Iran is selling tomatoes to Pakistan at $1.10 per kilogram. The price stands near Rs. 160-170 per kg for Pakistani importers, much higher than the locally produced tomatoes. Due to lack of trade with India the price of tomatoes soared up as shortage increased in the market and the price reached as high as Rs 350 per kg. The increase in price prompted the government to take remedial measures.
The trade ties between Pakistan and the United States are set to witness a new record this year as U.S. President Donald Trump and Prime Minister Imran Khan have reaffirmed their commitment for a stronger relationship, said the White House. Recalling their conversations in Washington and New York, the two leaders agreed to deepen bilateral collaboration, including at relevant multilateral fora.
A US-based defense weekly, Jane’s 360 has revealed that Pakistan now possesses a state-of-the-art radar system. The defense analysts have identified a JY-27A counter-very-low-observable (CVLO) radar at Mianwali Air Base of Pakistan Air Force. The jamming-resistant and highly mobile VHF radar uses an active phased array antenna capable of detecting stealth aircraft like F-22 from a distance of 500 km.
Ministry of Information Technology (MoIT) is all set to manufacture SIM and smart cards locally for the first time in history, on the instructions of Prime Minister Imran Khan. The MoIT has acquired the technology to manufacture these cards in Pakistan adhering to the quality standards as they were being imported from China and other countries previously, which would help reduce the imports bill of the telecom sector.
Pakistan has won the World Junior Scrabble Championship 2019 in England. Young Imad Ali was the find of the tournament, who became the youngest junior world champion to have lifted the trophy at the age of 13.He maintained the first position in all three days of the competition by winning 17 out of 20 matches he played. Pakistan players maintained dominance in other ther age groups as well.
Skyrocketing shop rents in major Pakistani shopping malls is forcing menswear apparel businesses to operate online and reduce number of shops. The rent of shops in big shopping malls in Pakistan was higher than the rent charged in US. A shop measuring 1,000 square metres anywhere in North America could be rented for $5,000 per month but in Pakistan rent is much higher.
After a gap of more than four years, Pakistan posted $99 million current account surplus in October. The latest data released by State Bank of Pakistan (SBP) showed recovery from long prevailing deficits, but four-month current account position still showed a deficit of $1.5 billion. Current account deficit in last fiscal year, clocked in at $12.75bn, down 36 per cent from record-high $19.9bn in FY18.
Pakistan’s Federal Minister for Defence Production Zubaida Jalal while speaking to a local news channel revealed that Pakistan has received three times more foreign exchange this financial year by exporting defence related products. “More than $200 million (Rs31 billion) has been earned by defence production’s export and this amount would increase in coming years”, she informed at the sidelines of the Dubai airshow.
According to statistics from the media, Pakistan’s commercial import of mobile phones has increased by 110 percent in one year. In 2018, 9,564,424 mobile phones were imported, whereas, in 2019, the number stands at 19,834,465 mobiles and the reason behind is said to be successful implementation of the new mobile phone registration system by the Pakistan Telecommunication Authority (PTA).
Pakistani commando Arsalan Anwar hailing from Sindh, Pakistan has won gold medal in the Asian International Defensive Pistol Association Cup (IDPA) competition held in Bangkok. More than 100 shooters from 10 Asian countries participated in the event but Arsalan beat them all by hitting 118 targets in 6.16 minutes in the final round of practical shooting. Furthermore, he also secured 3rd position in the international category.