IN a Tedx talk I gave last year, I argued that Pakistan shouldn’t be called the Islamic Republic but rather the One Per Cent Republic. Opportunities, power and wealth here are limited to the top one per cent of the people. The rest are not provided opportunities to succeed. Pakistan’s economy thus only relies on whatever a small elite can achieve. It remains underdeveloped as it ignores the tal
THE FATF has placed Pakistan on its ‘increased monitoring list’, also known as the ‘grey list’, multiple times since 2008. Those countries whose names appear on this list commit to actively working with the FATF to address strategic deficiencies in their regulatory frameworks to combat money laundering, terrorist financing, and proliferation financing. In its announcement on Oct 21, the FATF st
Speakers at a consultative meeting on Wednesday warned the government that the highest-ever inflation may lead to widening inequality in Pakistan and urged for evidence-based monetary policy to ensure economic justice. Keynote speaker Mirco Günther, Head of Friedrich Ebert Stiftung (Asia & Pacific), said that think tanks can play a vital role in the formulation of a monetary policy that may sup
State Bank of Pakistan (SBP) Governor Jameel Ahmad has launched the Environmental and Social Risk Management (ESRM) Implementation Manual for banks and development finance institutions (DFIs), a press release said on Wednesday. The SBP governor launched the manual at a Sustainable Banking Conference held in collaboration with the International Finance Corporation (IFC). While delivering the
Finance Minister Ishaq Dar on Wednesday said Pakistan will receive $500 million as co-financing for a development programme from the Asian Infrastructure Investment Bank. The Building Resilience with Active Countercyclical Expenditures Programme is an Asian Development Bank (ADB) financing programme to counter the social fallouts of economic crisis. “These funds will be received by the State