Month: June 2022

Pakistan and Saudi Arabia have renewed their commitment to bolster economic ties in diverse fields including construction, agriculture, livestock and social sector. This commitment to strengthen economic relations was reiterated in an exclusive meeting organized by the Punjab Board of Investment and Trade in the honour of a high-profile Saudi Business Delegation visiting Punjab. The Saudi Business Delegation was led by H E Fahad Al Bash comprising members of the Saudi Business Chamber, while Dr Javed Ahmed Qazi, Secretary Industries Punjab, Imran Amin, CEO of Lahore Central Business District Development…

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Shabbir Mansha, acting president FPCCI, has said that the interest rate of 13.75 percent will not let the economy to grow and the prices of electricity and gas have already made us uncompetitive as far as the exports are concerned. Additionally, there are rumors that interest rate may be further raised. He added that the government should also consult with the stakeholders in business, industry and trade on how and when interest rate can be brought down so that, businesses can plan their year ahead accordingly. Shabbir Mansha noted with…

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The Ministry of Economic Affairs said on Thursday that 43 per cent of about $35 billion worth of foreign-funded projects were problematic — either not progressing well or unable to deliver the desired outcomes. At a review meeting of the National Coordination Committee on foreign-funded projects, the ministry reported that it was managing an ongoing portfolio of $34.8bn such projects of various sectors of the economy. “Out of the total portfolio, $15bn (43pc) is considered as problematic,” it added. On top of that, the meeting was informed that the “share…

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Russian Consul General Andrey Viktorovich Fedrov has stated that he wasn’t aware of any oil deal between Russia and Pakistan. However, he said that Pakistan and Russia were currently experiencing friendly bilateral ties and Kremlin considers Islamabad a ‘friendly’ country. In an interview, the Russian consul general also expressed his desire to establish trade and economic cooperation with between Russia and Pakistan. Fedrov said that trade ties between Pakistan and Russia were affected due to “illegal sanctions” by the West. While expressing trade potential between Pakistan and Russia, he said…

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