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Op-Ed

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Manufacturing sector woes

According to newspaper reports, the manufacturing sector of the country is facing multifarious problems, including shortage of electricity, overlapping tax laws, labour issues and financial troubles. The share of industry in the gross domestic product of the country is declining day by day and some of the industrialists have already shifted their businesses from manufacturing to trade. Others are finding ... Read More »

Another World Bank loan

Pakistan is ready to receive another loan of $1.02 billion from the World Bank to carryout economic reforms in the country and deal with natural disasters in Sindh. According to the latest reports, at least 40 percent or 60 million population of the country lives below the poverty line and most of which is concentrated in the tribal areas and ... Read More »

Dastgir’s narratives

According to newspaper reports, Commerce Minister Engineer Khurram Dastgir has held the ‘irresponsible’ import tariffs and policies of the tax collecting authorities responsible for economic woes of the country. He said that the ever increasing tariffs and tax regime are neutralizing the positive impacts of the economy. The pathetic part of the situation is that the country cannot afford to ... Read More »

Investment opportunities in Gwadar

According to newspaper reports, the Asian Development Bank is awaiting a formal request from the federal government to invest in the development projects in Gwadar as work on the construction of a free industrial zone has already started in the city. The ADB and various other financial institutions are keen to invest in the China-Pakistan Economic Corridor (CPEC) and the ... Read More »

Need to attract foreign direct investment

Pakistan is probably the only country in the world which is resisting to become a developed economy despite the fact that all the indicators in its favour. Pakistan is the 6th largest populated country in the world, 26th largest economy with regard to purchasing power parity, have vast agriculture land, a strong cottage industry, huge mineral and coal reservoirs, and ... Read More »

Shortcut to improve power supply

  The country has been facing severe shortage of electricity for a long time and the media is ripe with news reports that the present government is taking urgent steps to build hydel and solar projects to improve the energy situation. People are becoming used to the government claims that the electricity shortage will end within specific time, but the ... Read More »

Roadmap for development

According to Finance Minister Ishaq Dar, the government is ready to prepare a roadmap to cut fiscal deficit below four percent of the gross domestic product, maintain inflation within single digit, achieve 7 percent growth and raise the foreign reserves up to $30 billion during the next three years. The country has already been reclassified as emerging market after the ... Read More »

Case of tax relief for foreign firms

According to Overseas Investors Chamber of Commerce and Industry, the government has failed to take bold steps to attract foreign direct investment in the manufacturing sector of the country. The tax proposals in the federal budget are contrary to the policy predictability, consistency and transparency, which will discourage multi-national companies to continue investment in the country.The tax proposals include omission ... Read More »

Pakistan as emerging market

US analytics firm MSCI is going to include Pakistan into Emerging Markets index, upgrading it from the frontier market status which was granted to it about a year ago. The decision is expected to push inflows of global portfolio investment of around$500 million in the country by the middle of 2017. According to experts, the MSCI indices are used by ... Read More »

$6 billion ADB loan

The Asian Development Bank has recently approved a $6 billion loan programme for Pakistan to complete various infrastructure projects in the country. The programme, which is spanning over five years’ time period, covers construction of Motorway, improvement of railway tracks and construction of a 660-megawatt coal power project in Jamshoro. Pakistan is facing an annual shortfall of around 4,000 megawatts ... Read More »

Hindrances in way of economy

According to the World Bank’s ease of doing business index for 2016, Pakistan ranked 138 out of 189 countries in the world, shedding two points in its ranks just in one year. Pakistan was ranked 136 in 2015. The question is who is responsible for the lower ranking and what the hindrances in doing business in Pakistan are. The political ... Read More »

Another tranche from IMF

According to newspaper reports, the International Monetary Fund is going to hold its executive board meeting on June 27 to discuss and approve the disbursement of $510 million tranche to Pakistan. With injection of the fresh money, the country’s foreign exchange reserves will cross $22 billion mark by the end of current fiscal year. The government may thump its chest ... Read More »

Chronic energy crisis

The country has been facing chronic energy crisis for the last over three decades and the successive governments in Islamabad have failed to take concrete steps to bolster energy supplies. Pakistan has lost precious time — one and half decade of General Pervez Musharraf and Asif Ali Zardari’s tenures – when it could have constructed new dams and find alternative ... Read More »

Question of real economic growth

  According to newspaper reports, a group of independent economists have challenged Finance Minister Ishaq Dar’s claim that the country achieved 4.7 percent growth in its gross domestic product during the fiscal year 2015-16. The group believes the country’s economy grew at the rate of 3.1 percent instead of 4.7 percent during the year. Another research institute has claimed that ... Read More »

Lack of economic vision

  The economy of Pakistan is not performing according to its potentials due to lack of vision and programme on the part of the individuals who matter. The recently released Economic Survey reveals one basic point — that is the government is not ready to accept the ground realities and is still using old methods to boost the economy most ... Read More »

Tax on financial institutions

  There are serious reservations in some circles about the current rules and regulations dominating the banking system in the country. The multifaceted reservations include ideological and ethical aspects of the western banking system where interest and markup are the basic components of the financial management, low or least protection for the small depositors and introduction of sugar-coated products, which ... Read More »

Question of falling exports

  The government has set a $24.8 billion export target for the new fiscal year, projecting a 10.7 percent growth. The government had set $25.5 billion target for 2015-16 but could reach only $22.4 billion, with a hope to raise the exports to $35 billion in two years. The exports of the country are falling but the projected target of ... Read More »

Pros and cons of budget for 2016-17

  Finance Minister Ishaq Dar has presented Rs 4.394 trillion federal budget and has set an ambitious growth target of 5.7 percent for the fiscal year 2016-17. This is probably the first time in the history of the country that the government has presented a pro-agriculture budget after this vital and major sector recorded negative growth of -0.19 percent during ... Read More »

Economic Survey 2015-16

  The Economic Survey 2015-16 highlights the government achievements during the previous financial year, estimating the GDP growth at 4.71 percent, but missing various economic targets.The growth target of 5.1 percent is also missed. The finance minister has blamed the war on terror for the loss of the money as it cost the nation over $118 billion during the year. ... Read More »

Dar’s new push to boost exports

According to newspaper reports, Finance Minister Ishaq Dar has given the go ahead to a new tax regime for five export-oriented sectors. The government has also decided to abolish sales tax on inputs in the textile sector and is likely to clear the outstanding refunds in a couple of months. The move is apparently being seen as the desperate effort ... Read More »

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