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
Top stocks to buy today: Stock recommendations for May 7, 2026 – check list – The Times of India
Top stock market recommendations: Aakash K Hindocha, Deputy Vice President – WM Research, Nuvama Professional Clients Group has picked Godrej Properties, V-Mart Retail, and Dr Reddy’s Laboratories as the top stock recommendations for May 7, 2026. The analyst has also shared his outlook for Nifty, Bank Nifty. Let’s take a look:Index View: NiftyThe index has broken out of its consolidation band of 23750 – 24300 as global news flow acted as a tailwind in the second half of yesterday’s session. 24000 is now likely to act as base for an up move towards 24770 / 25000. A 2 week range has broken out, and initial upside can unfold for a target of 500 points higher.Bank NiftyBank Nifty as well has broken out from its sideways one-week range, the index had been underperforming for the past 1 week to Nifty while that underperformance seems to be ending now. The ongoing leg can now open for another 1000 pt upside for a target of 57100 odd.
Stock recommendations:
Godrej Properties (BUY):
- LCP: 1867
- Stop Loss: 1750
- Target: 2080
Godrej Properties is on the verge of an 18-month sloping trendline breakout which could potentially mark an end to its ongoing 6 quarter correction which eroded over 50% of market value from its all-time highs. Stock is likely to gain further traction given its weightage on the Nifty Realty index and strength across the board on the index. Nifty realty is by far the best sectoral index on percentage gain from turf to current highs in this broader market recovery started from fiscal 2027.V-Mart Retail (BUY):
- LCP: 650
- Stop Loss: 610
- Target: 714
An inverted head and shoulder pattern has broken out on daily charts of VMART. This is a textbook style formation given both shoulders in the pattern have spent an equal amount of time in its formation before breaking out. Stock has also closed at a 12 week high yesterday with results due today, expectations have built up on the counter while price action suggests a northward continuation to unfold.Dr Reddy’s Laboratories (BUY):
- LCP: 1311
- Stop Loss: 1265
- Target: 1420
The stock has broken out from its18-month consolidation on weekly charts with it completing its retest of the breakout as well. With Nifty Pharma index making a fresh all time high, a strong tailwind on all of its components are here to play. DRREDDY has ~10% weightage on the index and its rising 200 DMA is likely to act as a smoothened support going forward. Strong traction is likely to unfold once the stock starts trading above the 1325-1330 zone. (Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
Business
Deliveroo launches restaurant booking service for London diners after US takeover
Deliveroo is set to significantly broaden its offerings beyond its core takeaway service, introducing a new feature that will allow customers to book restaurant reservations directly through its platform.
The initiative, named Deliveroo Reservations, is scheduled to launch initially in London this Thursday.
Customers will gain the ability to secure tables at a range of prominent London eateries, including Dishoom, Dove, Hide, Kricket, Barrafina, and Kolae. This expansion marks a strategic move for the company, which was acquired by US-based DoorDash for £2.9 billion last year.
The new reservation system integrates technology from SevenRooms, a restaurant booking platform business that DoorDash also purchased for approximately £900 million.
This integration follows DoorDash’s own expansion into restaurant bookings on its platform in the United States late last year, setting a precedent for Deliveroo’s latest venture.
This move is central to Deliveroo’s ambitions to grow beyond its established takeaway delivery model in the UK. While the feature will first be rolled out to restaurants in London, Deliveroo has indicated plans to extend the service across the wider UK later in the year.
Suzy McClintock, vice president for consumer and new verticals at Deliveroo, commented on the development: “This launch is about supporting restaurants to grow in new ways. Whether it’s a Deliveroo order or a reservation in store, we want to drive discovery, demand and revenue across every channel.”
She added: “By fully integrating SevenRooms into the Deliveroo app, we’re giving restaurants access to new customers and giving diners an easier way to discover and book some of London’s best tables – all in one place.”
Joel Montaniel, vice president and co-founder of SevenRooms, echoed this sentiment, stating: “Bringing reservations into the Deliveroo app gives London restaurants a new way to connect with diners and grow, while making it easy for consumers to discover and book great restaurants.”
Business
Warner Bros. Discovery books $2.9 billion net loss tied to Paramount deal, restructuring costs
An American flag flies at Warner Bros. Studio in Burbank, California, on Sept. 12, 2025.
Mario Tama | Getty Images
Warner Bros. Discovery on Wednesday reported a staggering net loss for the first quarter, but it has an explanation.
The company booked a net loss of $2.9 billion, far larger than the net loss of $453 million it reported in the year-earlier quarter.
The figure included $1.3 billion of “pre-tax acquisition-related amortization of intangibles, content fair value step-up and restructuring expenses” as well as the $2.8 billion termination fee that Warner Bros. Discovery owed Netflix after their pending transaction fell through in February.
Netflix walked away from its proposed deal to buy WBD’s assets after Paramount Skydance came in with a higher offer. Paramount agreed to pay the termination fee as part of its agreement to buy the entirety of WBD, but the cost lives on WBD’s books until the close of that deal.
Since the amount is refundable to Paramount under certain circumstances, such as if it were to terminate the deal with Paramount for a higher offer, the obligation would be shifted to WBD.
Paramount’s proposed acquisition received approval from WBD shareholders in April and is currently in the midst of a regulatory review process. On Monday, Paramount said in its earnings release that it has “made significant progress” toward closing the deal, which it expects to be completed in the third quarter.
WBD on Wednesday also reported first-quarter revenue that was down 1% year over year to $8.89 billion. The company’s adjusted earnings before interest taxes, depreciation and amortization was up 5% to $2.2 billion. WBD had $33.4 billion in gross debt at the end of the quarter.
Streaming continued to be a highlight for the company.
Total streaming revenue was up 9% to about $2.89 billion as subscriber revenue increased due to the expansion of HBO Max — WBD’s flagship streaming platform — in international markets. Advertising revenue for the unit was up 20% due to an increase in customers subscribing to the ad-supported tier.
The company said in a shareholder letter it exceeded its guidance of more than 140 million global streaming customers at the end of the first quarter, and it remains on track to surpass 150 million global subscribers by the end of the year.
WBD’s portfolio of pay TV networks, which includes CNN, TBS and the Discovery Channel, continued to weigh on the company. The linear TV networks reported $4.38 billion in revenue, down 8% from the prior year. The company said linear advertising revenue was down 11%, which was primarily driven by the absence of NBA media rights from its portfolio.
Revenue for the film studio division, meanwhile, increased 35% to $3.13 billion year over year.
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