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Articles for tag: Agenda, Aurangzeb, discuss, Donald, FinMins, highlevel, meeting, Pakistans, reform

April 18, 2024

News Desk

FinMins Aurangzeb, Donald Lu discuss Pakistan’s reform agenda in high-level meeting

Assistant Secretary Donald Lu (left) and Principal Deputy Assistant Secretary Elizabeth Horst of the US Department of State meet with Finance Minister Mohammad Aurangzeb at World Bank headquarters in Washington on April 18, 2024. — X/@Financegovpk Lu reaffirms US commitment to strengthening ties with Pakistan. Officials are exploring broadening the tax base, streamlining the energy sector. Privatization was also discussed at a meeting held at the World Bank headquarters. WASHINGTON: Pakistan’s reform agenda was discussed during a high-level meeting between Finance Minister Muhammad Aurangzeb and United States Assistant Secretary of State Donald Lowe. The two officials explored broadening the tax

February 26, 2024

News Desk

100 day agenda for the new government

Islamabad: It is natural for citizens and voters to create expectations from a new government to provide them with relief. A newly elected government, which will hopefully take over in Islamabad soon, will also be under pressure to make such announcements, which can win them acceptance. A new government is often expected to announce a 100-day agenda, and in this article I propose one. Announcements should, in my opinion, be meaningful enough to make an impact and bold enough to signal a change. There is the usual caveat of pragmatism, especially given the IMF programme, but I also see that

February 2, 2024

News Desk

The lack of an economic agenda is testing the PSX

KARACHI: The Pakistan Stock Exchange (PSX) experienced a turbulent run, reflecting the frenzy leading up to the upcoming general elections. The once positive election fervor has turned into election anxiety, temporarily shaking short-term business confidence, despite the prevailing promising medium-term outlook. The KSE 100 index, a benchmark for the PSX, has seen a remarkable 27% rise since the announcement of the election date in the first week of November 2023. Escalating unprecedented heights, it peaked at over 67,000 in mid-December 2023. Scheduled for next week on February 8, 2024, the parliamentary polls initially sparked a rally fueled by optimism around

January 29, 2024

News Desk

Economic revival, CPEC and Agenda 2047 – IV

Islamabad: The China-Pakistan Economic Corridor (CPEC) has the potential to help Pakistan revitalize its economy and set the stage for sustainable development. After the successful completion of the first phase, CPEC has now entered its second phase. CPEC’s long-term document describes industrialization and agricultural cooperation as driving forces at this stage – fortunately, these align with Pakistan’s current focus on rapid industrialization and rural development. However, the second phase of CPEC faces specific challenges unique to its context, in addition to those discussed in the previous article. First, the decision was taken for Pakistan to construct Special Economic Zones (SEZs)

January 12, 2024

News Desk

Donald Trump’s political fraud trial ends with charges of ‘political agenda’

Trump accuses President Biden of masterminding legal actions and criminal charges against him Donald Trump with his lawyers in New York court for the hearing on the political fraud case. — Reuters/File A months-long political fraud legal battle against former United States President Donald Trump ended Thursday with him accusing a New York court of having an “agenda.” Trump has repeatedly denied the fraud allegations and accused the state of political prosecution, Reuters reported on Friday. He told Judge Arthur Engoron: “Go on your way. I know you can’t listen for more than a minute.” In response, the judge told

January 1, 2024

News Desk

Economic revival, CPEC and Agenda 2047 – III

Islamabad: Provincial tax systems and legal requirements further exacerbate the situation. The lack of harmonization in provincial tax policies is one of the biggest obstacles to attracting foreign direct investment. Inconsistency is another issue in tax policy, affecting the confidence of the business community. The most worrying aspect of the system is that it consumes the valuable time of the business community and there is no concept of time management among policy makers. Dispute resolution is another area where the business community has serious concerns. It takes years to settle a dispute. According to the EODB ranking, it takes, on

December 11, 2023

News Desk

Economic revival, CPEC and Agenda 2047 – II

Islamabad: The ruling elite must realize that without overhauling their governance system and business environment, they can neither revive the economy nor achieve the goals of Agenda 2047. So, whether they like it or not, things will have to undergo drastic changes. After analyzing the reality and setting goals, we identified some areas for immediate reforms and revision. These have been divided into two categories – governance and business. Let’s start with governance and institutional reforms. First, Pakistan needs to overhaul its bureaucracy and bureaucratic institutions. The system is old, without features of modern governance. In today’s age of specialization

December 5, 2023

News Desk

Pakistan’s loan tranche review not on IMF board’s agenda until mid-December

This file photo taken on January 26, 2022, shows the seal of the International Monetary Fund (IMF) in Washington, DC. — AFP The IMF may hold consultations for a second assessment probably after the elections. The current SBA program is set to expire on April 14, 2024. Islamabad’s request to complete the first review is yet to be finalised. ISLAMABAD: The International Observatory (IMF) has not included the case of Pakistan in the agenda of the Executive Board meeting for the December 1-15 programme, The news reported on Tuesday. Pakistan is awaiting the approval of the first review to issue

December 4, 2023

News Desk

Economic revival, CPEC and Agenda 2024 – I

Islamabad: Pakistan is desperately looking for options to overcome its economic and financial challenges. These are not new challenges. Economic and financial difficulties have been bedeviling Pakistan for some time now. Successive governments have failed to present any viable solution to overcome these challenges. Instead, successive governments contributed to the worsening of the economic and financial crisis. Bad policy choices and an obsession with donor-funded solutions have worsened the economy. Moreover, short-sighted decision-making by the ruling elite has further complicated the situation. They fail to understand that economic growth and development is not a short-term project. A review of global

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