Tag: Economic Development
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Pakistan’s exports to China surge to $1223.5 million
In a noteworthy development, Pakistan’s export of goods and services to China experienced a substantial increase of 39.44 per cent during the initial five months of the current fiscal year (2023–24), as reported by the State Bank of Pakistan (SBP).
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IMF board’s January meeting to shape future disbursements for Pakistan
The International Monetary Fund’s (IMF) Executive Board is scheduled to convene on January 11 to endorse the Staff-Level Agreement (SLA) with Pakistan, marking the inaugural review of the $3 billion Stand-By Arrangement (SBA). In June, the IMF Executive Board granted approval for a crucial nine-month arrangement with Pakistan, aimed at supporting its economic stabilisation programme.…
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Pakistan and Saudi Arabia reach consensus on long-awaited GCC free trade agreement
Pakistan’s Commerce and Industries Minister, Dr Gohar Ejaz, led an official delegation to Saudi Arabia. The delegation included secretaries from the Ministry of Commerce, the Board of Investment (BOI), and officials from the Attorney General’s Office.
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FBR restructuring: 145 offices set up to add 2 million new taxpayers
In a bid to streamline operations, the Federal Board of Revenue (FBR) has set up 145 district tax offices, aiming to bring in 1.5 to 2 million new taxpayers by June 2024.
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Pakistan exports first batch of Changan Oshan X7 SUVs to Kenya and Tanzania
Pakistan has made a significant foray into the global automobile market, marking a historic moment as it exported a batch of 14 SUV vehicles to Kenya and Tanzania, as reported by ARY News on Thursday. In a landmark achievement, Pakistan, through the collaboration of Master Changan Motors, a joint venture between Pakistan and China, has…
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Pakistan expected to export cars to Kenya
Master Changan Motors, a noteworthy Pakistani-Chinese collaboration, has initiated the export of its Oshan X7 mid-size crossover to Kenya.
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Pakistan plans to establish 5,000 e-working centres to empower freelancers
Dr Umar Saif, the Caretaker Federal Minister for Information Technology and Telecommunications, has announced a significant government initiative to establish 5,000 collaborative e-working centres designed specifically for freelancers.
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Pakistan’s foreign exchange reserves boosted by $2 billion deposit from Saudi Arabia
Pakistan’s central bank has received a significant financial boost of $2 billion from Saudi Arabia, as announced by Federal Minister Ishaq Dar. This infusion of funds will greatly bolster the country’s low foreign exchange reserves.
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Khunjerab Pass reopens to boost bilateral trade between Pakistan and China
In a press release issued by the PM Office Media Wing, Prime Minister Muhammad Shehbaz Sharif expressed his pleasure over the reopening of the Khunjerab Pass on Sunday. He stated that this development would help to increase bilateral trade between Pakistan and China, and described it as a welcome occasion for boosting trade with “Iron…
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Pakistan received over $48 billion in bailout loans from China between 2008-2021
A study published on Tuesday revealed that China has spent $240 billion rescuing 22 developing countries between 2008 and 2021. This amount has increased in recent years as more countries struggled to repay loans taken for the building of “Belt & Road” infrastructure. The researchers, from the World Bank, Harvard Kennedy School, AidData, and the…