The Supreme Court has allowed fixing for hearing of a pro bono publico petition by a former minister seeking a directive for the government to reduce the central bank’s policy rate. APP/File
ISLAMABAD: The Supreme Court has allowed fixing for hearing of a pro bono publico petition by a former minister seeking a directive for the government to reduce the central bank’s policy rate and scaling down of interest payments being paid out of public money to finance deficit.
“The petition reflects serious thought and presents an analysis that invites judicial consideration of the legal matters relating to financial disciple and responsibility of the state,” observed Justice Umar Ata Bandial in a two-page order while accepting the petition for hearing after removing the office objections on the petition moved by Dr Mohammad Zubair Khan.
The Supreme Court has allowed fixing for hearing of a pro bono publico petition by a former minister seeking a directive for the government to reduce the central bank’s policy rate. APP/File
ISLAMABAD: The Supreme Court has allowed fixing for hearing of a pro bono publico petition by a former minister seeking a directive for the government to reduce the central bank’s policy rate and scaling down of interest payments being paid out of public money to finance deficit.
“The petition reflects serious thought and presents an analysis that invites judicial consideration of the legal matters relating to financial disciple and responsibility of the state,” observed Justice Umar Ata Bandial in a two-page order while accepting the petition for hearing after removing the office objections on the petition moved by Dr Mohammad Zubair Khan.
The writer is a senior fellow at the U.S. Institute of Peace and host of the podcast Pakistonomy.
“NARRATIVES are worthless in a world of misinformation,” tweeted Anthony Pompliano, founder and partner at Morgan Creek Digital, a hedge fund which specialises in blockchain technology and digital assets. This is an extremely valid point that should be considered by Pakistan’s narrative-obsessed national security policymakers.
To understand why, imagine a world made up of two types of actors: Actor A and Actor Z. Actor A is a low-information, low-impact consumer of information, who you may call the Average Joe/ Jane, and collectively refer to as ‘the masses’. This category of people is most important for domestic politics, since you need their votes to maintain power.
In this file photo, people buy vegetables from Karachi s Empress Market. Photo by Shahab Nafees/File
Given the rate of inflation that has taken place, Prime Minister Imran Khan has removed unelected technocrat Dr Abdul Hafeez Shaikh and given the additional charge of the finance ministry to Federal Minister for Industries and Production Mohammad Hammad Azhar. He has been tasked “to devise policies according to ground realities of Pakistan and (ensure) the poor get relief.”
The portfolio for finance has been clubbed together with industries and production apparently for better policy coordination and decision-making in changing policy priorities. The ground realities demand the current disconnect between fiscal/ monetary policies and the real economy that produces goods and non-financial services be significantly reduced to improve the fundamentals of the economy. For example, the World Bank experts say that Pakistan exports will dip further this fiscal year.