During the past 20 months, Pakistani businessmen and rich individuals have not only been investing heavily in Dubai’s real estate but also establishing export-import trading houses there, media reported.
“This is not a surprise that the Pakistanis have been investing in the real estate of Dubai but important is the establishment of trade and business houses by Pakistanis,” said Anwar Khawaja, a Karachi-based investor having businesses in Dubai also.
“Many big business tycoons in Pakistan have partially or fully shifted their business to Dubai depriving the country of income and jobs,” he said. However, he said many have justification.
The political and economic uncertainties along with the deteriorating law and order situation frightened the business community who regularly pay ‘extortion money’ to one or another group in Karachi, Dawn reported.
He said top business families are permanently living in Dubai, purchased houses and established trade with foreign countries. They also operate as a base for the trading of Pakistani goods; exports and imports to other countries, Dawn reported.
“This is easy to do trade from Dubai since there is no problem with opening accounts for exports or imports. They earn and invest in Dubai particularly the real estate is the paradise for making money,” he said.
While several analysts suggested for immediate formation of a new government in Islamabad, as the only way to get rid of uncertainties, others said the new government would have to work on war footing to improve economic indicators, Dawn reported.
No booksellers or publishers from Bangladesh to participate in Agartala Book Fair
Amidst the unrest followed by the political changes in Bangladesh, no booksellers or publishers from the neighbouring country will participate in the Agartala Book Fair, beginning from Thursday, officials said.
Manipur govt to provide collateral-free loans up to Rs 50,000 to violence displaced people: CM
The Manipur government would provide collateral-free loans up to Rs 50,000 to the ethnic violence displaced people under the Chief Minister’s Entrepreneurship Support Scheme (CMESS), Chief Minister N. Biren Singh announced here on Tuesday.
Manipur govt announces 7 pc DA hike for employees
Announcing the DA, Chief Minister N. Biren Singh said that the Dearness Allowance (DA) for government employees shall be increased from 32 per cent to 39 per cent with effect from January 1, 2025.
Narcotics valued at Rs 15 crore seized from Assam, two arrested
Assam Police foiled an interstate drug peddling attempt and seized narcotics worth Rs 15 crore, Chief Minister Himanta Biswa Sarma said on Sunday. The operation was carried out in the Cachar district which is neighbouring two states - Manipur and Mizoram.
PM-Kusum scheme to enhance crop production, double farmers’ income; Union Minister Prahlad Joshi visits Charilam
The Union Minister for renewable energy Prahlad Joshi on Sunday visited the renewable energy plant in Charilam block in Sepahijala district of the state and interacted with the local beneficiaries.
Govt approves scheme to enhance food storage space in NE states: Pralhad Joshi
Union Minister of Consumer Affairs, Food and Public Distribution Pralhad Joshi on Sunday said that the government has recently approved a Private Enterprise Guarantee (PEG) scheme for enhancing storage space in northeastern states.
100 Bangladeshi, Rohingyas held in 5 months at Agartala railway station alone
Around 100 infiltrators including 87 Bangladeshi nationals were arrested during the past five months at the Agartala railway station alone, while hundreds of other intruders from across the border were nabbed in different places of Tripura, officials said here on Friday.
Minister Sudhangshu Das pitches for fishery and livestock rearing to become self-reliant; chairs review meeting
The state animal resource development department (ARDD) Sudhangshu Das on Thursday chaired a west Tripura district level review meeting on various developmental schemes under the SC Welfare, ARDD and Fishery department here in the conference hall of the District Magistrate of West Tripura district.