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FPCCI Warns Against Remittance Reliance, Calls for Export-Led Growth – SUCH TV

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FPCCI Warns Against Remittance Reliance, Calls for Export-Led Growth – SUCH TV



Mr. S. M. Tanveer, leader of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI), has expressed serious concern over Pakistan’s growing dependence on remittances and debt-driven consumption instead of exports as the foundation for economic growth and development.

In a statement, Mr. Tanveer highlighted the structural challenges facing Pakistan’s export sector, noting an estimated $60 billion gap in unrealized export potential.

He pointed out that Pakistan’s export-to-GDP ratio has declined sharply—from 16 percent in the 1990s to 10.4 percent in 2024.

Comparing Pakistan’s performance with regional competitors, he said Vietnam’s exports account for 95 percent of its GDP, while Bangladesh stands at around 20 percent and Thailand at nearly 60 percent, underscoring Pakistan’s relative underperformance.

Mr. Tanveer attributed the weak export performance to high production costs, limited market access, low productivity, and inadequate infrastructure.

He stressed that without urgent reforms, Pakistan risks missing opportunities for sustainable economic growth.

“Pakistan’s exports are facing significant challenges, and it is imperative that we address these issues to unlock the country’s true potential,” he said.

He called for a market-determined exchange rate, stronger trade finance mechanisms, improved logistics and regulatory compliance, and enhanced trade agreements to boost exports.

Emphasizing the need for an export-led growth strategy, Mr. Tanveer urged stakeholders to reduce reliance on imports by creating a business-friendly environment, investing in infrastructure, and promoting innovation and value addition in export-oriented sectors.

The FPCCI leader called on the government to take concrete and immediate measures to revive exports, warning that sustainable economic growth and development cannot be achieved without strengthening Pakistan’s export base.



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Finance ministers and top bankers raise serious concerns about Mythos AI model

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Finance ministers and top bankers raise serious concerns about Mythos AI model



Experts say Mythos potentially has an unprecedented ability to identify and exploit cybersecurity weaknesses.



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Anthropic’s new AI model exposes fresh risks, flaws for cybersecurity, IT services – The Times of India

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Anthropic’s new AI model exposes fresh risks, flaws for cybersecurity, IT services – The Times of India


New Delhi: A powerful new AI model is forcing govts, banks, and technology firms to rethink the rules of cybersecurity – and in India, the stakes may be even higher.Claude Mythos, developed by Anthropic, has demonstrated the ability to autonomously detect and exploit software vulnerabilities, including flaws that have persisted for decades. Early tests revealed that the model could identify long-standing weaknesses and simulate complex, multi-step cyberattacks, prompting the company to restrict its wider release. Anthropic CEO Dario Amodei highlighted the shift, noting that AI systems are now capable of finding vulnerabilities “that humans have missed”, a signal of how quickly the cybersecurity landscape is changing.US Treasury Secretary Scott Bessent reportedly convened a meeting with top bank executives – including leaders from JPMorgan Chase, Goldman Sachs, Citigroup, BoA, and Morgan Stanley – to assess the risks posed by such advanced AI systems.That concern is not theoretical. According to Jaydeep Singh, GM for India at Kaspersky, the emergence of such systems represents a turning point not just for security professionals, but for everyday users. “We have been closely monitoring how AI is reshaping the threat landscape, and Claude Mythos represents a moment that every user, not just the cybersecurity industry, needs to understand,” Singh said.The dual-use nature of AI is at the heart of the concern. The same capability that strengthens defences can just as easily be weaponised. “The same capability that finds a 27-year-old vulnerability in hardened infrastructure is the capability that, in the wrong hands, turns every unpatched system into an open door,” Singh added.Cybersecurity firm Check Point Software Technologies echoed the warning. Sundar Balasubramanian, MD, India and South Asia, for Check Point, says, AI is “dramatically lowering the barrier to entry for cyber attackers,” enabling even less-skilled actors to identify and exploit vulnerabilities. He added that defensive tools can be repurposed offensively, compressing the traditional gap between attackers and defenders. Jayant Saran, partner, Deloitte India, described this as a “changed reality,” where organisations must prepare for risks that were previously invisible. He called AI a “double-edged sword…that cannot be reversed,” highlighting an accelerating race between those securing systems and those attempting to break them.In India, the risks are amplified by scale. From UPI to banking and govt platforms, millions depend on digital infrastructure – much of it built on legacy systems. These systems are often slower to patch, harder to monitor, and lack continuous threat intelligence, creating what Saran called an “asymmetric risk exposure.” Singh pointed out that this gap is especially critical in India, where legacy infrastructure serves hundreds of millions.Beyond cybersecurity, ripple effects could reach financial markets. Analysts say models like Mythos could automate parts of software development, testing, and security – core functions of IT services industry. While disruption may be gradual, labour-intensive outsourcing models could face pressure, while firms embracing AI may benefit.



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Could a digital twin make you into a ‘superworker’?

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Could a digital twin make you into a ‘superworker’?



Firms say digital twins make staff more productive, but are they a potential legal minefield?



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