Pakistan’s export of goods and services to China witnessed an increase of 37.68 percent during the first ten months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, the State Bank of Pakistan (SBP) said on Wednesday afternoon.
The overall exports to China were recorded at $2.341 billion during July-April (2023-24) against the exports of $1.700 billion during July-April (2022-23), SBP data revealed.
On a year-to-year basis, exports to China also surged by 13.56 percent from $175.542 million in April 2023 to $199.352 million in April 2024.
On a month-on-month basis, exports to China decreased by 18.97 percent during April 2024 as compared to the exports of $246.030 million in March 2024, the SBP data said.
Overall Pakistan’s exports to other countries witnessed an increase of 10.64 percent in the first ten months, from $23.199 billion to $25.669 billion, the SBP data added.
Imports from China into the country during the months under review were recorded at $10.648 billion against $8.343 billion last year, showing an increase of 27.61 percent in July-April (2023-24).
Overall imports into Pakistan witnessed a decrease of 5.27 percent, from $45.766 billion to $43.353 billion.
Saudi Aramco, a prominent global energy and chemicals enterprise, has advanced its international retail expansion by finalizing the purchase of a 40% equity interest in Gas & Oil Pakistan Ltd. (GO).
This milestone was officially disclosed by the oil giant on its corporate website. GO operates as a diversified downstream fuels, lubricants, and retail store operator in Pakistan, boasting a network exceeding 1,200 retail fuel stations.
Initially unveiled in December 2023, this acquisition marks Aramco’s inaugural downstream retail investment in Pakistan, underscoring the company's escalating retail footprint in lucrative markets. In a separate transaction, Aramco also secured complete ownership of Esmax Distribución SpA (“Esmax”), a prominent diversified downstream fuels and lubricants retailer in Chile.
Yasser Mufti, Aramco’s Executive Vice President of Products & Customers, emphasized the significance of this expansion, stating, “Our global retail expansion is gathering momentum, and this acquisition represents a pivotal advancement in our journey. Through our strategic alliance with GO, we eagerly anticipate delivering Aramco’s superior products and services to esteemed customers in Pakistan.”
Naila Kiani, Pakistan’s leading female high-altitude mountaineer, has been appointed as the Girls' Education National Goodwill Ambassador by the Ministry of Federal Education and Professional Training.
Renowned for her remarkable mountaineering achievements, Kiani now aims to champion the cause of girls’ education across Pakistan, supporting initiatives by federal and provincial governments.
Kiani holds an unparalleled record in mountaineering. She is the first Pakistani woman, and the third Pakistani overall, to have scaled 11 of the world's 14 highest peaks above 8,000 metres.
She also became the first Pakistani woman to climb an 8,000-metre peak in Pakistan and has successfully summited Nanga Parbat, Gasherbrum I, Gasherbrum II, Lhotse, Manaslu, Broad Peak, Annapurna, Makalu, and Cho Oyu. $BTC $ETH $BNB
A new China-Pakistan air cargo route was launched this week to enhance bilateral trade and connectivity, state-run media said, with the new route linking China’s southwestern Guizhou province to Pakistan’s largest city of Karachi.
This is the first air route that links Guizhou and Pakistan, the state-run Associated Press of Pakistan (APP) said in a report on Wednesday, adding that it is also the first air freight route connecting the province with a Belt and Road Initiative (BRI) country.
To mark the official start of the route, an all-cargo plane carrying six tons of freight comprising clothing, electronic products and other commodities, took off from Guiyang, Guizhou’s capital, on Tuesday morning, APP said. It arrived in Karachi within six hours. “This is the first air route linking Guizhou and Pakistan, and it is also the first air freight route connecting the province with a Belt and Road Initiative country,” APP said. $BTC $ETH $BNB
World’s Largest Cargo Ship, MSC Anna, Arrives at Karachi Port, Signifying a Landmark Moment Today, Karachi Port is poised to witness a historic event as the world’s largest cargo ship, MSC Anna, makes its grand entrance. Hailing from India’s Port Mundra, this colossal vessel is scheduled to dock at Karachi port later this evening, heralding a new era in the port’s storied history.
With dimensions that command awe, MSC Anna stretches an impressive 400 meters in length and boasts a staggering capacity of carrying 19,368 containers. Upon arrival, the ship will commence unloading its cargo at Karachi port before embarking on its journey after a brief one-day stopover. $BTC $ETH $BNB
The JazzCash app has achieved 17 million unique downloads over the past year, showcasing its commitment to delivering exceptional user experiences and innovative features.
This milestone reflects the trust and support of its growing community and the relentless efforts of the JazzCash team.
The app has enhanced user experience through technological advancements and new features like embedded insurance, Islamic savings, women’s debit card, Asaan digital account, Raast QR payments, wallet-to-wallet remittance, and digital khaata.
JazzCash has expanded its payment partnerships to over 2,000 partners. Stay tuned for more exciting updates.
Xpeng AeroHT, an affiliate of Xpeng, plans to deliver its flying car by 2026, according to co-president Brian Gu.
The Land Aircraft Carrier, a truck with a detachable two-seater flying drone, was introduced last year. Pre-orders start this year, with delivery expected in 2026.
Designed for scenic outskirts rather than urban centers, the flying car aims to simplify approval processes by working with municipalities to create flying parks and zones.
Currently undergoing certification with China's aviation regulator, the vehicle won’t require a special license for initial leisure use.
$BTC $ETH $BNB The Sindh government, in collaboration with the World Bank, will provide complete solar systems to the public at an affordable price of Rs7,000.
This initiative aims to address energy challenges by equipping 200,000 households, including 50,000 in Karachi, with solar systems capable of powering a fan and three LED bulbs.
The project, starting in October, will distribute 6,656 systems per district.
Funded by the World Bank with $32 million, this effort complements Sindh's existing 400MW solar energy generation.
Meanwhile, the Punjab government plans to offer free solar systems to 50,000 low-consumption households, fully funded at Rs10 billion.
$BTC $ETH $BNB In a significant stride forward in financial technology, Digitt+, a pioneering Electronic Money Institute licensed under the State Bank of Pakistan, is excited to announce its Banking as a Service (Baas) partnership with RIZQ by ROZEE, a premier Fintech specializing in financial wellness for professionals. This collaboration marks a critical evolution in the delivery of financial services, facilitated through the innovative use of Digitt+'s Open API framework.
$BNB $BTC $ETH The first consignment of Pakistani mangoes has arrived in the UAE, with prices slightly higher this year due to inflation and increased freight charges.
Mustafa Altaf, managing director of a trading company, mentioned that the government allowed mango exports from May 20, 2024.
Currently, a 6 kg box of Sindhi mangoes is sold for 28-30 dirhams.
Despite lower production due to climate change, mango exports to the UAE remain strong.
Altaf hopes Pakistani mango growers and exporters will continue to meet the demand for high-quality mangoes.
#EarnFreeCrypto2024 $USDC $SOL The Pakistan Meteorological Department (PMD) forecasts relief from the prevailing heatwave with isolated rain expected in upper regions from May 28 to June 1.
Dust storms and thunderstorms are anticipated in various areas, including Balochistan, Khyber Pakhtunkhwa, Gilgit-Baltistan, and Punjab, providing much-needed respite.
Karachi and coastal Sindh will see dust storms on May 28-29. The PMD advises farmers to manage crops and warns of potential disruptions due to dust storms and lightning.
While the heatwave will subside in the north, central and southern areas will remain 3-4°C above normal. Public is advised to avoid direct sunlight.