The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom. The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property. Forty-two variables are used to construct a summary index and to measure the degree of economic freedom in five broad areas:
Export Development Fund (EDF) was formally established through an Act namely ‘Export Development Fund Act 1999’ with the purpose to strengthen and develop infrastructure for promotion of exports through Export Development Surcharge (EDS). In 2005 an amendment came, which provides that Federal Government is required to collect 0.25 per cent of export receipts and transfer to EDF maintained by Ministry of Commerce in the following year. During 2012-13, the Finance Division released an amount of Rs. 452.619 million, equivalent to only 30 per cent of EDS collected. The total short provision since amendment in the Act in 2005 i.e., from 2006-07 to 2013-14, has accumulated to approximately 19 billion rupees.
The study reviews the performance of electricity utility companies in Pakistan by comparing the state owned companies (PESCO & IESCO) with the privately managed Karachi Electric. Using the benchmarks of governance, operational management, financial performance and commercial management, the report develops a scorecard to track the performance of DISCOs and indicates factors which have led to the turnaround of KE after its privatisation. The report is beneficial for the analysts of power sector as well as decision makers.
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.
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.
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.
PRIME Analytical Reports are independent evidence based studies on the investment climate, economic policies and demographic changes in Pakistan, prepared to improve understanding of business and policy challenges faced by the country’s private sector to help it steer path of growth.