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China-Pakistan Joint Venture Approved by PM Shehbaz To Transfer Industries To Pakistan

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6 months ago

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The partnership between Chinese and Pakistani businesses to transfer Chinese industries to Pakistan has been approved by Prime Minister Muhammad Shehbaz Sharif.

Today, the Prime Minister of Pakistan presided over the crucial Investment Board meeting in Islamabad and declared that the government’s top objective is to encourage both foreign and domestic investment in Pakistan.

The government, he claimed, is doing all within its power to create an atmosphere that is conducive to commerce and investment.

Throughout his tour to China, the Prime Minister gave concerned officials instructions to provide a thorough report on the development of Memorandums of Understanding between Chinese and Pakistani businesses in Shenzhen.

Amidst the events that have transpired since his visit to China, he also directs officials to amend the one-stop shop statute for special economic zones.

Relocating China’s textile, leather, footwear, and other industries to Pakistan, according to Shehbaz Sharif, is quite likely.

At the meeting’s briefing, the Secretary of the Investment Board stated that action is being conducted to relocate Chinese industry to Pakistan.

He stated that the establishment of the Islamabad Business Facilitation Center and the draft ease of doing business act are being handled by Chinese experts, who will shortly be submitted to the Cabinet Committee on Legislative Affairs.

Senior government officials, including Prime Minister’s Coordinator Rana Ehsan Afzal, Federal Minister for Petroleum Dr. Mossadegh Malik, Federal Ministers for Finance and Revenue Muhammad Aurangzeb, Abdul Aleem Khan, Federal Minister for Commerce, and Prime Minister’s Coordinator.

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

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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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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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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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