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Govt approves major regulatory reform package | The Express Tribune

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Govt approves major regulatory reform package | The Express Tribune



ISLAMABAD:

The Cabinet Committee on Regulatory Reforms (CCoRR), chaired by Federal Minister for Investment Qaiser Ahmed Sheikh, on Friday reviewed and approved the third quarterly Regulatory Reform Package prepared by the Board of Investment (BOI).

According to an official statement, the meeting marked another step in the government’s effort to modernise Pakistan’s regulatory framework under directives of the prime minister.

The package, developed by the BOI reform team, sets a forward-looking agenda to enhance transparency, streamline processes, and improve the ease of doing business. Key reform areas included the Regulatory Governance Strategy 2025-2030, aimed at establishing a modern legal system through creation of a Pakistan National Legal Registry (PLR).

The package also proposed simplification of bank account opening for businesses. Online onboarding for low-risk firms and the launch of an Asaan Business Bank Account (ABA) for SMEs were highlighted.

Another major component is the shift from fragmented district registries to a centralised National Business Registry managed by the Securities And Exchange Commission Of Pakistan (SECP). As per the statement, this will repeal the outdated Partnership Act, 1932. A new risk-based and technology-enabled framework for security clearance of foreign investors was also proposed, introducing statutory timelines and greater transparency.

The review of the Companies Act, 2017 formed another pillar of the package. Proposed updates focus on modernising requirements for listed and unlisted companies, removing outdated provisions and aligning with international best practices.

During the meeting, the committee reviewed all proposals in detail. The reforms were endorsed and regulators agreed on implementation. Directions were issued to federal ministries and departments to ensure time-bound execution.

The National Business Registry will eliminate duplication across district registries, allowing faster firm registration with nationwide recognition of legal status. The risk-based clearance system will give foreign investors predictable timelines, reducing uncertainty and enabling quicker project starts. Amendments to the Companies Act will cut compliance costs and improve governance by easing outdated requirements.

Federal minister for investment commended the BOI reform team and regulatory bodies for their role. He said the review reflected the government’s commitment to regulatory modernisation and creating a transparent, efficient business environment.



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‘For national & economic security’: Trump admin mulls chip-based tariffs on foreign electronics, says report – what it means – The Times of India

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‘For national & economic security’: Trump admin mulls chip-based tariffs on foreign electronics, says report – what it means – The Times of India


The Donald Trump-led US administration is considering a plan to impose tariffs on imported electronic devices depending on the number of chips in each one of them, Reuters reported, citing three sourcesUnder the proposal, the US commerce department would calculate tariffs as a percentage of the product’s estimated chip value, in a move designed to push manufacturers to shift production to America.

PM Modi Will Soon Dedicate India’s 1st Made-In-India Semiconductor Chip From Sanand Plant: Vaishnaw

“America cannot be reliant on foreign imports for the semiconductor products that are essential for our national and economic security,” White House spokesperson Kush Desai told Reuters, regarding the matter.“The Trump administration is implementing a nuanced, multi-faceted approach to reshoring critical manufacturing back to the United States with tariffs, tax cuts, deregulation, and energy abundance,” Desai added.Uncertainty remains about the scope of products that would be affected, tariff rates, and possible exemptions. The commerce department was weighing a 25% rate on chip content, and 15% for electronics from Japan and the EU, though figures were still preliminary, a source told the agency.

What will be the impact if tariff gets imposed?

If implemented, the policy would apply to a broad range of consumer goods, from toothbrushes to laptops, potentially raising costs for US households. Economists warned it could also worsen inflation. According to Michael Strain, an economist with the conservative American Enterprise Institute, the move would push up consumer prices “at a time when the US has an inflationary problem, with inflation clearly above the Fed’s target and accelerating.”He added that even domestically produced goods could get costlier due to higher tariffs on imported inputs.Trump has already rolled out sweeping tariffs this year, including 100% duties on branded drugs and 25% on heavy-duty trucks. Earlier in April, his administration launched probes into pharmaceuticals and semiconductors, calling foreign reliance a national security threat.A potential exemption linked to investments in US manufacturing, dollar-for-dollar credits only if a company shifts half its production to America, has been discussed but not finalised. Meanwhile, earlier proposals to exempt chipmaking tools faced pushback from the White House, with sources saying Trump dislikes carve-outs. Taiwan Semiconductor Manufacturing Co. (TSMC) and South Korea’s Samsung Electronics, the world’s biggest non-US chipmakers, could be among the hardest hit.





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‘Trying to get them out’: India urges Russia to release 27 more nationals allegedly forced into military; issues advisory to citizens | India News – The Times of India

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‘Trying to get them out’: India urges Russia to release 27 more nationals allegedly forced into military; issues advisory to citizens | India News – The Times of India


MEA spokesperson Randhir Jaiswal (Image credits: PTI)

NEW DELHI: India has asked Russia to release 27 more of its citizens who were recently recruited into the Russian military, the ministry of external affairs (MEA) said on Friday.“As per our information, 27 Indian nationals are presently serving in the Russian army. We are also in close touch with their family members in the matter,” MEA spokesperson Randhir Jaiswal told reporters at his weekly briefing.

