Pakistan's Economy - News and Updates

[Nilgiri]

It does not supprazz me at all. The proper rescue of Pakistan's economy is dependent on what it is able to deliver in Afghanistan, as I have said before.

And 100's of Pakistani members rather bicker and trumpet about 20 billion "MOU investment" from Saudi Arabia (given the history of where and what materialises of that). smh.

Defence spending goes up 22%, development spending goes down 37%....

 

[VCheng]

And 100's of Pakistani members rather bicker and trumpet about 20 billion "MOU investment" from Saudi Arabia (given the history of where and what materialises of that). smh.

Defence spending goes up 22%, development spending goes down 37%....

And anytime there is talk of reducing the defense expenditure, tensions at the border ratchet up conveniently. Every time.

 

[Nilgiri]

And anytime there is talk of reducing the defense expenditure, tensions at the border ratchet up conveniently. Every time.

You've had too much to think. Better scoot before the thought police show up.

 

[H!TchHiker]

And anytime there is talk of reducing the defense expenditure, tensions at the border ratchet up conveniently. Every time.

I don't think there is any correlation here..Military budget is independent variable here...It will move in positive trend whatever the case is

 

[VCheng]

You've had too much to think. Better scoot before the thought police show up.

Scooting away quickly, far far away!

I don't think there is any correlation here..Military budget is independent variable here...It will move in positive trend whatever the case is

Of course. Of course! Nothing to see here.

 

[Maxpane]

Pakistan gets a big news from Indonesia
22 Feb, 2019

SHARES

• 
  

ISLAMABAD: Indonesia has issued a formal notification for the correction of Indonesia-Pakistan Preferential Trade Agreement (IP-PTA) by offering immediate market access for 20 products of Pakistan’s prime interest.

READ MORE:Pakistan Army vows to give India a big surprise if attacked
The priority products included mangoes, broken rice, ethanol, tobacco, yarn and fabric, home textile, terry towel, apparel and knitwear.

A memorandum of understanding to amend the Preferential Trade Agreement between the two countries was signed during the visit of the Indonesian president in January 2018. Following this, a meeting was held between the Indonesian trade minister and Commerce Secretary Younas Dagha on the sidelines of Shanghai Expo in 2018 wherein the latter underlined the need for correction in PTA and requested for early resolution of this issue.


READ MORE:National Security Committee meeting: PM Khan gives free hand to Armed Forces to retaliate to Indian misadventures
The secretary also took up the issue of non-tariff barriers imposed on Pakistani agriculture products by Indonesia . Owing to the sustained efforts of the Ministry of Commerce, Indonesiahas finally offered unilateral market access for Pakistani products.

 

[Introvert]

South Korean company shows interest to invest in Pakistan

Dr. Won Ho Jung, Head, Overseas Business Division, Line Tech Inc, South Korea visited Islamabad Chamber of Commerce & Industry and exchanging views with local business community said that his Company was interested to make investment in Pakistan to manufacture various products including LEDs, solar cells, machine tools, vacuum products and others. He said in the first phase, his Company was looking for partners in Pakistan to introduce its products in Pakistani market and at later stage it was planning to setup a factory in Pakistan for manufacturing activities with transfer of technology from South Korea. Dr. Won Ho Jung said that his Company was also interested in water purification and water treatment plants in Pakistan as they have found Pakistan a potential market for business and investment. He said his Company was importing leather from Brazil and was interested to import leather from Pakistan for which it was looking for credible leather exporters. Speaking at the occasion, Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that Pakistan was a huge market of over 200 million consumers due to which foreign investors were doing successful business in Pakistan. He said that consumer products including LEDs, solar cells, vacuum products and others have great demand in our market and South Korean Company should explore setting up manufacturing plant in Pakistan.

https://dailytimes.com.pk/358070/south-korean-company-shows-interest-to-invest-in-pakistan/

 

[thunderkaka]

Pakistan, Turkey sign accord to set up centre of Excellence for Hospitality, construction

ISLAMABAD - Pakistan and Turkey have inked an agreement for establishment of state of the art Center of Excellence for Hospitality & Construction.

Statment issued by federal ministry of education said that under this agreement, Turkish Cooperation & Coordination Agency (TIKA) will establish State-of-the-Art Centre for Hospitality & Construction at National Skill University Islamabad (formerly NISTE).

“Pakistan and Turkey share the bond which joins the hearts and binds us emotionally” said the minister for Federal education & professional Training, Shafqat Mahmood while addressing an agreement signing ceremony between Pakistan and Turkey, organized by National Vocational & Technical Training Commission (NAVTTC) here today.

From Pakistan’s side, Mr. Mr. Shafqat Mahmood, Federal Minister for Education and Executive Director NAVTTC Dr. Nasir Khan, and from turkey’s side President of TIKA, Dr. Serdar Cam signed the agreement.

“Pakistan is brimming with a diverse landscape and there is so much to see.

We are focused on creating the right environment and infrastructure for tourists and in the next few years Pakistan will emerge as one of the best tourist destinations in the world, the minister said.

Creation of a state of the art institute in hospitality would be a step further in meeting the vision of our Prime Minister of a developed nation, the minister said.

He thanked the government of Turkey for its never ending support and expressed hope to enhance cooperation in future. He appreciated the efforts of NAVTTC in creating an enabling environment and making skill sector vibrant and attractive for youth.

The ambassador of Turkey Mr. Mustafa Yurduakul while addressing the ceremony said, “Pakistan and Turkey are brotherly countries and we are very happy to be a part of the present government’s quest towards provision of better education and vocational training to youth”.

Turkey will always be standing by Pakistan and we look forward to enhancing cooperation in not only education but also other sectors, he emphasized.

