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Financial inequality breeds contempt

Our society essentially stands divided into three classes. The elite class comprises the top bureaucrats both civil and military, business tycoons and politicians. Then follow two classes – the thinning…

Cutting losses

Pakistan’s energy sector has been facing potential losses and distortions in the distribution sector for years now, costing the national exchequer billions annually. In 2019 alone, DISCOs posted a loss…

Countering financial crimes

In recent days, Federal Board of Revenue (FBR) has taken many steps to enforce internal accountability mechanism to uproot corruption/malpractices within the organisation. The steps like making Chief Commissioners as…

Recouping tax losses judiciously — I

“Judicial overreach is when the judiciary starts interfering with the proper functioning of the legislative or executive organs of the government. This is totally uncharacteristic of the role of the…

Investigate the petroleum losses

The decision of the prime minister to remove SAPM for Petroleum Nadeem Babar and Secretary Petroleum Asad Hayauddin from their posts for losses caused to the exchequer in the petrol…

Some thoughts on improving global financial governance

Globalization has recently come under attack for having given rise to excessive nationalism and protectionism. Excessive nationalism and protectionism carry the potential to hamper global economic recovery. For this reason,…

Financial emergency: possible/probable?

Is the declaration of a financial emergency imminent if the budget 2018-19 is implemented? This has been categorically rejected by Federal Finance Minister Miftah Ismail as one would have expected…

Digital financial services

The last decade and a half has experienced an exponential growth in mobile phone density in Pakistan, which stood at around 70% (March 2016, PTA). Much of this proliferation is…