The latest report, Survival of the Richest by Oxfam (a British-founded confederation of 21 independent charitable organisations), highlights the perilous issue of the explosion of inequality around the world. The world has been divided into two segments, haves and have-nots. The prevailing tax structure and neoliberal economic policies are just in favour of the tiny elite and cause a polycrisis
Pakistan’s tax system needs an overhaul to simplify provisions, close loopholes and ensure equitable distribution of tax burden, the World Bank has said in its latest report. The report, ‘Enabling a Modern and Efficient Tax System’, said despite strategies and proclaimed intentions over the last two decades, the outcomes remain to be attained. “Instead of a complete system overhaul, which ma
This Ramazan providing food to the needy at Sehr/Iftar and distribution of ration bags individually and through charities at mosques, offices, bus stops, sidewalks, empty plots, green belts and dedicated spaces has been more visible than before in cities, particularly in Karachi. In the current stressful environment, when the 24/7 news cycle has been adding to the public anxiety and businesses
The government has officially clipped the size of the Public Sector Development Programme (PSDP) by a quarter to just Rs600 billion compared to the Rs800bn allocation, citing fiscal constraints. This will be the second year in a row that the country’s underfunded infrastructure development will remain constrained by drastic cuts even in funds allocated by the parliament. In the previous fi
The inordinate delay in the signing of a staff-level agreement with the International Monetary Fund (IMF) resulted in another day of losses for equities on Tuesday. The index of representative shares opened on the higher side but slipped into the negative territory after struggling to maintain its momentum, said Arif Habib Ltd. Share prices bounced within a short range afterwards as poor engage