ICCI calls for forging strong business linkages to improveties Turkey and Pakistan enjoy heart-to-heart relations and Ankara is keen to boost bilateral trade to at least up to $5 billion in the next two to three years. The current volume of trade is not reflective of the actual potential of both countries. This was stated by Turkish Ambassador Mehmet Pacaci while addressing the business community during his visit to Islamabad Chamber of Commerce and Industry (ICCI). The envoy said that he was assigned by his government to increase Turkey-Pakistan trade to $5 billion in three years as a first step and added that both countries had the potential to go beyond that target. “Turkey wants to enhance cooperation in trade, industry, inv...
November 21, 2022 at 11:31 am | Economic Affairs
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
Country’s annual GDP may fall by 18-20% during the same period due to climate change risks By Ghulam Haider The World Bank has forecast that Pakistan’s agricultural yields are projected to drop 50 per cent by 2050 due to the degradation of land, overuse of chemical inputs and water and lack of research in the top most important sector and contributor to the national Gross Domestic Product (GDP) of the country. The World Bank Group’s recently released “Country Climate and Development Report (CCDR) for Pakistan” has further forecast that erratic climate changes coupled with the mayhem instrumented by environmental degradation is set to result in a whopping fall of 18-20 per cent in the GDP by 2050 if the lingering issues p...
November 18, 2022 at 4:53 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
Over the past few decades, the world has witnessed a significant increase in the numbers and magnitude of natural disasters, exacting a heavy socio-economic toll on humanity. From high-rise tides in the oceans to cyclonic storms, from record high temperatures to droughts in some parts of the world, and from heavy torrential rains to flash floods, drastic changes in climate patterns all have been witnessed, and the world is currently bearing the repercussions of the current wave of climatic change in the form of various catastrophic tragedies. The first half of the year 2022 fared no better and will ostensibly be remembered for the deadly hydro-meteorological disaster in Pakistan, causing sobering and stark devastation to one-third of th...
November 17, 2022 at 10:55 pm | Economic Affairs
The film is slated to be released cinemas and theatres across the country on November 18 with minor cuts.By Ghulam HaiderAfter stirring controversy, the Pakistani authorities have finally decided in principles to lift the ban on the screening of the Oscar 2023-entry ‘Joyland’ after some scenes cut in the movie, which is slated for release nationwide this Friday (November 18).Salman Sufi, head of the Prime Minister’s Strategic Reforms, said Wednesday that the censors would be lifting a ban on “Joyland," with some scenes being cut before it is released in country’s cinemas and theatres.The decision by the authorities comes days after the ban was put in place by the Ministry of Information and Broadcasting, which said it contains ...
November 17, 2022 at 8:57 pm | Economic Affairs
Beyond its prospects as a bloc in the burgeoning field of climate diplomacy, the potential benefits of cooperation on climate are essentially limitless for the region. The low-hanging fruit is sharing information and data. By Ghulam Haider That India and Pakistan are engaged in backchannel track II diplomacy is the worst kept secret in South Asia. It does not take a vivid imagination to guess what dominates the agenda at these talks: Kashmir, terrorism, trade, perhaps crisis behavior under the shadow of nuclear weapons. Welcome as such conversations are, they are almost assuredly lacking focus on the biggest crisis facing the region’s inhabitants: climate change. South Asia’s Climate Change Vulnerability This year has serve...
November 16, 2022 at 10:17 am | Economic Affairs
International partners and possible donors will be looking for indications that Pakistan is ready to commit to forward-thinking strategy for tackling its climate change challenges in the years ahead By Ghulam Haider The international community has gathered in Egypt for the UN Climate Change Conference (COP27) to discuss a range of issues including loss and damage, climate finance, adaptation and mitigation. This year’s COP27 is being held in the aftermath of Pakistan’s disastrous summer floods, which led to the announcement that Pakistan’s Prime Minster Shahbaz Sharif will serve as vice-chair of the summit. This — combined with Pakistan’s presidency of the G77 this year — have afforded Pakistan a significant place ...
November 15, 2022 at 11:29 pm | Economic Affairs
November 7, 2022 Islamabad (EA Report) Given the immense potential in the sector to expand and uplift national economy, Pakistan needs immediate updating of her maritime policy and vision to cope with challenges as the blue economy can help the country come out of the economic struggles. This was the consensus of experts while addressing the Webinar titled “New Technology for Greener Shipping” organized by National Institute of Maritime Affairs (NIMA) in Islamabad, following the launching ceremony of the special edition of “Economic Affairs” magazine on World Maritime Theme Day 2022. Vice Admiral (R) Abdul Aleem said Pakistan had unparallel resources in marine life, but unfortunately the country was lagging behind devel...
