LAHORE: The Indian government’s recent decision to eliminate the floor price for basmati rice exports and ease restrictions on non-basmati rice exports has triggered alarm among Pakistani rice exporters, who had previously benefited from India’s limitations. This policy change is significant for Pakistan, which saw its annual rice export figures rise to approximately $3.9 billion in FY24, up from $2.15 billion in FY23, largely due to India’s earlier restrictions. Effective from September 2024, India’s new policy could have substantial implications for Pakistan, its primary competitor in the global basmati rice market. Previously, India imposed a minimum export price (MEP) of…
Author: Hasnain Abid Khanzada
KARACHI: Pakistan stands to benefit from the recent 50 basis point reduction in US interest rates, which is anticipated to boost demand in key export markets like the US and Europe. The Federal Reserve’s decision to lower rates to a range of 4.75-5% marks the first monetary easing in four years, likely enhancing Pakistan’s textile exports to Western markets. Financial experts have indicated that this rate cut will decrease global borrowing costs, making it easier for Pakistan to access international capital markets. The country is exploring the issuance of Eurobonds, Sukuk, and Panda bonds to address a $5 billion financing…
ISLAMABAD: In a bid to meet this fiscal year’s ambitious tax target, the government has announced plans to collect Rs450 billion through enforcement measures, aiming to digitally capture Rs48 trillion in services sector supplies over the next three months. Prime Minister Shehbaz Sharif has endorsed the Federal Board of Revenue’s (FBR) strategy, which is crucial for achieving the FY2024-25 annual tax target of Rs12.97 trillion. Government sources indicate that without new enforcement actions, meeting this target would be nearly impossible. The Prime Minister has approved the aggressive implementation of the Point of Sale (POS) initiative across various sectors. The enforcement…
Billionaire entrepreneur Mark Cuban has shared his aspirations to purchase both Fox News and Elon Musk’s social media platform, X, although he admits he lacks the financial means for such acquisitions. In a recent interview with *Wired*, the “Shark Tank” star discussed the complexities of engaging what he calls the “Fox News generation.” He stated, “If I had enough money to do it, which I don’t, I’d buy [Fox News] in a heartbeat.” Despite his considerable wealth—estimated at $5.7 billion by Forbes—he believes he cannot afford Rupert Murdoch’s network. Cuban projected that turning around Fox News would cost between $15…
HYDERABAD: The recent eight-day anti-polio campaign in Hyderabad district saw over 11,000 children unable to receive their polio drops, primarily due to many being absent from home. A report compiled at the conclusion of the campaign, conducted with the support of the district administration and the health department in collaboration with WHO, revealed that 11,704 children under five missed out on vaccinations. Of these, 10,913 were not present at home, while 791 parents refused to vaccinate their children. Despite directives from Divisional Commissioner Bilal Memon to improve performance due to the high number of children missing vaccinations, the situation did…
KARACHI: The Sindh High Court has directed the Secretary of Culture to submit a report regarding protective measures for the Syed Hashmi Library in Malir and changes to the Malir Expressway project. The applicant’s lawyer emphasized the importance of preserving the decades-old Syed Hashmi Reference Library, which houses approximately 25,000 books. He argued that libraries are crucial to the social infrastructure of any city and called for transparency in the planning and routing of the expressway, ensuring it serves the community. The new interchange design threatens to complicate access for students and researchers, undermining the library’s role as a cultural…
KARACHI: German philosopher Immanuel Kant once remarked, “The one who is cruel to animals becomes hard also in dealings with human beings.” This sentiment rings true for Faisal, a compassionate Karachi resident dedicated to feeding stray animals and birds. Living in the Madrassah Society, Scheme 33, Faisal collects leftover food from wedding halls to nourish stray dogs, cats, and other animals. Professionally a pet food supplier, he also volunteers to care for strays in need. His charitable efforts have inspired many locals to join his mission, contributing cooked or raw meat, chicken, and other food items. Faisal’s work extends to…
ISLAMABAD: Chief Justice of Pakistan (CJ) Qazi Faez Isa has taken a firm stance against the eight Supreme Court judges who allowed the Pakistan Tehreek-e-Insaf (PTI) to claim reserved seats in the National Assembly and provincial legislatures through a controversial majority order on July 12. A week after the order was issued, CJ Isa, leading a three-member Supreme Court committee responsible for case listings and bench formations, called for a prompt hearing of the Pakistan Muslim League-Nawaz (PML-N) government’s review petition against it. However, the other two committee members, Justice Syed Mansoor Ali Shah and Justice Munib Akhtar, disagreed with…
The recent Pakistan Tehreek-e-Insaf (PTI) rally in Kahna, held along the city’s Ring Road, faced significant challenges yet managed to draw a substantial crowd, demonstrating the party’s determination. Following a series of speeches from party leaders, the event was temporarily halted, leaving attendees in suspense. Despite police raids, the arrest of party leaders, and strict conditions imposed by authorities, PTI successfully held a sizeable gathering at the Cattle Market on the outskirts of Lahore. PTI leaders reaffirmed their commitment to the supremacy of the Constitution, rule of law, and democracy in Pakistan. During the rally, PTI Chairman Barrister Gohar Ali…
Prime Minister Shehbaz Sharif arrived in London on Saturday for a brief stopover before heading to the United States for the 79th session of the United Nations General Assembly (UNGA) in New York, scheduled for September 23 to 27. The Prime Minister plans to spend two days in London, having landed at Heathrow Airport on Saturday evening. He was seen heading to his apartment near Edgware Road in central London. According to a spokesperson from the Foreign Office, during his time at the UNGA, the Prime Minister will meet with global leaders, including the UN Secretary-General and the President of…
