Turkey and Pakistan enjoy heart-to-heart relations and Ankara is keen to boost bilateral trade to at least up to $5 billion in the next two to three years. The current volume of trade is not reflective of the actual potential of both countries. This was stated by Turkish Ambassador Mehmet Pacaci while addressing the business community during his visit to Islamabad Chamber of Commerce and Indust
Nomura has warned that seven countries – Pakistan, Egypt, Romania, Sri Lanka, Turkey, Czech Republic and Hungary – are now at a high risk of currency crises. The Japanese bank said that 22 of the 32 countries covered by its in-house “Damocles” warning system have seen their risk rise since its last update since May, with the largest increases in the Czech Republic and Brazil. It meant the su
The Pakistan Association of Large Steel Producers (PALSP) requested the State Bank of Pakistan (SBP) to compensate importers who were overcharged by banks in opening Letters of Credit (LC) at higher spot rates, making windfall profits in the process. In a letter addressed to the SBP governor, PALSP raised its concerns over the issue that has left the steel industry struggling to survive in this
In what appears to be a deliberate move, the sugar mills in Punjab have refused to start the sugarcane crushing season from November 25, as a deadlock between the government and mills over permission to export the sweetener persists. The delay in the crushing, despite the issuance of the permit to start the 2022-23 season, has multiplied the worries of the growers, particularly those who had al
A parliamentary panel was informed on Tuesday about the serious threat of collapse of the tunnel of Neelum – Jhelum project. Chairman National Electric Power Regulatory Authority (Nepra), Tauseef Farooqi drew the attention of the parliamentary panel towards the serious threat pertaining to the closure of the tunnel of the Neelum-Jhelum project. Responding to queries at the Senate Standing Co