AGL 38.31 Decreased By ▼ -0.25 (-0.65%)
AIRLINK 212.61 Increased By ▲ 4.84 (2.33%)
BOP 10.08 Increased By ▲ 0.02 (0.2%)
CNERGY 6.75 Decreased By ▼ -0.33 (-4.66%)
DCL 9.86 Decreased By ▼ -0.13 (-1.3%)
DFML 40.51 Decreased By ▼ -0.63 (-1.53%)
DGKC 102.35 Decreased By ▼ -1.11 (-1.07%)
FCCL 36.15 Decreased By ▼ -0.20 (-0.55%)
FFBL 90.80 Decreased By ▼ -0.79 (-0.86%)
FFL 14.07 Decreased By ▼ -0.53 (-3.63%)
HUBC 136.61 Decreased By ▼ -2.82 (-2.02%)
HUMNL 14.00 Decreased By ▼ -0.10 (-0.71%)
KEL 5.86 Decreased By ▼ -0.11 (-1.84%)
KOSM 7.31 Decreased By ▼ -0.55 (-7%)
MLCF 46.70 Decreased By ▼ -0.58 (-1.23%)
NBP 66.38 Decreased By ▼ -7.38 (-10.01%)
OGDC 220.75 Decreased By ▼ -1.91 (-0.86%)
PAEL 37.99 Decreased By ▼ -0.12 (-0.31%)
PIBTL 9.05 Decreased By ▼ -0.22 (-2.37%)
PPL 204.15 Decreased By ▼ -1.70 (-0.83%)
PRL 39.66 Decreased By ▼ -0.19 (-0.48%)
PTC 26.29 Decreased By ▼ -0.33 (-1.24%)
SEARL 107.00 Decreased By ▼ -3.24 (-2.94%)
TELE 9.13 Decreased By ▼ -0.10 (-1.08%)
TOMCL 37.91 Decreased By ▼ -0.30 (-0.79%)
TPLP 13.60 Decreased By ▼ -0.17 (-1.23%)
TREET 25.90 Decreased By ▼ -0.55 (-2.08%)
TRG 59.80 Decreased By ▼ -0.74 (-1.22%)
UNITY 33.33 Decreased By ▼ -0.81 (-2.37%)
WTL 1.77 Decreased By ▼ -0.11 (-5.85%)
BR100 12,135 Decreased By -164.1 (-1.33%)
BR30 38,115 Decreased By -762.3 (-1.96%)
KSE100 113,394 Decreased By -1466.7 (-1.28%)
KSE30 35,714 Decreased By -481.7 (-1.33%)
Dec 18, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Opinion » Articles

Fiscal mess - straighten the priorities
Articles

Fiscal mess - straighten the priorities

Budget-making is in the process. This one is a tough budget to make. Covid-19 demands stimulus; but the fiscal deficit is already too high. The government is asking for no new taxes and demanding stimulus for industries and vulnerable. The government want
Updated 31 May, 2020 08:04am
The challenge of SOEs
Articles

The challenge of SOEs

The 190 State-Owned Enterprises (SOEs) comprising Public Sector Companies (PSCs), Development Finance Institutions (DFIs) and Authorities, employing a total of over 425,000 personnel, incur a colossal loss of around Rs 500 billion a year. In other words,
Published 30 May, 2020 12:06am
A tale of two horses
Articles

A tale of two horses

Unfortunately, the exact quote, which by the way succinctly brings out the message, cannot be published - blame it on the censor board. Be that as it may, the more refined version comes out thusly: you cannot ride two horses with one behind.
Published 30 May, 2020 12:06am
Global policy post-Covid-19
Articles

Global policy post-Covid-19

There were already discussions gaining momentum since the Global Financial Crisis 2007/08 in many policy corners of economy and politics globally - but still remained far from reaching any meaningful threshold in terms of consequences on three main areas
Updated 13 Jun, 2020 09:49pm
Tripartite social dialogue
Articles

Tripartite social dialogue

According to ILO's definition, Social Dialogue means the practice of Tripartism between governments and the representative organizations of workers and employers to achieving solutions and to building up social cohesion and the rule of law through, among
Published 29 May, 2020 12:05am
Agricultural autarky via atoms
Articles

Agricultural autarky via atoms

What is common between the disinfected mummy of Ramses II, and a well acclimatized shiny spike silver boll of cotton? Nothing much, apparently. But if one scraps the surface a little, one can find both benefitting from radiations in some way.
Published 28 May, 2020 12:03am
Lockdown - A tale of other diseases
Articles

Lockdown - A tale of other diseases

Lock down or die. Lockdown or economy. Lockdown or jobs. Lockdown or lives. These were the debates prevalent. World over and in Pakistan, from experts to individuals, the over whelming discussion was on the necessity of lockdown to defeat a virus that was
Published 28 May, 2020 12:03am
The GDP growth rate
Articles

The GDP growth rate

The Pakistan Bureau of Statistics (PBS) has revealed the final estimate of the GDP growth rate for 2018-19 and the preliminary estimate of the GDP growth rate for 2019-20. This is contrary to the past practice whereby GDP estimates were included in the Pa
Published 27 May, 2020 12:06am
Housing - a fundamental human right
Articles

Housing - a fundamental human right

Article 25 of the Universal Declaration of Human Rights recognizes the right to housing as part of the right to an adequate standard of living. Article 11(1) of the International Covenant on Economic, Social and Cultural Rights (ICESCR) also guarantees th
Published 27 May, 2020 12:06am
Sugar inquiry: Fix the illness not the symptoms
Articles

Sugar inquiry: Fix the illness not the symptoms

The sugar inquiry report did not focus on the structural problems creating the 'economic rents'. Rather the energies are expended on chasing the rentiers. And the media eyes are on personalities. The study dealt with the tactical issues - nothing on fixin
Published 24 May, 2020 12:01am
The final step of your business's journey!
Articles

The final step of your business's journey!

