
CM Sindh to open 20th My Karachi exhibition today
Sindh Chief Minister Syed Murad Ali Shah will inaugurate the 20th "My Karachi – Oasis of Harmony" International Exhibition at the Karachi Expo Centre on Friday, August 1. The three-day event will run until August 3, featuring over 350 stalls offering discounted products and services.
Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Jawed Bilwani said the exhibition will promote both Business-to-Business (B2B) and Business-to-Consumer (B2C) engagements. He expects over 800,000 visitors, as per a statement released on Thursday. Over 20 multinational firms and several diplomats from friendly countries have confirmed participation, highlighting the event's international appeal. Bilwani credited Chairman Special Committee and former KCCI President Muhammad Idrees for organising the event.
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Express Tribune
a day ago
- Express Tribune
IMF social spending goal missed
Listen to article Pakistan narrowly missed the International Monetary Fund's (IMF) target to spend at least Rs2.86 trillion on improving poor health and education standards, as Sindh, Khyber- Pakhtunkhwa (K-P), and Punjab fell short of their commitments. Education spending appeared to be a low priority, despite one in four children being out of school and half of grade-five students unable to read grade-two Urdu stories. Against the target of Rs2.863 trillion, the federal and four provincial governments spent Rs2.84 trillion in the last fiscal year, missing the mark by Rs27 billion, according to government sources. Compared to the targets in the memorandums of understanding (MOUs) signed by all five governments, expenditures were Rs240 billion lower than commitments. Sindh, Khyber-Pakhtunkhwa, and Punjab missed their targets by wide margins, while the federal and Balochistan governments exceeded theirs. Poor administrative structures and low absorption capacity were cited as major reasons for the shortfall. The IMF set quarterly and annual ceilings to ensure health and education spending was not sacrificed for meeting other conditions such as cash surpluses and budget balances. In May, Pakistani authorities assured the IMF they would work to improve provincial capacity in these sectors. The IMF's staff report stated that Pakistan's health and education spending has declined since 2018. All governments had aimed for a modest increase in spending to 2.4% of GDP, but execution fell short, particularly in Sindh and Khyber-Pakhtunkhwa, due to absorption issues. The IMF's annual target was missed despite higher spending in the last quarter. Against a quarterly target of Rs713 billion, the five governments spent Rs937 billion in April-June, which was nearly one-third more than planned. However, this late surge failed to offset shortfalls from the first three quarters. Authorities had acknowledged the decline in non-Benazir Income Support Programme (BISP) health and education spending in recent years and committed to gradually increasing it as a share of GDP over the three-year IMF programme. Compared to internal budgetary targets, the federal government spent Rs261 billion on health and education against a Rs248 billion target. Punjab fell Rs35 billion short, spending Rs1.15 trillion in total. Provincial Information Minister Azma Bukhari said Punjab's health budget was Rs524.8 billion, with Rs505 billion actually spent — 96% of the target. Education spending was targeted at Rs664 billion but stood at Rs649 billion, or 98% of the goal. Sindh, under the government of Chief Minister Syed Murad Ali Shah, fell Rs153 billion short, spending Rs670 billion against a target of Rs853 billion, said the sources. Provincial governments often favour large infrastructure projects with more visibility to voters over softer social spending targets. Khyber-Pakhtunkhwa spent Rs545 billion on health and education compared to the Rs600 billion target, missing by Rs55 billion. Balochistan, however, exceeded its target by Rs25 billion, spending Rs206 billion. A recent World Bank report for the "Actions to Strengthen Performance for Inclusive and Responsive Education" programme said Pakistan still struggles with equitable access to education, with significant disparities across levels and genders. The gross intake ratio in grade one is 91%, with disparities between males and females. Transition rates from primary to middle school are 83%, and from middle to secondary school, 92%, according to the World Bank. However, the gross enrollment rate drops sharply from 78% at primary level to 22% in higher secondary education, highlighting retention issues. Out-of-school children remain a major concern, with 26.1 million, or 38% of the school-age population, not attending school in 2022-23. Gender disparities worsen at higher education levels, and rural areas are hardest hit, accounting for 74% of out-of-school children. For girls, lack of access is a critical barrier. Despite progress in enrolment, earning outcomes remain low, with national assessments showing a decline in foundational literacy and numeracy (FLN). In 2023, only 50% of grade-five students could read a grade-two story in Urdu or Sindhi, down from 55% in 2021. English literacy also slipped, with just 54% of grade-five students able to read simple sentences, compared to 56% in 2021. Numeracy skills also worsened. World Bank publications on health sector loans show a similarly troubling picture. Although Pakistan has seen improvements in health outcomes over the past decade, it is unlikely to meet most 2030 health-related Sustainable Development Goals (SDGs) at the current pace. Life expectancy has improved but remains among the lowest in South Asia. Progress in reproductive, maternal, and child health is also inadequate, and Pakistan remains one of only two countries where polio is endemic.


