Business
Reviving Pakistan’s seafood industry, a path to economic self-sufficiency | The Express Tribune
With corruption curbed, sustainable practices, seafood industry can once again be a foreign exchange earner
Due to illegal and overfishing by trawlers within the 12-nautical-mile zone, the fisherfolk and their children are dying of hunger and are being burdened by heavy loans from loan sharks that they may never be able to pay throughout their lifetime. Photo: file
KARACHI:
The days are remembered when seafood was exported to the US, Japan, South Korea, Europe, etc where the prices fetched were much higher than where the seafood is being exported at this time.
Each and every factor leads to the dent in the economy of the country where the urge to earn foreign exchange continues. The leaders are frequently travelling seeking a few million or billion USD as loan to keep up with the need of meeting the inevitable financial demands but least attention is being given to overcome this dilemma and crisis.
Why then a country blessed by the Creator of every means available begs. The saying goes, “The intelligent learn from other’s mistakes while the fools learn from their own”, can the policymakers be worse than the fools to repeatedly commit the same mistakes rendering the country to fall in a deep financial quagmire?
In the need for short-term benefits, the hen that laid the golden eggs has been eaten and now without any golden eggs, the only option left, leads to begging for just enough to keep the country going, it’s so pathetic.
Seafood, once a major source of foreign exchange earnings, can be revived to its former prominence, provided corruption is curtailed to an extent as it may be impossible to curtail it one hundred per cent. There is still a short time left to protect coastal fish and marine life to benefit the fisherfolk and the country’s financial wealth to generate foreign exchange earnings. It is imperative to focus on these high-impact actions before it is too late and the matter reaches a point of no return:
Individual actions
1-Restrict the use of fermented sardines/small fish for poultry feed.
2-Choose sustainable seafood: Use guides like Monterey Bay Aquarium’s Seafood Watch to avoid overfished species.
3-Reduce chemical runoff: Use non-toxic garden products and minimise fertilisers; excess nutrients cause “dead zones” in coastal waters.
4-Eliminate plastic: Single-use plastics entangle marine life and degrade into harmful microplastics.
5-Fish responsibly: Adhere to local size and bag limits to ensure juvenile fish reach breeding age.
Community & policy efforts
1-Protect key habitats: Advocate for the preservation of mangroves, seagrass beds, and coral reefs, which serve as vital nurseries for 25% of all marine life.
2-Support marine protected areas (MPAs): These “underwater parks” allow fish populations to recover and spill over into fishing zones with full participation of the local fisherfolks.
3-Participate in cleanups: Removing debris from beaches prevents waste from entering the food chain.
4-Restrict fishing by trawlers within 12 nautical miles of the coast with the participation of the local fisherfolk by legally empowering them.
5-Restrict the use of illegal nets that should be punishable by serious consequences.
6-For the provincial governments to empower the Pakistan Marine Security Agency and the Coast Guard to ensure compliance with fishing policies as the governments of Sindh and Balochistan seemed to have miserably failed in this matter.
Due to illegal and overfishing by trawlers within the 12 nautical mile zone, the fisherfolk and their children are dying of hunger and are being burdened by heavy loans from loan sharks that they may never be able to pay throughout their lifetime. Small boats take their diesel and rations on credit and spend days in the ocean under the open sky. They return with hardly enough fish to sell and pay back the loans against expenses incurred and this cycle burdens them more and more reaching a point, where it becomes impossible for them to cater for their basic expenses.
Over and above that the trawlers are illegally fishing within the restricted 12 nautical mile range, they are now using search lights at night to lure the small fish from the bottom and around sweeping them by using illegal fishing nets. The coastal belt can be seen lit with lights at night but the government functionaries fail to take any action and look the other way.
Furthermore, the fish wealth has depleted and is further depleting while reducing the export of good quality/species to earn the much-needed foreign exchange for the country. Furthermore, due to the dilapidated hygienic conditions, many high-paying countries have banned import of seafood from Pakistan.
This article is written to awaken all those at the helm of affairs that this is not a small issue and warrants immediate action and cognizance to save the fish wealth in the best interest of the country. Improving the fish wealth can be a step towards breaking the beggar’s bowl.
The writer is an enthusiast angler and independent director on the board of Saindak Metals, Ministry of Energy
Business
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Union Budget 2026 Live Updates: Union Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026-27 in Parliament, her record ninth budget speech. During her Budget Speech, the FM will detail budgetary allocations and revenue projections for the upcoming financial year 2026-27. Sitharaman is notably dressed in a Kanjeevaram Silk saree, a nod to the traditional weaving sector in poll-bound Tamil Nadu.
The budget comes at a time when there is geopolitical turmoil, economic volatility and trade war. Different sectors are looking to get some support with new measures and relaxations ahead of the budget, especially export-oriented industries, which have borne the brunt of the higher US tariffs being imposed last year by the Trump administration.
On January 29, 2026, Sitharaman tabled the Economic Survey 2025-26, a comprehensive snapshot of the country’s macro-economic situation, in Parliament, setting the stage for the budget and showing the government’s roadmap. The survey projected that India’s economy is expected to grow 6.8%-7.2% in FY27, underscoring resilience even as global economic uncertainty persists.
