Day: April 16, 2024

A spokesperson of Finance Ministry has stated the prices of petrol and diesel have been increased in view of the increase in their prices in the international market.

The spokesperson, in its statement, mentioned that the price of petrol increased by 3.82 dollar per barrel and that of diesel by 4.30 dollar per barrel during the last fifteen days.

The spokesperson said the prices of petroleum products depend on the price fluctuations in the global market and the exchange rate.

The spokesperson said the prices of petroleum products in the global market also increased due to uncertainty in the Middle East, expressing that the end of this crisis will bring relief.

Source: Radio Pakistan

The Khyber Pakhtunkhwa government has announced the cancellation of matriculation annual exam papers in Chitral from Thursday to Saturday due to rainfall.

This decision was made during a meeting chaired by Education Minister Faisal Khan Tarakai in Peshawar today. The meeting also agreed to reschedule these papers for a later date.

It is important to note that the upcoming examinations will be held as per the original schedule in the rest of the districts. The Education Minister directed all boards to promptly assign examination staff duties and ensure that security measures and other arrangements are fully prepared.

He also warned of taking strict action against anyone involved in leaking board papers.

Amidst the recent heavy rains in Khyber Pakhtunkhwa, the Provincial Disaster Management Authority (PDMA) has reported that at least 21 individuals have tragically lost their lives in various incidents across the province.

According to the PDMA, the recent rain spell led to 330 incidents of roof and wall c
ollapses, destroying 53 houses and damaging another 277 structures. Furthermore, the PDMA reported that 32 individuals sustained injuries in various incidents across the province.

Source: Pro Pakistani

Pakistan and Saudi Arabia have finalized a bilateral implementation mechanism to closely coordinate and execute investment related matters at the functional level.

The understanding to this effect came during Pakistan-Saudi Arabia Investment Conference held in Islamabad today.

The high-level Saudi delegation led by Saudi Foreign Minister Faisal bin Furhan A.F. Al Furhan Al Saud and Special Investment Facilitation Council attended the Saudi Arabia-Pakistan Investment Conference.

Foreign Minister Ishaq Dar emphasized the deep-rooted ties and mutual strategic interests between Pakistan and Saudi Arabia.

He highlighted the significance of enhanced bilateral strategic and economic partnership and the crucial role of Saudi investments in nurturing this relationship.

He explained how Pakistan through the SIFC platform aim to streamline investment processes and ensure rapid decision-making, fostering a flourishing investment-friendly environment in Pakistan.

The Foreign Minister showcased Pakistan’s abundant o
pportunities in agriculture, IT, and mining sectors, inviting Saudi investors to engage in mutually beneficial partnerships.

The Foreign Minister expressed confidence in the strengthened bonds between the two countries, envisioning significant economic growth and lasting benefits.

He concluded with a call for constructive engagement and collaboration towards mutual prosperity and development.

The SIFC officials gave comprehensive briefings encompassing the potential and investment opportunities in key sectors of Pakistan’s economy.

Both sides held exhaustive deliberative sessions at functional level to crystallize investment opportunities in Pakistan.

The Saudi side expressed great significance and interest in the improving investment ecosystem in Pakistan.

They appreciated SIFC’s role in amicable resolution of KSA’s legacy investment related issues, and showed keen interest to invest in key sectors of Pakistan.

The Pakistan side assured the Saudi side of maximum support and facilitation in fast-tracki
ng the Kingdom’s prospective multibillion dollars investments in Pakistan.

Source: Radio Pakistan

Prime Minister Shehbaz Sharif says discussions with the Saudi delegation will usher in a new era of close cooperation, and in coming weeks and months we will be able to sign agreements worth billions of dollars.

Speaking at the dinner hosted in the honor of visiting Saudi delegation in Islamabad tonight, he expressed satisfaction over the progress on areas of interests from both sides.

The Prime Minister also expressed hope that the Saudi Crown Prince will visit Pakistan on the occasion of signing agreements between the two brotherly countries.

He thanked the Crown Prince of Saudi Arabia for sending a high level delegation led by Foreign Minister Faisal bin Farhan Al-Saud to fast-track the Saudi investment in Pakistan.

Speaking on the occasion, Faisal bin Farhan Al-Saud thanked Pakistani side for warm reception and hospitality.

He also thanked for the cooperation that would initiate a new phase of partnership and brotherhood through tangible economic cooperation that can deliver for both the countries.

Source: Radio Pakistan

Minister for Finance Muhammad Aurangzeb says the United States is the largest trading partner of Pakistan and it has always supported us in terms of investment.

In an interview with a foreign news agency, he said it is always be a very critical relationship for Pakistan.

The Minister said Pakistan has initiated discussions with the International Monetary Fund over a new multi-billion dollar loan agreement to support its economic reform program.

He said the market confidence and the market sentiment in Pakistan is in much better shape during the current fiscal year.

Muhammad Aurangzeb said we have initiated the discussion with the Fund to get into a larger and an extended program.

Turning to China-Pakistan Economic Corridor project, he said a lot of investment, especially in infrastructure, came through CPEC.

The Minister said there is a very good opportunity for Pakistan to enhance trade with countries like Vietnam.

He said we have already a few examples of that already working. But what we need to do
is to really scale the trade up.

Turning to privatization programme of State Owned Enterprises, the Minister said we will get to know in the next month with respect to interest from prospective bidders particularly about the national airline.

He said our desire is to go through with that privatization and take it through the finishing line by the end of June.

The Minister expressed the confidence that if the PIA privatization goes well for the government, other companies could soon follow it.

Source: Radio Pakistan