Economy

Introduction World Trade Organisation stands for freer trade among countries. It aims to shed away trade distorting practices between countries, e.g., quotas and subsidies in a phased manner, but does not however, aim at zero tariffs. Pakistan has been the founding member of GATT (General Agreement on Tariffs and Trade 1948) as well as WTO. Aim of this article is …

A Blissful Orchestration of the Frail Home-based Workers Production and consumption of a country are based on its economic system. There are two types of economies: formal and informal. Formal sector is regularised by the government whereas informal sector is unrecognised; though the informal sector is not completely unregulated, there are some norms to keep it ‘somehow’ regulated. Informal sector …

Textile sector is the backbone and single largest sector of our economy, contributing to 55% of our total exports, providing 38% jobs in the manufacturing sector and contributes 8.5% of the GDP. We are the second largest exporter of cotton yarn, third largest exporter of fabric and fourth largest producer of cotton in the world. During the year 2010-11, the …

About 41 years ago, Pakistan lost its eastern wing (East Pakistan), the reason being that it had larger population than the West Pakistan. Although the East Pakistanis were in majority yet they were deprived of their rights and their problems were not solved according to their aspirations. After the abolition of ‘One-Unit’ in 1970, Balochistan got the status of a …

Political will is required to increase tax to GDP ratio in Pakistan but political instability coupled by inability of successive governments to review causes of low tax to GDP ratio has been a major source of impediments in achieving the target. Tax to GDP ratio can be obtained by dividing GDP of the country with total tax collection in a …

Fiscal policy is used by a government for adjusting its level of spending in order to monitor and influence a country’s economy. It involves the use of government spending, taxation and borrowing to influence the pattern of economic activity and level of aggregate demand, output and employment. Changes in fiscal policy affect aggregate demand as well as aggregate supply. The …

WHERE DOES THE PROBLEM LIE? After the PPP-led government announced its fifth and what was being bragged as “a historic budget’ (for reasons having less to do with economics), the finance minister was quick to retort that with a soaring current account and budget deficit, Pakistan, for resolving its financial crisis, may take the begging bowl to the IMF. In …

Over the past 51 years, the United States Agency for International Development (USAID) has grown into a powerful multi-billion dollar political-cum-military weapon in the hands of the American establishment. Over the past 51 years, the United States Agency for International Development (USAID) has grown into a powerful multi-billion dollar political-cum-military weapon in the hands of the American establishment. USAID’s charter …

ANTAGONISTIC ECONOMIES The proximity of the spiritually-bonded states, often reckoned to be a single nation has continued for more than half a century now. Both, Pakistan and Turkey have engaged into amiable political relations for the past six decades. It is noteworthy that during the massive earthquake of 2005 and the catastrophic floods of 2010, Turkey was the first country …

For past many decades, several trends have been introduced in international economy. A number of political changes also gave way to newer economic phenomena, including the mushrooming of transnational corporations or multinational corporations (TNCs/MNCs). Moreover, globalisation, regionalisation and World Trade Organisation (WTO), all had further reinforced the influences economic regimes have been exerting on international politics and economy. The changing …