Category: Uncategorized

Pakistan’s Foreign Minister Shah Mahmood Qureshi said that China will provide 0.5 million doses of Covid-19 vaccine as a “gift” to Pakistan by end January, and has also agreed to manufacture the vaccine in Pakistan.    

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Foreign direct investment (FDI) into Pakistan dipped 30% to $952.6 million in the first six months, 1HFY21, (last: $1.3 billion). Net FDI from China decreased to $358.9 million in July-December FY2021 (last: $395.8 million), $44.1 million from the Norwegian firms in July-December FY2021 (last: $288.5 million). Power sector remained the major recipient of the inflows…

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The unholy alliance of the Indian establishment and India media were once again exposed, when a leading Indian anchor’s WhatsApp messages were leaked, indicating that he was informed of any Governmental decisions and he was required to propagate it accordingly.   It has started to emerge that Pakistan’s assertion that the Pulwama attacks were false…

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Banking sector deposits in Pakistan in calendar year 2020 increased by 22% to touch 18-year highs of Rs. 17.9 trn. They rose by Rs. 3.2 trn.   Loan advances rose by 10% of the deposits to touch Rs. 332 bln. Banks invested Rs. 3.12 trn in T-bills and Pakistan Investment Bonds, taking the total investment…

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Pakistan’s textile exports for December 2020 increased by 22.7% to touch a historic high of $1.4 bln (last: $1.14 bln).   For the period July to December, textile exports increased by 7.8% to $7.4 bln (last: $6.9 bln). Sub sectors that contributed to the growth were: knitwear, increased to $1.85 bln (last: $1.59 bln), bedwear…

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Pakistan’s Federal Minister for Energy Omar Ayub Khan said that the power supply to most parts of the country was restored, following a countrywide power breakdown on 6th January due to a sudden drop of frequency in national grid from 50 to 0. He added that an inquiry had been launched so as to determine…

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Remittances coming into Pakistan from workers’ abroad, for the 1HFY21 increased 25% to touch a historical level of $14.2 billion (last: $ 11 billion) . This is the highest half yearly growth since FY07.   This strong growth is attributed in part to the improvement of formal channels and related incentives in their usage.

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The Apex Committee on Economic Outreach was informed that an extensive mapping exercise about export potential of goods and services was carried out by the National Security Division, in consultation with relevant government ministries that identified additional exports potential of US$31 billion.  

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GCC countries especially, Saudi Arabia, restored full relations with Qatar, after a landmark summit, ending a damaging rift that erupted in 2017.   The four nations, led by Saudi Arabia, had cut ties and transport links with Qatar in June 2017, alleging it was close to Iran and backed radical anti GCC groups. Qatar had…

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Pakistan’s Consumer Price Index-based inflation increased 8% in December on a yearly basis.   The Pakistan Bureau of Statistics (PBS) in its reports stated that the following commodities’ prices rose: eggs 15.7%, spices 6.9%, butter 6.8%, dry fruits 4.6%, vegetable ghee 3.1%, cooking oil 2.2%, and fish 1.5%.   In their reports they stated that…

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Pakistan’s Federal Board of Revenue (FBR) provisionally collected tax revenue of Rs. 2.204 trillion during July-December of FY21.   This is against the assigned target of Rs. 2.21 trillion, reflecting a shortfall of Rs. 6 billion. Last year the collection for the same period was Rs. 2.1 trillion.   Income tax collection for the same…

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Pakistan’s Prime Minister announced an extension in the tax amnesty scheme for the construction industry till June 2021 and the fixed tax regime to 31 December 2021. He termed it a “New Year’s gift” for the construction industry.   The PM said in an address to the nation that on the demand of the construction…

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