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...
A briefing on the economy, presided over by the State Bank Governor, Dr Reza Baqir, was held in Karachi on 9th July to explain the fiscal and current account situation, exchange rate policy, inflation, IMF programme, the FATF challenge and investment in government bonds by foreigners. According to the...
There is ample evidence to suggest that a lot of smuggling of goods is taking place between Pakistan and Afghanistan mainly due to porous borders. Taking a serious note of the situation, the Competition Commission of Pakistan (CCP) has urged upon the FBR and Ministry of Commerce to rationalise...
The business of legislation has been experiencing hiccups ever since the formation of the assemblies on the basis of the 2018 general election results. Parliament remained deadlocked for first hundred days of the new government for the simple reason that the PTI and its allies could not form the...
The federal government has reinitiated its age-old quest for offshore bank accounts. The Federal Board of Revenue (FBR) has empowered the Directorate General of International Tax Operations to go on the latest treasure hunt under Section 230-E of the Income Tax Ordinance, which had been on the books since...
As per a Business Recorder exclusive, four critical legislations are pending due to the ruling party's refusal to form a working relationship with members of the opposition: the State Bank of Pakistan (SBP) Act, the National Electric Power Regulatory Authority (Nepra) Act, the State-Owned Enterprise (SOE) Act and the Anti-Money Laundering...
Food price increases have always been a hot topic for discussion in our country, but perhaps never as much as now. The cost of food in Pakistan increased 7.52% in June 2019 over the same month in the previous year whereas it had averaged 4.67% from 2011 to 2019....
As details of the new financial bailout agreement with the International Monetary Fund (IMF) trickle in, it is becoming apparent that as a country, we have now been firmly in the debt trap. Even the loans obtained by us on ‘soft’ conditions from friendly countries are after all loans...

Opinion

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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...