Fiscal policy in Pakistan is usually far from a fine balancing act and is more of a reckless feat. It has long been marked by a contentious debate between austerity and stimulus measures – with the government oscillating between these two approaches, often thoughtlessly. Thanks to these policies, the past three years have been marked by high interest rates – a result of the State Bank of Pakist
As Pakistan faces mounting economic challenges, the government’s ambitious proposal to raise Rs1.2 trillion to Rs1.3tr in the upcoming budget through new taxation measures signals a bold attempt to stabilise the nation’s fiscal health. However, the effectiveness of these measures is tempered by the inherent weaknesses in Pakistan’s tax system, which is fragmented and unfair and leaves entire se
THE upcoming budget presents challenges for the fragile federal coalition government. The 10-day IMF mission visit concludes with a focus on increasing revenue collection and reform demands. Undoubtedly, reforms are important, but the lender’s primary focus is increasing revenue through existing and new tax initiatives in the upcoming budget. However, the IMF delegation left without a final dec
Good things have started happening in Pakistan’s economy, but challenges remain and may even compound in the near future. The Pakistani economy contracted by 0.21 per cent in the last fiscal year. However, it began recovering in the first quarter of this year. The pace of recovery remained at 2.7pc in the first quarter, followed by 1.8pc and 2.1pc in the second and third quarters. The govern
Without developing local AI capabilities, Pakistan may become increasingly dependent on foreign AI solutions,” said ByeongJo Kong, Digital Technology Specialist (Data Analytics & Big Data) at the Asian Development Bank (ADB) in response to an emailed query. This dependency not only incurs higher costs but could also place critical infrastructure and systems under the control of foreign entities