Author name: Web Desk

The International Monetary Fund (IMF), in its latest technical assistance report, has urged Pakistan to introduce major reforms to the Special Investment Facilitation Council (SIFC), warning that its existing structure and limited transparency could weaken public confidence and hinder efficient economic management. The SIFC was created to accelerate foreign investment and oversee key national projects, but the IMF notes that it functions with broad powers and insufficiently tested accountability mechanisms. According to the report, the council’s mandate overlaps with the Board of Investment, creating institutional ambiguity and raising concerns regarding the immunity granted to its staff during decision-making processes. The IMF recommends that the SIFC immediately release its first annual report, outlining all investment initiatives it has supported, the incentives and concessions offered—such as tax and regulatory relaxations—and the justification and results of each approved project. The Fund also calls for clear, formal procedures governing the council’s operations, along with stronger transparency frameworks to ensure adequate oversight. It further questions the necessity of maintaining the SIFC in its current form while the Board of Investment continues to operate, suggesting a review of the council’s legal basis to ensure it does not circumvent established regulatory checks. These recommendations are part of a wider 15-point reform strategy aimed at addressing longstanding governance deficiencies and corruption risks across Pakistan’s public institutions. The IMF believes that a comprehensive implementation of these reforms, including those related to the SIFC, could significantly improve institutional effectiveness and economic stability.

KARACHI: Consul General of Indonesia, Drs. Mudzakir M.A, informed that trade between Indonesia and Pakistan has continued to grow steadily, reaching US$4.2 billion in 2024. From January to September 2025, bilateral trade stood at US$2.92 billion, compared to US$2.69 billion during the same period of 2024, reflecting a strong and encouraging upward trajectory in bilateral economic engagement.He noted that while trade performance has been positive, there remains considerable potential to diversify the bilateral trade basket. Opportunities exist across multiple sectors including textiles, the Halal industry, agriculture and food products, consumer goods, pharmaceuticals, technology, and digital innovation.The Indonesian CG made these remarks while speaking at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI). President KCCI Muhammad Rehan Hanif, Senior Vice President Muhammad Raza, Chairman Diplomatic Missions & Embassies Liaison Subcommittee Ahsan Arshad Sheikh, Former President Majyd Aziz, President Pakistan-Indonesia Business Forum Shamoon Zaki, and members of the KCCI Executive Committee were present on the occasion.Indonesian Consul General informed that an Indonesian business delegation, facilitated by the Consulate General in Karachi, will participate in the International Consumer Product Fair (ICPF) being held at Expo Center Karachi from 11th to 14th December 2025. Participating companies will represent a range of sectors and showcase Indonesia’s expanding export potential. He requested KCCI to circulate this information among its members and encouraged their active participation in B2B meetings with visiting Indonesian enterprises.He emphasized that Indonesia remains committed to advancing bilateral economic cooperation through enhanced trade facilitation, SME development, technology exchange, sustainable business partnerships, and deeper linkages between private sectors of both countries. The Indonesian Consulate, he assured, would continue to serve as a bridge to ensure that all business opportunities translate into meaningful collaboration.The Consul General stressed that the objective should not only be to increase trade volume, but to move toward high value-added and technology-driven sectors. There is strong potential for collaboration in Halal product development, textiles and garments, palm oil and agribusiness, renewable energy, IT and digital transformation, and SME growth. He reaffirmed the Consulate’s commitment to facilitating trade missions, B2B engagements, and business matchmaking to advance these opportunities.Reaffirming the deeply rooted ties between the two nations, he stated that Indonesia and Pakistan enjoy a strong bond founded on shared faith, historical linkages, and mutual aspirations for peace, development, and stability. Over the years, bilateral cooperation has expanded across trade, investment, education, cultural exchanges, and people-to-people contacts. Today, Pakistan remains one of Indonesia’s strategic partners in South Asia, and Indonesia looks forward to taking this collaboration to greater heights.He acknowledged KCCI’s role as a vital platform for the business community, praising its sustained efforts in promoting global trade linkages, including with Indonesia. The Consul General expressed keen interest in future collaboration with KCCI through joint business forums, trade delegations, seminars, exhibitions, and networking programs, which, he said, would significantly strengthen industrial and commercial cooperation between the business communities of both countries.President KCCI Rehan Hanif, while warmly welcoming the Indonesian Consul General, stated that the visit of the Indonesian diplomat to the Karachi Chamber represents a valuable opportunity to further deepen trade, economic and cultural linkages between Pakistan and Indonesia. “Your presence at KCCI reflects the shared resolve of both nations to strengthen bilateral trade and explore new avenues of mutually beneficial cooperation. We regard Indonesia as a key trading partner within the ASEAN bloc and an important gateway to the dynamic economies of Southeast Asia.”He noted that Pakistan and Indonesia enjoy a longstanding relationship built on friendship, mutual respect, and growing economic collaboration. The two nations are bonded not only through formal trade and diplomacy, but also through strong people-to-people connections, shared values, cultural harmony, and exchanges in areas such as arts and sports.Rehan Hanif highlighted that bilateral trade between Pakistan and Indonesia has shown an encouraging upward trajectory in recent years, particularly after the signing of the Preferential Trade Agreement. However, he emphasized that the true potential of trade between the two brotherly nations remains significantly higher than current realized volumes. There is vast room for diversification, value addition, and meaningful sectoral collaboration in multiple industries.Highlighting industry-specific potential, he pointed out that Pakistan’s pharmaceutical industry is increasingly export-oriented and provides significant space for joint ventures and technology cooperation. Both countries can also collaborate to scale up Halal food exports globally. Pakistan’s rapidly evolving IT sector can tap into Indonesia’s growing digital economy through partnerships and technology transfer initiatives. In the tourism sector, shared cultural and religious heritage provides a natural foundation for boosting tourist flows between the two nations.President KCCI further invited Indonesian investors to explore the wide range of opportunities available in Pakistan’s Special Economic Zones, particularly under CPEC, where highly competitive incentives are available for foreign investors. He reaffirmed that KCCI stands fully committed to facilitating business linkages, trade interactions, and investment flows between Pakistan and Indonesia.To drive progress, he proposed a series of practical initiatives including regular exchange of trade and business delegations, participation in trade fairs and international exhibitions, organizing single-country exhibitions to highlight products and technological strengths, holding sector-specific matchmaking sessions, strengthening direct shipping and logistics connectivity to reduce costs, expanding the existing PTA, and addressing tariff and non-tariff barriers to make trade more efficient and cost-effective.

