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China-Pakistan Joint Venture Approved by PM Shehbaz To Transfer Industries To Pakistan

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The partnership between Chinese and Pakistani businesses to transfer Chinese industries to Pakistan has been approved by Prime Minister Muhammad Shehbaz Sharif.

Today, the Prime Minister of Pakistan presided over the crucial Investment Board meeting in Islamabad and declared that the government’s top objective is to encourage both foreign and domestic investment in Pakistan.

The government, he claimed, is doing all within its power to create an atmosphere that is conducive to commerce and investment.

Throughout his tour to China, the Prime Minister gave concerned officials instructions to provide a thorough report on the development of Memorandums of Understanding between Chinese and Pakistani businesses in Shenzhen.

Amidst the events that have transpired since his visit to China, he also directs officials to amend the one-stop shop statute for special economic zones.

Relocating China’s textile, leather, footwear, and other industries to Pakistan, according to Shehbaz Sharif, is quite likely.

At the meeting’s briefing, the Secretary of the Investment Board stated that action is being conducted to relocate Chinese industry to Pakistan.

He stated that the establishment of the Islamabad Business Facilitation Center and the draft ease of doing business act are being handled by Chinese experts, who will shortly be submitted to the Cabinet Committee on Legislative Affairs.

Senior government officials, including Prime Minister’s Coordinator Rana Ehsan Afzal, Federal Minister for Petroleum Dr. Mossadegh Malik, Federal Ministers for Finance and Revenue Muhammad Aurangzeb, Abdul Aleem Khan, Federal Minister for Commerce, and Prime Minister’s Coordinator.

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Key suspect in Ameer Balaj Tipu murder case detained in Oman

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An important suspect in the murder case of Amir Balaj has been taken into custody in Oman. Authorities in Oman captured the wanted man, Bilawal, and took him to Lahore.

The FIA official stated that the suspect had gone overseas last year in order to avoid arrest and that a case had been filed against him in Lahore.

Bilawal was the third gunman in the Amir Balaj murder case, according to police confirmation.

Context

The horrific incidents that resulted in Ameer Balaj Tipu’s premature death took place during a wedding ceremony in a residential community close to the Thokar Niaz Beg district of Lahore.

Based on initial inquiries, the armed and determined attacker blatantly attacked Balaj Tipu, who had recently joined the Pakistan Muslim League-Nawaz (PML-N), killing him instantly.

Two more people suffered severe injuries in the ensuing crossfire, adding to the shock and tragedy of the event.

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Vawda’s allegations of death threats about the purchase of a vehicle are denied by the FBR association.

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Regarding Senator Faisal Vawda’s claims that Federal Board of Revenue (FBR) personnel had threatened his life, the Inland Revenue Service personnel Association has replied.

The group denies the allegations, claiming that none of its officers threatened anyone, and denounced the attempt to discredit them.

The statement emphasized that government car purchases were governed by regulations and urged Vawda to back up his claims with proof. It also raised fears that irrational remarks were hurting officers’ morale and would interfere with the tax collecting process.
The committee made the decision to forward the threatening officers’ case to the Federal Investigation Agency (FIA) for additional examination. Along with calling for a high-level investigation, the FBR Chairman pledged to prosecute individuals culpable for the threats.

The members of the Finance Committee urged that the case be sent to a criminal body such as the FIA. The committee has previously voiced its disapproval of the FBR’s acquisition of more than 1,000 automobiles at a cost of billions of rupees.

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Over 114,000 points, the PSX-100 index soars.

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The benchmark KSE-100 Index jumped above the 114,000-point level during trade, indicating a strong bullish trend on the Pakistan Stock Exchange (PSX).

In one update, the index increased by more than 1,590 points to 114,796 points, and in another, it increased by 1,426 points to 114,632 points. In the third trading session, the index increased by 1,030-points to 114,230 points.

Stockbrokers boosted investor confidence by attributing this spike to listed businesses’ solid financial reports. The increasing momentum was further fueled by increased buying activity in industries like banking, energy, cement, and pharmaceuticals.

The market’s performance continues to inspire optimism among analysts, who point to strong corporate earnings and economic indicators as the main drivers of the bullish trend.

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