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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
Discount rate at 11pc - is that enough? - I
Articles

Discount rate at 11pc - is that enough? - I

The Monetary Policy Committee (MPC) meeting chaired by Governor State Bank of Pakistan (SBP) Dr Reza Baqir held on 17 March 2020 decided to reduce the discount rate by 75 basis points drawing the ire of industrialists and economists alike who cited the ne
Published 30 Mar, 2020 12:00am
Coronavirus war - the mental battle
Articles

Coronavirus war - the mental battle

The mind hates uncertainty. The mind dislikes lack of clarity. Uncertainty and un- clarity create fear of the unknown. Fear creates anxiety and anxiety corrodes positivity, creativity and growth. The biological battle of fighting the virus is in full swin
Published 30 Mar, 2020 12:00am
'Corona' realities
Articles

'Corona' realities

The world seems to be changing permanently. COVID-19 is bigger than 9/11 or 2008 global financial crisis. World living population hasn't seen such a catastrophe. It is a health crisis and has long-lasting physiological and economic implications. Global fi
Published 29 Mar, 2020 12:00am
Hot money and high interest rates: trade-offs?
Articles

Hot money and high interest rates: trade-offs?

Since the beginning of March'20, Pakistan's economy witnessed three economic disturbances and one expected policy revision: a) net outflow of US$ 1.3 billion from treasury bills (dubbed as 'hot money') out of the total inflow of US$ 3.43 billion inflow of
Published 29 Mar, 2020 12:00am
Opportunities for Pakistan
Articles

Opportunities for Pakistan

International Monetary Fund (IMF) President Kristalina Georgieva warned this week that she expects a global recession this year due to the Coronavirus (Covid-19) outbreak. In a statement released by her office in Washington, the IMF chief said that since
Published 28 Mar, 2020 12:00am
Calamity
Articles

Calamity

Praying that by the time this article gets published, miraculously, the world has found a cure for the corona virus, and/or Pakistan has been able to control the epidemic.
Published 28 Mar, 2020 12:00am
COVID-19 and bankers
Articles

COVID-19 and bankers

The world still hasn't quite come to terms with the outbreak of COVID-19. World governments have made extensive preparations, implementing total lockdowns and encouraging people to practice social distancing to curb the spread of the virus. As major organ
Published 28 Mar, 2020 12:00am
Coronavirus and debt relief
Articles

Coronavirus and debt relief

The Managing Director (MD) of the International Monetary Fund (IMF), Kristalina Georgieva, recently made a statement in the meeting G20 finance ministers and central bank governors, in which she highlighted the severe impact of the virus in terms of human
Published 27 Mar, 2020 12:00am
Exports in the time of coronavirus
Articles

Exports in the time of coronavirus

While we can't quite decide if we are too worried about coronavirus or not worried enough, the Government knows which way Exports are heading. Adviser Commerce, who last month was celebrating that month's growth numbers, is now projecting negative growth.
Published 26 Mar, 2020 12:00am
Need for all-out reforms - II
Articles

Need for all-out reforms - II

The main aim of judicial reforms should be elimination of unnecessary litigation and facilitating smooth running of affairs between the State and its citizens. Once both learn to act within the four corners of law, there would be drastic reduction in liti
Published 26 Mar, 2020 12:00am
Coronavirus redraws battle lines on airline emissions
Articles

Coronavirus redraws battle lines on airline emissions

European airlines crippled by the coronavirus have demanded lasting relief from environmental taxes - in a move that pits their immediate survival against longer-term emissions goals. The looming tax tussle underscores shifting environmental battle lines
Published 25 Mar, 2020 12:00am
Partly Facetious : The Covid-19 challenge
Articles

Partly Facetious : The Covid-19 challenge

"The Prime Minister should have informed the nation that the military had been called in aid of civil institutions to ensure that his directions were being followed by the public. I mean in a democracy..."
Published 25 Mar, 2020 12:00am
Caring for the poor and vulnerable
Articles

Caring for the poor and vulnerable

The Pakistan Institute of Development Economics (PIDE), an official socio-economic think tank has voted for lockdown arguing that vacillation would not be able to contain the spread of the disease and its consequences on the economy would be unbearable in
Published 25 Mar, 2020 12:00am
Gender, security and development - I
Articles

Gender, security and development - I

February 8, 2020 was celebrated as International Women's Day. Women marches were held throughout the world and in Pakistan's major cities in highlighting the growing awareness of women's role in national life. Any nation comprising half of the global popu
Published 25 Mar, 2020 12:00am
Analysis of monetary policy statement
Articles

Analysis of monetary policy statement

The much-awaited Monetary Policy Statement (MPS) of the SBP was released a few days ago. It contains a review of the state of the economy and an assessment of the short-run prospects, based on which the Monetary Policy Committee (MPC) has decided on the p
Published 24 Mar, 2020 12:00am
Pakistan Day musings
Articles

Pakistan Day musings

Pakistan Day, March 23, 2020, passed this year in novel fashion. The coronavirus pandemic caused the cancellation of the traditional military parade on the day as well as the proliferation of symposia to reflect on the importance of the anniversary of the
Published 24 Mar, 2020 12:00am
How serious is the coronavirus crisis in Iran?
Articles

How serious is the coronavirus crisis in Iran?

Even according to official figures, the coronavirus epidemic has killed over 1,800 people in Iran, prompting unprecedented measures that have included closing holy Shiite shrines. But could the authorities in the Islamic republic be underplaying the sever
Published 24 Mar, 2020 12:00am
World economy
Articles

World economy

With COVID-19 unleashing devastation across the globe, around 170 countries and territories have registered over 140,000 confirmed cases as of 19 March, 2020. Many countries announced strict restrictions on immigration and air, sea and land travel among m
Published 23 Mar, 2020 12:00am
Restoring planetary balance
Articles

Restoring planetary balance

"We are living on the planet as if we have another one to go to." Terry Swearingen. A statement that is apt to our attitude about planet earth. The only problem is that we can no longer fly to another place that is safe and sound. The Coronavirus crisis i
Published 23 Mar, 2020 12:00am
Lock it down, now!
Articles

Lock it down, now!

