Dr Kamal Monnoo

  • An interesting budget was announced by the BJP Indian government last week where it kept to the themes it has recently been propagating: a) A move away from the exception-based regime, that fosters crony capitalism and corruption, and b) getting India ready for the future by facilitating its ...

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  • Economic inequality, societal polarisation and intensifying environmental dangers are the top three trends that will shape global developments over the next 10 years. Trends such as rising income inequality and societal polarization triggered political changes in 2016 and have exacerbated global ...

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  • The global corporate world in general is in denial about the prospects of a global trade war, even though protectionism was a central theme in both the big political events in 2016: Brexit & Trump winning the US elections. The voters trusted the promises to bring back good manufacturing jobs to ...

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  • We can debate about the state of Pakistan’s economy, glass half full or half empty, but without being too critical the following would be my seven recommendations to the economic managers for 2017. 1. Focus on Falling Exports: Like it or not, the textile sector still directly or indirectly ...

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  • Mr. Trump may be making more noise than his predecessor, but make no mistake, the Obama administration is the one that has quietly been changing the course of US commerce and trade since quite some time now. With a significant slowdown in global growth, the trade protectionism trend in the US has ...

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  • Donald Trump may capture headlines by goading China on Twitter, irritating Theresa May by suggesting Nigel Farage would make a good ambassador to Washington and putting together a tax programme that seems destined to exacerbate the US budget deficit. Flying in the face of much of what he said he ...

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  • So what exactly is Pakistan’s present debt profile? As per the figures released by the State Bank of Pakistan (SBP) in November 2016, the total Central Government debt as on 30.09.2016, stood at Rs19.9 trillion, ‘excluding liabilities’, and of which the domestic debt constitutes ...

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  • Regardless of all the protests that have erupted post US elections - citing issues on rights, gender, race, religion, creed, etc. – the fact remains that Americans mainly voted on economic grounds. After all, if religion, immigration or race would have been real issues, they would not have ...

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  • South Asia’s economic weakness and a rise in inequality appear to be causing a disturbing growth in the myopic democracies that govern it and in its rising ethnic nationalism. What we see today is a region mired in abject poverty, competing within itself in the wrong areas and for the wrong ...

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  • CPEC, originally was proposed by the Chinese Premier, Li Keqiang during his visit to Pakistan in May 2013, with a project linking Kashgar in northwest China with Gwadar Port on the Arabian Sea coastline in Baluchistan. The initiative is also driven strongly from China’s quest for Warm Waters. ...

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  • A relatively good southwest monsoon and the possibility of GDP accelerating during the rest of the year, had given rise to high hopes that Pakistan would finally be able to surmount the lackluster growth witnessed over the past three years. Unfortunately, even as the monsoon approaches its end, ...

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  • It is difficult to have a constructive discussion with the government functionaries on the state of Pak economy. Led by an over confident finance minister, nearly the entire economic leadership believes that they have done an outstanding job over the last 3 years on the economy, which is now ...

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  • It is more than 3 years since this government took over – and 8 years in its recent stint in the parliament to work out the sort of regulatory reforms required to put the Pak economy in the right direction. Regulation is crucial in delivering fairness, efficiency and effectiveness in an ...

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  • The Pakistani economy is in a jam. Debt is far higher than output and this can only be addressed by boosting growth or productivity and preferably both. We are where we are because of chronic loose money going the government’s way, stemming from a lack of bank lending controls on ...

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  • Rising stock market index is an indicator often used by Pakistani finance ministers as a measure of their success in management of the Pak economy. In the past we saw Shaukat Aziz boast about how the stock market and respectively the investor’s confidence in stocks per se had prospered due to ...

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  • Confidence in Prime Minister Nawaz Sharif and his team is waning, three years after he swept to power in a landslide election. Business executives and entrepreneurs in Lahore and Karachi grumble about the lack of big reforms and almost everyone these days’ wonders aloud whether Mr. Sharif ...

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  • Like it or not, in its 70 years history, textiles is the only globally competitive stand-alone industry that Pakistan has created. The definition of stand alone being that given a level playing field vis-a-vis its international competitors, the industry can hold its own both in terms of quality and ...

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  • Comes December 2016, and for the average American citizen who believes in the original American dream – hard work can take anyone to the top – the worry would be not that who, Trump or Hillary, becomes the next US President, but that regardless of who gets elected he or she may undo ...

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  • The federal government on Friday the 3rd, unveiled a 4.4-trillion-rupee deficit budget with packages for agriculture and industry to stimulate growth and investment. The government aims to lower deficit to Rs1.615 trillion or 4.8% of the GDP; however a fiscal deficit target has been set at 3.8% of ...

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  • Like it or not, Pakistan’s defense budget always attracts a lot of attention both from the United States of America (USA) and India: USA, because its important interests are engaged in Pakistan and the surrounding region and India, because it has gone to war 3 times with Pakistan since 1947. ...

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  • The 2016-17 Budget is around the corner – supposed to be announced on June 03, 2016 – and now that the myth of a recovering economy has pretty much been shattered, let’s have a look on what sort of areas Mr Dar should be concentrating on. First and foremost, his focus should be on ...

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  • With $46 billion under CPEC (China Pakistan Economic Corridor) promised to trickle into Pakistan from China in the coming 15 years, the excitement here is quite understandable. For right or wrong reasons, comparison is being drawn with the colonial (European and primarily British) infrastructure ...

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  • The agriculture sector in Pakistan has been faltering since more than two years now and a failure to timely address this most important economic sector of the economy can have far reaching implications. These will not only affect just the farmers and their families but also the country’s ...

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  • I have been regularly writing about the need for prudence in striking trade agreements. Good trade agreements can be the key to a country’s global connectivity, its growth, job creation endeavors and for achieving domestic corporate excellence, whereas, poorly thought through agreements can ...

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  • From the very start, the PML-N’s term in office has been like a roller coaster. On one hand forming coalitions, bonds and an understanding while on the other, trading barbs, bursts and insults with the same political opposition parties or with other state power centers, all of which while ...

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  • Only a couple of months back, I had written extensively on why devaluation of the Pakistani rupee would be a mistake. There were some good reasons for my opinion, foremost being that since the government was contemplating this move primarily to resurrect Pakistan’s dwindling exports, it ought ...

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  • The ruling elite often forget, that what constitutes productive spending in its mind may not necessarily reflect in the priority list of the people it governs. While the rulers may fancy modern and big-ticket infrastructure projects because they perhaps massage their egos and make them feel high ...

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  • One is not really aware what prime minister, Nawaz Sharif and his team really wanted to achieve at Davos. Clearly, even if they were paying little attention during the conference, they would have picked up that global leaders these days are busy in making their own respective assessment whether the ...

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  • Pakistan’s trade policy in recent years seems rather confusing and purposeless, to put it mildly. With the global economy slowing down post 2008 and remaining so till today, and with commodity prices crashing – the bottom perhaps still to come – countries have suddenly become very ...

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  • Last week at a CPEC road network’s inaugural ceremony in Baluchistan, the finance minister in his address was visibly angry at the (economic) pseudo intellectuals of Pakistan who according to him insist on misrepresenting the facts on Pakistan’s national debt. According to him, not only ...

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