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• Seek urgent meeting with PM to address ‘restrictive policies’• Sound alarm over tariff hurdles, supply chain disruptions ISLAMABAD: Textile exporters have urged the federal government to reverse policy measures in the upcoming budget that are disrupting supply chains critical to sustaining over $9 billion in value-added exports. In a joint letter to Prime Minister Shehbaz Sharif, the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) and the Pakistan Hosiery Manufacturers and Exporters Association (PHMA) requested an urgent meeting to resolve ongoing tariff-related barriers and restrictive policies that, they claim, are choking the supply chain. A copy of the letter,…
China’s air force has introduced aerial refuelling to its pilot training programme as the People’s Liberation Army tries to step up combat readiness and long-range capabilities.The move was highlighted in a report by state broadcaster CCTV on Friday that included footage from a PLA training video. It showed instructors from the PLA Air Force’s Shijiazhuang Flight Academy piloting two J-10 fighter jets in a refuelling drill, supported by a YU-20 tanker.The J-10 – seen as China’s answer to the American F-16 – has a two-seat variant for advanced fighter and strike training. Another variant, the J-10CE, was used by Pakistan…
WARSAW, Poland (AP) — The final result of Poland’s presidential election only became clear after a long, nail-gripping night of counting as both candidates were locked in a near dead heat in the first exit polls after voting ended. Poles awakened Monday to a clear albeit close result that returns a nationalist politician to the presidency who has pledged to hinder the centrist, pro-EU government for the remainder of its term.Here’s what to know about Karol Nawrocki, Poland’s newly elected conservative president: Trump backed himNawrocki is a 42-year-old historian who had no political experience prior to the campaign and who…
“I’m optimistic on China and Hong Kong, as the markets should focus on the valuation opportunities that they represent,” said Neil Hosie, the Swiss bank’s global head of execution services, in Hong Kong last week. “There are still more stimulus measures that China can take that could further boost the market and sentiment.”The bank’s positive stance came as global investors appeared to be interested in divesting away from US equities and harboured concerns about other American asset classes amid trade tensions.London-based Hosie said the US was over-represented in the MSCI World Index; 72 per cent of its weighting was invested…
“I’m optimistic on China and Hong Kong, as the markets should focus on the valuation opportunities that they represent,” said Neil Hosie, the Swiss bank’s global head of execution services, in Hong Kong last week. “There are still more stimulus measures that China can take that could further boost the market and sentiment.”The bank’s positive stance came as global investors appeared to be interested in divesting away from US equities and harboured concerns about other American asset classes amid trade tensions.London-based Hosie said the US was over-represented in the MSCI World Index; 72 per cent of its weighting was invested…
MUMBAI: India’s economy grew by 6.5 percent in the fiscal year that ended in March, official data showed on Friday, among the world’s top performers but still sluggish compared with its recent track record. Gross domestic product rose at its slowest pace in four years, with growth coming in well below the 9.2 percent recorded in the previous financial year. The world’s most populous nation grappled with a weaker manufacturing sector, tight monetary policy and muted urban consumer sentiment for most of the past year. While the economy has rebounded over the past two quarters, helped in part by strong…
LAHORE: Seeking an urgent meeting with Prime Minister Shehbaz Sharif ahead of the federal budget, Pakistan’s apparel sector; a vital contributor of over $9 billion in export revenue has warned that the country’s value-added textile industry faces serious setbacks due to continued tariff barriers and restrictive policies that are choking supply chains. In a joint statement issued by the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) and the Pakistan Hosiery Manufacturers & Exporters Association (PHMA), apparel exporters stressed that global buyers now demand certified, high-performance materials that are simply not available in Pakistan. Yet, import of such essential raw…
ISLAMABAD: An Economic Thinktank has strongly recommended Federal Board of Revenue (FBR) to exempt construction sector from advance taxes and sales tax in coming budget (2025-26) to reduce the overall burden of transaction taxes on real estate sector. According to a report of Economic policy & Business Development think tank on “Housing and Construction Sector-Challenges and Recommendations”, it has recommended the FBR to reduce transaction taxes burden during buying and selling of immovable properties. This is needed to deal with the housing deficit with 10 million units and growing day by day. Around 72 allied industries of the real estate…
ISLAMABAD: The Competition Commission of Pakistan (CCP) has warned consumers that bogus housing schemes and deceptive marketing practices continue to harm growth in real estate sector. According to an order issued by the CCP against a housing society of Islamabad, the importance of responsible and accurate advertising in relation to real estate should not, in any circumstance, be undermined. The real estate market plays a vital role in the development of any country’s economy as numbers of other associated sectors have close links with this sector. At the same time, the degree of regulation remains inadequate to the extent that…
ISLAMABAD: Appellate Tribunal Inland Revenue (ATIR) has held that the powers granted to Commissioners Inland Revenue to amend assessment orders under Section 122(5A) of the Income Tax Ordinance, 2001 are not without boundaries. The ATIR emphasised that the scope of investigation and inquiry under this provision is not open-ended, and must operate within clearly defined restrictions and limitations. In a strongly worded observation, the ATIR remarked that “justice is a concept of moral rightness based on ethics and rationality,” asserting that unchecked investigative authority undermines both the legal process and individual freedoms. ATIR further stated that the investigative proceedings under…