28 November 2022 Islamabad(PR) The Ambassador of Indonesia Mr. Adam M. Tugio emphasized the need to accelerate collaborative efforts among the OIC countries for the development of Traditional Herbal Medicine (THM) in the wake of growing popularity of natural remedy methods and global awareness to protect environment for ensuring ‘Greener Future’. Addressing an “International Seminar on Herbal and Traditional Medicine: A Sustainable Alternate for the Greener Future” organized by the Embassy of Indonesia Islamabad and COMSTECH Islamabad, the Ambassador said that THM offer tremendous economic opportunities and innovation for the OIC countries since more than 80% people in developing countries and around 10 to 50% people living in t...
November 28, 2022 at 4:40 pm | Economic Affairs
Former prime minister says he will meet with his chief ministers and parliamentary party to announce the timing of the exit By Ghulam Haider Pakistan’s former prime minister Imran Khan said Saturday that his party would be quitting the regional legislature assemblies in the latest twist of political turmoil and economic instability in the country. Khan, chairman of Pakistan Tehrik-e-Insaf (PTI), made this political ploy public while addressing a gathering of his cheering supporters near Rawalpindi Garrison in his first appearance after being wounded in an assassination attempt at a public rally earlier this month in Punjab -- the most populous province ruled by a PTI-led coalition. Since his ouster in the wake of a parliament...
November 27, 2022 at 6:01 pm | Economic Affairs
Japan’s Bank Nomar has placed Pakistan in the list of the seven countries of the world including Romania, Egypt, Sri Lanka, Turkey, Czech Republic and Hungary, which are currently suffering from a dangerous currency crisis By Ghulam Haider Bankruptcy speculations have been fueled by the widening of the credit-debit swap (CDS) of Pakistan in the international market as the country has to pay one billion dollars worth of Eurobonds on the 5th of December next month, issued five years ago, to become eligible for borrowing from international market. Financial research houses and experts have termed the increase in CDS as dangerous, and expressed concerns about Pakistan's chances of default, but, Federal Finance Minister Ishaq Dar, in...
November 26, 2022 at 6:35 pm | Economic Affairs
Japan’s Bank Nomar has placed Pakistan in the list of the seven countries of the world including Romania, Egypt, Sri Lanka, Turkey, Czech Republic and Hungary, which are currently suffering from a dangerous currency crisis By Ghulam Haider Bankruptcy speculations have been fueled by the widening of the credit-debit swap (CDS) of Pakistan in the international market as the country has to pay one billion dollars worth of Eurobonds on the 5th of December next month, issued five years ago, to become eligible for borrowing from international market. Financial research houses and experts have termed the increase in CDS as dangerous, and expressed concerns about Pakistan's chances of default, but, Federal Finance Minister Ishaq Dar, in...
November 26, 2022 at 6:28 pm | Economic Affairs
Currently, dollar rate in Peshawar market is up to Rs. 240 while in Karachi it is up to Rs. 237. A difference of up to Rs 15 to a dollar makes the gray market more attractive to remitters. By Ghulam Haider Remittances by overseas Pakistanis have recorded a continuous decline in the current financial year and in the month of October this year, remittances were about 16 per cent less than in the same month last year. According to the data released by the Central Bank of Pakistan, October 2022 also saw a decrease of nine per cent compared to September 2022 and if the four months of the current financial year are compared with the same months of the previous financial year, a decrease of more than eight and a half per cent was observe...
November 26, 2022 at 6:23 pm | Economic Affairs
Economists say that when a country is unable to pay the installments of its external debt and the interest on it, then this country is declared bankrupt By Ghulam Haider According to media reports, the former chairman of the Federal Board of Revenue (FBR), the federal agency that collects taxes in Pakistan, Shabbar Zaidi, declared the country bankrupt based on the economic conditions of Pakistan. However, later he explained in his message on Twitter that the media has taken his statement out of context. Thus, Shabar Zaidi has explained his statement, but there is still a lot of discussion on this issue. Economists believe that although Pakistan's economic indicators are suffering from a bad situation, there is currently no possibi...
November 26, 2022 at 6:18 pm | Economic Affairs
Information Minister @Marriyum_A , Secretary Information Shahera Shahid, DG EP Ambreen Jan, PIO Mubashir Hasan and Eng Zamir Awan at the launching of special edition of "Economic Affairs", Magazine, published in collaboration with PID.
November 23, 2022 at 6:17 pm | Economic Affairs
Pakistan is among the few countries in the world where there is a comprehensive population policy and program roadmap at the federal and provincial levels. By Ghulam Haider According to the new statistics released by the United Nations, the world's population has crossed the eight billion mark, and out of this eight billion, almost three percent of the population consists of Pakistan. Pakistan is among the eight countries in the world that will contribute fifty percent to the total population growth in the world by 2050. Apart from Pakistan, these countries include Congo, Egypt, Ethiopia, India, Nigeria, Philippines and Tanzania. Currently, Pakistan is the fifth largest country in the world in terms of population. China, Ind...
November 22, 2022 at 11:08 pm | Economic Affairs
November 21, 2022Islamabad (PR) Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar has taken serious notice of the illegal and unwarranted leakage of tax information of the family members of General Qamar Javed Bajwa, Chief of Army Staff (COAS). This is clearly violative of the complete confidentiality of tax information that the Law provides. In view of this serious lapse on the part of to-date unknown functionaries the Finance minister has directed the SAPM on Revenue Mr. Tariq Mehmood Pasha to personally lead an immediate investigation into the violation of tax law and breach of FBR data, affix responsibility and submit a report within twenty four hours.
November 21, 2022 at 10:47 pm | Economic Affairs
Delay in release of soybean from port threatens industry Businessmen have expressed fear that 30,000 poultry farms will be closed, more than 300 feed mills will be affected and investment of about Rs1,200 billion will be stopped in the poultry sector because of delay in clearance of soybean. “With the unavailability of soybean meal, a main ingredient in poultry feed, there are chances of scarcity of chicken meat that may threaten the country’s food security,” cautioned Rawalpindi Chamber of Commerce and Industry (RCCI) President Saqib Rafiq. In a statement, Rafiq highlighted that 130,000 tons of soybean worth Rs22 billion was lying in the open sky at port and its clearance had been delayed. The poultry industry meet...
November 21, 2022 at 11:34 am | Economic Affairs
Pakistan Rupee Exchange Rate