Considerable controversy has emerged over the Temporary Economic Refinance Facility (TERF), a pandemic-era stimulus program that was launched under the auspices of the State Bank of Pakistan (SBP) as a concessionary financing facility for capital investment.
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The salaried class in Pakistan has long borne the brunt of iniquitous taxation. Although not large in terms of sheer numbers per se, their tax effort is far larger than that of many sectors that are either uncovered or under-covered by the ramshackle tax architecture.
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The economy has undergone tremendous upheaval over the past year, and the public has been trampled by the combined forces of inflation, unemployment, and economic stagnation simultaneously.
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Although recent remarks in the Senate standing committee on finance suggest that the government is working towards banning the use of cryptocurrencies in Pakistan, I have argued that the government first needs to offer a sane and reasonable mainstream
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The State Bank of Pakistan Amendment Act (SBPAA) was passed into law in early 2022 with the strong insistence of the IMF. The law was more so a reflection of the IMF’s ideological spin rather than of the local requirements of Pakistan.
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These are challenging times for Pakistan. The South Asian nation of 249 million people battles one of its worst economic crisis. According to JP Morgan Chase Bank’s analysis, the country’s risk
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