EX PM Imran Khan #1 Choice for experts to stabilise Pakistan&#8217;s economy: Bloomberg survey

ISLAMABAD: On Tuesday, Pakistani Commerce and Interior Minister Dr. Gohar Ejaz held discussions with Saudi Arabia’s Ambassador to Pakistan, Nawaf bin Said Al-Malki, expressing a commitment to fortify business relations. This move precedes a forthcoming visit to Riyadh by a delegation comprising prominent Pakistani industrialists. The enduring rapport between Pakistan and Saudi Arabia, underscored by the presence of approximately 2.5 million Pakistani expatriates in the Kingdom, was emphasized. This expatriate community contributes significantly as the largest source of foreign remittances to Pakistan. Recent extensive visits by high-ranking Pakistani officials to Saudi Arabia have aimed at enhancing trade ties and fostering employment opportunities for expatriates. Following the meeting, Dr. Gohar's office stated, "The meeting affirmed the intention to enhance business-to-business relations between Pakistan and Saudi Arabia." Dr. Gohar Ejaz highlighted investment prospects in Pakistan's steel and petrochemical industries, encouraging Saudi industrialists to explore these opportunities. Additionally, steps were being taken to bolster collaboration in the IT sector between the two nations. Referring to a previous visit by a delegation of 15 leading Pakistani IT companies to Saudi Arabia, the statement emphasized the signed agreements that aim to expedite digital transformation, promote innovation, and advance digital infrastructure. These accords also focus on supporting small and medium-sized enterprises, startups, and facilitating the exchange of information on accelerators and incubators. A noteworthy development is the establishment of a special task force designed to promote digital cooperation between Saudi Arabia and Pakistan. During the meeting, the commerce minister also highlighted the scenic beauty of Pakistan’s northern mountainous regions and proposed the development of luxury resorts in these areas. The statement indicated that a delegation comprising ten of Pakistan's top industrialists is anticipated to visit Riyadh, although specific dates for the trip were not provided.

Finance

Pakistan commerce minister meets Saudi envoy ahead of industrialists’ visit to Riyadh

January 30, 2024

ISLAMABAD: On Tuesday, Pakistani Commerce and Interior Minister Dr. Gohar Ejaz held discussions with Saudi Arabia’s Ambassador to Pakistan, Nawaf...

Finance

IMF downgrades Pakistan’s 2024 growth estimate to 2pc

by Web Desk

January 30, 2024

0

The International Monetary Fund (IMF) has downgraded Pakistan’s growth estimate for fiscal year 2024 to two per cent, according to...

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Finance

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by Web Desk

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0

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Finance

SBP maintains interest rate at 22%

by Web Desk

January 29, 2024

0

State Bank of Pakistan’s (SBP) Monetary Policy Committee Monday announced maintaining the status quo, leaving the key policy rate unchanged...

Finance

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by Web Desk

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Finance

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by Web Desk

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Finance

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by Web Desk

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Finance

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by Web Desk

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Finance

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by Web Desk

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Finance

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by Web Desk

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0

Bears cemented their position on the trade floor once again as the KSE-100 traded in the red on Tuesday, a...

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Finance

Pakistan commerce minister meets Saudi envoy ahead of industrialists’ visit to Riyadh

IMF downgrades Pakistan’s 2024 growth estimate to 2pc

KSE-100 decreases over 900 points amid political volatility

SBP maintains interest rate at 22%

IT Ministry has appreciated the role of Special Investment Facilitation Council in increasing foreign direct investment

KCCI and industrialists request Rs. 7 billion through the incremental power package

Surge in power sector’s circular debt hits Rs2.55 trn in Jul-Dec period

First five months of FY24, a substantial 74% rise in the payment of debts

Fitch Ratings: Pakistan continue to rely on the IMF for next few years

PSX downward trend continues as stocks plummet by 1300 points

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