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Pakistan, Uzbekistan agree to form joint working group on trade, investment

ISLAMABAD -UNS : Pakistan and Uzbekistan on Thursday agreed to form a joint working group on trade and investment to explore opportunities to fortify relations. This was decided while a high-ranking ministerial delegation from Uzbekistan led by Uzbek Minister for Foreign Trade Khodjaev Jamshaid called …

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Budget Strategy Paper for next fiscal year approved

BY SAJJAD HUSSAIN ISLAMABAD: Prime Minister Shahid Khaqan Abbasi has said that sustained income and revenue streams will benefit the country instead of obtaining loans. He said this while chairing a meeting of the federal cabinet in Islamabad on Tuesday. Finance Division presented the Budget …

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Over 8,276bn corruption, irregularities in federal govt

ISLAMABAD -UNS : The Department of Auditor General of Pakistan (DAGP) pointed out irregularities amounting to Rs8,276 billion in the federal government while irregularities amounting to Rs1,156 billion were pointed out in provincial governments during the audit year 2017-18. The meeting of the Policy Board …

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Pakistan’s foreign debt doubled over past five years

ISLAMABAD-UNS- The government may tell you otherwise but Pakistan’s foreign debt has doubled over the past five years. Pakistan’s debt stood at Rs 13,626 billion in March 2013. Fast forward four-and-a-half years and Pakistan’s debt has increased to Rs 26,815 as of December 2017. The …

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New challenge to USD: SBP allows Bank of China to settle transactions in yuan

KARACHI -UNS : The State Bank of Pakistan granted Bank of China permission to establish yuan settlement and clearing mechanism in a major step to encourage trade with Chinese currency and eventually in the respective local currencies. This move could further bolster the size of …

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Pakistan, Kuwait Fund ink $15mn supplementary loan agreement

ISLAMABAD: Pakistan and the Kuwait Fund have signed Supplementary Loan Agreement of Kuwaiti Dinar 4.5 million (equivalent to US$ 15 million) for financing Golen Gol Hydropower Project. The State of Kuwait has already been co-financing this Project with an amount of K.D 11.00 million (equivalent …

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Motiwala lauds PM’s efforts for peace,economic prosperity between Pakistan,Afghanistan

KARACHI -UNS- Chairman Pakistan Afghanistan Joint Chamber of Commerce & Industry (PAJCCI), Zubair Motiwala acknowledged Honorable Shahid Khaqan Abbasi, Prime Minister of Pakistan for his efforts to ease strained relations between the two countries and revive a push for peace talks. Motiwala established that at …

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Sanjrani for Minimizing Trade Imbalance Between Pakistan and Japan

ISLAMABAD -UNS- Muhammad Sadiq Sanjrani, Chairman Senate of Pakistan has said that Pakistan attaches great importance to its relations with Japan and desires to further expand the friendly ties in different sectors for mutual benefit of the people of two sides. He reiterated need to …

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Pak, China sign two MoUs for gas pipeline & oil refinery

BEIJING -UNS : Pakistan and China have signed a Memorandum of Understanding (MoU) for North-South Gas Pipeline to ensure supply of affordable gas in areas currently showing increased demand for power generation and industrial use. Prime Minister Shahid Khaqan Abbasi also witnessed the signing of …

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Tax reforms package, amnesty scheme for undeclared assets announced

ISLAMABAD -UNS – Prime Minister Shahid Khaqan Abbasi on Thursday while announcing an amnesty scheme for the non-taxpayers said that the politicians could not take advantage of the scheme. Addressing a press conference in Islamabad on Thursday, he said that paying tax was the duty …

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