Islamabad: The International Monetary Fund (IMF) has deposited $1.2 billion into the State Bank of Pakistan’s (SBP) account, boosting the cash-strapped nation’s hope for economic...
BEIJING: Ahsan Iqbal, the Minister of Planning, Development, and Special Initiatives has said that Pakistan is eager to move the China Pakistan Economic Corridor (CPEC) into its next phase with greater vigour and hopes that the benefits of the CPEC will benefit not only China and Pakistan but the entire region. After the 12th Joint Cooperation Committee (JCC) of the CPEC meeting in Beijing, Ahsan Iqbal gave an interview to the Global Times. Iqbal, who has a wealth of knowledge and a lengthy history with the CPEC, expressed his shock at how far the project has come in just ten years. The beauty of the CPEC is that it is a project between two countries that enjoy a very...
MULTAN: On Thursday, Prime Minister Shehbaz Sharif urged that public welfare projects be completed as quickly as possible and emphasised that such initiatives should not be politicised for the benefit of the public. Speaking while on a tour of the 500 bed Nishtar Hospital II, which is still under construction, he claimed that the public welfare projects experienced a significant setback under the previous administration. The prime minister expressed his delight with the pace of the hospital’s construction but regretted that phase II of Nishtar Hospital’s building was abandoned while Imran Khan was prime minister. He said that the huge patient population in the city and surrounding areas was impacted by the non-implementation of the development projects. He expressed confidence that under the supervision of Interim Chief Minister Mohsin Naqvi, the expansion of hospital would be completed...
ISLAMABAD: The design of a balanced approach that might cut the cost of life-saving medications while simultaneously ensuring the expansion of the nation’s pharmaceutical industry was emphasised on Wednesday by Prime Minister Shehbaz Sharif. Speaking at the Pharma Export Summit and Awards (PESA-2023), he stated that the government was dedicated to both helping the pharmaceutical industry flourish and protecting the underprivileged on the one hand. Corporate executives from domestic and international pharmaceutical businesses as well as pharma specialists attended the event hosted by the Pakistan Pharmaceutical Manufacturers’ Association (PPMA). The nation’s pharmaceutical industry, according to the prime minister, is crucial to addressing medical demand. He paid tributes to the companies for propelling the export of medicines. Because of the steep rise in the cost of raw...
ISLAMABAD:President Dr Arif Alvi has rejected a representation filed by Bank Alfalah Ltd (BAFL) against the decision of Banking Mohtasib directing it to send an...
BEIJING: At its 12th meeting, the Special Joint Cooperation Committee (JCC) decided to build on the foundation set by the previous ten years in order to make the coming decade magnificent. At the NDRC office, Professor Ahsan Iqbal, the Federal Minister for Planning, Development, and Special Initiatives, and Mr. Cong Liang, the Vice Chairman of the National Development & Reform Commission (NDRC) of China, co-chaired the 12th (Special) JCC of the China Pakistan Economic Corridor (CPEC). JCC also emphasized the significance of key projects in energy, IT, transportation, and infrastructure development. These projects are now operational and providing numerous opportunities...
ISLAMABAD:Syed Naveed Qamar, the federal minister of commerce, emphasised on Wednesday the importance of concerted efforts to increase pharmaceutical exports to $1 billion by 2025 and to $5 billion by 2030 in order to strengthen the nation’s foreign exchange reserves. Realising the pharmaceutical industry’s export potential, he suggested that the government, pharmaceutical industry participants, and regulatory agencies work together to unlock this industry’s full potential and promote the nation’s economic growth. The minister discussed the government’s objectives to considerably enhance Pakistan’s pharmaceutical exports during his speech at the 6th Pakistan Pharma Summit and Pharma Export Summit and Awards (PESA) 2023. The event was organized by the Pakistan Pharmaceutical Manufacturers’ Association (PPMA), brought together industry leaders, experts, and stakeholders to discuss...
Nawaz Sharif, the leader of the Pakistan Muslim League Nawaz, has said that that the country’s economy is rebounding on Wednesday. The PML-N Quaid, who is now in Saudi Arabia, met with the party’s office holders there. He spoke with them about the nation’s political and economic status. Nawaz asserted strongly on this occasion that Pakistan’s economy is on the road to revival. He hoped that the nation would advance once more and that people’s lives would improve. The Pakistani diaspora in Saudi Arabia and other nations around the world, according to the former three-time prime minister, is a resource for Pakistan. He emphasised that it is up to us to find solutions to their issues. The PML-N delegation met Nawaz Sharif under the leadership of party Secretary General...
ISLAMABAD: On Tuesday, the Executive Committee of the National Economic Council (ECNEC) authorised six projects, including the “Prime Minister’s National Programme for Solarization of Agriculture Tube Wells” that aims to aid the farming community and achieve national food security. The ECNEC meeting, presided over by Senator Mohammad Ishaq Dar, Minister of Finance and Revenue, gave the go-ahead for the solarization of tube wells in Punjab, Sindh, Khyber Pakhtunkhwa (KP), and Balochistan at a cost of Rs 377,236.275 million over three years. “For the fiscal year 2023–2024, Phase I of the project will cost Rs 90 billion, including Rs 30 billion from PSDP and an equivalent share from the province governments and beneficiary farmers. The project is to be executed by the Ministry of National Food Security through the Federal Water Management Cell (FWMC) and Provincial Departments...
Islamabad: In addition to the $3 billion StandbyAgreement with the International Monetary Fund (IMF), Finance Minister Ishaq Dar announced on Tuesday that the State Bank of Pakistan (SBP) has received $2 billion from Saudi Arabia. “This inflow has increased the forex reserves held by SBP and will accordingly be reflected in the forex reserves for the week ending July 14, 2023,” added Dar. The minister continued, “I offer our sincere gratitude to the leadership of the Kingdom of Saudi Arabia for their tremendous gesture and assistance by depositing the said deposit of $2 billion with the State Bank of Pakistan. I speak on behalf of the prime minister and army chief. Prime Minister Shehbaz Sharif also expressed his gratitude to Saudi Arabia and Crown Prince Mohammad Bin Salman for ensuring financial support to Pakistan....