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A stronger trade policy

The first four months of 2017-18 have witnessed a further deterioration in the balance of payments position. The trade deficit has risen by 41 percent to $ 9.7 billion. Exports…

A New Window Of Opportunity?

A new window of opportunity?

Pakistan's exports in fiscal year 2012-13 were $24.5 billion, including $12.8 billion textile exports. However, exports saw a drastic decline in fiscal year 2015-16 after coming down to $20.8 billion,…

The Crash And Its Consequences

The crash and its consequences

International oil prices (Brent crude) have come down to 36.79 USD/bbl (Monday, March 9). By the time, readers read these lines, Brent crude may go down further. At its highest…

New economic data: What does it tell us?

Taking a break from our series on Short- and medium-term economic challenges, we reflect on the new information released for the month of July and a critical data relating to…

The fiscal challenge

One of the most formidable challenges that the new government will face is in stabilizing the state of public finances of the country. This is essential for a number of…

Fertilizer industry of Pakistan

he fertilizer industry of Pakistan has enormous potential and is well on its way to becoming one of the biggest fertilizer exporters in the region in the coming years. Factors…

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…

The form and design of IMF programmes

For most of the IMF programmes since 1988, a coupling of short-term programme (Stand-by SBA) with a medium-term programme (Extended Fund Facility (EFF), variously named) has been the norm. The…

Budget and economic imperatives

The PML-N government has finally presented its sixth budget, one more than required during their tenure, on 27 April 2018. This has been the most awkward event in the country's…

Runaway budget deficits

The last three years witnessed a steady decline in the consolidated budget deficit during the tenure of the IMF program. The deficit was 6.4% of the GDP in 2012-13, excluding…