World leaders should avoid hollow negotiations: Xi Jinping
Chinese president was speaking at the opening ceremony of two day G20 summit that began in Chinese city of Hangzhou yesterday.The theme of the summit is 'Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy'.Today China's President Xi Jinping has said the global economy is at a critical juncture with the threat of rising protectionism. Xi Jinping said some of the bigger risks to the global economy are sluggish demand, financial market volatility and feeble trade and investment. Chinese President Xi Jinping said that world leaders should avoid hollow negotiations.He said that meaningful negotiation is essential for economic development. It is worth mentioning that China is hosting the G-20 summit.
What is G-20 ?
The Group of Twenty (G20) is the premier forum for its members' international economic cooperation and decision-making. It comprises 19 countries plus the European Union. G20 leaders meet annually; additionally, during the year, Finance Ministers and Central Bank Governors meet regularly to discuss ways to strengthen the global economy, reform international financial institutions, improve financial regulation, and discuss the key economic reforms that are needed in each of the member countries. Underpinning these meetings is a year-long program of meetings between senior officials and of working groups coordinating policy on specific issues. The G20 started in 1999 as a meeting of Finance Ministers and Central Bank Governors in the aftermath of the Asian financial crisis. In 2008, the first G20 Leaders' Summit was held, and the group played a key role in responding to the global financial crisis. Its decisive and coordinated actions boosted consumer and business confidence and supported the first stages of economic recovery. G20 leaders have met eight times since 2008.The G20 Summit continues to focus on measures to support global economic growth, with a strong emphasis on promoting job creation and open trade. Each G20 President invites a number of guest countries each year.
HEC budget increased by over 100 percent to promote quality education
Government plans to set up universities or campuses in all districts of the country. Minister of State for Education and Interior, Baligh Ur Rehman says the annual budget of the Higher Education Commission has been increased from forty one billion rupees to ninety one billion rupees to promote quality education. He said that the government plans to set up universities or campuses in all districts of the country. He said the federal government has approved an eight hundred and sixty million rupees grant for the Islamia University, Bahawalpur while one hundred and twenty five acres land has been acquired to set up Sadiq Women University in Bahawalpur. Fiscal year 2016-17, 122 new projects would be initiated under the funds allocated to HEC. During the fiscal year 2016-17, 39 new schemes would be launched by HEC for which purpose an amount of Rs21488.481 million would be spent out of the total allocation of funds in the budget. For education affairs and services, an amount of Rs84, 198 million has been allocated for the year 2016-17. Out of the total amount of Rs84,195 allocated to Education Affairs and Services, an amount of Rs8,197 million has been earmarked for Pre-Primary Education Affairs Services, Rs1009 million to Secondary Education, Rs63.593 million to Tertiary Education.
Host: Ghulam Murtaza
Co-host: Dr Khurram Iqbal