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Op-Ed

Op-Ed section will have latest editorial and analysis…

Call to rationalize tax rates

  The Pakistan Banks’ Association has asked the government to rationalize the income tax rate for the banking institutions in the federal budget. Previously, the government had reduced the income tax rate for the corporate sector from 35 percent in 2013-14 to 32 percent in 2015-16 without offering the same concessions to the banking institutions. The successive governments in Pakistan ... Read More »

Panama leaks and corruption

Panama leaks published a couple of days ago has shacked many capital around the world and revealed a startling fact that corruption is no more a local, personal or individual issue, but a global concern. The International Consortium of Investigative Journalists and an international coalition of media outlets investigated the trove of papers, which allegedly reveal a clandestine network of ... Read More »

Business with Italy

It is a good omen that over 40 Italian companies are interested to do business in Pakistan and are looking to explore opportunities in the local market. Italy is the member of G-8 countries, which is a group of the most industrialized nations in the world, and has huge investment in various developing countries across the globe. Many Italian companies ... Read More »

Charter of economy

Finance Minister Ishaq Dar has been trying to sell the idea of the charter of economy for the last couple of years in a country where political forces refuse to accept reasons and prefer to walk alone with their specific agendas. Dar’s idea is to sign an agreement by taking all political parties on board to separate economy from politics. ... Read More »

Loans vs economy

The International Monetary Fund has describe the inordinate delay in privatization of loss making public sector organizations as ‘unfortunate’. However, the fund has been going ahead with its $6.2 billion extended facility programme since September 2013 despite the failure of the government to introduce structural reforms in various sectors, including delaying the process of privatization. At least $5.5 billion have ... Read More »

Challenges to economy

In its second quarterly report for financial year 2016 on the state of economy, the State Bank of Pakistan has indicated that Pakistan will have to manage $6 billion per annum for external debt servicing obligations until 2020. Despite global challenges, the country’s macroeconomic outlook appears stable, inflation is expected to stay low, risks on the external front have been ... Read More »

ADP narrative

According to a report by the Asian Development Bank, the economy of Pakistan will continue to grow by 4.5 percent during the current fiscal year ending June 2016 and by 4.8 percent for fiscal year 2016-17, thanks to macroeconomic stability, improvement in energy supply and investment in infrastructural projects, including China Pakistan Economic Corridor. The annual economic report says that ... Read More »

Journey from fiscal stability to growth

  The government is eying on achieving ambitious 5 percent growth in the gross domestic product for the current fiscal year ending in June, as the International Monetary Fund has approved the second last tranche of its extended facility program for Pakistan. The Asian Development Bank and the IMF expect this year’s growth at 4.5 percent, but the challenge of terrorism ... Read More »

Refusing to accept FDI

In a meeting with foreign investors at the Overseas Investors Chamber of Commerce and Industry, Special Assistant to the Prime Minister on Revenue Haroon Akhtar says that macro-economic conditions have improved and the government is set to launch growth-oriented economic policies in the next federal budget. No doubt the government wants to increase foreign direct investment and the prime minister ... Read More »

Pak, Iran economic relations

If Pakistan is the emerging economy, Iran is the emerging economic power. Both the countries are intermingled in historic, cultural and religious bonds and time is ripe to strengthen economic relations. Economy reigns supreme in modern diplomacy, but it is more than diplomacy as economy is the only binding force which keeps the nations of diverse ideologies and geographies all ... Read More »

Approval of IMF tranche for Pakistan

According to the media reports, the executive board of the International Monetary Fund has approved the second last tranche of the $6.2 billion extended fund facility loan programme for Pakistan. Fortunately or unfortunately, the new government in Islamabad had to sign a deal with the donor agency in September 2013 to repay the earlier loans, meet the international obligations and ... Read More »

Decline in textile exports

According to newspaper reports, exports of textile and clothing show a decline of 8.76 percent during the first eight months of the current fiscal year, apparently due to the shortage of electricity and delay in disbursement of export refund claims. The textile exports have been declining for the last two years despite achieving the preferential market access to the European ... Read More »

Reality about macroeconomic indicators

Finance Minister Ishaq Dar has claimed that macroeconomic indicators are showing a modest growth of 4.24 percent in the gross domestic product during the current fiscal year. The lower oil prices in the international market has resulted in the decline of consumer price index at 2.48 percent during July-February 2015-16 as compared to 5.45 percent in the same period last ... Read More »

High expectations from auto policy

  The government has opened the doors for European car brands such as Fiat, Audi and Volkswagen to establish manufacturing units in the country. The ambitious five-year automobile policy offersa host of tax incentives for new entrants as well as it will enhance consumers’ trust in the locally manufactured units and will ensure availability of state of the art brands ... Read More »

Trade policy framework

  According to newspaper report, the government has approved the budgetary allocation of Rs 6 billion to implement the trade policy initiatives for 2015-16. Prime Minister Nawaz Sharif has approved a three-year Strategic Trade Policy Framework after over a year of extensive deliberations with a majority of stakeholders in the public and private sectors. The main thrust of the policy ... Read More »

Hopes from new auto policy

The government has come up with a new auto policy with a package of incentives for the European auto manufacturers to invest in the automobile sector in the country. The Economic Coordination Committee of the Cabinet has approved a five-year Automotive Development Policy after two and a half years of deliberations to ensure availability of vehicles at competitive rates. The ... Read More »

Need to revive gas pipeline project

The Iran-Pakistan Gas Pipeline project, which was once a media-hype like the China-Pakistan Economic Corridor is today, went to oblivion after sanctions were imposed on Iran by the so-called ‘international community’. However, the situation has changed now and Iran is ready to enter the world economic market with full might. High hopes are pinned on the visit of Iran President ... Read More »

Next step after tax amnesty scheme

The lukewarm response to the government’s tax amnesty scheme reveals a bitter fact that the people having taxable income are not ready to enter the taxpayers’ club on easy terms. The government has extended the deadline twice without achieving the desired results and the effort that one million new taxpayers will be added into the tax net ended in fiasco. ... Read More »

Steps for stable economy

  State Bank Governor Ashraf Mahmood Wathra has projected the economy as stable and growing at the rate of four percent with stability in macroeconomic indicators. According to him, the economy is not facing any major risk but has been showing remarkable recovery during the last two years and is growing at four percent without any let up in its momentum ... Read More »

IPR report on economy

  According to a report released by the Institute for Policy Reforms, the country has been falling behind growth targets for the last six months despite achieving economic stability with active support of the International Monetary Fund. The fiscal deficit remained within the target at 1.7 percent during the first six months of the current fiscal year while revenue collection ... Read More »