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Enhancement of direct taxes

  According to newspaper reports, the government is ready to put all its weight on the tax collection authorities on the federal and provincial levels to enhance its revenue collections. Finance Minister Ishaq Dar has held a meeting with senior officials of the Federal Board of Revenue to prepare a comprehensive plan to increase the rates of direct taxes from ... Read More »

Pakistan and global economy

There are no two opinions in the notion that it is the age of globalization. According to a quote attributed to former United Nations’ Secretary General Kofi Annan, arguing against globalization is like arguing against the laws of gravity. The world is coming from close to closer and from closer to closest. Globalization is the process and it always goes ... Read More »

Low tax-to-GDP ratio

  The taxation has always remained a problem area for the government due to some inherent flaws in tax laws and various other factors, including absence of tax culture and structural frailty of the implementation machinery. The tax-to-GDP ratio in Pakistan is purportedly the lowest not only in South Asia but also in the world. Keeping in view this factor, ... Read More »

Problems of trade with Iran

  It is been two years since sanctions are phasing out on Iran which were the biggest hurdle in promotion of trade between Islamabad and Tehran. However, the government is unprepared as usual to avail business and investment opportunities offered by Iran where the European and other developed nations are thronged to take their shares of participation. The unfortunate part ... Read More »

Chinese share in Pak economy

According to news reports, the Chinese investors will be offered land and facility to set up high tech industries along the China-Pakistan Economic Corridor, which would not have any negative impact whatsoever on the local industrial base. However, the actual news is that China is heading towards heavy industry from small industry and is shifting its small industrial units to ... Read More »

Problem of current account deficit

According to a report of the State Bank of Pakistan, the current account deficit has increased by 91 percent to $2.601 billion in the first five months of the current fiscal year.The deficit reached 120 percent to $839 million in November as compared to the previous year in the backdrop of increasing imports and decreasing exports. The country has failed ... Read More »

Need to enhance tax net

  A Japanese envoy has recently pinpointed various issues concerning the economy of Pakistan and other pressing issues. According to him, the economy is on the path of recovery and is expected to grow by five percent during the current fiscal year and taking this advantage the government should try to create a balance between the economic growth and social ... Read More »

Transparency in financial matters

Transparency in financial and administrative affairs has always remained a pressing issue in the country since independence. Unfortunately, the accounts of the country could not remain at satisfactory level despite introduction of reforms and establishment of various new departments to streamline the financial affairs, ensure full audit of the public accounts and keep transparency in the use of money at ... Read More »

Fragile state of economy

In an already fragile situation of the economy, the growing loans are not only squeezing fiscal space to attract investment in human development and infrastructure sectors, but also bringing the biggest challenge of debt servicing for the nation in the near future. Instead of developing resources to generate money through trade and industry, the government has found an easy way ... Read More »

New ADP loan

  As a new World Bank study has called subsidies on electricity charges ‘disproportionate,’ the government is negotiating another loan programme with the Asian Development Bank to support various sectors in the country. The study believes the correlation between measured power consumption and household welfare is weak and this goes in the favour of the rich consumers. According to the ... Read More »

For country’s sake

Political polarization and administrative failures are probably the main actors which are hindering the economic development of the country. Energy crisis, security situation and low investment are the secondary causes or are the byproducts of the principal causes haunting the nation. In its supplemental report of ‘the Asian Development Outlook’, the Asian Development Bank has lowered the rate of economic ... Read More »

Govt must set targets

The Pakistani exports have been experiencing free fall for the last three years and the government is still undecided to take a decision to stop this trend and control the growing trade deficit. Pakistan is a land of 200 million people who need houses, food, clothes and many many other necessities of life. The demands of the people give impetus ... Read More »

Dilemma of Pak-Iran gas pipeline

The proposed $1.35-billion Pakistan Iran gas pipeline project has been passing through various ups and down for the last many years due to internal expediencies and foreign pressures on both the neighbouring countries. Originally, India was also part of the project but backed down from it owing to its inherent opposition to Pakistan. According to news reports, Pakistan wants to ... Read More »

Brain drain harmful for economy

  Pakistan is one of the major manpower exporters in the world and earns around $20 billion a year remittances sent by Pakistani expatriates. According to estimates, around eight million Pakistanis work abroad and support not only their families back home, but also earn precious foreign exchange for the country. The manpower includes not only low-paid labourers but highly qualified ... Read More »

Economy in the dock

The government ministers never feel a tinge of conscience when they lie to the nation about so-called economic development of the country. Since the present government came to power three years ago, exports started falling, industry began declining and debt burden is ever increasing. People are constantly being told that good days are ahead when electricity supply will be improved, ... Read More »

Closure of textile city

According to news reports, the Finance Division has obtained the approval of the prime minister to wind up the company which was responsible for the development of the Pakistan Textile City in Karachi. The prime minister has constituted a committee to prepare recommendations for the appropriate steps leading to the closure of the project. However, the National Assembly Committee on ... Read More »

PM’s Diamer-Bhasha dam initiatives

  Prime Minister Nawaz Sharif has given go ahead signal to construct Diamer-Bhasha dam on Indus River this year. The project will cost $14 billion. According to the official circles, the proposed plan will be executed on self-help basis after the World Bank could not resist pressure from India and refused to provide fund for it. The Asian Development Bank ... Read More »

Dilemma of foreign investment

India is proud of attracting $300 billion investment this year and Pakistan could not attract even half of billion foreign investment during the period. The government has so far failed to declare economic emergency in the country or form a group of experts to discuss ways and means to stimulate business, trade and industrial activities. It seems the men in ... Read More »

Role of corruption in economy

Corruption is the global phenomenon which more or less prevails in every nation and economy. It is a real threat to the economy of a nation at the official level, but a catalyst for trade, business and industry in unofficial domains, specifically in developing countries. According to a report of the US journal Foreign Policy, corruption and graft have a ... Read More »

Needs to save shipbreaking industry

Pakistan’s shipbreaking industry is heading towards closure as the business activities at Gadani have been stopped since dozens of workers were killed in a fire incident on a tanker a month ago. The country has the third largest shipbreaking yard in the world consisting of 132 shipbreaking plots sprawl over an area of 10 kilometers along the beach front in ... Read More »

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