Category: bussines

Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry on Saturday said that Pakistan has received approval to continue exporting fish and seafood products to the United States for another four years. “The US nod reflects international recognition of the quality of Pakistan’s seafood and will provide long-term stability to the sector,” the minister said in a statement. The extension is expected to bolster our position in the global seafood market, securing access to one of the world’s largest seafood importers, he added. Last month, the Pakistan Bureau of Statistics (PBS) said…

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India will not “bow down” and instead focus on capturing new markets, trade minister Piyush Goyal said in his first public remarks since Washington imposed steep tariffs on Indian goods. The 50% levies on many Indian imports into the United States took effect this week as punishment for New Delhi’s massive purchases of Russian oil, part of US efforts to pressure Moscow into ending its war in Ukraine. Since his return to the White House this year, US President Donald Trump has wielded tariffs as a wide-ranging policy tool, with…

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LAHORE: Federal Minister for Energy Awais Leghari on Friday announced that net metering IPPs would be established, but cautioned that the system would place an additional burden of Rs4 per unit on consumers. Addressing a press conference in Lahore, Leghari said the issue could not be left unattended. He added that around 18 million consumers were already receiving electricity at a 70% discount, noting that many households had installed solar panels and brought their consumption below 200 units, which had helped reduce their bills. “The price of electricity has decreased,…

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ISLAMABAD: The Economic Coordination Committee (ECC) on Thursday approved a Rs30.216 billion package for the closure of the Utility Stores Corporation (USC), directing that the process be completed in a transparent and organised manner. The summary, moved by the Ministry of Industries and Production, included provisions for employee welfare and the settlement of dues. The ECC also approved the sale of Utility Stores’ assets within the current fiscal year, with closure expenses to be met from the proceeds. The committee stressed that protecting employees’ rights is the government’s foremost priority…

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New US tariffs on Russian oil, effective Wednesday, are expected to erase the financial benefits India reaped from discounted imports since the Ukraine war. Analysts estimate India has saved at least $17 billion by increasing oil imports from Russia since early 2022. US President Donald Trump’s decision to impose additional tariffs of up to 50% on Indian imports could slash exports by more than 40%, or nearly $37 billion, this April-March fiscal year alone, according to New Delhi think-tank Global Trade Research Initiative (GTRI). The fallout from the tariffs will…

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US tariffs of 50% took effect on Wednesday on many Indian products, doubling an existing duty as President Donald Trump sought to punish New Delhi for buying Russian oil. Trump has raised pressure on India over the energy transactions, a key source of revenue for Moscow’s war in Ukraine, as part of a campaign to end the conflict. The latest salvo strains US-India ties, giving New Delhi fresh incentive to improve relations with Beijing. While Trump has slapped fresh duties on allies and competitors alike since returning to the presidency…

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GENEVA: A UN agency responsible for the postal sector said on Tuesday that 25 of its member states have suspended goods consignments to the United States amid uncertainty after President Donald Trump’s administration scrapped a customs tax rule that exempted small packages from duty. The Universal Postal Union, a Switzerland-based agency promoting cooperation between postal services of its 192 member countries, said it conveyed their concerns about disruption in a letter to Secretary of State Marco Rubio on 25 August 2025. It did not name the countries although Australia, Norway…

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US President Donald Trump moved to fire Federal Reserve Governor Lisa Cook “effective immediately” on Monday, citing allegations of false statements on her mortgage agreements — as he expanded pressure on the independent central bank. Referring to the Federal Reserve Act as justification, Trump wrote in a letter addressed to Cook: “I have determined that there is sufficient cause to remove you from your position.” A US president is generally limited in their ability to remove officials from the central bank, with a Supreme Court order recently suggesting that Fed…

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Indian exporters are bracing for disruptions after a US Homeland Security notification confirmed Washington would impose an additional 25% tariff on all Indian-origin goods from Wednesday, ramping up trade pressure on the Asian nation. Indian exports will face US duties of up to 50% – among the highest imposed by Washington – after President Donald Trump announced extra tariffs as punishment for New Delhi’s increased purchases of Russian oil earlier in August. The new duties will apply to goods entering the US for consumption or withdrawn from warehouses for consumption…

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ISLAMABAD: The World Bank (WB) has said that it will provide $47.9 million to Pakistan, funded by the Global Partnership for Education Fund, in order to help improve girls’ and boys’ participation at pre-primary and primary levels in Punjab. “The new support is expected to improve learning outcomes at the primary level and strengthen remedial learning support at the elementary level of schooling,” the WB said in a statement. The “Getting Results: Access and Delivery of Quality Education Services and System Transformation in Punjab Project,” it said, would expand early childhood…

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