Agriculture being the backbone of economy has a vital role towards employment, economic growth and food security: PM
Prime Minister Shahid Khaqan Abbasi has directed to devise a comprehensive plan to ensure food security and address issues faced by the agriculture sector. Talking to delegation comprising representatives of the agriculture sector in Islamabad on Wednesday, he appreciated the role of agriculture sector towards employment,
‘Loadshedding cut by 52pc in 4 years’
State Minister for Power Abid Sher Ali informed the Senate Standing Committee on Power on Wednesday that loadshedding had been reduced by 52 per cent while recoveries increased to 94pc in the past four years. However, Senator Mir Israr Ahmed Khan Zehri, Chairman of the committee, expressed concerns over lack of gas and electricity to vast areas in Balochistan.
BoI looks to increase Pakistan’s FDI to $250 billion by 2025
The Board of Investment (BoI) is devising a long-term plan to maximise benefits from the China-Pakistan Economic Corridor (CPEC), and increase Foreign Direct Investment (FDI) for infrastructural developments up to $250 billion and allied industrial activities by 2025, said BoI Director Zulfiqar Ali. Pakistan has faced low levels of FDI in recent times with the amount close to the $2.4-billion mark in 2016-17. It was only $900 million in 2014-15, surging more than two times to reach $2.3 billion during the next year.
Currency: Rupee strengthens against dollar
The rupee strengthened against the dollar at 105.35/105.55 in the inter-bank market on Wednesday compared to Tuesday’s close of 105.4/105.6. The currency market has fluctuated regularly in recent months with hefty rises and falls on some occasions.
Pso & Ogdc: Agreement signed for 30m litres of HSD
Oil & Gas Development Company Limited (OGDCL), the largest oil and gas exploration and production (E&P) company in Pakistan, has inked an agreement with Pakistan State Oil (PSO) for annual supply of 25 to 30 million litres of high speed diesel (HSD) to meet its operational requirements at fields, plants and drilling rigs.
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