Together we will harvest the result of our collective efforts in the near future, he stated.

President of TIKA, Dr. Serdar Cam termed the agreement a huge success in taking cooperation between the two countries further. When we are investing in young people we are investing in our future, he added.

Establishment of Center of Excellence for Hospitality & Construction would be a masterpiece of Pak-Turkey friendship, said the Chairman NAVTTC Syed Javed Hassan while addressing the ceremony.

This institution will be the first public institution of its kind in Pakistan, which will provide the most advanced training in the Hospitality sector.

The hotel industry in Pakistan is one of the most vibrant and rapidly growing industries and provides exciting career opportunities for highly skilled workforce.

It has great potential to increase remittances, generate employment for youth, contribute to taxes and boost other important allied business activities such as tourism, event management, airline, transportation, and logistics etc.

Pakistan has more than 10,000 hotels including five, four, three stars with over 50,000 rooms. Hotel and Tourism Industry generates over 1.5 million jobs Hotels and Sierra tourism industries generate more than 1.5 million jobs which is about 2.5% of the total employment this agreement is expected to significantly increase this rate.

Moreover, the entire hospitality and tourism sector will get a boost and will also provide a highly trained workforce to the domestic and international hospitality industry.

Highly skilled workforce trained from the Centre will meet the requirements of domestic industry including CPEC projects and would be a source of increase in remittances.

https://nation.com.pk/01-Mar-2019/p...re-of-excellence-for-hospitality-construction

 

[ziaulislam]

And 100's of Pakistani members rather bicker and trumpet about 20 billion "MOU investment" from Saudi Arabia (given the history of where and what materialises of that). smh.

Defence spending goes up 22%, development spending goes down 37%....

Its called election year adjustment
Than you are quoting federation budget 60 resources go to provinces and they dont even have to do debt financing
E.g development project of punjab province is lare than federation !

Defence budget in terms of dollars wss decreased

if Pakistani Rupee Value Increase Then Inshallah Pakistan Grow . Check Today Dollar Rates : http://eurotopkr.com/dollar-to-pkr.php

Rupee value has nothing to do with growth

 

[thunderkaka]

Iran expresses interest to import meat, livestock from Pakistan

ISLAMABAD: Iran has expressed interest in importing meat and livestock products from Pakistan, saying it has huge potential in this particular sector.

Iranian Ambassador Mehdi Honardoost expressed his interest for importing meat and livestock from Pakistan during a meeting with Minister for National Food Security and Research, Sahibzada Mehboob Sultan.

The Iranian envoy said that Iran had a big demand for these products, adding it was importing them from Latin America and Brazil, which were quite costly.“Iran is aware of Pakistan’s potential in the field and is more eager to import from Pakistan,” he said.

Honardoost said that Iran was eager to talk on every forum at their side to benefit from Pakistani meat products.

During the meeting, matters related to promoting bilateral relations through trade especially in the field of agriculture were discussed.

They agreed that there were certain issues in trading agricultural commodities between the two sides.

He told the Iranian ambassador that Pakistan had a state of the art meat processing plant in Karachi and it had potential to export to Iran the required quantity of meat.

The federal minister invited the Iranian team to visit the remarkable meat facility in Karachi.

https://arynews.tv/en/iran-keen-import-meat-livestock-pakistan/

 

[Clutch]

 

[ziaulislam]

If CAD of 400 million is maintained for next 12 months this will be 6 b dollars which is the target (~2% of GDP)

This will be difficult if oil picks up and once summer fuel import start to kick in but will hope exports and remittances keep the current pace of 12-14% and 2%(hopefully near to 10%)

This will mean adjustment of 70% from projected 24b dollars without really hurting the growth(down to 4.4% from 5.2%) the drop in growth is more due to fiscal adjustment rather than CAD curtail(down to 5% from 6.6%)

The fiscal deficit will probably touch 5.5 and may even go further due to three reasons
1. Additional 400b in interest rates
2. Loss of 400b from oil and mobile and early tax relief by PMLN govt
3. War expensive of tune of 20b rupees

5.5% will still be a big achievement if it can be achieved..the key will be gas GIDS ..if that materialize govt will acheive 5-5.5%

Next year will be real challenge !

Will FBR deliver or not

 

[VCheng]

Taken from:

https://www.dawn.com/news/1470592/p...-jet-but-the-economy-is-the-real-battleground

 

[ziaulislam]

https://www.facebook.com/video.php?v=10156453541744527

Update on Malaysian investment and chinse export updates

 

[thunderkaka]

UK-Pakistan chamber to invest £200m

LAHORE: The UK-Pakistan Chamber of Commerce and Industry (UKPCCI) on Sunday announced to invest £200m in Pakistan under which it would operate an aircraft of the Pakistan International Airlines (PIA) under the public-private partnership.

It would invest £140m in the government’s Naya Pakistan Housing Project and other segments of real estate while paying attention to the textile sector also.

The announcement was made by UKPCCI President Amjad Khan and Secretary Mian Wahidur Rehman at a news conference at the Lahore Press Club on Sunday.

They said the selected areas for investment, included the PIA, housing, education and health, tourist destinations in Gilgit-Baltistan and Khyber Pakhtunkhwa, halal food restaurants chain, a food processing plant in Malir, Karachi, and Sialkot’s surgical and sports goods. They said the chamber’s director, Syed Siraj Ahmad, would provide free-of-cost software to improve the PIA management. Under the initial negotiations, the administrative matters of the PIA plane, which the chamber wanted to operate, would rest with it and the PIA would handle its operations.

https://www.dawn.com/news/1476156