Business & Economy

18 November 2022Faisalabad: (PR) Indonesia and Pakistan must accelerate bilateral cooperation and research efforts to gain benefits from the flourishing Halal cosmetics market, which is rapidly increasing its share every year and creating number of investment opportunities with healthy future growth prospects. This was said by the Ambassador of Indonesia to Pakistan Mr. Adam M. Tugio while addressing the International Conference on Islamic Economy and Halal Cosmetics organized by the University of Faisalabad (TUF). Ambassador Adam pointed out that the popularity of Halal products is not confined to Muslim countries alone but also attracting a wide range of non-Muslim consumers with its high quality standard and certification methods sup...

November 19, 2022 at 1:52 pm | Economic Affairs

The challenges posed by the climate crisis are enormous. In these extreme challenges, I found hope in Sweden while participating at Stockholm+50 conference this year. In Stockholm, I saw a transparent sky connecting with land in the highest esthetic and romantic way. From drinkable tap water to clean air, Stockholm has attracted millions of young tourists every year. Clean tap drinking water and a healthy natural environment are core indicators of modern day climate diplomacy. This is a hope where we can start our collective struggle to meet the challenges of climate change. Today, Climate Change defines global challenges, and the global south is at a defining moment. From shifting weather patterns and rising sea levels to threatened fo...

November 19, 2022 at 1:49 pm | Economic Affairs

November 18,2022Islamabad ( PR)The Embassy of the Republic of Korea in Islamabad organized an interactive seminar at Marriott Hotel on the theme of Energy Infrastructure Enhancement in Pakistan through the Economic Development Cooperation Fund (EDCF). The seminar was attended by senior level representatives from Ministry of Foreign Affairs, Economic Affairs Division, EXIM Bank of Korea, Korean Companies, Pakistani Business Community Members, and the UN.The seminar’s propose was to discuss ways to promote renewable energy especially solar power in Pakistan in a collaborative and synergetic manner where Korean companies showcased their experiences of undertaking renewable energy projects in Korea, Pakistan, and around the world, and to hig...

November 18, 2022 at 3:00 pm | Economic Affairs

November 11, 2022Islamabad ( PR) Federal Minister for Finance and Revenue Senator Muhammad Ishaq Dar held meeting with Mr. Mohammed Al-Suwaidi, CEO and Managing Director of Abudhabi Holding Company and Mr. Syed Basar, CEO and Managing Director of International Holding Company today in Abu Dhabi. Both sides discussed investment opportunities available in Pakistan . ADQ and IHC expressed specific interest in investing in energy, agriculture, healthcare and other sectors.

November 11, 2022 at 10:53 am | Economic Affairs

November 10,2022Abu Dhabi ( PR)A delegation of Etisalat called on Federal Finance Minister Senator Mohammad Ishaq Dar today at t in the Embassy of Pakistan, Abu Dhabi. The delegation apprised the Finance Minister about the ongoing Etisalat operations in Pakistan and their future business plans.

November 10, 2022 at 6:21 pm | Economic Affairs

November 10,2022Islamabad(PR) China & Pakistan should jointly explore more avenues in social cultural & economic sectors for mutual benefits. This was stated by Amb. Lin Songtain President Chinese People's Association for Friendship with Foreign Countries (CPAFFC) China, while talking with Deputy Chairman Senate of Pakistan Senator Mirza Muhammad Afridi at later"s residence alongwith 6 members high profile delegation. Chinese charge d Affairs Madam Pang Chunxue, Pakistan China Friendship Association (PCFA) Executive Committee Member Syed Zafar Ali Shah, Secretary-General Syed Ali Nawaz Gilani were also present on the occasion. The visiting Chinese dignitaries Amb. Lin Songta in appreciate the efforts of PCFA Khyber Pakht...

November 10, 2022 at 6:19 pm | Economic Affairs

November 10,2022Isamabad (PR) World Bank terms performance of FBRunder Pakistan Raises Revenue Program as SatisfactoryA meeting was held between Chairman FBR, Mr. Asim Ahmad and Country Director World Bank, Mr. Najy Benhassine, Pakistan, to review the progress of Pakistan Raises Revenue Program on 10th November 2022 at FBR HQ. FBR is implementing Pakistan Raises Revenue Program (PRRP) with financial assistance from the World Bank. The program is expected to contribute to a sustainable increase in domestic revenue by broadening the tax base and facilitating compliance. The World Bank has recently concluded the Mid-Term Review of the program in October to November 2022. Based on initial findings the World Bank has expressed overall sa...

November 10, 2022 at 6:16 pm | Economic Affairs

November 7, 2023Islamabad (PR)Lord Wajid Khan, Member House of Lords UK along with a delegation of prominent businessmen from UK called on Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar at Finance Division, today. The business delegation comprised Mr. Zuber Issa, CBE, head of EG Group & ASDA, Mr. Mohammad Asim, Mr. Mohammad Tayyab and Mr. Shakoor Ahmed, Directors of EG Group. SAPM on Finance Mr. Tariq Bajwa, SAPM on Revenue Mr. Tariq Mehmood Pasha, Secretary Finance and other senior officers of Finance Division also attended the meeting. Finance Minister Senator Mohammad Ishaq Dar welcomed the delegation and apprised of them the current overall macroeconomic outlook of the country.The Finance Minister...

