Sakib Sherani
AMONGST the many worrying elements in Pakistan’s current economic condition — faltering growth, record-low investment, historic inflation — it is perhaps a tough call to pick the one we should be most concerned about. Arguably, however, the most destabilising dynamic in the medium term is associated with the rapid accumulation of public debt that has occurred since 2008.
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Dr Muhammad Yaqub
The country has witnessed a steadily declining economy, a weakening of the conventional defence capability and emergence of a directionless foreign policy during the last several years.
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Dr Muhammad Yaqub
The next budget will be presented to the National Assembly within a month. It will be rubber stamped by parliament without any meaningful debate or critical appraisal. Soon after its passage, it will stand shelved in the ministry of finance and the fiscal affairs and economy will be managed as before without any regard to what was presented to, and passed by, the NA.
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Sakib Sherani
AT this time of the year, Q block in the Pakistan Secretariat is the epicentre of budget activity (along with the FBR HQ).
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S. Akbar Zaidi
ELITES are taxing in any context and in any environment. In Pakistan, however, their behaviour makes matters doubly worse.
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By: Shakeel Ahmad
Sarfaraz Khan, a low-paid sanitary worker, may have to contribute more to the exchequer in case of expected upward revision of taxes, but he has little sway to influence the shaping of next year’s budget of the Khyber Pakhtunkhwa government. Continue reading
By Shahid Javed Burki
It is fair to suggest that ever since Pakistan began life as an independent state, it has never developed a sound growth strategy to deliver a high rate of GDP increase that would be sustainable. It followed the simple production function approach put forward be the early thinkers in the field of development economics. According to it, all that was needed for economic growth was to combine capital with labour. Continue reading
Dr Ashfaque H Khan
Pakistan’s fiscal profligacy has been in the news for the last five years. All those who have an interest in Pakistan’s economy have been writing on this issue and highlighting the importance of fiscal discipline in preventing macroeconomic imbalances as well as achieving a full growth potential. The government, on the other hand, appears to be least interested in pursuing a sound and disciplined fiscal policy. Hence, the rot continues in terms of low economic growth, stagnating job creation, increased poverty, higher inflation and more debt.
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By: Dr Sania Chaudhry
The recent surge in fuel prices has once again tested the patience of the Pakistani people. As if their problems were less severe, another bomb has been hurled on them. The prices of basic food and household items are constantly increasing and possibly surpass the rates of comparable items in the most expensive, developed countries like the UK.
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Dr Ashfaque H Khan
Dr Shoaib Suddle, the federal tax ombudsman (FTO) has taken suo motu notice against the attempt to overstate tax collection number for the year 2010-11 by the Federal Board of Revenue (FBR). This act of mis-statement of facts by the FBR not only embarrassed the government but also tarnished the image of the country in the eyes of the international community and financial institutions. Taking suo motu notice by the FTO is a courageous step and must be appreciated by all those who have love for their country.
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