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Tag Archives: Pakistan

Pakistan committed to complying with FATF action plan: MoF

ISLAMABAD: Pakistan  reaffirmed its commitment to continue strengthening the AML/CFT regime in line with global standards and comply with the FATF’s action plan. The statement from the Ministry of Finance was issued after the Financial Action Task Force (FATF) appreciated Pakistan for the significant progress made by the country on the entire action plan. The plenary meetings of the global ... Read More »

Reduction in tax collection target by Rs350b to be sought from IMF

ISLAMABAD: Following the new round of talks with the International Monetary Fund (IMF) for the release of third tranche of about $450 million under the $6 billion Extended Fund Facility (EFF), Pakistan may consider bringing a mini budget to overcome the shortfall in tax collection by slapping more taxes or cut down expenditures in order to keep the budget deficit ... Read More »

Big diplomatic victory for Pakistan, UNSC nullifies Indian claim on Occupied Kashmir

UNITED NATIONS: For the first time since 1965, the UN Security Council (UNSC) held a meeting exclusively on occupied Jammu and Kashmir on Friday, nullifying India’s claim that this was an internal matter. China’s UN Ambassador Zhang Jun summed up the discussions, expressing serious concern over the situation. “The UNSC members are concerned about the human rights situation there and ... Read More »

IMF reaches staff-level agreement on economic policies with Pakistan for 3-year extended fund facility

ISLAMABAD: In response to a request by the Pakistani authorities, an International Monetary Fund (IMF) mission led by Mr. Ernesto Ramirez Rigo visited Islamabad, Pakistan from April 29 to May 11 to discuss IMF support for the authorities’ economic reform program. At the end of the visit, Mr. Ramirez Rigo made the following statement: “The Pakistani authorities and the IMF team ... Read More »

Navy thwarts Indian submarine attempt, Port Qasim prone to incursion

KARACHI: The Pakistan Navy (PN) thwarted an attempt by an Indian submarine to enter Pakistani territorial waters. But it is likely they could attack Karachi city and especially Port Qasim after two Indian Air Force MiG 21 aircraft were shot down by Pakistan Air Force, sources said. A section of media reported this morning that the Pakistan Navy thwarted an ... Read More »

Customs issues notice to Maersk for cancellation of license; goods loaded may not reach Pakistan

KARACHI: Model Customs Collectorate of Preventive, Karachi has issued a notice to M/s Maersk Pakistan (Pvt) Ltd as it started the process to cancel license of the company for sheer violation of the Customs Act 1969 and SRO 1220(I)/2015. Maersk Line and its subsidiary M/s Maersk Pakistan (Pvt) Ltd kept on harassing and blackmailing importers to get additional demurrage and ... Read More »

Shipping activity at Port Qasim

KARACHI: Following is shipping report of Port Qasim: Sailing of Vessels Ship Name PQA Reg No L.O.A Commodity Manifest Qty. (Import) (Export) Draft Aft (Meters) Draft Far (Meters) ETD Ship Agent Name Berth M.T- GP ASPHALT III 25166 95.50 BITUMEN 2230.000 4.9 4.9 11:30 GATEWAY M/W-II M.T- OOCL WASHINGTON 25190 322.97 CONTAINERS 11.8 11.8 13:00 OOCL PAKISTAN QICT-V M.V- DARANEE ... Read More »

Gwadar Customs’ online system plagued by delays due to slow internet

GWADAR: Gwadar Port Authority Chairman Dostain Khan Jamaldini has said the customs authority’s inability to resolve issues of internet speed and reliability at the port managed by a Chinese state-owned entity is operating at less than capacity. In an interview to Bloomberg, Jamaldini said that although the Chinese have installed an alternative wireless system for provision of internet services, that ... Read More »

Pakistan, Turkey agree to boost defence ties

ANKARA: Army Chief General Qamar Javed Bajwa was awarded the Legion of Merit in Ankara on Tuesday in recognition of his services for promotion of Pakistan-Turkey defence ties. Speaking on the occasion, General Bajwa dedicated the award to the martyrs of both Pakistani and Turkish armed forces. Later, the Army Chief held a meeting with his Turkish counterpart General Hulusi ... Read More »

Pakistan, Portugal strengthening ties in diverse sector

LISBON: The first round of Pakistan-Portugal Bilateral Consultations has been held at Lisbon. Additional Foreign Secretary Iftikhar Aziz led the Pakistan delegation while Political Director Francisco Durate Lopes led the Portuguese side. The two sides discussed a wide range of issues including trade, investment, defence and cultural cooperation, people-to-people contacts and parliamentary exchanges with focus on enhancing cooperation in these ... Read More »

