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Airline shares plunged on Monday, with Hong Kong’s Cathay Pacific 0293.HK, Australia’s Qantas Airways QAN.AX, Singapore Airlines SIAL.SI and Japan Airlines 9201.T down more than 5% after the U.S. and Israel launched weekend strikes on Iran, disrupting travel and sending oil prices surging. Global air travel remained in turmoil as war in Iran forced the closure of key Middle Eastern hubs, including Dubai and Doha, for a third day, stranding tens of thousands of passengers worldwide. Oil prices surged 7% to their highest in months as Iran and Israel stepped…

ISLAMABAD: If you stand at the heart of the Jodia Bazaar in Karachi or the bustling yarn markets of Faisalabad, you won’t hear the sterile hum of servers or the clicking of bank tellers. Instead, you will hear the rhythmic scratching of ballpoint pens on tiny, torn scraps of paper and the frantic shouting of men in waistcoats. This is the sound of Pakistan’s real economy — a multi-billion-rupee shadow world where the most powerful financial instrument isn’t a cheque, credit card or digital wallet, but the humble parchi. In these…

KARACHI: Capital value tax (CVT) is not a novel concept in Pakistan’s fiscal framework. It was first introduced through the Finance Act, 1989, primarily as a tax on the acquisition or transfer of specified assets, including immovable property, motor vehicles, and certain financial instruments. Over time, its scope and application evolved, and it effectively ceased to operate after its abolition through the Tax Laws (Amendment) Ordinance, 2020. The present CVT regime was reintroduced under Section 8 of the Finance Act 2022 as Capital Value Tax 2022, complemented by the Capital…

ISLAMABAD: The two sessions — the plenary meeting of the National People’s Congress and the National Committee of the Chinese People’s Political Consultative Conference — have always been important for China. They are significant because the Chinese leadership finalises critical policy choices, policy documents, and action plans in consultation with representatives of the people. The consultation is not limited to the Communist Party of China (CPC) members but also includes other political parties, leading experts, businessmen, and others. With China’s progress and enhanced economic status, the sessions have also gained global attention.…

ISLAMABAD: During his recent visit, Ajay Banga warned that Pakistan must create 2.5 to 3 million jobs annually – roughly 30 million over the next decade – or risk converting its demographic advantage into instability. This is not a development slogan but a structural test of the state. In today’s geopolitical environment, economic resilience is inseparable from national security. A country unable to productively absorb its youth risks internal volatility, fiscal fragility and strategic vulnerability. Employment generation is, therefore, not merely a growth objective; it is a sovereign stability imperative.…

ISLAMABAD: If you were the head of a billion-rupee conglomerate in Pakistan, why would you ever want to export? The rational answer, despite the government’s constant exhortations, is that you probably wouldn’t. We know that “export-led growth” is the way forward, yet Pakistan’s export performance remains lacklustre, with the lowest export-to-GDP ratio in the region. High energy costs, high rates of taxation, bureaucratic friction, and political uncertainty are often blamed for our narrow, stagnant export base. While there is some truth in this, we must also examine the institutional incentives…

KARACHI: Once again, the government has introduced a controversial policy change that has created significant uproar among stakeholders in the energy sector as they brace for its impact. The net billing policy has replaced the net metering regime. Previously, the consumers under net metering paid for the difference between the electricity they exported to the grid and the electricity they imported from it. Under the new regime, the consumers will pay different rates for the units they purchase from the grid and those they sell back to it, with the…