Month: August 2020

Samsung to set up smartphone assembly in Pakistan

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KARACHI: Leading sma­rt­phone manufacturer Sam­sung is considering setting up an assembly plant in the country, said Minister for Industries and Productions Hammad Azhar on Friday. “Smartphone production in Pakistan is multiplying following the Device Identification, Registration and Blocking System (DIRBS) implementation and Mobile [Device Manufacturing] Policy launched recently,” Azhar tweeted on the microblogging website. He said that Samsung Pakistan appreciated the government’s policies and is actively considering setting up a smartphone assembly plant in the country. “Met with Samsung Pakistan managing director and chief executive officer. They appreciated both policies and are…

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1st Int’l Virtual Conference on Pakistan Hydropower Sector to be held on August 25th

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1st International Virtual Conference on Pakistan Hydropower Sector to be held on August 25th to discuss more opportunities to produce cheap and clean energy from the hydro sector as the country is producing 9000MW from the hydro sector. The Energy Update in collaboration with Private Power Board Infrastructure (PPIB) and Pakhtunkhwa Electric Development Organization (PEDO) in support with Sustainable Development Policy Institute (SDPI) is organizing the conference to be participated by energy experts from within and outside the country through a digital platform. Chief of the organizing committee of the…

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Port Qasim handles 9% more cargo in July

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KARACHI: Pakistan’s economy has started showing signs of recovery from the Covid-19 pandemic as Port Muhammad Bin Qasim handled 9% more cargo in July 2020 compared to the corresponding month of previous year. In a tweet on Thursday, Federal Minister for Maritime Affairs Syed Ali Haider Zaidi underlined that the Port Qasim Authority (PQA) handled 4.8 million tons of cargo in July 2020 against 4.4 million tons in July 2019. “This is the highest ever cargo tonnage handled in a single month in the PQA’s history,” he said. “The economy…

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Understanding economic policy in Pakistan

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ISLAMABAD: How is Pakistan’s public sector pension system managed? What are the main components of the annual budget and current account? What is the total revenue, profit and annual repatriation by the multinational companies operating in Pakistan? What is the share of profit that private and foreign banks earn in Pakistan; what are their main lending portfolios and how much of them goes to key economic sectors such as agriculture and SMEs? What is the size of public sector subsidies and what is the rationale and effectiveness of such subsidies?…

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Exports – major driver of economic development’

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KARACHI: Without exports no country has ever developed, just like no country has developed without generating other countries’ interest in its economy through foreign investment, remarked Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh. Speaking at a webinar titled “Stabilising the economy through realistic reforms”, organised by the Karachi Council of Foreign Relations, Shaikh said because of the policy initiated by the current government to reduce imports and increase exports Pakistan had been able to bring down the current account deficit from $20 billion to only…

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