Public debt on an explosive path
Even though a clamouring about previous government's contribution to public debt had started from the beginning, things were relatively contained during the period the country was undergoing the IMF program.…
More bad news on the economy
In our recent submissions (BR: 19-6-2018), while commenting on the first eleven-month fiscal outcome, we had apprehended that the deficit could reach as high as 7%of GDP or Rs 2.4…
Economic reforms: Part-XXXII
In the next few parts in the series, we will narrate the evolution of fiscal federalism in Pakistan. This is a very sensitive subject as passions often mar rational discourse…
Public debt: boon or bane?
We now turn to the use of the proceeds of public debt. For this purpose, it is important to understand the system of fiscal management in the country. This is…
Advice to the new government
It has been widely reported in the press that the caretaker government has prepared a detailed strategy paper for handling the economic situation. The details available are sketchy, but the…
SBP autonomy and monetary policy – V
IMF was not content with the establishment of Monetary Policy Committee (MPC) under the SBP (Amendment) Act, 2015. It was raising additional demands, which were pushed back by the Finance…
Pakistan’s debt: putting the record straight
Economic indicators are always open to interpretation and debate. Some analyse these numbers objectively whereas others fall prey to their biases. In the latter case, analysts gather and present only…
Public debt management
When the present government started its term in June 2013, it inherited challenges like large fiscal deficit, rising debt burden, unfavourable balance of payments, low foreign exchange reserves, poor growth…
Improving fiscal management – II
There is no political will to implementing the above mentioned well-defined fiscal reform agenda, though general consensus on it exists in society. Addiction to borrowed money and lust for wasteful…
