BREAKING NEWS
KP CM Sohail Afridi rejects governor’s rule threats • Nadia Khan faces criticism after questioning Preshay Adnan over gym attire • OpenAI scraps new AI model launch over safety concerns • Men face higher cancer rates than women, study finds • Pakistan earn first point in FIFA ASEAN Cup after 2-2 draw with Philippines • Tax return filing deadline tomorrow as late-filer category set to end • Floods and heavy rains kill 23 in Thailand • Ahsan Bhoon sends Rs5b defamation notice to Capt (R) Safdar • Salman Khan speaks out against AI-generated deepfake videos • Insomnia linked to 26% higher stroke risk, study finds • Google Chrome introduces feature to preserve tab position across devices • Four militants killed in security operation in DI Khan • Clashes erupt over partial demolition of 600-year-old Ujjain mosque in India • Pakistan thrash Oman 7-2, set up Asian Games semifinal against India • Pakistan plans $500mn ADB loan for pension reforms
Advertise with us >

Muhammad Aurangzeb

Aurangzeb highlights Google’s interest in turning Pakistan into export hub

by
Aurangzeb

KARACHI: Federal Finance Minister Muhammad Aurangzeb announced that Google intends to develop Pakistan as an export hub, a move that underscores increasing global confidence in the country’s economic potential and digital growth prospects..

Speaking at the Future Summit in Karachi, the finance minister said Pakistan’s economy is moving in the right direction, with a renewed focus on production-led and sustainable growth. “The private sector plays a crucial role in driving economic progress. Our goal is to make Pakistan an export-oriented economy, with particular focus on the IT and maritime sectors,” he added.

Aurangzeb noted that international rating agencies have acknowledged Pakistan’s improving economic indicators, highlighting macroeconomic stability and a 9 percent rise in corporate profits.

He further said that efforts to broaden the tax base have resulted in an increase of 900,000 new filers. “Digitization will bring transparency to the economy, and countries like Egypt have expressed interest in learning from Pakistan’s FBR reforms,” he remarked.

The finance minister emphasized that structural reforms are essential for sustainable economic growth. He added that Pakistan will continue to build an ecosystem to leverage global diplomatic successes, promote AI-driven development, and tap into the vast potential of the blue economy.

Aurangzeb also disclosed that the government has decided to privatize 24 state-owned enterprises, with the privatization of Pakistan International Airlines (PIA) expected to be completed before the end of this year.

PIMEC showcases blue economy potential as second day begins

by
PIMEC

KARACHI: The two-day Maritime Conference formally commenced as part of the ongoing Pakistan International Maritime Expo and Conference (PIMEC) at the Karachi Expo Centre. Global experts in maritime affairs are presenting research papers and sharing insights on the growth potential of the maritime sector.

According to organizers, a total of 176 exhibitors, including 28 international and 150 local companies, are showcasing their products and innovations at the event.

A two-day Maritime Conference has also begun as part of PIMEC, where global experts in maritime affairs will present research papers and discuss key developments in the sector.

Among the international participants, Iran’s pavilion has become a major attraction for visitors, while Türkiye has also set up its own display at the exhibition.

The primary objective of hosting PIMEC is to promote the Blue Economy and encourage growth in maritime trade and industry in Pakistan.

Federal Minister for Finance Muhammad Aurangzeb, addressing the conference via Zoom from Islamabad, congratulated the Pakistan Navy and the Ministry of Maritime Affairs for successfully organizing the international event.

Aurangzeb said it was encouraging to see the international maritime conference being held in Pakistan, adding that the Blue Economy could prove to be a game changer for the country’s economic future.

He acknowledged that Pakistan’s economy had temporarily weakened due to recent floods, but noted that “leading global financial institutions are now recognizing Pakistan’s improving economic trajectory.”

The finance minister emphasized that one of the key goals of the maritime conference was to attract foreign investment and highlight the potential of the Blue Economy in strengthening Pakistan’s economy.

“Through the Blue Economy, Pakistan can achieve its future economic targets,” he said, stressing the need to increase exports and ensure affordable energy for sustainable growth.

Aurangzeb assured participants that the government is committed to resolving policy-related challenges associated with the Blue Economy.

Highlighting Pakistan’s recent economic progress, he said that over the past two and a half years, the government has taken concrete steps toward stability, resulting in a sharp decline in inflation and a reduction in policy rates.

He added that three global credit rating agencies have commended Pakistan’s recent economic measures and that strong coordination among ministries is contributing to continued improvement.

Aurangzeb reaffirmed that the Finance Ministry would extend full cooperation to ensure economic stability, noting that Pakistan also enjoys support from friendly countries in promoting trade and investment.

The finance minister expressed confidence that the Blue Economy could revolutionize Pakistan’s economic landscape, pointing to the vast potential in fisheries and aquaculture. He also said that steps are being taken to modernize Karachi, Gwadar, and Port Qasim, further enhancing Pakistan’s maritime capabilities.

Vice Chief of Naval Staff, Vice Admiral Raja Rab Nawaz, visited various stalls at the exhibition and reviewed a range of modern naval and defense equipment on display.

During the visit, he was given a detailed briefing on Pakistan-made defense technologies and warfare systems, highlighting the country’s progress in indigenous defense production.