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Nineth round of political talks between Pakistan and the EU centers on trade and security

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In their ninth round of political dialogue, which took place here on Wednesday, Pakistan and the EU discussed all aspects of their bilateral relationship, with a particular emphasis on the Strategic Engagement Plan (SEP), trade and development cooperation, security, climate action, migration, and mobility.

The team from Pakistan was led by Foreign Secretary Muhammad Syrus Sajjad Qazi, while Enrique Mora, Deputy Secretary General of the European External Action Service, represented the EU.

Significant local and international happenings were also covered.

The two parties expressed satisfaction with the positive direction of the relationship and decided to keep working to expand and deepen bilateral ties between Pakistan and the EU in all areas of shared interest. They will do this by routinely convening institutional mechanism meetings and carrying out follow-up tasks.

The two sides acknowledged the significance of bilateral relations between Pakistan and the EU, concurring that frequent high-level meetings have given the relationship new life and emphasized the need for close communication and collaboration in the face of a geopolitical environment that is changing quickly.

In order to bring about diversification and sustainability in trade ties between Pakistan and the European Union, the Foreign Secretary emphasized the need for deeper collaboration with key stakeholders on both sides, acknowledging GSP Plus as a successful model of trade for development and mutually beneficial cooperation.

The two parties also decided to investigate fresh prospects under the EU’s major initiatives, Horizon Europe and the Global Gateway Strategy.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Business

Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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