In finance, we will cover activities associated with banking, leverage or debt, credit, capital markets, money, and investments. Basically, everything that has to do with Pakistan’s economy, financing needs, finance news, and a lot more.
The pandemic had affected many businesses and forced them to shut down. Remote work and e-learning have increased a lot of freelancing opportunities, which contributed to the increase in information and communication (ICT) exports. The increase was in software consultancy, call centers, and telecom services. The upward trend in IT exports is a good sign, as it will increase the foreign exchange.
Though it is a co-working platform, it provides a variety of other services, which makes it much more than just a co-working platform. Since its establishment in 2019, COLABS has evolved from being a co-working platform to incorporate tools to take the business to the next level.
According to a senior official of Gwadar Port Authority (GPA), the Gawadar Free Zone Phase I has been completed and functional, whereas Phase II is underway. This will help to generate revenue of $10 billion yearly through the economic activities in Gawadar Port.
The highlights of the meeting included potential trading opportunities, the issues of regional and global impacts, and the chances of promoting bilateral trade in various fields between the two countries.
One of the largest copper and gold mines in the world is in Chaghi District, Balochistan. “It is part of the Tethyan Magmatic Arc, extending through central and southeast Europe (Hungary, Romania, Bulgaria, Greece) Turkey, Iran, and Pakistan through the Himalayan region into Myanmar, Malaysia, Indonesia, and Papua New Guinea.” They are remnants of one of many eroded volcanic centers in the Chagai volcanic chain of mountains, which runs in an east-west line across Balochistan between the Quetta-Taftan Line railway and the border with Afghanistan.
The Fintech industries deal with technology related to finances. Since the term itself is quite broad, it will help to give you an example. Consider this. Every time you draw cash from an ATM, used an Easypaisa service to send money to your family, or transfer money through your HBL app, then you are also utilizing the services of the Fintech industry.
The Saudi Ambassador, Nawaf bin Said Al-Malki, met the Board of Investment leadership. They discussed trade potential between the countries and tap opportunities, which could enhance bilateral relations.
A meeting under the Pakistan-United States Trade and Investment Framework Agreement (TIFA) was held in Islamabad. The Assistant United States Trade Representative (AUSTR) for South and Central Asia, Christopher Wilson visited on this eve. Federal Secretary of Commerce, Muhammad Sualeh Ahmad Faruqui thanked him for visiting. They agreed to ‘reinvigorate and revitalize trade and business relationships to enhance bilateral trade and investment.’
The prices had gone by Rs. 6 per litre which has caused discomfort amongst the public. PM in his national address, announced that ‘his government would cut petrol and diesel prices by Rs. 10 per liter and electricity prices by Rs. 5 per unit. He also promised that there would be no further increase in the prices until the 2023-2024 budget.
Pakistan is trying to expand its wings diplomatically to strengthen the ties across the region. Gulf states have been of utmost importance. Pakistan has cordial relationships with all of them. Recently a seminar at Islamabad Policy Research Institute (IPRI), was held to review the Pak-Gulf Relations.