Investment cooperation in green development: Pakistan, China may sign three-year pact 

  The MoU will be inked with Ministry of Commerce China which is actively implementing China’s commitment to be carbon neutral by 2060. The Ministry is also carrying out China’s 14th Five-year plan (2021-2025) for National Economic and Social Development and long-range objectives though the year 2035.

The MoU is based on the goodwill and needs of businesses of both countries and the practical foundation for strengthening cooperation in the field of green development.

According to the proposed draft MoU, the parties will adhere to the green consensus and promote green development. They will take the global energy transition as an opportunity to stimulate new growth drives in green development, deepen exchanges and cooperation in green economy and clean energy, and promote high quality development of bilateral investment cooperation.

The parties will enhance synergy between green development strategies and policies, encourage local governments, industrial organisations, financial institutions and businesses to enhance coordination, tap the potential of green development cooperation and jointly create the momentum of cooperation for the future.

The parties will encourage businesses to conduct investment cooperation in green development, including clean energy such as photovoltaic, wind power, nuclear, hydrogen and biomass energy, new energy vehicle industry such as power battery, smart charging pile production service and battery disposal and recycling, as well as, green finance and green infrastructure construction.

The parties will encourage businesses to, in compliance with the requirements of the United Nations Framework Convention on Climate Change, the Convention on Biological Diversity and the carbon-neutral commitment targets, fulfil environmental obligations, promote green design, green procurement, green construction, green production and green operation, and facilitate the coordinated development of the local economy, society and the ecological environment.

The parties will encourage businesses to accelerate green transformation, increase investment in green technology, jointly promote green technology innovation and carry out high-level joint research through the establishment of scientific and technological innovation platforms such as R&D centres, innovation centres, laboratories and incubators.

The parties will agree to give full play to the leading role of the investment cooperation working group under the mechanism of China- Pakistan Joint Commission (or mixed committee) on Economic and Trade Cooperation(or the parties agree to give full play to the leading role of China- Pakistan Joint Commission(or mixed committee) on Economic and Trade Cooperation if there is no Working Group), with the Department of Outward Investment and Economic Cooperation of the Ministry of Commerce of China and Department of Executing Agencies of this Memorandum, to step up policy exchanges, implement the work set out in this Memorandum, and build a pragmatic and efficient platform for green development cooperation.

This Memorandum will come into effect on the date of signature and remain in effect for three years.

 

 

Iran is ready to start barter trade with Pakistan to jack-up the volume of bilateral trade

Iran is ready to start barter trade with Pakistan 

to jack-up the volume of bilateral trade.

This was stated by Iranian Consul General Muhammad Hossain Bani Assadi while speaking at the Lahore Chamber of Commerce and Industry on Monday.



He said Iranian government was well aware of the fact that business community has been facing problems due to absence of banking channels but barter trade was the best way to tackle issue till the establishment of banking mechanism between the two sides.



Over the issue of Iran-Pakistan Gas pipeline, he said work on this mega project was in full swing while the Pakistan government had already been conveyed that the Iran could also spread gas pipeline up to hundred kilometres inside Pakistan.



He said that as soon as Pakistan government agrees to the proposal, other formalities would be finalised.



Mr Assadi said that Pakistan and Iran have the potential to cater to each other's needs provided the businessmen have the exposure to the available opportunities.



The Iranian Consul General said that the business community in the two countries would have to increase interaction to share their experiences in the larger interests of the people of two brotherly nations. He said that the volume of mutual trade between Pakistan and Iran does not match their respective potentials.



He said Chambers of Commerce in the two countries would have to focus on expansion of trade by holding single country exhibitions and through trade delegations to each other's country. He said that dissemination of sector-specific and trade-related information would go a long way in achieving the goal. Both the countries should share their experiences in the filed of science and technology also. Agriculture, Tourism and Metal industry of Iran have opportunities of investment therefore Pakistani business community should come forward.



 Speaking on the occasion, LCCI Senior Vice President Irfan Iqbal Sheikh reassured the Iranian Consul General that the Chamber would continue to play its role for increasing bilateral trade and economic relations.



"The bilateral trade would get a boost as soon as the gas pipeline project with Pakistan and Iran completes," he added. He said both the sides need to conduct Market research to further strengthen trade relations between the two countries. Priority should be given to each other for import of goods rather than buying from distant countries.

