Stories about economic growth

Will Sharif be able to follow Mahathir and Erdogan?

As I read some of the statements made by the Turkish Prime Minister, Recep Erdogan, and the reactions following them, a feeling of deja vu overcame me. Haven’t I heard (all) this before? In the late 1990s, the former prime minister of Malaysia, Dr Mahathir Mohamad, was facing an Asian financial crisis. Just like Erdogan is doing now, he blamed the West, the Jews and the currency speculators for the crisis and thus, restricted people’s right to freedom. Unsurprisingly, he was also accused of being authoritarian, anti-Semitic and a propagator of far-fetched but dangerous conspiracy theories. But these are not the only similarities between the two prime ...

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Pakistani housewives and the economy: Converting rupees to dollars… for handbags

A couple of days ago I was confronted by an alarming fact. I was sitting with a group of housewives and was told that every month, 30% of those present, converted their pin money into US dollars every month. I was so surprised that I blurted, “But why do you do that?” One of the housewives replied very innocently, “Well, every year when we go on holiday, I buy myself a handbag. Recently, I realised that the value of the dollar is going up and I end up paying more PKR for a handbag each year. So now I just convert my savings into US dollars each month.” What ...

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Democracy cannot work in Pakistan, not yet

In 2015, we will celebrate our 68th year of independence. In these 68 years, the world around us has changed a lot. For better or for worse, we too have changed as a country. The only thing that has remained constant for us over time is the ever prevalent outcry for a democratic political system. To put it in the simplest of terms, a democratic system is one in which a government is elected by a voting process where every eligible citizen is entitled to vote. It is not however ‘majority rules‘ as many of us assume it is — that is a fallacy. ...

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Will Imran Khan end corruption in K-P in 90 days?

With the Pakistan Tehreek-e-Insaf (PTI) government formed in Khyber Pakhtunkhwa (K-P), a lot is expected from the political party. Successfully governing such a challenging region would be nothing less than a miracle! Directly or indirectly, the political administration of K-P also involves the critical management of Federally Administered Tribal Areas (FATA) affairs. The PTI’s electoral victory in the region shows the unparalleled confidence the people of the province have in them, but by spreading hype of fulfilling high expectations, the party is in for an uphill task. The PTI team needs to first understand and rationalise the existing problems and then formulate and implement feasible solutions ...

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