Prime Minister Shehbaz Sharif on Thursday said Pakistan was taking steps to improve governance, increase the tax net and ensure ease of doing business to attract foreign direct investment (FDI), state-run Radio Pakistan reported. During a meeting with China Exim Bank President Dr Wu Fulin in Beijing today, the premier said the results of reform measures had started appearing as the “inflation i
Pakistan exported its first batch of fresh cherries to China using a reefer container and projected a total quantity of 260 tonnes by the end of this month. An official announcement from the Trade Development Authority of Pakistan (TDAP) said the first cargo was six tonnes, followed by 12 tonnes, beginning Monday and lasting until June 30. The country’s success in exporting the fruit is due
Appreciating the Chinese development model, Prime Minister Shehbaz Sharif said on Thursday Pakistan can become a great nation if it followed that model through hard work and focus on industrial and agricultural growth. “All Pakistanis will also have to pass through this thorny process. There is no other way to earn respect in the world,” the prime minister said at the 4th Pakistan-China Friends
The International Monetary Fund (IMF) said on Thursday it is continuing virtual talks with Pakistan on a new, homegrown Extended Fund Facility (EFF). IMF spokesperson and Director of Communications, Julie Kozack, told journalists at a news briefing in Washington that an IMF staff mission visited Pakistan from May 13 through May 23. “We made significant progress towards reaching a staff-l
The State Bank of Pakistan’s (SBP) foreign exchange reserves have remained around $9 billion since the IMF’s $1.1 billion arrival in April, reflecting no other inflows. The central bank reported on Thursday that its reserves increased by a meagre $16 million to $9.109bn during the week ended May 31 without mentioning the source of this inflow. However, the reserves of the commercial banks fe