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SECP startup portal aims to encourage tech innovation in Pakistan

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The Securities and Exchange Commission of Pakistan has launched an exclusive startup portal to encourage technology innovation in Pakistan.

It was inaugurated by SECP Information System and Technology Commissioner Shauzeb Ali during the ‘Startup Grind Pakistan’ conference in Islamabad, according to a press statement issued by the commission on Tuesday. 

The portal features a list of startups, simplified user experience for registration, access to mentors and incubation centres, online guides and video tutorials for startup companies.

“The SECP startup portal will be a gateway to information and collaboration hub, for the facilitation and uplifting of the existing and future entrepreneurs to connect and excel,” Ali was quoted as saying in the press statement. It said he hoped that the portal will evolve with time as an important part of the startup ecosystem in Pakistan.

A large gathering of entrepreneurs, innovators and technologists attended the conference to share their stories and inspire young entrepreneurs.

“SECP has instituted various reforms to develop a comprehensive and coherent industry policy to shape regulatory thinking and promote a conducive Fintech environment in Pakistan. This will help attract local and international innovators,” the statement read.

Ali spoke about the role of SECP and other public sector organisations in encouraging investment and fostering economic growth and prosperity in Pakistan.

“The SECP is also reviewing the Companies Act with an objective to facilitate startups and provide a conducive environment to young innovative entrepreneurs, amendments in Private Equity and Venture Capital Regulations, draft Equity Crowdfunding Regulations, setting up facilitation desks at CROs and launching of first ever regulatory Sandbox in Pakistan,” he was quoted as saying.

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Pakistan is the world’s 26th biggest consumer market and its startup sector reflects this appetite. E-commerce, food delivery and ride-hailing services are common in the sector and several have been attracting international attention.

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Analysis

US Trade Representative Katherine Tai Criticizes China for Filing WTO Complaint Regarding Electric Vehicle (EV) Subsidies

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US Trade Representative Katherine Tai has denounced China for filing a complaint with the World Trade Organization (WTO) over electric vehicle (EV) subsidies. Tai has accused China of using “unfair, non-market policies and practices to undermine fair competition and pursue the dominance of the PRC’s manufacturers.” Beijing has objected to a US law that it says provides “discriminatory” subsidies for EVs.

Katherine Tai speaks out against China's WTO complaint on EV subsidies

Tai’s remarks come as tensions between the US and China continue to escalate, with both countries accusing each other of unfair trade practices. The US has previously accused China of stealing intellectual property and engaging in forced technology transfers, while China has accused the US of unfairly targeting its companies with sanctions and export controls.

The dispute over EV subsidies is just the latest in a series of trade disputes between the two countries, and it remains to be seen how it will be resolved. However, Tai’s strong words suggest that the US is prepared to take a tough stance against China’s trade practices, and that the dispute is unlikely to be resolved quickly or easily.

US Trade Representative Katherine Tai’s Statement

Katherine Tai condemns China's WTO complaint on EV subsidies

Denouncement of China’s WTO Complaint

US Trade Representative Katherine Tai has denounced China for filing a complaint with the World Trade Organization (WTO) over what it calls “discriminatory” subsidies for electric vehicles in the United States. Tai stated that “China continues to use unfair, non-market policies and practices to undermine fair competition and pursue the dominance of the PRC’s manufacturers”.

Tai’s statement comes after China filed a complaint with the WTO on March 22, 2024, alleging that a US law provides “discriminatory” subsidies for electric vehicles. The law in question, the Electric Vehicle Tax Credit, provides a tax credit of up to $7,500 for the purchase of a new electric vehicle. China argues that this tax credit is only available to US-made electric vehicles, and therefore discriminates against foreign-made electric vehicles, including those made in China.

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Criticism of China’s Non-Market Policies

Tai’s statement also criticized China’s non-market policies, which she says are designed to give Chinese companies an unfair advantage in the global marketplace. These policies include subsidies for domestic companies, restrictions on foreign investment, and intellectual property theft.