There is no other option but to partially lock down big cities. Period. It must be done in a phased and sustainable manner for several weeks. Unless the government acts immediately, law of probability indicates that the virus is going to hit most of us. V
Published 22 Mar, 2020 12:00am
Turning the tide for water conservation
Articles

Turning the tide for water conservation

The every drop counts hashtag has garnered immense public following. In many ways, the UN's declaration of 2018-2028 as the International Decade for Conservation of Water is shaping public discourse on the globally critical need for taking effective measu
Published 22 Mar, 2020 12:00am
PSM problem: a workable solution
Articles

PSM problem: a workable solution

Pakistan Steel Mills (PSM) Board of Directors' incumbent Chairman is reported to have stated last week that PSM is in the process of revival and recovery. According to him, it needs to reinvent itself as a new organization.
Published 21 Mar, 2020 12:00am
Need for all-out reforms - I
Articles

Need for all-out reforms - I

Every now and then, we keep on hearing from higher judicial echelons that the federal and provincial governments must run the affairs in accordance with the Constitution of Islamic Republic of Pakistan [the Constitution] and applicable laws/rules/regulati
Published 20 Mar, 2020 12:00am
Public service reforms - IV
Articles

Public service reforms - IV

In the spirit of e-governance, and interconnectedness through the use of IT, public service officers should have a 'standardized online account.' The account should be maintained by Nadra (National Database and Registration Authority), and levels of acces
Published 20 Mar, 2020 12:00am
No debt fictional world
Articles

No debt fictional world

Imagination precedes invention - sure there have been accidental discoveries, but even in such cases, ultimately, someone was pursuing their imagination, albeit for some other objective.
Published 19 Mar, 2020 12:00am
Employment through digitalization of economy
Articles

Employment through digitalization of economy

It is needless to emphasize the significance of employment generation in the existing economic scenario of upward prices, shrinking demand, and public's inability to provide with sustenance to family. Although promises of employment to youth have not been
Published 19 Mar, 2020 12:00am
Oil crash piles pressure on virus-hit Saudi economy
Articles

Oil crash piles pressure on virus-hit Saudi economy

From empty hotels to shuttered beauty salons, oil-dependent Saudi Arabia is bracing for a coronavirus-led economic slump on top of possible austerity measures as crude prices go into free fall. Huge losses are expected after the Arab world's biggest econo
Published 19 Mar, 2020 12:00am
Cost of illicit cigarette trade
Articles

Cost of illicit cigarette trade

According to a UN 'doom's day scenario' the global economy faces a 'US$ 2 trillion' hit in view of the devastation being caused by the novel coronavirus pandemic. But even this figure is only tentative. Seemingly almost the entire world is gradually movin
Published 18 Mar, 2020 12:00am
Need for new income tax law - II
Articles

Need for new income tax law - II

Administrative reforms The administration of a tax system is highly complex. No doubt, a proper bureaucratic input is vital for making the system successful, but it is equally necessary to take all the stakeholders on board and laws are made and
Published 18 Mar, 2020 12:00am
Budgetary outcome in 2019-20
Articles

Budgetary outcome in 2019-20

The Mid-term Budget Review of 2019-20 was presented recently to the National Assembly. The outcome in the first six months reveals success in limiting the primary deficit and achieving the target agreed with the IMF. In fact, a primary surplus has been ac
Published 17 Mar, 2020 12:00am
Losses, only losses
Articles

Losses, only losses

Three bits of news last week became the focus of a lot of attention in the media, social media and public exchange. First came the news of the arrest by the National Accountability Bureau (NAB) of Mir Shakilur Rehman, owner and Editor-in-chief of the Jang
Published 17 Mar, 2020 12:00am
Few US shale firms can withstand prolonged oil price war
Articles

Few US shale firms can withstand prolonged oil price war

For the last five years, US shale oil producers have been battling suppliers for lower costs and running equipment and crews hard to drive drilling costs down by about $20 a barrel. The oil market rout last week, however, has left most shale firms facing
Published 17 Mar, 2020 12:00am
State of the economy
Articles

State of the economy

The debate on a charter of economy has resurfaced as the burden on the common man in terms of erosion of the rupee domestically (inflation rate remains at over 12 percent) and internationally (the rupee reached a high of 159 rupees to the dollar this week
Published 16 Mar, 2020 12:00am
World on a pause
Articles

World on a pause

Rushed. Speed of light. Sprinting. Marathon. Racing ahead. These are some of the oft-repeated descriptors of today's business and life. Life was spinning past. Business is moving fervently. Products were churning out faster than they were being consumed a
Published 16 Mar, 2020 12:00am
Unlike 2008, world's economic doctors feud over cure
Articles

Unlike 2008, world's economic doctors feud over cure

"I think the patient is stabilised," then US president Barack Obama declared after G20 powers prescribed unprecedented remedies to steady the crisis-wracked world economy just over a decade ago. Today, as the world fights to immunise global growth from th
Published 16 Mar, 2020 12:00am
PSL - a homegrown global brand
Articles

PSL - a homegrown global brand

PSL is a success story which every Pakistani should be proud of. Fifth season (PSL 2020) has been fully hosted in Pakistan with packed stadiums, although not any more due to COVID-19; but the journey was not as smooth as it appears today. It took years of
Updated 15 Mar, 2020 06:41am
South Sudan's road to peace marred by 'unconscionable' violence
Articles

South Sudan's road to peace marred by 'unconscionable' violence

The cattle rustlers were asleep, resting ahead of a raid, when automatic gunfire tore through their camp. Ambushed by rival herdsmen, encircled and outgunned, they were cut down, one by one. Koba Ngacho was lucky. Shot three times and left for dead, the y
Published 15 Mar, 2020 12:00am
'Super-spreaders': COVID19 myth or reality?
Articles

'Super-spreaders': COVID19 myth or reality?