Running a business on any scale requires careful planning and the ability of its managers to capitalize on all opportunities presented, while also finding the best solutions to all the challenges that arise in the business landscape. Every economy in the
Published 24 May, 2020 12:01am
What's up?
Articles

What's up?

WhatsApp is a pun on What's Up, in case you didn't get it yet - actually, that was a sudden but rational guess made whilst dreaming up the title for today's write up; now it is knowledge confirmed from WhatsApp web page. Cool!
Published 23 May, 2020 12:06am
Will Covid-19 deal US malls a mortal blow?
Articles

Will Covid-19 deal US malls a mortal blow?

As they gradually reopen, US shopping malls are requiring masks and implementing social distancing policies in hopes of convincing customers that they can shop safely in the coronavirus era.
Published 23 May, 2020 12:06am
Pakistan's human capital conundrum
Articles

Pakistan's human capital conundrum

In 1986, the Journal of Political Economy (JPE) published a paper ('Increasing returns and long run growth') by a relatively unknown economist. The same person, Paul Romer, got another one published in 1990 ('Endogenous technical change'), which had manag
Published 23 May, 2020 12:06am
Budgets 2020 amid Covid-19 crisis - II: Need for paradigm shift
Articles

Budgets 2020 amid Covid-19 crisis - II: Need for paradigm shift

In the present circumstances, in the forthcoming federal budget, the need for a fair and simple tax system, as elaborate in Towards Flat, Low-rate, Broad and Predictable Taxes [PRIME Institute, 2016] and referred to in PIDE Policy Viewpoint [16:2020] Doin
Published 22 May, 2020 12:03am
A looming debt crisis
Articles

A looming debt crisis

In his article in the New York Times on April 30, 2020, Prime Minister of Ethiopia and the 2019 Nobel Peace Prize winner Abiy Ahmed highlighted the fact that the temporary debt relief provided by G20 group of countries, however a welcome step, it was not
Published 22 May, 2020 12:03am
In the name of the poor
Articles

In the name of the poor

How easily our worldview mutates. How quickly our hierarchy of ambition gets rehashed and reset. All it takes is an invisible microbe.
Published 21 May, 2020 12:09am
Digital transformation in the time of Covid-19
Articles

Digital transformation in the time of Covid-19

Digital and IT transformations are the only way forward. Before the on-going pandemic, technology adoption was the only way ahead and this will not change once the world emerges from this crisis.
Published 21 May, 2020 12:09am
Europe's Franco-German 'motor' sputters back to life
Articles

Europe's Franco-German 'motor' sputters back to life

President Emmanuel Macron and Chancellor Angela Merkel have jump-started the Franco-German "motor" at the heart of Europe by jointly pitching a hugely ambitious economic recovery plan, even if it faces a bumpy road ahead.
Published 21 May, 2020 12:09am
Food security in the age of Covid-19
Articles

Food security in the age of Covid-19

There never was any lockdown in the country's agricultural sector. And from the way the NCC and NCOC have been carrying out, their respective efforts over the last two months at meeting the challenges of Covid-19, it appears that for lack of enough testin
Published 20 May, 2020 12:05am
Economic policy choices beyond immediate crisis - I
Articles

Economic policy choices beyond immediate crisis - I

The economic policy response to the coronavirus crisis by Pakistan has been significant. On the monetary policy side, the State Bank of Pakistan has taken aggressive action to loosen monetary conditions and provide desperately needed liquidity to business
Published 20 May, 2020 12:05am
The forthcoming budget
Articles

The forthcoming budget

The Federal and Provincial Budgets for 2020-21 are expected to be announced in the month of June, starting with the presentation of the Federal Budget on the 5th of June. These budgets come at a time when the economy has been badly hit by the COVID-19 and
Published 19 May, 2020 12:02am
Hedging oil
Articles

Hedging oil

.Oil prices have touched zero and became even negative recently. A debate has ensued in Pakistan that we should have bought cheaper oil. It is a different matter that around the same time, there was news of diesel shortages. Petroleum Division, probably,
Published 19 May, 2020 12:02am
Foreign exchange earnings
Articles

Foreign exchange earnings

Pakistan's foreign exchange reserves on 30 April 2020 as per the State Bank of Pakistan (SBP) website were 12.329 billion dollars, a respectable amount given the ongoing global pandemic that has severely negatively impacted on our exports and is likely to
Published 18 May, 2020 12:06am
Will they...?
Articles

Will they...?

A new phase, a new reality. The virus is there to stay for sometime. Sometime can be spent on being locked down or locked in, but, not for long. Countries are grappling with the reality of the virus being a way of life and that life without a virus will n
Published 18 May, 2020 12:06am
The going gets tougher
Articles

The going gets tougher

As new data comes in, the bitter reality is sinking. The global economic slowdown is expected to be worse than what was earlier expected. There could be further downside risks to global economic growth outlook of minus 3 percent in 2020. No economist in t
Published 17 May, 2020 12:03am
Tobacco industry - Pakistan's Giffen Paradox?
Articles

Tobacco industry - Pakistan's Giffen Paradox?

Many governments around the world keep a close eye on the use of tobacco - mostly used in cigarettes. Many countries increase taxes over time to reduce its consumption - the classic demand theory where increase in price of a commodity decreases its demand
Published 17 May, 2020 12:03am
Diamer-Bhasha dam
Articles

Diamer-Bhasha dam

Finally, the commencement of much-awaited Bhasha dam has been formally announced. Prime Minister Imran Khan last Monday ordered immediate commencement of work on construction of Diamer-Bhasha dam, rightly describing water security as the foremost priority
Published 16 May, 2020 12:07am
The value of life
Articles

The value of life

If you party for four days, strict abstinence for the remaining three days will probably not get you off the hook. In substance, you have a lockdown or you don't - the virus is not going to take "off days" whilst its hosts go on a shopping spree, so this
Published 16 May, 2020 12:07am
Pandemic stirs Wall Street's social conscience
Articles