London: The British government unveiled sweeping reforms to the asylum system on Monday, declaring refugee status will no longer be permanent and pledging accelerated deportations for those entering illegally, in a direct bid to neutralise the electoral threat from Nigel Farage’s Reform UK party.Home Secretary Shabana Mahmood told Parliament that protection will be granted on a temporary basis, subject to regular review, ending the current practice of indefinite leave to remain after five years. Individuals arriving via unauthorised routes, such as small boats across the Channel, will face swift removal once their claims are refused, with significantly reduced appeal rights.Crucially, the government will legislate to reinterpret obligations under the European Convention on Human Rights in domestic law, insisting Article 8 (right to family life) and other provisions should not block removals where public interest demands otherwise. Officials claim this stops “abuse” by foreign criminals and failed asylum seekers who exploit human-rights arguments to remain.The package also includes tougher enforcement powers, expanded detention capacity, and new bilateral return agreements. Labour sources described the measures as the toughest since the failed Rwanda scheme, designed to slash net migration and reassure working-class voters tempted by Reform UK, which secured 14% in last year’s election. Critics immediately accused the government of undermining international commitments.

Beijing: China’s dominance in the global clean energy supply chain reached new heights as battery and battery energy storage system (BESS) exports soared 24% year-on-year in the first nine months of 2025, generating approximately $60 billion in revenue, according to fresh data from energy think tank Ember.Batteries have cemented their position as China’s most profitable clean-energy export since overtaking solar panels in mid-2022. The explosive growth comes despite escalating trade tensions, with the European Union imposing provisional tariffs of up to 37.6% on Chinese electric vehicles and launching probes into battery subsidies.Strong demand from Europe, Southeast Asia, and emerging markets for lithium-iron-phosphate (LFP) cells and large-scale energy storage systems drove the surge. Chinese manufacturers, led by CATL and BYD, now account for more than 70% of global battery production capacity and over 80% of BESS deployments worldwide.Analysts warn that continued export growth could trigger further protectionist measures, yet Beijing shows no signs of slowing investment. Domestic battery production capacity is projected to exceed 3 TWh by year-end, far surpassing global demand. Ember notes the $60 billion figure already rivals total 2024 solar module export revenue, underlining batteries as the new cornerstone of China’s green technology export strategy.

Paris, November 19, 2025 – In a landmark move to rebuild its air force, Ukrainian President Volodymyr Zelenskiy signed a letter of intent with French President Emmanuel Macron on Monday for the potential acquisition of up to 100 Dassault Rafale F4 fighter jets over the next decade, along with advanced air defense systems, drones, and munitions.The agreement, inked at Villacoublay military airbase near Paris in front of a Rafale jet, was hailed by Zelenskiy as “historic,” promising “one of the greatest air defenses in the world.” It includes eight next-generation SAMP/T systems, radars, air-to-air missiles, guided bombs, and joint drone production starting this year. Deliveries could begin within three years, with full Rafale rollout by 2035.The twin-engine Rafale, an “omnirole” aircraft capable of air superiority, deep strikes, reconnaissance, anti-ship missions, and even nuclear deterrence in French service, measures over 15 meters long with a Mach 1.8 top speed and 50,000-foot ceiling. Operational since 2004, it has seen combat in Afghanistan, Libya, Mali, Iraq, and Syria, with 533 firm orders globally, including major exports to India, Egypt, Qatar, Greece, Croatia, UAE, Indonesia, and Serbia.Shares in Dassault Aviation surged up to 8% following the announcement. The deal follows Ukraine’s recent receipt of F-16s and Mirages, plus a similar intent for Swedish Gripens, as Kyiv seeks a modern fleet to counter Russian aggression. Financing remains unclear but may involve EU funds and frozen Russian assets.