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Meaningless budget

Pakistan’s annual budget due this month is in danger of becoming meaningless unless backed by progressive and brave policy reforms. For years, successive governments have presided over largely inconsequential budgets…

IMF: reform or ruin?

For the last three decades, Pakistan has been borrowing heavily from the IMF -- giving rise to a chronicle of crises. The debt crisis has led to development and growth…

Real reforms in sight?

The initial signs of real reforms are in sight. This includes crackdown on smuggling of goods and currencies through Afghanistan and Iran borders and reforms of the exchange companies where…

Countering market fundamentalism

Amidst a deep economic and financial crisis, the pundits of the neoliberal world are again prescribing a recipe for disaster, piling pressure on the government to privatize state-run entities and…

Central Asia and the BRI

One major geographic characteristic of Central Asian countries is their landlockedness. Being a landlocked economy creates challenges in all spheres of policy – foreign policy, security, international trade as well…

The US debt row

As US President Joe Biden prepares to reengage in negotiations with House Speaker Kevin McCarthy and other influential Republicans on the critical issue of the debt ceiling to find common…

The Toshakhana’s moral vacuum

Now that the Toshakhana record for the period 2002-2022 is in the public domain, we can see how morally questionable the rules were that allowed our leaders to keep gifts…

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…

After the IMF tranche

On December 16, 2021 at a Hamdard University seminar where Dr Miftah Ismail was another speaker, I had said that Pakistan as a state is no longer a ‘going concern’.…