Can a single COVID-19 patient infect dozens of others? Although transmission rates in the current outbreak appear to be far lower, a variety of factors can lead to an individual infecting many. The concept of so-called "super-spreaders" - patients who typ
Published 15 Mar, 2020 12:00am
OICCI's survey
Articles

OICCI's survey

The Overseas Investors Chambers of Commerce & Industry (OICCI) has rolled out key findings of its recently released 'Perception and Investment Survey - 2019'. The following are key punch lines of its survey:
Published 14 Mar, 2020 12:00am
The lucky economy
Articles

The lucky economy

About a decade or more ago, during a square table discussion, a comment was made that the economic success of the dictatorial government could only be attributed to luck; the almost immediate retort was short and simple - that being the case is it not stu
Published 14 Mar, 2020 12:00am
Shareholders pick holes in Europe's bank safety blanket
Articles

Shareholders pick holes in Europe's bank safety blanket

The euro zone followed Britain on Thursday with measures to support banks hit by the coronavirus pandemic but it offered little consolation to their long-suffering shareholders, faced with continued rock-bottom interest rates and a dire economic outlook.
Published 14 Mar, 2020 12:00am
Need for new income tax law - I
Articles

Need for new income tax law - I

When the government of General Pervez Musharraf decided to promulgate a new income tax law in 2000, we, amongst many others, opposed it strongly. Our main objection was that his regime had no mandate to enact any such law. The rule, "No taxation without r
Published 13 Mar, 2020 12:00am
Public service reforms - III
Articles

Public service reforms - III

In order to allow for the transition to a unified single public service, those who are currently working as civil servants will be automatically admitted into the fast stream. The proposed federal recruitment commission holds consultation with each civil
Published 13 Mar, 2020 12:00am
The challenge of COVID-19
Articles

The challenge of COVID-19

Vacant hotels, cancelled flights, and closed tourist sites due to spread of coronavirus (Covid-19) have adversely affected global tourism, with the estimation of US $80 billion in lost revenue for the tourism industry. On the other hand, the global automo
Published 13 Mar, 2020 12:00am
Discretion and its discontents
Articles

Discretion and its discontents

Administrative discretion is unavoidable. Problems, circumstances, administrators are all too complex to be straitjacketed into laws and regulations. "Where law ends (administrative) discretion begins" is how the father of administrative law Kenneth Davis
Published 12 Mar, 2020 12:00am
Changing dynamics of oil and gas industry
Articles

Changing dynamics of oil and gas industry

There is great opportunity for foreign exploration and production (E&P) companies as well as for domestic private sector business houses to participate in Oil & Gas ventures in Pakistan. Pakistan's oil and gas landscape is poised for tremendous growth.
Published 12 Mar, 2020 12:00am
Oil price crash: will it affect the move to green energy?
Articles

Oil price crash: will it affect the move to green energy?

The collapse in global oil prices may end up being bad news in the short term for the transition to green energy, as cheaper crude could see more use of cars and aircraft. But on the flip side, it could see companies move away from exploiting expensive fo
Published 12 Mar, 2020 12:00am
Don't sell family silver to foreigners
Articles

Don't sell family silver to foreigners

During the current year, two RLNG power plants, SME Bank, Services International Hotel, Jinnah Convention Centre, Islamabad and 27 other state-owned properties are being planned to be privatized.
Published 11 Mar, 2020 12:00am
US sanctions have idled a quarter of Iranian oil rigs
Articles

US sanctions have idled a quarter of Iranian oil rigs

At least a quarter of Iran's oil rigs are out of action as US sanctions strangle the Islamic Republic's vital oil industry, according to a Reuters review of financial documents and industry sources, dealing a potentially long-term blow to its oil industry
Published 11 Mar, 2020 12:00am
Dip in the rate of inflation
Articles

Dip in the rate of inflation

There has been a noticeable drop in the rate of inflation on a year-to-year basis. The national Consumer Price Index (CPI) increased by 14.6 percent in January 2020. It has fallen by 2.2 percentage points to 12.4 percent in February 2020. However, it is p
Published 10 Mar, 2020 12:00am
Women on the march
Articles

Women on the march

Despite the threats and attempted intimidation by the retrogressive forces in politics and society, the Aurat (Women's) march was held on March 8, 2020 in many cities throughout Pakistan. Rallies were held in Islamabad, Karachi, Lahore, Multan, Peshawar,
Published 10 Mar, 2020 12:00am
Coronavirus to drive European airline industry shakeout
Articles

Coronavirus to drive European airline industry shakeout

The coronavirus will accelerate a Darwinian shakeout in Europe's overcrowded airline industry that ultimately benefits Ryanair and British Airways owner IAG, industry experts predict. Nobody is exempt from the short-term pain that has already seen Flybe c
Published 10 Mar, 2020 12:00am
Inflation on a downward trajectory
Articles

Inflation on a downward trajectory

Nothing can erode a political government's popularity faster than a rise in inflation accompanied by an income raise lower than the rate of inflation. While the Khan-led administration did take politically extremely exigent decisions, many of which were c
Published 09 Mar, 2020 12:00am
Delhi 'HIV' virus
Articles

Delhi 'HIV' virus

While the world is obsessed with coronavirus another deadlier virus is spreading fast in the region. This virus is a lethal virus and has the capacity of being more devastating than covid-19, i.e., the Delhi 'HIV' or Hate induced Violence virus. While Tru
Published 09 Mar, 2020 12:00am
China exports plunge on coronavirus epidemic
Articles

China exports plunge on coronavirus epidemic

China's exports plummeted in the first two months of this year on the back of a coronavirus epidemic that forced businesses to suspend operations, disrupting the world's supply chains. Exports fell 17.2 percent from a year ago, the biggest drop since Febr
Published 08 Mar, 2020 12:00am
Global trade: Don't miss the bus again
Articles

Global trade: Don't miss the bus again

Back in days, the saying was "when the US sneezes, the world catches a cold"; today, coronavirus from China is pushing world economy in a recessionary phase. The economic woes travelled faster across global stock and commodity markets than the Covid-19 it
Published 08 Mar, 2020 12:00am
Antibiotics: precious life savers
Articles

