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Dr Hafiz A Pasha

Dr Hafiz A Pasha

Business Recorder

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Early warning signs

The first quarter of 2023-24 is about to come to an end. It has been an eventful quarter. It started well with the finalization of the Stand-By...

19.09.2023 60

Business Recorder

Dr Hafiz A Pasha

Balochistan falls behind

Balochistan is the smallest province of Pakistan, with a share of 6.2% in the national population, according to the 2023 Population Census. However,...

12.09.2023 80

Business Recorder

Dr Hafiz A Pasha

The population bulge

The results of the seventh Population and Housing Census of Pakistan in 2023 have been announced recently by the Pakistan Bureau of Statistics (PBS)....

05.09.2023 100

Business Recorder

Dr Hafiz A Pasha

BoP projections: risk and uncertainty

The year, 2022-23, closed with a truly remarkable reduction in the size of the current account deficit by 84% to just above $2.5 billion only from...

29.08.2023 40

Business Recorder

Dr Hafiz A Pasha

Rising unemployment and falling real wages

The devastation caused by the floods and the resulting supply shortages, along with severe import restrictions, has led to a big loss of growth in the...

22.08.2023 60

Business Recorder

Dr Hafiz A Pasha

Mixed start of FY2023-24

The current financial year, 2023-24, started on a very positive note. The talks with the IMF (International Monetary Fund) were finally successful and...

15.08.2023 40

Business Recorder

Dr Hafiz A Pasha

IMF programme targets

A typical IMF (International Monetary Fund) programme, including a Stand-by Facility, has a set of quantitative performance criteria, indicative...

08.08.2023 40

Business Recorder

Dr Hafiz A Pasha

IMF’s SBF

The IMF Stand-By Facility (SBF) of $3 billion has been in operation for two weeks now. Already, there is a big increase in external inflows. Foreign...

01.08.2023 30

Business Recorder

Dr Hafiz A Pasha

Managing the BoP

The balance of payments (BoP) figures for the full-year, 2022-23, have just been released by the SBP. They reflect many unusual features. Compared to...

25.07.2023 30

Business Recorder

Dr Hafiz A Pasha

Dip in the rate of inflation

There is finally some good news on the rate of inflation. The month of June has witnessed a big dip in the rate of inflation in the CPI of 8.6...

18.07.2023 50

Business Recorder

Dr Hafiz A Pasha

The ebb of external inflows

The Ministry of Economic Affairs has released the statement of May 2023 on Disbursement of Foreign Economic Assistance to Pakistan in the first eleven...

11.07.2023 30

Business Recorder

Dr Hafiz A Pasha

The youth bulge

The high rate of population growth of Pakistan, among the highest in the world, has led to the emergence of a large youth bulge. Demographers and...

04.07.2023 80

Business Recorder

Dr Hafiz A Pasha

Trend in key fiscal ratios

The consistent series of the GDP with one year, 2015-16, has been estimated and released by the PBS from 1999-2000 onwards. This now enables...

27.06.2023 20

Business Recorder

Dr Hafiz A Pasha

FBR’s revenue target

The federal budget for 2023-24 was announced recently. There was the expectation that the fiscal efforts for resource mobilization will be aggressive...

20.06.2023 40

Business Recorder

Dr Hafiz A Pasha

The economy in FY2023-24

The economic prospects for Pakistan in 2023-24 have been presented in the Annual Plan prepared by the Planning Commission. This Plan has been approved...

13.06.2023 70

Business Recorder

Dr Hafiz A Pasha

Budget strategy for FY2023-24

The budget for 2023-24 will be presented by the federal government in the Parliament in the next few days. There has been a lot of speculation about...

06.06.2023 60

Business Recorder

Dr Hafiz A Pasha

Growth rate: PBS under the spotlight

The provisional estimates for 2022-23 of the GDP by sector and by expenditure have been released recently by the Pakistan Bureau of Statistics (PBS)....

31.05.2023 20

Business Recorder

Dr Hafiz A Pasha

Growth rate: PBS under the spotlight

The provisional estimates for 2022-23 of the GDP by sector and by expenditure have been released recently by the Pakistan Bureau of Statistics (PBS)....

30.05.2023 90

Business Recorder

Dr Hafiz A Pasha

Slump in industrial production

There is no end to the bad news on the on-going performance of the economy of Pakistan. Now we have been informed by the Pakistan Bureau of Statistics...

23.05.2023 30

Business Recorder

Dr Hafiz A Pasha

Fragile state of public finances

The information on fiscal operations by the federal and provincial governments in the first nine months of 2022-23 has been released recently by the...

