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November 25,2021?Ambassador Jauhar Saleem, in his capacity as the President of the International Development Law Organization (IDLO), presided over the Annual Assembly of Parties, is the highest decision making forum of the Organization. Italian Minister of State for Foreign Affairs Marina, Sereni, Director General IDLO, Ambassasors/ Permanent Representatives of member countries, President UNIDROIT. Members Board of Advisors and representatives from FAO, IFAD and WFP attended the meeting.?Comprising 38 Member countries, IDLO is an international inter-governmental Organisation devoted to promoting Rule of Law and justice to further the global goals of Peace and Sustainable Development and is striving for making justice systems more effectiv...

November 25, 2021 at 11:26 am | Economic Affairs

Advisor to the Prime Minister on Finance and Revenue Shaukat Tarin has said that the government will announce a ‘mini-budget' next week, a statement that comes after a staff-level agreement was reached between the International Monetary Fund (IMF) and the Pakistani authorities.The completion of the review, subject to IMF Executive Board approval, would make available SDR 750 million (about $1,059 million).The IMF said that this will bring total disbursements under the Extended Fund Facility (EFF) to about $3,027 million and help unlock significant funding from bilateral and multilateral partners. However, it is subject to completion of actions by the Pakistan authorities.While talking to a private channel, Tarin said that the government ...

November 24, 2021 at 4:28 pm | Economic Affairs

November 24,2021Islamabad(Press Release) As a goodwill gesture towards the brotherly Afghan people, the Government of Pakistan has decided to allow the transportation of 50000 Metric Tonnes of wheat and life saving medicines from India to Afghanistan via Wagah Border on an exceptional basis for humanitarian purposes.The decision of the Government of Pakistan to this effect was formally conveyed to the Charge d’ Affaires of India at the Ministry of Foreign Affairs today.

November 24, 2021 at 4:28 pm | Economic Affairs

November 24,2021Islamabad (Press Release)Pakistani Canadian politician and Liberal Government MP Iqra Khalid has said that Canada relies on a healthy immigration due to its growing labour market and the Pakistani Canadians, especially the Pakistani students, have a lot to contribute to “this wonderful country”. She made this statement while addressing a webinar arranged by Pakistan High Commission Canada on 'Student Direct Stream: Opportunities for Pakistani Students in Canada'. The event was moderated by Consul General of Pakistan Toronto Mr. Abdul Hameed and also addressed by Pakistan’s High Commissioner to Canada Ameer Khurram Rathore as well as several noted experts and academicians, including Dr Chaudhry Faisal Mushtaq, Dr. A...

November 24, 2021 at 4:26 pm | Economic Affairs

SINGAPORE, Nov. 24— Gold prices edged up on Wednesday, although strength in the US dollar and bets that the Federal Reserve could raise interest rates sooner kept the metal below the key $1,800 mark. FundamentalsSpot gold rose 0.3% to $1,794.96 per ounce by 0239 GMT, after slipping as much as 1.4% to its lowest since Nov. 5 on Tuesday. US gold futures added 0.6% to $1,793.90 per ounce. The dollar index was steady and remained close to its highest in 16 months, raising bullion's cost to buyers holding other currencies. Gold slides over 2pcInvestors are betting that the newly renominated Fed Chairman Jerome Powell will need to step up the pace at which the central bank is normalizing monetary policy to better grapple with surging ...

November 24, 2021 at 4:26 pm | Economic Affairs

November 23,2021Islamabad (Press Release)Foreign Secretary Sohail Mahmood received Nigel Casey HC, UK’s Special Representative to Afghanistan here on Tuesday at the Ministry of Foreign Affairs. Foreign Secretary shared Pakistan’s perspective on situation in Afghanistan, especially humanitarian aspect; emphasized urgent steps to prevent humanitarian crisis and economic collapse; stressed importance of stable and prosperous Afghanistan for the region.

November 23, 2021 at 7:48 pm | Economic Affairs

November 23,2021Islamabad(Press Release)The National Assembly Special Committee on the Agricultural Products recommended that the Minimum Indicative Price of Tobacco should be fixed at Rs. 260/kg. The Committee instructed the Pakistan Tobacco Board to ensure that no stock of tobacco is left unsold with the farmers and urgent steps should be taken to ensure that the cigarette manufacturers purchase 1.4 million kg surplus tobacco as per assigned quota under the PTB Marketing Rules. Speaker National Assembly Asad Qaiser presided the meeting attended by Syed Fakhar Imam, Federal Minister for National Food Security and Research, Shahram Khan Taraki, Minister for Education, KP and members of the Special Committee on Agricultural Products.The mem...

November 23, 2021 at 7:47 pm | Economic Affairs

Media ReleaseWashington, Nov. 23–White House on Tuesday said it would make 50 million barrels of oil available from the U.S. Strategic Petroleum Reserves to help cool oil prices.The release, a combination of a loan and a sale from the reserve was being in made concert with other releases from strategic reserves by China, India, South Korea, Japan and Great Britain, the White House said.The move is designed to tame soaring energy prices after the OPEC producer group and its allies rebuffed repeated requests from Washington and other consumer nations to pump more quickly to match rising demand.U.S. President Joe Biden is facing low approval ratings due to high prices for gasoline and other consumer items in the recovery from the coronaviru...

November 23, 2021 at 5:44 pm | Economic Affairs

AgenciesTOKYO, Nov. 23– Gold prices edged up on Tuesday but hovered close to their lowest level in more than two weeks hit in the previous session, as the dollar gained on US President Joe Biden's nomination of Federal Reserve Chair Jerome Powell for a second term.Spot gold rose 0.2% to $1,809.40 per ounce, after sliding 2.1% to its lowest since Nov. 5 on Monday. US gold futures gained 0.2% to $1,809.60 FundamentalsSpot gold rose 0.2% to $1,809.40 per ounce by 0048 GMT, after sliding 2.1% to its lowest since Nov. 5 on Monday. US gold futures gained 0.2% to $1,809.60. The dollar index held near a 16-month peak after Biden on Monday nominated Fed Chair Powell for a second four-year term, bolstering bets the central bank might raise i...

November 23, 2021 at 2:06 pm | Economic Affairs

AgenciesMELBOURNE, Nov. 33. Oil prices fell on Tuesday on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand faltering as COVID-19 cases flare up in Europe.The United States is expected to announce a loan of crude oil from its emergency stockpile on Tuesday as part of a plan it hashed out with major Asian energy consumers to lower energy prices, a Biden administration source familiar with the situation said.US West Texas Intermediate (WTI) crude futures fell 58 cents, or 0.8%, to $76.17 a barrel at 0423 GMT.Brent crude futures fell 42 cents, or 0.5%, to $79.28 a barrel."US President Biden is said to be preparing to announce a release of oil from its strategic petroleum re...

November 23, 2021 at 2:04 pm | Economic Affairs