Pakistan Business Forum (PBF) expresses satisfaction over current economic situation in Pakistan, highlighting GDP growth by 2.13% in Q1 2024 and a decrease in twin deficit. PBF predicts further economic improvement with GDP growth projected to reach 2.3% in FY-2025.

The Pakistan Army forms an inquiry committee to investigate charges against former DG ISI Lt. Gen Faiz Hameed, responding to a complaint and court directive. Defence Minister Khawaja Asif questions the authenticity and reliability of the previous inquiry commission’s report.

Pakistan’s Attock Oil Refinery, National Oil Refinery, and Pakistan Oil Refinery are set to finalize agreements with OGRA under the Brownfield Refinery Policy, boosting energy security and economic development. By modernizing and expanding existing refineries, Pakistan aims to reduce import dependence, adhere to Euro-V standards, and promote local production. A partnership with SIFC highlights the country’s commitment to cleaner energy and sustainability. Source: [https://en.wenews.pk](https://en.wenews.pk){:target=”_blank” rel=”nofollow”}

Ambassador Jiang Zaidong and FM @MIshaqDar50 acknowledge the importance of CPEC for both countries, expressing commitment to strengthen bilateral cooperation. They also emphasize the successful completion of the China-Pakistan FTA and the significance of people-to-people exchanges.

Dr. Qibla Ayaz, Chairman of the Council of Islamic Ideology, bid farewell after three successful years. With the completion of twelve members’ terms, the CII prepares for new leadership and fresh perspectives. The organization’s focus on strengthening Islamic ideology and its role in society remains crucial for Pakistan’s cultural and legislative development.

Pakistan’s rice exports have surpassed previous records, with an expected 46.3% increase in 2023/24. The international market’s rising prices, caused by an Indian export ban, create opportunities for Pakistan to capitalize on and expand globally. China has also shown interest in increasing its share of Pakistani rice.

The government plans to host a nationwide pension promotion fair to encourage more participation in the pension scheme. The fair will be held in 64 districts across eight divisions, providing a platform for people to learn more about the benefits and address concerns.

The Indian Agricultural Research Institute (IARI) accuses Pakistani rice farmers of illegally cultivating and selling Indian basmati rice strains, sparking diplomatic tension and raising concerns about intellectual property rights and the impact on the Indian rice industry.

Ambassador of Uzbekistan met with FPCCI President to discuss bilateral trade, investment, and the need for enhanced cooperation. President Atif Ikram Sheikh highlighted sectors with potential for growth and expressed concerns regarding visas and flights to Uzbekistan. Pakistan’s participation in upcoming exhibitions was also discussed.

Pakistan is now a leading player in the global rice export market, with 4.5 million metric tons of rice exported in 2020-21, earning over $2.2 billion. The country’s high-quality rice, diverse varieties like Basmati, and efforts to tap into new markets like China and the USA contribute to its success. Challenges include competition from countries like India, Thailand, and Vietnam.