World Trade Organization held that measures applied by European Commission on Pakistani PET were inconsistent with the Subsidies and Countervailing Measures Agreement (SCM) of the WTO. The report of the WTO adjudicating panel was released in Geneva. This is being seen as a big diplomatic success of Pakistan at the multilateral forum in Geneva by trade experts who termed it a success of the present government's economic diplomacy. 

Pakistan, ADB celebrate 50-year of ties with pledge to expand partnership

Finance Minister Senator Ishaq Dar and Asian Development Bank (ADB) Vice-President Wencai Zhang joined federal ministers, diplomats, senior government officials, ADB staff, and representatives of the development community celebrated ADB’s 50th anniversary at a reception here on Thursday night. The event included a panel discussion on “What’s Next- Supporting Pakistan’s Development Agenda,” the country launch of the ADB history book Banking on the Future of Asia and the Pacific-50 Years of Asian Development Bank, the presentation of a short video about ADB in Pakistan, and the unveiling of a commemorative postage stamp. “Over the last 50 years, ADB has helped upgrade vital infrastructure, promote private sector development, improve public sector management and financial markets, foster social protection, and develop agriculture sector, as well provided emergency assistance,” Zhang

Chinese firm agrees to construct oil refinery near Kohat

A Chinese firm has agreed to construct Oil Refinery near Kohat. Sources of Khyber Pakhtunkhwa Oil and Gas Company Limited told our Peshawar correspondent that a memorandum of understanding has been signed with the company. The oil refinery spreading over two hundred acres land will be completed at a cost of three hundred million dollar in four years. The refinery on completion will produce fifteen thousand barrel oil per day.

Tariq Bajwa appointed as new governor SBP

Tariq Bajwa has been appointed the governor of State Bank of Pakistan. The approval to this effect has been given by President Mamnoon Hussain. The seat had fallen vacant in April this year when Ashraf Mehmood Wathra completed his three-year term. Tariq Bajwa had retired from the civil service last month as finance secretary.

Host: Tanvir Hussain

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