Latest news with #nationalunity
Arab News
10-06-2025
- Business
- Arab News
Pakistan announces $62 billion budget 2025-26, raises defense spending by 20 percent to $9 billion
KARACHI: Pakistan on Tuesday announced its federal budget for fiscal year 2025-26 with a total outlay of Rs7.57 trillion ($62 billion), an overall decrease in spending by 7 percent, but hiked the defense expenditure by 20 percent following a recent military conflict with nuclear-armed neighbor India. Finance minister Muhammad Aurangzeb presented a budget that allocated Rs2.55 trillion ($9 billion) for defense spending in FY26, compared to Rs2.12 trillion in the fiscal year ending this month. 'This budget is being presented at a very important and historic moment when the nation in recent days showed extraordinary unity, determination and strength,' Aurangzeb said, referring to the recent military confrontation with India, in which the militaries of the two nations exchanged drone, missile and artillery attacks, with a combined 70 people killed on both sides. 'With this same national unity and determination, we should turn our focus to our economic strength, growth and welfare,' the finance minister said. 'The spirit with which we protected and strengthened our national sovereignty, we need to ensure our financial security and the welfare of the people with the same unity and strength.' The military clash between India and Pakistan was sparked by an April attack by assailants who targeted Hindu tourists in Indian Kashmir in April, killing 26 men. New Delhi blamed the attack on militants backed by Pakistan, a charge denied by Islamabad. The two sides used fighter jets, missiles, drones and artillery against each other before agreeing to a ceasefire on May 10 after four days of fighting, their worst in nearly three decades. Here are some of the key highlights from the country's 2025-26 budget: GDP/DEFICIT * GDP growth projected to be 4.2 percent * Nominal GDP seen at 129.57 trillion rupees * Fiscal deficit expected to be 3.9 percent of GDP * Targets primary surplus of 2.4 percent of GDP INFLATION * Targets inflation at 7.5 percent EXPENDITURE * Total spending seen at 17.57 trillion rupees * Defense expenditure of 2.55 trillion rupees targeted * Interest payments projected at 8.21 trillion rupees REVENUE * Total gross revenue of 19.28 trillion rupees targeted * Targets total tax revenue of 14.1 trillion rupees * Aiming for net external receipts of 106 billion rupees ($1 = 282.0000 Pakistani rupees) - With inputs from Reuters
Daily Maverick
09-06-2025
- Politics
- Daily Maverick
SA must seize opportunity of tectonic global shifts to remodel its economy
The GNU must use the global governance crisis and its chairing of the G20 as a catalyst for the country to reorient its incorporation into global production structures, remodel its economy, ignite social renewal and secure national self-reliance. Despite its success in restoring diplomatic and economic interaction between South Africa and the US, President Cyril Ramaphosa's recent encounter with his American counterpart, President Donald Trump, also inadvertently cast an unflattering spotlight on South Africa's problem of pervasive crime and governance failures. The globally televised Oval Office drama, broadcast in prime time, highlighted domestic troubles that successive post-apartheid governments have failed to tackle effectively. It was a huge wake-up call for the year-old government of national unity (GNU) and an inflection point for the country's democracy. South Africa is at a crossroads. It is caught in the middle of major geopolitical shifts and a global governance crisis, which has been amplified by the ascendancy of the Trump administration in the US, colliding with its internal governance failures. These governance failures are typified by a slew of social and economic problems that have hampered the country's progress. These include a stagnant economy, high unemployment, poor public education and health systems, dysfunctional municipalities and state-owned enterprises, decaying infrastructure, endemic corruption, appalling public finances, widespread illegal immigration, an unwieldy and underperforming public service and rampant crime. Decisions required This moment of global turmoil and domestic crisis calls on the country's political leaders to make decisions about its future. It requires the GNU to make tough policy choices that will extricate the country from its social and economic stasis and launch it on a path towards national renewal and success. South African leaders will do well to draw on historical lessons in terms of how the country can confront global adversity and propel a new growth trajectory. Take, for example, how the country responded to the destruction caused by the onset of World War 2. The war galvanised many countries, including South Africa, to accelerate manufacturing, starting with munitions, arms and other critical supplies. In the aftermath of the war, South Africa built its industrial capabilities and raised its agricultural productivity. The foremost public policy consideration for the government at the time was post-war