By Mian Abrar It is shocking for most of the foreign visitors who have only heard of Xinjiang before to step out of Ürümqi Diwopu International Airport and see a completely transformed and bustling city waiting for tourists. Visits at several locations across Ürümqi indicate that Ürümqi, the capital city of Xinjiang Uyghur Autonomous Region, is one of the most-developed …
BEIJING: President Xi Jinping pledged on Thursday to step up China’s support across debt-laden Africa with funding of nearly $51 billion over three years, backing for more infrastructure projects, and the creation of at least 1 million jobs. China was ready to step up cooperation with Africa in industry, agriculture, infrastructure, trade and investment, Xi told delegates from more than …
ISLAMABAD: Pakistan’s central bank Governor, Jameel Ahmad, announced on Wednesday that inflation might surge in the coming months due to budgetary measures, rising energy prices, and the ongoing situation in the Middle East. However, he assured that the foreign debt repayment crisis is now over. He further stated that Pakistan’s foreign exchange reserves cover remains below the minimum threshold, standing …
KARACHI: The State Bank of Pakistan (SBP) announced on Monday that it had decided to cut the key interest rate by 100 basis points (bps) to 19.5 per cent from the previous rate of 20.5pc. The Monetary Policy Committee (MPC) statement issued by the central bank said that it had decided to cut the policy rate by 100bps to 19.5pc, …
ISLAMABAD: Finance Minister Muhammad Aurangzeb announced on Sunday that the government has returned approximately Rs68 billion in income tax refunds since the process began on July 1. Addressing a press conference in Islamabad, the finance minister said that if the government wants to expand the tax net and take it to 13 percent, then it also has to focus on …
ISLAMABAD: Finance Minister Muhammad Aurangzeb arrived in Beijing on Thursday for talks on power sector debt relief alongside structural reforms suggested by the International Monetary Fund, two government sources said. He held a meeting with his Chinese counterpart, they said, and is leading a delegation, along with Power Minister Awais Leghari, that will discuss several proposals, including reprofiling nearly $15 …
ISLAMABAD: Federal Finance Minister Mohammad Aurangzeb is set to embark on a three-day visit to China today, aiming to discuss the rescheduling of a $15 billion energy loan. According to sources from the Ministry of Finance, a joint working group may be established between Pakistan and China to facilitate the loan rescheduling. The discussions will also address issues related to …
ISLAMABAD: Prime Minister Shehbaz Sharif has set an ambitious goal to boost Pakistan’s annual exports to $60 billion within three years, directing the Ministry of Commerce and relevant agencies to implement practical measures to achieve this target. Chairing the National Export Development Board meeting in Islamabad, the premier stated, “Alhamdulillah, our exports exceeded $30 billion last fiscal year, and IT …
ISLAMABAD: The coalition government led by Prime Minister Shehbaz Sharif is exploring a multi-billion dollar agreement with Russia for the construction of a liquefied natural gas (LNG) pipeline, according to media reports. This strategic move follows a recent offer by Russian President Vladimir Putin during his meeting with PM Shehbaz on the sidelines of the Shanghai Cooperation Organisation (SCO) summit. …
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Thursday stated that the military’s pension structure is unique, requiring a complete overhaul of its service structure, and announced one year for implementing new pension regulations. He stated that their unique structure necessitates a comprehensive change in their service system, with a one-year timeframe to adopt new pension laws. He said this at the …