Policy and the Enforcement of Contracts (Exclusive)

The ability to make and enforce contracts and resolve disputes is fundamental if markets are to function properly. Good enforcement procedures enhance predictability in commercial relationships and reduce uncertainty by assuring investors that their contractual rights will be upheld promptly by local courts. When procedures for enforcing commercial transactions are bureaucratic and cumbersome or when contractual disputes cannot be resolved […]

Power devolution for metropolitan economies

By Zia Banday Originally published in The Express Tribune, January 2nd, 2017 Metropolitan regions have emerged as main growth drivers of the global economy.  Brookings Institute, a US-based think tank, has identified 300 largest metropolitan economies of the world, which are contributing 47% to its output with 20% of global population. In this research report, 96 of such economies are […]

When Debt is not Used to Aid Growth

By Ali Salman Originally published in The Express Tribune, December 18th, 2016 There are two diametrically opposed camps in the public debate on public debt. One view is that Pakistan has entered in a debt trap, and the present government has piled up huge stocks of public debt, including a leveraged forex reserve. This view also includes China Pakistan Economic […]

Lesson from Sri Lanka

By Shahid Mehmood Originally published in The News International, December 15th, 2016    Our acquaintance with Sri Lanka has more to do with cricket than its history or geography. But recently, two avenues of further commonality have emerged in unexpected ways. The first common feature arises in the form of Sri Lanka’s total debt, especially its external one. As usual, […]

The Great Tax Robbery

By Huzaima Bukhari & Dr Ikramul Haq, Originally published by The Friday Times on 21st of October 2016  “Pakistanis are tax evaders and cheats. Only 1% of the population pays taxes.” Does this sound familiar? And yet, you wonder, I pay income tax on my salary as do so many people I know—it doesn’t make sense. If you feel that something […]

Is Pakistan destined to be a Silicon Valley?

by Zia Banday Published in The Express Tribune, October 17th, 2016. In the early ‘70s, a Bangalore-based engineer envisioned his beloved city becoming a Silicon Valley of India. The core behind this idea was the establishment of a dedicated electronic city for technology companies. Vision is never easy to sell. RK Baliga, the dreamer, was lucky enough to have a […]

Pakistan not a casino economy, but an animal farm

By Ali Salman Originally Published in The Express Tribune on October 10th, 2016. In his recent article, ‘Pakistan’s casino economy: a blue print for inequality’, prominent economist Dr Kaiser Bengali wrote that “Pakistan is becoming a casino economy, where a wily few siphon off money from the pockets of the unsuspecting populace. This is a recipe for more inequality and more poverty.” […]

Possible alternatives for Pakistan to channel foreign aid

By Ali Salman, Originally published in The Express Tribune, September 19th, 2016. The West has spent $2.3 trillion on foreign aid over the last five decades and has not managed to “get 12-cent medicines to children to prevent half of all malaria deaths, or $3 to each new mother to prevent 5 million child deaths,” writes William Easterly, the author […]

Secular capitalism: de-facto game in the global village

By Zia Banday, Originally published in The Express Tribune, September 26th, 2016. The United Arab Emirates (UAE), with a population of 5 million, is 20 times less populous than Pakistan. However, the country has made its mark in international trade. As per Comtrade figures, UAE’s exports have risen 51% from $253 billion in 2011 to $380 billion in 2014, whereas its […]