Like Sri Lanka, Kyrgyzstan also has a swelling state debt and took on billions worth of loans over the last decade from China’s Export-Import Bank for a series of infrastructure plans under the Belt and Road Initiative.

We were told that the generosity of the rich would make up for cuts to government services. But those at the top are increasingly using dubious “charitable” ventures as vehicles for profit and influence. Institute for Policy Studies' report Gilded Giving 2022: How Wealth Inequality Distorts Philanthropy and Imperils Democracy, charitable giving is more dominated than ever by those at the top of the income and wealth pyramid.

By Ashab Baig The situation is so acute on Pakistan’s economic front that a bailout package from IMF has become integral to provide lifeline to the economy. The situation is alarming because of the USD/PKR exchange rate that is all time high at 212, single digit USD reserves of less than 9 billion barely enough to afford 45-day import bill; …

By News Desk A large number of working class people, katchi abadi residents, students, trade union activists and progressive political workers gathered in Aabpara Chowk to protest the rising costs of living. Organised by Awami Workers Party (AWP) and Progressive Students Federation (PrSF), the ‘Mehangai Mukhalif March’ centred around the core issue of economic justice and how the Pakistani economy, …

By Aasim Sajjad Akhtar It is budget season. But the budget that will garner all the attention is, frankly, much ado about nothing. We already know where most of our expenditures go — into defence and debt servicing — just as we know that our revenue base relies disproportionately on regressive taxes while the big fish run amok. The government …

Pakistani neoliberalism hasn’t rolled back state intervention in the economy. Building on a predatory tradition that dates back to British colonial rule, it has used state power to enforce the ruthless exploitation of Pakistan’s workers and natural resources.

By Aasim Sajjad Akhtar It has been a month since the so-called unity government came to power. It still seems to be labouring under the illusion that formulating a coherent programme to serve the needs of Pakistanis is rocket science. In fact, it is quite straightforward. For those in government that are committed to doing something substantial, I offer this …

Riaz Akbar spells out a comprehensive youth-led development roadmap for Gilgit-Baltistan, outlining four areas that can kick-start GB’s economy and increase the whole pie of the budget.

Local people say they will not vacate their ancestral land without a settlement plan or resettlement by Punjab government; They demand increase in compensation rate for their land. HAH Report Rawalpindi: Affected people of Dadhocha dam organised a public meeting and peaceful protest march here on Sunday against forced displacement without rehabilitation, seeking a substantial increase in compensation rate for …

The $75m-project will facilitate trade, and travel between the two countries. The key infrastructure was started in 2007 with Iranian assistance. Iran and Afghanistan on Thursday inaugurated the first railway link between the two countries. Presidents of the two countries expressed hope it would enhance trade links across the region. The 140-kilometre (90-mile) line running from Khaft, eastern Iran, into …

High Asia Report GILGIT:  An accountability court on Tuesday accepted the plea bargain application of Salim Khan, a former member of the Gilgit-Baltistan Assembly, to pay Rs51 million he had embezzled in the Sost Dry Port scam. Justice Khurshid Ahmed of the Accountability Court Gilgit approved the plea bargain on the recommendation of the National Accountability Bureau (NAB) regional office. …

Mushtaq Ahmad There is a long history of global pandemic and epidemics, but there is also evidence that all these have been challenged by man. Consequently, there have been great losses of human lives coupled with social and economic vicissitudes as well. At the same time, every major crisis brings opportunities to rethink our systems and make them stronger to future …

The global community unites to celebrate “tourism and rural development” High Asia Herald Report Summer holidays used to be the peak season in Gilgit-Baltistan. file photo The 2020 edition of World Tourism Day, with the theme of “Tourism and Rural Development”, celebrates the unique role that tourism plays in providing opportunities outside of big cities and preserving cultural and natural heritage …

Covid-19 has exposed the myth of neoliberal free-market economic model Herald Report The United Nations Secretary-General Antonio Guterres has warned that the world is at breaking point, and the coronavirus pandemic has exposed the free market and deep divisions in society, calling for a new global deal to combat climate change, forced migration, diseases, patriarchy and racism. Inequality, an issue …

By Wajidul Islam   The National Finance Commission (NFC) is a resource-sharing mechanism between the federal government and federating units. It was constituted under Article 160(1) of the 1973 Constitution. It is mandatory to constitute and hold the NFC meeting in every five consecutive years. The purpose of the award is to review the collection of revenues by the Centre …