Europe Solidaire Sans Frontières
Pakistan is on the precipice of a financial crisis. The population struggles to cope with ever-dwindling purchasing power, foreign reserves dwindle, inflation soars, and the country faces widespread unrest. Tensions are high as forthcoming elections loom, adding to the uncertainty. The (...)
The concept of super tax was reintroduced by the government on high-earning persons in tax year 2022. Slab-wise rates were prescribed for the tax year 2022 with a maximum rate of 4%. With regard to certain specified sectors, an enhanced rate of 10% was prescribed for tax year 2022 only and for (...)
The IMF mission is currently in Pakistan on a 10-day visit to discuss the stalled ninth review of the country’s current funding programme. The loan talks were restarted after the government finally yielded to IMF demands.Pakistan secured a $6 billion IMF bailout in 2019, which was topped up (...)
The IMF mission is currently in Pakistan on a 10-day visit to discuss the stalled ninth review of the country’s current funding programme. The loan talks were restarted after the government finally yielded to IMF demands.Pakistan secured a $6 billion IMF bailout in 2019, which was topped up (...)
“A basic principle of modern state capitalism is that costs and risks are socialized to the extent possible, while profit is privatized,” Chomsky has said a decade earlier and it fully sank in for us these past couple of months. We never had much to show for, but the pandemic clearly dealt the (...)
Pakistani neoliberalism hasn’t rolled back state intervention in the economy. Building on a predatory tradition that dates back to British colonial rule, it has used state power to enforce the ruthless exploitation of Pakistan’s workers and natural resources.
The neoliberal phase in the (...)
Pakistan has plunged into a major political crisis after the removal of Prime Minister Imran Khan on 10 April 22, through a successful no-confidence motion against the PTI govt. The month-long political crisis began on 8 March when the country’s three major opposition parties – the Pakistan (...)
The Belt and Road Initiative in Pakistan
Pakistan and China have had close relations for decades. Those ties have reached new heights through their cooperation within the framework of the Belt and Road Initiative (BRI). At the same time, the strategic considerations behind their (...)
Fixing of unachievable tax target for the FBR represents continuation of past legacies that relied on ill-directed, illogical, regressive and unfair taxes. Such skewered approach has a proven record of dampening industrial and business growth. Whereas — in the negative economic aftermath of (...)
Mohammad Israr, 17, says that he prays with a heavy heart every time he enters the deadly coal mine in the mineral-rich, south-western province of Balochistan that claimed the life of his father. “My father worked in coal mines for over two decades, but ever since his death over a year ago, I (...)
Imran Khan’s government came to power in 2018 promising to reorient Pakistan’s economy toward the needs of the population. But faced with a debt crisis it soon dropped its reformist agenda — and now, the International Monetary Fund is pressuring it to place its State Bank permanently beyond (...)
Pakistani workers describe trying to survive on the less than £50 a month many of them earn making items for firms such as Boohoo
When Qasim Ahmed* arrived in Faisalabad a year ago, he didn’t want much – just enough money to pay for a roof over his head, buy food and send a little cash home (...)
Investigation by The Guardian finds claims of safety issues, with workers saying they sometimes work 24-hour shifts
The fast fashion brand Boohoo is selling clothes made by Pakistani factory workers who say they face appalling conditions and earn as little as 29p an hour, an investigation (...)
Food prices have been rising in double-digit figures since August 2019, with incomes falling.
Life was not as hard two years ago as it is today for Tariq Mahmood, a 39-year-old taxi driver in Islamabad. He works seven days a week for 12 hours a day but rarely has more than a few hundred (...)
The Pakistani city’s railway is a hit with passengers, but critics say worker deaths and huge debt are too high a price to pay
In a global pandemic, people across the world have avoided public transport systems where they can. But last week the Pakistani city of Lahore unveiled its “gift (...)
THAT the National Accountability Bureau has little respect for human rights is widely known. The extent to which human rights are violated by NAB can only be established by documentation, a process in which this institution is obviously not interested. Surprisingly, NAB victims too have not (...)
Thanks to the World Bank’s flawed and corrupt investment arbitration process, the rich are making a fortune at the expense of poor countries. The latest shakedown is a $5.9 billion award against Pakistan’s government in favor of two global mining companies for an illegal project that was never (...)
There is a powerful narrative on the economy that has captivated the imagination of the current government and its support base: taxation as the panacea for the country’s economic woes.
Prompted by local and foreign policymakers and repeated ad nauseam by television anchors and government (...)
This is a story of the dodgy deal by a multi national company and then earning massive amount of money through the so-called process of Settlement of Investment Disputes, a World Bank institution acting against developing countries.
This is a new way of exploitation of the under developed (...)
The debate on the current economic crisis facing Pakistan is shrouded in technical jargon that veils the conflicts inherent in economic decision-making. We are flooded with figures of revenues shortfalls, deficits, debt and investment that require the intervention of ’neutral’ technocrats. (...)
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