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Loss of national wealth

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According to news reports, Pakistan has lost Reko Diq mining case in international courts and is facing $11.43 billion in damages, thanks to corruption and inefficiency of the successive governments in Balochistan. The provincial governments frequently changed the agreements of ownership from one company to another from 1998 to 2006 allegedly in violation of Chagai Hills Joint Venture Exploration Agreement. ... Read More »

Another amnesty scheme

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According to newspaper reports, the prime minister is weighing options to launch an amnesty scheme for the owners of the offshore companies. The step shows how the government is trying to stabilize financial affairs and bring back the black money to Pakistan from abroad. The prime minister is on the forefront to offer an amnesty scheme by persuading the well-to-do ... Read More »

Case of low FDI

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The opposition parties from across the board have started a campaign to draw political mileage from the government mistakes ahead of the general elections. The country is facing threats from India, United States and Afghanistan on the external front and faces various challenges on the internal front. The economy is gradually going on the downward trajectory as trade deficits are ... Read More »

Trade with Saudi Arabia

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There are close personal relations between the elite of Pakistan and Saudi monarchs. The formers frequently visit the kingdom to look after their businesses, the latter’s only visit Pakistan for haunting the threatened species or merrymaking. The Saudi monarchs have always shown little interest in business with Pakistan and the European countries appear to be the best destinations for riyals. ... Read More »

Economy in a shambles

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As the term of the present government is going to end this year, the economy still suffers the old wounds and is awaiting a savior to start a healing process. The Pakistan Muslim League-Nawaz, which came to power with an agenda of economic revival, not only failed to clean up the mess created by the Pakistan People’s Party government, but ... Read More »

Infrastructure financing by lending agencies

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According to the Asian Development Bank, it is exploring opportunities to fund development projects in various countries, including Pakistan, in collaboration with the Asia Infrastructure Investment Bank. The two giant financial organisations are already co-financing various projects, including construction of roads, clean energy as well as private-sector undertakings. The banks have so far co-financed infrastructure projects, one each in Pakistan, ... Read More »

Stability of rupee value

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The policymakers in this country are in the habit of making and breaking decisions on important issues. They take a decision enthusiastically only to reverse it after sometime, leaving a mess of confusion at the end. The State Bank of Pakistan entered the new year by gifting the nation with depreciation of the Pakistani rupee. The bank also restricted the ... Read More »

Prospects of economic growth

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  According to the Global Economic Prospects report published by the World Bank, economic growth of Pakistan is expected to increase by 5.5 percent during the current fiscal year. However, domestic risks, fiscal slippages, increasing liabilities of infrastructure projects and limited growth in tax revenues are the issues need to get serious considerations. Though the lack of revenue generation through ... Read More »

Moody’s concerns

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According to the latest report of Moody’s Investors Service, rupee will continue to depreciate against dollar in the near future after five percent devaluation last month. The investor service warns that the negative impacts of the depreciation are looming large, requiring the State Bank to take immediate steps to arrest the situation. It says that further depreciation of rupee will ... Read More »

Saudi Arabia as trade partner

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After years of political and economic cooperation with Saudi Arabia, the current government is still ‘developing a comprehensive package’ in consultation with stakeholders to promote bilateral trade. The government is working on identifying ‘potential’ areas of cooperation between the two countries. Ironically, Pakistan and Saudi Arabia are considered ‘brotherly Islamic’ countries and the political elite of the country has close ... Read More »

Ad hocism in economic matters

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Despite hundreds of ups and downs in political and economic matters, ad-hocism remained the only policy which has constantly been pursued in Pakistan since independence. Every government institution and agency is running on ad hoc basis and every policy and programme is the product of this policy. As a result, the nation is far from achieving the cherished goal of ... Read More »

Rising budget deficit

BUDGET DEFICIT

Media reports suggest the budget deficit in dollar term has reached $7.5 billion during the first five months of the current fiscal year, more than half of the annual target, belying the claims that the country has achieved macroeconomic stability. With increase in the budget deficit, the gap between income and expenditure has widened to 2.3 percent of gross domestic ... Read More »

Resilience of Pakistani economy

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After hurling threats through tweets and diplomatic channels of unspecified actions and reiterating its hackneyed demand of ‘do more’, the United States has at last stopped all ‘military aids’ to Pakistan. There is a lesson for the Pakistani leadership to always take the national interest supreme in decision-making and in all circumstances. It is the lesson for the nation to ... Read More »

Bad shape of economy

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Pakistan survived as a debt free country for years despite challenges of rehabilitation of hundreds of thousands of refugees confronting the nascent nation in the early years of independence. The government had no funds to carryout day to day affairs, but the nation lived on without any external help. But the current situation is that the economy has been mortgaged ... Read More »

Fiscal risk to economy

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According to a World Bank report, sovereign guarantees associated with China-Pakistan Economic Corridor and over spending ahead of the next general elections could pose substantial fiscal risks for the country’s economy. On another note, economists believe that strings of implications attached with $46 billion Chinese investment could disturb Pakistan’s external and fiscal accounts. Therefore, the government should have to take ... Read More »

Rise in value added textile exports

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According to newspaper reports, textile exports are expected to touch $13 billion mark during the current fiscal year. The volume of the exports of value-added textile goods has already jumped to 7.66 percent during the first five months of the current fiscal year. Ironically, exports of textile goods steadily declined year on year since 2013 when it reached $13.73 billion ... Read More »

Gains and losses in 2017

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  The year 2017 remained difficult for some businessmen but comfortable for the others. The nation faced political upheaval during the year as Prime Minister Nawaz Sharif was packed home on the Supreme Court’s order and the move changed the political milieu of the country. Political instability and absence of the finance minister from Pakistan put the economy under dire ... Read More »

Auto industry

New cars are transported in a truck in Sao Bernardo do Campo

According to newspaper reports, at least 500 Chinese automakers have shown interest in setting up their manufacturing plants in Pakistan. The companies interested in the local auto industry include the manufacturers and assemblers of heavy-duty trucks, engines, auto parts and tyres. In a discussion with representatives of the Islamabad Chamber of Commerce and Industry, a delegation of Chinese businessmen expressed ... Read More »

Current challenges faced by economy

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  According to a report issued by the Institute for Policy Reforms, the economy of Pakistan faced serious challenges and vulnerabilities during the first quarter of the current fiscal year. The report also mentions remarkable increase in tax collections but foreign financing remains a major challenge for the economy. The gross domestic product of the country remained 4.4 percent during ... Read More »

Potentials of gem industry

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The All Pakistan Gem Merchants and Jewellery Association’s decision to introduce the world of the local natural treasures by setting up a gem bazaar is the first ever effort of the kind in Karachi. The move is probably too much delayed on the part of the gem producers, exporters, retailers and merchants. However, it is better to do late than ... Read More »