Dr Farrukh Saleem
The News
Pakistan
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Past articles by Dr:
Dollars are running away
Sri Lanka is passing through a foreign currency crisis. This is what happens when dollars run away from a country: 7-hour loadshedding, a free fall of the currency, medical emergency, shortage of... → Read More
Vacuum
In science, a vacuum is ‘space devoid of matter’. In politics, inflation, unemployment and gross mis-governance create a political vacuum. Science has it that nature abhors a vacuum.... → Read More
Reconciliation
The opposition must stop calling the prime minister ‘selected’. The opposition must accept the PTI’s legitimate right to rule. PM Imran Khan must stop labelling the entire... → Read More
Economy and security
Politics and economics are inseparable. Economics and national security are also inseparable. The world over, the economy is the key political battleground. Not in Pakistan. The world over, a... → Read More
Learning from China
Military-Civil Fusion as a National Security Strategy and as a National Development Strategy . This is what we need to learn from China. Military-Civil Fusion is a “national strategy of the... → Read More
Who saves Karachi?
Karachi has been turned into a coalmine. Every day a new nexus between politics and crime comes in, digs in a new hole, takes away its share of coal and invests it in Dubai. Lo and behold, Karachi... → Read More
The new war
The hybrid threat to Pakistan is three dimensional: economic, societal and political. Pakistan’s enemies are throwing dollars to exploit our internal fissures. Our enemies are throwing dollars... → Read More
Political calculus
Maulana Fazlur Rehman is one of the shrewdest political brains in the country. Plus, he has the capacity to raise a protesting crowd. The fact remains that for the first time in decades, his share... → Read More
The happy mind
This is the title of the book co-authored by Kevin Horsley, the ‘grandmaster of memory’. There are at least four things that I learnt from the book. One: pleasure and happiness are not... → Read More
Cut corporate tax
Can PM Imran Khan turn the economy around? → Read More
Incidents
Incident 1: I had gone to buy some cashews and almonds from my favorite dried fruit shop in a major shopping mall. The owner came up to me and began narrating his rather sad story of declining... → Read More
Ten questions
First question: How can a government committed to austerity cause a budgetary deficit that is the highest in at least 40 years? Most economists consider budget deficit as the root of most financial... → Read More
Continuity
Financial markets love continuity – the “unbroken and consistent existence or operation of something over time”. The collective wisdom of investors at the Pakistan Stock Exchange ... → Read More
Economic slowdown
Let us divide up the economy into two categories: dollar-denominated and rupee- denominated. In August 2018, when the PTI took over the reins of the government, the biggest economic challenge was in... → Read More
Some good news
Red alert: The economy is slowing down at a pace much faster than I had expected only a few weeks ago. This surely is stagflation – persistent ‘high inflation combined with high unemployment’. This could, if it continues, lead to urban strife. Urgent measures must be taken to reverse the trend – and the expansion of social safety nets. → Read More
The tax net
In 1958, FM Ayub Khan wanted to expand the tax net. In 1969, General Yahya Khan wanted to expand the tax net. In 1976, PM Bhutto tried to expand the tax net. In 1986, General Ziaul Haq wanted to... → Read More
Zero reforms
The government of Pakistan has signed an agreement with the International Monetary Fund . The agreement has structural benchmarks, performance criteria and monitoring instruments.Yes, it is one of... → Read More
The economic plan
I think Dr Hafeez Shaikh has a plan. I think Dr Reza Baqir has a plan. I believe the two have jointly identified our financial ailments as: the budgetary deficit and the trade deficit. It appears... → Read More
Six questions
Fact 1: In May 2018, the rupee-dollar parity stood at Rs115 to-a-dollar. In May 2019, the same parity had dropped down to Rs157 a dollar. That’s a devaluation of 35 percent. Fact 2: In May... → Read More
Dear prime minister
Sir, you are the first prime minister after decades whose personal agenda – anti-corruption and anti-poverty – is perfectly aligned with our national agenda. The fact is that the PTI,... → Read More