Beggars cannot be choosers
Since Ayub's era our rulers have developed addiction for large intakes of foreign loans, especially IMF bailouts - many call it death-blows. With every loan comes a host of conditions.…
Faulty gas distribution to invite food crisis
Power shortage haunts Pakistan and its political leadership with increasing intensity as Pakistan's majority the Muslim population enters the holy month of Ramazan. The experts estimate that electricity shortages cost…
A shambolic budget
The budget was passed with a majority vote this Thursday which, given the PML (N) strength in parliament as well as the constitutional amendment stipulating that a national assembly member…
Taxing the taxed: Income Support Levy Act, 2013
In the current budget, the government has proposed to levy a wealth tax by proposing to enact a new law.1 The object of the tax is to provide financial assistance,…
Revenue targets for 2013-14
According to Press reports, the Federal Board of Revenue (FBR) is not going to collect even Rs 2000 billion against the target of Rs 2381 billion fixed in budget 2012-13,…
Tax proposals – I
On June 5, 2013, we will have a new government in action - faced with multifaceted and complicated problems on economic front. It's immediate task of framing budget for fiscal…
Fiscal indiscipline: the ruinous surge
Five years of misgovernance by the previous regime have not only destroyed the economy of Pakistan and damaged its institutions but also drowned the country under a deluge of debt,…
The IMF dilemma
One of the challenges the new government will face immediately is to make a decision on whether or not to approach the IMF for financial relief. Pakistan borrowed nearly $8…
Pakistan and leadership transition in China
Since the 1990s, China's top leaders serve a maximum of two five-year terms. With the last batch of leaders having reached the end of their second term last year, there…
Gorilla in the closet Problem of NSS
Reducing the budget deficit has traditionally been hard for Pakistan, given the country's problem with stagnant tax collection and unyielding public spending; it is only exacerbated by endemic corruption. Countries…
