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Pakistan and Afghanistan sign bilateral trade meeting minutes

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ISLAMABAD: Pakistan and Afghanistan sign bilateral trade meeting minutes held here on May 8, expressing the desire to enhance business ties between them by overcoming existing challenges through frequent interaction and extended facilitation.

From Pakistan side, the minutes were signed by Secretary Commerce Mohammad Younus Dagha, whereas from Afghanistan side, Deputy Minister for Industries and Commerce Kamila Sidiqi signed the documents, said a press release issued here Thursday.

Minister for Commerce Mohammad Pervaiz Malik, Ambassador of Afghanistan to Pakistan Omar Zakhilwal, officials of the Ministry of Commerce and Textiles, members of the Afghan ministerial delegation, and embassy officials were also present on the occasion.

The Afghan ministerial delegation, who arrived in Islamabad on May 7, had been holding policy and expert-level talks with Pakistani counterparts for improvement of bilateral trade relations.

After the signing ceremony, both sides had a brief discussion and expressed the desire to enhance trade relations between the two countries by overcoming existing challenges and impediments through frequent interaction and extending facilitation.

The announcement by the Prime Minister of Pakistan during his recent visit to Afghanistan regarding removal of regulatory duties on import of Afghan products was also discussed during the recent visit and talks. As per discussions on May 8, 2018, the Afghanistan side had requested for removal of regulatory duties from fresh fruits, vegetables, dry fruits and other goods.

The ministry of commerce assured to accommodate the Afghan request to all possible extent. In addition, it was also agreed to facilitate Afghan cotton exports to Pakistan.

 

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PSX: Bears leave the bourse after seven sessions

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Asia

Bears growl at Hong Kong bourse

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Bearish bourse

HONG KONG: Shares fell more than one percent Tuesday, hit by concerns over rising  Iran-US tensions and as investors await this week’s crucial trade talks between  Donald Trump and Xi Jinping.
The Hang Seng Index sank 1.15 percent, or 327.02 points, to 28,185.98. The benchmark Shanghai Composite Index fell 0.87 percent or 26.07 points,
to 2,982.07, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, lost 0.99 percent, or 15.63 points, to 1,560.46.

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Economy

Asset declaration scheme: No extension to be granted!

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tax amnesty

ISLAMABAD: PM has warned that there would be no extension in the 30th of June deadline, therefore, people should legalize their undeclared assets.

He was speaking on Monday (24th of June) about the asset declaration scheme. He said that the country stood at the crossroad and every citizen would have to play his role in ameliorating the economy of Pakistan. Maintaining that the country could not move forward unless taxes were collected, Imran Khan held that nation and government could work together for the success of the scheme. 

He told that modern technology would be introduced in the tax system and a helpline would also be set up for facilitation of public.  PM pointed out that the first time Baynaami laws had been enacted to bring the undeclared wealth into the tax net.

He said measures were being taken to augment income and reduce loans. He further pointed out that Govt. was implementing austerity drive to reduce expenditure. He lamented that half of the income goes to repay interest on loans. 

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Economy

USAID provides waste mgmt. eqpt. to Jacobabad

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USAID JACOBABAD

JACOBABAD: USAID Director for Sindh & Balochistan Michael Hryshchyshyn handed over waste management equipment to the municipality here at the DC office.

These 80 waste management vehicles and related equipment, provided under USAID’s Sindh Municipal Services Program (MSP), were handed over in the presence of Sindh Minister for Local Govt., Saeed Ghani and Chairperson of the Sindh Planning & Devt. Board, Naheed Durrani.

Michael Hryshchyshyn articulated that the US Govt. was proud to partner with the Govt. of Sindh in the joint initiative of providing a clean & healthy environment for the citizens of Jacobabad. Through MSP USAID is helping the city rehabilitate its water supply, sewerage, and garbage collection systems. 

Construction of the new water system is near completion and over 300,000 citizens of Jacobabad will all have access to clean, potable water and will be living in a much cleaner environment, all which will have a significant impact on their health and well-being.

USAID JACOBABAD

USAID JACOBABAD

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