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ISLAMABAD: As prices of medicines have been rapidly increasing in the country, a former deputy director of the Drug Regulatory Authority of Pakistan (Drap) has urged Prime Minister Shehbaz Sharif to play his role for regulating prices of medicines. In a letter available with Dawn, Dr Muhammad Aleem Akhter said the prices of medicines were deregulated against public and national interest. He said that the Drap Act, 2012, clearly empowers the authority to fix prices of all drugs and medicines and this issue was communicated to the PM’s office through a letter dated Oct 20, 2024, but no action was…

Hong Kong stocks edged down as investors awaited potential stimulus measures from Chinese authorities in an imminent briefing, amid uncertainty about economic support for the country’s recovery and tariff tensions with the US.The Hang Seng Index dropped 0.5 per cent to 21,882.57 as of 9.45am local time. The Hang Seng Tech Index lost 0.2 per cent.On the mainland, the CSI 300 Index slipped 0.2 per cent and the Shanghai Composite Index dropped 0.3 per cent.BYD Electronic International fell 6.6 per cent to HK$32.45, while electric-vehicle maker BYD slid 4.6 per cent to HK$29.40. Ping An Insurance Group declined 2.2 per…

Hong Kong stocks edged down as investors awaited potential stimulus measures from Chinese authorities in an imminent briefing, amid uncertainty about economic support for the country’s recovery and tariff tensions with the US.The Hang Seng Index dropped 0.5 per cent to 21,882.57 as of 9.45am local time. The Hang Seng Tech Index lost 0.2 per cent.On the mainland, the CSI 300 Index slipped 0.2 per cent and the Shanghai Composite Index dropped 0.3 per cent.BYD Electronic International fell 6.6 per cent to HK$32.45, while electric-vehicle maker BYD slid 4.6 per cent to HK$29.40. Ping An Insurance Group declined 2.2 per…

LAHORE: Experts in the seed sector have urged farmers to choose only reputable companies that invest in research and development, producing high-quality seeds better suited to changing weather conditions, helping farmers achieve higher yields and minimise losses. “Farmers in Pakistan, like many around the world, if they use seeds that lack proper genetic traits, can cause significant economic loss. Misleadingly, genetic seeds can lead to crop failure despite farmers invest heavily in fertilisers, irrigation, and labour. This reality underlines the importance of using certified, data-backed seeds from trusted R&D companies,” said the experts. Cost of seed constitutes only 05 percent…

FAISALABAD: Faisalabad Chamber of Commerce and Industry President Rehan Naseem Bharara has said that there is absolutely no justification for closing major highways in Sindh over the issue of canals following Prime Minister Shehbaz Sharif’s decision to convene a meeting of the Council of Common Interests on May 2. He said that in a democratic society, differences are resolved through mutual dialogue. Under this positive thinking, the Prime Minister has called a meeting of the Council of Common Interests to resolve the canal dispute so that differences can be resolved democratically. He said that the earlier demand of the strikers…

KARACHI: Cotton prices have shown overall stability, while trading activity remained limited. New York cotton futures also recorded an improvement in prices. Indications suggest that the EFS (Export Finance Scheme) matter may be postponed until the budget. Frustrated with the government, the PCGA (Pakistan Cotton Ginners Association) has reportedly sent a letter to the Chief Justice of the Supreme Court after approaching the Army Chief, seeking judicial intervention in the matter. Meanwhile, the import bill is rising due to rising imports of cotton, cotton yarn, and textiles, as highlighted by Shahid Rasheed Butt, former President of the Islamabad Chamber of…

Addressing the first Overseas Pakistanis Convention in Islamabad, Prime Minister Shehbaz Sharif paid tribute to the expatriates for their unmatched contribution to nation-building. A mega overseas convention will be held every April to recognise the important role of the 10 million diaspora spread across 160 countries. In an article, ‘Rethinking the diaspora’s role’, analyst Durdana Najam wrote that the state, and its various departments, view overseas Pakistanis as critical stakeholders and are ready to reset the relationship based on terms that go beyond mere transactions. When the country’s financial health is on the line, she said, mobilising one of the…

Opting for consensus rather than contention, Prime Minister Shehbaz Sharif and PPP leader Bilawal Bhutto-Zardari agreed to go forward with the controversial Cholistan canal only if the provinces agreed. Previously, the military-backed Green Pakistan Initiative (GPI) had become a political flashpoint, with protests escalating across Sindh. Critics have warned that the canal projects threaten ecological stability, violate interprovincial water agreements, and risk displacing communities, all without sufficient consultation or safeguards. It is not only the farmers and the people who are affected; it affects all living creatures associated. “This is not a people-centred initiative. It’s a for-profit scheme for cash…

Economics 101 indicates that a country with a savings rate below its investment will find it difficult to achieve sustained growth. It also states that a country with a low financial literacy rate, high inflation and high cash in circulation (cash printed but not in any bank account) will have a very low national savings rate. Pakistan fits this diagnosis perfectly. Firstly, the official savings rate (savings in banks as a percentage of GDP) stood at 14 per cent. Secondly, although inflation has eased in the recent past, rates provided by banks for savings products were well below the inflation…

India’s recent suspension of the Indus Water Treaty marks a grave turning point in regional politics and underscores a critical imperative for Pakistan: to resolve its internal political squabbles with utmost urgency. At a time when external pressures threaten to compromise access to shared water resources, domestic discord, such as the infighting over the Cholistan canal project, only deepened Pakistan’s vulnerability. The nation can ill afford to be divided over water policy when the very lifeline of its people is at stake as a matter of national survival. It’s a welcome relief that, following the meeting between Prime Minister Shehbaz…