Pakistan: Basic Facts

Basic Facts About Pakistan

Official Name	Islamic Republic of Pakistan
Father of the Nation	Quaid-i-Azam Muhammad Ali Jinnah (1876-1948)
National Poet	Allama Muhammad Iqbal (1877-1938)
Head of the State	General Pervez Musharraf, President
Head of Government	Shaukat Aziz , Prime Minister
Capital	Islamabad
Area	Total  796,095 Sq. km.  Punjab  205,344 Sq. km.  Sindh  140,914  Sq. km. North West Frontier Province  74,521 Sq. km.  Balochistan  347,190 Sq. km.  Federally Administered Tribal Areas  27,220 Sq. km.  Islamabad (Capital)  906 Sq. km.
Population	153.96 million (E)
Administrative Setup	Pakistan is divided into four provinces viz., North West Frontier Province (NWFP), Punjab, Sindh and Balochistan. The tribal belt adjoining NWFP is managed by the Federal Government and is named FATA i.e., Federally Administered Tribal Areas. Azad Kashmir and Northern Areas have their own respective political and administrative machinery, yet certain of their subjects are taken care of by the Federal Government through the Ministry of Kashmir Affairs and Northern Areas. Provinces of Pakistan are further divided into Divisions and Districts   Divisions Districts NWFP  7 24 Punjab  8   34 Sindh  5 21 Balochistan  6 22 While FATA consist of 13 Areas/Agencies and Azad Kashmir and Northern Areas have 7 and 5 Districts respectively.
Religion	95% Muslims, 5% others.
Annual Per capita income	US $736
GDP	8.4%
Currency	Pak. Rupee.
Imports	Industrial equipment, chemicals, vehicles, steel, iron ore,  petroleum, edible oil, pulses, tea.
Exports	Cotton, textile goods, rice, leather items  carpets, sports goods, handi-crafts, fish and fish prep. and fruit
Languages	Urdu (National)  and English (Official)
Literacy rate	53%
Government	Parliamentary form
Parliament	Parliament consists of two Houses i.e., the Senate (Upper House) and the National Assembly (Lower House).   The Senate is a permanent legislative body and symbolises a process of continuity in the national affairs. It consists of 100 members. The four Provincial Assemblies, Federally Administered Tribal Areas and Federal Capital form its electoral college.  The National Assembly has a total membership of 342 elected through adult suffrage (272 general seats, 60 women seats and 10 non-Muslim seats).
Pakistan National Flag	Dark green with a white vertical bar, a white crescent and a five-pointed star in the middle. The Flag symbolizes Pakistan's profound commitment to Islam, the Islamic world and the rights of religious minorities.
National Anthem	Approved in August, 1954  Verses Composed by: Abdul Asar Hafeez Jullundhri  Tune Composed by: Ahmed G. Chagla  Duration: 80 seconds
State Emblem	The State Emblem consists of:  1. The crescent and star which are symbols of Islam  2. The shield in the centre shows four major crops  3. Wreath surrounding the shield represents cultural heritage and 4. Scroll contains Quaid's motto: Unity Faith, Discipline
Pakistan's Official Map	Drawn by Mian Mahmood Alam Suhrawardy (1920-1999)
National Flower	Jasmine.
National Tree	Deodar (Cedrus Deodara).
National Animal	Markhor.
National Bird	Chakor (Red-legged partridge)
Flora	Pine, Oak, Poplar, Deodar, Maple, Mulberry
Fauna	The Pheasant, Leopard, Deer, Ibex, Chinkara, Black buck, Neelgai, Markhor, Marco-Polo sheep, Green turtles, River & Sea fish, Crocodile, Waterfowls
Popular games	Cricket, Hockey, Football, Squash.
Tourist's resorts	Murree, Quetta, Hunza, Ziarat, Swat, Kaghan, Chitral and Gilgit
Archaeological sites	Moenjo Daro, Harappa, Taxila, Kot Diji, Mehr Garh, Takht Bhai.
Major Cities	Islamabad, Karachi, Lahore, Peshawar, Quetta, Rawalpindi, Hyderabad, Faisalabad, Multan and Sialkot
Major Crops	Cotton, Wheat, Rice and Sugarcane
Agricultural Growth Rate	7.5% in 2004-05
Total cropped area	22.94 million hectares
Industry	Textiles, Cement, Fertiliser, Steel, Sugar, Electric Goods, Shipbuilding
Energy	Major sources Electricity (Hydel, Thermal, Nuclear) Oil, Coal,  and Liquid Petroleum Gas   Power Generating Capacity  19,389 MW