November 15, 2022 at 10:59 pm | Economic Affairs
Decision comes after Islamabad’s early completion of FATF action plans, says Foreign Minister Bilawal Bhutto By Ghulam Haider November 15, 2022 Islamabad: Foreign Minister Bilawal Bhutto Zardari on Monday said that the United Kingdom has officially removed Pakistan from its list of "High-Risk Third Countries". Sharing a picture of the official document on his Twitter handle, Bilawal said that the decision comes after Pakistan's early completion of the Financial Action Task Force’s (FATF) action plan. “His Majesty’s Treasury issued an amendment to the UK’s 'High-Risk Third Countries’ list on 14 November 2022, through a Statuary Instrument. The amendment removes Pakistan from the list in accordance with the decisio...
November 15, 2022 at 10:55 pm | Economic Affairs
Islamabad plans to boost bilateral trade up to $15 billion in next 3 years and $40 billion in 10 years, says new Ambassador Tirmizi By Muzaffar Rizvi November 14, 2022 Islamabad (EA Report) Pakistan has initiated the negotiations to sign Comprehensive Economic Partnership Agreement (CEPA) with the UAE to build deeper, more meaningful trade and investment ties with one of the most important economies in the region, a top diplomat says. The newly-appointed Ambassador to the UAE Faisal Niaz Tirmizi said in an exclusive interview published in Daily Khaleej Times. He said it is one of his priorities to accelerate this process to conclude CEPA with the UAE on fast track basis. "We are keen to further strengthen our bilatera...
November 14, 2022 at 4:58 pm | Economic Affairs
November 12,2022Abu Dhabi( PR) Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar held meetings in Dubai with management of the leading commercial banks, including Dubai Islamic Bank, Ajman Bank, Emirates NBD who deal commercially with Pakistan and its Ministry of Finance. Pakistan's ambassador to UAE H.E. Faisal Niaz Trimzi was also present in the meetings for the assistance. The Commercial Banks reposed their confidence in current economic policies of the Government and assured their continued support for Pakistan.
November 12, 2022 at 9:32 pm | Economic Affairs
November 11,2022Islamabad ( PR)A Pakistani career diplomat, Saima Sayed is currently serving as Director General Strategic Communications. She has previously served as Counselor at the Permanent Mission of Pakistan to the United Nations, New York (2015-2018), First Secretary at the High Commission of Pakistan, New Delhi(2012-2015) and as Second Secretary at the Embassy of Pakistan, Paris (2007-2010).At the Ministry of Foreign Affairs she has served as Director (Arms Control & Disarmament& Science Diplomacy), Deputy Chief of Protocol and Deputy Director Europe.Ms. Sayed holds Masters degree in Public Administration from Quaid–i-Azam University, Islamabad,
November 12, 2022 at 9:31 pm | Economic Affairs
November 11, 2022Islamabad (PR) A Pakistani career diplomat Ambassador Mumtaz Zahra Baloch is currently serving as Additional Secretary Asia & Pacific has als been posted as Spokesperson today. She has been previously served as Ambassador of Pakistan to the Republic of Korea (2020-2021), Minister/Deputy Head of Mission at the Embassy of Pakistan in Beijing (2015-2020), Counselor for Political Affairs at the Embassy of Pakistan, Washington DC (2006-2011) and as Second Secretary at the Permanent Mission of Pakistan to the United Nations, Geneva (1999- 2002).At the Ministry of Foreign Affairs she has served as Director (America), Director (Security Council and Human Rights) and Director (Strategic Planning) in the Office of the Foreign Se...
November 12, 2022 at 9:25 pm | Economic Affairs
11 November, 2022Islamabad ( PR) Air Chief Marshal Zaheer Ahmed Baber Sidhu, Chief of the Air Staff, Pakistan Air Force was in attendance at the opening ceremony of Bahrain Air Show in which "Pride of Pakistan" JF-17 Thunder aircraft also took part. A large number of delegations from different countries were also present at the occasion. The indigenously manufactured JF-17 fighter jet displayed alongside other aircraft and defence equipment at the event, remained the star attraction of the show. While interacting with the Pakistan Air Force contingent, the Air Chief lauded PAF personnel's performance in the airshow and said that their participation in the event was a matter of pride for the nation and appreciated their efforts f...
November 11, 2022 at 12:42 pm | Economic Affairs
Pakistan Rupee Exchange Rate