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Economy

US$100 Billion in CPEC Agri-Market

CPEC provides avenues to target $100b Chinese agri-market The China-Pakistan Economic Corridor (CPEC) is a golden opportunity for overall development of this region and Pakistan should reorganise its agriculture sector to get a major slice of the $100 billion worth of agriculture produce imports by China, suggested Muhammad Mehmood, Punjab Agriculture Secretary. Speaking at the launch of a study on …

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PM Modi is destroying Indian economy

Prime Minister Narendra Modi, in his Independence Day address, spoke triumphantly about how demonetisation drove ₹3 lakh crore of unaccounted money into the banking system. The Reserve Bank of India (RBI) is still counting old notes, and unaccounted money cases are ongoing. Thus, this number is at best a guesstimate, and cannot be taken seriously. Dipping indices For the facts, …

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Saudi Arabia wants to invest in CPEC

S Arabia keen to invest in CPEC, Gwadar projects: Envoy Ambassador of Kingdom of Saudi Arabia (KSA) to Pakistan Nawaf Ahmad Al Malkiy on Wednesday said his country is mulling to invest in China Pakistan Economic Corridor (CPEC) and Gwadar port projects. While talking to state media, the ambassador said that the CPEC is a huge project, which would create …

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China seeks to build petrochemical complex in Pakistan

A Chinese proposal to set up a refinery along with a downstream petrochemical complex near Karachi is advancing steadily as requests for 500-1,000 acres has been submitted to the provincial governments of Sindh and Balochistan. The estimated cost of the project is about $4 billion. This was disclosed by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zubair …

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China enters Pakistan’s auto market

Can Chinese cars carve out a market in Pakistan? It seems possible, but it will take some time. Pakistan’s first-ever locally assembled Chinese car, FAW V2, is going to hit the roads. The car has already passed its first test. The company, which is assembling V2, a 1,300cc hatchback, has already been importing it for the last two years. Importing …

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Chinese Ambassador sees CPEC projects reaching early harvest stage

Chinese Ambassador to Pakistan Sun Weidong on Thursday said the China-Pakistan Economic Corridor (CPEC) projects initiated in 2015 have now entered into the early harvest stage. The ‘early harvest’ term has been coined for the projects that are likely to be completed in the next few years as opposed to longer-term ones. “There is no country in the world other …

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PML-N builds up a new curcular debt

(By Zafar Bhutta) Govt to borrow Rs55b to retire circular debt As the circular debt piles up to Rs400 billion, the government plans to borrow another Rs55 billion from commercial banks to retire dues of the Pakistan State Oil (PSO) and independent power producers (IPPs). Sources told The Express Tribune that during a meeting on Wednesday, Prime Minister Shahid Khaqan …

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Connection between Pakistan’s political misfortunes and its economic cycles

In the backdrop of the drama surrounding the Panama Papers, it has become imperative to look into the connection between Pakistan’s political fortunes and its economic cycles. In order to grasp the story completely, one has to start from the country’s very first economic cycle. After World War II and the years leading up to Partition, the transition from a …

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The chaos post Panama

The chaos post Panama

The gloves are off and it is a free for all. Politics is a dirty game in this country, but it has seldom been so ugly. In this no-holds-barred war of glib talk, the entire endeavour is to prove the rival more corrupt. While parliament is rendered dysfunctional, the apex court has become the battleground. The court, too, is subjected …

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Lawmakers shamelessly evade taxes

(Lawmakers shamelessly evade taxes

THE last act of Pakistan’s finance minister Ishaq Dar in the closing days of former prime minister Nawaz Sharif’s regime was a telling one. Amid much fanfare, he oversaw the publication of yet another annual directory documenting taxes paid by members of parliament. And yet again, in the absence of evidence it would lead to any reform of Pakistan’s largely …

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