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
Finance Minister Muhammad Aurangzeb has criticised the country’s tax authorities for having a “reputation for corruption”, calling it the main reason why citizens don’t want to deal with it. In an interview with the Financial Times, he was critical of the Federal Board of Revenue (FBR), saying: “People don’t want to deal with the tax authority because of corruption, because of harassment, becau