Business Recorder
2 days ago
- Business Recorder
Issues facing traders: LCCI, MBCCI agree to strengthen cooperation
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and Mandi Bahauddin Chamber of Commerce and Industry (MBCCI) have agreed to strengthen mutual cooperation for resolving issues of the business community, promoting trade and industry and contributing to policy-making through joint efforts. The consensus was reached during a meeting between LCCI Vice President Shahid Nazir Chaudhry and Senior Vice President of the Mandi Bahauddin Chamber Captain Taimoor Ahmed (R). Former Senior Vice President of LCCI, Ali Hussam Asghar, was also present on the occasion. During the meeting, the office-bearers of both chambers stressed that the prevailing economic challenges of Pakistan can only be overcome through mutual consultation, policy reforms and active participation of the business community. LCCI Vice President Shahid Nazir Chaudhry said that the Lahore Chamber has always believed in collaboration with chambers from smaller cities and regional zones. He assured that the partnership with the Mandi Bahauddin Chamber would be further strengthened. He said both institutions would work together on experience-sharing, exchange of trade delegations, organizing joint seminars, workshops and formulating policy recommendations. Captain Taimoor Ahmed (R) appreciated the commendable role of LCCI in supporting Pakistan's economy and welcomed its cooperation with smaller city chambers. He added that collaboration with LCCI would greatly benefit the business community of Mandi Bahauddin and give a new dimension to trade activities in the region through joint initiatives. Former LCCI Senior Vice President Ali Hussam Asghar said that all chambers across the country should establish strong inter-chamber linkages to raise a unified voice on key economic issues before policymakers. The participants also agreed to devise a coordinated and organized action plan at both federal and provincial levels to resolve the challenges being faced by the business community. They pledged to utilize each other's platforms for the betterment of the national economy. Copyright Business Recorder, 2025


Business Recorder
2 days ago
- Business Recorder
Businessmen urge govt to capitalise on US tariffs
KARACHI: Businessmen urged the government to tap the US tariffs in competitive advantage over different regional economies through reducing drastically the cost of production and improving ease of doing business across the country for export and other potential sectors. They recommended the government to continue their negotiations with the US administration to receive additional discounts in tariffs mainly on selected sectors, including textile, leather, and foods. Pakistan has been imposed a tariff of 19% as against the competitive economies, including Bangladesh (20%), Vietnam (20%), India (25-50% or varying), and China (50% or varying). President Federal B Area Association of Trade and Industry Sheikh Muhammad Tehseen said the latest tariff rate on Pakistani products imposed by the US may hurt the export volume in a short-run while it may result gradual rise in volumes and values in the future. As compared to the latest tariff rate, the 19% tariff rate sounds favorable for Pakistani export growth in the US markets but our cost of production is already high with competitive economies that may not result a desirable scenario for made-in-Pakistan's brands. Pakistan's government should evaluate the production cost and ease of doing businesses in these competitive markets and plan a strategy to shore up the country's exports across the world, FBATI President remarked. The government should work extensively to reduce the production cost for export sector through reducing expenses on utilities, including electricity, gas, water and etc. to penetrate the market significantly in the US markets, he added. Majyd Aziz, Former President Karachi Chamber of Commerce and Industries (KCCI) the US President Trump has provided an opportunity to re-shape the export culture and it is will depend upon Pakistan's government and exporters to take maximum advantage. Pakistanis are elated that India was slapped with 50% plus 10% baseline tariff but the downside is that unlike Pakistani policymakers, India government will give subsidies, reduce infrastructure rates, and provide maximum facilities to exporters to mitigate the impact of the high tariff rates. This is the time to revisit Pakistan's export policy and take all-out efforts to provide more space to exporters to facilitate exports otherwise Pakistani exports will only inch at snail's speed, he remarked. He said that Pakistani exporters should wake up and improve productivity, enhance efficiency, reduce waste, concentrate also on circular economy, and refrain from ad hoc measures while adopting best practices in the businesses. Hence, Pakistani exporters could attract foreign buyers to prefer more imports from Pakistan because textiles from China, Vietnam, Bangladesh, Cambodia have a strong presence in USA, the ex-KCCI chief further said. Muhammad Babar Khan, Central Chairman Pakistan Hosiery Manufacturers Association (PHMA) said Pakistan could take the advantage of the recent tariff policy of the US through filling the gaps that is expected to be created from Chinese goods and products. He said that Pakistani companies in collaboration with Chinese investment could boost the exports of made-in-Pakistan products in the US markets, he further said. Either Chinese textile companies invest in Pakistani companies or set up their factories in Pakistan's export zone in collaboration with Pakistan partners as a part of strategy to retain their share in the USA market. This partnership could prove as a win-win situation for all countries, he added. Businessmen expected that the access to the US companies to the Pakistani market in oil and gas, mines and mineral sector may also attract foreign investment but these could also improve the bilateral trade ties with the two countries, including favorable tariff rates for Pakistani exporters. Copyright Business Recorder, 2025