Almost after seven years, Pakistan and Turkiye have implemented a preferential trade agreement to boost bilateral trade volume across various sectors. Both sides notified duty reductions on mutually agreed tariff lines with effect from May 1, an official announcement of the commerce ministry said on Thursday. Islamabad and Istanbul signed the “Trade in Goods Agreement” in August 2016. Under
A delegation from Gilgit-Baltistan has visited the Tashkurgan town in Xinjiang, an autonomous territory in northwest China, to discuss matters of mutual interest and sought relaxation on exports to the neighbouring country through Khunjerab Pass. The parliamentary delegation, headed by GB Assembly Speaker Syed Amjad Ali Zaidi and on a five-day visit to Xinjiang, also asked Chinese authorities t
Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $6 million to $4.46 billion during the week ending on April 28, announced the central bank on Thursday. Currency experts believe a meagre fall in SBP reserves helped the exchange rate to remain stable for more than a couple of weeks. However, bankers maintain that the current account surplus of $654m in March was the
The International Monetary Fund (IMF) is preparing to discuss Pakistan’s budget plans for the coming financial year as part of a process to unlock a crucial financing injection for the cash-strapped nation, the IMF’s country mission chief said. An IMF review of the budget presents a fresh hurdle before the lender approves the release of pending bailout funds, which are crucial for Pakistan to r
Stocks continued their upward movement on Wednesday as the buying momentum continued in the cement sector. Topline Securities said the sustained interest in the cement sector was on the back of the second buyback announcement of more than Rs10 billion by Lucky Cement Ltd, which is the country’s largest cement player, a day ago. Arif Habib Ltd said another catalyst was the latest data on the