Pakistan’s economy has long been suffering from several structural problems. But instead of finding sustainable solutions to those problems, our successive governments have often relied on quick fixes. These problems have so much compounded that the government of the day alone cannot address them successfully. Problems like alarmingly high levels of domestic and external debts, fiscal deficit,
When historians write about causes that led to the French Revolution, they frequently point out that King Louis XVI’s weakness, indecisiveness, and lack of political insight played a critical role in bringing about the downfall of the House of Bourbon in France. While perusing over the events that led to the Reign of Terror in France, one reads about the indecisiveness of Louis XVI, the failure
The collapse of Credit Suisse, a 167-year-old institution, is a more significant event for the global financial system than the collapse of Lehman Brothers during the 2008 global financial crisis. Lehman failed since it had losses on bad investments and did not have sufficient capital. Credit Suisse on the other hand was stable and had sufficient capital. It failed due to a run on its deposi
It may sound counter-intuitive, but research shows the likelihood of unemployment in Pakistan grows in proportion to the level of education. A poorly developed labour market that’s unable to accommodate a rapidly growing number of educated workers has led to a high graduate unemployment rate. A recent research paper written by Henna Ahsan and Muhammad Jehangir Khan of the Pakistan Institute
Mobile phones worth $7.19 million have been imported illegally without opening the letters of credit (LCs) or utilising the banking channel, disclosed a report of the Federal Board of Revenue (FBR) on Saturday. A senior official of FBR said despite an unannounced ban on the import of mobile phones and their accessories by the State Bank of Pakistan (SBP), 52 Goods Declarations (GDs) worth $8.65