This study looks at an important, but often neglected, aspect of socioeconomic activity. The need to have a shelter of one’s own is a fundamental right, and this study analyzes the important issues surrounding it.
The real estate market and allied construction industries have a pivotal role in economic development and jobs creation. However, the potential role of the real estate sector has been constrained by informal markets, lack of formal capital, and fiscal disincentives. This report suggests some policy, regulatory and fiscal measures to facilitate a more effective role of the real estate sector in economic development, employment generation and industrial growth by bringing in the in the formal market.
This report argues that the real estate market and allied construction industries have a pivotal role in economic development and jobs creation. Together, they constituted 9.2 percent of GDP, and created 3.85 million jobs in 2014-15. However, the potential role of the real estate sector has been constrained by informal markets, lack of formal capital, and fiscal disincentives. In order to encourage formal market to invest in the real estate, the Securities & Exchange Commission of Pakistan issued Real Estate Investment Trust (REIT) regulations in 2008, which were revised in 2015. However, these regulations have not helped in sectoral development. In last seven years, only one REIT scheme has been launched.
PRIME Analytical Reports-Unlocking Business Potential for Growth-are independent and evidence backed studies on the dynamics of business environment in Pakistan. These monthly reports are prepared to improve our understanding of business and policy challenges faced by the country’s private sector and to help it steer on the path of growth.
Intellectual property (IP) plays an important role towards economic growth, especially in the modern knowledge-based economies. The IP regime deals with protection of trademarks and copyrights and granting patents. Foreign companies take into consideration the IP regime of a country before setting up business. In Pakistan, protection against violation of intellectual property is weak. Currently, International Property Rights Index (IPRI) ranks Pakistan at 117 among 129 countries. As of late, some progress has been made as USA has moved Pakistan to its watch list from priority list in 2016. However, major issues are still lagging such as the twin problems of copyright violations and enforcements of IP rights laws. If these problems persist, Pakistan will be deprived of a sizeable amount of foreign direct investment. Especially now, as Pakistan is expecting high foreign investment pouring into the country as a result of CPEC and an emerging market status, issues of intellectual property rights have become crucial to our development designs. This report explores the issue of intellectual property rights in Pakistan and attempts to highlight issues around IP rights that can discourage international businesses coming into Pakistan. Its negative impact on innovation by local businesses is also discussed.
This paper presents a Pakistani case of accession to the WTO Information Technology Agreement which obliges the signatories to withdraw any import duties and taxes on a list of IT and telecom equipment. Some of the products under the coverage of ITA are: computer hardware and software, telephones, semiconductors, measuring, testing and analysing instruments etc.
Industrial growth has been inconsistent in Pakistan. It has gone from 11 percent on average in 1960s to as low as 3 percent on average during the first half of 2010s. These aggregate numbers masks considerable inter-decadal volatility in industrial growth. Despite such trends, industrial sector remains an important correlate of economic growth. The GDP growth rate for the FY2015-16 was 4.71 percent despite a negative growth rate of 0.19 for the agriculture sector. This rather impressive growth rate in GDP was propelled mainly by 6.58 percent growth in industrial sector.
The world is in the phase of a major expansion vis-à-vis increase in the middle class population, particularly in Asia. According to research, global middle class is projected to grow from under two billion consumers today to nearly five billion within two decades. The rising middle classes are considered important key driver of growth given their high income elasticity especially for durable goods and services. Hence, increase in income of middle class leads to a higher level of consumption. Therefore, the world economy can be expected to increasingly rely on the middle classes as key sources of global demand.
This study analyzes the state led provision of electricity in Pakistan. It examines different aspects of the debate over public provision of this utility, process of tariff determination and the substantial costs associated with the entire system.
PRIME Policy Report is a monthly publication that provides actionable intelligence at both micro and macro levels of the economy. Each report is segmented into: Business Climate Review, Market Analysis and bird-eye view of major Economic Indicators. It is a one stop information hub for business leaders, SMEs, Corporations, trade commissioners, MNCs, Institutions and Individuals aspiring to understand the policy dynamics, business prospects and interpretations of key economic indicators.
This report is part of a series of policy reports. PRIME Policy Report is a monthly publication that provides actionable intelligence at both micro and macro levels of the economy. Each report is segmented into: Business Climate Review, Market Analysis and bird-eye view of major Economic Indicators. It is a one stop information hub for business leaders, SMEs, Corporations, trade commissioners, MNCs, Institutions and Individuals aspiring to understand the policy dynamics, business prospects and interpretations of key economic indicators.
The 17 Sustainable Development Goals (SDGs), adopted by 194 member countries of UN in 2015, are a roadmap for future human development. One of the pillars of SDGs is health, covered under SDG 3. As defined by the World Health Organization (WHO), this goal envisions ensuring promotion of healthy lives and well being for people of all ages. It is further sub-divided into 13 goals. The WHO also considers other SDGs to be closely linked to SDG 3 as they are directly related to health or will indirectly affect health outcomes. Health related targets are divided into
categories like Mortality (infant, child and maternal), Non-communicable diseases, Mental health, Malnutrition, Vaccine coverage, etc.