Antibiotics: precious life savers

Beginning with the discovery of penicillin by Alexander Fleming in the late 1920s, antibiotics have revolutionized the field of medicine. Antibiotics not only have saved millions of lives each year these also alleviated pain and suffering and have even be
Published 08 Mar, 2020 12:00am
Minimal gains for Erdogan in Syria ceasefire deal
Articles

Minimal gains for Erdogan in Syria ceasefire deal

President Recep Tayyip Erdogan came home with the Syrian ceasefire he wanted from his meeting with Russia's Vladimir Putin, but the deal leaves key challenges unresolved, not the least the fate of a million displaced civilians still trapped in the warzone
Published 08 Mar, 2020 12:00am
Power emergency
Articles

Power emergency

It has been reported that National Electric Power Regulatory Authority (Nepra) has asked the Prime Minister to declare a national power emergency and take drastic steps for scaling down about Rs 1.93 trillion circular debt which, according to the regulato
Published 07 Mar, 2020 12:00am
The battle for interest
Articles

The battle for interest

If nothing else, we are a trail blazing nation. Perhaps for the first time in our history, at least if my memory serves me correctly, there is a likelihood that the legal profession, lawyers and judges, and not economists and nor the Central Bank, may end
Published 07 Mar, 2020 12:00am
Tax base and filers
Articles

Tax base and filers

According to a Press release of Federal Board of Revenue (FBR), it received "two million four hundred forty six thousand two hundred and ninety four (2,446,294) Tax Returns for Tax Year 2019 which increased by 45% compared to one million six hundred eight
Published 06 Mar, 2020 12:00am
Public service reforms - II
Articles

Public service reforms - II

Parliaments at the federal and provincial levels should make laws pertaining to the formulation of respective recruitment commissions (indicated in part-I of this series of articles by this writer) so that the needed shape and legitimacy could be obtained
Published 06 Mar, 2020 12:00am
The good, the bad, and the mysterious
Articles

The good, the bad, and the mysterious

The staff-level agreement with the IMF, the seemingly unstoppable coronavirus, and Khaqan Abbasi opening his heart out, have been hogging the media space. Together, it has been a spell-binding mystery novel that you rip through, developing your theories o
Published 05 Mar, 2020 12:00am
An open letter to PM Modi
Articles

An open letter to PM Modi

That I address you as a friend is no formality. I own no foes. My business in life has been for the past many years to enlist the friendship of the whole humanity by befriending mankind, irrespective of race, colour or creed.
Published 05 Mar, 2020 12:00am
'Shining India' - Sundowner
Articles

'Shining India' - Sundowner

Sundowner is a hangover of the British Raj, it's a drink taken at sunset - along with the Caramel Custard and the Mulligatawni Soup. In the heyday of the Raj, the Brits and their local friends would meet at the various clubs, watch the sun set and enjoy t
Published 04 Mar, 2020 12:00am
Economic dividends of peace deal
Articles

Economic dividends of peace deal

There are still a number of 'ifs' and 'buts' to the peace agreement signed by the US and Afghan Taliban on Saturday last (February 29, 2020). It would certainly take a lot of doing for the 40-year long bloodbath to turn into permanent peace giving rise ul
Published 04 Mar, 2020 12:00am
FBR revenue shortfall
Articles

FBR revenue shortfall

The shortfall in FBR revenues is likely to reach a record level this year. The magnitude of this shortfall will be the prime determinant of the extent to which the primary deficit in the budget diverges from the target level agreed with the IMF for 2019-2
Published 03 Mar, 2020 12:00am
An expedient deal
Articles

An expedient deal

The signing of the 'peace' deal between the US and the Taliban in Doha on February 29, 2020 has been touted by Pakistan as proof of its role as a peace maker and facilitator in ending the 19-year-old Afghan conflict. But even the quietly triumphant note i
Published 03 Mar, 2020 12:00am
The rationale for high discount rate
Articles

The rationale for high discount rate

The insistence by the State Bank of Pakistan to keep the discount rate at 13.25 percent since 20 July 2019, which implies a two to three percentage point higher lending rate by commercial banks, continues to generate controversy within the productive sect
Published 02 Mar, 2020 12:00am
Dealing with the deal
Articles

Dealing with the deal

Finally, the deal. The double TT, Ie, Trump and Taliban have both agreed and signed it. The rest of the world is keeping their fingers crossed - not only that they sign it but also that the deal does not become too much to deal with. 19 years of live and
Published 02 Mar, 2020 12:00am
Keeping Orange Line alive
Articles

Keeping Orange Line alive

Lahore Orange Line (train) rapid transit system is in the process of test run with commercial operations to commence by June 2020. This is second of four planned mass transit systems of Lahore. Green Line metro bus system is in operation for seven years,
Published 01 Mar, 2020 12:00am
IMF lending - Pakistan vs Egypt
Articles

IMF lending - Pakistan vs Egypt

Ever since the IMF rolled out its current programme in Pakistan, the global lending agency's programme for Egypt has been under intense discussions. The IMF rolled out, in 2016, a programme in Egypt. There are striking similarities between Egypt's and Pak
Published 29 Feb, 2020 12:00am
The pyramid
Articles

The pyramid

In a rare moment of weakness-laziness with zero options on the entertainment side being the causation - broke my resolve and switched to the news channels on the idiot box. I am unhappy to report that nothing has changed; the usual suspects still continue
Published 29 Feb, 2020 12:00am
Despite virus rout on markets, hygiene firms clean up
Articles

Despite virus rout on markets, hygiene firms clean up

This week's virus-related markets slump has hammered companies worldwide but some winners have emerged as an anxious public clamours for face masks, hand sanitizers and cleaning products. Thermal imaging cameras are also proving hot as authorities step up
Published 29 Feb, 2020 12:00am
Existing tax structure and fiscal restraints
Articles

