Business
‘Pay workers before sweat dries,’ says minister | The Express Tribune
ISLAMABAD:
Federal Minister for Communications Abdul Aleem Khan paid tribute to millions of labourers on International Workers’ Day, stating that Islam places a sacred duty on employers to pay workers their wages ‘before their sweat dries’, according to an official statement issued on Friday.
Aleem Khan said the working class is the backbone of human progress and national prosperity. The tireless hard work of labourers, from fields to construction sites, guarantees a strong and prosperous Pakistan. He emphasised that the government prioritises the dignity, safety and fair wages of workers, and reaffirmed its commitment to protect the rights of the labour force.
Praising those in the communications and infrastructure sectors, Aleem Khan said these teams lay the foundations of a modern Pakistan. He paid special tribute to workers on highways and other vital projects, calling them national heroes.
Separately, Benazir Income Support Programme (BISP) Chairperson Senator Rubina Khalid paid tribute to Pakistan’s working class, reaffirming the government’s commitment to workers’ rights and social protection through BISP.
Khalid said May 1 serves as a reminder of the struggles and rights of workers, stressing that the labour class is the backbone of Pakistan’s development and that progress is impossible without them. She stated that the vision of Shaheed Mohtarma Benazir Bhutto and Shaheed Zulfikar Ali Bhutto was always pro?labour, and that BISP carries forward that legacy by providing financial support to millions of working?class families.
She emphasised that protecting workers’ rights is the hallmark of a civilised society, and that development without social protection remains an unfulfilled dream – a gap that BISP is actively bridging. Ensuring dignified employment, healthcare, education and social protection for workers is a fundamental state responsibility, with the protection of women and informal?sector workers remaining a top priority. WITH ADDITIONAL INPUT FROM APP
Business
New building standard makes fire safety advisory, raises height threshold to 24m – The Times of India
New Delhi: Residential buildings under 24 metres in height — a category that includes a large number multi-storey homes, such as the ill-fated one in Delhi’s Vivek Vihar — will fall outside the scope of “fire and life safety” provisions under the newly notified National Building Construction Standards (NBCS), which replaced the National Building Code (NBC) last week.NBCS fire and public safety norms, which are only “advisory” in nature, are applicable for buildings beyond 24 metres, against the earlier norm of 15 meters. Though the Deregulation Cell of Cabinet Secretariat had directed Bureau of Indian Standards (BIS) to keep fire and life safety out of NBCS, it was included due to pushback from technical experts.These provisions prescribe norms on how a building should be designed, equipped and managed to prevent fires and protect occupants if one occurs. This includes means of escape, and fire detection and alarm systems.The NBCS document said that “fire and life safety” is only for guidance and referral for state govt and local authority in respect of fire safety in buildings considering that “fire services is a state subject and a municipal function” as per the Constitution.“Provisions in NBCS have been updated considering the changes that have happened over the years. We have prescribed what states and municipalities can follow. It’s the responsibility of states and local authorities to ensure safety of structures and citizens,” said former Delhi Fire Service chief S K Dheri, who heads the fire safety committee at BIS.TOI has learnt that one of the key reasons for replacing NBC with NBCS was the confusion created by the term “Code.” Though NBC was voluntary, its title suggested legal enforceability, leading to disputes and litigation, and courts hauling up builders and govt entities for not following the code’s provisions.The document mentions that the nature of standards and codes has changed from a prescriptive regime, under which states and local authorities required hand holding, to a “more performance-oriented outlook, giving ample scope for innovation and decision-making”.However, experts involved in preparation of both NBC and current NBCS have raised concerns, pointing to inadequate institutional capacity of many municipal bodies to formulate detailed norms.Ajit Kumar SM, a committee member and president of Karnataka Professional Civil Engineers Act Steering Consortium, cautioned that increased state-level variation could result in inconsistent safety standards. He highlighted concerns about rising liability for professionals without adequate regulatory protection, potentially compromising public safety and professional integrity.
Business
In five charts: How UAE’s exit could affect Opec’s influence over the oil price
The BBC takes a look in charts at what the UAE’s departure could mean for the oil cartel and more widely.
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Business
Pakistan faces economic strain; oil surge drives inflation toward 11% – The Times of India
Pakistan’s struggling economy is likely to remain under sustained pressure, with double-digit inflation expected to persist if global oil prices continue to surge amid the ongoing Middle East crisis, according to a report by Dawn.Topline Securities Ltd, in its latest “Pakistan Strategy” report released Saturday, provided a grim assessment of the impact of rising energy costs and regional instability on the country’s economy and stock market. The brokerage described the situation as “prolonged and evolving,” warning that any improvement depends on an immediate and peaceful resolution to the conflict.The report, asx cited by ANI, said that under current conditions, inflation could average between 9 and 10 per cent over the next year, with fourth-quarter FY26 figures expected to exceed 11 per cent. These projections are based on oil prices at $100 per barrel, with every $10 increase adding around 50 basis points to inflation. If oil rises to $120 per barrel, annual inflation could reach 11 per cent, potentially forcing the State Bank of Pakistan into further aggressive interest rate hikes.The rising inflationary pressure is expected to slow economic growth. Topline Securities has cut its GDP forecast for FY27 to between 2.5 and 3.0 per cent from an earlier estimate of 4.0 per cent. Growth for FY26 is projected at 3.5 to 4.0 per cent, but the industrial sector remains vulnerable, with growth possibly dropping to just 1 per cent from nearly 4 per cent.According to Dawn, the current account deficit for FY27 could exceed $8 billion if the government fails to maintain strict import controls, worsening pressure on foreign exchange reserves. The fiscal deficit for FY26 is expected to range between 4.0 and 4.5 per cent of GDP, exceeding targets set by the International Monetary Fund.The Pakistan Stock Exchange has been among the worst-performing markets globally, reflecting the country’s heavy reliance on imported energy. Petroleum imports are projected to reach $15 billion in FY26, while Pakistan imports around 85 per cent of its energy needs. This dependence contributed to a 15 per cent decline in the market during the first quarter of the year.The economic outlook is further affected by a projected 3.5 per cent decline in remittances, with inflows from the Gulf Cooperation Council region expected to fall by 10 per cent. Exports are also forecast to decline by 4 per cent.On the currency front, the Pakistani rupee is expected to weaken to 298 against the US dollar by FY27. Persistent conflict could push depreciation beyond historical averages, increasing pressure on supply and demand.Dawn noted that while domestic exploration firms may eventually increase production to reduce reliance on liquefied natural gas imports, the near-term outlook remains marked by high interest rates, rising urea prices, and a growing dependence on emergency administrative measures to prevent a deeper economic crisis.
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