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Hilal-e-Imtiaz for Umar Farooq Zahoor for bringing over $700m in investment to Pakistan

LONDON: President Asif Ali Zardari has conferred Pakistan’s highest civilian award – the Hilal-e-Imtiaz – upon Dubai-based Pakistani origin businessman Umar Farooq Zahoor in recognition of his services for the state of Pakistan, mainly for bringing foreign direct investment worth hundreds of millions of US Dollars. President Asif Ali Zardari had approved the Hilal-e-Imtiaz (Crescent of Excellence) for Umar Farooq Zahoor in August last year. Farooq was among over 100 individuals, both Pakistani and foreign, who received the civil awards on Sunday at the special presidential investiture ceremony held at the President House in connection with the Pakistan Day. Umar

Additional tax revenues to be spent on welfare projects: PM Shehbaz

Prime Minister Shehbaz Sharif has said the additional tax collection will be spent on health, education, and other public welfare projects. He said this in a statement in response to the Lahore High Court’s decision of dismissing the stay order on windfall tax on banks’ additional income, benefiting the national treasury by 11.5 billion rupees, and a total of 34.5 billion rupees over the last month. The Prime Minister, taking notice of the stay order cases regarding the windfall tax imposed on banks’ additional income under the Finance Act 2023, had directed the Minister of Law, Minister of Finance, Attorney

SIFC paving way for foreign investments to boost economy

Special Investment Facilitation Council is paving the way for investments from different countries to improve the country’s economic situation. In this regard, Memorandums of Understanding (MoUs) have been signed between Pakistan and the United Arab Emirate aimed at enhancing bilateral cooperation. The UAE has expressed interest in investing in various sectors, including banking, mining, railways and infrastructure. A significant agreement between Pakistan Railways and the UAE’s Etihad Rail is expected to improve the railway network. The strategic partnership between Pakistan and the UAE will enhance cooperation in trade, investment and energy sectors. Pakistan, Uzbekistan set $1 billion trade target: Uzbek

Country will steer towards prosperity under PML-N’s leadership, says Tarar

Federal Information Minister Attaullah Tarar said that the country will steer towards the prosperity under the leadership of the Pakistan Muslim League-Nawaz’s (PML-N) leadership. Addressing the workers’ convention via telephone in Sukkur, Tarar said: “Nawaz Sharif and Shehbaz Sharif are still having a vote bank in Sukkur. We [PML-N] will not leave the people of Sindh in isolation.” “The PML-N will pay great attention to uplift Sindh,” he said. Taking a jibe at the Pakistan Tehreek-e-Insaf (PTI), Tarar said: “The PTI founder-led government is responsible for harming the country that was witnessing the prosperity.” “The economic situation is getting better,

PM Shehbaz vows to combat climate change in collaboration with int’l community

Prime Minister Muhammad Shehbaz Sharif has reaffirmed Pakistan’s strong commitment to advancing the objective of combating climate change in close collaboration with international community and the United Nations. He was talking to the UN Resident Coordinator in Pakistan Mohamed Yahya, who paid a courtesy call on him in Islamabad. During the meeting, the Prime Minister appreciated the important work being carried out by the UN Country Team in Pakistan, emphasizing the need to further strengthen the collaboration in the areas of sustainable development and climate change. He said climate financing remained a crucial component of addressing the impacts of climate

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