The International Monetary Fund (IMF) in its recently-released flagship report ‘World Economic Outlook [WEO] update: inflation peaking amid low growth’ indicated that while the economic growth prospects globally had improved…
Among many compelling reasons for further devolution to the third tier is that citizens in a local jurisdiction are found to pay more taxes as they see that these are…
Pakistan has one of the world’s lowest tax ratios, stemming from five main weaknesses: complexity, a narrow tax base, low compliance, inefficient tax administration, and low and declining provincial tax…
Agreed, Pakistan’s credit default swap (CDS) risk has increased substantially during the current year, that it has a huge financing gap in terms of its loan repayment needs, and that…
Studies on sectoral incidence show that industry bears more than two-thirds of the tax, while the services sector bears about 21 per cent and agriculture 3.0 per cent. In the…
Very few people outside the economics profession realize that fiscal (government revenue and expenditure) and current accounts (inflows and outflows of foreign exchange) are closely interlinked. A current account is…
The Federal Board of Revenue earlier announced having successfully exceeded its revenue collection target for the month of November -- and hence having collected surplus revenue in the first five…
‘The world is confronting multiple, compounding crises, from Covid-19, energy, inflation, debt, and climate shocks to unaffordable living costs and political instability. The need for ambitious action cannot be greater.…
In its policy prescription, the International Monetary Fund (IMF) has been pushing Pakistan for adopting procyclical policies, that is, asking the country to cut spending, raise policy rate, and increase…
By looking closely at the interlinked deprivations of poor people, this report provides valuable insights on how to tackle multidimensional poverty—referred to simply as “poverty” throughout—by addressing its multiple dimensions—Global…
