Lahore, In an unexpected move, Caretaker Provincial Health Minister Professor Dr. Javed Akram paid a surprise visit to Children’s Hospital Lahore. During his visit, he met with patients and inspected the ongoing construction and revamping work at the facility. Patients at the hospital expressed their satisfaction with the medical facilities available. The visit was marked by the presence of notable healthcare professionals and officials, including Vice Chancellor University of Child Health Sciences Professor Dr. Masood Sadiq and MD Professor Dr. Tipu Sultan.
According to Directorate General Public Relation – Govt of Punjab, Prof. Dr. Javed Akram stated that under the directives of Punjab Chief Minister Syed Mohsin Naqvi, the ongoing construction project at Children’s Hospital Lahore is under close scrutiny. He emphasized that any slackness in the project would not be tolerated. A firm deadline of January 15 has been set for the completion of the revamping work at the hospital, after which the project will be opened to the public. Dr. Akram also highlighted the broader scope of this initiative, mentioning that revamping work is successfully underway in more than a hundred government hospitals across Punjab. These projects are being monitored daily to ensure timely completion.
The visit underlines the government’s commitment to enhancing healthcare facilities. The Minister directed the Vice-Chancellor, Exion, and all contractors to ensure the construction work at Children’s Hospital Lahore is completed on time and at any cost. He reiterated that providing better treatment facilities in government hospitals remains a top priority.
New York, The International Monetary Fund (IMF) has highlighted the critical need for faster, cheaper, and more transparent cross-border payment services. In a recent paper, the IMF emphasizes the importance of these services in supporting economic growth, international trade, global development, and financial inclusion. This focus aligns with the priorities set by the Group of Twenty (G20) nations.
According to International Monetary Fund, financial links between countries, especially between emerging market and developing economies, encounter numerous challenges. These include high costs and inconsistent charges for cross-border payments. The IMF, in its collaboration with the G20 on payment systems, has published a new paper addressing these issues.
As of the first quarter of 2023, the global average cost of sending $200 internationally stands at approximately $12.50, or 6.25 percent, based on data from the World Bank’s Remittance Prices Worldwide database. The G20, reaffirming the United Nations Sustainable Development Goal, aims to reduce the global average cost for sending a $200 remittance to no more than 3 percent by 2030, with no individual corridor exceeding 5 percent.
However, current costs in some cases far exceed this target. The IMF points out that fees for remittances from Turkiye to Bulgaria can surpass 50 percent. Sub-Saharan Africa faces particularly high costs; for instance, remittances from Tanzania to Uganda and Kenya incur fees over 30 percent. In South Africa, sending money across borders to Botswana, Eswatini, and Lesotho is notably expensive.
The IMF’s report underlines the importance of addressing these disparities and reducing costs to meet the G20’s targets. Such improvements in cross-border payment systems are crucial for enhancing financial inclusion and supporting economic development in various regions worldwide.