The State Bank of Pakistan (SBP) announces three measures in its monetary policy statements to address the economic and recent health challenges in the backdrop of spread of COVID-19. First, cut its policy rate by 75 basis points. Second, announced a “Temporary Economic Refinance Facility (TERF)” to encourage new investment in manufacturing. Third, announced a […]
Withered Books
Recently, in a seminar held at Pakistan Institute of Development Economics (PIDE), a speaker put this question to the audience, “Name the last book that influenced you?” Out of approximately 150 participants, only a few raised their hands. Keep this in mind that the participants constituted what we deem to be the intelligentsia of our […]
Textile: key lessons from Vietnam
Top advisors to the prime minister of Pakistan have continuously asserted that Pakistan’s economy is improving, but not in a way that has created jobs. The implication of this is that sectors typically linked to job creation–such as the agriculture and industry sectors–will be neglected. This is a potentially alarming situation. If this is the […]