Pakistan Economy Thread
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Brigadier
Rupee Continues to Strengthen Against US Dollar Closes at 159 Against Dollar....
Pakistani rupee continued its upward trend for the tenth straight session. The USD-PKR parity gained 29 paisas in the interbank market today.
The inflows of workers’ remittances and export receipts offset the demand for import payment boosted the local currency.
Pakistani rupee continued its upward trend for the tenth straight session. The USD-PKR parity gained 29 paisas in the interbank market today.
The inflows of workers’ remittances and export receipts offset the demand for import payment boosted the local currency.
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Brigadier
Electric Bus Manufacturer to Invest $4 Billion in .....
In an MoU signing ceremony on Monday between the Minister of Science and Technology Fawad Chaudhry and the CEO of a European Electric Bus Manufacturing Company , the minister told the media that the said manufacturer will invest $4 billion to set up an electric bus manufacturing plant in Pakistan.
Fawad Chaudhry stated in his session with the media that the government is making concrete and focused efforts towards shifting the public transport of the metropolitan cities to electric vehicles. He also specified that the government’s goal is to have at least 20% of the public transport to be converted to electric vehicles all across the country in the near future, as per the National Electric Vehicle Policy (NEVP).
He also announced in the same session that the government has decided to install electric vehicle (EV) charging stations on motorways across the country. He said that the country shall see progress on this particular front within the coming 6 months
In an MoU signing ceremony on Monday between the Minister of Science and Technology Fawad Chaudhry and the CEO of a European Electric Bus Manufacturing Company , the minister told the media that the said manufacturer will invest $4 billion to set up an electric bus manufacturing plant in Pakistan.
Fawad Chaudhry stated in his session with the media that the government is making concrete and focused efforts towards shifting the public transport of the metropolitan cities to electric vehicles. He also specified that the government’s goal is to have at least 20% of the public transport to be converted to electric vehicles all across the country in the near future, as per the National Electric Vehicle Policy (NEVP).
He also announced in the same session that the government has decided to install electric vehicle (EV) charging stations on motorways across the country. He said that the country shall see progress on this particular front within the coming 6 months
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Brigadier
to introduce by December 2021 starting from.
The Federal Minister for IT told media that his ministry has set up a policy committee for bidding for the 5G spectrum in the country, which includes representatives of all mobile companies as well as the Frequency Allocation Board.
The government is making rapid efforts to introduce 5G and planning has been done to ensure the provision of 5G service by December 2021.
A trial of service would also be conducted in a hospital in Islamabad in collaboration with telecom.
Prior to this, work on connecting , , and to fiber optics will have to be completed for which all stakeholders will also be consulted.
The Federal Minister for IT told media that his ministry has set up a policy committee for bidding for the 5G spectrum in the country, which includes representatives of all mobile companies as well as the Frequency Allocation Board.
The government is making rapid efforts to introduce 5G and planning has been done to ensure the provision of 5G service by December 2021.
A trial of service would also be conducted in a hospital in Islamabad in collaboration with telecom.
Prior to this, work on connecting , , and to fiber optics will have to be completed for which all stakeholders will also be consulted.
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Brigadier
Haier & Oppo to invest in Pakistan.....
The hi-tech companies of China including and want to invest in the first-ever digital city of .
This was revealed by the K-P IT Board spokesperson Danish.
The of Pakistan is currently is the planning stage. For the first phase of the project in , K-P has allocated an area over 43,000 square metres.
The location is ideal as it is near the communication equipment producers including Industries of Pakistan (TIP) and National and Corporation (NRTC).
The hi-tech companies of China including and want to invest in the first-ever digital city of .
This was revealed by the K-P IT Board spokesperson Danish.
The of Pakistan is currently is the planning stage. For the first phase of the project in , K-P has allocated an area over 43,000 square metres.
The location is ideal as it is near the communication equipment producers including Industries of Pakistan (TIP) and National and Corporation (NRTC).
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Brigadier
exports back on Pre-COVID track, crosses $2bn in Oct: Dawood
“This is despite the contraction in our major markets due to COVID-19 and the uncertainty created by the recent resurgence of the COVID-19 pandemic,” he added.
Pakistan’s exports for the month of October has crossed the $2 billion mark, and are back on the pre-coronavirus track.
“Our exports have maintained the growth trend in October 2020. Our exports have crossed the 2 billion mark after July 2020 and are back on track to pre-COVID- 19 levels.
“This is despite the contraction in our major markets due to COVID-19 and the uncertainty created by the recent resurgence of the COVID-19 pandemic,”
Dawood expressed satisfaction over the increase in pharmaceutical exports. “I am glad to share that our Pharmaceutical exports have gotten off to a good start this year. In value terms, our exports have grown by 22.6% in the first quarter (Q1) to USD 68.1 million as compared to USD 55.6 million in the corresponding period last year,”.
“This is despite the contraction in our major markets due to COVID-19 and the uncertainty created by the recent resurgence of the COVID-19 pandemic,” he added.
Pakistan’s exports for the month of October has crossed the $2 billion mark, and are back on the pre-coronavirus track.
“Our exports have maintained the growth trend in October 2020. Our exports have crossed the 2 billion mark after July 2020 and are back on track to pre-COVID- 19 levels.
“This is despite the contraction in our major markets due to COVID-19 and the uncertainty created by the recent resurgence of the COVID-19 pandemic,”
Dawood expressed satisfaction over the increase in pharmaceutical exports. “I am glad to share that our Pharmaceutical exports have gotten off to a good start this year. In value terms, our exports have grown by 22.6% in the first quarter (Q1) to USD 68.1 million as compared to USD 55.6 million in the corresponding period last year,”.
