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  • Amount of diyat (compensation) for 2021/2022 announced

    Amount of diyat (compensation) for 2021/2022 announced

    ISLAMABAD – The federal government has officially announced the amount of diyat for the fiscal year 2021-2022, fixing it at Rs 4.26 million. This amount corresponds to the value of 30,630 grams of silver, as prescribed under Islamic injunctions and outlined in the Pakistan Penal Code (PPC).

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  • ECC approves hike in prices of sugar, wheat flour, edible ghee

    ECC approves hike in prices of sugar, wheat flour, edible ghee

    ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Friday approved increase in prices of three essential items.

    Shaukat Tarin, Federal Minister for Finance and Revenue chaired the meeting.

    Ministry of Industries and Production presented a summary regarding extension of the Prime Minister’s Relief Package-2020. The package has provided subsidies on five essential commodities from July 15, 2021 to September 30, 2021. The extension has been provided till the Enterprise Resource Planning (ERP) system becomes fully operational.

    Moreover, the ECC also approved the revision in prices of three essential commodities namely Atta (20 kg bag) to Rs. 950, Ghee (per kg) to Rs. 260 and Sugar (per kg) to Rs. 85 respectively. The increase was granted because of increasing gap between the subsidized prices and the prevailing market prices.

    The committee approved revision in prices of three essential commodities to rationalize provision of subsidies by the Utility Stores Corporation (USC).

    Federal Minister for National Food Security and Research Fakhar Imam, Federal Minister for Energy Hammad Azhar, SAPM on Finance and Revenue Dr. Waqar Masood, SAPM on Power and Petroleum Tabish Gauhar, SAPM on Youth Affairs Usman Dar, Secretary Finance Division, Secretary Communication, Secretary M/o Industries and Production, Governor SBP, Chairman PTA and other senior officers participated in the meeting.

    The ECC considered and approved a summary regarding the elimination of documents attestation fee for goods imported into Pakistan from Kenya as this Non-Tariff Measure (NTM). The decision by the Committee would facilitate trade between the two countries and enhance Pakistan’s market share in the region.

    The ECC approved a summary regarding non-cash settlement for power sector re-lent loans against subsidies payable by the government amounting Rs.116 billion.

    The ECC approved “Kamyab Pakistan Program”. A flagship program which shall extend micro-loans to entrepreneurs and farmers under “Kamyab Karobar” and “Kamyab Kissan” schemes respectively.

    The program shall also provide low cost housing loans through NAPHDA. The Kamyab Pakistan Program also includes ongoing skill development program for educational and vocational training under the title “Kamyab Hunarmand”.

    The Kamyab Pakistan Program is aimed at extending loans to 04 million households at the lowest strata, as registered with the National Socio Economic Registry (NSER) of Ehsaas. Loans worth Rs.0.5 million, Rs.0.150 million and Rs.0.2 million through Micro-Finance Providers for Kamyab Karobar and Kamyab Kissan at 0% mark up will be provided. The third component of the scheme is introduction of a new tier in Naya Pakistan Low Cost Housing Scheme wherein loans of Rs.2.7 million (for NAPHDA) and Rs.2 million (for Non-NAPHDA) projects will be given at subsidized rates.

    The salient features of the Kamyab Pakistan Program include loan size of Rs.150,000 (per crop) for purchase of agricultural inputs. The commutative disbursement under the program would be Rs.1.6 billion over the period of 03 years. It shall benefit 30,00,000 families.

    The ECC commended all concerned for working out such a detailed program aimed at “bottom-up approach” for reducing poverty as envisaged by the Prime Minister.

    The Finance Minister stated that the consultative process was followed in working out modalities of the Kamyab Pakistan Program ensuring that all relevant stakeholders are on board and micro-loans shall be disbursed as per the given criteria.

    The ECC also considered and approved the Draft Policy Directives related to Auction of Next Generation Mobile Services (NGMS) in Azad Jammu & Kashmir (AJK) as submitted by the Ministry of Information Technology and Telecommunication before the Committee. This is the first time that the NGMS will be auctioned in AJK and it will improve mobile broadband services in the region.

    Moreover, ECC also decided that for the payment of the Auctioned licence fee, the method in-vogue in the earlier auction processes will be followed. Ministry of Maritime Affairs presented a summary regarding award of Engineering Consultancy Service contract for up-gradation of Port Qasim Authority (PQA) amounting to Rs.86.6 million.

