Connect with us

Latest News

First-ever barter trade deal signed by Russia and Pakistan at the inaugural trade forum in Moscow

Published

on

Following the first-ever Pakistan-Russia trade and investment summit in Moscow, where a delegation of more than sixty Pakistani enterprises took part, the two nations have inked their first-ever barter trade agreement.

Abdul Aleem Khan, the Minister for Privatisation, stated his belief in the opening of new bilateral connections between the two nations during his speech.

There have been diplomatic and commercial contacts between Pakistan and Russia for a long time, he remarked. He stated Pakistan places a high value on its ties with Russia, stressing the potential for mutual business cooperation between the two countries in a variety of sectors.

Pakistan’s economic environment is appealing, as the Minister for Privatisation pointed out.

Having the most permissive trade and investment policies in the area, he said that Pakistan is the fifth-largest market in the world. According to him, foreign investment is completely protected in Pakistan. We invite investments in every area of our economy.

The one billion dollar mark in bilateral trade between Pakistan and Russia has pleased both countries, as stated by Pakistan’s ambassador to Russia, Muhammad Khalid Jamali, in remarks on the occasion. He said this indicates both nations’ growing desire to improve their trade and economic ties.

Russian trade is seen as significant and trustworthy by Pakistan, according to the envoy. In order to improve economic ties, he said Pakistan looks forward to working with Russia.

Latest News

Pakistan promises to fully implement the $7 billion loan program at a meeting with the IMF team.

Published

on

By

Pakistan’s progress on the $7 billion loan package was assessed by the International Monetary Fund (IMF) and Pakistan during their second day of talks at the Ministry of Finance.

Muhammad Aurangzeb, Federal Finance and Revenue Minister, Minister of State for Finance Ali Pervaiz Malik, the governor of the State Bank, and the chairman of the Federal Board of Revenue (FBR) welcomed the IMF delegation, headed by mission commander Nathan Porter.

The discussion focused on the advancements made thus far in the execution of Pakistan’s $7 billion loan package.

Pakistan’s accomplishments in reaching the majority of the program’s goals for the first quarter of the current fiscal year were reported to the IMF delegation by Finance Minister Aurangzeb. He promised to pursue changes aimed at promoting economic stability and reaffirmed the government’s commitment to finishing the IMF program.

According to sources from the Finance Ministry, the IMF mission would stay in Pakistan until November 15 in order to carry out additional assessments.

The International Monetary Fund (IMF) group landed in Pakistan on Monday and began talking about the country’s fiscal performance with representatives of the Federal Board of Revenue (FBR). In the first quarter of the current fiscal year, the team, headed by the chairman of the FBR, provided the IMF with a briefing on tax collection and revenue numbers.

Between July and September, tax income amounted to Rs2,625 billion, which covered 96.6% of the first three months’ objective, according to FBR officials. Nevertheless, a shortfall of Rs190 billion was incurred in fulfilling the entire tax objective during the four-month period from July to October.

In September, FBR raised an extra Rs8 billion, exceeding the Rs1,098 billion objective, the IMF delegation was told.

Officials told the IMF delegation that over 5.2 million people filed income tax returns this year, generating over Rs132 billion in revenue, a 76% increase over the previous year. Additionally, during the first quarter, the FBR collected Rs 10 billion in taxes from shops.

Continue Reading

Latest News

NDMA predicts that smog would rise throughout Pakistan in November and December.

Published

on

By

A smog notice has been issued by the National Disaster Management Authority (NDMA), alerting people to the rising levels of haze in several Pakistani cities in November and December.

The advice states that smog is predicted to have a major effect on Lahore, Faisalabad, Multan, Bahawalpur, Peshawar, Nowshera, and Mardan, with morning and evening hours likely to see the highest levels.

The NDMA advised people to wear masks and refrain from needless travel in order to reduce their exposure to dangerous air pollutants.

In order to control the smog crisis, which worsens during Pakistan’s winter months due to seasonal weather patterns and pollution levels, authorities are keeping an eye on air quality levels and putting policies into place.

In the meantime, Islamabad’s Air Quality Index (AQI) of 268 was concerning, exceeding by 38.7% the WHO’s recommended air quality standards.

