March 18, 2019
By Mehtab Haider.

Amid passing through complete confusion in last eight months, the government is finally heading towards making up its mind for moving towards approaching the International Monetary Fund for obtaining fresh bailout package anytime around in coming May/June period.It seems that next three to four months will be quite crucial for Pakistan Tehreek-e-Insaf -led regime on IMF and FATF as the government will have to demonstrate its ability to deliver on key conditions such as fulfilling prior actions and curbing terror financing. First of all, there are some positive developments as the current account deficit has narrowed down significantly...


By Sirajuddin Aziz

There is a Kenyan saying that goes: “Sticks in a bundle are unbreakable”. It is a reality that we can only grow together or perish as individual fools. There is in life no single hand claps. It takes two to jubilate. The keen human desire and weakness to be the center of attraction and to have all spotlight and cameras shining upon oneself is a major mental disease. Unbridled and uncontrolled, this urge can convert a perfectly normal, well-performing manager/individual into a narcissist of sorts. Individual excellence is critical to team’s success; however, if that individual does not subscribe to the need for his team to be equally...


By Istaqbal Mehdi

Public enterprise management has emerged as one of the most pressing policy problems today. In finding the way ahead, it will be useful to learn not only from our failures but also from our successes. Although, now largely forgotten, one of the most successful systems of performance-based management of public enterprises was designed and implemented in Pakistan in 1980s. Here’s a review of that experience.HistoryIn the 1970s the public industrial sector in Pakistan experienced a rapid expansion. With the merger of 33 nationalised industrial units with 29 existing enterprises of Pakistan Industrial Development Corporation a large...


By Chris Giles.

For those in despair with Britain’s political class, I bring good news. Its top economists, those without a political axe to grind, made excellent Brexit forecasts both before and shortly after the June 2016 referendum. Politics might be in meltdown, but economics has been on the money. A few days before the vote, three of the UK’s most reputable economic institutions — the National Institute of Economic and Social Research, the Institute for Fiscal Studies and the Centre for Economic Performance at the London School of Economics wrote a short joint statement under the heading: “Leaving the EU would almost certainly damage our...


By Tim Harford

Everyone seems to agree that we live in a “superstar economy” — one in which the leading companies are making dramatic strides both in productivity and in profitability. In response to this conventional wisdom the only question is: how should regulators respond?There is a case that we should let the superstars keep doing what they do. Enjoy the fruits of their creativity. The smartphone! Internet search that works! Next-day delivery of next week’s landfill! For now, the superstars are innovative and efficient. In due course new monopolists will arise, motivated to seize the crown.This case is not absurd, although my own instincts...


By Mehtab Haider.

Pakistan Tehreek-e-Insaf- led regime is left with no other option but to deliver on the economic front and the most pressing issue at hand is the exhaustive overhaul of the apex tax authority that is mired in jobbery, inefficiency, and controversies.Federal Board of Revenue is currently increasing making headlines for all bad reasons that beg drastic countermeasures, but cleansing the Augean stables of corruption necessitates Herculean solutions instead of draconian damnation.Over last two decades, a stagnant tax-to-GDP ratio has reached a stage where it’s posing serious threats to the country’s economy, mainly because the...


By Hussain Ahmad Siddiqui

Last month Saudi Arabia has signed an agreement with Pakistan for setting up a $10 billion oil refinery and petrochemical complex in Gwadar port, which is the biggest investment project of Saudi Arabia in the country. The proposed ARAMCO oil refinery, termed as ‘state-of-the-art facility’, will have capacity of 250,000 to 300,000 barrels per day. The site has been identified, and land allocated for the project. The proposed refinery will facilitate to secure long-term buyers of Saudi oil, including China. A pipeline from Gwadar to Kashgar will reduce the oil supply time from present 40 days to only 7 days on its completion. Construction...


By Sirajuddin Aziz

Only Jonathan Swift’s, Robinson Crusoe could afford to live by himself; otherwise humans, nay all living beings, need companionship. In the formative years of childhood, I recall, the clearance I had to seek from my elder siblings, for making friends, with either school mates or the children in the neighborhood; even cousins of my age, had to pass ‘their’ test, for me to get a stamp of approval, even as the children, of say today “hang out”. At school too, we were made to read Dickens, Oliver Twist, to learn amongst many things how important influence , “company” plays in forming our character -- Oliver, did not wish to be a...


By Edward Luce

Bernie Sanders has much to answer for. If he had called himself a social democrat as opposed to a democratic socialist at the start of his first White House bid in 2015, US politics might have taken a different turn. But he has made the word socialist common currency. Between a fifth and a third of Americans tell pollsters they embrace the label depending on how the question is posed. That is similar to the range of Donald Trump’s core support base. The “exhausted majority” who dislike both camps might want to hibernate for the next couple of years. The two sides are defining the 2020 election.Not many American socialists, however,...