reconstruction. The Van Eck Commission, as well as the Social and Economic Planning Council, were set up with briefs to produce policy insights that would shape post-war development. Their recommendations led to, among other matters, an increase in farm support, the creation of marketing boards for agricultural products and the expansion of manufacturing activities. The war acted as an anchor to ignite economic recovery, and import tariffs played a key role in nurturing the development of an infant industry. Medical supplies for military use were also produced locally. Structural change was manifest on several fronts in the post-war years, especially between 1945 and 1970. During this period, there was a strong emphasis on capitalising on the conditions created by the war to stimulate local production and build the country's manufacturing capabilities. This sparked a rapid increase in national economic output and the growth rate, which averaged 5%. Second, manufacturing eclipsed primary production as the main driver of growth. Third, there was a marked shift in demographic concentration from rural to urban areas. The growth of metropolitan areas stimulated demand for infrastructure, housing and other amenities. Various state-owned enterprises created in the 1920s through to the 1950s contributed to the development of a manufacturing path. Eskom was formed in 1923 to produce cheap electricity for the railways and drive industrialisation. Iscor was set up as a monopoly to maximise the processing of domestic ore and achieve vertical integration in steel production. The Industrial Development Corporation (IDC) was established in 1940 to offer cheap finance to spur industrialisation. The IDC was instrumental in the founding of Sasol in 1950, which was created to produce synthetic fuels, mainly from coal. Moreover, South Africa, under the Union Government, and later under the apartheid government, deployed industrial policy systematically. This combined tariff protection, import-substitution industrialisation and the creation of industrial champions anchored in cheap energy and steel to stimulate downstream production. Industrial financing was funnelled to benefit not only the manufacturing sector, but also agriculture. These policy actions were central to powering South Africa's industrialisation and to catapulting the country towards national self-reliance. This industrial transformation would not have been possible without visionary leadership, firm political will and effective governance. The state played a pivotal role in propelling South Africa's industrial development and securing the economic advancement of poor Afrikaners. Hendrik van der Bijl, a brilliant engineer and technocrat who served as Director-General of War Supplies in the government of General Jan Smuts, was the driving force behind the creation of Eskom, Iscor and the IDC. Other influential public servants and scientists of this era included Frans du Toit and Etienne Rousseau, respectively founding chairman and managing director of Sasol, as well as Hendrik van Eck, head of the IDC. Opportunities in 2025 The rapidly changing geopolitical landscape, coupled with a crisis of multilateralism, provides South Africa with the opportunity to change course. In the same way as their predecessors used a crisis moment to remodel the post-war economy, South African leaders must take advantage of the tectonic global shifts to implement long-delayed structural reforms and fundamentally alter the structure and growth path of the South African economy. This means, among others matters, growing the economy and removing constraints to doing business, supporting the development of new sectors including innovation-driven industries, accelerating the inclusion of small and medium enterprises in the mainstream of the economy, reorienting trade and foreign policies, reforming state-owned enterprises, revitalising socioeconomic infrastructure, curbing illegal immigration, clamping down on crime, overhauling the public service and rooting out corruption. Thanks to poor governance, South Africa missed out on opportunities to turn around the country's chronically underperforming economy and ensure that it fulfils its considerable potential, overhaul the flawed foundations of the country's social and economic structure and seriously tackle the underbelly of inequality, poverty and social exclusion. This was the case, for example, at the height of the global commodity boom in the early 2000s, in the aftermath of the 2008/9 global financial crisis, and in the wake of the Covid-19 global pandemic. The crisis of global governance, which coincides with significant geopolitical changes and South Africa's chairing of the G20, provides another opportunity. The GNU must use the intersection of these developments as a catalyst for the country to reorient its incorporation into global production structures, remodel its economy, ignite social renewal and secure national self-reliance. The South African government today, unlike the erstwhile Union Government, is not reeling from the ravages of a global military war. But it faces conditions akin to war. It, therefore, must respond with the same degree of urgency and purposeful state action to what has become a dire national emergency. However, it cannot do that in the absence of inspired and effective leadership, as well as strong state institutions. Without a meritocratic, competent, professional and ethical public service, South African policymakers will fail to implement far-reaching structural reform of the country's political economy. DM
