Govt, ASian Development Bank sign agreements for clean energy, transport policy
With the multi-billion-dollar China-Pakistan Economic Corridor (CPEC) already under way, Pakistan has engaged the services of the Asian Development Bank (ADB) to prepare a master plan for the transport sector and a scheme for development of clean energy.The federal government and ADB signed an agreement on Tuesday, with Finance Minister Ishaq Dar in attendance. Under the agreement, the Manila-based agency would provide a $325 million loan to facilitate the ‘Access to Clean Energy Investment Programme’. The plan would mostly finance off-grid renewable energy sources in Khyber Pakhtunkhwa and Punjab.ADB Country Director, Werner Liepach said the most significant aspect of clean energy project is that it would benefit 2.6 million students, including 1.2 million girls.The project seeks to create a safe, efficient and sustainable transport system to realise Pakistan’s Vision 2025 that envisages a comprehensive National Transport Policy and master plan that will help cut travel time and costs and boost the country’s economic outlook by positioning it as a regional hub for trade and business.
Host: Mir M. anwar
Co Host: Yasir Nazar
A renowned international organization has predicted that Pakistan would be among 20 most powerful economies of the world by 2030.
Pricewaterhouse Coopers, one of the world's largest professional-services firms, has just released its predictions for the most powerful economies in the world by 2030.The report, titled "The long view: how will the global economic order change by 2050?" ranked 32 countries by their projected global gross domestic product by purchasing power parity.
China´s foreign exchange reserves have fallen below $3 trillion for the first time in six years, the central bank announced, crossing a symbolic threshold as authorities seek to stem capital flight out of the country.
Slowing growth in the world´s second-largest economy and a weakening yuan have in recent months led investors to move huge sums offshore in search of better returns.But authorities´ efforts to put the brakes on capital outflows by propping up the value of the yuan, which is facing downward pressure from a strong dollar, have rapidly drained reserves.
China could also face more pressure if new US President Donald Trump follows through on pledges to take protectionist moves or stimulate the American economy, which are likely to further lift the greenback."With Chinese FX reserves having dropped below the psychologically important threshold of USD 3 trillion, this will further ramp up the pressure on Chinese policymakers," Rajiv Biswas of IHS Global Insight said in a note.China´s vast foreign exchange reserves slipped $12.3 billion to $2.998 trillion in January, data from the People´s Bank of China showed.
Assurances: Gas supply improved nationwide
The business community is playing an important role in the economic development of the region and Sui Northern Gas Pipeline Limited (SNGPL) will take all measures to resolve their gas-related issues, said SNGPL General Manager Distribution Chaudhry Ejaz Ahmed.Addressing traders and industrialists at the Islamabad Chamber of Commerce and Industry (ICCI), he said that there was still a moratorium on commercial connections.However, he assured that on the recommendation letter of ICCI, SNGPL Islamabad would provide fast-track gas connections to its members. He said that the facility was also available for general consumers.“With the initiatives of the government, gas supply has improved in the country from 1.4 billion cubic feet (bcf) to over 2bcf”Ahmed.