Subsidies and IMF
The staff level agreement reached between the International Monetary Fund (IMF) and Finance Minister Ishaq Dar contained the standard normal IMF condition: "untargeted subsidies that disproportionately benefit the well-off will…
The energy challenge
OVERCOMING Pakistan`s energy crisis has been proclaimed as the highest priority by Prime Minister Nawaz Sharif`s government. The recommendations issued by the Pakistan Visionary Forum`s energy experts at their Lahore…
Beyond breaking the bowl
The $5.3 billion (which may go up by $2 billion) staff-level agreement with the International Monetary Fund is a classic case of borrowing afresh to work off the current debt.…
Beyond breaking the bowl
The $5.3 billion (which may go up by $2 billion) staff-level agreement with the International Monetary Fund is a classic case of borrowing afresh to work off the current debt.…
Predictable programme
So the inevitable has transpired. Heralded by some chestthumping theatrics on `negotiating only on our terms` we have signed our 20th IMF programme since the late 1950s. Although the IMF…
Budget 2013-14: Concluding Speech
Alongside is the text of concluding speech delivered by Senator Mohammad Ishaq Dar, Federal Minister for Finance, Revenue, Economic Affairs, Statistics and Privatisation, in the National Assembly on 22nd June…
Negotiating a new IMF programme
Two weeks ago (June 11), I suggested that it was time for Pakistan to go to the IMF for balance of payments support as the country’s foreign exchange reserves had…
The willing lender
Pakistan and the IMF have started discussions for a fresh round of IMF financing. This will be the twelfth IMF programme in over two decades. Pakistan holds the unique distinction…
An ambitious budget
Turning to current expenditure, debt servicing is expected to increase by Rs125 billion, defence by Rs57 billion, grants by Rs3 billion and civil administration by Rs23 billion. On the other…
Managing energy
Prof James Trevelyan has rightly pointed in his article, ‘Pakistan has a bright energy future’ (May 31), that Pakistan can overcome its energy issues by rethinking its electricity distribution. I…
