Weaving advantage in textile sector

05/09/2022by PRIME Institute PRIME Institute No Comments

Weaving advantage in textile sector

The global clothing and textile industry is large, diverse and fragmented. It offers products ranging from those that are very basic in nature (like ginned cotton) to complex, value-added products (designed by brands like Nike). It employs an estimated 75 million people, has a market worth that is estimated to be more than $2 trillion, and exports related to this category were to the tune of $786 billion in 20141. Barring any major shock, the market is estimated to grow by an average of 7% and above in the coming years. The largest share in this market is of women’s wear ($621 billion), men’s wear ($402 billion) and children’s wear ($186 billion) respectively. A snapshot of the total textile imports and exports by top 10 countries is presented in table 1.

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Policy Brief on Automobile sector

05/09/2022by PRIME Institute PRIME Institute No Comments

Policy Brief on Automobile sector

The automobile sector today operates within the rubric of several policies, frameworks and regulations: the Industrial Policy 2011; the Trade Policy Framework 2012-15; the Finance Acts which modify the fiscal and tariff regime backed by the Statutory Regulatory Orders (SROs) and the Customs General Orders (CGOs); the Auto Industry Development Programme (AIDP) 2008; the Tariff Based Scheme (TBS); Pakistan Standards; and the National Environmental Quality Standards (NEQS).

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To read more, click here: Policy Brief on Automobile Sector

For media inquiries, contact saad@primeinstitute.org

Withholding Tax Regime: History, Consequences for Business and Implications for Policy

05/09/2022by PRIME Institute PRIME Institute No Comments

The contribution of Withholding Taxes in direct tax revenue has surpassed 75 percent, and it has brought in more than Rs. 860 billion to the government kitty in 2014-15. On the other hand, the number of tax return filers has gone down considerably from 1.8 million in 2006 to 0.85 million in 2014-15. The decision to apply a differentiated rate of Withholding Tax (WHT) on filers and non-filers, while penalizing the later, is seen as government’s attempt to bring people back into tax net. However, the unseen and unintended consequences of an increasingly complex WHT regime might be exact opposite. This analytical report discusses the history of WHT in Pakistan, its consequences for businesses and implications for the tax policy as well as tax administration.

To read the full report or download for offline reading, click here: Withholding Tax Regime: History, Consequences for Business and Implications for Policy

Towards Flat, Low-rate, Broad and Predictable Taxes

05/09/2022by PRIME Institute PRIME Institute No Comments

Federal and provincial governments in Pakistan have shown a lukewarm attitude in restructuring the country’s tax system to achieve efficiency, equity and to promote economic growth. Complex tax codes, complicated procedures, reliance on easily-collectable indirect taxes, weak enforcement, inefficiencies, incompetence and corruption are main factors for low tax collection.

Instead of broadening the tax base and simplifying laws, federal and provincial governments offer amnesties, immunities, tax-free perks and perquisites to powerful segments of society. As a result of this policy mindset, ordinary businesses and citizens suffer. This paper argues radical revamping and restructuring of the entire tax system, suggesting flat, low, broad and predictable taxes.

To read the full report or download for offline reading, click here: Towards Flat, Low-rate, Broad and Predictable Taxes

Provinces Tracking Report 2016-2017

02/09/2022by PRIME Institute PRIME Institute No Comments

Provincial Tracking Report reviews economic performance of three provinces, Khyber Pakhtunkhwa, Punjab and Sindh by tracking the progress made on the implementation of economic manifesto announced by the parties in power in these respective provinces i.e. Pakistan Tehreek-e-Insaaf (PTI), Pakistan Muslim League-Nawaz (PML-N) and Pakistan People’s Party-Parliamentarians (PPP-P). In case of Balochistan, the report includes a commentary on the socio-economic status of the province instead of following any manifesto
because of a mid-term change in the government. The purpose of the Provincial Tracking Report is to initiate and inform policy dialogue and public debate on the progress made by political parties vis-à-vis their electoral promises. This tracking directly serves the basic principle of a functioning democracy: accountability.

To read the full report or download for offline reading, click here: Provinces Tracking Report 2016-2017

Provinces Tracking Report

02/09/2022by PRIME Institute PRIME Institute No Comments

Provincial Tracking Report reviews economic performance of three provinces, Khyber Pakhtunkhwa, Punjab and Sindh by tracking the progress made on the implementation of economic manifesto announced by the parties in power in these respective provinces i.e. Pakistan Tehreek-e-Insaaf (PTI), Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party-Parliamentarians (PPP-P). The purpose is to initiate and inform policy dialogue and public debate on the progress made on their electoral promises. This tracking
directly serves the basic principle of a functioning democracy: accountability.

