In a significant development, Indus Motor Company (IMC), the leading automaker in Pakistan, has forged a deal with Toyota Egypt to initiate the export of automotive products from July onwards.
The Finance Minister, Ishaq Dar, announced on Wednesday that the United Arab Emirates (UAE) has deposited $1 billion into the State Bank of Pakistan (SBP). This deposit has contributed to an increase in the central bank’s foreign exchange reserves, which will be reflected in the reserves position for the week ending July 14, 2023.
The Kingdom of Saudi Arabia (KSA) has deposited $2 billion into the State Bank of Pakistan (SBP) account, according to Finance Minister Ishaq Dar on Tuesday.
A leading tech company in Pakistan, PTCL, is now hiring around the country. In the country, the business is renowned for offering the largest integrated information, communication, and technology (ICT) and cellular network services.
Prime Minister Shehbaz Sharif estimated that during the following three to four years, the agriculture industry will draw investments totaling $30 to $50 billion.
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After opening at 271 in the interbank market, the Pakistani rupee gained significantly versus the US dollar during intraday trade today.
According to UOB Kay Hian analysts, China’s auto exports increased 58% in the first quarter to become the world’s largest car exporter for the first time ever, and the economic superpower will likely maintain its lead for the remainder of the year.
Dr. Musadik Malik, Minister of State for Petroleum, stated on Sunday that the Kingdom of Saudi Arabia and the United Arab Emirates are interested in Pakistan’s information technology, agriculture, and mining sectors.
In an unexpected turn of events, Jack Ma, co-founder of Chinese digital giant Alibaba, visited Pakistan on Thursday, according to Azfar Ahsan, former Minister of State and Chairman Board of Investment and Founder Nutshell Group, in a tweet.
Pakistan is expected to sign a staff-level agreement with the International Monetary Fund (IMF) tomorrow.Â
A second cargo of 55,000 tonnes of Russian URAL crude arrived in Pakistan on Tuesday, pending docking at the Karachi Port in the coming hours.
