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Economic Reforms

Economic reforms

After the Raisman Award 1951, the next important development was the constitution of 1956. In many ways, for fiscal federalism, the 1956 constitution was a significant advance. It filled the…

Economic Reforms: Part – XXXIII

Economic reforms: Part – XXXIII

The primary instrument of fiscal federalism is provided in Article 160 of the 1973 constitution. This deals with the National Finance Commission, the body responsible for formulating recommendations with respect…

Economic Reforms: Part-XXIII

Economic reforms: Part-XXIII

The Social Action Programme (SAP) remained in operation until the close of the last millennium. The Asian financial crisis of the late 1990s and the protests in Seattle to push…

Economic Reforms: Part-XXII

Economic reforms: Part-XXII

So far our focus has been on the economic policies affecting macroeconomic variables such as growth, inflation, money, investments etc. However, no less important are the policies that are impacting…

Economic Reforms

Economic reforms

The dawn of the new century provided an exceptional opportunity to fix the tax system. The military government did not face the lingering political uncertainty that characterised the tenures of…

Economic Reforms: Part – XXVII

Economic reforms: Part – XXVII

A key objective of the Poverty Reduction Strategy Paper (PRSP) was to reduce poverty, as measured by income or through other proxies of welfare. Even though, for the greater part…

Economic Reforms: Part – XXVIII

Economic reforms: Part – XXVIII

We now turn to the subject of population welfare to complete our coverage of social sectors. Nothing is more critical for long term economic and social stability of Pakistan than…

Economic Reforms: Part – XVIII

Economic reforms: part – XVIII

During 1988 - 2000, a number of efforts were expended to reform the tax system in the country. In 1985, a tax reforms commission was established to recommend a complete…

Economic Reforms

Economic reforms

We return to our series on economic reforms. An area that is truly the most intractable problem of fiscal finances is public expenditures. While a great deal of attention is…