Based on traditional wisdom, Chinese visionary leadership has launched unique approach in the geopolitics, which is gaining momentum globally. By Prof. Engr. Zamir Ahmed Awan While news of wars, tensions, confrontations, killing, bloodshed, massacre and genocide are coming from Western world. China is a unique country talking about peace, developments, and prosperity. Beijing has launched several initiatives like global security, global development, global prosperity, poverty eradication, global health, and shared. China is an old civilization and having passed several ups and downs in the history, especially being victim of the Western imperialism, Beijing has learned bitter lessons. The Opium War I & II, and Japanese aggress...
January 2, 2024 at 4:43 pm | Economic Affairs
The IMEEC project carries substantial political and economic significance. It seeks to strengthen trade and investment ties between India and the rapidly growing economies of the Middle East and Europe. By Qamar Bashir The India-Middle East-Europe Economic Corridor (IMEEC) stands as a visionary proposal aimed at creating a robust trade and investment network that would seamlessly link India, the Middle East, and Europe. This ambitious undertaking holds immense promise in terms of bolstering economic growth, fostering regional cooperation, and serving as a counterbalance to China's expansive Belt and Road Initiative (BRI). In the following discussion, we delve into the origins, significance, and potential impact of the IMEEC projec...
September 21, 2023 at 1:43 pm | Economic Affairs
In the near future, Pakistan may benefit from a harmonious alignment of government, Senate, judiciary, and the military—a formidable force that aims to combat entrenched mafias and steer the nation toward justice and prosperity. By Qamar Bashir These are undoubtedly extraordinary times in Pakistan, marked by an unprecedented alignment of leadership in all three branches of the state, all of which are now being led by individuals from Balochistan. This represents a significant shift in the landscape of governance and the vision for the nation. Muhammad Sadiq Sanjarani, who has served as the Chairman of the Senate since his inauguration on March 12, 2018, is known for his amiable and straightforward demeanor. He excels in building...
September 21, 2023 at 1:38 pm | Economic Affairs
Pakistan plans to increase its percentage of renewable energy to 60% in 2030 to reach its net zero emission goal as part of the Paris Agreement on Climate Change. Dr Abid Rashid Gil Energy transition in Pakistan is indeed a need of the hour. As a developing country with a rapidly growing population and expanding economy, Pakistan faces significant challenges in meeting its increasing energy demands while addressing environmental concerns. An energy transition involves a shift from traditional, fossil-fuel-based energy sources to cleaner, renewable, and sustainable alternatives. Such a transition is crucial for Pakistan's economic development, environmental sustainability, and social well-being. Pakistan's power generation relie...
September 13, 2023 at 7:14 pm | Economic Affairs
Pakistan's economy has been hit hard by the smuggling of petroleum products from Iran, leading to a staggering loss of revenue. By Qamar Bashir In an extraordinary development, Pakistan's Army Chief has recently taken a proactive role in addressing the nation's pressing economic challenges. This departure from the norm, where civilian authorities typically handle such matters, was marked by meetings with prominent businessmen from Karachi and Lahore. During these dialogues, the business community shared their concerns and presented a multitude of suggestions and demands aimed at salvaging Pakistan's sinking financial ship. These conversations illuminated the dire economic situation in the country and highlighted a central issue: t...
September 11, 2023 at 2:32 pm | Economic Affairs
In a momentous meeting, Qaiser Nawab, a renowned Pakistani youth leader and President of the Belt and Road Initiative for Sustainable Development (BRISD), called on Her Excellency Mrs. Neo Jane Masisi, the esteemed First Lady of Botswana. This significant encounter serves as a testament to the strengthening of international bonds and mutual growth. During this remarkable visit, Qaiser Nawab had the privilege of experiencing the warmth and hospitality of Botswana. His stay in this beautiful country has been nothing short of extraordinary, and he's been deeply impressed by the nation's unique attributes. Botswana's rich cultural heritage, coupled with its strategic centrality within Southern Africa, has left a lasting impression. H...
September 11, 2023 at 1:51 pm | Economic Affairs
Tax reforms are need of the hour, and the next Government must ensure that it embarks on this difficult but mandatory path of tax reforms. M. Amayed Ashfaq Tola & M. Ahsan Ahmed Recently, an article was authored by Shahbaz Rana in the Express Tribune, highlighting that the Salaried class paid tax worth PKR 264.5 billion on their income in Fiscal Year 2022-23 (“FY23”), whereas, the exporters paid PKR 74 billion in taxes, and retailers paid PKR 15.6 billion in taxes. This data is a worrisome reality of the inequitable taxation system of Pakistan. However, this is just the tip of the iceberg. This article aims to explain as to why tax reforms are needed in Pakistan, and that tax reforms in Pakistan are inevitable...
September 1, 2023 at 5:05 pm | Economic Affairs
The core achievements of the past decade span across economic, social, and strategic domains, shaping the trajectory of Pakistan and China for the better. Prof. Engr. Zamir Ahmed Awan As we mark the 10th anniversary of the China-Pakistan Economic Corridor (CPEC), the air is filled with excitement and optimism, reflecting the remarkable achievements and boundless potential that this partnership holds. The visit of Chinese Vice-Premier Hi Lifeng to Pakistan to commemorate this milestone is not merely a ceremonial affair; it is a testament to the enduring friendship and shared vision that underpins the journey of economic, social, and strategic advancement embarked upon by both nations. The China-Pakistan Economic Corridor (CP...
