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Jan 31, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Ali Khizar

Will bitter IMF pill cure?
Markets

Will bitter IMF pill cure?

The visiting IMF team - led by Jihad Azour met an exclusive set of journalists yesterday in Karachi in its last leg of the trip. The finding of the trip points to an encouraging start of the programme based on how market is reacting; how inflation has mov
Updated 20 Sep, 2019 06:01am
Will bitter IMF pill cure?
Markets

Will bitter IMF pill cure?

The visiting IMF team - led by Jihad Azour met an exclusive set of journalists yesterday in Karachi in its last leg of the trip. The finding of the trip points to an encouraging start of the programme based on how market is reacting; how inflation has mov
Published 20 Sep, 2019 12:00am
Signs of import Substitution
Print

Signs of import Substitution

The reported import bill, as per PBS data, stood at $3.6 billion in Aug-19 - lowest monthly number since Jul-16. In case of trade deficit, $1.85 billion is lowest since Mar-16. That is some progress, and the current account deficit is likely to reduce to
Updated 16 Sep, 2019 10:52am
Is there no end to tightening?
Markets

Is there no end to tightening?

One of the most criticised policies of the SBP is to take real interest rates at 5 percent plus on past 12-month moving average inflation, and at 1.75 percent based on SBP expected inflation (11-12%) in FY20. The reason explained by Governor SBP is that h
Updated 13 Sep, 2019 10:16am
Reforms Found Wanting
Markets

Reforms Found Wanting

One year is gone. There is not much to take home about the PTI economic team's performance. The team came totally unprepared, and on job training wasted some time, and additional cost incurred to an economy which was in an urgent need of stabilization mea
Published 05 Sep, 2019 12:00am
What is govt's plan?
Print

What is govt's plan?

The government does not seem to have a clear road map for economic recovery. The SBP is designing a policy of import compression, and is eyeing to jack up tax revenues growth at an unprecedented level, and the ministry of industry is eyeing to boost inves
Published 01 Sep, 2019 12:00am
Reducing micro Frictions
Print

Reducing micro Frictions

Recently, this writer attended a talk by Asim Khawaja where he raised a point that micro level frictions are hindering our economic progression. Next day he read an opinion piece by Faisal Bari, a noted economist, in which poor contract enforcement - a mi
Published 25 Aug, 2019 12:00am
Think fiscal discipline
Markets

Think fiscal discipline

The SBP is running by design a policy of demand compression to shrink current account deficit. The SBP Governor is saying this to analyst community that bringing the CAD down is the main consideration and it will be done, no matter what it takes. The poli
Published 18 Aug, 2019 12:00am
Energy the key to addressing fiscal woes
Markets

Energy the key to addressing fiscal woes

The most important variable to control through monetary tightening, exchange rate under valuation and other demand curing measures is current account deficit. Within it, in the short to medium term, the head to control is import bill. Thus, import compres
Published 11 Aug, 2019 12:00am
Opportunities in crisis
Markets

Opportunities in crisis

The exchange rate undervaluation is at levels last seen in 2001. Real interest rates were too high back then as well. The economy was struggling and the looming debt trap was the case. The situation is not much different today either. There were efforts t
Published 04 Aug, 2019 12:00am
Make cash holding difficult
Markets

Make cash holding difficult

Growing cash economy is becoming one of the biggest economic problems in the country, as it contributes towards looming domestic debt trap. The compliance of FATF is linked to documenting the economy, as cash instruments are used for terror financing and
Published 23 Jun, 2019 12:00am
Too much tightening not required
Markets

Too much tightening not required

The budget and medium term economic framework have two sides - fiscal and monetary. On the fiscal - main taxation, the direction is right and the policy paradigm shift is towards much needed documentation of the economy where both high tax collection and
Published 16 Jun, 2019 12:00am
It''''s a long journey
Print

It''''s a long journey

The basic framework of the budget is right. The efforts are to undo the impact of presumptive regime which was religiously followed by Dar. The policy direction is to reverse the impact of deindustrialization by reducing the duty on raw material and inter
Published 12 Jun, 2019 12:00am
It''s a long journey
Print

It''s a long journey

The basic framework of the budget is right. The efforts are to undo the impact of presumptive regime which was religiously followed by Dar. The policy direction is to reverse the impact of deindustrialization by reducing the duty on raw material and inter
Published 12 Jun, 2019 12:00am
It's a long journey
Print

It's a long journey

The basic framework of the budget is right. The efforts are to undo the impact of presumptive regime which was religiously followed by Dar. The policy direction is to reverse the impact of deindustrialization by reducing the duty on raw material and inter
Published 12 Jun, 2019 12:00am
It's a long journey
Print

It's a long journey

The basic framework of the budget is right. The efforts are to undo the impact of presumptive regime which was religiously followed by Dar. The policy direction is to reverse the impact of deindustrialization by reducing the duty on raw material and inter
Published 12 Jun, 2019 12:00am
Incentivize savings - now!
Markets

Incentivize savings - now!

Virtually all the economic targets have been missed, and by a large margin. Unachievable targets were set by the previous government, and then the incumbent's below average performance led to an almost embarrassing performance. The economy has shifted bac
Published 11 Jun, 2019 12:00am
Incentivize savings - now!
Markets

Incentivize savings - now!

Virtually all the economic targets have been missed, and by a large margin. Unachievable targets were set by the previous government, and then the incumbent's below average performance led to an almost embarrassing performance. The economy has shifted bac
Published 11 Jun, 2019 12:00am
Time's up for rent seekers - or is it?
Markets

Time's up for rent seekers - or is it?

This is arguably going to be one of the toughest budgets in decades. There are austerity measures to be taken both by government machinery and military by not increasing salaries and pensions. The more important elements are that the long used and abused
Published 09 Jun, 2019 12:00am
Complexities of taxation
Print

Complexities of taxation

"Everything should be made as simple as possible, but not simpler". Our taxation system complexities are required to be simplified, but at the same time, the coverage has to be broad based. The FBR is aiming a tall (next to impossible) target of 34-40 per
Published 02 Jun, 2019 12:00am