ANKARA: President Recep Tayyip Erdogan has vowed to rein in inflation decimating Turks’ purchasing power and doubled down on his opposition to high interest rates. Erdogan has gone against orthodox economic thinking as part of a “war of economic independence”, arguing repeatedly that high rates push up inflation. “Sooner or later, just as we lowered inflation … Read more
KARACHI: Indonesian Consul General in Karachi Dr June Kuncoro has invited Pakistani industrialists to visit Indonesia for promoting bilateral trade, saying that the Pakistani business and industrial community should take advantage of the opportunities available in Indonesia, a statement said. A forum called Pakistan-Indonesia already exists and is providing its services, he said. Addressing a … Read more
ISLAMABAD: The current sugar crisis escalated due to black marketing by the industrialists, which left adverse effects not only on the supply chain mechanism but also on the economic growth of the country, a senior official said on Tuesday. Since the inception of Pakistan, the industrial sector was being ill-regulated due to monopolists that always … Read more
KARACHI: Industrialists have criticised the Sindh government over the rise in the minimum wage to Rs25,000 and termed it unconstitutional, a statement said on Wednesday. “The industries of Sindh, particularly of Karachi, are highly aggrieved and perturbed by the controversial move of the Sindh government to increase [the] minimum wage from Rs17,500 to Rs25,000 without … Read more
KARACHI: Industrialists warned on Wednesday that the Sui Southern Gas Company’s (SSGC’s) decision to suspend supply to industries in Karachi would force half of the units towards closure. On Tuesday, the SSGC’s had announced the suspension of gas supply to all the seven industrial zones in Karachi. In a joint statement, Businessmen Group (BMG) Chairman … Read more
