By December 2025, Pakistan’s export debate should have matured beyond slogans, press releases, and recycled policy promises. Instead, the conversation remains trapped in a familiar loop. Incentives are announced, concessions are extended, and relief packages are branded as reform. Yet the numbers remain stubborn. Pakistan’s merchandise exports continue to fluctuate in the low USD 30 […]
Delusion
The Austerity Delusion
The recently announced annual budget is one that would clearly be described as austerity-focused, with a view to satisfying the IMF board’s whims so that an already negotiated Extended Fund Facility might be approved and lines of credit to Pakistan might resume. The budget comprises various belt-tightening measures on public expenditures, but there are also […]