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The road forward

Pakistan today faces a myriad of problems that range from poor governance systems, lack of proper long-term planning, uncontrolled increase in population, and water shortages to a poor educational system,…

The missing ingredients in Pakistan

Since the 18thCentury, one country after another has experienced what Harvard economist Rostow called a “take off into sustained growth”. Rostow stated that, every once in a while, something happens…

Nationalise the IPPs

In Gordium, the capital of Phrygia (ancient Greece), legend had it that whoever could untie an oxcart tied by a complex knot would rule all Asia. Famously, in 333 BCE,…

Investment-friendly Pakistan?

The Pakistani ruling elite routinely makes tall claims about attracting massive investment that it believes can transform the country. Sections of media instantly jump on this narrative, spreading it on…

Economic pragmatism vs ideological rigidity

Compare last week’s newspaper headlines with those from the 1990s and it would seem that little has changed in Pakistan’s economic circumstances. Currently, as in the 1990s, the country is…

Heavy indebtedness & power sector crisis

In terms of new commitments, the Government of Pakistan signed new agreements, worth USD 7,228 million, during the period under review. These commitments comprised financing agreements signed with foreign commercial…

Anatomy of ‘Debt Management Strategy’

Pakistan’s persistent fiscal imbalance has cast a negative shadow on the overall economic scenario. Unless significant and enduring fiscal reforms are initiated and implemented with full vigour, the likelihood of…

Economic challenges: timely actions needed

The coalition government of the Pakistan Democratic Movement (PDM) is approaching completion of its tenure in the next few days. While presenting their last budget for the current fiscal year…