Last update: Wed, 25 May 2016 07pm

Business and Economy: Pakistan


The National Economic Council (NEC) is likely to meet on May 30 to consider and approve development outlay and macroeconomic framework for the next fiscal year. Sources in the Finance Ministry stated the NEC meeting to be presided over by Prime Minister Nawaz Sharif and attended by Chief Ministers as well as Finance and Planning Ministers would consider development budget and macroeconomic framework finalised by the Annual Plan Co-ordination Committee (APCC).
The Government of Khyber Pakhtunkhwa will present its annual budget for the financial year 2016-17 at the Provincial Assembly of Khyber Pakhtunkhwa on June 6, 2016 at 04:00pm, says a notification issued by the Provincial Assembly Secretariat on Tuesday.
Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz on Tuesday said that China-Pakistan Economic Corridor (CPEC) can also be a catalyst for regional economic integration, which is the main objective of building a community of shared destiny. Addressing Beijing Forum here at NUST, he said that CPEC will also complement China''s broader vision of building a Silk Road Economic Belt and Maritime Silk Road in the 21st century.
President Mamnoon Hussain Tuesday said that China-Pakistan Economic Corridor (CPEC) is a historic step forward under which the development of road, rail, sea and air infrastructure projects would transform the whole region into a hub of regional and global trade. The President was addressing an inaugural ceremony of Beijing Forum at the National University of Sciences and Technology (NUST).
Federal Minister for Planning, Development and Reform Ahsan Iqbal said on Tuesday that political stability and continuity of policy were necessary for local as well as foreign investments and economic development of the country. The Minister said this while addressing a seminar on 'Pakistan China Iron Brothers' organised by the Ministry of Information and Broadcasting at Pakistan Broadcasting Corporation in Islamabad.
The country provisionally received $5.68 billion ie 62 percent of budget estimates of foreign assistance from multilateral and bilateral donors in the current financial year (2015-16) against $4.12 billion during the same period of last year.
Capital Development Authority (CDA) Chairman Maroof Afzal has taken leave for one month at the most crucial time when his appointment, due to his performance, is being questioned not only in the National Assembly Standing Committees, Senate committees, Public Accounts Committee but also in the Supreme Court. Maroof Afzal took one month leave from Prime Minister and left for Lahore, less than a week after he resumed his duties after staying abroad for couple of weeks.