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“I alone can fix it,” Donald Trump proclaimed in 2016, when accepting the Republican nomination for US president. Fix what, exactly? Among other problems, “the economy, stupid”, to borrow the famous mantra from Bill Clinton’s 1992 presidential run.Last year, Trump once again campaigned on the premise the US economy was “in crisis” and a “disaster”. He began his second term with a solemn promise to usher in “the golden age of America”. But Trump’s bleak diagnosis of the US economy is not grounded in reality – at least not yet.America’s “misery index” – the sum of the unemployment and inflation…
Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at [email protected] or filling in this Google form. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verificationSoon after taking office, US President Donald Trump issued an executive order prohibiting the establishment, issuance and use of central bank digital currencies (CBDCs) in the country. The order aims to protect Americans from CBDCs which the Trump administration sees as a threat to “the stability of the financial system,…
ISLAMABAD: The Policy Board of the Securities and Exchange Commission of Pakistan (SECP) on Saturday approved the proposed amendments to the Modaraba Companies and Modaraba (Floatation and Control) Ordinance 1980. The amendments were initially introduced in the National Assembly in July 2020 through the Modaraba Ordinance (Amendments) Bill 2020 and received approval from the Standing Committee on Finance and Revenue and were presented to the National Assembly for consideration. However, the proposal lapsed due to the expiration of the National Assembly’s term in August 2023. The SECP has completed a fresh proposal review by actively engaging the stakeholders for consultation.…
ISLAMABAD: The government is upgrading the National Maritime Policy to be valid until 2047. However, key inputs and coordination from other ministries and provinces could delay its enforcement. The Ministry of Maritime Affairs has commenced the consultation process with all relevant stakeholders to formulate the upgraded maritime policy. One of the key targets of the National Maritime Policy (NMP) 2025 is to harness the potential of transit trade to Central Asia. However, the coordination between the Sindh and Balochistan governments is essential as several functions related to maritime sectors were under provincial domains. Similarly, the NMP contains key input from…
ISLAMABAD: Exports to European countries grew 9.86 per cent in the first seven months of the current fiscal year from a year ago mainly due to higher shipments to western states. In absolute terms, Pakistan’s exports to the European Union (EU) reached $5.345 billion in July-January FY25 from $4.865bn last year, according to data compiled by the State Bank of Pakistan. The export resurgence was due to a slight increase in demand for Pakistani goods in western, eastern and northern Europe. In FY24, Pakistan’s exports to the EU dipped 3.12pc to $8.240bn despite its GSP+ status, which allows duty-free entry…
KARACHI: Amid growing concerns over Pakistan’s cash-dominated economy, bankers at a recent summit in Karachi called for a comprehensive digital policy to complement fiscal and monetary policies, paving the way for a more inclusive financial system. While Pakistan’s banking sector remains highly profitable due to heavy investments in government securities, speakers at the summit emphasised the urgent need to connect the financial system with society. They argued that a large portion of Pakistan’s population remains excluded from banking services, limiting economic growth. Speakers noted that the speedy digitisation of payment systems is essential for financial inclusion, yet digital payments account…
KARACHI: The Pakistan Stock Exchange (PSX) continued its bearish trend for the second month in a row, primarily due to anxious selling by investors in February. This uncertainty stemmed from concerns about tax reforms and the outcome of the upcoming first review of the $7 billion Extended Fund Facility by the International Monetary Fund (IMF). The equity investors remained cautious throughout the month and opted to take profits at available margins. A successful IMF review would lead to the release of the second tranche, which the country direly needed to meet its external debt repayment obligations. According to Insight Securities…
ISLAMABAD: Deputy Prime Minister and Foreign Minister Senator Ishaq Dar on Saturday had a productive phone conversation with Denmark’s Foreign Minister Lars Lkke Rasmussen and discussed matters of mutual interest. The two leaders expressed their resolve to strengthen the long-standing friendship between Pakistan and Denmark into a strong economic partnership. They explored ways to expedite collaboration in trade and investment through the promotion of public-private partnerships. Additionally, as non-permanent members of the UN Security Council for 2025 and 2026, they pledged to cooperate on multilateral platforms to advance mutual interests, peace, and sustainable development. Pakistan-Italy bilateral ties Pakistan and Italy…
ISLAMABAD: The prices of the essential kitchen items have witnessed a further increase during this week past against the previous week, revealed a survey carried out by Business Recorder here on Saturday. The survey observed chicken prices went up from Rs16,700 to Rs18,000 per 40kg in the wholesale market, which in retail is being sold at Rs470 against Rs455 per kg and chicken meat is available at Rs750 against Rs700 per kg. Eggs’ prices went up from Rs7,600 to Rs8,600 per carton of 30 dozen which in retail is being sold in the range of Rs290-300 against Rs270-280 per dozen.…
LAHORE: The prices of many essential food items have declined in the provincial capital. According to a price monitoring report released by the Lahore District Administration on Saturday, a significant reduction in the prices of pulses was seen. ‘Desi daal chana’ has seen Rs 5 reduction, which is available at Rs.270 per kg and the price of ‘daal chana’ has dropped by Rs 15, retailing at Rs 285. The price of imported washed ‘daal mash’ saw a decrease of Rs 10, bringing its price down to Rs 440 while unwashed ‘daal mash’ is available at Rs 410 after a drop…