Latest News

The PM informs the cabinet that the UAE has rolled over Pakistan’s $2 billion debt.

Published

2 days ago

Farwa

On Tuesday, Prime Minister Shehbaz Sharif said during a federal cabinet meeting that the United Arab Emirates (UAE) had declared a rollover of $2 billion in debt that Pakistan is supposed to repay this month.

The news comes after Prime Minister Shehbaz and UAE President Sheikh Mohamed bin Zayed Al Nahyan met one-on-one in Rahim Yar Khan. The prime minister informed the cabinet that the discussion was “positive and constructive,” with both leaders talking about enhancing investment cooperation and fortifying bilateral ties.

During the cabinet meeting, the premier expressed gratitude to the UAE president for the gesture, highlighting its significance for Pakistan’s economic stability in televised remarks. He said Sheikh Nahyan promised that his nation would not lag behind in this area and pledged to invest in Pakistan.

Sheikh H.H. H.E. Muhammad Shehbaz Sharif, Prime Minister of the friendly Islamic Republic of Pakistan, meets with Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, in Rahim Yar Khan, Pakistan, where they talk about ways to collaborate and cooperate together. clJ87KY5TL in a picture

— UAE Embassy PK January 5, 2025 (@uaeembassyisb)

“The UAE president reiterated his country’s commitment to enhancing the longstanding partnership with Pakistan and expressed a desire to swiftly implement investment projects,” said the president. Additionally, he expressed gratitude to the visiting dignitary for announcing the debt rollover.

Because of everyone’s efforts, PM Shehbaz emphasized that Pakistan’s economy was headed toward stability. He emphasized the government’s resolve to turn Pakistan into a thriving country and restore its former splendor, stating, “But this needs a journey of sacrifice, blood, sweat, and nothing short of that.”

In order to improve exports and trade, he said, measures to lower the cost of electricity were necessary when the indigenous economy program was launched. Additionally, he announced that a “comprehensive” conference would be held this week to discuss cutting electricity prices, which he organized last week with the participation of regional governments.

Shehbaz praised the recent surge in textile exports and emphasized the importance of diversification into non-traditional industries and export-led growth. He emphasized the importance of small and medium-sized businesses (SMEs) for economic development and brought up a recent meeting to conclude the SMEDA Board, where some significant decisions were also made. January 15 is the date of another meeting on the subject, he continued.

Later this month, Indonesian President Prabowo Subianto is expected to visit Pakistan, where the two countries are expected to talk about deepening and integrating their bilateral cooperation, the PM shared. Additionally, the two countries will look at potential collaboration in the import of edible oil and the export of halal rice and meat.

A deputy commissioner and others were hurt in a recent fire incident in Lower Kurram, which the prime minister denounced as an attempt to undermine the peace deal. In addition to expressing hope for the victims’ recovery, he reaffirmed the government’s commitment to fighting people smuggling, a practice that has resulted in a huge death toll and damaged Pakistan’s standing internationally.

“To address this serious issue, regular meetings are being held with the Interior Ministry and other relevant departments,” he continued.

Business

Pakistan’s gold price continues to rise.

Published

18 hours ago

Farwa

As a result of worldwide market trends, the price of gold in Pakistan rose even further on Wednesday.

The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) released data showing that the price of 24-karat gold per tola rose by an additional Rs1,000 in the local market, reaching Rs277,000.

The cost of 10 grammes of 24-karat gold also increased by Rs858, reaching Rs237,483.

On Wednesday, the price of gold increased by an extra $10 on the global market, hitting $2,652 per ounce with a $20 premium.

In the local market, the price of silver stayed steady at Rs3,350 per tola.

Latest News

Imran Khan’s release is not under pressure, according to Rana Sanaullah.

Published

18 hours ago

Farwa

There is no outside pressure for Imran Khan’s release, according to Rana Sanaullah, Prime Minister’s adviser on political affairs.

Though their words imply otherwise, Rana Sanaullah stated at a press conference in Islamabad that they had requested the PTI present their requests in writing during the initial round of negotiations.

He stated that their goal was to start a national dialogue amongst political parties, but the remarks made by PTI officials and the tweets sent by Imran Khan show that they are not interested in having direct conversations.

He emphasised that the discussions between Sher Afzal Marwat and Ali Amin Gandapur over Aleema Khan were significant. Aleema Khan’s earlier allegations of trying to poison Imran Khan while he was incarcerated also sprang to mind.

“Those around Imran Khan are unpredictable because they can go to any length,” he maintained.

The adviser claimed that PTI uses social media propaganda to portray itself as a powerful political organisation. He gave Imran Khan his word that all the facilities outlined in the jail handbook are being delivered. He did, however, condemn Imran Khan’s position on the state and institutions, which is clear to all.

Rana Sanaullah charged the PTI with continuously launching anti-national campaigns on social media. He gave the example of November 26, when PTI allegedly disseminated misinformation using pictures of Palestinian martyrs.

Rana Sana went on to say, “PTI impedes Pakistan’s economic development and seeks political instability in the nation.”

He reaffirmed that there was no pressure for Imran Khan’s release when asked a question. Discussions are anticipated to begin after Speaker Ayaz Sadiq returns from his trip abroad, which caused the postponement.

According to Rana Sanaullah, Imran Khan would probably be met again by the PTI’s negotiation committee. Prior to this, a meeting was scheduled, but it was subsequently deemed improper. The administration had not proposed to move Imran Khan to Bani Gala, he explained.

Latest News

PM Shehbaz says he is prepared to meet with everyone to discuss the growth of the nation.

Published

18 hours ago

Farwa

According to Prime Minister Shehbaz Sharif, he is prepared to meet with everyone to discuss the nation’s economic progress.

He was addressing a ceremony held in Pakistan Stock Exchange, Karachi on Wednesday. The PSX’s outstanding 2024 performance was commended by the prime minister.

The economy of Pakistan is getting better every day. “To visit the PSX today is an honour for me,” Shehbaz Sharif remarked.

He remarked during the ceremony that the government’s primary objective is to transform macroeconomic stability into economic growth.

The prime minister also praised the newly introduced “Uraan Pakistan” initiative.

He said he will be sitting with the financial experts of Karachi and other cities for the economic development of the country.

He expressed his anticipation of receiving proposals to implement an export-led growth agenda and exploit the full potential of natural resources.

According to the prime minister, the privatisation process will proceed in a completely open way.

“In recent months, Pakistan has gained economic stability. The prime minister stated, “We are attempting to raise the interest rate to 6 percent in order to encourage investment.”

Also in attendance were Sindh Governor Kamran Tesori, CM Murad Ali Shah, Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, and Deputy Prime Minister Ishaq Dar.