Latest news with #ADNANAAMIR
Nikkei Asia
5 days ago
- Business
- Nikkei Asia
New Central Asia-Pakistan rail plan faces funding, security issues
A worker carries a bucket of water as he walks on railway tracks in Karachi, Pakistan. A plan by Uzbekistan, Afghanistan and Pakistan to construct a railway link has raised questions about feasibility. © Reuters ADNAN AAMIR ISLAMABAD -- Uzbekistan, Afghanistan and Pakistan signed a framework agreement last week to build a railway line connecting landlocked Central Asia to Pakistani seaports, although analysts say the financing of the project remains unclear. The governments signed the plan for a feasibility study on July 17 to build the so-called UAP Railway Corridor that will extend an existing link between Termez in Uzbekistan and Naibabad in Afghanistan to Kurram district in northwest Pakistan. From there, a 192-kilometer railway track will be built by Pakistan to connect with the local railway system which runs to Karachi port in the south.
Nikkei Asia
18-07-2025
- Business
- Nikkei Asia
Pakistan Senate committee backs local rival to Visa, Mastercard
Pakistan launched PayPak in 2016 as the country's first and only domestic payment standard. It competes with international rivals such as Visa and Mastercard. (Source photos by Akitoshi Sugiura and from PayPak website) ADNAN AAMIR ISLAMABAD -- Members of an influential Pakistani Senate committee are calling for all debit cards in the country to be issued under the nation's domestic payment scheme, potentially threatening international peers such as Visa and Mastercard in a key South Asian market. The Senate Standing Committee on Finance and Revenue last week urged the country's central bank to mandate the use of PayPak for all local debit and credit cards.
Nikkei Asia
14-07-2025
- Business
- Nikkei Asia
Pakistan courts Chinese investors ahead of $250m panda bond debut
Bonds Move aims to cut borrowing costs and enter China's financial markets Issuances of panda bonds -- yuan-denominated bonds issued by foreign entities to raise money in China's domestic bond market -- hit $26.5 billion in 2024, marking an annual record, according to Deutsche Bank Research. © Reuters ADNAN AAMIR ISLAMABAD -- Pakistan is making all-out efforts to prepare its first-ever panda bond issuance this year, with its finance ministry holding a non-deal roadshow last week in Beijing to attract investment. "The ministry's delegation engaged in technical discussions with potential investors, underwriters, prospective guarantors, the Chinese Rating Agency, and Chinese legal counsel as part of the pre-marketing process for the debut issuance," Khurram Schehzad, adviser to the minister, posted on X.
Nikkei Asia
11-07-2025
- Business
- Nikkei Asia
Temu's 300% price hike after new tax sparks debate in Pakistan
Retail Experts warn tax-driven cost increases will hurt consumers, digital economy Temu customers in Pakistan have seen the price of a pair of sunglasses jump from 500 to 2,000 rupees, while a thermometer that once cost 1,200 rupees now goes for 3,800 rupees. © Reuters ADNAN AAMIR ISLAMABAD -- Temu, a Chinese e-commerce platform, has raised prices for customers in Pakistan by up to 300% following the government's decision to impose new taxes on online sellers last month. Experts say the tax measures will hurt consumers and potentially slow the growth of Pakistan's digital economy.
Nikkei Asia
03-07-2025
- Politics
- Nikkei Asia
Pakistan urges India to abide by water treaty after Hague court ruling
The Indus River as it runs through Hyderabad, Pakistan, on April 25. Although the Permanent Court of Arbitration has issued a ruling in Pakistan's favor, the country's water treaty impasse with India is likely to continue as the court lacks enforcement powers. © Reuters ADNAN AAMIR ISLAMABAD -- With a ruling handed down last week by the Permanent Court of Arbitration that favors its position, Pakistan is now calling on India to resume the implementation of a bilateral water-sharing treaty. Experts say that while the ruling strengthens Islamabad's legal position, New Delhi is unlikely to go back to abiding by the treaty. The 65-year-old Indus Waters Treaty (IWT) grants Pakistan rights to water from the Indus, Jhelum and Chenab rivers, while granting India control of the Ravi, Sutlej and Beas rivers. Following a deadly attack on tourists in India-administered Kashmir in April, New Delhi blamed Pakistan and unilaterally declared the treaty to be in abeyance.
