Remember tax directories. Well, it seems they are now a thing of the past. Not only that the FBR has conveniently failed to release it, but the government has also failed to notify why the taxpayers directory of parliamentarians, individuals, and businesses alike have been unceremoniously delayed by nearly four months.
Globally, it is a well-known fact that law enforcement institutions such as police are the first line of defence, and they play a critical role against any threat to the domestic security of a country. At the same time, the role of police is essential for the establishment of a democratically accountable society and the development of good governance in a country. However, if police are unable and incapable of doing its job, it can be an obstacle and a liability for the very same society it is supposed to protect.
Profitability has returned to Engro Polymer & Chemicals Limited (PSX: EPCL). For the half year ended 2016, the company reported a 10 percent drop in its top line year-on-year, but lower costs helped it achieve a greater gross profit. This, coupled with a significantly lower finance cost, helped the firm to turn a profit of Rs38 million, as compared to the comparative periods loss of Rs435 million.
Retailing is not just booming on the floor, it is teeming online as well. Though varied, estimates for online shopping in Pakistan converge around $60 million per annum. That's a tiny fraction of offline retailing, but growth has been coming in strong. Pakistan's Internet retailing grew in double digits in 2015, as per Euromonitor International. There is plenty to sell to an aspirational, demanding and youthful middle class.
Poverty numbers say Pakistani people are less poor today than they were 10-15 years ago. The old school method of calculating poverty, the Food Energy Intake (FEI) that uses the relationship between caloric intake and household expenditure tells that headcount poverty in 2014 was 9 percent, coming down from 35 percent in 2002.
Last month marked the quarter of a century since the advent of economic reforms in India. On July 26, 1991, then-Finance Minister Dr. Manmohan Singh rose in Indian parliament to deliver an address that would transform India forever. He launched a journey of economic forums that dismantled the decades-old socialist style economy of India that had been running since the independence; and the Indian state was able to officially embrace globalization.