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October 7, 2021Islamabad( Press Release)The 4th Round of Bilateral Political Consultations (BPC) between Pakistan and Canada was held this evening. Foreign Secretary Sohail Mahmood led the Pakistan delegation while the Canadian side was led by Deputy Foreign Minister Marta Morgan.During the BPC, a wide-range of bilateral relations as well as regional and multilateral issues of mutual interest were discussed. Warmly welcoming the delegation, Foreign Secretary noted that Prime Minister Imran Khan and Foreign Minister Shah Mahmood Qureshi had conveyed congratulatory messages to their respective Canadian counterparts following the recent elections. He noted that Pakistan and Canada had enjoyed a longstanding, friendly and cordial relationship....

November 8, 2021 at 12:12 am | Economic Affairs

Shanghai (Press Release)Ambassadof Pakistan to China, Mr. Moin Ul Haque, met with Mr. Mr. Lui Dashan, President of NORINCO Group in Shanghai. The two sides exchanged views on further enhancing cooperation. NORINCO is a leading Chinese state enterprise specializing in wide range of military and civilian products. It has a strong presence in Pakistan and is executing many important defence and civilian projects. It had also built the Lahore Orange Line Metro Train. Ambassador Haque said that Pakistan valued its long partnership with NORINCO. He invited the company for exploring investments in oil and gas, housing, railways and mining sectors of Pakistan.The two sides would remain engaged to further enhance mutual cooperation.

November 7, 2021 at 10:38 am | Economic Affairs

Shanghai(Press Release) Pakistan's ambassador to China Moin Ul Haque visited the headquarters of Shanghai Automotive Industry Corporation (SAIC) in Shanghai where he was warmly received by Mr. Zhao Aimin, Executive Vice President of SAIC.Mr Zhao briefed the ambassador about the company, its core businesses and its overseas projects. SAIC was the top Chinese automakers with a large number of its own brands in both passenger and commercial vehicles. It was also actively promoting the commercialization of new energy vehicles. He further informed that the SAIC had successfully entered into Pakistan market with introduction of its MG model and started production in July 2021 in partnership with JW SEZ. The company planned to expand its producti...

November 7, 2021 at 10:32 am | Economic Affairs

November 6, 2021Islamabad(Press Release)The OIC’s Special Envoy for Jammu and Kashmir, Ambassador Yousef Aldobeay will be visiting Pakistan and the Azad Jammu and Kashmir from 7-12 November 2021. A high-level delegation including the OIC’s Assistant Secretary General for Humanitarian Affairs, Ambassador Tarig Bakhit and other Senior Officials will accompany the Special Envoy.The Special Envoy will hold discussions encompassing the peace and security, human rights, humanitarian and legal aspects of the grave situation in the Indian Illegally Occupied Jammu and Kashmir (IIOJK). His visit will reinforce the centrality of a just settlement of the Jammu and Kashmir dispute to lasting peace in South Asia. During his visit to Azad Jammu an...

November 6, 2021 at 10:10 pm | Economic Affairs

AgenciesBEIJING, Nov. 6– China has boosted daily output of coal to a new annual high of 11.88 million tonnes after concerted efforts to alleviate a supply shortage as it heads into winter, the powerful state planner said, and production could rise further.The Asian giant's consumption of polluting coal has drawn scrutiny this week as nations gathered in Glasgow to discuss further measures needed to slow global warming.Beijing, by far the world's biggest consumer of coal and also the top producer of climate-warming greenhouse gases, is committed to reducing coal use, but only after 2025."According to current production increase trends, the daily production rate is expected to soon exceed 12 million tonnes," the National Development and Re...

November 6, 2021 at 6:11 pm | Economic Affairs

ISLAMABAD, Nov 5: Securities and Exchange Commission of Pakistan (SECP) registered 2,017 new companies in October 2021, raising the total number of registered companies to 154,093. Total capitalization (paid-up-capital) of the new companies stood at Rs2.7 billion.According to an official communication with media, around 99 percent companies were registered online, while 140 foreign users were also registered from overseas. The October incorporation consist of 63% private limited companies, 33% single member companies and three percent public unlisted companies, not for profit associations, and limited liability partnership (LLP).Construction & real estate sector took the lead with the incorporation of 369, trading with 302, and informa...

November 5, 2021 at 6:53 pm | Economic Affairs

EA ReportLahore Nov. 5— Punjab government sealed two sugar mills besides seizing hundreds of tonnes of the commodity following rise in sugar prices.Chief Secretary Punjab Kamran Afzal has said that a crackdown has been started against sugar hoarders in the province.Two sugar mills have been sealed in Sargodha and Faisalabad while 6,757 tonnes of sugar were recovered from Rahim Yar Khan, 100 bags from Lahore, 480 bags from Sargodha, and 960 bags from Sahiwal.Chief Secretary Punjab informed that government officials have been deployed for checking the stock of sugar mills and selling them at a fixed price.Kamran Afzal further said that the confiscated sugar will be sold in the market at a controlled rate which will reduce the price of suga...

November 5, 2021 at 6:52 pm | Economic Affairs

AgenciesNov. 5— Oil prices rose on Friday after OPEC+ producers rebuffed a U.S. call to raise supply to cool the market, sticking to plans for a gradual increase in output after cuts made in the face of the coronavirus crisis.Brent crude rose 36 cents, or 0.45%, to $80.90 a barrel by 0912 GMT after touching $81.79. U.S. West Texas Intermediate crude gained 60 cents, or 0.76%, to $79.41 after rising as high as $80.17.The OPEC+ group of major producers agreed on Thursday to stick to their plan to raise oil output by 400,000 barrels per day (bpd) from December, ignoring calls from U.S. President Joe Biden for extra output to cool rising prices. read moreTop OPEC producer Saudi Arabia dismissed calls for speedier increases from the Organizat...

November 5, 2021 at 6:50 pm | Economic Affairs

October 4,2021Islamabad(Press Release)King Salman Humanitarian Aid and Relief Center (KSRelief) has launched a project to distribute 29,000 winter kits among poor and deserving people living in Balochistan in collaboration with NDMA, Balochistan Government and with the help of distribution partner. 10,000 winter kits will distribute in district harnai which is recently affected with earthquake. No of 2100 kits will distribute among North Waziristan IDPs living in Bakakhail TDP Camp. In a press statement issued by the Saudi Embassy here,each package comprises 2 Quilts, men's and women's shawls, 10 pairs of socks for men women and children, 4 Children Cap, 4 Children Maflars and 4 men's and women's warmers for needy families living in the co...

November 5, 2021 at 11:47 am | Economic Affairs

AgenciesHONG KONG, Nov 5 — Asian markets were mixed Friday following the previous day's gains, with eyes on the release of key US jobs data later in the day, while investors are also assessing the outlook for central bank monetary policy in the face of surging inflation.Friday's gains came after a recent heavy retreat in prices following news that Iran nuclear talks were progressing and could lead to the removal of sanctions barring the sale of Tehran's crude on world markets.Equities around the world enjoyed a healthy run-up Thursday after the Federal Reserve finally announced its plan for tapering the vast bond-buying programme that has provided crucial support since it was put in place at the start of the pandemic.The news removed a l...

November 5, 2021 at 11:45 am | Economic Affairs