CBC
02-06-2025
- Business
- CBC
What to expect from the first ministers' conference in Saskatoon
Social Sharing When premiers from across the country gather with Prime Minister Mark Carney on Monday in Saskatoon, it will be a historic day for the province. It will be just the second time a first ministers' conference has been held in Saskatchewan and the first time in Saskatoon. After a throne speech that was heavy on symbolism and touched on economics and sovereignty, one expert says there is no doubt Carney will want the agenda to be focused on the threat of tariffs. "When you're in a conflict with the United States, it helps to have kind of broad national unity, to have the backing of a wide range of different regions," said Daniel Westlake, an assistant professor of political studies at the University of Saskatchewan. Westlake believes Carney and Saskatchewan Premier Scott Moe will view this event as politically beneficial — Carney can use the conference as an opportunity to extend an olive branch to a Western Canada that felt aggrieved with his predecessor. Moe can tout the federal government as being attentive to the province's needs. WATCH | What the Sask. government wants from Prime Minister Mark Carney: What the Sask. government wants from Prime Minister Mark Carney 18 days ago Duration 1:45 While the choice of Saskatchewan as the location for the meeting stands out — these conferences are normally held in Ottawa — Westlake doesn't believe the core conversations will change because of that. "At the end of the day, the prime minister and each of the premiers are each going to have their agenda, and they're going to talk what they want to talk about," he said. Monday's meetings will give Carney a chance to have an in-person meeting with every premier — something he may not have had the opportunity to do since first being sworn in as prime minister in March. Westlake believes the benefit to getting everyone in the same room is that it can get everyone on the same page. "I think especially with the times that we're going into, there's a lot of value in the prime minister and the premiers building a good rapport and building good relationships," he said. There will be plenty for the premiers and the prime minister to talk about, including developing a common strategy to deal with American tariffs, said Westlake. However, he's doubtful there will be a serious policy announcement emerging from Monday's meeting. "They have important stuff to talk about. I'm just not sure it's the stuff that yields large scale agreements," he said. Resetting the Sask.-Ottawa relationship Moe spent this spring's eight-week legislative sitting dealing with the threat of tariffs and a late push on the topic of western separatism. While the province did not build tariff contingencies into its budget, Moe has made it clear he believes the path forward is to create new economic opportunities within Canada or internationally. Prime Minister Carney welcomes U.S. court decision striking down some Trump tariffs 4 days ago Duration 1:02 "I don't know that I have ever seen such a economic opportunity available and lying at the feet before Canadians than I do today," Moe said on Thursday. Last month, the Saskatchewan premier called for a "reset" on the relationship between Ottawa and Saskatchewan, by releasing a list of 10 changes he believes Ottawa "must make." Moe's demands included: The immediate launch of negotiations with China in order to remove tariffs on agricultural food products, a reference to the 100 per cent tariff China has placed on Canadian canola oil and peas. The end to a number of federal policies meant to lower carbon emissions, such as the industrial carbon tax and clean electricity regulations. Changes to the Criminal Code to address bail reform and the introduction of harsher penalties to combat "new street drugs." Expansion of pipeline capacity across Canada and the opening of rail and port capacity. Reduction of federal "red tape" in order to streamline federal approval of infrastructure projects and reduce "infringement" into provincial jurisdiction Moe confirmed last month that he would raise those issues at the first ministers' meeting in Saskatoon. But with a federal government that appears to be tightly focused on tariffs and the economy, Westlake doesn't believe there will be any serious desire to move on the concerns raised by Saskatchewan. However, he does think there will be a desire for Ottawa to not alienate Saskatchewan. "They probably want to show that they've listened. Scott Moe will want to show that he's voiced these views to the prime minister, and so there's probably grounds for a conversation there," said Westlake.
