WASHINGTON: US President Trump could announce tariffs on Chinese goods this week, a move that could inflame tension between the world’s top economies as the United States also face prospects of trade war with its closest allies, including the EU.
The US has accused China of forcefully transferring technology owned by the US companies to boost its own technological and economic development to justify its decision of tariffs on about 1,300 goods.
Last month, President Trump ordered to finalize this list of targeted goods that would be hit with a 25 percent tariff. One of Trump’s trade advisers said on Tuesday that the President was planning to impose tariffs on ‘subset’ of Chinese products that the administration had included in the original list of targeted products worth $50 billion announced in April, a news report said.
Quoting two unnamed sources, a news report said that it could be as soon as this week. The comments were seen as an indication that the Trump administration will go ahead with the plan to impose tariffs on Chinese goods in spite of improving ties between the US and China in the wake of cooperation Beijing extended to bring the North Korean leader to the negotiating table.
Following his successful summit with Korean Leader Kim Jong Un in Singapore this week, President Trump spoke about his personal friendship with Chinese President Xi Jinping, but said that China has not done enough to closing its border to trade with North Korea in recent months, an issue that has contributed to strain trade ties between the two countries.
The report said that while the original list of products that was identified by the Trump administration for tariff was likely to remain intact, the duties may be imposed on a smaller group of products from the list. According to the report, the administration is now considering a separate list of additional items that would be subject to more public input and on which tariffs could be imposed at a later date and would likely focus on items that China could promote for exports in future years as part of its Made in China 2025 plan.
Chinese industrialists to invest $400 m in Sindh
HYDERABAD: The industrialists belonging to China’s Chongqing Federation of Industry and Commerce will invest $400 million in several trade and industrial projects in Hyderabad and other parts of Sindh.
The federation’s representative Zhang Yang informed a press conference at the office of Hyderabad Chamber of Commerce and Industry (HCCI) here Sunday that a memorandum of understanding (MoU) has already been signed in this regard. Yang informed that the MoU, which would last for 5 years, was signed between the Federation and HCCI in China in May this year.
He said under the MoU the investments would be made in steel, textile, and clothing, real estate, agriculture, tourism, education and training, municipal and solid waste disposal sectors. “We have declared Chongqing and Hyderabad as the friendly cities,” he told, adding that up to 34 industries and investors from Chongqing would make their investments in the joint ventures in Hyderabad and other cities of Sindh.
He told that the industrialists from the 2 cities had already maintained a promising cooperation in the industry. “We now want to further bolster the business ties in the steel, textile, real estate, and other sectors,” Yang said. He said Chongqing was a beautiful city in China and that it was home to the automobile and motorbike industry.
The Chinese businessmen said Hyderabad was a favorite place for investment where the Chinese industrialists intended to introduce advanced technology. He informed that Hyderabad was selected for the investment after HCCI submitted investment proposals to the federation. “This MoU is part of the CPEC as 34 Chinese companies will be making investments in various sectors,” former HCCI president Seth Goharullah said.
The HCCI’s vice president Ziauddin, who signed the MoU with his Chinese counterparts earlier in China, apprised that a formal agreement between the mayors of Chongqing and Hyderabad would be signed in October in Pakistan. He told that the Chinese delegations would visit Hyderabad and sign agreements with the local companies. According to him, a sub-office of the federation was also established in Hyderabad’s SITE area and it would also be inaugurated in October. The office bearers and members of HCCI were present on the occasion.
PR to charge dam fund surcharge from 25th Sept
RAWALPINDI: Pakistan Railways (PR) will charge dam fund surcharge, Re 1, Rs 2 and Rs 10 on the tickets of an economy and business class from September 25.
PR on the directive of Federal Minister for Railways Sheikh Rasheed Ahmed has decided to increase fares for all classes for contribution to Diamer Bhasha and Mohmand dam fund.
According to a PR spokesman, ticket prices will be increased in order to play a vital role in dam fund contribution. He informed that Re 1 will be charged on the purchase of Economy Class ticket worth Rs 100 and Rs 2 for tickets worth more than Rs 100.
