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The massive Chinese EV company indicates interest in investing in Pakistan

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9 months ago

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The biggest electric car manufacturer in China, BYD, has indicated interest in investing in Pakistan to produce cutting-edge electric vehicles with the help of Mega Conglomerate Private Limited, a local partner.

This occurs while Pakistan is implementing energy-efficient transportation methods and lowering its carbon footprint to promote cleaner air.

Through this program, Pakistan’s auto sector would develop and consumers will have easier access to green products.

Unmute BYD will produce electric cars locally in Pakistan, allowing the country to export cars with right-hand drive (RHD).

The Special Investment Facilitation Council’s efforts to draw in foreign investment are greatly aided by BYD’s investment.

Prior to this, China and Pakistan decided to form a Working Group (WG) on five new economic corridors as part of the second phase of the China-Pakistan Economic Corridor (CPEC), in accordance with the Planning Ministry’s previously developed 5Es framework.

A press release stated that the agreement was made during a meeting that lasted more than an hour here at the Planning Ministry between Chinese Ambassador to Pakistan Jiang Zaidong and Federal Minister of Planning, Development, and Special Initiatives Professor Ahsan Iqbal.

“While opting to form a working group on five new economic corridors, including the Corridor of Job Creation, Corridor of Innovation, Corridor of Green Energy, and Inclusive Regional Development,” the parties “agreed to expedite phase 2 of the CPEC” during the meeting.

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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4 days ago

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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4 days ago

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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4 days ago

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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