Budget & Ashrafiya
Dr. Ikramul Haq Pakistan is controlled and ruled by ashrafiya (elites)—comprising indomitable military brass, top civil bureaucracy, higher judiciary, landed upper crust and their cronies in politics, industrialist-turned politicians, religious and so-called spiritual leaders (sic), media tycoons…
Appraisal of provincial budgets
Huzaima Bukhari, Dr. Ikramul Haq & Abdul Rauf Shakoori Provincial budgets for Punjab, Sindh, and Khyber Pakhtunkhwa for the fiscal year (FY) 2025–26 reflect a precarious balancing act between growth ambitions and fiscal realism, raising critical…
“Agricultural Income” Tax: Pakistan’s Achilles Heel
Dr Ikramul Haq “Taxing agriculture is a core component of the International Monetary Fund’s new program for Pakistan and is critical to its success. If the commitment is not followed, the program’s success will be at risk”—Nathan Porter, the…
Broader analysis of Finance Act, 2025
Dr. Ikramul Haq & Abdul Rauf Shakoori The National Assembly of Pakistan on June 27, 2025 approved the Rs.17.6 trillion worth budget for the fiscal year 2025-26, along with Rs. 463 billion new taxes, emphasizing to bring…
Budget of a neglected province
Dr. Ikramul Haq & Abdul Rauf Shakoori The province of Balochistan, comprising approximately 44% of Pakistan’s territory, stands as the country’s richest yet most underdeveloped region. Located in the southwestern part of Pakistan, Balochistan shares borders with Afghanistan and…
Challenges of emerging global order
Dr. Ikramul Haq & Abdul Rauf Shakoori The recent military conflict between Israel and Iran not only destabilized an already fragile Middle East but also posed a grave threat to global peace and economic security. The surprise attack…
FATF & Pakistan’s quest for cryptocurrency
Huzaima Bukhari, Dr. Ikramul Haq & Abdul Rauf Shakoori Recognizing the global shift toward digital finance, the government of Pakistan has recently initiated concrete steps to legalize cryptocurrency. This shift gained momentum following the Crypto Council’s resolution to develop…
Taliban, Americans, terrorism & drug-trade
June 26 marks the International Day against drug abuse and illicit trafficking. The worldwide observance, decided by the United Nations General Assembly in 1987, aims at raising the level of awareness in the international community about the dangers of drug…
Finance Bill 2025 Failure in dismantling oppressive tax system
Dr. Ikramul Haq “…regressive taxation, one of the great ironies of Pakistan’s tax system, treating exporters more like easy tax targets than growth drivers. The FY2025 budget pushed exporters into the normal tax regime, imposing a 1.25%…