logo
Pak-Kyrgyz rail link discussed

Pak-Kyrgyz rail link discussed

ISLAMABAD: The Ambassador of Kyrgyzstan to Pakistan, Avazbek Atakhanov, Friday, called on the Federal Minister for Railways, Hanif Abbasi, to discuss matters related to Pakistan-Kyrgyzstan rail link and invited Railways minister to attend the meeting of the Pakistan-Kyrgyzstan Intergover nmental commission next month.
During the meeting both the sides, while expressing determination to further strengthen railway cooperation, agreed to promote economic, cultural and trade relations. Abbasi emphasised on improving trade links and travel facilities between the two countries. The ambassador Kyrgyzstan of appreciated the government's economic policies and said that Pakistan's current situation has improved and the economy has strengthened.
Pakistan and Kyrgyzstan discuss technical exchanges and joint projects for development in the railway sector. 'Railway cooperation between Pakistan and Kyrgyzstan will improve economic relations and strengthen people-to-people contacts,' Abbasi said.
Abbasi stressed the need to strengthen relations with Kyrgyzstan and other Central Asian Republics (CARs), saying railways has great potential to not only serve the travellers but also goods transport. He assured full support for increasing cooperation in the railway sector with Kyrgyzstan.
The Ambassador of Kyrgyzstan invited Railways Minister Abbasi to attend the meeting of the Pakistan-Kyrgyzstan Inte rgovernmental Com mission.
On February 26, 2025, Uzbekistan and Pakistan during Prime Minister Shehbaz Sharif's visit to Uzbekistan had agreed to establish a tripartite committee with Afghanistan to address issues that are hindering the implementation of a proposed railway project connecting the three countries.
According to officials, Russia is also keen to participate in the Trans-Afghanistan rail link and Russia has signed an agreement with Uzbekistan. According to Russia's Ministry of Transport, two possible routes are under consideration: Route (i) Mazar-e-Sharif – Herat – Dilaram– Kandahar – Chaman (Pakistan) and (ii) Route 2: Termez (Uzbekistan) – Naibabad – Logar – Harlachi (Pakistan).
Copyright Business Recorder, 2025

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Key highlights of Pakistan Economic Survey 2024-25
Key highlights of Pakistan Economic Survey 2024-25

Business Recorder

time2 hours ago

  • Business Recorder

Key highlights of Pakistan Economic Survey 2024-25

Finance Minister Muhammad Aurangzeb unveiled the Pakistan Economic Survey 2024-25 on Tuesday, recapping the annual report on the country's economic progress for the outgoing financial year. Pakistan missed its GDP growth target of 3.6% in the outgoing fiscal year, posting a figure of 2.7%, revealed the Economic Survey 2024-25. According to the provisional figures provided by the survey, Pakistan's agriculture sector, industries and services sector registered subdued growth of 0.56%, 4.77% and 2.91%, respectively, during the outgoing fiscal year. Commenting on the global economy, Aurangzeb noted that the global GDP growth in 2023 stood at 3.5%, which was reduced to 3.3% in 2024 and is now projected to be 2.8% according to the latest estimates. Business Recorder presents major highlights of the document that is mostly based on July-March/April of FY25 figures.

Will the budget provide ‘deep reforms startups truly need to thrive'?
Will the budget provide ‘deep reforms startups truly need to thrive'?

Business Recorder

time2 days ago

  • Business Recorder

Will the budget provide ‘deep reforms startups truly need to thrive'?

