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A steering committee for FBR reforms was formed by PM Shehbaz.

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9 months ago

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Details reveal that PM Shehbaz will lead the 10-person steering group, and a formal announcement has been made in this respect.

The prominent committee will include the Federal Ministers of Law, Industry, Commerce and Production, and Finance.

The Steering Committee, which will oversee the execution of the FBR reform plan, will get secretarial support from the Finance Division.

Prior to this, Shehbaz Sharif, the prime minister, gave the relevant authorities instructions to make sure that all projects for the stability of the national economy were carried out.

See also: Shehbaz Sharif, the PM, completes the five-year economic roadmap

While presiding over a high-level meeting in Islamabad to discuss the five-year economic blueprint for the nation’s development, the premier gave these instructions.

A five-year economic strategy was given during the summit, with an emphasis on lowering inflation, addressing poverty, and creating jobs.

The prime minister declared that before putting this plan into action, all relevant parties from various economic sectors ought to be consulted.

He placed a strong emphasis on taking urgent action to advance technology, agriculture, livestock, foreign investment, and both small and large-scale companies.

Shehbaz Sharif expressed optimism that the country’s economy will stabilize and move toward development over the course of the next five years.

According to the prime minister, innovation and modernization across a range of industries, particularly agriculture, would raise income and yield per acre. He declared that state-owned businesses that are losing money will be sold off first.

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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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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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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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