Business
Summit stresses better investment climate | The Express Tribune
Progressive policies, stable business environment required to woo local, foreign investors
Pakistan Investment Potential Summit.. Photo: Facebook
ISLAMABAD:
The Pakistan Investment Potential Summit concluded with a consensus among business leaders and investment experts that Pakistan possesses solid economic fundamentals and immense untapped potential capable of driving sustainable economic growth and attracting significant local and foreign investment.
The summit, hosted by Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Tahir Mehmood, brought together leading figures from the business community to deliberate on strategies for enhancing investment and economic development in the country. Prominent speakers included Adviser to Prime Minister on Tourism Sardar Yasir Ilyas Khan and Faisal Town Group Chairman Chaudhry Abdul Majeed.
The recommendations finalised by the summit will be presented to the government for consideration. Speakers emphasised that Pakistan’s strategic geographical location, large domestic market, youthful population and diverse natural resources provide a strong foundation for economic expansion.
They observed that key sectors including real estate, tourism, hospitality, construction, information technology, agriculture, energy and manufacturing offer substantial opportunities for investment and can play a pivotal role in accelerating economic growth, if supported by progressive policies and a stable business environment.
The summit stressed that Pakistan was well-positioned to become a regional economic hub provided that structural reforms were implemented and investor confidence was strengthened through consistent economic policies.
For this purpose, the summit recommended the following measures: Ensuring policy consistency and macroeconomic stability to foster long-term investor confidence; improving the ease of doing business through regulatory reforms, digitalisation of government services and simplified procedures; introducing investment-friendly tax policies and incentives to attract both domestic and foreign investors; and accelerating infrastructure development, particularly in transport, logistics and energy sectors.
The recommendations also included promoting Special Economic Zones and industrial clusters to facilitate industrial growth; strengthening public-private partnerships for major development and infrastructure projects; enhancing export promotion initiatives to boost foreign exchange earnings and industrial productivity; expanding digital infrastructure and IT ecosystem to support growth of the technology sector; and developing tourism infrastructure and hospitality services to capitalise on Pakistan’s natural and cultural assets.
Summit speakers called for encouraging sustainable urban development and modern real estate planning to support economic expansion; improving access to finance for SMEs and startups to promote entrepreneurship and innovation; ensuring transparent and efficient regulatory frameworks to build investor trust; strengthening vocational training and skill development programmes to equip youth with market-relevant skills; and promoting Pakistan’s positive investment narrative internationally through economic diplomacy and global investment forums.
Participants expressed confidence that the implementation of those recommendations would help create a more enabling and business-friendly investment environment, stimulate economic activity, enhance investor confidence and position Pakistan as a competitive destination for global investors while ensuring inclusive and sustainable economic development.
On the first day of the summit, Tahir Mehmood, in his opening remarks, said that Pakistan enjoys strong economic potential due to its strategic geographical location, young population and expanding infrastructure network. He said the objective of the summit was to create constructive dialogue among business leaders and policymakers to identify practical measures to attract investment and accelerate economic growth.
He presented a case study on the role of infrastructure corridors in shaping urban expansion and investment opportunities, noting that cities expand along major connectivity routes, with similar trends emerging in Pakistan.
Participants observed that expansion of connectivity networks and rapid urban development were creating new investment opportunities in tourism, real estate, services and industry.
Business
Vets to be legally required to publish price lists and cap prescription fees
Vets will be legally bound to prescription fee caps and publishing price lists among new measures which will start coming into force later this year, the competition watchdog has announced.
The Competition and Markets Authority (CMA) said its final reforms for the sector will help pet owners better navigate the vet services market.
Other legally binding measures will include a price comparison website and mandatory branding by the large groups to boost competition and drive down prices.
The CMA said pet owners using a vet practice that is part of a larger chain can expect to see changes before Christmas, including standard price lists.
The measures follow the CMA finding that fees have risen at almost twice the rate of inflation, with pet owners not being given enough information about their vet and the prices of treatments.
Martin Coleman, chairman of the independent Inquiry Group, said: “This is the most extensive review of veterinary services in a generation, and today’s reforms will make a real difference to the millions of pet owners who want the best for their pets but struggle to find the practice, treatment and price that meets their needs.
“Too often, people are left in the dark about who owns their practice, treatment options and prices – even when facing bills running into thousands of pounds.
“Our measures mean it will be made clear to pet owners which practices are part of large groups, which are charging higher prices, and for the first time, vet businesses will be held to account by an independent regulator.
“Our changes put pet owners at the centre but also help vets by enhancing trust in the profession and protecting clinical judgment from undue commercial pressure – and that is important to ensure our pets continue to get the best care.”
The CMA said practices must publish a comprehensive price list for standard services, including consultations, common procedures, diagnostics, written prescriptions and cremation options under its new rules.
Prescriptions – for which “many” practices charge £30 or more for each – are to be capped at £21 for the first medicine and £12.50 for any additional medicines.
Practices must also provide a written estimate in advance for any treatment expected to cost £500 or more, including aftercare costs, as well as an itemised bill.
Emergency care will be the only exception for written estimates.
Prices and information about who owns the surgery are to be made available to pet owners through the Royal College of Veterinary Surgeons (RCVS) ‘Find a Vet’ service, which will share the data with third-party comparison sites.
Vet businesses must make it clear whether they are part of a group or an independent business, with details of group ownership to be displayed on signs at the surgery and online.
British Veterinary Association president Rob Williams said: “The majority of the CMA’s measures focus on increasing transparency and information, which will help pet owners make more informed choices and support competition, which is a really positive step.”
He added: “Delivering highly skilled veterinary medicine is costly and whilst we recognise prices have risen sharply in recent years this is due to a number of factors, including the higher costs all businesses are experiencing – and vet practices are not immune.
“Plus, thanks to advances in diagnostics and medical technology over the last 20 years, vets can now do much more to manage disease and injury in animals, whereas in the past the only option available may have been to euthanase.
“Owners today also have a greater expectation of their vet, with many expecting human quality healthcare for their pets and whilst this is possible to deliver, it comes at a cost.”
Business
Gold price prediction today: Pressure on gold prices to continue on March 24, 2026 amid US-Iran war? Check outlook – The Times of India
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Business
Estée Lauder is in talks to merge with Puig amid ongoing turnaround plan
An Estée Lauder pop-up store is seen inside a Daimaru store on Nanjing Road in Shanghai, China, Aug. 6, 2021.
Costfoto | Future Publishing | Getty Images
Estée Lauder Companies said Monday that it is in talks with Spanish beauty group Puig to potentially merge the two companies.
“No final decision has been made, and no agreement has been reached,” Estée Lauder said in a statement.
Shares of the U.S. beauty company were down nearly 8% following the news, which was first reported by the Financial Times. Puig’s stock rose roughly 3%.
Puig owns major beauty brands including Charlotte Tilbury, Jean Paul Gaultier and Rabanne. The companies did not disclose any financial details of the potential deal.
Estée Lauder has been struggling amid ongoing headwinds from tariffs and its restructuring as it enacts its “Beauty Reimagined” turnaround plan to revitalize the business. In its second-quarter earnings report last month, the beauty retailer said it’s expecting a $100 million hit to its full-year profitability due to tariff impacts.
Estée Lauder’s stock has dropped roughly 25% this year.
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