Islamabad: The third two-day, ‘Tashkent International Investment Forum” (TIIF) will be held on May 2-3, this year in Tashkent, the capital of Uzbekistan.

The forum is organized at the initiative of Shavkat Mirziyoyev, President of the Republic of Uzbekistan, who will participate in the event. Two-day 'Tashkent International Investment Forum' to start on May 2.

Meanwhile, 30 businessmen and investors from different sectors from Pakistan will participate in the third Tashkent International Investment Forum, in which mutual economic and investment meetings will be held between the two countries, said a release issued here.

More than 2500 investor’s, delegates from different countries and various businessmen will participate in the ‘Tashkent International Investment Forum, ‘who will discuss the promotion of investment and regional business.

The TIIF aimed at attracting foreign companies, investors and development partners to expand their activities as well as implement new projects and programs.

TIIF will serve as a unique platform of regional importance to promote business contacts with emphasis to such areas as digital transformation, transport connectivity, infrastructure development and green growth.

The Tashkent International Investment Forum will be the region’s largest international platform for discussing strategies to enhance Central Asia’s role in the international investment market.

This event will create a new international platform for Central Asia, which will attract leaders of major investment, financial and economic organizations and companies interested in finding new growth points in the dynamically developing market of the Republic of Uzbekistan.

Meanwhile addressing the business community in Federation Pakistan Chamber of Commerce and Industry (FPCCI) here, Ambassador of the Republic of Uzbekistan to Pakistan, Oybek Arif Usmanov said the ‘Tashkent International Investment Forum’ to be held on May 2 under the patronage of President of Uzbekistan, Shavkat Mirziyoyev.

The ambassador highlighting the importance of ‘Tashkent International Investment Forum’ said that in this forum, foreign investors and businessmen will gather in Tashkent, to discuss bilateral and multilateral investment and business opportunities.

He said that many agreements regarding investment and businesses will be signed during the forum, which will not only promote global investment but also businesses in the region.

Oybek Arif Usmanov said that major investment institutions and investors of the world will participate in the ‘Tashkent International Investment Forum’ which would provide a huge opportunity for multilateral cooperation to the partners.

He said, it would be great opportunity for FPCCI to participate in this international forum and become a part of the international investment.

The Uzbek envoy said that there will be G2B and B2B meetings in the Tashkent Investment Forum.

“We need to start the Afghanistan-Pakistan corridor for smooth trade and economic activities, ” he said.

He said that direct flights will be started from Islamabad and Lahore soon and we are committed to resolving visa issues as well to provide facility to the local business community.

Meanwhile, President FPCCI, Atif Ikram Sheikh said that Tashkent International Investment Forum is a pivotal forum for global investment, which has great opportunities for Pakistan’ businessman in various sector, in which the participation of Pakistani businessmen is extremely significant.

Atif Ikram said that Uzbekistan is an important trade partner of Pakistan with which Pakistan’s economic and trade relations are extremely important.

President FPCCI said that at the end of 2023, mutual trade between Pakistan and Uzbekistan was $387 million, which is an increase of 130 percent, compared to 2022, and adding that in the first quarter of 2024, the bilateral trade between the two countries was $104 million, which is 107 increases as compared to same period last year 2023.

He said Pakistan’s exports with Uzbekistan have increased gradually in the previous years, which has to be further increased.

He said that bilateral trade can be promoted in textile, pharmaceutical, rice, machinery, agriculture machinery, electromechanical and other sectors.

“We have to explore different avenues to further promote bilateral trade,” he added.

The high-ranking officials and business leaders from China, US, European Union, Gulf countries, Central Asia, South Asia and other regions will participate in the Forum with arrangement of bilateral, G2B and B2B meetings.

Karachi: Governor State Bank of Pakistan (SBP) Jameel Ahmad said that the firm commitment of the government and the SBP to respond to the macroeconomic challenges has resulted in significant improvement and Pakistan’s economy is on the path to recovery amid global challenges.

The SBP governor, while delivering a keynote address to the Members Convocation of ICMA Pakistan late Saturday night, elaborated on the recent improvement in Pakistan’s economy and shared that it is worth taking a step back and analysing where our economy is standing and where it is headed.

Referring to the challenging macroeconomic environment Pakistan was facing a year ago, he said that inflation had reached 38 per cent, the FX reserves were fast depleting, the exchange rate was under a lot of pressure and uncertainty was quite high.

However, today, inflation is coming down sharply, our reserves have risen to around US$8 billion despite heavy debt repayments and will so cross the $ 9 billion mark, the current account deficit has narrowed quite significantly, and as a result, the PKR is stable while the stock market is reaching new highs, Jameel Ahmed stated adding that uncertainty has also reduced and Pakistan’s bilateral and multilateral partners are continuing their support.

The governor, while citing Pakistan’s economic improvements, shared that progress was made possible because of a firm commitment of the government and the State Bank of Pakistan to effectively respond to the macroeconomic challenges.

“Unpopular yet necessary measures had to be taken as the State Bank raised the policy rate to 22 per cent, in order to reduce pressure on inflation and the current account,” the SBP governor said and added that the government also undertook fiscal consolidation by constraining non-essential current expenditures and the coordinated policy response was now yielding the desired results.

Governor SBP stressed the need for fresh perspectives and innovative solutions to address the longstanding issues facing our economy and said that fresh perspectives and innovative thinking have become more necessary, as the global shocks facing our economy are getting increasingly complex. He shared that climate change, technological advancements, cyber security threats, and financial innovations are adding new dimensions to the risks to economic and financial stability.

Governor Jameel Ahmad congratulated the graduating accounting professionals and encouraged them to make a mark for themselves and proactively respond to the emerging challenges as our country needs professionals with in-depth knowledge of economics, finance and accounting to find workable solutions.

He said that leadership skills are also paramount to designing and implementing the policy and regulatory decisions with courage and fortitude. In conclusion, the Governor encouraged the graduates to work with dedication, hard work, and unwavering commitment to excellence to help in shaping the economic landscape of Pakistan.

Earlier, President ICMA Pakistan Shehzad Ahmed Malik extended a warm welcome to Governor SBP Jameel Ahmed, Deputy Governor Dr. Inayat Hussain and Deputy Governor Saleem Ullah for attending the Convocation. He congratulated the SBP team on their efforts for stabilizing the economy.

In the end, Governor SBP bestowed degrees upon the graduating CMAs.

Islamabad: Five children died of measles on Sunday in Chandru Meo village of Tando Allahyar.

The latest reports said that the condition of 3 children brought to Civil Hospital is very critical.

According to the Medical Superintendent of the Civil Hospital, the treatment of the children was started and measles vaccination is being administered to children.

The children were identified as five year old Iqra, daughter of Ashraf, her four year old brother, Ashiq and their relative, three year old Asif son of Yameen.