November 7, 2022 at 9:55 am | Economic Affairs

October 31, 2022Islamabad: A renowned businessman Saif Ullah Paracha has been returned to Pakistan after his acquittal from years long investigation at infamous US prison Guantanamo Bay.Due to the hectic efforts of the Pakistan's embassy Washington and the Ministry of Foreign Affairs (MOFA), Mr Paracha reached Pakistan safely on Saturday, 29 October, 2022 after facing a prolonged investigation conducted by the US authorities during his detention at the infamous prison of America. Although he was found not guilty during the investigation, however, the Foreign Ministry completed an extensive inter-agency process to facilitate the repatriation of Mr. Paracha. MOFA announced that "We are glad that a Pakistani citizen detained abroad...

October 31, 2022 at 6:29 pm | Economic Affairs

EA Report LAHORE, Sept. 04–22 Pakistan's rupee maintained its strength against the US dollar by staying up near 0.9 percent in inter-bank market during opening trading hours on Tuesday.Pak rupee was being quoted at 225.30 with an appreciation of Rs1.99 or 0.88 percent against the greenback, during intra-day trading right at around 10:35amPakistan's rupee, last day, had maintained its upward trajectory against US dollar for the seventh straight session, closing at 227.29 appreciating to Rs1.16 or 0.51% in the inter-bank market.Analysts attribute rupee's recent gain to the return of Ishaq Dar, widely seen as an advocate of a strong rupee.The newly-appointed finance minister on Monday clearly said that the country’s currency could s...

October 4, 2022 at 3:48 pm | Economic Affairs

February 10,2022:Islamabad(Press Release) Federal Minister for Industries and Production Makhdum Khusro Bakhtyar presided the high-level meeting on new Fertiliser Policy today. The meeting was attended by Minister for Energy Mr. Hammad Azhar and Minister for Food Security and Research Syed Fakhar Imam. The senior officials of these Ministers were also present.The meeting deliberated on framework of Fertiliser Policy in detail. It was briefed that upcoming policy would be structured on three broad areas ie demand, supply and pricing of soil nutrients. It was discussed that the issue of rationalization of gas sale agreements and supply-chain maintenance through local production or imports in conjunction with demand projections would be addre...

February 10, 2022 at 3:01 pm | Economic Affairs

Every year a big number of foreigners come to China and many of them excel in their field. some of them play a pivotal role in the society while a few of them establish the basis of international development & are recognized across borders. Dr. Muhammad Shahbaz, President of China Pakistan Medical Association is a proud Pakistani Surgeon & Medical Expert whose initiative of Silk Road Health Corridor also known as China Pakistan Health Corridor has been recognized well among the international medical community especially by Chinese Government and was conferred the Ambassador of Silk Road Friendship Award and now his initiative has been appreciated by the National Development & Reforms Commission People’s Republic of china. ...

February 10, 2022 at 12:45 am | Economic Affairs

By Prof. Engr. Zamir Ahmed Awan The island has had a long history of engagement with modern international groups: it is a founding member of the SAARC and a member of the United Nations, the Commonwealth of Nations, the G77, and the Non-Aligned Movement. Sri Lanka got independence from the British on February 4, 1948 and this day is celebrated with true spirit and joys every year. Pakistan is a close friend of Sri Lanka, also shares the celebrations and enjoys them equally. Sri Lanka is an island country in South Asia. It lies in the Indian Ocean, southwest of the Bay of Bengal, and southeast of the Arabian Sea; it is separated from the Indian subcontinent by the Gulf of Mannar and the Palk Strait. Sri Lanka shares a maritime bord...

February 4, 2022 at 11:09 am | Economic Affairs

January 26, 2022Islamabad(Press Release) Mr. Abdul Razzak Dawood, Adviser to the Prime Minister on Trade and Investment welcomed the Minister of Trade of Sri Lanka, Dr. Bandula Gunawardhana and State Minister for Regional Cooperation, Mr. Tharaka Balasuriya at the Ministry of Commerce. Dr. Gunawardhana and Mr. Balasuriya along with top Sri Lankan Business delegation are currently visiting Pakistan from 20th January to 27th January, 2022. The meeting was also attended by Secretary, Commerce and high ranking officials from both sides. The Adviser while recalling the successful Trade and Investment Conference held earlier last year in Colombo, expressed his satisfaction over the continued engagement of business communities of both frie...

January 26, 2022 at 9:45 pm | Economic Affairs

January 20,2022Islamabad ( Press Release)H.E. William Wouter Plomp, Ambassador of the Kingdom of Netherlands to Pakistan accompanied by representatives from the embassy of Netherlands called on Minister of State & Chairman BOI, Mr. Muhammad Azfar Ahsan and Secretary BOI Ms. Fareena Mazhar in Islamabad.BOI leadership sensitized Mr. Plomp about Pakistan’s liberal investment regime and the incumbent government’s commitment towards investment promotion. H.E was apprised on BOI’s role as the apex investment promotion agency and was also briefed about the Special Economic Zones along with the generous set of incentives available there. The Ambassador shared that a Dutch delegation from Dairy & Cheese sector will be visiting Pakista...

January 20, 2022 at 9:20 pm | Economic Affairs

By Ambassador® Syed Hasan Javed CPEC is human and citizen centric initiative to uplift the welfare of Pakistanis devoid of market connectivity, creating around seventy thousand plus job opportunities. It would provide a sustainable livelihood to almost half of Pakistan’s youth entering the job market in the next ten years. Generally, China Pakistan Economic Corridor CPEC worth US$ 62 billion, one of the six corridors of the Belt and Road Initiative and its flagship project and the only bilateral undertaking, is considered as comprising only connectivity, infrastructure and energy projects.  Though this is partly true, the CPEC’s actual role, content and context are still evolving and rightly so, equally underestimated by Pa...

January 20, 2022 at 12:09 pm | Economic Affairs