Historically, Pakistan has had a dismal saving rate — well below its regional peers. This, however, does not necessarily signify a low propensity to save. Many Pakistanis, especially women, use an age-old, informal saving mechanism known as a “committee”, whereby a group of people pool money each month and the entirety of it goes to one of the participants. The process recurs every month until
Pakistan’s strategic position offers distinct economic benefits, with a 290,000 square kilometre exclusive economic zone and an approximate 1,001km coastline. In the context of the blue economy, a comprehensive range of sectors such as fisheries, aquaculture, renewable energy, shipping, shipbreaking, offshore minerals, tourism, etc., are included. Pakistan has significant unexploited marine res
Optimists refuse to surrender to the evident negatives and risks in a world plagued by lingering conflicts in Gaza and Ukraine. Despite politically rooted challenges, they envision stronger UK-Pakistan relations, driven by high trade potential in services. As Pakistan’s economy gains breathing space with a three-year $7 billion International Monetary Fund deal, Prime Minister Shehbaz Sharif ple
Life for ordinary Pakistanis may continue to be challenging not only through this fiscal year but for the next two years as well due to the high levels of taxes that will remain in place and the additional services that will be brought into the tax net during these three years to meet the Internal Monetary Fund’s (IMF) demands. The recently negotiated $7 billion IMF loan package, whose final ap
Under the International Monetary Fund’s (IMF) influence, the federation and the provinces have committed to taking appropriate measures to remove distortions in fiscal federalism. Provincial revenues are to be significantly improved while renewed efforts are made to balance federal and provincial spending. Though it is a challenging agenda, as past experience shows, one expects that serious eff