Existing tax structure and fiscal restraints

Presently, all broad-based and buoyant sources of revenue are with the federal government and contribution of provinces in total tax revenues is merely 6 percent-in overall national revenue base (tax and non-tax revenue) it is around eight percent. This h
Published 28 Feb, 2020 12:00am
Public service reforms - I
Articles

Public service reforms - I

In 1871, President Ulysses S. Grant of the US appointed Dorman B. Eaton as the chair of the first Civil Service Commission, who later went to England in 1875 to study the civil service system of Britain. Upon conclusion of his studies, Eaton produced a re
Published 28 Feb, 2020 12:00am
What goes around comes around
Articles

What goes around comes around

"Who so diggeth a pit shall fall therein: and he that rolleth a stone, it will return upon him" (Bible 26:27) It is pertinent to remind our politicians, busy digging holes and throwing stones, of this eminently sensible biblical proverb. Will they ever le
Published 27 Feb, 2020 12:00am
Issues in energy for development
Articles

Issues in energy for development

The welfare of humanity has critically depended on our ability to harness and use energy. Development in Pakistan has similarly faced huge obstacles resulting largely from our inability to organise the availability of energy at a reasonable cost in a worl
Published 27 Feb, 2020 12:00am
Qatar eyes diplomatic win with US-Taliban deal
Articles

Qatar eyes diplomatic win with US-Taliban deal

Providing neutral space for talks on ending Afghanistan's 18-year conflict has boosted Qatar's international profile and helped it defy a painful embargo enforced by neighbours and former allies. After quietly brokering dialogue between the warring sides
Published 27 Feb, 2020 12:00am
Tax challenges of digital economy
Articles

Tax challenges of digital economy

Pakistan is too small player - in fact, an insignificant player in the new global game called digital economy, advancing fast in the wake of fourth industrial revolution (4IR). Therefore, instead of rushing thoughtlessly into a world that is being trodden
Published 26 Feb, 2020 12:00am
Retrieving untaxed/ill-gotten assets - II
Articles

Retrieving untaxed/ill-gotten assets - II

A breakthrough was made by media showing that investment in Dubai alone by Pakistanis during the past 10 years was in billions, yet instead of taking actions against the offenders, the government of PTI also extended asset whitening scheme, the details of
Published 26 Feb, 2020 12:00am
Coronavirus fears loom over giant US toy show
Articles

Coronavirus fears loom over giant US toy show

There is no China Pavilion at this year's Toy Fair owing to the new coronavirus outbreak, and the travails of the world's second-biggest economy hang over the giant trade show. Output in China - by far the world's biggest maker of toys - has slowed to a t
Published 26 Feb, 2020 12:00am
State of public finances
Articles

State of public finances

The previous financial year closed with the largest ever budget deficit. The magnitude was Rs 3,445 billion, equivalent to 8.9 percent of the GDP. The increase in relation to 2017-18 was 2.3 percent of the GDP. This severe deterioration in the state of pu
Published 25 Feb, 2020 12:00am
An ephemeral peace
Articles

An ephemeral peace

The partial truce/ceasefire in Afghanistan that kicked in on February 22, 2020, if it holds, is expected to lead to the signing of a deal between the US and the Taliban on February 29, 2020 to allow the withdrawal of US forces from their longest foreign w
Published 25 Feb, 2020 12:00am
Ideology versus technocracy
Articles

Ideology versus technocracy

The debate on whether to employ a technocrat, with no party affiliations, over and above an ideologue, who supports the party's ideology, was never under serious debate on Pakistan's political scene - be they military adventurers or civilian governments.
Published 24 Feb, 2020 12:00am
40 years of Pakistani hospitality
Articles

40 years of Pakistani hospitality

Welcome to the unwelcomed is the lost spirit of giving refuge to the displaced. Consider a lost soul- they are those who are runaways, those who are strangers, those who are unwanted, those who have no identity, those who have no houses, those who have no
Published 24 Feb, 2020 12:00am
Virus hits shipping, spreading global economic strain
Articles

Virus hits shipping, spreading global economic strain

Sea freight transport, the lifeblood of trade and a bellwether of the global economy, has been blown off course by the new coronavirus, sparking general alarm. As analysts pore over charts to gauge just how badly Chinese mega-factories have been hit, figu
Published 24 Feb, 2020 12:00am
Justice Rana Bhagwandas remembered
Articles

Justice Rana Bhagwandas remembered

It was 2007 - a year of upheavals and an extremely tumultuous time in the country's political and judicial history. Each day brought with it disturbing reports of disorder, chaos and new high-profile cases while the rumor mills worked overtime to add to t
Published 23 Feb, 2020 12:00am
Cars and competition disruption
Articles

Cars and competition disruption

Nothing is better than competition. Pakistan's automotive industry is going through a transition phase. For the last thirty years, three Japanese assemblers dominated the passenger car segment. Localization of parts never happened to the liking of policym
Published 23 Feb, 2020 12:00am
Mid-year budget review - 2019-20
Articles

Mid-year budget review - 2019-20

The Federal Ministry of Finance has formulated the mid-year budget review 2019-20. Subject to its review by the Federal Cabinet and the National Assembly the report would be rolled out soon. One important aspect of the report is the fiscal risk analysis a
Published 22 Feb, 2020 12:00am
What women want?
Articles

What women want?

