Sunny
High: 33°C
Low: 27°C

Stories about economy

Doctors, where art thou?

Pakistan has a count of ‘athara crore awaam’ (thank you, dear politicians, for continuously repeating this in the television talk shows) while the doctor/patient ratio was a mere 1:1,800 in 2010 – that means a single doctor catered to the medical woes of 1,800 people, and the situation has not seen much improvement ever since. The constitution of Pakistan clearly describes that the state has a responsibility, “To provide basic necessities of life, such as, food, clothing, housing, education and medical relief, for all citizens, irrespective of sex, caste, creed or race.” But where does the problem lie? It lies in the fact that ...

Read Full Post

Asad Umar: From Engro to Imran Khan

After all the negativity attached to our trembling politics, corporate tycoon Asad Umar’s addition to the scene is a welcome surprise. Who is Asad Umar? Asad has been with the Engro Corporation for the last 27 years in different capacities, before he finally assumed the position of company CEO and president in 2004. During this period, he played an active role in the complete transformation of his conglomerate, and converted it into a diversified industrial business, with interests ranging from fertilisers, foods, petrochemicals, chemical storage, energy and commodity trading. An amicable and intellectual personality, Umar has enjoyed a great reputation amongst his friends and colleagues. A ...

Read Full Post

Lifestyle Pakistan: To India, with love

If India and Pakistan had to update their status vis-a-vis each other on Facebook, what would they write on their page? Would it be ‘divorced’, ‘separated’, ‘it’s complicated’, ‘single’ or ‘in a relationship’? Seeing their mood and bonhomie these days the most appropriate status update would be “in a relationship”. After the 26/11 Mumbai attack in 2008, the two neighbours almost separated and their relationship remained complicated for two years. However, with the passage of time the wound started healing and a new realisation dawned on them; that it’s futile to lead separate and complicated lives just because of some ...

Read Full Post

Corruption farce?

The present era is being called the age of corruption by many in Pakistan. Ranging from the National Reconciliation Ordinance to the growing allegations of corruption within state institutions, the perception of the current regime being highly corrupt has solidified. Despite its dominance in popular discourse, there has been little effort made to understand the global political context in which the anti-corruption rhetoric has developed. It is essential for Pakistanis to understand where the anti-corruption slogan is coming from. Ivan Krastev in his 2004 book titled Shifting obsessions: three essays on the politics of anti-corruption, writes: “It was the new anti-corruption rhetoric ...

Read Full Post

India and Pakistan’s role in Afghanistan

For the last decade or so, the global community has been fighting a war in Afghanistan which has its roots originating from the Soviet-Afghan war of the 1980s. The current war has various stakeholders involved who are vying for greater influence in the region which also includes South Asian arch rivals India and Pakistan. On a historical note, the American and Pakistani leadership of the 1980s sought to eradicate the USSR’s geo-strategic agenda in Afghanistan by training large numbers of local and foreign militants in the name of ‘Islamic jihad’. These militants were indirectly funded and trained by the CIA and the ...

Read Full Post

Food business: Branded versus unbranded

One of the most successful CEOs in Pakistan’s corporate history once remarked that promoting corporate farming brazenly in a country like ours was ‘criminal’ because it was likely to hurt the livelihood of people associated with agriculture, dairy and livestock sectors. Of course, his opinion matters and can’t be dismissed as the rant of a so-called leftie. However, I’m not sure if protecting the source of livelihood of a select few at the expense of the overall market efficiency should be a preferred alternative either. We’re all driven by self-interest, and my interest as a consumer who lives in an ...

Read Full Post

How the mighty dollar weakens the rupee

Money only holds value because there are goods and services available to buy with that money. It is the goods and services that create a value for that money. Coconut water would be more valuable on a treasure island than kilos of gold. In that circumstance, it’s not the value of coconut water that has increased, but the diminished value of gold that is being reflected. The fewer goods and services available, the lesser the value of money – even if it is a pile of gold. Pakistan currently produces cotton, rice, fish, fruit, vegetables, pulses and much more. These ...

Read Full Post

Iran, laughing in the face of nuclear disaster

Iran has launched a four day military exercise to show its strength in the wake of rising tensions with the international community and possible military action against them. Getting into gear, their Revolutionary Guards as well as their ground troops and air defenses, Iran is ready for anything. Coinciding with the show of strength is a two day UN inspectors’ visit to Iran, the second visit this month. Led by Herman Nackaerts, the team hopes to achieve access to Parchin military base, as well as talk to question Iran’s nuclear scientist. The inspectors, however, will not be visiting any nuclear ...

Read Full Post

Infinity and beyond: Space exploration for Pakistan

July 21, 1969 was seen by many as the culmination of man’s evolution from a cave-inhabiting savage to an astronaut. That landing on the moon owed more to the imagination overdrive of the Western civilization than the technological advancements of the time. Looking at it from a purely economic point of view, it would be safe to say that space programs around the world have introduced spin-off technologies that have actually sped up human technological evolution and had a major impact on our daily lives. Now let us descend from the lofty heights of the western civilisation’s achievements in space and have ...

Read Full Post

Lessons in political rhetoric

For a while now a number of ‘issues’ are in the limelight in Pakistan. Every single politician talks about them, every analyst discusses them and the whole population chimes about them literally every single day. But the thing is at no point are those issues actually looked at and the truth behind them explained. Take power outages, every single person in the country discusses the issue, shows their anger about it and the media highlights it. But at no point does anyone explain exactly how and why it occurs. Now you may ask why is it important to understand why ...

Read Full Post