Skip to content
Search

Latest Stories

‘Difficult but not impossible’: Pakistan seeks $5 billion bilateral trade with Turkey

Shehbaz Sharif promises all facilities to Turkish investors

‘Difficult but not impossible’: Pakistan seeks $5 billion bilateral trade with Turkey

PAKISTAN prime minister Shehbaz Sharif has invited Turkish businesses to invest in his country, saying Islamabad “sincerely” seeks to strengthen bilateral ties with Ankara.

Promising that his government would provide “all facilities” to investors, he said alternative energy, automobile industry and agriculture sectors of Pakistan offered ample business opportunities.

Sharif told the Turkey-Pakistan Business Council in Ankara on Wednesday (1) that the two countries, which “supported each other through thick and thin”, should explore opportunities in the textile industry where a joint strategy would further boost the sector.

Islamabad and Ankara should achieve an ambitious bilateral trade target of $5 billion which was “difficult but not impossible”, Shehbaz, who came to power amid rising inflation and depleting forex reserves in his country, said.

“Your active participation in investments in Pakistan is highly appreciated. And above all your participation in humanitarian projects in Pakistan is very well-known. Today, we are here to seriously engage ourselves with you because you are very serious-minded business people, and your achievements are outstanding and a shining example for all of us,” he said.

“We genuinely and sincerely want to work with the Turkey Business fraternity to transform our brotherhood into promoting our bilateral trade, investment and culture,” the south Asian country’s information and broadcasting minister Marriyum Aurangzeb quoted the prime minister as saying.

Sharif’s invitation to Turkish investors comes as Pakistan is buckling under crippling debt and a falling currency.

Pakistan foreign minister Bilawal Bhutto Zardari had visited its weather ally China recently as Islamabad sought to address its economic headwinds, complicated by the rising fuel costs and a delayed IFM help.

The downturn was used to oust former prime minister Imran Khan from office, but the new government is now facing the gruelling task of bolstering the economy.

Its currency has been nosediving against the dollar and breached the Rs 200 mark, before rebounding to 197.72 on Wednesday (1).

More For You

british-muslims-iStock

The study noted that this identification was not due to any doctrinal obligation but was influenced by the perception that many Muslims do not feel fully accepted as British. (Representational image: iStock)

iStock

Majority of British Muslims identify by faith first, study finds

A STUDY by the Institute for the Impact of Faith in Life (IIFL) has found that most British Muslims identify primarily with their religion rather than their nationality.

The research, based on a survey of 815 British Muslim adults by Whitestone Insight, revealed that 71 per cent of respondents identified as Muslim first, while 27 per cent identified as British, English, or Scottish first.

Keep ReadingShow less
Car Tax Changes: EV Owners Now Required to Pay for the First Time

Owners of electric vehicles registered on or after 1 April 2025 will pay £10 for the first year, followed by the standard VED rate of £195 from the second year. (Representational image: iStock)

iStock

Car tax changes take effect: EV owners to pay for first time

FROM today, 1 April 2025, electric cars, vans, and motorcycles in the UK will be subject to Vehicle Excise Duty (VED) for the first time.

The change, introduced in the 2022 Autumn Statement by former Conservative Chancellor Jeremy Hunt, aims to make motoring taxation fairer.

Keep ReadingShow less
scotland-minimum-wages-iStock

Full-time workers on the National Living Wage will receive an annual pay increase of £1,400 in real terms. (Representational image: iStock)

iStock

Wage increase takes effect for thousands of workers in Scotland

HUNDREDS of thousands of workers in Scotland will see a pay increase as new National Living Wage and National Minimum Wage rates take effect from Tuesday.

The changes will benefit approximately 220,000 people, according to STV News.

Keep ReadingShow less
uk-energy-bill-iStock

Water bills, energy prices, and council tax are rising, while the minimum wage has also increased (Representational image: iStock)

iStock

April bill increases put financial strain on single parents

A RANGE of essential household bills are increasing from April, with Citizens Advice warning that single parents will be among the hardest hit.

Water bills, energy prices, and council tax are rising, while the minimum wage has also increased, BBC reported.

Keep ReadingShow less
Netflix drama Adolescence to be screened in UK schools
Stephen Graham and Owen Cooper in 'Adolescence'
Netflix

Netflix drama Adolescence to be screened in UK schools

THE NETFLIX drama Adolescence will be shown in UK secondary schools as part of efforts to address harmful online influences on young boys, officials announced on Monday.

The show has sparked debate over the impact of toxic and misogynistic content on the internet. Prime minister Keir Starmer met the show's creators, charities, and young people at Downing Street, calling the initiative an important step in starting discussions about the content teenagers are exposed to online.

Keep ReadingShow less