16.05.2023 70

Business Recorder

Dr Hafiz A Pasha

Causes of the rising inflation

The rate of inflation, as measured by the Consumer Price Index (CPI), has been persistently rising since September 2022, on a year-to-year basis. It...

09.05.2023 100

Business Recorder

Dr Hafiz A Pasha

IMF projections for 2023-24

The World Economic Outlook issue of April 2023 by the IMF contains detailed macroeconomic [AN1] projections at the individual country level from...

02.05.2023 40

Business Recorder

Dr Hafiz A Pasha

Contrasting trends

The economy is showing contrasting trends in different segments of activity. This is due to various factors like the severe stagflation, looming...

25.04.2023 30

Business Recorder

Dr Hafiz A Pasha

The IMF projections

The IMF has made projections for 2023 and a number of subsequent years at the global and country level in its latest publication, World Economic...

18.04.2023 30

Business Recorder

Dr Hafiz A Pasha

Economic projections

The World Bank (WB) and the Asian Development Bank (ADB) have both released economic projections of Pakistan. Both projections portray Pakistan as a...

11.04.2023 100

Business Recorder

Dr Hafiz A Pasha

Rising public debt

The extremely worrying indicator today is the large and rapidly growing level of public debt, including the external liabilities, in Pakistan. As of...

04.04.2023 70

Business Recorder

Dr Hafiz A Pasha

The economic malaise

Pakistan today faces the worst financial crisis in its 75-year history. This is attributable to both long-term trends and more recent developments....

28.03.2023 70

Business Recorder

Dr Hafiz A Pasha

Falling exports and imports

The February figures of exports, imports and balance of trade have just been released. They tell a story of extreme contraction in the volume of...

21.03.2023 30

Business Recorder

Dr Hafiz A Pasha

Containment of imports

The latest international trade statistics for the period, July to February, 2022-23, have just been released by the Pakistan Bureau of Statistics....

14.03.2023 40

Business Recorder

Dr Hafiz A Pasha

Galloping inflation

Pakistan is seeing today an unprecedented hike in the rate of inflation. The CPI has risen on a year-to-year basis in the month of February 2023 by as...

07.03.2023 100

Business Recorder

Dr Hafiz A Pasha

Progressive fiscal policy

The Managing Director, Kristalina Georgieva, of the IMF (International Monetary Fund) has said recently in the context of Pakistan that ‘there is a...

28.02.2023 40

Business Recorder

Dr Hafiz A Pasha

Surging govt debt

The statistics on total debt of Pakistan as of end-December 2022 has been released recently by the SBP (State Bank of Pakistan). It stands at Rs 63.9...

21.02.2023 40

Business Recorder

Dr Hafiz A Pasha

Budgetary outcome in 1HFY23

The information on fiscal operations from July to December 2022 of the federal and the provincial governments has recently been released by the...

14.02.2023 10

Business Recorder

Dr Hafiz A Pasha

Strategy for resource mobilisation

The technical discussions in Islamabad on the ninth review of the IMF programme between the IMF staff and the officials of the Ministry of Finance are...

07.02.2023 70

Business Recorder

Dr Hafiz A Pasha

Big rise in poverty, unemployment

The current combination of various negative factors is likely to lead to a big exponential jump in the number of unemployed and the poor in the...

04.02.2023 90

Business Recorder

Dr Hafiz A Pasha

State of the economy

The first six months of 2022-23 have witnessed considerable uncertainty about country’s economic prospects. Foreign exchange reserves have dwindled...

31.01.2023 100

Business Recorder

Dr Hafiz A Pasha

GDP growth in 2022-23 — II

The previous article by this writer had presented the estimate of the GDP growth rate in 2022-23 as negative 1% from the supply-side in terms of the...

24.01.2023 100

Business Recorder

Dr Hafiz A Pasha

GDP growth in 2022-23

The World Bank has revised its projection downwards of the GDP growth rate of the economy of Pakistan in 2022-23 from 4% to 2%. Presumably, this...

17.01.2023 100

Business Recorder

Dr Hafiz A Pasha

Galloping inflation

Pakistan today is experiencing high and rising rate of inflation. This is the highest inflation after 1973-74 and 1974-75 when it rose to 30% and 27%...

10.01.2023 100

Business Recorder

Dr Hafiz A Pasha

Stresses on the federation

The public eye has been focused on the on-going confrontation between the federal government of the PDM and the PTI–PML(Q) provincial government in...

03.01.2023 60

Business Recorder

Dr Hafiz A Pasha

Low foreign inflows

The foreign exchange reserves of the SBP have plunged to $6,116 million as of 16th of December 2022. There has been a decline in these reserves of...

27.12.2022 30

Business Recorder

Dr Hafiz A Pasha

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