Apart from Imran Khan, that is! Or George Clooney. Most women are smitten by IK, except the two Maryams (Aurangzeb and Nawaz). Women now comprehend him as a great reformer and leader. I shall go along with them, till history proves otherwise. But George C
Published 22 Feb, 2020 12:00am
Retrieving untaxed/ill-gotten assets - I
Articles

Retrieving untaxed/ill-gotten assets - I

In the Supreme Court of Pakistan, Suo Motu Case No. 2 of 2018 re 'Maintaining of Foreign Accounts by Pakistani Citizens Without Disclosing the Same/Paying Taxes', is still pending for adjudication. It started on February 1, 2018 and after many hearings, f
Published 21 Feb, 2020 12:00am
The cost of confused macroeconomic policy
Articles

The cost of confused macroeconomic policy

It seems to be a chicken and egg situation: inflation will fall first; only then will State Bank of Pakistan (SBP) lower its policy rate, or the policy rate will drop before inflation rate falls. In other words, it is impossible to decide which of two thi
Published 21 Feb, 2020 12:00am
Collective amnesia to controlled minds
Articles

Collective amnesia to controlled minds

The country will soon be 73 years old. That's the age you enter a room looking for something and forget what you had come looking for. Your memory becomes more selective, more nostalgic, more wanting to believe what you want to and not the inconvenient tr
Published 20 Feb, 2020 12:00am
Trading in the age of automation
Articles

Trading in the age of automation

As Pakistan tries to regain its foothold in the world export market, the global export scenario is undergoing a drastic disruption. Suddenly it is not cheap labour that the manufacturers are looking for but smart labour, well-versed in new tech skills, au
Published 19 Feb, 2020 12:00am
IMF second review
Articles

IMF second review

The IMF staff review of the Extended Fund Facility has been completed and a press statement issued. There is need to appreciate efforts of the government in meeting all the six performance criteria again as was the case in the first programme review. This
Published 18 Feb, 2020 12:00am
Now censorship of social media
Articles

Now censorship of social media

The insecurity and paranoia of the establishment increasingly on display is about to 'conquer' new heights (or lows, if you prefer). Having muzzled and gagged the mainstream media through financial strangulation (reduction of government advertising) and '
Published 18 Feb, 2020 12:00am
Clock's ticking for Nissan boss Uchida to show he has a plan
Articles

Clock's ticking for Nissan boss Uchida to show he has a plan

Nissan's new CEO Makoto Uchida doesn't have time to work his way into the job. He is effectively on probation and has a matter of months to show he can revive the ailing automaker, according to three people familiar with the thinking of some on the compan
Published 18 Feb, 2020 12:00am
Truths, half truths and then...
Articles

Truths, half truths and then...

The unchallenged legacy of Donald Trump's presidency has been an almost routine fact-check of all statements he makes. This exercise has become increasingly relevant in assessing the grandiose claims by stakeholders, including Pakistani federal ministers.
Published 17 Feb, 2020 12:00am
Lessons from Turkey
Articles

Lessons from Turkey

"Istanbul a couple of decades ago was more like an African city than a European city", said one of the Pakistanis living in Turkey for 30 years. Hard to imagine as you come out of the largest airport hub in the world where Turkish airlines has overtaken E
Published 17 Feb, 2020 12:00am
Miners welcome South Africa's plans to open up power generation
Articles

Miners welcome South Africa's plans to open up power generation

South Africa's announcement that it will open up electricity generation to other players, effectively breaking Eskom's monopoly, has been welcomed by many, especially the mining industry, a key sector in Africa's most industrialised economy. President Cyr
Published 17 Feb, 2020 12:00am
Irked US squeezes Iraq with cash delays, short waivers
Articles

Irked US squeezes Iraq with cash delays, short waivers

Irked by Iraq's close ties to neighbouring Iran, Washington has begun following through on threats to squeeze Baghdad's fragile economy with delays to crucial cash deliveries and shortened sanctions waivers. This week, the US granted Iraq last-minute leav
Published 16 Feb, 2020 12:00am
IMF review: power remains the key
Articles

IMF review: power remains the key

The IMF second review is concluded. The staff-level agreement has not been reached; unlike in November review. That said, the tone was not negative. There might be some prior actions (such as increase in petroleum levy, increase in gas prices, pending fue
Published 16 Feb, 2020 12:00am
Pakistan's 40 golden years of hosting Afghan refugees
Articles

Pakistan's 40 golden years of hosting Afghan refugees

The world today is at crossroads of its history as humanity faces gigantic challenges. The biggest challenge for the world is unresolved conflicts and human displacement due to these wars. According to Dina Nayeri, it is the obligation of every person bor
Published 16 Feb, 2020 12:00am
Reforms in energy sector
Articles

Reforms in energy sector

The federal government has decided to set up Pakistan Petroleum Exploration and Production Authority as part of its plan to introduce reforms in the oil and gas sector. Presently, the energy ministry enjoys both the powers of policymaking and regulation.
Published 15 Feb, 2020 12:00am
What is wrong
Articles

What is wrong

Well, depends on who you listen too, or rather want to listen too. The IMF-led government version is that things are on track, thanks to the finance team, by and large, adhering to the structural reforms programme and good days are around the corner - wel
Published 15 Feb, 2020 12:00am
Portuguese communities lock horns with lithium miners
Articles

Portuguese communities lock horns with lithium miners

The lush, green hills where Paulo Pires has for years brought sheep to graze above his picturesque Portuguese village may soon be transformed by the race to power electric vehicles. Signs of change already give him sleepless nights. Hundreds of drill hole
Published 15 Feb, 2020 12:00am
Asian plane makers struggle to take off in crowded market
Articles

Asian plane makers struggle to take off in crowded market

Asian plane makers have thrown huge sums at building jets but flagship projects have suffered repeated setbacks, and they face a tough time breaking into a market dominated by established players. The Asia-Pacific region is the world's biggest aviation ma
Published 15 Feb, 2020 12:00am
Dealing with 'debtocracy'
Articles

Dealing with 'debtocracy'

Total debt servicing increased by around 57 percent during FY 2018-19 compared with last fiscal year which was driven by higher domestic interest payments (on account of rise in domestic interest rates) while external debt repayments increased significant
Published 14 Feb, 2020 12:00am
Policy imperatives for equitable growth and human well-being
Articles

Policy imperatives for equitable growth and human well-being

No doubt, the current account deficit has tremendously narrowed down on the back of drastic decline in imports. That allows build-up of reserves and so does the increase in portfolio investment that is witnessing an upward trend over the last few months l
Published 14 Feb, 2020 12:00am
All roads lead to Beijing
Articles

All roads lead to Beijing

There is one area where all are on the same page: Export growth. Everyone is for it. The trouble is not everyone reads the page the same way. How else do you explain the numbers? The tug of war within the government is quite apparent: the pious part promi
Published 13 Feb, 2020 12:00am
Restructuring of FBR - the only way forward!
Articles

Restructuring of FBR - the only way forward!