Budget 2026 Expectations
Expectations across key sectors are taking shape as stakeholders look to the Budget for support that sustains growth, strengthens jobs and eases financial pressures:
Taxpayers & Households: Many taxpayers want practical improvements to the income tax structure that preserve simplicity while supporting long-term financial planning — including broader deductions for home loan interest and diversified retirement savings options.
New Tax Regime vs Old Tax Regime | New Income Tax Rules | Income Tax 2026
Businesses & Industry: With industrial output and investment showing resilience, firms are looking for policies that bolster capital formation, ease compliance, and expand infrastructure spending — especially in manufacturing and technology-driven sectors that promise jobs and exports.
Startups & Innovation: The startup ecosystem expects incentives around employee stock options and capital access, along with regulatory tweaks that encourage risk capital and talent retention without increasing compliance burdens.
Also See: Stock Market Updates Today
The Budget speech will be broadcast live here and on all other news channels. You can also catch all the updates about Budget 2026 on News18.com. News18 will provide detailed live blog updates on the Budget speech, and political, industry, and market reactions.
We are providing a full, detailed coverage of the union budget 2026 here, with a lot of insights, experts’ views and analyses. Stay tuned with us to get latest updates.
Also Read: Budget 2026 Live Streaming
Here are the Live Updates of Union Budget 2026:
New Delhi: The Cabinet on Sunday approved the Union Budget 2026-27 during a meeting in Parliament chaired by Prime Minister Narendra Modi. A meeting of the Union Cabinet was held at Sansad Bhawan at 10 a.m., and after the Cabinet’s approval, Finance Minister Nirmala Sitharaman proceeded to Parliament to present the Budget.
Earlier, FM Sitharaman met President Droupadi Murmu and offered her a copy of the digital budget. The President also offered ‘dahi-cheeni’ (curd and sugar) to Sitharaman when she arrived at the Rashtrapati Bhavan. The Finance Minister was seen carrying her trademark ‘bahi-khata’, a tablet wrapped in a red-coloured cloth bearing a golden-coloured national emblem on it.
Minister of State for Finance Pankaj Chaudhary, Chief Economic Advisor Dr V. Anantha Nageswaran, Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal and other officials were seen accompanying the Finance Minister. Sitharaman was set to present her ninth consecutive Union Budget in the Lok Sabha. In 2021, she switched to using a digital tablet to carry the Budget papers, further promoting a modern and eco-friendly approach.
The ‘bahi-khata’ is a red pouch that holds the digital tablet containing the Budget documents. This year, Sitharaman opted for a deep maroon Kanjeevaram saree from Tamil Nadu. The saree featured a deep maroon base with a contrasting border and subtle gold detailing, paired with a yellow blouse.
The Budget is likely to strike a deft balance of sustaining growth momentum and maintaining fiscal consolidation. It also needs to address near-term challenges emanating from unprecedented geopolitical flux, said economists. According to economists, the budget is likely to focus more on capital expenditure, especially in sectors deemed to be strategically important owing to prevailing geopolitical compulsions.
While the FY26 Budget was more tilted towards stimulating middle-class consumption with tax reliefs, the FY27 Budget’s approach to stimulating consumption will be selective, they added.
Business
Education Budget 2026 Live Updates: What Will The Education Sector Get From FM Nirmala Sitharaman?
Union Education Budget 2026 Live Updates: Union Finance Minister Nirmala Sitharaman will present the Union Budget 2026–27 on February 1, with a strong focus expected on the Education Budget 2026, a key area of interest for students, teachers, and institutions across the country.
In the previous budget, the Bharatiya Janata Party government announced plans to add 75,000 medical seats over five years and strengthen infrastructure at IITs established after 2014. For 2025, the Centre had earmarked Rs 1,28,650.05 crore for education, a 6.65 percent rise compared to the previous year.
Meanwhile, the Economic Survey 2025–26, tabled in the Parliament of India, points to persistent challenges in school education. While enrolment at the school level is close to universal, this has not translated into consistent learning outcomes, especially beyond elementary classes. The net enrolment rate drops sharply at the secondary level, standing at just over 52 per cent.
The survey also flags concerns over student retention after Class 8, particularly in rural areas. It notes an uneven spread of schools, with a majority offering only foundational and preparatory education, while far fewer institutions provide secondary-level schooling. This gap, the survey suggests, is a key reason behind low enrolment in higher classes.
Stay tuned to this LIVE blog for all the latest updates on the Education Budget 2026 LIVE.
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Trump says India will buy oil from Venezuela, not Iran
Budget 2026: Cabinet gives green signal to Union Budget 2026–27
-
Business1 week agoSuccess Story: This IITian Failed 17 Times Before Building A ₹40,000 Crore Giant
-
Fashion1 week agoSouth Korea tilts sourcing towards China as apparel imports shift
-
Sports1 week agoTransfer rumors, news: Saudi league eyes Salah, Vinícius Jr. plus 50 more
-
Sports5 days agoPSL 11: Local players’ category renewals unveiled ahead of auction
-
Entertainment1 week agoThree dead after suicide blast targets peace committee leader’s home in DI Khan
-
Sports1 week agoWanted Olympian-turned-fugitive Ryan Wedding in custody, sources say
-
Tech1 week agoStrap One of Our Favorite Action Cameras to Your Helmet or a Floaty
-
Tech1 week agoThis Mega Snowstorm Will Be a Test for the US Supply Chain