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Articles for tag: ASEAN, Asia, cross-border investments, economic stability, escape, eu, foreign investments, infrastructure, Market Access, Poverty, regional, Regional Integration, South, Trade, trade facilitation, trap

January 13, 2025

News Desk

Can South Asia escape the poverty trap through regional trade?

Listen to the article LONDON: After Donald Trump’s victory in the US election, many scholars believe that the world has entered a new era of global economic and political order, as other Western countries experience a similar wave of populism. This article discusses that in the context of global populism, regional trade could be a more effective substitute for achieving comparative advantages in international trade and enhancing prosperity. Trump and other populist leaders in the West share a common goal: industrial policy (IP). IPs are state-led government programs – such as trade protection, subsidies, tax incentives and R&D funding –

January 5, 2025

News Desk

The government aims to reduce poverty by 50%, doubling GDP in five years

A shopkeeper uses a calculator while selling spices and groceries along a shop in Karachi on June 11, 2021. — Reuters The economic plan envisages attracting 29 billion dollars in investments. The GDP growth target is projected at 6% by 2028-29. ‘Uraan Pakistan’ will focus on export-led growth, says Ahsan Iqbal. ISLAMABAD: The Prime Minister Shehbaz Sharif-led government, through its National Economic Transformation Plan, aims to achieve ambitious economic goals, including doubling GDP growth and halving poverty in a five-year period. The News reported on Saturday. The economic plan calls for attracting an expected investment of $29 billion under the

December 12, 2024

News Desk

ADB approves $330 million for Pakistan’s poverty eradication efforts

An image of the Asian Development Bank (ADB) headquarters. — ADB Site/Archive ISPDP funding aims to alleviate poverty among women and vulnerable families. The additional funding strengthens BISP’s capacity with climate-resilient measures. ADB has committed $52 billion to Pakistan since 1966 for economic development. The Asian Development Bank (ADB) has approved additional financing of $330 million to strengthen Pakistan’s federal social protection initiatives, The News was mentioned. Announced on Wednesday, the performance-based loan will support the ongoing Integrated Social Protection Development Program (ISPDP), boosting poverty alleviation efforts targeting underprivileged women and families at the grassroots level. The initiative seeks to

July 25, 2024

News Desk

Rising rates push 320,000 into poverty

Rising mortgage rates in Britain have pushed around 320,000 people into poverty, a figure significantly higher than official estimates, according to a report released on Thursday. Although mortgage rates have fallen from a peak of more than 6% for a typical two-year home loan last year, they remain above 5%, significantly higher than pre-2022 levels. The report, produced by the Institute for Fiscal Studies (IFS) and funded by the Joseph Rowntree Foundation, highlights that rising borrowing costs have affected more people than previously thought. This discrepancy arises from limitations in official household income data, which apply a single average rate

June 28, 2024

News Desk

Skills development key to poverty alleviation

Islamabad: Chairperson of the Benazir Income Support Program (BISP), Senator Rubina Khalid, highlighted the critical role of skill development in lifting beneficiaries of the program out of poverty. He spoke during a meeting with Bill Gates, Co-Chairman of the Bill and Melinda Gates Foundation, on Wednesday. The discussion focused on key initiatives aimed at alleviating poverty through skill development and economic empowerment of women. “Economic empowerment is a necessary condition for the overall empowerment of women. Financial independence is the key to their freedom and success. Lifting the beneficiaries out of poverty is our top priority and BISP is committed

April 19, 2024

News Desk

LSE sees 2.3% growth, more poverty in 2024

LAHORE: Pakistan’s economy is projected to grow at a rate of 2.3% in 2024. The combination of this low growth and high inflation will significantly increase poverty this year and in the coming years. About 10% of taxes would need to be spent on transfers to lower-income households to eradicate this poverty. This necessity will become greater in the coming years, suggesting a significant increase in transfers to households this year and in the future. Programs like the Benazir Income Support Program (BISP) will play a critical role in addressing poverty in Pakistan. These were the key points discussed at

October 17, 2022

The Pakistan Daily

Int’l Day for the Eradication of Poverty being observed today

International Day for the Eradication of Poverty is being observed on Monday. This year’s theme for the Day is “Dignity For All in Practice”. The United Nations has asked every individual around the globe to commit towards striving for social justice and peace. It said, today, many people living in persistent poverty and around one point three billion people still live in multidimensional poverty with almost half of them children and youth.

March 31, 2022

Khalid Imran Khan

Poverty as a Social Problem (Opinion)

Poverty is described as a condition in which a person or community lives hand to mouth as it is unable to meet the basic needs of life. There exists a lack of financial resources and material possessions such as money, food, and shelter etc. Poverty is a worldwide social issue affecting more than 1.3 billion people, almost half of the world. UNICEF reports 22,000 deaths all around the globe due to poverty. Poverty is a widespread issue and a source of continuous discomfort and distress that our country, Pakistan, is facing currently. Almost two-thirds of the population lives in the

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