Pandemic stirs Wall Street's social conscience

Worker welfare is having a moment on Wall Street. The need to restart production lines and reopen offices idled by the coronavirus pandemic mean issues such as sick pay and working conditions are suddenly a top priority for the C-suite and, for some inves
Published 16 May, 2020 12:07am
A post-Covid-19 world
Articles

A post-Covid-19 world

Major wars and pandemics, are the sort of happenings that change the world as we know it before they have happened. The Black Death lead to massive deaths in the Middle Ages, also it broke the back of feudalism and created a working class. On the positive
Published 15 May, 2020 12:05am
The IPPs' curse
Articles

The IPPs' curse

The recent "un-official" release of the Report by the Muhammad Ali Khan Committee on Power Sector has given the scandal hungry predators another target to feast upon. This Report fits right into a certain political and some TV channels' populist narrative
Published 14 May, 2020 12:04am
Taking advantage of RMB to develop Pakistan's economy
Articles

Taking advantage of RMB to develop Pakistan's economy

As the Covid-19 is spreading quickly around the world, its effects on the world economy including that of Pakistan are profound, complex and far-reaching. In order to mitigate the adverse impacts and rescue the nosediving economic growth, almost all count
Published 14 May, 2020 12:04am
Unlocking economic value
Articles

Unlocking economic value

In a speech made to the House of Commons a little more than a century ago, Winston Churchill spoke of the significance of land, "It is quite true that land monopoly is not the only monopoly which exists, but it is by far the greatest of monopolies - it is
Published 14 May, 2020 12:04am
Budgeting for a life with Covid-19
Articles

Budgeting for a life with Covid-19

Two of the major burdens on the forthcoming federal budget are likely to be relatively lighter compared to what successive budgets had to bear under these heads over the last many decades. The first is the foreign debt, part of which, thanks to Covid-19,
Published 13 May, 2020 12:07am
Impending cotton disaster
Articles

Impending cotton disaster

Availability of high-quality cotton is fundamental to the textile value chain which for Pakistan, is responsible for the influx of billions of dollars in the form of exports. In this respect, it earns the befitting title of "White Gold". Cotton makes mark
Published 13 May, 2020 12:07am
Oceans play profound role in our lives
Articles

Oceans play profound role in our lives

Memories of idyllic beaches and sonorous waves may seem far away while we remain at home. Yet, we need not look far to appreciate the enduring history of the ocean in Asia and the Pacific. For generations, the region has thrived on our seas. Our namesake
Published 13 May, 2020 12:07am
Consumers taken for a ride?
Articles

Consumers taken for a ride?

In January 2020, The Competition Commission of Pakistan ("the Commission") approved the acquisition of Careem by Uber, transforming the duopolistic market of application-based ridesharing services into a monopolistic market. The Commission was established
Published 12 May, 2020 12:06am
Emerging trends
Articles

Emerging trends

The key macroeconomic variables of the national economy are beginning to show sharply divergent trends from those observed earlier since June 2019. This includes developments in the real economy, monetary sector, inflation, public finances and the balance
Published 12 May, 2020 12:06am
Soviet role in WWII
Articles

Soviet role in WWII

Rising coronavirus infections forced Russia on May 9, 2020 to curtail its celebrations marking the 75th anniversary of the victory over Nazi Germany. Russia usually holds grand military parades to commemorate the event. This year's 75th anniversary was pl
Published 12 May, 2020 12:06am
Covid-19: Impact on oil sector
Articles

Covid-19: Impact on oil sector

Recent key developments in Pakistan's oil sector underscore that there is always a need for the country to maintain its strategic oil reserves.
Published 12 May, 2020 12:06am
Eighteenth Amendment: Why has it become controversial?
Articles

Eighteenth Amendment: Why has it become controversial?

Asif Ali Zardari as President signed two documents much appreciated at the time that have become the subject matter of intense politicking in recent months notably the seventh National Finance Commission (NFC) award and the eighteenth constitutional amend
Published 11 May, 2020 12:04am
Challenging the leadership mettle
Articles

Challenging the leadership mettle

Tough situations do not last, tough leaders do. In case of coronavirus crisis the tough situation seems to last indefinitely. That is why the bigger challenge, with the threat of Corona lurking around is what can leaders do to save people's lives, livelih
Published 11 May, 2020 12:04am
Attempting to demystify mafia
Articles

Attempting to demystify mafia

I only write this article because the most overused term on the media of Pakistan is the word 'Mafia'. Sheikh Rashid, the Nostradamus of Pakistan, starts and ends his interviews with this word. The citizens of this hapless country have been overexposed to
Published 11 May, 2020 12:04am
To lockdown or not? an economic perspective
Articles

To lockdown or not? an economic perspective

The handling and effectiveness of the lockdown depends on the healthcare system and testing capacity of the country, which has unfortunately been plagued by confusion amidst a debate, or rather indecisiveness as to whether we must lockdown the country or
Published 10 May, 2020 12:02am
GDP estimates: Between a rock and a hard place
Articles

GDP estimates: Between a rock and a hard place

Provincial GDP figures for 2019-20 will be announced. The official number is likely to remain in the range of negative 0.6 percent to 0.7 percent. The IMF projection is of negative 1.5 percent, and SBP's latest estimation is similar. This could be the fir
Updated 10 May, 2020 06:00am
The failure of Pakistan's power policies
Articles

The failure of Pakistan's power policies

The recently released report on IPPs by a government sanctioned commission brought not only the power producers into the limelight, but also the design of the previous power policies. While the final verdict on the report is still awaited, especially give
Published 10 May, 2020 12:02am
Partly Facetious: The corona challenge
Articles

Partly Facetious: The corona challenge

"Low income countries must ensure that Covid-19 containment strategies include the poor continuing to earn a living and access food. So in other words, these countries must ensure that some sectors remain open for the daily wage earners who in Pakistan ar
Published 09 May, 2020 12:06am
Formal and non-formal education
Articles

