Much like estranged relatives awaiting the arrival of a loved one outside the airport, domestic consumers are gazing towards the likes of Renault and Volkswagen in the anticipation of much-needed new entrants to the Pakistani automotive market.
A host of demons seem to be nestling in Nestlé food company. After Indian food regulators found that Nestlés Maggi Noodles contained high levels of lead which makes it "unsafe and hazardous", Maggi has been going off the shelves in India as well as in East Africa.
The government would not want to endanger home remittances - the staple food for the current account, and so the speculations of taxing these cash inflows were turned down in the Budget FY16 as well. The Economic Survey of Pakistan 2014-15 shows that the current account (CA) deficit narrowed by around 50 percent to $1.4 billion in the first ten months of FY15 partly due to higher remittances. While the current account shrunk substantially in FY15, hopes for robust growth in FY15 are also pinned to rise in remittance receipts along with lower oil prices.
Most Pakistanis know a lot about the country's energy crisis and its consequences on the economy. However, hardly a handful know or even talks about the much greater looming threat of water scarcity in Pakistan, even though, the water crisis has much larger consequences, it constitutes one of the biggest challenges to Pakistan's survival.
Finally, KSE has a reason to smile! All thanks to MSCI – the prominent provider of global equity indices – for putting Pakistan on the watch list for a possible reclassification to Emerging Market Index as part of its 2016 annual review. Recall that Pakistan was once part of the MSCI Emerging Market Index but was subsequently pulled out in 2008 owing to the stock market crisis that led to the implementation of ‘floor rule’.
Broadband acts as an enabler of human rights and freedom of expression. That’s why the United Nations and other global bodies insist on universal access to internet, or right to broadband. Many governments in both rich and poor regions now have universal broadband programs. Taxing internet access, however, is deemed a step in the opposite direction. Just yesterday, the US Congress passed a bill proposing long-term extension to the ban on state and federal taxes on internet access.
The aviation industry has many reasons to celebrate at the moment. Firstly, the National Aviation Policy (NAP) 2015 was released earlier this year after the absence of several years. And now they have received some very satisfying news from the government in the latest federal budget.