Construction is an important industry which although despite only accounting for 3% of the GDP directly in the economy through its linkages with other important industries holds great significance. Given the strategic importance of the construction industry, it is often used by governments and policymakers to spur investment in the economy and revive growth through …
Economic growth should be our single most important priority. Governments and people should dream of nothing else. This is the way followed by countries like China, Korea, and Vietnam when they wanted to grow. China even gave up ideology to seek practical solutions to growth including opening up their economy. Pakistan lacks that single-minded determination …
Design a tax compliance system that will not discourage taxpayers from participating. More important than the level of taxation is how revenue is used.
Price stability is imperative in economics. Independent central banks have, therefore, been encouraged by the IMF in all countries with a clear mandate to achieve a low inflation target. It is well accepted that long-run sustained growth requires a stable low inflation environment. Curbing inflationary pressures is not costless. The tradeoff between growth and inflation …
The novel corona virus has exposed the weakness of our development planning. We have plush roads for our cars, but our health industry remains stagnant . We have 200 universities with few accomplished professors to lead the research effort to fight the corona. By design, the focus of the Public Sector Development Programme (PSDP) is …
Foreign consultants and donors seek to achieve narrow shortterm interests through their aid. It causes a greater risk to detracting attention, resources and efforts from the primary objective of sustainable development
The paper is focusing on the epistemology and the constraints faced by the process of policymaking in Pakistan. It suggests the correct macroeconomic approach for Pakistan. First of all, we need to end austerity, which is a primary condition of the IMF adjustment program. It remained in practice to cut expenditures and raise taxes on …
Macroeconomic Research and Policy Making Processes and Agenda Read More »
“We find two great gangs of political speculators, who alternately take possession of the state power and exploit it by the most corrupt ends — the nation is powerless against these two great cartels of politicians who are ostensibly its servants, but in reality dominate and plunder it.” ~ Friedrich Engels Typically, ‘elected’ dynastic governments …
Our public-sector enterprises are bleeding cash at a rate of c Rs1.5 trillion a year. In the energy sector alone, we have lost Rs5.5 trillion. Foreign investment contracts are bungled – Reko Diq and Karkey arbitrations alone resulted in a penalty of $7 billion. The investigative committee reports have shown a policy capture in sugar …
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