Turkey exports high-tech engineering services to Romania, Pakistan

ANKARA: For the first time, Turkey is to export engineering services in submarine modernization, an area which requires high technology. Turkish Defense Technologies Engineering (STM), the principal partner of the Undersecretariat for Defense Industries, has won the tender on the modernization of Pakistan’s French-made and Romania’s British-made submarines. The Turkish defense industry, which previously developed Pakistan’s largest military supply vessel, ... Read More »

Pakistan, South Korea likely to ink free trade pact

SEOUL: The government is taking concrete measures to ink a Free Trade Agreement (FTA) with South Korea and negotiations started by December, Minister for Commerce Khurram Dastagir Khan said on Friday. Responding to questions of senators, he said that the Pakistan Institute of Trade and Development (PITAD) and the Korean Institute of Economic Planning (KIEP) were conducting a joint feasibility ... Read More »

Pakistan, Italy likely to sign LNG supply deal

ROME: Pakistan and Italy are likely to sign a government-to-government deal for the supply of liquefied natural gas (LNG) as Italian firm Eni has offered to provide gas to Pakistan, according to officials familiar with the development. Eni has been engaged in exploration activities in Pakistan and has been working since long. Now, it has conveyed to the Pakistan government ... Read More »

Pakistan, Italy agree to enhance bilateral relations

ROME: Italy and Pakistan have agreed to enhance bilateral relations in diverse areas including trade and economy; regional peace and security; as well as countering extremism and terrorism. In this regard, Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz, and Italian Foreign Minister Paolo Gentiloni held a bilateral meeting at Ministry of Foreign Affairs on Friday Both sides agreed ... Read More »

Vegetables: Sri Lanka to facilitate imports from Pakistan

COLOMBO: Sri Lanka will facilitate the import of vegetables including potato and onion from Pakistan. The issue of exempting imported consignments of vegetables from regularity duties will be taken up in the next cabinet meeting as the duties are imposed to save local production. These views were expressed by Sri Lankan Minister of Trade and Industry Rishad Bathiudeen while addressing ... Read More »

Pakistan, Iran to boost bilateral cooperation

TEHRAN: Pakistan and Iran have reiterated their resolve to enhance bilateral cooperation in diverse fields, including trade, economy and energy. Pakistani Prime Minister Nawaz Sharif and Iranian President Hassan Rouhani made the remarks while talking to media after their wide ranging talks in Islamabad on Friday evening, Radio Pakistan reported. Sharif said that the two countries have decided to open ... Read More »

Pakistan, Turkey to sign FTA next week

ANKARA: Pakistan and Turkey will sign a free trade agreement framework on Tuesday to tap the massive potential of bolstering trade between the two countries, Turkish Ambassador to Pakistan Sadik Babur Girgin said on Friday. Turkish Economy Minister will visit Islamabad to sign the agreement between the two countries, which have very close cooperation in diverse fields, including defence and ... Read More »

Jordan, Pakistan sign 4 MoUs during JMC meeting

AMMAN: Pakistan and Jordan have signed four MoUs during Joint Ministerial Commission (JMC) meeting held in Amman. Minister for Commerce Khurram Dastgir Khan led the Pakistan’s delegation and Maha Ali, Minister for Industry, Trade and Supply led the Jordanian delegation during the Joint Ministerial Commission (JMC) meeting. During his visit Khurram Dastgir Khan called on Prince Hassan Bin Talal and ... Read More »

Jordan, Pakistan sign 4 MoUs during JMC meeting

AMMAN: Pakistan and Jordan have signed four MoUs during Joint Ministerial Commission (JMC) meeting held in Amman. Minister for Commerce Khurram Dastgir Khan led the Pakistan’s delegation and Maha Ali, Minister for Industry, Trade and Supply led the Jordanian delegation during the Joint Ministerial Commission (JMC) meeting. During his visit Khurram Dastgir Khan called on Prince Hassan Bin Talal and ... Read More »

CPEC, Gwadar Port high on agenda of Xi’s visit to Pakistan

Chinese President Xi Jinping will start a state visit to Pakistan on Monday, his first trip to the South Asian country since he assumed presidency in 2013.During the visit, China and Pakistan will sign deals on a wide range of issues, from energy and infrastructure to education and culture, which will inject fresh and powerful impetus into the deepening of ... Read More »