‘Incorrect, Baseless’: India Rebukes NATO Chief’s Claim of PM Modi Calling Up Putin After US Tariff

Jaiswal said the government has taken up the issue at the highest levels. “We have strongly raised this matter with Russian authorities in Moscow and with the Russian embassy in New Delhi, and asked for them to be freed as soon as possible. We are trying to get them out,” he said.The MEA also issued a fresh warning to citizens. “We once again strongly urge all Indian nationals to stay away from the offers being made to serve in the Russian army as they are fraught with danger and risk to life,” Jaiswal added, as quoted by PTI.One such case is that of Rakesh Kumar, a 30-year-old from Uttarakhand, who had travelled to Russia for higher studies. His family alleged that he was coerced into joining the Russian army and sent to the war front in Ukraine. They said they have had no contact with him since early September and are desperate for help. The family had written to the MEA, sought assistance from the Indian embassy in Moscow, and approached local officials in a bid to bring him back.Reports indicate that some Indians holding student and business visas were forced into joining Russian military units deployed on the frontlines in Ukraine. India has repeatedly asked Russia to release all Indians serving as support staff, including cooks and helpers. Prime Minister Narendra Modi also raised the issue during his visit to Moscow last year.According to official figures, more than 150 Indians have been recruited into the Russian military. At least 12 have been killed, 96 discharged, and 16 remain missing.





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Sinclair, Nexstar will bring ‘Jimmy Kimmel Live’ back to owned ABC stations on Friday

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Sinclair, Nexstar will bring ‘Jimmy Kimmel Live’ back to owned ABC stations on Friday


Sinclair and Nexstar are returning “Jimmy Kimmel Live!” to ABC affiliate broadcast stations beginning Friday, the companies said in separate statements.

The announcements come three days after Disney’s ABC broadcast network returned the late night program to its air after a nearly week-long suspension. Disney had temporarily suspended the late night show following comments Kimmel made about the alleged murder of conservative activist Charlie Kirk and President Donald Trump’s MAGA movement.

“Our objective throughout this process has been to ensure that programming remains accurate and engaging for the widest possible audience. We take seriously our responsibility as local broadcasters to provide programming that serves the interests of our communities, while also honoring our obligations to air national network programming,” Sinclair said in a statement on Friday.

“Over the last week, we have received thoughtful feedback from viewers, advertisers, and community leaders representing a wide range of perspectives,” Sinclair said. “We have also witnessed troubling acts of violence, including the despicable incident of a shooting at an ABC affiliate station in Sacramento. These events underscore why responsible broadcasting matters and why respectful dialogue between differing voices remains so important.”

The broadcast station owners said earlier this week they would continue to preempt Kimmel’s late night show, meaning it would be unavailable on local stations for roughly 20% of the country, while they evaluated the situation and continued discussions with Disney.

Sinclair owns roughly 40 ABC affiliate stations in the U.S., including one in in Washington, D.C. Nexstar owns about 30 in markets including Salt Lake City and New Orleans.

Kimmel addressed the situation — and the ongoing preemptions — during his returning show this week.

“We are still on the air in most of the country, except, ironically, from Washington, D.C., where we have been preempted,” Kimmel said during Tuesday’s monologue. “After almost 23 years on the air, we’re suddenly not being broadcast in 20% of the country, which is not a situation we relish.”

Sinclair said Friday it had proposed measures to “strengthen accountability, viewer feedback, and community dialogue” at ABC and its affiliates.

“While ABC and Disney have not yet adopted these measures, and Sinclair respects their right to make those decisions under our network affiliate agreements, we believe such measures could strengthen trust and accountability,” it said.

Nexstar said in a statement: “We have had discussions with executives at The Walt Disney Company and appreciate their constructive approach to addressing our concerns.”

Disney declined to comment Friday.

Kimmel’s suspension last week came shortly after Nexstar announced it would not air the program in light of the host’s comments. Sinclair soon after said it would likewise preempt the program.

Those announcements followed comments from Federal Communications Commission Chairman Brendan Carr that suggested ABC affiliate stations could be at risk of losing broadcast station licenses over Kimmel’s remarks, which came during a show monologue.

The series of events raised questions about influence by the Trump administration on the media and First Amendment protections.

“Our decision to preempt this program was independent of any government interaction or influence,” Sinclair said Friday. “Free speech provides broadcasters with the right to exercise judgment as to the content on their local stations. While we understand that not everyone will agree with our decisions about programming, it is simply inconsistent to champion free speech while demanding that broadcasters air specific content.”

Earlier this week, Sen. Maria Cantwell, D-Wash., sent a letter to Sinclair pushing to bring “Jimmy Kimmel Live!” back on air. Sinclair owns the Seattle ABC affiliate station.

Nexstar similarly denied any government influence.

“As a local broadcaster, Nexstar remains committed to protecting the First Amendment while producing and airing local and national news that is fact-based and unbiased and, above all, broadcasting content that is in the best interest of the communities we serve,” Nexstar said in a statement.

“We stand apart from cable television, monolithic streaming services, and national networks in our commitment – and obligation – to be stewards of the public airwaves and to protect and reflect the specific sensibilities of our communities,” the statement continued. “To be clear, our commitment to those principles has guided our decisions throughout this process, independent of any external influence from government agencies or individuals.”



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