As a precaution against the dangerous air quality, authorities have recommended mask use for people with respiratory disorders.

There is a chance of smog and fog covering the city, but the Met Department predicts that dry weather will continue in Islamabad and the neighboring areas.

In Lahore, Kasur, Okara, Sialkot, Hafizabad, and Toba Tek Singh, Punjab, haze and fog are expected in the mornings and nights. In Jhang, Narowal, Attock, Jhelum, Chakwal, Mangla, Gujrat, Gujranwala, Sargodha, Sheikhupura, and Faisalabad, comparable circumstances are probably present.

Smog is also predicted to affect Bahawalpur, Bahawalnagar, Multan, Layyah, Bhakkar, Khanewal, Khanpur, Rahim Yar Khan, and Dera Ghazi Khan in South Punjab.

Cities in Khyber Pakhtunkhwa, including Peshawar, Nowshera, Mardan, Swabi, Kohat, Bannu, Lakki Marwat, and Dera Ismail Khan, are expected to see comparable fog and smog problems. Foggy weather is also predicted by the Met Department for the areas of Sukkur, Larkana, Kashmore, and Khairpur in Sindh.

In the meantime, cold weather is predicted for Balochistani hilly regions both in the morning and at night.

Continue Reading

Latest News

Punjab mandates that 50% of government and private office employees work from home.

Published

on

By

As the pollution levels in Punjab continue to rise, the government has mandated that half of its employees work from home.

Punjab Director General of Environment Dr. Imran Hamid issued the decision, which is applicable to all autonomous, semi-autonomous, and government institutions in the province. All department heads and secretaries have received the notification from the DG.

Just half of government employees will be forced to work on-site under the new criteria; the other employees must work from home. To further reduce automobile emissions that contribute to smog, all interdepartmental meetings must be conducted virtually, and staff who commute to work must carpool.

A separate notification outlines steps for private office staff in four divisions of Punjab, even though similar recommendations are applicable to government employees throughout the province.

50% of employees in all private offices, franchises, and non-governmental organizations across Punjab’s four divisions will be required to work from home, according to the law. Around half the employees in the following divisions—Lahore, Faisalabad, Gujranwala, and Multan—will be required to work from home.

The ruling states it was made in light of the rise in smog-related illnesses and applies to private offices from November 13 to December 31.

The notification claims that pollution levels are rising as a result of transport vehicles’ emissions of dangerous compounds. In light of the rise in smog-related illnesses, this action attempts to reduce traffic and the discharge of dangerous pollutants from moving vehicles.

In order to alleviate the extreme smog that is affecting Lahore and other Punjabi cities, the Environment Department has mandated that these measures be put into effect immediately.

Since the province’s air pollution levels are dangerously high, the Punjab administration has announced that schools and institutions in five more divisions will be closing.

The directive, which was issued by Imran Hamid Sheikh, the director general of environment, lists schools in the divisions of Sargodha, Rawalpindi, Dera Ghazi Khan, Bahawalpur, and Sahiwal. From November 13 to 17, all schools, including academies and tuition centers, will be closed, ranging from kindergarten to grade 12.

With the province still struggling with extreme smog, this action extends the first closures currently in place in Lahore and the neighboring areas. According to the environment department, the closures are intended to shield the general public’s health—especially that of young students—from the harmful consequences of the polluting air quality.

The Air Quality Index (AQI) of 268 in Islamabad was alarming, exceeding by 38.7% the WHO’s recommended air quality standards.

In an effort to protect people with respiratory disorders from the dangerous air quality, authorities have recommended mask use.

The Met Department says that while smog and fog could potentially engulf the city, dry weather is predicted to continue in Islamabad and the adjacent areas.

Smog and fog are expected in Lahore, Kasur, Okara, Sialkot, Hafizabad, and Toba Tek Singh in Punjab throughout the mornings and nights. Similar circumstances are probably present in Sargodha, Sheikhupura, Faisalabad, Jhang, Narowal, Attock, Jhelum, Chakwal, Mangla, Gujrat, and Gujranwala.

Continue Reading

Trending