The Senate Functional Committee on Devolution at its meeting on Monday unanimously agreed to abolish the ministries of Industries and Production and Energy (petroleum division) and recommended to devolve their responsibilities to provinces. The committee meeting, chaired by Senator Zarqa Suharwardy, says further recommendations on the distribution of responsibilities to provinces or the Council
Prime Minister Shehbaz Sharif on Monday said the completion of the Information Technology Park project would help boost the country’s exports in this sector and be a significant milestone in achieving the $25 billion IT exports target. The prime minister, while chairing a meeting to review ongoing IT projects, digitisation efforts, and initiatives to boost IT exports, expressed satisfaction wit
Online businesses and freelancers continue to raise concerns over the lack of clarity from the officials on the issue of internet disruptions and warned of massive economic losses if the issues weren’t resolved. The Pakistan Software Houses Association (P@SHA) and Pakistan Freelancers Association (Pafla) on Monday urged the government to take the industry into confidence and address the issues
Chinese electric vehicle giant BYD on Saturday announced plans to open a car production plant in Pakistan, where it will also start selling three models through a partnership with Mega Motors. BYD is the first major new electric vehicle (NEV) entrant in the Pakistani market, where there is a lack of charging infrastructure. "Our entry into the Pakistani market is not just about bringing advance
The benefits of free trade are based on the classic comparative advantage trade theory, as originally espoused by the English economist David Ricardo in the early 19th century. Consumers, producers and economic growth all benefit on average from free trade. The winners from free trade outweigh the losers. Without making interpersonal comparisons, the logic of other economists was that the loser