The government wants to accelerate economic growth to lower rising poverty and unemployment, but the IMF was of the view that Pakistan has not yet reached a stage where it can afford sustainably higher economic growth. PHOTO: Reuters ISLAMABAD: The government may not be able to provide any significant tax relief to all the affected…
SAN FRANCISCO: US-traded chipmakers plunged on Friday, losing about $1.3 trillion in market value, with deep losses in AI heavy hitters including Nvidia, Micron Technology and Advanced Micro Devices, as Broadcom’s weak report earlier this week reverberated across Wall Street. The PHLX chip index slumped 10.3% in its deepest one-day loss since March 2020, when…
LAHORE: Every year or two, the Pakistan Sugar Mills Association (PSMA) writes a letter to the government. The words change slightly, the numbers grow larger, but the request remains the same, ie, let us export surplus sugar. A fresh letter landed on Deputy Prime Minister Ishaq Dar’s desk on May 31 and the cycle has…
“Don’t discourage us,” digital voices oppose proposed tax on earnings, suggest classification framework KARACHI: Content creators and influencers across various digital platforms have urged the government to refrain from imposing new taxes on their earnings in the upcoming budget, arguing that the sector contributes valuable foreign exchange earnings while promoting informative and knowledge-based content for…
KARACHI: The Pakistan Stock Exchange (PSX) experienced cautious and largely range-bound trading throughout the week as prolonged uncertainty surrounding peace talks between the United States and Iran kept investor sentiment subdued. At the commencement of the trading week, “peace deal uncertainty triggered profit-taking”, remarked Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL)….
Complaints are often dismissed by citing farmer error, poor practices, weather, or climate factors KARACHI: In Pakistan’s agriculture sector, discussions on farmer welfare typically centre around support prices, subsidies, water scarcity, climate change, and technology access. However, a critical issue remains largely unaddressed: accountability when agricultural inputs fail to deliver promised results. This concern has…
LAHORE: Global technology company Hisense has launched its operations in Pakistan through a partnership with Airlink Communication Limited, according to a statement issued on Saturday. The launch ceremony was held at the Expo Centre Lahore and attended by government officials, diplomats, business leaders and industry representatives. Speaking at the event, Special Assistant to the Prime…
ISLAMABAD: Saudi Arabia is set to establish a crypto and blockchain zone in Karachi along with studying the potential of other mega projects. Pakistan’s government is currently working on regularising crypto trade, backed by US President Donald Trump. Pakistan has also signed a Memorandum of Understanding (MoU) with Saudi and local partners to explore the…
Analysts have estimated a loss of 7 million to 10 million barrels per day of Middle East oil production due to ongoing war. PHOTO: PEXELS ISLAMABAD: The Oil Companies Advisory Council (OCAC) has expressed serious concern over the proposed recovery of oil inventory gains and the review of cross-subsidy mechanism, and has called for policy…
KARACHI: Pakistan’s short-term inflation, gauged by the Sensitive Price Indicator (SPI), surged 14.75% year-on-year, reflecting the impact of heightened geopolitical tensions following the Israel-US conflict with Iran, and the resultant disruption to global oil supplies through the Strait of Hormuz, which has caused a sharp rise in energy and food prices that continued to burden…