September 1, 2023 at 4:55 pm | Economic Affairs
Pakistan's history of nation building is, however, a long list of missed opportunities due to lack of recognition of merit and rule of law. Every regime has left a worse legacy than its predecessor. Syed Hasan Javed When everyone was giving up on Pakistan Economy, including Pakistani investors themselves in 2015, China came along with its US$ 46 billion China Pakistan Economic Corridor (CPEC) investment in the three Five Year Phases (2015-2030) projects. Given our Westernized Colonial template of education and mindset issues there were no shortage of Sceptics and Detractors, questioning the veracity, capacity, security and the ground reality for these Projects to be implemented. CPEC initiative harnessed the hundreds of 'sh...
September 1, 2023 at 4:37 pm | Economic Affairs
Keeping in view the dismal state of the economy, a Special Investment Facilitation Council (SIFC) — a hybrid civil-military forum has been set up by the government of Pakistan to attracting and facilitating investment in the country. Dr. Talat Anwar In June 2023, in the backdrop of historically high inflation at 38% and 0.3% annual GDP growth, amid default risk on debt obligations owing to abysmally low forex reserves of $3.5 billion, the government presented an expansionary budget with total expenditure of Rs14.46 trillion, more than half of which will be utilised to service the growing debt. This would result into the ever highest fiscal deficit of Rs. 7.5 trillion in the history of Pakistan. FBR tax revenue target of Rs. 9.2 ...
September 1, 2023 at 4:27 pm | Economic Affairs
Pakistan has a history marked by a series of political transitions, including changes in government, shifts between civilian and military rule, and various constitutional developments. Saqib Rafiq Notwithstanding the fact, the relationship between the economy and political transition in Pakistan is complex and has significant implications for the country's development and stability. Pakistan has a history marked by a series of political transitions, including changes in government, shifts between civilian and military rule, and various constitutional developments. Here are some key facts in Pakistan's history of political transitions: Independence and Early Years (1947-1958): Pakistan gained independence from British rul...
September 1, 2023 at 4:19 pm | Economic Affairs
Dr. Hassan Daud Butt Economic integration has the most transformative influence and consequently, the greatest economic impact on the region's underdeveloped areas. Transforming economies through regional integration involves fostering deeper economic cooperation and collaboration among neighboring countries within a specific region. It aims to enhance economic growth, competitiveness, and development by leveraging the collective strengths of the participating nations. Regional integration can take various forms, including free trade agreements, customs unions, common markets, and economic unions. Without actively participating in regional and international cooperation frameworks, no nation can sustain economic growth. Regional c...
September 1, 2023 at 4:09 pm | Economic Affairs
Fundamental direction of Pakistan economic growth model should be synchronized with green growth to eliminate black footprint in the process of economic development and sustainable growth. Prof. Dr. Muhammad Naveed To uplift economic advancement and financial capitalization, green growth has become strategy of economic development across emerging and advanced countries. In purview of economic turmoil and global climate change, green economy has become underlying mechanism beyond environmental economics and has become mainstream politics and business drive across the world. In addition, consistent with Principals of Responsible Investment (PRI), United Nations 2023 Agenda for Sustainable Development Goals (SDGs) has signified t...
September 1, 2023 at 3:54 pm | Economic Affairs
Pakistan's susceptibility to a multitude of disasters underscores the urgent need for comprehensive disaster risk management strategies. How NDRMF is addressing the challenge? Bilal Anwar Pakistan stands at the crossroads of some of the highest disaster risk levels globally, with consistent ranking as the sixth most vulnerable country according to the German vulnerability risk index. This vulnerability stems from the nation's exposure to a diverse range of disasters, including floods, heatwaves, tropical cyclones, and droughts. These risks are further compounded by socio-economic vulnerabilities, particularly multidimensional poverty. In 2022, Pakistan experienced devastating floods that continue to inflict ongoing damage. Unprece...
September 1, 2023 at 3:45 pm | Economic Affairs
Unlike traditional caretaker chief ministers, Naqvi's tenure exemplifies the power of effective leadership and innovative strategies in transforming public service delivery. Kashif Rizwan In the intricate tapestry of public administration, the role of a chief minister holds a pivotal position, shaping the trajectory of a region's progress and the lives of its citizens. Amid the numerous caretaker chief ministers who have come and gone in Pakistan since the 1980s, Mohsin Naqvi has emerged as a unique and trailblazing figure. His tenure has shattered the conventional mold of temporary leadership, ushering in an era of transformative governance and innovative strategies that have revitalized the province of Punjab. In the realm o...
September 1, 2023 at 3:34 pm | Economic Affairs
The IMF projections in the new Stand-By Facility for Pakistan are more conservative, and see greater persistence of stagflation. The GDP growth rate is projected at 2.5% and the rate of inflation at close to 26%. Dr. Hafiz A. Pasha The year 2022-23 witnessed the worst from of 'stagflation' in the history of Pakistan. Primarily due to the ravages of the floods and severe physical restrictions on imports of raw materials and inputs, the GDP growth rate is likely to have been significantly negative. Simultaneously, due to large supply shortages and the 40% devaluation of the rupee, the rate of inflation rose to a monthly average of 29.2%. The unemployment rate has risen to 8.5%, with almost two million workers losing their jobs d...
September 1, 2023 at 3:04 pm | Economic Affairs
Pakistan Rupee Exchange Rate