Health	Hospitals  916 Dispensaries  4,600 Basic Health Units (BHUs)  5,301 Maternity & Child Health Centres  906 Rural Health Centres (RHCs)  552 Tuberculosis (TB) Centres  289 Hospital Beds  99,908  Doctors (registered)  113,206  Dentists (registered)  6,127  Nurses (registered  48,446 Paramedics  23,559 Lady Health Workers  6,741
Education	Primary Schools 155,000 Middle Schools 28,728  High Schools 16,100 Secondary Vocational Institutions 636 Arts & Science Colleges 1,066 Professional Colleges 382 Universities 51
Transport & Communication	Total length of roads  259, 758 km  Pakistan Railway network  7,791 km  Locomotives 580 Railway stations  781  Pakistan International Airlines Covers 38 international and 24 domestic stations with a fleet of 49 planes. Major Airports  8 (Islamabad, Karachi, Lahore, Quetta, Peshawar, Multan, Faisalabad and Gwadar)
Seaports	International  2 (Karachi and Bin Qasim) Gwadar deep sear port is under construction Fish Harbours-Cum-Mini Ports  3 (Minora, Gawadar, and Keti Bandar)
Communications	Post Offices  12,170 Telephone connections  5,052,000 Public Call Offices  217,597 Telegraph offices  299 Internet Connections 2 million Mobile Phones 10,542,641
Employment	Total Labour force  46.84 million Employed Labour Force  43.22 million Agriculture Sector  18.60 million Manufacturing & Mining sector  5.96 million Construction  2.52 million Trade  6.39 million Transport  2.48 million  Others  6.98 million
Media	Print Media (In accordance with Central Media List)     Dailies  540 Weeklies  444  Fortnightlies  55 Monthlies  268   News Agencies   Official  APP   Private PPI, NNI, On Line and Sana.   Electronic Media   TV Centres Five TV centres at Islamabad, Lahore, Peshawar, Quetta and Karachi covering 88.58% population and 49 re-broadcasting stations.    Pakistan Television  4 channels (PTV-I, PTV-II (PTV World), PTV-III &  PTV National   Radio Stations Public: Total 25, Home services in 19 languages. External Services cover 81 countries in 15 languages  Private: Radio stations 22. Pakistan Electronic Media Regulatory Authority has so far awarded 72 FM Radio broadcast licenses including nine (9) specialized subject licenses for universities. Fifteen (15) licenses have been granted for the establishment of Satellite TV Channels. Nine Satellite TV channels have started their operation.   Cable Operators  900
Banks	Central Bank State Bank of Pakistan   Nationalized Scheduled Banks First Woman Bank Ltd. National Bank of Pakistan Specialized Banks Zari Taraqiati Bank (ZTBL) Industrial Development Bank of Pakistan Punjab Provincial Cooperative Bank Ltd Private Scheduled Banks Askari Commercial Bank Limited Bank Al-Falah Limited Bolan Bank Limited Faysal Bank Limited Bank Al-Habib Limited Metropolitan Bank Limited KASB Commercial Bank Limited Prime Commercial Bank Limited PICIC Commercial Bank Limited Soneri Bank Limited Union Bank Limited Meezan Bank Limited Saudi-Pak Commercial Bank Limited Crescent Commercial Bank Limited Dawood Bank Limited NDLC-IFIC Bank Limited (NIB) Allied Bank of Pakistan Limited United Bank Limited Habib Bank Limited SME Banks Foreign Banks ABN Amro Bank N.V Albaraka Islamic Bank BSC (EC) American Expresss Bank Limited Bank of Tokyo Mitsubishi Limited Citibank N.A Deutsche Bank A.G. Habib Bank A.G. Zurich Hongkong & Shanghai Banking Corp Limited Oman International Bank S.O.A.G Rupali Bank Limited Standard Chartered Bank Limited Development Financial Institutions Pakistan Industrial Credit and Investment Corp. Limited Pak Kuwait Investment Company (Pvt) Limited Pak Libya Holding Company (Pvt) Limited Pak-Oman Investment Company (Pvt) Limited Saudi Pak Industrial and Agricutural Investment Company (Pvt) Limited Investment Banks Crescent Investment Bank Limited First International Investment Bank Limited Atlas Investment Bank Limited Security Investment Bank Limited Fidelity Investment Bank Limited Prudential Investment Bank Limited Islamic Investment Bank Limited Asset Investment Bank Limited Al-Towfeek Investment Bank Limited Jahangir Siddiqui Investment Bank Limited Franklin Investment Bank Limited Orix Investment Bank (Pak) Limited