Formal and non-formal education

The World Bank is reported to have stated that it will assist Pakistan in developing a new model of non-formal education which, it said, would combine literacy, labour market skills and life skills development for uneducated and illiterate children, youth
Published 09 May, 2020 12:06am
Free market tanks
Articles

Free market tanks

"A quarter of French adults smoke. Many people were surprised, therefore, when researchers reported late in April that only 5% of 482 Covid-19 patients who came to the Pitié-Salpêtrière hospital in Paris between February 28th and April 9th were daily smok
Published 09 May, 2020 12:06am
Back to school? Officials move warily as challenges loom
Articles

Back to school? Officials move warily as challenges loom

Authorities worldwide face the formidable challenge of returning millions of children to classrooms shut due to the coronavirus outbreak, weighing the need to limit the educational damage against the risks of fuelling a surge in new cases.
Published 09 May, 2020 12:06am
Biden allies told to attack Trump's stimulus as 'cronyism'
Articles

Biden allies told to attack Trump's stimulus as 'cronyism'

Allies of presumptive Democratic presidential nominee Joe Biden are being told to sharpen attacks on President Donald Trump's stimulus efforts as thinly veiled "cronyism," according to a memo being sent to Democratic officeholders and supporters on Friday
Published 09 May, 2020 12:06am
FBR: audit closure, capacity & legality
Articles

FBR: audit closure, capacity & legality

According to a Press report, the government of Pakistan Tehreek-i-Insaf (PTI) "has quietly closed over 310,000 tax audit cases that had been automatically selected from 2015 to 2017 due to the failure of taxpayers to timely file tax returns and pay due ta
Published 08 May, 2020 12:05am
Covid-19 and 'Green New Deal' - II
Articles

Covid-19 and 'Green New Deal' - II

The developing countries are not doing much different from the rest. There is no discussion to plan even reform and support packages that bail workers out on a large scale, and not the big businesses; a reform plan that revisits the economic model towards
Published 08 May, 2020 12:05am
From zero to hero: physical oil rally might be short-lived
Articles

From zero to hero: physical oil rally might be short-lived

From Kazakhstan to the North Sea and the United States, physical crude has jumped in value in recent days but the rally will likely be tactical and short-lived rather than signalling a proper recovery, according to traders and analysts.
Published 08 May, 2020 12:05am
The politics of employment
Articles

The politics of employment

Robust macroeconomic fundamentals lead to one ultimate goal: jobs. At least that is the theory. You go through the hoops of fiscal consolidation, current account balance, debt sustainability, and manageable inflation to get to sustained economic growth, t
Published 07 May, 2020 12:02am
Economy in a federal framework
Articles

Economy in a federal framework

When a federal state tries to manage its economy using a centrist financial system the result would certainly be no better than what Pakistan had experienced during its first 63 years leading to 2010 when the 7th National Finance Commission (NFC) Award wa
Published 06 May, 2020 12:04am
Covid-19 has killed the IMF backlash?
Articles

Covid-19 has killed the IMF backlash?

Just as Covid-19 may have killed the tech backlash (as reported in The Economist), it may have also killed the IMF backlash (on-going since August'19) in this country. The politicians, media, gurus, businessman and speculators are heaving a sigh of relief
Published 06 May, 2020 12:04am
IMF's optimism
Articles

IMF's optimism

Pakistan has been able to get access recently to the IMF's Rapid Financing Facility in light of the adverse impact of the Covid-19 on the 'lives and livelihoods' of the people in the country. This quick support from the IMF must be appreciated. The amount
Published 05 May, 2020 12:06am
Lives versus livelihoods
Articles

Lives versus livelihoods

The great dilemma for all governments in the thick of the COVID-19 pandemic is how to balance lives versus livelihoods. This dilemma is particularly acute for countries such as Pakistan, where the absence of universal healthcare and a social security syst
Published 05 May, 2020 12:06am
How commoners can cope with price hike
Articles

How commoners can cope with price hike

Even thinking or talking of any remedies how to grapple with the spiraling and uncontrollable price hike is a very tough ask, what to talk of actually implementing fanciful ideas and solutions for the rocketing prices indeed! While inflation is round-the-
Published 05 May, 2020 12:06am
Whither the budget deficit
Articles

Whither the budget deficit

There was intense speculation on the government's ability to meet the budget deficit target of 7.2 percent for the current fiscal year, the same as projected for 2018-19, agreed with the International Monetary Fund (IMF) even before the rampage wrought on
Published 04 May, 2020 12:07am
Humanity on profound trial
Articles

Humanity on profound trial

"Human Kind" and "Gentlemen" had become obsolete words in Pre-Corona era. Human beings were neither kind nor men / women were gentle to each other or to their habitat. The consequences of this cruelty and unkindness have never been more exposed as in the
Published 04 May, 2020 12:07am
Swiss soldiers fight Covid-19 armed with Bluetooth app
Articles

Swiss soldiers fight Covid-19 armed with Bluetooth app

Swiss army conscripts are taking the fight to the coronavirus pandemic by field-testing a Bluetooth-based smartphone app aimed at stopping a resurgence of COVID-19. The rapidly-created app traces people who have inadvertently crossed paths with someone in
Published 04 May, 2020 12:07am
Shrinking banking spreads
Articles

Shrinking banking spreads

It's a known fact that banks in Pakistan are not doing their supposed financial intermediation business of routing savings of large pool to lending businesses and consumers. In the developed world, big corporates and governments do not really rely on bank
Published 03 May, 2020 12:05am
Covid-19: A call for regional cooperation
Articles

Covid-19: A call for regional cooperation

As of April 30th, 2020 the total cases affected with Covid-19 in South Asian region were 58,854 - a mere 1.8% of the global toll of 3,220,970 - despite the fact that South Asia has a 25% share in world's population. Infection fatality ratio of South Asia
Published 03 May, 2020 12:05am
Report on IPPs
Articles

Report on IPPs

The report on the conduct of IPPs has indeed triggered extensive criticism on the profits made by Independent Power Producers (IPPs) in the last four decades and witnessed an extensive media bashing of IPPs on their conduct with an equally-hyped condemnat
Published 02 May, 2020 12:08am
Nine lives
Articles

