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Eighteenth Amendment

Asif Ali Zardari as President signed two documents much appreciated at the time that have become the subject matter of intense politicking in recent months notably the seventh National Finance…

Post-18th Amendment fiscal challenges

The fiscal management in the wake of 18th Constitutional Amendment [the "18th Amendment"] has been posing serious challenges for all. The problems diagnosed by experts are ambiguity over taxation rights…

Protecting The Eighteenth

Protecting the eighteenth

For some time now, the conversation surrounding the eradication of the 18th Amendment has taken a turn for the worse in political and media fraternities. The new government seems to…

Lessons from IMF’s Country Report

The International Monetary Fund (IMF) published on November 17, 2023 Country Report No. 23/370 titled Pakistan Technical Assistance Report–Public Investment Management Assessment–PMIA and climate PMIA [hereinafter “the Report”] prepared during…

SIFC making waves?

Special Facilitation Investment Committee (SIFC) was established by the Shehbaz Sharif-led government on 17 June 2023, and has since come under considerable criticism - by Shahbaz Sharif haters who maintain…

Daunting fiscal challenges

Since the assumption of power in April 2022, the coalition government of Pakistan Democratic Movement (PDM) has been facing daunting challenges on the fiscal front. It is evident from the…

A reality-check desperately required

The damning indictment of Pakistan’s economic policies continues with the latest attack by Managing Director International Monetary Fund (IMF) Kristalina Georgieva who stated in an interview to Deutsche Welle on…

Taxation of immovable property

The National Assembly through the Finance Act 2012 amended section 37(5) of the Income Tax Ordinance, 2001 [“the Ordinance”] and for the first time levied capital gains tax (CGT) on…

Wheat crisis

Agrarian economy of Pakistan employs a large workforce and considered vital from a social, livelihood and foreign exchange perspective. Agriculture’s share in total GDP in the fiscal year (FY) 2021-22,…

Legal fiction, Section 7E & Constitution

The Elahi Cotton case (it is the most misunderstood and misapplied judgement) makes absolutely clear that any item to be taxed should rationally be capable of being considered as the…