Govt. expresses resolve to successfully complete IMF programme in September
The government on Thursday expressed its resolve to successfully complete the International Monetary Fund (IMF) in September saying that the ongoing 7th review with the IMF team was going on as per schedule. Clarifying some news items speculating recently about the on-going 7th review under IMF’s Extended Fund Facility (EFF), the ministry of finance in…
Adil Aziz
UK-Pakistan Business Council urges exporters to reap maximum benefits from GSP Plus
Chairman UK-Pakistan Business Council, Mian Kashif Ashfaq Thursday urged exporters to reap maximum benefits from GSP plus as its playing key role in Pakistan’s trajectory to a greener future. Talking to a delegation of women exporters led by Ms. Saba Aalam Butt, he said GSP plus has strengthened Pakistan’s commitment to further improve decent work…
CPEC second phase to reinforce Pakistan’s efforts for economic development: PM
Prime Minister Imran Khan Tuesday said that the ongoing second phase of the China-Pakistan Economic Corridor (CPEC) would reinforce Pakistan’s efforts for economic development with enhanced cooperation in areas such as industrial development, agriculture, and information technology. The prime minister, in a meeting with Chinese State Councilor and Foreign Minister Wang Yi on the sidelines…
AkzoNobel Pakistan to setup a new manufacturing facility at Faisalabad
AkzoNobel Pakistan Ltd, a leading global manufacturer of paints and coatings, announced the construction of a new manufacturing plant in Pakistan. The integrated paints and coatings plant will be located at the Allama Iqbal Industrial City in Faisalabad, Pakistan. The facility will span 25 acres and is scheduled to start operations in 2023. With agile…
ADB approves $300 milion loan to develop Pakistan’s capital markets
The Asian Development Bank (ADB) Tuesday approved a $300 million loan to further develop Pakistan’s capital markets, promote private investment in the country, and help to mobilize domestic resources to finance sustainable growth. The second subprogram of ADB’s Third Capital Market Development Program builds on institutional and regulatory reforms put in place under the first…
IsDB Group approves $14.5 Billion for projects in Pakistan
The Islamic Development Bank (IsDB) Group has approved total financing of about US$ 14.5 billion for 412 projects in Pakistan out of which 372 are completed and 40 are active ongoing projects. Out of the total, IsDB financed $ 2.7 billion, while $ 274.9 million have been approved by IsDB Group’s private sector development arm,…
GDP growth to exceed 5% mark in FY22: Tarin
Owing to robust growth of the country’s large scale manufacturing, agriculture and exports, Minister for Finance and Revenue Shaukat Tarin Sunday expressed the hope that the Gross Domestic Product (GDP) growth would exceed 5% mark against the set target of 4.8% for the fiscal year 2021-22. “The welcome news is that the LSM has grown…
KATI expresses concern over instability in domestic politics
Korangi Association of Trade and Industry (KATI) President Salman Aslam while expressing concern over instability in Pakistan’s politics said that instability is pushing the country backward economically. As a result, the country’s overall production capacity and export targets seem to be difficult to meet, while the uncertainty is exacerbating the economic situation. Salman Aslam said…
LSM growth jumps 7.6 pc in 7 months
The highest increase of 9.7 percent was witnessed in the indices monitored by the Provincial Board of Statistics (BOS), followed by 6.9 percent increase in indices monitored by Ministry of Industries and 0.5 percent increase in the products monitored by the Oil Companies Advisory Committee (OCAC) Large Scale Manufacturing Industries (LSMI) production grew by 7.6…
Kazakhstan to host summit for Pakistani companies in May this year: Ambassador
Kazakhstan will host a trade summit for Pakistan in Atakent Expo Centre, Almaty in May this year to provide opportunity for Pakistani companies to show case their products to business community of Kazakhstan. This was stated by Ambassador of Republic of Kazakhstan to Pakistan Yerzhan Kistafin, who called on the Federal Minister of National Food Security…