An additional amount of Rs 10 will be charged on A/C class ticket. The collected amount will be transferred to Dam Fund on monthly basis, he added. No category would be exempted from the surcharge, be it the privilege ticket order issued to railway staff according to their pay scale, free privilege passes,
military vouchers, E-Ticketing, computerized tickets, paper card or general tickets, blank tickets which are issued in case of non-availability of card tickets besides current reservations.
Mobile broadband: More investment after 5G!
ISLAMABAD: A new technological era has prevailed across the globe and every country is trying best to keep enhancing technological advancements and capture Information Technology market share which has a value of worth $12 trillion.
Advanced nations are now engaged in a technological trade tussle and trying to become a world leader in artificial intelligence by 2030. The advanced countries had invested and are spending billions of Dollars in technology including next-generation 5G which ensures to download a large size of data within minutes or even seconds. It will give a boost to driver-less car technology and will help to fulfill a dream of shifting scattered cities into smart cities.
China has been investing a great number of dollars in Pakistan under China Pakistan Economic Corridor (CPEC).
On the initiative of land-based connectivity, optical fiber cable is linked between two countries.
A Chinese company may lead Pakistan to its first ever 5G technology. However, 5G is more expensive than 4G. Therefore, the future government may have to work hard to introduce it in its full spirit as next evolution comes in form of 5G that will offer attractive data rates and more than that the fastest speed ever.
International Telecommunication Union (ITU) is going to launch 5G standards in 2019 and on the whole, a vast number of trials and experiments already being held in different parts of the world including Pakistan.
Zong and Telenor might be the first companies to introduce 5G. Up to a point, Zong also introduced 4G service in Pakistan before any other company. The company also requested Pakistan Telecommunication Authority (PTA) to take permission for the testing.
The question arises how 5G will be different from its preceding generations and when what of 5G for Pakistan is still unclear. The most publicized aspect of 5G is the introduction of new frequency spectrums, broadly categorized into frequency range 1 (FR-1) and range 2 (FR-2).
Recent 5G trails conducted abroad have already demonstrated the speed of 9.3 Gbps over 24 GHz spectrum, nearly 10 times faster than the theoretical maximum data rate for 4G.
When contacted, official sources said policy directives for test and development of technologies for fifth generation (5G) wireless networks in Pakistan has been issued last year which would be implemented by the Pakistan Telecommunication Authority (PTA).
The next generation mobile services (3G/4G) are continuously gaining momentum in Pakistan since their launch in mid-2014 while the demand for data services is growing along with the subscriber base which has crossed 58.56 million with a teledensity of 28.08 during last five years. The Basic Telephony subscriber reached three million with 1.30 percent teledensity while on another hand the number of cellular subscribers crossed 151 million by end of August this year.
The official said 4G network roll-outs continued across the country. Minister for Information Technology and Telecommunications, Dr. Khalid Maqbool Siddiqui has also hinted introduction of 5th Generation (5G) service from next year to attract foreign investment.
“We need to introduce more innovative services in a mobile broadband arena not only to facilitate the consumers but also attract precious foreign investment and meet modern requirements,” said the Minister.
The Minister had said, “The world is changing very swiftly and to compete with other nations we need to adopt new technologies.” He hoped that keeping in view of the importance IT sector in Pakistan foreign companies would approach themselves to launch the modern 5G service.
As per operator-wise data issued by PTA regarding the number of 3G and 4G subscribers, Mobilink Jazz’s total count for 3G users stood at 15.04 million by August 2018, as compared to 14.54 million by January 2018. Jazz 4G user numbers jumped from 2.23 by January 2018 to 5.07 million by Aug 2018.
Zong 3G subscribers decreased to 9.03 million by August 2018, from 9.08 million in January 2018, while the number of 4G users jumped from 5.07 million by January end to 8.13 million by Aug 2018.
The number of 3G users of Telenor decreased from 10.75 million in January 2018 to 10.21 million by August 2018. The number of 4G users jumped from 1.88 million in January 2018 to 3.59 million by August 2018.
Ufone’s total 3G subscribers reached 7.47 million by end of August 2018 as they were 6.630 million in January 2018.
It is imperative that we should remain proactive in ensuring market readiness for the next wave of mobile communications i.e. 5G which would open a new arena for smart devices and ensure employment and investment opportunities in Pakistan during coming years.