Southern Pakistan bus fire claims 18 lives and 28 people are wounded
A bus that was travelling in the southern province of Sindh on the evening of the 12th caught fire, killing 18 people, including 8 children, and wounding 28 others, according to Pakistani police in Islamabad on October 13. According to police sources cited by Pakistani media, the bus carrying roughly 55 passengers had been intended […]
Chinese envoy expresses interest in the manufacturing and housing sectors
ISLAMABAD: Nong Rong, the Chinese ambassador to Pakistan, expressed a strong desire to investigate the business potential in the nation’s manufacturing and housing industries on Wednesday. According to a news release, Iftikhar Ali Shallwani, the federal secretary of housing and works, appreciated the envoy’s dedication and interest when he visited him at his office. In […]
Untapped export potential for Pakistani phones, electrical goods, and car parts
ISLAMABAD, 13 Oct. In response to the slower economy in light of the flooding, Syed Murtaza Mahmud, the Federal Minister for Industries and Production, said, “Pakistan may become an export hub for car components, mobile phones, and electrical goods.” On May 19, the government enacted an import ban on more than thirty luxury and non-essential […]
Pakistan’s rice export options
India restricted sugar exports in May 2022 and outlawed the export of wheat. Additionally, it has prohibited the export of broken rice and imposed an additional 20% tax on milled and semi-milled rice (excluding parboiled and basmati varieties). By increasing supplies and reducing food inflation, these actions seek to manage “national food security.” Since over […]
Government will issue bonds to raise $7 trillion
KARACHI: Over the next three months, the government hopes to raise more than Rs7 trillion by offering a variety of short- and long-term sovereign bonds to financial institutions (October-December). This is in reaction to the destruction brought on by the floods and the requirement to raise more funds to deal with their aftershocks. By issuing […]