    The ECC approved the execution of the project. ECC allowed Post Qasim Authority, Karachi Port Trust and Gwadar Port Authority Boards to transfer their Marine assets to the Pakistan Marine and Shipping Services Company Private Limited (PMSSC), a subsidiary of Pakistan National Shipping Corporation.

    The maximum rates to be charged by the Pakistan Marine & Shipping Services Company (PMSSC) from the Public Sector ports & harbours shall be determined from time to time by Ministry of Maritime Affairs through a notification in official gazette.

    The Ministry of National Food Security and Research (M/o NFS&R) presented a summary regarding procurement of 200,000 cotton bales by TCP to promote cotton production and bring stability in the domestic market.

    The ECC also approved formation of Cotton Price Review Committee (CPRC) with a mandate to review market price and propose intervention at fortnightly basis.

    The ECC also approved a summary by the M/o Industries and Production for importing 200,000 metric tons of sugar to build strategic reserves and minimize the role of speculative elements in the domestic market. In case of need more reserves will be built through import, the ECC decided.

    ECC approved the amendment in its earlier decision dated 19-02-2021 regarding the “Prime Minister’s” fiscal package for Agriculture in the wake of COVID-19 Kharif”. The package offered subsidy on DAP@1500Rs/acre for cotton and rice crops, during the Kharif Season 2021. Now according to the amendment, the farmers can avail subsidy on any phosphatic fertilizer according to their choice.

  • Foreign direct investment declines by 28.9% in 2020/2021

    Foreign direct investment declines by 28.9% in 2020/2021

    KARACHI: The foreign direct investment (FDI) into Pakistan has declined by 28.9 percent during fiscal year 2020/2021, the State Bank of Pakistan (SBP) said on Friday.

    Inflow of FDI recorded at $2.059 billion during fiscal year 2020/2021. It was $2.316 billion in previous fiscal year.

    Total foreign private investment declined by 11.1 percent to $2.058 billion during 2020/2021. It was $2.315 billion in previous fiscal year.

    Inflow of portfolio investment in capital market increased to $211.5 million during fiscal year 2020/2021. It was an outflow of $281.7 million in preceding fiscal year.

    However, the total inflows of foreign investment into Pakistan have registered 122.4 per cent increase during fiscal year 2020/2021.

    The total inflows of foreign investment increased to $4.614 billion during fiscal year 2020/2021 as compared with $2.074 billion in the preceding fiscal year.

    The foreign public investment registered a phenomenal increase to inflows of $2.555 billion during fiscal year under review as compared with an outflow of $241.3 million in the preceding fiscal year.

  • Economic momentum likely to accelerate further in FY22: SBP

    Economic momentum likely to accelerate further in FY22: SBP

    KARACHI: The State Bank of Pakistan (SBP) has said that the economic momentum is expected to accelerate further during FY22.

    The optimistic outlook is premised on the expanding vaccine roll-out and relatively unhindered continuation of economic activity despite Covid-19, the SBP said in it’s the Third Quarterly Report on the State of Pakistan’s Economic for the Fiscal Year 2020/2021 released on Friday.

    Temporary Economic Refinance Facility (TERF), which provides long-term lending for industrialization), the policy-led surge in construction and housing, and increased Public Sector Development Program (PSDP) spending, are also likely to be key growth drivers.

    According to the report, there was growing evidence that the economic recovery gathered further momentum during the third quarter of FY21. The turnaround in the industrial sector, particularly large scale manufacturing (LSM), and the services sector, most notably in wholesale and retail trade, played a pivotal role.

    In the agriculture sector, record output of four out of five important crops – namely wheat, rice, maize and sugarcane – offset the decline in cotton production. Further growth in high frequency demand indicators, such as local cement dispatches, Petroleum Oil and Lubricants (POL) and car sales, consumer financing, sales of Fast Moving Consumer Goods (FMCG), and power generation, reflected the accelerating rebound in economic activity. Against this backdrop, real GDP growth is provisionally estimated to be 3.9 percent for the full year, compared to a contraction of 0.5 percent in FY20.

