Islamabad, Aug 28: The Special Investment Facilitation Council (SIFC), a hybrid civil-military organization established last year to encourage foreign investment in Pakistan, particularly from Gulf countries, was extended an invitation by Islamabad on Tuesday to Oman to invest in its agriculture, mining, and IT sectors. As the government gets ready to sign a new $7 billion International Monetary Fund agreement, which is awaiting approval by the lender’s executive board, Pakistan is concentrating on meeting its external financing needs by corresponding with foreign governments and lenders to attract investment as well as looking for loan rollovers to avoid default. Pakistan took…
Author: Iqra Khan
Islamabad, Aug 28: Pakistan is looking for up to $20 billion in investment, mostly through government-to-government (G2G) partnerships, in an effort to revitalize its economy.The work is under progress. Strengthening ties with Gulf states and Saudi Arabia, among other development partners, is the main goal. This action is part of Islamabad’s strategy to use these high-level talks to obtain significant inflows in a number of different industries. A parliamentary panel was briefed by the Minister of Petroleum, Musadik Malik, who declared, “Efforts to secure up to $20 billion in investment for Pakistan, with a focus on government-to-government (G2G) agreements are…
Islamabad, Aug 28: Pakistan-China Institute (PCI), headed by Senator Mushahid Hussain Sayed, successfully organised a unique event under its ‘Friends of Silk Road’ series, which brought together leaders of 8 political parties on one platform to reaffirm support for CPEC. Leaders belonging to parties from Government and Opposition, PML-N, PPP, PTI, MQM, BAP, NP, NDM and JUI-F, from all provinces, were represented. They also discussed the results of the recently-concluded 3rd Plenum of the Communist Party of China (CPC) and its impact on China and its foreign relations. Senator Mushahid Hussain Sayed, Chairman Pakistan-China Institute, emphasised the pivotal role of…
Islamabad, Aug 28: The most recent data released by the central bank showed that the amount of profit and dividends repatriated by foreign investors increased dramatically to $139.13 million in July from $2.16 million during the same time the previous year. According to the data, foreign corporations repatriated $133.86 million during the period against foreign direct investments (FDI) in various industries, which represents an increase of around 8633.5% YoY in July compared to $1.53 million in SPLY. The amount paid out as repayment for the portfolio investment was $5.27 million as of July 2023, up from $0.62 million the previous…
Islamabad, Aug 28: The Prime Minister’s Coordinator for Climate Change and the Environment, breastfeeding is an essential habit that has significant health advantages for mothers and babies. because milk strengthens the emotional link between a mother and her child, gives babies vital nutrients, and strengthens their immune systems. “The mother-infant relationship is strengthened, breastfeeding promotes healthy growth, and breastfeeding has good effects on the environment and economy. Nonetheless, Ms. Alam noted as the keynote speaker at a seminar titled “National Advocacy & Sensitization with Parliamentarians on the World Breastfeeding Awareness Week” held here on Wednesday that “promoting and supporting breastfeeding…
Islamabad, Aug 28: The Pakistan Sports Goods Manufacturers and Exporters Association (PSGMEA) hosted a German delegation on Wednesday, during which they talked about trade-related matters. Dr. Michael Arretz, Managing Director VFI e.V German Importers, Sarim Mehmood, Sector Expert/Consultant, Christian von Mitzlaff, Supply Chain Due Diligence Consultant, and Bettina Muller, Project Director, SEQUA, were among the delegation members. The guests were greeted by Secretary General Mohsin Masood, Vice Chairman Zarrar Ahmed Dodhi, Chairman PSGMEA Muhammad Arshad Latif Butt, and other members. “We look forward to learning how we can collaborate to enhance sustainable development,” stated Arshad Latif Butt, procedures in our…
Islamabad, Aug 28: The Pakistan Stock Exchange’s (PSX) 100-Index closed at 77,992.79 points on Wednesday, down 91.45 points or 0.12 percent from the previous business day’s close of 78,084.24 points. The number of shares traded throughout the day was 636,024,989, up from 591,511,522 the day before. The price of the shares was Rs 16.267 billion, down from Rs 17.177 billion on the previous trading day. Up to 452 firms traded their shares on the stock market; 140 of them saw gains and 260 saw losses; 52 companies’ share prices stayed the same,with 124,735,968 shares trading at Rs 11.44 a share,…
Islamabad, Aug 28: Along with demolishing six homes, the Lahore Development Authority (LDA) sealed forty more premises on Wednesday as part of its ongoing operation against unlawful construction and commercial fee defaulters in the provincial capital. The teams operated at Timber Market, Gujjarpura, Gulshan Ravi, and Shadman as directed by Director General LDA Muhammad Tahir Farooq. Two illegal structures were removed from Gujjarpura and four illegal constructions in the Timber Market were dismantled. Twenty properties in Gulshan Ravi, including banks, food stores, clinics, and private schools, were sealed by the LDA teams for failing to pay commercial rates. In addition,…
Islamabad, Aug 28: The Ministry of Federal Education and Professional Training and the National Radio Telecommunication Corporation (NRTC) have partnered to solarize 100 rural Islamabad schools in the next eight weeks, with the goal of giving the kids a sustainable future.The goal of this large-scale project is to transform the energy generation of these institutions, lessening their need on fossil fuels and fostering a sustainable future,within the eight-week project completion period, solar power systems will be installed in up to 100 rural Islamabad schools. The Ministry of Federal Education and Professional Training and NRTC, the Ministry of Defence Production, have…
Islamabad, Aug 28: The committee chairman’s statement that Islamic banks are exploiting customers by charging exorbitant interest rates, the Senate Standing Committee on Finance on Wednesday ordered the State Bank of Pakistan (SBP) to present a thorough briefing on Islamic banking. The committee also instructed the central bank to give a briefing on Islamic banking practices in other nations, under the direction of Chairman Senator Saleem Mandiwalla. Senator Mandiwalla criticized Islamic banks, claiming that while mainstream banks charge about 20 percent interest, Islamic banks charge up to 30 percent. He even went so far as to accuse Islamic banks of…
