Finance Minister Muhammad Aurangzeb has warned that the country would continue seeking financial assistance packages from the International Monetary Fund (IMF) if the government failed to significantly boost its tax revenues. Speaking to a UK publication, the minister said he was “relatively confident” of reaching a staff-level agreement with the IMF this month for a loan the government had est
Pakistan has invariably been a very difficult country to do business in, let alone thrive profitably. Keeping the much-touted rankings of ease of doing business aside, investors have often faced increased uncertainty over the past decade. This uncertainty stems from fluctuations in interest rates, currency value, external debt, a volatile ‘bromance’ with the International Monetary Fund (IMF), p
In a world driven by economic dynamism and financial innovation, Islamic finance stands out as a unique and increasingly influential system that focus on real trade and economic activity while barring interest-based dealing, speculation, artificial financial instruments and toxic assets like conventional derivatives. Islamic finance rooted in the Islamic commercial law and supported by a strong
In 2010, Malaysia was ranked No 116 in the world in terms of ease of construction permits, which was one of the many parameters that the World Bank used to compare countries on the “Ease of Doing Business”. On the instructions of then prime minister Najib Razak, a high-powered task force with equal representation from the government and private sector was constituted, which was backed by the Ma
From time to time, we come across propaganda unleashed against the China-Pakistan Economic Corridor (CPEC): that it is a debt-creating instrument, China is not keen to help Pakistan ride out its severe economic problems, and Beijing is using the corridor as a strategic ploy to put its stamp on the region. Such propaganda, however, is baseless. In order to appreciate CPEC and its implications fo