Pakistan, Russia reaffirm commitment to strong economic ties
The eight session of Pakistan-Russia Inter-Governmental Commission (IGC) on Trade, Economic, Scientific and Technical Cooperation concluded, reaffirming the commitment to a strong and comprehensive bilateral economic relationship. The three-day IGC meeting, co-chaired by Russia’s Energy Minister Nikolay Shulginov and Pakistan’s Minister for Economic Affairs Ayaz Sadiq, was attended by senior level delegates including ministers and…
Adil Aziz
Pakistan earns $1,087 million from IT services export in 5 months
Pakistan earned US$ 1,087.140 million by providing different Information Technology (IT) services to various countries during the first five months of the current fiscal year 2022-23. This shows a growth of 3.45 percent as compared to US$ 1,050.890 million earned through the provision of services during the corresponding months of the fiscal year 2021-22. During…
Boosting trade, a major challenge for economic revival
Amidst persisting economic crunch and diminishing foreign exchange reserves, boosting country’s exports is direly needed for strengthening economy and favorable exchange rate. Over the years, the non–consistent policies of the respective government gradually dragged the country to the verge of economic recession posing challenges like low growth rate, import-export imbalances, trade and current account deficit…
Pakistan-China crossing at Khunjrab Pass to be open from Jan 30 to Feb 10
The Pak-China border crossing at Khunjrab Pass will be temporarily open for trade from January 30 to February 10 to facilitate crossing of important Pakistani supplies stuck on the Chinese side. In the first phase, the Khunjrab Pass was temporarily opened on Tuesday and Wednesday to facilitate local trade and key hydropower projects. During the…
Government firm to revive IMF programme: Ayesha Ghous Pasha
State Minister for Finance and Revenue, Ayesha Ghaus Pasha highlighted that the government wants to continue programme with the International Monetary Fund (IMF) in such a way that the common man should not bear the burden of tough decisions to be made as per the Fund’s condition. Speaking to the media here after attending the…
Russian energy minister meets PM; long-term oil, gas supply from Russia to Pakistan discussed
A delegation led by Russian Energy Minister Nikolay Shulginov called on Prime Minister Shehbaz Sharif here wherein the two sides discussed the supply of oil and gas from Russia to Pakistan on a long term basis. During the meeting, both the sides agreed on the importance of energy sector for the development of bilateral economic and trade…
World Bank rebuts news of delaying loans for Pakistan
The World Bank rejected the news published in a section of press saying that the Bank had not delayed approval of any loan for Pakistan. “The press reports that refer to a World Bank decision to delay approval of potential Bank operations in Pakistan are unfounded”, Country Director of the World Bank for Pakistan Naje Benhassine…
Current Account Deficit falls to $3.66 Billion in July-December
The Current Account Deficit shrank by 60 percent to US$3.66 billion during first half (Jul-Dec) of current fiscal year as against the deficit of $9.1 billion recorded during same period of last year. In December, after posting decline for five consecutive months, the current account deficit edged up to $0.4 billion as compared to $0.252…
US wants to see Pakistan in ‘economically sustainable’ position: State Dept
The United States wants to see Pakistan in an economically sustainable position, State Department spokesperson Ned Price has said, noting that Islamabad was in negotiations with the International Monetary Fund (IMF) and other global financial institutions. Asked about Pakistan’s dwindling foreign exchange reserves, he told reporters at his daily press briefing, “This is a challenge…
BB Energy keen to supply LNG, petroleum products to Pakistan
The BB Energy, an independent energy trading company expressed interest to develop a strategic business relationship with Pakistan and supply affordable petroleum products and LNG to the country. According to press statement issued by finance ministry, Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar held a meeting with a delegation of BB Energy…