Note: This article was originally published in The Express Tribune ISLAMABAD: Many economists love quoting the declining or rising figures of the Foreign Direct Investment (FDI) coming to Pakistan. Not only do our governments boast about increasing FDI, but the commentators also appreciate it as an important gain. The SBP regularly updates the figures. Their fascination with FDI appears, if not like a panacea, certainly as a major breakthrough in achieving a faster growth rate or economic development. The April 23, 2024, newspapers published a story based on the SBP data highlighting an increase in the FDI. One newspaper, Dawn,

Note: This article was originally published in The Express Tribune ISLAMABAD: In their latest survey, Gallup & Gilani Pakistan asked a nationally representative sample of adult men and women: “Compared to ten years ago, do you feel more financially prosperous, less prosperous, or indifferent?” Surprisingly, 35% of respondents reported feeling financially better off now compared to 10 years ago. In their responses, 14% of respondents felt ‘Very prosperous’, while 21% reported feeling ‘Somewhat prosperous’ (totalling 35%). Additionally, 16% indicated ‘No difference’, 29% expressed feeling ‘Somewhat less prosperous’, 15% noted feeling ‘Much less prosperous’, and 5% either did not know or

Note: This article was originally published in The Express Tribune ISLAMABAD: Altering the economic system is not an easy task. It is more complex when carried out half-heartedly. Privatisation is only a part of this process. It may not succeed if done in an isolated manner. Among other things, it requires a competitive environment to bear fruit. A case in point is the erstwhile Czechoslovakia. It provides us with a good learning experience to see how after the fall of a collectivist state, the gigantic task of changing the economic system was handled. Dr Vaclav Klaus was one of the