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Nov 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Dr Hafiz A Pasha

Reducing the primary deficit
Print

Reducing the primary deficit

Contrary to the practice in previous IMF Programs with Pakistan, the emphasis in stabilization of public finances this time will not be on reduction in the overall budget deficit but on containment of the primary deficit. The objective will be the transfo
Published 28 May, 2019 12:00am
Financing of external payments
Markets

Financing of external payments

The outstanding external debt of Pakistan crossed the century mark early this year. It stands as of the end of March 2019 at $105.8 billion, according to the figures released recently by the SBP. This represents an increase in the stock of external debt o
Published 21 May, 2019 12:00am
The GDP growth rate
Markets

The GDP growth rate

The National Income Accounts Committee has endorsed the provisional GDP growth rate estimate by the PBS for 2018-19 at 3.3 percent and also the revised estimate of the growth rate of the economy in 2017-18 at 5.5 percent. The latter is somewhat down from
Published 14 May, 2019 12:00am
FBR's performance
Print

FBR's performance

The Federal Board of Revenue (FBR) put in an exceptional performance in collecting tax revenues from 2012-13 to 2017-18. The average annual growth rate achieved was relatively high at 14 percent, leading to a near doubling of revenues over the five year p
Published 07 May, 2019 12:00am
IMF returns
Print

IMF returns

Finally and belatedly an IMF staff mission has arrived in Pakistan. This is after a gap of five months. The last time a mission was here was in November 2018. During the intervening period, there has been considerable vacillation by the government as to w
Published 30 Apr, 2019 12:00am
State of the economy
Markets

State of the economy

Information on many of the key macroeconomic variables has become available up to March 2019 and in some cases up to February 2019. Therefore, the trends in the national economy during the first three quarters of 2018-19 can now be analyzed.
Published 23 Apr, 2019 12:00am
Improving the price indices
Print

Improving the price indices

There has been an upsurge in the rate of inflation to almost a double-digit rate and some controversy over the measurement in the case of gas and electricity prices, in the presence of progressive tariffs. This has motivated the Ministry of Planning, the
Published 16 Apr, 2019 12:00am
Rising inflation
Markets

Rising inflation

The rate of inflation in Pakistan, as measured by the year-to-year change in the Consumer Price Index (CPI), has been rising steadily over the last one year. It stood at 3.2 percent in March 2018. A year later it has, more or less, trebled to 9.4 percent.
Published 09 Apr, 2019 12:00am
The deep and wide slowdown
Markets

The deep and wide slowdown

The economy of Pakistan has experienced a sharp slowdown in its GDP growth rate in four out of the last eighteen years. These were the years 2000-01, 2001-02, 2008-09 and 2009-10. The first two years saw a severe drought which badly affected agriculture,
Published 02 Apr, 2019 12:00am
Extent of 'decent work' in Pakistan
Print

Extent of 'decent work' in Pakistan

The timely release of the findings from the Labour Force Survey of 2017-18 by the Pakistan Bureau of Statistics enables the determination of the extent of decent work in Pakistan. 'Decent work', according to the ILO, represents opportunity for work that i
Published 26 Mar, 2019 12:00am
Slow growth in exports
Markets

Slow growth in exports

The performance of exports in the first eight months of 2018-19 has been disappointing. According to the monthly trade statistics of the PBS the growth rate registered in dollar terms is only 2 percent in comparison with the level achieved in the correspo
Published 19 Mar, 2019 12:00am
External debt exceeds $100 billion
Print

External debt exceeds $100 billion

Pakistan's external debt has crossed $100 billion by the end of January 2019. It now stands at just over $101 billion. The level of external debt was $95.3 billion at the start of the current financial year. In seven months, it has increased by $5.7 billi
Published 12 Mar, 2019 12:00am
The employment Situation
Print

The employment Situation

The findings from the Labor Force Survey (LFS) of 2017-18 have been released recently by the Pakistan Bureau of Statistics (PBS). The last such survey was for 2014-15. There is need to appreciate the speed with which a survey of 43,472 households was unde
Published 05 Mar, 2019 12:00am
Fall in revenues
Print

Fall in revenues

The unprecedented has happened. National revenues, tax plus non-tax, of the Federal and provincial governments combined have actually fallen. They stand at Rs 2335 billion in the first six months of the current financial year. This is a fall of Rs 56 bill
Published 26 Feb, 2019 12:00am
More stagflation
Markets

More stagflation

The last few weeks have witnessed deterioration in the state of the economy. This is the consequence of the lagged impact of a number of steps taken earlier including the big cut in development spending, steep devaluation of the rupee, hike in interest ra
Published 19 Feb, 2019 12:00am
Public expenditure priorities
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Public expenditure priorities

The level of expenditure of the federal and provincial governments combined has been rising continuously. It was at 17 percent of the GDP at the turn of the century. Seventeen years later, in 2017-18, it has approached 22 percent of the GDP.
Published 12 Feb, 2019 12:00am
The 9th NFC
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The 9th NFC

The 9th NFC is scheduled to have its first meeting on the 6th of February. The previous 7th NFC Award was signed and then promulgated on by the President of Pakistan in 2010. As per the provisions of Article 160 of the Constitution the Award was to be val
Published 05 Feb, 2019 12:00am
Appraisal of the 'mini-budget'
Markets

Appraisal of the 'mini-budget'

The article written by me in Business Recorder on Monday 21st of January 2019 had speculated that the primary motive for presentation of the Mini-Budget was to control the burgeoning budget deficit in the on-going fiscal year, 2018-19. The first si
Published 29 Jan, 2019 12:00am
The upcoming ''mini-budget''
Print

The upcoming ''mini-budget''

The Fin-ance Minister has announced that he will be presenting a ''Mini-Budget'' on the 23rd of January, a few days away. In effect, this will be the third Budget presentation in a financial year and has probably never happened before. The process started
Published 21 Jan, 2019 12:00am
The upcoming ''''mini-budget''''
Print

The upcoming ''''mini-budget''''

The Fin-ance Minister has announced that he will be presenting a ''''Mini-Budget'''' on the 23rd of January, a few days away. In effect, this will be the third Budget presentation in a financial year and has probably never happened before. The process sta
Published 21 Jan, 2019 12:00am