As the third Belt and Road Initiative forum is set to begin on Oct 17 in Beijing, Pakistani and Chinese authorities are scheduled to sign an addendum to the CPEC’s framework agreement, replacing the mega $9.85 billion ML-1 project cost with a newly rationalised and agreed project cost of $6.678bn. Since Prime Minister Anwaarul Haq Kakar and his delegation are set to attend the forum, the ration
Pak Suzuki Motor Company Ltd (PSMC) may decide to delist from the Pakistan Stock Exchange (PSX) as its majority shareholder has expressed its intention to scoop up the entire shareholding currently resting with minority shareholders. The Japanese automaker told investors on Thursday it’ll “review and consider” the proposal by the majority shareholder to acquire all outstanding shares to become
The rupee kept appreciating against the US dollar while the foreign exchange reserves held by the State Bank of Pakistan (SBP) witnessed a marginal rise of $31 million, reported the central bank on Thursday. The dollar lost another 93 paise to close at Rs278.58 in the interbank market which did not react to the disappointing figure of remittances. Several analysts were of the view that the 20pc
Master Changan Motors Ltd (MCML) has become the first company to export Made-in-Pakistan 14 Oshan X7 SUVs to Kenya for onward sale to Kenyan and Tanzanian markets. Last year, the first sample unit was also exported to a country in the Oceania region. This major milestone was achieved on the 10th anniversary of the China-Pakistan Economic Corridor (CPEC), thus setting an example of the deep econ
Commerce Minister Gohar Ejaz and Russian Ambassador to Pakistan Danila V. Ganich have agreed to increase bilateral trade. An official announcement issued after the meeting said both sides reaffirmed their commitment to fostering stronger cooperation to increase the bilateral trade volume. This commitment reflects the shared interest in fortifying the enduring friendship and economic partnersh