Not at all, if you look at the per capita consumption and spending patterns. Yes, if you consider the per capita GDP (gross domestic product). When evaluating a country's economy, income and poverty status, the per capita GDP is considered to be the most common indicator. For Pakistan, this indicator is certainly on the lower side and categorises us as a low-income country, and a nation struggl
The economic pie is divided among the income classes where high-net-worth individuals buy luxury goods and services while low and middle-income ones buy mass produced goods. Luxury goods are usually imported. If they are produced locally, they will involve a lot of imported content. In addition, they are produced through capital-intensive techniques. Hence, they consume precious foreign exchang
Pakistan faces numerous challenges in its tax system and revenue generation. These challenges include a narrow tax base, a complex tax structure, an undocumented economy, weak enforcement, political instability, and inconsistent policies. Each government attempts to address these issues according to its own priorities, but the focus remains primarily on increasing taxes from the existing taxpay
This month, the US Bureau of Industry and Security revealed a new package of strategic export controls on 140 Chinese companies, driven by a fear that the Chinese army could use artificial intelligence (AI) in automated identification and targeting of human subjects. The regulatory measures and export controls apply to high-bandwidth AI memory chips, software for chip design and development, as
After the ruthless mid-week bloodbath at the stock market that had sent the index in deep red, the bulls drove out bears to stage a partial recovery in the last session on renewed buying interest at an attractive valuation, but the market remained in the negative zone in the outgoing week. The three-day steep correction post-State Bank of Pakistan’s (SBP) policy rate cut kept the benchmark KSE