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Economy

Monetary Policy, Inflation and Independence of Central Banks

The revenue raised by printing money is called seigniorage. Whenever government relies on seigniorage for financing its expenditure, the money supply goes up. Consequently, a rise in inflation is also witnessed. Raising revenue by printing more money is just like imposing an inflation tax. It is a tax in the sense that, for the holders of money, inflation decreases the ... Read More »

WTO and Agriculture Sector of Pakistan

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 ... Read More »

INFORMAL ECONOMY

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 ... Read More »

Tax to GPD Ratio

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 ... Read More »

FISCAL POLICY AND ECONOMIC GROWTH

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 ... Read More »

PAKISTAN AND THE IMF

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 ... Read More »

USAID!

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 ... Read More »

ONE NATION, TWO STATES,

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 ... Read More »