To read the full report or download for offline reading, click here: Provinces Tracking Report

Budget 2016-2017 | Implications for the business community (May 2017)

02/09/2022by PRIME Institute PRIME Institute No Comments

The Business Climate Review sums up important developments spanning the entire federal government economic governance over the previous month. It discusses possible consequences of decisions, policies, and regulations announced by the federal cabinet, regulators and Federal Board of Revenue for the business climate of Pakistan. The analysis is based on the idea that economic freedom is good for the business climate and any law that increases arbitrariness, red-tape, and government involvement is counterproductive. Also, we believe that the government should not choose winners and losers by legalizing exemptions or favours.

To read the full report or download it, click here: Budget 2016-2017 | Implications for the business community (May 2017)

PML-N Economic Agenda Tracking Report (January-June 2017)

31/08/2022by PRIME Institute PRIME Institute No Comments

PML-N: Four Years and Under-Performing is 9th report under PML-N Economic Agenda: Tracking Project which reviews Pakistan’s economic performance by tracking the progress made on the implementation of economic manifesto announced by the party in power in Islamabad, Pakistan Muslim League-Nawaz (PML-N). The purpose is to initiate and inform policy dialogue and public debate on the progress made on the economic agenda of PML-N. This tracking directly serves the basic principle of a functioning democracy: accountability. Current report covers progress made during January-June 2017.

To read the full report or download for offline reading, click here: PML-N Economic Agenda Tracking Report (January-June 2017)

PML-N Economic Agenda Tracking Report (July -December 2016)

31/08/2022by PRIME Institute PRIME Institute No Comments

Introduction

PML-N: Relaxing into a Discretionary Policy Regime is 8th report under PML-N Economic Agenda: Tracking Project which reviews Pakistan’s economic performance by tracking the progress made on the implementation of economic manifesto announced by the party in power in Islamabad, Pakistan Muslim League-Nawaz (PML-N). The purpose is to initiate and inform policy dialogue and public debate on the progress made on the economic agenda of PML-N. This tracking directly serves the basic principle of a functioning democracy: accountability. Current report covers progress made during July-December 2016.

To read or download the full report, click here: PML-N Economic Agenda Tracking Report (July -December 2016)

PML-N Economic Agenda Tracking Report (January – June 2016)

31/08/2022by PRIME Institute PRIME Institute No Comments

Executive Summary

This is PRIME’s 7th Tracking Report on PML-N’s federal government economic performance which judges the implementation of their economic manifesto. It serves the basic purpose of a functioning democracy: accountability. The report serves as a reminder to both the government in power and media and public at large on the status of implementation of electoral promises.

There are two pillars or “Areas” of PML-N economic manifesto: Economic Revival and Energy Security. The report tracks down 89 targets set out by PML-N to achieve economic revival and energy security. Out of a maximum score of 10, the report awards a plausible score on the basis of three parameters: legislative development (2.5), institutional framework (2.5) and implementation (5) on all targets.

To read or download the full report, click here: PML-N Economic Agenda Tracking Report (January – June 2016)

PML-N Economic Agenda Tracking Report (July -December 2015)

31/08/2022by PRIME Institute PRIME Institute No Comments

Introduction

PML-N- Sidetracking Long-term Reforms is 6th report under PML-N Economic Agenda: Tracking Project which reviews Pakistan’s economic performance by tracking the progress made on the implementation of economic manifesto announced by the party in power in Islamabad, Pakistan Muslim League-Nawaz (PML-N). The purpose is to initiate and inform policy dialogue and public debate on the progress made on the economic agenda of PML-N. This tracking directly serves the basic principle of a functioning democracy: accountability. Current report covers progress made during July-December 2015.

To read the full report or download it, click ahead: PML-N Economic Agenda Tracking Report (July -December 2015)

PML-N Economic Agenda Tracking Report (January – June 2015)

31/08/2022by PRIME Institute PRIME Institute No Comments

Introduction

PML-N – Losing all its marbles is 5th report under PML-N Economic Agenda: Tracking Project which reviews Pakistan’s economic performance by tracking the progress made on the implementation of
economic manifesto announced by the party in power in Islamabad, Pakistan Muslim League-Nawaz
(PML-N). The purpose is to initiate and inform policy dialogue and public debate on the progress made on the economic agenda of PML-N. This tracking directly serves the basic principle of a functioning democracy: accountability. Current report covers progress made during January-June 2015.

Read the full report or download it here: PML-N Economic Agenda Tracking Report (January – June 2015)