ISLAMABAD: Pakistan’s envoy to Iran, Ambassador Muhammad Mudassir Tipu, mentioned on Saturday enhanced trade and immigration facilities on the border crossing point between the two countries to facilitate increased movement of entrepreneurs and pilgrims, expressing optimism that their bilateral ties were on a positive trajectory.
Last month, the Pakistani diplomat announced that the two countries had decided to operate the Taftan-Gabd border between them 24/7 to improve the bilateral flow of goods and expand economic opportunities.
Pakistani people, including Zaireen or pilgrims and traders, frequently travel overland between the two countries, with religious devotees mostly visiting holy sites like Mashhad and Qom.
The movement of people and goods contributes to the cultural, economic and social ties between the neighboring states.
“Absolutely delighted to share that to facilitate Zaireen, business [community] & promote bilateral trade immigration facilities at Taftan-Gabd border terminals have been substantially beefed up,” the Pakistani envoy announced in a social media post. “Now 4-6,000 passengers can cross both points everyday. [Pakistan-Iran] ties to see promising future.”
https://x.com/AmbMudassir/status/1806987097867161837
Pakistan and Iran have intensified efforts to expand bilateral trade through initiatives like establishing border markets and implementing barter trade mechanisms.
These developments aim to facilitate smoother economic activities and are part of broader attempts to increase bilateral trade to $10 billion over the next five years.
Pakistan and Iran have also been working to develop closer political ties, the late Iranian President Seyyed Ebrahim Raisi visiting Pakistan earlier this year in April.
Pakistan’s envoy to Tehran announces enhanced border facilities to bolster ties with Iran
https://arab.news/2v8k4
Pakistan’s envoy to Tehran announces enhanced border facilities to bolster ties with Iran
- Last month, the two countries decided to operate the Taftan-Gabd border between them 24/7 for improved flow of goods
- Pakistan and Iran have also intensified efforts to expand trade by establishing border markets, implementing barter mechanism
Pakistan approves $713 million to ease power sector’s cash flow constraints
- Finance minister chairs Economic Coordination Committee meeting to approve grants, review economic situation
- Pakistan is grappling with a ballooning “circular debt,” or unpaid bills and subsidies, that has choked its power sector
KARACHI: Pakistan’s top economic body this week approved a grant of $713 million to ease the power sector’s cash flow constraints, the Finance Division said in a statement, as Islamabad looks to reform its priority sectors.
The development took place as Finance Minister Muhammad Aurangzeb chaired a meeting of the Economic Coordination Committee (ECC) to approve grants for various projects and review the overall economic situation of the country.
“[ECC approved] another Technical Supplementary Grant amounting to Rs200 billion ($713 million) under the head of Government of Pakistan investment in DISCOs’ equity to address cash flow constraints in the power sector,” the Finance Division said on Thursday.
DISCOs, which handle billing, recoveries and grid maintenance, have long suffered from corruption and political interference.
Pakistan has attempted to privatize its loss-making state-owned enterprises to raise funds and reform them as envisaged under a $7 billion International Monetary Fund (IMF) program secured last year.
Prime Minister Shehbaz Sharif’s government plans to privatize three DISCOs, the Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) in the months ahead.
The Pakistani government, which owns or controls much of the power infrastructure, is grappling with a ballooning “circular debt,” or unpaid bills and subsidies, that has choked the power sector and weighed on the economy.
The liquidity crunch has disrupted supply, discouraged investment and added to fiscal pressure, making it a key focus under Pakistan’s IMF program.
The ECC also approved, on the interior ministry’s proposal, a provision of Rs 4.775 billion [$17.19 million] as payment to 945 families of “missing persons” as identified by the Commission of Inquiry on Enforced Disappearances.
“The disbursement will be made under the supervision of the Commission in accordance with approved procedures,” it added.
Taking stock of the economic situation, the ECC noted that cumulative inflation for the period July–November averaged 5 percent, which it said was “significantly lower” than the 7.9 percent figure recorded during the corresponding period of the previous year.
It attributed this improvement to prudent fiscal management, effective price stabilization measures and close market monitoring by the government.