Due to inherent weaknesses in the Federal Board of Revenue (FBR), successive governments have tried to expand the tax base of the country, fix excessive scope of discretion and rent-seeking behaviour, eliminate corruption, tax evasion, complex and non-tra
Published 13 Feb, 2020 12:00am
A social worker in the court of free market
Articles

A social worker in the court of free market

"We came to power for the welfare of the poor. We have no right to continue staying in power if we don't care about them," Prime Minister Imran Khan said the other day while presiding over a meeting to review the rising prices of essential commodities.
Published 12 Feb, 2020 12:00am
The coronavirus challenge
Articles

The coronavirus challenge

Chinese scholars such as Liu Kan and Lu Chuanying of SIIS gave three major views, both in China and abroad, about the negative impacts of the 2019-nCov epidemic on China's economy. The "critical impact" assessment goes like that it will have serious effec
Published 12 Feb, 2020 12:00am
IMF's projections
Articles

IMF's projections

The article last week by me had assessed the projections made for 2019-20 by the IMF staff following the First Review. This article analyses the projections for the last two years of the Program, 2020-21 and 2021-22. The IMF projections for the next two y
Published 11 Feb, 2020 12:00am
Maulana's 'assurance'
Articles

Maulana's 'assurance'

Maulana Fazlur Rehman, chief of the Jamiat-i-Ulema-i-Islam-Fazl (JUI-F), is a frustrated man. Two rounds of a sit-in in Islamabad and highly ambitious attempted blockage of highways throughout the country last year failed to find traction and had to be ab
Published 11 Feb, 2020 12:00am
No phones, no leaks: How Lagarde is making her mark on ECB
Articles

No phones, no leaks: How Lagarde is making her mark on ECB

Gathered in a German mountain castle last November a/for an evening retreat that ended with a whiskey-tasting, rebel European Central Bank policymakers and Christine Lagarde, their newly confirmed president, made a pact. Lagarde pledged to spend more time
Published 11 Feb, 2020 12:00am
Data integrity remains an issue
Articles

Data integrity remains an issue

Prime Minister Imran Khan's signature Ehsaas programme launched on 27 March 2019 with his Policy Statement uploaded on the website highlights the need for data integrity though it is unclear if implementation has begun.
Published 10 Feb, 2020 12:00am
Coronavirus outbreak
Articles

Coronavirus outbreak

If you want an infection virus to become an epidemic virus, press the panic button. Viruses need measured, scientific, thought through responses. Panic blocks the ability to think, measure and respond in a logical manner. The latest coronavirus issue is i
Updated 04 Mar, 2020 10:41am
As nations bicker, a greener future evolves in finance
Articles

As nations bicker, a greener future evolves in finance

Away from the toxic atmosphere at climate summit talks, in boardrooms, banks and trading houses, a transformation in green finance is under way. Its backers hope it could profitably help save the planet. Regardless of the politics of climate change, there
Published 10 Feb, 2020 12:00am
There's need for macro-fiscal unit
Articles

There's need for macro-fiscal unit

The Adviser to PM on Finance is in a tight spot. The IMF's second review is ongoing. All the binary targets are likely to be met. But the problem is to manage primary fiscal deficit targets in the quarters to come. Ambitious indicative tax revenue target
Published 09 Feb, 2020 12:00am
China turns to AI, data in fight against virus
Articles

China turns to AI, data in fight against virus

A man who had travelled to Wuhan - the central city at the heart of China's coronavirus crisis - was surprised when police showed up at his door after he returned home, asking to check his temperature. The man, who had quarantined himself at home in Nanji
Published 09 Feb, 2020 12:00am
Owl-right start for ECB's Lagarde in first 100 days
Articles

Owl-right start for ECB's Lagarde in first 100 days

Wearing an owl brooch to her January press conference, Christine Lagarde made clear her determination to run the European Central Bank differently from her predecessors as it hunts for a way out of crisis-management mode.
Published 09 Feb, 2020 12:00am
Coronavirus claims Hyundai car plant
Articles

Coronavirus claims Hyundai car plant

The most productive car factory in the world fell quiet on Friday as South Korea's Hyundai suspended operations at its giant Ulsan complex, hamstrung by a lack of parts with the coronavirus outbreak crippling China's industrial output.
Published 08 Feb, 2020 12:00am
Unrealistic IMF targets
Articles

Unrealistic IMF targets

Pakistan has once again requested the visiting International Monetary Fund (IMF) team to further reduce tax collection target. As reported in the media, in a meeting between a Pakistani team and the IMF mission for second review talks, the government info
Published 08 Feb, 2020 12:00am
No man can
Articles

No man can

A couple of days ago, sitting in the national airline's A320, waiting for it to take off from Islamabad and peeved by the condition of the cabin, impulsively retorted that if they gave me the airline it would become profitable within a couple of years.
Published 08 Feb, 2020 12:00am
Tax frauds, corruption & NAB
Articles

Tax frauds, corruption & NAB

In majority tax frauds, the usual parties are the official(s) and the taxpayer(s). Cases where unilateral tax fraud is committed are rare such as using fictitious bank account(s) to obtain fake refunds. But even in such cases, bank officials are involved
Published 07 Feb, 2020 12:00am
Global economic prospects and Pakistan
Articles

Global economic prospects and Pakistan

The United Nations Department of Economic and Social Affairs (UN DESA), along with some other related departments of the United Nations (UN) recently launched their flagship report 'World Economic Situation and Prospects 2020'. According to the Secretary-
Published 07 Feb, 2020 12:00am
Alice in Cuckoo Land
Articles

Alice in Cuckoo Land

Alice Wells is a professional diplomat, trained in the art of nuances. One would imagine the power she represents allows her to speak softly, without having to show the stick. Blustering Trump is no Theodore Roosevelt. His weapon of choice is brashness, n
Published 06 Feb, 2020 12:00am
Why exporters need more help?
Articles

Why exporters need more help?

