Javeria Abbas analyzes the factors that are responsible for the adoption and the rejection of cryptocurrency in Pakistan. She tries to relate each factor responsible for the rejection of cryptocurrency in Pakistan with the Islamic finance system. This paper also gives an insight into the bitcoin transaction system, how bitcoin is used, and how its usage is classified as unislamic.
On 18th June 2023, Hardeep Singh Nijjar, born in India and living in Canada, was murdered by two masked gunmen right outside his Sikh temple in a Vancouver suburb. The likely suspect by the Canadian authorities? The Indian government of Prime Minister Narendra Modi. The Khalistan movement is the reason behind the allegations that Canada has leveled against India. Bilateral diplomatic tensions have so far caused suspensions of visas, expulsion of diplomats, and a negative impact on trade and investment.
Azerbaijan Airlines (AZAL) has now launched direct flights from Azerbaijan to Pakistan in order to ease the comfort of traveling for the citizens of both countries. Access to direct flights will enable both Azerbaijan and Pakistan to establish stronger ties and more opportunities for business, tourism, and cultural exchange.
Afifa Iqbal highlights the economic challenges facing ordinary Pakistanis amidst the country’s recent IMF deal. Pakistan’s economy is in crisis, with soaring inflation rates and hardships for its citizens. The priorities of the political leadership have only made matters worse. The IMF’s conditions for the deal include fiscal austerity measures that prioritize debt servicing over public and development spending, leading to potential hardships for the people. Additionally, the policy targeting disinflation could result in increased borrowing expenses and unemployment.
Misha Karim suggests that Pakistan’s economic crisis can be resolved by promoting entrepreneurship through government policies such as streamlined regulations and tax reforms. The International Monetary Fund (IMF) has been providing financial support to Pakistan to address its economic crisis. However, IMF loans come with conditions such as reducing government spending and increasing taxes, which can negatively impact the economy and the people. It is important for Pakistan to implement structural reforms such as streamlining regulations and taxes for small and medium-sized enterprises (SMEs) to promote growth and job creation. Supporting small businesses can play a key role in shaping the national growth strategy.
Islam, Ethnicity, and Power Politics: Constructing Pakistan’s National Identity by Rasul Bakhsh Rais
Islam, Ethnicity, and Power Politics by Rasul Bakhsh Rais analyzes the relationship between the issue of identity, power politics and competing ideologies in Pakistan. Rais illustrates how Islam has been used to legitimize political power, how ethnic identities have been mobilized for political purposes, and how these dynamics have shaped the political landscape of Pakistan.
Pakistan has been facing a myriad of issues, but the energy crisis is one such issue that has hit the country hard. The phrase ‘load shedding’ has become a part of our daily vocabulary. Insane and unexpected electricity bills are the talk of the town. Does Pakistan lack the capacity to generate enough electricity? Why has a sudden hike in the bills taken place? Is the current crisis a result of poor leadership or a natural occurrence? And above all, can this be fixed or not?
The China-Myanmar Economic Corridor (CMEC) is a strategic infrastructure project of China’s Belt and Road Initiative (BRI) aimed at connecting China with Myanmar’s major economic centers. CMEC was endorsed by Chinese President Xi Jinping during his visit to Myanmar in January 2020, marking the culmination of China’s efforts to reconstitute Sino-Myanmar relations after Myanmar’s democratic transition.
Shashi Tharoor’s “Inglorious Empire: What the British Did to India” is a provocative and insightful analysis of British colonial rule in India. Tharoor, the accomplished author, politician, and ex-diplomat, challenges popular narratives that romanticize and glorify colonialism by offering an honest assessment of the British Raj. He highlights the economic exploitation, deindustrialization, famines, and political manipulation that took place under British rule in India.
Faryal Khan discusses pakistan’s external debt and liabilities, proposing measures for the country’s economic recovery and growth. Drawing inspiration from successful examples and policies implemented by other countries, this article suggests policies such as improving the investment climate, reducing the cost of doing business, promoting renewable energy, and implementing microfinance policies. By adopting these policies, Pakistan can create a favourable business environment, attract more investment, and ultimately boost its economy. This proposed roadmap aims to help Pakistan transition from a debt burden to a path of economic growth and prosperity.
Established in 1924 as a federal law enforcement agency, the Federal Board of Revenue (FBR) ensures transparent revenue generation through tax collection. Using modern techniques, the professional workforce maintains the integrity of the institution by performing its duties while seeking to develop a healthy relationship with taxpayers.
For the fifth time this drought season, the Panamanian Canal Authority (ACP) has restricted the size of ships allowed to transit the canal. With about 38 vessels navigating it daily, a water supply issue is threatening the survival of this vital waterway. The climate crisis has forced Panama’s government to curtail maritime traffic in the channel that connects the Atlantic and Pacific.
It’s been a decade since the inauguration of the China-Pakistan Economic Corridor (CPEC), a $50 billion project under the Belt and Road Initiative (BRI). While many believe that the project has failed in many respects, Ayesha Shaikh shares what it is and what it isn’t.
Rida Raja delves deep into the economic crisis of Pakistan to get a more holistic, detailed, and long-term picture. She uses a factual and statistical approach to draw an economic understanding of the country’s ongoing crisis. She discusses what the reasons behind the economic crisis really are, i.e. lower productivity growth, lower savings rate, untapped export potential, and limited integration with global value chains. Rida proposes a few solutions to these issues, considering each of the country’s major economic sectors separately.
It was certainly a surprise when the Russian parliament’s lower chamber approved the bill allowing the introduction of the Islamic banking system. The trial will start on 1st September and last for two years, but with the possibility of an extension depending on the results. Russia’s engagement in developing Islamic banks is a sign of its ambitions to seize new economic possibilities and improve connections with nations with a Muslim majority.
A disastrous tsunami followed the 2011 earthquake in Japan, causing disruption to the reactors at the Fukushima nuclear plant site. As a consequence, there was a release of radioactive material. Japan has now decided to release treated radioactive water into the Pacific, but China, South Korea, and the Pacific Island nations are opposing the discharge of the Fukushima water.
On 26th July 2023, a coup occurred in Niger which left the democratically elected president, Mohamed Bazoum, detained by the presidential guards in the presidential palace. The presidential guard commander-general, Abdourahamane Tchiani, proclaimed himself the head of a transitional government, the National Council for the Safeguard of the Homeland. This one coup has overturned the whole social, political, and economic paradigm of Western Africa.