Pakistan has gone to the International Monetary Fund (IMF) 20 times before the National Finance Commission (NFC) award in 2010 and four times since 2010. Pakistan’s current financial woes did not begin with the NFC award, nor would they lessen by reducing the allocations to the provinces. Unfortunately, we continue to debate about dividing the pie because only economic growth is a sustainable s
In the aftermath of a significant crackdown on the jewellery sector in September aimed at curbing speculation and smuggling, the only benefit that appears in sight so far has been the advancement of daily bullion rate announcements by three to four hours. Previously, these rates were released around sunset. However, a series of commitments made by the bullion trade representatives to law enforc
Pakistan’s exports to European countries have begun to dip in the current fiscal year despite a GSP+ status that allows duty-free entrance into European markets for the majority of its products. In absolute terms, Pakistan’s exports to European countries dipped year-on-year by 6.89 per cent in the first eight months of the current fiscal year to $5.411 billion from $5.812bn in the corresponding
The tale of the tortoise and the hare has long been a fixture in our collective memory, imparting the wisdom that persistence and steadiness can lead to success. However, with maturity, one learns that urgency and swift action have their own merits. In economic planning, undue delays and over-caution can sometimes stall progress. This reality is keenly felt within the corridors of policy-making
On March 18, the federal government took several measures to reduce the cost of foreign trips, instructing officials to opt for cost-effective alternatives, such as teleconferencing. Moreover, conferences that can be handled by Pakistan missions abroad should be identified, and proper intimation should be sent to the concerned missions. According to analysts, such austerity measures “appear to