system has crumbled with time.

They said the roads are in a dilapidated condition and the industries are facing non availability of water as water supply to the area was disconnected as a result of non-payment of dues by the association. This, they said, is causing great hardship to run the industrial units.

The minister assured the delegation that the concerns of the industrialists would be addressed on priority. Under the vision of Prime Minister Imran Khan, the minister said, the government would extend full cooperation in the development of the second biggest city of the province.

The minister said the federal government has initiated various measures for development of the industrial sector as it is necessary for bringing progress and prosperity. He assured the delegation that the federal government would also work for the development of Hyderabad.

APP WITH ADDITIONAL INPUT FROM NEWS DESK