ISLAMABAD: Pakistani Prime Minister Imran Khan has signed a joint letter with Afghanistan and Uzbekistan seeking $4.8 billion in financing from international agencies for a railway from Pakistan to Uzbekistan through Afghanistan.
“Today the Prime Minister signed a letter for a joint approach with Afghanistan & Uzbekistan for asking international financial agencies to finance the railway from Pakistan to Uzbekistan through Afghanistan,” commerce adviser Abdul Razak Dawood said on Twitter on Tuesday. “This fits well with our vision for trade and connectivity through Afghanistan to the Central Asia Republics.”
Dawood said under process trade agreements with Afghanistan would be followed by similar agreements with Uzbekistan.
“I hope to visit Uzbekistan in January 2021 … this will open doors for increase in our exports,” the adviser said.
The signing ceremony, held at the Prime Minister’s Office in Islamabad, was attended by Uzbekistan’s Minister for Transport Makhkamov Ilkham. The joint appeal has already been signed by the presidents of Uzbekistan and Afghanistan.
Ilkham also called on Prime Minister Khan separately and discussed bilateral relations, regional connectivity and peace and security in the region.
A statement issued by the Prime Minister’s Office said Khan underlined Pakistan’s resolve to forge closer trade, investments energy and people-to-people ties with Central Asia.
Khan highlighted the importance of joint efforts to promote regional connectivity for the sake of economic growth and the development of the region and said his country’s seaports provided a great opportunity to Central Asian states to access the Indian Ocean.
Pakistan seeks $4.8 billion international loan for railway to Uzbekistan through Afghanistan
https://arab.news/pbjv2
Pakistan seeks $4.8 billion international loan for railway to Uzbekistan through Afghanistan
- PM Khan signs joint letter with Afghanistan and Uzbekistan seeking financing from international agencies
- Uzbekistan’s minister for transport calls on Khan, discusses bilateral relations, regional connectivity and regional security
Pakistan central bank holds key rate at 10.5%
- The decision follows a surprise 50-basis-point cut in December
- It comes after cumulative easing of 1,150 basis points since mid-2024
KARACHI: Pakistan’s central bank held its key policy rate unchanged at 10.50% on Monday, the central bank chief said, defying market expectations for further easing following a surprise reduction in December.
The decision follows a surprise 50-basis-point cut in December that ended a four-meeting pause, and comes after cumulative easing of 1,150 basis points since mid-2024. Interest rates had previously peaked at a record 22% in 2023.
The move, announced by central bank chief Jameel Ahmad at a press conference, ran counter to market expectations. A Reuters poll conducted ahead of the meeting had anticipated a 50-basis-point cut, citing easing inflation, stronger foreign exchange reserves and a stabilising rupee.
Pakistan’s consumer price inflation slowed to 5.6 percent year-on-year in December, while prices fell on a monthly basis due to lower perishable food costs, official data showed. Non-food inflation, however, remained elevated in both urban and rural areas.
An International Monetary Fund staff report has cautioned against premature monetary easing under Pakistan’s $7 billion loan program, urging policymakers to remain data-dependent to anchor inflation expectations and rebuild external buffers.
