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News
01.
Pakistan’s investment regime most liberal in the region

INVESTMENT REGIME

Pakistan’s economy has made remarkable advances, with a liberalised investment sector and improved security environment, Consul General Ayesha Ali told Pakistani-American businessmen here the other day. “Our investment regime is the most liberal in the region,” she said at a meeting aimed at promoting entrepreneurship in Pakistan for economic development in the country.“We offer an open admission policy for investment in majority of sectors that does not require pre-screening and approval for entrants,” she added. The event was jointly organised by the Pakistan consulate in New York and the Organisation of Pakistani Entrepreneurs of North America (OPEN). Founded in 1998, OPEN has grown to 11 chapters in the US, UK and Pakistan, with leading entrepreneurs, business leaders and corporate professionals as its members. The consul general briefed the gathering about the investment and business opportunities in Pakistan and promised every possible help to overseas Pakistanis to do business in their motherland. The consulate, she said, was geared to facilitate their work.

02.
Pakistan gears up to promote blue economy for national development

BLUE ECONOMY

The Pakistani government has decided to give a big push to the country’s national development by enhancing efforts to promote the blue economy, according to a notification acquired on Friday. According to the notification issued by the government, Pakistani Prime Minister Imran Khan has declared the year of 2020 as the year of the blue economy with an aim to focus on the maritime activities significantly to fulfill the national development agenda. The decision was made during a meeting of the federal cabinet chaired by the prime minister following a comprehensive report on the ocean potential of the country.”The maritime sector of Pakistan has enormous potential and its development is intrinsically linked to the development of Pakistan,” said the notification.

03.
Pakistan invites Russia to acquire OGDC, PPL shares

RUSSIA'S PARTICIPATION

Pakistan has offered Russia to participate in the divestment of government’s shareholding in the country’s largest state-run oil and gas explorers – Oil and Gas Development Company (OGDC) and Pakistan Petroleum Limited (PPL) – and become a strategic partner by acquiring shares. Pakistan has also asked Russia to become an equity partner in Pakistan Refinery Limited (PRL), a subsidiary of Pakistan State Oil. Interested Russian companies may consider equity participation and/or getting engineering, procurement and construction (EPC) contract for the revamp and upgrade of the refinery.

04.
FTA is a chance for Pakistan to stabilize its economy

FTA

Deputy Consul General Peng Zhengwu has said that China is extending full support to Pakistan and power plants based on technology being used in Beijing have been installed here for resolving the energy crisis. He was addressing a seminar organised by Punjab University’s Pakistan Study Centre here on Monday. He said Free Trade Agreement (FTA) would come into effect on Jan 1, 2020, which would reduce the tariffs and Pakistan would have an opportunity to strengthen its economy. He said Beijing was the strategic partner of Islamabad and China issued visas to around 150,000 Pakistanis every year.

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