Articles for tag: deal, exports, Latest, Oil, PRL, prospect, Russia, slim

November 28, 2023

Islamabad: Russia is reluctant to enter into a long-term oil export trade deal with Pakistan with a price ceiling of $60 a barrel, officials say. The European Union and the United States agreed in December 2022 to impose a $60-a-barrel price cap on Russian crude supplies in a bid to pressure Moscow and choke off revenue streams due to the war in Ukraine. The cap was also intended to ensure continuous supplies and avoid a possible shortage of fuel on world markets. Washington has given its consent to Pakistan’s oil deal with Russia while staying within the price ceiling. However,

November 28, 2023

News Desk

Business

Pakistan and China forge textile ties

SUZHOU: A Pakistani delegation, led by Hussain Haider, Consul General of Pakistan in Shanghai, visited Shengze Oriental Textile City in Suzhou, China and met with representatives of local textile enterprises. During the meeting, Haider presented the trade and investment environment of Pakistan and China, with special emphasis on the preferential policies available to Chinese investors in Pakistan. “Currently, Pakistan’s textile exports to China mainly consist of cotton yarn, garments, cotton fabrics and home textiles, with cotton yarn accounting for 73% of the total,” he said. Expressing a strong desire for deep cooperation with the Shengze silk and textile industry, he

November 21, 2023

News Desk

Business

Current account deficit narrows by 91% as remittances, exports outpace imports

Exports rose 21% year-on-year to $2.762 billion, while total imports fell 7% to $4.346 billion Representational image of containers being placed in a port. — Reuters/File Exports rose 21% year-on-year in October. The deficit narrows to $74 million in the same month. Overseas Pakistanis remitted $2.463 billion. KARACHI: Pakistan’s current account deficit narrowed by 91% in October from a year ago as remittances from overseas Pakistanis, lower imports and improved exports boosted the country’s external balance, The news it said on Tuesday citing State Bank of Pakistan (SBP) data. According to the data, the country’s deficit narrowed to $74 million

November 17, 2023

News Desk

Business

DRAP commits to increase exports to $1 billion

KARACHI, PAKISTAN: Drug Regulatory Authority of Pakistan (DRAP) CEO Asim Rauf pledged to increase exports of therapeutic goods to $1 billion in the current financial year, a significant increase from $713 million recorded in the last financial year. “We held a high-level meeting on the sidelines of this conference to come up with a plan to achieve the target of $1 billion in exports in the current financial year. The government is proactively working with all stakeholders in the pharmaceutical sector, including pharmaceutical companies, raw material producers and universities, to scale up the footprint of this industry in various countries,”

November 3, 2023

News Desk

Business

Textile exports rise 5% in October after months of contraction

A Pakistani textile worker mends broken threads on a loom in Karachi on January 25, 2019, the financial capital and largest industrial city of Pakistan. — AFP Textile shipments rose to $1.43 billion in October: APTMA. Exports in the first 4 months of the current fiscal year decreased by 7%. The downward trend in exports continued into September. Islamabad: Textile exports registered 5% growth for the first time in 10 months, signaling a possible recovery for the industry hit by rising input costs and the global recession. The news reported on Friday. According to the data from the All Pakistan

The prospect of an oil deal with Russia is slim

Pakistan and China forge textile ties

Current account deficit narrows by 91% as remittances, exports outpace imports

DRAP commits to increase exports to $1 billion

Textile exports rise 5% in October after months of contraction

PIMS Report Says Oxygen Equipment Exploded Beside an Incubator in the NICU

Militant Attacks Increase but Fatalities Decline in August Amid Sustained CT Pressure: Think Tank

Pakistan to Provide First Secretary General of Makkah Defence Alliance

Shehbaz Sharif Tells SCO Summit Water “Must Never Be Weaponised”