ISLAMABAD: To save payment of million of dollars to donors in the form commitment charges every year, the government has notified the establishment of Foreign Assistance Monitoring Cell and assigned it eight responsibilities to ensure effective utilisation of foreign loans, officials said yesterday. Foreign loans have often led to a heavy price for the exchequer as Islamabad paid millions of dollars in commitment charges for not utilising loans after agreements with donor agencies. “There is no formula for calculating the exact charges, as the Finance Ministry and the State Bank of Pakistan have different opinions,” officials said, adding it was yet to be seen how loans could be effectively utilised when stakeholders could not agree on any method.
Credibility index for media
ISLAMABAD: The Department of Media and Communication Studies at International Islamic University, Islamabad, will collaborate with Mishal Pakistan to develop a media credibility index to create a new framework and methodologies to measure trends, indices on ethics, journalism standards and rankings. “There is a need for the media sector to come up with an innovative methodology which can complement current trends and establish authenticity of the content on the basis of credibility, reliability and professionalism of people supplying news,” said the department Chairman Dr Zafar Iqbal yesterday. Mishal has designed an index after studying media laws, ethics, rules and regulations drafted by different media groups, regulatory bodies and journalistic organisations.
Lahore hit by earthquake
Islamabad: An earthquake measuring 6.4 on the Richter scale hit Lahore, capital of Punjab province, yesterday. Sources said that the epicentre was in the Indian part of Kashmir and there were no reports of damage or casualties. Agencies