    These favorable outcomes were supported by the pro-active response of policymakers to the evolving pandemic. In addition to containment of the virus through smart lockdowns, targeted fiscal support while containing the deficit, a highly accommodative monetary policy stance, aggressive refinance facilities provided by the SBP to counter the health, employment and cash flow implications of the pandemic, as well as incentives and relief offered by the government and the SBP to households and businesses collectively lifted the economy out of last year’s Covid-induced recession.

    Even as the economy rebounds strongly, stability in key macroeconomic indicators on the fiscal and external side were an additional source of comfort, as the current account and primary balance both remained in surplus during July-March FY21. The external account received significant support from workers’ remittances – which rose by US$ 4.5 billion to touch a record-breaking level of US$ 21.5 billion during July-March FY21 – as well as deferred interest payments on external debt through the G20 Debt Service Suspension Initiative (DSSI), curbs on international air travel, and lower global oil prices. Meanwhile, on the financing side, inflows from commercial, bilateral and multilateral sources were supplemented by new inflows under Roshan Digital Accounts, which crossed the US$ 1 billion mark in April 2021. Furthermore, the successful completion of the 2nd-5th IMF reviews unlocked US$ 500 million in direct financing from the Fund. Also, Pakistan reentered the international capital markets after a gap of over 3 years in early April 2021. As a result, SBP’s foreign exchange reserves rose to a three-year high of US$ 13.5 billion by end-March 2021, and the current account remained in surplus through the first three quarters for the first time since FY04.

    The July-March fiscal deficit of 3.5 percent was lower than the 4.1 percent deficit in the comparable period last year. This was mainly attributed to a rationalization of spending, particularly a slowdown in non-priority current expenditure, and a robust increase in taxes. However, interest payments remained a significant burden, and continued to constrain the fiscal space for development spending. Besides the lower fiscal deficit, the revaluation gains from PKR appreciation and DSSI relief contributed to a reduced pace of debt accumulation during July-March FY21 compared to the same period last year.

    Average headline inflation was lower than last year, both for the July-March FY21 period and for Q3-FY21. The third quarter outturn was mainly attributable to a deceleration in January 2021, led by the food and poultry groups. However, rising prices of electricity, sugar, edible oil, cotton cloth and readymade garments drove up inflation during February and March 2021. 

    Credit to the private sector was nearly 50 percent higher during July-March FY21 compared to last year.  The third quarter witnessed a slowdown though, primarily due to retirements of short-term loans. By contrast, the SBP’s concessionary refinance schemes, such as the Temporary Economic Refinance

    Facility (TERF), continued to spur the off take of fixed investment loans. Through the third quarter, loans of Rs 426.0 billion have been approved, of which Rs 74.0 billion have been disbursed under TERF, which bodes well for investment and growth going forward. Consumer financing also picked up considerably during the period compared to last year. In addition to auto and personal loans, there was a notable upturn in house financing as banks responded to the SBP’s mandatory targets to increase their housing and construction finance portfolios to at least 5 percent of the banks’ private sector credit by end-December 2021.

    While the economy made an encouraging recovery during FY21, certain structural vulnerabilities continue to merit attention.

    First, in the agriculture sector, the secular decline in cotton production needs to be addressed. Timely availability of pest-resistant seed varieties and further support from agriculture extension departments, particularly to promote the adoption of climate-smart farming practices, could enable better outcomes.

    Second, in the external sector, the widening of the merchandise deficit needs to be contained to a sustainable level. Greater self-sufficiency in agriculture, through adoption of better farming and crop management practices, and maintenance of adequate stocks can reduce the need to import commodities (such as wheat, sugarcane and cotton) to bridge domestic shortfalls or counter temporary price pressures. Discouraging the import of luxury consumer items and promoting greater diversification of exports, in terms of value-added items and destinations, could also help.

    Third, efforts are required to mitigate food inflation, triggered largely by supply-side issues in the management of agriculture commodities. This may be achieved through better coordination among federal and provincial food departments, provision of reliable data, vigilant monitoring of stocks and food prices, and timely import of commodities.

    Fourth, the twin burdens of debt servicing and a narrow revenue base are leaving less fiscal room for public investment. This calls for an acceleration of efforts to broaden the tax base, increase documentation in the economy, improve public financial management, restructure loss-making public sector enterprises, and reduce circular debt of the power sector.

  • Foreign exchange reserves decline by $102 million

    Foreign exchange reserves decline by $102 million

    KARACHI: The foreign exchange reserves of the country have declined by $102 million for the week ended on July 09, 2021, State Bank of Pakistan (SBP) said on Thursday.