With the budget announcement just around the corner, Business Recorder spoke to several people associated with the country's startup ecosystem to understand their hopes and expectations. Amid dwindling startup funding, some remain optimistic, while others believe the budget will only provide surface-level policies that will not truly go to the heart of the needs of the ecosystem. According to Syed Azfar Hussain, Project Director Project Director National Incubation Center Karachi the upcoming budget, expected to be announced on June 10, 'can significantly support startups by including seed grants,tax incentives, and export facilitation.' He told Business Recorder that investment in digital infrastructure like cloud services and skills development will also help startups scale more efficiently as will support for innovation through public procurement. When asked if his expectations align with what he would like to see in the budget, he said he was optimistic. 'The government has shown increased interest in promoting the digital economy. We hope to see continued support for the Pakistan Software Export Board, which has advanced freelancer training and IT export promotion including the recent Digital Foreign Direct Investment event in Islamabad, and the Ignite National Technology Fund, whose role in funding incubation, R&D, and entrepreneurial programs has been vital.' Pakistan secures $700m in investment pledges at first Digital Foreign Direct Investment forum He believes that if these efforts are further facilitated and expanded in the budget, 'it will align well with our hopes for a stronger startup ecosystem.' Meanwhile a spokesperson at flexible workspace startup COLABS said that while some support is expected for the startup ecosystem, such as tax relief for the IT sector, youth loan schemes and digital service expansion, 'it has been apparent that these measures only tend to scratch the surface.' Major challenges faced by startups like fragmented tax systems, regulatory uncertainty, limited access to finance, remain largely unaddressed, they said. Their conclusion is that while the budget may offer some help, it still falls short of delivering the deep reforms startups truly need to thrive. 'We hope that the budget has taken into account expert advice that aligns with the startup and venture capital landscape so as to further address the issues of combating large import vs., export bills,' they added. When asked what they would like to see from the government, they explained that access to capital remains one of the biggest hurdles for early-stage founders and scale ups. For this reason, budget provisions that support government-backed venture funds or credit guarantees can be game changers, 'by de-risking investment and encouraging private capital as well via tax incentives and lower interest rates for financing.' COLABS called for public funding for accelerators and startup hubs, especially in and around smaller cities, as it believes this will help grow an inclusive ecosystem by leveling the playing field for startups and SMEs. 'In fact, we hope that enabling space providers as strategic partners to this end will help contribute to the larger startup ecosystem and entrepreneurial community.' Simplified procedures were also on the company's wishlist. The representative said COLABS hoped the budget will introduce policies to add to the ease of doing business and moving with global best practice, introduce simplified and harmonized tax policies, offer tax holidays or incentives for early-stage ventures, and streamline registration, compliance and tracking through a one-window digital portal. Hamad Dawood, founder of the e-commerce concierge service Farmaish, echoed some of these thoughts. He believes 'Building a startup is already hard, so compliance should be a lot easier.' He said Farmaish is a small, bootstrapped e-commerce startup 'so I am liable to pay GST, but Saddar importers, and wholesalers can get away without paying it. So either I'm compliant or I'm priced out of the market by 18% and customers always want to save money.' He also called for a tax holiday for at least 5 years: 'Let companies have a realistic chance to build before they start being taxed.' On his wish list is tax credits for the investments that startups make early and ⁠an easier, simpler framework to understand and follow.

Islamabad: rates of sacrificial animals increase
Islamabad: rates of sacrificial animals increase

Business Recorder

time3 days ago

  • Business Recorder

Islamabad: rates of sacrificial animals increase

ISLAMABAD: The prices of sacrificial animals have registered an increase of 75-100 per cent this year as compared with the prices of past year, revealed a survey carried out by Business Recorder. Animal traders have stated various reasons for such a huge increase in the prices including increased input costs, transportation costs, government fees and others. While the buyers have condemned animal traders for unilaterally increasing prices manifold, saying in the past they had some valid reasons but this year there is no smuggling to Afghanistan, petrol/ diesel prices are stable for the past one year, fodder prices have also not increased and the authorities have better managed animal market ridding the traders of extortion. According to buyers, on this Eidul Adha the prices of animals across major cities like Lahore, Karachi, and Islamabad have skyrocketed, resulting in leaving many buyers frustrated, with rates rising by up to 75 to 100 per cent compared to last year. Last year, a smaller heifer could be purchased for Rs100,000-125,000, but this year even a low-weight one is priced at Rs200,000 or more. Buyers are increasingly voicing concerns about the lack of official regulation in animal pricing, which has led traders to set prices arbitrarily, forcing consumers to haggle for a better deal. Animals are primarily sourced from larger markets in Punjab and Sindh, with medium-sized traders incurring additional costs for transportation to metropolitans like Karachi and Lahore, including fuel, taxes, and maintenance at the local markets, which include expenses for lighting and security. Once all these costs are accounted for, traders add their margin, which can range from Rs15,000 to Rs50,000 for smaller animals and up to Rs200,000 for larger ones. A bull with three maunds of meat was priced between Rs 120,000 to Rs150,000 last year, whereas, this year, the price ranges from Rs150,000 to Rs200,000. Mosques have fixed the price of one share in a cow or bull between Rs40,000 to Rs50,000 against Rs35000 to Rs50,000 per share last year. Cattle farms in major cities such as Karachi, Lahore, Rawalpindi, and Islamabad cater to the demand for large animals, with prices ranging from Rs0.5 million to over Rs10 million for some elite bulls. The goat market has also seen similar price increases. Medium-weight goats, which were previously sold for Rs30,000 to Rs35,000, are now priced between Rs60,000 and Rs75,000. Rates of some goats are reaching up to Rs300,000 depending on their breed and build. Rams and sheep are also experiencing a price surge, with prices ranging from Rs40,000 to Rs200,000 or more, influenced by factors like weight and appearance. Camel prices have also increased, with traders noting a growing interest in camel sacrifices over the past two years. Camels brought in from different parts of Sindh are now priced at Rs400,000 and above. According to a preliminary data compiled by Pakistan Tanners Association (PTA), in 2024 around 6.8 million sacrificial animals were slaughtered on Eid-ul-Adha of which 2.9 million cows, 3.3 million goats, 385,000 sheep, 165,000 buffalos and 98,700 camels. The PTA estimated total value of the animals at $1.8 billion or Rs500 billion. The value of sacrificial animals' hides in 2024 was estimated at around 30 million. Copyright Business Recorder, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store