Just in:  

You are here: Home»Business and Economy»Pakistan

Business and Economy: Pakistan


China does not plan to use either its new Asian Infrastructure Development Bank (AIIB) or Silk Road fund to finance the $46 billion Pakistan-China Economic Corridor, with money to come from both countries instead, a senior diplomat said on Friday. President Xi Jinping''s trip to Pakistan next week is expected to focus on the corridor, a planned network of roads, railways and energy projects linking Pakistan''s deepwater Gwadar port on the Arabian Sea with China''s far-western Xinjiang region.

Pakistan needs a "huge amount of financing" for infrastructure and energy projects and China is ready to announce help when President Xi Jinping visits next week, a foreign ministry official said Friday. Islamabad has for decades been Beijing''s closest ally in South Asia, and China - which is expanding its influence in the region - is a major trading partner and key supplier of military technology to Pakistan.
Minister for Finance Senator Mohammad Ishaq Dar has congratulated the nation on achieving foreign exchange reserves of US $17.2 billion showing a sign of growing strength of the economy. "This is another promise fulfilled" Dar said in a statement issued by Ministry of Finance on Friday. He added that as a sign of growing strength of the economy, the country''s forex reserves have crossed 17 billion dollars and currently stand at 17.2 billion.
The country''s current account deficit maintained downtrend and fell 46 percent in the first nine months of this fiscal year, ie, FY15 compared to the same period of last fiscal year. According to State Bank of Pakistan (SBP), current account posted a $1.456 billion deficit during July-March of FY15 compared to $2.692 billion in the corresponding period of last fiscal year (FY14), depicting a decline of $1.236 billion.
Khyber Pakhtunkhwa Assembly Friday unanimously urged the federal government for inclusion of the western route for China-Pakistan-Economic-Corridor (CPEC) in early harvest plans in matters relating to CPEC while signing investment agreements and memorandums of understanding (MoU) with People's Republic of China.
Chinese President Xi Jinping's visit to Pakistan next week would provide a powerful impetus to build on the China-Pakistan friendship and deepen comprehensive collaboration. Foreign Ministry spokesperson announced on Friday morning that the Chinese president will pay a state visit to Pakistan from Monday to Tuesday at the invitation of Pakistan President Mamnoon Hussain and Prime Minister Nawaz Sharif.
The Provincial Development Working Party Punjab approved seven development schemes of various development sectors with an estimated cost of Rs 5.578 billion on Friday including upgradation of Radiology / Specialties Departments in Services Hospital, Lahore at the cost of Rs 2.108 billion. These schemes were approved in the 42nd meeting of Provincial Development Working Party (PDWP) of current fiscal year 2014-15 presided over by Punjab Chairman P&D Board Muhammad Irfan Elahi.
  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  Next 
  •  End 
  • »


Index Closing Chg%
Arrow DJIA 17,826.30 1.54
Arrow Nasdaq 4,931.82 1.52
Arrow S&P 2,081.18 1.13
Arrow FTSE 6,994.60 0.93
Arrow DAX 11,688.70 2.58
Arrow CAC-40 5,143.26 1.55
Arrow Nikkei 19,652.88 1.17
Arrow H.Seng 27,653.12 0.31
Arrow Sensex 28,442.10 0.78

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln