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Articles for tag: Energy, export oriented, exportoriented, policies, support, Tax, textiles

April 18, 2024

News Desk

Textiles support export-oriented policies

Islamabad: As the country moves towards the negotiation of another International Monetary Fund (IMF) loan program, the textile industry has called on the government to formulate export-oriented policies by reducing energy duties and tax rates to make the industry competitive in the global market. In a letter to Finance Minister Muhammad Aurangzeb, the All Pakistan Textile Mills Association (Aptma) stressed that as the country was about to negotiate a new IMF programme, a fundamental reform required was to promote an export-centric culture in all sectors of the economy. . He was of the view that the new program should cover

April 1, 2024

News Desk

Are global economic policies trapping nations?

Islamabad: World War II ended with the end of a multipolar world. Under the umbrella of the United States, the West began the process of creating a unipolar world, but the emergence of the USSR did not allow the West to create a unipolar world. The West came up with another strategy and started building a global economic and financial system to dominate the world after World War II. The West wanted to rule the world through these institutions. Since then, global economic and financial institutions have been consolidating their position and control. The fall of the USSR gave them

March 21, 2024

News Desk

Tax policies were called for to support investment

LAHORE: Newly elected President of Lahore Tax Bar Association (LTBA) Shahbaz Siddique pledged to implement a series of initiatives aimed at promoting strong and mutually beneficial cooperation between Pakistan and China in the field of taxation. Recognizing the importance of cooperation between the two countries, it aims to leverage this cooperation to drive economic growth and development. As the second phase of the China-Pakistan Economic Corridor (CPEC) accelerates, there is a growing need for effective tax policies and regulations to support these investments. In a recent interview with China Economic Net, Shahbaz emphasized the importance of a strong tax framework

February 23, 2024

News Desk

Pakistan characterizes Israel’s policies as apartheid in the UN court

Islamabad: Pakistan on Friday joined more than 50 countries in advancing its case at the historic International Court of Justice (ICJ) in The Hague to rule on Israel’s illegal occupation of Palestinian lands. The case was launched at the request of the UN General Assembly (UNGA) on 30 December 2022, when a majority of members voted to seek the court’s opinion on the legal consequences of the continued Israeli occupation of Palestine. Arab countries, Russia and China voted in favor of the move, while Israel, the US, Germany and 24 others voted against. The ruling would take several weeks and

February 23, 2024

News Desk

Pakistan characterizes Israel’s policies as apartheid in the UN court

Islamabad: Pakistan on Friday joined more than 50 countries in advancing its case at the historic International Court of Justice (ICJ) in The Hague to rule on Israel’s illegal occupation of Palestinian lands. The case was launched at the request of the UN General Assembly (UNGA) on 30 December 2022, when a majority of members voted to seek the court’s opinion on the legal consequences of the continued Israeli occupation of Palestine. Arab countries, Russia and China voted in favor of the move, while Israel, the US, Germany and 24 others voted against. The ruling would take several weeks and

February 14, 2024

News Desk

JJVL calls for deregulation of LPG Policy

The chief minister directed the Directorate of Petroleum to draw up a plan to restart production at the JJVL plant to ease the gas shortage in winter. Photo: Archive Islamabad: Jamshoro Joint Venture Limited (JJVL) has proposed to deregulate the base price of local LPG or imported LPG in the new proposed LPG Policy, allowing market forces to determine pricing. The government is currently formulating this policy to boost local LPG production. JJVL argues that producers and importers have the autonomy to set prices based on market conditions, fostering fair competition, which previous LPG policies failed to achieve. JJVL chairman

January 29, 2024

News Desk

Unraveling the puzzle of failed welfare policies

Islamabad: The latest World Bank report, published in October 2023, sheds light on Pakistan’s alarming poverty landscape. It is estimated that in 2023, the number of people in poverty has increased to 39.4%, an alarming increase of 5% compared to the previous year. What is particularly remarkable is that the poverty level is now higher than it was five years ago. This is a worrying departure from Pakistan’s previous success in steadily reducing poverty over the previous decade. Despite Pakistan’s recent focus on welfare, including increased spending on social programs and extensive subsidies, the results have been alarming. Efforts like

January 18, 2024

News Desk

IT exports increase with fair policies

LAHORE: Pakistan’s information technology exports rose 17 percent to $303 million in December 2023 from $259 million in November as the country’s specialists and freelancers continued to penetrate international markets. This is in line with the government’s increased focus and growing calls from analysts to tap into the high potential of Pakistan’s IT industry which is believed to push annual exports to $10 billion in the next three years. Year-on-year (YoY), IT exports rose 22.7% in December compared to exports worth $247 million in the corresponding month last year. In the first half (July-December) of the current financial year, IT

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