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Huawei is invited by PM Shehbaz to invest in Pakistan’s taxes and safe city sectors.

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7 months ago

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The playing of national anthems and his tour of the Exhibition Center were the next events that took place after Huawei Chairman Liang Hua welcomed him to the headquarters.

Briefing the prime minister on Huawei’s global operations, including those in Pakistan, the chairman conveyed his strong desire to invest in the many sectors of the nation.

Additionally, he received briefings on a variety of topics, such as artificial intelligence, digital banking, e-governance, and phone.

While on a five-day visit to China, Prime Minister Shehbaz said he was impressed by Huawei’s creative operations and encouraged the business to expand its investment in Pakistan.

The Prime Minister thanked Huawei for its Safe City initiatives in Pakistan and extended an invitation to the business to invest in these projects, especially in the cities where CPEC projects were being carried out, during a bilateral discussion he subsequently had with Chairman Liang Hua and his group.

He briefed the chairman of the company on the measures the government has made to encourage investment and facilitate doing business in the nation.

In announcing the government’s top priorities for digitizing government offices, the prime minister stated that companies such as Huawei had enormous opportunities to invest in artificial intelligence, e-governance, and tax systems.

Furthermore, he extended an invitation to the chairman of Huawei to visit Pakistan and contribute to the adoption of contemporary technologies in the agriculture sector.

A framework agreement between Huawei and Pakistan’s Ministry of Science and Technology was later signed by the prime minister, who also witnessed the training of approximately 200,000 young people in artificial intelligence and information technology at no cost. In addition, the business would help Pakistan with the creation of Safe Cities, e-governance, and economic digitalization.

In addition, the prime minister and his entourage were given a luncheon reception by the chairman of the corporation.

Following his visit to Huawei’s headquarters, the prime minister said on X, “I was impressed by the most recent innovative technologies that are transforming the world and our way of living.”

They talked about how Pakistan and Huawei may work together to create a better, more digital future throughout the discussion.

A new, inclusive, and long-lasting digital revolution for Pakistan is something the prime minister promised to pursue.

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In interbank trade, the Pakistani rupee beats the US dollar.

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6 days ago

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In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

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Phase II of CPEC: China-Pakistan Partnership Enters a New Era

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1 week ago

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The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.

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Business

The inflation rate in Pakistan dropped to its lowest level.

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1 week ago

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On December 2, core inflation as determined by the Consumer Price Index (CPI) significantly slowed, falling to 4.9% in November 2024 from 7.2 percent in October 2024.

The CPI-based inflation rate for the same month last year (November 2023) was 29.2%, according to PBS data.

Compared to a 1.2% gain in the prior month, it increased by 0.5% month over month in November 2024.

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