Tai’s denouncement of China’s WTO complaint is the latest in a series of moves by the Biden administration to confront China on trade issues. The administration has also taken steps to address China’s human rights abuses, including sanctions on Chinese officials and companies involved in the repression of Uyghur Muslims in Xinjiang province.

Overall, Tai’s statement reflects the US government’s commitment to fair competition and a level playing field for all companies, regardless of their country of origin.

China’s Objections to US EV Subsidies

US Trade Rep denounces China's WTO complaint over EV subsidies

Allegations of Discriminatory US Law

China has accused the US of providing “discriminatory” subsidies for electric vehicles (EVs) through a tax credit system that only applies to domestically produced vehicles. The US law in question, known as the Electric Vehicle Tax Credit, provides a tax credit of up to $7,500 for the purchase of a new EV. However, the credit is only available for EVs produced by manufacturers that have not yet sold 200,000 qualifying vehicles in the US. This has led to accusations that the law unfairly benefits US automakers, while discriminating against foreign manufacturers such as those from China.

China’s WTO Complaint Filing

China has filed a complaint with the World Trade Organization (WTO) over the US law, arguing that it violates WTO rules by providing “discriminatory subsidies” to US automakers. In response, US Trade Representative Katherine Tai has denounced China’s complaint, stating that “China continues to use unfair, non-market policies and practices to undermine fair competition and pursue the dominance of the PRC’s manufacturers.” Tai has also accused China of “continuing to use unfair trade practices to gain an unfair advantage in the global marketplace.”

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The US has countered China’s complaint by arguing that the Electric Vehicle Tax Credit is not discriminatory, as it applies equally to all automakers that meet the eligibility criteria. The US has also argued that the tax credit is intended to promote the adoption of EVs in the US, and is therefore consistent with WTO rules that allow for certain types of subsidies to promote environmental protection.

Overall, the dispute between the US and China over EV subsidies highlights the ongoing tensions between the two countries over trade policy, and the challenges of balancing domestic priorities with international trade obligations.

Implications for US-China Trade Relations

US Trade Rep denounces China over WTO complaint on EV subsidies

The recent filing of a WTO complaint by China over US subsidies for electric vehicles has the potential to further strain the already tense trade relations between the two nations. The US Trade Representative, Katherine Tai, has denounced China’s actions, stating that they are using “unfair, non-market policies and practices to undermine fair competition and pursue the dominance of the PRC’s manufacturers”.

This latest development is not the first time that the US and China have been at odds over trade policies. The two nations have been engaged in a trade war since 2018, with each imposing tariffs on the other’s goods. The dispute has had far-reaching effects, with both nations suffering economic losses as a result.

The filing of the WTO complaint by China is likely to escalate tensions even further. The complaint alleges that a US law providing subsidies for electric vehicles is discriminatory, and violates WTO rules. The US has denied these allegations, and has stated that the subsidies are intended to promote the use of electric vehicles, and are not discriminatory in any way.

The outcome of this dispute remains to be seen, but it is clear that it will have significant implications for US-China trade relations. If the WTO rules in China’s favor, it could lead to further trade restrictions and tariffs being imposed by the US. On the other hand, if the US is successful in defending its subsidies, it could embolden the nation to continue its current trade policies, further straining relations with China.

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Conflict

Defending Haiti: Inside the Brave World of Neighborhood Vigilantes Standing ‘Tooth and Nail’ Against Gang Violence

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Introduction

We shall attempt to investigate the tale of a neighbourhood in the capital of Haiti that is disproportionately affected by violence and unrest. The people have chosen to take matters into their own hands and become vigilantes, fighting back against gang attacks despite the odds being stacked against them. Their bravery, tenacity, and fortitude in the face of hardship are highlighted throughout the story. In the face of dread and uncertainty, these common people have transformed into heroes by putting their lives in danger to protect their neighbourhoods and homes. It is an engrossing story about the struggle for justice and freedom by the human soul.

Understanding the Context

Haiti, a nation plagued by political instability and economic challenges, has long grappled with high levels of crime and violence. In the capital city, Port-au-Prince, residents navigate a landscape marred by frequent acts of brutality, where murders often go unsolved, leaving communities in a state of perpetual unease.

