Business
‘Textile waste threatening blue economy, marine life’ | The Express Tribune
ISLAMABAD:
Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, has warned that the rising tide of textile and fashion waste flooding oceans poses a growing threat not only to marine life but also to Pakistan’s economy, climate resilience, and future generations.
In a statement on Saturday marking World Cleanup Day 2025, themed “Tackling Textile and Fashion Waste Through Circular Fashion,” the minister stressed urgent action for sustainable practices. He said protecting oceans is vital to secure the future for coming generations. World Cleanup Day is a global initiative against solid waste and marine debris, with this year’s focus on textile pollution.
Chaudhry noted that the prime minister’s commitment to prioritising climate change highlights the need for sustainable policies to protect the environment, economy, and citizens.
“The health of our oceans is directly linked to the wellbeing of our people, economy, and planet. I urge industries, policymakers, and citizens to recognise the dangers of textile and fashion waste and collaborate to build a circular economy that protects both livelihoods and biodiversity,” he said.
Pakistan’s textile and fashion sector, one of the world’s largest and the source of nearly 60% of exports, generates significant waste and pollution. Studies show textile waste contributes heavily to microplastic contamination in rivers and seas, threatening marine life including fish, corals, and coastal ecosystems.
Every year, tonnes of textile waste end up in landfills and waterways, eventually flowing into the Arabian Sea. Microfibers from synthetic fabrics are consumed by marine animals, disrupting food chains and placing added stress on species already endangered by climate change, overfishing, and habitat loss.
The minister said the issue also damages the economy. Pakistan’s blue economy, including fisheries, shipping, tourism, and coastal industries, faces heavy losses from polluted waters and degraded habitats. Pollution-related losses in fisheries alone exceed $200 million annually, while coastal tourism potential remains largely untapped. If unchecked, financial losses will rise further.
Globally, the fashion industry loses about $500 billion each year due to underutilisation and lack of recycling. For Pakistan, adopting circular fashion is both an environmental and economic necessity.
He added that textile waste is tied to climate change. The sector is a major consumer of water and emitter of greenhouse gases. Discarded textiles in landfills release methane, worsening global warming impacts on coastal communities already vulnerable to rising seas and extreme weather.
Chaudhry said circular fashion, with longer-lasting, reusable, repairable, and recyclable products, offers a path to cut emissions, conserve resources, and adapt to climate risks. For Pakistan, a frontline state in the climate crisis, this approach is vital.
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Indian Railways is set to increase train fares from December 26, and this has once again put the spotlight on senior citizens. As Budget 2026 approaches, elderly passengers are hopeful that a long-withheld relief might finally return.
Business
Does Higher Income Guarantee Faster Wealth? Can You Actually Build Money Faster By Moving To UAE? CA Explains Math
New Delhi: For many middle-class families in India, a particular notion crosses their minds every few months. If people who relocate to the UAE earn more money and if location is a key factor in wealth creation. Chartered Accountant and financial advisor Nitin Kaushik recently sparked a detailed discussion on X by breaking down the actual numbers behind this notion. At the core of his post is a compelling idea that wealth is not created by crossing borders but by crossing comfort zones. Kaushik says that no destination creates wealth and only financial behavior does so.
Kaushik explains how residents working in the UAE often highlight two genuine financial advantages. The first is a lower personal income tax which increases take-home pay. In India, a Rs 2 lakh salary taxed locally may leave Rs 1.55 to 1.6 lakh in hand whereas similar earnings abroad may result in nearly complete take-home. This is due to lower personal income tax abroad. The second factor is a larger monthly savings rate. Many people save between Rs 80,000 and Rs 1.5 lakh per month by sharing accommodation and reducing expenditure. “Same markets. Same funds. Different speeds of wealth creation,” Kaushik wrote.
In the following thread, Kaushik explains in detail how geography has little bearing on wealth creation and how savings discipline does all the magic. He claims that while earning Rs 2 to 3 lakh domestically, several professionals save less than Rs 30,000 per month due to lifestyle inflation, large EMIs and premium living costs. Building Rs 1 crore at this pace will take 15 to 18 years even with strong market returns. “The contrast is not country-based and it is cash-flow based,” Kaushik said.
Kaushik claims that increased income does not ensure faster wealth. A Rs 3 lakh earner saving Rs 1 lakh builds wealth more quickly than a Rs 5 lakh earner saving Rs 40,000. What matters is the investable surplus and not the salary figure, he said.
“Is wealth really about where you work – or what you do with what you earn?”
Every few months this thought pops up in thousands of middle-class homes:
“People who go to UAE build money faster_
Is location the secret?”The truth is more layered than that – and it deserves an_ pic.twitter.com/50uByLnd8h
— CA Nitin Kaushik (FCA) | LLB (@Finance_Bareek) December 23, 2025
According to Kaushik, when expenditure is smaller than income then investing happens almost automatically. The same financial outcome can be achieved at home with modest lifestyle control, aggressive monthly SIPs, consistency across market cycles and zero dependency on “windfall thinking”.
Kaushik said that the real wealth calculation does not consider geography. Income minus expenses becomes investable capital and investable capital multiplied by time becomes net worth. “Change any one variable and the future changes,” the CA wrote.
Kaushik said, “Wealth is not built by crossing borders. It is built by crossing comfort zones. Whether earnings come from here, there or anywhere what changes lives is the habit of paying the future first.”
According to Kaushik, moving abroad may increase savings capacity but discipline alone converts earnings into freedom. In Kaushik’s words, “No destination creates wealth. Only financial behavior does.”
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Income Tax Refund 2025: Several taxpayers on the internet have, over the past few day,s alleged that they have received an email and/ or SMS from the Income Tax Department, saying that their ITR refund has been put on hold due to ‘mismatches’ in their ITR filing.
“Processing of the said return was held as it was identified under risk management process on account of certain discrepancies in the claim of refund. An email with details has also been sent to your registered email address,” the message sent to taxpayers typically reads, according to multiple screenshots shared on social media platforms by users.
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December 24, 2025, 11:34 IST
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