
Gohar Ejaz praises trade deal with US
EPBD terms SBP decision 'very conservative'
'The US has imposed higher tariffs on our competing countries', said Ejaz, adding that he hoped that US will further reduce tariff for Pakistan. He further said that emergency measures should be taken for an export-oriented economy and utilise the opportunity to the full. He also congratulated to team Pakistan on successful trade deal with the US.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Express Tribune
4 hours ago
- Express Tribune
Pakistan starts deporting registered Afghan refugees
Listen to article Pakistan has started to deport documented Afghan refugees ahead of its deadline for them to leave, according to the United Nations, in a move that could see more than 1 million Afghans expelled from the country. The United Nations High Commissioner for Refugees said that it had received reports of arrests and expulsions of legally registered Afghans across the country before Pakistan's September 1 deadline for them to leave. The UNHCR said that sending the Afghans back in this way was a breach of Pakistan's international obligations. "UNHCR is calling on the government to stop the forcible return and adopt a humane approach to ensure voluntary, gradual, and dignified return of Afghans," it said in a statement. Read More: Afghan card holders to be deported from Sept 1 The voluntary return of the documented refugees shall commence forthwith, said a Pakistan's interior ministry order seen by Reuters. It said the formal deportation process will start after the deadline. But Qaisar Khan Afridi, a spokesman for the UNHCR, told Reuters on Wednesday that hundreds of legally registered Afghan refugees had already been detained and deported to Afghanistan from August 1 to August 4. The interior ministry did not respond a Reuters request for a comment. More than 1.3 million Afghans hold documentation known as Proof of Registration cards, while 750,000 more have another form of registration known as an Afghan Citizen Card. Many Afghans have been settled in Pakistan since the 1980s, to escape cycles of war in Afghanistan. "Such massive and hasty return could jeopardize the lives and freedom of Afghan refugees, while also risking instability not only in Afghanistan but across the region," UNHRC said. Pakistani authorities have said that Islamabad wants all Afghan nationals to leave except for those who have valid visas. The repatriation drive by Pakistan is part of a campaign called the Illegal Foreigners Repatriation Plan launched in late 2023. Also Read: NA passes resolutions against honour killings, digital harassment Pakistan has in the past blamed militant attacks and crimes on Afghan citizens, who form the largest migrant group in the country. Afghanistan has rejected the accusations, and has termed the repatriations as forced deportation. In addition to the repatriation from Pakistan, Afghanistan also faces a fresh wave of mass deportations from Iran. Aid groups worry that the influx risks further destabilizing the country.


Business Recorder
8 hours ago
- Business Recorder
Pakistan, Iraq agree on maritime ferry link to boost trade, tourism
Pakistan and Iraq have agreed to launch a ferry service connecting Umm Qasr Port in Iraq with Gwadar Port in Pakistan, in a move officials say will strengthen maritime cooperation, expand trade, and facilitate religious travel. The understanding was reached during a meeting between Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and a three-member Iraqi Embassy delegation led by Deputy Head of Mission Abdulqadir Sulyman Alhimiri, the ministry said in a statement. Terming the MoU a 'new chapter' in bilateral ties, Chaudhry said passenger and cargo links could capitalise on growing economic ties and religious travel. He noted Pakistan could meet Iraq's potassium sulphate requirements through a manufacturing facility in the Gwadar Free Zone, and sought Baghdad's support for Pakistan's candidacy in the upcoming International Maritime Organisation (IMO) elections. Pakistan grants first-ever ferry licence for routes to Iran, gulf countries The minister proposed expanding Pakistani exports of medicines, meat, and rice to Iraq while increasing Iraqi oil imports to Pakistan. According to official data, Pakistan's exports to Iraq stood at $54.29 million in FY24, while imports, mainly petroleum products, were $145.46 million. Chaudhry said the ferry link would complement similar initiatives with Iran and Gulf Cooperation Council countries, potentially forming a regional maritime network under Pakistan's blue economy strategy. Alhimiri voiced strong support for the proposals, calling maritime transport a 'key enabler' for future collaboration. Both sides agreed to carry out feasibility studies to assess investment needs. Officials noted that more than 88,000 Pakistani pilgrims travelled to Iraq for Ashura last year, underscoring potential demand for regular sea routes serving both pilgrims and traders. If realised, the ferry service could lower transport costs, improve logistics, and enhance access to broader Asian markets for Iraq while boosting bilateral trade.


Business Recorder
9 hours ago
- Business Recorder
Pakistan rupee snaps two-week rally against US dollar
Rupee's Performance Against US Dollar Since 04 March 2025 After ten consecutive sessions of positive momentum, the Pakistani rupee registered a decline against the US dollar, depreciating 0.04% in the inter-bank market on Wednesday. At close, the currency settled at 282.67, a loss of Re0.10. On Tuesday, the currency settled at 282.57. Internationally, the US dollar was rangebound on Wednesday, with investors choosing to stay on the sidelines ahead of US President Donald Trump's pick to fill a coming vacancy on the Federal Reserve's Board of Governors. Trump said on Tuesday he will decide on a nominee by the end of the week and had separately narrowed the possible replacements for Fed Chair Jerome Powell to a short list of four. Data out the same day also showed the US services sector activity unexpectedly flatlined in July even as input costs climbed by the most in nearly three years, underscoring the hit from Trump's tariffs on the economy, which has also begun to bite corporate earnings. Still, those did little to sway the dollar, as traders were hesitant to take on fresh positions ahead of news on who would fill the Fed board vacancy. Concerns are mounting that partisan loyalty would invade the staid world of central bank policy. The dollar was last little changed at 147.54 yen, while the euro ticked up 0.02% to $1.5760. Sterling last bought $1.3304. Against a basket of currencies, the dollar was last at 98.76, still some distance away from its peak of 100.25 hit on Friday before the nonfarm payrolls figures. Traders continue to price in an over 90% chance of a Fed cut in September, with about 58 basis points worth of easing expected by the year-end. Oil prices, a key indicator of currency parity, rebounded from the previous session's five-week low on Wednesday, as traders focused on US President Donald Trump threatening India with higher tariffs over its Russian crude purchases, and a larger-than-expected US crude draw. Brent crude futures gained $1.11, or 1.6%, to $68.75 a barrel by 1119 GMT, while US West Texas Intermediate crude was up $1.12, or 1.7%, at $66.28 a barrel. Inter-bank market rates for dollar on Wednesday BID Rs 282.67 OFFER Rs 282.87 Open-market movement In the open market, the PKR gained 12 paise for buying and remained unchanged for selling against USD, closing at 284.22 and 285.15, respectively. Against Euro, the PKR lost 62 paise for buying and 81 paise for selling, closing at 328.53 and 330.45, respectively. Against UAE Dirham, the PKR gained 3 paise for buying and lost 5 paise for selling, closing at 77.36 and 77.65, respectively. Against Saudi Riyal, the PKR gained 1 paisa for buying and remained unchanged for selling, closing at 75.65 and 75.95, respectively. Open-market rates for dollar on Wednesday BID Rs 284.22 OFFER Rs 285.15