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President Zardari sought improved US economic ties

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9 months ago

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In addition to looking into joint venture options across a range of industries, President Asif Ali Zardari has emphasized the necessity of boosting trade and investment with the US.

According to a news statement, the president made these comments while speaking with US Ambassador to Pakistan Donald Blome, who paid him a visit at the White House.

According to President Zardari, US businesses ought to be urged to provide creative business concepts and investments to the Pakistan Stock Exchange in order to boost the nation’s economy.

The president stated that further strengthening of Pakistan’s extensive and well-established relationship with the United States, spanning more than seven decades, was necessary.

According to Zardari, Pakistan’s primary objective is to solve difficulties related to security and the economy and get its economy back on track.

The president also emphasized at the meeting that Pakistan was one of the nations most susceptible to the negative effects of climate change.

He informed the envoy that Pakistan aimed to enhance its farming industry by implementing contemporary irrigation methods to preserve water and lessen dependence on flood irrigation.

According to Ambassador Donald Blome, commerce and investment, agriculture, renewable energy, security, and climate change are areas where Pakistan and the US might strengthen their bilateral cooperation.

According to him, the US has finished the Sindh Basic Education Programme, which aims to create schools that are robust to climate change and bolster Pakistan’s educational system.

In addition, he complimented the president for taking up his position a second time.

DAR MEETS BLOME

Ishaq Dar, the foreign minister, also met with the US ambassador.

The two parties talked about bilateral relations during the meeting, particularly American cooperation and economic changes.

A representative for the US Embassy stated that the two leaders discussed commerce and investment, regional security, and the framework of the US-Pakistan Green Alliance.

The ambassador reaffirmed his dedication to collaborating with Pakistan, underscoring that the US places a high premium on Pakistan’s security and prosperity.

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Business

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

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5 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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Business

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

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6 days 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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6 days 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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