    The country’s foreign exchange reserves fell to $24.311 billion by the week ended July 09, 2021 as compared with $24.415 billion by week ended July 02, 2021.

    The foreign exchange reserves of the SBP came down by $26 million to $17.205 billion by week ended July 09, 2021 as compared with $17.231 billion a week ago.

    The foreign exchange reserves held by commercial banks fell by $78 million to $7.106 billion by week ended July 09, 2021 as compared with $7.184 billion a week ago.

  • Pakistan, Afghanistan sign protocol to extend transit trade agreement for six months

    Pakistan, Afghanistan sign protocol to extend transit trade agreement for six months

    ISLAMABAD: Pakistan and Afghanistan on Thursday signed a protocol to extend the existing transit trade agreement of 2010 for six months beyond May 11, 2021.

    The extension was essential to facilitate uninterrupted flow of transit trade between the two countries and to provide sufficient time to technical teams to conclude negotiations on the new APTTA 2021.

    Advisor to PM on Commerce and Investment Abdul Razak Dawood and Afghan Minister for Industry and Commerce Nisar Ahmad Faizi Ghoryani chaired a virtual signing ceremony.

    Secretary Commerce of Pakistan and Deputy Commerce Minister of Afghanistan also attended the ceremony.

    Ambassador of Pakistan along with Trade & Investment Counselor in Kabul represented the Government of Pakistan in the ceremony held at the Ministry of Industry and Commerce in Kabul, a press release issued by the Embassy of Pakistan in Kabul said.

    The Ministers appreciated the work of technical teams for the progress attained so far in the negotiations.

    They directed the technical teams to forge consensus on the outstanding issues in the new APTTA 2021, to ensure its conclusion, signing and notification at the earliest for the benefit of trade, transit, investment and connectivity between the two brotherly countries.

    The Ministers also agreed to meet in Kabul on the sidelines of 9th Afghanistan Pakistan Transit Trade Coordination Authority (APTTCA) meeting to push forward the negotiations on APTTA 2021 and also to hold business and investment conference in August, 2021.

  • Grant of 10% increase in pension notified

    Grant of 10% increase in pension notified

    ISLAMABAD: The federal government on Thursday notified the grant of 10 per cent increase in pension of all government pensioners with effect from July 01, 2021.

    The finance ministry said that the President has sanctioned an increase at 10 per cent of net pension with effect from July 01, 2021 until further orders to all Civil pensioners of the Federal Government including Civilians paid from Defence Estimates as well as retired Armed Forces personnel and Civil Armed Forces Personnel.

    The ministry said that the previous increase in pension would be admissible to the new pensioners who would retire on or after July 01, 2021.

    The latest 10 per cent increase in pension as will also be admissible to the pensioners who would retire on or after July 01, 2021.

    For the purpose of admissibility of increase in pension sanctioned in this O.M. the term “Net Pension” means “Pension being drawn” minus “Medical Allowance”.

    The increase will also be admissible on family pension granted under the Pension-cum-Gratuity Scheme, 1954, Liberalized Pension Rules, 1977, on pension sanctioned under the Central Civil Services (Extra Ordinary Pension) Rules as well as on the Compassionate Allowance under CSR-353.

    lf the gross pension sanctioned by the Federal Government is shared with any Government in Accordance with the rules laid down in part-iv of Appendix-lll to the Accounts Code, Volume-I, the amount of the increase in pension will be apportioned between the Federal Government and the other Government concerned on proportionate basis.

    The increase in pension sanctioned in this O.M. will not be admissible on Special Additional Pension allowed in lieu of pre-retirement Orderly Allowance and monetized value of a driver or an orderly.

    The benefit of increase in pension sanctioned in this O.M. will also be admissible to those Civil Pensioners of the Federal Government who are residing abroad (other than those residing in India and Bangladesh) who retired on or after 15.08.1947 and are not entitled to, or are not in receipt of pension increase under the British Government’s Pension (increase) Acts. The payment will be made at the applicable rate of exchange.

  • Pakistan receives $1 billion loan from China; forex reserves rise to $24.415 billion

    Pakistan receives $1 billion loan from China; forex reserves rise to $24.415 billion

    KARACHI: Pakistan has received $1 billion as loan from China which helped the total foreign exchange reserves of the country rose to $24.415 billion by week ended July 02, 2021.