Nine lives

Ramazan Mubarak, Dear Readers. As the nation continues to battle it out with the coronavirus, the experts warn that the Virus War will be entering a critical phase by the time this article is published. May Allah SWT protect our nation and give strength a
Published 02 May, 2020 12:08am
Crew of 'clean' US warship in coronavirus limbo
Articles

Crew of 'clean' US warship in coronavirus limbo

On any given day, the U.S. aircraft carrier Harry S. Truman can be found off the Atlantic coast of the United States, probably somewhere between Virginia and Florida. Its crew would love to come home to their families. But they can't. They're just too val
Published 02 May, 2020 12:08am
Covid-19: economic & tax reliefs
Articles

Covid-19: economic & tax reliefs

Pakistan is facing the brunt of Coronavirus outbreak as the country is in a partial lock down. This has had a negative impact on businesses. Initial estimates show that the economy will witness sluggish growth in services, manufacturing and agriculture se
Published 01 May, 2020 12:54am
Covid-19 and 'Green New Deal' - I
Articles

Covid-19 and 'Green New Deal' - I

The multiple failings of neoliberal agenda since its beginnings in the late 1970s - manifested in economic policies, including those of structural adjustment programmes by multilateral institutions like International Monetary Fund (IMF) and backed by mani
Published 01 May, 2020 12:54am
Sugar scandal: Who is the real culprit?
Articles

Sugar scandal: Who is the real culprit?

Yet another scandal, and yet another burst of public outcry. Financial scams now seem to be part and parcel of our governance. However, the most surprising aspect about the recent revelations contained in the FIA report is that it's a surprise at all! The
Published 30 Apr, 2020 12:07am
Budget-making in a pandemic
Articles

Budget-making in a pandemic

Pakistan's economy which was already in the intensive care unit (ICU), has since February this year gone into a tailspin deepening further the on-going recession induced earlier by an IMF- driven austerity program launched in April last year.
Published 28 Apr, 2020 11:42pm
A spring in the town
Articles

A spring in the town

The doctrine of separation of powers, having its origin in the classic work of Montesquieu's Spirit of Laws, and articulated into a constitutional principle, to safeguard liberties from the Government, in the US constitution, has no textual basis in our c
Published 28 Apr, 2020 11:42pm
Social and economic trends
Articles

Social and economic trends

The Pakistan Bureau of Statistics (PBS) has recently released the key findings from two major surveys - the Pakistan Social and Living Standards Measurement Survey (PSLSMS) and the Household Integrated Economic Survey (HIES) - of 2018-19. These efforts at
Published 28 Apr, 2020 12:54am
The coronavirus pandemic, clerics, and terrorism
Articles

The coronavirus pandemic, clerics, and terrorism

The whole ongoing kerfuffle about how to combat the coronavirus pandemic is not unique to Pakistan. Even the developed world is groping its way through the fog of incomprehension, misconception and feeble, halting measures. In Pakistan, the Pakistan Tehre
Published 28 Apr, 2020 12:54am
Critical appraisal of SBP report
Articles

Critical appraisal of SBP report

The State Bank of Pakistan's (SBP) report for the first half of the current financial year reiterated its unconditional support for the International Monetary Fund (IMF) programme conditions - a pledge restated in the one-page Monetary Policy Committee st
Published 27 Apr, 2020 02:51am
Mind your distance
Articles

Mind your distance

Man is a social animal. Social isolation causes depression. Human interaction can never be replaced with machine interaction. Facebook can never substitute face to face. Virtual is not real. Human touch cannot to be compared with touch screen. And so on a
Published 27 Apr, 2020 02:51am
Is the cement 'cartel' back?
Articles

Is the cement 'cartel' back?

It is widely argued that historically cement cartel existed in Pakistan. It appears that the 'cartel' is back. Last week, reportedly, there was a meeting of cement companies to jack up prices in North. Some say that how can a cartel persist with around tw
Published 25 Apr, 2020 09:49pm
Implementation of consumer laws big challenge
Articles

Implementation of consumer laws big challenge

There is a famous Latin term 'Caveat venditor' which means 'let the seller beware'. This phrase is in stark contrast with the widely known and used contractual phrase 'Caveat emptor' that solely puts the burden of quality and suitability of the goods befo
Published 25 Apr, 2020 09:49pm
Does sunlight rapidly destroy the coronavirus?
Articles

Does sunlight rapidly destroy the coronavirus?

Does sunlight rapidly destroy the coronavirus? A White House presentation on a mysterious government study says so - but some scientists have called for caution as we await more evidence.
Published 25 Apr, 2020 09:49pm
Power sector: What went wrong?
Articles

Power sector: What went wrong?

It was way back in 1958 that Wapda was established in Lahore to electrify the rural and urban areas, stretching from one end of the country to the other, except Karachi which was electrified by Karachi Electric Supply Company (KESC) - the first IPP in the
Published 25 Apr, 2020 06:43am
Free cheese in a mouse trap
Articles

Free cheese in a mouse trap

Sitting down to write this week's column, I am rather confused; are we or are we not in a lockdown. Whilst the Islamabad city administration has been performing admirably in an extremely challenging time, the current extension order is a complicated, if n
Published 25 Apr, 2020 06:43am
Unprecedented global oil market turmoil and Pakistan
Articles

Unprecedented global oil market turmoil and Pakistan

Global lockdowns have resulted in a drastic reduction in oil demand. A long and painful deliberative process to cut the global supply of oil by OPEC+ group of major oil exporting countries, each vying for greater oil revenues and lesser proportion of cutt
Published 24 Apr, 2020 02:52am
A simple tax bailout
Articles

A simple tax bailout

As mentioned in the last column [Tax bailout for economic revival, Business Recorder, April 17, 2020], all businesses-badly hit by lockdown in the wake of Covid-19 epidemic and due to sluggish economic activities, high utility bills and markup rate-are de
Published 24 Apr, 2020 02:52am
Your weekly columnist: an endangered species?
Articles

Your weekly columnist: an endangered species?

