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Running banks and airlines

THE provinces are already running banks: Bank of Punjab, Sindh Bank and Bank of Khyber. Balochistan is the only province that does not have a bank of its own, but…

State Bank’s blind spot

IN its latest State of the Economy report, the State Bank has an interesting chapter on inflation dynamics in Pakistan that is worth a close read. It is an ambitious…

Economic policy and central bank independence

Unfortunately, economic policy globally is settled on very unsettling fundamentals, and rather than fixing this, the blame for high level of inequality and increasing absolute poverty that this Neoliberalism oriented…

Our elite’s bankruptcy

“God gave Noah the rainbow sign, no more water, the fire next time.” AS Pakistan’s difficulties in meeting its external payment obligations deepen, its elitist policymakers, both past and present,…

Islamic banking: the challenges ahead

WILL our economic and financial system be able to eliminate riba (interest) by December 2027, as ordained by the Federal Shariat Court? If the past is any guide, this time…

Independent central bank

READERS may remember there was much hue and cry over the amendments to the State Bank of Pakistan Act, 1956, that were legislated in January 2022. The present government, then…