    Pakistan also received an amount of $440 million loan from the World Bank during the week, the State Bank of Pakistan (SBP) said on Thursday.

    The foreign exchange reserves of the country were at $23.297 billion by the week ended June 25, 2021.

    The foreign exchange reserves of the State Bank increased by $1.112 billion to $17.231 billion by the week ended July 02, 2021 as compared with $16.119 billion a week ago.

    The foreign exchange reserves held by the commercial banks witnessed an increase of $6 million to $7.184 billion by the week ended July 02, 2021 as compared with $7.178 billion a week ago.

  • Notification for 10% ad hoc increase in salary issued

    Notification for 10% ad hoc increase in salary issued

    ISLAMABAD: The President of Pakistan has sanctioned the grant of ad hoc 10 per cent increase in salary of government employees effective from July 01, 2021, according to a notification issued by the ministry of finance on Thursday.

    It said that the president has been pleased to sanction with effect from July 01, 2021 and till further orders, an ad hoc relief allowance 2021 at 10 percent of basic pay to all the federal government employees i.e. armed forces personnel, civil armed forces and civil employees of the federal government as well as the civilians paid from defence estimates including contingent paid staff and contract employees employed against civil posts in basic pay scales on standard terms and conditions of contract appointment.

    The amount of ad hoc relief allowance 2021:

    i. will be subject to income tax;

    ii. will be admissible during leave and entire period of LPR except during extra ordinary leave;

    iii. will not be treated as part of emoluments for the purpose of calculation of pension/gratuity and recovery of house rent;

    iv. will not be admissible to the employees during the tenure of their posting/deputation abroad; and

    v. will be admissible to the employees on their repatriation from posting/deputation abroad at the rate and amount which would have been admissible to them had they not been posted abroad.

    The finance ministry said that the term ‘basic pay’ for the purpose of ad hoc relief allowance 2021 will also include the amount of the personal pay granted on account of annual increment(s) beyond the maximum of the existing pay scales.

  • Prime Minister inaugurates first phase of Gwadar Free Zone

    Prime Minister inaugurates first phase of Gwadar Free Zone

    GWADAR: Prime Minister Imran Khan on Monday inaugurated the first phase of Gwadar Free Zone besides performing the groundbreaking of its second phase spread over 2,200 acres and also inaugurated three factories.

    Addressing the launch of development projects and the signing ceremony of Memoranda of Understanding here in the port city, the prime minister said Gwadar would open up new avenues of opportunities for regional trade.

    The prime minister said the future of Pakistan belonged to Gwadar, emerging as the ‘focal point of development’ and ensuring prosperity for the entire country.

    Imran Khan mentioned the recently announced Rs 730 billion development budget for Balochistan by the federal government and said it was “historic”, and was aimed at uplift of the province and at mitigating the longstanding deprivation of its people.

    “No country can progress unless it mainstreams all its areas and ensure development across the board,” he said, adding that connectivity was one of the major components of the Balochistan package.

    The prime minister who arrived in Gwadar on a day-long visit inaugurated the first phase of Gwadar Free Zone besides performing the groundbreaking of its second phase spread over 2,200 acres also inaugurated three factories.

    The prime minister said his vision of an emerging Pakistan was a steadfast nation that was committed to the prosperity of the country.

    He said the government was focused on ensuring the provision of basic amenities in Gwadar and Balochistan, particularly clean water and electricity to encourage industrialization.

    Imran Khan said the government was prioritizing development in far-flung areas of Balochistan, northern areas and rural Punjab.

    The prime minister mentioned that Gwadar International Airport would encourage regional trade and boost economic activity.

    He said a one-window operation was in progress to facilitate the investors and urged upon the provincial governments to ensure proper servicing of investors since the subject moved to them after the passage of the 18th Amendment.

    Imran Khan thanked the government of China for the launch of water and solar projects in Balochistan, particularly in Gwadar.

    “Pakistan can benefit from its strategic location and also from the expertise of its friend China, which is an economic power in the region,” he said.

    He also mentioned the technical education provided by China to the youth of Gwadar, which he said, would prove greatly helpful as the foreign investment grew in future.

    The prime minister mentioned several initiatives for the uplift of Gwadar including the university, employment under the Kamyab Jawan Programme, and the up-gradation of the equipment of local fishermen to ensure value addition of their catch.