Once upon a time there was news; compact and closely orchestrated by the Ministry of Information and Broadcasting. Fake news was unheard of; just plain vanilla dispensed by the government. The newspapers read like compendia of badly drafted government han
Published 23 Apr, 2020 02:53am
Lives versus livelihoods?
Articles

Lives versus livelihoods?

Nobody would have ever thought to face a terrible trade-off, like we, to either baldly damage our livelihoods through prolonged lockdowns, or to sacrifice the lives of thousands, if not millions, to this pandemic COVID-19.This article is an attempt to eva
Published 23 Apr, 2020 02:53am
Bringing state back into public service
Articles

Bringing state back into public service

All these years it has been the working classes of the world who have been carrying on their fragile shoulders the ever mounting load of opulence of the rich. But the slowdown of the wheels of the national economies following lockdowns of varying degrees
Published 22 Apr, 2020 02:52am
IPP enquiry report
Articles

IPP enquiry report

The IPP enquiry report has surfaced after equally contentious Wheat and Sugar report. It is a good omen that questions are being asked and the system is not afraid of the powerful. Irrespective of the outcome, the transparency and fearlessness of the GoP
Published 22 Apr, 2020 02:52am
Provincial impact of coronavirus
Articles

Provincial impact of coronavirus

All parts of Pakistan have been hit by the Corona Virus. The pandemic continues to spread rapidly and the, more or less, partial lockdown persists throughout the country. Already, the negative economic consequences are becoming visible. The federal and th
Published 21 Apr, 2020 03:03am
Healthcare, social security systems needed
Articles

Healthcare, social security systems needed

With all its tragedies, unprecedented complexities and uncertainties, the coronavirus pandemic should focus minds on the inadequacies in our healthcare and social security systems that need rectification at the earliest. Consider.
Published 21 Apr, 2020 03:03am
Certainties in uncertain times
Articles

Certainties in uncertain times

Firefighting. Trapped. Blind Alley. Emotionally exhausted. Mentally fatigued. Search overload. Day-to-day. These are some of the feelings expressed by people who are going through life in the time of Covid-19. With a world shut down as never before this s
Published 20 Apr, 2020 12:00am
Challenge of conflict of interest in sugar industry and PM
Articles

Challenge of conflict of interest in sugar industry and PM

With the inquiry report on sugar price hike has landed the next challenge for PM Imran Khan; taking action against those benefitting from the sugar exports and price hike saga. Imran Khan while taking credit of making the investigation report public as it
Published 20 Apr, 2020 12:00am
Policy rate cut
Articles

Policy rate cut

The Monetary Policy Committee (MPC) met for the third time in less than one month on 16 April 2020 and reduced the rate to 9 percent - from 13.25 percent effective 20 July to 16 March, 12 .5 percent from 17 March to 23 March and 11 percent effective 24 Ma
Published 20 Apr, 2020 12:00am
Ali Suleman Habib remembered
Articles

Ali Suleman Habib remembered

I remember the succinct and focused advice Ali sule gave me in one of my very first presentations to Habib family about the possible vision and direction of Habib University. After I finished laying the case for creating a new university in Karachi, Ali h
Published 19 Apr, 2020 12:00am
Time to negotiate IPP contracts
Articles

Time to negotiate IPP contracts

The report on Power Sector by M. Ali and team touched the IPPs where it hurts the most. The reaction of Independent Power Producer Association (IPPA) and a letter by the sitting Petroleum Advisor to PM (who is a shareholder in an IPP and ex-chairman IPPA)
Published 19 Apr, 2020 12:00am
Covid-19 crisis - Philanthropy's response in Pakistan
Articles

Covid-19 crisis - Philanthropy's response in Pakistan

The Covid-19 has confronted the world with a new and emerging challenge whose complete scale and magnitude are yet to be properly understood and established. The Federal and provincial governments have taken a number of measures to further counter the spr
Published 19 Apr, 2020 12:00am
IPPs in the dock?
Articles

IPPs in the dock?

PM Imran Khan vowed in the midst of recent sugar, wheat and other commodities shortage and hoarding crisis that he would not spare the cartels and hoarders and take them to task.
Published 18 Apr, 2020 12:00am
Revenge of the fallen
Articles

Revenge of the fallen

As the country gets ravaged by the Virus Wars, with the situation getting worse day by day, let us start once again with a prayer that Allah SWT alleviates the hardship of our beloved nation soon.
Published 18 Apr, 2020 12:00am
Fast-fashion nightmare for Bangladeshi clothes makers
Articles

Fast-fashion nightmare for Bangladeshi clothes makers

One day Parvin was toiling to meet the fast-fashion demands of European capitals, the next she was among hundreds of thousands of Bangladeshi clothes workers made instantly jobless as the coronavirus pandemic struck.
Published 18 Apr, 2020 12:00am
Tax bailout for economic revival
Articles

Tax bailout for economic revival

According to various Press reports, all businesses in Pakistan, as elsewhere, badly hit by lockdown in the wake of Covid-19 epidemic, are demanding a comprehensive tax bailout claiming that loan facility announced by State Bank of Pakistan (SBP) to pay sa
Published 17 Apr, 2020 12:00am
Global economic prospects under Covid-19 crisis
Articles

Global economic prospects under Covid-19 crisis

Covid-19 has badly exposed the lack of interdisciplinary approach of mainstream economics - the theoretical basis for widely practiced economic policy, both at the level of most countries and multilateral institutions - whereby, as a result, the economic
Published 17 Apr, 2020 12:00am
In Britain, virus hits ethnic minorities hardest
Articles

In Britain, virus hits ethnic minorities hardest

When Amer Awan's father died of coronavirus, mourners congregated with little thought of social distancing. But cultural practices alone do not explain why Britain's ethnic minorities have been hardest hit by the outbreak.
Published 17 Apr, 2020 12:00am
The growing costs of indecisiveness
Articles

