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Pakistan wins GSP-Plus extension from EU

The International Trade (INTA) Committee of EU Parliament has extended the Generalised System of Preferences-Plus (GSP-Plus) status for Pakistan, enabling the country to continue to enjoy preferential duties on exports for the next two years. While the GSP-Plus facility has been available to Pakistan since January 2014, its continuation is an award for Islamabad’s progress in enacting new laws and developing new institutions for implantation of 27 core conventions of…

Pakistani fintech entrepreneur wins award

Adnan Ali, the CEO of Avanza Premier Payment Services (APPS) won the “Excellence in Finance Leaders”, award for his significant contribution towards the financial sector, at the FiNext Conference, held in Dubai on February 26 & 27, 2020. The award is not just an individual win, but a milestone for Pakistan, as it signifies recognition of domestic entities and talent on international forums. FiNext Awards are one of the most…

Chinese firm set to launch ride-hailing service in Karachi this month

As the fate of both provincial and federal government-funded transportation projects remains uncertain amid the widening gap between demand and supply of adequate transportation facilities, international players are seeing great opportunities in Karachi to expand their businesses. This time round, a Chinese tech giant is set to launch wide-ranging operations in Karachi, including delivery and ride-hailing cab services, with plans to invest $600 million in the country, officials and market…

Two Pakistanis shortlisted for Commonwealth Youth Awards

Two Pakistanis were among 16 innovators, activists and entrepreneurs from 12 countries that have been shortlisted for the Commonwealth Youth Awards 2020, organisers said on Thursday.A pan-Commonwealth judging panel met last week and selected the top individuals in each of the award’s four regional categories. This year, the awards received more than 500 entries from 40 countries. Of those shortlisted, the top candidate from each region will be named as…

Malaysian automaker to start production in Pakistan by first half of 2021

Malaysian auto giant Proton, would open its production facility in Pakistan in the first half of 2021, in Pakistan’s economic hub Karachi. Whereas, Pakistan’s national carrier PIA will be adding a new direct flight destination soon from Lahore to Kuala Lumpur. “Both leaders recalled the symbolic ground breaking of the Proton Assembly Plant jointly officiated in Islamabad on 22 March 2019, and were pleased to note the progress made at…

Govt eyes increasing software exports to $10bn

To achieve this target, a 40-acre ‘software city’ will be constructed in Islamabad Prime Minister Imran Khan on Friday chaired a meeting on the information technology sector, wherein it was decided that the government would try to boost software exports to $10 billion. To achieve this target, the meeting decided that a 40-acre software city would be constructed in Islamabad. “All Pakistani organizations will use locally developed software.” According to…

Pak Digital Transformation, Economy Summit

To highlight and discuss Pakistan’s potential in digital economy growth, the Global Systems of Mobile Association (GSMA) will hold a high level Summit on February, 25, 2020 at “MWC Barcelona 2020” in Spain, in collaboration with Pakistan Telecommunication Authority (PTA) and Ministry of Information Technology & Telecom (MoIT&T). This was informed by Mr. Julian Gorman, Head of GSMA, APAC in a meeting with Chairman PTA, Maj. Gen. (R) Amir Azeem…

Egyptian company to invest $500m in Pakistan’s energy sector

Egypt’s Ambassador to Pakistan Ahmed Fadel Yacoub said the Egyptian company El Sewedy Electric has expressed its intention of investing $500 million in Pakistan’s energy sector and has already completed the feasibility study in this regard. It is one of the largest Egyptian companies that has investment in many countries,” he said. The envoy noted that there was a huge potential for trade and investment between the two countries. “We…