Pakistan Making Shift to Clean Power Production and Lower Energy Costs with World Bank Support

Washington, September 24, 2020 (PPI-OT): Today, the World Bank’s Board of Executive Directors approved $450 million in financing to support Pakistan’s transition to renewable energy resources that reduce its reliance on fossil fuel imports and lower costs of electricity production.
The Khyber Pakhtunkhwa Hydropower and Renewable Energy Development Project will help shift the national energy mix to domestic clean Read More…

World Bank Announces New Country Director for Pakistan

Islamabad, August 03, 2020 (PPI-OT): Mr. Najy Benhassine is the World Bank’s new Country Director for Pakistan effective August 1. He succeeds Mr. Illango Patchamuthu, who completed his term on July 31. Mr. Benhassine most recently served as Regional Director for Equitable Growth, Finance and Institutions in the Middle East and North Africa. Prior to this, he was Director for the Finance, Competitiveness and InnovaRead More…

Pakistan Undertakes Reforms to Bolster Fiscal Resilience and COVID-19 Recovery

Washington, June 30, 2020 (PPI-OT): The World Bank’s Board of Executive Directors approved today $500 million in financing for the Resilient Institutions for Sustainable Economy program (RISE) to help Pakistan strengthen fiscal management, promote transparency and private sector growth, and undertake foundational reforms in the energy sector to transition to low-carbon energy. These reforms are critical to build fiRead More…

South Asia Ramps up Eco-Innovation to Curb Marine Plastic Pollution

Washington, June 09, 2020 (PPI-OT): The World Bank, Parley for the Oceans, and the South Asia Cooperative Environment Programme (SACEP) launched today, on World Oceans Day, a $50 million regional project to help South Asia curb its marine plastic pollution and ramp up eco-innovation to reinvent plastic use and production. The agreement was signed virtually by Dr. Abas Basir, Director General of SACEP, Cyrill Gutsch, Read More…

World Bank signs financing agreement worth US$ 200mln with Pakistan for Covid-19 pandemic response

Islamabad, April 03, 2020 (PPI-OT): Federal Minister for Economic Affairs, Muhammad Hammad Azhar witnessed the signing ceremony through video link for Project “Pandemic Response Effectiveness in Pakistan” worth US$ 200 million with the World Bank (WB) held here at Economic Affairs Division on Friday.
 
Dr Syed Pervaiz Abbas, Federal Secretary of Economic Affairs Division signed the financing agreement on behRead More…

Delegations from textiles, leather, hosiery, towel manufacturing sectors call on PM

Delegations from textiles, leather, hosiery, and towel manufacturing sectors called on Prime Minister Imran Khan in Karachi on Wednesday.They apprised the Prime Minister and his economic team of the problems in their respective sectors.The Prime Minister directed the ministers concerned and Chairman FBR to resolve the issues of these sectors on early basis.The delegation of textiles sector comprised of Zahid Mazhar, Read More…

Govt determined to protect local farming community: Dawood

Advisor to Prime Minister on Commerce Abdul Razak Dawood says a remarkable increase has been witnessed in exports of Pakistani products, capturing bigger share of international markets.Addressing a news conference in Islamabad, he said an increase of 33 percent has been recorded in exports of readymade garments, 20 percent in Basmati rice, 46 percent in cement, 26 percent in pharmaceuticals, 27 percent in footwear anRead More…

Nine industrial centers to be established to promote industrial sector: CM Punjab

Punjab Chief Minister Sardar Usman Buzdar has said that nine industrial centers will be established on ten thousand acres in the province to promote industrial sector.In a statement, he said that necessary steps are being taken for formation of Special Economic Zones in this regard.He said that one hundred and fifty acres of land has been provided in Gujranwala and sixty three acres land in Wazirabad for the establisRead More…

Pakistan Stock Exchange remains bullish on Tuesday

The Pakistan Stock Exchange was bullish today (Tuesday).The KSE100 Index closed today (Tuesday) at 33855.58 points as compared to 33742.68 points on the last working day with a positive change of 112.90 points.The total turnover was 60,158,610 as compared to 59,555,500 on the last working day with Lottee Chemical having the highest turnover of 6,239,000.Total 303 companies’ transacted shares in the Stock Market todayRead More…

NBD delegation calls on Finance Adviser

A five member delegation from Emirates National Bank led by its CEO Fahad Al Qasim called on the Adviser to Prime Minister on Finance, Dr. Abdul Hafeez Sheikh, in Islamabad on Tuesday.The Adviser welcomed the delegation and expressed confidence that mutually beneficial relationship with the bank will further strengthen in future.The CEO of NBD gave a brief introduction of his bank and the financial services offered bRead More…