An amalgam of economic distortions, inefficiencies and illogically inflated tariffs is resulting in immense pressure for the export-oriented sectors in Pakistan to remain competitive, and this by default will have grave consequences for our future. It sho
Published 06 Feb, 2020 12:00am
China's stuttering economy braces for impact of deadly virus
Articles

China's stuttering economy braces for impact of deadly virus

China's struggle to contain the deadly coronavirus is deepening concerns about the impact on the world's number-two economy, as factories stay closed and millions of consumers remain holed up at home. The epidemic, which has killed hundreds and infected m
Published 06 Feb, 2020 12:00am
Learning through technology
Articles

Learning through technology

Without adequate energy supplies, adequate capital and adequate availability of technology no country can stand on its own two feet and protect its sovereignty from being eroded by those on whom such countries, depend for dole.
Published 05 Feb, 2020 12:00am
Structured access to IMF
Articles

Structured access to IMF

The principle of international economic law prescribes foreign exchange stability of the member countries and it recognizes that the essential purpose of the international monetary system is to provide a framework that facilitates the exchange of goods, s
Published 05 Feb, 2020 12:00am
Coronavirus could also sicken global economy
Articles

Coronavirus could also sicken global economy

The rapid spread of a new coronavirus in China, the world's second largest economy, could rapidly weaken already fragile global growth as trade and oil demand slow, analysts say. The world economy could do without this new problem, after suffering from a
Published 05 Feb, 2020 12:00am
The price of defeat
Articles

The price of defeat

US Special Envoy for Afghan Peace and Reconciliation Zalmay Khalilzad is once more treading the well worn path of a political settlement of the Afghan war that would allow a defeated US a face-saving exit while saving as much of the Afghan government of A
Published 04 Feb, 2020 12:00am
IMF's projections for 2019-20
Articles

IMF's projections for 2019-20

The first review report prepared by the IMF staff became available in late-December 2019. This followed the successful completion by Pakistan of this review. All the performance criteria were met. This has improved perceptions about the extent of success
Published 04 Feb, 2020 12:00am
MPS 2020
Articles

MPS 2020

The first monetary policy statement (MPS) for the year 2020 announced by Governor State Bank of Pakistan maintained the discount rate at 13.25 percent (since July 2019) dashing hopes of a downward revision that independent economists as well as members of
Published 03 Feb, 2020 12:00am
FATF - financial politics
Articles

FATF - financial politics

"Money is the mother of all politics", Jesse. M. Unruh. A statement that has been debated but not disputed. This is visible in the classification of the world into the first world, third world or the developed Vs LDCs - less developed countries. The class
Published 03 Feb, 2020 12:00am
Identity crisis and extremism
Articles

Identity crisis and extremism

An identity crisis is a phenomenon where a people's identity is defined and manipulated in a particular way to exploit it for political advantages. Identity crisis then leads to extremism in politics and the dominating cult excludes others on untenable gr
Published 03 Feb, 2020 12:00am
Stay of recovery in tax matters - II
Articles

Stay of recovery in tax matters - II

It needs to be mentioned that the principle contained in Additional Collector-II Sales Tax, Lahore Vs M/s Abdullah Sugar Mills Ltd (2003 SCMR 1026) relied by Division Bench was misplaced, due to wrong inference drawn and after changes in law that are disc
Published 02 Feb, 2020 12:00am
Israeli Arabs fear for their future under Trump 'peace plan'
Articles

Israeli Arabs fear for their future under Trump 'peace plan'

In the Israeli Arab town of Umm al-Fahm residents are scared and angry over US President Donald Trump's peace plan which sees them as part of a future Palestinian state. At the same time, the "deal of the century" would give the Israel a green light to an
Published 02 Feb, 2020 12:00am
Understated GDP
Articles

Understated GDP

It's no news that informal economy is significant in Pakistan. What some would not know is that within documented economy, not everything is measured in GDP computation. It can be said with confidence that GDP is significantly understated in Pakistan. Onc
Updated 02 Feb, 2020 06:49am
A flawed approach?
Articles

A flawed approach?

Never before has the Corruption Perception Index (CPI) global rating by Transparency International (TI) invoked so much of controversy and confusion in Pakistan. In its recently published report, TI stated that Pakistan had scored 32 on the Corruption Per
Published 01 Feb, 2020 12:00am
Non-issues
Articles

Non-issues

Perhaps it is the lack of other forms of entertainment, or perhaps extreme polarisation is the cause, but whatever the case may be, we as a nation are infatuated with non issues. Essentially, if it is only about the economy, which it is, it is utterly rem
Published 01 Feb, 2020 12:00am
China's achievement on anti-coronavirus R&D
Articles

China's achievement on anti-coronavirus R&D

The World Health Organisation announced on Jan 12, 2020 that it has received information from China on a novel coronavirus gene sequence detected from unexplained viral pneumonia cases in Wuhan. Then around seven Chinese biotech companies started developi
Updated 04 Mar, 2020 10:53am
Fake news: A conundrum that demands serious discourse
Articles

Fake news: A conundrum that demands serious discourse

Much of the discourse on 'fake news' conflates three notions. Misinformation which is unintended, or an accidental mistake in narration. Disinformation is fabricated or intentionally modified content to maliciously harm a person. Mal-information is based
Published 01 Feb, 2020 12:00am
Stay of recovery in tax matters - I
Articles

Stay of recovery in tax matters - I

In tax disputes the principles relating to stay of recovery in appropriate cases with or without condition, whether provided statutorily or as a matter of inherent jurisdiction, are well-established. The highest court of the country, the Supreme Court of
Published 31 Jan, 2020 12:00am
Banking for children
Articles

Banking for children

How our kids can miraculously contribute to national savings and resource mobilization towards a better and brighter Pakistan! It is a test of the will, vision and vitality of people at the helm of banking affairs to revitalize school banking and initiate
Published 31 Jan, 2020 12:00am