The need for tax system reforms
Prime Minister Shehbaz Sharif has a strong connection with the business community, especially with the Lahore Chamber of Commerce, as he has served as its president and is well-acquainted with…
Economic governance framework
BEFORE proposing solutions to the economic governance challenge, it is useful to briefly review the current position. Loans, deferred payments, lowering currency value etc can give temporary relief but it…
IMF is here to stay
The IMF and Pakistani authorities have reached a staff-level agreement on a 37-month Extended Fund Facility (EFF) Arrangement of about dollar 7 billion. The agreement, inked on July 12, is…
A fragile balance of payments
The statistics on the external balance of payments of Pakistan in 2023-24 were released last week by the SBP (State Bank of Pakistan). These statistics reveal a fragile position of…
Outlook for FY25
The fiscal year, 2024-25, promises to be an eventful year. It will see early negotiations between the Government of Pakistan and the International Monetary Fund for a three-year Extended Facility.…
Budget tightens the screws on urban middle class
The FY25 budget has been passed, potentially securing next programme from the IMF (International Monetary Fund) and unlocking up to $7.5 billion in external flows. While this is a rare…
Revenue at the expense of growth
There is a perception among people that the IMF guidelines provided for the preparation of the FY25 budget are more prone to enhancing revenues through heavy taxation than to GDP…
An appraisal of FY25 federal budget
The Federal budget for 2024-25 has been presented in a mixed economic environment characterised by both positive and negative developments. The GDP growth rate has turned positive to 2.4% from…
Budget: an analysis
Flanked by the Deputy Prime Minister, Muhammad Ishaq Dar, once hailed as the PM-N’s (Pakistan Muslim League-Nawaz’s) strategic brain, and Defense Minister Khawaja Muhammad Asif, the finance minister delivered his…
EFF programme, non-inflationary economic growth, and counter-cyclical policy approach
A recent ‘Transcript of Global Financial Stability Report April 2024 press briefing’, carried a rather very pertinent question regarding a possible need to revisit policy focus traditionally to control inflation…
