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Tax And The Macroeconomic Situation

Tax and the macroeconomic situation

We only raise about 8-9 percent of our GDP as tax. This is definitely not enough for the government, to sustain all the expenditures that we, as a society, want…

Contours of a new IMF programme-II

This is the second article on the contours of a new IMF Programme. The first article was published last week. It focused on the projected external balance of payments from…

Planning educational emergency

‘What the best and wisest parents wants for his own child, that must the community want for all of its children. Any other ideal for our schools is narrow and…

Flawed IMF programme design

The International Monetary Fund’s (IMF’s) analysis and prescriptions in the second and final review document under the Stand-By Arrangement (SBA) dated this month are to carry forward to the next…

Full reserve banking: Part – III

Instead of keeping cash, depositors prefer to continue storing their money in banks despite nominal associated fees, if any. This trend has been evident over the last 20-30 years in…

Budget 2025: beyond accounting

Fiscal policy is a key arm of macroeconomic policy, one under the direct control of the government of Pakistan. Fiscal policy works through changes in the amount and structure of…

Did SBP and IMF get inflation wrong?

Following the recent approval by the International Monetary Fund (IMF) Executive Board to release the final tranche of SDR828 million (approximately $1.1 billion) under the standby agreement for Pakistan, Deputy…

Transparency, taxation & reforms

Macroeconomic conditions have improved over the course of the program. Growth of 2 percent is expected in FY24 given continued recovery in the second half of the fiscal year. The…

Short-term steps for the people

I grew up in a rural agriculture family, where my father and uncles possessed a joint piece of land that many households in our villages do not have. Though ours…