    He said the Prime Minister Office would regularly monitor the progress on the development plans initiated in Gwadar on a monthly basis.

    The prime minister said regional countries had expressed interest in reaping the benefits offered by the Gwadar port.

    In this scenario, he expressed concern over the deteriorating law and situation in Afghanistan, stressing peace and stability was extremely important for the continuity of development.

    Chief Minister Balochistan Jam Kamal Khan said the provincial government had been collaborating with the CPEC Authority to resolve the issues of customs. He drew attention to the problem regarding the relocation of locals along Eastbay and mentioned that efforts were on for an amicable solution.

    He said the Public Sector Development Programme for the current fiscal year covered the entire Balochistan and mentioned that the extension of Gwadar Hospital up to 200 beds, construction of the first university in Gwadar, border markets and uplift of villages were on the cards.

    Chinese Ambassador Nong Rong said the cooperation between the governments of Pakistan and China had led several projects to see the light of the day. He said over the past eight years, the two countries accelerated their pace on several projects related to civic amenities, particularly clean water and solar plants.

    He said Gwadar was a showcase of the “Chinese solution” for Pakistan’s development.

    By taking a comprehensive way of development, he said, Gwadar Port would turn into a business hub. He said China would continue to extend support for a shared future with Pakistan.

    Chairman CPEC Authority Lt Gen (retd) Asim Saleem Bajwa said the Gwadar Free Zone spread over 60 acres had been completed and 46 enterprises had become operational.

    He said now, the groundbreaking of the second phase at the vast 2200 acres starting today would usher in a new era of prosperity in Gwadar and in Balochistan.

    He mentioned that the personal interest of Prime Minister Imran Khan resulted in materialization of trans-shipment policy, Afghan transit policy, the framework signing and execution of border trade with Iran and the start of work at Eastbay Expressway.

    He said several significant development projects were in progress including the Gwadar International Airport and a Vocational Institute to develop skills of the locals.

    Bajwa said conspiracies were on the rise against CPEC, however, the commitment of the government greatly helped thwart such challenges.

    Chairman Senate Sadiq Sanjrani, Foreign Minister Shah Mahmood Qureshi, Information Minister Chaudhry Fawad Hussain, Planning Minister Asad Umer, Minister for Defence Production Zubaida Jalal and Minister for Maritime Affairs Ali Zaidi were present.

    Earlier, the prime minister before landing at the Gwadar Airport took an aerial view of the infrastructure built at the seaport including the Expressway.

    On his arrival at the China Business Centre Hall, he was given a detailed briefing of the South Balochistan Development Package. He also held an interaction with the CPEC Workforce.

    Chairman CPEC Authority and Chinese Ambassador ink Memoranda of Understanding for cooperation on development in Gwadar.

    Moreover, seven regional countries including Saudi Arabia, United Arab Emirates, Kuwait, Oman, Egypt, Kenya and Qatar on Monday expressed their commitment for cooperation on the development of Gwadar.

    With their respective ambassadors present at the ceremony attended by Prime Minister Imran Khan, the regional countries expressed their support for the development of Pakistan’s port city.

    Prime Minister Imran Khan on the occasion also witnessed the signing of two Memoranda of Understanding with the government of China for carrying out development projects in Gwadar.

    The accords included the implementation agreement on setting up of 1.2 MGD desalination plant to resolve the shortage of drinking water for the residents of Gwadar.

    Other agreements included China’s grant for solar generators for South Balochistan, and the groundbreaking of North Gwadar Free Zone and Enterprises.

    Also on the occasion, the Chinese investors through video-link from Shanghai showed the ‘Expression of Commitment for Investment’. Those who pledged to invest in Balochistan’s different sectors included Huang Weiguo (textile), Huang Daoyuan (prefabricated technology), Fang Hongyan (agriculture), Shen Jian (wool spinning), David Dia and Chen Yi (dairy processing) and Bao Dequan (textile).

    The factories inaugurated on the occasion included the chemical fertilizer factory, Gwadar Animal Vaccination factory and lubricant factory, besides the opening of Gwadar Fertilizer Plant, Gwadar Animal Vaccine Plant, Henan Agricultural Industrial Park, Hengmei Lubricants Plant, Gwadar Free Zone Phase-2, and Gwadar Expo Centre.

    (Courtesy: Associated Press of Pakistan)