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GDP growth in 2022-23 — II

The previous article by this writer had presented the estimate of the GDP growth rate in 2022-23 as negative 1% from the supply-side in terms of the sectoral growth rates.…

GDP growth in 2022-23

The World Bank has revised its projection downwards of the GDP growth rate of the economy of Pakistan in 2022-23 from 4% to 2%. Presumably, this reflects the negative impact…

Currency controls

A two-day Corps Commanders’ Conference was held at the GHQ from December 27 to December 28. On December 29, the PM met the COAS. On December 30, a meeting of…

PML-N versus PML-N

The markedly different perceptions of the state of the Pakistan economy today between PML-N’s stopgap finance Minister Miftah Ismail (stopgap as his appointment both times was subject to Ishaq Dar’s…

A failing state

As a result of massive corruption, Pakistan today is virtually in a state of economic bankruptcy, although this has not been officially admitted. Banks have stopped opening letters of credit…

SBP’s newfound realism

The recent meeting of the Monetary Policy Committee (MPC) of the SBP (State Bank of Pakistan) has led to the decision to raise the policy rate by 100 basis points…

Is default in prospect?

The economy is closing in external payment ‘implied default’ situation. This means that with SBP’s (State Bank of Pakistan’s) forex reserves depleted, authorities may forcefully cut down imports further. SBP’s…

Default imminent?

The mantra “Pakistan is heading for a default” and the counter narrative “that it is not going to default” are reverberating for the last eight months in the corridors of…

An economic slide

Ever since the Pakistan Democratic Movement (PDM) came to power, the good governance myth of the top team of senior partner in the ruling coalition, Pakistan Muslim League-Nawaz (PML-N) is…

Real austerity: need of the hour

The policy of controlled imports is working as monthly import bill is down to $5 billion (on average) over the last two months. However, the desired objective to bring the…