The Rise of Vigilantism

Amidst this turmoil, a remarkable phenomenon has emerged – ordinary citizens turning into vigilantes to protect their neighbourhoods. Faced with the constant threat of gang violence, these brave individuals have taken it upon themselves to stand up against the forces of chaos and lawlessness.

Profiles in Courage

Meet the men and women who have chosen to defy fear and fight back. Through interviews and firsthand accounts, we explore the stories of those who are willing to “give their heart and soul for the freedom of the neighborhood, and the freedom of this country.” Their unwavering determination and sense of duty paint a portrait of extraordinary heroism in the face of danger.

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Challenges and Sacrifices

Delve into the challenges faced by these vigilantes as they navigate a treacherous path between justice and vigilantism. From personal risks to societal implications, we examine the complexities inherent in taking up arms against criminal elements in a society where trust in traditional authorities is often eroded.

Impact on Community Dynamics

Explore how the presence of vigilantes has reshaped community dynamics in Haiti. From instilling a sense of security to fostering solidarity among residents, we analyze the ripple effects of grassroots efforts to combat crime and uphold order in an environment fraught with uncertainty.

The Call for Change

As vigilantes continue to defend their neighbourhoods with unwavering resolve, questions arise about the broader implications for Haiti’s future. What does this grassroots movement signify for governance, security, and social cohesion in a nation grappling with multifaceted challenges?

Conclusion: A Beacon of Hope

In conclusion, the story of vigilantes defending Haiti’s neighbourhoods serves as a poignant reminder of human resilience in the face of adversity. Their courage shines as a beacon of hope amidst the darkness, inspiring us to reflect on the power of community action and individual agency in shaping a brighter tomorrow.

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IT & Telecom

Analyzing the US Justice Department’s Lawsuit Against Apple: Unpacking the Alleged Smartphone Monopoly

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turned on imac beside macbook on table

In a significant move, the US Justice Department, along with fifteen states and the District of Columbia, has filed a lawsuit against tech giant Apple, accusing the company of maintaining an illegal monopoly in the smartphone market. This legal action marks a pivotal moment in the ongoing antitrust scrutiny faced by major tech companies and signals a new chapter in regulatory efforts under the Biden administration.

Understanding the Allegations

The core of the lawsuit revolves around the claim that Apple has established an unlawful monopoly in the smartphone industry, particularly concerning its iPhone products. The Justice Department and participating states argue that Apple’s control over key aspects of its ecosystem, such as the App Store and app distribution, stifles competition and harms consumers by limiting choice and potentially driving up prices.

Impact on Consumers and Competition

The implications of this legal battle extend beyond Apple and have broader implications for consumers and the competitive landscape of the tech industry. If the allegations hold, it could lead to significant changes in how smartphones are marketed, sold, and used, potentially opening up opportunities for increased competition and innovation.

Legal Precedents and Antitrust Regulations

Antitrust laws are designed to promote fair competition and prevent monopolistic practices that harm consumers or stifle innovation. By examining past cases and legal precedents, we can gain insights into how this lawsuit against Apple fits within the broader framework of antitrust regulations and enforcement.

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Apple’s Response and Defense Strategies

As expected, Apple has vehemently denied the allegations put forth by the Justice Department and states involved in the lawsuit. The company is likely to deploy a range of defence strategies to counter these claims, including highlighting its contributions to innovation, consumer choice, and economic growth.

The Role of Regulatory Bodies in Tech Industry Oversight

The lawsuit against Apple underscores the growing role of regulatory bodies in overseeing tech companies’ practices and ensuring compliance with antitrust laws. As technology continues to evolve rapidly, regulators face the challenge of balancing innovation with fair competition to protect consumers’ interests.

Future Implications for Tech Industry Dynamics

The outcome of this legal battle will have far-reaching implications for not only Apple but also other tech giants operating in similar markets. Depending on how this case unfolds, we may witness shifts in industry dynamics, regulatory approaches, and consumer preferences that could reshape the tech landscape for years to come.

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