A long time ago, Deng Xiaoping termed the reform he helped initiate as China’s second revolution. “The reform we are now carrying out is very daring. But if we do not carry it out, it will be hard for us to make progress. Reform is China’s second revolution,” he is quoted to have said during his talk with Mr Susumu Nikaido, Vice-President of the Liberal Democratic Party of Japan, in 1985. “I
Pakistan is likely to lift the ban on the commercial export of sheep and goats imposed more than a decade back, mainly responding to the demand from Gulf countries. The Ministry of National Food Security and Research (MNFSR) has finalised the summary in this regard and sought permission from the federal cabinet to undo the decision taken in 2009. The Executive Committee of the Special Invest
Sri Lanka’s new government has approved a controversial restructure of $14.7 billion in foreign commercial credit tentatively agreed by its predecessor, the finance ministry said on Saturday. Former leader Ranil Wickremesinghe announced a deal with international sovereign bondholders and the China Development Bank just two days before he lost presidential elections last month. The new left
Despite hopes of economic recovery following the IMF’s $7 billion bailout package, several industrial sectors are either shutting down units or reducing production due to the soaring costs of power and gas, which have hit production hard, leading to closures and job cuts in key industries. However, stakeholders have expressed mixed views about the impact on employment. A drop in local cement sa
Contrary to frequent closures of local businesses, Pakistan witnessed a higher arrival of foreign companies than those leaving the country in one and a half years. Several notifications were sent to the Pakistan Stock Exchange informing the stakeholders about the closure or downsizing of the companies from textile to steel, leather and other sectors during this period. However, the sold-out