Tuesday, April 22 2025

Capitalising on unexplored mineral wealth
The 300 local and foreign delegates participating in a two-day mineral summit in Islamabad have renewed hopes of growing foreign interest in Pakistan’s mineral sector, which remains unexplored for want of financing and access to technology. Addressing the Pakistan Minerals Investment Forum, Prime Minister Shehbaz Sharif said the country’s mineral wealth, “worth trillions of dollars”, could free its economy from perpetual dependency on frequent bailouts from global lenders. Pakistan has enough deposits of critical minerals to be a big economic player in its own right, says analyst Asim Sajjad Akhtar. The optimism is further strengthened by the government’s emphasis on exporting semi-finished and finished mineral products rather than shipping raw materials abroad.
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India and the new world disorder
The escalating United States-China rivalry — driven by trade tensions, tech competition, and shifting alliances — is reshaping the global order. The Cold War’s focus on strategic geography has given way to a world led by economic agility and innovation. At this crossroads, India is leveraging its market size and reforms to grow its global clout, while Pakistan faces economic challenges as it seeks relevance in an era defined by trade, technology, and resilience. Globalisation — the invisible driver of three decades of low inflation — is unravelling as a populist Trump pursues a neo-isolationist path. Cheap labour, efficient supply chains, and aggressive outsourcing kept prices low and profits high. Paul Krugman believes that the recent US tariff policies signal a potential end to globalisation. Even if Trump makes a big retreat on tariffs, he has done irreparable damage to globalisation and international confidence in the United States.
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Pakistan, UAE ink MoUs on cultural cooperation, consular affairs: FO
Pakistan and the United Arab Emirates on Monday signed and exchanged multiple memoranda of understanding (MoU) to further strengthen bonds between the people of both nations, according to the Foreign Office (FO). Pakistan and the UAE share close diplomatic, economic, and cultural ties. The UAE is one of Pakistan’s largest trading partners in the Middle East and a major source of remittances, with a large Pakistani expatriate population living and working there. Foreign Minister Ishaq Dar and his counterpart, Sheikh Abdullah bin Zayed Al Nahyan … “signed MoUs on cultural cooperation and the establishment of [a] joint committee for consular affairs”, the FO wrote in a post on X.
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Work on $2bn motorway projects to start this year: minister
Federal Minister for Communications Abdul Aleem Khan on Monday announced that construction of $2 billion Sukkur-Hyderabad Motorway (M-6) and Karachi-Hyderabad Motorway (M-9) will start this year. The federal minister announced this while chairing a meeting of the National Highway Authority (NHA). The M-6 project, an integral part of China-Pakistan Economic Corridor, has already been delayed by six years. In a recent meeting, a Senate panel had ordered the NHA to give top priority to much-awaited M-6 project. The Senate Standing Committee on Planning and Development reviewed M-6 and directed the NHA to halt work on all other road projects and immediately start construction of M-6 project. On the occasion, Planning Minister Ahsan Iqbal had assured the committee members of implementing all decisions of the panel and agreed that the first priority would be given to M-6 project.
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US stocks tumble 3pc
Major US stock indexes were down more than three per cent each and the dollar index slid to a three-year low on Monday as US President Donald Trump’s continued attacks on the Federal Reserve chair and the bank’s monetary policy rattled investors. Investors flocked to safe-haven assets including gold, which hit another record high, and the Swiss franc. Trump on Monday repeated his criticism of Fed Chair Jerome Powell and said the US economy could slow down unless interest rates are lowered immediately. White House economic adviser Kevin Hassett said on Friday, when many markets were closed, that Trump and his team would study the matter, when asked if firing Powell was an option. Trump had launched a scathing attack against Powell on Thursday.
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