The State Bank of Pakistan has predicted even slower economic growth in the fiscal year 2019-20, putting a damper on the ruling party’s claims of improvement coming soon. The fact that the announcement comes so soon after the federal budget, where the Planning Division set a 4 per cent...
Currency devaluation helps those countries which have a large industrial base or have a substantial export-based economy, where the high valuation of local currency makes them less competitive. Devaluation in such cases makes their products and prices more competitive in the international marketplace. The devaluation of approximately 32% of the...
The incumbent government presented its first formal budget of 2019-20 in June. The total budget outlay is Rs- 8,238.1 billion with 38.9 % higher than the size of previous budget. The target for expenditures is set at Rs 8,238.1 billion and Rs 3,462.1 billion for net revenues. For Public...
THE government has set itself a very ambitious revenue target for the coming fiscal year. More than that, it is generating serious momentum for changing the prevalent tax culture in Pakistan. For this, one must appreciate their intent and goal. As of now though, there are some glaring issues...
The Pakistan Economic Survey for 2018-19 was released last month. This was immediately followed by the presentation of the Federal budget documents for 2019-20 to the National Assembly. The Pakistan Bureau of Statistics (PBS) continues to publish on a monthly or weekly basis the statistics on key indicators...
The decision of the International Centre for Settlement of Investment Disputes (ICSID) awarding 4.08 billion dollars as penalty and 1.87 billion dollars as accrued interest against Pakistan and in favour of Tethiyan Copper Company (TTC) and its earlier order awarding a penalty of 780 million dollars, which carries an...
THE next phase of CPEC was supposed to have been under way by now, with large Special Economic Zones being opened up and Chinese investors invited to acquire stakes, either via joint ventures, public-private partnerships or direct foreign investment, in various sectors of the economy. All the movement on...
The debate on judicial activism versus judicial restraint is a never-ending one. Let alone politicians – who normally end up at the receiving end of court orders ‘correcting executive excesses or lethargies’ – there are lots of eminent judicial experts who believe members of the judiciary should stay away...
For the past 10 months of the PTI’s rule, the economy has remained on the centre stage of our media discourse. The reason for that is very simple – the battering that our economy got since this government came into power has been unprecedented. tax So even though the current...
The uploading of the International Monetary Fund (IMF) staff report on its website this week past highlights two major thrusts of the thirty nine-month Extended Fund Facility (EFF) that are not in conformity with past programmes and whose impact is being felt by the general public as opposed to...

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A tale of two budgets

About a fortnight back the Indian Government announced its first post Elections 2019-20 Budget, and it will be interesting to see how it compares...