RS411 billion rupees would be spent on infrastructure development, 43 billion for different projects of Railways, 404 billion for energy while 180 billion rupees on projects under China Pakistan Economic Corridor: Ahsan Iqbal
Planning Minister Ahsan Iqbal says a record 2.5 trillion rupees Public Sector Development Programme for next financial year has been approved. He was addressing a news conference after a meeting of National Economic Council in Islamabad. He said the new budget includes 1001 billion rupees Federal Public Sector Development Programme, 1112 billion rupees provincial PSDP while 400 billion rupees would be spent by various corporations to carry out their development projects.
Topic: Pakistan- Thailand, Turkey, Iran FTAS to boost exports- Several measures being taken including incentives to the industries, promotional activities and establishment of Exim Bank, to enhance the country's exports.
Pakistan is negotiating free trade agreements with different countries including Thailand, Turkey and Iran, to bolster its exports. According to officials, several rounds of negotiations have been held so far with Thailand and Turkey. Main text of the agreement on Trade in Goods has been finalized with both the countries and currently negotiations are underway on the items to be given concessionary market access. Negotiations with Iran are underway on trade in goods, services and investment. The first round of negotiations was held December last year in Tehran while the second meeting is likely to be held in July. According to the officials, several other measures are also being taken including incentives to the industries, promotional activities and establishment of Exim Bank, to enhance the country's exports.
Topic: Pakistan to record highest growth rate in nine years: WB Report- Pakistan’s Gross Domestic Product growth in Fiscal Year 2017 is expected to climb to 5.2 percent the highest in nine years and the growth rate will continue to accelerate, reaching 5.5 percent in FY18 and 5.8 percent in FY19
Released twice a year, the Pakistan Development Update sets out recent developments across the economy and identifies risks and opportunities in the near-term future before focusing on a handful of key development challenges. According to a press release issued by the Bank The report was launched in Lahore today in collaboration with Lahore School of Economics. Pakistan’s growth will continue to benefit from growing consumer and investor confidence in the first half of FY17, following the successful efforts to restore macroeconomic stability during the last 4 years.
Topic: Pakistan is on the 5th large sugarcane producer in the world- sugarcane is an imperative cash crop: Bosan
Minister for Food Security and Research Sikandar Hayat Khan Bosan has said sugarcane is an imperative cash crop and Pakistan is on the 5th large sugarcane producer in the world. He was addressing a seminar on "Mobile Sugarcane Crusher" arranged by National Agriculture Research Centre in Islamabad. He said Punjab is the foremost province in sugarcane production, which contributes about 68% of the total sugarcane production. He suggested that a mechanism be devised which can cater to one of the biggest challenges which our country is facing. Other speakers said sugar industry is the second largest agro based industry in Pakistan comprising 86 sugar mills, where over 50 million tons of sugarcane is crushed annually. They said that further steps should be taken by the concerned authorities to boost up this sector in future.
Host: Mushtaq Wani (Kashmir Update)