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Pakistan

PM Shehbaz asks Turkish investors to expand footprint in renewable energy

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1 year ago

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  • PM says Pakistan to ensure hassle-free investment environment.
  • Turkish investors invited to tap Pakistan’s immense potential.
  • Premier says more Turkish firms eager to invest in Pakistan. 

ISTANBUL: Prime Minister Shehbaz Sharif Saturday called on the Turkish conglomerates to invest in Pakistan’s renewable energy sector as the power-deficient country was in dire need of sustainable sources.

“Turkiye investors are invited to build a solar park that could generate around 10,000 megawatts of energy for the country,” he said speaking to Turkish businessmen at the Pakistan-Turkiye business council meeting in Istanbul.

He said Pakistan paid $27 billion in energy imports in the last fiscal year (2021-22).

“This is an unsustainable amount hence we decided to slash the energy import bill. We rolled out our vision of creating 10,000 MW solar power scheme in Pakistan.” 

“We will fulfil this vision with investment from Turkiye, China, Saudi Arabia, Qatar and UAE,” he said.

He invited Turkish companies to tap the immense trade potential between the two brotherly countries, which he said should also be reflected in bilateral trade and business.

He reassured Turkish investors that Pakistan would provide a hassle-less and red-tape-free environment to Turkish investors.

“His government would no longer tolerate any snags and impediments in the way of investment from foreign investors including the Turkish brothers,” the PM said addressing a Turkiye-Pakistan Business Council meeting.

He said during his meeting with President Recep Tayyip Erdogan, he was informed that more Turkish companies were eager to come to Pakistan.

The PM said it was regrettable that in the past regime the Turkish companies that invested in Pakistan were not paid their dues on time. Similar was the case with the Turkish airlines operating in Pakistan, h added.

PM Sharif said such lethargy and red tape were unacceptable to his government and the people of Pakistan as they had benefited from the Turkish investment and support.

“I want to convey this message to all through you that we are brothers and family and will not tolerate such snags and impediments which hurt our ties,” he said, reassured that his government would remove all the issues and address their genuine issues.

He said to further promote their bilateral trade and business relations, work on the ‘Trade and Goods Agreement’ between the two brotherly countries would be expedited.

He said that they had signed an MoU to enhance the bilateral trade volume up to $5 billion in the next three years.

Turkiye’s annual trade stood at around $250 billion dollars and the trade of goods between Pakistan and Turkiye was hovering around one and a half billion dollars which were peanuts considering the immense potential, he added.

The prime minister stressed that such a scenario did not reflect their exemplary brotherly ties and stressed fully exploring the indefinite potential on both sides.

He said they should make efforts to double this trade volume in the next three years with strong commitment and sincerity of purpose as ‘only hard work and untiring efforts would be key to a wonderful success story.

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Entertainment

UAE grants Aiman Khan a Golden Visa

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18 hours ago

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The actress Aiman Khan has notified her fans and followers that the United Arab Emirates has granted her a Golden Visa.

Renowned for her dramatic roles in plays like “Ghar Titli Ka Par,” “Meri Beti,” and “Ishq Tamasha,” Aiman Khan has been spotted putting more emphasis on her personal life with her spouse, fellow actress Muneeb Butt, and moving away from the entertainment industry recently.

Instagram users saw Aiman Khan post a photo of herself receiving the Golden Visa from UAE officials.

The actress was shown gratitude in the caption for the extraordinary hospitality and kind welcome she received from the Dubai government.

Aiman Khan is shown in the accompanying photo, probably when applying for a visa, looking smart in black among representatives from the United Arab Emirates.

Fascinatingly, Aiman Khan’s spouse, Muneeb Butt, previously uploaded a comparable Instagram picture revealing his triumphant Golden Visa acquisition.

Often taking his wife, Aiman Khan, along, Muneeb Butt travels to Dubai for business and pleasure. Even after their daughter Amal was born, the well-known couple continued to observe this habit.

Furthermore, Miral, their second daughter, made her first vacation outside of Pakistan when they recently took her to Dubai.

“Dubai holds a special place in my heart, from memorable vacations to productive work trips,” Muneeb Butt complimented in the description.

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Business

Exchange achieves all-time high: KSE-100 index surpasses 72,500 points

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18 hours ago

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With the benchmark KSE-100 index hitting a record-breaking high of 72,501 points, the Karachi Stock Exchange saw yet another incredible rise.

Within Pakistan’s financial environment, investors demonstrated a strong sense of trust in the market as the bullish trend continued.

As a result of the significant inflow of investment and optimism among market players, the index had an amazing 450-point rise during the trading session.

In their analysis of the market’s remarkable performance, financial analysts pointed to a number of causes for the upward trend, such as encouraging economic data, robust company profits, and the government’s proactive measures to promote economic expansion.

The durability and upward momentum of the market have also been greatly aided by continuous infrastructural investments and efforts meant to boost investor confidence.

In the meantime, interbank rates increased by six paisas, and the US dollar’s value saw a slight rise in the currency market. As a result of the current market conditions and the dynamic nature of foreign exchange swings, the dollar was quoted at Rs 278.45 in the interbank market.

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Education

Youth from North Waziristan are given an educational and recreational tour by the Pakistan Army.

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18 hours ago

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Youth from North Waziristan set off on a three-day enjoyable and enlightening excursion as part of the Pakistan Army’s “Ilm Tolo Da Para” project.

The young participants in the trip had a great time touring some of Islamabad’s most notable sites, such as the magnificent Faisal Mosque, Ayub Park, Pakistan Museum of Natural History, Pakistan Monument Museum, Folk Heritage Museum, and the picturesque Lake View Park.

The Imam led an insightful workshop for the students at Faisal Mosque, exploring the mosque’s significance and its place in the history of the country.

The youth’s awareness of their country’s legacy was strengthened by their visits to the People’s Heritage and Pakistan Monument, which provided them with valuable insights into the sacrifices made during Pakistan’s founding.

As the eager young people engaged in exhilarating rides, games, and other leisure pursuits, Ayub National Park transformed into a playground where they made enduring memories.

The youth gave the Pakistan Army their sincere gratitude for organising this beneficial event that combined learning with leisure.

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