China’s economic recovery post-pandemic brings hope for the global economy and nations like Pakistan, which heavily rely on Beijing for investments, trade, and financial support.

In 2023, Pakistan’s economy experienced highs and lows, with the Pakistan Stock Exchange reaching record levels but the Pakistani rupee facing challenges. The IMF’s $3 billion bailout helped the economy recover, and the government implemented reforms for growth. However, factors like oil prices and IMF decisions will continue to impact the economy in 2024. The incoming government’s actions and decisions will be crucial.

Pakistan has become a leading exporter of sesame seeds to China, with a surge of 117.85 percent recorded last year. Pakistani sesame seeds are favored by Chinese consumers for their quality and flavor, solidifying Pakistan’s position in the global market.

International rice prices surged by over 20% in 2023, driven by factors such as export restrictions and adverse weather conditions. Indica rice saw the biggest increase of 25%, while Japonica, Aromatic, and Glutinous rice also experienced price rises. Efforts to maintain stable domestic prices and strengthen reserves contributed to strong purchases by Asian and African buyers.

Pakistan’s international airports have implemented screening protocols in response to the increase in global Covid-19 cases. Passengers on international flights will undergo rapid antigen testing, and passenger lounges will be fumigated daily. These measures aim to curb the potential spread of the virus and prioritize the safety of citizens and visitors.

According to the UN’s Food and Agriculture Organization, global food prices have dropped by 13.7% in 2023, driven by declines in grain and oil prices. However, consumer food prices in many countries are actually increasing at a faster rate than overall inflation.

In 2023, the UN’s FAO reported a significant decrease in world food prices, with a 13.7% drop in overall commodity prices. However, rice prices increased by 21% due to the impact of El Nino and India’s export restrictions. It’s important to note that consumer food prices may still rise despite the drop in commodity prices. [Source: Nation – World Food Prices Fall in 2023]

Shahbaz Aslam, Senior Vice Chairman of FRIA and leader of PIAF, expressed concern over investment challenges in Pakistan’s weak economy. He urged the government to streamline FDI approval and provide incentives for cash-strapped SMEs to revive the economy and attract foreign investments.

A Chinese company has delivered 160 high-end electric buses to Pakistan, marking the country’s first significant introduction of such vehicles. Valued at over RMB 150 million, the buses have been praised by Pakistani officials for their performance and role in promoting green travel initiatives. The arrival of these buses marks a new chapter in the development of public transportation in Pakistan.

Chinese company delivers 160 high-end electric buses to Pakistan, marking the country’s largest introduction of such buses. The buses offer advantages like zero emissions, low operating costs, and advanced software intelligence for improved transportation operations. This development supports the China-Pakistan Economic Corridor and the Belt and Road Initiative. (Source: [Daily Times](https://dailytimes.com.pk))