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Need for greater discretionary economic policy

The International Monetary Fund (IMF) has pushed for pro-cyclical, austerity-based policies in its Stand-By Arrangement (SBA) programme with Pakistan in line with its usual bread-and-butter policy prescription generally meted out…

Economic policy by the interim govt

Given Pakistan is facing very difficult economic challenge, mainly in the shape of bringing debt sustainability, on one hand, and on the other controlling inflation, while also providing as much…

‘Heat economic policy’

It is, indeed, important that Pakistan should continue to deal with its macroeconomic and growth challenges of the traditional nature, reducing twin deficits, avoiding stagflation, reforming state-owned enterprises, and fixing…

A mission-oriented industrial policy

‘While it is generally true that mainstream economists have responded to industrial policy with knee-jerk hostility since at least the 1970s, things have been changing fast, owing to new academic…

The indictment of monetary policy

The Stand-By Arrangement (SBA) documents uploaded on the International Monetary Fund (IMF) website this Tuesday past, 18 July, added monetary policy mis-calibration to the risk assessment matrix – missing from…