Stories about GDP

Real estate, the new mafia: How can we fix Pakistan’s housing market?

The new Pakistan Tehreek-e-Insaf (PTI) government’s priority is housing. Providing five million houses would certainly pick up the economy since around 40 industries would be throttled up to meet the demands of around five million houses. This is indeed commendable. Even though the target of five million houses seems a bit far-fetched, one could argue that setting up a lofty goal would actually keep the government on its toes. Even achieving a small percentage of the mighty five million would be a relief for the homeless and relevant industries. For the purpose of land for this scheme, government is eyeing ...

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Sending your child to school doesn’t guarantee that he will actually learn

In a utopian setting, the quintessential scenario for Pakistan would be to educate every child, thus leading to countless benefits, not least in relation to important indicators such as employment, health, equality and so on. Receiving “free and compulsory” education is also a legal constitutional right for every Pakistani child aged five to 16 under Article 25A. However, let’s face the harsh reality: Pakistan is unable to educate every single child. According to budget estimates, the government will only spend around a meagre 2.03% of its gross domestic product (GDP) on education in 2018. This is way below international requirements. Resources are ...

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Can PTI’s mini-budget get the economy out of the ICU and into the ‘recovery room’?

Pakistanis love to bash politics and politicians whenever they face any problem. Slogan after slogan, martyrdom, militarism and affluent status quo is what three generations of Pakistanis have seen. So when Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) claimed to make policies focusing on “uplifting the lower middle class”, even the PTI voters were somewhat sceptical. Alas, critics can be shushed, the mini-budget is out and looks like PTI may have delivered what it promised. Before the official mini-budget announcement, many people were criticising the government for its decision to raise gas prices and income taxes, however, they did not see ...

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In the US-China trade war, Pakistan and the global economy will be the casualties

The year 2017 ended on a positive note, with some major economies leading the “broadest synchronised global upsurge since 2010”, according to the International Monetary Fund (IMF). Markets reacted positively to the improved global economic outlook, giving rise to a flare of optimism in the investor community. Halfway through 2018, however, and the global economic scenario now paints a different picture. China just lost its spot to Japan for the second largest stock market in the world, amid rising tension over the trade war concerns between the two major superpowers. Donald Trump seems to be on board to fulfil his promise ...

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Make matriculation/high school compulsory to vote

On July 25th, Pakistan’s fate, at least for the next five years, will be in its own hands. The future will come down to all of us as we make certain choices in that polling booth. Some of us will still be thinking, weighing pros and cons, measuring the benefits, and calculating the risks. But most of us would have likely made up our minds on who to vote for before judgement day. The next day, Pakistan, a sovereign state since 1947, will see only the second successive transition in democratic power. But I have a question: are all people informed enough to ...

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Why Kalabagh Dam is not the answer to our water woes

A few days back, my views on the futility of Kalabagh Dam published in a national daily evoked a very strong and hostile reaction from many people. I had posed a simple and pertinent question: “If, as is evident, Pakistan will have very little water in future, what will we fill Kalabagh Dam with?” Some people said Pakistan will have enough water forever, while others called me an enemy agent. Before delving deeper into why the dam should not be constructed, I would like to share my own experience of water consumption. Up until 10 years back, I had no idea how much ...

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Is China making Pakistan a client-state with its ‘debt-book diplomacy’?

In Pakistan, China is the most active and positive economic force. So much so that continued cooperation between the two countries is supported by virtually all sides of this otherwise deeply divided country. Everyone from the Taliban to the secularist military leaders view Chinese investment as a boon to the country, the main source of job creation, and, in all truth, the most promising source of kickbacks for themselves. It certainly is the case that the infrastructure projects part of China’s One Belt One Road (OBOR) initiative are the most significant economic development stimulus in the economically underdeveloped country, and the ...

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International Women’s Day: What if women started getting paid for household work?

“So do you work or are you just a housewife?” I remember being asked this question many times by people I was meeting for the first time. I also remember asking other women the same insensitive question, simply because I too, like so many of us, had been conditioned to only value work that gets remuneration in return. Looking back, the years during which I took a hiatus from work as a journalist, because I was looking after a home and my family, were the years I perhaps worked the hardest. Even physically. Imagine for a moment that the women all around us ...

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Khursheed Shah should take a look at PPP’s abysmal economic performance before pointing fingers at PML-N

Any accusation, any labels of incompetence hurled at Pakistani politicians have a very easy retort – the other guy is worse. Since a new election is on the horizon, our politicians have taken to this time honed art of mud-slinging with a new fervour. Khursheed Shah has come out with a statement that Pakistan’s economy has significantly deteriorated during the tenure of the Pakistan Muslim League-Nawaz (PML-N) government. Perhaps he’s forgetting Pakistan Peoples Party’s (PPP) very dismal economic performance during its last stint. There are many facets of governance and politics which are hard to measure. Fortunately, economic performance is not one of them. ...

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The fall and fall of Pakistan’s economy in 2017

There were a lot of fairly good economic indicators seen in 2017, such as the following: – An 8.5% growth in Large-Scale Manufacturing (LSM), – An inflation rate of 3.9%,  – A super-strong growth in lending to the private sector, – A 74.4% growth in Foreign Direct Investment (FDI) worth $939.7 million, – A 19.5% growth in the Federal Board of Revenue (FBR) Tax Revenues and a double-digit growth in exports Amidst these “good” indicators, less focus was paid to the depleting foreign currency reserves and burgeoning imports. Whether this is due to Mr Ishaq Dar being pre-occupied during the year, trying to save himself and his boss from the aftermath of the Panama leaks, or merely because the ...

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