Stock markets and oil prices collapsed on a black Monday for world markets, as US President Donald Trump stood firm over his tariffs, despite fears of a global recession. Trading floors across the globe were overcome by waves of further selling after last week’s sharp losses, with Trump telling Americans to “be strong, courageous, and patient,” minutes before the New York stock market opened to
As the government considers its options, the private sector views the Trump administration’s reciprocal tariffs as a strategic manoeuvre to compel Islamabad to engage in discussions for better access to the Pakistani market. The tariffs have also impacted Pakistan’s three main competitors in the US market — India, Vietnam, and Bangladesh. However, New Delhi and Hanoi have already prepared in ad
The government has, in principle, agreed to withdraw the 18 per cent sales tax imposed on the local sale of cotton, yarn, and grey cloth, provided the International Monetary Fund (IMF) permits it, to ensure a level-playing field for both local and imported cotton and its products. Dawn has learned that the committee of federal ministers and secretaries, formed on the directive of Prime Minister
The federal government on Monday censured the managements and boards of directors (BoDs) of three state-owned loss-making power distribution companies (Discos) from Sindh and Balochistan for poor performance and directed them to immediately correct course. In separate letters to the chief executives and BoDs chairmen of the Sukkur, Hyderabad and Quetta electric supply companies, the power divis
The government has confirmed that the chairman and members of the National Electric Power Regulatory Authority (Nepra) unilaterally increased their salaries early this year without the cabinet’s prior clearance. Despite earlier objections from the Cabinet Division, the government implicitly approved the salary increases, which had been deemed unauthorised and called for a written explanation.