Author Archives: Shahid Kardar
14th May, 2013
Fixing the economy
AS a nation we seem to believe that there is either a magic wand that will make our problems disappear or that undertaking reforms is like fixing an electricity fuse or a leaking tap at home — call an electrician or a plumber to fix the fault.
AS a nation we seem to believe that there is either a magic wand that will make our problems disappear or that undertaking reforms is like fixing an electricity fuse or a leaking tap at home — call an electrician or a plumber to fix the fault.
30th April, 2013
Challenge of GDP growth
LACKLUSTRE economic growth and large fiscal and external imbalances (with declining rates of growth also contributing to poor growth in revenues) have made macro-economic management a challenging task.
LACKLUSTRE economic growth and large fiscal and external imbalances (with declining rates of growth also contributing to poor growth in revenues) have made macro-economic management a challenging task.
16th April, 2013
Expect more of the same
EVEN purveyors of the folklore about the resilience of Pakistan’s economy because of a “vibrant”, largely untaxed (despite its visibility) informal sector would acknowledge that the country faces serious economic
EVEN purveyors of the folklore about the resilience of Pakistan’s economy because of a “vibrant”, largely untaxed (despite its visibility) informal sector would acknowledge that the country faces serious economic
2nd April, 2013
A new IMF programme
THE International Monetary Fund team is seemingly all set to revisit Islamabad soon armed with a new programme for our acquiescence, as we struggle to discharge our dues to them as well as give comfort to the market regarding the level and stability of our foreign exchange reserves.
THE International Monetary Fund team is seemingly all set to revisit Islamabad soon armed with a new programme for our acquiescence, as we struggle to discharge our dues to them as well as give comfort to the market regarding the level and stability of our foreign exchange reserves.
19th March, 2013
Tax reform proposals
PAKISTAN has one of the lowest tax-to-GDP ratios even amongst the bottom ranked developing nations. The following statistics are indicative of the unexploited potential for additional revenue generation.
PAKISTAN has one of the lowest tax-to-GDP ratios even amongst the bottom ranked developing nations. The following statistics are indicative of the unexploited potential for additional revenue generation.
5th March, 2013
Why growth is constrained
THE country will soon have a new coalition government at a time when it will be confronted by issues of a massive budget deficit, the repayments of our external obligations and a rupee under continuing pressure.
THE country will soon have a new coalition government at a time when it will be confronted by issues of a massive budget deficit, the repayments of our external obligations and a rupee under continuing pressure.
19th February, 2013
MFN status for India now
THE Pakistan government had resolved in principle to give India MFN status by end of 2012. Regrettably, it has sought an extension in the implementation of this decision, an outcome that could have been avoided
THE Pakistan government had resolved in principle to give India MFN status by end of 2012. Regrettably, it has sought an extension in the implementation of this decision, an outcome that could have been avoided
5th February, 2013
Limits of strategy
THE government can influence the growth rate primarily by providing an adequate physical and social infrastructure and creating the policy and institutional environment for private-sector investment.
THE government can influence the growth rate primarily by providing an adequate physical and social infrastructure and creating the policy and institutional environment for private-sector investment.
29th January, 2013
The IMF’s visit
THE IMF mission that was in Islamabad ostensibly to discuss the contours of the next programme has gone back to Washington.
THE IMF mission that was in Islamabad ostensibly to discuss the contours of the next programme has gone back to Washington.
22nd January, 2013
Differences in perception
WHY do perceptions vary over the outcomes of government policies and actions? In this writer’s view this is because interpretations and some of the official data may not be consistent with the people’s own experience.
WHY do perceptions vary over the outcomes of government policies and actions? In this writer’s view this is because interpretations and some of the official data may not be consistent with the people’s own experience.
9th January, 2013
SBP allows Fauji to acquire Askari Bank
Market sources said the Askari Bank would be jointly acquired by the Fauji Foundation, the Fauji Fertilizer and the Fauji Fertilizer Bin Qasim.
Market sources said the Askari Bank would be jointly acquired by the Fauji Foundation, the Fauji Fertilizer and the Fauji Fertilizer Bin Qasim.
8th January, 2013
Convoluted expectations
ALL and sundry continue to protest the lending behaviour of commercial banks and their large ‘spreads’ (the difference between the interest rates on their lending and the interest rate that they offer on deposits).
ALL and sundry continue to protest the lending behaviour of commercial banks and their large ‘spreads’ (the difference between the interest rates on their lending and the interest rate that they offer on deposits).
25th December, 2012
The curse of SROs
THE Public Accounts Committee (PAC), and especially its chairman Nadeem Afzal Gondal and member Zahid Hamid, deserve to be applauded for taking up the issue of the notorious instrument called the SRO (Statutory Regulatory Order) and for articulating the need to end the practice of the executive issuing SROs.
THE Public Accounts Committee (PAC), and especially its chairman Nadeem Afzal Gondal and member Zahid Hamid, deserve to be applauded for taking up the issue of the notorious instrument called the SRO (Statutory Regulatory Order) and for articulating the need to end the practice of the executive issuing SROs.
11th December, 2012
Tackling corruption
FEW would disagree with the contention that nepotism, extortion and bribery have become a way of life, and not just with politicians — except that in their case it tends to get exhibited more shamelessly.
FEW would disagree with the contention that nepotism, extortion and bribery have become a way of life, and not just with politicians — except that in their case it tends to get exhibited more shamelessly.
3rd December, 2012
Protecting inept sectors
BY its recent decision to ban imports of five-year-old cars the Economic Coordination Committee couldn’t have expressed a greater indictment of our motor car industry’s inefficiency and inability to compete.
BY its recent decision to ban imports of five-year-old cars the Economic Coordination Committee couldn’t have expressed a greater indictment of our motor car industry’s inefficiency and inability to compete.
27th November, 2012
Growth driven by private sector
The pace of a country’s economic growth depends essentially on private investment. This in turn depends on the political and policy environment and the stock of natural, physical and human resources.
The pace of a country’s economic growth depends essentially on private investment. This in turn depends on the political and policy environment and the stock of natural, physical and human resources.
13th November, 2012
Polarisation blowback
TWO interlinked issues have dogged and bedevilled Pakistan’s growth. These are:
TWO interlinked issues have dogged and bedevilled Pakistan’s growth. These are:
30th October, 2012
Regulation Pakistan-style
IT is time to look at the institutional aspect of regulation which has become the bane of private industry, and an impediment to growth. Getting the government to be an enabler rather than a disabler is the real challenge.
IT is time to look at the institutional aspect of regulation which has become the bane of private industry, and an impediment to growth. Getting the government to be an enabler rather than a disabler is the real challenge.
2nd October, 2012
Economy in troubled times
THESE are abnormal times. How else should one describe the confluence of several crises reinforcing each other and generating an acute crisis of state and society?
THESE are abnormal times. How else should one describe the confluence of several crises reinforcing each other and generating an acute crisis of state and society?
31st August, 2012
Struggling to manage inflation
WE have not been able to overcome inflation. It is high, generalised and well above the comfort level. This is a huge challenge unless we can learn to live with its stubborn double-digit face. This writer would argue that it
WE have not been able to overcome inflation. It is high, generalised and well above the comfort level. This is a huge challenge unless we can learn to live with its stubborn double-digit face. This writer would argue that it
