Infrastructure development plays a pivotal role in driving economic growth, enhancing prosperity, and improving living standards. However, financing these projects poses a significant challenge, particularly in developing economies. Governments around the world are continuously searching for effective and sustainable funding mechanisms to support such large-scale initiatives. Sukuk, a Shariah-c
A third of Pakistan’s urban population lives in Karachi and Lahore, leading to unplanned sprawl and growth of illegal developments. Informal settlements do not comply with planning rules, delivering substandard living conditions and disrupting city functions, says ADB’s report “Pakistan National Urban Assessment”. Karachi has two of the world’s most overpopulated residential areas, the Garden a
Given Pakistan’s huge population, currently growing at 2.55 per cent annually, as revealed by the 7th National Population and Housing Census 2023, the country needs to boost agricultural output by at least the same rate, if not higher. Across the globe, the most common approach used to accomplish this is through intensification (enhancing crop yields and cropping intensity) and extensification (ex
Pakistan’s economy is beginning to show signs of stabilisation, as recent data on inflation and forex inflows suggest. While this is indeed a positive development and brings some much-needed optimism, steering the country towards sustainable high growth will require significant structural changes. In FY25, the federal government anticipates collecting nearly Rs13 trillion in taxes, with three-f
The number of passengers travelling by air increased 31 per cent to 4.2 billion in 2023, according to a report by the International Civil Aviation Organisation (ICAO). The number was over 3.2bn passengers in 2022 but slightly below the pre-pandemic levels of 4.5bn passengers in 2019. In its ‘2024 Safety Report’ released this week, the global aviation body said 2023 was the safest of the past