Pakistan Economic Development

In the wake of the economic crisis in Pakistan, World Bank Country Director for Pakistan, Najy Benhassine said that Pak's economic development is limited to the elite which resulted in the country lagging behind its fellow countries.

The International Monetary Fund (IMF) has reportedly proposed tight austerity conditions in Pakistan's development budget and expressed concern over the allocation of funds for new projects in the current financial year, ARY News reported.

Banks in Pakistan have decided to develop a know-your-customer (KYC) platform using blockchain technology in order to strengthen the country’s efforts to curb money-laundering. With a blockchain-based KYC platform, financial institutions will be able to minimise onboarding costs for bank users.

Finance Minister Ishaq Dar on Friday said Pakistan is the only country founded in the name of Islam and Allah is responsible for its development and prosperity, as the cash-strapped nation faced an acute balance of payments crisis.

Despite facing severe foreign exchange shortage and being under economic crisis, the government of Pakistan has ordered a massive hike of 30 per cent in development funds to PKR 90 billion for Parliamentarians

Pakistan Prime Minister Shehbaz Sharif on Saturday said that the country cannot develop only if it makes economic progress.

India on Tuesday said it has revived grassroots democracy and provided a new momentum to social and economic development in Jammu and Kashmir despite persistent attempts by a neighbouring country to infiltrate terrorists to derail this process.

President Xi Jinping on Friday described the China-Pakistan Economic Corridor (CPEC) as a "landmark project" under the Belt and Road Initiative (BRI) and said it is of great importance to promoting in-depth development of the all-weather strategic cooperative partnership between the two countries.

China should "respect India's sovereignty and territorial integrity" as the recent developments in Jammu and Kashmir are "entirely a matter internal to India", the government has said, a day after Chinese Foreign Minister Wang Yi made a reference to Kashmir at the United Nations General Assembly in New York.

Pakistani Prime Minister Imran Khan has said the China-Pakistan Economic Corridor (CPEC) will attract trade, investment and technology from China to Pakistan so as to help boost his country's future development.

Yao Jing, the Ambassador of China to Pakistan, has announced that Beijing has planned to invest $1 billion in development projects in Islamabad.

The State Bank of Pakistan (SBP) received $1 billion from the United Arab Emirates (UAE) following an agreement with the Abu Dhabi Fund for Development (ADFD), to help bridge Islamabad's current account deficit.

Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan's deepwater port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China.

For over a decade, Pakistani officials have dreamed of transforming the small but strategically located fishing port of Gwadar into a duty-free port and free economic zone - Pakistan's answer to Dubai.

Norway remains the world's most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the World Economic Forum said.

In the wake of the economic crisis in Pakistan, World Bank Country Director for Pakistan, Najy Benhassine said that Pak's economic development is limited to the elite which resulted in the country lagging behind its fellow countries.

The International Monetary Fund (IMF) has reportedly proposed tight austerity conditions in Pakistan's development budget and expressed concern over the allocation of funds for new projects in the current financial year, ARY News reported.

Banks in Pakistan have decided to develop a know-your-customer (KYC) platform using blockchain technology in order to strengthen the country’s efforts to curb money-laundering. With a blockchain-based KYC platform, financial institutions will be able to minimise onboarding costs for bank users.

Finance Minister Ishaq Dar on Friday said Pakistan is the only country founded in the name of Islam and Allah is responsible for its development and prosperity, as the cash-strapped nation faced an acute balance of payments crisis.

Despite facing severe foreign exchange shortage and being under economic crisis, the government of Pakistan has ordered a massive hike of 30 per cent in development funds to PKR 90 billion for Parliamentarians

Pakistan Prime Minister Shehbaz Sharif on Saturday said that the country cannot develop only if it makes economic progress.

India on Tuesday said it has revived grassroots democracy and provided a new momentum to social and economic development in Jammu and Kashmir despite persistent attempts by a neighbouring country to infiltrate terrorists to derail this process.

President Xi Jinping on Friday described the China-Pakistan Economic Corridor (CPEC) as a "landmark project" under the Belt and Road Initiative (BRI) and said it is of great importance to promoting in-depth development of the all-weather strategic cooperative partnership between the two countries.

China should "respect India's sovereignty and territorial integrity" as the recent developments in Jammu and Kashmir are "entirely a matter internal to India", the government has said, a day after Chinese Foreign Minister Wang Yi made a reference to Kashmir at the United Nations General Assembly in New York.

Pakistani Prime Minister Imran Khan has said the China-Pakistan Economic Corridor (CPEC) will attract trade, investment and technology from China to Pakistan so as to help boost his country's future development.

Yao Jing, the Ambassador of China to Pakistan, has announced that Beijing has planned to invest $1 billion in development projects in Islamabad.

The State Bank of Pakistan (SBP) received $1 billion from the United Arab Emirates (UAE) following an agreement with the Abu Dhabi Fund for Development (ADFD), to help bridge Islamabad's current account deficit.

Saudi Arabia plans to set up a $10 billion oil refinery in Pakistan's deepwater port of Gwadar, the Saudi energy minister said on Saturday, speaking at the Indian Ocean port that is being developed with the help of China.

For over a decade, Pakistani officials have dreamed of transforming the small but strategically located fishing port of Gwadar into a duty-free port and free economic zone - Pakistan's answer to Dubai.

Norway remains the world's most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the World Economic Forum said.