Malay Mail
29-05-2025
- General
- Malay Mail
Embrace ‘Segulai Sejalai' spirit to preserve social harmony, unity minister tells Malaysians before Kaamatan and Gawai
KUALA LUMPUR, May 29 — The young generation must be nurtured to understand, respect and embrace diversity as a foundation for national harmony and strength, said Minister of National Unity Datuk Aaron Ago Dagang. He said in tomorrow's increasingly modern and challenging world, the young generation plays an important role in inheriting, preserving and upholding the customs and cultural practices of our ancestors. 'The Madani Malaysia government, through the Ministry of National Unity, remains committed to strengthening the value of unity as the core pillar of the country's development. 'In line with this spirit, various initiatives such as cross-cultural programmes, heritage education, and inter-community dialogues continue to be enhanced to ensure unity values remain firmly rooted among Malaysia's multiracial society,' he said in a statement today. The statement was issued in conjunction with the Kaamatan Festival and Gawai Day, which are celebrated on May 30 and 31. He also wished Malaysians a Happy Kaamatan Festival and Gawai Day, especially the Kadazan, Dusun, Murut, Rungus, Iban, Bidayuh and Selako communities, as well as the various ethnicities in Sabah and Sarawak who are celebrating the festival. He said that the Kaamatan Festival and Gawai Day are not only a heritage celebration rich in customs and cultural values, but also reflect the spirit of gratitude, consensus and unity among Malaysia's diverse communities. According to him, the diversity of cultures, languages and heritage possessed by Malaysians is a priceless treasure and a source of strength that makes Malaysia unique in the eyes of the world and must continue to be preserved, respected and celebrated by all levels of society. Aaron said that the spirit of 'Segulai Sejalai', which means moving forward together in harmony, should be embraced as a core value in the lives of all citizens, particularly the young generation who will shape the nation's future. He also called on all Malaysians to celebrate the Kaamatan Festival and Gawai Day in the spirit of Malaysia Madani, fostering respect for diversity, preserving cultural heritage and strengthening bonds of friendship as the foundation for a united and prosperous nation. — Bernama
CTV News
28-05-2025
- Business
- CTV News
National chief says First Nations growing frustrated with ‘fast-track' approach
Assembly of First Nations (AFN) National Chief Cindy Woodhouse Nepinak speaks during a new conference on Parliament Hill in Ottawa on Wednesday, May 28, 2025. THE CANADIAN PRESS/Sean Kilpatrick OTTAWA — The national chief of the Assembly of First Nations says she doesn't blame First Nations leaders who are voicing frustration with governments promising to fast-track development in their territories in the name of national unity. Some chiefs are even citing the Indigenous rights protest movement Idle No More that took hold under former prime minister Stephen Harper's government as it looked to ramp up resource development. National Chief Cindy Woodhouse Nepinak says that when First Nations are not at the table making decisions from the start, 'it causes the Canadian government more problems later.' In the throne speech read yesterday by King Charles, the federal government vowed to eliminate all federal barriers to internal trade and labour mobility by Canada Day. It also promised to reconfigure approval processes for infrastructure projects to fast-track projects of 'national significance.' Woodhouse Nepinak says First Nations across the country are united on the need to ensure their treaty and inherent rights are respected, and she expects to speak with Prime Minister Mark Carney in the days ahead. This report by The Canadian Press was first published May 28, 2025. Alessia Passafiume, The Canadian Press
