Year: 2022

ECC approves increase in premium for diesel imports

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For ensuring diesel availability in the harvesting season amid volatile international market, the government on Friday allowed an increase in premium charged to Pakistani importers by spot traders for three months i.e. April-June. The decision to this effect was taken at a hurriedly called special meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Shaukat Tarin. The single-point meeting of the ECC was called at a short notice in the morning to address a challenging market situation. A senior government official said the ECC…

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Non-profit IMI unveils its flagship Dream Project in New Jersey – USA

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Project spreads over 30-acre area with assisted living facility for elders in first phase New Jersey – USA The non-profit Imamia Medics International (IMI) has formally launched work on its flagship Dream Project in Robbinsville, New Jersey. An impressive ceremony was held in this connection at a hotel in New Jersey on 15th Shaban, Saturday 19th March. The event was attended by distinguished guests and dignitaries belonging to different walks of life. Notable guests included Consul General of Pakistan in New York, Ayesha Ali, Member of New Jersey General Assembly…

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China says willing to extend CPEC to Afghanistan

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Beijing welcomes Afghanistan’s active participation in the Belt and Road Initiative, a global infrastructure plan proposed by China, and is willing to push for extending the China-Pakistan Economic Corri­dor (CPEC) to Afghanistan, Chinese Foreign Minister Wang Yi said on Thursday as he made a surprise visit to Kabul. Wang met acting Afghan Foreign Minister Amir Khan Muttaqi to discuss political and economic ties, including starting work in the mining sector and Afghanistan’s possible role in China’s Belt and Road infrastructure initiative, according to a statement from an Afghan foreign ministry…

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A brewing commodity crisis and developing countries

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The United Nations has warned that Russia’s invasion of Ukraine could trigger a global famine as Moscow’s Black Sea blockade delays crucial grain exports, and stoked fears of a deepening hunger crisis in countries such as Yemen and Ethiopia. The UN’s special rapporteur on the right to food, Michael Fakhri, warned on Friday of a global famine as the result of Russia’s invasion. “For the last three years, global rates of hunger and famine have been on the rise. With the Russian invasion, we are now facing the risk of…

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