Gwadar Huafa Exhibition Center construction picks momentum
GWADAR: October 13, The main structure of the Gwadar Huafa Exhibition and Trading Center has been roofed, and construction is now fully underway. Chinese engineers and Pakistani laborers collaborated on this project. It is one of the large-scale development projects in the Gwadar Free Zone (phase I), which is located on the grounds of the […]
Pakistan’s foreign exchange reserves plunge sharply by $302 million, reaching their lowest level since July 2019
Islamabad: Pakistan’s foreign exchange reserves suffered further damage, falling by a staggering $302.9 million to $7.596 billion, the lowest level since July 2019. The State Bank of Pakistan reported on the condition of foreign exchange reserves each week, and as of October 7, the SBP holding reserves decreased to $7.59 billion from $7.89 billion on […]
Cainiao is officially acknowledged as the builder of Pakistan’s first intelligent express distribution facility
On October 14, it was claimed that the first Cainiao-built intelligent express distribution facility in Pakistan had just been delivered and inaugurated in Karachi. There is just a two-month construction window. The local e-commerce business Daraz owns the distribution facility, which will be one of the most cutting-edge logistical infrastructures in South Asia. The distribution […]
Pakistan will host an IMF mission in November
After the annual meetings in November, the International Monetary Fund (IMF) will dispatch a delegation to Pakistan to begin working with the government’s preparations for the upcoming review. Jihad Azour, the IMF’s director for the Middle East and Central Asia, made the announcement during a media event on Thursday evening. “We now have a larger […]
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 […]
Areas Affected By Floods Need 2,990,000 Seed Bags for Rabi Crops
ISLAMABAD: To meet the demands of the upcoming Rabi season, flood-affected areas across the nation need 2.99 million seed bags, Commissioner Food Security Ministry of National Food Security and Research announced at a meeting held on Wednesday at the National Flood Response and Coordination Center (NFRCC). At the meeting, which was presided over by Minister […]