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Pakistan’s manufacturing sector slump: Private investment plunges 46%; experts warn of long-term industrial decay – The Times of India

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Pakistan’s manufacturing sector slump: Private investment plunges 46%; experts warn of long-term industrial decay – The Times of India


Representative image (Picture credit: ANI)

Pakistan’s manufacturing industry, once considered a key driver of economic growth and employment, is undergoing one of its worst downturns in recent history. The sector has seen a steep 46 per cent fall in private investment over the past six years, raising fears of long-term stagnation among economists and industrial experts.According to The Express Tribune report cited by news agency ANI, private investment in manufacturing dropped from PKR 706 billion in FY2018–19 to just PKR 377 billion in FY2024–25, marking the weakest phase of industrial growth in more than a decade. Ali Imran Asif, Senior Executive Committee Member of the Lahore Chamber of Commerce and Industry (LCCI), warned that the current level of investment was “not enough to even replace depreciating machinery,” suggesting a deep erosion of Pakistan’s industrial foundation.“We are not dealing with a short-term dip; we are watching our industrial base disintegrate,” Asif said, as per The Express Tribune. He stressed that without structural reforms focused on productivity, innovation, and competitiveness, the country could face prolonged industrial paralysis.The combined contribution of the manufacturing and mining sectors to Pakistan’s GDP has remained stagnant at around 13.2 per cent over the past six years. Frequent policy changes, high energy costs, and volatile currency movements have severely affected export-oriented sectors such as textiles, leather, and engineering goods. Large-scale manufacturing output fell 1.5 per cent in FY25, reversing the 0.92 per cent growth recorded in FY24.In contrast, neighbouring economies like India and Bangladesh have maintained strong industrial growth supported by stable policies and export diversification. Economist Shahid Saleem noted that Pakistan’s slump is not merely the result of high interest rates but also reflects policy inconsistency and eroding investor confidence. Import restrictions and weak domestic demand have forced many factories to run below capacity, he added.Experts, as cited by ANI, warned that unless Pakistan swiftly formulates a credible industrial revival plan and ensures policy stability, the manufacturing sector’s decline will deepen further, undermining exports, employment and broader economic resilience.





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Critical Illness Claim Rejected? Here’s How You Can Fight Back

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Critical Illness Claim Rejected? Here’s How You Can Fight Back


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A rejected critical illness claim may not be the final word if the policy clearly covers the condition.

Policyholders can successfully challenge unfair decisions.(Representative Image)

Policyholders can successfully challenge unfair decisions.(Representative Image)

A policyholder recently faced trouble after his/her spouse was diagnosed with a serious brain-related illness. The condition was identified as bacterial meningitis with encephalitis. Believing the illness was covered, the family filed a critical illness claim with their insurer.

However, the insurance company turned down the request. The reason given was that the illness did not fall under the list of covered conditions. This left the family confused and unsure about the next step, especially at a time when medical stress and costs were already high.

Why A Rejected Claim May Still Be Valid

A claim rejection does not always mean the insurer is right. The first step is to read the policy document carefully. Most critical illness plans clearly list the illnesses they cover. In many policies, bacterial meningitis is included, but only if certain medical conditions are met.

In a similar case, a close review of the policy showed that the illness was listed among 32 covered conditions. The medical records also clearly confirmed the diagnosis and seriousness of the disease. When both the policy terms and medical proof match, the rejection can be questioned.

How To Raise The Issue With The Insurer

The next step is to approach the insurer’s grievance team. This means sending a clear written request that explains why the claim should be accepted. It is important to point out the exact policy clauses and attach all medical reports.

In the case mentioned, the policyholder shared hospital records, diagnosis details, and proof of treatment. Despite this, the insurer stuck to its earlier decision and did not provide any new explanation. This is when many people give up, but there is still another option available.

When The Insurance Ombudsman Can Help

If the insurer does not resolve the issue, the policyholder can approach the insurance ombudsman. Filing a complaint here does not cost anything. The ombudsman reviews both the policy terms and the medical evidence.

During the hearing in this case, the policyholder submitted hospital documents and a doctor’s certificate. The records confirmed that the patient had a lasting brain-related problem for over six weeks, which is an important requirement in many critical illness policies. The insurer failed to provide proof to challenge these findings.

What This Case Teaches Policyholders

After reviewing all details, the ombudsman ruled in favour of the policyholder and asked the insurer to pay the claim amount to the nominee. This shows that unfair claim rejections can be overturned if the policy terms are clear and the documents are in order.

It is always wise to read your policy closely, keep complete medical records, and use the grievance and ombudsman process when needed. Many rejected claims can be resolved because the facts and the policy are on the customer’s side.

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India’s Forex Reserves Surge $4.36 Billion To $693 Billion, Gold Holding Rises $2.6 Billion

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India’s Forex Reserves Surge .36 Billion To 3 Billion, Gold Holding Rises .6 Billion


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India’s Latest Forex Reserves: The value of the gold reserves jumps $2.623 billion to $110.365 billion during the week ended December 19.

India’s Latest Forex Reserves.

India’s foreign exchange (forex) reserves surged $4.368 billion to $693.318 billion during the week ended December 19, according to the latest data from the Reserve Bank of India (RBI). The value of the gold reserves jumped $2.623 billion to $110.365 billion during the week.

The overall kitty had increased by $1.689 billion to $688.949 billion in the previous week.

For the week ended December 19, foreign currency assets, a major component of the reserves, increased by $1.641 billion to $559.428 billion, according to the Reserve Bank of India’s latest ‘Weekly Statistical Supplement’ data.

Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.

The special drawing rights (SDRs) were up by $8 million to $18.744 billion.

India’s reserve position with the IMF was up by $95 million to $4.782 billion in the week, according to the RBI data.

The price of the safe-haven asset gold has been on a sharp uptrend over recent months, perhaps amid heightened global uncertainties and robust investment demand.

After the last monetary policy review meeting, the RBI had said that the country’s foreign exchange reserves were sufficient to cover more than 11 months of merchandise imports. Overall, India’s external sector remains resilient, and the RBI is confident it can comfortably meet external financing requirements.

In 2023, India added around $58 billion to its foreign exchange reserves, contrasting with a cumulative decline of $71 billion in 2022. In 2024, reserves rose by just over $20 billion. So far in 2025, the forex kitty has increased by about $47-48 billion, according to data.

Foreign exchange reserves, or FX reserves, are assets held by a nation’s central bank or monetary authority, primarily in reserve currencies such as the US dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.

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Irdai fines Reliance General Insurance over ‘commission’ – The Times of India

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Irdai fines Reliance General Insurance over ‘commission’ – The Times of India


MUMBAI: The Irdai on Friday, fined Reliance General Insurance Rs 1 crore in Hyderabad for routing unauthorised payouts through marketing and awareness expenses that amounted to disguised commissions. The penalty follows Irdai’s examination of transactions across FY19, FY20 and FY21. According to the regulator, the insurer channeled payments to brokers, agents, corporate agents and unlicensed entities under labels such as consumer awareness, marketing and advertising.



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