Pakistan’s liquid foreign reserves position

The total liquid foreign reserves held by the country stood at US$16,406.8million on 25 May2018.The break-up of the foreign reserves position is as under:-

 

  1. Foreign reserves held by the State Bank of Pakistan: US$10,033.8million
  2. Net foreign reserves held by commercial banks : US$6,373.0million
  3. Total liquid foreign reserves             :US$16,406.8 million

 

During the week ending 25 May2018, SBP’s reserves decreased by US$286 million to US$10,034 million, due to external debt and other official payments.

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FPCCI urges the PM to include yarn and tanned leather in extended export incentive package

Syed Mazhar Ali Nasir, Senior Vice President and Chairman, Budget Advisory Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the incumbent government to also include cotton yarn and tanned leather in the recently announced extended export incentive package for traditional and non-traditional items for the next three years from June 2018 to June 2021. 

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Uber Pakistan and Kashf Foundation partner to promote dignity at work for drivers

 Uber, the global smartphone app that seamlessly connects riders to drivers, has teamed up with Kashf Foundation in a bid to educate driver partners on how to refrain from inappropriate behavior to recognize and prevent unsuitable actions. Titled ‘Dignity at Work’, this training is a part of Uber’s global initiative to help prevent harassment of any kind.

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DP World closes acquisition of Cosmos Agencia Marítima, Peru

Global trade enabler DP World today announced the successful closing of the acquisition of Cosmos Agencia Marítima S.A.C. (CAM) in Peru. On 18 March, DP World and Andino Investment Holding announced an agreement for DP World to acquire 100% of the shares of CAM, a leading fully integrated logistics provider in Peru, for $315.7 million.

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Increase in interest rates may impact economy

Mr. Ghazanfar Bilour President Federation of Pakistan Chambers of Commerce and Industry while commenting on the recently announced monetary policy said that hike in policy rate to 6.5 percent is not appropriate at this time when foreign competitors are coming to Pakistan with low interest rate in their respective countries. 

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Etihad Cargo operates its first “Year of Zayed” humanitarian flights to Kazakhstan and India

Etihad Cargo, the cargo division of Etihad Airways, the national airline of the UAE, has launched its first humanitarian freighter missions. The initiatives are part of the group’s extensive Year of Zayed programme, which will take place throughout 2018. The specially branded Year of Zayed Boeing 777 freighter aircraft departed Abu Dhabi – first to Almaty in Kazakhstan and then to Hyderabad in India – carrying special provisions to be distributed to those in need during the Holy Month of Ramadan.

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NHA: Inauguration of section M-3 & M-4

The Prime Minister will inaugurate the Sharqpur -Rajana Section of Lahore-Abdul Hakeem Motorway (M-3) and Gojra-Toba Tek Singh Section of Faisalabad-Multan Motorway (M-4) on May 28, 2018.

The Sharqpur-Rajana Section of Lahore – Abdul Hakeem Motorway will reduce the traffic congestion drastically, particularly the heavy traffic on G.T.

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