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SBP Sees Rise in Economic Activity & CA Deficit
The State Bank of Pakistan (SBP) sees a rise in economic activity & the CA Deficit. This was revealed in their 3rd quarterly review, that there was growing evidence the economic recovery gathered further momentum during the 3rd quarter of FY21. The growth in the industrial sector was mainly due to LSM, in the services…
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Blaming Pakistan is Unfair: Pakistan to Afghanistan
Pakistan‘s Prime Minister, said in his address that blaming Pakistan is unfair. He said this while addressing the conference on āCentral and South Asia Regional Connectivity, Challenges and Opportunitiesā held in Uzbekistan. Earlier the President of Afghanistan had blamed Pakistan for its issues. Pakistan’s PM asked Afghanistan to consider Pakistan as a āpartner of…
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Pakistan Services Trade Deficit Falls
Pakistan Services Trade Deficit for the FY21 fell by 43% due to lower international travel payments in COVID. The services trade posted a $1.88 billion deficit during FY21 compared to $3.32 billion in FY20, depicting a decline of $1.441 billion. The improvement in services trade also came from an import dip of 11%…
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Pakistan PM Visits Uzbekistan To Enhance Relations
Pakistan‘s PM visited Uzbekistan to enhance relations in all spheres. He said that Pakistan and Uzbekistan sharing the same objective of lifting their people out of poverty, building strong trade and economic relations and strong mutual cooperation. The Pakistan PM said in a joint press conference with Uzbek President Shavkat Mirziyoyev, āUzbekistan can benefit…
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UAE Opens Embassy in Israel
The UAE opened its Embassy in Israel, marking a ‘new beginning’ for itself and the region. The UAE embassy is in Tel Avivās new stock exchange building, which is in a central business district. The UAE has become the third Arab country to recognize Israel. At the ceremony, attended by new Israeli President Isaac…
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Record Remittances Come into Pakistan for FY21
Record remittances came into Pakistan for FY21 rising by 27%, touching $29.4 billion (last: $23.1 billion). This is is the fastest rate of growth since FY04.
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Car Sales In Pakistan Increase 57% for FY21
Car sales in Pakistan increased 57% for FY21 to touch 151,182 units. This has happened despite COVID waves happening relentlessly. This was reported by the Pakistan Automotive Manufacturers Association (PAMA), which appeared bullish for FY22 as well. This growth is good based on the years that COVID spread, with robust growth which is expected…
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Pakistan Cannot Dictate Us: Taliban
The Afghan Taliban spokesman Suhail Shaheen said, while talking to Pakistani media, ‘Pakistan cannot dictate us’. He said that the Taliban welcome Pakistan to help them arrive at a negotiated settlement with all concerned in Afghanistan, however they will not be dictated.
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US Hands Over Command To Afghan Government
The US handed over command to the Afghan Government in a ceremony in Kabul. US General Austin Scott Miller ā the top US general in Afghanistan relinquished his command to the government. In addition to that, General Miller handed over his duties to two US generals ā one will oversee US military action from…
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Indian and Other Embassies Evacuate From Afghanistan
India became the latest country to evacuate its Embassy from Afghanistan, as the security situation was reportedly deteriorating. This ‘deterioration’ is termed such, with the Taliban gaining ground following the withdrawal of US forces. 50 Indian personnel, including six diplomats, were taken back to India. The Indian foreign ministry said staff had been temporarily…
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Pakistan Uzbekistan Trade Agreement
The Pakistan – Uzbekistan Trade Agreement is to be signed on 15th July in Tashkent. This will allow both countries in transshipment of their goods. This signing of the Pakistan Uzbekistan Trade Agreement, which is a Transit Trade Agreement (“TTA”), is to be witnessed by Pakistan’s Prime Minister. The TTA will allow passage of…
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FBR Launches Export Facilitation Scheme
The FBR launched an Export Facilitation Scheme, which is meant to facilitate exporters in their filings, approvals and formalities. This initiative has merged all the various schemes into a unified procedure, making it easier for an exporter to comply with requirements. The FBR export facilitation scheme was was launched via SRO 902(I)/2021 on 9th…
