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May 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Shabir Ahmed

Reko Diq: Exorbitant penalty or small price to pay?
Print

Reko Diq: Exorbitant penalty or small price to pay?

Prime Minister wants to set up yet another Commission. The latest one seeks to assign responsibility for the abortion of Balochistan's Agreement with Tethyan Copper Company (TCC). The terms of reference of the Commission are yet to be made public but oste
Published 25 Jul, 2019 12:00am
When luck meets the road
Print

When luck meets the road

Resolve, risk taking - and luck - define Imran. His resolve may have shades of obstinacy but for a quarter of a century he has wanted to be the PM and there he is. His risk taking may have a hint of bravado but in cricket as well as private and public lif
Published 22 Jul, 2019 12:00am
Towards self-reliant defence capability
Markets

Towards self-reliant defence capability

It is reassuring to hear Governor State Bank proclaim, every opportunity he gets, that things are getting better. He also wasted little time in pronouncing 'economic stability' soon as the IMF Board approved the programme.
Published 18 Jul, 2019 12:00am
It can be different this time
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It can be different this time

In a recent article IMF Director for the Middle East saw in government's perceived commitment hope that 'this time it will be different'. Would it be different enough to make it our last IMF programme, something that Asad Umar had promised but his success
Published 11 Jul, 2019 12:00am
Industry-defence nexus
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Industry-defence nexus

A country's defence preparedness demands self-reliance to the extent possible. This, in turn, requires a strong manufacturing base. Import of critical parts and components becomes uncertain during times of war, leaving you with the expensive and inefficie
Published 04 Jul, 2019 12:00am
Budget 2019-20: price to pay for a brighter future?
Markets

Budget 2019-20: price to pay for a brighter future?

Some find the budget 2019/20 harsh; others expected a tougher one. Some see in it a sinister foreign hand; others the inevitability of it -'home-grown solutions' would merely prolong the agony. On the whole, after all the kicking and screaming, most see i
Published 20 Jun, 2019 12:00am
It is not the economy, stupid
Markets

It is not the economy, stupid

State of the Economy -IMF, FATF, Taxation, Interest and Exchange rates, Inflation, Energy prices, stock market, trade and tariffs - is hogging the public space. We too plead guilty to the charge of OD'ing on economic marijuana. Only occasionally have we f
Published 13 Jun, 2019 12:00am
Who is afraid of IMF?
Markets

Who is afraid of IMF?

That one dissident excepted, Economic Advisory Council was unequivocal in telling the PM it was the IMF or the highway. Now we almost have the IMF, after Washington messaged, unequivocally, it is their terms or the highway. All our economic gurus wanted t
Published 30 May, 2019 12:00am
When top management gets into the front office
Markets

When top management gets into the front office

Last Wednesday newspapers juxtaposed two stories. In one the PM met the Army Chief to discuss 'security matters'. In the other, the PM met the exchange companies to read them the riot act. The former is unsurprising; the latter mind-boggling.
Published 23 May, 2019 12:00am
FBR: more sinned against than sinning?
Print

FBR: more sinned against than sinning?

People use choice words to describe the FBR but let's just call it dysfunctional. It is inefficient and customer unfriendly, spends more on itself than what it collects, and is far from being a paragon of virtue. It is a principal cause of our IMF addicti
Published 16 May, 2019 12:00am
Consumer interest losing to producer interest?
Print

Consumer interest losing to producer interest?

Producer and consumer interests do not have to be antagonistic forces, one at the cost of the other. In fact, successful societies seek a convergence of the two. Efficient producers give the consumers a better deal and create jobs. In return, producers ge
Published 09 May, 2019 12:00am
The End of History and the Last IMF
Markets

The End of History and the Last IMF

In his 1992 book The End of History and the Last Man Fukuyama argued that following the end of Cold War liberal democracy and capitalism were here to stay. He didn't think it was a period of history but the end of history; the end point of our ideological
Published 02 May, 2019 12:00am
It's all about trade-offs, Prime Minister
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It's all about trade-offs, Prime Minister

Welcome back, Hafeez Shaikh. We know you to be a man for all seasons, and perhaps you can do the impossible; but miracles? And never mind the cynical view that Economists are brilliant at analyzing the past but not solving today's problems.
Published 25 Apr, 2019 12:00am
Corruption versus competence debate
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Corruption versus competence debate

Atif Mian, the deposed member of the Economic Advisory Council, won't let us forget him. He keeps twittering his views on a range of subjects that have a topical interest for us, from industrial policy to issues of growth and inequality to incompetence.
Published 18 Apr, 2019 12:00am
Could another finance minister do it better?
Markets

Could another finance minister do it better?

Asad Umar is getting a lot of flak. Does the fault lie in his not doing a better job, or lack of viable options? Opinion is divided. Most would allow more time but early signs hold out little promise. Charge of dithering, if not incompetence, is gaining c
Published 11 Apr, 2019 12:00am
Karachi's street Children
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Karachi's street Children

You see them all the time. You don't notice them every time. They are there at the traffic lights selling pens or wanting to give your windscreen a nice wipe. They are there scavenging, hoping to eke out a living through your trash. The perceptive see the
Published 04 Apr, 2019 12:00am
Trade officers: putting the job before the task
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Trade officers: putting the job before the task

Reportedly, the Prime Minister has approved the policy for posting of Trade Officers abroad. Among other things, it has been decided to earmark a 'quota' of 20% for expat Pakistanis, create trade clusters, and have IT-based monitoring and evaluation of pe
Published 28 Mar, 2019 12:00am
What's going on?
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What's going on?

Advisor Commerce tells us government has managed economic stabilization. What he does not tell us is what precise measures the government has taken in this regard. When we surf the government's reforms stratosphere, we see little evidence. Advisor Commerc
Published 21 Mar, 2019 12:00am
Time for reconciliation is now
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Time for reconciliation is now

Modi, who thrives on confrontation and jingoism, has done us a favour. A fractious nation suddenly closed ranks to stand together. The joint session of parliament said it all: we can rise above internecine divides. Use of the term 'Establishment', our way
Published 14 Mar, 2019 12:00am