Category: Shortcode

Dar informs Senate: Forex reserves rise to around $14bn

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Ishaq-Dar

ISLAMABAD: Finance, Revenue Minister Ishaq Dar claimed in the Senate on Sunday that Pakistan’s foreign exchange reserved increased from “$ 8 billion dollars to around $ 14 billion due to the prudent economic policies of the government.” He said the government “managed to achieve this objective with the generous support from friendly countries like Saudi Arabia, Qatar and China”. “China rolled over our loans, when it realised that Pakistan had met all the technicalities in this regard,” Dar claimed. SBP-held foreign exchange reserves fall $541mn, stand at $8.19bn The minister…

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CPEC likely to get fresh impetus

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Minister for Planning and Development Ahsan Iqbal says Pakistan expects speedy progress in the second phase (2030) of the China-Pakistan Economic Corridor following visit of China’s Vice Premier He Lifeng ISLAMABAD: Minister for Planning and Development Ahsan Iqbal said on Sunday that Pakistan expects speedy progress in the second phase (2030) of the China-Pakistan Economic Corridor (CPEC) following visit of China’s Vice Premier He Lifeng. Addressing a press conference, the minister said that He Lifeng role has been very important in making CPEC successful after becoming Chairman National Development Reform…

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Chinese vice premier due in Pakistan on 10th anniversary of CPEC

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ISLAMABAD — Chinese vice premier is expected to travel to Pakistan on Monday, July 31 to attend 10 years of  China-Pakistan Economic Corridor (CPEC) celebrations. Sources familiar with the development, on the condition of anonymity, told Pakistan Observer that Iron Brothers Islamabad, and Beijing are celebrating the 10th anniversary of the flagship project of the Belt and Road Initiative at the end of this month with renewed vigor and anticipation.China, having invested close to $30 billion in energy and infrastructure projects over the past decade in the South Asian nation, is set…

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Economic challenges: timely actions needed

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economy

The coalition government of the Pakistan Democratic Movement (PDM) is approaching completion of its tenure in the next few days. While presenting their last budget for the current fiscal year (FY 2024), the fourth-time federal finance minister, Muhammad Ishaq Dar, stated that Pakistan’s GDP growth for the year is projected to be 3.5 percent. Furthermore, the budget 2023-24 allocates approximately Rs 1150 billion for Public Sector Development Program (PSDP). This includes Rs 80 billion for Prime Minister Initiatives, Rs 54.5 billion for aviation division, Rs 5.4 billion for defence and…

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