The growing costs of indecisiveness

Would it be stating the obvious to say the fear of economic losses is hand-wrestling with the fear of losing lives? The see-saw of living and making a living is leaving us paralysed? As Ezra Klien quipped, it is hard to decide which is scarier: conversati
Published 16 Apr, 2020 12:00am
World's reset button has been firmly pressed
Articles

World's reset button has been firmly pressed

The World, as we knew it, has changed. The global pandemic of the new coronavirus (COVID-19) is a major paradigm shift in all spheres of human activity - from economic to political to societal. Regardless of whether this passes relatively quickly or linge
Published 16 Apr, 2020 12:00am
Angry Trump denies plan to axe Dr Fauci
Articles

Angry Trump denies plan to axe Dr Fauci

A furious, aggrieved President Donald Trump dismissed rumors Monday that he was going to fire his top medical advisor on the coronavirus pandemic but launched new fights with the Democrats and the media ahead of the high-stakes reopening of the shuttered
Published 16 Apr, 2020 12:00am
Costliest war, ever
Articles

Costliest war, ever

The Covid-19 has proved to be a great leveler. The pandemic does not discriminate between the rich and the poor, mighty and the weak, left and right, between religious and ethnic divides, between the erudite and the ignorant and; it is totally blind to th
Published 15 Apr, 2020 12:00am
Flawed power sector strategy
Articles

Flawed power sector strategy

The government is focusing on wrong policy initiatives due to which the circular debt is ever increasing. In fact the recoveries of past years have been shown as increased collection when the regulator adjusted and allowed prior year adjustments in the di
Published 15 Apr, 2020 12:00am
The real pandemic - fake news
Articles

The real pandemic - fake news

As the COVID-19 pandemic rages, lets inject a dose of reality into it. So far, only 1 lakh deaths. Last year, there were 1.5 million deaths in the USA through automobile accidents alone. Worldwide, 3 million traffic-related deaths. Opioids (in various for
Published 15 Apr, 2020 12:00am
Revisiting economic impact of coronavirus
Articles

Revisiting economic impact of coronavirus

In an earlier article on the subject carried by the Business Recorder on 30th March we dwelt on the economic impact of the Coronavirus on Pakistan's economy consequential to the disruption of normal economic activities.
Published 14 Apr, 2020 12:00am
There's a silver lining even in Covid-19 disaster
Articles

There's a silver lining even in Covid-19 disaster

Pakistan has the silver lining of being down the line of domino of countries affected by the health and economic fallout the virus has had on the world so far. This gives corporate Pakistan with the advantage of learning from businesses and economy lockd
Published 14 Apr, 2020 12:00am
Sugar under greater focus
Articles

Sugar under greater focus

While the poor and the vulnerable continue to grapple with the serious implications of the Coronavirus that has compromised their ability to feed their families prompting the government to disburse cash to meet their daily needs the media and peoples' rep
Published 13 Apr, 2020 12:00am
A silver lining in the Covid-19 clouds
Articles

A silver lining in the Covid-19 clouds

Clouds obscure the sun. The horizon becomes grey and dark. It seems all ominous. However, rays of sunlight do break through eventually to make the world seem brighter. While Covid-19 has darkened the lights and sounds of the hustling bustling world, it ha
Published 13 Apr, 2020 12:00am
Oil prices, virus, instability put Algeria on edge
Articles

Oil prices, virus, instability put Algeria on edge

Algeria faces economic and social turmoil if crude prices continue to collapse, experts have warned, with the oil-dependent country reeling from a year of popular protests, political turmoil and now, coronavirus.
Published 13 Apr, 2020 12:00am
Lockdown dilemma
Articles

Lockdown dilemma

We live in a guess world. It's a health crisis and there is no scientific study to tell when the COVID spread is going to be over. In countries like Pakistan, the situation is even worse where testing is limited and unknown is bigger. Therefore, it is har
Published 12 Apr, 2020 12:00am
Drowned out by pandemic, a muted victory for Joe Biden
Articles

Drowned out by pandemic, a muted victory for Joe Biden

Barack Obama celebrated the kickoff of his "historic" White House challenge before thousands of ecstatic supporters. Hillary Clinton also marked her "milestone," as the first woman nominee of a major US party, to thunderous applause.
Published 12 Apr, 2020 12:00am
Virus appears to strike men, overweight people harder
Articles

Virus appears to strike men, overweight people harder

In the emergency rooms of virus hotspots around the world, medical staff are seeing a greater number of men than women suffering severe symptoms of COVID-19, with obesity emerging as another potentially aggravating factor. But experts are still unsure why
Published 11 Apr, 2020 12:00am
Partly Facetious: A scientific approach?
Articles

Partly Facetious: A scientific approach?

"The Khan administration, I will have ye all of little faith know, is assessing the on-the-ground situation every day before tweaking if required its strategy on a daily basis on how to deal with the Coronavirus..."
Published 11 Apr, 2020 12:00am
The right incentives
Articles

The right incentives

Nowadays, sitting down to write a column, the beginning inevitably is a prayer that by the time it gets published we have won the Virus Wars; a developing country like Pakistan cannot withstand any kind of war for long. And we are probably reaching our li
Published 11 Apr, 2020 12:00am
Economic crisis in developing countries: some solutions
Articles

Economic crisis in developing countries: some solutions

While the developed countries are feeling the heat in terms of meeting public-health needs with regard to COVID-19, the developing countries were a lot less prepared for the pandemic. With narrow social safety net programmes, both in terms of coverage and
Published 10 Apr, 2020 12:00am
Self-isolated reflections: export prospects
Articles

Self-isolated reflections: export prospects

Several years ago a zealous head of Export Promotion Bureau (EPB) decided to emblazon all EPB ads with the logo "Export or perish". His boss, the Commerce Secretary, thought that was going over the top and the logo was withdrawn.
Published 09 Apr, 2020 12:00am
Corona, faith and science
Articles

