US expands visa interview waiver eligibility for Pakistani citizens
The United States Mission in Pakistan has announced the expansion of interview waiver eligibility at the U.S. Embassy in Islamabad and the U.S. Consulate General in Karachi for Pakistani citizens who are renewing B1/B2 tourist and business visas. “All Pakistani citizens, regardless of age, whose B1/B2 visas are valid or have expired within the last…
Adil Aziz
Gwadar port starts receiving government imports of bulk cargoes
The Gwadar port has started receiving government imports of bulk cargos as three consecutive vessels carrying 90,000 MT urea have already been arrived at the port and clocked the fastest discharge rate. This represents the efforts of Ministry of Maritime Affairs, China Pakistan Economic Corridor (CPEC) Authority, Gwadar Port Authority (GPA), Trading Corporation of Pakistan…
EETL saves Pakistan’s $3 Billion by handling 450 LNG cargoes substituting Furnace Oil import
Engro Elengy Terminal (Private) Limited (EETL) said it had successfully handled over 450 ship-to-ship [LNG] transfers since 2015, enabling Pakistan to save more than $3 billion through import substitution of the Furnace Oil. “In 2015, Engro developed the first-ever LNG terminal facility of Pakistan, built in a record 335 days. The terminal currently handles 68%…
SECP issues Guidelines for Offering Islamic Financial Services, 2023
In a landmark development for the growth of Islamic finance in the non-bank financial sector, the Securities and Exchange Commission of Pakistan has issued Guidelines for Offering Islamic Financial Services, 2023, covering all its regulated sectors. The guidelines are framed to facilitate growth of Shariah-compliant financial products in the financial services market regulated by the…
Government not considering access to commercial banks’ forex: Dar
Minister for Finance and Revenue, Ishaq Dar said that the government was not considering an access to foreign exchange reserves held with the commercial banks which he said were the property of the citizens. “I have already said that Pakistan’s reserves are $10 billion. The figures I quoted were based on the principle that national…
China pledges $100 Million additional aid to flood-hit Pakistan
China is pledging an additional $100 million to continue supporting Pakistan’s recovery efforts from the devastating 2022 floods, announced Luo Zhaohui, chairman of the China International Development Cooperation Agency (CIDCA). Also, regarding the technical assistance, from 2023 to 2025, China plans to train 1,000 technical staff and officials focusing on disaster prevention and management, Luo…
Airbus tops Boeing in 2022 plane orders and deliveries
AIRBUS consolidated its leadership in civil aviation for 2022 on Tuesday, reporting more orders and deliveries than American archrival Boeing as both companies contend with lingering supply chain challenges. In terms of deliveries, Airbus finished the year having 661 planes arrive with clients, much higher than Boeing’s 480. But the Airbus lead in new contracts…
Tapping multi-billion tourism potential for economic gains
When the world nations are earning billions of dollars annually from the tourism sector, Pakistan is still struggling to fully tap this resource with a minimal number of tourists visiting the country despite its uncountable bounties. An amalgamation of the scenic beauty of mountain ranges, vast plains, soothing lakes, gushing rivers, enchanting coastline, calm deserts…
Over 18% surplus witnessed in Pakistan-Bangladesh trade: State Bank
Pakistan’s goods and services trade with Bangladesh witnessed a surplus of 18.64 percent during first five months of current fiscal year (2022-23) as compared to the corresponding period of last year. The trade surplus during the months under review was recorded at $329.668 million against $277.863 million during same months of last year, showing 18.64…
Telecom revenues rise to Rs. 694 Billion in 2022: PTA
The telecom sector’s outstanding progress has resulted in a record-high revenue of Rs. 694 billion generated in the Financial Year 2021-2022 said the annual report of PTA. Pakistan Telecommunication Authority (PTA) Annual Report 2022 released here Wednesday, said that the telecom, sector attracted an investment of US$ 2,073 million during the same period and contributed…