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IMF, ADB recognize economic stabilisation reforms by Pakistani Govt

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IMF, ADB recognize economic stabilisation reforms by Pakistani Govt

Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue, alongwith his delegation in a meeting with various global financial institutions informed about the overall state of Pakistan economy.

Pakistani delegation, which includes State Bank of Pakistan Governor Reza Baqir and Finance Secretary Naveed Kamran Baloch, held an extensive meeting with Asian Development Bank (ADB) President Takehiko Nakao to exchange views on the ongoing projects sponsored by ADB in Pakistan as well as the planned portfolio.

ADB President Nakao said that the ADB was an important financial partner of Pakistan and acknowledged the current structural reforms undertaken by the government for economic stabilisation.

The Pakistani delegation also met IMF Director Middle East and Central Asia Department (MCD) Jihad Azour and discussed the implementation of the ongoing IMF programme.

Speaking on the occasion, the IMF director appreciated the progress Pakistan had made towards economic stabilisation as well as the government’s commitment to the reform process.

Kamyab Jawan Program by PTI govt breaks all previous records

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Kamyab Jawan Program by PTI govt breaks all previous records

PTI govt launched Kamyab Jawan program on 17 October. Aim of this program is to disburse loan on easy terms to youth of Pakistan so that they can start a business or become self-employed instead of searching for jobs.

It has been reported that Kamyab Jawan Program has broken all previous records since it’s launch. In 72 hours of it’s launch 18 lac people have visited Kamyab Jawan website and 1 lac 90 thousand applications have been received in just 72 hours.

As it’s easy to apply online at website in just 5 minutes instead of standing in queue so more people are taking benefit from it.

Previously PML(n) launched Youth Loan scheme, stats show that Youth Loan scheme of PML(n) received 90 thousand applications in 5 years.

So, with comparison, Kamyab Jawan Program is way more popular among youth as compared to PMLn Youth Loan Scheme.

Special Assistant to Prime Minister on Youth Affairs, Usman Dar, encourages youth to benefit more from this program.

Mahathir Mohammad anticipates trade sanctions against Malaysia

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Mahathir Mohammad anticipates trade sanctions against Malaysia

According to Reuters Malaysian Prime Minister Mahathir Mohamad said on Monday his exports-reliant country could be hit with trade sanctions amid rising protectionism highlighted by the U.S.-China tariff war.

Although Mahathir did not mention the source of possible sanctions on the Southeast Asian country but said he was disappointed that proponents of free trade were now indulging in restrictive trade practices on a “grand scale”.

“Unfortunately, we are caught in the middle,” he told a conference in the capital Kuala Lumpur, referring to the U.S.-China trade war.

“Economically we are linked to both markets, and physically we are also caught in between for geographical reasons. There are even suggestion that we ourselves would be a target for sanctions.”

The United States and China were two of the three biggest export destinations for Malaysia between January and August this year. Singapore was the top destination.

To cushion the impact of the collision between the superpowers, Mahathir said Malaysia was collaborating more with its regional neighbors.

Mahathir also complained of being bullied by powerful nations, referring to a campaign by European countries against Malaysia’s agricultural mainstay of palm oil. The edible oil contributed 2.8% of Malaysia’s gross domestic product last year and 4.5% to total exports.

“Having cleared most of their forests and refusing to reduce their noxious emissions, they now try to impoverish the poor by preventing them from clearing their forest for living space and earning a living,” he said.

After Turkey’s bold stance on Kashmir issue, Modi cancels Turkey visit

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After Turkey’s bold stance on Kashmir issue, Modi cancels Turkey visit

Indian Prime Minister (PM) Narendra Modi has decided to cancel his two-day official visit to Turkey after Turkish President Recep Tayyip Erdogan openly raised occupied Kashmir issue at United Nations General Assembly (UNGA) and backed Pakistan at the Financial Action Task Force (FATF) meet in Paris.

Narendra Modi was scheduled to pay a two-day official visit to Ankara at the end of this month (October) following visit to Saudi Arabia, where he is going on October 27-28 to attend a mega investment summit.

But after observing Erdogan’s strong backing of Pakistan on Kashmir and highlighting widespread human rights violations in Indian Occupied Kashmir during his speech at the UN General Assembly last month India is not feeling good about that.

Kartarpur Corridor: Pakistan starts registration for Sikh pilgrims

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Kartarpur Corridor: Pakistan starts registration for Sikh pilgrims

The registration process has begun for Sikh pilgrims who intend to visit Pakistan’s Kartarpur on the 550th Birth Anniversary of Baba Guru Nanak, as Kartarpur Corridor enters it’s final phase of completion.

Imported marble has been used on the floor of the shrine that is spread on 10 acres. Fire extinguishers, sound systems and CCTV security cameras have been installed at the site. Construction process and painting of the shrine has been completed and electricity has been supplied to the site from Shakar Garh’s grid station.

Imported marble has been used on the floor of the shrine that is spread on 10 acres. Fire extinguishers, sound systems and CCTV security cameras have been installed at the site. Besides, construction of temporary guesthouses and a border terminal building has also been completed.

Prime Minister Imran Khan will inaugurate the project on November 9, three days before the 550th birth anniversary Baba Guru Nanank that will be celebrated on November 12.

Prime Minister Imran Khan, in a message shared on social media on Sunday, reiterated that the work on the Kartarpur Corridor has entered last stage.

He further mentioned that Sikhs from all countries will travel to the world s largest Gurdwara. “This Gurdwara will strengthen local economy […] many jobs will also be created in travelling, religious tourism and hospitality sectors,” he stated. “Buddhists have also been coming to visit different religious spots in Pakistan.” 

Importantly, Pakistan had accepted India’s demand of facilitating visa-free movement of 5,000 Sikh pilgrims per day, and now they will have to just obtain a permit to visit Kartarpur.

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