Corona, faith and science

The spread of a virus named Covid-19 in this age of mass and fast communication has apparently brought faith(s) and science face to face. People of science do not believe in miracles or spiritual healing. In their world, the law of cause and effect govern
Published 09 Apr, 2020 12:00am
Stayhome Gulf influencers take the glamour factor indoors
Articles

Stayhome Gulf influencers take the glamour factor indoors

From extravagant trips to the Amalfi Coast and sunset photoshoots on Dubai's beaches to an almost complete lockdown - the coronavirus has forced the Gulf's social media "influencers" indoors but hasn't lowered their glamour factor.
Published 09 Apr, 2020 12:00am
A self-sufficient economic model
Articles

A self-sufficient economic model

It is time to strike a strategic balance between public and economic health for the maximum economic good of masses at large, especially the have-nots. As such, while extreme physical austerity needs to be observed in social interactions, we do need a non
Published 08 Apr, 2020 12:00am
Gender, security and development - II
Articles

Gender, security and development - II

Many African and Latin American states have faced these crises. Presently, the Indian policies of repression in Jammu and Kashmir are a vivid example of women torture, rape and widowhood. The whole family structure is suffering behind Indian policies of r
Published 08 Apr, 2020 12:00am
Targeting the poor and vulnerable
Articles

Targeting the poor and vulnerable

The Coronavirus is going to have an adverse impact on the living standard of millions of families in Pakistan. Households which are already poor will suffer further deprivation. As the GDP growth rate plummets and actually falls in absolute magnitude, the
Published 07 Apr, 2020 12:00am
Beaten all ends up: Humanity dumbfounded against coronavirus
Articles

Beaten all ends up: Humanity dumbfounded against coronavirus

It seems that the entire world has come to a standstill with uncertainty and fear ruling the roost. Even a light sneeze is enough to cause panic among people, who have never seen such times before ever, and it does seem as if we have come to the end of ti
Published 07 Apr, 2020 12:00am
Spending without due process not advised
Articles

Spending without due process not advised

Primary deficit of 0.6 percent with singular lack of focus on the fiscal deficit (7.2 percent was set as the target for 2019-20 - identical to what the authorities erroneously claimed was the projected deficit for 2018-19) was an International Monetary Fu
Published 06 Apr, 2020 12:00am
Stock values vs human values
Articles

Stock values vs human values

Dow Jones is down. Nasdaq is nose-diving. PSX is declining. Stock values are crashing. The world is talking about recession, deficits and bankruptcies. Since it is an invisible virus, and thus a natural calamity, most people feel nobody could have foresee
Published 06 Apr, 2020 12:00am
Construction package: cautious optimism
Articles

Construction package: cautious optimism

Building housing was one of the main pillars of PTI's 100-day agenda. This push was earlier seen in previous two governments (PMLN's and PPP's) but which died down in the respective regimes' very first year. The efforts were fizzling out during the curren
Published 05 Apr, 2020 12:00am
Formidable challenge
Articles

Formidable challenge

Coronavirus has severely impacted the human lives and the economies the world over in a profound manner. The trauma of loss of human lives will be followed by loss of jobs, food shortages and depleted health facilities - just to name a few of them.
Published 04 Apr, 2020 12:00am
Time to rise
Articles

Time to rise

That the country is on economic roller coaster is perhaps an understatement.
Published 04 Apr, 2020 12:00am
Covid-19 pandemic, leadership & apathy
Articles

Covid-19 pandemic, leadership & apathy

In a country of about 210 million people, about 10,000 individuals, prominent in business or profession or holding key positions in state institutions, think they know each and everything and can fix the multiple and complex problems faced by Pakistan, ei
Published 03 Apr, 2020 12:00am
Coronavirus and economic policy
Articles

Coronavirus and economic policy

First of all it makes sense to realize that the COVID-19 just did not hit the world from out of the blue. In fact, according to a research article 'Coronavirus: a paradigm of new emerging zoonotic diseases' which was recently published in February 2020, i
Updated 03 Apr, 2020 09:22am
The good go early
Articles

The good go early

The world was fixated with Coronavirus, computing human and economic losses. For Mansoor Hassan Siddiqui summons from the Almighty came in a different form: a weird gas explosion at home. He was rushed to PIMS and the Doctors there did all they could but
Updated 27 Nov, 2022 07:11pm
When challenges offer opportunities - II
Articles

When challenges offer opportunities - II

The PTI government, compelled to borrow more at high interest rate, does not know that billions are lying unpaid with industrial undertakings/employers. Thus the issue is not that of funds but getting due taxes/levies from the wealthy and tax evaders and
Published 02 Apr, 2020 12:00am
Public health vs economic health
Articles

Public health vs economic health

Focusing exclusively on public health rather than trying to strike a balance between human and economic health, China seems to have succeeded by March 15, in preventing, to a large extent, Covid-19 spreading exponentially in the mainland since it first st
Published 01 Apr, 2020 12:00am
Discount rate at 11 percent - is that enough? - II
Articles

Discount rate at 11 percent - is that enough? - II

The reported claim by the SBP Governor and Dr Hafeez Sheikh that the main selling point for a high discount rate is its linkage to the rate payable by the National Savings Centres (NSCs) to domestic savers (widows and pensioners) is also challengeable. Tr
Published 01 Apr, 2020 12:00am
Coronavirus: Economic impact and relief package
Articles

Coronavirus: Economic impact and relief package

The Coronavirus has already spread to 199 countries. The worst hit countries have been the EU countries, the US, China and Iran. The consequences are that normal economic activity, both in the domestic economy of these countries and their external economi
Published 31 Mar, 2020 12:00am
Origins and challenges of coronavirus pandemic
Articles

Origins and challenges of coronavirus pandemic

The current COVID-19 illness gripping the world is caused by the coronavirus SARS-CoV-2, the second severe acute respiratory syndrome virus to emerge since 2002. As a result of its rapid spread, whole cities, regions, even countries are in lockdown, with
Published 31 Mar, 2020 12:00am